 Andy Torrance
Instore Operations and Logistics Director
Halfords Ltd
Why did you decide to do this programme?
I needed to brush up on my corporate finance. I sit on the Halfords Board and although I know my way around a P&L, I wanted a deeper understanding of how to evaluate assets, which is important because Halfords actively invests in mergers and acquisitions. Also, I hadn’t done any finance executive training for ten years and was keen to get up-to-date with latest thinking.
And what did you think of it?
My main concern before starting was whether I would be too far outside my comfort zone; that it would be over my head, too technical and maybe a bit dry. It wasn’t the case at all, I thought it was excellent.
Our lecturer was very experienced with a huge depth of knowledge, but at the same time informal and engaging. He went out of his way to make us feel part of the Oxford experience and one evening we even ate at his college. Being at Oxford gives you a sense that you are one of the best and it really makes you want to make the most of the experience. This feeling was further enhanced by the high calibre and broad multi-sector experience of the other people on the programme – the discussions put you in a fantastic mind-set for learning.
What did you learn and how has it been of benefit?
I learnt about analysis and decision-making, how to evaluate and compare investment decisions. I left with a far deeper understanding of risk and how it can affect your appetite for investment.
I will probably never have to actually do a discounted cash flow – there are finance experts who focus on this - but by understanding the underlying principles, technical aspects and potential pitfalls and opportunities, I can now engage with the experts and challenge them where necessary, which often surprises them!
I am able to make a more rounded contribution to strategy development and my influence has increased because people respect that I speak from a position of knowledge. I have a greater insight into what drives value and how this aligns with the strategy.
The programme is particularly useful for those responsible for influencing big investment decisions. It was a very high quality, intensive learning experience which has proved invaluable to my role at Halfords.
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