The Three E’s of Strategic Finance
Finance must be an integral part of the strategic process, and successful engagement in business strategy requires finance professionals to play key roles—and often lead the process—in three specific ways: education, evaluation, and execution. Education is a key element in strategic finance because it is the bridge between data and insights. Reporting doesn’t always lead to understanding, and sharing information doesn’t always result in actionable insights. In today’s organizations, proactive education about how finance can and should influence business decisions is essential to strategic success. Evaluation involves finance’s analysis of the present reality and possible future. Finance provides future operational plans, capital project analysis, financial markets planning, and execution. Every business strategy relies on timely insights that shape business growth. Finally, execution is the orientations and skills finance professionals possess that are critical to lead strategic execution.
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