1. The CFO and Strategic Planning
Jeremy Gray

2. The CFO as Chief Strategist
Why the CFO is better placed to develop strategy than the CEO or COO
Skills required to develop and implement great business strategies
Organizational structure ideally suited to support CFO as Chief Strategist

3. Challenges facing a CEO in leading strategic planning
Increasing business demands means less time available for Strategic Planning
Complex organizations
Global competition
Increased scrutiny and regulations
Shareholder activists
Presented with the best possible view of the status of the company
COO – potential conflict of interest
CFO – more balanced view:
Programs that are meeting objectives
Challenges in supply chain/logistics
Executable strategies

4. Skills Required of a Chief Strategist
Multitasking
M&A, Competitive Analysis, Program execution
Deep business knowledge
Line management experience
Ability to plan and execute
Comfortable with ambiguity
Focus the organization on horizon two (1 to 4 years)
Objective
Trusted
(Source: Accenture Rise of the chief strategy officer 2008)
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5. What needs to get done
Prepare clear strategic plans and gain commitment from Senior Management
Strategy cannot just be handed down – communication
Strategy is about change – status quo in not a strategy
Need real understanding and agreement – clarity avoids confusion
Drive change – make it happen
Sense of urgency – Competition does not wait
Effective execution wins the game
Bring focus and discipline to decision making
Ensure decisions are aligned with strategy
Listening skills
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6. Some key principles Consider near, medium and long term time horizons
But focus on the medium term
Marks and Spencer, Kodak
Balance strategy creation with execution
Money is made executing not strategizing
Exert influence appropriately
Convince the skeptics
Work around them if necessary
Develop IT and HR skills
Technology and people are key to implementing strategies
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7. How to be a CFO and Chief Strategist
Chief strategist is a demanding role – how can they be combined?
Organizational design
Separate transactional activities from the strategic
Strong FP&A teams
Close to the businesses
Develop their skills
Use them as a sounding board
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8. Summary
CFO’s business knowledge and skill set are ideal for developing strategy
Execution and communication are vital
The right organization is critical
Stepping stone to CEO role
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