When It Pays to Think Like a Finance Manager

Harvard Business Review

If you want approval for a new project — purchasing new equipment or computer systems, applying for a patent, building a new store — chances are you need your company’s finance department on board. To get the green light, it helps to understand how finance people think. But finance people like me are skeptical even when the proposals do project a return. Finance & Accounting Tool. Finance & Accounting Influence

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6 vital workplace skills you’ll need to succeed in the future

Career Advancement

Most people can’t understand it without having someone to translate it and make recommendations for how it should influence organizational direction. Having a strong understanding of how to analyze reports will help professionals in departments from finance to HR to help steer their organization in the right direction. Emotional intelligence will also make them more persuasive to high-level leaders, clients, and peers, expanding their sphere of influence within all of those groups.

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14 Years In, What I’ve Learned.

Rich Gee Group

Suggested reading: How To Win Friends And Influence People Plan for the ups and downs of work and money. Suggested reading: Small Business Finance for the Busy Entrepreneur: Blueprint for Building a Solid, Profitable Business Fail often, fail forward.

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Recommended Resource – Advocacy

Strategy Driven

Advocacy : Championing Ideas and Influencing Others. Rather, reputation, relationships, timing, and persuasive messaging is needed to garner the attention and buy-in necessary to gain action on one’s proposals. These immediately implementable actions are supported by highly illustrative examples and tools/templates – everything needed to create and execute a plan to get action on one’s next proposal. Recommended Resource – Finance Without Fear.

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N2Growth Blog

LeadsandBids.com A virtual platform offering a network of services and proposes to bring contractors, property owners, finance, insurance, real estate and other pertinent services together.

Four Risks to Avoid During B2B Web Development

Strategy Driven

If all companies were the same, there would be no single company or proposal that matches the needs of a specific project. The trick is to combine the financing model and the development calendar.

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Stretch Assignments for High Potential Employees

CO2

Secure financing for a key acquisition. Influence/manage people or processes for which one has no direct authority. Convince upper management to support a proposal. Think of the last time you really grew fast. Chances are, you faced a significant challenge. You may have used parts of yourself that you didn’t even know existed, and you probably surprised yourself by how well you performed and persevered.

Game Changers | N2Growth Blog

N2Growth Blog

So let me propose the defining game changer which is one all good leaders practice regularly: know what you can do, what you cannot do, and know what you need to focus on to achieve your intended results.

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Deadly Disease of Management: Emphasis on Short-term Profits

Deming Institute

At Berkshire, managers can focus on running their businesses: They are not subjected to meetings at headquarters nor financing worries nor Wall Street harassment. It is also a bit amusing to see the Chamber of Commerce pushing an idea Deming was called unrealistic for proposing.” One of Dr. Deming’s 7 deadly diseases is: Emphasis on short-term profits: short-term thinking.

What All Great Leaders Have In Common | N2Growth Blog

N2Growth Blog

My recommendation is simple, if you want to increase you income, your impact or your influence, then I would suggest you increase your reading. All they read is commercial offers, proposals, etc.

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History Rhymes in the Greek Debt Crisis

Harvard Business Review

Although its heyday as the world's most advanced civilization has long since passed, Greece once again has the potential to influence the rest of the world. On August 13, 1982, when Mexican Finance Minister Silva Herzog met with officials of the U.S. Following complex negotiations, Secretary of the Treasury Nicholas Brady proposed that debt reduction and/or debt service reduction be combined with increased lending and continuation of growth-oriented economic adjustment.

Why Labor Protests in France Won’t Stop Macron’s Reforms

Harvard Business

The protests have already cost the CEO of Air France his job : He stepped down after workers rejected his proposal of a 7% wage increase over four years (unions want a 6% immediate increase). In 1995 a train strike paralyzed France and forced the government to back down from its proposed reform of the railway sector. last year, unemployment is slowly decreasing , and public finances are improving faster than anticipated. ETIENNE LAURENT/Getty Images.

Rethinking "One Share, One Vote"

Harvard Business Review

Significantly, the Financial Times reported last week that the European Commission was preparing a proposal to give "loyal" shareholders extra voting influence. That respected commentators and policymakers are proposing apportioning voting rights unequally among ordinary shareholders — and high-profile companies have, in practice, been doing it — is remarkable. Boards Finance

America's Fiscal Cliff Can Be a Catalyst for Growth

Harvard Business Review

As America turns its attention to the "fiscal cliff," the proposals on the table look at solutions that will either shrink the economy (e.g. Policy variables like these — that can directly influence the economy by providing incentives to grow the economy when growth is anemic, to tone it down if the growth gets too hot, and to align corporate interests with national interests — are critical to expanding the pie. Economy Finance Global business

Caption Contest 2010.3

Chris Brady

Posted by: Allan Gainer | February 23, 2010 at 01:41 PM Bubba says, "By golly Cletus, it's the making of the next Obamacare health care proposal."

