Catalogue

Description

Part 1: Strategic management: The tools to compete in the era of rapid change

Its a rapidly evolving world today, and success demands the ability to plan at both the strategic and tactical levels. In this two-part course participants will learn how strategic analysis, strategic and tactical plans, and the budgeting process interact with one another. They will also learn the underlying core concepts and process of successful planning and budgeting.

In this first of Beckers two-part series on Strategic Management you will examine corporate planning, budgeting and forecasting processes. Gain a valuable introduction to budgeting concepts and the critical role that planning plays in the budgeting process as you prepare yourself for real-world applications. After completing this session you will be able to:

• Planning: Identify the distinct activities in the strategic planning process.
• Define and recognize the characteristics of the four components of strategic positioning.
• Understand the influence of operating environment on operational and tactical planning.
• Define capacity planning and structural/executional cost drivers.
• Identify the steps followed in Value Chain Analysis Define and recognize the process of contingency planning.
• Budgeting: Recognize the components of a master budget and the characteristics of successful budgeting.
• Define and recognize the types of operational performance measures.
• Define the term strategic business unit and recognize the characteristics of the four types of SBU’s.
• Define ideal, currently attainable, authoritative and participative standards and recognize examples of standards development.

Part 2: Strategic management: The tools to compete in the era of rapid change

Its a rapidly evolving world today, and success demands the ability to plan at both the strategic and tactical levels. In this two-part course participants will learn how strategic analysis, strategic and tactical plans, and the budgeting process interact with one another. They will also learn the underlying core concepts and process of successful planning and budgeting.

The second part of this two-part course will use formulas and realistic examples to illustrate effective budgeting systems appropriate in today’s fast-changing corporate environment while exploring the forecasting process. After completing this session you will be able to:

• Recognize the purpose, mechanics, benefits, and limitations of various budgeting methodologies: Annual; Project Based; Activity Based; Zero Based; Continuous/Rolling; Kaizen; Flexible.
• Recognize the purpose, characteristics and process used to develop the components of the annual profit plan, including:
  • Operating budgets (sales, production, direct materials, direct labor, overhead, cost of goods manufactured and sold, and selling, general administrative)
  • Financial budgets (cash budgets, pro forma financial statements, capital budgets)