Improving Business Acumen
COURSE NUMBER: MT-20
The improving business acumen program is for staff and managers who want to acquire the essentials of running a business from the perspective of the Managing Director or the owner. It focuses equally on the operations, marketing, strategy, administration, sales and finance elements of the business. It’s run in a board-based game format with up to six teams competing for business within an established market environment.
There’s no need to be afraid of dry theoretical lectures because this Business Acumen is based on the principles of experiential learning. The participants experience for themselves what it is like to run a company, actively make decisions and immediately see the effects of their decisions. The focus lies on knowledge that can be applied in practice, together with a thorough understanding of the connections between business functions and management activities.
This course helps enable staff to identify the profit control levers they can affect within their job and how these levers can improve corporate performance. It helps to eliminate the barriers between various business functions and allows the staff to see the critical inter-relationships between them.
Upon completing this training, participants are better able to understand the financial implications of operational and strategic decisions, analyze financial reports and use them for decision making and to understand fundamental management principles and the connection with everyday business. They will also be able to analyze balance sheets, profit and loss statements, cash flows, budgets and key ratios, and as a result, better understand how their own actions contribute to the company’s performance.
People, process and technology are the key ingredients of complex teams and a successful leader and team member needs to have knowledge and experience in:
- Finance and Accounting
- Cost Accounting
- Ratios and Key Performance Indicators
- Value Creation and shareholder Value
- Performance from the Shareholders’ Perspective
- Implementing What You have Learned
Who should attend
Improving Business Acumen can be specifically tailored for employees at any level who need to better understand the inter-relationships between various business functions as well as their own personal role in improving the business. Typical target groups include staff and managers from human resources, marketing, sales, engineering, IT, R&D, accounting/finance, legal and project management.
Note: Additional contents may include managing project resources and costs, operational processes and their costs, supply chain/inventory management, capacity decisions, purchasing, selling, etc. Special versions of this course are available for service, retail and manufacturing companies. If requested, the contents can also be tailored to your or your competitor’s industry, company, audience or training objectives.
1 day – Simple Introduction; 2 days – Full Program or tailored version
English, German, French, and Spanish.