Research On CFO Growth Path Of Chinese Enterprises Based On Competence

The CFOs have been a considerable group in today's economic life and playing an increasingly important role in business management and global economic development.China has a large number of financial personnel,but the competent CFO is still lacking.At present,there are no domestic scholars systematically studying the growth of the CFO.The study of the top talent growth path provides some reference.The CFO's responsibilities and competency are more fully studied,but the competency framework has not been agreed and lacking of dynamic research.Therefore,on the basis of determining the competence of CFOs,studying the CFO's growth path will not only help deepen the research on competency,but also help newcomers in the workplace to grow as quickly as possible,and provide references for individuals who are in the bottleneck of professional development.Based on this,in order to clarify the research object,this paper first defines the CFO as the first person in charge of the financial department that carries substantive job responsibilities in a certain scale of enterprises.Then,combined with literature research and case studies,the CFO competency framework was remodeled,and the onion theory was used to build a competency model.The capability elements were analyzed in depth.This paper believes that the individual's quality,management ability,professional ability,and knowledge are four levels of competence.Individual quality is the internal driving force that drives a person to form explicit knowledge and ability.Knowledge is the foundation of acquiring ability and needs to be acquired through learning.The growth of competence is the result of the sublimation of knowledge after it has been applied to practice.For a competent CFO,management ability is more critical than professional ability.Thirdly,analyze the CFO growth cases of enterprises,sum up the key growth experiences of CFOs,build initial growth paths,summarize path units,and divide CFO growth into preparation phase,entry phase,stable development phase,management leap phase,competency phase,and recession such six stages of continuous development.Finally,matching the competency with the path unit,this study put forwards four growth path model:(1)People who start at basic position of corporate finance and accounting,going through the positions of chief accounting,financial manager,deputy director,etc.and finally turning into a CFO);(2)People from the junior auditor of the firm to the senior auditor or manager to the company as the supervisor or manager until the CFO,or after working for a certain period of time,go to the firm and other institutions to hold positions and return to the company Gradually promoted to CFO;(3)Investment managers or partners from investment banking firms,partners “airborne” to companies as CFOs;(4)people who hanv non-financial-related professional background become CFO through their own efforts.Then this paper proposes relevant strategies for the CFO growth path.Finally,we summarized the research conclusions and look forward to future research.