ceo plaing for ce os ensuring sustainability
TRANSCRIPT
MC LimitlessAccept the Challenge;Achieve the IMpossible
ENSURING SUSTAINABILITY
FINANCE FOR LCPsJorge Duque Mei Yi Kok
MC LimitlessAccept the Challenge;Achieve the IMpossible
MC LimitlessAccept the Challenge;Achieve the IMpossible
TO KNOW
TO INTERNALIZE
TO DO
MC LimitlessAccept the Challenge;Achieve the IMpossible
Objectives
To know
• Understand the why, how and what of finance management at local level.
To Internali
ze • Be aware of my roles as LCP
towards finance management
To Do • Define next steps for Q4 –
and Q1 regarding finance CORRECT implementation and improvement.
MC LimitlessAccept the Challenge;Achieve the IMpossible
Defining finance To know
Why does FINANCE exist?
What does FINANCE provide?
How does FINANCE deliver its own prom-
ise?
MC LimitlessAccept the Challenge;Achieve the IMpossible
Why does FINANCE exist? To know
Defining finance
To guarantee sustainability in all activities gen-erating continuity in the entity and capacity to
deliver more and better experiences.
MC LimitlessAccept the Challenge;Achieve the IMpossible
Why does FINANCE exist? To know
Defining finance
Does my entity fulfil the finance promise? Yes / no, why?
MC LimitlessAccept the Challenge;Achieve the IMpossible
How does finance deliver its own prom-ise?
To know
• Accounting (bookkeeping)• Budgeting and tracking • Analysing and Reporting
Finance & Legal
Management
• Investments – strategies
• Tracking • For ICX, OGCDP, OGIP
Program Management Support
• NPS Implementation• Tracking reporting and execution
Quality Manageme
nt
ICX/ OGX
TM
MAC
FINANCE STRUCTURE AT LOCAL LEVEL
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How does finance deliver its own prom-ise?
To know
Is finance happening in my entity? Yes/ not, why
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What does FINANCE provide? To know
Sustainable products
Financial sustainability is achieved when a business is able to deliver products and services to the market at a price that covers their expenses and generates a profit.“
Source:toolkit.smallbiz.nsw.gov.au/part/17/83/358
DIRECT COSTS < PRICE Positive MARGIN
MC LimitlessAccept the Challenge;Achieve the IMpossible
To Internalize
Understand
• Finance is an strategic area! that is why we are part of the back office
• Decision Making 24/7• Be aware that our resources are for investing
LCP – LCVP Relationship
• Decision making together • Communication • Information on time ( updated ) in order to make decision
Tracking and Implementati
on
• Tracking every week ( Budget execution, strategies and goals) (Tool)• Program management is happening.
Guarantee Investments
• Investments according SMP per program • Track and measure ( KPIs)
My role as LCP in finance
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ITEM/ MONTH ITEM/ MONTH
Cash at Bank Cash at Bank
WEEK 2
$ -
December Weekly Finance Tracking Tool
WEEK 1
$ -
Review of Nov ( Last month
$ - Total $ - Total $ - OGCDP Cost $ - OGCDP Cost $ - IGIP Cost $ - IGIP Cost $ - OGIP Cost $ - OGIP Cost $ - TM Cost $ - TM Cost $ - Investments $ - Investments $ -
Others $ - Others $ -
OGCDP $ - OGCDP $ - IGIP $ - IGIP $ - OGIP $ - OGIP $ - ER $ - ER $ - Miscellaneus $ - Miscellaneus $ -
Others $ - Others $ -
OGCDP Cost $ - OGCDP Cost $ - IGIP Cost $ - IGIP Cost $ - OGIP Cost $ - OGIP Cost $ - TM Cost $ - TM Cost $ - Investments $ - Investments $ -
Others $ - Others $ - OGCDP $ - OGCDP $ - IGIP $ - IGIP $ - OGIP $ - OGIP $ - ER $ - ER $ - Miscellaneus $ - Miscellaneus $ - Others $ - Others $ -
Priorities Next week Responsible I need support from .. Priorities Next week Responsible I need support from ..
1 1
2 2
3 3
MC LimitlessAccept the Challenge;Achieve the IMpossible
To Internalize
Understand
• Finance is an strategic area! that is why we are part of the back office
• Decision Making 24/7• Be aware that our resources are for investing
LCP – LCVP Relationship
• Decision making together • Communication • Information on time ( updated ) in order to make decision
Tracking and Implementati
on
• Tracking every week ( Budget execution, strategies and goals) (Tool)• Program management is happening.
Guarantee Investments
• Investments according SPM per program • Track and measure ( KPIs)
My role as LCP in finance
MC LimitlessAccept the Challenge;Achieve the IMpossible
Investments - SMP To
Internalize
And general LC cost
EP Service Surplus$77 $77
PreparationGifts
Reinteg. Member Rewards $39 Marketing $77TL Rewards $19 Showcasing $77VP Rewards $19
$231.00oGCDP Investments
LC Portion
Marketing$154
Member development$77.00
ICX oGCDP
And general LC cost
MC LimitlessAccept the Challenge;Achieve the IMpossible
Investments - Program Management To
Internalize
TM
• Sales Training • Conference / EP
Fee subsidy • Events
participations (Bussines conferences)
• Team building• RnR internal
campaing M
AC • PR
• Market research • MAC Campaign• University
relations!
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Budgeted executed Increase retention rate 100% retention rate 20% growth 1 month
Increase number of TNs 5 new leads 11,250.00$ 1 month
It is the person or VP in charge to deliver the
strategy or invesment, it does not matter
whether is a different area
should be defined in terms of RA - MA - RE for opperations or other results you expect, not
all the investments should bring us money , raises , matches or realizations
Results you need in order to overcome
your investment or to identify that you
overcame or fulfilled the investment
purpose.
Time to get our results
(ROI)
IGIP
KPIResponsable
February
January
Investments Tracking Tool
Goal ROIMonth
December RnR Campaing $1,500 $1,250
TROI
TM/IGIP
InvestmentInitiative / strategy Program
MC LimitlessAccept the Challenge;Achieve the IMpossible
Next CFOs?
• Competencies?
• Skills?• Knowledge?• Background?
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Next steps for Q4 To Do
What should we do/implement/change/stop in order to guarantee sustainability in Q4
and Q1 next year
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Conclusions
Finance is not only accounting, make adds and review informa-
tion:
Finance role is not buying toilet pa-per to the office
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Conclusions Finance it is about strategy – Holistic
vision
MC LimitlessAccept the Challenge;Achieve the IMpossible
Conclusions
FINANCE IS ABOUT LERA-NING
SELF LEARNING … YOU ARE CEOs!!!
MC LimitlessAccept the Challenge;Achieve the IMpossible
Conclusions
FINANCE IS ABOUT ACTIONS!