LSFL Management and Leadership in Finance

On trends in #business #management and #leadership in the financial sector by the Centre for Responsible Leadership in Finance and Tax Policy at @LSFL_ProfDev

[LSFL Management and Leadership in Finance @LSFL_Management]

Upskill your employees to help them stay competitive and adapt to changing job demands in the future.
View A-Z of LSFL courses in business management, finance, taxation and law: https://t.co/UldCpBcagd
Next term start date: 20 January 2025
#Business #Management #Careers #CPD #UK

[LSFL Management and Leadership in Finance @LSFL_Management]

Effective leadership in a hybrid world requires different skills that go beyond traditional team leadership.
Read more from MIT Sloan Management Review here: https://t.co/ALtfA1Yfvr
#Business #Management #Leadership

[Igor Buinevici @Igor_Buinevici]

Only 10% of managers are natural leaders.

This is how you can become a real leader:

Real leadership is not about showing off your power.

It’s about lifting others up.

It’s about making people feel seen, heard, and valued.

[George Stern @georgestern]

Real talk: It's time to stop calling these soft skills.

They're essential in every role,

And increasingly beat credentials and experience.

There's nothing soft about them.

Here they are - 15 essential skills every top performer needs:

[Adam Grant @AdamMGrant]

Dear managers: Raising productivity is not about monitoring people. It's about motivating them.

94 studies: Surveillance fails to improve performance—and increases stress, distrust, and dissatisfaction.

Tracking people is not a substitute for respecting and valuing them.

[Igor Buinevici @Igor_Buinevici]

Toxic employees can ruin your business:

This was evidenced by Harvard Research:

[McKinsey & Company @McKinsey]

Curious how the best leaders turn stories into strategy?

In the latest CEO Insights episode, McKinsey Senior Partner Joydeep Sengupta discusses how top CEOs use storytelling to unite teams, foster inclusivity, and lead with humility. https://t.co/4CM0xdLd0K

[Ray Dalio @RayDalio]

While I had always assumed that logical conversation is the best way for people to get at what is true, armed with this new knowledge about the brain, I came to understand that there are large parts of our brains that don’t do what is logical.

#principleoftheday

[London School of Finance and Law @LSFL_ProfDev]

Study “Financial Crime Risk Management, Regulation and Compliance” to learn about financial regulation and compliance and acquire practical tools of combating financial and corporate fraud.
More about the diploma: https://t.co/2BHcoPU33d
#Management #Finance #Taxation #Compliance

[Ray Dalio @RayDalio]

The main purpose of discussion is to achieve completion and get in sync, which leads to decisions and/or actions. Conversations that fail to reach completion are a waste of time. When there is an exchange of ideas, it is important to end it by stating the conclusions. If there is agreement, say it; if not, say that. Where further action has been decided, get those tasks on a to-do list, assign people to do them, and specify due dates. Write down your conclusions, working theories, and to-do's in places that will lead to their being used as foundations for continued progress. To make sure this happens, assign someone to make sure notes are taken and follow-through occurs.

#principleoftheday

[The Future of our Work @FutureOurWork]

Mastering presentation skills involves conveying ideas with clarity and conviction, engaging audiences with authenticity, employing compelling visuals, and maintaining a confident and composed demeanor.

#PersonalGrowth #Motivation #Communication

[American Psychological Association @APA]

Middle managers play a big role in the well-being of their employees.

Providing these managers with adequate training can help ensure they are well-equipped to support their employees and foster a psychologically healthy culture at work.

Learn more: https://t.co/yfizSDP1uz

[Adam Grant @AdamMGrant]

It’s possible to shorten the work week without losing productivity.

4-day week pilot for 15 months w/full pay:
-Performance improved or sustained on 22/24 measures
-Motivation & mental health climbed
-Turnover dropped by 39%

It's better to have 4 focused days than 5 distracted.

