18 June 2016: IEDC welcomes more than 60 alumni from different programs, generations and 13 countries at the forth alumni upgrade course titled “Using Management Accounting to Implement Strategy” prepared by Professor Randy Kudar.
»Management accounting was much more than simply keeping track of the numbers. A clear understanding of the managerial economics of choices could assist you in making better decisions, or in preventing you from making bad decisions,« stresses Prof. Kudar. Throughout his lecture, Prof. Kudar invited participants to explore a number of different methods by which they can organize the costing data. Consequently, IEDC Alumni, participating the course, had an opportunity to look at four different models for organizing the cost data to address specific issues, including introducing innovative products into a market, dealing with existing processes and their utilization, bidding successfully in highly competitive markets, and understanding the dynamics of their own business. »As always the seminar consists of case studies to address these issues. This is not for the quantitatively challenged. There are be numbers, many of them,« adds Prof. Kudar, who concluded the seminar with a construct of how several different models fit into strategic choices.
IEDC alumni upgrade courses are responding to many wishes and requests for special lectures for alumni to refresh their knowledge and skills and also to use the opportunity to re-live that great feeling of working in a classroom - debating the case and questioning each other’s ideas. IEDC started with them in 2016, on our 30th Anniversary.