Creating Value in a Regulated World: A CFO Perspective - Hardcover

Read, Cedric

Hardcover

ISBN 10: 0470013532 ISBN 13: 9780470013533

Publisher: Wiley, 2006

Synopsis

This book is about championing a move away from simply evaluating physical assets to understanding and evaluating the intangible value of an entity. It means moving beyond economic theory to reprioritise and change the organisation so that further value can be created via processes, systems, measures, skills, knowledge and strategy. It is also about mapping the intangible value chain.

The book looks at value networks and, using real-life projects asks questions such as:

• What do company value networks look like
• How are they used to create value
• How can one ‘value’ the value chain
• What lessons can be learnt from companies with high value networks as opposed to companies with low value networks
• What is the impact on finance disciplines, processes, measures, systems and skills.

These answers to these questions as provided by the case studies and interviews with CFOs from the companies involved will help to improve focus, improve shareholder value, improve transparency – both internally and externally – cut waste in the current decision support structure and prevent inadequate decision making and lost opportunity.

About this title

About the Author

Cedric Read currently leads his own consultancy, CCR Partners Ltd, providing specialized consulting advice to CFOs in leading companies. CCR partners maintains a worldwide network of CFOs, known as the Value Network Initiative (VNI). VNI members meet regularly in London, Frankfurt, and New York to share best practice in the finance function.

Cedric Read served as a senior partner and consultant for PricewaterhouseCoopers (PwC) for 25 years. In his position as Global Leader of PwC’s Financial Management Consultancy, he wrote two books, CFO: Architect of the Corporation’s Future and eCFO: Sustaining Value in the New Corporation.

Subsequently, with SAP AG, Cedric wrote the book The CFO as Business Integrator, and High Performance through Finance Business Process Outsourcing.

From the Back Cover

"There is life beyond regulation! CFOs have to encourage their organizations not only to work within regulatory frameworks, but also to think 'out-of-the-box', towards a positive and beneficial outcome."
―Santiago Fernandez-Valbuena, CFO, Telefonica

"The benefits of our SOX 404 project: a single control function and simplified, standardized business processes. The SOX 302 attestation process has clarified responsibility―accountability no longer rests with committees but with individuals."
―Iain Macdonald, Group Controller, BP

"Innovation is particularly important in an industry where less than 1% of ideas are ultimately successful. We constantly measure the performance of our R&D investment, rigorously applying value-based management techniques."
―Dr Kurt Bock, CFO, BASF

"Innovative Business Partnering is at the very heart of the future role of finance, providing the capabilities and processes for maximizing value creation. Our Finance Academy helps embed best practices across the company, promote new initiatives, and share learning."
―Paul Baumann, VP Finance Academy, Unilever

Two factors are reshaping the CFO’s role today. Vigorous expansion: Companies have survived the dot-com bust and weathered major reputation scandals. They are enjoying strong profits, investing heavily in innovation, and looking outward to vibrant new markets like India and China. On the other hand, Regulatory burdens have increased exponentially, both internationally and in-country. The intensity of these two converging forces is unprecedented.

Each chapter of Creating Value in a Regulated World contains interviews with leading CFOs. The author provides an invaluable guide to how top companies are coping with this dilemma through case studies, action plans, and executive insight.

From the Inside Flap

"My agenda for the future:

• Beating the competition on a sustainable basis, beating shareholder performance expectations
• Looking at the broader risk picture, from the sheer weight of regulation to the best possible growth environment
• Continuing to take out cost, looking again at outsourcing and opportunities for off-shoring."

―Nick Rose, CFO, Diageo

At a time when business horizons are broadening, regulatory pressures threaten to seriously impede – or even stifle – corporate growth. This raises some fundamental questions: How can CFOs simultaneously grow and innovate while effectively managing the regulatory pressures they face? How can they pursue the tremendous opportunities for expansion currently on the horizon while keeping a handle on complexity?

A timely strategic guide to the rapidly changing world of CFOs and their finance functions, this book explores the opportunities for:

• Leveraging the benefits of risk and regulation
• Balancing centralized control with frontline creativity
• Managing the value of intangibles – customers, brands, R&D
• Forging new support disciplines for decision making and global services
• Developing finance capabilities and skills for innovative business partnering
• Raising the bar for standards of corporate behavior, responsibility, and sustainability

Creating Value in a Regulated World is built around richly informative interviews with senior finance executives at more than 40 of the world's best-run companies, from GE and Proctor & Gamble in North America to Diageo and BP in Europe. Through their detailed descriptions of strategies and best practice, you’ll gain firsthand insight into how global leaders are responding to the biggest, most challenging issues on the finance agenda.

Edition details

• Publisher: Wiley
• Publication date: 2006
• Language: English
• ISBN 10: 0470013532
• ISBN 13: 9780470013533
• Binding: Hardcover
• Edition number: 1
• Number of pages: 396