Vom Controller zum CFO – Anforderungen für eine erfolgreiche Controlling-Karriere in großen österreichischen Familienunternehmen

  • Sebastian Schartner

Student thesis: Master's Thesis

Abstract

This Master’s thesis investigates the career trajectory from controller to CFO, a path that has been underexplored in academic literature. The study focuses on large Austrian family-owned enterprises in particular and highlights the key professional and interdisciplinary qualifications required for this transition. It also delves into the influence of educational background, prior professional experience, and the distinct challenges associated with family businesses. Additionally, the master thesis examines the importance of ethics and integrity within the CFO role, as well as the significance of professional networks. The effectiveness of the CRF Master’s program at the University of Applied Sciences Steyr in preparing candidates for a CFO career is also critically evaluated. The research methodology for this thesis comprises an SLR and the conduct of a qualitative empirical study. The SLR method was chosen due to its objective and standardized criteria, in comparison to the TLR. The Scopus database was utilised for this purpose, as it offers extensive coverage of publications, ensures high data quality, and enables precise search functions. Through SLR, 30 relevant academic sources were identified. In addition, qualitative data was gathered through unstructured interviews with twelve CFO who started out as controllers, providing real-world insights to compare and contrast the SLR findings. The findings indicate that the successful transition from controller to CFO requires expertise in controlling, accounting, financial management, digitalization, risk management, law, and M&A. The SLR details the importance of financial reporting, while the interviews hone it on sustainability reporting and process understanding as critical competencies. Moreover, communication, teamwork, resilience, adaptability, conflict management, and negotiation skills were found to be critical social skills. A university degree in business, possibly supplemented by an MBA, is regarded as the ideal educational background for aspiring CFO. Experience in controlling and related disciplines is considered essential. The CRF Master’s program at the University of Applied Sciences Steyr was compared against these findings to assess its relevance in preparing candidates for a CFO role. The triangulation of data suggests that the program content aligns well with both, academic and practical requirements of the CFO position.
Date of Award2024
Original languageGerman (Austria)
SupervisorThomas Rockenschaub (Supervisor)

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