Personal Economic Independence: Execution of Economic Work

Execution of Economic Work:

An economic work requires three steps for its execution; acquirement of marketable financial skill(s), setting up financial targets, short run and long run, and implementation of financial skill(s). Firstly, it is binding on the economic agent to gain knowledge and establish skills relating to the profession he/she chose. Peter F. Drucker, an American management consultant, in his book, The Practice of Management, inscribes the situation of lacking financial intelligence: “if he (the worker) lacks information, he will lack both incentive and means to improve his performance.”

Secondly, realize what you want in future and set up financial targets accordingly. A rational economic agent must have purpose(s) to earn monetary benefits; aimless chase of wealth without any specification of income stream is wrong. Lastly, put the acquired financial skills, proactively, in application to realize financial targets.

← Selection of Profession

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About Muhammad Ashhar

A high school student with an interest in business and entrepreneurship, a writer, football enthusiast and movies/tv-shows fan!

2 thoughts on “Personal Economic Independence: Execution of Economic Work

  1. Pingback: Personal Economic Independence – Selection of Profession | Effective Thoughts

  2. Pingback: Personal Economic Independence – Hurdles during Economic Struggle | Effective Thoughts

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