Being a Student of your Business “Business Acumen”
When I was a youngster, fresh out of college, I started my first job as customer’s service for a big B2C training organization. My job was to answer our client’s questions about courses of course, the end result was to help the sales desk sell more courses. After 6 months I turning to the accounts department for one year then finally to corporate training department during this past period I have confused why my manger moved my form job to another one finally I found answer when I became a manger to corporate training department the key is “Became a Student of your Business ” Kevin Cope. Being a student of the business is a best practice that I still follow to this day. One should never stop learning. As advertising people say that the advantage of big advertising has a great impact when viewers see it on the small advertise another way it mean when you see the all picture you can take right actions right decisions.
Business acumen play a role in so many rags-to-riches stories through shrewdness, vision and business savvy, generations of leaders, pioneers overcame daunting obstacles to create tremendous wealth and value.
So we will talk about:
Business acumen men.
Business acumen skills & competencies.
Why is it so important?
How to make business acumen as part of the culture of the Organization ?
Business Acumen mean?
Some people called “Business Savvy or Business Sense” business acumen is an ability that allows you to understand and cope with different business situations. By another easy way understanding of how your company makes money.
Note:
business acumen not a single skill it’s a wide complex of competences, knowledge and awareness of multiples elements of your business.
Business acumen skills & Competencies.
Financial Acumen
It’s important to every leader, manager and employee to understanding financial issues like financial statement, cash flow statement, financial reports, budgeting statement, key performance measures and how their decisions will impact value creation.
Marketing Orientation
It’s important to understand your external business environment or what we call market orientation like customers needs, customers purchasing behaviors, how you can analyze marketing competitive data, new technology and impound marketing skills.
Strategic perspective
Leaders must understand the business and help the team to understand it. Understanding critical inter-dependencies across functions and divisions and Short and long term of business decisions.
Why is it so important?
People with business acumen can be more efficient in their work, as they notice the connections within the workplace and the way different contributions affect the different elements.
People with business acumen can able to understand the different trade-offs of actions, which can help make better and more logical decisions.
Business acumen can help provide a more coordinated and logical responses to problems and threats the business might have. Because it teaches quick thinking, you aren’t panicked in the face of difficulties.
How to make business acumen as part of the culture of the Organization ?
what is easier to learn about something new via reading, lecture and case studies but that's not professional because professionalism comes by practice and follow up. Implementing of business acumen without practicing it does not give employees the confidence to do it will furthermore it can cost organization a high costs by erroneous implementation for business acumen concepts.
The best way to bring business acumen to life is through experiential , in particular and customized business simulations.this learning platform will create high realistic, engaging experiences that lead to both to behavior change and effective back on the job implementations.
about the Author:
Islam Helmy, 13 years Hr training & Development Manager Arab Academy for science, technology and maritime transport and CoFounder @Trainingbakers.
