Acumen in Action #3 / Seeing the Big Picture
Get your team together!
Activity: Go through the slides
Discussion: Answer the questions
Report: Insights and a team selfie
Read the Misfit Toy Management case study.
Teach your team the importance of cash and then discuss how your team impacts the cash driver.
To a businessperson, cash represents the ability to stay in business– it’s the company’s oxygen supply. And according to the late Al Shugart, founder of Seagate and a pioneer in the disk drive industry, "Cash is more important than your mother." Now, we're sure Al loved his mother, but he makes an important point of how critical cash is to a business.
Most people can understand cash from a personal point of view. If the bills are due, but your paycheck hasn't arrived, what happens? In a large company, it's easy to forget about cash, but everyone (not just finance) must be aware that their actions either use cash or generate cash. A sales rep who negotiates a 30-day payment plan instead of 45-days influences cash. A team leader whose poor planning makes overtime necessary influences cash.
👇🏼 Print out a worksheet for each team member before you get started. 👇🏼