Trust and collaboration essential for integrated thinking and decision making

Dubai, UAE, October 5, 2016:  Among high performing organisations, 43% say their level of trust in fellow executives needed improvement and 57% said more active collaboration was required to improve decision making, according to the ‘Joining the Dots: Decision making for a new era’ report from the Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA).  

Sharing further insights on the report and its impact on current business practices was Charles Tilley, OBE, FCMA, CGMA who recently hosted a session on ‘Rethinking the Business Model’ for CIMA members, students and industry professionals in the UAE.

Charles Tilley, FCMA, Executive Chairman of CGMA Research Foundation commented: “Leaders need to think in an integrated way. This means having a clear and defined business model and relating all decisions back to it; quickly gathering and analysing all relevant information from all parts of the business; and focusing on key performance indicators rather than gut instinct or hearsay.”

As the torchbearers of the organisation, it is critical that the business leaders foster an environment built on trust, teamwork and one that places value at the heart of the organisation.   

Geetu Ahuja, Head of Middle East, North Africa and Pakistan, CIMA said: “Today business performance can no longer be measured simply through traditional accounting measures. Communication being the critical link, finance professionals are well-equipped to play a critical role in connecting the right information with the right people to achieve a competitive business advantage.”

Charles Tilley OBE, FCMA, CGMA is Executive Chairman of The CGMA Research Foundation, which focuses upon Management Accounting thought leadership including developments in external and internal reporting, performance management, and the development of the finance function. Prior to this role Charles was the CEO of CIMA, a position he held for 15 years.  For his positive leadership and achievements in promoting the importance of management accounting, Charles was recognised in the 2016 New Year’s honours list and awarded the Order of the British Empire (OBE) for services to the economy.