Creating self-awareness is fundamental for a successful leadership journey. Many people, however, struggle to understand this idea. Here is a simple framework that may help.
You can assess people along two simple criteria; what they know and what they do. Let’s call what they know their awareness or consciousness and what they do their competency level.
So now paint me a better picture, because I’m not sure I understand exactly how CFO.University works. How do you get involved with CFO.University?
A couple years ago I listened to a presentation by speaker and author Professor Robert Wolcott of Kellogg when I attended the Digital Manufacturing Conference for the Massachusetts Institute of Technology Leaders for Global Operations. One key question Professor Wolcott asked resonated with me, “What will happen to our business when people stop buying whatever it is we are selling?” That question made me consider how companies can maintain an entrepreneurs sense of urgency and avoid resting on their laurels? How can we prevent what happened to Blockbuster, Pan Am, and Kodak, from happening to us?
Finance transformation is critical if you want to keep up with the evolving ideas and strategies of today’s business landscape. It will revolutionise processes and systems within organisations to make them more effective, and more profitable. Cloud solutions and Software as a Service (SaaS) is one key area offering transformative results.
Barings Bank rogue trader (1995), LTCM hedge fund failure (1998), Enron bankruptcy (2001), Parmalat accounting fraud (2003), AIG accounting scandal (2005), Lehman Brothers bankruptcy(2008), Bernie Madoff ponzi scheme (2008), Toyota unintended acceleration recalls (2009) , BP Deepwater Horizon oil spill (2010), Fukushima tsunami and nuclear accident (2011), Libor-fixing scandal (2012), JP Morgan $14.6 billion regulatory fines (2013), Rana Plaza collapse (2013), General Motors recalls (2014), Wells Fargo mortgage fees (2017) and Boeing 737 Max crashes (2018 and 2019) are a few examples of risk management failures we have witnessed over the years.
