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Controller as Business Manager

Paperback Engels 2016 9781940235639
Verkooppositie 8735
Verwachte levertijd ongeveer 8 werkdagen

Samenvatting

This publication will help finance and accounting managers understand and apply a critical set of financial and business management skill sets in order to become more integral contributors to the higher level business activities within their organization. With insight and examples the author will lead you through the strategies and thought processes that address key areas such as risk, communications, planning and profitability. The content emphasizes the additional roles that controllers and accounting managers are now playing within their organizations. It will show you a roadmap that can expand your role from a simple internal process / transaction orientation to an external orientation focused on understanding business, industry and macro trends.

This book will address:

-Controllers and accounting managers who are being increasingly called on to assume an enterprise–wide management role in their organizations.

-Tools and techniques that can have immediate impact.

-Sufficient business theory to inform, but deliver enough strong practical content to lead to actionable strategies.

Specificaties

ISBN13:9781940235639
Taal:Engels
Bindwijze:paperback
Aantal pagina's:336
Verschijningsdatum:30-12-2016

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Inhoudsopgave

INTRODUCTION 1
Expanding Controller Value 1
Factors Currently Influencing Controllers 1
The Path From Controller to Business Partner 3
First Circle Detail–Oriented Controller 3
Second Circle Controller and Business Strategy 4
Third Circle Industry Strategy 4
Fourth Circle Trends, Politics, Economy 5
Contrast Detailed Controller With Business Partner 5
Survey of What CEOs Want From Controllers and CFOs 5
Themes and Structure of This Book 6

1 CONTROLLER VERSUS BUSINESS MANAGER 11
Controller vs. Business Manager 11
The Role of Controller 11
The Role of Business Manager 11
Contrast Controller With Business Manager 12
Servant Leadership 15
Principles of Servant Leadership 16
Managing Versus Leading 17

2 ORIGIN OF VALUE AND PLANNING CONTINUUM 23
The Overall Planning Model 23
Dreams 24
The Value and Purpose of Dreams and the Relationship to Planning 25
Vision 26
Mission 27
How Do You Make a Mission Statement Come Alive in an Organisation? 28
Goals 28
Execution 29
Success 30
The Planning Continuum 30
Dreams 31
Vision 31
The Business Plan 31
The Strategic Plan 31
The Annual Plan 31
Three– to Five–Year Plan 32
Risk Management 32
Vacation Metaphor for Planning 32
Identifying the Business Model 34
Creating Value Through Strategic Alignment 35
Driving Value Through an Aligned Culture 43
Clarify Performance Expectations 43
Define Values in Behavioural Terms 45
Hold Leaders and Staff Accountable 46
Getting Started with Your Own Culture Transformation 46

3 CORPORATE CULTURE AND BUSINESS PLANS 49
Corporate Culture and Planning 49
Corporate Culture and Its Relation to Strategic Planning 54
McKinsey Study Strategic Planning 57
The Business Plan 62
Introduction 62
The Business Plan 62
What Are the Benefits of Using a Business Plan? 62
Considering the Audience for a Business Plan 63
Business Plan Outline 64
Cover Sheet 65
Table of Contents 65
Executive Summary 65
Company Description 66
Industry Analysis 68
Market Analysis 69
Competition 70
Marketing and Sales 74
Operations 75
Management and Organisation 76
Capitalisation and Structure 77
Development and Milestones 78
Risks and Contingencies 79
Financial Projections 79
Appendices (Optional) 80
Business Plan Pitfalls 80
The Business Plan Is Only Written to Receive Funding 81
The Business Plan Is Written by a Consultant 81
The Business Is Unwilling to Spend the Required Time to Create the Business Plan 81
The Business Does Not Match Its Corporate Culture With the Same Level of Business Planning 82
The Business Operates in Crisis Mode and Therefore Ignores the Planning Process 82
The Plan Is Not Shared With All Levels of the Organisation 82
Lower Level Employees Had No Input Into the Business Plan 82
The Business Does Not Recognise the Power of a Vision or a Mission Statement 82
Employees Do Not Know How Their Positions Relate to the Business Plan 83
The Business Has Hidden Issues That No One Is Willing to Discuss 83
The Business Is Unwilling to Accept That Its Business Model Is Out of Date or May Be in Jeopardy 83
Hockey Stick Projections 83
Underestimating Competition 83
Underestimating Start–up Expenses 84
Overestimating Sales Volume Ramp Up 84
Lack of Consistency in the Plan 84
Lack of Objective Reviewer 84
Owner of Business Plan Is Too Enthusiastic About Derivative Possibilities 84
Market Share Estimates That Have No Support 85
Lack of Visual Charts and Diagrams 85
Credibility of Board of Directors 85
Uncontrolled Spending and Start–up 85
Failure to Review and Include Ratios and Trend Analysis 85
The One–Page Business Plan 86

4 STRATEGIC PLANS 87
The Difference Between a Business Plan and a Strategic Plan 87
Benefits of Strategic Planning 87
Basic Overview of Various Strategic Planning Models 88
Model One Basic Strategic Planning 88
Model Two Issue–Based (or Goal–Based) Planning 89
Model Three Alignment Model 89
Model Four Scenario Planning 90
Model Five Organic (or Self–Organising) Planning 90
Comparison of New Planning to Old Planning 91
Strategic Planning Resources 91
Software Programs 92
Web Sites 92
Government Resources 92
External Consultants 92
Coaches or Facilitators 92
How Are Departmental Goals Influenced by Strategic Goals? 93
Tools That Are Available to Aid the Strategic Planning Process 93
SWOT Analysis 94
PEST Analysis 95
Scenario Planning 96
Competitive Analysis 97
Goals Grid 97
Focus Groups 98
STP Method 98
Gap Analysis 99
Start and Stop 99
Plus Delta 99
Balanced Scorecard 100
Force Field Analysis 101
Product–Market Growth Matrix 103
Mind Mapping 104
The 5 Whys 105
How To Conduct Strategic Planning for Your Company 106
One–Page Strategic Plan 108

