Mastering a language like German can unlock doors in international markets, often leading to untapped financial potential. It's not merely about communication; it's an asset that elevates your marketability worldwide.
Whether you're eyeing career growth or investment opportunities abroad, language proficiency is the key that turns aspirations into tangible successes.
Online learning platforms stand ready to streamline this linguistic journey. They offer a bridge to these opportunities, providing efficient paths toward fluency that fit into even the busiest of schedules.
Let's examine how this tool can shape your global financial landscape.
The Power of Language in Global Employability
Fluency in a high-demand language like German (we’ll use this as our example throughout) can be a significant catalyst for career progression. It's a competitive edge that makes you stand out in a crowded job market. Multinationals and startups alike hunt for talent that can navigate cross-cultural waters with ease.
This linguistic leverage opens up high-calibre positions that were once beyond reach. From Berlin's tech hubs to Switzerland's financial centres, the opportunities are as rich as they are varied.
Indeed, the right language skills are not just valuable - they're essential for those looking to scale international career ladders.
Navigating Online Language Courses
The digital landscape is flush with language courses, yet choosing a reputable provider is paramount. A structured online course delivers more than vocabulary and grammar; it builds the robust linguistic foundation necessary for professional interactions.
Quality programs employ immersive techniques that mimic real-world conversations, ensuring you're not just learning but internalizing the language. These courses often incorporate current cultural nuances vital for understanding and engagement.
And, boosting your German-speaking skills through these platforms can be remarkably efficient, providing you with practical knowledge that translates directly into workplace competence. The right course isn't just an education - it's a springboard into international markets.
Leveraging Language for Investment Ventures
In the realm of international investing, language proficiency is more than a courtesy - it's a strategy. To continue with our example, knowing German can bridge the gap between foreign markets and investors, facilitating nuanced negotiations and fostering trust.
With these communication tools, you can better understand local market dynamics and regulations. This insight is invaluable; it informs smarter investment decisions and creates opportunities for higher returns.
Ultimately, language is the currency in the global economy. For investors looking to expand their portfolios abroad, particularly in German-speaking regions, fluency could be your most profitable asset.
Expanding Your Network Abroad
Beyond the boardrooms and balance sheets, language mastery facilitates invaluable networking opportunities. Engaging authentically with peers abroad can lead to partnerships, mentorships, and the exchange of industry insights.
The social dimension of business flourishes when you speak the local tongue - opening doors to high-level connections that were once closed through:
- Cultural Competence: Gain a deeper understanding of local customs for more effective communication
- Professional Forums: Access industry events and conferences as an insider
- Strategic Partnerships: Navigate collaborations with ease
- Mentorship Opportunities: Connect with international thought leaders
- Investment Insights: Tap into the collective knowledge of the region's market experts
Cultivating a Global Mindset
The ripple effect of language acquisition extends beyond immediate transactions. It shapes a global mindset essential for today's interconnected economies. German, being the lingua franca of pivotal European industries, can be the lens through which international trends and consumer behaviours are discerned.
This broader perspective is key when forecasting market shifts or identifying growth sectors. It cultivates an informed approach to global business that resonates with multinational teams and clientele.
For professionals committed to lifelong learning, adding German to their skill set is not just strategic - it's transformative. It equips them not only to adapt but thrive amidst the complexities of international finance and trade.
Linguistic Mastery: The Key to Unlocking Entrepreneurial Success Abroad
Entrepreneurs know that successful business ventures often depend on nuanced understanding and local insights. When you speak the language, it's not just words that you're exchanging; it's trust, credibility, and cultural affinity. In German-speaking territories, this translates to better market penetration, stronger customer relationships, and ultimately, a more robust bottom line.
For those with an entrepreneurial spirit looking abroad, fluency in the local language can open up a new frontier for innovative products and services while ensuring alignment with regional sensitivities.
Grasping Consumer Preferences
Understanding spoken nuances helps entrepreneurs tailor their offerings to meet the specific tastes and demands of the local market. This leads to products that don't just sell but resonate deeply with consumers.
