Acquiring Vital Competencies and Soft Skills for the Labour Market – Commercially Driven (Series 1)
Commercially driven is about applying a business and customer-focused approach, and demonstrating the commitment to deliver results that create value for organizations.
As professionals, we have a responsibility to ensure we focus on the things that create the most value for people and business. This means identifying and delivering on the people issues, opportunities, and risks that will have the most impact on the performance and success of organizations. It also means partnering with customers, understanding the financial implications of work, proving the business case for change, and taking responsibility to deliver it.
We also have a personal responsibility for our own self-care, to help us stay motivated and resilient in the delivery of our work.
EIGHT HABITS OF A COMMERCIALLY DRIVEN PERSON
- They set aside time each day for strategy.
- They view the team as their vehicle towards success and empower them sufficiently.
- They keep abreast of the Industry. High-functioning commercial staff can predict trends before they happen.
- They know the sales and marketing landscape and get involved.
- They are always building marketing networks.
- They are extremely aware of the business goals and how they change.
- They admit their fault and take responsibility to find solutions.
- They are knowledgeable of technology and take advantage of technology.
COMMERCIALLY DRIVEN STRATEGIES THAT HELP PAVE THE WAY FOR SUCCESS IN YOUR CAREER.
- Market Analysis
The first step is to look at the market environment. The collection, analysis, and interpretation of big data and market research-based data help to evaluate and identify potential opportunities and market offering gaps or niches.
- Sales Planning
After the environmental analysis and evaluation, ideally, we have identified the right customers and the right market for our company. And now it is time to plan how to sell our products and services in accordance with the information that we already have.
- Operational Strategy
The third step is fully based on the previous two, and cannot exist only by itself. It will not make sense to create an operational strategy if we don’t know the market, the consumers, and the estimated sales amounts.
- Procurement Planning
This plan is crucial for cost-optimization and the smooth flow of supply chain activities. This is the stage when the organization has to research its potential partners, identify risky alliances, and recognize sustainable business associates.
- Business Planning
The essence of business planning is to integrate the market analysis, sales planning, operations strategy, and procurement plan in one effective organism, working towards growth and business development
- Laws and Regulations
Doing business without complying with the legal rules is considered to be a crime. That is why every commercial strategy needs to be aligned with the specific regulations that apply to any particular market and business.
NOTE: To be commercially driven you must be a learner and you must be ready to go the extra mile in search of knowledge and ideas. This will guide you in drafting business plans that will enable private and company businesses to grow and succeed in the labour market.
Being commercially driven would give any candidate an upper hand in the labour market anytime, any day. Companies are on the lookout for employees that understand market trends and can improve their profit margins.
Written By. Mr. Ishaku Nenfort
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