Professional Documents
Culture Documents
Financial Management
Functions
Ibrahim Sameer (MBA - Specialized in Finance,
B.Com Specialized in Accounting & Marketing)
www.ibrahimsameer.wordpress.com
Managerial Skill
There are certain skills that different managers
should equip with for the smooth functioning of the
organization. These skills are as follows.
Technical Skills
Interpersonal Skills
Conceptual Skills
Technical Skills
These skills include the proficiency & knowledge in
a certain specialized area that can make a
manager technically competent. The ability to plan,
organize, lead & control are included in this set of
skills and the lower level managers should be
equipped with these skills as compared to other
managers.
Interpersonal Skills
The potential to work effectively with the other
people on an individual as well as group basis is
covered in the interpersonal skills. Each level of
manager must possess these skills which help
them in understanding of the behaviors & attitudes
and resultantly in communication with others
effectively.
Conceptual Skills
The capability of thinking & viewing about abstract
things & understanding of conceptualization of
complex situations is included in this set of skills.
The top manager needs these skills most to see
the organization as a whole and also in different
sub units that are working together and having
different relationships with each other.
Resource Mobilization
It is the process of getting resource from resource
provider, using different mechanisms, to implement
the organizations work for achieving the predetermined
organizational
goals.
It
deals
in
budgeting
ensures
continuity
of
Incremental Budget
Disadvantages
Assumes activities and methods of working will
continue in the same way.
No incentive for developing new ideas.
No incentives to reduce costs.
Group Work
Before we move on to the other two budget types,
write down other reservations you may have
against line item budgeting.
which
makes
it
possible
to
justify
Thank You
Ibrahim Sameer
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