While I'm waiting for my company brick ( the Dell) to reboot, I'll take a few minutes to catch up on my current program.
Well I had my first session as part of the University of Dayton's Emerging Leader Program. I jumped in on the Finance session. Overall the focus was on Finance for non-financial managers and leads students through the usual parade of balance sheet, income statement and statement of cash flows. Usually many managers (myself included) don't need to prepare such statements (finance department does that) but we need to interpret the data.
A key "take away" from the session was the use of financial ratios and a working exercise where we evaluated the effect of certain changes in these and the +/- effects. An example was on inventory turnover ratio and if it improved a slight amount it would clearly have a positive effect on inventory dollars. The fact we ran through many of these and worked it out in our teams allowed us to more completely understand the exercise.
I'm thinking I'll draw up a similar exercise for my work team and see if we can achieve a better understanding of our internal initiatives.
Overall a positive session that reinforced many concepts I've learned before (both in company finance training and my MBA) but a nice, clear, short - format session.
More to come - training session with my mentor next week.
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