Financial Management in Industrial Companies
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The purpose of this new course is to increase the speed, accuracy and effectiveness in the decision-making and control processes in industrial companies - by broadening the circle of managers and other key people with competence in how to interpret and actively use financial information and financial tools.
The new volatile business landscape decreases the room for mistakes and waste rapidly. Even more important; the window to capture various opportunities opens and closes faster. Organisations will simply have to act faster and thus in a more decentralised way, and with even better understanding and control of the financial requirements and the financial consequences.
The new volatile business landscape
- An accelerated development and deployment of digitalisation. The latter comes on various levels in a multi-layer stack: IoT, big data, data science, analytics, AI, machine learning, Industry 4.0, 3-D printing, servitisation, new business models, eco-systems, blockchain, cybersecurity
- Stagnant economic growth
- New geopolitical realities, e.g. Trump, Xi Jinping, trade conflicts, Brexit and strong nationalistic agendas
- Pressing environmental challenges, e.g. global warming, air pollution and shortage of fresh water
- The project perspective
- Cash flow
- The period perspective
- Income statements
- Balance sheet
- Strategic footprints in financial reports
- Financial KPIs
- Financial strength
- Product and service costing
- Make a message stick
- Negotiating financial matters
Presentations of own projects/initiatives
Albeit the headlines look generic, the content is tailor-made to the specific needs of industrial companies, as well as the specific needs of the participants. The latter according to an initial diagnostic test.
Who should attend
This new course is for non-financial managers and other key people, having a significant impact on the financial performance of their companies.
Companies mostly with a history in developing, manufacturing and selling tangible products. Companies now taking on the challenges and opportunities in the new volatile business landscape. The participants have at least 8 years of professional experience and are often members of a management team (or will likely soon to be). The participants often share the experience of feeling hampered by having difficulties in understanding, or being able to use, arguments in “lingua economica”.