Interview of the month

 

Q&A with Lisa Metros, CFA-Stalla Program Director  - Code #A044 Interview by Christine Fawaz Morgan International Regional Marketing Coordinator Founded in 1978 Robert J. Stalla, Ph.D., CFA, Stalla quickly became a global leader in comprehensive CFA Exam preparation, having helped tens of thousands of candidates worldwide master the CFA curriculum and become charterholders. In this exclusive interview, Lisa Metros, CFA Stalla Program Director talks about Stalla’s success, strategies, and gives CFA candidates insider tips on how to successfully prepare for the exam.

AFP News

Where Does the Day Go? Time Management a Growing Challenge for Executives - Code #A045
by Betty Penzner, AFP
December 15, 2006

Despite technological advances designed to ease workloads, chief financial officers still find balancing their schedules difficult, a new survey confirms. Nearly half (46%) of CFOs polled said time management is the greatest challenge for financial executives today, up from 36% five years ago. Keeping pace with technology ranked second, with 22% of the response, versus 27% in 2001.

The survey was developed by Robert Half Management Resources, a provider of senior-level accounting and finance professionals. It was conducted by an independent research firm and included responses from 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.

CFOs were asked, "In your opinion, which on of the following is the greatest challenge for financial executives today?" Their response:

"In addition to managing core fiscal functions, many financial executives also have operational responsibilities, board activities and compliance-related duties that consume much of the day," said Paul McDonald, executive director of Robert Half Management Resources. "These obligations make it challenging to prioritize competing demands."

McDonald noted that while technological devices such as cell phones, laptops and wireless handhelds are designed to streamline and simplify an executive's life, they often end up doing just the opposite. Mark Wright, CTP, agrees. "If someone has or can get your cell phone number there seems to be no time when they will not call. It is like being an on-call finance doctor!" Wright is CFO of Western Power and Equipment Corp. of Vancouver, WA.

"In today's business climate, information is flowing constantly, and to be out of the 'stream of information' for even a day causes delay in the process," explains Kevin Dillard, CFO of the Abbey Company of Cypress, CA. "Since our company is small and some employees wear different hats, it's more important that we provide individuals the tools they need to communicate efficiently. Most of our e-mail, accounting and supporting software platforms are Web-based and can be used at the office or home. The fine line between the physical office and the home is being more and more blurred."

But these intrusions can be controlled, according to another CFO. "Notwithstanding the intrusion by laptops, cell phones, etc. when away from the office, the electronic connection that actually enhances productivity and limits interruptions on family time is being connected to the office via my home desktop computer," said Duane Towns, CFO of C.S. McKee LP of Pittsburgh. "Because the desktop is stationary, I'm not tempted to drag a laptop to my kids' activities or to social events. On the other hand, the connection is readily available for early morning work or in the evening."

Copyright © 2006 Association for Financial Professionals. All Rights Reserved.

CFA News

Wishing You Success on your upcoming Exam
Code #A046
by Lisa Metros, CFA--Stalla Program Director
And the entire Stalla team

ASHRM News

First Graduates of the Master Degree in Human Resource Development - Code #A047
By The Arabian Society for Human Resource Management (ASHRM)

A class of 23 high achievers received master degree diplomas Tuesday, May 15 evening in a ceremony filled with congratulations to the graduates and praise for the partnership for excellence in human resource development between the University of Minnesota, Saudi Aramco, and the Arabian Society for Human Resource Management (ASHRM). This graduating cohort included 16 employees from Employee Relations &Training, two from Exploration and Producing, one from Finance, two from Safety & Industrial Security, and two private students. A total of 150 people attended the ceremony which was held at the Technical Exchange Center in Dhahran.

Each of the graduates had devoted much of their after-work time during the last three or more years to earning 34 credit hours required for the Master of Education in Human Resource Development degree from the University of Minnesota. It is the first time the university’s governing body has approved awarding graduate degrees through the ASHRM-sponsored program.