5 LEAN MANAGEMENT, BEST PRACTICES, AND TURNING DATA INTO KNOWLEDGE 113
Introduction 113
Lean Management 113
Lean Manufacturing Overview and Benefits 114
5S 114
Visual Controls 115
Value Streams 115
Pull 116
Mistake Proofing 116
Quick Changeover 116
Six Sigma 117
Theory of Constraints 117
Lean Concepts 118
Value Streams and Value Stream Mapping 118
Pull Manufacturing 120
Kanban 122
One Piece Flow Manufacturing 123
Standard Work and Takt Time 124
Takt Time 124
Production Smoothing 125
Kaizen 126
Waste Identification 128
Office Lean Management 129
Lean Office Approach 129
Implementing a Lean Programme in Your Business 131
Best Practice Checklist 132
Turning Data Into Knowledge 137
Almanac of Business and Industrial Financial Ratios 138
Altman s Z–Score: A Bankruptcy Predictor 144
Z–Score Model 1 145
Z–Score Model 2 152
Z–Score Model 3 152
Publicly Traded Data 153
Finance Yahoo Comparable Data 153
Economic Analysis American Association of Railroads 156
Economic Analysis Federal Reserve Industrial Production and Capacity 159
Economic Analysis Federal Reserve Data 162
Correlation Analysis 166
Ratio Analysis 167
Financial Ratios 167
Liquidity Ratios 167
Asset Turnover Ratios 168
Financial Leverage Ratios 169
Profitability Ratios 170
Dividend Payout Ratio 170
Use and Limitations of Financial Ratios 171
DuPont Calculation 174
Summary Comments 175

6 ETHICAL LEADERSHIP 177
The Committee of Sponsoring Organizations (COSO) 177
Relationship of COSO and Ethics 179
Internal Control Principles 179
Internal Audit 182
Chief Ethics Officer 182
Fraud Reporting Process 182
Measurement 183
Sample Code of Ethics Policy Statement 183
Code of Ethics and Business Conduct ABC Co. 183
Set Metrics and Report Results Accurately 186
AICPA Code of Professional Conduct 188
Members in Business and Industry Examples of Violations 188

7 EMPLOYEES 191
What Do Employees Want? 191
Meaning 192
Control 193
Reward 193
Recognition 195
Balance 196
Recruit, Retain, and Develop 196
Personality Profiles 197
Merrill–Reid Descriptors 200
Merrill–Reid Implications for Working with Staff 201
Profile Tools 202
Myers–Briggs Profile 202
The Caliper Profile 208
Culture Index 210
Performance Values Matrix 214

8 OVERSIGHT OF HUMAN RESOURCES AND INFORMATION TECHNOLOGY 217
The Finance Function and Oversight of the Human Resources Function 217
Trends in Strategic Human Resource Management 218
Overview of Human Resource Management 219
Mission Statement 219
Environment and Trends 220
Strategy 221
Evaluation 221
Leveraging Lean Understanding in the HR Function 224
Outsourcing the HR Function 226
How To Manage the IT Function Successfully 227
Additional IT Duties for the Controller 229
Creating an IT Strategic Plan 230
IT Strategic Plan Principles 231
Information Technology Strategic Plan Outline 231
IT Benchmarking 239
Opportunities To Develop Efficiencies Within an IT Department 241
Lean IT Service Management 241
Staffing the IT Positions and Outsourcing 242
Staffing 242
Outsourcing 243

9 PROJECT AND CHANGE MANAGEMENT 247
Overview 247
Principles of Change Management 248
Assessing Person and Business Readiness To Change 250
Phases of Change 251
Why People Resist Change 252
How To Communicate Change 254
Words We Use 255
Change Management for Teams and Projects 256
The Role of Top Management 257
Danger Signs That the Change Process Is Failing 258
Role of Attitudes, Thoughts, Feelings and Beliefs 259
Conclusion: Two Checklists for Managing Change in Business 260
CHANGE Approach Checklist 260
Prosci Change Management Planning Checklist 261

10 COMMUNICATION AND PRESENTATION SKILLS 263
Communication Skills 263
Failure to Communicate 263
Purpose of Communication 264
Types of Communication 265
Improving Communication Skills 266
Listening 266
Speaking 267
Background of Other Party 268
Pitfalls in Communication 268
Understanding NLP 269
Uses of NLP 270
Three Main Learning Styles 271
Utilising NLP 271
Eye Accessing Cues 271
Body Language Understanding the Unspoken 272
Improving Presentation Techniques 274
Financial Presentations Made Easy 274
Improving PowerPoint Skills 276
Managing Your Boss 277

11 SUMMARY 281
Introduction Expanding Controller Value 281
Chapter 1 Controller vs. Business Manager 281
Chapter 2 Origin of Value and the Planning Continuum 282
Chapters 3 and 4 Corporate Culture, Business and Strategic Plans 282
Chapter 5 Lean, Best Practices, Data Into Knowledge 283
Chapter 6 Ethical Leadership 283
Chapter 7 Employees 283
Chapter 8 HR and IT Functions 284
Chapter 9 Project and Change Management 284
Chapter 10 Communication Skills 284
APPENDIX A 287
APPENDIX B 293
APPENDIX C 309
APPENDIX D 287

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