Chief Financial Officers and Strategic Planning Essay
Also, because of his financial information, he can determine how much budget will be assigned to any department or project of the company and how this budget will be controlled to make sure that it is efficiently used. The projected profit of the products or services offered by the company and how much time it will take for that investment to be profitable are also concerns of the CFO especially if the company is going to implement a strategic plan that will deal with a new venture or product.
The CFO is an important part of drafting the strategic plan as he has access to the financial information of the company as well as expertise with analysing the process by which the quality and feasibility of the plan can be evaluated. He should be involved in both the planning and monitoring stages of the strategic plan along with the board of directors. He should also have the knowledge of the company’s performance in the stock market and how the company is being viewed by its stakeholders so he can properly allocate the company’s financial resources in future goals that will help improve the company’s finances and value. The CFO