Speech Abstract

Controlling costs is essential; but it's equally important to align resources with the strategies and the operational necessities of the business.

Traditional financial processes cast Financial executives into the role of controller, but do little for resource alignment.

Far more effective processes can be found by applying principles we all believe in — market economics — to our internal resource-governance processes. By rethinking the business and budget planning process and our methods of cost control, Financial executives can contribute to strategic decision making; improve strategy execution; induce an innovative, agile, entrepreneurial culture; and enhance shareholder value — without any loss of control.

This session explains the vision, and suggests practical first steps to implement market economics inside your organization.

100-word version....

50-word version....

Outline

• Can you really be accountable for everyone's spending?

• The traditional paradigm, and how it doesn't work

• The concept of market economics inside organizations

• A different approach to budgeting

• How costs are controlled

• How to get started: a practical first step

• Implications: a far more strategic role for Finance

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