Keynote for the Boomer Technology Summit 2014. The Shift Change describes the five major "shifts" business is making in response to the perfect storm of the three mega-trends - technology, demographics, globalization.
Using the two-curves framework from the Institute for the Future as inspiration, Tom has applied the transformational change to the signals and trends happening in the marketplace today.
The challenge is to determine if and when you should lead your organization through the shift change, keeping in mind the risk of doing nothing or the RONI - return on not investing.
The key to thriving during the shift change is ROP - return on people and the #1 skill needed is collaboration.
In order to get your ROP, you need a systematic and strategic approach to your talent development which is exemplified in a training framework from the Business Learning Institute called the Bounce.
The Bounce covers the career trajectory of professionals as they move from technical proficiency to managing people and projects and ultimately organizations. The bounce speaks to the change in direction from technical mastery to acquiring competencies to lead others and leading organizations. It is about velocity and trajectory as you shift direction to the need for more “success skills” as you move up n your career. The Bounce includes the latest research on competencies from the AICPA through the CPA Horizons 2025 Project and the CGMA Competency framework.
It concludes with the five ways to thrive in the shift change: 1) Purpose and Vision, People, Collaboration and Engagement, Strategy & Alignment, Technology and RONI.
For more information contact BLI http://www.blionline.org
Fordham -How effective decision-making is within the IT department - Analysis...
Preparing for the Shift Change in Accounting (and Business)
1. Preparing for the
Shift Change in Accounting
Tom Hood, CPA, CITP, CGMA
@tomhood #BTCSummit2014
August 19, 2014
2. If there is a conversation about the future
of the profession, you're bound to hear
Hood's name mentioned as one of the
people leading the way.
– Accounting Today
Tom Hood, CPA, CITP, CGMA
! Named the Second Most Influential in Accounting
by Accounting Today Magazine 2013
! Top 150 Influencer by Linked-In
! Top 25 Influencers in Learning HR by HR
Examiner
! Top 25 Public Accounting Thought Leaders by
CPA Practice Adviser
! Working on Learning Management with AICPA/
CPA2Biz, Cloud Curriculum, Performance
Management /XBRL, Leadership Generations
CEO
Maryland Association of CPAs
(MACPA) www.macpa.org
Business Learning Institute
(BLI) www.blionline.org
http://www.linkedin.com/in/tomhood/
6. “The greatest shortcoming of the
human race is our inability to
understand the exponential
function.”
– Albert A. Bartlett
Erik Brynjolfsson Andrew McAfee,The Second Machine Age
18. How?
1. Professional unity
2. Work / life integration
3. The evolving nature of
leadership and new
leadership models
4. Proactive, goal-focused
planning
5. Networked collaboration
6. Embracing and adopting
new technologies
From:
To:
Hierarchy
Network
Transactions
Relationships
Efficient
Effective
Well managed
Well led
Command Control
Connect
Collaborate
Push
Pull
Good
Great
22. T
“In
a
period
of
rapid
change
and
increasing
complexity,
the
winners
are
going
to
be
the
people
who
can
LEARN
faster
than
the
rate
of
CHANGE
and
faster
than
their
COMPETITION.”
-‐
Tom
Hood,
CPA.CITP.CGMA
7/24/14
26. Curriculum design by BLI and AICPA
usingTop 5 Competencies for future
from CPA Horizons research and job
levels from the BLI “Bounce” Model.
Leadership and Communications
were combined and the 5th category
expanded to include practice
specialties for firms and functional
areas for corporate.
Examples would include: Corporate
Accounting, FPA, divisional
reporting, shared services, etc.
CPA Firms would have audit, tax,
industry specialties.
These technical areas would have
specific curriculums designed to
meet their specific technical
competency needs.
27. CloudLearning
We see this system as a key recruitment and retention
tool, allowing us to offer our people many of the things
that the largest firms do - competency–based curriculum,
career paths, and just-in-time learning, and our own
custom DS learning center. !
- Allen DeLeon, Managing Partner!
32. One out of five organizations has discovered a secret
source of competitive differentiation. It allows them to
serve customers in new ways and reimagine their
business models. It can help surface valuable insights
from their data and transform how they make
decisions. It enables them to tap expertise from across
their entire ecosystem.And one more thing: It helps
these Pacesetters grow revenue and gross profit faster
than other organizations.What’s their secret?
It’s cloud computing -– their engine for growth.
Source: IBM Report – Under Cloud Cover – How Leaders are
Accelerating Competitive Differentiation
33. The cloud as competitive
advantage?
1. Increased Revenues (Growth)
2. Increased Profitability
3. Increased Retention (and
recruitment)
4. Flexibility and Agility
5. Collaboration and Innovation
34. Our Digital Transformation
Strategy
1. Digitization workflow –shifting
resources and systems to growth
areas
2. Virtualization – Moving IT
infrastructure to cloud
3. Transformation to cloud – Increase
use of existing systems of
engagement
4. Transformation to cloud – New
cloud based systems – accounting
5. Transformation to cloud – Move
AMS and MACPA website
35. The Cloud – 5 things you can do
1. Expand offerings and move toward
higher value-added services, such as
strategic business, tax, and financial
planning.
2. Develop technology skills to connect
systems together from multiple
vendors.
3. Use and recommend collaborative
accounting technologies to broaden
and deepen client engagements.
4. Educate staff on technology solutions
and adopt a set of recommended
products for clients.
5. Be proactive with engaging clients in
strategic technology planning.
43. Disruption and RONI
The gap is widening, faster!
Source: Clayton Christensen, “Innovation Killers”
44. Your clients want the “new you”
“I need you, but I
don't need the old
you. I need a new you
who understands the
transformation I’m
going through as your
customer. If you don’t,
you're out of touch.”
- Dan Burrus futurist
http://cpa.tc/1pt
46. The Three T’s – Technology, Talent Time
What would Rita say?
Rita McGrath, Columbia Business School!
Author – End of Competitive Advantage!
“How
would
you
think
differently
about
your
strategy
if
you
knew
your
advantage
might
not
last?”
47. 5 Ways to Thrive in the
Shift Change
1. Purpose Vision
2. People (ROP)
3. Collaboration Engagement
4. Strategy Alignment
5. Technology (RONI)
48. What do we need to do about it?
Imagine if we create a sustainable leadership culture in which
everyone is engaged to accelerate the great vision and
mission we have. Imagine a room in which introverts and
extroverts create an innovative, multicultural plan to help
us reach our goals.
51. Tom
Hood,
CPA.CITP
CEO
Maryland
Associaon
of
CPAs
Business
Learning
Instute
(443)
632-‐2301
E-‐mail
tom@macpa.org
Web
hQp://www.macpa.org
hQp://www.blionline.org
‘Blog
hQp://www.cpasuccess.com