Commercial acumen is integral knowledge that no senior leader can afford not to have. It is knowing how your business makes money. As businesses become more sophisticated with multiple revenue streams, the business acumen for making correct commercial decisions that influence bottomline figures is vital.
Having worked with organisations over many years we have realised that most employees cannot read a Profit and Loss Statement. Most employees, including senior and frontline managers, don’t understand the difference between profit and cash, and why that difference is important. In our experience this includes ASX 200 and top 50 businesses.
Our Commercial Acumen program ensures your people are across the financial concepts, risks and realities that make business tick.
Commercial Acumen is designed to meet the needs of senior managers and other employees, with adjustment of content in consultation with your organisation.
The program has been designed to provide employees at all levels with:
- A better understanding of their organisation’s business model;
- A working knowledge of business success factors and their own role in that success;
- A solid understanding of finance principles and day-to-day application in commercial activities;
- The ability to read financial statements.
UNDERSTANDING THE ORGANIZATION
- Explores what the organisation does;
- what the ‘business units’ do; AND
- how they fit into the organisation as a whole.
- Financial reports and their functions;
- including the difference between cash flow and profit and loss.
- The use of financial analysis tools such as ratios;
- rates of return and charts.
KEY PERFORMANCE INDICATORS
- Financial and non-financial indicators are discussed;
- and their impact on results.
USING COMMERCIAL ACUMENT
- Applying financial skills to the participants duties and responsibilities in a practical manner.
- How to prepare budgets, forecasts, other forward looking estimates.
- Managing risk and sustainability for business success.
- Improved knowledge of the business;
- Increased understanding of business metrics and results;
- Improved confidence and ability to share financial results;
- Improved decision-making and communication;
- Greater business nous
Developed commercial acumen.
- Alignment of business objectives across the organisation;
- Decreased expenses
Improvement in operations and processes;
- Higher employee morale and overall trust in the organisation.
IN PARTNERSHIP WITH:
GET CERTIFICATION AS AN EXECUTIVE COACH:
“When we started doing staff engagement surveys we were good, but we wanted to be better. That led to the leadership development we’ve done with Executive Central, and through that, all of our financial results improved over that period and our service levels improved.”
“Executive Central has added great value to my career. I find I am a far better coach to people that I supervise and to peers in terms of mentoring.Our relationship with Executive Central is a great collaboration and partnership.”
“Executive Central’s Coaching Academy is practical and it’s real. You can employ the lessons learned from day one. You don’t have to be an executive coach per se, you can be a leader within your organisation. Coaching Academy gives you tools that you can use when working with your people and be able to say to them: ‘actually, here’s something — a concept or approach — you can use in that situation’.
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