Today, leading organizations are looking at new ways to reinvent the enterprise. The goal is to fuel growth and optimize operations. And they’re turning to CFOs to drive their sweeping reinventions. But as the speed of business increases, so does complexity. Understanding what’s needed to accelerate interconnected transformations is key. It’s how CFOs can drive successful enterprise reinvention. It’s also a critical skillset for the modern CFO.
Yet, CFOs face an extraordinary number of decisions to make on compressed timelines. Each one carries cascading consequences in our constantly shifting world. This puts CFOs at the center of what psychologist Barry Schwartz calls the “paradox of choice.” The volume of options and their interconnected nature, often hinders more than it helps. It slows decisions down rather than accelerating them. And in some cases, it can lead to decision paralysis.
To help CFOs overcome the challenges they face today, Accenture has developed two complementary points of views. They explore how CFOs can maximize the effectiveness of their strategic decision-making in today’s fast-paced and complex business environment.
The first paper is titled The Paradox of Choice for CFOs – A guide for enterprise reinvention in the age of complexity. It presents insights on how CFOs can overcome the paradox of choice. In it, we discuss how to accelerate strategic decision-making. The upcoming second paper, the CFO Success Paradigm, will expand upon the findings of the first point of view, offering a novel approach to help CFOs navigate the complex dynamics of decision-making and the impact they drive. It helps CFOs successfully execute better decisions at the right time.