HRODC Postgraduate Training Institute, Providing Postgraduate Diploma; PG Certificate; & PG Short Courses, in Dubai, London, Kuala Lumpur, Colombo, New Delhi, Islamabad, Abuja, Accra, Lagos, Lusaka, Paris, Wolverhampton, Birmingham, Banjul, Amman, Doha, Kuwait, Cairo, Manama, Nairobi, Jeddah, etc. & Online.

Seminar or Course Number 040 - Strategic Management and Strategic Cost Management Course, Leading to Diploma - Postgraduate - in Strategic Management and Strategic Cost Management, 36 Credit-Hours, accumulating to a Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours. Contents include Strategic Management and Strategic Cost Management Course - Balanced Score Card, including cost management information, costing, period costs, direct costs, indirect costs, Indirect Costs, cost behaviour, fixed costs, variable costs, costing approaches, absorption costs, variable costing, under-costing, over-costing, costing and profitability, costing in recession, economic costing, credit crunch costing,  costing systems, activity-based costing, ABC, cost-management, cost hierarchy, Cost drivers, costing resources, costing activities, Activity-based management, ABM, ABM and ABC  costing and value creation, budgeting, approaches to budgeting, fixed budgets, flexible budgets, static budgets, rolling budgets, zero based budgeting, activity based budgeting, master budgets, costing and budgets, budget variances, variance analysis, costing continuous improvements, variance analysis factors, cost planning, costing decisions, costing cycle, costing life cycle, target costing, target pricing, development costing, target costing, target pricing implications, pricing influence, cost incurrence, locked-in costs, cost plus pricing, product budgeting, absorption pricing decisions, costing control systems, costing and performance measurement, performance management, financial performance, non-financial performance, performance measurement, accounting-based performance, performance measure, rate of returns, return on investment, ROI, EVA, strategic performance measurement, balanced score cared, management accountant, incentive systems, cost management and strategy, corporate strategy, strategy implementation, cost and cost analysis, cost behaviour and cost estimation, standard Costing, cost planning and Budgeting,  strategic performance measurement, decision making with relevance costs, strategic cost  emphasis

 

Course Co-ordinator:        

Prof. Dr. R. B. Crawford is Course Coordinator. He is the Director of HRODC Postgraduate Training Institute, A Postgraduate-Only Institution. He has the following Qualifications and Affiliations:

Doctor of Philosophy {(PhD) {University College London (UCL) - University of London)};

MEd Management (University of Bath);

Postgraduate (Advanced) Diploma Science Teacher Ed. (University of Bristol);

Postgraduate Certificate in Information Systems (University of West London, formerly Thames Valley University);

Diploma in Doctoral Research Supervision, (University of Wolverhampton);

Teaching Certificate;

Fellow of the Institute of Management Specialists;

Human Resources Specialist, of the Institute of Management Specialists;

Member of the Asian Academy of Management (MAAM);

Member of the International Society of Gesture Studies (MISGS);

Member of the Standing Council for Organisational Symbolism (MSCOS);

Member of ResearchGate;

Executive Member of Academy of Management (AOM). There, his contribution incorporates the judging of competitions, review of journal articles, and guiding the development of conference papers. He also contributes to the Disciplines of:

Human Resources;

Organization and Management Theory;

Organization Development and Change;

Research Methods;

Conflict Management;

Organizational Behavior;

Management Consulting;

Gender & Diversity in Organizations; and

Critical Management Studies.

Professor Dr. Crawford has been an Academic in the following UK Universities:

University of London (Royal Holloway), as Research Tutor;

University of Greenwich (Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

University of Wolverhampton, (Wolverhampton Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

London Southbank University (Business School), as Lecturer and Unit Leader.

His responsibilities in these roles included:

Doctoral Research Supervisor;

Admissions Tutor;

Postgraduate and Undergraduate Dissertation Supervisor;

Programme Leader;

Personal Tutor.

 

For Whom This Course is Designed

This Course is Designed For:

 

Duration: 6 Days

 

Cost:  £6,000.00 Per Delegate                      

 

The course cost does not include living accommodation. However, delegates are treated with the following:

 Free Continuous snacks throughout the Event Days;  

 Free Hot Lunch on Event Days;                           

 Free City Tour;             

 Free Stationery;                               

 Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

 

HRODC Postgraduate Training Institute’s Complimentary Products include

HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt.

 

Daily Schedule: 9:30 to 4:30 pm.

