Introduction

Companies in all business sectors are faced with tough decisions about processes, people, product development, asset management, capital investment and much more. Every day the actions and decisions of your managers and employees impact business success.
Can you imagine an organization — in any industry — where the leadership and management teams don’t know the business through and through? It sounds unlikely, but according to a new survey by the Institute for Corporate Productivity (i4cp), it’s more common than you think. In a poll of nearly 400 nationwide respondents, i4cp found four out of five people think there is a moderate to very high level of deficiency in business acumen within their organizations.
Business acumen is an understanding of what it takes for a company to make money. It involves financial literacy, which is an ability to interpret the numbers on financial statements, as well as an understanding of the business strategies that impact these numbers. Higher level of involvement, ability to think strategically and the capability to position your company’s products and services within your customers’ business context are just a few of the positive outcomes of business acumen.
Consider this example: In football, it’s necessary for players to know how the game is scored as well as how to play the game to change the score. In business, financial literacy understands the “score.” Business acumen knows how to impact the score. With increased business acumen, your people know how to use their financial and strategic understanding to impact your company’s bottom line.

Learning Outcome

• To define business Acumen of and list the building blocks the business acumen.
• How business makes money and what factors impact money making process
  such revenue, cost, profit, cash and assets.
• The process of Business Acumen and what are the building blocks of
  business acumen and the roadmap to achieving it

Course duration:

16 Learning hours