Business Management skills
· Demonstrates skill in Planning, Leading, Organizing and Controlling.
· Demonstrates broad understanding of principles of financial management and marketing expertise necessary to ensure appropriate funding levels.
· Demonstrates good financial management: value vs cost
· Integrates the impact of technological changes on the organization.
· Assesses current and future staffing needs based on organizational goals and budget realities. Using merit principles, ensures staff are appropriately selected, developed, utilized, appraised, and rewarded; takes corrective action.
· Prepares, justifies, and/or administers the budget for the program area
· Identifies cost-effective approaches.
· Manages procurement and contracting.
Situaner: The object of business is profit. A Sales executive must consider the profitability of his operation at all times. This a common misconception and mismanagement among sales people to achieve sales at all cost. Thus, there is a need to demonstrate skill in Planning, Leading, Organizing and Controlling of sales towards financial value.
Skill Builder Program:
1. Develop a budget justification for a new project at work or in your community.
2. Watch television programs on financial management issues.
3. Read the business publications that give you a better understanding of financial management. i.e. Inquirer Business Section
4. Watch a budget appropriation hearing and identify key information presented.
5. Attend IT conferences, expos or trade shows.
6. Participate in Tuition Fee Increase negotiation.
7. Use the internet to learn more about managing technology.
8. Visit other organization and learn how technology contribute to efficiency and organizational effectiveness.
9. Visit jobstreet to keep update on job trends and positions.
10. Select a private sector HR practice that has merit.
11. Prepare a return on investment plan for a program in your organization.
12. Prepare a Business Building Proposal with target results and required budget.
13. Participate in budget meeting.
14. Identify ways to save costs on a work or organizational process or project. Then help implement the change.
15. Schedule a short discussion on budgeting and financial planning with your financial officer
16. Test new features of a software application you have installed on your PC. i.e. Microsoft word, excel, powerpoint, outlook,
17. Learn how to use all the features of the programs already on your computer.
18. Arrange short discussions with human resources managers to exchange ideas on how to better motivate your employees.
19. Learn more about position management and succession planning with HR or superior.
20. Set aside time at staff meetings for sharing technology tips among your team members.
Illustration:
Mike intends to increase his sales for the first quarter of 2004 versus previous year. One of the programs he prepared is a promotional activity among his Key Accounts. Mike prepared a Project Proposal specifying the financial objective of the promotion and the proposed budget. Mike evaluates thoroughly the details of the cost of promotion and vets it against expected results. Having known from consumer observation that the influx of customer and increase of sales occur every pay day weekend, Mike decides to operate his promotional selling during “pay day weekend”. To further ensure the viability of his promotional program, he negotiates for a lower rte on his booth rent among his supermarkets. With his thorough preparation, Mike achieves his cost to sale ratio standard and profitability targets for the project.
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