We Recorded VCs’ Conversations and Analyzed How Differently They Talk About Female Entrepreneurs

Harvard Business

When venture capitalists (VCs) evaluate investment proposals, the language they use to describe the entrepreneurs who write them plays an important but often hidden role in shaping who is awarded funding and why. In the European Union, government VCs allocated €3,621,000,000 to finance innovation and growth in small and medium-size businesses from 2007 to 2013. They also influenced the development of new regulations.

A Guide to Winning Support for Your New Idea or Project

Harvard Business Review

“It’s very hard to start a new initiative,” says John Butman, author of Breaking Out: How to Build Influence in a World of Competing Ideas. “You need to be seen as credible” when you’re talking about the financial implications of your initiative to the finance group, for instance. ” Propose a pilot. Ashford suggests proposing a trial run. Influence Collaboration

25 Years Ago I Coined the Phrase ?Triple Bottom Line.? Here?s Why It?s Time to Rethink It.

Harvard Business

With this in mind, I’m volunteering to carry out a management concept recall: with 2019 marking the 25th anniversary of the “triple bottom line,” a term I coined in 1994, I propose a strategic recall to do some fine tuning. This idea infused platforms like the Global Reporting Initiative (GRI) and Dow Jones Sustainability Indexes (DJSI), influencing corporate accounting, stakeholder engagement and, increasingly, strategy. David Aubrey/Getty Images.

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Can You Really Power an Organization with Love?

Harvard Business

What is more, love doesn’t replace the functional elements of strategy, finance, sales, product development and HR. Rather we propose it as the idealized operating system of an organization – let’s call it LoveOS. LoveOS supports the “apps” of strategy, finance, etc. Vincent Tsui for HBR. Tolstoy asserted that “ one can live magnificently in this world if one knows how to work and how to love.”

Want Less-Biased Decisions? Use Algorithms.

Harvard Business

” Lastly, by looking at historical data on publicly traded companies, a team of finance professors set out to build an algorithm to choose the best board members for a given company. Of course, we should be doing all we can to eradicate institutional bias and its pernicious influence on decision-making algorithms. Orlagh Murphy/Getty Images. A quiet revolution is taking place.

Even a 14-Cent Food Tax Could Lead to Healthier Choices

Harvard Business

Estimates of the annual medical costs of obesity range from $147–$210 billion , approximately 40% of which is financed by Medicare and Medicaid. While information is important, there is scant evidence that providing consumers with it is effective in influencing people toward healthier choices. More than one-third (37.7%, or 91.4 million) of U.S. adults are considered obese, which is among the highest obesity rates in the world.

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A Refresher on Cost of Capital

Harvard Business Review

“At most companies, the cost of capital is a mechanical calculation done by the finance people. For example, a company’s cost of capital may be 10% but the finance department will pad that some and use 10.5% Finance & Accounting Tool. So once the finance department, CFO, or treasure department has determined what the rate is, managers know that is the number to beat if they want to win support for their projects or proposals. Babo Schokker.

Getting Ahead by Leading Across

Harvard Business Review

Her peers complained bitterly about her "my way or the highway" approach and often felt blindsided when they heard her present a proposed plan of action to senior management without having solicited their input. Such relationships form the basis of an executive's ability to influence and persuade others and deal constructively with conflict and the differences of opinion that inevitably arise in fast-paced organizations.

How to Reduce Primary Care Doctors’ Workloads While Improving Care

Harvard Business

Rather than do the conceptually hard and convention-challenging reorganizations of systems and finances required to truly transform care, it is easier to suggest tweaking the system and encouraging patients to use more primary care — and let primary care take it from there. However, this approach piled more responsibility on an already-taxed primary care system and was inefficient because it didn’t reflect the do-it-yourself trends observed in retail, travel, and finance.

What Does It Mean to Sell? Ask the U.S. Supreme Court

Harvard Business Review

coordinates a global sales team of more than a dozen of the company's employees, including product specialists, engineers, and finance people. Team members analyze the bank's needs around the world and propose a solution. Propose Solutions. In the pharmaceutical industry, salespeople primarily influence decision-makers such as doctors, formulary committees, or payers (such as insurance companies). For anyone involved in the sales process, a case before the U.S.

Tough Dilemmas for Companies on Campaign Spending

Harvard Business Review

These are some of the most salient issues of campaign finance facing CEOs and boards of directors as the nation heads into what will certainly be a bitter election year, with both houses of Congress and the Presidency up for grabs. Prior to Citizens United , most major corporations participated in campaign finance through employee funded Political Action Committees (PACs) which are legally authorized to make direct contributions to candidates under strict limits (e.g.

