Leaders on Leadership

Integrity is a matter of survival; governance reform, though helpful, is not enough; and trust must be earned, not assumed. That's the consensus among U.S. corporate leaders steering their organizations forward in the wake of recent scandals. Business Finance asked leaders in various industries to describe the challenges their companies are facing and the steps they will take to meet them.

Donniel Schulman

Partner and Global Leader, Financial Management SolutionsIBM Business Consulting Services

Survival is the most significant challenge facing today's business.

Each company must take a closer look within. Companies have pared their costs to better align with reduced revenue expectations. To ensure profitability, they must become even more responsive by transforming many historically fixed costs to a variable, on-demand, utility model. Today's best finance solutions help by weaving technology and process to optimize returns from fixed investments and employees.

Survival is equally dependent on gaining and maintaining shareholder trust, recently undermined by corporate scandals. Laws passed by Congress can only be enforced if embraced by each individual within the organization. Ultimate accountability must lie with the CEO and CFO.

Leanness, responsiveness and endurance ultimately ensure survival. The business pace has dramatically increased, and competition has become fiercer. Leaders must make extraordinarily rapid and accurate decisions, quickly assess their impact, and make real-time adjustments to lead their organizations through today's survival challenge.