Business Acumen

Key Questions For Reflection

Business Acumen
1. How aware are you of the key drivers of my business?
2. How often do you keep myself updated of external global business developments and understand
their potential impact on the companies’ performance?
3. Do you possess clear understanding of emerging consumer and competitive trends?
4. How actively do you seize a business opportunity?
5. Do you understand commercial and business implications of your actions?

Exercise: What Business Are We In? Regular Practices

1. Identify the key drivers of the business and 1. Regularly conduct your own environmental
the current business model scan to identify internal and external issues
impacting the business. Lead a discussion
2. Based on your understanding build group with peers about how these factors
scenarios to understand impact your organization.
a. Why would customers continue to 2. Participate in or create a discussion groups to
buy our products discuss topics in your field.
b. How would their preferences /
3. Take a calculated approach to evaluate
requirements change
possible initiatives in the business and
c. What product / service gaps these
anticipating potential obstacles for the same.
new customer requirements will
bring 4. Talk to some one outside your company and
d. What new organizational ask questions regarding how the company is
capabilities may emerge with new viewed.
technology development 5. Try to find out the loop holes in the current
product and services, find how the competitor
3. List down potential business opportunities is better in delivering the same.
that are emerging and analyze financial
implications of each opportunity and the
business impact that it will have if
capitalized on or missed

4. Present this to different stakeholders in

the organization
Activities, Assignments & Projects

1. Seizing the business opportunity: Financial Value Add People with Business Acumen have a sense of
urgency, firing up the business in order not to miss Opportunities for achieving growth goals.
a. When faced with a growth opportunity,
b. Assess the time/resources necessary to take advantage of it.
c. What would be the financial and other consequences of doing nothing?
d. What would be the worst consequences of missing the opportunity?
e. What would be at stake for your business?
f. Build a business case including financial data and take the initiative forward
2. Financial Analysis for business understanding
a. Conduct a complete business and financial analysis of your organization
b. Conduct a similar financial analysis of three other competitors based on published data
c. List the key parameters on which your organization is different from others
d. What is the impact of these differences, do they present opportunities for your organization
e. Discuss this information with someone who has a good understanding of business / industry
f. Present to your functional / business head

Readings and other self study Resource:

 Slywotzky, A., Morrison, D., & Andelman, B. (2002). The profit zone: How strategic
business design will lead you to tomorrow's profits. New York: Three Rivers Press

 Wheeler, A. (2006). Designing brand identity: A complete guide to creating, building, and
maintaining strong brands (2nd ed.). New York: John Wiley & Sons.

Please click on the link below to access the detailed development resource guide.
http://www.abgdacreports.com/Competency/UI/Home.aspx