Find the Reverse Leaders in Your Midst

Harvard Business Review

Reverse leaders lead through influence, not authority, and they gain that influence by making strong interpersonal connections. Whether that deep knowledge is in sales, products, finance, technology, or some area that creates important value for the organization, reverse leaders need to have a specialty. In the spirit of reverse innovation, and reverse mentoring , I submit to you that the next trend to watch out for in leadership is, you guessed it — reverse leadership.

“Leadership Qualities” vs. Competence: Which Matters More?

Harvard Business Review

In one group of teams, influence was aligned with competence: the person who knew the most about the task to be done led the team. We studied 49 teams at a publicly held Dutch company; the teams were auditing finances in search of tax evasion and fraud. As a result of that depth, competent leaders can enable their teams to seek out new ideas and propose better solutions.

11 Books Every Young Leader Must Read

Harvard Business Review

Robert Cialdini, Influence: The Psychology of Persuasion. It's an essential primer on the history and current state of finance. Aside from a list for "young business leaders," are there others you'd propose? Recently, I wrote that leaders should be readers. Reading has a host of benefits for those who wish to occupy positions of leadership and develop into more relaxed, empathetic, and well-rounded people.

11 Books Every Young Leader Must Read

Harvard Business Review

Robert Cialdini, Influence: The Psychology of Persuasion. It's an essential primer on the history and current state of finance. Aside from a list for "young business leaders," are there others you'd propose? Recently, I wrote that leaders should be readers. Reading has a host of benefits for those who wish to occupy positions of leadership and develop into more relaxed, empathetic, and well-rounded people.

As More People Worry About Monopolies, an Economist Explains What Antitrust Can and Can’t Do

Harvard Business

On the problems antitrust is not suited for: The most important one is the excessive political power of large companies — to pick their regulators and to influence Congress in terms of the rules of the road, from environmental policies to labor policies to tax policies. I happen to think that’s a huge problem, and indeed is part of a broader problem of generalized corruption by which money has such enormous influence in politics. Steven Moore for HBR.

Use a Brand Council to Help Steer Strategy

Harvard Business Review

A 2008 survey of chief marketing officers and brand managers by the Association of National Advertisers found that 64% say their brands do not influence decisions made at their companies. Brand councils are comprised of senior executives from a range of company functions: key business unit leaders, influential staff leaders from human resources, marketing, legal, and finance, and sometimes even the CEO.

How to Break Through Deadlock on Your Team

Harvard Business Review

The assumptions you make influence which solutions you consider effective or even possible. Interests are the underlying needs that team members try to meet through their proposed solutions. For example, if Daphne directs operations and Kim heads up finance, they may both take the position that the problem be solved using people who do not directly generate revenue.

China’s New Development Bank Is a Wake-Up Call for Washington

Harvard Business Review

But in past weeks, it seems that the movie in Asia has been on fast-forward around global development and financing. Here is a brief synopsis of what we missed: Under Chinese stewardship, a new and potentially disruptive player in the development banking landscape, the Asian Infrastructure Investment Bank (AIIB), which was initially proposed in 2013 by President Xi Jingping, gathered steam.

Rescuing Capitalism from Itself

Harvard Business Review

In the United States, the inclination has been to fix capitalism, mainly with proposals for what I call adjectival capitalism: Sustainable Capitalism, Caring Capitalism, Inclusive Capitalism, Conscious Capitalism, and others. Compare the influence of the World Economic Forum with that of the World Social Forum. HBR STAFF. In 1989, as the Berlin Wall fell alongside communism in Eastern Europe, pundits in the West proclaimed the triumph of capitalism.

What an Economist Brings to a Business Strategy

Harvard Business Review

Economist Ronald Coase proposed auctioning off segments of the electromagnetic spectrum in late 1950s, a policy idea that was later adopted in the 1990s. Economists and finance. Index funds initially were brought to market by Vanguard founder Jack Bogle, whose idea for the S&P 500 Index fund was heavily influenced by two economists: late great MIT economist Paul Samuelson and Princeton’s Burton Malkiel, author of the classic, A Random Walk Down Wall Street.

Get Your Passion Project Moving Without Quitting Your Day Job

Harvard Business Review

You must also be willing to extend your timeline if your proposed end-date doesn’t seem realistic the closer you get, adds Clark. “I wasn’t unhappy at PerkinElmer — I had a resources, infrastructure, a good team, and the opportunity to really influence — but I felt inspired to create something new and be in complete control of my own path,” she says.

What You Should Know About Dodd-Frank and What Happens If It’s Rolled Back

Harvard Business

His bottom line: “For a manager running a nonfinancial business, the proposed reforms to Dodd-Frank are probably a bad trade-off.” The size and influence of U.S. ” Why repeal of Dodd-Frank would be a bad deal for non-financial companies: “For a manager running a nonfinancial business, the proposed reforms to Dodd-Frank are probably a bad trade-off that will have little visible impact in the short term.