The Bottom Line

 

Income-Outcome Creates
 
  • A clear understanding of business dynamics, and how they are represented in financial statements and analytical tools.
      
  • Practical communication with other departments and levels, based on the common language of finance and a shared understanding of the business
      
  • A decision-making environment that includes all departments of a business, while using standard financial tools, concepts and measures.
When your employees understand business — when they understand the impact of their actions and decisions on the company — they make better decisions and improve the company's results and strategic position. They will understand the financial reasons for changes in policy, and become more supportive of senior management, even in difficult times.  Morale increases, everyone is more productive, and they take more ownership in the business.
 
  • Hourly employees impact both the income statement and the balance sheet through everyday decisions and actions. We show them how they do it, why they need to strive to keep the company healthy, and how to improve their performance and decision-making.  
  • Salespeople learn that the sales they negotiate have enormous impact throughout the company; on profit obviously, but also on cash flow, production, and customer service. They improve their ability to understand their customers’ needs and structure win-win sales.
  • R&D professionals gain an insight into the finance department's concerns with time.  They write more thoughtful proposals, which tie up less capital or pay for themselves more rapidly.
  • Production supervisors learn to visualize the tradeoffs in their daily production scheduling decisions, and to understand the impact of their inventory and production decisions on the rest of the company. This allows them to control costs and inventories more closely.
  • Finance personnel increase their ability to behave proactively. They experience the difficulties inherent in making operational commitments before the outcome of their market strategy is known. They also experience the ‘do or die’ of the market, and learn the value of rapid, tactical response.
  • Managers become better managers.  Because they have a big picture understanding, and see the interconnected relationships and impacts, they make better plans. Because they have acquired the language of the finance department, they write better reports.  And because of the shared understanding of the needs of the business, there is increased trust and support.

  • Everyone gains a shared understanding of the business, a language of finance to explain concerns, and a mutual respect and team spirit that comes from understanding other departments. With common language and shared understanding, there is increased speed and accuracy of communication. 

 

Program Details Competencies