Profitability: Six Questions That Will Change Your Business
This course will enable you to:
- Improve the profitability of your organisation
- Find out precisely what your customers want
- Clarify how well you have to do it
- Measure how well you are doing it
- Calculate the cost of under and over-performance
- Understand why you are under or over-performing
- Decide what to do about it
Is your organisation as profitable as it could be? As an accountant, you can become the fulcrum of change and improvement, by identifying opportunities for improvement, calculating the financial upside of corrective action, and driving the improvement process.
This course will guide you through six simple questions that can transform the profitability of your organisation. You'll discover the important roles that customers, targets, measurement processes and costs play in the improvement of your organisation. The course will enable you to drive the improvement process based on objective, empirical data.
The six questions
- Change and improvement
- Why the six questions?
- Contributing to customer satisfaction
- Making change happen
The first question
- Experiences of organisational hubris
- Customer touch-points
- How do we ask our customers?
- Dovetailing with existing processes
- Expansionary strategies
- Customer order supply chain
The second question
- Setting targets
- Bad targeting
- Setting targets against customer criteria
- Empirical targets in your organisation
The third question
- Keeping track
- Bad measurements
- Hidden horrors
- Measurement frequency
- How well are you currently performing?
The fourth question
- Dealing with abrasive types
- Lost sales
- Where does the money go?
- Utilisation scores
- Cost of quality
- Customer involvement
The fifth question
- Why are we under/overperforming?
- How to solve a problem
- The fishbone diagram
- Failure modes and effects analysis
- The cause and effect technique
The sixth question
- Achieving consensus
- The process in action
- Constantly involving all stakeholders
- Bottom-to-top organisational involvement
- Keeping the customer happy
- Barriers to implementation
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.