Leading a spin-off can be like running a new company. While the operations end may seem as simple as breaking off a division, the C-suite must often create an entirely new brand and face mountains of legal work.
Innovation thought leaders and industry experts emphatically harp that if you want to stay afloat (and ultimately thrive) in today’s hyper-competitive business environment, innovation is not optional—it’s absolutely imperative for survival and success. Your customers demand it; and if you can’t innovate, your competitors will consistently outflank and outperform you.
While markets reacted to China’s recent decision to devalue its currency, and as stocks swooned, the Chinese government announced that the nation’s pension funds had been approved to invest in stocks for the first time in history. Such milestones—along with plummeting oil prices and fiscal woes in emerging markets—add layers of complexity to the issues faced by plan sponsors. Now more than ever, it is time for CEOs to have strategic discussions with their CFOs about pension risk management and what steps they should take, not only in the face of market upheaval, but also in light of some new data that adds further dimension.
Thanks to more stringent monitoring and regulation of corporate financial statements, there’s been a dramatic rise in the number of American companies adding a “chief accounting officer” to the C-suite. The purpose of the CAO is to assist the CFO in all aspects of accounting and regulatory compliance.
Remaining competitive means you are likely relying on your CFO more and more to help set the vision for your organization. Today, if a business is standing still, it’s falling behind. With that in mind, here are seven things you should be looking to your CFO to perform to keep business moving forward.
As your head count grows, so do payroll hassles. Many companies look to outside vendors to handle payroll responsibilities when it becomes too much to handle in-house. Morey Stettner provides guidance on when and where to outsource.