Check out Dr. Barsky’s latest Forbes articles!

In his article, Noah Barsky explores the criticality of financial insight and responsibility. Timely and timeless financial acumen is as crucial as ever in the digital era, as it can quickly reveal which enterprises are, in reality, only technologies in search of a sustainable business model. Despite the fluid and fleeting lexicon of business buzzwords, leaders of well-run organizations honor fiscal stewardship, deliver competitive returns, and communicate with clarity and candor.

Kevin Hart, mega-star comedian, entrepreneur, philanthropist and entertainment mogul, just boosted his unparalleled resume with a new venture in education.

How the finance function can harness the power of AI

In this episode of the Better Finance podcast, Noah Barsky, Professor at Villanova University, joins host Myles Corson to explore the impact of AI across finance function.

All ventures must innovate to remain competitive. However, the harsh reality is that most innovation initiatives fail despite massive investments in methodologies, organizational structures and human capital. Substantive innovation requires far more than inspirational quotes about change and irrelevance, aspirational task forces, dedicated funding and other forms of stagecraft. This paper synthesizes research on why innovation falters and how courageous leaders can try to fix it by disassembling its teams, structures and perhaps, over time, its culture.

Digital era opportunities and dangers challenge traditional approaches to risk man- agement. For decades, organizations vested risk oversight in legal, compliance, and HR functions. Despite the fact that tech-driven business models demand far more dynamic and adaptive approaches, entrenched corporate behaviors, incentives, and bureaucracy often stall strategy and thwart innovation.

As technology becomes central to business models, executives are increasingly challenged with maintaining operational excellence while also accelerating digital strategy. Yet, the C-suite and frontline both know that more often it’s technology’s operational requirements that consumes most of the air in the room – especially when projects flounder, falter and fail. Ultimately, however, strategic competitiveness will not be determined by how well or poorly companies upgrade their “systems,” but with how well they reimagine their digital futures.

Note from the author: While I often write about organizations and technologies, this Advisor is a bit of a (related and important) tangent, as it focuses on career advancement. Invariably, in working with executives and rising leaders, particularly technology professionals and consultants, conversations turn to career challenges. I have long wanted to author a piece that captures an effective approach that, over many years, has resonated well with business professionals aiming for a promotion and meaningful career advancement.

The authors point to the ingenuity, adaptability, and perseverance of the human spirit during times of challenge as a hallmark that can bolster organizations in the future. The piece explores the value of boosting employee resilience and includes detailed actions leaders can take to invest in employee well-being, enhance workplace culture, and drive performance.

Digital transformation is the hottest trend and spend in technology circles these days. But how can employees possibly transform a business that they don’t fully understand?

Companies may have ample tech skills, but functional experts often fall short when asked to be strategic difference makers. That is a major problem with most grand-scale initiatives.

Digital transformation risks being the latest, frustrating “IT project” remembered for inflated promises, cost overruns, and few results. Executives and tech leaders can rewrite that narrative by realizing that success depends far more on how they develop people than how they deploy technology.

Noah Barsky explores some key shifts in mindset that effective risk management will require, such as making risk management the responsibility of all, avoiding silos, looking at issues that are important but not urgent, and building a culture that can ask, “Why?” Barsky focuses on the need to not only connect the dots between different risk areas, but also between risk management and other corporate planning and monitoring activities.

Imagine that you’re reporting to the best supervisor you’ve ever had — the best manager you could imagine having. Now picture this person looking up from a list of goals you’ve proposed and saying in all seriousness, “I worry that you’re going to fail at these. We should set our sights lower.”

It sounds mildly absurd. But in all likelihood, you’ve had a version of this conversation. It’s the subtext of any goal setting process that prioritizes the criterion of attainable (or achievable, or realistic — whichever version the HR department has selected). Can you think of any other management “technique” that so encourages people to throw their hands up in surrender?

SMART goals, one of the most used management tactics for setting goals that are specific, measurable, achievable, relevant and timebound, are in reality not so smart. What works or fails in goal review is rooted in planning.

The talent marketplace is experiencing enormous turmoil. Now is the time to stop exacerbating that tension with ill-considered management practices. The eventual return and recovery from COVID-19 is a collective opportunity to move from SMART goal setting to intelligent accomplishment pursuit.

The COVID-19 pandemic has quickly accelerated and actualized the technology-driven “future of work” expectations widely predicted for the coming decade. The current economic upheaval threatens many companies’ existence and longstanding commonplace industry assumptions. As executives grapple to sustain business operations, meet financial obligations, explore renewal and reinvention alternatives, they must somehow also inspire, motivate, and guide the workforce to prepare for a highly uncertain and unpredictable future. An opportunity and challenge hide in plain view – elevating business acumen across the organization.