Fore School of Management Hosts Global Leadership Lecture Series
Ajay Seth, CFO of Maruti Suzuki, discusses the evolving role of finance at Fore School of Management’s Global Leadership Lecture Series
The Finance and Accounting Area at Fore School of Management organised the third seminar under the Global Leadership Lecture Series. Ajay Seth, Chief Financial Officer & Member Executive Board of Maruti Suzuki India Limited, addressed the session and shared his thoughts on the evolving role of finance.
The rising expectations of management and board saw CFOs as a business partner to ensure that their final objectives and goals are being met. Standards have changed in terms of compliances and the number of compliances one has to adhere to. Businesses have become so dynamic that if a CFO does not give the right advice at the right time there can be a major fall in the profitability and revenue of the business.
To pursue an active role in finance, students have to go beyond the essential rules of finance. Students need to improve and invest in their soft skills. These include communication skills, developing leadership traits, having commercial and business acumen. Students also need to invest in technical skills – develop software skills, learn about regulatory compliance, have in-depth knowledge of reporting standards, develop analytical skills – especially Business Intelligence and Data Analytics.
Ajay Seth concluded the session by discussing the necessary components that companies need to focus on to establish value. Environmental, Social, and Governance (ESG), is very important for companies. Consumers value a company that has a strong ESG practice. Components under ESG include CSR, Risk Management, controlling pollution and climate change, promoting anti-corruption, etc. Similarly, good corporate governance is important for long-term success. Components under corporate governance include broad independence and constitution, executive compensation, shareholder rights, etc.
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