MANAGEMENT is efficiency in climbing the ladder of success; LEADERSHIP determines whether the ladder is leaning against the right wall - Stephen Covey

Monday, August 07, 2006

CFOs get back to strategy?

I recently read a survey of FTSE500 companies commissioned by Cartesis (a business performance software specialist) which mentioned that nearly 45% of CFOs see strategic planning as their top-priority now, while approx 52% believe that it will become their main concern in the next 3 years or so. I was shocked to note that a mere 10% (even lesser) said that complying with relevant regulations was a top-priority! Holy smokes! Are CFOs turning complacent or too tired of box-ticking??? Anyway, from the survey, I can understand that there is a clear shift in priorities for today’s CFO when compared to previous years (when compliance was cool!)…looks like not any longer. It was also interesting to note that ‘part of the strategic focus is being directed at the efficient operation of the finance function’ – in Allen Blewitt’s (ACCA CEO) own words.

Well, to me, I feel that todays' CFOs would need to have a much more broader and deeper understanding of business environment encompassing a wide range of issues and concerns prevalant in todays’ hyper-competitive corporate scenario. A mere bean-counting approach to problem-solving wouldn’t suffice.


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