There are many things to consider when trying to develop a strong commercial mindset. This starts with building up a strong understanding of your business activities, including your products, customers and suppliers. You will also need to develop deep market knowledge of your industry sector, such as key competitors, market trends, capital flows and technology disruptors.
We can all hopefully read our financial statements, but can we recognize and quantify how different actions or strategies will impact our company’s profitability and cash flow? And equally important, how much time these will take to be reflected within the numbers?
Possessing a strong commercial awareness is being able to look beyond the finance function and take a big picture view of the organisation, while still aligning that view with the company’s strategy and values. Doing this makes you well-placed to drive significant growth and value throughout your business.
During this Module, we will cover:
- Understanding your business;
- Developing market knowledge;
- Telling the financial story;
- Driving growth; and
- Maximising shareholder value.