CFOs on the Pandemic and Business

The video discusses the impact of the pandemic on business continuity, remote work, and financial planning. CFOs from Marriott and Waste Management share insights on adapting to short-term needs, maintaining connectivity, and planning for recovery. They explore the future of remote work, cash management strategies, and the importance of flexibility in financial forecasting. The discussion also covers the role of office space and planning cycles in a post-pandemic world.

What has been a significant shift in focus for CFOs during the pandemic?

• Increasing marketing budgets

• Reducing employee numbers

• Short-term tactical strategies

• Long-term strategic planning

According to the discussion, what has been a key focus for businesses in recent months?

• Reducing technology investments

• Expanding office spaces

• People and connectivity

• Increasing product lines

What is one challenge of remote work mentioned in the discussion?

• Higher office maintenance

• Difficulty in process planning

• Increased travel costs

• Lack of internet access

What has been a major learning for businesses regarding remote work?

• It is impossible to conduct meetings remotely

• Remote work is less efficient for strategic planning

• Remote work is more expensive

• Remote work eliminates the need for any office space

What is expected to be a part of every workweek post-pandemic?

• Office parties

• Remote work

• Increased travel

• Daily team meetings

What is a significant consideration for businesses when deciding what should remain remote?

• Employee preference for flexibility

• Proximity to public transport

• Availability of parking spaces

• Cost of office supplies

What has been emphasized as crucial in financial planning during the pandemic?

• Increasing marketing spend

• Flexibility and cash management

• Hiring more staff

• Expanding office spaces

What is a key factor for businesses in planning for recovery?

• Expanding into new markets

• Increasing product prices

• Reducing employee benefits

• Cash flow management

How has the pandemic affected financial forecasting?

• It has increased the focus on long-term forecasts

• It has reduced the need for forecasting

• It has rendered many forecasts obsolete

• It has made forecasts more accurate

What is a major factor influencing business recovery expectations?

• The reduction in travel costs

• The rollout of the COVID vaccine

• The increase in office space

• The rise in marketing budgets