Business Sense – Leadership Development Focus

Business acumen is the ability and keenness in dealing with and understanding a “business context” in a likely to result in a favorable outcome. This includes both short-term and long-term goals and means for acquiring them. In addition, business acumen has increasingly become a vehicle for enhancing leadership development and personal financial performance.

Business Acumen is a learned skill that can be developed through the proper application of concepts such as “problem solving”, “win-win” and “learning as you go”. It is also important to understand that business acumen must be practiced on a regular basis at all levels of an organization, not just at the higher level of management. The ability to identify customers’ needs and concerns, and providing an appropriate answer are one of the most basic requirements for a successful manager. At the same time, it is equally important to recognize that business acumen cannot be formulated or perfected in a day. It takes considerable effort over the course of a year to build and fine tune all of the various skills necessary to be a truly effective manager.

Business Acumen requires not only an individual’s leadership skills but also effective communication skills and interpersonal skills. Furthermore, business acumen is directly linked to knowledge, and especially to the value of information. The value of information can be understood in its most basic form and refers to the capacity to make reliable, useful and accurate judgments about important matters relating to one’s personal career. In the end, people who possess excellent business sense are able to think creatively and perceive opportunities that others may not see. All of these things lead to an overall higher quality of life that everyone can benefit from and improve their own prospects by taking advantage of relevant leadership development resources.