An array of speakers, headed by Hamed T. Al-Saadoun, vice president of Employee Relations and Training (ER&T), and Essam Z. Tawfiq, president of ASHRM and director of  Saudi Aramco’s Personnel Department, offered their congratulations and expressed hope the graduates will use their hard-earned knowledge for the betterment of the Saudi Aramco and the Kingdom.

“This is an excellent achievement,” Saadoun told the graduates. “However it is only the beginning of a long journey. Knowledge is good in itself, and yet, as we all know, the impact of this knowledge can be maximized if we are able to produce practical applications to improve human performance in the workplace.”

A video with photos of each graduate and their written comments about the HRD program ran continuously on several large screens during the ceremony. These video-taped messages thanked the program sponsors and instructors, but many also focused on the camaraderie between program participants—or cohorts—as they are called. “We saw each other as great sources of information and inspiration,” one graduate said.

Fouzi Bubshait, director of the Career Development Department, who was chosen by the graduating class to speak on their behalf at the ceremony, elaborated on the generous investment the company has made to enable its employees to improve and continually develop their capabilities.  He then praised the sense of fellowship that prevailed among the participants and made reference to Mr. Jum’ah’s recent address to the HR community in which he emphasized the important role played by Human Resources in creating value and prosperity for their organizations and challenged the HR professionals to show significant improvements in human performance.

“I would,” Bubshait said, “like to express my appreciation for the amazing team spirit of the cohort. Participants selflessly provided assistance to others in time of need, whether to help with understanding of the material or to lift the spirits of those of us who were losing heart under the pressure of the struggle.”

Rajaa Al-Ramadhan, another graduate, spoke about the practical work related projects that the participants had completed as an integral component of their program. “Each of the 23 graduates,” Al-Ramadhan said, “has already completed an HR intervention to satisfy the internship requirements and has developed a product which addresses one of the HR issues in their respective departments.  The breadth and depth of these internship assignments warrant some praise. The diverse internship subjects reflect the diversity of the class and cover a wide range of topics across the various Saudi Aramco operations: From Training, Medical, IT, Finance, Security, to Exploration & Producing. The topics were carefully scrutinized to ensure that they add value.”

Finally, Prof. Gary N. McLean of the University of Minnesota, challenged the graduates to live up to spirit of the song, The Impossible Dream, from the 1960’s Broadway musical, Man of La Mancha. He recited the lyrics, urging them, “To dream the impossible dream, to fight the unbeatable foe, to bear with unbearable sorrow, to run where the brave dare not go, to right the unrightable wrong, to strive when your arms are too weary to reach the unreachable star…”

Dr. Ahmad Ajarimah, the program coordinator and the ASHRM HR Certification director, then invited the graduates, most wearing the traditional black gowns, hoods lined in maroon and gold colors, and mortarboard caps of the University of Minnesota graduates, to pass by and receive their diplomas from Saadoun, Tawfiq, and McLean. Nineteen of the 23 graduates attended the ceremony.

أقامت الجمعية العربية لادارة الموارد البشرية (أشرم) يوم الثلاثاء 15/5/2007م حفل تخريج الدفعة الأولى من منسوبي برنامج الماجستير في تطوير الموارد البشرية

Master of Education Degree in Human Resource Development (HRD)  من جامعة منيسوتا مينابليس - سنت بول الأمريكية

 The University of Minnesota in Minneapolis - St. Paul

وقد قام بتسليم الـ 23 خريجاً شهادتهم نائب الرئيس للعلاقات بالموظفين والتدريب  بأرامكو السعودية  الأستاذ حامد السعدون  ورئيس الجمعية الأستاذ عصام توفيق و د. جاري ماكلين من جامعة منيسوتا.

وقد تأسست الجمعية العربية لادارة الموارد البشرية (أشرم) عام 1991م وتعني بشؤون إدارة وتنمية الموارد البشرية وتبادل المعلومات والخبرات في المنطقة.

