Monday 17 to Friday 21 February 2014
Prof. Charles Thomas
Strategic Costing for Customer Value
- MODULE DESCRIPTION
Executives who leave costs to their financial managers and accountants miss out on opportunities and increase the risk of their organizations. Whether you sell luxury products and services or those that are value-priced, no business excels without attending to its costs. The new 5-day intensive format provides advanced insights into the key-elements which define the ultimate balance between managing cost and creating long-term customer value. The programme is designed to enhance the strategic visioning and leadership skills of business leaders.
Participants of this module will focus on relating costs to the creation of customer value. They will learn new ways to face the hard choices; how do I balance giving my Customers more, while making enough profit to stay alive for next years’ Customers? How do I contain costs without reinforcing all of the counterproductive behaviors resulting from traditional budgeting?
By the end of the Module, participants will be able to:
• Beyond budgeting, understand ways to manage the decisions and actions that give rise to costs
• Relate the creation of customer value to the generation of costs
• Make tradeoff decisions, balancing what your customers value with what they are willing to pay, required for effective cost control
• Designing products and services in such a way that resulting costs are appropriate
• Plan for cost management over the long-term while handling today’s pressing decisions
• Customer-centric perspective
• Strategic view required for causing rather than merely responding to shifts in the balance of competition
Lectures, discussions, and active exercises, with case studies
Designed for hospitality sector executives, managers, owners, and operators who aim to enhance their strategic leadership skills.