The document discusses the evolving role of chief financial officers (CFOs) in business. It describes how CFOs are increasingly acting as partners to CEOs and helping to lead companies by supervising departments beyond just finances. An effective CFO can help steer a company through major initiatives like mergers and acquisitions or initial public offerings. Selecting the right CFO is one of the most important jobs for a CEO, as a great CFO is integral to building a strong management team.
How CFO's Can Turn Stakeholders Into Allies - By Maureen O'ConnellMaureen O'Connell
I, Maureen O'Connel, CFO at Scholastic Corportation will try to offer 3 helpful guidelines on how CFOs can turn unfamiliar stakeholders into loyal allies even as the clock is ticking.
25 Quotes from Samuel Dergel's book - Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals. Available Now for Pre-Order with Delivery March 31, 2014. http://www.guidetocfosuccess.com
3 Essential Steps to Taking Over as CFO Effectively by Maureen O'Connell, CFO...Maureen O'Connell
In this presentation, Maureen O'Connell, CFO at Scholastic Corporation points out 3 essential steps that would benefit new CFOs regardless of the backgrounds that they come from.
On the Road to CFO - Presentation at CMA Leadership Conference, May 2012Samuel Dergel
Using tools from my CFO Coaching kit, I will guide the audience to understand what it will take them to grow into a strategic and valuable CFO.
Attendees will learn to:
Identify the key relationships necessary for CFO Success
Apply the key steps on the ladder to the CFO role
Add value to their employer as they grow into the CFO role
10 Ways to Spot a Weak Finance ExecutiveJoya Cousin
Are financial reports at your company always late? Is the controller always stuck behind his or her desk? Here are 10 tell-tale signs of a weak finance manager.
9 Essential Words For A CFO’s Dictionary by Maureen O’Connell, Scholastic Inc.Maureen O'Connell
A CFO's task is to stay on top of things at all times. In this presentation, I have jotted 9 words and tasks that every CFO must have on top of their minds at all times. Follow the link for more presentations: vimeo.com/maureeneoconnell
How CFO's Can Turn Stakeholders Into Allies - By Maureen O'ConnellMaureen O'Connell
I, Maureen O'Connel, CFO at Scholastic Corportation will try to offer 3 helpful guidelines on how CFOs can turn unfamiliar stakeholders into loyal allies even as the clock is ticking.
25 Quotes from Samuel Dergel's book - Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals. Available Now for Pre-Order with Delivery March 31, 2014. http://www.guidetocfosuccess.com
3 Essential Steps to Taking Over as CFO Effectively by Maureen O'Connell, CFO...Maureen O'Connell
In this presentation, Maureen O'Connell, CFO at Scholastic Corporation points out 3 essential steps that would benefit new CFOs regardless of the backgrounds that they come from.
On the Road to CFO - Presentation at CMA Leadership Conference, May 2012Samuel Dergel
Using tools from my CFO Coaching kit, I will guide the audience to understand what it will take them to grow into a strategic and valuable CFO.
Attendees will learn to:
Identify the key relationships necessary for CFO Success
Apply the key steps on the ladder to the CFO role
Add value to their employer as they grow into the CFO role
10 Ways to Spot a Weak Finance ExecutiveJoya Cousin
Are financial reports at your company always late? Is the controller always stuck behind his or her desk? Here are 10 tell-tale signs of a weak finance manager.
9 Essential Words For A CFO’s Dictionary by Maureen O’Connell, Scholastic Inc.Maureen O'Connell
A CFO's task is to stay on top of things at all times. In this presentation, I have jotted 9 words and tasks that every CFO must have on top of their minds at all times. Follow the link for more presentations: vimeo.com/maureeneoconnell
We would like to take this opportunity to share with you a copy of the recent publication, The Future CFO - as originally published by Raconteur Media on 5 December 2016 in The Times.
In the face of market uncertainties, we never stop believing in increasing shareholder value. GIDE is, therefore, proud to support quality publications that outline important issues and changes in the finance industry.
The CFO's Role In Merger and Acquisitions - By Maureen O'ConnellMaureen O'Connell
Merger & Acquisition deals are most often made to scale up, expand into new geographic markets or product lines, add new capabilities or integrate the supply chain. Regardless of the reason, when your business is considering an M&A, there are 3 essential roles a CFO must play to lead it to success.
Based on responses from 548 enterprise Finance leaders across Europe and Southeast Asia, our free report sets out the key development initiatives and investment needs for the coming years.
CBIZ Finance Conference: Today's Finance ProfessionalCBIZ, Inc.
This CBIZ Human Capital Services presentation goes over the fluidity of the finance professional today, as opposed to it's more structured composition of the past.
Building A Mission-Infused Finance Function In Your NonprofitBrian Buckley
The isolated, cost obsessed, leader of the nonprofit financial function, often the Chief Financial Officer, is obsolete. Siloed finance, program, development departments as well as Finance Committees who don't communicate and align goals are a relic of non-profits who have often lost their way. Success today and long term organizational sustainability requires a mission-infused finance function and finance driven and aware programmatic and administrative teams.
The Importance of Business Acumen: One Manager's JourneyParadigm Learning
Business Acumen, knowing the business of your business, is a key ingredient to providing excellent human resource capability within an organization.
In this presentation, follow Ted as he learns how business acumen affects his role as Operations Manager. You will see the value in why all managers - and employees for that matter - should have a keen sense of business acumen.
The future nonprofit CFO is a mission-infused, proactive leader who drives operations with a nimble financial savvy. Finance and mission are inseparable. It’s important to understand that they’re connected across all of an organization’s sectors, within all of its partner goals, and through all tools that it uses. The aim of a mission-infused finance department is a sustainable nonprofit that invests in a strategy to meet the demands of a continually evolving world. Join nonprofit financial expert Russell Pomeranz as he discusses ways that CFOs can drive operations to align money and mission in a way that helps organizations meet their full potential.
Paul Comstock Partners is a fee-only investment advisory firm. Learn more about how we partner with our clients to enable them to make investment decisions they can trust.
During the TYPO3 Developer Days in Dietikon, Switzerland two brainstorming sessions for TYPO3 5.0 took place. The slides present the results of these sessions.
We would like to take this opportunity to share with you a copy of the recent publication, The Future CFO - as originally published by Raconteur Media on 5 December 2016 in The Times.
In the face of market uncertainties, we never stop believing in increasing shareholder value. GIDE is, therefore, proud to support quality publications that outline important issues and changes in the finance industry.
The CFO's Role In Merger and Acquisitions - By Maureen O'ConnellMaureen O'Connell
Merger & Acquisition deals are most often made to scale up, expand into new geographic markets or product lines, add new capabilities or integrate the supply chain. Regardless of the reason, when your business is considering an M&A, there are 3 essential roles a CFO must play to lead it to success.
Based on responses from 548 enterprise Finance leaders across Europe and Southeast Asia, our free report sets out the key development initiatives and investment needs for the coming years.
CBIZ Finance Conference: Today's Finance ProfessionalCBIZ, Inc.
This CBIZ Human Capital Services presentation goes over the fluidity of the finance professional today, as opposed to it's more structured composition of the past.
Building A Mission-Infused Finance Function In Your NonprofitBrian Buckley
The isolated, cost obsessed, leader of the nonprofit financial function, often the Chief Financial Officer, is obsolete. Siloed finance, program, development departments as well as Finance Committees who don't communicate and align goals are a relic of non-profits who have often lost their way. Success today and long term organizational sustainability requires a mission-infused finance function and finance driven and aware programmatic and administrative teams.
The Importance of Business Acumen: One Manager's JourneyParadigm Learning
Business Acumen, knowing the business of your business, is a key ingredient to providing excellent human resource capability within an organization.
In this presentation, follow Ted as he learns how business acumen affects his role as Operations Manager. You will see the value in why all managers - and employees for that matter - should have a keen sense of business acumen.
The future nonprofit CFO is a mission-infused, proactive leader who drives operations with a nimble financial savvy. Finance and mission are inseparable. It’s important to understand that they’re connected across all of an organization’s sectors, within all of its partner goals, and through all tools that it uses. The aim of a mission-infused finance department is a sustainable nonprofit that invests in a strategy to meet the demands of a continually evolving world. Join nonprofit financial expert Russell Pomeranz as he discusses ways that CFOs can drive operations to align money and mission in a way that helps organizations meet their full potential.
Paul Comstock Partners is a fee-only investment advisory firm. Learn more about how we partner with our clients to enable them to make investment decisions they can trust.
During the TYPO3 Developer Days in Dietikon, Switzerland two brainstorming sessions for TYPO3 5.0 took place. The slides present the results of these sessions.
IPC 2016: Content Strategy for DevelopersRobert Lemke
Long gone are the times where we could get away with creating websites which were pixel-perfect replications of a printed brochure. But publishing to multiple channels, multiple devices, multiple audiences not only creates challenges on the editorial side: how should developers approach content and create content types which support the purpose of the website? What’s a modern approach to CMS-based projects?
IPC16: A Practical Introduction to Kubernetes Robert Lemke
Kubernetes is an open source system for automating deployment, operations, and scaling of containerized applications. It’s one of the promising options you have for deploying your container-based applications to the Internet. In this session we’ll take a look at the concepts of Kubernetes and then go trough all steps necessary to launch and maintain a real-world PHP application in your own Kubernetes cluster.
Summary: To have positive authority upon Information Security is one of the goals every organization should achieve. A CISO (Chief Information Security Officer) is the responsible person in the company who should protect the business from the IT infrastructure. CISO will lead a security professional team which will take care of all the security components within an IT infrastructure.
Presenter: This week’s presenter will be our partner Mr. Daniel Robles, President of Cyborg Consulting, a company involved with Information and Cyber Security consulting, training, auditing and coaching. He is an experienced trainer and consultant with more than 20 professional certificates gained from credible institutions.
WITHIN THE NEXT FIVE YEARS, FINANCE WILL OPERATE DIFFERENTLY
Member of the Team that gives DIRECTION, comes up with strategy and evaluates the structural content of the organization.
NEW TOOLS:
JIT, CAD/CAM, ABC. ABMS, TQM, FMS, CI, TC
NEW MEDIUM:
Computers - PC- Networks - “The Virtual Close” - AA Instant Info
FLT ANALOGY SHOWS IN TROUBLE BUT NOT WHY; NO CAUSALITY
3 steps to implement holacracy in your companyKozo Takei
Since 2007, we DIAMOND MEDIA has been Holacracy model organization. We built a Holacratic management and operating system by ourselves. We finally found the way to implement holacracy in your company only in 3 steps.
Special thanks; Sylvain Pierre, Thomas Rodriguez.
To be a truly effective chief financial officer, you have to learn to be the champion of strategic discipline. Interviews with leading CFOs at Caterpillar, Philips, Sainsbury's, Verizon, and Wells Fargo bring five traits of the strategic CFO to light: value chain insight, business driver leverage, attention to talent, cultural engagement, and integrity and interpersonal skills.
How A Company's CFO Can Make Or Break Your Investment In ItMyCFO Services
In recent years, CFOs have assumed increasingly complex, strategic roles focused on driving value creation across the business. Growing shareholder expectations and activism, more intense M&A, mounting regulatory scrutiny over corporate conduct and evolving expectations from the finance function have put CFOs in the middle of corporate decisions.
Why Hire an FD or CFO?
If you’ve landed on this guide, the chances are that you’re a business owner, CEO, or MD that is looking for help with hiring a CFO or Finance Director that works for your business needs.
Hiring an FD or CFO means that you can have a dedicated person on your team to deal with the financial side of your business. Not everyone who starts a business comes from within the industry or has the knowledge to do things like forecasting or troubleshooting. With an FD, you get to take advantage of their skills and experience to get your business back on track or smash your growth goals. Read our guide to find our more.
The role of FD or CFO is as much about strategy and planning as it is about monitoring the company’s cash flow. For any company to implement a new strategy, you need to have someone on your team with the specialist skills and knowledge to access your current systems and implement alternatives.
Bringing an FD on board is a major decision that you want to get right. Our guide is designed to help you make the right decision for you and your business.
Why Recruit an FD or CFO?
The position of CFO or FD is one of the most versatile in any company. Their role is to help you meet your financial goals and scale up your business, whether it’s through fundraising or company expansion.
You might decide it’s time to recruit a CFO or FD if you want help with fundraising through government programmes or private investors. If you have a merger or acquisition on the horizon, a CFO can ensure the transition is streamlined and runs smoothly. One reason companies choose to recruit an FD is that they are planning to enter a new niche or want to expand their market share in an existing one.
Some of the key benefits provided by a CFO or FD include:
Insights into company performance to improve profits.
Introduces better controls and systems.
Improves cash forecasting and management.
Utilises forecasting, modelling, and planning.
Increases the company’s credibility with external parties, including banks and PE houses.
Brings experience and expertise in a niche field.
Allows your company to plan for the future and formalise business strategy.
Recruit skilled employees to up-scale your business.
To learn more visit our website at https://www.fdcapital.co.uk
Traditional finance is dead. Business has changed significantly over the last 2 decades. While this has opened up a new set of opportunities to reinvent the concepts of finance, a lot of businesses are being left behind as they grapple with issues that a proactive approach to finance could have easily avoided. All hail the new king of finance – Strategic Finance Thinking.
We get asked every other day by businesses we meet – So what is it that you do so differently? While this has become a part of our standard conversation, we thought of putting these thoughts together in a whitepaper that every SMB can use to define what they should be expecting from this new wave.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working with various organizations. They are for the limited purpose of educating the officers of a company. How this applies to your business can vary significantly based on the context, stage, exact nature & size of the business.
Are you wondering about what skills you might need to succeed in a senior finance role? Here is some sagely advice from a former secretary general of the ICAEW.
Chief Financial Officers time to shift focusNeil Holmes
How do today’s CFOs prepare to take on the increasingly broad range of demands placed upon them?
Think about it … formative professional training remains focussed largely on auditing company performance, checking results are reported in accordance with the latest technical guidance and ensuring that the business meets regulatory requirements. And whilst keeping abreast of the numbers is still regarded as a key responsibility of the Finance team, in an increasingly digitised economy Boards are demanding that the CFO also provides greater analysis of what the numbers imply, supporting the business to meet its strategic goals.
The potential to automate and outsource control and governance procedures could arguably lead to these skills becoming a commodity, with the CFO increasingly expected to devote more time to ‘being on the pitch’, supporting the Chief Executive in leading the drive for growth, change and transformation. Blockchain technology and the rise of Artificial Intelligence could revolutionise not only the automation of transactional processes but also the ability to transform corporate reporting, enabling transactions to be recorded and reported in real time.
But these changes will have a profound impact on not only the traditional career trajectory of finance professionals, but on the skills and expertise that the finance function will need to deploy, including talent with significant data and digital expertise. It’s no longer enough for Finance leaders to oversee a team that assimilates and reports information, but instead, they must develop the capability to identify, interpret and communicate the most valuable data, in the right language, at the right time.
The proliferation of data and analysis means little if the capacity to derive relevance from it is absent. With an accelerating shift in focus of today’s CFO away from control and governance towards the increasing use of analytics and business partnering, the CFO has an enhanced role in shaping the company’s future rather than reporting on the past.
In our latest CFO paper ‘Time to shift focus’, we explore the three main areas of influence where a CFO’s impact on a business is felt most.”
CFOs have stepped out from the confines of their role. Exploiting data and creating value, they can now serve as innovator and disruptor in their business.
Smart Performance, Communication Skills Yield Better Results for CFOsMyCFO Services
In recent years, CFOs have assumed increasingly complex, strategic roles focused on driving value creation across the business. Growing shareholder expectations and activism, more intense M&A, mounting regulatory scrutiny over corporate conduct and evolving expectations from the finance function have put CFOs in the middle of corporate decisions.
