European Institute of Management and Finance | The reasons behind Director and Board training and development
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The reasons behind Director and Board training and development

16 Aug The reasons behind Director and Board training and development

A successful business venture stands on the shoulders of strong managers, whether that is on a team level or on a board level.

Like leaders, good managers are made, not born. There is a specific and multidimensional skillset that successful managers and directors need to acquire, a skillset that taps into so many disciplines that to be successful, a manager requires many years’ experience and training.

Examples of the multidisciplinary requirements of good leadership are the requirements of expertise in the following:

  1. Finance and Accounting: Directors and managers need to understand, analyse, and interpret balance sheets, income statements, cash flow projections, and also learn to read financial statements, especially those of audited accounts. Also business valuation is an important skill to acquire, and also to understand the global financial situation the company operates in.
  2. Marketing and sales: No matter the level of expertise on the subject matter of your business, without the proper salesmanship a manager cannot expand the business. These are 2 of the disciplines that most managers fail to see the need of training.
  3. Personal skills: good managers need to know how to deal with people in efficient, thoughtful, and professional ways. There are so many things written about leadership acumen and it all boils down to interpersonal skills
  4. Negotiation and Strategy: good business means good deals closed by management, and a good deals needs good strategy skills to bring the correct deal to the table, and good negotiation skills to close it.
  5. Regulatory Knowledge: Even though most managers and directors will surround themselves with people with the required knowledge to keep the company compliant within their legal environment, it is their responsibility to obtain and maintain decent knowledge of the rules and regulations that might affect their business.

These subjects constitute important and arguably required knowledge for all Managers and Directors of a firm (even team leaders) to ensure the success of the business, and also the development of these individuals on a personal level.

As such, we have prepared a list of subjects that are designed to cover the above and prepare Management for their demanding roles:


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