Strategic Planning, Management Control and Effective Budgeting Course
Corporate Finance, Banking and Auditing
Select Other "city & date"
Strategic Planning, Management Control and Effective Budgeting Course
Introduction:
Developing Strategies, Risk Analysis, Negotiating, Budgeting, and Cost Control are essential skills for those who are dedicated to maximizing their performance and value-added contribution - and that of the people who work for them. As the business environment becomes ever more uncertain and turbulent, the requirement for professional leadership and management throughout organizations is at a premium. Hence, these skills learned in this course provide a structured and coherent framework for addressing the challenges which professionals face in respect of both their day-to-day and longer-term responsibilities.
Course Objectives:
After end of Strategic Planning, Management Control and Effective Budgeting course, participants will be able to do:
- Develop an appreciation & understanding of each of the elements of the course
- Understand how skills interact creating a systemic approach to mastering the essential tasks of any leader
- Develop the skills and applications needed to master and integrate each individual element
- Utilize the elements in achieving individual, team, and high organizational results
- Identify priorities for continued professional development
Who Should Attend?
This training course is suitable for a wide range of professionals, but will greatly benefit:
- Current and potential Managers and Business Leaders at all levels
- Those responsible for developing and leading strategic changes
- Procurement and Client Service Managers responsible for negotiation strategies
- Functional Team Leaders in the public or private sector
- Staff Members responsible for budgeting and financial controls
- Non-finance Managers with financial responsibilities
Course Outlines:
Strategy
- Introduction to strategy - background, historical developments, major theories
- Strategic Management – a practical approach for every leader
- A consistent methodology for strategy development
- The relationships between vision, mission, and strategy
- The steps involved in developing a strategy
Risks
- The meaning and nature of risk
- Identifying the risks in a given strategy
- Prioritizing risks
- Contingency planning
- Risk mitigation strategies
Negotiation
- The everyday role and attitude of ‘Win-Win’ negotiating
- Power - gaining a superior position
- Strategy and Tactics in negotiating
- Understanding your opponent’s negotiating style and tactics
- Negotiating Countermeasures
Leadership
- The strategic role and nature of effective leadership
- Charisma and how to earn it and use it effectively
- The role of the modern leader and how leadership has changed
- Innovative Leadership skills
- Maximizing the performance of each team member
- Motivating the 'Average' employee
Strategic Leadership Workshop
- Intrapersonal style and skills
- Interpersonal and leadership communication skills
- Leadership and The Challenge of Change
- Strategic leadership for team development
- Developing a personal action plan for further self-development
Introduction: Building a Common Financial Language
- The key role of budgeting and cost control in contemporary organizations
- The 21st-century business imperative: delivering value-added (but to whom?)
- Financial vs. Managerial accounting (for decision making)
- Understand your processes: integrating financial and non-financial aspects
- The budgeting processes
- Examples & Discussion
The Budgeting Process
- The key features of budgeting
- Advantages and concerns with budgeting
- Accountability and centers of responsibility
- Zero-based budgeting
- Budgeting and cost control
- Examples & Discussion
Cost Analysis
- Different costs for different purposes
- Fixed vs. Variable costs
- The Cost-Volume-Profit analysis model
- Contribution Margin analysis
- Examples & Discussion
Traditional vs. Advanced Techniques in Cost-Control
- Under-costing and over-costing: the consequences for profitability
- Indirect (OH) vs. Direct costs
- Traditional Cost Allocations systems vs. Activity-Based Costing (ABC)
- Linking resources, activities, and management
- Variance analysis
- Video, Case Study, and Examples
Beyond the Budgets: Balanced scorecards and Six-sigma
- Broadening performance measurement systems
- Beyond budgeting: Integrating financial and non-financial issues
- Introducing the Balanced Scorecard
- Introducing the Strategy maps
- Introducing Six-sigma