Mindmap of Financial Intelligence
Here’s a mindmap I did to give you an overview of the book Financial Intelligence: A Manager’s Guide to Knowing What the Numbers Really Mean.
Download the pdf here.
Why is financial-literacy so important?
Sir Richard Branson, despite his many companies, did not know the difference gross and nett until he was 50, if you believe his interview at TED.
Some years ago, a simple financial-literacy test was given to directors of various Fortune 500 companies. They got an average of 32% of the questions right.
Why is financial-literacy so important?
According to Financial Intelligence: A Manager’s Guide to Knowing what the Numbers Really Mean, published by the Harvard Business School Press, there are at least 3 benefits to an individual:
- increased ability to critically evaluate your company
- better understanding of the bias in the numbers
- the ability to use numbers and financial tools to make and analyze decisions
now, if the words scare or bore you, you’re probably like me and might have described yourself in the past as “not a numbers person”. well, the good news is that the book is damm good, short and well-written. And i shall attempt to write a summary of what i have learnt over the next couple of posts.
let’s get it started
if you’re like me, you probably have a long list of things you want to learn. here’s a short selection of my wish-list:
- classical music appreciation
- photoshop mastery
- economics 101
- introduction to world history
- overview of philosophy
it’s a long list so i will spare you. well, my struggle with this blog is the same struggle with learning. so much to learn, so little time and where do i even start? what is best?
for 2008, i’m going to start afresh and keep it simple. i won’t even have a long-term plan. i’m not going to worry about the internet, podcasts, blogs, etc.
i am going to take it one book at a time. i am going to read a book and blog about it in many parts.
it’s the power of one. i shall just focused on one book and not worry about trying to “maximize” everything.
like i said before, it’s a journey here on ihadapooreducation.com and there will be lots of mistakes and revisions of mind.
so tomorrow, expect some writing on something that might help you at work. i am from a non-financial background so i was looking for a book to help me understand financial information.
the book is Financial Intelligence: A Manager’s Guide to Knowing what the Numbers Really Mean.