010 110 0227
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enquiries@themindspa.co.za
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Mon - Fri 09:00-17:00

Business / Commercial Acumen

Training and Development

This high impact one-day training course will develop your management employees to be more decisive and develop their business acumen to deliver clear and measurable business results to improve your bottom line.

 “The most successful business leaders never lose sight of the basics. Their intense focus on the fundamentals of business is, in fact, the secret to their success. Like the street vendor, they have a keen sense of how a business makes money.” -Ram Charan

Business acumen is keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome. Additionally, business acumen has emerged as a vehicle for improving financial performance and leadership development. It can be described as an understanding of how to make money and how to translate vision into a positive reality on the bottom-line.

The course will address frequently asked questions such as:

  • How to understand and speak business language?
  • What is the difference between turnover and profit/ sales vs revenue?
  • What is Accrued vs Deferred revenue?
  • Why is a business budget important?
  • What are the 5 Essential Elements of Business Acumen?
  • How can I make good business decisions?
  • How can I turn plans into profit?
Business Acumen

Who should attend?

  • All Management level employees

Training Outline

Understand and speak business language

  • Comprehensive A-Z listing of business and management terms
  • Critical financial terminology everyone should know and understand

Finance for non-financial managers

  • How do companies make money?
  • What is a Company?
  • Types of Companies
  • Different Ways Companies Make Money
  • Revenue Streams
  • Cost Structures
  • Factors Affecting Profitability
  • Frequently Asked Questions

Revenue vs. Turnover: Key Differences

  • What is revenue?
  • How to calculate revenue
  • What is turnover?
  • How to calculate turnover
  • Importance and effects on business
  • Ratios that use them
  • Requirements for financial reporting
  • Example of revenue
  • Example of turnover
  • What are the differences between turnover vs. profit?
  • Uses for turnover
  • Uses for profit
  • Types of turnover and profit
  • Turnover vs. profit context
  • Frequently asked questions

Accrued Revenue Vs Deferred Revenue – Key Differences

  • What is Accrued Revenue?
  • What is Deferred Revenue?
  • How Does Accrued Revenue Work for Businesses?
  • How Does Deferred Revenue Work for Businesses?
  • Accrued Revenue Impact for Businesses
  • Deferred Revenue Impact for Businesses
  • Accounting for Accrued Revenue
  • Accounting for Deferred Revenue
  • Accrued Revenue Vs Deferred Revenue – Key Differences

Budgeting in business

  • Types of Budgeting
  • Translating Strategy into Targets and Budgets
  • Goals of the Budgeting Process
  • Types of Budgets
  • The Process

Why Is Budgeting Important In Business?

  • Business Budget Management Process
  • The 4 Step Budget Management Process
  • Who manages your budgets?
  • 8 Tips for Business Budget Management
  • Additional Considerations for Successful Budget Management

Understanding Strategy

  • The Importance And Benefits Of Strategic Management
  • The Strategic Management Process
  • Elements Of The Strategic Planning Process
  • Why Strategic Planning Fails

Internal And External Environment Analysis

  • Definition of SWOT
  • How To Do A SWOT Analysis
  • Translating SWOT Issues Into Actions

Turning Plans into Profit

  • How to Measure Whether Your Strategy is Effective?
  • Balanced Scorecard Approach
  • Key Performance Indicators
  • Michael Porter’s Five Forces Analysis

Additional Information

Course Duration: 1 Day

Presented : In-house and online

In-Person/In-House Training Includes:

  • Comprehensive Manual
  • Framed Certificate of Attendance
  • Notepad & Pen
  • Attendance Register
  • Delegate Feedback Form
  • Competency Test
  • Facilitator Feedback Report

On-line Training Includes:

  • Comprehensive Manual
  • Certificate of Attendance
  • Attendance Register
  • Delegate Feedback Form
  • Competency Test
  • Facilitator Feedback Report

Contact us for more information

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