Business Acumen For Employees

Make business acumen one of your core competencies.

Business acumen for employees. After all your employees make decisions and take actions daily that can impact your company s operations reputation and profitability. Business acumen for employees. Additionally business acumen has emerged as a vehicle for improving financial performance and leadership development.

Why is business acumen important. In this guide we ll explore business acumen and the benefits of developing it. Every business needs leaders at all levels who are able to hold the different strings together and make decisions for the benefit of the whole organisation.

These people are often referred as having strong business acumen. Business acumen business savvy and business sense are often used as synonyms is keenness and quickness in understanding and dealing with a business situation risks and opportunities in a manner that is likely to lead to a good outcome. Surprisingly enough however research shows that over 80 of employees do not have the basic literacy of their business let alone strong business acumen.

In fact job descriptions are increasing including business acumen as a key competency for most roles within the organization. But what is business acumen about and how can you develop it. Most companies have a specific set of core competencies they want employees to focus on developing.

This is not treated as true for the people who are considered to be frontline employees for the organization. Having a sound business acumen about the organization will enable the employee to get to know the company values and core principles better and also strengthen the company by getting to know about the company rivals stakeholders and the current trends in the industry that is challenging the company. We have to make clear that business acumen is not a single skill but a wide complex of competencies knowledge and awareness of multiple aspects of a business.

Business acumen also known as a business savvy and business sense is an ability that allows you to understand and cope with different business situations. For employees strong business acumen can help them see their place inside the organization and better align with its objectives. If business acumen isn t one of your company s core competencies already make it one of your personal core competencies and then become a champion for adding it to your company s list.