Your sales team is motivated, your product is strong, and the leads are warm. But the deals aren’t closing, and your customers say they “don’t feel understood.” That gap? It’s not about effort. It’s about language . When You Don’t Speak Their Language, You Miss the Deal Today’s buyers are more informed than ever. They expect conversations that go beyond features and functions. They want partners who understand their business , their challenges , and their goals . Unfortunately, many sales reps default to product pitches. They know their offering inside out—but not the strategic context their customers operate in. The result?  A disconnect between what’s being sold and what the customer truly needs. The Fix: Build Business Acumen Business Acumen ( What is business acumen? ) isn’t just a buzzword—it’s the skill that helps your team translate product value into business outcomes . It’s the foundation of sales conversations that resonate. With the right training, your team can learn to: Understand industry dynamics  and emerging trends Identify and speak to key financial drivers Align your offering with the customer’s strategic objectives What Business Acumen Training Delivers 1. Better Communication Reps learn to frame conversations in terms of revenue, costs, risk, and growth—speaking to what customers actually care about. 2. Real Industry Insight Training helps reps grasp market forces and use that knowledge to build relevant, timely value propositions. 3. Stronger Relationships When your team shows they "get it," trust builds faster. And trust turns into loyalty. From Product Pitchers to Strategic Partners The best salespeople aren’t just closers. They’re consultants , connectors , and advisors . Business Acumen training helps your team: Build credibility in every conversation Ask smarter questions that uncover real needs Position your solution as the answer to business problems The Bottom Line If you want to move from missed opportunities to meaningful wins, the path is clear: Train your team to speak the language of business. When your sales force understands the customer’s world, they don’t just sell more—they partner better . Ready to See the Impact for Yourself? Give your team the tools to turn insight into sales. Our Building Business Acumen training  has helped thousands of professionals boost performance, drive profitability, and build stronger client partnerships. 👉 Contact us today  for a free consultation and see how Acumen Learning can help your sales team close the gap. Empower your sales team. Unlock your growth. Speak your customer’s language. ✅ Subscribe to our YouTube Channel  for more Business Acumen videos! ✅ Follow us on LinkedIn @AcumenLearning  to keep up with all company updates! ✅ For more on our business acumen training visit our  website ! #businessacumen   #businessstrategy   #learninganddevelopment   #leadershipdevelopment   #financialstrategy   #financialacumen   #sales   #salessuccess   #businesssuccess   #salestips

Press Release OREM, Utah – July 1, 2024 Download the Business Acumen Press Release: News Facts: A top-performing North American port serves as a critical hub for international trade. In an industry that demands adept handling of emergencies and market fluctuations, this company sought business acumen training for its leaders to improve decision-making. This port wanted to enhance the business and financial acumen of its 150 managers. Our customized training focused on understanding business metrics, articulating strategy, and navigating challenges like inflation and supply chain bottlenecks. This comprehensive approach equips all managerial staff to make informed decisions, driving profitability and resilience within the organization. This industry must be resilient, responding with a business mindset to emergencies. With a disaster near their port earlier this year, this company had to manage significant swings in volume. Our training provided managers with the knowledge of the financial ramifications of the emergency, ensuring they make the best decisions moving forward and remain prepared for market and environmental challenges. The impact of our training has been significant. Managers now possess a heightened awareness of the financial implications of their decisions, allowing them to approach their roles with a business-oriented mindset and contribute to the port’s strategic goals and operational efficiency. Acumen Learning is proud to play a pivotal role in this transformative journey. As a result of this partnership, the government-managed company is looking to put their sales organization through our customized business acumen training. Supporting Quotes: “It was helpful in getting a deeper understanding of how our financials tie together. Great examples outside of the industry and discussion of how they relate to our business.” “Very insightful and informative on how to read our company’s P&L and how to better educate our peers on how to understand what they are looking at.” “Excellent course material and presentation. Instructor was very knowledgeable and enthusiastic.” “Very informative and engaging. The trainer was knowledgeable and able to explain corporate finance fundamentals in simple terms.” “This industry is so dynamic and unique in that these leaders have to be ready to move and pivot at any moment. This company does this beautifully. It’s inspiring to witness how enhanced business acumen empowers these leaders to navigate challenges and drive success in their roles.” About Acumen Learning Founded in 2002, Acumen Learning's highly customized business acumen and sales training programs have helped organizations develop employees who are more engaged, efficient, and effective in their work. To further support its mission, Acumen Learning published, Seeing the Big Picture – Business Acumen to Build Your Credibility, Career, and Company , in 2012 which quickly became a #1 Wall Street Journal and a New York Times bestseller. More than 20  years later, Acumen Learning has been trusted by more than 200 organizations on six continents to help employees understand how their company makes money, and to take real steps towards improving that process.

