My Perfect Position Chief Financial Officer

The Chief Financial Officer is among the top executives of a firm who is responsible for managing the financial risks the firm has. This position entails financial planning, record-keeping, data analysis and financial reporting to higher authorities mostly the chief executive officer or the board of directors.Advertising We will write a custom report sample on My Perfect Position: Chief Financial Officer specifically for you for only $16.05 $11/page Learn More I have worked for the company for fifteen years in the finance departments, five years as a financial officer. I believe with the expansion and restructuring taking place, I am well placed to fill this new position. This paper explains my various roles, qualifications and leadership styles that will benefit the company in this position. The position of a chief financial officer is a new opening with the company, it has resulted from the expansions and restructuring taking place within the company. This position entails the management of the company’s financial risks and evaluation of accounting and financing procedures it follows. I have worked as a financial officer for the company and in this paper I have explained my qualifications to justify my position.  This position requires the holder to posses a bachelors and a master’s degree in a finance related field, a Masters of Business Administration requirement, and a certified accountancy qualification. Apart from possessing the above requirements, my ten years experience with the company in the position of a financial advisor, placed me in a good position to understand the risks it faces. The major roles I carried out entailed maintaining accounts and updating financial policies of the company. In addition my roles extended to overseeing the company’s financial and accounting reporting systems, and taxing systems. In this field, I was responsible for preparing the tax reports, and discussing quarterly company reports with the board of directors for the company’s progress. Other roles entailed directing the company’s budget to meet its goals, overseeing the investment of funds and management of risks, supervising cash management activities, and executing capital-raising strategies for purposes of expansion and restructuring of the company. Working in this position exposed me to various leadership style models, one of them is Kurt Lewin’s leadership model based on Behavioral theories (Robbins Judge, 2007, p. 78). This model describes three forms of leadership styles, which are democratic, autocratic or laissez-faire (Yukl, 2006, p. 123). This leadership framework is dependent upon the team leader’s decision making behavior, when coupled with various situations.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The autocratic leadership style is where the leader s make decisions without even consulting or involving their teams. The team leader is the sole decision maker and every team member has to abide by the decision made by the team leader. This style is applicable where the leader is faced with situation that needs urgent solutions through quick decision making in which group decision making, will result into loss of time and may not be a successful outcome (Mintzberg, Lampel, Quinn, Ghoshal, 2003, p. 89). The autocratic leader provides a clear expectation of what he expects to be done by the group, how and when it should be done. The major weakness of this style is that it results into less creativity among team members, leads to bossy, controlling and dictatorial tendencies. The democratic leadership on the other hand involves allowing team participation by utilizing the input from each group member before making a final decision. This leadership style is viewed as the most effective as it offers guidance to group members and allows their participation and input (Mintzberg et al., 2003, p.189). The advantage of this style is that it involves group participation and makes the team members feel more motivated and creative, consequently leading to higher quality results. The disadvantage of this style is that it consumes more time in decision making and leads to less productivity.  The laissez-faire leadership style involves allowing people within the team to make many of their decisions on their own without any external influence. This delegate form of leadership is highly applicable and beneficial in situation where the delegates are highly qualified in the areas of professionalism.  The major weakness of this style is that it leads to group members making more demands to their leaders, being less productive, and this leads to poorly defined roles and lack of motivation among the team members. In conclusion, the leadership styles will determine the progress and profitability of the company. Each of the thre e styles autocratic, democratic, and laissez-faire, are applicable in different sections of the company, and if well implemented the running of the company will be more efficient and satisfying. References Mintzberg, H., Lampel, J., Quinn, J. B., Ghoshal, S. (2003). The strategy process: Concepts, contexts, cases (4th ed.). Upper Saddle River, NJ: Prentice Hall.Advertising We will write a custom report sample on My Perfect Position: Chief Financial Officer specifically for you for only $16.05 $11/page Learn More Robbins, S. P., Judge, T. A. (2007). Organizational behavior (14th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. Yukl, G. A. (2006). Leadership in organizations (7th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. 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