Financial Training Needs of Executives: A Study of Financial and Non-Financial Companies

Abstract

Recruiting a competent employee is not enough for any organisation to handle its competitors strongly. Rather, it is more important to train and equip its human resources with the latest techniques of the business. Apart from technical and product knowledge, executives must have financial knowledge in order to make buying decisions, evaluate projects, extend financing options to customers, prepare and get budgets approved by top management, and even deal with clients. It is thus tremendous accentuation is being given to upgrade and upskill the financial understanding of executives in financial and non-financial companies. The present study was conducted to understand the training preferences of financial executives and to find the most effective methods, tools, and techniques to provide financial training. To carry out the study, finance executives of financial and non-financial companies having 5 years of work experience have been considered. Financial training requirements and preferences of respondents have been analysed by using appropriate statistical techniques.