This one-day workshop develops the business acumen of participants and helps them to understand how commercial organisations make money and how they report their financial performance.
By building the workshop around a business simulation, the process of learning is made more engaging and enjoyable and thus more effective.
The workshop covers the basics of accounting from first principles but also looks at the drivers of financial performance - markets, customers, products, competitors - and explores how our decision-making flows through into our financial performance.
This workshop is held either at your premises or in a virtual classroom. It is typically played with 3 or 4 teams of 2 or 3, giving a group size of 6 to 12 people.
Digital certificate - Included
Competing in pairs or small groups, participants take over a tired and neglected pub in the village of Little Chadwick and are tasked with knocking that business into shape and setting it off on a more profitable future.
Each round they must decide on their pub’s pricing, stock range, staff requirement, entertainment, marketing and capital expenditure. Our computer model then produces accounts, key performance indicators and market data in respect of each pub and this is used to help the teams make their next set of decisions.
The rounds of the simulation are interwoven with structured tuition. Each time a chunk of theory gets introduced, it is immediately demonstrated with reference to one of the village's 'autopilot' pubs, before teams get the opportunity to apply the new learning to their own pub. Specifically, we cover:
A final review examines each team’s strategy and brings together the key learning points.
Although the simulation is ostensibly about pubs, it is really just a familiar setting with which to learn how businesses make money (or don't). Our clients are drawn from manufacturing to financial services, transport to retailing, charities to government agencies.
We are always keen to tailor the content for in-house programmes. This may involve:
You may also choose to slim down the finance theory and just focus on the Profit & Loss and a few profit ratios like Gross Profit %. This could make sense for businesses that have a multi-branch structure, where managers are unlikely to see a Balance Sheet. We then use the extra time for exercises and tailoring.
Participants receive a spiral-bound booklet of around 30 pages. This provides information to help them in the simulation (a map of the village, points they should consider in their decision-making) and reference material on the finance theory. Online participants receive this as a pdf.
Over the last few years, we have been pleased to deliver this one-day workshop for, among others...
Barratt Developments, Benenden Health, Castle Bingo, CBRE, Computacenter, Dimensions, Easyjet, Global Payments, H Samuel, Indigo Parking, Jack Wills, Kuehne & Nagel, Molson Coors, NEC, Pinnacle and Vanquis Bank.
This programme is useful for anyone whose decision-making can affect the financial performance of their organisation, be they generating revenue, incurring costs or managing resources.
Because it assumes people haven't done accounting before (or have forgotten it), it is particularly appropriate for junior and middle management, graduate trainees and 'rising stars'.
There are no pre-requisites, beyond having a working knowledge of English. The simulation does all the numerical heavy-lifting, so the number work is more about interpreting figures than crunching them.
Previous experience of the inside of a pub may be advantageous.
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This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.
