Commercial Awareness
Course Code: COM2AWE
"In the business world, the rear view mirror is always clearer than the windshield." - Warren Buffett
In addition to the specialist skills and knowledge required of any manager, the ability to step back and see the bigger picture and understand how an organisation operates in a commercial environment is essential.
A multi-award-winning business simulation is at the heart of this course, providing you with hands on experience in running a business.
Course can be run as 1 or 2 days.
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If you require the content of this event tailored or have around 7 or more people to train it maybe better for you to host a Private Event, please get in touch to discuss this.
Get in touchDescription
Who is this course for
Anyone wishing to increase their awareness of how businesses work commercially.
Purpose of the course
To give attendees a full understanding of the commercial world in which businesses operate.
You will learn how to
- Explain the relationships between different functions (HR, finance, operations, sales, marketing) of a business and their impact on each other
- Explain the importance of market and competitor research
- Explain basic financial concepts such as fixed and variable costs
- Value the importance of budgets and cash flow forecasts
- Explain the 4 P's of marketing
- Explain what factors contribute to a business's profitability
- Explain the three generic competitive strategies
Prerequisites
None requiredBenefits for you as an individual
Understanding the intricate workings of a business will help you in a multitude of ways, one of the most important ways being the understanding of how departments and functions tie together; this will better inform your future decision making and problem solving abilities.
Benefits for your organisation
Having your managers understand the full business will allow them to make better decisions, drive your business forward, grow your business, and therefore become more profitable.
- Understand the market, your customers and your competitors.
- Design products that meet the needs of customers.
- Manufacture products at a price that is both competitive and economically viable.
- Promote and position your product to raise customer awareness.
- Fulfil customer orders and ensure timely payment is made.
- Continually analyse, monitor and evaluate your position.
- Use strategy to guide decision making but be prepared to adapt to changing circumstances.
Additional Exam Information
There is no exam for this course.This course runs using in part a SimVenture software product.
Course can be run as 1 or 2 days.
Pre-Coursework
None requiredGet Started
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