Managerial Planning

 

Undertaking a major expansion project is a time-consuming and resource-consuming task for an organization of any size. Investing in training is key to success in corporate management. The following outline is for a training session recommended as a refresher prior to undertaking a major expansion project.


Discussion of critical dimensions involved in long-term business planning:

-          Key factors relevant to company’s future progress

-          Appropriate techniques to be utilized in forecasting future developments

-          Data sources to aid in supporting strategic choices

 

Theory and application of capital budgeting

-          Why is formal planning imperative and must use a capital budgeting framework that compares benefits and costs

-          Complexities of Investment planning – rates of inflation, data availability, relevant rate of return, measuring expected cash flows

 

Management Information Systems and Financial Control

-          Operational budgeting and importance of period comparison of actual and budgeted profit performance

-          Currency translation in international scenarios versus measuring performance in local currencies

-          Group exercise: measuring the impact of chosen methods

 

Strategic Costing

-          Market-driven costing versus behavioral costing

-          Group exercise: measuring the impact of chosen methods

 

Performance evaluation of operations

-          Importance of consistent approach across units

-          Unit versus managerial performance

-          Establishing performance criteria and performance standards

-          Best practices in performance evaluation

 

Group exercises will include the following cases from Harvard University:

 

Finance Simulation: Capital Budgeting By Timothy Luehrman:

In this single-player simulation, participants can act as members of the Capital Committee of New Heritage Doll Company, tasked with selecting and allocating capital across the company's three divisions.…: https://hbsp.harvard.edu/product/3357-HTM-ENG

Assessing a Company's Future Financial Health By Thomas Piper

The case provides students with (1) an understanding of the essence of long-term financial health; (2) familiarity with the calculation and meaning of various financial ratios; and (3) an understanding of the influence of a company's operating and competitive characteristics on its investment in various type assets, on the profitability of these investments, and on the financial structure of its balance sheet. The case also allows a discussion of (1) the incomplete and lagging nature of financial measures; (2) the influence of financial measures on behavior; and (3) the reality that financial analysis often results in better, more focused questions to be asked of management, not conclusive answers: https://www.hbs.edu/faculty/Pages/item.aspx?num=39642

This training framework has been suggested by AllaVolodina who teaches in university and corporate settings. Alla has created a variety of detailed training outlines and course outlines (at York University) aimed at improving efficiency and effectiveness of operations.  Check out AllaVolodina blog for more articles: allavolodina.com.

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