Welcome to this insightful Q&A session with Monty Magleby, one of our senior financial consultants. Today, we're discussing how human resources can benefit from business acumen and how to implement it into your role for success. Let's get started! Question: What is strategic alignment and why is it important for an organization? Strategic alignment refers to the process of ensuring that all aspects of an organization, including its goals, strategies, and actions, are coordinated and working towards the same objectives. It is crucial because it ensures that everyone in the organization understands their role and how it contributes to the company's overall success. When employees are aligned with the company's strategy, it leads to higher engagement, more efficient use of resources, and better decision-making, ultimately driving the organization toward its goals.   Question: How can a lack of strategic alignment impact an organization’s performance? A lack of strategic alignment can have several negative impacts on an organization. It can lead to disengagement among employees, as they may not understand the significance of their work or how it contributes to the company's goals. This disengagement can result in wasted time and resources, as efforts are not focused on the most critical objectives. Additionally, misalignment can cause internal competition and conflicting priorities, leading to poor decision-making and a lack of coherent direction. Overall, it hampers the organization’s ability to achieve its strategic goals effectively.   Question: In what ways can building business acumen help improve strategic alignment within a team or organization? When employees develop business acumen, they start to really understand the bigger picture—how their work fits into the company’s overall success. With this understanding, they can see how their roles contribute to the company’s goals, which naturally leads to better communication, smarter decisions, and a stronger sense of purpose. Everyone starts pulling in the same direction, which helps the whole team or organization work more smoothly toward those common objectives, ultimately boosting performance.   Question: How can leaders ensure their teams are aligned with the company’s strategic priorities? Leaders can ensure their teams are aligned with the company’s strategic priorities by regularly communicating these priorities and how each team member’s work contributes to them. This can be done through frequent updates, team meetings, and individual check-ins. Leaders should also encourage feedback and discussions to ensure understanding and address any misalignment. Providing training and resources to develop business acumen among team members can also help them see the bigger picture and understand their role in achieving strategic goals. Lastly, recognizing and rewarding contributions that align with strategic priorities can reinforce the importance of alignment.   Question: Can you provide an example of how strategic alignment and business acumen can solve a common business issue? Sure! Let’s take the issue of high employee turnover. If a company is struggling with this, HR can use business acumen to dig into the data and figure out what’s causing people to leave—maybe it’s a lack of career growth or not enough competitive pay. Once they understand the root causes and how these issues impact the company’s bigger goals, they can create solutions like new career development programs or better compensation packages. These changes not only help keep employees around but also make sure the company’s efforts are in line with its overall strategy. It’s a great example of how strategic alignment and business acumen can tackle real business challenges together.     ACTIVITY: Now that you’ve explored the concepts of business acumen and strategic alignment, let’s put them into practice with a team activity:   Exercise: Aligning Team Goals with Company Strategy   Step 1:  Divide participants into small groups and assign each group a different company goal or strategic priority (e.g., increasing market share, improving customer satisfaction, or enhancing operational efficiency). Step 2:  Each group should discuss how the goal fits into the company’s overall strategy, evaluate how their team’s current projects align with this goal (identifying any gaps or misalignments), and create a brief plan to better align team activities with the goal.   Step 3:  Have each group present and discuss how these plans align with the company’s strategic priorities.   Outcome:  This activity will help your team understand how their work contributes to the broader company strategy and improve overall alignment. By identifying gaps and developing actionable plans, you can ensure that everyone is working towards the same objectives, enhancing performance and achieving strategic goals more effectively. Continue your learning… What Your   Executives Need   Next Steps… Top 10 Commercial Vehicle Manufacturer Aligns Employees to a Strategic Vision Press Release: Get a demo of our business acumen training: Attend a preview of our course from our Founder and CEO, Kevin Cope: Test your Business Acumen with this assessment: ✅ Subscribe to our YouTube Channel  for more Business Acumen videos! ✅ Follow us on LinkedIn @AcumenLearning  to keep up with all company updates! ✅ For more on our business acumen training visit our  website ! #businessacumen   #businessstrategy   #financialacumen   #financialstrategy   #learninganddevelopment   #HR   #leadershipdevelopment   #training   #businesssuccess    #businessacumentraining   #financialacumentraining  #ceo #executives #managers #leaders #financialhealth #business #alignment

Press Release OREM, Utah – August 22, 2024 Download the Business Acumen Press Release: News Facts: With a strong learning culture, a leading industrial manufacturing company has partnered with Acumen Learning to enhance the business acumen and decision-making skills of their Distribution segment leaders. This initiative aimed to equip service center general managers nationwide, who often rise through the company ranks, with a broader understanding of business strategies and enterprise-wide decision-making. Operating in 190 countries, the company prides itself on internal growth and development, and this business acumen training supports that mission. Acumen Learning provided customized training focused on informed decision-making, the complexities of business acumen, understanding the impact of their roles on the overall organization, and aligning daily decisions with the company’s long-term objectives. The training was a significant success, with participants scoring the course a 4.7 out of 5 in overall effectiveness. The program demonstrated the value of business acumen in enhancing leadership effectiveness, enabling participants to gain a deeper understanding of the company’s strategic goals and align their decisions with these objectives. Acumen Learning’s partnership with this global power leader underscores our expertise in cultivating business acumen among industry leaders. With plans to expand the initiative and train all of the general managers across the U.S., the company’s commitment to developing its internal talent is clear. Supporting Quotes: “The course reengaged me in some things I haven’t thought about in awhile and related them back to what I do on a daily basis. The instructor was very knowledgeable, well spoken, and engaging. An important yet fun experience.” “I think this was an excellent overview of corporate finance from a high level. Really taught me a lot about how to understand the corporate P&L.” “The course was awesome, very informative, interactive and engaging. Finance in business made easy.” “Very helpful course. Financials is not my strong point. This course has helped me understand more on how to read the P&L and has made me think how to run my business day to day.” “It was inspiring to see the dedication and enthusiasm of these leaders during the business acumen training," says Monty Magleby, Senior Financial Consultant with Acumen Learning. "Their commitment to understanding their roles and making informed decisions will drive the company’s long-term success. We’re excited to see this initiative expand and further develop talented leaders across the organization.” About Acumen Learning Founded in 2002, Acumen Learning's highly customized business acumen and sales training programs have helped organizations develop employees who are more engaged, efficient, and effective in their work. To further support its mission, Acumen Learning published, Seeing the Big Picture – Business Acumen to Build Your Credibility, Career, and Company , in 2012 which quickly became a #1 Wall Street Journal and a New York Times bestseller. More than 20  years later, Acumen Learning has been trusted by more than 200 organizations on six continents to help employees understand how their company makes money, and to take real steps towards improving that process.