Navigating Bureaucratic Processes
From registering a company to tax filing - speaking the language can simplify interactions with government agencies and streamline legal procedures, facilitating a smoother launch of your venture.
Forging Local Alliances
Language skills aid in building strategic alliances with local businesses. These partnerships can be crucial for logistics support, marketing collaborations, or expanding distribution networks.
In essence, fluency in a new language is not just about words - it's a strategic tool that can sharpen your edge in the global marketplace. Whether you're a seasoned investor or a pioneering entrepreneur, language competence can amplify your financial opportunities.
As the bridges between cultures strengthen, so too does the potential for your success abroad.
Most people prefer online learning systems as they offer the best opportunity to learn from their comfort level. Education technology is not restricted only to academics and student-level courses.
Various business institutes have also started their studies on online platforms. There are many useful websites and a Microsoft learning portal that provide different types of business courses. These sites have a more straightforward process. The user has to first register over the website, select the course, study the material, give the exam, and the virtual authorized certificate is provided to the candidates.
The main benefits of using online learning courses for the corporate finance business are as follows:
Cost and Time Saving
Physical institutes offer full-time courses for young entrepreneurs, but not everyone can keep aside their office workings to excel in the skills. Plus, the institutes charge massive certificate course fees as the operating cost of the physical institutes are higher. That is why most applicants prefer to register for online courses. There is no restriction for the completion and timing of the course. One can complete the classes according to their schedules. Many of the online courses are free, and many websites offer hefty discounts on the completion of the course. It reduces the overall cost of the course completion.
Learn Operational Financing
No business organisation can perform well without an efficient system for operating its finances. It is a global business demand that businesspeople must learn financing skills. All public, private, and non-profit organisations require the management of finances.
Global companies like to collaborate with individuals who are certified with business courses. Useful online websites have a top-quality study material. The teaching standards and the learning curriculum are high as compared to physical institutes. The best faculties are hired to record the lectures. Review sections, FAQs, accessible definitions, word meanings, recap features, quizzes, test series, etc., offer the best online learning experience.
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Improves Business Performance
Poor business and financing skills can lead to losses to a business. The upgrading of business skills is important to sustain the businesses in the competition. This is why online learning courses are considered effective. The one-to-one experience increases the concentration power of the listener and reader. The peaceful online environment increases the learning speed. The facility to save the lectures on the offline mode help in saving listening time. People can enjoy listening to videos while traveling or during free-time.
Online learning is offering people a continuous learning facility. Whether you want to upgrade your business skills, financial skills, or just want to read about the latest trends in the market, online websites are the fastest means of communicating the latest information. As more and more activities have been shifted to the virtual world, it is time to move our learning systems on the internet. Online courses can be a motivation for the young workforce to upgrade their skills while working in the corporates. Different levels of courses are available for different types of people. Select the beginners, medium, and advanced classes accordingly to learn new skills.
Money makes the world go round, and it’s at the centre of our day-to-day lives for a variety of reasons. A 2018 study found that three quarters of Britons were worried about their finances, and further research concluded that over half of UK adults are concerned that their mental health is suffering in relation to money worries. So, what’s the current situation and how can we improve on teaching young people how to manage their finances?
We take a look, with some help from Business Rescue Expert, company liquidation specialists.
The millennial challenge
Millennials have brought a host of gaps in the teaching of finance to the surface, and countless studies have concluded that when it comes to money, this generation haven’t been taught adequate lessons. Millennials’ spending patterns stand in stark contrast to their predecessors; they’re keen to splash out on experiences and don’t often take to the idea of big commitment purchases seriously — for example, houses. Millennial spending habits signify the disparity of their knowledge and attitude towards budgeting — research has found that 60% of these youngsters said they are willing to spend more than £3.11 on a single cup of coffee, while only 29% of baby boomers would splurge for caffeine. A lack of financial literacy in education has undoubtedly played a role in this, with many young people under the illusion that simply earning a lot of money means that you’ll never be in any debt, along with a general unwillingness when it comes to making sacrifices for the sake of budgeting. One survey found that 42% of teenagers said that they wanted their parents to talk more about finances, and a staggeringly low 32% said that they knew how credit card fees and interest worked. Teenage years are pivotal points for learning, so why is financial literacy being left out?
