Seeing the Big Picture
Many people believe you are born with business acumen, which is loosely defined as the ability to assess an external market and make effective decisions. Knowing what is necessary to navigate and create a successful business seems innate for certain people. For example, Steve Jobs showed great business acumen. Fortunately, it is possible for the rest of us to improve business acumen. The right training combined with experience will improve your business savvy.
Business acumen requires an understanding of finance, strategy, and decision making. Most managers and employees, however, are responsible for specific areas, and they have little understanding of the impact their decisions have on other areas. When too much focus is placed on one aspect of the business, it is difficult to make decisions for the good of the company. In order to make effective decisions, it is necessary for you to examine the big picture.
When looking at the big picture, it is necessary to consider long term as well as short term interactions. Short term interactions are immediate, single exchanges, and they are necessary for the company to survive. Without looking at the big picture, however, short term interactions may hinder long term success. For example, you may damage a business relationship by using aggressive sales techniques, costing you sales in the future.
Long term interactions are processes or relationships that are essential to growth. Long term business success requires the long term interactions. The relationships with customers, vendors, and employees need to be carefully cultivated. Failure to cultivate relationships occurs when there is a lack of communication or communication is not respectful. Long term relationships help guide the future of the business.
The full 6 hour online course is available at Networx Business Solutions.
40% off discount code: Networx2015
Tina Oliver, M.Ed.