Kevin Cope Revolutionizing Business with Artificial Intelligence: The Fusion of Human Insight and Machine Precision. AI is changing the way we work: faster processes, smarter insights, more automation. But as I watch these advancements unfold, I keep coming back to something Stephen R. Covey taught me years ago. The four unique human endowments that separate us from everything else are self-awareness , conscience , independent will , and creative imagination . These aren’t just philosophical ideas; they are the foundation of great leadership and business success. AI can process information at an incredible speed, but it can’t think about the bigger picture the way we can. It can’t wrestle with ethical dilemmas, push back on a bad idea, or dream up a future that doesn’t yet exist. That’s what makes us human, and that’s what gives us an edge.   Here’s why these four endowments matter more than ever: Self-Awareness:  AI can analyze data, but it can’t reflect on its own biases or think critically about the implications of its recommendations. The best leaders don’t just act, but they pause, reflect, and make decisions with clarity. Conscience:  AI follows rules. It doesn’t have a moral compass. Ethical leadership, especially in today’s rapidly evolving world, requires human judgment and the ability to discern right from wrong. Independent Will: AI makes suggestions, but we make choices. The ability to act with purpose and intention, despite obstacles, is what separates successful leaders from the rest. Creative Imagination:   This is the real game-changer. AI can remix existing ideas, but true innovation comes from people who can envision a new reality and who can create something from nothing.   What Does This Mean for Business? I believe AI is an incredible tool, but it’s not a replacement for human thinking. Business acumen isn’t just about reading financial statements and making strategic decisions. It’s about understanding the people behind the numbers, the vision behind the data, and the purpose behind the work.   Leaders who embrace AI without losing their humanity will have the biggest advantage. Use AI to enhance your work, but don’t outsource the qualities that make you a great leader.   So What’s the Takeaway? The future belongs to those who use AI wisely—those who see it as an enabler, not a replacement. My challenge to you: Lean into what makes you uniquely human. Develop your business acumen, lead with principles, and use AI to amplify, not replace, your impact.

Welcome to this insightful Q&A session with Kenny Snarr, one of our senior financial consultants. Today, we're discussing how human resources can benefit from business acumen and how to implement it into your role for success. Let's get started! Question: Kenny, how would you define business acumen and why is it important for HR professionals? Business acumen refers to the ability to understand and apply key business concepts and principles to make informed decisions that contribute to the overall success of an organization. For HR professionals, developing business acumen is crucial because it allows them to align HR strategies with the company's business objectives, making them more effective in their roles. By understanding how the business operates and generates revenue, HR professionals can better support organizational goals and make decisions that drive company success.     Question: How can HR professionals align their work with the company's business goals and KPIs? Great question. HR professionals can align their work with the company's goals and performance indicators by gaining a deep understanding of the key metrics and performance indicators that drive the business. You can’t align your own role to the objectives of the company without understanding what your company is working towards. This includes knowing how to find these metrics, analyzing the company’s performance against these objectives, and identifying ways in which your department can impact these metrics positively. By doing so, HR can ensure that their initiatives support and enhance the company’s overall strategy and objectives. One great place to start would be to listen to your company’s earnings calls! This gives you direct insight into exactly what the business is focusing on and hoping to accomplish.   Question: Earnings calls huh? I didn’t realize everybody could benefit from those. Next question, in what ways does business acumen help HR professionals make metric-driven decisions? Business acumen helps HR professionals make metric-driven decisions by empowering them to leverage data and analytics effectively. This includes analyzing metrics related to employee performance, turnover, and engagement to identify trends and areas for improvement. Additionally, HR professionals with strong business acumen can connect these HR metrics to the overall business performance, making informed decisions that support organizational goals. They can also manage HR budgets strategically, ensuring that resources are allocated in ways that best support the company’s objectives.   An example of this could be an employee within the human resources department who notices a high turnover rate within a specific department. This is a bit specific but is a great example. With developed business acumen, this HR professional should be able to analyze the turnover data in conjunction with the department's performance metrics and discover that the turnover is impacting overall productivity and, consequently, revenue. They then conduct employee surveys to identify the underlying issues, such as lack of career development opportunities or insufficient compensation.   With this data, this employee could then take a business case to their senior management, recommending targeted interventions like career development programs, competitive salary adjustments, and/or improved employee engagement initiatives. They project the potential return on investment by showing how reducing turnover would lead to higher productivity, lower recruitment costs, and increased revenue.   By effectively connecting HR metrics with business outcomes and strategically managing the HR budget to implement these changes, the HR professional demonstrates how business acumen leads to informed, metric-driven decisions that significantly benefit the company.   Question: Wow that is a great example! I assume you’ve seen a similar situation, which is awesome. How does business acumen enhance communication for HR professionals? Business acumen enhances communication for HR professionals by making them more comfortable and confident in discussing metrics, finance, and accounting concepts. This improved understanding allows them to communicate more effectively with other business leaders, connect HR decisions with strategic objectives, and articulate the impact of HR initiatives on business performance. Strong communication skills are key to effective leadership, and HR professionals with business acumen can better advocate for their department and contribute to strategic discussions.   