NAA event – Lean Means Beans – Understanding the financial implications of improvement activities, 25 September 2012, PfL, Halewood

Start date: 25/09/2012
Cost: See Pricing structure in Article

A practical insight for managers driving improvement activities – this one-day course empowers delegates to be more effective in getting their message across by tackling the two main barriers they usually face: a lack of confidence in financial literacy and inappropriate financial measures. The sessions are highly participative and cater for all entry levels of financial experience from those who consider themselves financially illiterate to those with substantial previous exposure to financial issues.

9am – 5pm, 25 September 2012, PfL, Halewood

 “ …the biggest waste in western manufacturing is the skills and talents of 80 percent of the workforce.” Maskell

 To harness the skills and talents of the workforce and encourage everyone to buy into the improvement process, businesses typically hand-pick a few evangelists to spearhead the campaign and convert the masses. All too often the messengers are sent forth with little more than a good understanding of the tools and techniques available. Without a clear understanding of what to change and also why the business needs to change to remain competitive, evangelists are vulnerable to challenges from sceptics, which they are ill-equipped to handle.

 Course Agenda – Forging the Link

9.00 – 9.15                 Introduction

You’re in business to make money – so it’s important to identify and break down the barriers that can impede a clear understanding of the link between improvement activities and enhanced financial performance.

9.15 – 10.30               The Business Financial Model

Improving financial understanding by giving delegates the opportunity to participate in building a simple model of how businesses work in financial terms. A common-sense approach is used with a minimum of accounting jargon.

10.30 – 10.45             Coffee

10.45 – 11.15             The Business Financial Model (continued)

11.15 – 12.30             Profit is not the same as Cash Flow

A role-play is used to demonstrate the difference between Profit and Cash Flow. This then leads to an explanation and discussion of the 5 ‘levers’ the business must pull to generate both.  

12.30 – 13.00             Lunch                   

13.00 – 13.30             Measuring what matters

‘You get what you measure’ – so you need to make sure that what you’re measuring motivates ‘good’ behaviours.

13.30 – 14.45             Costly mistakes

Cost ‘information’ is used in a wide range of decision-making. Traditional approaches to costing will be discussed and examples given of how these can lead to both poor decisions and confusion in ‘finding’ the benefits of improvement activities.

14.45 – 15.00             Tea

15.00 – 16.00             Working together to Forge the Link

Looking at ways in which accountants and those involved in improvement activities can work together to find better ways of reporting on ‘performance’ so that the potential offered by ‘enablers’ are recognised and realised.

 16.00 – 16.15             Course review and feedback

Pricing Structure

• Tier 1 : £300.00 + vat [Members of NAA]
• Tier 2 : £390.00 + vat [Non-Members]
• Tier 3 : £150.00 + vat [SME Excellence Member]

 Please contact Zoe Desoer to reserve a place(s) z.desoer@nwautoalliance.com