The CFO Series provides a convenient, one-stop way for CFOs and those who aspire to be CFOs, to an entire year of CPE with a single decision. Each day consists of a subject matter expert leading discussions about four different topics. The CFO Series features high-quality presentations and an interactive, executive level colleague-to-colleague approach with case studies, group discussions, and team exercises.
Learning Objectives
- Understanding the issues that drive the bottom line and discovering ways to make improvement happen. Learn more about pricing for profitability, cost control and increasing throughput
- Understanding the issues that drive asset utilization and discovering ways to make improvement happen. Learn more about the cost of capital, asset utilization, and choosing an appropriate process
- Understanding the issues that drive risk, why it matters, and discovering ways to make improvement happen.
- Understanding four components of marketing. How finance and marketing can work collaboratively to drive superior financial performance.
Major Topics
- Introduction to the three levers – Income, Asset Utilization, and Risk.
- Cost control
- Waste elimination
- Lean, Total Quality Management, and Six Sigma
- Simplification – A case study in how complexity is an insidious profit killer
- Activity based costing
- Understanding what drives cost and how to control cost
- Accounting practices that are antithetical to good cost control
- Getting the message across and generating action
- Where are the good ideas buried?
- Increasing volume
- How effective is your advertising and promotion?
- What is your unique selling proposition?
- Are you stifling innovation?
- Pricing
- Pricing for value not cost recovery
- Understanding competition
- Looking for the ‘blue ocean’ opportunity
- Cost of capital
- What do investors want?
- What does my capital really cost?
- How can we approximate the cost?
- Utilizing the Du Pont Formula in a discounted cash flow world
- Increasing asset utilization
- What should we do, and what should we allow others to do?
- Buying the right equipment at the right price
- Increasing throughput
- Complexity – the capacity thief
- Process choices
- Should we automate?
- Lease or purchase
- Impact of automation on risk and return
- Why is risk relevant?
- What do investors want?
- How do statisticians look at risk?
- How do economists look at risk?
- Prospect theory
- Your risk profile
- Risk appetite
- Risk tolerance
- How do you monitor risk?
- Heat maps
- Risk is everyone’s job.
- Managing risk
- Avoid,
- Transfer,
- Mitigate, or
- Accept
- What is the function of Marketing?
- Creating demand, building reputation
- Inform and educate customers and potential customers.
- Marketing plans
- What must be in a top-quality plan?
- Coordination with strategy and financial ability 1 – Products and services
- Why do customers buy, or not buy, your offerings?
- Core products, actual products, augmented products 2 – Price
- Pricing is market driven, not cost driven!
- Cost leaders vs differentiators
- When to increase price when to reduce price 3 – Place or channels
- Effective and efficient channels
- Alternative channels 4 – Promotion
- Promotion alternatives and cost effectiveness
- Coordinating the 4Ps to gain maximum results
