A strong leadership coupled with a cohesive approach to change management is fundamental to effectively respond to the demands of today’s shifting market dynamics, disruptive technologies and growing competition.
“Change which is almost always inevitable is essential for progress and accepting the necessity of change enables managers to see times of transition not as threats but as opportunities for reinventing their companies and themselves,” said Geetu Ahuja, Head of MENA and Pakistan, CIMA.
Key decision makers in an organisation play a critical role as change agents in their businesses. While it is impossible to anticipate every change effort, the likelihood of change is something managers can count on and plan for.
Managers who approach change with an open mind and focus on its positive elements find ways to motivate others and harness enthusiasm for further progress. With growing business complexity, decision makers are turning to management accountants to anticipate, catalyse, and manage change with their organisations.
“CIMA works closely with employers to constantly update its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders,” added Ahuja.
Joining the dots: decision making for a new era’, a recent research report from CIMA and the AICPA outlines best practices guidelines for companies to make better decisions and be able to respond effectively to the risks and opportunities they are presented with.
Top Tips: To become successful change agents in their organisation senior leaders need to:
1. Have a clear, compelling vision of the change they want
2. Articulate what the change is, why it is necessary, and how it will benefit both employees and the organisation
3. Build greater trust between the employees to improve sharing of information.
4. Drive greater collaboration and motivate employees to achieve the change vision
5. Create greater transparency to align employees and eliminate barriers that interfere with the change initiative
6. Share outcomes of previous decisions to allow adjustment of review processes and metrics.