As business cycles shorten, executives face the stiff challenge of managing losses while maintaining morale and staying competitive, reports Emilie Le Beau in Crain’s
Chicago Business. Although such competences are often acquired through experience, many leaders are now applying for an executive MBA to sharpen their loss management skills and deepen their understanding of finance. “Even if the person isn’t the CFO or the controller, they need to understand the financial performance of the business,” notes
Mike Portland, a consultant at Egon Zehnder International, Chicago. Portland also sees a greater emphasis on team-building skills and innovation at an executive level nowadays. “It’s more than just cost-cutting – it’s how to spend the resources. In this environment, you are having to do more with less,” Portland concludes.
