How to Use Your Business Acumen Skills in the Workplace?
So, once you have the foundational business acumen skills how do you then translate that into the workplace and your day-to-day responsibilities?
Oh, let us count the ways!!
If you've studied business acumen at all, you already know that enormous impact that it can have on your company and career. But, how and where can you begin implementing and showing off your new skills?
One way is that whenever you get messages from your executive team regarding the company — its performance, the direction — put in the work to translate that into your day-to-day responsibilities. This will allow you to put your work and priorities into the context of your leaders, assuring that you’re framing it into the strategy, language, and metrics that are most important to the company. This will elevate your credibility and impact of your ideas. It also gives you a better chance that those ideas will be embraced and funded by the organization.
So, applying these business acumen concepts to your business case is vital to elevate your credibility and the impact of those business ideas. It’s also not just important to understand your company, industry, and priorities, but to also see them through the lens of the broader industry. Business acumen helps with that!
How are your customers thinking of how to take their organization to the future and succeed?
What are your competitors doing to respond to different things that are happening in the marketplace?
And what can you do in your role to better assist the organization to pivot to maintain its own relevance and success in the marketplace?
Companies have an investors relations website that is a fantastic resource! It includes the latest analyst calls (if you need help translating these, check out our free Earnings Call Labs), the latest annual report, the latest press releases that the company has issued. This is an awesome place to build your business acumen knowledge, as well as allow you to use it!
If you go to your investor relations website and just read the headline, you’ll have a great idea of the company’s strategy, its direction, performance, financial trends — and if you can read those through the lens of the business acumen fundamentals, and just get a sense around where the company is moving, then that allows you to put in context what you do every day as a part of the change engine the company needs to help you participate in the future of the company and its success.
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