Working with what you have: Business Acumen Series Pt. 1

Posted by Paradigm Learning on January 22, 2015

Working with What You Have

Are you an HR Leader always hearing this: “Do more with less.” Is it that easy? Business Acumen Training can help!

Effective business acumen training can help you train your workforce by covering a ton of competencies and skills.

What is business acumen? It is an in-depth understanding of how a business works, how it makes money, and how strategies and decisions impact financial, operational, and sales results.

In this blog, let’s look at how business acumen can help your employees think like an owner.

  • Business acumen helps your workforce understand how individual actions and decisions affect the company financial metrics. Without adequate business acumen, managers can’t align their priorities with those of the company or help employees engage with the company’s vision and goals. This narrow focus on their own departments and job functions prevents them from understanding how what they do rolls up into a financial statement or affects their customers.
  • Business acumen training helps individuals appreciate the tough decisions senior leaders are forced to make. Every day senior leaders are forced to make very tough decisions. Organizations are recognizing that business acumen training puts all of the organization’s other development efforts into the context of executing corporate strategy.
  • Business acumen helps individuals understand how their company makes money and what key financial terms and metrics mean. By understanding how the organization makes money, everyone in the workforce can make faster and better decisions while aligning around a common language. It allows everyone to increase their ownership.

This is just the beginning. Next week will look at how business acumen can help align your organization. Next time you hear, “Do more with less,” you will be able to smile, knowing that business acumen training is here to save the day!

For more on how business acumen can help your workforce think more like an owner, download your EGUIDE here!

Topics: Business Acumen