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New Cgma® Business Model Framework And Trust Tool Kit Helps Boards Link Strategic Decision Making And Value Generation

The Association of International Professional Certified Professional Accountants sees integrated thinking and the proactive management of trust as critical factors for the creation of sustainable long-term value.

The Association of International Certified Professional Accountants (the Association) has today launched a new guide and toolkit to help business leaders and finance professionals succeed in dealing with the challenges of creating and maintaining value and trust in today’s disruptive environment.

 ‘Connecting value generation for the long term – A practical guide to the CGMA Business Model Framework’ and ‘Managing the Trust P&L – A Toolkit for Boards’ will be introduced to business leaders at a CGMA Research Foundation event at Mansion House today. The guide shares practical advice to help boards, senior executives and support staff understand their organisation’s business model and how to better align business strategy with value creation and operations. The toolkit provides an objective approach for business leaders to manage, measure and proactively marshal trust in their business model over the long term.

Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting, at the Association said:

“Technological advances, market upheaval and fast evolving customer expectations are impacting on business models and forcing all organisations to rethink the way they operate. We are seeing this in the changing mandate of the finance function and the utilisation of management accountants’ skills across all areas of the business. Today, an organisation needs to build a complete picture of its business model which links strategy with implementation before taking action.

He continued: “Having greater clarity, understanding and definition around the business model is crucial to achieving long term success in an environment where intangible assets, such as trust and intellectual property, account for over 80 percent of corporate value but can be eroded in hours.

“Launching the ‘CGMA Business Model Framework’ and ‘Managing the Trust P&L – A Toolkit for Boards’ will enable business and finance leaders to ask better questions, create long term value and build organisations that are trusted by the public and the stakeholders they serve”.

The ‘CGMA Business Model Framework’ was developed and refined through a process of global consultation with business leaders, finance professionals and members of the Association.

At a time when business models are rapidly evolving and becoming increasingly complicated, the guide poses a series of questions that connect value generation for the long term by helping businesses in defining, creating, delivering and capturing value through integrated thinking and reporting for their key stakeholders.

To complement the new guide, an additional new resource titled ‘Managing the Trust P&L – A Toolkit for Boards’, was also launched at today’s event. The toolkit will help business leaders establish how the company is building trust, its reputation, and brand with its principal stakeholders. It includes questions for the board to consider, potential KPIs, and an example Trust dashboard to monitor progress. This provides an objective approach for business leaders to manage, measure and proactively marshal trust in their business model over the long term.

This is a crucial area for businesses, with the speed of modern communications and the power of social media placing trust and reputation at the heart of business’s success.

The ‘Managing the Trust P&L – A Toolkit for Boards’, complements the Lord Mayor of London’s Business of Trust programme and builds upon the five overarching CIVIC Principles of Trust.

The Association of International Certified Professional Accountants is the unified voice of the Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA), and works to provide the world’s most highly skilled accountants – CGMAs and CPAs – with the knowledge, insight, and foresight to meet the demands of a disruptive world.