 

For Whom This Course is Designed

This Course is Designed For:

General Managers

Managing Directors

Finance Managers

Strategic Planners

Chief Executive Officers (CEOs)

Chief Operations Officers (COOs)

Chief Financial Officers (CFOs)

Senior Level Managers

Business Owners

Entrepreneurs

Cost and management accountant

Financial planners and cost analysts

Senior managers who supervise people with financial responsibilities

Financial and budget controllers who are moving to wider responsibilities

Managers who need to know more about business planning, budgeting, costing terms and techniques.

Managers who have to plan, cost and budget new business ventures.

Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives.

First appointment managers on fast-track development Programmes

Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods

 

Course Objectives

 

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

Provide a succinct definition of strategy, that 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 a 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

Demonstrate a heightened understanding of Economic Value Added (EVA)

Explain what is meant by Return on Investment (ROI); and

Explore, conceptually and contextually, the changing role of managers and management accountants in designing incentive systems.

 

Course Contents, Concepts and Issues

 

Parts 1 & 2: Understanding Strategy and Strategic Relations

 

Strategy: A Definition

The ‘Strategy Process’

Characteristics of Strategy
Defining Strategic Management

Understanding Strategic Decisions

Implications of Strategic Decisions

Levels of Strategy

What Is A Strategic Business Unit?

Relating Strategy to an Organisation’s:

Mission

Vision

Goal

Objective

Strategic capability

Strategies

Business model

Control

The Corporate Strategy Model

Strategic Position;

What Are Strategic Choices?

The Concept of Synergy

The Synergistic Effect of Strategic Alliance

 

Part 3: Cost Management and Strategy: Conceptual Framework Concepts

 

The Use of Cost Management Information

The Issue of “Costing”

Creating Cost-Aware Organizations

Review of Some Key Cost Concepts

Product vs. Period Costs

Direct and Indirect Costs

Cost Behaviour: Fixed and Variable Costs

Problems and Examples

 

Parts 4 & 5: Different Approaches to Costing

 

Absorption (Full) vs. Variable Costing

Under-Costing and Over-Costing: The Consequences for Profitability

How to Refine a Costing System?

Activity-Based Costing (ABC) and Cost-Management

Cost Hierarchy and Cost Drivers;

Linking Resources, Activities and Management

Introducing Activity-Based Management (ABM)

Linkages between ABM and ABC – Monitoring

Value Creation

Fixed and Flexed Budget (Static and Flexible Budget)

Rolling Budget

Zero Based Budgeting

Activity Based Budgeting

Master Budget

From Costing to Budget: Interpreting Variances (Variance Analysis)

Integrating Continuous Improvement into Variance Analysis.

Problems, Case Study and Exercises

 

Part 6: Control Systems and Performance Measurement

 

Financial and Non-Financial Measures of Performance

Designing an Accounting-Based; Performance Measure

Economic Value Added (EVA)

Return on Investment (RIO)

Strategic Performance Measurement: Balanced Scorecard

New Role for Managers and Management Accountants in Designing Incentive Systems

 

Content summary of Strategic Management and Strategic Cost Management Course or Seminar, Leading To  Diploma - Postgraduate - in Strategic Management and Strategic Cost Management: Cost management information, costing, period costs, direct costs, indirect costs, Indirect Costs, cost behaviour, fixed costs, variable costs, costing approaches, absorption costs, variable costing, under-costing, over-costing, costing and profitability, costing in recession, economic costing, credit crunch costing,  costing systems, activity-based costing, ABC, cost-management, cost hierarchy, Cost drivers, costing resources, costing activities, Activity-based management, ABM, ABM and ABC  costing and value creation, budgeting, approaches to budgeting, fixed budgets, flexible budgets, static budgets, rolling budgets, zero based budgeting, activity based budgeting, master budgets, costing and budgets, budget variances, variance analysis, costing continuous improvements, variance analysis factors, cost planning, costing decisions, costing cycle, costing life cycle, target costing, target pricing, development costing, target costing, target pricing implications, pricing influence, cost incurrence, locked-in costs, cost plus pricing, product budgeting, absorption pricing decisions, costing control systems, costing and performance measurement, performance management, financial performance, non-financial performance, performance measurement, accounting-based performance, performance measure, rate of returns, return on investment, ROI, RoI, EVA, strategic performance measurement, balanced score cared, management accountant, incentive systems, cost management and Strategy, corporate strategy, strategy implementation, cost and cost analysis, cost behaviour and cost estimation, standard Costing, cost planning and Budgeting,  strategic performance measurement, decision making with relevance costs, strategic cost  emphasis.