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Business Acumen: Improving the Value Chain through Understanding the 5 Drivers
We will be hosting a special event Business Acumen workshop on October 25 in Sydney CBD. This workshop will be hosted and delivered by Stuart Findlay: Lighthouse facilitator, MBA holder and experienced senior business manager.
How do you equip your customer and sales people to maintain and improve focus on customer experience, employee engagement and commercial requirements to balance different stakeholders?
Typically, Business Acumen is often associated with a desire to understand and deal with a business matter to achieve a desirable outcome. We consistently hear from CEOs and senior business leaders that most of their people are professionally competent – i.e., they understand the responsibility of their role and do a pretty good job at it. The same CEOs and senior leaders tell us that far fewer of their people understand the strategy of the organisation, the competitive dynamics of their industry or how what they do functionally effects the money-making process. Organisations that develop Business Acumen in their people achieve stronger results, higher engagement and better alignment of strategies to day-to-day activities.
Every organisation is powered by five business drivers: cash, profit, assets, growth and people. Each driver is unique and based on a specific set of key metrics, and you can’t affect one without influencing the performance of another.
Your people’s ability to understand these relationships and affect these drivers through their decisions and actions can increase their ability to contribute to the long-term profitability and growth of your company, as well as focus on what’s important.
The strong focus on the development of finance capabilities through the Building Business Acumen (BBA) Program enables people to ‘connect the dots’ of global business strategy and financial outcomes.
There are some key areas where improved business acumen behaviours can support sales people to achieve the following outcomes.
- Grow the business, through understanding the value chain
- Develop the Account strategy to put it in the customer context
- Demonstrate an intimate understanding of customer needs and proactively put forward solutions to suit the customer environment
- Apply financial knowledge to identify revenue/margin/cost saving opportunities
- Understand their customers through their financials and the markets that they operate within.
- Tap into greater revenue opportunities through value added consultancy rather than transactional “Price Pushing” sales
- Become valued by customers for their business acumen and sought out to partner with them
- Support more strategic (less transactional) client relationships
Join us for this informative and interactive workshop event for Senior Customer Leaders and L&D Specialists where, through the lens of the 5 Drivers model, you will learn the skills required to successfully talk the language of customers through increased understanding of strategy and improved confidence in strategic commercial discussions. ed decisions
This event is an ideal way to gain insight into the Lighthouse Building Business Acumen program which is being utilised by companies such as NAB, QBE, Treasury Wine Estates, Medtronic, Optus and others to grow business through better customer interactions.
Please register your interest by clicking the Enquire Now button to the right or by emailing [email protected]