Business Acumen Course: Introduction

The short way of saying Business Acumen is saying “See the big picture?” Business Acumen is largely, good insight and even better foresight. It is usually represented by Key Performance Indicators. An example of a KPI could be a power plant with its accident free days posted for workers.

Business Acumen Course :Course Outline

Business Acumen can be correctly defined as insight, good judgment, intelligence, wisdom or expertise. This course, presented by boti.co.za is specifically tailored to provide participants with the big picture in their business. It links back to all the preceding courses where we covered different aspects of the business place and learned about people skills and strengths including those skills managers need to lead. In a nutshell, business acumen will teach you how to develop a risk management strategy, how to practice financial literacy and most importantly; how to develop critical thinking skills. When starting a business any owner will tell you that their short term and long term interactions with their clients are the most important tool they have to ensure the survival of their business. Thus we will look at short term and long term interactions and how to improve existing relationships. We’re sure you’ve heard about KPI’s before, but just as a refresher we will do several activities relating to key performance and we’ll help you tailor your KPI’s to your own specific business needs, for managers we will also help you decide how best to present your key performance indicators. TIP: Decisive key performance indicators depend on three things – Defining areas to monitor, identifying criteria that need to be monitored and defining the measurements of the indicators. An example everyone will relate to are KPI’s in the mining industry, safety is measured by how many accident free days the mine has had. This is possible because crucial areas of safety are defined and monitored by the safety officer. Now that participants see the big picture and how every department fits in a business, we look at risk management strategies. The purpose is to recognize dangers and threats to the company and minimize them. We will teach participants the five most important risk assessment steps and then we’ll ask our students to practice what they have learned in specific activities so that risk assessment becomes a term that is comfortable to use because students have the skills to apply them. As we defined business acumen at the top of the newsletter, we will teach our workshop participants how to develop the art of seeing everyday as a new learning experience. To cultivate the habit of learning all the time and make decisions based on new learning. This is the insight or intuitiveness of successful managers and business owners. Part of the expertise one develops with business acumen is by requesting feedback, and being open to new ideas. BOTI practices its business acumen when we invite prospective students to email us with questions – here is our address if you’d like to do so [email protected] 1. Introduction
Pre workshop review
Workshop objectives

2. Seeing the big picture
Short and long term interactions
Recognising growth opportunities
Mindfulness of decisions
Everything is related
Case study

3. KPI’s Key Performance Indicators
Decisiveness
Flexible
Strong Initiative
Being intuitive
Case study

4. Risk management strategies
Continuous assessment
Internal and external factors
Making adjustments and corrections
Knowing when to pull the trigger or the plug
Case study

5. Recognising learning events
Develop a sense of always learning
Evaluate past decisions
Problems are learning opportunities
Recognise your blind spots
Case study

6. You need to know these answers and more
What makes my company money?
What were sales last year?
What is our profit margin?
What were our costs?
Case study

7. Financial literacy (1)
Assets
Financial ratios
Liabilities
Equity
Case study

8. Financial literacy (2)
Income statement
Balance sheet
Cash flow statement
Read, read and read
Case study

9. Business acumen in management
Talent management
Change management
Asset management
Organisational management
Case study

10. Critical thinking in business
Ask the right questions
Organise data
Evaluate the information
Make the decision
Case study

11. Key financial levers
Investing in people
Effective communication
Process improvement
Goal alignment
Case study

12. Topics not discussed
Lessons learned
Post workshop overview

Business Acumen Course: Course Duration

1 day/s

Who should attend: Business Acumen Course

This is a managerial course for middle and senior management.

**Quote does not include Any Exam Fees (if applicable)

IMPORTANT ACTION: Do Not Wait To Improve Your Skills.  

Book Now By Completing Online Booking Form / Customised Proposal or Obtain Approval For Your Already Received Customised Proposal