Question: It seems that communication is key to every role, but especially in the Human Resources department. Do you have an example of an HR professional whose career benefited from developing business acumen? Maybe somebody who attended your class or an Acumen Learning graduate? Hmm. Great question. One individual that comes to mind was an HR business partner who initially worked at a publicly traded company. Her company brought in Acumen Learning and she was attending our Building Business Acumen Course. During the course, she quickly learned the gap in her business acumen and her ability to contribute more effectively to her company's goals. She spent time outside of the course to educate herself by reading Seeing the Big Picture, listening to her company’s earnings calls, and really engaging and learning the key metrics important to her company. By actively seeking opportunities to understand the financial aspects of the business, she began participating in cross-departmental meetings, learning from finance and operations leaders about revenue streams, cost structures, and key performance indicators.   With her growing expertise, she led a project to revamp the company's performance management system. By aligning the new system with the company's financial goals and key business metrics, she was able to demonstrate a direct correlation between improved employee performance and increased company profitability. This success showcased her ability to connect HR initiatives with business outcomes, significantly enhancing her credibility within the organization.   By applying her business acumen, she effectively managed HR budgets, strategically allocating resources to support critical areas of the business and advising other leaders on cost-saving measures without compromising employee engagement and morale. These strategic contributions led to her rapid promotion within the organization. In her new roles, her strong business acumen was instrumental in driving large-scale HR initiatives that supported the company’s growth and adaptation in a competitive market.   She also served on the board of a publicly traded company, where her insights into business operations and financial performance further underscored the value of integrating HR perspectives with overall business strategy. Her journey highlights how developing business acumen can empower HR professionals to make significant strategic contributions, leading to advanced career opportunities and organizational success. ACTIVITY: Now that you've explored the concept of business acumen and its significance for HR professionals, let's engage in a learning activity for your next team meeting:   Exercise: Enhancing HR Decisions through Business Acumen   Divide participants into small groups. Each group will be given a different hypothetical HR scenario that requires making strategic decisions. Examples include improving employee retention, addressing a skill gap, or enhancing employee engagement. Each group will discuss their scenario, focusing on the following points: Identify the HR objectives related to the scenario. Analyze the potential impact of different decisions on the company's overall performance and strategic goals. Consider how various business functions (e.g., finance, marketing, operations) would interact with HR in addressing the scenario. Then develop a detailed action plan that aligns with the company's strategic objectives and have each group present their action plan. Encourage a discussion around the strategies, metrics, and potential risks identified.   By engaging in this exercise, HR professionals can deepen their understanding of business acumen, enhance their ability to make strategic HR decisions, and effectively contribute to the organization's goals. Continue your learning… Next Steps… Do HR Experts Have a Seat at the Table Article: Get a demo of our business acumen training: Attend a preview of our course from our Founder and CEO, Kevin Cope: Test your Business Acumen with this assessment: ✅ Subscribe to our YouTube Channel  for more Business Acumen videos! ✅ Follow us on LinkedIn @AcumenLearning  to keep up with all company updates! ✅ For more on our business acumen training visit our  website ! #businessacumen   #businessstrategy   #financialacumen   #financialstrategy   #learninganddevelopment   #HR   #leadershipdevelopment   #training   #businesssuccess    #businessacumentraining   #financialacumentraining  #ceo #executives #managers #leaders #financialhealth #business #HR

We have Ryan Hunt, a senior financial consultant here today to talk to us about how business acumen can benefit managers and leaders within an organization! Let's jump right in with Ryan. Question: Hi Ryan, let's jump right in. Why is it essential for managers and leaders to possess strong business acumen? Great question. MIT did a study a few years back and found that although 97% of senior leaders said they had a clear understanding of their company’s priorities, 1/3 of those same leaders couldn’t even name 1 of their strategic objectives! And those objectives hadn’t changed for 2 years! 1/3 of them could name 3 out of 5! How do we make good, strategically aligned decisions that have the desired impact, when we don’t even know what that means?! Good business acumen means we know what strategy is, we know what our current initiatives are, and we’re making decisions that help meet those objectives. But as managers and leaders, it goes further. It means we can understand, interpret, and communicate our strategy, performance, and the why’s behind our decisions to get buy-in from our teams and colleagues. We have to be able to coach our teams. Question: Yikes! That is a scary stud y. How c an managers leverage their business acumen to coach their teams? Business acumen is simply knowing how we make money, and then making the appropriate impact in that money-making process. Managers with strong business acumen play a crucial role in coaching their teams, fostering innovation, and driving alignment with organizational goals. They shape and evaluate business ideas brought forth by their team members, assessing their value in terms of the company’s current initiatives whether that’s generating sales, enhancing operational efficiency, or making sound investment decisions. Additionally, these good leaders empower their teams to understand the evolution of the strategic journey, to interpreting the company's performance, and then bridge any gaps or leverage any strengths they see. By teaching team members to listen for indicators of the company's direction and performance, leaders can more deeply engage their teams by having a deeper connection to their objectives and see how important each team member is in the company’s success. How managers lead their teams plays a huge role, for good and for bad! Having business acumen helps managers equip their teams with the knowledge and skills needed to thrive and contribute effectively to the organization’s success. Good leaders develop business savvy individuals, the next level of impactful leaders. Question: How does having business acumen enable managers to serve as a linkage point between the company's strategic goals and day-to-day operations? Typically, managers have a little more experience and more