Business acumen is a much coveted item by business leaders and managers. What really is business acumen? Based on the descriptions by renowned business gurus from all over the world, business acumen can be elucidated as the singular ability to evaluate the ever changing dynamics of the business environment and make the correct decisions that bring the highest gains. To put it plainly, it is the uncanny knack to predict the market and rake in the maximum profit.
Evidently, only a few individuals possess business acumen. Many skills and attributes are necessary to lead any business, leave alone a successful one. Intelligence and an eagerness to the acquire new knowledge is essential for scrutinizing information and grasping opportunities. Constant innovation is required to capture the attention of the consumer and stay ahead of competition. Resourcefulness and ingenuity are interesting additions. They are helpful in extracting the maximum out of minimum.
Good communication skills help in making an effective leader. Taking quick decisions, realistic goal setting and focusing on accomplishing them should happen naturally. Confidence and sturdiness to take the necessary risks are crucial to be successful in a cut throat industry. However, the most important feature of business acumen would be common sense. It is the obviously the most needed trait and pervades through all the above mentioned functions. Common sense is essential to correct interpretation of the business intelligence, proper decision making and setting sensible goals. Common sense is therefore, the most importance feature of business acumen.About the Author: