Archive | May 21, 2011

Business Acumen: Essential To Having Great Company Teamwork

Company Teamwork photo

Teamwork in definition is joint action by a group of people in which each person contributes his opinions or skills to benefit a unified purpose. Teamwork does not discount individualism but rather enhances each person’s individual talent or capabilities to make a more effective outcome.

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In business, teamwork is important. Most companies realize that a team is better than one person doing the job. They realize that the outcome would be faster, broader, and better. But then it is also important for these individuals who make up the team to have business acumen.

Business Acumen is the ability of the person to be keen, perceptive, and quick in assessing business situations in a manner that would lead to a likely good outcome. Business acumen in layman’s terms may also be referred to as business savvy or having a business sense. People with business acumen have an acute perception of the dimension of business issues. They can make sense of the complex and uncertain future. They are mindful of their choices and what implications it will have on all the affected parties. They are decisive and flexible if further change is needed.

Business acumen is gained by knowledge. It can be gained by reading, studying but also in doing. Business Acumen is all about the confidence without the arrogance. Some may even undertake business acumen trainings to enhance their skill.  People with business acumen don’t give up easily. The saying “never say die” would fit well to those people with business acumen. They may have failed a thousand times but they are willing to stand up a million times more. Besides in mistakes you gain knowledge. And that knowledge will prevent you from making the same mistake in the future.

But then people with business acumen don’t stay mule-headed about a certain thing. It’s knowing what works and what doesn’t. If it doesn’t work then drop it. If it works then continue doing it and improving it on the way. There are even business acumen trainings being offered to develop this. One must have a more thoughtful analysis, clearer logic underlying business decisions, closer attention to key dimensions of implementation and operation, and more disciplined performance management.

Having people with good business acumen in a team is very profitable. They can guide the other members of the team and utilize their individual talents to make the best possible outcome. People with business acumen enhances teamwork as to knowing which works and which does not and seeing these potential of each team member and honing them to complete a single purpose that will be benefit each and every one.

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