وهي جمعية غير ربحية هدفها الوفاء باحتياجات العاملين في قطاع الموارد البشرية في العالم العربي وذلك عبر توافر الموارد البشرية المؤهلة.

كما تسعى الجمعية إلى تنمية كفاءات ومهارات العاملين بها في العالم العربي لضمان تفعيل الدور الأساسي والحيوي الذي يواكب عملية صناعة وتنفيذ الاستراتيجيات المؤسساتية في مجال إدارة الموارد البشرية.

كما تمثل الجمعية الصوت الرائد الذي يُعبر بقوة عن قطاع الموارد البشرية في العالم العربي  حيث تختص بتوفير خدمات المعلومات وعقد المؤتمرات والندوات وتوزيع الإصدارات لشريحة كبيرة من الأعضاء في أنحاء العالم العربي.

وقد قامت الجمعية بالتنسيق والاتفاق مع اعلى الجامعات الأمريكية لتدريس البرامج المتخصصة في مجال الموارد البشرية. وقد كانت اولى هذه الشراكات مع جامعة

 University of Minnesota in Minneapolis - St. Paul وقد بدأت هذه الشراكة منذ اكتوبر 1999.

وقد قامت الجمعية حديثاً بعقد شراكة واتفاق مع جامعة تكساس اي اند ام Texas A&M University (TAMU) بهدف تقديم برامج الماجستير والدبلومة المهنية في مجالي ادارة و تطوير الموارد البشرية في مدينة الظهران.

ولمعرفة المزيد الرجاء زيارة موقع الجمعية: www.ashrm.com.

SHRM News

Total Rewards: Motivating with Strategic Rewards - Code #A049
By C. Brooke Orr and Nancy R. Lockwood, SPHR, GPHR

According to a recent survey by Deloitte Development, 56% of certified employee benefit specialists reported that providing reward programs that attract, motivate and retain talent was a top priority.1 Employing total rewards as a key motivational force is not a new concept.However, it is very often an overlooked tool. HR can make a significant impact in overall organizational performance and production by being aware of the relevance of the relationship between reward and motivation. The first step in using total rewards to maximize motivation is to develop a strategic rewards framework through continual assessment, planning and evolution.2

Reward and Goal Strategy

By strategically aligning reward systems to specific organizational goals, HR can establish the organizational culture and at the same time effectively motivate and retain employees. HR can also shape a culture of entitlement, compliance or achievement (see Figure 1) by aligning rewards with organizational culture and goals. For example, tenure/seniority-based pay increases lead to a culture of entitlement, increases based on personal goal achievement lead to a culture of compliance, and data and metric-based increases lead to a culture of achievement.3 Typical monetary rewards, such as bonuses for exceeding sales goals, are more likely to promote a bottom-line performance-driven culture.

However, reward systems often fail due to a lack of congruency between reward structures and performance goals. For example, if the goal is to promote team performance, then the team must be rewarded as a unit. Yet often individuals are rewarded, promoting individual achievement and distinction from others, which then minimizes the collectivistic nature of teamwork.4 A more appropriate strategy for team performance would be offering rewards such as more vacation, which help establish a cooperative team atmosphere with underlying work/life balance values.

At the global level, culture affects reward structures. Collectivistic cultures in countries such as Japan, South Korea and Sweden,5 for example, value cooperation and group performance, whereas in individualistic cultures such as in Italy, Argentina and Germany, individual performance is recognized and valued. Performance-oriented cultures, such as in the United States, Hong Kong and Singapore, are more likely to structure rewards based on performance, in alignment with their value system. Furthermore, cultures with high equity sensitivity,6 such as in Japan, tend to be more entitle-oriented and expect to be rewarded for contributions proportionately to effort, not necessarily performance. HR professionals in international organizations can better maximize motivation cross-culturally by being aware of these value differences and appropriately structuring rewards.

