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How to get ready for the fast future - #CCHUC15

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Are you ready for the Fast Future?
We have entered a period of exponential change. Recent research from the AICPA says that the business environment for CPAs and their clients will be characterized by “unprecedented, massive and highly accelerated change” through 2025. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency–how to accurately anticipate the future. This session will show how to anticipate these trends and move from being a crisis manager to an opportunity manager. At the end of the session participants will set actionable steps to elevate and accelerate their organization’s strategy.

Presentation at the Wolters Kluwer CCH Users Conference in Las Vegas

Veröffentlicht in: Business

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How to get ready for the fast future - #CCHUC15

  1. How$to$Get$Ready$ for$the$Fast$Future$ Tom$Hood,$CPA,$CITP,$CGMA$ CEO$ MACPA$&$BLI$ @tomhood$
  2. How to Get Ready for the Fast Future By:Tom Hood, CPA, CITP, CGMA @tomhood
  3. Vote for a question Respond to Poll Ask a Question MACPA.CNF.IO Select your session and join the conversation:
  4. Download today’s slides at … www.SlideShare.net/thoodcpa
  5. What would Rita Say? Rita McGrath, Columbia Business School Author – End of Competitive Advantage “How$would$you$think$differently$about$your$ strategy$if$you$knew$your$advantage$might$not$last?”$
  6. www.blionline.org Source: CPA.COM Insight into the CPA of the Future Study 2014 Only 8% of CPAs are Future Ready Future Ready is the capacity to be aware, predictive, and adaptive of emerging challenges, tech innovations, and trends and changes in business, population, and social environment.
  7. Gradual then Sudden
  8. Gradual then Sudden
  9. More Uber cars than yellow taxis on the road in NYC
  10. AirBnB Rooms available surpasses Hilton & Marriott
  11. Two of the world’s biggest oil and gas groups are set to deploy artificial intelligence software to do the work of back-office accountants and call- centre workers, in the latest sign that white- collar jobs could be under threat from the rise of smart machines.
  12. Will your job be done by a machine? Source: NPR Planet Money, May, 2015
  13. In the next five years we will TRANSFORM How we market, sell , communicate, collaborate, innovate, and educate – Dan Burrus
  14. Clients and Employers want CPAs to offer PROACTIVE advice and insights that are actionable about the future!
  15. Five Cs to be Future Ready 1. Context 2. Certainty 3. Capacity 4. Competence 5. Core Beliefs
  16. Context
  17. 'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch
  18. Certainty
  19. Start With Certainty & Find Opportunities www.blionline.org/ao
  20. Cloud computing trends Source: Sage North America of small businesses are demanding cloud-based computing 61% Only 10% of CPAs using cloud to work with clients!
  21. EXERCISE your Turn Identify one hard trend impacting your organization: Regulatory Technology Demographic Then one BIG opportunity related to it! EXAMPLE Demographics: 80 percent of the people in our field will be retiring since they are Baby Boomers Focus on hiring more young, innovative people who will think out of the box. Create a process for the people who are retiring to help the younger people by sharing their knowledge and successes as well as their failures."
  22. Capacity
  23. Cloud computing trends Source: Sage North America of small businesses are demanding cloud-based computing 61% Only 10% of CPAs using cloud to work with clients!
  24. OPPORTUNITY Technology’s impact on firm service lines • Efficiencies • Innovation • Efficiencies • Innovation • Transformative • Revenue Growth New Opportunities Emerging Dramatic Change Audit Tax Accounting services Source:AICPA Spring Council 2015
  25. Competency
  26. 30 1,000 75,000
  27. www.blionline.org
