Learn what business acumen is and how to build business acumen in order to be recognized and valued in an organization.
Robert Brondo states, Over the past few years, the need for business acumen skills as a standalone competency has become a critical focus of most CEOs. Yet, some studies show that 90% of professionals don't understand the key components that are important to CEOs and the overall success of the company. This topic will explain what business acumen is, why it is important for employees at all levels, and some things one can do to build business acumen in order to be recognized, valued, and respected within an organization, while also being instrumental in that organization's success.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
How Do You Define Business Acumen?
- Ability to Make Effective Business Decisions Very, Very Quickly (Cheeky Scientist, Isaiah Hankel)
- Need to Recognize and Be Able to Create a Larger Picture in Order to Apply That to Solve Problems to Move the Business Forward
- Components Include Speed, Wisdom, Business Strategy/Success
Why Is Business Acumen Important?
- Employees Without Business Acumen Can Slow Down the Process for Fear of Making the Wrong Choice (or Make Uninformed Decisions)
- Every Employee Should Have the Ability to Think Like a Boss or Owner to Create a Successful Business for All
- In Order to Get Promoted Into Middle Management, and Definitely Upper Management, Need to Have Business Acumen
- Having Business Acumen Shows You Can Be Trusted and Creates a More Connected Organization
- By Demonstrating an Interest in the Business and Having Business Acumen, It Shows You Respect Your Teammates Which in Turn Gains You Respect
What Are the Core Elements of Business Acumen?
- Ability to Deal With and Understand Complexity and Uncertainty
- Transferable Skills Such as Product Knowledge, Market Awareness, and Familiarity With Trends
- Financial Literacy, Organizational Knowledge, Understanding of Customers
- Ability to Leverage Business Knowledge
- Comfortability With Ambiguity and Self-Awareness
- Capacity to Link Cause and Effect
How Can One Develop or Enhance Business Acumen?
- Improve Analytical Abilities
- Enhance Logical Thinking (Figure out the so What?)
- Remain Disciplined
- Attend Business School, Coursera, or LinkedIn® Learning
- Read Harvard Business Review
- Obtain a Mentor
- Participate in Business Simulations
- Join Chat Rooms
- Obtain Temporary Work Assignments/Projects
- Ask Questions and Request Feedback
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 5, 2023.
Call 1-866-352-9540 for further credit information.
- ASAP PACE 0.1
- This course is pre-approved through the American Society of Administrative Professionals (ASAP) for 0.1 CEU(s) towards your PACE Recertification.
- IAAP 1.0
- All education that aligns with the CAP Body of Knowledge can be used toward recertification. Lorman Education Services believes this course does align and should be counted toward recertification. Please visit IAAP's certification webpage to review recertification details and requirements. https://www.iaap-hq.org/page/CAP_Recertification. Course Length: 1.0.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Patricia Simpson
Game Changing Etiquette
- Owner/consultant at Game Changing Etiquette
- Has worked in higher education for over 25 years; currently the Director of Academic Advising and Career Services for the School of Chemical Sciences at the University of Illinois at Urbana-Champaign
- Has presented etiquette dinners and workshops to corporations, universities, and civic groups for over 15 years, including Dow, Shoals Chamber of Commerce, First Metro Bank, Alabama JLDC, Dominican University, and the University of California Riverside
- Delivered and moderated webinars for groups of 1000+ for the American Chemical Society as well as a number of other professional organizations, multi-show guest on In the Know with the Shoals and WCIA’s Current
- Certified etiquette consultant through The Etiquette Institute©
- Golden Shamrock Award, University of Illinois at Urbana-Champaign; Outstanding Service Award, University of North Alabama; Rotary International Group Studies Exchange; Outstanding Placement Professional of the Year, Alabama Association of Colleges and Employers
- M.Ed. degree, Azusa Pacific University; B.A. degree, Concordia College
- Can be contacted at [email protected], 217-722-0286, or www.gamechangingetiquette.com
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