Though CFO is still a top executive position in leading companies worldwide, it carries with it a ton of expectations. The task of modern CFAs is no more into financial forecasting and risk management, but stirring rough tech waves flashing into the finance domain through disruptive technologies. Until the 2020s, fintech skills were just on a pilot mode for CFOs but with the pandemic spreading on a full scale they took a deep plunge forcing CFOs to adopt a ‘think-outside-the-box” approach.
Working through roadblocks, CFOs found Entrepreneurial Finance as a silver bullet to meet the growing need of the market and change the trajectory of companies and organizations. CFOs who lived long in the financial bubble has to jump out to seek the intelligence of entrepreneurs to devise strategic plans and decisions to boost organizational performance and growth. This brought in a new turn in the finance industry and promised a future for CFOs.
Why Study Entrepreneurial Finance?
Digital transformation has turbo-charged the role of CFOs in companies across sectors and Entrepreneurial Finance brings a whole new dimension by throwing spotlight on few finance iteration areas with an entrepreneurial edge-
Without proper strategic consideration, the discipline is incomplete. Two counts that future CFOs need to understand about taking Entrepreneurial Finance are value creation and strategic decision-making.
Value Creation matters to CFOs as it forms the heart of any entrepreneurial activity. It isn’t a one-off activity but an endless cycle of incremental improvements through various business activities. Entrepreneurial value creation comprehensively can be described in four stages: value creation, value measurement, value enhancement and value realization as per the C-MER model. It focuses on what creates value instead of merely presenting value creation as something popping out of the accounting framework.
On the other, deliberate and tactical planning and implementation ensure a firm’s growth. Vigorous strategic deliberations help maximize the chances for entrepreneurial firms to take smart and impactful business decisions for the future, support firms to prudently optimize available financial and non-financial resources, tap potential opportunities to advance progress and value.
Considering finance as a vital factor, Strategic Entrepreneurial Finance represents a fusion of three disciplines: Strategic Management, Financial Management, and Entrepreneurship.
Entrepreneurial Finance is an exciting multi-paradigm and discipline that reflects and examines business issues and challenges from different angles that better encapsulate actual entrepreneurial practices.
Want to grab lead finance roles in companies and top MNCs, Organizational Finance is a one-stop course. IIM Lucknow-Wiley NXT offers an Executive Course in Strategic finance for emerging CFO & FP&A leaders with a tech-integrated and industry-led curriculum that upends traditional finance management traits among students and professionals and broadens their vision of finance language and hone skills to support the trending job market.
Over 200 years, Wiley is helping people and organizations develop skills and knowledge to keep up with the trend. Wiley is committed to developing effective digital learning and assessment tools and certifications to help education sectors, businesses, and individuals to achieve desired goals.To learn more about the course, visit the Miles Education website.