“One-size-fits-all” really only works…when it “fits”. Tailoring is required when buying a suit or developing your business controls. Right-sizing your controls will protect your organization.
Developing control activities for your business is no different. If they aren’t right-sized, you will be too vulnerable or too restricted to successfully grow your business.
Saleem describes the six mindsets he believes are most useful for corporate success in this 7 minute video.
At the beginning of the year, we covered the creation of a Business Continuity Plan which prevents most issues from becoming disasters. But what if a disaster exceeds your capacity for immediate remediation? That is when your Disaster Recovery Plan is invaluable – to ensure that an interruption does not threaten the survival of your business. As the CFO, you are in charge of protecting corporate assets and sustaining the earnings stream they generate. Having the components listed below as part of your Disaster Recovery Plan is not only your job, it will help you sleep better at night.
Change is hard. It is often the harbinger of stress, confusion, aimlessness, and at its worst – anarchy amongst employees. Change can also be a life-giver, a refresh button, a savior to a dying organization, and the only way back to success or even functionality. The outcomes of organizational transitions or changes are completely saddled with the management of those transitions (and yes, also the type of transition that’s happening).
Finance leaders are in a challenging position when it comes to where we are headed. The transformation finance is going through can follow many paths. How are you determining where you and your team want to go?
