Business Acumen Skills & Competency: The Guide to Improving Them I am sure, even if you do not know what is the exact definition of business acumen, you already want to know how to develop strong business acumen skills and competency . Business acumen is the ability to make important decisions and possess the skills required to impress in your current role and achieve career success. By Robert Brodo | Oct 12, 2015 3:26:34 PM | Business Acumen In today’s complex global business environment, organizations can survive or fail, and individual's careers can stall or excel, based on the level and proficiency of business acumen skills within their company. Business acumen, including financial acumen, is critical to effective strategy execution and often a struggle for most corporations.

Image Credit: Coffee by Stevepb (Pixabay.com) I have been interviewing executives at Fortune 500 firms for an upcoming project and discovered a theme in their comments. A great business acumen simulation design will enable participants to learn about strategy, finance, marketing, and operations by running a case study that comes to life. Business acumen refers to a keen and agile ability to understand, interpret and deal with business situations. Ways To Develop Your Business Acumen Skills: Read Business Books, Magazines, Websites, Blogs…. Dynamic business leaders also tend to break at some point if they lack business sense and therefore, business acumen is extremely important for leadership competency.. Business acumen is an accumulation of various competencies that work together to form business knowledge. Business Acumen and Commercial Skills.

Developing strong business acumen skills won’t happen overnight.

In a competitive market organisations which foster these skills will have a competitive advantage. 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. It’s about not giving up! But whether you’re trying to move ahead in your career or build a top-notch L&D team, if you’re committed to developing your business acumen, these steps will take you in the right direction. A person with good business acumen will: A person with good business acumen will: Be able to obtain essential information. It explores the context of the relationship and the strategies and behaviours that underpin facilitating better business outcomes. It’s designed to provide a team-oriented capability building experience that will boost business expertise, build both hard and soft skills, and create strategically-minded business people. Developing business acumen takes time and learning should be part of your daily routine.

If your goal is to go way up the career ladder and lead, you need to have interpersonal skills and also be business savvy.

Here are examples of these skills. Business acumen, however, is not one skill but a set of skills that, working together, help to make a leader like Jobs and his business prosperous. More Details >> Pricing and Purchase >> This workshop aims to develop participants existing capability in planning and executing commercial arrangements. How To Develop Business Acumen 10 Comments Share Tweet Print Email. Here are examples of these skills. Numeracy skills Attention to detail skills Technical skills Perseverance More than anything, business acumen needs to be constantly maintained and developed. A simulation can help participants understand the system of business and develop the tools and skills they need to make the best business decisions they can take back on the job. The term business acumen comes up in almost all kinds of professional and corporate interviews irrespective of the job position or the opening.. Business Acumen Skill We work with clients to develop the business acumen skill and commercial awareness of their staff throughout their organisation. It will take hard work and dedication.