Counting and Growing Beans: Understanding the Drivers of Business Performance to Launch Your Career

Presenter: Thomas Conine, Jr., President of TRI Corporation & Professor of Finance, Fairfield University

Description

All business leaders need to be able to create and manage a budget. This can be a relatively simple process of making sure expenditures do not exceed agreed upon limits or, when one has responsibility for an operating profit and loss statement, quite complicated and require considerable expertise. Careers have been made or lost because of the ability or inability to understand, communicate and take effective action on how a business is doing relative to its plan. The difference between a budgeted amount and the actual amount over a specified period of time, in either absolute dollars or percentages, is commonly known as a variance.

The heart and soul of managing a small department or a global enterprise is in understanding the drivers of your business in the form of variances. Knowledge of operational finance, the language of business, is essential to successful applications of variance analysis. Understanding variances can enhance your company’s competitive advantage, Demonstrate effective risk management, and Increase the probability of meeting your commitments. Variances come in three fundamental types: Planning, Execution and Growth. Effective business leaders need a working proficiency of all three. The difference between good and great companies often is a function of how capable their leaders are at understanding each of these variances. Success will be measured in incremental shareholder value.

If you ever wondered where the business variance analysis graphics, so common during business/operational reviews, come from, then this webinar is for you.

What Will You Learn

• Develop and/or Enhance one's knowledge by understanding the relationship amongst profit levers (such as price) and financial variance analysis.
• Linking financial variance analysis into a risk management framework of controllable and uncontrollable variances.
• Understanding financial variances from planning, execution (meeting commitment) and growth perspectives.
• Being really prepared for your next business/operational review, and getting exposure to best practices across numerous industries.

Who Will Participate

Appropriate for any business leader interested in a holistic perspective of the drivers of performance operational finance as the language of business ... specific to senior management and anyone with profit and loss responsibility