Identifying the CFO Skills to Achieve Business Recovery in the Covid-19 Postcrisis Period: A Delphi Study

DOI

10.2991/978-94-6463-150-0_12How to use a DOI?

Keywords

Business agility; Chief financial officer (CFO); Covid-19; Delphi method; Postcrisis management

Abstract

The pandemic of COVID-19 is posing a threat to businesses around the world, prompting them to reconsider their business strategies in order to survive. Businesses have had to confront a variety of concerns, such as supply chain interruptions, shifting customer behaviours, employee safety, and new work environments. The C-suite must demonstrate grace under pressure when the business is in crisis mode, and the CFO must understand the worst-case scenario of the pandemic and its impact, assess the company's liabilities, and begin planning an appropriate response. Even after the Covid-19 crisis, CFOs need the necessary competencies and skills to help businesses recover from the Covid-19 crisis. There is a wealth of study on how leaders behave in times of crisis; however there is less research on the leadership skills needed after a crisis, and there is still a knowledge gap on which leadership abilities are necessary after a crisis. The purpose of this Delphi research was to pinpoint the leadership traits necessary to foster organizational adaptability and behave honorably throughout Covid-19's post-crisis period. The CFO abilities that support the possession of the competences necessary for a Covid-19 postcrisis leadership CFO were identified by this study using a three-round Delphi methodology. This study indicates that the aim of promoting business agility after Covid-19 crisis requires the skills of the CFOs, those are: postcrisis vision development, supply chain protection, tighter cash management, digital way of working and thinking differently to capture new opportunity.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Hiep Thien Trinh
PY  - 2023
DA  - 2023/05/23
TI  - Identifying the CFO Skills to Achieve Business Recovery in the Covid-19 Postcrisis Period: A Delphi Study
BT  - Proceedings of the International Conference on Emerging Challenges: Strategic Adaptation in The World of Uncertainties (ICECH 2022)
PB  - Atlantis Press
SP  - 162
EP  - 179
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-150-0_12
DO  - 10.2991/978-94-6463-150-0_12
ID  - Trinh2023
ER  -