Bohemia, NY (PRWEB) January 09, 2014
Lawrence Teicher, founder of CFO Consulting Services and leading Long Island CPA, comments on an article published by CFO.com on December 27, which discusses how CFOs must take responsibility when it comes to molding a company’s culture.
According to the CFO.com article titled “How to Engender a Performance Culture,” a new survey conducted by the Katzenbach Center at Booz & Company found that only half of businesses achieve transformation goals they set at the beginning of the year. One of the biggest reasons for failure is the lack of effort in reformatting company culture. The article reports that 84 percent of business owners said office culture was “critically important to business success.” However, “less than half said their company does a good job at managing culture.”
Lawrence Teicher, founder of CFO Consulting Services and leading Long Island CPA, says most business owners don’t believe company culture is a priority. “Most CEOs and CFOs concentrate on the profits and the cash flow,” he says. “When businesses are in transition, the main focuses are how to make more money or cut costs. However, company culture can play a huge role in these initiatives as well. Having happy employees helps a great deal. It can increase performance and productivity, which can ultimately affect profit gains.”
If most business owners say they think company culture is important, Teicher says they need to make it a priority. “Business owners need to start making changes to improve culture,” he says. “And it’s not just up to the CEO. CFOs play a big part in the process. It’s up to them, as leaders, to guide decisions in transforming company culture. A big part of this effort needs to be continuous communication regarding the Company’s goals and building trust.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.