Figure 1: Rewards in the Entitlement Versus Achievement Environment

Description of the Culture

Entitlement • People expect to be protected, provided for and promoted. • They want more and feel that they deserve more. • The focus on the threats to their stability and security.

Compliance • People do what is expected and seek clarity of goals and tasks. • They focus attention on the leader. • There is limited desire to take risks or do anything differently.

Achievement • People do what is necessary to achieve desired results. • They challenge conventional practices unless they work. • They focus on the tasks to be done and communicate freely.

Source: Adapted from Wilson, T. B. (2003). Innovative reward systems for the changing workplace. New York: McGraw Hill.

Reward Frameworks

Reward packaging, traditionally framed solely as a performance outcome, encompasses reward and recognition structures (e.g., variable pay, stock options, bonuses, promotions). Generally, HR practitioners are well-versed in this type of reward framework and execute it successfully. However, alternative frameworks of reward, such as employment-based rewards (see Figure 2), often operate beneath the reward system radar. By reconceptualizing these incentives, which are conventionally perceived as benefits initiatives, and combining them with the traditional performance-based rewards, HR can leverage total rewards packaging to effectively motivate employees, thereby improving overall performance.

Figure 2: Total Reward System Framework
	Employment-Based	Performance-Based
	Benefits and Services	Performance Rewards
Cash or cash-related	• Health and welfare • Broad-based stock options • Tuition reimbursement • Childcare/eldercare • Wellness programs	• Base pay (with merit) • Variable pay • Stock options • Spot awards • Hiring bonuses
	Workplace Opportunities	Performance Recognition
Noncash or symbolic	• Specialized training • Career development • Flex hours • Informal dress • Company events/parties	• Promotions • Special assignments • Recognition “stars” • President’s club • Recognition trips/tickets
Source: Adapted from Wilson, T. B. (2003). Innovative reward systems for the changing workplace. New York: McGraw Hill.

Intrinsic and Extrinsic Motivation

Reward programs can be a valuable motivating force. To design effective reward programs, however, it is necessary to understand the nature of motivation first. Motivation is generally delineated into two components: intrinsic and extrinsic. Intrinsic motivation is activity undertaken for one’s personal satisfaction7 and applies to personal activities as well as to work-oriented tasks. It is essentially working for the love of the job. Intrinsic motivation, often credited as the most crucial type of motivation for increasing employee performance and retention, is also directly linked to stimulating creative and innovative thought processes.

Extrinsic motivation is often linked to human resource practices. It is satisfaction through indirect or external paths and is typically found in the traditional pay-for-performance framework. Research suggests that pairing intrinsic motivation with extrinsic motivation can have an additive effect,8 synergistically increasing overall performance. Therefore, HR may be able to exponentially increase overall performance and retention by increasing intrinsic motivation, such as by selecting employees highly intrinsically motivated by the job while also offering effective extrinsic total rewards packages.

Rewards for the Intergenerational Workforce

With many generations now in the workforce, a “one size fits all” approach to total rewards will no longer be adequate. As Traditionalists and baby boomers prepare for retirement, employees from Generation X are promoted to prominent management positions and Generation Y enters the workforce (see Figure 3). Generation Y, perhaps the most high-maintenance generation to enter the workforce,9 is the most technically literate, educated and ethnically diverse generation in history.10 It prefers employment-based rewards to traditional performance-based rewards, with rewards categorized as workplace opportunities over performance rewards (see Figure 1). Examples of rewards valued by Generation Y are time off, flexible work schedules and specialized training. They also value contributing to society, parenting well and establishing a full and balanced life. Generation Y seeks instant gratification instead of long-term investments of time and effort.11 In contrast, Traditionalists and baby boomers tend to prefer monetary rewards and promotion to benefits, services and workplace opportunities.

