For lasting improvements, it is necessary to put in place a structured approach that looks across the whole business to improve productivity. This course takes a comprehensive look at the various options your or your client’s business has for long-term improvement. You will learn how to control costs by examining pricing strategies, margins and discounts; how to maximise customer profitability, how to control inventory and eliminate waste and the ways you can improve profit by assessing the assets and financing of the business.
This course will enable you to:
- Understand the basics of building a successful
business from ensuring staff are motivated to keeping up to date with the
digital transformation
- Apply practical approaches to improve revenues keeping
the existing customer base in mind
- Explore different methods designed to optimise costs,
deliver value, eliminate waste and non-value-added costs
- Identify practical ways your or your client’s business can make use of its’ assets and control its’ liabilities
Course Content
Building the Foundations for Business Success
- What are the key factors that affect motivation?
- How important is communication to a business?
- How should a business determine its objectives?
- What are key success factors?
- What is diversification?
- How do you improve business processes?
- How can going digital help businesses?
Improving Revenues
- What is customer profitability analysis?
- How do you identify brand value?
- What is the product life cycle?
- Why is product planning important?
- What are the barriers to entering a new market?
- How should businesses handle pricing?
- What is value-based pricing?
- How do you maximise gross margin?
- What is upselling?
- Why is it important to have an innovation strategy?
Optimising Costs
- What is cost optimisation?
- How do you identify cost optimisation opportunities?
- Who is responsible for cost optimisation programmes?
- What are some initiatives for strategic cost
optimisation?
- How do you reduce waste?
- What is absorption costing?
- What is activity-based costing?
- What is marginal costing?
- How can you outsource services?
- What are the impacts of outsourcing?
Making Use of Assets and Finance
- What do you need to consider when setting financial
targets?
- Why should businesses prepare budgets?
- What is a sensitivity analysis?
- How can businesses make tangible assets work?
- What are the options for managing cash?
- How do you maximise internal funding?/li>
- What is the operating cash cycle?
- How should you manage inventories?
- What is the just-in-time approach?
- What is the economic order quantity?
- How do you manage receivables?
- How do you manage payables?