The Michael Page CFO & Financial Leadership Barometer is a unique study that independently analyses key trends in financial leadership across the world. It takes a timely look at issues such as the increasing complexity of the role of financial leader and the greater focus on value creation. It reveals the way in which financial leaders are moving towards being leaders of change, not just within their own function but in driving the organisation as a whole.
An investor's least favorite statement -- Oops Wrong CEO -- and You Need More...Leslie S. Pratch
While you own a company, you need the right people to execute and adjust the plans that will achieve your financial targets. When you go to sell, the team in place must be strong enough to convince buyers there's still substantial upside ahead. Managing human capital proactively and systematically can prevent problems and make your investments much more valuable.
Execution - The Discipline of getting things done GMR Group
This book was published in the year 2002 and I had read this book at that time. Revisited and read this book again just to evaluate the context. Even today the context of this book is very relevant.
Too many leaders fool themselves into thinking their companies are well run. They are like the parents in Garrison Keillor’s fictional Lake Wobegon, all of whom think their children are above average. Then the top performers at Lake Wobegon High school arrive at the University of Minnesota or Colgate or Princeton and find out they are average or even below average. Similarly , when corporate leaders start understanding how the GE’s and Emerson Electrics of this world are run- how superbly they get things done- they discover how far they have to go before they become World class in Execution.
Here is the fundamental problem: People think of execution as the tactical side of business, something leaders delegate while thy focus on the perceived “bigger” issues. This idea is completely wrong. Execution is not just tactics—it is a discipline and a system. It has to be built into a company’s strategy, its goals, and its culture. And the leader of the organization must be deeply engaged in it. He can delegate its substance.
We talk to many leaders who fall victim to the gap between promises they’ve made and results their organizations delivered. They frequently tell us they have a problem with accountability—people aren’t doing the things they’re supposed to do to implement a plan. They desperately want to make changes of some kind, but what do they need to change? They don’t know.
Execution is a specific set of behaviors and techniques that companies need to master in order to have competitive advantage.
Read this Summary ……
Similar to Cfo and ceo better together ima 2013 10-23 (20)
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Specific ServPoints should be tailored for restaurants in all food service segments. Your ServPoints should be the centerpiece of brand delivery training (guest service) and align with your brand position and marketing initiatives, especially in high-labor-cost conditions.
408-784-7371
Foodservice Consulting + Design
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
Senior Project and Engineering Leader Jim Smith.pdf
Cfo and ceo better together ima 2013 10-23
1. Partnership of CEO and CFO
Institute of Management Accountants
10/23/13Steve Little
1
2. Principal Consultant, Strategic
Solutions Group, InfoWorks, Inc.
30+ Years Experience (Ingram,
Andersen Consulting, Fleetguard)
CEO, Chairman, Executive Management
Consulting
Strategy
Business Analytics
Technology
Non-Profit Boards
Bible League International, Crete,
Illinois
World Bible Translation Center, Fort
Worth, Texas
10/23/13Steve Little 2
Professor at Lipscomb
University
Policy & Strategy
Principles of Management
Business Statistics &
Management Science
Research
The China Experience
4. Proverbs 31:10-31 (heavily paraphrased)
A CFO of noble character who can find? She is worth far more than
generous stock options.
Her CEO has full confidence in her and is always well informed. She
brings him good, not harm, throughout her tenure as CFO.
She develops a good staff and works with eager hands.
She is resourceful, providing for every company need and ensuring that
her staff is equipped to be successful.
She considers a company, with due diligence, and buys it; out of the
increased earnings she funds strategic initiatives.
She sets about her work vigorously; her spreadsheets, analyses, and
business acumen are more than sufficient for her tasks.
10/23/13Steve Little 4
5. She sees that her investments are profitable, and her cash flows do not
disappear when times are bad.
In her hand she holds the iPad and grasps the stylus with her fingers.
