Real-world financial management: 12 commandments for the 21st century: 12 Commandments for the 21st Century

Author: James Sagna
Publisher:
Publish Date: 2004-09-01
Features: Over the past decade, the ups and downs in the business world have revealed an undeniable fact: the rules have changed. Financial managers eager for success must reflect on traditional experiences and embrace a set of new guiding principles. James Sagna combines vivid cases from Fortune 500 companies to point out the risks that traditional financial management practices expose companies to. For example, it was once believed that a large amount of labor capital meant a company had strong solvency for creditors. However, now, having too much labor capital is seen as a burden on performance, breeding problems that exacerbate inventory and accounts receivable issues. Even on simple issues like profitability, the same troubles persist. Companies often use profitability as the sole metric to evaluate all customers, failing to identify profitable potential clients and mistakenly cutting "marginal" businesses that are actually crucial to the company's operations. James Sagna discards the dogmatic teachings from the MBA courses he has taught for many years, using his straightforward 12 rules to provide revolutionary operational guidelines for financial managers. He covers topics such as profitability, labor capital, the CFO's focus, the financial responsibilities of non-financial personnel, strategic planning and capital budgeting, auditing and control, and risk management. Financial managers can no longer rely on yesterday's basic rules. James Sagna writes "Real-World Financial Management," an operational guide for successful financial management in the 21st century, in a vivid and un style.