The recent economic environment has significantly increased the operational and strategic risks for companies operating all over Pakistan, requiring them to look for more innovative and creative ways of managing their businesses. The strategic planning and budgeting process as practiced in many organisations, fails to deliver any real value, and often does not produce the impact that is expected. While most organisations set goals and develop strategic plans, they can be effective only if a company can accurately measure and monitor its progress.
To be effective all such initiatives must be measured and monitored, and the entire organization must be aligned to these goals. Accountability and monitoring in these difficult times have gained renewed importance and activities such as budgeting can no longer be carried out in isolation without keeping in full view the strategic plan of the organization. Based on recent surveys it has been highlighted that there is a clear divide between budgets and strategy. As a result, the budgeting process in most organizations is found to be highly ineffective and hardly delivers any tangible value. Yet organizations insist on spending valuable management time in the budgeting process.
This program is designed to give business executives a tactical perspective on their businesses, with particular attention given to leading strategically in today’s difficult economic environment to ensure achievement of corporate goals and objectives.
This programme is ideal for:
- Senior business executives of medium and large enterprises.
- Finance executives who participate in the strategy process in their firms and/or are responsible for planning controlling and accounting systems.
- Business executives moving from a functional position to a general management position.
- Finance executives who are responsible for budgeting process in the organization.
- CFOs and Senior Vice Presidents of Finance in rapidly growing organizations.
During this programme, the participants will learn to:
- Understand core concepts and frameworks that contribute to strategy development.
- Translate your company's mission and business strategy into a comprehensive set of performance targets and measures.
- Examine how strategic plans are underlined by realistic cash plans and budgets.
- Deal in a proactive manner where actual cost/revenue differs from planned values.
- Understand relevant financial data and learn how it is collated.
- Differentiate between traditional and contemporary budgeting tools and understand why traditional budgeting fails.
- Analyze, understand, and communicate business strategy.
- Develop skills to lead their organizations with strategic insight and financial discipline.
Training Schedule Day 1 and Day 2
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9:30am – 10:00am
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Session 1 – Welcome
● Introduction
● Energizer activity
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10:00 am – 11:00am
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Session 2 – The Challenge – Aligning Strategy and Budgeting
· Understanding strategy and strategy development
· Levels of Strategy and role of strategic managers
● Budgeting and its role within the organization
● The budgeting process within organizations
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11:00am – 11:15am
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TEA BREAK
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11:15am – 12:15pm
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Session 3 – Strategic Management and Planning
· What is strategic management?
· The role of strategic managers
· Understanding the link between strategic planning, strategic management and budgeting
· The strategic planning process
· The Now, Where and How approach to strategic planning
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12:15pm – 1:00pm
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Session 4 – Experiential Activity
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01:00pm – 02:00pm
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Lunch
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02:00pm – 3:15pm
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Session 5 – Strategic Plan Development
· The Strategic Planning Process
· Setting Strategic Objectives
· Key Success Factors
· Developing Initiatives
· Developing KPIs
· Strategic Plan Format and contents
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3:15pm – 3:30pm
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TEA BREAK
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3:30pm – 4:30pm
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Session 6 – Aligning Budgeting with Strategy
· Budgeting Techniques
· Budgeting and Planning – How to make it work
· Developing comprehensive KPIs
· Uses of KPIs in management reporting
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4:30pm – 5:00pm
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Wrap up of Day 1
• Review of key lessons learnt
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9:30am – 10:00am
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Session 7 – Introduction to Day 2
● What I learned on day 1
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10:00am – 11:00am
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Session 8 – Introduction to Budgeting
- Role of Budgeting
- Advantages of Budgeting
- Budgets and Strategy
- Types of Budgeting
- How to make budgeting work
- Why does budgeting fail?
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11:00am – 11:15am
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TEA BREAK
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11:15am – 12:15pm
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Session 9 – Case Study - Budgeting
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12.15pm – 1.00pm
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Session 11 - Breaking Down the Silos
● Defining Silos
● Why do silos exist in organizations?
