This week the second cohort of CeDo Group’s Leadership Development Programme have been engaging with their third module: Finance and Commercial Acumen.
Sound Financial Principles
CeDo is one of Europe’s leading manufacturers of household disposables, using advanced polymer manufacturing techniques to create both own-label and proprietary products.
The Leadership Development Programme has been customised to meet the needs of CeDo’s “Developing Leaders” strategic objective, providing an opportunity for potential senior leaders, identified and selected from the talent pool within the company, to develop and demonstrate the skills, knowledge and understanding to take on senior roles in the organisation in the medium term.
The cohort of fifteen participants is multinational in composition, hailing from the UK, France, Germany, Russia, Poland, Slovakia, Vietnam, Holland and USA. The Programme provides the participants with the opportunity for face to face communication in an open and intellectually stimulating environment away from the day to day concerns of the workplace.
Programme participants are all in reasonably high level positions, where they have to make decisions that require an understanding of financial language, the ability to analyse financial information and how the CeDo financial system works. They have to thoroughly understand the implications of the decisions they make, and how this may impact on the general outcomes. In a globally dispersed organisation with a diverse product range and different locations that need to work together, understanding the bigger picture is essential.
The aim of the Finance and Commercial Acumen module is to provide participants with a basic understanding of financial language and concepts, to analyse and interpret financial information, to apply financial decision-making tools and techniques and to appreciate the financial implications of decisions and judgements they make.
The module focusses on understanding vital financial information across the organisation as a whole, and is designed around an analysis of CeDo’s own financial system. This includes an appraisal of the participants’ projects that are based on real world mandated business cases; participants are also encouraged to continue their learning when they go back to their own business units.
This module is fundamental to applying the learning of the other programme modules, since all decisions need to be grounded in sound financial principles. That is why this module has been left to the end of the programme, so that participants can place it in the context of the overall business strategy.
The module is led by Matt Davies of Aston Business School.
The participants have previously engaged with Programme content in two other modules:
- Module 1: Strategy – this focuses on the Business Environment, Products and Markets, delivered by our associate faculty member Dr Andy Bass.
- Module 2: Leadership and High Performance Teams - this module addresses the key issues involved in team leadership, understanding group processes and communication, and developing effective relationship-based leadership. The module was led by Professor Robin Martin of Aston Business School.