Overview
Course Methodology
The course uses a mix of interactive techniques, such as presentations by the consultant, case studies, role plays, educational games, and group exercises to apply the knowledge acquired throughout the course.
Course Objectives
By the end of the course, participants will be able to:
- Explain the principles of good decision making
- Use data to make informed and better decisions
- Implement risk-based decision making techniques
- Develop essential financial literacy skills
- Use tools to implement successful decisions
- Apply critical thinking techniques to analyze their current business environment
- Structure a problem and break it down into smaller independent issues
- Create a work plan that prioritizes resources and focuses team efforts
- Analyze and interpret complex data
- Build structured arguments to communicate findings
Target Audience
Managers, department heads, and business professionals who are involved in decision making, planning, analysis, and developing strategies for their own departments as well as the organization.
Target Competencies
- Decision making
- Risk management
- Risk assessment
- Evaluation
- Budgeting
- Analytical thinking
- Financial decision making
- Problem management
- Problem solving ability
- Critical thinking
- Analysis of data
Course Outline
Week 1
- The principles of decision making
- The standard decision-making model
- The decision-making spectrum
- Townsend’s rules
- The RAPID model
- Recommend
- Agree
- Perform
- Input
- Decide
- Using data for better and informed decisions
- Lewin’s force field analysis of support and opposition
- Supporting forces
- Restricting forces
- Scenario analysis and charting possible futures
- Risk factor
- Cost factor
- Mapping stakeholders’ reactions
- Level of stakeholder power
- Level of stakeholder interest
- Dealing with the politics of decisions
- Lewin’s force field analysis of support and opposition
- Risk-based decision making
- Risk impact/probability chart
- The two primary dimensions
- Probability
- Impact
- Creating the chart using excel
- Decision tree analysis
- The two primary dimensions
- Decision points
- Chance points
- Application exercise
- Risk impact/probability chart
- Financial literacy for decision makers
- Capital budgeting and cost of capital
- Accounting Rate of Return (ARR)
- Payback Period (PP)
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Implementing your decisions successfully
- Round’s Trap model
- Task
- Resources
- Arithmetic
- Priorities
- Shewhart’s PDCA model
- Plan
- Do
- Check
- Act
- Lessons learned
- Round’s Trap model
- Business analysis overview
- Business analysis scope of work
- Your role as an internal consultant
- Active data gathering
- Generating creative solutions
- Intelligence versus creativity
- Choosing between alternatives
- Thinking strategically
- The three big strategic questions
- Key elements of a successful strategy
- Strategy and the quest for competitive advantage
- Porter's 5 forces impact Potential Industry Earnings (PIE)
- Creating and capturing value
- Conducting SWOT analysis
- Fundamentals of PEDESTL framework
- Structuring problems
- The importance of structuring problems
- Defining the right issue
- Dividing issues into manageable parts
- The use of logic trees in problem solving
- Prioritizing and planning
- Eliminating non-essential issues
- Prioritization methodologies
- Building an effective work plan
- Conducting analyses
- Getting the right data
- Types of research
- Primary research development
- Secondary research development
- Data analysis
- Communicating and presenting
- Turning data into findings
- Building effective arguments
- Communicating findings by telling a 'story'
- Story telling elements
- Designing powerful presentations
- Presenting to senior management
Week 2
Schedule & Fees
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