She opens her door to all who need counsel, she does not turn a deaf
ear.
When the economy stumbles, she has no fear for her company; for all
necessary preparations have been made.
Her CEO is respected by all stakeholders, including the
shareholders, where he takes his seat among the board directors.
She compiles the annual report, presents it to the shareholders, and
meets with Wall Street analysts quarterly, providing impeccable
guidance.
She is known for her integrity and skill; she is enthusiastic about the
days to come.
10/23/13Steve Little 5
6. She speaks with wisdom, and faithful instruction is on her tongue.
She watches over the affairs of the company and does not eat the
bread of idleness.
Her colleagues arise and call her blessed; her CEO also, and he
praises her: “Many CFOs do noble things, but you surpass them all.”
Fancy spreadsheets can be deceptive, and earnings management is
fleeting; but a CFO who knows, respects, and speaks the truth is to
be praised.
Honor her for all that her hands have done, and let her works bring
her praise throughout the company and at the annual Lipscomb-
sponsored Updating the Professional Accountant conference.
10/23/13Steve Little 6
7. The role of a chief financial officer (CFO) has been evolving
in business. No longer is the CFO only the senior finance
guy or gal. In many growing businesses, the CFO is the
partner of the CEO in helping lead the company to meet
business goals. The CFO may supervise departments --
such as human resources or information technology -- in
addition to handling the finances. The CFO may also help
steer a company through mergers and acquisitions or an
initial public offering.
~ Inc., February 16, 2010
10/23/13Steve Little 7
8. The biggest challenge that CFOs face in working with
their CEO…
Moving from tactical to strategic may be the biggest
challenge, since the CFO needs to act as the financial
headlights for an organization. The CFO must be part of
the leadership team, participate in value creation,
understand the organizational mindset, operations and
people management, and visualize what change may lie
ahead. CEOs look for a business partner, coach and
advisor in a CFO who provides a finance-driven
perspective in how a company can set and achieve its
goals.
~ Bates Communications
10/23/13Steve Little 8
9. You must be at ease with the aloneness being CEO requires.
You are the primary role model. You set the tone. You must be
the standard bearer of corporate culture.
You must possess exemplary personal values and habits.
You must possess a healthy ego and genuine humility. You
must put the success of the organization above your own.
You have primarily position, not personal power.
You must possess high emotional intelligence.
You must put a highly effective leadership team in place. You
are responsible for team performance. You are responsible for
everything else on your watch.
10/23/13Steve Little 9
10. 10/23/13Steve Little 10
You must serve, cultivate and answer to many
constituencies.
You must lead development of the mission and vision.
You must continue to learn.
You need an outside confidant. You need an outside
executive coach as situations arise.
You are responsible for successful execution by the
organization. You must personally execute everyday.
11. It’s bad execution. As simple as that: not getting things done, being
indecisive, not delivering on commitments.
Failure to put the right people in the right jobs…then waiting too
long to fix the people problems.
The motto of successful CEOs: People first, strategy second.
Execution is most important. Strategies quickly become public
property.
~ Ram Charan and Geoffrey Colvin, Fortune, June 21, 1999
How can a good CFO keep the CEO from failing?
10/23/13Steve Little 11
12. "Selecting a winning CFO is one of the most important
aspects of a CEO's job," says Amy Errett, a serial
entrepreneur who has hired several CFOs in her various
businesses. Errett is now a partner with Maveron, a
venture capital firm started by investment banker Dan
Levitan and Starbucks Corp. chairman Howard Schultz.
"A great CFO is an integral part of creating a world-class
management team that can make or break a business.
Finding exactly the right person is a difficult task and
requires a CEO's ability to understand the most
important skills you are looking for in recruiting this
critical job."
~ Inc., February 16, 2010
10/23/13Steve Little 12
13. Leadership skills. At the CFO level, these skills are paramount,
as this executive will lead teams and manage people.
Experience in specific industry. This may be important to your
business, although you may want to broaden these criteria to
include hiring someone in a similar industry.
