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The CFO candidate might get by with only a broad sector experience in manufacturing, finance, or technology. From experience keeping an eye on a candidate’s knowledge of how a specific businessmodel works are essential and non-negotiable.
These changes have necessitated new capabilities and forced even the most established players to make radical departures from their businessmodels. As one anonymous Fortune 500 CEO shared: My CFO started well. Take, for instance, the automotive industry.
The C-Suite Executives Role in Business Strategy The C-Suite executive team comprises the Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (COO), and other high-ranking ‘chief’ executives.
An enterprise businessmodel was developed that takes in all the processes across all the business areas. Processes are categorized by a Business Cycle (end to end business process) which are “owned&# by a majority of non-financial senior leaders. The CFO owns a couple.
When I met James as well as the company’s CEO and CFO over Zoom, I told them that we should admit that COVID-19 seriously interrupted our world and will not disappear anytime soon. Even those who had desk jobs struggled with working from their homes due to the total absence of preparation for a remote setup. Guiding Back to Efficiency.
Twelve cases are written as narratives with multiple teaching points, but without a focus on a particular business decision; the remaining twenty-three cases were written around specific conundrums related to strategy, operations, finance, marketing, leadership, culture, human resources, organizational design, businessmodel, and growth.
A large division of this company had recognized the need to dramatically change its businessmodel to survive and succeed in a changing market. The division head launched a major business reengineering effort, hired a leading consulting firm (and paid it millions), and dedicated his best people to the effort. What happened?
Eventually her team ended up with a portfolio of investments that caught the attention of the CFO and CEO because some were bringing new technologies into the company’s supply chain, and others were hinting at new businessmodels for engaging with customers.
Success was measured quantitatively by the firm’s performance (profit and growth) vs. that of its competitors, and also qualitatively by interviews with senior executives who were involved, but not deeply invested, in the efforts (typically the CFO). What should a CEO do? Anticipate the reaction.
As Steve Blank, Clay Christensen, and many others have pointed out, once firms reach a certain size, most of their resources (and investment dollars) are rightly devoted to executing and defending their existing businessmodel. This triggered a great deal of interest, and a steady flow of applications.
The phenomenon of fast-track CEO succession appears to be most prominent in the retail, technology, media, and telecommunications sectors—all of which are particularly affected by disruptive businessmodels and new competitors. Some recent CEO appointments in these industries include Yahoo!’s
There are instances when it might be perfectly legitimate and value enhancing to issue earnings guidance in an effort to inform the market about material disruptions, shifts in the businessmodel etc., but on the whole, the practice is not a helpful way of building a sustainable business that is geared to succeed in the long-term.
CFOs of these companies themselves admit that they cannot justify their market capitalizations based on traditional metrics. One CFO said that her valuation should be considered on a per idea basis instead of a per earnings multiple. Corporate venturing is becoming more important.
A recent Washington Post investigation titled “The big problem for Uber now: Attracting talent” detailed the roots of this problem throughout the company and at the top, where 13 of the top 20 management positions remain empty, including the positions of COO and CFO.
How about this, the boardroom version of Sophie''s Choice: "Who would you rather fire, the CFO or the CSO?". The silence is part of the hacker businessmodel. A question that could tell you a lot about the company''s potential under this leader. You''ve fired the CEO, but your 10 minutes as chairman are winding down.
The best CEOs are excellent at growing and running a company within a known businessmodel. The Chief Entrepreneur will be responsible for managing a portfolio of entrepreneurs who experiment with new businessmodels and value propositions. You do not work for the CEO, or alongside the CTO, CIO, and CFO.
Our research shows that companies with platform- and network-based businessmodels are exponentially better at creating value. Building a successful platform business is hard enough when you have an original idea, ample capital, no core business to cannibalize, and a team of top talent. Companies are right to be worried.
The new game is to think about the businessmodel and strategy for not just the company but the entire ecosystem. ” Immelt elevated marketing and digital media when he promoted Beth Comstock to vice chair, while other positions, including that of the CFO, are at the senior vice president level. Cut layers.
