Commercial awareness - the key issues for profitability UK Classes & Lessons (Finance) in England

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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