One of the first steps necessary by the CFO is to assess the financial well-being of the organization – which areas are doing well and which areas require intervention. Oftentimes, the first place to seek understanding of the financial well-being of the organization is to examine the organization’s financial statements.
Expectations associated with many C-level executives are related to their functional responsibilities. For example, the Chief Information Officer (CIO) has direct authority and responsibility over the informational needs of the organization. Similar to the CIO, the Chief Technical Officer (CTO) oversees the technical aspects of the organization while the Chief Marketing Officer provides leadership regarding marketing efforts and the results that those efforts have in promoting the organization’s outputs – all having both authority and responsibility. However, the expectations associated with the Chief Financial Officer (CFO) may not all be directly associated with their functional responsibilities – in some areas, they may have responsibility but little, if any, authority.
In this article Mark Stiving teaches how simple pricing is better, how to price to maximize the Customer Lifetime Value, which refers to how much value (or revenue) we could earn from a customer over their time with us as a customer.
Dave tries to bait Steve into calling out one Pillar of CFO Success over the others. Steve doesn’t take the bait and explains why in this short clip from their interview on Behind The Numbers.
It may have started with Malcolm Gladwell’s Blink as the first significant address of the topic, but examples and discussions of bias are all over social and traditional media. In Daniel Kahneman’s Thinking Fast and Slow he examines two systems in how we think:
