Description
Primary about as
There arecontacts many different ways to approach a
strategic conversation as there are adaptive challenges.
Bradley Smith
The point is that, when faced with an adaptive challenge,
Principal
you should get creative and engage people in ways that
Deloitte likely to generate breakthrough insights than
are moreConsulting LLP
brasmith@deloitte.com
your standard meeting.
Endnotes
1
“Are you a strategic CFO?”; CFO Insights, Deloitte CFO Program, Deloitte LLP,
September, 2014.
Moments of Impact: How to Design Strategic Conversations that Accelerate
Change, Chris Ertel and Lisa Kay Solomon, Simon & Schuster, 2014.
3
Leadership without Easy Answers, Ronald Heifetz, Harvard University Press,
1998.
4
Moments of Impact: How to Design Strategic Conversations that Accelerate
Change, Chris Ertel and Lisa Kay Solomon, Simon & Schuster, 2014.
5
Establish a consensus for execution. Strategy is dynamic
Caleb Longenberger
and, asManagernever fully resolved. Still, once there is
Senior such, is
consensus on what LLP
Deloitte Consulting is wrong, alternative choices identified,
and decisions made, execution should be put in motion.
clongenberger@deloitte.com
You may stand a better chance of success though, if
you visualize your best-case scenario before going into a
Sterling Barnett
strategic conversation and sketch out a few initial plans
Manager
for follow-up. Otherwise, you may continue having
Deloitte Consulting LLP
messy conversations and remain unsure if you’re making
sterbarnett@deloitte.com
progress.
2
Ibid.
6
Ibid.
7
Saving Capitalism from Near-Termism, Alfred Rappaport, McGraw-Hill, 2011.
Primary contact
Chris Ertel
Director; Co-author, Moments of Impact: How to Design
Strategic Conversations that Accelerate Change (Simon &
Schuster, 2014)
Deloitte Consulting LLP
certel@deloitte.com
Deloitte CFO Insights are developed with the guidance of Dr.
Ajit Kambil, Global Research Director, CFO Program, Deloitte LLP; Accept the Senior Manager, CFO Education & Events, Deloitte LLP and Lori Calabro, risks Despite your efforts, there will likely be times when strategic conversations don’t work. Politics may be one reason. Sometimes participants simply cannot rise above self-interest.
Near-termism—for example, the way an organization’s incentives are structured or certain market realities—is another factor. Consider, for example, that the average publicly traded stock is now held for only about a year, and you’ll understand how time horizons can affect decision-making.7 Finally, strategic-thinking capabilities can be a constraint. In many organizations, people rise to senior levels based on execution capabilities, but lack the skills that strategic choices demand. Still, for CFOs looking to make an impact in a short time frame, strategic conversations are a useful tool.
And given their place in the organization, it seems natural for CFOs to convene such conversations. So, go ahead: build understanding, shape the choices, and make decisions. In the process, you’ll create your moment of impact. About Deloitte’s CFO Program Deloitte CFO Insights are developed with the guidance of Dr.
Ajit Kambil, Global Research Director, CFO Program, Deloitte LLP; and Lori Calabro, Senior Manager, CFO Education & Events, Deloitte LLP. About Deloitte’s CFO Program The CFO Program brings together a multidisciplinary team of Deloitte leaders and subject matter specialists to help CFOs stay ahead in the face of growing challenges and demands. The Program harnesses our organization’s broad capabilities to deliver forward thinking and fresh insights for every stage of a CFO’s career – helping CFOs manage the complexities of their roles, tackle their company’s most compelling challenges, and adapt to strategic shifts in the market. For more information about Deloitte’s CFO Program, visit our website at: www.deloitte.com/us/thecfoprogram. The CFO Program brings together a multidisciplinary team of Deloitte leaders and subject matter specialists to help CFOs stay ahead in the face of growing challenges and demands. The Program harnesses our organization’s broad capabilities to deliver forward thinking and fresh insights for every stage of a CFO’s career – helping CFOs manage the complexities of their roles, tackle their company’s most compelling challenges, and adapt to strategic shifts in the market. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, For or other professional advice or services.
