Financial & Commercial awareness

There has never been a greater need to have managers with financial acumen

Financial & Commercial awareness

The global financial crisis has brought unprecedented change. The commercial landscape has changed forever. As international organisations collapse, Governments intervene, revenues drop and profits are increasingly squeezed, there has never been a greater need to have managers with financial and commercial acumen.

It is increasingly important that staff do not view the organisation from their functional perspective but see the whole integrated commercial picture. They require a broad understanding of how each function connects and where they fit. How does the business actually work? What do all of the figures mean? What does all the financial jargon mean? They need a language which enables them to work together and run the business as a dynamic integrated whole.

OnTrack has a range of solutions to develop financial and commercial acumen. This includes workshops, seminars and our unique flexible business simulation. The simulation is engaging. Participants will set up and manage their own simulated organisation allowing them to feel the pressures of running a business and better understand how decisions and employee actions influence the financial success of the organisation. They will receive wider industry knowledge, expert tips and develop increased competence and confidence in this discipline.

This product area is led by Peter Hurst. Peter brings his commercial and financial experience gained from more than 20 years in the finance industry and many years of training on the subject in a range of blue chip organisations. He has real passion for the topic and appreciates the importance of commercial acumen for the health, wealth and success of an organisation.

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Our approach helps:

Develop financial and commercial awareness and broader understanding of the integrated whole organisation
A common language to evolve which enables managers at all levels and disciplines to engage and work together for the greater whole
Raise awareness of the tools of finance and what each one does and how to use and optimise each one

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Big Picture – how a business functions
Financial Tools – the key financial instruments and what each does and how to use the data
Financial Language – understanding jargon and creating a common language to enable integrated team work

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Banking

Our client had recruited the best of the best graduates. The challenge was to harness their creativity and intelligence but in a commercially focussed way. They needed to think differently, understand the impacts of actions on financial results and get to grips with the commercial drivers for success in their organisation. Ultimately this had to lead to an ability to make decisions which would create value for their business.

Professional services

This professional services company is a multi-national client which runs its complex business through a series of country executive boards. Each board member is an expert in their field but the vast majority had reached their senior position through a deep professional competence. Our solution helped them to deepen their financial expertise, to understand the different parts of the business to which they were less well connected and where there could be opportunities to drive commercial success.

Pharmaceutical

Cost centre managers in this large global business needed help to understand how they should fulfil their responsibilities during a time of significant change to systems. There was a wide range of understanding, experience and seniority to manage throughout the development from board members to junior management. The development delivered was creative, flexible and practically focussed and delivered jointly with the client for maximum success.

F&C MasterClass, Financial and Commercial Awareness; workshops, seminars and FlexSim Business Simulation.

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