Accountants and financial managers as strategic contributors using balanced scorecards

Strategic thinking is an elaborate process that involves the inclusion of several aspects within an organization in order to realize the intended long-term plan. It incorporates the inputs of different individuals within the different units within an organization so as to fully integrate the process and generate more ideas to execute the laid plans. The perception that the accountants and financial managers are 'mere bean counters' and cannot contribute to strategic thinking and that they don't posses tools to do so is misguided. The term "bean counter" is a common word which is used to negatively refer to the accountants and other individuals such as the financial managers whose job descriptions are viewed as that of counting every detail and tracing wastage in every aspect of the organization's expenditure compared to that of the kitchen inventory keepers who keep every record and would want to count all the beans in a sack (Wise Geek, 2003).

Taking into consideration the process of strategic thinking, the roles of the accountants and the financial managers are equally important and add value to the whole process and cannot be reduced to that of dealing with figures but have a significant role to play if the strategic plan is to work effectively. Taking into consideration the strategic thinking process, the roles of the accountants and the financial managers among other dockets that fit into the 'bean counting' tag are traceable. It is a creative process that takes into account all the parameters and acts within asset of assumptions and existing ideologies challenging those assumptions while exploring more available alternatives to ensure amore and amicable solutions and approaches are unveiled .

One of the most important elements in strategic thinking is the systems perspective. A strategic thinker should look into all the systems from all the directions and levels of each individual to fully understand the environment in which the organization operates both externally and internally. A strategic thinker understands the benefit of integrating all the departments and the linkages that every individual regardless of the functional level puts in the final output of the organization. Accountants and financial managers' roles should not be looked down upon and be viewed as those who are not armed with the right tools and mindsets to strategically think while they are executing their duties. Strategic thinkers understand the connection between all the departments and different functional levels and appreciate their input which aid in realizing the strategy to be put in place.

Another element in strategic thinking is intelligent opportunism which suggests being open to the ever evolving environments and being open to alternative strategies through the interaction with the employees at different levels if the strategic vision is to be attained. An environment that allows for open communication across the different levels within the organization creates a platform for more ideologies whereby all the individuals filling different positions can share their views contributing towards the improvement of the bigger strategy in place. Categorization of workers based on the positions they fill whereby their abilities to think is undermined can deter progress and may not lead to the ultimate goal of understanding the internal environment which is crucial for strategic thinking.

Strategic thinking involves thinking in time, an aspect that does not leave out any single division out of the picture. It is the duty of the financial managers and accountants based on their interactions with the figures and their analysis that when produced on a timely manner helps in crafting the strategies to put in place. Clear and well calculated financial position of an organization is an indicator that can be utilized to realize the strategic vision on a timely basis and can call for an emergency thinking to salvage the organization; where in such a scenario the financial managers' expertise is highly required (Mary Bast, n.d).

The question as to whether the accountants and the financial managers do not poses the tools to enable them think critically is a culture that needs to be abolished in any organization and such stereotypes can misguide the prosperity of an organization. In laying down a strategy, the past encounters should be used to gauge the future occurrences of certain events within the business environment. The financial managers and accountants are best placed in comparing the analysis of a past event to help in coming up with a strategy to either improve or abolish certain practices if profitability is to be realized in future. The modern approaches to management and leadership styles tend to consolidate the employees and empower them and make the best out of the employees embracing the team spirit.

Opening up of the communication channels and the elimination of the bureaucracies which lead to the thinking that certain roles and decisions are best suited for people occupying certain positions within the organization and equally valuing all the employees without giving them tags and baring their abilities to explore their other hidden skills is the best direction an organization should take if they are to realize their strategic visions.

In making reference to the balanced scorecard which is a strategic planning system which coordinates all the departments within the organization and realigns them to the organizations vision and mission, the system takes into consideration all the units and proper functioning of all the departments jointly for efficiency to be realized. Taking into account the four aspects of the balanced scorecard which includes; financial, internal business processes learning and growth and the customer, all these factors have to be equally addressed if the organization is to function effectively. Just like the roles both the financial managers and the accountants cannot be ignored, improving on just one area and ignoring the rest of the balanced scorecard variables cannot translate into success in other areas (Sandra McCarthy and Alan Chapman, 2008).