Financial literacy is an essential skill for managers to master for several reasons. First and foremost, financial literacy enables managers to understand and effectively manage the financial health of their organization. It allows them to interpret financial statements, make informed decisions regarding investments, and foresee the economic implications of their strategic choices. Additionally, managers with a strong foundation in financial literacy are better equipped to communicate with stakeholders, including investors, creditors, and employees. They can justify budgetary allocations and investments, and they can spell out the fiscal impacts of various company activities. Moreover, financial literacy supports strategic planning by helping …
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