Roles & Skills
This role is responsible for overseeing the financial management of projects, identifying new business opportunities, and ensuring the company's activities are profitable and sustainable.
What is a Commercial Manager?
A decision that is high-level, long-term, and affects the entire organization's direction.
What is a Strategic Decision?
This term, defined by a quote from Larry Bossidy, is described as the ability to "mesh strategy with reality, align people with goals, and achieve the promised results."
What is Execution?
This is an analysis of the external environment, including political, economic, and social factors.
What is PESTEL Analysis?
This is what a customer can see, touch, and use, such as a smartphone's physical device, brand name, and design.
What is the Actual Product?
These types of skills, such as financial modeling and data analysis, are non-negotiable for a commercial manager.
What are Hard Skills?
It's a concrete statement that defines the company's purpose, its core business, its customers, and its values. Answers the question "What?"
What is the Mission Statement?
Fill in the blank: Mark Sanborn stated that "The ultimate objective of a business is _____________. The primary purpose of a business is to create customers. Profitability without customers is an impossibility."
What is Profit?
In a SWOT analysis, internal positive attributes that give a company an advantage are known as these.
What are Strengths?
This is the price at which the product is sold to customers in the market.
What is the Selling Price?
The ability to relate to, communicate with, and collaborate with colleagues, clients, and partners.
What are Soft Skills (Interpersonal Skills)?
For a physical item, its physical device, brand name, and design are all part of this level of a product.
What is the Actual Product?
This businessman said: "Get closer than ever to your customers. So close, in fact, that you tell them what they need well before they realize it themselves."
Who is Steve Jobs?
This framework evaluates a company's internal resources and capabilities based on whether they are Valuable, Rare, Inimitable, and Organized.
What is the VRIO Analysis?
The simplest way to calculate a price is with this formula: Selling Price = Unit Cost + (Unit Cost x Markup Percentage).
What is Cost-Plus Pricing?
A commercial manager must have expertise in contract law, risk assessment, and legal compliance, a skill described as this.
What is Contract and Legal Knowledge?
The PESTEL, Porter's Five Forces, and VRIO analyses are all used to gather information that directly feeds into this matrix.
What is the SWOT Matrix (Analysis)?
Fill in the blank: Nancy Pearsy said "_____________ is always a good thing. It forces us to do our best. A monopoly renders people complacent and satisfied with mediocrity.”
What is Competition?
In a SWOT analysis, external factors that a company can capitalize on are known as these.
What are Opportunities?
This element of the pricing formula is the percentage added to the unit cost to achieve the desired profit margin.
What is Markup Percentage?
The skill to identify and mitigate potential commercial risks that could affect business operations or profitability.
What is Risk Assessment?
This is the process of scanning, monitoring, and evaluating an organization's internal and external environments to identify opportunities and threats.
What is Environmental Analysis?
This USA Ex-President said: "In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.”
Who is Theodore Roosevelt?
A business's "scouting report" on its rivals that goes beyond just knowing who they are to understand their objectives and strategies.
What is a Competitive Analysis?
A product's ecosystem of available apps, technical support, and warranty serve as key differentiators in the market and are part of this product level.
What is the Augmented Product?