Revised curriculums
Finances are complex and teaching them can require a lot of technicality and practical examples in order to make any sense. Lessons in finance differ from core subjects like English and Science, as they provide life skills which, if not learned, will be detrimental as kids grow older and enter adult life. One UK primary school created its own bank, to combat ‘below average’ financial literacy learning. Despite financial literacy being introduced to the national curriculum in England in 2014, not everyone believes that school is the place for financial education. Some believe the duty should be on parents to teach their children the real value of money and how to approach it. It’s worth noting that in private schools, faith schools, and academies, it isn’t a compulsory part of the curriculum, so many youngsters would still miss out on these lessons. A lot of schools who do incorporate it into the school day compartmentalize it into general ‘citizenship’ lessons, but it’s arguable whether enough emphasis is placed on it here.
The benefits of teaching financial literacy
The areas of financial literacy currently covered under the national curriculum include savings and investments, pensions, mortgages, insurance, and financial products. It’s still a relatively recent introduction to schools, so not all teachers may feel confident in teaching it yet, due to the specialised, complex nature of the topics. There is also the matter of religious differences in the approach to and teaching of these finance lessons. Followers of the Islamic faith are prohibited from using any form of compound interest. This relates to things like conventional mortgages, student loans and car loans, all of which are commonplace in many other cultures.
For this reason, making financial literacy universal, understandable, and an essential part of learning can be difficult. Maths might seem like an obvious place to drop lessons of finance in amongst existing content, but debate is rife as to whether subjects like trigonometry are still deserving for a place on exam papers, when finance lessons could take their place and provide long-lasting life skills.
While there is undoubtedly an absence and lack of depth in financial literacy, these lessons could become more popular in the future. These skills will prove invaluable for youngsters as they progress through life, and they could eventually counteract the stereotype of a financially irresponsible or illiterate millennials.
Personal finance should be included as a standalone subject in UK schools, affirms Nigel Green, founder and CEO of deVere Group.
Mr Green is speaking out days after the leader of the Church of England, the Archbishop of Canterbury, said that learning about finances is as important as learning about sex and relationships.
The Archbishop, Justin Welby, said: “Research has shown that habits and attitudes to money are already being formed at the age of seven.” He added, “We would like to see financial education receive parity with sex and relationships education.”
Mr Green states: “I fully support the view that we need greater and more robust personal finance education in schools.
“Currently, financial education is not a standalone subject, but is instead included within other subjects, such as mathematics.
“It’s a step in the right direction, does not go nearly far enough. It should be a defined subject, alongside more traditional subjects such as English and science.”
He continues: “Financial literacy is a fundamental life skill for successfully participating in modern society, yet it is consistently overlooked or not given the credence it deserves.
“Today’s world is increasingly complex and children need to be taught how to manage their own financial futures by learning how to budget, make sensible decisions for everyday matters, how to effectively save, how to avoid taking on unnecessary and/or avoidable debt, how to analyse and compare financial products, and make provision for their healthcare and old age.
“Contributing to the complexities are monumental technological advances, economic shifts and developments in transactions and communications.”
He goes on to add: “Low levels of financial literacy can have a far-reaching impact on individuals, their families and wider society. Indeed, it was one of the factors that many experts believe help exacerbate the global financial crisis that began in 2008. It is also often connected to greater reliance on state support, and lower standards of living.
The deVere CEO concludes: “Financial literacy can equip young people with the confidence, skills and know-how to obtain future financial freedom for themselves and their families – and this is why we should all support the growing calls for personal finance to be a standalone subject in schools.”
(Source: deVere Group)
Far from taking human jobs in future, Artificial Intelligence (AI) and Machine Learning (ML) technologies are going to free up finance professionals from spending too much time on monotonous tasks and allow them to focus on more strategic tasks of higher value to the business. Does this mean that finance roles will mostly be driven by robots? Below Tim Wakeford, VP of financials product strategy EMEA at Workday, discusses with Finance Monthly.
