Business Acumen: A Critical Capability for Recovery

Position your team for success

As organisations  around the world plan, adapt, and pivot to survive and restabilise through the Covid 19 pandemic it is critical to consider the capabilities your people will need to take your business forward. By prioritising the right behaviours and building key capabilities you can position your people, teams, and organisation to, not only survive 2020 but, to emerge stronger and with the agility to leverage the multitude of opportunities that will come with our new normal.

 

Many leadership capabilities that were important Pre-Covid, are now critical. Resilience, adaptability, and collaboration, of course, sit very high on that list, however, one that must be at the forefront is Business Acumen.

People with Business Acumen are “distinguished by their ability to position their companies advantageously while operating within the same external landscape as their competitors”. Management guru Ram Charan says that no single aspect of managerial skill is more important.

  • Can identify economic drivers and help position the business to make money
  • Thrive under pressure, proactively seeking out new opportunities and challenges
  • Clearly articulate strategic priorities and link to individual and team objectives
  • Connect to understand different perspectives in order to further their knowledge and build better business solutions
  • Have the curiosity, adaptability and confidence to challenge thinking and articulate possibilities

Added Insight is on a mission to make business better

Talk to us about identifying and growing the Commercial Mindset your business needs right now.

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References: Ram Charan, “Sharpening Your Business Acumen,” s+b, Spring 2006, Issue 42. Retrieved from: https://www.strategy-business.com/article/06106?gko=d7c24