Business Acumen
Business Acumen is the ability to understand and apply business knowledge to make informed decisions and drive success.
Core Components
Financial Literacy
- Understanding financial statements
- Budgeting and forecasting
- Cost management
Strategic Thinking
- Market analysis
- Competitive positioning
- Long-term planning
Operational Efficiency
- Process optimization
- Resource allocation
- Performance metrics
Application
-
Decision Making
- Data-driven insights
- Risk assessment
- Strategic alignment
-
Leadership
- Team management
- Vision setting
- Change management
Best Practices
- Stay informed
- Seek mentorship
- Continuous learning
Related Resources
- Product Management - Applying business acumen in product roles
- Career Frameworks - Business skills in career progression
- Leadership Skills - Business leadership capabilities
- Professional Development - Developing business expertise
- Skills Development Hub - Building business competencies
- Career Map - Business acumen in career journey