HR can effectively capitalize on generational shifts in the workplace by appropriately structuring rewards in accordance to generational differences. Similar to benefits packaging, HR can structure flexible reward systems so that each generation can select preferred rewards. For example, a diverse sample of rewards could be offered across the board to consider multiple generations. While this approach will require time, effort and communication, the benefit of motivating all four generations far outweighs the cost. Overall, the benefits of an intergenerational workforce (e.g., learning from one another, improved performance and quality, etc.) far outweigh the negatives (e.g., conflict, miscommunication, etc.).12

Figure 3: Four Generations at Work
	Traditionalists 75 million born pre-1945 10% of workforce	Baby Boomers 80 million born 1945-1964 45% of workforce	Generation X 46 million born 1965-1980 30% of workforce	Generation Y 76 million born post-1980 15% of workforce
Assets	Wisdom Experience Perseverance	Social skills	Technology skills Education Fast track to manage	Educated/experienced Sociable/technical Work ethic/multitask
Lack	Technology skills	Technology skills	Social skills	Direction/focus/confidence Interpersonal/soft skills
Style	Top-down Directive Inform as needed Take charge Do what’s right	Respect authority Network Micro-manage Proactive Work hard	Skeptical Reluctant to network Outcome-focused Achieve well/fast Bend rules as needed	Get done/produce/negotiate Plunge right in/fast-paced Open and civic-minded Blend work and play Measure own success
Source: Adapted from Eisner, S. P. (Autumn 2005). Managing Generation Y. SAM Advanced Management Journal, 70, 4, 4-15.

Creativity and Innovation: Implications for Reward Systems13

In today’s competitive marketplace, creativity and innovation are essential to the livelihood of organizations. Creativity is composed of three components: expertise, creative thinking skills and motivation.14 Creativity (and motivation in particular) can either be effectively stimulated through strategic reward practices or, conversely, be negated through poor practices. HR can take steps to prevent creative restriction and encourage creative adventurism by avoiding strictly using monetary rewards for performance and instead rewarding for effort and risk-taking, even if the venture fails. This will establish a sense of creative safety and encourage others to deviate from standard and stagnant practices as well as learn from failed ventures. It is also important to evaluate creative ideas based on their potential, not their flaws. Most importantly, HR can increase intrinsic motivation by making the work itself rewarding and engaging through a constructive work environment, matching individual skills to creative tasks to keep employees engaged and giving employees autonomy in how they problem solve.

Literature Review

Cooperation, Competition, and Team Performance: Toward a Contingency Approach15

To facilitate successful team performance, it is essential to structure the reward system congruently with the team’s specific performance goals and priorities. This study considered how factors of speed and accuracy related to goals and subsequent rewards. Specifically, this research examined the effects of team structures of cooperation versus competition on speed and accuracy of overall team performance. The study found that if speed was top priority, a competitive reward system among the individuals within the team would be optimal (i.e., rewards distributed equitably among individuals within the team). However, if accuracy was essential, a cooperative reward system (i.e., rewards evenly distributed among all team members regardless of individual performance) would be favorable. If speed and accuracy were both essential, different reward structures should evolve throughout each stage of the team task life cycle in accordance to goal-reward congruency and prioritization. Overall, the study found that dynamic reward structures strategically aligned with performance goals increased overall team performance.

Group Creativity: The Effects of Extrinsic, Intrinsic, and Obligation Motives16

This study evaluated creative team performance by differentiating between extrinsic motivation, intrinsic motivation and obligation motivation. Extrinsic motivation can be defined as motivation coming from sources outside of the task itself (e.g., monetary reward and supervisor recognition).17 Obligation motivation is reciprocity-based motivation,18 and intrinsic motivation is based on the qualities of the task itself, characterized by deep personal involvement and enhanced by the “playfulness” of the task.19 The study found that rewards increased extrinsic motivation but did not significantly affect intrinsic or obligation motivation. More importantly, extrinsic motivation (bonus rewards) decreased group creative performance. Alternatively, intrinsic motivation and obligation motivation increased group creative performance. If group creativity is the goal, this research suggests that traditional bonuses or monetary rewards are ineffective incentives and effort should be focused on increasing intrinsic motivation (perhaps by making the task/goal more interesting or selecting personnel that are a better fit for the job) and obligation motivation (perhaps through a cooperative work environment with strong social ties).

