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Business acumen, also known as business savviness, business sense and business understanding, is a combination of knowledge, skills, and experience that enables individuals to understand business situations, make sound decisions, and drive successful outcomes for an organization.[citation needed] It is also defined as "keenness and quickness in understanding and dealing with a business situation (risks and opportunities) in a manner that is likely to lead to a good outcome."[1] It involves having a "big picture" view of the business, financial literacy, strategic thinking, problem-solving, and effective communication.[citation needed]
Additionally, business acumen is viewed as having emerged as a vehicle for improving financial performance and leadership development.[2] Consequently, several types of strategies have developed around improving business acumen.
^Reilly, Dr. Raymond R and Reilly, Dr. Gregory P. "Building Business Acumen", HR West, December 2009.
^Summerfield, Brian. "A Crisis in Leadership" Archived June 23, 2009, at the Wayback Machine, Chief Learning Officer Magazine, April 2008.
Businessacumen, also known as business savviness, business sense and business understanding, is a combination of knowledge, skills, and experience that...
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