The businessmodel centers on the old razor blade strategy: Sell the machine at just above cost and make high margins on the system’s consumable element – patented plastic pods. Densmor, Terranola’s CFO, saw those words on Twitter about one minute after Hughes had uttered them. As CFO, A.J. Confident words.
Listening, Derek Melis, his friend and CFO, was relieved. Please don’t let that cloud your judgment as CFO. ” “As the CFO, I can’t lose sight of what’s going on in each country.” Rogier Maes, the CEO of Contect, wrapped up his year-beginning speech to all the company’s employees.
Start by talking openly about the journey and the inherent sense of vulnerability executives are bound to feel as the businessmodel changes. Many CEOs underestimate the impact of mental models in the innovation process, often assuming that “thinking outside the box” exercises address the issue.
Your businessmodel is still in flux, and flexibility is more valuable than efficiency and cost savings. Sophisticated models around churn prediction start looking very tempting. Scaling up comes with CFO and board pressure to gain efficiency, and the natural tendency of a business will be to squeeze customer teams.
Lotta Tindal, the chief marketing officer for the Dutch hospitality group Ervaring Hotels & Resorts, hadn’t wanted to come to the presentation, but Gerard Bakker, Ervaring’s CFO, had twisted her arm. It also has big brands behind it, but the businessmodel makes more sense to me. “This seems different.
Like any firm in need of business development, we build relationships with executives across the company, and pitch proposals. the CEO’s or CFO’s), but rather serve the needs of our internal project sponsors (usually at the CXO, EVP, and SVP level). We call everybody within the company a “client.”
Leaders must have the vision and forward-focus to anticipate how technology could disrupt the businessmodel and the skill to mobilize the organization for change and drive a culture of collaboration. Voser took a detour to be CFO for ABB from 2002 to 2004 and then returned to Shell to become CEO in 2009.
In fact, only eight percent of companies’ CEOs believe that their businessmodel will remain economically viable if their industry continues to digitize at its current course and speed. And let me explain to you what I mean. Companies have spent enormous energy responding to the existential threat of new entrants.
Lead author of BusinessModel Generation and Value Proposition Design , which sold over one million copies in 37 languages. Facebook’s first HR hire, she has led global people programs, been an HR Business Partner, and CFO. Alex Osterwalder – Co-founder Strategyzer. Authority on new technology and communication.
” Andrew Lowell, Lumiscape’s CFO, had thought it was a mistake to move exclusively to contracts. He had argued that the engineering team should be held responsible for making a product that customers could use correctly and that Cameron should push the engineers harder before changing the model. . Cameron sighed.
Besides, this is what our businessmodel is based on. I know I say this all the time, but just because that’s been our model up to this point doesn’t mean it has to be going forward,” she said. “I Later that day Guy Renou, BrainGame’s CFO, sat down in Lena’s office. Last I checked, movements didn’t have a CEO or CFO.”.
But massive disruptions in businessmodels, technology, and the work force have been throwing up massive new challenges for CIOs and other technology leaders. As a member of executive management, a CIO can serve as both a utility and a strategic adviser to the business.
These are things that affect our businessmodel. Camilla asked, referring to Natural Foods’ CFO. “He How would you feel not having a voice in the debate on the definition of “organic,” or in the conversation on import tariffs for the specialty products our customers demand? Harold shook his head. What does Nick say?”
Later that afternoon Annabel Howard, Beacon''s CFO and Henry''s boss, leaned back in her chair. "I''m Starr was a straight-up rental car company, same businessmodel as ours. The basic businessmodel hadn''t changed in 30 years, and Beacon, like all the other major players, was forced to compete on price alone.
This oft-heard defense of buybacks is clearly hollow: Once a CEO or CFO makes this claim, the company cannot sell the stock at a higher price for the benefit of the corporate treasury without signaling to traders that the stock is now over valued, something that no top executive would want to do. ’ ” The losers.
As the CFO of Macy’s put it recently, “ “We’re frankly scratching our heads.” It’s standing in the path of what Schumpeter called a gale of creative destruction. That storm has been brewing for some time, and as it has reached gale force, most large retailers are searching for a response.
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