Ajay Seth discusses the evolving role of money in Maruti Suzuki’s CFO, Four Schools of Management’s Global Leadership Lecture Series
The Fourth School of Management hosted the third seminar in the Finance and Accounting Area Global Leadership Lecture Series. Ajay Seth, Chief Financial Officer and Member Executive Board of Maruti Suzuki India Limited, addressed the session and shared his thoughts on the growing role of finance.
The growing expectations of management and the board have seen CFOs as a business partner to ensure that their ultimate goals and objectives are being met. Values have changed in terms of consent and the number of consents must be complied with. Businesses have become so dynamic that if a CFO does not provide the right advice at the right time, business profits and revenue can plummet.
In order to play an active role in finance, students have to go beyond the necessary rules of finance. Students need to improve and invest in their soft skills. These include communication skills, development of leadership qualities, commercial and business skills. Students also need to invest in technical skills – develop software skills, learn regulatory compliance, have in-depth knowledge of reporting standards, develop analytical skills – especially business intelligence and data analysis.
Ajay Seth concludes the session by discussing the essential elements that companies need to focus on to establish value. Environmental, Social and Governance (ESG) is very important for the company. Consumers value a company that has a strong ESG practice. Elements under ESG include CSR, risk management, pollution control and climate change, anti-corruption campaigns, etc. Similarly, good corporate governance is important for long-term success. Elements under corporate governance include broad freedoms and constitutions, executive compensation, shareholder rights, and so on.