Business acumen is loosely defined as the ability to assess an external market and make effective decisions. Knowing what is necessary to navigate and create a successful business seems innate for certain people; Steve Jobs demonstrated great business acumen. Fortunately, it is possible for the rest of us to improve in this respect. The right training combined with experience will improve your business savvy.
Business acumen requires an understanding of finance, strategy, and decision making. Most managers and employees, however, are responsible for specific areas, and they have little understanding of the impact their decisions have on other areas. When too much focus is placed on one aspect of the business, it is difficult to make decisions for the good of the company. In order to make effective decisions, it is necessary for you to examine the big picture.
When looking at the big picture, it is necessary to consider long term, as well as, short term interactions. Short term interactions are immediate, single exchanges, and they are necessary for the company to survive. Without looking at the big picture, however, short term interactions may hinder long term success. For example, you may damage a business relationship by using aggressive sales techniques, costing you sales in the future
Through our Business Acumen course you will improve your judgment and decisiveness skills. Business Acumen is all about seeing the big picture and recognizing that all decisions no matter how small can have an effect on the bottom line. You will increase your financial literacy and improve your business sense.
This course will give you an advantage everyone wishes they had. The course will help you recognize learning events, manage risk better, and increase your critical thinking. Business Acumen has the ability to influence your whole organization, and provide that additional edge that will lead to success.
- Know how to see the big picture
- Develop a risk management strategy
- Know how to practice financial literacy
- Develop critical thinking
- Practice management acumen
- Find key financial levers