Financial literacy: Difference between revisions
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The term "financial literacy" developed from the concept of language literacy, the ability to read and write to a minimum level to participate in activities mediated through text. | The term "financial literacy" developed from the concept of language literacy, the ability to read and write to a minimum level to participate in activities mediated through text. | ||
By extension, in the organisational context, financial literacy is the minimum level of financial understanding, skills and education that non-finance specialist managers | By extension, in the organisational context, financial literacy is the minimum level of financial understanding, skills and education that non-finance specialist managers need in order to be fully effective in their organisational roles. | ||
The more senior the individual's organisational role, the greater the level of financial literacy they need in order to be effective. | The more senior the individual's organisational role, the greater the level of financial literacy they need in order to be effective. | ||
Corporate treasurers need the highest levels of financial literacy to be fully effective in their work. | |||
:<span style="color:#4B0082">'''''Resources - talent & skills'''''</span> | |||
:"The ACT requests that the next UK Government take all necessary steps to enhance the UK as an attractive place to do business... | |||
:Corporates require access to a deep pool of talent; workforces need upskilling to address particular skills gaps that have been identified by our members - these gaps include financial literacy, financial risk management and technology skills. | |||
:Furthermore, this access to talent needs to be disseminated across the whole ecosystem to futureproof the UK economy, especially addressing skills gaps in smaller organisations (who typically form the supply chains of larger businesses)." | |||
:''ACT - UK General Election Manifesto 2024.'' | |||
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* [[Business risk]] | * [[Business risk]] | ||
* [[Centre for Excellence in Financial Inclusion]] | * [[Centre for Excellence in Financial Inclusion]] | ||
* [[Corporate treasurer]] | |||
* [[Ecosystem]] | |||
* [[Efficient market]] | * [[Efficient market]] | ||
* [[Fair market]] | * [[Fair market]] | ||
| Line 22: | Line 38: | ||
* [[Financial exclusion]] | * [[Financial exclusion]] | ||
* [[Financial inclusion]] | * [[Financial inclusion]] | ||
* [[Financial risk management]] | |||
* [[Financial wellbeing]] | * [[Financial wellbeing]] | ||
* [[Fraud]] | * [[Fraud]] | ||
| Line 29: | Line 46: | ||
* [[Operational risk]] | * [[Operational risk]] | ||
* [[Operations]] | * [[Operations]] | ||
* [[Organisation]] | |||
* [[Performance risk]] | * [[Performance risk]] | ||
* [[Retail]] | * [[Retail]] | ||
* [[Risk management]] | |||
* [[SDG 4]] | * [[SDG 4]] | ||
* [[Supply chain]] | |||
* [[Sustainable Development Goals]] | * [[Sustainable Development Goals]] | ||
* [[Systems risk]] | * [[Systems risk]] | ||
* [[Technology]] | |||
* [[Treasury operations]] | * [[Treasury operations]] | ||
* [[Treasury risk]] | * [[Treasury risk]] | ||
Latest revision as of 18:12, 26 June 2024
1. Organisational structure - governance - risk management.
The term "financial literacy" developed from the concept of language literacy, the ability to read and write to a minimum level to participate in activities mediated through text.
By extension, in the organisational context, financial literacy is the minimum level of financial understanding, skills and education that non-finance specialist managers need in order to be fully effective in their organisational roles.
The more senior the individual's organisational role, the greater the level of financial literacy they need in order to be effective.
Corporate treasurers need the highest levels of financial literacy to be fully effective in their work.
- Resources - talent & skills
- "The ACT requests that the next UK Government take all necessary steps to enhance the UK as an attractive place to do business...
- Corporates require access to a deep pool of talent; workforces need upskilling to address particular skills gaps that have been identified by our members - these gaps include financial literacy, financial risk management and technology skills.
- Furthermore, this access to talent needs to be disseminated across the whole ecosystem to futureproof the UK economy, especially addressing skills gaps in smaller organisations (who typically form the supply chains of larger businesses)."
- ACT - UK General Election Manifesto 2024.
2. Financial wellbeing and inclusion.
The minimum level of financial understanding that individuals need in order to manage their personal and household finances, and mitigate their risks of being victims of certain forms of financial fraud.
See also
- Back office
- Business risk
- Centre for Excellence in Financial Inclusion
- Corporate treasurer
- Ecosystem
- Efficient market
- Fair market
- Finance
- Financial exclusion
- Financial inclusion
- Financial risk management
- Financial wellbeing
- Fraud
- Governance
- Household
- Learning and development (L&D)
- Operational risk
- Operations
- Organisation
- Performance risk
- Retail
- Risk management
- SDG 4
- Supply chain
- Sustainable Development Goals
- Systems risk
- Technology
- Treasury operations
- Treasury risk
- Wellbeing
