Who Should Attend:
This 100% practical programme requires a minimum of 12 participants.
- Managers, Supervisors and Team Leaders who analyse, forecast and plan
- Sales Managers who make decisions that impact sales and operations
- Team Members
Participants play all the major roles in an operating company – production, R&D, sales and marketing, management and finance – to get first-hand experience with:
- Team decision-making in each area
- Generating financial statements
- Preparing budgets and forecasting cash flow
- Calculating basic ratios
- Comparing operating income and ratios to that of competitors
- Implementing change and measuring results
- Using ratios and other measurements to identify the ‘buttons’ which drive company performance and behaviour
- Taking initiative in everyday activities leading to reductions in costs, inventories and working capital
- Working creatively with customers and suppliers
- Interpreting operating reports and financial reports
- Prioritising and controlling costs
- Targeting profit opportunities
- Using historical and competitive bench-marking to improve your bottom line
- How to better serve internal and external customers
- Seeing how actions impact other areas of the company.
What will you gain?
By the end of this course you will be able to explain:
- Basic financial statements and their management uses: Income Statement (P&L) and Balance Sheet
- How market conditions impact business decisions
- The difference between cash and profit
- Fixed and variable costs
- Cost structure and capacity utilisation
- Budgets and cash flow forecasts
- The impact of inventory build-up
- The need to control working capital
- Ratios as metrics for management (ROA, ROI)
- The specific financial metrics used by your company to gauge performance, and why they are used
- Effects of strategy changes.
The content is based on a team competition consisting of six business cycles in which teams have full decision-making power and are accountable for the results. In each cycle, teams develop and implement a business strategy for their company, which incorporates real-world dynamics, such as production capacity, customers, prices and financing.
Each cycle includes the following activities:
- Competitor and market analysis
- Setting prices in a competitive market
- Monitoring cash flow
- Preparing an Income Statement, Cash Flow Statement and Balance Sheet
- Posting, comparing and discussion of results
Teams have opportunities to improve their companies with real-world business solutions including expansion, quality initiatives and niche marketing
Finance learning is integrated within the simulation activity include cash flow forecasting, budgets and unit cost analysis.