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The Power of Influence: Leadership

Strategies for the Extraordinary

Leader

Presented by :

Tom Hood, CPA.CITP CEO

Maryland Association of CPAs Business Learning Institute

IGAF Worldwide 2010 Women's Leadership Conference

IGAF Worldwide Headquarters CPA Island in Second Life

http://slurl.com/secondlife/CPA%20Island/53/217/21/?title=IGAF%20Worldwide%20on%20CPA%20Island

Are you an untouchable? A Washington lawyer friend recently told me about layoffs at his firm. I asked him who was getting axed. He said it was interesting: lawyers who were used to just showing up and having work handed to them were the first to go because with the bursting of the credit bubble, that flow of work just isn’t there. But those who have the ability to imagine new services, new opportunities and new ways to recruit work were being retained. They are the new untouchables.

What is the # 1 reason leaders (and their organizations) fail?

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What is different? 

Being in business today feels like being in permanent whitewater

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You feel overwhelmed by the rapid and turbulent pace of change and uncertainties in business today

Photo: Pratt’s surfing page

You need new skills and new approaches to ride these waves of change

You will learn how to lead in turbulent times and become a navigator of change using BLI's I2A - Insight to Action strategic thinking system

Sight  Insight  Create  Communicate  Inspire! 

Sight  Insight  Create  Communicate  Inspire! 

Today’s agenda • What is Leadership? • What about women & leaders? What the research says 

• The Five Qualities of Extraordinary Leaders • Toolkit & Practice  

Leadership = Influence 

the capacity or power of persons or things to be a compelling force on or produce effects on the actions, behavior, opinions, etc., of others 

You have our attention! 

What women need… 

• Confidence in their abilities • Getting over guilt • Assertiveness • Finding role models and asking for help • Having a support network  

Source: AICPA Women’s Initiatives Executive Committee

Some thoughts from my network 

My advice to women is that one of my insights is that the "strategic" process I use to think about my work is exactly the same process that works well at home, i.e., the 5 stages of if I2a and that is what allows me to "do it all" without completely losing my mind.  said tongue in cheek but with all seriousness.  ‐ Gretchen Pisano global consultant & co‐founder of I2A 

Some thoughts from my network 

The Centered Leader 

• Meaning • Managing Energy • Positive Framing • Connecting • Engaging 

Source: McKinsey Quarterly Centered Leadership: How Talented Women Thrive Joanna Barsh, Susie Cranston and Rebecca A. Craske,

Soft is Hard Hard is Soft ‐ Tom Peters “In Search of Excellence” 

Five Qualities of Extraordinary Leaders 1. Sight - Ability to see emerging

patterns and shift perspective when necessary

2. Insight - Ability to learn faster than the rate of change in your industry

3. Create - Ability to think strategically and critically to gain insights that create new opportunities

4. Communicate - Ability to collaborate inside and outside your organization and to build and sustain social networks of people engaged in the work

5. Inspire – Ability to mobilize support and engage others to join you in ACTION

Leadership Insights to Action – A Strategic Thinking System 

It’s not what you look at that matters, it is what you see – Henry David Thoreau

“The faster you go, the further ahead you have to see.”

Sight

Insight & Opportunities

“But a time of turbulence is also one of great opportunity for those who can understand, accept and exploit the new realities. It is above all a time of opportunity for leadership.”    ‐ Peter Drucker,      Managing in Turbulent Times 

Insight 

“The best way to predict the future is to create it.”            ‐ Peter Drucker,              Managing in Turbulent Times 

Create!

Create 

Communicate Extraordinary leaders must be adept at network leadership – which is the building & sustaining of large social networks of people engaged in the work. 

Extraordinary leaders must be adept at network leadership – which is the building & sustaining of large social networks of people engaged in the work. 

Communicate 

N

E T

W O R K

S

Inspire to Action

You must be able to reach the hearts and minds of the people doing the work. 

Inspire! 

It’s not what you look at that matters, it is what you see – Henry David Thoreau

“The faster you go, the further ahead you have to see.”

Sight

Sight  Insight  Create  Communicate  Inspire! 

Trends & Issues 

• The economy • The mega‐trends 

– Globalization – Workforce & Demographics – Technology 

• The Profession  

The economy is still uncertain?

Source: Banham, R. (2010 Mar 1). The shape of things to come. CFO Magazine. 

Economists offer a wide range of predictions...

The fact of the matter is, this is not a normal downturn, this is a …fundamental re-SET!

