Our strategy

2004 - 2010 strategy

Focus

We have taken the longer view to devise the organisation's strategy from 2004 to 2010. We have established that CIMA should continue operating as a global membership body within the terms of its charter, providing a professional organisation for chartered management accountants and the wider environment of accountants in business. Our focus will continue to be to qualify students, to support members and employers and to protect the public interest.

Influence

CIMA is a member of the International Federation of Accountants (IFAC), which is the global organisation for the accountancy profession. The aim of IFAC's Professional Accountants In Business (PAIB) Committee is to evolve the global development and exchange of knowledge and best practice. PAIB also builds public awareness of the value of professional accountants. Bill Connell, Chairman of CIMA's Technical Committee, chairs the PAIB, and Charles Tilley, CIMA's Chief Executive is a member of the main IFAC board.

CIMA is also a member of the European Federation of Accountants (FEE), which gives us an influence on developments at the European Commission, the European Financial Reporting Advisory Group and other key bodies in the European Union. CIMA has quarterly meetings with the Accounting Standards Board and ad-hoc meetings with the Department of Trade and Industry. We are currently promoting the public affairs content of our research and development more heavily, and we will continue to increase our contact with ministers and MPs to raise the profile of our work as a membership body.

Reputation

Chartered management accountants are highly regarded for their business, management and accounting competence; their professional standards; and the positive contribution they make to commercial life. We aim to promote and develop the science of management accountancy, building on our recognition as the authoritative voice on financial and business management issues in our chosen markets.

Recognition

CIMA is achieving differentiated brand recognition of its products and services, and this is down to its focus on employers' and members' needs. Markets are developed and serviced on the basis of their global position and economic strength; the presence of international organisations; and the strength and sustainability of CIMA's assets.

Employer demand

CIMA promotes the unique skills of its members. Employers in our chosen markets recognise that our qualifications provide the knowledge, training and experience to drive their businesses. CIMA qualifications help firms to turn finance staff into strategic business managers - according to a 2003 survey by Robert Half Finance & Accounting, "new entrants to the profession seem to be choosing the more commerce-focused CIMA".

We provide a practical framework for all levels of financial management skills required by organisations. Employers will support our new CIMA Professional Development (CPD) framework because it provides the best possible service tailored to their needs. It gives them, through their CIMA members, a cutting edge.

The public interest

The confidence of stakeholders and the public shows that CIMA members have impeccable technical, management and ethical standards. CIMA ensures that all material lapses by members below the standards reasonably expected of them are dealt with in an open and transparent way.

Student retention and conversion

CIMA's share of target recruitment markets, combined with its rates of student retention and conversion, shows that people who want to succeed with a financial underpinning to their careers always choose to take CIMA qualifications.
At all levels of qualification, CIMA:

• provides a recruitment and support framework, in partnership with employers, educationalists and others, that enables competent students to become members;
• recognises and promotes the success of students;
• maintains a relationship with members and students.

Operational efficiency and effectiveness

We employ skilled and knowledgeable people to design, implement and operate processes that deliver our strategic goals. CIMA will achieve its objectives only by having:

• ethical and professional standards that are respected by employers, the government and all other stakeholders in the financial activities of the private and public sectors;
• qualifications that evolve to meet employers' changing needs;
• a continuing professional development framework that supports both members and employers in enhancing their professional competence;
• a market-focused development and delivery process that provides a range of products and services that can be adapted to meet the needs of different members and markets;
• a membership structure that recognises and supports those who have achieved any of CIMA's qualifications, and which encourages applications for membership;
• a student support structure which ensures that individuals who are recruited are trained and retained at the level of attainment that is appropriate to their needs and those of their employers;
• governance and management processes, which determine and deliver CIMA's goals effectively and demonstrate best practice consistently, that allow members to contribute to their professional body in innovative and reputation-enhancing ways;
• a technical agenda which ensures that an authoritative CIMA voice is heard in all spheres of influence, and which supports members in their career development;
• adequate resources - for example, high-quality members of staff who are continually developed and deployed effectively.

Opportunity

From 2004 to 2010 the rates of growth and retention of membership will show that CIMA's qualification provides a step up in earning power and job satisfaction, and a platform for future career development.

Members will:

• know that the subscription fee provides excellent value for money when they consider the earning power it represents;
• engage in lifelong learning using a CIMA service platform that keeps them ahead of the competition throughout their careers;
• see CIMA as supportive at all points of contact.

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