The participants going through the global pharmaceutical business simulation today listened to the ground rules that “this is a safe learning environment and there is no such thing as a bad question.”

“I am in R&D and I am having a hard time remembering some of these key business metrics like gross margin, operating margin, and which levers to pull to impact them.”

I shared a quick response and promised a nice blog for her team and the rest of the cohort developing their Business Acumen and Leadership skills this week.

For most business professionals, their primary business objectives are to generate as much profitable revenue as possible over a sustained long-term period of time. While most non-MBAs understand what revenue is, it is the “profitable revenue” that can sometimes be tricky and needs further defining.

Profitable revenue is defined as - revenue (the price of your product / service multiplied by the volume sold) that is generating a profit - where profit is equal to the revenues less the expenses incurred to generate those profits. I provide further clarity and examples below.

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As we settle into Q4 2020 and slowly realize that the “new normal” is actually the new normal, I was thinking about how many things have changed over the past 7 months. The disruption to the norms of business etiquette have been profound on many levels. I had an interesting discussion with a senior executive this morning about how amazing it is to observe the power of ingenuity and resilience when there simply are no alternatives.

While there have been many incredible innovations and new ideas brought forward, there have also been the emergence of new business etiquette behaviors that have got me wondering if they are cool or not cool. As a designer, developer, and deliverer of Business Acumen capability solutions I put together this list called, Business Acumen Etiquette (BAE) – Cool or Not Cool?

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Five key insights into the new talent development environment

When “non-travelers” would hear about my 250,000 miles of air travel a year they inevitably would say, “Oh, you are just like that George Cooney character in that movie.” Nobody ever remembered the title (Up in the Air), and although I look nothing like George Clooney, I always understood what they meant. It was really just “all about the miles.”

Fast forward to 2020 and everything has changed. Most of the core everyday business travelers, such as myself, who delivers award-winning corporate training engagements, haven’t been on an airplane since last March. However, the ability to travel to reach global audiences with powerful learning programs and tools like digital business simulations has never been better, easier, or more importantly… impactful and effective.

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One of the most requested topic areas for skills development that I have been working on during the last few weeks has been on the topic of Strategic Business Selling in the virtual world. Many of our client organizations have finally realized that things will never get “back to normal” and now they are scrambling to get “selling-in-the-virtual-world” training programs for their sales teams in place before it is too late.

Hopefully it’s not too late and I wanted to take a few moments to share some of our findings and skill training solutions.

There are literally millions of sales professionals in the United States and around the world who are giving up hope that they will be able to hit their targets and / or survive.

The good news is that selling in the virtual world can be better than the “old way” of taking a customer out to an expensive steak dinner. Virtual selling provides the opportunity to do things in a different way that is actually,

• More personalized
• More intimate
• More focused on customer needs
• More controllable in terms of delivering the right solution to the right customer
• More controllable in terms of managing the pipeline

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The pressure is increasing for companies to embrace and execute a sustainability strategy. For some, it will be nothing more than a few words on a website. They will just do it because others are doing it and a box needs to be checked. For others who take it seriously, it will be a disruption that changes the entire future of the business.

Society has created a global expectation that businesses are more than just making products, delivering services, and generating gobs of profit. The new reality is that there is an increased expectation that businesses should go beyond their operations and revenue generation and include environmental and social sustainability at levels equal to or above the levels of investments they are making in future product development.

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