A recent EY study revealed that the majority (65%) of finance leaders said that having standardised and automated processes—with agility and quality built into those processes—was a significant priority when it came to investing in emerging AI and other technologies. And, following on from this, 67% of finance leaders said that improving the relationship between finance and the wider business strategy was also a key priority.
Again, this is an area where automation and AI technologies are helping free up time for finance to spend more time working with other teams within the business. This enables them to figure out where to go next as opposed to looking backwards and dealing with unproductive and time-consuming legacy finance systems.
Freeing up talent to focus on high-value tasks
Freeing people up from repetitive jobs to enable them to focus on high-value tasks is the opposite of the oft-cited “robots putting people out of work” narrative.
Indeed, automation is a huge opportunity to reduce the unnecessary burden and pressure that’s put on finance professionals, particularly around traditional tasks such as transaction processing, and audit and compliance.
The adoption of AI applications within finance enables forward-thinking executives to move info far more strategic business advisory roles. This means that they can focus less on number crunching and more on financial analytics and forecasting, strategic risk and resilience, and compliance and control. This shift to data-driven financial management delivers a much wider benefit across the business.
The Rise of the robots: AI in finance
Computer systems performing tasks that previously required human intelligence is the definition of AI, with experts viewing AI and automation as viable solutions to efficiently deal with compliance and risk challenges across different sectors.
With the rise of the ‘big data’ era comes a parallel growth in the need to analyse data for financial executives to be able to properly manage compliance and risk.
This is another reason why finance teams cannot ignore the opportunities that embracing AI technologies offers them. It allows them to process vast amounts of data faster and easier than large teams of humans can.
Individuals are then able to make better strategic decisions based on the information that AI is able to rapidly extract from what were previously time-consuming and repetitive and monotonous tasks such as transaction processing.
Jobs least likely to go to robots
Forward-thinking and highly-skilled financial executives are happily embracing AI, as they see the clear opportunity it presents to play a more valuable and strategic role within their organisation.
“The challenge for managers will be to identify where automation could transform their organisations, and then figure out where to unlock value, given the cost of replacing human labour with machines and the complexity of adapting business processes to a changed workplace.” This is how writers James Manyika, Michael Chui and Mehdi Miremadi so fittingly describe the process in their book These Are the Jobs Least Likely to Go to Robots.
“Most benefits may come not from reducing labour costs but from raising productivity through fewer errors, higher output, and improved quality, safety, and speed.”
AI and automation in finance has to be about reducing repetitive manual tasks and raising overall productivity through data-driven business strategy. The bottom line is this: any technology that can reduce manual input and the associated human errors for transaction processing and governance, risk, and control (GRC) will free up finance professionals for more strategic work.
Any organisation’s most important asset is its people. And finding out which emergent AI technologies and applications are the best for a business and its people is going to be key for the future of finance.
Giving skilled finance staff the autonomy and opportunity to move into far more strategic data interpretation roles and letting the machines take on the grunt work is a necessary shift in the finance function.
As well as automating a large part of the finance function, AI technology will also help skilled finance executives to make a far more sophisticated analysis of complex data sets and to provide genuinely valuable insight to drive the business forward.
There is very little doubt that the future of finance will be one that embraces technological innovations to improve effectiveness, increase efficiency, and enhance insight.
Following on from last year’s top 10 must read finance books, Tamir Davies, content writer and researcher for Savoy Stewart, advises Finance Monthly on the top 10 business books to look out for, with her own blurb on each and some advice on which reader they are best suited to.
The first month of 2018 is done, and as we continue into the next few months, many Brits will have set aspiring goals and achievements to mark off their bucket lists for the remainder of the year. Whether it be a personal or professional accomplishment, the new year marks a ‘new you’, with a never-ending list of books to read, websites to browse, knowledge to be attained and situations to be resolved. Whilst it’s incredibly easy in this modern world to turn our eye to the internet for a quick fix, we have become incredibly complacent to picking up a book. There is nothing quite like opening freshly printed books, with that lingering sweet smell resembling notes of vanilla flowers and almonds. And even the manufactured smell of new books can’t be mistaken for being better than the world wide web.
