The Royal Mint – Finance for Non-Financial Managers Course
We were invited by The Royal Mint to work closely with them in Spring 2012 to design a course that was heavily tailored to their unique organisation and that would provide a good grounding in financial knowledge for their Managers.
Elizabeth worked closely with their internal finance team to fully understand their internal processes and intricacies to produce course materials that truly reflected the business and that would provide the best opportunity for their Managers to grasp the key areas of finance that were key to their roles.
A pilot Finance for Non-Financial Managers course was run in June 2012 and the course was then rolled out to a number of other Managers throughout their business with great success.
Louise Terry, Training Manager, has this to say about the project:
“As a business in a competitive market we wanted to give managers basic financial knowledge. Our aim was to help everyone to interpret financial figures plus understand the impact finance has on our business with a view to making commercially informed decisions. Elizabeth, our Trainer from FST&C, worked hard at getting to know our business and our terminology and has now run a number of financial courses for us through-out the year; we have now trained around 100 people.
The course has put financial terminology into easy language and made it relevant to the participant’s role. Suddenly they understand finance! The activities that are run through-out the course put the finance knowledge they have learnt into practice. Everyone comes away with a plan which they can put into action that will reduce costs or improve profits in their area. An instant return on investment!”
The Managers that attended the courses were equally complimentary about the course:
Ross Davies said that it was “definitely the best course I have ever attended” and said that he would “use the knowledge gained to drive cost savings”.
Sadie Quick commented that it was “a great course – really useful” and that she now “understands the impact of her role and the importance of chasing debts, negotiating contract terms re payment, delivery, penalties, price, etc on cash flow”.
Chris Long added that “the Trainer was very knowledgeable about our business and dealt with the questions well”. He planned to “use some of the tools and techniques covered as part of the product development process“.
The Royal Mint plan to continue running this course throughout 2013 and we are delighted to have another long term customer on board!