Leadership of Cfo
Chapter 1
THE PROBLEM AND ITS BACKGROUND
Introduction
“Leadership is unlocking people's potential to become better” (Bill Bradley). Leaders only influence and inspire, not manipulate because manipulation leads to discouragement and abuse to those who are under him. An institution will not run effectively without observing proper leadership styles especially when it comes to financial matters.
Almost all organizations have their Chief Finance Officer (CFO). A CFO is an officer who is responsible in managing the financial risks of the entire institution. A CFO plays a leadership role in business development initiatives and their management. CEOs will not have excellent decisions without considering the advices and opinions of the Chief Finance Officers that would contribute to the success of the company. CFOs are really dedicated into managing the day to day cash flow of the company. In order to manage cash for troubled companies, CFOs prioritizes what needs to be paid. Forecasting cash needs using a 4 to 6 week model works well and helps the Chief Financial Officer identify what needs to be paid and can manage the cash accordingly (Michael Barbarita). Although the usual focus of the CFOs are accounting and reporting roles, they must somehow become a leading strategic force within their organization, influencing key stakeholders and executing on the company strategy. This study aims to discover the different leadership styles used by the Chief Finance Officer of both sectarian and non-sectarian institutions. On how well they govern among their subordinates as well as in the whole organization. To also find out the significant difference between the leadership styles of the Chief Finance Officers of various institutions within the University Belt Consortium.
Background of the Study “Leadership is one of the major factors—sometimes it seems the only factor—that will determine whether an educational organization, be it a school, a college or
THE PROBLEM AND ITS BACKGROUND
Introduction
“Leadership is unlocking people's potential to become better” (Bill Bradley). Leaders only influence and inspire, not manipulate because manipulation leads to discouragement and abuse to those who are under him. An institution will not run effectively without observing proper leadership styles especially when it comes to financial matters.
Almost all organizations have their Chief Finance Officer (CFO). A CFO is an officer who is responsible in managing the financial risks of the entire institution. A CFO plays a leadership role in business development initiatives and their management. CEOs will not have excellent decisions without considering the advices and opinions of the Chief Finance Officers that would contribute to the success of the company. CFOs are really dedicated into managing the day to day cash flow of the company. In order to manage cash for troubled companies, CFOs prioritizes what needs to be paid. Forecasting cash needs using a 4 to 6 week model works well and helps the Chief Financial Officer identify what needs to be paid and can manage the cash accordingly (Michael Barbarita). Although the usual focus of the CFOs are accounting and reporting roles, they must somehow become a leading strategic force within their organization, influencing key stakeholders and executing on the company strategy. This study aims to discover the different leadership styles used by the Chief Finance Officer of both sectarian and non-sectarian institutions. On how well they govern among their subordinates as well as in the whole organization. To also find out the significant difference between the leadership styles of the Chief Finance Officers of various institutions within the University Belt Consortium.
Background of the Study “Leadership is one of the major factors—sometimes it seems the only factor—that will determine whether an educational organization, be it a school, a college or