If you’re looking to build your collection and to learn something new in your professional field, albeit financial and or business related, here are the 10 most inspiring must-read business books.
1. Cryptocurrency: Advanced Strategies and Techniques to Learn and Understand the World of Cryptocurrency by James C. Anderson
Cryptocurrencies have most certainly made their financial mark on business, proving to be worthy investments for the future of currency. Considering how many Brits have become self-made millionaires after holding onto the currency, it’s no surprise that those investing in cryptocurrencies are looking to know more than just the basics. Perhaps you’re asking yourself more in-depth questions such as ‘why does it have any value?’. Cryptocurrency: Advanced strategies and techniques to learn and understand the world of Cryptocurrency will answer all your questions of interest, demonstrating how this new inventive currency will fit into the modern economy. The book assesses its effect on the economy, how it will grow and shape finance, and finally whether it is sustainable.
Read this book if: You’re bored of conventional strategies to make money and looking to help change the world that little bit more.
2. When to Jump: If the Job You Have Isn't the Life You Want by Mike Lewis
Mike Lewis, the founder of When to Jump, presents his book When to Jump: If the Job You Have Isn’t the Life You Want, for anyone who feels they have reached a career crossroad. Do you follow your dreams, or do you stick it out because you need the money, the security and longevity of a job that is in front of you? Mike Lewis goes through in detail the ‘Jump Curve’, what he describes are four steps to wholeheartedly pursue the career you have always dreamt about. The book is a beautiful collection of curated stories from like-minded people who share how they took a leap into the unknown. Mike Lewis recently won the Goldman Sachs accolade for ‘100 Most Intriguing Entrepreneurs’.
Read this book if: You’re sat at your office desk, reading this post and thinking ‘what am I doing here?’.
3. Crushing It! How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too by Gary Vaynerchuk
Crushing It, explores how entrepreneurs and influencers who left their career path which had been somewhat mapped out for them, and went on to build thriving and highly successful businesses. The four-time New York Times bestselling author Gary Vaynerchuk hopes in his new book to inspire similar business men and women with dreams of doing what they love, by offering a unique perspective and lessons to be taken which would help with taking their career to a new level. Gary shares stories of those who have grown wealthier, by adopting principles discussed in his book. Gary dissects every social media platform to help anyone of any career field or title how to maximise and optimise their brand presence.
Read this if: You’re a lively individual, looking for something new to dabble in. Perhaps you’re not doing it for financial gains.
4. The Four: The Hidden DNA of Amazon, Apple, Facebook and Google by Scott Galloway
We all log into Facebook, purchase from Amazon, use software from Apple and search for what our heart desires from Google. But have you ever considered their ultimate power as giants of the 21st century? Scott Galloway, in his new book The Four, asks fundamental questions, such as ‘how did the Four infiltrate our lives so completely that they’re almost impossible to avoid (or boycott). Scott Galloway is one of the world’s most celebrated and prolific business professors, and has deconstructed the methods and strategies used by these ‘Four’ giants, and shows you how you can apply the same measures and principles of their tenacity to your own business ventures.
Read this if: You love or loathe these giants of the world, but wish to replicate their deepest, darkest methods of success.
5. Business for Bohemians: Live Well, Make Money by Tom Hodgkinson
Tom Hogkinson, a renowned journalist has combined his wisdom for cash flow forecasts, tax returns, and anything business related, in his book Business for Bohemians, with practical advice and engaging anecdotes to create a refreshing outlook on how to create a greater level of freedom in our working careers. No matter your business dreams, this book will equip you with the skills to turn your talent into a profitable and enjoyable business. The book will navigate how to become a wizard of excel, a social media maven and the art of negotiating with clients, companies and friends, when business is just business.
Read this if: You fear losing your mogul personality when building your business.
Click to reveal the NEXT 5 must read business books of 2018!
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The top 15 books to read for business, investment, and life, with descriptions and tips on when to read.
