Saturday, August 18, 2012

What are some tactics that good financial managers employ?

Financial Managers is a very general terms. Persons designated s finance managers in different firms may perform many different kind of jobs. For example a finance manager in a share broking firm, a foreign exchange dealer, and a manufacturing firms are likely to to have very different kind of duties and responsibilities. Further, the same finance manager is likely to be responsible for a wide ranging activities, and the way one function needs to be handled may be quite different from the others. For example, a finance manager may be responsible for advising the firm on sources of short term finance requirement, as well as for planning and monitoring the fund flows. It is not advisable to handle all such function in identical manner . Finally, tactics refers to a specific actions one may take to achieve the detailed operational objectives that change from time to time. Thus the tactics also need to change with the changing operational requirements. It will be a good strategy for a financial manager, or for any other manager, to be flexible and innovative in use of tactic, rather than relying on some standard, prescription tactics.

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