At its core, business acumen is about understanding how your company or your customers make money. Business acumen is also about understanding what information is used by your accounts when making critical decisions.
A suggested framework for applying business acumen is as follows:
- Gather relevant organizational and marketplace data to understand the current situation
- Ask questions to better understand the challenges and pain points the organization is facing and why these are surfacing now
- Generate key insights from all the data that you can action
When you process turning insights into action, you begin “connecting the dots” and gain an understanding of the complex marketplace.
Need help with developing your team’s business acumen skills? Feel free to reach out and learn what WLH can do for you!
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