Business Acumen is a range of skills that people use to make smart business decisions. With high business acumen skills, employees can analyze moderate and complex business issues from multiple perspectives and come up with integrated solutions. They are able to avoid piecemeal and narrow solutions. Our business acumen training program, based on real-life simulation, strengthens employee's knowledge and skills in five critical areas of business. Participants learn by solving real-life business issues in a simulated environment that is safe to apply the learnings before implementing them in the actual work conditions
Why Business Acumen?
Business Acumen gives a sound framework to employees to make smart decisions while they resolve business challenges they face.
Business Acumen helps in changing employee attitude from being a mere doer to one who is motivated to understand and execute instructions. And contribute to decision making when required.
Clarity on organization Strategy amongst employees motivates them to perform
Employees are motivated to execute decisions of the management as they understand the meaning behind such decisions. The understanding requires that employees know how organizations work and decisions are made
Business Acumen required is different for a different time horizon of decision making
The time horizon of the impact of decisions made at different levels is different in an organization. Usually, the time horizon considered for senior management is longer than that at the junior management level. Accordingly, the business acumen required for smart decision making at different levels of management is different.
What constitutes Business Acumen?
We have worked with organizations and adapted leading models to build the constituents of Business Acumen. For executives to address the opportunities and challenges, they need to be well versed in five IQs.
What is the importance of each IQ?
To run a business that is financially successful with satisfied customers and motivated employees, each of the five IQs is critical as they feed into each other.
In order to support and run businesses effectively, employees must be able to understand how their decisions affect the financial performance of the company. Financial IQ gives the base for financial perspective. It enables individuals and teams to relate their work to the larger business objectives.
Strategic & Growth IQ
Strategic & Growth IQ gives people the ability to link the current actions to the future goals targeted. A critical step of understanding the long term decisions by the senior executives is achieved with increased level of this IQ. At senior levels, executives get a deep understanding their position vis-a-vis customers and competition.
Acquiring and retaining customers is one of the toughest business challenges. Starting with a solid understanding of the products / services till their delivery employees are exposed to several challenges. Customer IQ should enable the employees to understand what their customers value and how their organization fulfills those values.
Smart employees make full utilization of the resources at their disposal to create the maximum impact. They also realize that upgrading their assets is a natural step towards efficiency and effectiveness.
Effective collaboration leads to best results in all areas from innovation to improvement. People IQ is about working with people within and outside the organization and effective collaborating to bring out the nest results.
Participants learn through conceptual understanding and practical applications.
Participants learn skills in the five critical business areas through concept understanding and practical applications.
Experienced facilitators impart the concepts in a class room discussion style. Application of the conceptual learnings is done through simulation of business situations.
A “Learning by Doing” approach is adopted in all the programs.
Participants will be able to understand their organization strategy at a high level by applying the learnings and will be able to understand how each one of them contributes to the overall success of the organization
Participants are exposed to the frequently used financial and non-financial aspects of a business. They learn about the areas required to be leveraged while doing their daily activities.