In this third workshop the process of financial management within the small business is examined. Attention is given to understanding how debt and equity are used within the firm to build the foundations for a strong and sustainable business.
Also examined is the importance of cash flow management, and the need to generate good profit margins and appropriate levels of working capital. This is particularly important for firms that are seeking growth.
In second part of the workshop, the focus shifts to how human resources are managed within the small business. In particular the need to build competent teams and self-sustaining organisational structures not dependent on the owner-manager for day-to-day supervision.
Small group activities will focus on the application of concepts and theories to a small business project using Action Learning Tasks (ALT). In this workshop, ALT 3 Financial management and ALT 4 Human resources management, will be commenced.
- Topic 7: Small firms and human resources
- Topic 8: Financing the small firm (part 1) - debt vs. equity
- Topic 9: Financing the small firm (part 2) - cash flows, credit and working capital
Action Learning Tasks
- ALT 3 Financial management
- ALT 4 Human resources management