access to information than their team members. Managers with strong business acumen can bridge the gap between the company's strategic direction and the daily activities of their teams by sharing that broader perspective. By effectively translating strategic objectives into actionable tasks and demonstrating how these tasks contribute to the bigger picture, managers provide meaning to their team members' responsibilities, fostering a sense of purpose and alignment. Also, a significant aspect of a manager’s role is educating and developing their employees. Managers play a crucial role in equipping these individuals with the tools necessary to thrive in the workforce and in their specific roles. It's their responsibility to ensure that every team member understands the vision of the business and how their individual role contributes to the bottom line. Question: Can you provide examples of how managers have successfully applied their business acumen to drive organizational success? Certainly! I get to see these success stories a lot! Managers with robust business acumen have been able to identify market opportunities, streamline processes for greater efficiency, and align team efforts with the company's strategic priorities. I’ll give you two examples of how seeing the bigger picture really makes a difference. We work with some mining companies. Front-line employees work with large machinery with limited visibility, caustic chemicals, and a lot of other hazards. If a team member doesn’t understand how important the safety initiatives are and doesn’t understand all the moving parts around him/her, it can not only cause a loss of productivity, but in a very real way, lacking that perspective can be a matter of life and death. A key priority in the mining business is safety, and everyone needs to see how that fits. Now, not many of us face life and death situations when we go to work. But we all have an impact on the companies we work for, so let me share another example that might resonate better. Managers and leaders are often tasked with coming up with solutions to challenges in the business and then pitching those solutions to senior leaders or executives to make investment decisions. One of our workshops helps leaders work through the gap analysis all the way to analyzing their solution. One manager I worked with was prepared to pitch a solution, but as she worked through the analysis, it became clear that her current solution wasn’t a tight enough strategic fit and didn’t have the financial impact that they needed to see. It was a great opportunity for her to identify in the early stages that she needed a different solution. That to me, was a huge example of great business acumen. Making good decisions means we have to know when to say “No. Let’s make a change.” She saved tens of thousands of dollars and a lot of time by identifying that early on in the process. Question: Wow that’s amazing! If any executive heard this success story, they’d be sure to come crawling to Acumen Learning for all of their business acumen needs!!! Way to go Ryan. Last question, I want to touch on your experience and expertise of working hands-on with individuals. What are some key differences you're able to see between managers who possess and really practice their business acumen on a day to day basis, vs. those managers who maybe don't give very much time and attention to it? This is a great question! I see a lot of differences, and they’re very prominent! Managers who possess and actively practice their business acumen on a day-to-day basis demonstrate several key differences compared to those who do not prioritize it. Firstly, like I briefly mentioned in a previous question, managers with strong business acumen tend to have a deeper understanding of their company's financial health, market dynamics, and strategic objectives. They are able to make informed decisions that align with the organization's goals and contribute to its success. On the other hand, managers who neglect business acumen may struggle to grasp the broader implications of their actions and decisions, leading to siloed decisions that have negative impacts downstream and missed opportunities. Managers with strong business acumen are also much better equipped to anticipate and navigate challenges in the business environment. They can identify potential risks and opportunities early on, allowing them to proactively address issues and capitalize on emerging trends. While managers who lack business acumen may respond reactively to challenges. By this point, it’s too late in the game. This results in suboptimal outcomes and heightened stress and uncertainty. Managers who prioritize business acumen often foster a culture of continuous learning and innovation within their teams. They inspire trust, encourage critical thinking, data-driven decision-making, and a results-oriented mindset, which fosters a high-performance culture. Managers who neglect their business acumen may struggle to inspire and motivate their teams, leading to disengagement and underperformance. Overall, the difference between managers who actively practice business acumen and those who do not, lies in their ability to understand, adapt to, and effectively navigate the complexities of the business landscape. By investing time and attention into developing their business acumen, managers can position themselves and their teams for long-term success. ACTIVITY: Now that you've explored the concept of business acumen and its significance for managers and leaders, let's engage in a learning activity for your next team meeting: Exercise:   Building Business Acumen for Effective Leadership Divide participants into small groups. Each group will be given a different hypothetical business scenario that requires making strategic decisions. Examples include launching a new product, entering a new market, or addressing a decline in sales. Each group will discuss their scenario, focusing on the following points: -Identify the company's strategic objectives related to the scenario. -Analyze the potential impact of different decisions on the company's financial health, market position, and overall strategic goals. -Consider the role of various business functions (e.g., finance, marketing, operations) in addressing the scenario. Then develop a detailed action plan that aligns with the company's strategic objectives. Make sure to include key steps and timelines, metrics for evaluating success, and potential risks and mitigation strategies. Then have each group present. Encourage a discussion around the great strategies and potential risks. By engaging in this exercise, managers and leaders can deepen their understanding of business acumen, enhance their ability to make strategic decisions, and effectively coach their teams to align with the organization's goals. Continue your learning… Business Acumen Skills for Managers & Leaders What Your Executives Need Next Steps… Business Acumen and Strategic Thinking for Managers Article: Get a demo of our business acumen training: Attend a preview of our course from our Founder and CEO, Kevin Cope: Test your Business Acumen with this assessment: ✅ Subscribe to our YouTube Channel  for more Business Acumen videos! ✅ Follow us on LinkedIn @AcumenLearning  to keep up with all company updates! ✅ For more on our business acumen training visit our  website ! #businessacumen   #businessstrategy   #financialacumen   #financialstrategy   #learninganddevelopment   #HR   #leadershipdevelopment   #training   #businesssuccess    #businessacumentraining   #financialacumentraining  #ceo #executives #managers #leaders #financialhealth #business

