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Business Acumen Accelerates Strategy Execution

Business acumen, or an intuitive understanding of how a company makes money, is critical for effective strategy execution. A recent study found that two-thirds of executives believe a lack of business skills inhibits their company's ability to meet strategic priorities. Business acumen includes financial acumen, a market orientation, and a strategic perspective. It is mission critical for leaders and employees to have capabilities in these areas to ensure success. BTS provides business acumen training through workshops, online learning, and simulations to improve decision-making and performance.

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115 views2 pages

Business Acumen Accelerates Strategy Execution

Business acumen, or an intuitive understanding of how a company makes money, is critical for effective strategy execution. A recent study found that two-thirds of executives believe a lack of business skills inhibits their company's ability to meet strategic priorities. Business acumen includes financial acumen, a market orientation, and a strategic perspective. It is mission critical for leaders and employees to have capabilities in these areas to ensure success. BTS provides business acumen training through workshops, online learning, and simulations to improve decision-making and performance.

Uploaded by

Ashchris
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Strong Business Acumen Accelerates Strategy Execution

Business acumen, also referred to as commercial acumen, is critical to effective strategy


execution. In fact, a recent study from BTS and the Economist Intelligence Unit titled, Skills
Mismatch: Business Acumen and Strategy Execution, reports that two-thirds of corporate
executives believe a lack of business skills or business acumen inhibits their company from
meeting strategic priorities.

What is business acumen? Synonymous with business skills, business acumen is defined as
an intuitive and applicable understanding of how a company makes money. It includes a
thorough understanding of what drives profitability and cash flow, a market focused approach
to the business, and an overall big picture understanding of the business and its
interrelationships.

Business Acumen: The Critical Competencies


To consider business acumen more deeply, the skills and competencies that are most needed
are the following:

 Financial Acumen:
Includes a comprehensive understanding of what drives profitability and cash flow
 Market Orientation:
Involves a deep understanding of the external environment
 Strategic or “Helicopter” Perspective:
Demands an overall big picture understanding of the business, not just deep
expertise in an individual silo

It is mission critical that leaders and employees throughout the organization have the
appropriate capabilities in each of these areas to ensure success. It should also be noted that
business acumen is an extremely broad topic, also including mergers & acquisitions, global
mindset, innovation and more.

Improve Your Leaders’ Business Acumen


BTS provides managers with basic to advanced business literacy to promote better decision-
making and improved performance throughout the organization. BTS’s business acumen
programs blend consultant-led workshops, online learning and interactive business
simulations to create the optimal learning environment for all levels of your organization.
What is Business Acumen?Wikipedia Definition
Synonymous with business skills, business acumen is defined as an intuitive and applicable
understanding of how a company makes money and includes:

Strategic Perspective

An overall big picture understanding of the business; the critical interdependencies across
functions and divisions; the short- and long-term trade-offs of decisions.

OppenheimerFunds Drives Strategy at the Top »

Financial Acumen

A comprehensive understanding of the drivers of growth, profitability, and cash flow; a


firm’s financial statements; key performance measures; implications of decisions on value
creation.

Why Finance Matters »

Market Orientation

The ability to analyze and synthesize market and competitive data; a deep understanding of
the customer’s business objectives and purchasing criteria; an appreciation of the value of
each customer to the company.

Nike's Practice Improves Conversion »

Leadership & Collaboration

The ability to successfully execute strategy through others; create alignment, a positive
mindset and build capability in people; and collaborate effectively with others.

Intuit Transforms Talent Development »

BTS’s Business Acumen training programs blend consultant-led workshops, online learning
and interactive business simulations to create the optimal learning environment for
individuals and organizations. Understanding business acumen and how it guides execution
will create a stronger workforce and positive business results.

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