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Transportation Business Transportation Business ManagementManagement

Growing the BusinessGrowing the Business

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Workshop OutcomesWorkshop Outcomes

Read and Interpret your own financial statementsRead and Interpret your own financial statements

Analyze budget and profit and loss statements for profitabilityAnalyze budget and profit and loss statements for profitability

Complete a SWOT analysis and plan for future directionsComplete a SWOT analysis and plan for future directions

Identify specific operational options for greater fuel efficiencyIdentify specific operational options for greater fuel efficiency

Implement environmental controlsImplement environmental controls

Apply business ethicsApply business ethics

Identify labor laws and minimize legal exposure and create a checklist for your own organizationIdentify labor laws and minimize legal exposure and create a checklist for your own organization

Implement time management techniquesImplement time management techniques

Optimize your IT systemOptimize your IT system

Optimize your electronic systems and communicationsOptimize your electronic systems and communications

Identify components of workplace safety and wellness (unique to the transportation industry)Identify components of workplace safety and wellness (unique to the transportation industry)

Build a business planBuild a business plan

Implement effective pricing and costing strategiesImplement effective pricing and costing strategies

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Agenda Day OneAgenda Day One

Welcome and Class OverviewWelcome and Class Overview

Day ReviewDay Review

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Agenda Day TwoAgenda Day Two

Welcome BackWelcome Back

Day ReviewDay Review

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Agenda Day ThreeAgenda Day Three

Welcome BackWelcome Back

Day Review Day Review

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Kicking Things OffKicking Things Off

Who are you?Who are you?

Who do you work for Who do you work for and what do you do?and what do you do?

Why are you here?Why are you here?

What do you want What do you want from the class?from the class?

What will you What will you contribute to the contribute to the learning process?learning process?

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Business UtopiaBusiness Utopia

Take a few minutes to brainstorm what Take a few minutes to brainstorm what you think it takes to be an effective you think it takes to be an effective business.business.

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Looking at Your Own Looking at Your Own OrganizationOrganization

SS

WW

OO

TT

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SWOT AnalysisSWOT Analysis

What strengths would you like to continue to see What strengths would you like to continue to see your company focusing on going forward?your company focusing on going forward?

What specific weaknesses do you believe the What specific weaknesses do you believe the company should begin working on immediately? company should begin working on immediately? What ideas would you implement?What ideas would you implement?

What opportunities would you like to take What opportunities would you like to take advantage of in the next year? How might you advantage of in the next year? How might you go about making these come to life?go about making these come to life?

What threats should you work on managing in What threats should you work on managing in the next year and how would you work on this?the next year and how would you work on this?

Financial Statement AnalysisFinancial Statement Analysis

Accounts PayableAccounts Payable

Accounts ReceivableAccounts Receivable

Accrual AccountingAccrual Accounting

AssetsAssets

Balance SheetBalance Sheet

Cash FlowCash Flow

DepreciationDepreciation

Fixed AssetsFixed Assets

Income StatementIncome Statement

InventoriesInventories

LiabilitiesLiabilities

Capital BudgetCapital Budget

Capital ProjectsCapital Projects

Operating BudgetOperating Budget

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Financial Statement Analysis Financial Statement Analysis Review Cont.Review Cont.

Fixed CostsFixed Costs

Gross MarginGross Margin

Gross Margin PercentGross Margin Percent

Operating IncomeOperating Income

Net IncomeNet Income

Operating ExpensesOperating Expenses

Debt to EquityDebt to EquityEarnings Per ShareEarnings Per Share

Return on EquityReturn on Equity

Return on Invested Return on Invested Capital (ROIC)Capital (ROIC)

Return on Investment Return on Investment (ROI)(ROI)

Inventory TurnoverInventory Turnover

Shareholder’s EquityShareholder’s Equity

Return on AssetsReturn on Assets

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Read Your Financial StatementRead Your Financial Statement

Allows Develop a 1 minute presentation that you would Allows Develop a 1 minute presentation that you would share with another employee. The presentation would share with another employee. The presentation would help the employee understand your financial statement help the employee understand your financial statement in easy terms. Use the space below to plan your in easy terms. Use the space below to plan your presentation.presentation.

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Budget ScenarioBudget Scenario

AAsking You are the manager of trucking company with approximately 100 sking You are the manager of trucking company with approximately 100 employees. The past year has been challenging for you and your team. You employees. The past year has been challenging for you and your team. You have experienced a hiring freeze which meant you did not get to fill 3 have experienced a hiring freeze which meant you did not get to fill 3 positions you desperately needed to run the company effectively. positions you desperately needed to run the company effectively.

