11011 | Orientation Business | Assessment Answers

Some of them argue that for one to fit into the financial service industry then they must some kind of math genius. This is however not true. There are certain standard qualifications that are needed; first and foremost one must be really good in quantitative skills. One has to be really good with numbers in this sector, one just needs to pursue at least a course or two in statistics and finance then they are ready to go. Not so much math is needed as people have always thought (Thrift & Amin, 2017 p.119).

Some skills needed for the financial service industry and their implications to persons wishing to commence careers in FSI

The following skills are needed in the financial service industry;

Communication skills-In this sector, one would engage themselves in both finance professionals as well as persons who have limited financial knowledge. It is therefore required that one’s communications kills are so well so as to avoid misunderstanding and passing of wrong information to clients (Shaw, Bailey, Williams, 2011 p.107).

Numeracy skills-This involves being in a position to understand and interpret different information presented to you in numeric and other graphical representation.

Leadership and team management-Leadership is very essential here, one should be able to be a leader and step in incase situations arises and they have to step in.

Teamwork-One should be in a position to work and relate well with others.

Customer care services-One must also master the art of being able to both talk well and relate in a good manner with the customers (Shaw et al, 2011 p.201).

From the above mentioned skills, it is a challenge to each and every person who wishes to commence a career in the financial service industry, they should be in a position to have and master each of the above skills.

A reflection on my current skills (Shaw et al, 2011 p.276).

The table shown above presents some of the skills needed in the FSI and the current level that I am. Well, throughout this course, I have been trying to attain some of the important skills needed form my future career. Nothing comes on a silver platter they say.

The skills that I am good at are communication and numeracy. I have always been good with numbers and interpretation (Laudon, 2013 p.179).My communication on the other hand has always been at its best. I can really talk, I have always been the class representative ever since I got to high school because the rest of the class believed that I could properly voice their complains.

Leadership and team management is on lowest ranking skills in my list. I have never really been a leader; I have always wanted to work alone (Rose, 2012 p.45).I had this feeling that doing I could only get things done if I work alone.

Conclusion.

As discussed above it is now clear to me that financial service industry provides different skills to the learner’s .Also, anyone who is anticipating to perform well in commerce industry need to familiarize with the key skills I have discussed. Comprehending these skills helps in job efficiency therefore helping learners to perform well when employed.

References.

Laudon, K.C. and Traver, C.G., 2013. E-commerce. Pearson.

Philippon, T., 2015. Has the US finance industry become less efficient? On the theory and measurement of financial intermediation. American Economic Review, 105(4), pp.1408-38.

Rose, P.S. and Hudgins, S.C., 2012. Bank management & financial services. McGraw-Hill Education.

Shaw, G., Bailey, A. and Williams, A., 2011. Aspects of service-dominant logic and its implications for tourism management: Examples from the hotel industry. Tourism Management, 32(2), pp.207-214.

Thrift, N. and Amin, A., 2017. Neo-Marshallian nodes in global networks. In Economy (pp. 159-175). Routledge.

Vogel, H.L., 2014. Entertainment industry economics: A guide for financial analysis. Cambridge University Press.