Sessions​​ 

Outline Content

Your People will be able to…

Pre Training

• Individual briefing

• Option: pre training quiz

• Consider their individual learning objectives

• Assess their own current knowledge level​​ 

Introduction & Learning Objectives

• Outline Agenda

• Overall Objectives

• Personal Learning Objectives

• Describe their individual learning objectives

Finance & Strategy – the bigger picture

• Team Question: how do you grow an organisation?

• The Balanced Scorecard

• Define how finance fits with strategy and vision

• Describe where KPIs come from, and which are most relevant to their role

• Describe company & department strategy and Vision, and how this connects with their responsibilities

The Language of Finance

• Income Statements

• Cakes and slices

• Relevant example*

• Describe the purpose of the main financial statements

• Define the components of each

• Understand financial terminology​​ 

• Describe an Operations Manager’s contribution to the overall financial performance​​ 

The Nature of Costs

• Fixed & Variable Costs

• Relevant examples – discussion & exercises*

• Define fixed & variable costs and their application

• Describe how a company may cover its costs

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Managing Budgets​​ 

• Budgets: ​​ What how & Why

• Flight plans - ​​ analogy

• Advantages & Disadvantages

• Set Out New Budget –do costs first Then do income to cover​​ 

• How can they cut costs?

• Control & Influence

• Describe the purpose of budgets

• Define the differing methods of budgets & budget management

• Define methods of forecasting & planning