Quotes & Sayings About Financial Management

When the purse becomes empty, the mind becomes full of issues. — Ernest Agyemang Yeboah

Many of the Abbott disciplines trace back to 1968, when it hired a remarkable financial officer named Bernard H. Semler. Semler did not see his job as a traditional financial controller or accountant. Rather, he set out to invent mechanisms that would drive cultural change. He created a whole new framework of accounting that he called Responsibility Accounting, wherein every item of cost, income, and investment would be clearly identified with a single individual responsible for that item.4 The idea, radical for the 1960s, was to create a system wherein every Abbott manager in every type of job was responsible for his or her return on investment, with the same rigor that an investor holds an entrepreneur responsible. There would be no hiding behind traditional accounting allocations, no slopping funds about to cover up ineffective management, no opportunities for finger-pointing. — James C. Collins

Do we allow unlimited visitation, or do we restrict numbers to protect a delicate ecosystem? Do we heavily advertise the park, enticing paying visitors, generating needed money for Idaho's park department, or do we sacrifice financial benefits to better preserve natural ones? Do we log diseased trees, interfering with nature, or do we allow trees to rot and fall, possibly endangering lives? Do we inexpensively repair historic structures, or do we meticulously restore them? Do we maintain this park as closely as possible to the condition in which Idaho received it, or do we develop it for multiple uses; allow overnight visitors; permit all-terrain vehicles; provide paths for those unable to navigate unpaved trails? — Mary E. Reed

management is an everyday thing. Strategy and financial reporting and planning are not. — Patrick Lencioni

It's not about judging you, it's about changing your point of view. — Simone Milasas

Whether we make our own money or rely on someone else, many of us would rater pretend our financial matters don't exist. Or we hope they'll just take care of themselves somehow. My ex-husband was like that. He always said, "I bank by prayer. I go to the ATM and pray that money will come out. — Nancy Levin

I think the rise of quantitative econometrics and a highly mathematical approach to risk management was the obverse of a decline in interest in financial history. — Niall Ferguson

Top management as a function and as a structure was first developed by Georg Siemens (1839-1901) in Germany between 1870 and 1880, when he designed and built the Deutsche Bank and made it, within a very few years, into continental Europe's leading and most dynamic financial institution. — Peter Drucker

Entrepreneurial management in the new venture has four requirements: It requires, first, a focus on the market. It requires, second, financial foresight, and especially planning for cash flow and capital needs ahead. It requires, third, building a top management team long before the new venture actually needs one and long before it can actually afford one. And finally, it requires of the founding entrepreneur a decision in respect to his or her own role, area of work, and relationships. — Peter F. Drucker

Easy payments, easy lease, easy approval. Debt is very EASY to get into, but makes it HARD to live victoriously. — Bradley Vinson

People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team. — Meg Whitman

There is a simple way of avoiding excess risk-taking by the managers of our financial institutions. It is to make it a crime ... had a crime for reckless management of a financial institution been on the books, Northern Rock and RBS would not have blown up. — Paul Collier

In financial services, if you want to be the best in the industry, you first have to be the best in risk management and credit quality. It's the foundation for every other measure of success. There's almost no room for error. — John G. Stumpf

The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory. — Satyajit Das

Finance as taught in universities is generally divided into three areas: (1) financial
management, (2) capital markets, and (3) investments. — Eugene F. Brigham

The European Parliament responded by focusing on corporate governance. If corporations wanted to be legal citizens they could damned well shoulder the responsibilities of good citizenship as well as the benefits. Social as well as financial audits were the order of the day. Directives outlining standards for corporate citizenship were drafted and a lucrative niche for a new generation of management consultants emerged - those who could look at an organization and sound a warning if its structure rewarded pathological behaviour. — Charles Stross

Business requires understanding financial matters, but management is different from running the financial aspects of the business - it requires understanding complex systems, how they operate, the nature of organisations, what happens when people interact in groups and how to motivate and guide people. — Rosabeth Moss Kanter

