Commercial awareness - the key issues for profitability

Audience

• Those who are preparing to take up a management role
• Those who are seeking to initiate change within their organisation to ensure commercial success
• Those who deal with or manage suppliers, contractors and buyers
• Functional specialists who have a direct impact on the success of the company
• Individual directors or managers looking to improve their own financial management and commercial awareness
• Commercial managers/ officers
• Contract managers/ officers
• Project managers/ engineers
• Purchasing officers/ managers

Skills Gained

At the end of this programme you will be able to:

• Identify the key factors that influence business stability and success
• Decide on the right approach to developing contracts
• Successfully manage the interface between suppliers and customers
• Negotiate win-win agreements
• Use a range of financial techniques to identify strengths and areas for performance improvement
• Have a clear focus on cash, asset and profit management
• Practice application of skills learnt through a blend of presentation and case studies

Course Outline

New Commercial Boundaries

• What is commerce
• Where commerce happens
• Creeping Commercialisation
• Internal Commerce
• Commerce in Not for Profit organisations

Essential Purchasing

• The role of competition
• Value for money
• Total cost of ownership

Essential Selling

• Price versus value
• Selling value
• Solution selling

Legal Essentials - The Law of Contract

• Principles of contract
• Verbal versus written
• Terms & Conditions
• Offer and acceptance

Key Legislation

• Sale of Goods law
• Competition Law
• Public procurement
• Intellectual property
• Freedom of Information/Data protection

Termination and Dispute Resolution

• Governance
• Breach of contract
• Responsibilities and obligations
• Alternative dispute resolution

Commercial Contract Management

• The problem with contracts
• Defining performance
• The max-min paradox
• Managing performance or managing failure

Review of day one

• Learning points
• Questions and Answers
• Clarification and expansion

Finance Essentials - Balance Sheet Highlights

• Understanding accounts and accountants
• Industry norms
• Key financial ratios

Cash versus Profit

• The flexibility of profit
• Fixed and variable costs
• Cash is king

Financials of Investment Appraisal

• Relevant costs
• Future decision making
• Discounted cash flow

Commercial Risk Management

• Identifying risks
• Prioritising risks
• Dealing with risks

Essentials of Negotiation

• Controlling the negotiation
• Goal setting
• Managing the process
• Planning essentials

Commercial awareness - the key issues for profitability / CM024948