Managers’ Theories of Subordinates: A Cross-Cultural Examination of Manager Perceptions of Motivation and Appraisal of Performance20

This research examined managers’ assessment of employee motivation and the resulting impact of motivation perceptions on performance appraisals. In the United States, managers perceive their employees to be more extrinsically motivated than intrinsically; however, performance appraisals of these employees reflect the managers’ (and HR’s) perception of intrinsic motivation. In contrast, in Asia, managers perceive employees to be equally intrinsically and extrinsically motivated, and the performance reviews reflect this balance. Similarly, in Latin America, managers perceive employees to be more intrinsically motivated, and the performance appraisals reflect intrinsic motivation. The incongruence of U.S. managers’ perceptions and appraisal ratings (typically leading to reward via bonuses, promotion, etc.) is worrisome. This study suggests that HR can stimulate productivity and retention by increasing awareness of the most effective types of motivation for the group of employees (both domestically and internationally) and rewarding employees accordingly.

In Closing

HR has the potential to influence employee motivation in multiple ways. First, total rewards can be framed to include both employment-based and performance-based rewards to maximize reward breadth. Second, rewards can be structured to be congruent with specific goals—whether to promote teamwork or individual performance—and this can influence behavior by anticipating and strategically structuring the reward system to enhance desired performance. Third, HR’s awareness of the link between reward structure and organizational culture promotes effective use of that relationship to foster and maintain the desired organizational culture. Finally, by realizing and catering to motivational differences among employees, whether generational or cultural, HR can maximize creativity, innovation and overall performance through combining and balancing both extrinsic- and intrinsic-based total rewards.

Online Resources Deloitte: www.deloitte.com/dtt/consulting/humancapital/totalrewards Human Capital Institute: www.humancapitalinstitute.org World at Work: www.worldatwork.org/aboutus/generic/html/aboutus-whatis.html SHRM 2006 Benefits Survey Report: www.shrm.org/surveys/ SHRM 2005 Reward Programs and Incentive Compensation Survey Report: www.shrm.org/surveys/

Endnotes

1 Deloitte Development LLC. (2005). Top five total rewards priorities for 2005: A survey of certified employee benefit specialists. United States: Author.

2 Wilson, T. B. (2003). Innovative reward systems for the changing workplace. New York: McGraw Hill.

3 Ibid.

4 Gross, S. E. (1995). Compensation for teams. New York: The Hay Group.

5 Javidan, M., & House, R. J. (2001). Cultural acumen for the global manager: Lessons from Project Globe. Organizational Dynamics, 29, 4, 289-305.

6 Allen, R. S., Takeda, M., & White, C. S. (2005). Cross-cultural equity sensitivity: A test of differences between the United States and Japan. Journal of Managerial Psychology, 20, 8, 641-662.

7 Osterloh, M., & Frey, B. S. (2000). Motivation, knowledge transfer, and organizational forms. Organizational Science, 11, 5, 538-550.

8 Wiersma, U. J. (1992). The effects of extrinsic rewards in intrinsic motivation: A meta-analysis. Journal of Occupation and Organizational Psychology, 65, 2, 101-115.

9 Breaux, J. (2003). Face of American workplaces is changes, human resource professionals say. Knight Rider Tribune Business News.

10 Eisner, S.P. (2005, Autumn). Managing Generation Y. SAM Advanced Management Journal, 70, 4, 4-15.

11 Southard, G., & Lewis, J. (2004). Building a workforce that recognized generational diversity. Public Management, 86, 3, 8-13.

12 Burke, M. E. (2004). SHRM generational differences survey report. Alexandria, VA: Society for Human Resource Management.

