The Five Change Forces in the Evolution of Corporate Finance Function

Andrej Bertoncel Violeta Bulc
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Andrej Bertoncel Violeta Bulc: Institute for Business Growth and Creativity, Ljubljana, Slovenia

Zagreb International Review of Economics and Business, 2007, vol. 10, issue 1, 99-112

Abstract: The evolution of business systems consists of four key phases: the working, learning, thinking, and conscious phase. It seems that all four phases represent independent cycles. However, a closer look at the leading elements for added value creation (labour efficiency, knowledge, creativity, intuition) and the winning factors (productivity, quality, innovation, and life energy) at each phase reveals their close interrelation and interdependency. This paper reveals the model of five change forces of business transformation and their impact on financial subsystem. While leaders play a vital role in the evolution process of the company as a whole, the CFO is at the forefront of transformation of the financial subsystem.

Date: 2007
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