macpa piu 2011 - focus on the future
DESCRIPTION
Short version of MACPA's popular PIU (Professional Issues Updates) which is part of our 24 hour free CPE offerings to members.This slide deck covers the mega-trends and issues beyond the technical updates identified in the CPA Horizons 2025 Project. It covers leadership in the future and updates the original CPA Vision 2011 ProjectTRANSCRIPT
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Professional Issues UpdateLeadership in the New Normal
1
Today You Can See TomorrowThe Future of our Profession is just
over the Horizon
Tom Hood, CPA.CITPMaryland Association of CPAs
Business Learning Institute
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“# 1 reason organizations fail is that they miss the weak signals of disruptive change.”
– Andrew Zolli
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4x=18907x=1670
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Why we are here?
The tornado of changes from CPA Vision Project circa 2000
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We can choose to harness the winds of change
The tornado of changes from CPA Vision Project circa 2000
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From feeling “lonely at the top”
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To the wisdom of the crowd
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What CPAs have said abut the future:
1. Changing demographics - Aging workforce, diversity, 4 generations in the workplace
2. Increased globalization, economic shifts and increasing competition3. The technological revolution - cloud, social, big data & XBRL4. Issues around Information Security, Privacy & data integrity5. Shift to consumer and employee power (from push to pull)6. Changes in the way we communicate - mobile, txt, skype7. Work-life challenges or conflict - "do more with less", 24/7 work8. Information Overload - filter failure9. Increasing complexity of rules and standards (IFRS, GAAP, PCAOB,
SEC)10.Economic uncertainty - deficit, debt and pressure on government
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American Institute of CPAs
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"It starts with the fact that globalization and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected.”
- Thomas Friedman NY Times author
The World is Flat
The single most important trend in the world today
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Four Generations in the Profession
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The generation gap is widening
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My take on generations
• Major issue that needs to be dealt with• Mutual understanding and communication – bi-
directional not one way• Accept differences and find the opportunities• X & Y are about time Boomers are about
relationships• Reverse mentor on technology and
communication• Engagement & participation are key
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LeadershipIs this working for you?
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American Institute of CPAs
How is leadership changing?
“What got you here won’t get you there.” – Emmanuel Gobillot - Leadershift
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From: Command & Control
To: Connect & Collaborate
Leadership is Connect & Collaborate!
From: Push
To: Pull
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What hasn’t changed about leadership?
• Engagement• Alignment• Commitment• Accountability
“First I get all of my men facing the same direction.”- Napoleon
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As knowledge moves from stocksto flows, how do we stop our inventory
from becoming obsolete?Answer: The Collaboration Curve
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Finding Your Edge…
• Strategic thinking – all of the time
• Keep your L >= C• Make your thinking
visible to others • The power of We –
Collaboration• Innovate by finding your
edge (Strengths,, Opportunities, Positivity)
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A leader’s job is to…
Provide hope & inspiration!
Tom Hood & Gretchen Pisano
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Tom Hood, CPA.CITPCEO
Maryland Association of CPAsBusiness Learning Institute
(443) 632-2301E-mail [email protected]
Web http://www.macpa.orgBlog http://www.cpasuccess.comhttp://www,bizlearningblog.com
CONNECT – PROTECT - ACHIEVE