- Steve Ballmer – CEO Microsoft

  “As it relates to science and technology, the rate of change in the next decade, is likely to be 4 to7 

times faster than in the last decade.  If it is 4x faster it would be like planning for 2010 in 1890, if it is 7x   faster it would be like planning for 2010 in 1670.” 

 ‐Expert on Education Panel, The Aspen Institute 

How many of you think changes will slow down in the near term?

Globalization

5 Forces of Globalization

1. Growth of consumers in emerging economies 2. Technologies that empower consumers & 

communities 3. Increase in labor productivity in developed markets 4. Shift of economic activity between and within 

regions 5. Increasingly global markets for labor & talent 

 

It is not either global or local, it is AND…

Glocal

Workforce / Pipeline

Bright spot?

Live First, Work Second

Digital Natives

Generations Generation Gap? Or Generation Lap?

“In 1997, young people for the first time were recognized by adults as being authorities on something truly revolutionary – digital technology, interactive media, and collaboration.” – Don Tapscott “Growing Up Digital”

NGenophobia—the irrational and morbid fear of youth, especially with regards to

their use of the Internet

How to start the conversationThe eight Net Gen Norms 

1. Freedom – The freedom to work when and where you want 

2. Customization – My job my life 3. Scrutiny – I know what you did last 

night 4. Integrity – Be a good company to 

work for 5. Collaboration – Teamwork 6. Entertainment – Work should be fun 7. Speed – Let’s make things happen 

now! 8. Innovation – Let me invent 

Bottom Line: How to keep your star talent • Engage your top performers • Coach tomorrow’s leaders • Manage your Millennials

Think A M P • Autonomy • Mastery • Purpose

Technology

• Information Security Management

• Privacy Management • Secure Data File Storage,

Transmission and Exchange

• Business Process Improvement / Work Flow

• Mobile & Remote Computing

• Training & Competency • Identity & Access

Management • Improved Application &

Integration • Document, Forms, Content

& Knowledge Management • Electronic Data Retention

Strategy • Cloud computing • XBRL

By 2010, Millenials/Gen Y-ers will outnumber Baby Boomers.

Technology & Web 2.0

Here are five major benefits that The Economist report says that social media has created: 

1. Trusted online venues where real people can meet up using their real identities.

2. New ways for firms and organizations to reach their customers and those who influence them.

3. Reduced friction in labor markets by allowing employers and prospective employees to find each other and connect.

4. Faster information flow and communication inside companies and organizations.

5. A "free and immensely powerful set of communication and collaboration tools to everyone on Earth who has access to a broadband internet connection."

Risk Management • Educate & train your staff • Set security & usage policies • Restrict Access during certain    times (if you have to) • Monitor – using search &    google alerts 

CPA Profession

First wave – the public co consolidators

Second wave – small practices unite

Third wave – super-regionals, national, global

The urge to merge?

Top 10 Issues Facing CPAs 1. Economic Outlook  2. Tax  3. Business Operations  4. Implementation and Execution 

of Plans  5. New Business Development  6. Personal/Professional 

Development  7. Management and Leadership  8. Financial Regulatory Reform  9. Access to Financing and Credit  10 New Accounting Standards, 

IFRS Source: CPA Trendlines for AICPA Feb, 2010

Top Ten Issues for MFG 1. Regulatory/Legislative (56) 2. Private Company Leadership (47) 3. Capital Markets Awareness / Recognition (34) 4. Rethinking Business Model (25) 5. Protect Audit/CPA Franchise (20) 6. Risk Management (Audit efficiencies) (20) 7. Leadership Development / Succession 

Planning (19) 8. Global / International (Clients / IFRS / 

Branding) (17) 9. Leveraging Technology & Social Media (17) 10. MFG Issues specific forums / focus groups (8) 

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PCPS/TSCPA MAP Survey 2009 Top Five Issues Facing Firms < 21 

1. Client Retention 2. Marketing / Practice Growth 3. Tax Law Changes & Complexity 4. Keeping up with Regulations & 

Standards 5. Retaining Qualified Staff / 

Work/Life Balance 

http://pcps.aicpa.org/

Mark Koziel, CPA AICPA PCPS

For larger firms add Partner Accountability & Succession Planning

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1. Economic Recovery and the U.S. Fiscal Outlook 2. Health‐Care Reform 3. Employee Benefits 4. Financial Regulatory Reform 5. Global Convergence of U.S. GAAP and IFRS 6. Financial Instruments 7. Financial Statement Regulation 8. Revenue Recognition 9. Business Taxation 10. *XBRL 

 

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Top Ten Issues for FEI 

They have you in their sights!

