Many people believe you are born with business acumen, which is loosely defined as the ability to assess an external market and make effective decisions. Knowing what is necessary to navigate and create a successful business seems innate for certain people. For example, Steve Jobs showed great business acumen. Fortunately, it is possible for the rest of us to improve business acumen. The right training combined with experience will improve your business savvy.
What Is The Training Course Methodology?
This training course methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as theoretical lectures and/or open discussion to exchange opinions and experiences, scenarios, innovative thinking brainstorming. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets.
Who Should Attend This Training Course?
This training course is designed for all Management level employees, supply chain/inventory management, and capacity decisions, purchasing, selling managers who are to assist in the whole picture.
What Is The Training Course Objectives?
This certification gives you the needed knowledge and skills to ensure participant’s Acknowledgement of Business Acumen. Business acumen requires an understanding of finance, strategy, and decision-making. Most managers and employees, however, are responsible for specific areas, and they have little understanding of the impact their decisions have on other areas. When too much focus is placed on one aspect of the business, it is difficult to make decisions for the good of the company. In order to make effective decisions, it is necessary for you to examine the big picture.
Know how to see the big picture
Develop a risk management strategy
Know how to practice financial literacy
Develop critical thinking
Practice management acumen
Find key financial levers
What Is The Training Course Curriculum?
Seeing the Big Picture: A Comprehensive Overview
Short-and long-term interactions
Recognize growth opportunities
Mindfulness of decisions
Everything is related
Case study (I)
KPI’s (Key Performance Indicators)
Risk management strategies
Internal and external factors
Adjusting and corrections
Knowing when to pull the trigger or plug
Case study (II)
Recognizing Learning Events
Develop a sense of always learning
Evaluate past decisions
Problems are learning opportunities
Recognize your blind spots
What makes my company money?
What were sales last year?
What is our profit margin?
What were our costs?
Financial Literacy (I)
Case study (III)
Financial Literacy (II)
Cash flow statement
Case study (IV)
Business Acumen in Management
Critical thinking in business
Evaluate the information
Make the decision
Key Financial Levers
Investing in people
Asking open-ended questions
The certification is accredited by Chartered Management Institute with 35 Professional Contact Hours. Participants will receive an additional certificate, besides ACAD’s Professional Certificate from Chartered Management Institute UK, upon request. For more information, visit www.managers.org.uk