macpa piu 2011 - focus on the future

Professional Issues UpdateLeadership in the New Normal

1

Today You Can See TomorrowThe Future of our Profession is just

over the Horizon

Tom Hood, CPA.CITPMaryland Association of CPAs

Business Learning Institute

“# 1 reason organizations fail is that they miss the weak signals of disruptive change.”

– Andrew Zolli

4x=18907x=1670

Why we are here?

The tornado of changes from CPA Vision Project circa 2000

We can choose to harness the winds of change

The tornado of changes from CPA Vision Project circa 2000

From feeling “lonely at the top”

To the wisdom of the crowd

What CPAs have said abut the future:

1. Changing demographics - Aging workforce, diversity, 4 generations in the workplace

2. Increased globalization, economic shifts and increasing competition3. The technological revolution - cloud, social, big data & XBRL4. Issues around Information Security, Privacy & data integrity5. Shift to consumer and employee power (from push to pull)6. Changes in the way we communicate - mobile, txt, skype7. Work-life challenges or conflict - "do more with less", 24/7 work8. Information Overload - filter failure9. Increasing complexity of rules and standards (IFRS, GAAP, PCAOB,

SEC)10.Economic uncertainty - deficit, debt and pressure on government

American Institute of CPAs

"It starts with the fact that globalization and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected.”

- Thomas Friedman NY Times author

The World is Flat

The single most important trend in the world today

Four Generations in the Profession

The generation gap is widening

My take on generations

• Major issue that needs to be dealt with• Mutual understanding and communication – bi-

directional not one way• Accept differences and find the opportunities• X & Y are about time Boomers are about

relationships• Reverse mentor on technology and

communication• Engagement & participation are key

LeadershipIs this working for you?

American Institute of CPAs

How is leadership changing?

“What got you here won’t get you there.” – Emmanuel Gobillot - Leadershift

From: Command & Control

To: Connect & Collaborate

Leadership is Connect & Collaborate!

From: Push

To: Pull

What hasn’t changed about leadership?

• Engagement• Alignment• Commitment• Accountability

“First I get all of my men facing the same direction.”- Napoleon

As knowledge moves from stocksto flows, how do we stop our inventory

from becoming obsolete?Answer: The Collaboration Curve

Finding Your Edge…

• Strategic thinking – all of the time

• Keep your L >= C• Make your thinking

visible to others • The power of We –

Collaboration• Innovate by finding your

edge (Strengths,, Opportunities, Positivity)

A leader’s job is to…

Provide hope & inspiration!

Tom Hood & Gretchen Pisano

Tom Hood, CPA.CITPCEO

Maryland Association of CPAsBusiness Learning Institute

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

Web http://www.macpa.orgBlog http://www.cpasuccess.comhttp://www,bizlearningblog.com

CONNECT – PROTECT - ACHIEVE