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LEARNING RESOURCE

Question assumptions
It is always good to question long-held
assumptions and legacy business logic. The Strategic Ecosystem
For example, “Is it really viable to do this
activity in-house instead of outsourcing Designed for the busy finance leader, this course provides you with
it?” guidance to determine the strategic vision of your organisation,
monitor changes in the general business environment, and identify
Learn from colleagues the impact on your industry and organisation.
Engage with colleagues to learn how they
do what they do, their best practice, their Find this course in the AICPA Store and in the CGMA Store.
mistakes, and lessons learned. Discuss COURSE
how a particular development could
impact your business or customers.
A mistake some eager finance
executives make is assuming that the onus
of strategic thinking lies entirely on them. it in a language that makes sense to key perspective?” You’ll thus learn how the
That is not true. Engage your team and stakeholders, including investors, thus proposed strategy connects with and
colleagues in the process to bring in ensuring their support for the strategy. impacts the stakeholders. You also need to
diverse ideas and thoughts. Here’s how to do this: put in the work to get alignment
Seek opportunities to participate in beforehand so that at the big meeting, you
strategy meetings with management, and Inspire confidence in key stakeholders come across as having thought things
then get involved in target-setting to see Communicating effectively is certainly not through.
both the big picture and the details. about using fancy jargon to sound smart;
Ultimately, the best way to learn it’s about inspiring confidence in key Get involved with strategy drafting
something is by doing it. Be bold and have stakeholders that you can think broader, Depending on whether your role allows it,
foresight into how things would likely turn bolder, and longer term. To do this, directly offer to participate in the discussions and in
out if a certain choice is made. Develop link challenges and opportunities drafting the organisation’s strategy and, as
your modelling abilities to do scenario discussed to the strategic goals and use needed, its revision from time to time. As
analysis and predict multiple outcomes, language that demonstrates and links how you articulate an idea or recommendation,
strive for clarity on assumptions, and the recommended action will affect the clearly express how this might have a
deliver your recommendation. longer-term picture. connection to “winning with our
customers”, “improving employee
Take breaks Prioritise and sequence your thoughts engagement”, or where the organisation
It’s impossible to find time to think about and messages “should play” and how the organisation
the big picture when you’re constantly Prioritising and organising your thoughts will win.
task-switching or if your day is packed help the audience focus on the core
with meetings. Strategic thinking skills message. While making a business case to Strive for clarity in your presentations
generally flourish during downtime, when senior stakeholders, practise giving the Clarity in your presentations fosters
the brain has a chance to decompress, answer first instead of building up to your communication and alignment. Two-way
wander, and envisage different (from main point. communication also involves listening to
usual) outcomes. So, take short breaks and reading the reactions of your partners.
during the workday, and yes, have holidays Rely on numbers and data
from time to time to recharge. Don’t rely on how you “feel” or what you Building a competitive advantage
“think” — instead back up your Making the effort today to steep yourself in
3. Communicate effectively to observations and recommendations with strategic thinking is a competitive
influence and get buy-in for your numbers and data. advantage that can pay major dividends for
proposals you, your team, and your organisation. n
Many finance executives need to improve Speak up in meetings
their communication skills. When you Don’t hesitate to ask questions and seek
have the opportunity to attend a business clarifications, and be willing to offer your Raju Venkataraman, FCMA, CGMA, is a
meeting with senior management, be opinion, albeit respectfully. For instance, if corporate trainer and credentialed
prepared to talk about what is important to you believe that a changed business leadership and career coach (PCC)
them. From time to time, take a step back circumstance means that existing strategy based in Singapore, serving clients
and ask yourself: Why is this important to needs to be re-evaluated, do not hesitate to worldwide. He is a former CFO and
the company? Why should your raise the matter for discussion. head of strategy of The Walt Disney
stakeholders care about this? Discuss your Company South East Asia. To comment
work through that lens. Seek buy-in for a strategic idea on this article or to suggest an idea for
If finance has deep understanding of Achieving buy-in means that you will need another article, contact Oliver Rowe at
the business strategy, it can connect the to invite criticism with questions like: Oliver.Rowe@aicpa-cima.com.
strategy to the numbers and communicate “What am I missing from your

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