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Mixing Innovation with Finance Crucial for Today's CFO

Mixing Innovation with Finance Crucial for Today's CFO

In a new book titled "The Innovator's DNA," author Hal Gregersen explains that any person can learn the ability to become more innovative, a quality that is becoming increasingly important for financial executives around the world. reports that Gregerson and his co-authors studied the characteristics of more than 5,000 executives and assessed their "discovery skills," which are typically associated with strong innovators. Connecting ideas from seemingly unrelated sources, experimenting and being inquisitive were all aspects of these abilities, the author explained.

The necessity for CFOs to utilize these skills is highlighted in the large number of recent surveys and reports that point to financial bosses taking on more human resources and strategic responsibilities, which can also help pave the way for future promotions to the CEO level.

However, financial executives - as would be expected - were still found in Gregersen's study to be more "delivery-oriented," meaning they excelled in the planning to execution process. Though the significance of these abilities is clear, Gregersen says that discovery skills are becoming as important for financial bosses, reported

"When a CFO is sitting with the chief marketing officer and the chief operations officer, he’s there to have a functional perspective, which is finance, but if that’s the only language he speaks, his influence within that senior management team is going to be quite limited," Gregersen told the publication.