This publication not a substitute for such professional advice or services, nor should it be used as a basis for any tax, more information about Deloitte’s CFO Program, visit ouriswebsite at: www.deloitte.com/us/thecfoprogram decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. This publication About Deloitte contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services.
This publication is not a substitute for such professional advice or services, subsidiary it Deloitte LLP. basis see www.deloitte.com/us/about for a detailed description As used in this document, “Deloitte” means Deloitte Consulting LLP, a nor shouldof be used as a Pleasefor any decision or action that may affect your business. Before making any decision or taking any action that may affect legal structure of Deloitte consult its subsidiaries.
Certain services Deloitte shall not be to attest clients under the rules and any person who relies on this publication. of the your business, you should LLP and a qualified professional advisor. may not be available responsible for any loss sustained byregulations of public accounting. Copyright© 2015 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited. 4 Follow us @deloittecfo .
Ajit Kambil, Global Research Director, CFO Program, Deloitte LLP; Accept the Senior Manager, CFO Education & Events, Deloitte LLP and Lori Calabro, risks Despite your efforts, there will likely be times when strategic conversations don’t work. Politics may be one reason. Sometimes participants simply cannot rise above self-interest.
Near-termism—for example, the way an organization’s incentives are structured or certain market realities—is another factor. Consider, for example, that the average publicly traded stock is now held for only about a year, and you’ll understand how time horizons can affect decision-making.7 Finally, strategic-thinking capabilities can be a constraint. In many organizations, people rise to senior levels based on execution capabilities, but lack the skills that strategic choices demand. Still, for CFOs looking to make an impact in a short time frame, strategic conversations are a useful tool.
And given their place in the organization, it seems natural for CFOs to convene such conversations. So, go ahead: build understanding, shape the choices, and make decisions. In the process, you’ll create your moment of impact. About Deloitte’s CFO Program Deloitte CFO Insights are developed with the guidance of Dr.
Ajit Kambil, Global Research Director, CFO Program, Deloitte LLP; and Lori Calabro, Senior Manager, CFO Education & Events, Deloitte LLP. About Deloitte’s CFO Program The CFO Program brings together a multidisciplinary team of Deloitte leaders and subject matter specialists to help CFOs stay ahead in the face of growing challenges and demands. The Program harnesses our organization’s broad capabilities to deliver forward thinking and fresh insights for every stage of a CFO’s career – helping CFOs manage the complexities of their roles, tackle their company’s most compelling challenges, and adapt to strategic shifts in the market. For more information about Deloitte’s CFO Program, visit our website at: www.deloitte.com/us/thecfoprogram. The CFO Program brings together a multidisciplinary team of Deloitte leaders and subject matter specialists to help CFOs stay ahead in the face of growing challenges and demands. The Program harnesses our organization’s broad capabilities to deliver forward thinking and fresh insights for every stage of a CFO’s career – helping CFOs manage the complexities of their roles, tackle their company’s most compelling challenges, and adapt to strategic shifts in the market. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, For or other professional advice or services.
This publication not a substitute for such professional advice or services, nor should it be used as a basis for any tax, more information about Deloitte’s CFO Program, visit ouriswebsite at: www.deloitte.com/us/thecfoprogram decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. This publication About Deloitte contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services.
This publication is not a substitute for such professional advice or services, subsidiary it Deloitte LLP. basis see www.deloitte.com/us/about for a detailed description As used in this document, “Deloitte” means Deloitte Consulting LLP, a nor shouldof be used as a Pleasefor any decision or action that may affect your business. Before making any decision or taking any action that may affect legal structure of Deloitte consult its subsidiaries.
Certain services Deloitte shall not be to attest clients under the rules and any person who relies on this publication. of the your business, you should LLP and a qualified professional advisor. may not be available responsible for any loss sustained byregulations of public accounting. Copyright© 2015 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited. 4 Follow us @deloittecfo .
