FT Guide to Finance for Non-Financial Managers

Introduction

Decisions, decisions: every day we are making decisions. Some are made without any thought of the consequences; others are considered like those of a champion chess player, reflecting on the consequences of moving this way or that way or not moving at all.

In our global economy with its rapidly changing markets, we see new and successful players enter the business game, and economies that previously seemed robust falter and fail. The ability to make sound financial decisions is more important than ever before.

Of course bad decisions will always be made and hindsight is a wonderful thing, as Decca Records know all too well after turning down the Beatles.

But Decca are by no means alone. In 1876, a Western Union internal memo read ...