Overwhelmed by demanding new regulations, leading financial institutions are relying on video to manage the flow of critical information to employees. Below Paul Herdman, Vice President of Qumu EMEA, explains how finance teams and compliance officers can make the most of enterprise videos.
With worldwide financial institutions finally beginning to recover from Brexit, and derivatives markets still adjusting to the rollout of MiFID I, the next communication crisis for this turbulent industry is already looming. As political and regulatory regimes continue to extend their influence, firms doing business across the EU must now preparing for implementation of the revised Markets in Financial Instruments Directive (MiFID II)—which reaches beyond banking to impact trading as well—while US-based financial institutions are busy figuring out how to comply with GDPR (the EU’s General Data Protection Regulation).
With both regulations including organisations and their global subsidiaries, greater market transparency in the financial industry is becoming a worldwide mandate. These new directives will have a huge impact on regulated firms in 2018 and beyond and will require financial institutions to upgrade their processes, their compliance operations and most importantly their communication technologies.
A 2017 Thomson Reuters survey revealed the average annual cost of compliance for global financial organisations is $119M per organisation. Additionally, 73% of communication professionals reported that communicating company news to employees is a serious challenge and 37% reported internal silos as the number one challenge for internal communications.
As these companies respond to increasing demands of regulators to meet new directives, many are proactively focusing on developing robust communication programmes. And the centrepiece of these new programmes is, in many cases, an enterprise video platform. Live or on demand, IT executives know that video communication can be fully automated, easily searchable and consumed on any device—making it the perfect communication solution in highly regulated environments. In fact, if managed well, video communication can translate into shorter time-to-compliance, and save financial services firms hundreds, or even thousands, of dollars per year per employee.
But how?
Enterprise video to the rescue
There are many ways using an enterprise video platform can help financial institutions meet compliance directives:
Timely communication: when workforces are dispersed, video messages can be easily created and instantly distributed to employees as regulations change.
Opportunities for feedback: key stakeholders can submit feedback and questions to the executive team, which can be captured and tracked for future resolution, or to identify gaps in the current process.
Timely collaboration: financial institutions can create private communication channels where key team members can share knowledge, insights and outcomes related to their discipline or functional responsibility.
Strategy alignment: video is a great way to present a consistent story across the organisation—before the message is taken externally and any room for misalignment is eliminated.
Increased readiness: video polls can be used to gauge readiness on a specific topic or portion of a new regulation, reinforcing mission-critical compliance procedures.
Documented audit trail: with marketing teams playing a key role in the new directives, automated workflows for approvals and audit trails are key for financial promotions and marketing collateral compliance.
Configurable security: executives can share knowledge quickly across the organisation, privately to specific groups of key stakeholders or to larger audiences with no content restrictions.
Reporting and analytics: a video content management system can provide advanced analytics on content review, meeting attendance and overall engagement with the company message.
In conclusion – broaden your reach
Technology investments in enterprise video are key to mitigating regulatory risk. Not only do they provide a platform to communicate how regulatory changes will impact activity, but they allow financial institutions to quickly adapt to evolving rollouts, and ensure that all financial activities, including trades, remain in compliance. With the right enterprise video platform in place, many global financial institutions have been prepared well in advance for MiFID II and GDPR to happen. Is your company ready?
If you are interested in any small scale company video production in the UK, businesses can reach out to Tell Your Story UK here.
Stephan Thoma, Google's ex Global CLO, shares his thinking on an innovation model you can use allocate resources to allow for fresh thinking, new ideas and experimentation. Sign up for more thought leadership pieces here: https://fuse.fuseuniversal.com/commun...
About Stephan:
Stephan Thoma has been an executive level leader in the global talent & leadership development world for over 25 years, most notably at Google for nearly eight years as Global L&D Director. He is now an independent Advisor and Coach to L&D /HR leaders, and Visiting Professor at the Centre for the Digital Economy.
About Fuse:
Fuse Universal (Fuse) is a global learning technology solution disrupting the learning technology and communication space. Fuse has a new approach to online learning, knowledge sharing and communication in the workplace through its innovative technology platform, that supports continuous, social, blended and mobile learning.
