Individuals with business acumen are those with "business smarts". They are able to get a job done by asking the right questions, focusing on key objectives, recognizing the options out there, and outlining a course of action.
There are four things to consider when developing business acumen:
1. Look at the bigger picture, but also understand the decision's impact on the different departments.
2. Understand how to work with the different departments efficiently. This means speaking their language and understanding how their thought process works.
3. Be a better listener because to truly understand the underlying processes behind the different departments (learn who makes the decisions and how long requests take).
4. Build professional relationships. Building trust with the other departments will be beneficial when decisions need to be made.
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KNOLSKAPE offers a ‘Building Business Acumen’ program, which provides participants an intuitive appreciation and understanding of how their company makes money. It includes a thorough understanding of the drivers of profitability and cash flow, a market-focused approach to the business, and an overall big picture understanding of the business model of the organization.
The two-day long program allows the participants to experience business decision-making through the use of cutting-edge software simulations and tools, such as ‘Build Your Business’ simulation, Strategy Software Toolkit and the Business Model Canvas.
The participants will solve a case study reflecting the realities of their industry using the toolkit offered on our AktivCase platform. They will also be analysing their own organization and apply the business acumen acquired through the program.
The program could be delivered in a classroom or on-line using WebEx.
KNOLSKAPE’s award-winning simulations uses experiential learning and gamification to attract, grow and retain talent. Global Fortune 500 companies and Top-10 B-schools use KNOLSKAPE’s products and solutions for on-boarding, training, assessments, and talent engagement strategies.
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Published by: Hardik Chitroda in Blog