Business Fundamentals Course

Course programme

Aim

The course will support learners in understanding business fundamentals to be able to apply theory and skills that can be put into practice back the workplace.

Outcome

Learners will have gained a higher level of knowledge and understanding of the fundamentals of business planning and finance. Learners will know what to plan for and how to plan, organise and delegate. They will gain insights into the requirements and resources that need to be in place for the smooth running of a business. They will be equipped to source and retain staff and develop staff and communicate effectively, engaging with the workforce and stakeholders. The training will have paved the way to unlock business potential, create sales opportunities, overcome issues and ensure that effective working practices are in place.

Impact

Following training and action planning, learners will gain a greater level of confidence that will impact on improved working practices and ultimately the bottom line.

Day one 

Business Acumen

Understanding the fundamentals of business acumen and commercial awareness is a key requirement in Leadership and Management. An understanding of how the organisation operates, knowing what customers want and how business makes money and makes a profit, is imperative.

This course will help managers demonstrate a high level of motivation, interest and focus on the bottom line. Having a commercial mind-set to fit with the strategic focus of the business and caring for the interests of the organisation as a whole, are fundamental to achieving a desired outcome.   The need to create a way of ‘thinking’ and ‘doing’ that impacts on how problems are solved, decisions are made expectations are met is key.

With will establish

• The values, vision, mission and strategy of the company
• Identify what the business needs to do to be profitable and successful
• Operate efficiently and effectively
• Identify trends in the business from a competitive perspective
• Meet the needs of all stakeholders
• Manage risk and overcome business problems

Topics

• Definition of business acumen and why it is important
• Definition and meaning of strategic thinking – accounting for tactical and operational effectiveness
• Fundamentals that drive results -people, processes, technology
• Setting goals and objectives- using SMART tool
• Planning and organising techniques – SWOT/ PESTLE analysis
• Financial planning and what it entails- how to access support
• Identify costs and relationship to business sustainability
• Gain an understanding of break-even analysis
• Managing budgets and conducting cost benefit analysis

Day two 

Planning and Organising for Operational Effectiveness

A successful business needs to account for planning and organising of its business functions. We will consider legal requirements, sustainability, health and safety compliance and HR related matters. The course will allow business owners and managers to reflect and review their current practices and how to maintain standards make improvements or amendments.  It offers a check list and assessment that is relatable to all business sectors. It helps businesses become an employee, customer and investor magnet.

We will establish

• Why we need to have policies in place and why are they there.
• The importance of having a good health and safety culture and how this impacts on staff morale, business finances and compliance with the law.
• How to engage with our workforce and keep them up to date with matters and working effectively departmentally and interdepartmentally. Strengthening good teamwork and job satisfaction.
• Understanding the importance, the ‘way we work’ and how to apply ethical values to business behaviours. It will help avoid things going wrong and promotes an open and positive workplace culture and provides sustainability to business.

   Topics

• Policies and procedures that need to be in place – legalities, insurances, accreditations, regulatory requirements.
• Health and safety compliance and training requirements – ensuring a safe place for employees to work and working conditions, identifying mandatory expectations and best practice approach in health safety and the environment.
• Communication and employee engagement effectiveness. How to plan for informing, involving and recognising staff and maintaining a motivated workforce to allow for high morale and productivity.
• Ethics – recognise where ethical issues arise in the workplace, how we deal with staff concerns and customer complaints. Managing conflict of interest and acting with integrity.

Training premises

Delivery will be onsite in our training room at Maggie O’Neill Business and Training Centre, Knowsley, Liverpool. If an employer requires training for a bespoke course to be onsite at their premises,  or virtually we can accommodate their needs.

*Subject to eligibility