Business Acumen What Is

Business acumen in practice.

Business acumen what is. In 2002 after ten years as an executive with franklincovey consulting with and teaching for dozens of organizational clients i founded my own training and consulting firm. The deeper you can go into understanding the business factors that affect your company s ability to generate revenue the more it helps with all areas of developing your business acumen such as. Additionally business acumen has emerged as a vehicle for improving financial performance and leadership development.

An understanding how companies make money. What is business acumen. As defined by wikipedia is keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome to break it down the business comprises two components business literacy the knowledge and understanding of various functions within the organization and acumen the ability to make.

The term business acumen comes up in almost all kinds of professional and corporate interviews irrespective of the job position or the opening. Ranging from learning business intelligence in higher educational facilities to a natural occurring business savvy to the understanding of how to successfully inspire all aspects within an organisation to the strategic execution of collaboration to reach a common. Whether if it is for an opening position or a high profile position having strong business acumen about the company is very beneficial and necessary for the recruiter to choose the right candidate for the job position.

Business acumen is dealing with a business situation spontaneously in a way that leads to a favorable consequence. If we have a glance at the economic situation of our country now good leaders managers and entrepreneurs are the basic requirements of today s organization who can formulate and at the same time execute effective. 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.

Google business acumen and numerous sources from reputable researchers across the globe provide a variety of definitions. What is business acumen. One of the hottest areas in leadership development these days is the topic of business acumen unfortunately for talent development professionals and business leaders there are many definitions for business acumen ranging from the most basic training someone how to come to work on time to the more complex training.

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.