THE PROBLEM AND ITS BACKGROUND
“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 a university, will succeed or fail”. Simkins (2005:9)
This study is about the leadership styles of Chief Finance Officer (CFO) of sectarian and non sectarian universities in the university belt consortium. The following universities are the chosen subjects or respondents of the researchers: Arellano University is a private, nonsectarian university located in Manila, Philippines, established in 1938 by Florentino Cayco, Sr. as the Arellano Law College which was later known as Arellano Colleges. Centro Escolar University is a private, non-sectarian higher education institution, with an enrolment of over 20,000 students in its three campuses: Manila, Makati and Malolos. La Consolacion College Manila is a private Catholic institution in the university belt in front of College of the Holy Spirit and beside Centro Escolar University. It was founded in 1902 when the Papal Nuncio offered ten Filipino Augustinian Sisters a house near the Basilica of San Sebastian.. San Sebastian College – Recoletos, Manila, is a Catholic Institution of higher learning, duly recognized by the Philippine Government. One of the seven “Recollect” schools in the Philippines, it is owned and operated by the Augustinian Recollect Fathers. University of Santo Tomas in Philippines or the Pontifical and Royal University of Santo Tomas, The Catholic University of the Philippines is known as one of the most populous Catholic universities in the world. A private Roman Catholic university by the Order of Preachers in Manila, University of Santo Tomas started functioning from April 28, 1611. University of the East- Manila as a private non-sectarian institution of higher learning, commits itself to producing, through relevant and affordable quality education, morally upright and competent leaders in various professions, imbued with a strong sense of service to their fellowmen and their country. There are many leadership styles that can be applied to institutions or organizations, whether sectarian...