Press Release OREM, Utah – July 26, 2024 Download the Business Acumen Press Release: News Facts: Acumen Learning has partnered with a rapidly growing energy efficiency company! With a focus on helping both individuals and corporations save on energy costs, their dedication to innovation and expansion aligns seamlessly with Acumen Learning’s mission to empower organizations with essential business skills. After doubling their workforce in just two years, this woman-owned company wanted to elevate the skills of their leaders. With a substantial group size, they chose Acumen Learning’s T3 Essentials program, enrolling 50 leaders in the course and certifying 2 individuals to teach Business Acumen Essentials throughout the company. The sessions were structured to provide a comprehensive understanding of financial concepts, communication tactics, and engagement strategies vital for driving the company’s growth and safeguarding its revenues. The impact of the partnership between Acumen Learning and the energy company has been profound. Their dedication to up skilling employees has already demonstrated tangible benefits, positioning the company for sustained growth and success in the competitive energy market. Acumen Learning is committed to empowering organizations with the skills and knowledge necessary to thrive in today’s dynamic business landscape. We are excited to have certified the first trainers in our Building Business Acumen Essentials course and expect to see rapid growth with this new product launch. Supporting Quotes: “When we first discussed the T3 Essentials program with this rapidly growing energy efficiency company, it was clear they had a strong commitment to developing their leaders,” says Steve Call, Regional Sales Director at Acumen Learning. “We knew our program would be a perfect fit to help them achieve their goals. Seeing the program’s successful implementation and the positive impact on their team has been immensely gratifying.” “Throughout the T3 Essentials training, feedback from participants has been overwhelmingly positive,” says Julie Rasmussen, Senior Client Coordinator at Acumen Learning. “They appreciated the practical approach to financial concepts and engagement strategies. It is wonderful to see how our program has empowered them to contribute more effectively to their company’s success.” “Training the leaders at this dynamic energy efficiency company through our T3 Essentials program has been an incredible experience," says David Covey, Vice President of Strategic Markets at Acumen Learning. "Their enthusiasm and dedication to learning key business concepts is rewarding to see. I’m confident that their newly acquired skills will drive significant growth and innovation within their company.” About Acumen Learning Founded in 2002, Acumen Learning's highly customized business acumen and sales training programs have helped organizations develop employees who are more engaged, efficient, and effective in their work. To further support its mission, Acumen Learning published, Seeing the Big Picture – Business Acumen to Build Your Credibility, Career, and Company , in 2012 which quickly became a #1 Wall Street Journal and a New York Times bestseller. More than 20  years later, Acumen Learning has been trusted by more than 200 organizations on six continents to help employees understand how their company makes money, and to take real steps towards improving that process.

Press Release OREM, Utah – July 26, 2024 Download the Business Acumen Press Release: News Facts: As a dominant player in the insurance space, this financial services company leads the markets in the Caribbean and Canada. As they see extreme growth potential in North America, the company sought Acumen Learning to enhance its leaders’ business and financial acumen. To enhance financial literacy and operational efficiency, the company implemented customized business acumen training for its sales leadership and business management groups. These leaders now have a fundamental understanding of business acumen and financial metrics, essential for informed decision-making and driving the company’s growth. The financial services company recognized the value of customized business acumen training and included 100 licenses of Acumen Learning’s online program to reinforce its employees’ newfound skills. The curriculum addressed the unique needs of the company’s leaders, who required a deeper understanding of finance, despite their great functional expertise. The training made a significant impact. With the support of the online licenses for reinforced learning, these leaders are expected to enhance communication, make more informed decisions, and develop more effective strategies for their employees. Acumen Learning proudly welcomes a financial services firm as its newest graduate. We are dedicated to helping organizations unlock their full potential and guiding them on the learning journey of business acumen. Supporting Quotes: “The course has enhanced my understanding of the five business drivers, and will allow me to make more informed, strategic decisions and consider the commercial implications across the organization. I feel significantly more confident in my ability to analyze data, identify trends, and recommend initiatives that will positively impact metrics like profitability, productivity, and customer satisfaction.” “The workshop exceeded my expectations. It provided valuable insights and practical strategies that I am excited to implement in my work and also expose to my team.” “Great course that has helped me to have a better understanding of the financial statements of [company] and my role in contributing to the overall performance.” “I wish all of our clients would have their teams go through our online learning platform in addition to the customized course. This combination reinforces concepts, deepens understanding, and allows these leaders to apply what they’ve learned in real-world situations. I can’t wait to see the success they have!” About Acumen Learning Founded in 2002, Acumen Learning's highly customized business acumen and sales training programs have helped organizations develop employees who are more engaged, efficient, and effective in their work. To further support its mission, Acumen Learning published, Seeing the Big Picture – Business Acumen to Build Your Credibility, Career, and Company , in 2012 which quickly became a #1 Wall Street Journal and a New York Times bestseller. More than 20  years later, Acumen Learning has been trusted by more than 200 organizations on six continents to help employees understand how their company makes money, and to take real steps towards improving that process.

