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.
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To give attendees a full understanding of the commercial world in which businesses operate.
Anyone wishing to increase their awareness of how businesses work commercially.
- 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
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.
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.