Strategic & Financial Planning
Strategic & Financial Planning
OBJECTIVES
- To introduce the concept of strategy making and its benefits
- To understand the role of leadership in strategy making
- To understand the link between involvement and accountability
- To provide insights into developing implementation plans
- To develop an actionable financial plan with controllable milestones
- To understand the pitfalls of strategic planning
WHO SHOULD ATTEND?
- Executive level managers with strategic and/or financial responsibility
- Senior level managers who need to understand strategic implementation & its financial impact
- Middle level managers in operations, finance, operations, engineering, planning, procurement and any other area affected by strategic decisions
- Those whom are held accountable for financial performance
COURSE OUTLINE
DAY 1 – What is strategic and financial planning
- The role of strategy in business and why it matters
- The ingredients of a good strategy
- Customer analysis and market segmentation
- Effective strategy making processes with proper financial planning
- Tools for understanding industry developments
- The core strategic financial choices for a business
- Who is responsible for strategy making and who should be held accountable?
- Lessons Learned
DAY 2 – Integrating strategic and financial planning with operational management
- Contrasting management with strategic leadership
- The competencies of strategic leadership
- The top manager as strategist
- The CFO as strategist
- Using Scenario analysis and environmental scanning
- SWOT and other acronyms
- Corporate Culture and its effect on strategy and financial planning
- The operational manager’s role in strategy
- Lessons Learned
DAY 3 – Using objective evidence for strategic and financial planning
- Analyzing the market and the customers
- Understanding the competition
- Financial analysis: past, present, and future
- Knowing the core strengths and weaknesses of your business
- Identifying your core competitive advantage
- Developing mission statements that make a difference
- Examining alternative strategies
- Creating the strategic plan
- Lessons Learned
DAY 4 – Implementing the strategic and financial plans
- Preparing the ground for change in the business via financial planning
- Communicating the strategy and control points
- Overcoming internal political resistance
- Reviewing and measuring progress with proper variance analysis
- Turnaround and corrective measures
- Mergers and Acquisitions that produce the plans expected
- Managing implementation as a continuous process
- Lessons Learned
DAY 5 – Becoming a leader of strategic financial planning
- Building strategy making and implementation into the role of managers at all levels
- Developing strategic leadership capability
- Creating organizational commitment to the business strategy
- Leading strategy making teams effectively
- Incentive systems
- Balanced Scorecard and other performance management systems
- Realistic action planning
- Lessons Learned