Presentation Transcript

1. Lecture : 2 BUSINESS AWARENESS
2. Definition of Business Awareness
3. Components of Business Awareness There are three key areas that enable business awareness which includes the process areas that must be performed competently in order to generate the desired business results such as : the business functions, related-activities, and the individual Finally, business awareness also requires an understanding on the industry and it’s influence on the local, national and global economics. (http://gbeaubouef.wordpress.com/tag/business-awareness/)
4. CHALLENGES IN BUSINESS AWARENESS Researches Conducted By Marschall Poland Indicates: a lack of emphasis in the area of business awareness in organisations. no tools to explore the competence gaps in the so called “hard skills“ competency which are technical or administrative procedures related to an organization’s core business. lack of consulting & developmental in this field. lack of time by the Top Management for the implementation and development of business awareness in the company.
5. ASSESSING YOUR GENERAL BUSINESS AWARENESS Ask yourself the questions below to assess if you need to develop your general business awareness: What is a business? What is the difference between a sole trader, partnership, private limited company, franchise & public limited company? What factors impact on business cash flow? And how can you define profit? What are the main differences between public and private sector organisations? How does a business attract and keep customers? How can a business differentiate itself from its competitors and gain a competitive advantage? How can a business build and maintain its reputation? How can good relationships be maintained with customers, employees and suppliers? How has business responded to globalisation? Why are businesses concerned about their social responsibility image? What impact is the state of the economy likely to have on business decisions? What impact might the political environment have on businesses? (http://www.ed.ac.uk/schools-departments/careers/using-careers-service/cvs-apps-interviews/business-awareness/assessing-awareness)
6. INTRODUCTION TO BUSINESS AWARENESS The business awareness is one of the areas, that has crucial influence on the development of every company/organization in all its activities such as: Production Sales & Sales & Marketing, Finances Etc. The business awareness constitutes the set of so called "hard" competences that has direct influence on the quality and effects of everyday decisions made by the employee concerning the business and functioning of the enterprise
7. PRODUCTION Examples of business awareness needed in terms of production are as follows : Market share (Volume Share, Value Share) Average Price per Unit, Item Perfect order KPI (covering the market, succes ratio,) Effective systems of distribution Market analysis - interpretation of reports Other criteria established individually for the examination
8. SALES & MARKETING Examples of business awareness needed in terms of sales & marketing include: Segmentation of consumers Positioning of products Principles of marketing strategies Tools of an advertising campaigns Marketing MIX 4P + 3P Price flexibility BCG Portfolio analysis Other criteria established individually for the examination
9. FINANCE Examples of business awareness needed in terms of finance are as follows : Basic financial notions P&L Cash flow (idea + basic Cash flow) Balance (idea + bases of balance) Forms of securing the amount due Cost of capital Financial parameters - return from investment in the region - indicator of the rotation of the amount due - indicator of the debt Evaluation of the financial condition of distributors Return on investment ROI Other criteria established individually for the examination
10. IMPACT OF LOW BUSINESS AWARENESS OF EMPLOYEES The Sale / Market Awareness – The Loss Of Market Shares The Financial Awareness – The Rock Bottom Or The Lack Of The Return Poor Budget Utilization The Marketing Awareness – Bad Defining And The Lack Of Understanding Needs Of Customers