Seven Habits Of Successful financial leaders
June 5th, 2009
All Chief Financial Officers of top companies exhibit most of these habits:
1. Take a seat at the strategy table. The CFO should be involved in strategy as an independent arbiter, providing “staff” advice on strategic options.
2. Define and manage earnings expectations for brands within a company.
3. Manage the portfolio. Brands make up a portfolio and under-performing brands should not be axed before the impact on all of them is known.
4. Help set up and maintain a customer centric growth culture. Keep in contact with customers so you understand what creates value for them.
5. Don’t be afraid to prune. Set specific return measures and standards with timelines. If a business segment fails to meet a target, stop investment in it.
6. Fertilise in winter. Business cycles are endemic. This may be the time to keep investing in long-term growth projects.
7. Know when to buy and when to build. Whether the strategy is, buy or grow organically, the CFO acts as an independent arbiter of both strategies.
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