Join Dave Crenshaw for an in-depth discussion in this video Understanding the role of money, part of Thinking Like a Leader (2013).
Many people view money from an emotional perspective, thinking about the things…that money can buy, or its ability to provide for their family.…In a business context, we want to remove emotion from the discussion and use…money as a score to measure how well the business is doing.…No matter what position you hold in your company, you can become savvy about money.…This doesn't mean becoming an accountant.…It's about understanding the basics of money in order to measure your company's success.…
There are three basics to study: profit, cash flow, and budget. Let's start with profit.…In its simplest terms, profit means that income is greater than expenses.…If the business brings in more money than it spends, the business is profitable.…And if expenses are higher than income, it has a loss.…There are a couple of ways you can begin helping your company to become more profitable.…The first is learning about which products and services your company provides…that are the most profitable?…Which make the most money per unit sold?…
Discover how you can identify trends, gather and address customer feedback, and proactively deliver what your company needs for competitive advantage.
This course is one of a series of five Dave Crenshaw courses based on his Invaluable teaching methodology for professional development.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
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- Understanding what makes your company money
- Discovering market trends
- Understanding your competition
- Knowing your customers and how to better serve them
Skill Level Appropriate for all
Q: This course was updated on 01/03/2012. What changed?
A: This course was retitled, streamlined, and refined throughout, resulting in a slightly shorter runtime. We also added new graphics and a new welcome movie.