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Why brand stewardship is a CFO's job
As a company’s de facto chief risk officer, there really is no one better positioned to undertake the role of brand steward than the CFO.
Brand may be an intangible asset for accounting purposes, but the value of a brand is hard to deny. That value, however, can be fleeting if left unprotected. Indeed, brands are under constant attack, and brand stewards must systematically understand the risks that their brands face, the potential impacts, and the options for managing these risks. Without the proper safeguards, the results may be harmful for both the brand and the company — and sometimes for others in an industry.
In this issue of CFO Insights, we will look at why CFOs should work in conjunction with marketing to defend and expand a company’s brand; why such a function falls under the steward role as outlined in the Four Faces of the CFO; and what steps CFOs can follow to both protect this most precious and vulnerable asset.