Dean Hallett, Chief Financial Officer and Executive Vice President of Operations and Strategy at 20th Century Fox, delivered a presentation with Argyle’s CFO membership on enterprise alignment and the guiding principles behind it at the 2015 Chief Financial Officer Leadership Forum in Los Angeles on Oct. 8. In his presentation, Hallett described how Fox’s ongoing finance transformation is facilitating enterprise alignment.
According to Hallett, people “need a champion” for alignment. At Fox, Hallett said he encountered factions along the way, but having the ability to minimize the risk of people undermining the business’ goals was key. He also pointed out those who continue to undermine may not survive a realignment. However, Hallett said a framework for best practices is crucial because it empowers businesses to build support among employees: “I don’t always come up with a vision. Somebody comes up with the vision; I support it as the champion, but then you need to get the people that are the experts. I don’t know how these digital operations really work. … I need the subject matter experts to really sit down and help make sure that we’re coming up with a process that enhances that vision and helps us do the right thing.”
Following the development of a vision, Hallett said businesses next need to enroll people in their alignment strategies. Although many distinct groups may exist within a business, Hallett said, an organization that gets people involved can garner support from myriad groups: “You need all the key stockholder leaders from the different divisions that you’re working with to be supportive because you want them to be able to influence their teams, so that support comes from all directions.”