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| Strategic Marketing
Management |
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| Finance for
Executives |
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| Leadership and
Team Effectiveness |
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Who Should Attend |
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 Non-financial
executives in every functional area of responsibility
in all industries will benefit from attending
this program. In particular, executives
in areas such as marketing, sales, manufacturing
or engineering as well as general managers
will find this program useful in improving
their personal effectiveness and the profitability
of their organizations.
Upon successful completion, students
will receive a certificate from the Yale
School of Management.
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| Learning Objectives |
| Day 1 and 2: |
First, you will understand better
how financial statements attempt to
provide key indicators of how the
company is doing. This should make
you more sensitive to the perspective
taken by the finance folks (both within
the company as well as the investors
sitting outside). The finance folks
don’t worry that much about the operating
decisions that are your responsibility,
they are focused on the best return
on their investment. Second, we will
develop the concepts needed to relate
those operating measures of performance
to the market value of the company.
Much of the discussion will be structured
around the information that is publicly
available for a Hong Kong company.
In addition to the financial statements
prepared by that company, we will
also examine reports written by research
analysts and debt rating agencies.
Key information for comparable firms
from the same industry will also be
brought to bear.
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| Day 3 and 4: |
Devoted to a better understanding
of the financial consequences of operating
decisions in firms. On Day 3, we examine
what data are relevant for making sure
that your decisions are financially
sound. For this purpose, all opportunity
costs and benefits should be included
in these decisions and all sunk costs
and benefits excluded. We also examine
the pitfalls of using routine use of
accounting data for making decisions,
and ways of making sure the data you
use serve your decision needs.
On Day 4, we examine the financial control
problems that arise when different managers
are responsible for different aspects
of business. Each manager has access
to some special information that others
do not have. Senior managers must find
a way of persuading their subordinates
to share such information. Pursuit of
their own self-interest makes managers
reluctant to share information. Management
of decentralized organizations must
solve this problem to achieve financial
success. |
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