Today we have Kelvin Brents, Senior Financial Consultant at Acumen Learning here to help us understand the matching principle! Matching is a commonly used term in business. We want to help you understand it and know why it’s important for you! Let’s get on with it! Question: So Kelvin, give us a bit of a background…what is the matching principle and how does business acumen help us to understand it and incorporate it into our roles? The matching principle is an accounting concept that dictates that expenses should be recognized in the same period as the revenue they help generate, ensuring that your financial reporting is accurate. Business acumen enhances our understanding of the matching principle by providing insights into how expenses impact revenue generation and overall business performance. With a strong grasp of business acumen, we can better identify expenses that should be matched with specific revenue streams, make informed decisions on when to recognize expenses, and strategically allocate resources to maximize profitability. Incorporating the matching principle into our roles not only ensures compliance with accounting standards but also enables us to effectively analyze and improve business operations. Who doesn’t want that?? Question: Wow that’s awesome. If we all knew a way to improve our business operations, we would do it. You’ve given us a hack! Next question, can you explain how the matching principle applies to non-cash expenses? Even for non-cash expenses like depreciation, the matching principle still applies. Depreciation expenses are recognized over the useful life of the asset to match the expense with the revenue generated by using the asset during that period. For instance, let's say a company purchases a piece of machinery for $100,000 with an estimated useful life of 10 years. Instead of recognizing the entire $100,000 expense in the year of purchase, the company would spread the expense over the 10 years, aligning it with the revenue generated by utilizing the machinery each year. This ensures that the expense is matched with the corresponding revenue, providing a more accurate representation of the company's profitability each year. Otherwise, if we put on our financial statements that we spent the entire $100,000 on the machinery, it would show that we didn’t generate as much revenue simply because we had such a large one-time expense.  Question: Are there any exceptions to the matching principle? Yes, the matching principle is a fundamental concept in accounting, but there are certain exceptions that warrant immediate recognition of expenses rather than matching them with future revenue or benefits. One common exception is when an expense cannot be reliably associated with future revenue or benefits. For instance, some research and development costs may not directly result in future revenue generation, making it impractical to match these expenses with specific periods or revenue streams. In such cases, these expenses are often recognized immediately as incurred to avoid distorting the financial performance of the period in which they occur. Certain one-time or extraordinary expenses, like restructuring costs or legal settlements, may not align with future revenue and are recognized in the period they occur to provide a true reflection of the company's financial position. While these exceptions deviate from the traditional application of the matching principle, they are necessary to ensure accurate and transparent financial reporting in unique circumstances. Question: So, you’re telling me we won’t get in any serious trouble or go to jail if we don’t follow the matching principle? No, you’re okay. However, if you disregard the matching principle altogether, it does have serious repercussions for your business! But you won't go to jail, don’t worry! Inaccurate financial reporting resulting from not applying the matching principle could lead to misleading financial statements, which may erode investor trust, damage your company's reputation, and potentially attract regulatory scrutiny. Which obviously is dangerous! You could misinterpret your company's financial health due to mismatched expenses and revenues and that can hinder strategic decision-making and jeopardize long-term sustainability. Therefore, while the consequences may not involve legal penalties, the importance of correctly applying the matching principle cannot be overstated for maintaining financial integrity and fostering trust among stakeholders. So, I’m not trying to scare you! But, there are some real consequences if you don’t follow it. Question: Okay good, that clarification helps! Last question for you Kelvin! How can businesses ensure they are applying the matching principle correctly? Businesses can ensure proper application of the matching principle by carefully analyzing the relationship between expenses and revenue, considering the economic benefits derived from expenses over time, and adhering to relevant accounting standards and guidelines. Regular review and adjustment of accounting practices also help in maintaining compliance with the principle. Use your best judgment! As a business owner, you can gauge the reflection of your company's financial position and you’ll report accordingly. You’ve got this ACTIVITY: Now that you've explored the concept of the matching principle and its significance in financial reporting, let's engage in a learning activity for your next team meeting: Exercise:   Matching Principle in Action Divide participants into small groups. Each group will be given a different hypothetical business scenario where they need to apply the matching principle. For example, purchasing machinery, conducting an advertising campaign, or incurring research and development costs. Each group will discuss how to recognize the expenses related to their scenario over time to match them with the revenue generated. Consider both cash and non-cash expenses. Develop a step-by-step plan on how to apply the matching principle correctly in their given scenario. Include considerations for accurate financial reporting and adherence to accounting standards. Have each group present their scenario and the application of the matching principle to the entire team. Encourage a discussion between the teams and provide feedback on their approach. This exercise helps teams apply theoretical knowledge to practical scenarios, enhancing their understanding of the matching principle and its impact on financial integrity and business operations. Continue your learning… Important Financial Acronyms The Matching Principle Next Steps… Financial Glossary on Business Terms: Get a demo of our business acumen training: Attend a preview of our course from our Founder and CEO, Kevin Cope: Test your Business Acumen with this assessment: ✅ Subscribe to our YouTube Channel  for more Business Acumen videos! ✅ Follow us on LinkedIn @AcumenLearning  to keep up with all company updates! ✅ For more on our business acumen training visit our  website ! #businessacumen   #businessstrategy   #financialacumen   #financialstrategy   #learninganddevelopment   #HR   #leadershipdevelopment   #training   #businesssuccess    #businessacumentraining   #financialacumentraining #financialhealth #business #matching #matchingprinciple

