PRACTICAL ECONOMICS & MONEY MATTERS

Practical Economics

Key Information

  • Target Audience:  Department Heads, supervisors, managers, shop stewards, general employees
  • Contact Training:  3 days

Training Objective

The main objective of the training will be to provide the delegates with enough knowledge to understand the economic environment in which the company operates, what determines whether a company is profitable or not, and the difficulties and challenges that a business must overcome in order to succeed, and to ensure its on-going survival.

Central to this is understanding how the actions, attitude and decisions taken by employees impact the business.

The course is offered at various levels, and audiences include:

  • Employees – first part of a strategy to enhance and open more direct communication channels as an important step to enhancing labour relations
  • Shop Stewards – improve understanding of how your business and the economy operate
  • Joint negotiation teams – enhance commercial sense and create a common language
  • Supervisors and first line management – improve decision-making and accountability
  • Department Heads and Senior Managers – opportunity to engage strategically about the business

Mashonisa / Financial Fitness

Key Information

  • Target Audience:  Company wide
  • Contact Training:  Half day
  • Delivery:  Can be offered as a Train the Trainer module for extensive roll-outs

Mashonisa is an informal word for a money lender, though typically refers to a loan shark. The problem of over-indebtedness is placed in the context of the extent of the problem across South Africa.

The objective of the Mashonisa Module is to provide delegates with an understanding of the true costs of borrowing, the impact of hidden costs such as service charges and insurance, and how to determine the effective interest rate (also known as the Annual Percentage Rate).

Financial pressures brought about by habitual reliance on money-lenders exacerbates industrial discontent.

From the employer’s perspective, financially stable employees:

  • are more likely to retain their jobs
  • experience less stress-related ill health
  • are less likely to have a poor performance record (or high levels of absenteeism)
  • are less likely to commit acts of misconduct

Entrepreneurship

Key Information

  • Target Audience:  Socio-Economic Development, Supplier Development, Youth Employment Scheme – Skills Development
  • Contact Training:  5 – 6 days

Our Entrepreneurship Module builds on our proprietary 3-day Practical Economics Course, by extending the offering to focus on identifying a market need, developing a business plan, sources of funding for new business initiatives and preparing a pitch to potential investors and/or funders.

We live in a world of celebrity entrepreneurs from Patrice Motsepe at African Rainbow Minerals and Elon Musk at Tesla to Vusi Thembekwayo at Motiv8. In some cases we are inhibited / overwhelmed by the extent of their success and the size of their companies and become discouraged from pursuing our own entrepreneurial dreams for fear of failure. In other cases we are so caught up in the allure of their massive success and our own desires for similar outcomes, that we fail to take the little steps required to get started, or perhaps miss out on opportunities at our feet given our head is in the stars.

Levy Africa Network’s Entrepreneurship Module seeks to give budding entrepreneurs the primary skills required to take their dreams forward in a measured and meaningful manner.

Financial Statements Primer

Key Information

  • Target Audience:  Supervisors and managers – non-financial staff
  • Contact Training:  1 – 2 days

Our Financial Statements Primer is designed for non-financial staff with little or no prior exposure to financial statements.

During this course, we explain the key components of the financial statements, how these are all inter-linked and the various data points available from reviewing and analysing such information. We also introduce tools common to financial statements analysis and how to use them in practical applications. Where possible we undertake a review of the employer’s financial statements. In such instances employees are given an opportunity to understand the performance of the company, the context in which it operates and how it is positioned to tackle challenges or take advantage of opportunities.

Delegates are taught to appreciate the extent to which financial statement information can help solve business problems and the information which is disclosed which is meaningful to all stakeholders.

Personal Finance

Key Information

  • Target Audience:  Supervisors responsible for day to day discipline; shop steward training
  • Contact Training:  2 days

Over indebtedness has increased dramatically in recent years. In large part, this is due to inadequate financial planning by individuals. We seek to assist employees to deal with a constantly changing economy by teaching the importance, and having a basic understanding of, financial planning techniques. Effective financial decision-making is based on informed decisions starting with understanding your payslip and any deductions, determining your monthly expenditure requirements and differentiating between essential purchases and discretionary expenditure. Preparation of a monthly budget is a key deliverable for all delegates. Finally we consider savings and investments, insurance, and retirement planning. All employees need to be empowered with the ability to make – and, if necessary access, sources – for making appropriate financial decisions.

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