This document discusses the importance of lifelong learning as a competitive advantage. It notes that the future belongs to organizations and individuals that make a commitment to continued learning. Rapid change means that winners will be those who can learn faster than both the rate of change and their competition. The document then lists 10 trends impacting the accounting profession, such as changing demographics, increased globalization and technological advances. It outlines the DNA of the CPA profession in terms of values, competencies and the learning matrix. Finally, it provides contact information for Tom Hood, CEO of the Maryland Association of CPAs and Business Learning Institute.
1. Learning as a Competitive
Advantage
Keeping your L>C
Tom Hood, CPA, CITP, CGMA
CEO
MACPA & the Business Learning
Institute
2. "In a world that shows no
signs of slowing down, no
individual can rest on his
or her intellectual
laurels… The future
belongs to this
organizations, as well as
those individuals, that
have made an active,
lifelong commitment to
continue to learn.”
- Howard Gardner
Five Minds for the Future
2
3. Find your Edge
In a period of rapid
change and increasing
complexity, the winners
are going to be the
people who can learn
faster than the rate of
change and faster than
your competition.
- Tom Hood, CPA,
CITP,CGMA
CEO of the MACPA & the
Business Learning
Institute
3
4. What CPAs have said about the future:
1. Changing demographics - Aging workforce, diversity, 4 generations in the
workplace
2. Increased globalization, economic shifts and increasing competition
3. The technological revolution - cloud, social, big data & XBRL
4. Issues around Information Security, Privacy & data integrity
5. Shift to consumer and employee power (from push to pull)
6. Changes in the way we communicate - mobile, txt, skype
7. Work-life challenges or conflict - "do more with less", 24/7 work
8. Information Overload - filter failure
9. Increasing complexity of rules and standards (IFRS, GAAP, PCAOB, SEC)
10. Economic uncertainty - deficit, debt and pressure on government
http://www.slideshare.net/thoodcpa/top-trends-to-watch-2012-cpa-horizons-2025
American Institute of CPAs
6. The DNA of the CPA
Values & Competencies
• Leadership
• Communication
• Strategic Thinking
• Collaboration & Synthesis
• Technologically Savvy
7. The Learning Matrix
Practice • How we work
Areas
• Skills we need
• Knowledge
Competencies • Skills
• Abilities
• How we grow
Staff Levels • Career Paths
8. Staff Principal
Decision making /Director
by Leading and/or
specification, task developing new
specific work practice
areas, strategic
Critical alliances & talent
Turnin
Senior g Point
Senior
1st level supervision
on established Manager
guidelines & Assess &
standards understand longer-
term variables &
accomplishing future
goals
Manage
1st level of strategic
thoughtr focus on
&
boundary spanning
activities
Copyright 2012 – Business Learning Institute
11. A leader’s
job is to set
context and
provide
hope and
inspiration...
11
12. Tom Hood, CPA.CITP
CEO
Maryland Association of CPAs
Business Learning Institute
(443) 632-2301
E-mail tom@macpa.org
Web http://www.macpa.org
Blog http://www.cpasuccess.com
Notas do Editor
Prior slide before final editsAging population, loss of wisdom, knowledge transferGlobal rules & standards –IFRS – complexityInformation overload, complexity (Need for critical thinking & filter) Information Security, Privacy & Data ProtectionGlobal Competition, Rise of the RestWork-Life BalanceDiversity – Cultural Fusion – Beiging of AmericaChanging Communication (decline of face-to-face)Increased GlobalizationUS Deficit Education
The concept is to create a 3 dimensional matrix based on the core practice areas of the firm (audit, tax, PFP, NFP, BVLS, etc), identify the critical competencies needed by the firm, and mapping those to the staff levels to create a curriculum that helps develop the talent in the firm an allows the staff to see what it takes to advance in their careers.
Like a ball that gets a reflexive bounce when you throw it to the ground, focusing on the right competencies and a systematic approach to talent development through a competency ladder will develop talent faster.