Strategic Inflection Points, Einstein, and Learning in the CPA Profession

Tom Hood, CPA, CITP, CGMA CEO

MACPA Business Learning Institute

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The End of Business?

Source:  Brian  Solis  author  of  The  End  of  Business  as  Usual  

Survival  is  not  mandatory  

Are we at a Strategic Inflection Point?

“The point in the life of a business [or an industry] when its fundamentals are about to change. The change can mean an opportunity to rise to new heights. But it may just as likely signal the beginning of the end.” - Andy Grove – Former CEO of Intel Corporation

Are we at a Strategic Inflection Point?

“Strategic inflection points can be caused by technological change but they are more than technological change. They can be caused by competitors but they are more than just competition. They are full-scale changes in the way business is conducted, so that simply adopting a new technology or fighting competition as you used to is no longer sufficient. They build up force so insidiously that you may have a hard time even putting your finger on what has changed, yet you know something has.”

Are we at a Strategic Inflection Point?

“[It’s that time] when something is changing in a big way, when something is different, yet when you are so busy trying to survive that the signals of change only become clear in retrospect.”

30 Future Forums 1,000 CPAs Identified these top trends

What CPAs think about the future

http://www.bizlearning.net/live/i2afutureforums

• Change  • Complexity  • Compliance  • Convergence  • Compe==on  

MANAGING  THE  SEA  CHANGE  

Sinek’s Golden Circle

Conven=onal   Remarkable  

Training as a Competitive Edge In a world of unrelenting change, about the only sustainable advantage is learning. Competitors can copy your products, duplicate your technology, and replicate your processes, but as long as your organization is learning faster than theirs, you will always remain ahead.”

David Garvin – Harvard Professor

Do you hear me Mcfly?

Because our members told us! 2x!

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Superior Talent Generates Results!

& Superior Learning Strategy Generates Superior Talent

ü  26% higher revenue per employee ü  40% lower turnover among high

performers and 17% overall ü  29% higher level of engagement ü  36% higher readiness in leadership

and management

ROP = Return on People

Training and development is the most highly valued employee benefit. The number choosing training and development as their first choice of benefit is three times higher than those who chose cash bonuses.

PWC Report - Managing tomorrow's people: Millennials at work: Perspectives from a new generation

Benefits to organizations

Why executives should care about Employee Engagement

Gallup studies proved that corporations with higher engagement levels generated: •  27% higher profits •  50% higher sales •  50% higher customer loyalty •  38% above average productivity “Employee Engagement is an outcome-based concept. It is the term which is used to describe the degree to which employees can be ascribed as aligned and committed to their organization such that they are at the most productive.”

-The International School of Human Capital Management

ROI = ROP

ROP = ROA x ROC x ROL

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Customized to meet your firm Competencies and aligned with your strategy

The collaboration curve replaces the experience curve

• “The organizations that will become the household names of this century will be renowned for sustained, large-scale, efficient innovation.

• The key to that capability is neither company loyalty nor free-agent autonomy but, rather, a strong collaborative community.” • HBR, July-August 2011

Nowadays, no company is too big to fail or too small to succeed.

Simply knowing your customer is one thing. But, understanding how they make decisions and participating in that process influences behavior while building meaningful relationships. Regardless of technology, the future of business isn’t created, it’s co-created. To succeed, it takes a culture of customer-centricity and the ability to recognize new opportunities and adapt based on what they present.

– Brian Solis

Every challenge is a frustrated opportunity

"Average organizations put their best people on problems," McGrath said. "Exceptional organizations put their best people on opportunities."

Tom  Hood,  CPA.CITP  CEO  

Maryland  AssociaAon  of  CPAs  Business  Learning  InsAtute  

(443)  632-­‐2301  E-­‐mail  tom@macpa.org  

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