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Chief Financial Officer
A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, record-keeping, and financial reporting, and, increasingly, the analysis of data. The CFO thus has ultimate authority over the finance unit and is the chief financial spokesperson for the organization. The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board. The CFO directly assists the chief operating officer (COO) on all business matters relating to budget management, cost–benefit analysis, forecasting needs, and securing of new funding. Some CFOs have the title CFOO for chief financial and operating officer. In the majority of countries, finance directors (FD) typically report into the CFO, and FD is the level before reaching CFO. Legal requirement The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Title
Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations, cooperatives, non-profit organizations, educational institutions, partnerships, and sole proprietorships that also confer corporate titles. Variations There are considerable variations in the composition and responsibilities of corporate titles. Within the corporate office or corporate center of a corporation, some corporations have a chairman and chief executive officer (CEO) as the top-ranking executive, while the number two is the president and chief operating officer (COO); other corporations have a president and CEO but no official deputy. Typically, senior managers are "higher" than vice presidents, although many times a senior officer may also hold a vice president title, such as executive vice president and chief financial officer (CFO). The board of direc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gatekeeper
A gatekeeper is a person who controls access to something, for example via a city gate or bouncer, or more abstractly, controls who is granted access to a category or status. Gatekeepers assess who is "in or out", in the classic words of management scholar Kurt Lewin. Various figures in the religions and mythologies of the world serve as gatekeepers of paradisal or infernal realms, granting or denying access to these realms, depending on the credentials of those seeking entry. Figures acting in this capacity may also undertake the status of watchman, interrogator or judge. In the late 20th century the term came into more metaphorical use, referring to individuals or bodies that decide whether a given message will be distributed by a mass medium. Gatekeeping roles Gatekeepers serve in various roles including academic admissions, financial advising, and news editing, along with many areas of the fine arts. An academic admissions officer might review students' qualification ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Performance Indicator
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. Often success is simply the repeated, periodic achievement of some levels of operational goal (e.g. zero defects, 10/10 customer satisfaction), and sometimes success is defined in terms of making progress toward strategic goals. Accordingly, choosing the right KPIs relies upon a good understanding of what is important to the organization. What is deemed important often depends on the department measuring the performance – e.g. the KPIs useful to finance will differ from the KPIs assigned to sales. Since there is a need to understand well what is important, various technique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Plan
In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. This often includes a budget which organizes an individual's finances and sometimes includes a series of steps or specific goals for spending and saving in the future. This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan is sometimes referred to as an investment plan, but in personal finance, a financial plan can focus on other specific areas such as risk management, estates, college, or retirement. Context of business In business, " financial forecast" or "financial plan" can also refer to a projection across a time horizon, typically an annual one, of income and expenses for a company, division, or department; see . More specifically, a fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shared Services
Shared services is the provision of a service by one part of an organization or group where that service had previously been found in more than one part of the organization or group. Thus the funding and resourcing of the service is shared and the providing department effectively becomes an internal service provider. The key here is the idea of 'sharing' within an organization or group. This sharing needs to fundamentally include shared accountability of results by the unit from where the work is migrated to the provider. The provider, on the other hand, needs to ensure that the agreed results are delivered based on defined measures ( KPIs, cost, quality etc.). Overview Shared services is similar to collaboration that might take place between different organizations such as a Hospital Trust or a Police Force. For example, adjacent Trusts might decide to collaborate by merging their HR or IT functions. There are two arguments for sharing services: [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting
Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and Regulatory agency, regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizational Architecture
Organizational architecture, also known as organizational design, is a field concerned with the creation of roles, processes, and formal reporting relationships in an organization. It refers to architecture metaphorically, as a structure which fleshes out the organizations. The various features of a business's organizational architecture has to be internally consistent in strategy, architecture and competitive environment. It provides the framework through which an organization aims to realize its core Quality (business), qualities as specified in its vision statement. It provides the infrastructure into which business processes are deployed and ensures that the organization's core qualities are realized across the business processes deployed within the organization. In this way, organizations aim to consistently realize their core qualities across the services they offer to their clients. This perspective on organizational architecture is elaborated below. Content According ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Analytics
Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data science. Analytics also entails applying data patterns toward effective decision-making. It can be valuable in areas rich with recorded information; analytics relies on the simultaneous application of statistics, computer programming, and operations research to quantify performance. Organizations may apply analytics to business data to describe, predict, and improve business performance. Specifically, areas within analytics include descriptive analytics, diagnostic analytics, predictive analytics, prescriptive analytics, and cognitive analytics. Analytics may apply to a variety of fields such as marketing, management, finance, online systems, information security, and software services. Since analytics can require extensive computation (see ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance
Corporate governance refers to the mechanisms, processes, practices, and relations by which corporations are controlled and operated by their boards of directors, managers, shareholders, and stakeholders. Definitions "Corporate governance" may be defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, corporate law law, or management) often adopt narrow definitions that appear purpose specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Financial Management
Strategic financial management is the study of finance with a long term view considering the strategic goals of the enterprise. Financial management is sometimes referred to as "Strategic Financial Management" to give it an increased frame of reference. To understand what strategic financial management is about, we must first understand what is meant by the term " Strategic". Which is something that is done as part of a plan that is meant to achieve a particular purpose. Therefore, Strategic Financial Management are those aspect of the overall plan of the organisation that concerns financial management. This includes different parts of the business plan, for example marketing and sales plan, production plan, personnel plan, capital expenditure, etc. These all have financial implications for the financial managers of an organisation. The objective of the Financial Management is the maximisation of shareholders wealth. To satisfy this objective a company requires a "long term cour ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Strategy Officer
A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management, including developing the corporate vision and strategy, overseeing strategic planning, and leading strategic initiatives, including M&A, transformation, partnerships, and cost reduction. Some companies give the title of chief strategist or chief business officer to its senior executives who are holding the top strategy role. The need for a CSO position may be a result of CEOs having less time to devote to strategy along with uncertain and increasingly complex global environments. This increases the need for professional strategy development. As a result, the position can be seen in fast moving tech companies, as well in academic, and nonprofit organizations. In recent years, the CSO position increased in popularity in highly professional companies with significant growth and scalability ambitions, which is reflected by the high numb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Strategy
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies three principles underlying strategy: * creating a " unique a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
