The following is a guide to this way of thinking for an executive—a summary of what we see as the eight key business principles that should guide financial leadership practice. 1. Activate Your Annual Budget Strong annual budgeting is an essential element of financial leadership.
What Is a Chief Financial Officer (CFO)? The term chief financial officer (CFO) refers to a senior executive responsible for managing the financial actions of a company. The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions.
Financial leadership, on the other hand, is guiding a nonprofit organization to sustainability. This is the job of an executive director. He or she is responsible for developing and maintaining a business model that produces exceptional mission impact and sustained financial health.