Course Objective

• Identify the key factors that influence business stability and success
• Decide on the right approach to developing contracts
• Successfully manage the interface between suppliers and customers
• Negotiate win-win agreements
• Use a range of financial techniques to identify strengths and areas for performance improvement
• Have a clear focus on cash, asset and profit management
• Practice application of skills learnt through a blend of presentation and case studies

Who Can Benefit

• Procurement and administration employees:
• Who are preparing to take up a management role
• Who are seeking to initiate change within their organization to ensure commercial success
• Who deal with or manage suppliers, contractors and buyers
• Who have a direct impact on the success of the company
• Who are looking to improve their own financial management and commercial awareness

Course Outline

• What are the elements of commercial behavior?
  • Skills and attributes
  • Behaviors
  • Dos and don'ts
• The commercial environment
  • Understanding your company
  •  Objectives – Expertise- Organization
  • Identifying and managing the network of relationships
  • Briefing and communication skills
  • Establishing and using authority and influence
  • Decision-making and management style
• An introduction to buying and selling
  • Differing approaches to specifying goods and services
  • Different types of specification
  • Managing variations and change
  • Winning new business
  • Proposal preparation
  • Pricing
• The legal environment
  • What is a contract?
  • Contract law
  • Intellectual property
• Contract strategy
  • The elements of a contract strategy
  • The division of the performance of the work
  • Pros and cons of different contract strategies
  • Partnerships and alliances
• Managing contracts
  • Breach of contract
  • Arbitration
  • Dispute resolution
  • Supporting your claims
  • Responsibilities and obligations of those involved
  • Useful sources of knowledge
• Persuasion and negotiation
  • Using questions effectively
  • Understanding clients' needs
  • Getting your solution accepted
  • Helping the customer or supplier value your proposals
  • Common negotiation errors
  • Achieving a win-win solution
  • Dealing with difficult situations
  • Assessing your negotiation strengths
• Risk management
  • Identifying risk
  • Prioritizing risk
  • Dealing with risks
• Creating an effective team
  • The members of an effective team
  • Roles in a team
  • Benefits and pitfalls of working in teams
  • Facilitating effective teams
  • Understanding team dynamics
  • Managing conflict
• The financial environment
  • Understanding the accountants
  • The three key financial elements
  • Profits versus cash flow
  • Relevant costs and future decision-making
  • Discounted cash flow

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