Your boss (the owner) has just informed you that there are several major Your boss (the owner) has just informed you that there are several major initiatives rolling out in the next year and your budget situation will be initiatives rolling out in the next year and your budget situation will be impacted. You have been asked to reduce discretionary spending elements impacted. You have been asked to reduce discretionary spending elements of your budget by 10% this next year. This seems nearly impossible for you of your budget by 10% this next year. This seems nearly impossible for you since you already feel as if you do a good job of managing your expenses. since you already feel as if you do a good job of managing your expenses. Last year, you trimmed your budget by 6% and kept expenses to a minimum. Last year, you trimmed your budget by 6% and kept expenses to a minimum.

This year is like many of the other years. You don’t have as many jobs as This year is like many of the other years. You don’t have as many jobs as compared to last year and you are down a few drivers. You are also now compared to last year and you are down a few drivers. You are also now running another department and need to come up with more ideas for running another department and need to come up with more ideas for process efficiencies. process efficiencies.

In the end, your Total Operating Expenses will need to decrease. In the end, your Total Operating Expenses will need to decrease.

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Scenario QuestionsScenario Questions

How is your business unit tracking to their actual expected YTD How is your business unit tracking to their actual expected YTD compared to the forecast? compared to the forecast?

What discretionary expense areas do you specifically have control What discretionary expense areas do you specifically have control over?over?

What types of forecast alterations should you make in order to reach What types of forecast alterations should you make in order to reach the 10% reallocation (effectiveness changes, etc.)?the 10% reallocation (effectiveness changes, etc.)?

How would these changes affect employees? If negative, how How would these changes affect employees? If negative, how would you position the communication with employees so they would you position the communication with employees so they understand why you are making these budget changes?understand why you are making these budget changes?

How will these budget changes impact other parts of the company?How will these budget changes impact other parts of the company?

How will these budget changes impact the company’s Shareholder How will these budget changes impact the company’s Shareholder Value?Value?

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Fuel Efficiency Operational Fuel Efficiency Operational EffortsEfforts

What are you currently What are you currently doing to effectively manage doing to effectively manage your Operational Fuel your Operational Fuel Options?Options?

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Pricing and Costing ActionsPricing and Costing Actions

What areas do you need to effectively price and What areas do you need to effectively price and cost in your company?cost in your company?

How do you currently ensure you are getting the How do you currently ensure you are getting the best price possible for your goods and that you best price possible for your goods and that you are bidding the best price for the job?are bidding the best price for the job?

How can you be more effective in this process?How can you be more effective in this process?

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Environmental ControlsEnvironmental Controls

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Business EthicsBusiness Ethics

Ethics is defined as:Ethics is defined as:Ethos (Greek), “custom”, “usage”, or “character”, Ethos (Greek), “custom”, “usage”, or “character”, science of the ideal human character or moral science of the ideal human character or moral dutyduty

Dr. Albert Sweitzer defines it as:Dr. Albert Sweitzer defines it as:

“…“…the name we give to our concern for good the name we give to our concern for good behavior. We feel an obligation to consider not behavior. We feel an obligation to consider not only our own personal well-being, but also that only our own personal well-being, but also that of others and of human society as a whole.”of others and of human society as a whole.”

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Your Ethics PlanYour Ethics Plan

Key behaviors to focus on for the companyKey behaviors to focus on for the company

Steps to ensure these behaviors are Steps to ensure these behaviors are integrated and educated throughout the integrated and educated throughout the companycompany

Steps to ensure there is follow-up and Steps to ensure there is follow-up and accountability built into the companyaccountability built into the company

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DocumentationDocumentation

Apart from following the company's Apart from following the company's performance review process, documenting performance review process, documenting various conversations with employees is various conversations with employees is necessary because it may impact the type necessary because it may impact the type of discipline you administer, including of discipline you administer, including whether to terminate employment. whether to terminate employment.

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Documentation TipsDocumentation Tips

Document "performance and conduct" conversations on the Document "performance and conduct" conversations on the same day that the conversation takes place.same day that the conversation takes place.

All documentation of conversations with employees should All documentation of conversations with employees should include the date of the conversation, your name and title, and include the date of the conversation, your name and title, and the employee's name and title.the employee's name and title.

Do not abbreviate, editorialize, or characterize in your written Do not abbreviate, editorialize, or characterize in your written record.record.

Always include the "take away" from the meeting in your notesAlways include the "take away" from the meeting in your notes. .

