Does your team understand business strategy? Do they know why costs are cut? Do they know your industry’s trends? Teaching business acumen provides all employees confidence and understanding in today’s business world.
The phrase “business acumen” may seem like an industry buzzword, but in fact it is an increasingly important part of communication and effectiveness in the business world. Financial Times Lexicon defines business acumen as “keenness and speed in understanding and deciding on a business situation”. Moreover, business acumen can help your company cut costs, reach a broader audience, and successfully integrate and streamline ideas for a more efficient business strategy.
Steve Jobs is a great example of a strong business acumen. A college dropout with no formal business education, Jobs’ ability to make snap decisions and understand the “language of business” made Apple into one of the most valuable companies in the world. It is […]