“A good way of elevating my potential as a manager”
Peter Edholm has filled many managerial roles at the truck giant Scania during his almost 26 years within the company. Most recently, he has been Plant Manager for Engine assembly in Södertälje, a unit with more than 1,100 employees. In connection with an ongoing change of managerial roles he participated in two programs at SSE Executive Education.
You have participated in the Business Finance for Managers and Leaders Program and in the Executive Management Program (EMP). What was the background to this initiative?
“Just like for everyone else at Scania, I have an individual development plan that I regularly discuss with my boss. The development plan indicates which areas of competence 
that I could develop further within. We concluded that a good way of elevating my potential as a manager, and thus my ability to contribute to further operational optimization and improvements, would be to fill some gaps in my knowledge when it came to finance and business development. Understanding business finance is becoming increasingly important for anyone in a role that entails significant financial responsibilities. At the same time, at Scania we are always working very hard to change and improve, and it is crucial to have an updated analysis of the external environment, which EMP will give you.”
If we take one program at a time, what are your general reflections on the Business Finance for Managers and Leaders Program?
“Something that made an impression on me was the program’s great range. We started from the basics in the three different reports: the balance sheet, income statement, and cash flow statement, as well as how these are interconnected. Then we continued all the way to when we, at the end of the program, made our own analysis of a company’s reporting and came up with conclusions with suggestions for improvements. The entire span between these two endpoints were covered, for example how various stakeholders view different components, or how the choice of financing options can yield better returns. The wide range really stuck out.
“BUSINESS FINANCE IS BECOMING INCREASINGLY IMPORTANT FOR ANYONE IN A ROLE THAT ENTAILS SIGNIFICANT FINANCIAL RESPONSIBILITIES.”
So, the program lived up to its promise to improve your understanding of the economic and financial aspects of business operations?
“Yes, not least, it gave me a deeper understanding of financial concepts and how they relate to one another, for example financing and leverage effects. One reflection that I had after the course was that there was more to understand than I initially presumed. Now, I master the business finance language much better and I can, for example, be a better sounding-board for a financial manager in my management team. When you are working in a large corporation like Scania, it also feels useful and important to get a better grasp of the overall picture when it comes to the company’s reporting. Even when you have a considerable financial responsibility in your role, you are nevertheless but a cogwheel in a much larger machinery and you don’t always take in how everything is connected as a whole.”
Is there something else with the program that you appreciated in particular?
“I thought that the composition of the group was excellent. There was a mix of different industries, experiences, and company sizes represented, which made for vigorous discussions. When discussing cases there were several different angles of approach present in the room, which made it all very instructive. I also want to give praise to the teacher Johan Graaf who was fantastic, both when it came to knowledge and in the way he caught the group and got all of us along on the journey. Of course, you do have high expectations when participating in a program given by SSE Executive Education, but they delivered on them, as well. Furthermore, they were keen to hear and interested in our feedback and suggestions for improvements.”
To whom would you recommend Business Finance for Managers and Leaders?
“I think that the program works for a quite wide range of all those with financial responsibilities who, at the same time, need to complement their finance knowledge.”
Turning our focus to the other program, EMP, what are your reflections in general?
“In my role, if you are to be successful at efforts to change and improve, which is something that Scania puts high on its list of priorities, you must be updated on the conditions set by the external environment. This is something that the program provides you with, for example through one part that focused on AI, which can be a tool for becoming even more ‘lean’ in different workflows. We were also given an analysis of the political winds that are blowing at present, and their consequences. I furthermore found it very inspiring to listen to the lectures and update my knowledge base for example concerning the global economy, branding strategies, the climate challenge and how to convey a message, as a few examples.”
Did this program also live up to your expectations, with its focus on the most important tools and methods to understand the preconditions for business and operational development?
“Yes, it did. Personally, I appreciated that the focus was not so strong on leadership development since my knowledge gap could be found elsewhere. I also think that you will get more out of the program if you, like myself, have already reflected earlier on the subjects covered. The program demands that you have a certain experience as a manager and that you have a role at the executive level, given that it concerns heavier strategy work such as branding strategy, innovation, and so on.”
Is there something else that you appreciated in particular?
“Something that has stuck with me was the first module with Kjell A. Nordström as lecturer. For me, that was one of those occasions when an insightful person makes a lasting impression and you carry their expressions and ways of thinking with you afterwards. On the whole, you could tell during the program that something special happens when you assemble a group of experienced people together with someone moderating conversations and adding new angles of approach. The EMP group also had a very good composition and we kept chatting long into the evenings, which I think is a pretty good measure.”
What is your view on combining the two programs?
“For me, the programs matched my development needs well. That was something I could tell during the very speedy business finance run-through that was part of EMP. I would have had problems keeping up with that, had I not first participated in Business Finance for Managers and Leaders.”
“SOMETHING SPECIAL HAPPENS WHEN YOU ASSEMBLE A GROUP OF EXPERIENCED PEOPLE TOGETHER WITH SOMEONE MODERATING CONVERSATIONS AND ADDING NEW ANGLES OF APPROACH.
