No matter what role you play in the day-to-day operations of a business, having a basic understanding of finance is a good thing.
“To make decisions within an organization, we need to understand—among other things—the financial impact that these decisions will have,” says Lalitha Naveen, associate professor of finance at the Fox School of Business.
Knowing more about the costs and benefits of business decisions cannot only lead to successful outcomes for businesses, but also for employees—–especially women.
Naveen intends to bring that message to the Fox School’s Women’s Leadership Series at the Center for Executive Education as one of six facilitators who share their experience, insight and expertise with women working in a wide range of industries.
The series provides an opportunity for women who are on the cusp of taking the next step in their careers to come together and strengthen their skills in key leadership areas such as communication, negotiation, change management and finance for the non-financial manager.
Naveen notes that it is especially important for women to have a solid foundation in finance, not only because it will help them make better business decisions for a company, but also for themselves.
“Within organizations, the glass ceiling is still real and women find it harder to get promoted,” she says. “A knowledge of finance and business basics will empower women and give them the confidence to demand promotions and pay commensurate with the effort they put in.”
As part of the Women’s Leadership Series, Naveen will guide participants through the session, “Finance for the Non-Financial Manager.” She will leverage her experience as both an educator and former finance industry professional to deliver an interactive learning experience targeting important components of finance that every participant should know.
“I think it is important for anyone to have finance as part of their skillset, not just managers,” she says. “For someone working in an organization or someone thinking of starting their own business, a good understanding of financial terminology and the basic information contained in financial statements is necessary.”
The goal of the session, she says, is to provide business professionals who don’t have a finance background with a finance perspective. The session will help participants become familiar with the basics of financial statements, financial health and performance indicators and critical financial terminology.
“This will empower them and provide them with more confidence in dealing with different business situations they may face on a daily basis,” she says.
The Women’s Leadership Series is a three-day, six-session program offered throughout the year by the Center for Executive Education. The facilitators are all accomplished professional women who have robust career histories and real-world experience in business and research.
“This series continues to be our most successful for a reason: companies and individuals who sign up know the knowledge and skills we impart apply universally to emerging leaders across industries and levels,” says Gregory Maughan, associate director for business development at the Center for Executive Education.
“Then you add the fact that each of our facilitators happens to be an inspiring and accomplished woman in business, and all the participants bring a female perspective on existing in their workplace to the sessions,” he adds. “The frank conversations that can take place and sense of fellowship in that environment are an incredible additional value for everyone who attends.”
The Center for Executive Education offers learning opportunities in various ways to fit the needs of businesses and individuals—–including open enrollment courses offered in-person and online, with discounts for companies who send groups. In addition, the Center regularly creates custom-designed programs to be delivered internally for corporations, nonprofits and government agencies.
For more information about the ways the Center for Executive Education can deliver results for you and your organization, contact Gregory Maughan at gregory.maughan@temple.edu.