Management & Business Finance

Get the key skills you need to manage and motivate your team. Also learn how to delegate to become a great all-round manager. This week will give you a deeper input into the essentials of finance to succeed in your everyday role.

 

Module 1 (2 Days)
Essentials of Management

Key Competencies

  • Becoming a great manager
  • Delegation strategies
  • Coaching skills
  • Communication skills
  • Motivating your team
  • Performance management

Learn, Practice and Use

  • Understand your management roles and responsibilities
  • Improve communication with your team & set expectations for you and your direct reports
  • Adapt your management style to meet the needs of individual team members
  • Communicate organizational goals that get results
  • Apply delegation strategies to increase productivity and motivation
  • Use effective coaching techniques to maximize your team’s performance
  • Recognize different types of work conversations
  • Define the goals of performance management
  • Understanding and using the conversational triangle in your management role
  • Practice delegation discussion in role plays
  • Share your knowledge and challenges with your peers and MCE’s highly experienced faculty

 

 

Full Module details

Defining Your Role as a Manager

  • Discovering the qualities and abilities required for effective management
  • Identifying the roles and responsibilities managers perform
  • Exploring the contextual issues and challenges that new managers face today

Continuous Performance Management

  • Defining the goal of performance management
  • Identifying the process and challenges
  • Practicing the skills of performance management

Module 3: Communication: Conducting Effective Work Conversations

  • Describe the importance of communication to effective management.
  • Recognizing the qualities of effective communication.
  • Understanding the process of communication and the barriers that can derail it.
  • Recognizing different types of work conversations.
  • Identifying the two key conversation skills.
  • Understanding and utilizing the conversational triangle

Coaching for Performance

  • Identifying the importance of and requirements for coaching
  • Learning the micro-skills of effective coaching
  • Confronting problem behaviours in a tactful manner
  • Using the AMA Guide to manage a coaching discussion
  • Differentiating between coaching and disciplining

Building a Motivational Climate

  • Recognizing the manager’s role in employee motivation
  • Exploring important elements of the motivational process
  • Utilizing managerial practices for building a motivational climate

Delegating for Growth and Development

  • Describing the types of delegation that managers can engage in
  • Identify the importance of, and the barriers to, effective delegation
  • Assessing your current delegation practices and their challenges
  • Recognizing what can and can’t be delegated
  • Identifying the phases of effective delegation
  • Practicing delegation discussion

Module 2 (3 Days)
Essentials of Business Finance: For Non-Financial Managers

Key Competencies

  • Business finance
  • Understanding financial ratios
  • Cost analysis & profit planning
  • Reviewing financial statements
  • Effective budgeting
  • Capital expenditure analysis

Learn, Practice and Use

  • Get a better understanding of the numbers side of your job
  • Learn how to “think finance” and use data to make better decisions
  • Develop proactive working relationships with finance professionals
  • Gain greater confidence with a working knowledge of business financials
  • Understand the business dynamics of cash —and take initiatives that meet your team’s, department’s or company’s short and long-term goals
  • Take the guesswork out of your decision-making and use financial data to deliver a better bottom line
  • Distinguish between capital expenditure budgets and operating budgets
  • Understand the role of budgeting and issues that budgets can solve

Full Module details

Basic Accounting Concepts

  • The Importance of the Accounting Equation
  • The Accrual Process
  • The Difference Between Accounting Profit and Cash Flow

Understanding Financial Statements

  • Understand the Purpose of and Terminology Associated with the Following Financial Statements
  • Income Statement or Profit and Loss Statement (P&L):
    • Balance Sheet
    • Statement of Retained Earnings
    • Cash Flow Statement
  • Prepare a Set of Simple Financial Statements
  • Understand the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements
  • Understand How Various Business Transactions Affect the Financial Statements

Reviewing an Annual Report

  • Various Components of an Annual Report
  • Importance of Notes in Evaluating Financial Statements
  • External Auditor’s Role and the Significance of the Opinion Letter

Evaluating a Company’s Financial Statements

  • Calculate the Key Financial Ratios Using the Financial Statements
  • Use Financial Ratios to Evaluate:
    • An Organization’s Liquidity, Leverage and Profitability
    • The Performance of an Organization as Compared to Its Competitors’
    • An Organization’s Performance Compared with Budgeted Goals
  • ​​Identify Sources of Financial Information Beyond the Financial Statements
  • Use the Dupont Formula to Evaluate Management Performance
  • Use the Concept of Economic Value Added (EVA(R)) and Cash Flow Return on Investment (CFROI) to Determine if a Segment of an Organization Is Adding Value to the Business

Improving Profitability Through Cost Analysis and Profit Planning

  • Differentiate Between Fixed and Variable Costs
  • Help Your Organization Improve Profitability Through the Use of:
    • Break-Even Analysis
    • Contribution Margin Analysis
    • Direct Costing in Appropriate
    • Understand Traditional Cost Accounting and Its Limitations
    • Understand the Relevance of Activity-Based Costing in Today’s Business Environment

Capital Expenditure Analysis

  • Distinguish Between Capital Expenditure Budgets and Operating Budgets and Understand the Function of the Capital Budget
  • Understand Why Cash Has a Time Value
  • Recognize and Apply Different Methods of Evaluating Capital Expenditure and Monitoring Project Performance

Budgeting More Effectively

  • Understand the Role of Budgeting and Issues That Budgets Can Solve
  • Understand the Budgeting Process
  • Identify Different Types of Budgeting Systems in Use Today
  • Analyze Budgets for Different Purposes
  • Recognize and Apply Different Methods of Evaluating and Monitoring Operating Performance

Dates & Locations

26 Feb – 1 Mar (London)
8 Jul – 12 Jul (Barcelona) 
5 Aug – 9 Aug (London)
18 Nov – 22 Nov (London)

Duration

5 Day(s)

Price

€3995

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