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11 May 2011
ED HUNTER made himself look a bit silly on The Apprentice last night.
The PwC/ICAEW qualified accountant was the first of the 16 bluff business bombasts unceremoniously booted off the show.
There is certainly an argument that he did the image of the profession no favours in terms of his attitude to his qualification (wants to move away from accountancy as quickly and as far as possible).
He also talked of being a businessman, entrepreneur, which was nothing to do with being an accountant. Again, not great PR for an industry that should play a vital role in steering the course of businesses through stormy waters to great riches.
Hunter also let himself down by failing to realise that a big market for his orange juice would be the breakfast pre-work market...
But we're talking about Hunter here, rather than the show in general.
The most interesting thing to come out of last night's show was Lord Sugar's defence of the profession.
Hunter had failed to use his accounting skills in the task, said Sir Alan. He pointed out that the majority of senior businesspeople and executives come from an accounting background. Even the ICAEW was moved this morning to point out that it remains the most popular breeding ground for future CEOs with 14 of the FTSE 100 chief execs qualifying with ICAEW, compared with 11 last year.
If anything, it felt to me as if Sir Alan was making an effort to convince the TV audience that he was most let down by Ed because he had a great skillset at his disposal, tools that should have given him a head-start on the others.
Overall, I thought The Apprentice was a good advert for the profession - albeit a net gain.
Picture credit: BBC/Talkback Thames
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Visitor comments Add your comment
A fair assessment
I've been surprised by the number of accountants who seem to be up in arms about the whole affair. I think it betrays an insecurity we have as a profession about how we are treated with nonchalance by society as a whole.
I can't remember the last time an accountant was on the tv saying anything that a mainstream audience would love or loathe.
If a Lawyer was on a tv show, acted like an idiot, ignoring key principles of their profession. I'm not sure if anyone would question if they damaged the reputation of their profession.
Perhaps as accountants we need to learn from doctors and lawyers, they are accepted professions that appear in the media in a variety of ways as experts and as fictional characters and tend to be judged as individuals
Posted by: Jonathan Lamptey, 11 May 2011 | 17:06
entrepreneurialism and FDs
"...businessman, entrepreneur, which was nothing to do with being an accountant" - I don't agree Kev! it has an awful lot to do with being a modern FD. Read our blog on it at http://www.financialdirector.co.uk/financial-director/analysis/1933420/entrepreneurial-businesses-fd
Posted by: Mel - editor, Financial Director, 11 May 2011 | 17:27
Why did we need to defend our profression?
I am rather lost as to why Edward wanted to join the profession in the first place. A profession whose guidelines clearly state:
Ethical behaviour plays a vital role in ensuring public trust in financial reporting and business practices and upholding the reputation of the accountancy profession.
(ICAEW guidelines)
Yes Lord Sugar had good words to say about accountants – I should have thought that most successful business people would say the same.
The fact that he needed to say it is the issue.
If Edward cannot be proud of our profession then leave it now please – before we all get tarred with the same brush!
Posted by: Elaine Clark, 11 May 2011 | 17:35
Top company
Working in a big company may not has diversify skills that a business looking for. As he may be good at one thing.
Posted by: Chee, 11 May 2011 | 22:48
More opportunity lost than reputation damaged
Lord Sugar talks about margins a lot in his autobiography and really understanding costs and influences down to the last penny.
He seems very proud of that level of understanding and the strengths that accountants can bring to sensible business decisions and leadership.
If there was ever an opportunity for an apprentice candidate to show that financial understanding on a task then it was there for Edward to demonstrate and use whilst leading the team.
I don't think it's a damaged reputation as lots of people have seen this as just being silly. I do think however it is a lost opportunity for the show to have had someone who could have shown the team on this task especially with a focus on new business start ups, how margins work and drive decisions and entrepreneurship.
:)
Posted by: Maxxy, 11 May 2011 | 23:27
Why this happened
The skillset & training to prepare accounts causes some to assume themselves entrepreneurs ... like some football fans who think that because they go to matches they become - over time - quasi equals with the coaching staff.
As one qualified in accounts and a successful entrepreneur - that is I make real money with a non-accounting business that I've grown by reinvesting profits not dumping in 1 pence of persobnal savings, I speak from a source of experience and education.
So it's an arrogance that should be discouraged in the profession. Stick to what you know & don't get puffed up unless you've actually acheived some of the labels you stick on yourself.
Everyone's really an X-factor Rock Star in waiting, yeah?
JR
Posted by: Jason Richardson, 13 May 2011 | 12:47
Skills Edward needs more of
Edward Hunter's accountancy skills prepared him for adding up numbers (or checking someone else had added them up) but did not prepare him to deal with situations where there is so little evidence on which to base numbers. This was his technical weakness, and I fear it is common for many with the same background as him.
As an ACA I did exams (a long time ago!) that provided very little help on what to do in the face of high uncertainty. As an auditor with PwC (like Edward) I learned little about how to deal with this, though lots about how to point out mistakes by others.
Now, having written two books about how we work under conditions of uncertainty, I think I know a bit more.
At the end of the last series I wrote an article about the role of uncertainty in Apprentice tasks called "Luck and The Apprentice". It's here http://www.workinginuncertainty.co.uk/apprentice.shtml
If anyone is interested I could write something more specific to Edward Hunter's problem and discuss how accountancy skills can be used to help deal with uncertainty better. Just let me know.
Posted by: Matthew Leitch, 04 Jun 2011 | 13:20
Skills Edward needs more of
Edward Hunter's accountancy skills prepared him for adding up numbers (or checking someone else had added them up) but did not prepare him to deal with situations where there is so little evidence on which to base numbers. This was his technical weakness, and I fear it is common for many with the same background as him.
As an ACA I did exams (a long time ago!) that provided very little help on what to do in the face of high uncertainty. As an auditor with PwC (like Edward) I learned little about how to deal with this, though lots about how to point out mistakes by others.
Now, having written two books about how we work under conditions of uncertainty, I think I know a bit more.
At the end of the last series I wrote an article about the role of uncertainty in Apprentice tasks called "Luck and The Apprentice". It's here http://www.workinginuncertainty.co.uk/apprentice.shtml
If anyone is interested I could write something more specific to Edward Hunter's problem and discuss how accountancy skills can be used to help deal with uncertainty better. Just let me know.
Posted by: Matthew Leitch, 04 Jun 2011 | 13:20
Skills Edward needed more of
Edward Hunter's accountancy skills prepared him for adding up numbers (or checking someone else had added them up) but did not prepare him to deal with situations where there is so little evidence on which to base numbers. This was his technical weakness, and I fear it is common for many with the same background as him.
As an ACA I did exams (a long time ago!) that provided very little help on what to do in the face of high uncertainty. As an auditor with PwC (like Edward) I learned little about how to deal with this, though lots about how to point out mistakes by others.
Now, having written two books about how we work under conditions of uncertainty, I think I know a bit more.
At the end of the last series I wrote an article about the role of uncertainty in Apprentice tasks called "Luck and The Apprentice". It's here http://www.workinginuncertainty.co.uk/apprentice.shtml
If anyone is interested I could write something more specific to Edward Hunter's problem and discuss how accountancy skills can be used to help deal with uncertainty better. Just let me know.
Posted by: Matthew Leitch, 04 Jun 2011 | 13:21