State CPA Statutes

police power of the states to protect their citizens vs commerce clause

Where do major changes come from? Us – MACPA & AICPA

OR

Them

Current Issues • Federal Legislation

– Wall Street reform – IRS – 7216 – FTC Red flags

• State Legislation – Sales Tax on services – Mobility – State Boards of Accountancy

• International - IFRS • Fair Value Accounting • XBRL – SEC mandatory • Codification Project – FASB • Clarity Project – ASB

– Convergence with international • Reliability Project (comps & reviews) • DOL 403 (b) Plans • Form 990 Changes • Fraud & Forensic SAS 99

Toolkit & Practice • Powerful questions • Thought Leadership • Communicate to Inspire

Insights & Opportunities

The art of asking powerful questions 

• Engagement • Alignment • Accountability • Commitment 

“If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes.”         —ALBERT EINSTEIN 

Insights & Opportunities

The four most important words 

for an organizations are, “what do you 

think?” ‐ Tom Peters 

Appreciative Inquiry – The Art of Asking Powerful Questions 

•Discovery •Dream •Design •Destiny 

Which of these are powerful questions? 

1. What time is it? 2. Did you take a shower? 3. What possibilities exist that we haven’t thought of yet? 4. What does it mean to be ethical? 

Hands – on Exercise

The four key leadership questions 

• Who are we? • Where are we now? • Where are we going? • Why are we going there? 

Thought Leadership – find your tribe &  build your social capital 

CommunicateMeet Joe – Paving foreman 

MACPA social media efforts featured in J of A and win 3rd place in Mobbies, Top 75 Biz blogs & Top 50 Acctg blogs 

MACPA won 2 out of top 10 Biz blogs in MD 

Social media = social capitalreal world examples 

Insight & Communicate – Social Media Tools 

http://www.cpalearning2.com 

Communicate to Inspire Invite them to see the whole movie 

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The meta map of the I2A™Strategic Thinking System provides an architecture or framework to structure thinking and conversation as you engage. When talking about complex issues that aren’t completely understood, or debating solutions where there are multiple points of view, it is easy to get lost in the conversation and prematurely locked into a solution.

CPA templates

to help you with...

Insight & Communicate 

Turbulent times require new skills and new thinking 

Source: Chief Learning Officer magazine 

Does it really work? I2A Story – Ebonie Hughey 

Corporate Controller

Are you indispensable? Imagine an organization with an employee who can accurately see the truth, understand the situation, and understand the potential outcomes of various decisions. And now imagine that this person is also able to make something happen. This is our leader, our marketer, our linchpin!

The only question for leaders

Have I made you feel stronger and more capable?

Source: Emmanuel Gobillot - LeaderShift

Tom Hood, CPA.CITP CEO 

Maryland Association of CPAs Business Learning Institute 

(443) 632‐2301 E‐mail  tom@macpa.org 

Twitter @tomhood Web http://www.macpa.org 

Blog http://www.cpasuccess.com  

Resources & Tools • FREE CPA Social Media self‐directed learning tool 

– http://www.cpalearning2.com • Social Media Quick Start Program 

– http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09SOCMED 

• Social media articles –  How are CPAs using social media    http://www.cpasuccess.com/2009/09/how‐are‐cpas‐using‐social‐media.html – How to leverage social networking http://www.journalofaccountancy.com/Issues/2009/Aug/20091768.htm – Tom’s interview with JofA 

    http://www.journalofaccountancy.com/Multimedia/TomHood.htm 

• Leadership Development   I2A – Insights to Action – a strategic thinking system 

– http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09IASTS 

 

MACPA resources • CPA Success, our daily blog www.CPASuccess.com 

•  CPA Spotlight, our weekly podcast www.macpa.org/podcast 

•  Other MACPA blogs: 

• www.CPALegislativeInsider.com 

• www.NewCPAs.com 

• www.cpaisland.com • CPA Learning 2, a Web 2.0 playground by CPAs for CPAs www.CPALearning2.com 

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Contact Information  

Tom Hood, CPA.CITP CEO & Executive Director 

Maryland Association of CPAs http://www.MACPA.org 

tom@macpa.org  

• Follow me on:  Twitter: http://www.Twitter.com/tomhood  LinkedIn: http://www.linkedin.com/in/tomhood  Facebook: http://www.facebook.com/thoodcpa  Plaxo: http://tomhood.myplaxo.com  Slideshare: http://www.slideshare.net/thoodcpa  Youtube: http://www.youtube.com/thoodcpa  Second Life avatar name: Rocky Maddaloni