Strategic Planning, Management Control and Effective Budgeting Course

Course Overview:

The course is particularly useful for professionals whose work requires them to harmoniously blend strategic management, leadership and financial control functions in an organization.

The learners will understand how to strategize, manage risks and use negotiations as a tool to meet the aims of an institution. Fresh perspectives are introduced to the rationale of budgeting through concepts such as zero based budgeting and cost-volume-profit analysis which are some of the fundamental tenets of the course.

However, other sophisticated methods such as Activity-Based Costing (ABC) and Balanced Scorecard are also included in the course. 

The course addresses the challenge of understanding the role of leadership in the implementation of strategies taking into account objectives such as team motivation, innovation and change management. The program is appropriate for managers, business leaders and other professionals involved in making strategic and financial decisions.

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