OVERVIEW
This 2-day training program is designed specifically for manufacturing managers who want to gain a deeper understanding of financial principles, business and financial acumen, and the impact of decisions on financial health. The program will also explore entrepreneurship, including identifying business opportunities, developing a business plan, and understanding the legal and regulatory environment for entrepreneurs. Through interactive sessions and real-life case studies, participants will learn to assess risk, make informed decisions, and turn problems into opportunities.
By the end of this course the participants will be able to:
- Gain a comprehensive understanding of financial principles, including income, savings, spending, and investing.
- Enhance business and financial acumen and understand the impact of operations on financial health.
- Learn how to connect decisions to the financial health of a team, department, or organization.
- Acquire skills in risk management and decision-making for manufacturing managers.
- Discover the entrepreneurial mindset and learn how to turn problems into opportunities that create economic and social value.
- Master the basics of financial management for entrepreneurs, including raising capital, budgeting, and tax planning.
- Apply the principles and tools learned in the program to real-life situations in their manufacturing operations.
- Typically spans 2 days (9am to 5pm).
- Nonetheless, we can customize both the program’s duration and schedule to cater to unique client requirements (e.g., compact 1-day workshops or extended sessions beyond 3 days).
- Managers and team leaders
- Sales and customer service professionals
- Project managers
- Human resources professionals
- Professionals seeking career growth
PROGRAM OUTLINE
- Overview of Income, Savings, Spending, and Investing
- Preparation of Income Statement
- Understanding Key Financial Ratios
- Analysis of Spending and Investing Decisions
- The Impact of Financial Insight on Decision Making
- Analyzing Business Cases
- Understanding the Impact of Operations on Financial Health
- Inter-departmental Dependencies
- Roles and Responsibilities of Different Departments and Functions
- Guided Principles of Accounting Policies and Manual
- Understanding the Entrepreneurial Mindset
- Identifying Business Opportunities
- Developing a Business Plan
- Understanding the Legal and Regulatory Environment for Entrepreneurs
- Tools for Risk Management Assessment
- Identifying Clear Decision Makers
- Minutes and Facts of Tracking Progress of Actions Taken
- Understanding the Root Causes of Problems
- Creative and Innovative Solutions to Address Problems
- Using Investment to Create Economic and Social Value
- Raising Capital for Your Business
- Budgeting and Cash Flow Management
- Understanding Financial Statements for Entrepreneurs
- Tax Planning for Entrepreneurs
- Summary of Key Takeaways
- Action Planning and Next Steps
- Q&A and Feedback
PROGRAM METHODOLOGY
- Hands-on Activities: Practical exercises to reinforce theoretical concepts.
- Group Discussions: Opportunities for peer-to-peer learning and exchange of ideas.
- Role Plays: Simulations of realistic situations to build practical skills.
- Feedback Sessions: Reviews and reflections to encourage improvement.
- Problem-solving Exercises: Develop critical thinking and decision-making skills.
- Experiential Learning: Learning by doing, promoting active involvement.
- Interactive Lectures: Engaging presentations by experts in the field.
- Case Studies: Real-world scenarios for learners to apply their knowledge.
- Quizzes & Tests: Regular assessments to track learning progress.
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