It’s quite interesting to work with Business Acumen training. You soon realize that the level of fairly common and basic business acumen competence is very low even at management level. When you start to dig into the different statements and or ask people to explain what Revenues, Costs and Assets really are it reveals some disturbing facts.
Now if you are to execute a new strategy or launch an new work method in order to improve profitability – is it not wise to understand what profitability actually is.
Business acumen skills supports individual understanding of the need for constant change and whatever fancy new management idea that is presented.
Business is to a large degree to do with “Common Sense” but of course that common sense can go from simple to quite delicate and difficult. This is an issue that should be appreciated by each employee. It will save time and increase a drive towards efficiency and focus in a sustainable way.
Not having a good Business Acumen understanding means that you will lose a lot of time and effort. Make it a corporate issue to get everyone involved by making them aware. Sustainable engagement will depend on this.