13 Amabile, T. M. (1998, September-October). How to kill creativity. Harvard Business Review, 77-87.

14 Amabile, T. M. (1996). Creativity in context: Update to the social psychology of creativity. Boulder, CO: Westview.

15 Beersma, B., Hollenback, J. R., Humphrey, S. E., Moon, H., Conlon, D. E., & Ilgen, D. R. (2003). Cooperation, competition, and team performance: Toward a contingency approach. Academy of Management Journal, 46, 5, 572-590.

16 Cooper, R. B., & Bandula, J. (2006). Group creativity: The effects of extrinsic, intrinsic, and obligation motives. Creativity Research Journal, 18, 2, 153-172.

17 Lepper, M. R., & Henderlong, J. (2000). Turning ‘play’ into ‘work’ and ‘work’ into ‘play’: 25 years of research on intrinsic versus extrinsic motivation. In C. Sansone& J. M. Harackiewicz (Eds.), Intrinsic and extrinsic motivation: The search for optimal motivation and performance, 257–307. New York: Academic.

18 Goei, R., Massi, L., Lisa, L., Boster, F. J., Skalski, P. D., & Bowman, J. M. (2003). The mediating roles of liking and obligation on the relationship between favors and compliance. Communication Research, 30, 2, 178–197.

19 Amabile, T. M. (1996). Creativity in context: Update to the social psychology of creativity. Boulder, CO: Westview.

20 DeVoe, S. E., & Iyengar, S. S. (2004). Managers’ theories of subordinates: A cross-cultural examination of manager perceptions of motivation and appraisal of performance. Organizational Behavior and Human Decision Processes, 93, 47-61.

Disclaimer

This article is published by the Society for Human Resource Management (SHRM). All content is for informational purposes only and is not to be construed as a guaranteed outcome. The Society for Human Resource Management cannot accept responsibility for any errors or omissions or any liability resulting from the use or misuse of any such information.

Events

IMA Senior Leaders Visit Dubai for IMA’s 2nd Annual Global Conference

IMA® senior management and volunteer leaders joined nearly 150 accounting and finance professionals from around the world at IMA’s 2nd Annual Global Conference, held 6-9 May, 2007 in Dubai, UAE.
Select session speaker notes are available online for free download at http://www.imadubai.org.

IMA President and CEO Paul A. Sharman, ACMA; IMA International Development Leader Jim Gurowka, IMA Vice President of Research and Applications Development Jeff Thomson, along with volunteer leaders William L. Brower, Jr., CMA, CFM, board chair; John B. Pollara, CMA, chair elect; and Larry White, CMA, CFM, CPA, former chair shared insights of their diverse backgrounds in management accounting and finance.

“Dubai continues to grow as the preeminent economic center in the Middle East so it’s most appropriate that IMA offers a high-caliber event in this part of the world,” said Mr. Sharman.  “With presenters and participants from more than 30 countries, this event truly brought together different customs and cultures, with the common goal of driving economic value in the global community.”

The conference showcased a speaker program of some of the leading minds in the profession. Keynote presenters included Abdullah H. Al-Abdul-Gader, Ph.D., one of five commissioners heading the Saudi Capital Market Authority.  Dr. Al-Abdul-Gader’s presentation addressed the issue of corporate governance in the Cooperation Council for the Arab States of the Gulf (GCC).  Mohammed Al-Ali, controller, Saudi Aramco, delivered a presentation on leveraging technology to improve transparency and business performance management.

In all, nearly 20 engaging sessions provided professional skills and best practices that professionals in a variety of industries can use in today’s changing global business world.  Participants gained valuable insight in the areas of planning and budgeting, risk management, regulatory compliance, internal controls, global costing practices, and technology.

“Good corporate governance, risk and compliance management, and effective information systems are all tools that enable good business decisions by management accountants,” said Mr. Sharman.  “These tools are critical to an emerging economic center and we’re pleased to have hosted an informative program in Dubai.”