Business acumen is an indispensable set of skills that is highly valued in the workplace. It encompasses a thorough understanding of how a business operates, generates profit, maintains profitability, and accomplishes strategic objectives. It is a valuable tool for professionals to make informed decisions that align with their company's financial goals. In this article, we will explore five critical business acumen skills that employees can develop to contribute to their company's success. These skills include understanding financial statements and key metrics, thinking strategically, communicating effectively, developing leadership skills, and continuously learning and growing . If you're interested in roles that involve financial analysis, consider exploring  Business analyst jobs on Jooble  to gain experience in understanding these crucial metrics in a real-world setting. Test your Business Acumen with this Quick quiz: Understand Financial Statements and Key Metrics Understanding financial statements and key metrics is an essential business acumen skill. Financial statements , such as balance sheets, income statements, and cash flow statements, provide valuable information about a company's financial performance. Key metrics, such as revenue, profit margin, and return on investment, help measure a company's financial health and profitability. Being able to analyze financial statements and key metrics allows employees to make informed decisions that align with the company's financial goals. For example, if a company is experiencing a decline in profitability, an employee with business acumen skills may suggest cost-cutting measures or identify new revenue opportunities. Using Business Acumen to Think Strategically Thinking strategically is another critical business acumen skill. It involves understanding the company's long-term goals and developing a plan to achieve them. Strategic thinking requires analyzing market trends, identifying potential risks and opportunities, and making informed decisions that align with the company's objectives. Employees with business acumen skills who can think strategically can contribute to the company's success by identifying new growth opportunities or suggesting ways to improve operational efficiency. Communicate Effectively Effective communication is a crucial business acumen skill. It involves being able to articulate complex ideas in a way that is easy to understand. Employees with strong communication skills can explain financial information or business strategies to their colleagues and superiors in a way that makes sense. Effective communication also involves being able to listen actively and ask thoughtful questions. By listening to others' perspectives, employees can gain a more comprehensive understanding of the company's goals and make more informed decisions. Develop Leadership Skills using Business Acumen Developing leadership skills is an essential component of business acumen . Leadership skills involve the ability to inspire and motivate others, delegate tasks effectively, and provide feedback and constructive criticism. Leadership skills are especially valuable for employees who aspire to management positions. By developing leadership skills, employees can demonstrate their potential to take on more significant responsibilities and contribute to the company's success. Continue Learning Finally, continuously learning and growing is a crucial business acumen skill. The business world is constantly evolving, and employees need to stay up-to-date with new technologies, market trends, and industry developments. By investing in their professional development, employees can demonstrate a commitment to the company's success and position themselves for future growth opportunities. Continuous learning can involve attending training sessions or conferences, reading industry publications, or taking online courses. Business acumen is a crucial skill set that is highly valued in the workplace. Employees who possess business acumen skills can make informed decisions that align with the company's financial goals , think strategically, communicate effectively, develop leadership skills, and continuously learn and grow. By investing in professional development and cultivating these skills, employees can contribute to the company's success and position themselves for future growth opportunities. Building Business Acumen: Download the course overview for our Building Business Acumen Course: ✅ Subscribe to our YouTube Channel for more Business Acumen lessons! ✅ For more on our business acumen training visit our website . #businessacumen #businessstrategy #learninganddevelopment #leadershipdevelopment #salessuccess #financialstrategy #financialacumen #businesssuccess #workplaceskills #skills #businessacumenskills

Press Release OREM, Utah – April 2, 2024 Download the Business Acumen Press Release: News Facts: Acumen Learning, a leading provider of customized business acumen training, has partnered with one of the top 10 largest automotive companies in the world, leveraging their expertise to empower organizations with essential business skills. This automotive client was looking to make the business acumen training more accessible to all levels within the organization. As a cost-effective method, they decided to start by putting 6 trainers through Acumen Learning’s Train the Trainer program while expecting to expand in the future. The se trainers will get certified, then go back to their teams and teach the course broadly. This initial course was to allow these individuals and some others from various departments to experience the Building Business Acumen® program for themselves. As this company integrates the T3 training model into their operations, they are committed to partnering with Acumen Learning to further empower individuals with essential business skills and foster heightened employee engagement. The trainers’ enthusiasm has propelled them toward embracing this transformative training journey with determination. The business acumen course was extremely well received. Participants collectively gave the course a net promoter score of 62. This gives insight into the great impact business acumen training can have on all levels within every organization. Acumen Learning is proud to add another noble automotive company to their list of esteemed graduates. Supporting Quotes: “I thought this course was spot on, and I plan on sending my managers, and supervisors through it.” “Great class - very well laid out and explained. The material covered was detailed.” “Eye opening. Have never delved that deep into financial performance nor how it connected to my role.” “I enjoyed the class. Took a lot of complex ideas and made it understandable.” “Great activity! I enjoyed reading our CEO’s financial message and comparing it to other companies.” “Insightful and informative. It gave me a better understanding of how I can impact company performance and why it’s important.” “I loved witnessing our collaboration with this automotive client," says Kelvin Brents, Financial Consultant with Acumen Learning. "Seeing the trainers prepare for the T3 program with such dedication is incredibly motivating. We can’t wait to watch their journey unfold, knowing that their newfound skills will not only elevate organizational success but also ignite a spirit of engagement among employees.” About Acumen Learning Founded in 2002, Acumen Learning's highly customized business acumen and sales training programs have helped organizations develop employees who are more engaged, efficient, and effective in their work. To further support its mission, Acumen Learning published, Seeing the Big Picture – Business Acumen to Build Your Credibility, Career, and Company , in 2012 which quickly became a #1 Wall Street Journal and a New York Times bestseller. More than 20  years later, Acumen Learning has been trusted by more than 200 organizations on six continents to help employees understand how their company makes money, and to take real steps towards improving that process.