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

Hiep Thien Trinh ()
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Hiep Thien Trinh: University of Economics Ho Chi Minh City, School of Accounting

A chapter in Proceedings of the International Conference on Emerging Challenges: Strategic Adaptation in the World of Uncertainties (ICECH 2022), 2023, pp 162-179 from Springer

Abstract: 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.

Keywords: Business agility; Chief financial officer (CFO); Covid-19; Delphi method; Postcrisis management (search for similar items in EconPapers)
Date: 2023
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DOI: 10.2991/978-94-6463-150-0_12

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