COURSE OVERVIEW
Can you imagine an organization — in any industry — where the leadership and management teams don’t know the business through and through? It sounds unlikely, but according to a new survey by the Institute for Corporate Productivity (i4cp), it’s more common than you think.
In a poll of nearly 400 nationwide respondents, i4cp found four out of five people think there is a moderate to very high level of deficiency in business acumen within their organizations.
Business acumen is an understanding of what it takes for a company to make money. It involves financial literacy, which is an ability to interpret the numbers on financial statements, as well as an understanding of the business strategies that impact these numbers. Higher level of involvement, ability to think strategically and the capability to position your company’s products and services within your customers’ business context are just a few of the positive outcomes of
business acumen.
HOW WILL YOU BENEFIT
- At the end of the 2 – Day Program, participants will be; Learn the overall awareness, knowledge and acumen of the business and apply
that in the context of the environment, industry, company, department and individual job. - Learn how any business makes money and how is that in the attendees companies.
- What is the Process of Business Acumen and what are the building blocks of business acumen and the road map to achieving that.
- Blend the various methods of learning business acumen such as theory, practice and application of knowledge on the learners day to day job.
METHODOLOGY
The training will follow the Andragogy principle i.e. adult learning principles. The main methodologies are:
- Presentations and lectures
- Exercises
- Case Studies
- Mind Sharing and discussions
- Pre-Course Questionnaire
KEY CONTENTS:
BUILDING BLOCK 1:
– DEFINING CUSTOMER SEGMENTS
- The Customer Segment Building Block defines the different groups of people or organizations an enterprise (business) aims to reach and serve.
BUILDING BLOCK 2:
– DEVELOPING A VALUE PROPOSITION
- The Value Proposition Building Block describes the bundle of products and services that create value for a specific Customer Segment.
BUILDING BLOCK 3:
– DEFINING CHANNELS
- The Channels Building Block defines how a company communicates with and reaches its Customer Segments to deliver a Value Proposition.
BUILDING BLOCK 4:
– BUILDING CUSTOMER RELATIONSHIPS
- The Customer Relationship Building Block describes the types of relationships a company establishes with specific Customer Segments.
BUILDING BLOCK 5:
– CREATING REVENUE STREAMS
- The Revenue Stream Building Block represents the cash a company generates from each Customer Segment (costs must be subtracted from revenue to create earnings).
BUILDING BLOCK 6:
– IDENTIFYING KEY RESOURCES
- The Key Resources Building Block describes the most important assets required to make a business model work.
BUILDING BLOCK 7:
– CREATING KEY ACTIVITIES
- The Key Activities Building Block defines the most important things a company must do to make a business model work.
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