It’s pretty clear that the U.S. economy is in turmoil. Though the National Bureau of Economic Research may have declared that the recession ended in June of 2009, it’s obvious that the country is still dealing with its effects.
While the recession may have had its beginning on Wall Street, organizations and individuals should take a hint; unchecked spending and lack of financial awareness can lead to disaster. It’s time for organizations and their employees to work on developing their financial acumen. On an organizational level, this will help companies save money and reduce rampant spending. On the individual level, this will help employees with their personal finances and make them more aware of their personal role in ensuring the financial success of their company.
Financial acumen is no longer a competency that should be relegated to only those employees holding financial positions. Everyone should work to increase their financial knowledge as a way of not only helping themselves become more fiscally responsible and secure, but also helping their organization reach those same goals.
Related summaries in the BBS library: The 3 Financial Styles of Very Successful Leaders, Leadership in the Era of Economic Uncertainty, Strategic Corporate Finance
Business Book Summaries 
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