Accounting skills. More and more CFOs are certified public
accountants (CPAs). One reason this qualification may be helpful
to your business is due to the changing regulatory environment,
both in the U.S. and the push for global accounting standards.
Communication and presentation skills. A CFO must have the
skills to deal with a board of directors or outside investors to
present complex information in a way that can be understood.
(Example)
Involvement in industry organizations. This is an important way
for a CFO to benchmark your business against best practices in
the industry.
~ Inc.
10/23/13Steve Little 13
14. What are the characteristics of the super CFO?
Deep understanding of the business
Knowledge of the high tech industry and market dynamics and
operational drivers of success
Strong analytic focus
Flexibility
Communication and team-building skills
Customer orientation
Appreciation for change management
~ CFO Enterprise, LLC
10/23/13Steve Little 14
15. Additionally, a solid CFO will have the skills and the experience to
manage several functional areas within an organization:
Finance and Accounting
Internal Controls
IT
HR Responsibilities
Legal
Customer Service
Banking Relationships
External Accountants and Attorneys
Special Analysis and Reports
~ CFO Enterprise, LLC
10/23/13Steve Little 15
16. What advice do you give CFOs who want to move into the CEO
role someday?
To move into a CEO role, the CFO must be operationally driven
and have leadership skills to drive change. CEOs are typically
outward and forward-looking folks with a clear vision of where
they want to lead their company, and a strategic CFO will be
similar in these leadership traits and bring a holistic viewpoint
to the future success of the business.
~ Bates Communications
10/23/13Steve Little 16
17. 1.Uncompromising integrity and ethical standards — A good CFO
must be honest, ethical and able to develop and maintain the trust
and confidence of all constituents. It's not in the job description, but
a good CFO knows he is the custodian of everyone's money. The
best CFO understands he owes allegiance to all constituents and
that sometimes his role is to deliver bad news to the CEO — even if
it means risking his job — because it will benefit the stakeholders.
2.Financial accounting, cash management and corporate finance
competence — A successful CFO must possess fundamental
accounting knowledge, cash management skills and the ability to
manage the financial function. A CFO need not be a CPA, but the
person absolutely must know how the numbers are generated and
be able to communicate effectively with managers, creditors,
shareholders and others.
~ 10 Qualities of an Effective CFO, Rating System Shows Who’s Up to the Job
by Marc Pfefferle (TMA International Headquarters)
Jun 1, 2003
10/23/13Steve Little 17
18. 3.Basic business knowledge and strong understanding of company
operations — To be effective, a CFO must understand business
fundamentals, a company's basic operations and its business model. A
CFO who merely reports numbers and has no interpretive ability
does not add value.
4.Strategic vision and leadership skills — The best CFOs can think
strategically, help create and execute business plans and demonstrate
strong leadership within the financial departments and with the
management team as a whole. The CFO can't just be a "numbers
guy"; he's got to be a negotiator. CFOs who stay in their offices all
day, demonstrate no executive presence, hoard information or are
arrogant or condescending are generally ineffective.
10/23/13Steve Little 18
19. 5.Problem-solving abilities — A CFO's knowledge of the company, its
resources and the numbers is critical in formulating a plan to secure
a company's future. Good CFOs look for "win-win" situations, rather
than trying to get a "good deal."
6.Communication skills — A CFO must be able to communicate the
financial performance and resources of the company to all key
constituents orally and in writing. A good CFO will give you the
answers before you ask the questions; a bad CFO will make you feel
that if you hadn't asked, you would never have found out.
7.Strong work ethic — A CFO must be willing to work long hours when
necessary, processing a tremendous amount of work product while
paying extreme attention to detail. A CFO who only works eight-hour
days will not accomplish the objectives.
10/23/13Steve Little 19
20. 8.Self-confidence and willingness to take a stand — To gain and keep
the trust of all constituents, including the company's employees, the
CFO must be self-confident without being arrogant. That means the
ability to transmit appropriate messages to appropriate audiences, a
willingness to admit mistakes and the ability to offer input without
insisting on being right.
