What is commercial acumen exactly?
Commercial acumen can mean good financial management skills or knowing the specific details of other functional areas in an organisation. Even though this knowledge is important, in reality, commercial acumen is much broader in scope. It’s knowledge of key business issues, the skill to apply that knowledge, and most importantly, it’s having the confidence to take action to have a positive impact towards achieving the objectives of the organisation.
When employees have commercial acumen, they understand how the company makes money and how it achieves its goals and objectives. They have the perspective to understand how each decision affects the organisation.
- Do your employees know enough to make a positive business impact?
- What if there was a way to know how business savvy the people in the organisation are right now?
- What if you could avoid teaching the ‘basics’ to people who already know them and ensure that everyone else is given them?
How Does Kaplan’s Commercial Acumen Diagnostic Work?
Our Commercial Acumen Diagnostic presents business scenarios and poses two key questions:
- Do you know the answer?
- How confident are you that your answer is correct?
With a few complex algorithms and a wealth of expertise, we analyse the answers to give you a clear picture of who is business savvy and who represents a risk to your organisation. This empowers us to efficiently target who needs training and development, and in which areas they need it most.
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