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Finance For Non-financial Managers - Nigeria


285,000.00

Course Overview

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About the Programme

All companies including financial Service companies around the world are facing pressure to reduce costs and improve profitability.  The focus is on pursuing ways to operate more efficiently and effectively. This is not only due to deteriorating market conditions and pressure from shareholders, but also to the need to satisfy ever-increasing customer expectations with improved service quality.

It has been suggested in recent literature that for most banks, return on equity in recent years has fallen from 25 per cent to around five per cent. Institutions are now under severe liquidity pressures due to loan losses, often anaemic organic growth, a tight credit environment and generally weak economy. High cost bases and inflexible, redundant operations are no longer acceptable.

In order for companies and financial institutions to restore profitability as economy rebounds, companies ought to recognise the need to be strategic with cost reduction efforts and be aggressive in the pursuit of this goal. By balancing short-term, tactical cost reduction initiatives with longer-term, sustainable cost management programs, Institutions can work to achieve cost reductions of 15 per cent to 30 per cent. The paradigm of long-term cost base optimisation without jeopardising or even reducing service quality requires a holistic approach to strategic cost management.

This five day course is designed to equip all Staff involved in the strategic planning process with the tools and know how to achieve this objective.

Course Objectives

At the end of the course each delegate will be able to

  • Understand the relationship between strategy and management accounting

  • Define, measure, manage and assign relevant costs and indirect costs

  • Use analytical tools, such as activity-based costing, customer profitability analysis and strategic profitability analysis in assessing the performance of an organization with respect to its strategy

  • Conduct, analyse and recommend on value chain analysis

  • Understand the rationale behind business process reengineering and how it relates to an entity’s strategy

  • Analyse and evaluate the impact of activity-based management on strategic planning

  • Understand and describe the relationship between product pricing, costs and quality

  • Understand and evaluate the strategic management behind capital expenditures

  • Analyse information within different decision frameworks such as planning, control and performance measurement and evaluation

  • Balance tough cost management with core values, team motivation and growth.

Who Should Attend

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This course will benefit

  • Finance Directors/CFOs

  • General Managers/ Head of Departments

  • Divisional Heads

  • Financial Controllers

  • Senior Cost Controllers

  • Finance Managers

  • Operations  Managers

  • Auditors and Internal Control

  • Accountants and Consultants

Course Outline

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Overview of Strategic Management

  • Strategic Management: Creating competitive advantage
  • Strategic planning and implementation, strategic failure
  • Strategy implementation obstacles

Organisational Cost reduction program

  • Leadership: how managers can take the lead and set the tone

  • Techniques and tactics: generalised ideas, approaches and analytical frameworks

  • People: how to tackle the most difficult cost area, full-time staff and the role HR

  • Suppliers: all other cost categories, from raw materials to outsourced service

  • The internet and globalisation

  • Lateral thinking: how to turn conventional thinking about cost on its head

  • Cost management as strategy in areas such as M&A, pricing and new growth opportunities

  • ‘Intelligent’ v ‘unintelligent’ cost management

  • Cost containment: how to pre-empt cost growth

  • How the finance function can be strategic leader on cost

  • Cost in the public sector

Operating Cost Analysis: Case Study – "Financing" gridlock ","

  • Industry value chain and enterprise value chain

  • Business process analysis and operational activities.

Activity Based Management

  • Design  of products and services

  • Pricing, product features, quality, delivery and service with customers

  • Efficient and effective distribution and service processes

Customer Profitability:

  • How to learn from ‘lean practice’ (including value stream costing, target costing and lean accounting)

  • How to use process maps and cost drivers to identify and eliminate non-value costs

  • How to use lean practices in both manufacturing and service organisations

  • How to find strategic and profitable products and customers (and deal with those that aren’t)

  • How to reduce expenses (such  as travel, marketing, IT, etc) using various techniques and practices including benchmarking, shared services centres, internal markets, outsourcing and peer scrutiny

  • Case examples include Toyota and Fujistu

  • Lean Thinking: Value Chain Analysis Case Study – "Reorganization value chain" Steps of value chain cost analysis,

  • Value chain analysis of the use, to enhance understanding of the issues proceeds.

  • Case study – "Acer: 6,000 miracle

 

Operational Excellence (OE):

  • Balancing service quality and effectiveness with cost of delivery
  • Alignment and optimisation of organisation’s processes, technology and partnerships.

 

Outsourcing:

  • Factors to Consider
  • Benefits of outsourcing
  • Strategies for Outsourcing
  • Pitfalls to avoid
  • Risk management and outsourcing

Location, Pricing & Dates

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This programme is a scheduled course but available as an in-house programme at the clients preferred location (Minimum Class size 10) Contact our client liaison team corporate@capworthtraining.com to discuss running this programme in house.

Earlier Event: December 2
IFRS for Oil and Gas sector - Nigeria