So What Is Financial Business Analysis Done Right - Part 3
The Elevator Speech Version
Financial Business Analysis Done Right is taking place when all members of the Finance Business Analysis Team are viewed as high-performing, value-adding, Strategic Business Partners by the rest of the business and functions (and most likely Suppliers, Customers, Boards and other Stakeholders).
Yes, That Sounds Nice John...But What Is a Strategic Business Partner Then?
A Strategic Business Partner is someone who has a full earned seat at the table (at whatever level they are in an organization) and is fully relied on by peers and bosses in theirs and other functions to help them make great business decisions and understand what the numbers say about the business and how their actions translate to financial outcomes.
They master and combine (6) key characteristics:
They are good Business Partners
They are P&L / Balance Sheet Experts
They are Effective “Translators”
They are focused on Project Delivery
They are People- and Thought-Leaders
They possess a Detail Orientation
Yes, And What Outcomes Do Strategic Business Partners Achieve?
Besides the obvious great business results that a Strategic Business Partner helps their organization to achieve?
There are five (5) other key outcomes achieved:
They have high Impact
They enjoy great Success
They earn Reward
They experience Personal Growth
They experience Career Growth
Financial Business Analysis Done Right –
The Framework
Summary:
When Financial Business Analysis is Done Right, the people doing it are high-performing Strategic Business Partners
Strategic Business Partners master and combine 6 key characteristics:
Business Partners
P&L/Balance Sheet Experts
Effective “Translators”
Project Delivery
People- and Thought-Leaders
Detail Orientation
Strategic Business Partners realize 5 key outcomes:
Impact
Success
Reward
Personal Growth
Career Growth
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Up Next:
In upcoming blog posts I will elaborate on the 6 key traits of and 5 key outcomes achieved by Strategic Business Partners. And then I will tie them together and start to address how you figure out where you or your organization are at and then how to go from there to achieving Financial Business Analysis Done Right!
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