Treasury News Network

Learn & Share the latest News & Analysis in Corporate Treasury

  1. Home
  2. Best Practices & Benchmarking
  3. Collecting Payments on the Internet

On the third day of Christmas the Peter Drucker* Foundation sent to me suggestions on how to:

Improve my corporate treasury department’s internal and external contribution by:

  • Understanding that “Leadership is the lifting of a man’s vision to higher sights, the raising of a man’s performance to a higher standard, the building of a man’s personality beyond its normal limitations.” (Boris Johnson and Trump sadly and tragically are nowhere close to understanding this.)
  • Accepting that the purpose of a corporate treasury department is to be the guardian and anchor of the financial health of the corporation. Or in the long term: “To ensure the survival of the company sustainably. – see.
    • But as Bruce Lynn pointed out, Treasury needs some context for the “does corporate treasury have a purpose" question:
      • Lifespan – no entities, especially corporations, are sustainable over long periods of time. The problem is that no one knows what the natural life of an entity is?
      • Company – whatever treasury’s purpose it cannot exist outside of the company’s purpose. I doubt senior management is willing to pay for treasury to answer the question on its own.
      • Market – company’s purpose must “fit” within the constructs of a market composed of other corporate entities usually constructed to obey a variety of economic principles.” – see:
  • Accepting that corporate treasury departments need to “take the paying out of buying”, see:
  • Remembering that “If you are not measuring it, how can you manage it?”. See
  • Never forgetting that “It’s the questions stupid” that should drive your corporate treasury department – see: - which starts with “What business are you in?”

* Professor Peter Drucker, known as “the founder of modern management” and who wrote 39 books which have become classics in modern management theory, died 2005.

Like this item? Get our Weekly Update newsletter. Subscribe today

Also see

Add a comment

New comment submissions are moderated.