How would your business change if every member of your organization acted like a business owner?
Only 16% of people on executive position state that they feel confident understanding financial indicators and concepts.
Everyday business executives make tough decisions about product development, prices, research and development, HR and administration policies. All those decisions require that managers are aware of the impact those have on the company balance’s sheet. This is why good business acumen might be critical for your company’s success and might be the difference between you and the competition.
Business acumen can help you:
- Translate information to insight
- Understand the impact of your decision on profitability, cash flow and growth.
- See the “big picture” and how different parts of the organization connect and align to create value
- Understand warning signs before it is too late and react better to changes
- Create awareness and common language
- Create a culture focused on agility and constant improvement