9.Results-oriented mindset — A company needs a CFO who is
committed to results first. The CFO who elevates process above all
impairs his ability to see problems, which is a problem in itself —
especially in times when the company's procedures are likely part of
what got it into trouble in the first place.
10.Reliability — A CFO who works reliably under pressure to produce
timely, accurate information and is willing to do whatever is
necessary to bring about results is invaluable. The right CFO not only
wants change, but also can help set the ball in motion.
10/23/13Steve Little 20
21. Close to perfect financial reporting
Expert advice on accounting and financial matters
No mistakes or surprises
Quick, right answers (and more critical…right questions)
Honest-based loyalty, and ability to carry forward the
CEO/Company flag
Internal and External eyes and ears for CEO
Highly communicative, coupled with brutally honest
counsel/conscience for the CEO
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22. Make sure the C-Staff knows and respects the significance of
the role of the CFO
Don’t let any C-Staff member make any plans or decisions
which have financial implications without the involvement and
sign-off of the CFO
CFO needs to be used by CEO as a sounding board
Don’t treat the CFO as a “numbers guy” (and definitely no
bean-counter jokes)
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23. Frequent surprises are a deal-breaker
Character issues
Bad advice and bad answers are a deal-breaker
Fudging “bad” numbers – yield not to temptation, or be terminated
Disloyalty/violating the CEO’s trust, confidence and confidentiality
Disloyalty/violating the CFO’s trust, confidence and confidentiality
Forgetting that the gap between #1 and #2 is significant
Failure to enunciate and model CEO rule for all C-Staffers: No “ex
parte’” decisions – that is, all situation-relevant C-Staff stakeholders
must be involved in any decision-making that affects their respective
areas – this could mean the CEO and CFO + 1, or all C-Staffers en
masse
10/23/13Steve Little 23
25. L
Within the letter and intent of the laws of the land (from tax
laws to the Foreign Corrupt Practices Act)
Within guidelines and regulations (GAAP, IFRS, SEC, etc.)
Consistent, fair application of company policies
Honored contracts
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26. E
Fair
Consistent with behaviors expected/desired of employees,
customers, suppliers, communities, and other stakeholders
The Golden Rule (Not the one that says, “he who has the gold,
rules.” It’s the other one)
Example for discussion
Should companies pay a living wage?
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27. Living wage (principle of need)
Equitable wage (principle of contribution)
Sustainable wage (principle of economic order)
Just Wage vs. Minimum Wage
10/23/13Steve Little 27
28. A
Given the company’s resources, can we deliver what is
promised?
Funding
The right people (skillsets and availability)
Access to needed technology
The right plan, methodology, or approach
Appropriate expertise
Needed level of organizational and individual
commitment/motivation
10/23/13Steve Little 28
29. R
Can we survive/thrive even if the initiative fails?
Can we survive/thrive without the initiative?
Do we understand the risks?
Did Netflix understand the risk when they changed their
pricing structure?
Did RIM understand the risk of not aggressively innovating?
Did they understand the risk of a significant outage in
service?
Often, the most critical initiatives are those involving
significant innovation…where it is difficult to identify and
assess risks…
What can the CFO do when risks cannot be well
defined? 10/23/13Steve Little 29
30. N
Will this initiative enhance NPV?
Resources are limited. Compared to other opportunities, does
this imitative provide a favorable risk-adjusted NPV?
10/23/13Steve Little 30
32. 10/23/13Steve Little 32
"There is a profound difference between management and leadership,
and both are important. To manage means to bring about, to
accomplish, to have charge of or responsibility for, to conduct. Leading
is influencing, guiding in a direction, course, action, opinion. The
distinction is crucial."
And in one of his most famous lines, he added,
"Managers are people who do things right and leaders are people
who do the right thing."
~ Warren Bennis
33. 10/23/13Steve Little 33
Leaders use their hearts to lead
and
Managers us their heads to manage
Think in terms of: Leaders = Change
Managers = Stability
Together = Controlled Change
Vision without action is a daydream.
Action without vision is a nightmare.
~Japanese Proverb