CFO How To Go Up In The Workplace

Today's CFO should not only manage the pocketbook of enterprises, but also make strategies for the strategy of enterprises. Usually, the strategy of an enterprise depends on the top management team of the enterprise. CFO is also an important member of the team. We can expect that this trend will continue into the future.

In the future, the role of CFO in the determination of enterprise strategy will be further strengthened. The future business environment is more complex, which requires more CFO and financial functions. Professional analytical skills 。

Finally, the implementation of enterprise strategy. In the future, more attention will be paid to the development of more efficient. operation flow Tools and methods, such as scorecard, key performance indicators, external market index, etc., to support the operation of enterprises and measure the effectiveness of business operations.

　　 CFO It plays an important role in the formulation, validation and implementation of enterprise strategy. This brings another important problem: the linkage between enterprise strategy and financial and risk management (such as budgeting, forecasting, risk management, etc.) is strengthened. Usually, the financial and budgetary making process of an enterprise often does not relate to the current situation or disjoins, and the time making is always wrong: the passive relationship is more than the active relationship.

In the future, CFO must also push ahead with enterprise reform, and integrate the financial functions of enterprises with the strategy of enterprises more efficiently. Here is a broader sense of the integration of financial functions. At the round table conference, many CFO mentioned a key problem: enterprises often focus too much on short-term cost cutting (such as layoffs), which damages long-term strategic planning and wastes much time in activities that are not conducive to improving the long-term strategic efficiency of enterprises. This means that the new balance adjustment must be carried out.

Only economic sustainability can not guarantee the overall sustainable development of enterprises. Recently, as announced in the enterprise strategy, as mentioned in the past, enterprises in addition to financial profits, but also take up corporate social responsibility and environmental responsibilities. This transformation of enterprise consciousness is brought about by the continuous social consciousness and the corresponding public policy incentives. So sustainability is an important part of enterprise strategy.

This has a great impact on the company's decision-making and performance measurement. This change brings the so-called "three bottom line" report, in addition to the financial profitability of enterprises, but also includes the social and environmental performance of enterprises. This poses a great challenge to today's CFO. Many of them doubt whether enterprises can achieve the "three bottom line" requirement in reality. But it is undeniable that the comprehensive report is paying more and more attention to integrating financial and non-financial information.

Nowadays, corporate social responsibility is becoming more and more important, which brings additional challenges to the CFO of enterprises. Enterprises are making efforts in the direction of comprehensive and reporting, trying to incorporate the performance of enterprises in social and environmental aspects. This requires the design and use of new reporting systems and the use of more intangible non-financial indicators.

The bigger problem is that companies often clash with each other in pursuit of environmental, social and business goals. Therefore, CFO must carefully assess the balance between these objectives. So, CFO of enterprises and enterprises sometimes treat corporate social responsibility without saying anything? Especially when the economic situation is grim, business growth and profitability are the top priority.

This raises questions about how to balance short-term goals and long-term goals. Future CFO must handle this relationship with great care and be prepared to challenge difficult decisions that do not meet the long-term interests of the enterprise.