Financial Coaching

Overview

Financial information underpins every aspect of business operations and strategy; consequently, understanding its meaning is an essential part of executive knowledge and skills.

No treatment of an operational issue, or indeed the very process of making management decisions is complete, or effective, without an in-depth evaluation if its impact on the ultimate financial wellbeing of the business.

The relevance of these skill is even more important in joint stock companies where the stewardship responsibilities vested in the executive management are subject to intense public and regulatory scrutiny and accountability.

A fundamental requirement of that stewardship is the need to optimise the usage of the company resources in a way that maximises shareholder wealth. Thus, financial literacy is of vital importance to senior managers and executives.

The Evolving Role of Finance

  • Historical perspective

  • Current trends

  • Possible future role

  • How Finance is viewed by others

  • Board presence and participation

Corporate & Finance Strategy

  • Understanding the corporate strategy

  • Developing the finance strategy

  • Aligning the two strategies

  • Focusing on goal congruence

Fostering Financial Leadership

  • Identifying and optimising individual leadership style

  • Developing the right mindset and skillsets

  • Leading by facilitating and guiding

  • Importance of expertise and integrity

Building Trust and Partnership

  • Insight into organisational psychology

  • Fostering management links and communication channels

  • Projecting a partnership mentality

  • Finding a balance between maintaining confidentiality and providing information

  • Use of diplomacy and politics

Developing the Right Team

  • What is the right team?

  • What kind of factors make a finance team successful?

  • Acquiring a balance of skills

  • Leading and guiding the team

Viewing Finance as a Service Provider

  • Identifying stakeholders

  • Understanding the needs of users and customers

  • Customising service and information according to customer needs

Importance of Communication

  • What is the right team?

  • What kind of factors make a finance team successful?

  • Acquiring a balance of skills

  • Leading and guiding the team

Dealing with Change & Business Dynamics

  • Instilling awareness of commercial and economic factors

  • Helping the Executive management understand and evaluate opportunities

  • Driving performance improvement across the organisation

  • Managing innovation and cultural changes