Creating Value through Strategic Financial Analysis—Virtual
- Dates: 06–31 MAY 2024
- Format: Virtual Synchronous learning at designated live online session times.
- Fee: $10,000
The program fee covers tuition, e-books, and online case materials.
Application Due: 26 APR 2024
This program includes live online classes, self-paced work, discussion groups, and virtual networking. Download brochure for a detailed schedule.
Summary
To execute strategy effectively, senior executives must be able to measure outcomes and create the right incentives to drive results. To accomplish this goal in an era of increasing business complexity, executives need a solid understanding of how strategy is linked to performance metrics and value creation.
In this live online program, you and your peers—general managers and senior executives who are not financial specialists—will examine the use of financial analysis as a powerful tool for understanding and enabling the value creation process. You will acquire a deeper grasp of the relationships among business strategy, finance, accounting, performance metrics, and value creation—and emerge ready to help your organization improve performance over the long term.
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Summary
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To execute strategy effectively, senior executives must be able to measure outcomes and create the right incentives to drive results. To accomplish this goal in an era of increasing business complexity, executives need a solid understanding of how strategy is linked to performance metrics and value creation.
In this live online program, you and your peers—general managers and senior executives who are not financial specialists—will examine the use of financial analysis as a powerful tool for understanding and enabling the value creation process. You will acquire a deeper grasp of the relationships among business strategy, finance, accounting, performance metrics, and value creation—and emerge ready to help your organization improve performance over the long term.
DetailsExpand AllCollapse All
Apply core concepts of accounting analysis and financial analysisApply core concepts of accounting analysis and financial analysis
- Leverage financial reports to analyze performance and assess valuations
- Understand activities and capabilities that generate value and shareholder value
- Assess return on invested capital and how it is impacted by operating and financing decisions
- Apply proven tools to assess strategy, forecast outcomes, value strategic assets, and evaluate restructuring opportunities
Employ the levers of value creation to enhance resultsEmploy the levers of value creation to enhance results
- Understand the principal drivers of value creation and know when to utilize them
- Map strategy to performance metrics and drivers of value
- Anticipate the potential impact of various performance metrics, including unintended consequences, and apply them appropriately
- Align budgets and targets with strategic objectives
- Achieve desired outcomes
- Measure, track, and drive performance
Expand your personal and professional networkExpand your personal and professional network
- Extend your network by connecting and working with accomplished executives from various backgrounds, industries, and countries across the globe
- Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions
Apply core concepts of accounting analysis and financial analysis
- Leverage financial reports to analyze performance and assess valuations
- Understand activities and capabilities that generate value and shareholder value
- Assess return on invested capital and how it is impacted by operating and financing decisions
- Apply proven tools to assess strategy, forecast outcomes, value strategic assets, and evaluate restructuring opportunities
Employ the levers of value creation to enhance results
- Understand the principal drivers of value creation and know when to utilize them
- Map strategy to performance metrics and drivers of value
- Anticipate the potential impact of various performance metrics, including unintended consequences, and apply them appropriately
- Align budgets and targets with strategic objectives
- Achieve desired outcomes
- Measure, track, and drive performance
Expand your personal and professional network
- Extend your network by connecting and working with accomplished executives from various backgrounds, industries, and countries across the globe
- Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions
Who Should Attend
- General managers or other senior executives from any company, industry, or country, who are connected with strategic decision-making, M&A or finance, or controller functions
- Entrepreneurs or other senior executives who would benefit from a deeper understanding of financial analysis, accounting, and valuation
- Directors and senior managers who wish to tailor financial and non-financial performance metrics to analyze, motivate, and drive corporate performance
- May also be beneficial for: Investors or financial analysts interested in a valuation framework that integrates strategy analysis, accounting analysis, performance analyses, and forecasting
Attendance by multiple company representatives will foster teamwork and amplify the program’s impact.

Program for Leadership Development participants earn 5 PLDA Points on completion of this program.
- General managers or other senior executives from any company, industry, or country, who are connected with strategic decision-making, M&A or finance, or controller functions
- Entrepreneurs or other senior executives who would benefit from a deeper understanding of financial analysis, accounting, and valuation
- Directors and senior managers who wish to tailor financial and non-financial performance metrics to analyze, motivate, and drive corporate performance
- May also be beneficial for: Investors or financial analysts interested in a valuation framework that integrates strategy analysis, accounting analysis, performance analyses, and forecasting
Attendance by multiple company representatives will foster teamwork and amplify the program’s impact.

Program for Leadership Development participants earn 5 PLDA Points on completion of this program.
Leaders in Virtual Learning
This program features sessions in the HBS Live Online Classroom.
Just as HBS pioneered the case study method, we also built the first live online classroom in 2014 and have been refining and optimizing our virtual program experience ever since. In a world that is now centered around virtual connection, our programs reflect the input and experience of tens of thousands of participants.
When you participate in a virtual HBS Executive Education program, you benefit from a powerful learning experience carefully designed with a virtual setting in mind. Through live, synchronous program sessions you'll engage directly with our renowned faculty to learn from their latest research, gain actionable takeaways, and facilitate your growth. In addition, virtual discussion groups will connect you to a global group of peers and build your network.
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Leaders in Virtual Learning
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This program features sessions in the HBS Live Online Classroom.
Just as HBS pioneered the case study method, we also built the first live online classroom in 2014 and have been refining and optimizing our virtual program experience ever since. In a world that is now centered around virtual connection, our programs reflect the input and experience of tens of thousands of participants.
When you participate in a virtual HBS Executive Education program, you benefit from a powerful learning experience carefully designed with a virtual setting in mind. Through live, synchronous program sessions you'll engage directly with our renowned faculty to learn from their latest research, gain actionable takeaways, and facilitate your growth. In addition, virtual discussion groups will connect you to a global group of peers and build your network.
