CFOs are accountable for well-informed decision making in their organisations, therefore are key to successfully navigating these problems. To fulfil this responsibility in today’s fast-changing and complex world, CFOs need to change their mode of operation.
Consider the approach needed to navigate the challenge of transforming business models to execute sustainability-led strategies of redesigning processes and systems to fulfil fast-evolving sustainability reporting and assurance requirements. Today, such challenges arise against a backdrop of limited financial resources as well as human and natural resources – the long-term survival and success of business can no longer be assured with a narrow focus on financial return alone.
What is a complex multi-dimensional problem?
Complex multi-dimensional problems are problems that often:
- are difficult to define
- involve complex systems
- are difficult to approach, and
- are such that it is difficult to know when you have fully solved them.
This guide explains the five must have integrative-thinking capabilities of the individual CFO or senior accountancy professional (exploring, co-creating, continually becoming, empathising and empowering), and details how they are required for impact in navigating complex multi-dimensional problems, which are also explained.
Thereafter, the guide provides insight on the six approaches professionals, organisations and educators should take to develop their integrative-thinking capabilities.
- Understand your innovating and problem-solving capabilities
- Challenge the organisation’s cultural ecosystem and the profession’s culture
- Embark on shared learning
- Explore your capabilities with immersive and challenging exercises
- Properly reflect in the cycle of ‘plan-do-reflect-plan’
- Engage in developmental programmes.
