Important Business Executive Training Information
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Course Preparation
- The following books are provided for pre-course reading: Key Management Models, 3rd Edition: The 75+ Models Every Manager Needs to Know, The 30 Day MBA in Business Finance, The 30 Day MBA in Marketing
Business Executive Training Outline
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Developing Your Industry Sector Skills
Assessing the playing field
- Identifying the forces that drive competition in your industry sector using Porter’s five forces
- Examining the prevailing market structure in your industry
- Using perceptual mapping to position products/services relative to competitors and highlight potential market gaps
Knowing your playing field
- Appraising your organization’s cash cows, stars, dogs and question marks using a Boston matrix
- Knowing where your product/service is in its life cycle – R&D, introduction, growth, maturity and saturation, decline
- Sourcing and comparing information on company and competitor performance
Recognizing the key players in the field
- Classifying the key players in the business-to-business chain that links to end-consumers
- Diagnosing the current Political, Environmental, Social and Technological (PEST) factors that influence the sector
- Determining the underlying trends, cyclical factors and random movements that underpin your market sector
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Enhancing Your Financial Acumen
Deciphering financial statements
- Cash flow statement
- Profit and loss account
- Balance Sheet
Analyzing accounts
- Determining if the four criteria for making a satisfactory return on investment are being met
- Identifying whether a sound financial position is being maintained, avoiding risks from overtrading or heavy borrowing
- Selecting an appropriate growth strategy, either by becoming more efficient, gaining economies of scale or improving quality of products
Appraising investments
- Investigating the internal rate of return for an investment
- Applying discounted cash flow to an investment to determine the value of future returns
- Utilizing break-even analysis to determine the payback period for an investment
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Establishing Marketing Fundamentals
Selecting your strategy
- Choosing the strategic position of your product/service in the marketplace using Kotler’s 4Ps
- Selecting and analyzing which of Porter’s three marketing strategies is most effective for your product/service: differentiation, cost leadership or focus
- Developing a growth strategy using the Ansoff matrix
Researching your markets
- Selecting the marketable features and benefits of your product/service
- Specifying the needs of the three categories of business buyer
- Deciding the 20% of customers that account for 80% of your profit
Sending your message to your people
- Determining which of your market segments are worth trying to sell to
- Knowing your unique positioning proposition
- Applying the five questions that underpin all advertising and promotion activities
Business Executive Training FAQs
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Can I learn Business Executive Training online?
Yes! We know your busy work schedule may prevent you from getting to one of our classrooms which is why we offer convenient online training to meet your needs wherever you want, including online training.