Balancing Risk And Performance With An Integrated Finance Organization: Implications For Chemical And Petroleum Industry Cfos
In the globally interdependent marketplace, Chemical and Petroleum (C&P) organizations need to deliver consistently strong growth and big profits. They need to be adaptable to change and seize the opportunities, but they also need to be especially resilient to risk. Many companies let their business units and geographies conduct Finance activities according to specialized standards and provincial preferences. But, according to the IBM Global CFO study 2008 (CFO study) of more than 1,200 cross-industry CFOs and senior Finance professionals, including 51 C&P executives, this is often ineffective. This paper presents the implications for C&P CFOs.