Many management development training programmes at least allude to managing finances and budgets, but if managers have not had such training, they probably find that the management of their budget is as much as a headache as George Osborne has had recently. Most organisations ask for budget forecasts for which managers spend time researching and creating to align with their goals and performance objectives. Later, and often without any consultation, the final budget is issued, usually considerably below that which was requested. However, goals and objectives are not reduced in line with the lower budget; on the contrary they are often upped as the financial grips tighten.
So as the new financial year starts, and if the training budget is still intact, now is a good time to provide management development training to sharpen participant’s knowledge and skills to increase their efficiency and effectiveness. The training must encompass more than financial skills; it must cover people skills, communication and organisational skills, problem solving and decision making, team development, coaching skills, motivation and performance management. When these topics have been covered then the management development training can be transferred into tangible changes in behaviour that translate into realisation of challenging performance and budget goals.
By Mike Cooney | Righttrack’s Commercial and Financial Director
Hilarious seeing George Osborne trying to compare Greece, Ireland, & Portugal’s debt with British on UK tv this morning… ever heard of the Euro, son? Thought not! LOL!
I’m starting to think, what with George Osborne saying he welcomes his handling of the UK economy being overseen by the IMF, and Gordon Brown being widely rumoured to be the IMF’s new head, the New Wold Order so widely spoken of by conspiracy theorists is real and is almost upon us! This is genuinely alarming!