Strategy Trumps Finance

As CFOs in any industry can attest, you have to make sure you get the numbers right. If you don't--thanks to Sarbanes-Oxley--the penalties can be intense, including jail time if you happen to work for a public company. But as Spectrum Health CFO Michael Freed says in this audio interview, strategy trumps finance. To be effective in modern times, a CFO has to develop a financial plan that helps the CEO achieve the goals he's outlined in his strategy. To the extent he or she can, Freed says, the CFO's job is to give the CEO enough time and warning to adapt his or her strategic plan to fit the financials. I hope you'll enjoy this enlightening clip from a trusted adviser of mine.