What is business acumen? - Is Business Acumen About Finance?

So some people feel like business acumen may just be about finance. But it's not. Now finance is the language we use in business, and it's a language that I think is important for everyone to understand. And it is not a language that has to be overly complex. You can get the language of business. You can get the language of finance. But it's not just about finance. It's about the choices you make every day as a company and you as an individual — to win, and to succeed moving forward. It's the decisions around how much cash do I have and where do I put it to drive value. How much should we invest in new product development? How much should we invest in what markets we participate in? How do we think about product design and how does that drive the future growth of the business? But if we can design the products effectively and efficiently then we can actually drive greater profitability as well. So when you think about business and business acumen, it's not just about the economic outcomes of the impact of your choices. But the tensions between short-term and long-term, growing sales but also better managing costs. How you think about where you invest the money, to drive customer value. How do you make these choices and bets to help you succeed in the long term, is also really core to business acumen. Now the outcomes that are found in the financials and found in financial metrics are also a language that are important to know. But business acumen is about business and business success — and how you contribute to it. Learn more about our Building Business Acumen training at https://www.acumenlearning.com/on-site-training. Follow Ben Cook https://www.linkedin.com/in/ben-cook-4a70252/ Follow Acumen Learning https://www.linkedin.com/company/acumen-learning https://www.instagram.com/acumenlearning/?hl=en https://www.facebook.com/acumenlearningllc/ ✅ Subscribe to our YouTube Channel for more Business Acumen videos! ✅ For more on our business acumen training visit: https://www.acumenlearning.com/ #businessacumen #businessstrategy #learninganddevelopment #leadershipdevelopment #financetraining #businesstraining #financialstrategy #financialacumen #businesssuccess #profitability