Key concerns for CFOs
Following the recent roundtable on strategy execution, Rick Payne takes a look at the key concerns for CFOs.
Strategy execution presents a significant challenge for business. So we brought together CFOs from a range of industries and different sized organisations at Chartered Accountants’ Hall to provide some insights on the topic.
The group agreed there were a number of underlying challenges to maintaining a robust strategy in the face of continuous change, with particular areas of importance highlighted as follows:
- changes in regulation, competition and technology;
- dealing with oversupply when new competitors abound – they undercut you then do not deliver;
- ensuring people understand the strategy, are motivated by it and can connect what they do to it;
- keeping the organisation focused and targeting resources appropriately, particularly when there is so much an organisation could be doing;
- changing the culture to align with a new strategy, particularly when the current culture has delivered success; and
- accessing the necessary skills and resources.
The discussion prompted a number of ideas around ways to solve these issues.
This is an extract from the Business & Management Magazine, Issue 276, July/August 2019.
Find out more
Full article is available to Business and Management Faculty members and subscribers of Faculties Online.