| | Finally I can confirm myself that I need to study in the summer term :( for two subjects
- Business Finance (Confirmed)
- Company Law (pending)
Gonna gonna have lecture for 4 days out of seven ~ definitely a good idea to save myself from the originally hellish Sem 1 in the next term :)
From Global Financial Management of AIESEC International
revenuegeneration&financialmanagement
TARGETS
| Our
reference points to aim for
- %
of increase on revenue generated
- No of
partners who are supporting MCs financially
- %
of increase on retention rate of partners
- No of
MCs who have reserves for minimum 6 months
- No of
MCs who have structured education on Finance area (No of
trainings and other education activities)
- No of
MCs/LCs that have an operating budget, cash-flow
- No of
MCs who have unqualified external audit report (positive
report)
- No of
MCs who have long term financial plan
- No of
MCs that have pricing policy based on their external reality
ACTIONS
| What
needs to be done?
- MCs
to develop long term financial plans
- All
AIESEC entities to diversify sources of incomes by considering diverse
options (grants, corporate, alumni)
- MCs
to develop a framework for creating pricing policies (what elements the LC
has to take under consideration)
- Clear
plan of GN level revenue generation needs to be in place
- Each
project should separately have a budget
- Focus
on account management (servicing, CRM, etc)
- Focus
on long term partnership building
- Product
development (investment in long term projects/products)
- MCs
to define required skills and competencies for finance people and run
selection based on these
- Ensuring
coaching and education on the area (support from
partners, AI, FTSI Team)
- Education:
knowledge on financial management for all members , VPs, MCs
- Organize
functional meetings for VPs Finance and other areas (ER) delivered by the
MC (understand the connection between areas, tracking and monitoring)
- MCs,
LCs to have internal and external audits
Gonna see some turnarounds in this area!! :) Can't wait to see the action steps!!
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| | Posted 5/7/2007 6:53 PM - 49 Views - 8 eProps - 4 comments
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