Financial Manager Case Study

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Question 1 (30 marks, 300 words) Explain three of main duties of the financial manager in a retail setting. There is no doubt that the financial director has a vital role directly affects the activities of the employeesand the commercial team, this role is a very diverse role for it is involved in every area of the the store, and it is considered as the conscience of the within * Financial director: is the person who is responsible for observing all direct and indirect costs, discussing all aspects of the desired plan and performingthe plan with the members of the management team, and the plan is reviewed through financial management. There are some duties that must be considered by the financial manager when developing…show more content…
*Direct costs: it's what we determined clearly with the volume of sales, it is represented in trash, costs of employees, their salaries and bags. *Indirect costs: it include telephone expenses, electricity bills and security When we want the store to be more profitable itdoes not involve the direct costs only, but it involves the non-direct costs as well. For example: saving in stationery in one store is small, but in all the stores are large. Financial Planning 2- The most important tasks of the financial manager are good financial planning, developing a plan for the future and good balancing which is an important mechanism to observe every organization because it helps in predicting what will happen within the organization in the coming period. Not to ignore the demands of the customers 3- One of the points that should be taken into account by the financial manager is not to ignore the demands of the customers, the customer or the consumer is the most important element within the market soachieving thesedemandshelps to raise the market and increase the proportion of…show more content…
Discuss in some detail five key qualities or skills that you should have in order to succeed in this position. Analyze why these qualities or skills are important for your job. The position of commercial director is considered one of the important positions in the market especially in retail stores and achieving success in this position requires auditing and focus. Retail trade is the trading of goods in small quantities and solding it to the general consumer, because it relies on direct selling and dealing with customers directly. If I imagined myself one day servingin the position of a commercial director of one of the retail stores, I must pay attention to some points in order to achieve goals and reach success in this position, and its most important are: - 1. Paying attention to consumers requirements One of the important things in retail trade is paying attention to the consumers' requirements because retail trading is depending basically on the consumer because it is based on dealing directly with consumers without any intermediaries, when a consumer enters the store we all Mutiran to read his thoughts and serve his needs because the consumer and the market are the basis of trading success because retail trading is famous for being unable to predict of, so we must all be careful to avoid customer

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