When development of employees concentrates on or gets limited to technical skills only, their business knowledge is hampered. When employees’ business knowledge is hampered, their ability to contribute to the success of the business gets limited.
This course is designed for employees to immerse themselves in the dynamics of business and heighten their levels of engagement by reducing their ignorance or misunderstanding about the way business runs.
The participants will be able to improve their judgment and decisiveness skills. They will see the big picture and recognize that all decisions, no matter how small, can influence the bottom line. They will increase their financial literacy and improve their business sense. The bottom line will be higher critical number of employees influencing the whole organization positively and providing that additional edge that will lead to success.
You Must See the Big Picture of the Business
• Understand the way business runs
• Learn beyond technical skills only
• Recognize growth opportunities
• Mindfulness of your judgment and decisions
• Everything is related
• Strong initiative
You Must Know Money Answers
• Focus on the “bottom line” of the business
• What makes my company money?
• What are our Sales?
• What is our Profit Margin?
• What are our Costs?
You Must Understand the Business Risk
• Identify and manage the inherent risks
• Continuous assessment
• External risk factors
• Internal risk factors
• Making adjustments and corrections.
You Must be Financially Literate
• Financial Ratios
• Income Statement (P&L)
• Balance Sheet
• Cash flow statement.
• Asset management
Key Business Levers
• Investing in people
• Effective communication
• Talent management
• Change management
• Organizational management
• Process improvement
• Goal alignment.
Critical Thinking for the Business
• Ask the right questions
- What are the right strategies?
• Organize the business data
• Evaluate the information.
Recognize Learning Events
• Develop a sense of continuous learning
• Evaluate past decisions
• Problems as learning opportunities.