Strategic and Financial Planning ensures accountability while aligning the entire business with actionable and achievable goals and objectives. This involves setting and committing to new standards of performance with built-in contingencies for all plans. Periodic reviews and links to operational plans help to make the strategy a reality.
This intensive programme will enable you to learn the many benefits of Strategic and Financial Planning, including:
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Improved planning, implementation, and results
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Improved strategic leadership
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Better utilization of core competencies and recognition of next competences needed
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Integration of strategy, finance, and operations
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Realization of sustainable competitive advantage
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Greater understanding and willingness to change
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Stronger commitment to goals and objectives
WHO SHOULD ATTEND?
This programme is designed to go beyond the theoretical. It is mandatory in today’s dynamic world to be able to link strategy with financial performance.
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Executive level managers with strategic and/or financial responsibility
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Senior level managers who need to understand strategic implementation and its financial impact
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Middle level managers in operations, finance, operations, engineering, planning, procurement and any other area affected by strategic decisions
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Those whom are held accountable for financial performance
PROGRAMME OBJECTIVES
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To introduce the concept of strategy making and its benefits
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To understand the role of leadership in strategy making
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To understand the link between involvement and accountability
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To provide insights into developing implementation plans
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To develop an actionable financial plan with controllable milestones
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To understand the pitfalls of strategic planning
TRAINING METHODOLOGY
This programme will be highly participatory and your trainer will present, guide and facilitate learning, using a range of methods including discussions, case studies and exercises. Where appropriate, these will include real issues brought to the programme by delegates.
You will experience first hand in a complex environment the application and the value of concepts that underpin translating strategy formulation into implementation and into results. The simulation, Balancing the Corporate Scorecard, is the platform for this unique learning experience. Participants are divided into teams each managing a company in an intensely competitive market environment. Lagging, current, and leading indicators will be identified and used to succeed.
Lessons learned from the simulation may be applied to the strategic plans of your own organisation. Key performance indicators (KPIs) for the critical success factors (CSFs) will focus attention on high priority action plans for taking back to your organisation.
PROGRAMME SUMMARY
Financial performance does not come by accident. In today’s world, we have to develop good unique strategies, implement them correctly, set financial targets and meet them. This programme shows delegates how this is done – the right way. In a good market a lot of errors are hidden. This programme will prepare you for the other” times, where we have to perform or we fail.
PROGRAMME OUTLINE
DAY 1 - What is strategic and financial planning
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The role of strategy in business and why it matters
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The ingredients of a good strategy
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Customer analysis and market segmentation
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Effective strategy making processes with proper financial planning
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Tools for understanding industry developments
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The core strategic financial choices for a business
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Who is responsible for strategy making and who should be held accountable?
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Lessons Learned
DAY 2 - Integrating strategic and financial planning with operational management
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Contrasting management with strategic leadership
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The competencies of strategic leadership
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The top manager as strategist
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The CFO as strategist
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Using Scenario analysis and environmental scanning
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SWOT and other acronyms
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Corporate Culture and its effect on strategy and financial planning
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The operational manager’s role in strategy
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Lessons Learned
DAY 3 - Using objective evidence for strategic and financial planning
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Analyzing the market and the customers
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Understanding the competition
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Financial analysis: past, present, and future
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Knowing the core strengths and weaknesses of your business
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Identifying your core competitive advantage
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Developing Vision statements that make a difference
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Developing mission statements that make a difference
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Examining alternative strategies
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Creating the strategic plan
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Lessons Learned
DAY 4 - Implementing the strategic and financial plans
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Preparing the ground for change in the business via financial planning
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Communicating the strategy and control points
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Overcoming internal political resistance
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Reviewing and measuring progress with proper variance analysis
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Turnaround and corrective measures
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Managing implementation as a continuous process
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Lessons Learned
DAY 5 - Becoming a leader of strategic financial planning
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Building strategy making and implementation into the role of managers at all levels
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Developing strategic leadership capability
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Creating organizational commitment to the business strategy
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Leading strategy making teams effectively
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Incentive systems
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Balanced Scorecard and other performance management systems
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Realistic action planning
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Lessons Learned