Remember, buying something is not the problem. The problem comes when we believe, for that moment, that the object we're buying is going to make us happy. — Celso Cukierkorn

Numerous studies, and my own experience as a serial entrepreneur, have proven that companies with a diverse management team provide greater financial returns to investors. — Jay Samit

I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score. — Suze Orman

The connection between health and productivity at work is intuitively obvious but has not been demonstrated to the satisfaction of either researchers or corporate financial officers. Ronald Kessler and Paul Stang help to bridge the usual gap between research and the marketplace with the help of a top-notch group of the best 'real-world' investigators obtainable-all in the cause of making the case that employee health should be treated as an investment in business performance-thus creating the new discipline of health and productivity management. — Sean Sullivan

It's never been more important for borrowers to arm themselves with knowledge and build sound financial-management skills. — Robert Manning

Were not cutting the budget simply for the sake of sounder financial management. This is only a first step toward returning power to the states and communities, only a first step toward reordering the relationship between citizen and government. — Ronald Reagan

As my father used to say: There are two sure ways to lose a friend, one is to borrow, the other to lend. — Patrick Rothfuss

Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices ... We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk. — Ben Bernanke

Shenanigans is a financial model on the catwalk. — Toba Beta

Money management is the only strategy to survive in this crazy, stupid and doped financial world market. — William C. Brown

The speed of your success is limited only by your dedication and what you're willing to sacrifice — Nathan W. Morris

The best doctor, if you're sick, may not be the one that shares your faith. We found that out to be true at Liberty with the years of struggles with the accountants and lawyers we brought in and the financial management. — Jerry Falwell Jr.

Housing prices had never before fallen as far and as fast as they did beginning in 2007. But that's what happened. Former Federal Reserve chairman Alan Greenspan explained to a congressional committee after the fact, "The whole intellectual edifice, however, collapsed in the summer of [2007] because the data input into the risk management models generally covered only the past two decades, a period of euphoria. Had instead the models been fitted more appropriately to historic periods of stress, capital requirements would have been much higher and the financial world would be in far better shape, in my judgment."3 — Charles Wheelan

The management of the New York fiscal crisis pioneered the way for neoliberal practices both domestically under Reagan and internationally through the IMF (international monetary fund) in the 1980s. It established the principle that in the event of a conflict between the integrity of financial institutions , on one hand , and the well-being of the citizens on the other, the former was to be privileged .it emphasized that the role of the government was to create a good business climate rather than look to the needs and well-being of the popualtion at large. — David Harvey

What we call a financial crisis is really at its core a crisis of management, and not just a crisis of management, but a crisis of management culture ... In other words, what you had is a detachment of people who know the business from people who are running the business. — Henry Mintzberg

Give yourself a set period of time to grieve and heal before focusing on financial matters. — Lois P Frankel

By teaching twenty-something year olds responsible debt management practices, we can help them create a balanced lifestyle and find peace of mind through increased financial awareness, smart saving and long-term investing. — Alexa Von Tobel

With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company. — Jim Stanford

There's something to be said for CEOs' entering politics: In theory, they have management expertise and financial savvy. Then again, it didn't work so well with Dick Cheney. — Nicholas Kristof

Accepting our greatness means no longer playing small. It often starts with baby steps. But eventually it means making major changes - in our lives, jobs, relationships, and dreams.

If I had believed in my own self-worth, I would never have been willing to make the financial moves I made in the past.

If I'd known my value, I couldn't have spent so many years ignoring the whispering - and sometimes screaming - voice that told me to leave my marriage. For a long time, that truth was just too scary and painful for me to face. Talk about keeping my head in the sand!

