The Best Place to Train Future Ceos

The Best Place to Train Future CEO's

A Review of the Literature

Shining A. Star

Finance XXX, XXXXXX

Dr. XXXX XXXXX

February 8, 2001

Do you think finance departments are the best place to train future CEOs?

Arguments can be made on both sides whether the best place to train a future Chief Executive Officer (CEO) is in the finance department. In the Army a leader is a leader. It doesn’t matter what position that one occupies. Once you become a leader, it’s your job to influence and persuade others to accomplish the mission.

I believe that the two roles of a CEO and CFO have a lot of common elements: they are all about people, processes and money. To sum it up in one word would be quite simple. That word is execution. There is however a difference in emphasis. The CEO is more the driver, the challenger, and the visionary, while the CFO role is more the enabler, the problem-solver, and the analyzer.

There isn’t a rule book or guideline that can help a company decide if the best place to train a CEO is in the finance department; there are many factors that can sway this decision. Some key points to think of are; what is the background of this individual? Does he or she strictly come from an accounting background or have they had experience in the other departments. What are some of the personality traits of this individual? Is this person a good speaker and motivator or is this person reserved, quiet and afraid to make a decision. According to CFO Asia, they feel that their CFOs lack the ability to make decisions, be proactive and have weak staff development skills.

Another important factor is about the company itself, whether the company is just starting up or if it is an established one. Either way, if your company is looking for a multi-layered financing arrangement or if you envision ongoing, complex financing deals like long term factoring relationship, then a well-qualified CEO with a financial background will...