Positive Mentoring: 7 Vital Business Acumen Skills Needed

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Business acumen can be described as one’s ability to deal with various business situations in a way that will lead to a good outcome. Many different skills and ideas can fall under the umbrella of business acumen and knowing the most important ones can help one thrive in any business setting.

Whether one is working an entry-level job or as a top-level manager, well-developed business acumen can aid one in navigating successfully through anything that comes one’s way. Here are seven vital business acumen skills needed to thrive.

Understanding Trade-Offs

Understanding trade-offs is a vital business acumen skill that can benefit one in any business setting. Knowing why an organisation should or should not make certain trade-offs allows one to think deeply about the effect that these actions will have on an organisation and allows one to effectively argue one’s case to others.

As standards for employees become higher in the business world, those looking to stand out and showcase their value can benefit tremendously from a thorough knowledge and comprehension of trade-offs.

Connecting With Others in the Workplace

Connecting with others in the workplace is an important business acumen skill that can help one feel happier, and as a result, be more efficient and productive. Business settings can sometimes feel competitive, especially in sales, and many employees may fall into the trap of becoming distrustful of their peers.

By doing this, one is causing themselves to be unhappy, likely diminishing both the quality of one’s work and the speed at which one can get things done. By being on good terms with one’s coworkers, one can feel happier in their role and do better work.

Understanding Connections Within an Organisation

A significant skill that the top business minds have is an understanding of the various connections within an organisation. By understanding how various people and departments connect and interact with each other, one is better able to navigate the organisation in the ways that they want to. Conversely, those without an in-depth understanding of these connections can have difficulty guiding an organisation because they have trouble knowing how to get everyone on the same page.

Giving Work Meaning

Having the ability to give one’s work meaning is a powerful business acumen skill that has the potential to boost one’s sense of satisfaction and productivity in the workplace. Studies have shown that people are more productive in the workplace when they feel like what they are doing has genuine meaning.

Bearing this in mind, those who aim to standout in the business world can make themselves more productive by ascribing meaning to their role in their organisation. The more meaning one feels that their job has, the more productive they will likely be.

Having Leadership Skills

Leadership qualities are a business acumen skill that many, if not all, of the most successful business minds have in their arsenal. Being able to lead a team and have others do what one wants them to make an organisation thrive in any situation. Those with strong leadership skills will stand out to upper-level management and have more upward mobility opportunities in their workplace. Leadership is one of the most important skills that any business mind can possess and is vital to one’s success in any organisation.

Problem-Solving

An important aspect of any business role, especially leadership roles, is problem-solving. The ability to solve problems is a business acumen skill that is important to every business in every industry.

Unforeseen challenges will inevitably arise in any business venture, and those with the skills necessary to solve these problems will likely be the ones who find success within their organisations. Those who showcase their problem-solving abilities separate themselves from the pack and communicate their value to their organisation.

Strategic Thinking

Strategic thinking is one of the most significant business acumen skills that a business mind can possess. By being able to look at the big picture, one understands what drives business and can make potent strategies accordingly.

Those who are unable to think strategically will likely run into more unforeseen challenges that could have been avoided by careful planning and consideration. Anyone who aspires to high-level roles in an organisation needs to have a developed ability to think strategically and see the big picture in their mind’s eye.

Advancing One’s Business Acumen Skills

Like any other skill, business acumen can be developed if one puts in the proper amount of time and energy into it. If one is committed, there is doubt that achieving valuable business acumen skills is both possible and attainable. By being aware of these skills and the profound effect they can have on one’s life, one is in a position to develop their skills and thrive in the workplace.

If you're looking to develop new skills, we suggest finding a mentor at PushFar, the world's leading mentoring and career progression platform.

This article was guest written by Andrew Deen.