Managing Financial resources at Henley

Managing financial resources

Today was my first day at Henley Business School attending the MFR workshop. It’s quite a good feeling to be here again and meet all fellows.

The workshop is great so far, I have learned a lot and I’m very impressed about our tutors experience and knowledge. I guess that guy knows the answer to every single question out there in terms of accounting and economics.

However, there is a upcoming feeling of tension noticeable. Maybe because the first exams are actually just less than 4 months away and the tutors keeps mentioning what we have to consider when it comes to the exam prep.

But one by one…first I have to pass this module writing an assignment about managing financial resources. Very interesting stuff as it reveals a lot of interesting facts about my own company. On the other hand it’s just highlights how important it is for a manager to understand the economic and accounting principles to perform successfully. Most of the managers are somehow scared when it comes to these things. I’m convinced once you know how to read financial figures and build up ratios and the like you’ll be able to develop a sound understand how your company is working. There is a very true saying: “What gets measured gets done” and this is highly applicable in your company as well.

As a product manager I’m dealing day in and day out with figures, requests, requirements etc. from internal and external stakeholders. Managing financial resources enables me to glue all these tasks together and have a look at the bottom line as well. Not that bottom line is the only measurement but its a pretty good indication and it always should be taken into consideration.

So I guess there are intensive weeks ahead and I’m curious how I’ll cope with all these challenges at the moment. MBA, work, private life….very demanding currently.