Getting the Most out of Your Finance Function

Getting the Most out of Your Finance Function the leadership challenge Brendan Mc. Carron CIPFA CFO Leadership Academy

cipfa. org Leadership – a knowing doing gap?

cipfa. org The Mindset List for the Class of 2017 1. Eminem and LL Cool J could show up at parents’ weekend. 2. They are the sharing generation, having shown tendencies to share everything, including possessions, no matter how personal. 3. GM means food that is Genetically Modified. 4. As they started to crawl, so did the news across the bottom of the television screen. 5. “Dude” has never had a negative tone. 6. As their parents held them as infants, they may have wondered whether it was the baby or Windows 95 that had them more excited. 7. As kids they may well have seen Chicken Run but probably never got chicken pox. 8. Having a chat has seldom involved talking. 9. Gaga has never been baby talk. 10. They could always get rid of their outdated toys on e. Bay. Beloit College www. beloit. edu

cipfa. org A future of bigger change? § Aggregation of solutions increasing complexity and opportunity § Speed of change in demands and supply side § More and more informed/active customer/ stakeholder interactions Black Swan Waterworks Belfast 2012

cipfa. org Implications for organisations?

cipfa. org Getting the most out of your finance function - The $64, 000 question § How does the finance function add value? § If you are a CFO, the question becomes, how do you add value? § Not just a “rational” issue, but must be clearly linked to the outcome goals of the organisation § (Key) Stakeholder perception – how do they, however irrationally, judge your value?

cipfa. org Leaders and characters who will get the most from finance § It’s the message not just the media § Feedback and development are recognition and reward § Looking and listening for the non-consensus

cipfa. org Communicating ideas

cipfa. org Frederick’s CRT 1. A bat and a ball cost £ 1. 10 in total. The bat costs £ 1. 00 more than the ball. _____ p How much does the ball cost? 2. If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? _____ min 3. In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? _____ day 9

cipfa. org Not being limited by what you can control Control Influence Accept C I A § 'Learning is not just something you do in school and when you are formally studying. Learning, as this programme will show you, is something which we need to do every day to keep up with our ever changing world. ' § Rowann Limond - Director of Resources, Homes for Haringey