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Professional Development of Financial Managers

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Educating Engineers for Future Industrial Revolutions (ICL 2020)

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 1329))

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Abstract

National economies impose new challenges on training competitive professionals who can succeed in high performance jobs. Financial management is one of them. This business demands professionals with innovative competences, and universities are responsible for training them. Professional development for financial managers, however, received little attention in recent publications. To bridge this gap, the article draws on the results of investigating the curricula for financial managers in universities. The paper aims at defining the theory and methodology underlying the professional development of financial managers and exploring the necessary changes to be introduced in the educational process, its content and forms. The following factors influencing the professional development of financial managers: awareness of personal psychological and physiological characteristics and capabilities, conscious professional choice, adaptability to university and profession, willingness for life-long learning, readiness for changes in profession. Based on these factors, the authors identified the following standards for the content of education for financial managers: student-centered approach to teaching management, marketing, human relations, entrepreneurship and business skills; project-based approach to teaching applied skills through real-world practice; close collaboration between the universities and employers. The survey results showed that the skills formed in university degree programs influence the professional development of financial managers and improve the competitiveness of the graduates. The survey revealed the basic competences of financial managers, including the innovative competences based on the professional standards and market demand. Further research can be aimed at developing special professional development programs for financial managers based on these findings.

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Authors and Affiliations

  1. Kazan National Research Technological University, Karl Marx Street 68, 420015, Kazan, Russian Federation

    Petr Osipov & Elena Girfanova

Authors
  1. Petr Osipov
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  2. Elena Girfanova
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Correspondence to Petr Osipov .

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Editors and Affiliations

  1. Carinthia University of Applied Sciences, Villach, Austria

    Michael E. Auer

  2. Tallinn University of Technology, Tallinn, Estonia

    Tiia Rüütmann

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Osipov, P., Girfanova, E. (2021). Professional Development of Financial Managers. In: Auer, M.E., Rüütmann, T. (eds) Educating Engineers for Future Industrial Revolutions. ICL 2020. Advances in Intelligent Systems and Computing, vol 1329. Springer, Cham. https://doi.org/10.1007/978-3-030-68201-9_27

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