Although a company may have done well in the past and is still doing well today, does not mean that it will still do well tomorrow. To ensure that a company does continue to do well, a business plan for its future must be detailed which hopefully, if followed, will assure them continued success. A dilemma facing many Chief Executive Officers (CEOs) though is; who is best placed within the company to design its future plans. Although some may argue that it would be the head of a department, perhaps production or sales, others have argues that the Chief Financial Officer (CFO) is the only one capable of making such a plan. One of the supporters of the view that the CFO is best placed to make these plans is Maureen O’Connell, the CFO of the Scholastic Corporation. If you find Maureen O’Connell Scholastic current portfolio, you will find that she is the one that does make the future plans for Scholastic and may be doing a very good job, especially considering that Scholastic continues to be one of America’s leading publishers, certainly where children’s books are concerned. This is a large corporation that publishes many of the text books found in classrooms around the country and is responsible for publishing over 600 new children’s books annually. Some of the books that they have published in the past include the Harry Potter series and Hunger Wars but two of its largest endeavours are a book club which is subscribed to by 80% of the schools in the United States and over 130,000 children’s book fairs that occur all over the country. Making future plans for such a large and diverse corporation is no mean task and although O’Connell may certainly be up to the task, it is perhaps her past experience that makes her qualified rather than her position as the company’s CFO. Graduating from New York University with a B.S. in Accounting and Economics, O’Connell immediately started on a varied and impressive career which included being CFO of both Barnes and Noble and the Publishers Clearing House but perhaps what made her more prepared for drawing up future plans for a company, was her experience as Chief Administrative Officer (CAO), Chief Operations Officer (COO), Chief Executive Officer CEO) and President of other companies. There is little doubt that a CFO could make a good choice for planning a company’s future as they can give unbiased opinions, based on each department’s performance, as to which is their best way forward. If one particular department head was given the task, there is the possibility that they may be biased towards their own department, which may not always be in the company’s best interests but the CFO owes no allegiance to any one department. Although a good point, a CFO without a good deal of experience in the field in which the company operates; may not be adequately aware of all the trends and upsets that a company could face in that field.
If you want the company that you’re leading and also yourself to succeed in becoming the best, you should know what things to concentrate on. Instead of just taking on whatever trouble comes across your path or simply putting your attention to some things that may not actually worth focusing on, you should know what subjects are worth concentrating on. Because your company needs to serve in order to gain income and due to the fact that it needs to have funding in order to get operations going, some of the things that you have to bear in mind are production and money. Since humans differ from robots or machines in the sense that people are capable of choosing, you should also put some of your attention on retaining seasoned or best employees since without them you may not be able to make your company do well or survive. Please keep on reading for some more of the things that may enlighten and assist you in leading your group well.
You have to deal with money matters independently instead of just leaving them to your subordinates or to those professionals whose work it is to manage finances. That’s because money is sought after by many and can be stolen. Once it’s lost, work has to be done in order to replace it. Because you have to make sure that you keep on gaining money and that you have to save some from time to time, you have to know how to do budgeting. Take note that you have to know how to not only earn but also save. Even if you’re not tasked at using your company’s resources, as a leader, you should know how to invest so that you’d be able to do so when given the chance to get hold of money and have the obligation of making profit. You also have to learn how to save properly because the value of money relies on the economy and it would be useless for one to just keep resources knowing that their value can become reduced greatly at any time. If you wish to know more about these things, you could try to review Maureen O’Connell or know how a chief financial officer does things so that you would find out how financial management is done.
Being a leader of a company doesn’t only mean making orders. You’re also responsible in maintaining order. Instead of just focusing on telling people how to do their job or what needs to be done, you could also find ways on how you could gain the confidence of your individual workers. When your workers love you, they’d think twice of leaving you or your company.
Take note that you don’t really have to make your staff members feel strongly attached to you. However, you have to make an effort to let them feel that what you’re saying to them aren’t just orders but something that they could benefit from. Tell them that they’d actually have advantages when they’d believe what you’re saying and when they’d perform well better for the company. Since words alone won’t suffice, you could also try giving employees certain privileges. Doing so would give you the opportunity to let your staff members be more close to you.