Once upon a time, not too long ago, FDs were able to influence their companies’ financial status and the strength of their balance sheets
The board made decisions armed with a clear understanding of the consequences for the company’s financial welfare. But, for now, that control over the outcome appears to have vanished.
In our latest survey of the CFOs of major UK companies, we asked FDs to share with us their single biggest concern for their business in 2009. The responses fell overwhelmingly into two categories - 55% cited a shortage of credit or liquidity, while 45% saw a weak economy as the biggest problem for their business.
The results clearly indicate that FDs think the biggest challenges they face in 2009 are external (i.e. outside their control), lying in the financial and economic environment, rather than within their business or sector.
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