Understand How Value is Generated and Progress your Career
Businesses are large, complex entities, and what happens within them can seem too complicated to understand, yet understanding how they work is key to your professional success. Participants will explore the fundamentals of how businesses function, starting with first principles of what businesses are, why they are formed, who is involved in managing them and how business decision making is formulated. The course will explain key business concepts relating to corporate growth, competitiveness and profitability. In particular participants will learn how business strategies are formulated, how business capabilities are created and utilized to fulfil those strategies, and how the different departments of an organization combine to generate value for its customers, its employees and its owners.
Understanding these fundamentals of how businesses really work will help professionals of all levels both in fulfilling their manager’s requirements within their current roles and in progressing their career towards more senior levels.
What you'll learn-and how you can apply it
By the end of this live, hands-on, online course, you’ll understand:
- Why businesses exist and who they generate value for
- How businesses are managed and who is involved in their management
- How business strategy is formulated and enactioned
- The relationship between the business and its customers
- How business capabilities combine to generate business outcomes
- The role of business finance and the basics of financial decision making
- How businesses strive to remain competitive in a changing world
- The role of owners, senior leaders and departmental managers
- Why businesses fail and how failure can be avoided
And you’ll be able to:
- Perform basic research and analysis of a particular business
- Use industry standard concepts to understand and explain core aspects of a business
- Use industry standard tools to understand and analyze a company’s business model
- Explain how business capabilities combine to deliver business outcomes
- Explain how business strategy is formulated and enacted
- Explain the role of business finance and how a return on investment is measured
This training course is for you because...
- Your role requires you to understand and communicate with business leaders
- Your role requires you to understand and analyze businesses
- You wish to develop your business management and leadership skills
- Your role requires you to sell business outcomes to your customers
- Your role requires you to support customers in attaining their business outcomes
- You aspire to advance your career by taking on more senior roles
- Experience working for a company in any role
About your instructor
Rick Adams's career has included owning his own SaaS business, helping Cisco to develop its global certification programs, and training many hundreds of pre- and post-sales technology professionals in over 30 countries across the Americas, Europe, Africa, Asia, Australia, and Far East.
His passion lies in helping others to learn, grow and apply their new knowledge and skills to make a real and measurable difference in the world.
His mission is to help as many professionals as possible to realize their maximum potential through learning and development.
The timeframes are only estimates and may vary according to how the class is progressing
Business Fundamentals (42 minutes)
- Discussion: Why do businesses exist?
- Presentation: The purpose of business and business types
- Sum of the whole greater than its parts
- Greater coverage/leverage
- Soul trader, partnership, privately owned company, publicly traded company
- Beneficiaries of a business (owners, employees, customers, government)
- Discussion: What do businesses do?
- Presentation: How businesses work
- Business departments (Porter’s Value Chain)
- Business capabilities (people, process, tools)
- Business resources (expertise, equipment, stock, goodwill, finance)
- Customer and supplier relationships (key partners, customer segments, direct/indirect models)
- Exercise: Apple’s customer segments and key suppliers
- BREAK (5 minutes)
Business Management (42 minutes)
- Discussion: How are businesses managed?
- Presentation: Principles of business management
- Owners, senior leaders, departmental managers and team leaders
- External drivers for change (PEST)
- Internal drivers for change (SWOT)
- Vision, mission, strategies and tactics (Business Motivation Model)
- Discussion: What makes a business successful?
- Presentation: Principles of business success
- The value proposition and competitiveness
- Innovation and entrepreneurship (Agile, Lean, Design Thinking)
- Business culture and working practices
- Customer-centricity, customer experience and brand strength
- Exercise: Apple’s vision, mission and value proposition
Business Finance (30 minutes)
- Discussion: How do investment decisions get made?
- Presentation: Principles of business finance
- The need for growth and profitability
- How ROI (return on investment) is calculated
- How and why value is calculated
- Creating and presenting the business case and the finance case
- Exercise: The total value of an iPhone customer to Apple