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Strategic Management and Strategic Cost Management Course

By: HRODC Postgraduate Training Institute

United Kingdom

04 - 09 Dec, 2017  6 days

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GBP 6,000

In 21st century business environment, effective strategic management is critical to the success of the firm or organization and is thus a pervasive theme of this seminar. The growing pressures of global competition, technological innovation, and change in business processes have made cost management much more critical and dynamic than ever before. Managers and management accountants must think competitively; doing so requires a strategy. Because strategic issues are increasing in importance to management, cost management has moved from a traditional role of product costing and operational control to a broader, strategic focus: strategic cost management.

Strategic Cost Management is the development of cost management information to facilitate the principal management function, strategic management. Cost management information is a broad concept and includes information that the manager needs to effectively mange the firm or not-for-profit organization and included both financial information about costs and revenues as well as relevance non-financial information about productivity, quality, and other key success factors for the firm.

By the conclusion of the specified learning and development activities of Strategic Management and Strategic Cost Management Course, delegates will be able to:

  • Provide a succinct definition of strategy, which demonstrates it conceptual internalization
  • Exhibit a heightened understanding of the ‘strategy process’
  • Deconstruct strategic decisions, highlighting their major characteristics
  • The difference between strategy and strategic management, on the one hand, and operational management, on the other
  • Provide a contextualized definition of a strategic business unit (SBU)
  • Distinguish between differing organizational levels, in relation to management and decision-making
  • Determine the differences in strategic priorities in relation to specific organizational levels – viz. Corporate, business, and operational
  • Exhibit a heightened understanding of the ‘corporate strategy model’
  • Understand the basic vocabulary of strategy, as used in different contexts
  • Define, with own organization’s examples, the issue of ‘strategic position’
  • Illustrate the factors influencing effective strategic choice
  • Demonstrate a heightened awareness of the concept of synergy, in the context of effective organisational functioning
  • Elucidate the contextual relationship between strategic alliance and 'synergistic gains'
  • Provide a heightened illustration of the purpose of cost management information, citing relevant examples
  • Deconstruct the issue of costing, exploring the different types and levels, as appropriate;
  • Outline the measures necessary for an organisation to take in order to create cost awareness
  • Suggest the benefits that will accrue as an organisation embraces cost-awareness
  • Demonstrate a mastery of key concepts relevant to cost management
  • Distinguish between product costs and  period costs
  • Exhibit a heightened understanding of direct costs, as opposed to indirect costs
  • Use suitable examples to explain cost behaviour, in relation to fixed and variable costs, respectively
  • Solve problems relating to cost behaviour and cost management
  • Provide an acceptable and factual explanation of the relationship between activity based costing (ABC) and cost-management, generally
  • Illustrate the cost hierarchy, exploring their association with cost drivers
  • Effectively link resources, activities and management - indicating their collective and paired relationship
  • Suggest the context within which activity-based management (ABM) might be appropriate
  • Elucidate the linkages between ABM and ABC
  • Exhibit a heightened understanding of how value is created
  • Provide a working definition of fixed or static budgets, on the one hand, and flexed or flexible budgets, on the other
  • Indicate a simple definition, with relevant examples, of rolling budget
  • Suggest the value of zero-based budgeting, in relation to effective cost management and general organisational effectiveness
  • Provide suitable examples of activity based budgeting - in such a way that non-cost management managers can understand the underlying concepts and issues
  • Give a simple but effective explanation of a master budget
  • Indicate the importance of variance analysis, as a migration from costing
  • Integrate continuous improvement into variance analysis.
  • Provide a heightened understanding of financial and non-financial measures of performance
  • Design an accounting-based performance measure 
London, United Kingdom Dec 04 - 09 Dec, 2017
GBP 6,000.00 + 300.00 (VAT)(The course cost does not include living accommodation. However, delegates are treated with the following: Continuous snacks throughout the Event Days; Hot Lunch on Event Days; City Tour; Hand-outs; Stationery.)
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+44 7736147507; +44 1902 763607; +44 2071935906

We offer very attractive discount for groups of 3 and more people, from the same organisation, taking the same course. Courses are delivered in over 30 Cities including Miami, London, Dubai, Kuala Lumpur, Paris, Milan.
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