● How do you break down the silos?
● How does the breaking down of silos help in aligning budgeting and strategy
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01:00pm – 02:00pm
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LUNCH
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2:00pm – 3:15pm
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Session 11 – The Balanced Scorecard
● Balanced Scorecard - Purpose
● Balanced Scorecard - Components
● Building as a strategic management system
● Balanced Scorecard – Implementation
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3:15pm– 3.30pm
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TEA BREAK
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3.30pm – 4.15pm
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Session 10 – Experiential Activity
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4:15pm – 4.45pm
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Session 12 – Action Planning – Aligning Budgeting and Strategy
● What are the essential steps to bring about positive change?
● What tangible steps are you going to take?
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4:45pm – 5:00pm
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Wrap up of the Workshop
● Review of key lessons learnt
● The key takeaways
● Your plan of action
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Learning Outcomes
1. The program will provide the participants with the skill set to lead their organization/departments to success.
2. In this program, we will focus on translating the mission/vision/values into measurable targets, articulating a business strategy as a set of measures and targets, and then monitoring the strategy to gauge financial viability and effectiveness.
3. It is well recognized that despite the best developed strategic plans the organisations often fail to achieve the desired results. Having touched upon different approaches to Strategic Planning at length we will utilise the innovative concept of ‘the balanced scorecard’ which helps in aligning the strategic plans to the day-to-day operations to bridge the gap between strategy and execution.
4. There is a growing need for executives and directors in business who not only understand their business but are also capable of preparing effective cash management and budgeting plans. As business leaders strive to sustain profitability, they must also satisfy the demands of all their stakeholders and pay due regard to corporate governance practices. The workshop focuses on budgeting and financial planning as a means of enhancing corporate governance within the organization.
5. You will return to your company better prepared to make the key financial and strategic decisions that drive organizational performance—even in uncertain times.
Amer Qureshi
is a highly experienced, Australian Chartered Accountant and Management Consultant with an excellent track record in executive management and professional services sector across several industries and in many countries.
Apart from CFO/senior management positions in construction, education and professional services sectors, Amer has also been a Director with Deloitte Australia and the CEO of his own Professional Services Firms in Australia, Pakistan and Dubai. Amer has worked extensively in Pakistan and helped leading companies with strategic planning, training and development and has also been a faculty member of LUMS as well as being the Director of Entrepreneurship and SME Centre.
His financial management skill set, strategic planning expertise and in depth understanding of family owned and small and medium sized enterprises make him an invaluable advisor to business owners and their families as well as boards of directors.
He is highly regarded for his excellent presentation and communication skills and prides himself on his ability to motivate and inspire people. A sought-after speaker and presenter at events and conferences, he is highly respected for his unique and engaging presentation style.
Amer is also a successful published author in the areas of Leadership, Business Management, Tax and Financial Planning.
PKR 125,000 + 5% SST (Inclusive of Course material, IBA Workshop Certificate, Lunch, Refreshments & Business networking)
IBA CEE Cancellation Policy for Open Enrollment Programs:
In the event of participant's cancellation, the following schedule will apply:
- 5 days before start of workshop - No cancellation
- Within 4 to 2 days prior to workshop Half program fee forfeiture
- Within 1 day and No Shows - Full program fee forfeiture
Cancellation notification must be made in writing to CEE.
Postponement
Due to any unavoidable circumstances, the workshop may be postponed by the institute. In case of postponement, the institute will refund full fee of the program or the participant may opt to defer his/her registration to the next program.
Substitute
Substitutes will be taken at least 2 days prior to the workshop. Should we be unable to accept your application for any reason, your payment (cheque/draft) will be returned to you.
Deferrals
All registrations deferrals must be requested in writing at least 2 days prior to the workshop. Send a note to the Program Registration Team indicating that you wish to have your registration deferred to another session of the same program within one year. The deposited fee will be carried forward. Please note that only one transfer is permitted. After one year, the deposited fee will be fully forfeited.
