The Ledger
Curated content foranalytical business leaders
Tag Archives: decision making
Productive Relationships are Key to CFO Success
July 3, 2020
With business disruptions mounting and the COVID-19 crisis continuing to impact companies, CFOs should hone their leadership skills in three areas. According to a recent publication from The Wharton School of Business – “As leadership advisors to C-suite executives, boards, and investors, we have found that successful leaders do three things well: They have the right Priorities, the right people (Who), and the right Relationships to achieve results.” The study identifies which two CFOs tend to do well, and which one falls short.
Are You Really Data-Driven?
May 22, 2020
“Being a data-driven organization takes more than great technology and quality data. Like other aspects of digital transformation, it requires the right internal processes and culture — where the business properly guides incentives and takes steps to ensure that data is driving decisions appropriately. Failing to do this can lead to data misuse, which can be costly and hard to identify.”
Making Better Decisions is Both Art and Science
April 1, 2020
“External factors will always have an impact, and this includes luck, as good and bad fortune can clearly be influential in determining success or failure. But a sound internal approach to decision-making will insulate the business from this, while also mitigating the stress attached to making decisions.”
The 3 Most Common Profit-Killing Mistakes to Avoid
October 22, 2019
According to Gartner, just three types of financial decision-making mistakes can cost businesses around 3% of their net profit. Operational decisions are increasing in speed, volume and complexity — creating a challenge for finance, whose job it is to make sure those decisions are financially sound. Many finance teams have invested in different tools and technologies to improve their decision-making capabilities, however, few are successful at consistently supporting business decisions in a way that delivers tangible business value. To change this, finance leaders must stop making the following profit killing mistakes: confusing a desired outcome with the likely outcome, overlooking a decision’s effects on other parts of the company, and having an “any business is good business” mindset.
Read More at Smarter with Gartner >
Data-Driven Decision-Making is Fueling a Competitive Advantage
August 27, 2019
Many companies have adapted to a “data-driven” approach for operational decision-making. Data can improve decisions, but it requires the right platform to get the most from it. The rapid adoption of intelligent technologies in today’s marketplace has completely turned decision-making practices on their heads. Traditionally, businesses depend on everyone’s opinion before making big decisions. However, it comes with the risk of slowing down the decision-making process in a hyper-competitive environment. Modern organizations have employed big data technology in their operations to help them analyze the consistently generated data. By having access to real-time accurate data insights, decision makers can make meaningful and strategic decisions faster.
Read More at Forbes Magazine >
The Cost of Poor Business Decisions
July 17, 2019
According to Gartner, poor operational decision-making compromises upward of 3% of profits. As digitalization pushes businesses to grow and change, operational decisions are increasing in speed, volume and complexity — creating a challenge for finance, whose job it is to make sure those decisions are financially sound. Progressive CFOs are modernizing their decision-making process by adopting a business model that provides granular visibility into past, present and future financial performance. For finance teams to maximize their ability to drive financially sound operational decisions, they need to improve the financial aptitude of operational decision makers and instill more finance information and analysis into those outcomes.
Read More at Smarter with Gartner >