  28. ANTICIPATION( Strategic$Thinking$ External$Awareness$ Vision$ ConOnuous$Learning$ InnovaOon$ CreaOvity$ Problem$Solving$ PrioriOzaOon$ Business$Acumen$ Decisiveness$ Influencing/Persuading$ EmoOonal$Intelligence$ Consensus$Building$ CollaboraOon$ InspiraOon$ Risk$Management$ Anticipation –The Critical Competency •  Anticipating and reacting to the nature and speed of change. •  Acting decisively without always having clear direction and certainty. •  Navigating through complexity, chaos, and confusion. •  Maintaining effectiveness despite constant surprises and a lack of predictability. Source: Conference Board Global Leadership Forecast 2015
  29. Core Beliefs"Protect the Core and Stimulate Progress
  30. 15X
  31. 6 – 8 – 4 Hard is Soft. Soft is Hard.
  32. Creating the Magnetic Firm Purpose Driven Great Leadership Culture Of Growth Inspiring Workplace Vision, Purpose and Values based Transparent and Inspirational Leadership Learning Culture - Self and Formal Development Flexible and Open Work Environment Focus on Strengths and Positivity Build Consensus and Commitment Career & Growth Orientation – Career Paths Work/Life Balance Inclusive and Diverse Leadership Development at all levels Customer focused Coaching and Feedback High Performance – Insight to Action Anticipatory and Proactive Collaborative and Team based EffectiveTechnology Tools - mobile
  33. BLI(8,S(Model$ Strategy Staff Skills Structure Style Systems Shared Vision Shared Beliefs www.blionline.org$
  34. Trust Integrity Objectivity Excellence Lifelong Learning Protect the Core AND Stimulate Progress When everything is changing, know what should not change…
  35. A Clarion Call to Get Out of Our Box(es) Leave me alone! I spent thirty years building this box.
  36. CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by: •  Communicating the total picture with clarity and objectivity; •  Translating complex information into critical knowledge; •  Anticipating and creating opportunities; •  Designing pathways that transform vision into reality. Source:AICPA: CPA Horizons 2025 Report
  37. http://www.blionline.org/ao
  38. And one more thing…
  39. Why you won’t do any of this 1. Not enough time. 2. Being reactive versus proactive. 3. Doing more with less. 4. Information overload (standards and regulations). 5. Managing change.
  40. Disruption and RONI" The gap is widening, faster! Source: Clayton Christensen, “Innovation Killers” We think this is trade-off
  41. Calendar -The No. 1 App Spend just one hour per week in the future…
  42. Tom Hood, CPA, CITP, CGMA CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2015 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/ Hood's&greatest&a,ribute&isn't&that&he&consistently& glimpses&the&future&more&quickly&than&the&rest&of&us& (though&he&does).&It's&that&he's&able&to&bring&it&back&to& the&present&and&serve&as&its&?reless,&inspiring&and& effec?ve&champion.&&&&&&&&&&&&&&&&&&&&– Accounting Today
  43. http://www.blionline.org/ao
  44. Scan for CPE 52$
  45. Par$cipant*Polls* CCHUC15* Tom*Hood,*CPA,*CITP,*CGMA* CEO* MACPA*&*Business*Learning*Ins$tute* @tomhood*
  46. Genera$on*
  47. Biggest*Challenges* 1.  Succession*&* Talent* Development* 2.  Being*reac$ve*vs* proac$ve* 3.  Recruitment*&* reten$on* 4.  Managing*change* 5.  Not*enough*$me* 109*responses*
  48. Top*Skills* 1.  Communica$on* 2.  Inspiring*and* mo$va$ng*others* 3.  Strategic*&*Cri$cal* Thinking* 4.  An$cipa$ng*and* serving*evolving*needs* 5.  Influencing*and* persuading*others*
  49. Biggest*Challenges* 1.  Succession*&*Talent* Development* 2.  Recruitment*&* reten$on* 3.  Being*reac$ve*vs* proac$ve* 4.  Not*enough*$me* 5.  Managing*change* 85*responses*
  50. Top*Skills* 85*responses* 1.  Strategic*&*Cri$cal* Thinking* 2.  Communica$on* 3.  Inspiring*and* mo$va$ng*others* 4.  An$cipa$ng*and* serving*evolving*needs* 5.  Change*leadership*
  51. Top*Challenges*Facing*Your*Firm* 85*responses* 1.  Recrui$ng*top*talent* 2.  Engagement*of*our* people* 3.  Workload* compression* 4.  Reten$on*of*top* talent* 5.  Business* development*and* growth*
  52. http://www.blionline.org/ao
  53. Tom Hood, CPA, CITP, CGMA CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2015 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/ Hood's&greatest&a,ribute&isn't&that&he&consistently& glimpses&the&future&more&quickly&than&the&rest&of&us& (though&he&does).&It's&that&he's&able&to&bring&it&back&to& the&present&and&serve&as&its&?reless,&inspiring&and& effec?ve&champion.&&&&&&&&&&&&&&&&&&&&– Accounting Today

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