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Strategic Management Cost Management: PG Double-Credit Course |
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.
