The Practical Business Engineer

 

THE WORKSHOP

Practical commercial and business skills, know-how and strategies for you, the Engineer and Technical Professional, to MAXIMISE your own potential and your company’s bottom line.

It is a truism that engineers tend to focus on technical issues to the detriment of the commercial realities that impact on their businesses on a daily basis. Engineers and other technical professionals put enormous effort into achieving their degrees and diplomas and believe that their technical skills are the most important factor in determining who will get the best jobs and who will manage the most prestigious and interesting and well paid jobs. But unfortunately the reality is considerably different.

What gives you enormous momentum in achieving success in industry is possessing sharp and broad commercial and management skills. Engineers and technical managers are generally bright, capable, hard working and highly trained individuals who can readily deal with the commercial issues in their organisation confronts once they have received the necessary training in the critical issues here as outlined on this workshop.

As a result finance and commercial courses are often the most frequently requested by technical professionals. Most technical people want to communicate more effectively with the commercial specialists in their companies and this workshop will give you the key points in understanding the language.

One of the key ingredients for success in any business and project is managing money and understanding that “cash is king” and your firm should be able to generate it effectively and consistently. Rapidly advancing technology, increasing project and product complexity and competitive pressures place enormous demands on you to do the best costing and economic evaluation of your products and projects. You must also be able to justify your costing decisions using a solid framework to ensure that you your financial decisions come under scrutiny.

This workshop is designed to help you build up strong competencies in business communications and promotion and marketing of your business and indeed of yourself, it will save you years of learning from experience.

Learning from your own experience whilst very important and a key part of your development can be frustrating, risky and expensive and this workshop will help to expedite your learning process in the commercial area.

You will emerge from this workshop confident in your new found commercial skills and be able to apply your knowledge the very next day back at work.

 

WHAT IS INCLUDED?

  • Receive a certificate of attendance in support of your continuing professional commitment
  • All workshops include the associated hardcopy technical manual
  • Printed workshop handouts
  • Lunch and refreshments
  • Interact and network with workshop attendees and experienced instructors
  • Practical, industry driven content to assist you in your continuing professional development (CPD)
  • Attendees automatically become IDC subscribers and receive exclusive deals and technical content every month

WHO SHOULD ATTEND?

If you are a technical person who feels somewhat uneasy about the commercial realities intruding in your business then you should seriously consider this workshop:

  • Administrators
  • Architects
  • Consulting engineers
  • Electrical, mechanical and civil engineers
  • Engineering officers
  • Engineers
  • Engineers and other technical professionals working in industry
  • Geologists
  • IT managers
  • Maintenance professionals
  • Metallurgists
  • Operations managers
  • Plant managers
  • Process and operational personnel
  • Production managers
  • Project managers
  • Technical specialists
  • Technicians

 

CONTENT SUMMARY

BASIC COMMERCIAL AND BUSINESS CONCEPTS

  • Overview of the course
  • Business communication skills
  • Questioning skills
  • Giving and receiving feedback
  • Presenting winning business presentations
  • Four typical team structures
  • Dealing with team problems
  • In pursuit of excellence - always
  • Effective habits of success in business

 

MAXIMISING YOUR PROFIT CONSISTENTLY - BASIC FINANCIAL CONCEPTS

  • Profit and loss
  • Balance sheets
  • Cash flow versus profit
  • Quick ratios and indicators
  • Cash is king
  • Creative accounting
  • Trends and patterns
  • Pricing of products and projects
  • Fixed price versus hourly rate
  • Business triangulation techniques
  • Maximising your company’s profits and income
  • Tracking costs and revenues

 

ESTIMATION AND COSTING

  • Capital costs
  • Working capital and operating costs
  • Factors affecting profitability
  • How to get the estimate right first time
  • Decision making under capital rationing
  • What to do if there is not enough money
  • Costing and estimating

 

APPLYING BUSINESS LAW TO ENGINEERING

  • Commercial law and engineers
  • Essentials of contract law
  • Key elements of a contract
  • Breach of contract and remedies – practically speaking
  • Duty of care
  • Professional liability
  • Avoiding conflict
  • The real value of business law
  • Using the law and minimising disputes

 

NEGOTIATING SKILLS FOR A WIN-WIN

  • Managing the 7 P’s of negotiation: people, positions, perceptions, problem, power, preparation and process Negotiating issues in business
  • Developing your negotiating qualities
  • The importance of a win-win

 

GAIN MORE BUSINESS - INDUSTRIAL MARKETING AND SELLING

  • Key elements of marketing and selling
  • Advertising/direct mail/web and email/telemarketing
  • Contact databases that work
  • Building relationships
  • Presenting proposals
  • Quoting, negotiating and closing deals
  • Researching and finding new business and clients
  • Practical elements of marketing
  • Lateral thinking

 

MANAGING COMMERCIAL RISK

  • Risk and uncertainty
  • Quantifying project risk
  • What is risk management
  • Tools of risk management
  • Risk and contingency amounts

 

BUSINESS STRATEGY

  • Adjusting your sails to maximise the wind
  • Business plans and action steps
  • Sailing close to the wind
  • Business ethics

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