Navigator Consulting Group and the Cyprus Chamber of Commerce and Industry are organising a blended training programme entitled Turn Around Management / Financial Crisis Management in Small Enterprises. The objective of the training is to support small enterprises develop turn around and crisis management methods based on robust financial analysis of their operations. The training will be held on 6-7 October at the premises of the Cyprus Chamber of Commerce and Industry in Nicosia, Cyprus.
Nicosia, Cyprus: 31 August 2020
Introduction
The training programme uses the concept of turn-around management, together with strategic analysis such as Porter’s Value Chain and Competitive Advantage models, as well as financial analysis and risk analysis. By the end of the programme and the company visit, managers should be able to understand and develop a financial model for their firm and take appropriate measures for crisis management and turn-around management.
The 2020 coronavirus / COVID-19 pandemic caught governments and enterprises by surprise. The draconian measures implemented to stop the spread of the virus included a full shut-down of entire sectors of the economy, including hotels, restaurants, non-grocery retailers and many others.
Small enterprises have been badly hit by the crisis. Small enterprises in any case have been hit by a number of structural factors in the economy, including
generational change;
declining profit margins due to large competitor entry;
oversaturation of suppliers, including too many competitors in each segment;
limited access to talent and technology;
rising input costs, primarily of facilities (rents) and staff, caused by the property boom;
declining innovation.
The result is that while they can operate under normal circumstances, a “Black Swan” event of the magnitude of the COVID-19 crisis causes existential damage, leading to thousands of small enterprises unable to pay their bills, and shutting down.
Learning Objectives
As a result of participation, managers should be able to:
Assess the enterprise risk in their standard operations. Understand different sources of risk—technological, competitor, customer—and understand their vulnerability levels.
Understand how to spot an emerging crisis and measure its severity. A crisis is part of the risk assessment framework, but is usually one order of magnitude worse than standard risk in standard operating conditions.
Understand their corporate value chain, including financial and non-financial metrics of competitive advantage. This requires the deployment of strategic analysis tools such as Michael Porter’s Value Chain and Competitive Advantage models, but also bridging the gap between these and financial profit centre analysis.
Understand the profit-loss statement, including cash flow and balance sheet, as well as the management accounting statements and assumptions behind these.
Develop a profit centre approach to operations. This involves defining their value chain by operations and profit centres, and then assigning income and costs into operations. It includes the allocation not only of direct costs but also overhead costs.
Calculate key financial ratios such as break-even costs, costs of capital, net profit per customer, net profit per business group, overhead cost allocation, and more.
Developing strategies and tactics for turn-around management in a structured and coherent manner.
Improve their ability to manage profitability, risk and crises.
Training Agenda
Please view the training agenda and more information about the training programme.
Consulting Visit
All companies that participate are entitled to a full-day consulting visit by the trainer. This visit is used to implement the methods provided on each specific company case, and is extremely useful in terms of integrating the learning methodologies and generating a tangible result.
Trainer
The trainer is Philip Ammerman. Philip is an experienced consultant and entrepreneur who has advised companies through a series of catastrophic downturns as well as high growth periods. He has worked through the 1998 Russian sovereign debt crisis, the 1999-2000 dot com crash, the 2000 stock market crash in Cyprus, the 2008 banking crisis, the 2010-2018 Greek debt crisis, the 2013 Cyprus bail-in crisis and the current COVID-19 Pandemic. Philip is an experienced investment advisor and has advised on over 120 business plans, corporate restructurings, mergers and recovery plans worth over € 6 billion.
Training Costs
All costs of the training are covered by the Human Resources Development Authority for qualified small enterprises and their management employees. In order to benefit, participants must be permanently employed (and registered for social insurance), and the company that attends must meet the criterion of a small enterprise, namely 1-49 employees.
Further Information and Registration
Please view the event website here:
For further information, please contact:
Philip Ammerman
Managing Director