Name: Strategic Cost Management in an Economic Downturn Training Course
Rating: 4.7 (1076 reviews)

Why Choose this Training Course?

In a volatile global business environment and particularly during an economic downturn there is intense pressure to create and deliver value to key stakeholder groups with minimum waste and maximum cost efficiency. Customers demand quality at the right price, funding providers expect a return on their investment that reflects the risks in today’s global market for capital.

The most successful organisations have used strategic cost management to balance these challenging demands. This highly practical course provides valuable insights in to how delegates can apply these cost management principles in their own organisations.

This training course will feature:

The nature of modern global competition
Understanding the nature and behaviour of costs
Strategies for planning and managing costs
Modern techniques for strategic cost reduction
Overcoming barriers to achieving cost reduction

What are the Goals?

The training course intends to provide delegates with the principles and practical skills to manage and reduce costs in an economic downturn.

At the end of this training course you will be able to:

Analyse the modern global business environment
Understand and explain the nature and behaviour of costs
Use a strategic performance framework to plan and manage costs
Apply modern quality focused strategic tools to reduce costs
Anticipate and overcome common barriers to cost reduction initiatives

Who is this Training Course for?

The training course is designed to provide useful insights and practical guidance to managers from a full range of backgrounds and industry sectors, but particularly those facing the challenges of major market and price changes.

This training course is suitable to a wide range of delegates but will greatly benefit:

Professionals responsible for significant functions and budgets
Design professionals and designers
Production managers
Purchasing and supply chain professionals
Marketing and sales team
Finance heads and budgeting managers

How will this Training Course be Presented?

Participants to this training course will receive a thorough training on the subjects covered by the course outline with the Tutor utilising a variety of proven adult learning teaching and facilitation techniques. Training methodology includes: participative seminars, discussion groups and hands-on case studies.

Daily Agenda

Day 1: The Context and Drive for Cost Reduction

The global competition for customers and investors
Creating and measuring stakeholder value
The drive for quality and customer value
Developing a winning business model
Building strategic capability through key resources and competences

Day 2: Understanding and Planning for Costs

Key costs in global business
Approaches to understanding cost behaviour
Tools for analysing and forecasting business costs
A framework for strategic performance management
Identifying and using appropriate cost measures and targets
Assigning responsibility for managing and controlling costs

Day 3: A Strategic Approach to Managing and Reducing Costs

Planning and budgeting for costs
Assigning responsibility for managing and controlling costs
Modern approaches to value and cost reduction
A strategic approach to cost reduction
The need for urgency in strategic cost reduction
Overcoming resistance to change

Certificate

On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

In Association With

Visit Website

Would an alternative date be more suitable?

We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.

Related Categories

Finance & Accounting

Subscribe To Our Newsletter

Strategic Cost Management in an Economic Downturn