Make notes regardless of whether the conversation is Make notes regardless of whether the conversation is considered a formal action (i.e., verbal counseling, etc.) under considered a formal action (i.e., verbal counseling, etc.) under your company's discipline policies.your company's discipline policies.

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Documentation Tips ContinuedDocumentation Tips Continued

If you write your notes in a document on the If you write your notes in a document on the computer, do not maintain them on a shared drive.computer, do not maintain them on a shared drive.

Do not manage employees through e-mail! Do not manage employees through e-mail!

Follow your company's policy regarding which Follow your company's policy regarding which documents should be included in the official documents should be included in the official personnel file and which should be in your personnel file and which should be in your manager's file.manager's file.

Be sure you do not keep notes of conversations with Be sure you do not keep notes of conversations with employees about private mattersemployees about private matters

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Objective and Subjective Objective and Subjective CriteriaCriteria

Always hire/promote the most qualified candidateAlways hire/promote the most qualified candidate

Use objective criteria to guide your decisions such as Use objective criteria to guide your decisions such as merit, performance, and job qualificationsmerit, performance, and job qualifications

Apply all policies consistentlyApply all policies consistently

Avoid assumptions about an employee’s abilities, career Avoid assumptions about an employee’s abilities, career goals, or intentionsgoals, or intentions

Address concerns of discrimination separately from Address concerns of discrimination separately from performance issuesperformance issues

Avoid banter and related conductAvoid banter and related conduct

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Workplace DiscriminationWorkplace Discrimination

Title VII of the Civil Rights Act of 1964 is the cornerstone Title VII of the Civil Rights Act of 1964 is the cornerstone of the federal laws that prohibit discrimination in the of the federal laws that prohibit discrimination in the workplace.workplace.

This law prevents discrimination or harassment of This law prevents discrimination or harassment of employees because of race, color, religion, sex employees because of race, color, religion, sex (including pregnancy), or national origin. Oregon law (including pregnancy), or national origin. Oregon law also includes gender and sexual orientation. Title VII also includes gender and sexual orientation. Title VII also prohibits employers from retaliating against also prohibits employers from retaliating against employees who have raised a complaint or filed a claim employees who have raised a complaint or filed a claim of employment discrimination.of employment discrimination.

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Labor LawsLabor Laws

Family medical leave act (FMLA)Family medical leave act (FMLA)

Equal pay act of 1963Equal pay act of 1963

Older workers benefit protection actOlder workers benefit protection act

Religious discriminationReligious discrimination

American with disabilities actAmerican with disabilities act

Glass ceilingGlass ceiling

Age discrimination actAge discrimination act

Pregnancy discrimination actPregnancy discrimination act

Race discriminationRace discrimination

Fair labor standards actFair labor standards act

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Minimizing the RiskMinimizing the Risk

Guard your words and actionsGuard your words and actions

Investigate and documentInvestigate and document

Get help when you are involved in an Get help when you are involved in an issueissue

Be consistent and professionalBe consistent and professional

Avoid unnecessary litigationAvoid unnecessary litigation

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Your Legal ChecklistYour Legal Checklist

Minimize legal risks to your companyMinimize legal risks to your company

Identify actions to implement to prevent Identify actions to implement to prevent legal exposure and situationslegal exposure and situations

Create educational processes to ensure all Create educational processes to ensure all employees work towards this goalemployees work towards this goal

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Typical Operational StylesTypical Operational Styles

JumperJumper

PerfectionistPerfectionist

SkimmerSkimmer

IndecisiveIndecisive

ProcrastinatorProcrastinator

In-SightIn-Sight

Out-of-SightOut-of-Sight

The PilerThe Piler

Pack RatPack Rat

Classic SlobClassic Slob

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Managing Your DesktopManaging Your Desktop

