Business Acumen

  • Training Time: 1 Day, 9:00 am to 5:00 pm
  • Inclusion: Participants Manual and Certificate of Completion

Many people believe theey are born with business acumen, which is loosely defined as the ability to assess an external market and make effective decisions. Knowing what is necessary to navigate and create a successful business seems innate for certain people. For example, Steve Jobs showed great business acumen. Fortunately, it is possible for the rest of us to improve business acumen. This training combined with experience will improve your business savvy.

Learning Points
  • Know how to see the big picture
  • Develop a risk management strategy
  • Know how to practice financial literacy
  • Develop critical thinking
  • Practice management acumen
  • Find key financial levers
Course Outline

Business Acumen – Module 1
Getting Started

  • Introduction to Business Acumen
  • Workshop Objectives

Business Acumen – Module 2
Seeing the Big Picture

  • Short and Long Term Interactions
  • Recognize Growth Opportunities
  • Mindfulness of Decisions
  • Everything is Related

Business Acumen – Module 3
Key Performance Indicators

  • Decisiveness
  • Flexible
  • Strong Initiative
  • Intuitive

Business Acumen – Module 4
Risk Management Strategies

  • Continuous Assessment
  • Internal and External Factors
  • Making Adjustments and Corrections
  • Knowing When to Pull the Trigger or Plug

Business Acumen – Module 5

Recognizing Learning Events

  • Develop a Sense of Always Learning
  • Evaluate Past Decisions
  • Problems are Learning Opportunities
  • Recognize Your Blind Spots

Business Acumen – Module 6
You Need to Know These Answers & More

  • What Makes My Company Money?
  • What were Sales Last Year?
  • What is our Profit Margin?
  • What were our Costs?

Business Acumen – Module 7
Financial Literacy (I)

  • Assets
  • Financial Ratios
  • Liabilities
  • Equity

Business Acumen – Module 8
Financial Literacy (II)

  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
  • Read, Read, Read

Business Acumen – Module 9
Business Acumen in Management

  • Talent Management
  • Change Management
  • Asset Management
  • Organizational Management

Business Acumen – Module 10
Critical Thinking in Business

  • Ask the Right Questions
  • Organize the Data
  • Evaluate the Information
  • Make the Decision

Business Acumen – Module 11
Key Financial Levers

  • Investing in People
  • Effective Communication
  • Process Improvement
  • Goal Alignment

Business Acumen – Module 12
Wrapping it up

  • Words from the Wise
  • Lessons Learned
  • Completion of Action Plans / Evaluations

 

You Can Expect...
  • To gain a better understanding of finances
  • To be better equipped to participate in monitoring business
  • Gain intuitiveness to KPI’s
You Need This If...
  • You need to understand Risk Management
  • You need to understand Internal Risk Factors and Eternal Risk Factors
  • You need to be someone who constantly monitors and assesses
This Is About...
  • Getting a good grasp of Financial Terms
  • Understanding some Financial Strategies
  • Being better equipped to participate in profit projections