Admissions Criteria and Process
Answering Your Questions
Application Submission
Application Review
Fee, Payment, and Cancellations
Answering Your Questions
Application Submission
Application Review
Fee, Payment, and Cancellations
What You Will Learn
Through faculty presentations, case studies, small-group discussions, and special projects, you will learn key concepts that can help you drive performance and value for your business. Whatever your prior exposure to finance and accounting, the program's format offers ample time to absorb and practice applying principles and tools. In the process, you will dive into one of today's most important financial metrics, Return on Invested Capital (ROIC), and explore how profitability, growth, and cost of capital relate to value creation.
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What You Will Learn
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Through faculty presentations, case studies, small-group discussions, and special projects, you will learn key concepts that can help you drive performance and value for your business. Whatever your prior exposure to finance and accounting, the program's format offers ample time to absorb and practice applying principles and tools. In the process, you will dive into one of today's most important financial metrics, Return on Invested Capital (ROIC), and explore how profitability, growth, and cost of capital relate to value creation.
Program Format
This program is taught over four weeks, with three half-day sessions per week. Live online class sessions take place using the HBS Live Online Classroom, while small-group discussions will take place over Zoom.
Collaborative learning is an integral part of the experience. To maximize the benefit for everyone, you are expected to attend every session, complete all assignments, and contribute effectively in the classroom and in small groups. We advise setting aside a total of 3-5 hours per week for program work in addition to the synchronous class sessions. In addition, participants should expect to spend 5-10 hours on self-paced case preparation prior to attending the program.
-
Program Format
-
This program is taught over four weeks, with three half-day sessions per week. Live online class sessions take place using the HBS Live Online Classroom, while small-group discussions will take place over Zoom.
Collaborative learning is an integral part of the experience. To maximize the benefit for everyone, you are expected to attend every session, complete all assignments, and contribute effectively in the classroom and in small groups. We advise setting aside a total of 3-5 hours per week for program work in addition to the synchronous class sessions. In addition, participants should expect to spend 5-10 hours on self-paced case preparation prior to attending the program.
Key TopicsExpand AllCollapse All
Financial performance metricsFinancial performance metrics
- Recognizing the importance of financial analysis and accounting analysis
- Understanding different categories of metrics and how they can be analyzed intelligently to provide insights about firm performance
- Analyzing the relationship between strategy, business economics, and accounting measurement choices in performance metrics
Drivers of financial performanceDrivers of financial performance
- Understanding Return on Invested Capital (ROIC) and how it is impacted by operating and financing decisions
- Assessing the key tradeoffs between ROIC drivers
- Examining how accounting policies relate to financial performance metrics or ratios, and how these ratios connect to valuation
- Applying frameworks to internal/divisional analysis
- Separating the effects of financing and operating decisions
Strategy execution and relative financial performanceStrategy execution and relative financial performance
- Evaluating relative financial performance
- Recognizing how accounting differences can distort financial metrics or result in biased analyses of performance, and how to gain more accurate results
The relationship between metrics and incentivesThe relationship between metrics and incentives
- Ensuring effective budgeting and target-setting
- Analyzing sales-based, profit-based, and ROI-based incentives and their connections to value creation
- Employing economic value added (EVA) as a comprehensive metric for evaluating corporate performance
The relationship between performance measures and valueThe relationship between performance measures and value
- Recognizing the importance of ROIC in capital markets today
- Analyzing the connections between profitability, cost of capital, growth, and value creation
Financial performance metrics
- Recognizing the importance of financial analysis and accounting analysis
- Understanding different categories of metrics and how they can be analyzed intelligently to provide insights about firm performance
- Analyzing the relationship between strategy, business economics, and accounting measurement choices in performance metrics
Drivers of financial performance
- Understanding Return on Invested Capital (ROIC) and how it is impacted by operating and financing decisions
- Assessing the key tradeoffs between ROIC drivers
- Examining how accounting policies relate to financial performance metrics or ratios, and how these ratios connect to valuation
- Applying frameworks to internal/divisional analysis
- Separating the effects of financing and operating decisions
Strategy execution and relative financial performance
- Evaluating relative financial performance
- Recognizing how accounting differences can distort financial metrics or result in biased analyses of performance, and how to gain more accurate results
The relationship between metrics and incentives
- Ensuring effective budgeting and target-setting
- Analyzing sales-based, profit-based, and ROI-based incentives and their connections to value creation
- Employing economic value added (EVA) as a comprehensive metric for evaluating corporate performance
The relationship between performance measures and value
- Recognizing the importance of ROIC in capital markets today
- Analyzing the connections between profitability, cost of capital, growth, and value creation
Applying the Learning: Assessing Your Own Company's Performance and Valuation
During weeks 3 and 4, you will work in teams to practice applying the frameworks and principles you have learned as you evaluate your own company’s performance and determine its valuation.
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Applying the Learning: Assessing Your Own Company's Performance and Valuation
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During weeks 3 and 4, you will work in teams to practice applying the frameworks and principles you have learned as you evaluate your own company’s performance and determine its valuation.
The HBS Advantage
Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.
Philip J. Stomberg Professor of Business Administration
Tandon Family Professor of Business Administration
Gerald Schuster Associate Professor of Business Administration
Assistant Professor of Business Administration
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The HBS Advantage
-
Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.
Faculty CochairsPhilip J. Stomberg Professor of Business Administration
HBS Unit:Accounting and ManagementTandon Family Professor of Business Administration
HBS Unit:Accounting and ManagementFacultyGerald Schuster Associate Professor of Business Administration
HBS Unit:Accounting and ManagementAssistant Professor of Business Administration
HBS Unit:Accounting and Management