Get organizedGet organized

Touch it onceTouch it once

Adopt a constant companionAdopt a constant companion

RerouteReroute

RespondRespond

ReadRead

RecycleRecycle

Strip, clip and flip!Strip, clip and flip!2929

Time Management MatrixTime Management Matrix

UrgentUrgent

Not UrgentNot Urgent

ImportantImportant

Not ImportantNot Important

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Time BanditsTime Bandits

WHO ARE THE TIME BANDITS? THEY ARE THOSE MISCHIEVOUS SPIRITS WHO ARE THE TIME BANDITS? THEY ARE THOSE MISCHIEVOUS SPIRITS WHO SHACKLE US TO OUR CLOCKS, MISPLACE OUR CAR KEYS, AND WHO SHACKLE US TO OUR CLOCKS, MISPLACE OUR CAR KEYS, AND DOUBLE-BOOK OUR MEETINGS EACH DAY. TIME BANDITS SLYLY STEAL DOUBLE-BOOK OUR MEETINGS EACH DAY. TIME BANDITS SLYLY STEAL OUR PRECIOUS MOMENTS BY IMPOSING OBSOLETE RULES THAT NEED A OUR PRECIOUS MOMENTS BY IMPOSING OBSOLETE RULES THAT NEED A NEW TWIST TO FIT OUR RAPIDLY CHANGING WORLD. THEIR GREATEST NEW TWIST TO FIT OUR RAPIDLY CHANGING WORLD. THEIR GREATEST PLEASURE IS TO STEAL OUR TIME AND ENERGY, THEN GLEEFULLY WATCH PLEASURE IS TO STEAL OUR TIME AND ENERGY, THEN GLEEFULLY WATCH US RUSH THROUGH LIFE IN A FRANTIC ATTEMPT TO CATCH UP. IF THEY US RUSH THROUGH LIFE IN A FRANTIC ATTEMPT TO CATCH UP. IF THEY COULD, THEY WOULD REMOVE ALL OF THE JOY AND SPONTANEITY FROM COULD, THEY WOULD REMOVE ALL OF THE JOY AND SPONTANEITY FROM OUR LIVES. TIME BANDITS OPERATE IN THE DARK; WE DO NOT SEE OR OUR LIVES. TIME BANDITS OPERATE IN THE DARK; WE DO NOT SEE OR RECOGNIZE THEM AS THEY UNDERMINE OUR EFFORTS TO BE CREATIVE RECOGNIZE THEM AS THEY UNDERMINE OUR EFFORTS TO BE CREATIVE AND PRODUCTIVE. BUT ONCE THEY ARE BROUGHT OUT INTO THE LIGHT OF AND PRODUCTIVE. BUT ONCE THEY ARE BROUGHT OUT INTO THE LIGHT OF DAY, THEY QUICKLY LOSE THEIR POWER OVER US AND CAN BE DAY, THEY QUICKLY LOSE THEIR POWER OVER US AND CAN BE DISCOVERED AND ARRESTED.DISCOVERED AND ARRESTED.

Ann McGee-CooperAnn McGee-Cooper

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AlignmentAlignment

Write down the vision for your organization.Write down the vision for your organization.

List at least three of your major goals and objectives.List at least three of your major goals and objectives.

What are your core responsibilities/deliverables to What are your core responsibilities/deliverables to external and internal customers?external and internal customers?

How do you align your daily/weekly/monthly activities to How do you align your daily/weekly/monthly activities to support the vision/mission and objectives?support the vision/mission and objectives?

Identifying your areas of professional development and Identifying your areas of professional development and skill improvement.skill improvement.

How much time are you devoting to your development How much time are you devoting to your development on a monthly basis?on a monthly basis?

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PrioritizationPrioritization

1.1. Do it now!Do it now!

2.2. Do it today!Do it today!

3.3. Do it this week!Do it this week!

4.4. Do it in the next few weeks!Do it in the next few weeks!

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How to Say NO!How to Say NO!

Helping others see Helping others see things yourthings your

  No to more workNo to more work

  No to Colleagues No to Colleagues and Coworkersand Coworkers

  No to unwanted No to unwanted overtime and overtime and unwelcome unwelcome business travelbusiness travel  

No to clients and No to clients and customerscustomers

  No to the BossNo to the Boss

No to unreasonable No to unreasonable demandsdemands

  No to time wastersNo to time wasters

  No to impossible No to impossible assignmentsassignments

No to bad ideasNo to bad ideas

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Optimizing Your IT SystemOptimizing Your IT System

What are you currently doing to effectively What are you currently doing to effectively manage these systems?manage these systems?

  What can and should you do to enhance What can and should you do to enhance the effectiveness of these systems?the effectiveness of these systems?

  How will these changes improve the How will these changes improve the business?business?

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Workplace Safety and WellnessWorkplace Safety and Wellness

List the actions you are currently taking as List the actions you are currently taking as it relates to workplace safety and wellness.it relates to workplace safety and wellness.

What should you be doing?What should you be doing?

How can you effectively manage and How can you effectively manage and implement a world class workplace safety implement a world class workplace safety and wellness program?and wellness program?

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Building a Business PlanBuilding a Business Plan

ActionsActions

ProcessProcess

TimeframesTimeframes

OwnerOwner

CostsCosts

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Workshop ClosureWorkshop Closure

Assessment(s)Assessment(s)

FeedbackFeedback

EvaluationsEvaluations