Where ignorance is not bliss : The need for improved financial understanding among managers

A number of professors from American business schools have, over the last few years, taken sessions on finance as part of management development courses run by the training centre of a major UK company. There is one consistent view expressed forcibly by these American visitors. Compared with equivalent managers in the States, there is a serious lack of basic financial knowledge among the non‐accountant group. Furthermore, in the opinion of UK teachers who have had contact with this company, the general calibre and level of awareness of financial matters of their managers is significantly higher than the average UK group.