'Investing in the right talent critical to driving growth'.
| Author | Tilley, Charles |
| Position | CIMA CEO column |
Research launched on 31 January to mark the launch of the Chartered Global Management Accountant (CGMA) designation shows with great clarity why global business has never had such an urgent need for CIMA members and students.
[ILLUSTRATION OMITTED]
We all see and recognise that the world's economy is going through a dramatic period of change, both economically and environmentally. Douglas Flint, chairman of HSBC, hit the nail on the head when he declared in our report "Rebooting Business: Valuing the Human Dimension": "I don't think we've ever been in a period, in our lifetimes at least, where things have been more uncertain."
So what are the current challenges faced by global business leaders? Key trends captured in our CGMA survey of nearly 300 global CEOs show that investor demands have led to a short-term culture and fixation on the financials. Respondents feel there is an urgent need to start considering the full value of their organisation. This means they need the right people to measure and grow that value.
The main theme running through the research is the absolute need for the breed of financial professional who is able to offer a multidisciplinary approach, combined with a much broader perspective. Businesses are facing increased levels of complexity and the current environment means there is much less room for error. This means that the focus on the quality of the decisions taken by companies and all organisations is paramount and must be driven by the right people. CEOs are adamant that they need help in "connecting the dots" to give a clear picture of how the organisation is running and where the opportunities are. This all points back to the core strengths of the management accountant.
Another key element covered by our joint research with the American Institute of CPAs is that of transparency. CEOs are aware that being transparent offers a competitive advantage, but find it difficult to draw the line between being open and handing valuable information to competitors. Being transparent is a priority going forward, and skilled professionals who understand how organisations can act transparently and ethically are needed to harness the potential value.
What is the most critical...
To continue reading
Request your trialCOPYRIGHT GALE, Cengage Learning. All rights reserved.
