PB Technologies: Proposed Criteria for Selecting New Chief Finance Officer (Research Paper Sample)

PB Technologies: Proposed Criteria for Selecting New Chief Finance Officer
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PB Technologies: Proposed Criteria for Selecting New Chief Finance Officer
Section I
Introduction
Background Information
A publicly-traded company, PB technologies is a medium-sized technology company that prides itself in addressing other companies’ technological and integration problems. The benefits offered to other companies include better data management, accelerated growth due to faster integration, improved productivity, and better communication while maintaining an all-in service module. For instance, one of the recent activities the company undertook involved networking servers for categorical sections for a client, providing PCs and Macintoshes, and offering a better integral and networked computing solution. The services ensured that the client was saved several thousand dollars characterized by data redundancy.
The Challenge
Over the past five years, the company continues to experience exponential growth rates of over or just at expected company average expectations. While the growth rate is ideal for the company’s growth, it presents unparalleled challenges to the general output of the company’s internal performance thus posing imminent managerial and operational challenges. Specifically, deferments of a series of financial decisions have created a vacancy in the position of chief financial officer. Second, the explosive growth witnessed in the company has created unhealthy competition among dominant departments leading to a variation in marketing programs and pricing incentives from each relevant division. Therefore, there is an immediate need among board members to provide a viable solution that addresses most if not all of the challenges faced by PB Technologies.
Proposed Solution
A team consisting of senior members of PB technologies is tasked with the mandate to recommend a new Chief Financial Officer for PB technologies from a shortlist of three candidates who made it to the final vetting panel. With information on the shortlisted candidates, the team is to empirically select the most fitting candidate for the position with the primary aim of channeling the company towards a better output, through strengthening both internal ties and coordination and outward growth. Hence, the company objectives are hereby outlined to inform the decision on the selection of a subsequent CFO.
PB Technologies Objectives
Disclaimer: While the following does not reflect the overall company objective/s, the criteria are particularly critical in selecting the new Chief Financial Officer because they shall ensure the company moves forward in growth and avoids similar future problems.
Hence, the new Chief Finance Officer should;
* Have extreme technical knowledge about the computer industry, its future, and room for growth, and pay close attention to detail even the most mundane of details about the company’s sales operations. Specifically, they should have key details on marketing strategies, pricing, and sales incentives available for the PB clients, both current and potential to ensure effective advice and direction the company should take.
* Have a total organizational perspective that aims to foster unity in the company’s strategic plans. The criteria shall ensure a comprehensive, coherent, and specific marketing campaign is attained within the organization.
* Be able to make tough financial decisions while prioritizing financially sound operations. Also, the CFO should align their priorities to match the need for massive financial investments in both immediate and future technology investments that will help them stay ahead of competitors.
* Be in a capacity to help the company heal its internal wounds by harmonizing the internal relationships between both top management and intermediate management divisions, thereby fostering a sense of unity and togetherness.
* Be aware of the legal implications that may arise within the company and work within their capacity to ensure that internal disputes stay at the bare minimum, thus, ensuring the company stays at a fair or excellent interpersonal communication regardless of selected candidates.
Analysis
In an attempt to focus on the most critical criteria for choosing a future CFO, the company looks at the most important factors in deciding the potential new CFOs. The analysis is based on accounting and financial tasks that are oriented toward the company’s current business operations. The following list shows how each of the criteria will be evaluated.
Criteria Evaluation
The first criterion examines candidates’ education and experience in computer-related fields or related disciplines such as management, accounting, and information systems. Candidates with experience in the computer industry, such as stock trading and software development are preferred due to the rapidly evolving business landscape that relies on technological advancements to operate.
The second criterion shall focus on candidates’ mathematical skills—or lack thereof. Candidates without basic knowledge of calculus or statistics are not considered because they may lack the technical skills required to evaluate complex or basic analytical data and information.
The third criterion emphasizes candidates’ ability to take