The balance sheet is one of several financial reports that organizations use for monitoring and planning purposes. It is a snapshot of a company’s financials on a specific date. All balance sheets include three components: assets, liabilities, and owner’s (or shareholder’s) equity. The report shows the resources an organization owns (assets), how much money it owes (liabilities), and how much equity the owners (or shareholders) have after liabilities are subtracted from the assets. This is also called the net worth of the company. Some of the benefits of being able to read and understand a balance sheet include making better management decisions, identifying potential financial issues before they cause bigger problems, and improving your company’s organizational efficiency.
• Record the assets of a company
• Define liabilities
• Explain owner’s equity
The old saying, greater the risk, greater the rewards has probably rung true for many of us in different stages and areas of life. However, still most people tend to avoid risks when possible, because they think that inaction is often safer than action. The belief is that taking a risk is “exposing oneself to the possibility of loss or injury in the hopes of achieving a gain or reward.” But the legendary boxer Muhammed Ali stated “He who is not courageous enough to take risks will accomplish nothing in life.” In this course, you will learn to mitigate risks and start taking calculated risks.
• Recognize the need for smart risk-taking and its 5 components
• Determine the strategies of smart risk-taking
• List the types of risk-taking cultures
To better understand today’s digital age, it’s important to look back at the Industrial Revolution. As Steve Jobs said, “You can’t connect the dots looking forward, you can only connect them looking backward.” Just as the steam engine and other machines transformed the 18th-century economy, digital technologies are changing our world economy, business practices, customer expectations, and societal norms—and will continue to do so for the foreseeable future. And while it’s impossible to predict the exact changes that lie ahead, it’s possible to predict who will succeed: agile organizations who are able to quickly take advantage of new opportunities by applying digital technologies.
• Understand the parallels between the industrial revolution and the digital revolution
• Define Digital Transformation
• Understand how digital is changing the operation of businesses, affecting all business sectors, and is making organizations flatter
Do you want to mentor an environment of innovative thinking in your organization? A leader needs to have some qualities to promote innovative thinking among their team members. The leader also needs to know the techniques of exercising innovation. This lesson outlines the qualities and techniques as well as the four-step process of leading innovation sessions. You can also learn various strategies to maintain the environment of innovation in your organization. It encourages you to challenge your processes and think out of the box. This is a must-learn lesson for persons who want to lead innovation teams effectively.
• Describe an ideal change leader and team members
• Explain the techniques of exercising innovation
• Describe the four-step process of leading innovation sessions
Consistent business analysis is critical to a company’s short- and long-term success. Because the SWOT framework is such a simple, flexible, and powerful tool, organizations can use it to examine, plan, and implement business decisions and plans that range from incremental to comprehensive. By gathering a range of input from inside and outside the organization, your analysis will provide substantial, relevant, and objective data to guide your decision-making. Whether you’re planning new corporate-wide strategic goals or reviewing departmental processes, a well-executed SWOT analysis will enable you to focus on your strengths, diminish threats, and take advantage of identified business and market opportunities as you move forward.
• Describe SWOT Analysis
• Conduct a SWOT Analysis
• Create a SWOT Action Plan