But how many years did I waste, postponing what has proven to be a much better life - simply because I went into hiding and didn't see that I was worthy of something better? — Nancy Levin

It's not only how much money you make. It's what you do with it that determines your financial condition. — Sandra S. Simmons

Anarchists generally make use if the word "State" to mean all the collection of institutions, political, legislative, judicial, military, financial, etc., by means of which management of their own affairs, the guidance of their personal conduct, and the care of ensuring their own safety are taken from the people and confided to certain individuals, and these, whether by usurpation or delegation, are invested with the right to make laws over and for all, and to constrain the public to respect them, making use of the collective force of the community to this end. — Errico Malatesta

The best discussion of trouble in boardroom and business office is found in newspapers' own financial pages and speeches by journalists in management jobs. — Russell Baker

In the current situation, particular attention should be given to the quality of financial and economic management. The Government and the Central Bank should have a strategic action plan — Tatyana Golikova

In the two decades after I left, I waited for the end of Wall Street as I had known it. The outrageous bonuses, the endless parade of rogue traders, the scandal that sank Drexel Burnham, the scandal that destroyed John Gutfreund and finished off Salomon Brothers, the crisis following the collapse of my old boss John Meriwether's Long-Term Capital Management, the Internet bubble: Over and over again, the financial system was, in some narrow way, discredited. Yet the big Wall Street banks at the center of it just kept on growing, along with the sums of money that they doled out to twenty-six-year-olds to perform tasks of no obvious social utility. The rebellion by American youth against the money culture never happened. Why bother to overturn your parents' world when you can buy it and sell off the pieces? — Michael Lewis

But the last forty years had witnessed the professionalization of property management. Since 1970, the number of people primarily employed as property managers had more than quadrupled.8 As more landlords began buying more property and thinking of themselves primarily as landlords (instead of people who happened to own the unit downstairs), professional associations proliferated, and with them support services, accreditations, training materials, and financial instruments. According to the Library of Congress, only three books offering apartment-management advice were published between 1951 and 1975. Between 1976 and 2014, the number rose to 215.9 Even if most landlords in a given city did not consider themselves "professionals," housing had become a business. — Matthew Desmond

When you decide you deserve to have what you want, you will wait on it. — Dorethia Conner Kelly

What's absolutely unforgivable is the financial benefit top management people get for laying off people. There is no excuse for it. No justification. This is morally and socially unforgivable, and we will pay a heavy price for it. — Peter Drucker

Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done. — Eliot Spitzer

Some people argue that teaching children financial basics is the parents' job. However, this well-meant sentiment is what we're relying on now, and for all too many, it isn't working. In some families, financial illiteracy is passed on from generation to generation. Education takes place in the home, on the streets, and in the schools. Therefore, schools must bear some responsibility for teaching this skill. However, if you're raising children, remember that no one cares as much as you do or has as much ability to teach the important life skill of personal money management. — Eric Tyson

Today, I think a CFO needs to be more of an operating CFO: someone who's using the financial data and the data of the company to help drive strategy, the allocation of capital, and the management of risks. — Anthony Noto

To be sure, the cost of managing capital and of "formal" financial intermediation (that is, the investment advice and portfolio management services provided by a bank or official financial institution or real estate agency or managing partner) is obviously taken into account and deducted from the income on capital in calculating the average rate of return (as presented here). But this is not the case with "informal" financial intermediation: every investor spends time - in some cases a lot of time - managing his own portfolio and affairs and determining which investments are likely to be the most profitable. This effort can in certain cases be compared to genuine entrepreneurial labor or to a form of business activity. — Thomas Piketty

Financial prosperity is impossible without constant planning and management of money. — Sunday Adelaja

The four most dangerous words in finance are 'this time is different.' Thanks to this masterpiece by Carmen Reinhart at the University of Maryland and Kenneth Rogoff of Harvard, no one can doubt this again ... The authors have put an immense amount of work into collecting the data financial institutions needed if they were to have any chance of making quantitative risk management work. — Martin Wolf

We all know business financial performance improves when more women are in senior levels of management and leadership. — Beth Brooke

Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions. — Ben Bernanke

During the current period of health care development in our country, improvement of the management quality is becoming increasingly important. This is due to many processes, including new ones, such as increase in the number of financial resources used to implement the state guarantees program, the need for more efficient spending of funds, rearrangement of cash flows, single-channel financing — Veronika Skvortsova

I don't think the AAA is an end in itself; we will maintain prudent financial management with or without the AAA. — Jay Weatherill