It becomes more and more important that not only certain employees but everyone involved in the business truly appreciate what business is about. Learning how to read annual reports and understanding key ratios or simply the language of business cannot be overrated. This does not mean that you have to be an accountant and it does not mean that it is enough to understand the plus and the minuses but you also have to grasp the way Revenues, Costs and Assets interact from both the What and the How aspect.
It’s very frustrating to meet managers, even at high levels, not understanding the implications of key ratios that dictate what drivers to focus on whether you are talking about company profitability or bonus systems.
We are currently planning a couple of HR Business Partner seminars and you bet Business Acumen is at the core of the training. Not forgetting people of course but emphasis is on getting the business picture.