Why Business Acumen is Imperative in the Modern Workplace

CLN’s recent special report and webinar delved into the significance of business acumen, a skill that anchors businesses and employees as the world evolves rapidly around them. In the last few years alone, society has been reshaped by both a pandemic and by monumental advancements in AI. The organizations that cultivate high business acumen stay ahead of the curve.

Business acumen is the collection of skills that allows an employee to respond to business changes, both within the organization and due to overarching societal factors. It includes staying informed about global business trends, understanding how the company is responding to these trends, and comprehending the company’s long-term goals.

High business acumen leads to:

Workplace Success

The foundational skills associated with high business acumen can improve on-the-job performance and lead to increased success and opportunities for career advancement.

Career Mobility

High business acumen equips employees to succeed, allowing for internal mobility in the form of lateral or promotional moves. It also equips employees to potentially succeed outside the company, which can actually lead to increased retention as employees feel they are growing and obtaining the skills they need within their current organization.

Organizational Benefits

With highly informed employees, the business remains ahead of the curve even as societal shifts take place.

CLN Survey Results

The L&D professionals who responded to CLN’s survey on business acumen rated the top four benefits of business acumen as:

-Enhanced decision-making (86%)

-Enhanced leadership effectiveness (77%)

-Improved problem-solving (75%)

-Increased efficiency and productivity (69%)

Business acumen is key to success. To learn about cultivating business acumen at your organization, download our special report and view our recent webinar on the topic.