Home » Seminars » Finance & Budgeting » Strategic Cost Management in an Economic Downturn

As of the moment, this course is currently not available on our training portfolio.
If you wish to inquire or request a run for this seminar, e-mail us at info@glomacs.ae or call us at +971 (04) 425 0700

Introduction

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 training 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

Objectives

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 seminar 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

Training Methodology

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

Organisational Impact

The organisation will benefit from the knowledge, principles and practical skills that the delegates will be able to apply in response to the challenges of an economic downturn, specifically:

  • A strategic approach to cost management and reduction
  • Awareness of the need to focus on delivering value to key stakeholders
  • Knowledge of cost structure and behaviour and how to reduce costs
  • Practical tools and frameworks to manage organisational performance
  • Appreciation of managing resistance to organisational change

Personal Impact

Delegates will benefit from the principles and practical skills passed on through this training seminar that will put them firmly in the position of being able to take an active leading role in their organisation in strategically managing and reducing costs, whilst maintaining the creation and delivery of value to key organisational stakeholders. The training course will enhance delegates skills, develop their roles and improve their career prospects by:

  • Developing a strategic approach to solving organisational challenges
  • Framing their own decision-making in terms of stakeholder value
  • Improving knowledge of cost behaviour and structure
  • Applying a strategic approach to cost management and reduction
  • Using proven approaches to managing change

Who Should Attend?

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

Seminar Outline

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

Accreditation

  • Quality Logo

In Association With

PetroKnowledge

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

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Home » Seminars » Finance & Budgeting » Strategic Cost Management in an Economic Downturn

VAT Announcement: The Government of UAE have introduced Value Added Tax (VAT) on goods and services from 01-January-2018. In compliance with the legislation issued by the UAE Government, we will be applying a 5% VAT on the fees for all our programs and services offered from January 2018 as applicable and stipulated in the FTA circulars.

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