For executives, understanding the financials is a key leadership competency
Many leaders treat their annual accounts as a necessary evil. Something which has to be done, but is handled by the finance director or the auditors. The Directors sign off the accounts, but that's as far as it goes. Understanding the accounts is seen as a dry subject, best left to the auditors.
We view this as, quite simply, a mistake. In fact, great executives and managers will understand the financial position of their organisation, not only the sales and costs, but the trends of the organisation. They'll be able to identify key warning indicators in good time. They'll be able to incorporate strong financial awareness into the strategy process.
Our Strategic Financial Management Workshop enables non-financial mangers to easliy grasp accounting fundamentals
and incorporate them into the decision making process.
The workshop is fully participative using case studies to examine business challenges energing from a lack of financial discipline. We are not accountants, but rather mangers who utilise smart analysis tools to establish trends, make decisions and enhance strategy;
- Understanding accounts; how they are constructed and what they are for
- Analysing accounts to establish trends
- Identifying key business risks and implementing corrective action
- Funding new activity such as buying new assets; options from bank to equity funding
- Using financial analysis to build the strategy
Understanding the nature of the organisation's financial performance is a critical process for the leadership team.
"Success in business requires training and discipline and hard work. But if you're not frightened by these things,
the opportunities are just as great today as they ever were."
(David Rockefeller 1915- )