[LSFL Research in International Finance and Law @LSFL_Research]

Wang and Barabasi' book still available for free!
"Science of Science" nicely explained, for researchers, practitioners & the wider public.
By @dashunwang and @barabasi
Downloadable from OUP: https://t.co/c04lyHckh1
#Science #Research

[Anders Liu-Lindberg @LiuLindberg]

CFO challenges...
How are you managing your finance processes?

Answer: Build The Finance Process House.

It's an overview of all the core processes in Finance.

Here are the 21 core processes for CFOs to master:

1. Financial Planning & Analysis
2. Financial Reporting
3. Accounting
4. Treasury Management
5. Tax Management
6. Risk Management
7. Capital Allocation
8. Financial Systems and Technology
9. Cost Management
10. Financial Compliance
11. Strategic Financial Management
12. Financial Communication
13. Employee Benefits Management
14. Financial Policy Development
15. Vendor and Supplier Management
16. Financial Education and Training
17. Sustainability and ESG Reporting
18. Financial Analytics and Business Intelligence
19. Asset Management
20. Cash Handling and Banking
21. Regulatory Compliance

It's challenging to manage these on a high level.

Instead, divide each into subprocesses.

That's when you can start to develop process excellence.

Do you have a finance process house?

[TeachThought @TeachThought]

Critical thinking is the ongoing application of unbiased analysis in pursuit of objective truth. #criticalthinking

8 Of The Most Important Critical Thinking Skills https://t.co/KxKcY0tJBF

[Andrew Lokenauth @FluentInFinance]

10 finance movies you should watch this weekend:

1. The Big Short

[Adam Grant @AdamMGrant]

Not all disappointing outcomes are failures. Some lead to improvements in your process.

Success is about more than the results you achieve. It's also about the growth you attain.

Progress is more than how close you come to your goal. It's how far you've come from your start.

[Ray Dalio @RayDalio]

If you think about what you want most in your life in a big-picture, strategic way rather than a particular, tactical way, you can almost certainly get the life that suits you. On the other hand, if you are very particular and tactical you almost certainly will not get the life you want. That is because there are many paths to the life you want (and, in fact, to a better life than you can imagine) but not the exact path you have in your mind. That is because nothing goes exactly as planned and you aren't yet knowledgeable enough to be precise and single-minded in saying that you want to have exactly that.

By way of example, you can say "I want great work in a job where I can be creative, to have big beneficial impacts on others, to earn enough money to take care of my family and myself well, to have wonderful relationships with family and friends, and to live in a place I love”—and you can get those things if you are not stuck on exactly which job, which way you will be creative, which way you will have a big beneficial impact, how much money will be the right amount, which wonderful relationships you will have, and where you will live.

Said differently, if you know your preferences and feel the pulls toward those things that suit you—just like one finds the sports or activities that one loves and then pursues them—and you follow those pulls, you will learn more about what you like and don't like, what works and doesn't work, and what you are good and bad at, and that will keep you moving forward toward what you want most in life without being stuck and disappointed that you aren't getting exactly what you want. So my hope for you is that you will be open to the best you can find without being stubbornly stuck pursuing one precisely spelled out path, especially one that isn't getting you to your goals. In other words, don't be so particular that you close out better possibilities.

Also, I hope that while you are pursuing the life you want on whatever path you chose, you expect to fail and realize that, rather than a reflection of you being a failure, it is part of your learning process and that you should turn your failures into great learning experiences so that you acquire the skills and principles you need for dealing with your realities well. Also, as far as acquiring those skills, I don't mean that you have to learn to be good at them which would constrain you; I mean that you can get them from others you work well with. If you do those things, you can have a really great life of the sort you want, though it won't be exactly the life you imagine and it won't be perfect.

#principleoftheday

[LSFL Tax Policy and Law @LSFL_TaxLaw]

Study "Taxation: Corporation Tax" at LSFL!
View the course programme here: https://t.co/eD5jmXmYHp
#Tax #Taxation #CorporationTax #UK #TaxTwitter @LSFL_ProfDev @LSFL_TaxLaw @MyTaxesPlus