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Who will the lesson benefit? - 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
What delegates will learn 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
Contents of this class 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
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