Implementing Strategy
- Intermediate
- 18 and older
- $3,624.98
- Virtual Classroom
- 20 hours over 5 sessions
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American Management Association @ 1601 Broadway, New York, NY
Unlock the power of finance and accounting to enhance your decision-making skills and boost your value in the organization. Gain confidence in interpreting financial reports, drafting budgets, and justifying your ideas in dollars and cents. This program from the American Management Association equips non-financial managers with the essential financial skills needed to succeed in any industry.
Apr 29th
9am–4:30pm EDT
Meets 2 Times
You need to reshape your business for the new normal. The strategy and business plan are in place, but how do you convert that into action. How do you make the changes happen that will deliver value in the new world? There’s never been more pressure on the CFO to deliver results.
Your organization needs to deliver efficiently and effectively. You need to have control of costs, prioritize the right things, and need the flexibility to change tactics. As the senior finance leader, you need to be on your toes. You don’t just need to be an expert in accounting, you need to be an expert in business change too. You need to help and guide your fellow managers to spend wisely. In this 5 session course, we go beyond budgeting to more effective and agile ways of managing cost.
Do you know who your most profitable customers are? Do you know the true cost of each of your products or services? Does your pricing reflect the full cost of serving the customer? What drives cost and value for money in your organization?
This information is vital, especially as you build your strategy, but rarely available. The problem is that the information from your accounting systems is designed for external reporting and to meet tax requirements. There’s a big difference between accounting information and the true economics of the business.
We consider how to move beyond budgets to provide an agile financial management system that is focused on delivering the business strategy. When it comes to cost management no one tool is ever right for all circumstances so we look at a variety of tools you can use to maintain a financially efficient and effective organization and a guide to when it is most appropriate to use each one. We also look at what happens when a business has the challenge to make a step-change in its cost base and give a range of ways the CFO can help his team to take cost out of the organization.
The course introduces the concepts of activity-based costing for the small and medium business and then develops these in a practical workshop teaching how to build and use costing models.
Over 5 days we investigate practical ways you can implement your new strategy. We look at:
At the end of this seminar you will:
Learning Objectives
Who Should Attend
The course is aimed at the business finance manager. You are likely to:
Topics
Day 1 - ZBB
Day 2 – Taking Cost Out of the Organisation
Day 3 – Supplementing ZBB with ABC
Day 4 - Practical workshop looking at how to build an ABC model
Day 5 – Managing business change
Prerequisites
A grounding in financial management information will be useful in this course.
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