Business Acumen and Strategic Thinking for Managers
The benefits of Business Acumen for your Managers
As Forbes wrote in 2019; “Strategic thinking is the type of mindset required to analyze the present and shape the future, not just for you, but for the organization you represent.”
Seeing the Big Picture of your Organization:
Some individuals think that because they aren’t an executive or the CEO, the part they play has less of an impact on the business. This is the wrong way to think about it. Of course, the CEO gets the end all say all, but she can’t get there without the help of the employees that she’s hired. Thinking strategically teaches every employee to think like an executive. It allows everybody to acknowledge and anticipate for the problems that may array, and then engage to find a solution. Learn how to See the Big Picture of your organization.
Read the first chapter of the bestselling book: Seeing the Big Picture by Kevin Cope:
How to be a Strategic Thinker:
Being a strategic thinker will allow you to gain insight into problems and find solutions for them. It’s achieving goals in the way that best suits the business. If you’re not a leader who exudes strategic thinking methods, you’ll struggle to survive in the business world. There are millions of unknowns that can emerge in a business and without the methods that strategic thinking, you’ll struggle to anticipate those problems.
A Strategic Thinking Leader:
Jeff Weiner is the CEO of LinkedIn and has a strategic leadership style. He encourages an open management style and motivates his employees to exude creativity and new ideas. Weiner has always been an advocate for innovation while never allowing for the quality and morale of his company to suffer.
Use Business Acumen to Thrive as a Company:
Harvard Business Review wrote that “leaders across all levels must adjust their mindsets and behaviors to move their companies in the direction of the desired changes. Unfortunately, some corporations get so entangled in sales and making profits that they neglect their workforce.”
To be a thriving company, embedding these strategic skills into your employees is vital. Leaders are created when everybody is anticipating changes and proposing solutions. When you learn the levers that need to be pulled in a time of change, you can quickly pivot to avoid concern. Strategic thinking keeps you ahead.
Business Acumen Skills for Managers and Leaders:
Managers are always communicating and interacting with senior leaders who have business acumen. They have a language that they use to talk about the strategy and financial performance of the company and they've got to be able to speak that language. But they also are interacting down to their teams who are running more of the tactical functional kind of realities of the team. And they've got to be able to translate where the executives are wanting the business going, down to the practical tactical level. So as a manager to have the fluency up, down and across is vital, to be able to be effective as a leader, to try to drive the business forward. To finish reading the article:
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