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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.

Rising Atop The Business Food Chain With Increase Profits

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The first thing that comes to the mind of a person once he has started his business is how to increase the profits of the business that he has put up. This is due in part to modern thinking that success in the business industry can be measured by how much profit a particular business makes; and if one business in particular does not generate income, then it pretty much is a losing battle for that business. Few people realize however, that increasing the profits of a particular business can be solved by studying the early stages of successful business and the studies made by various experts on that matter.

As a matter of fact, there are already numerous studies that were made that were aimed particularly to answer the question on how a business can increase its own profits. Some of the results have come as a shock as the most simple solution was able to create a chain reaction starting from productivity to profitability and it also made the workers love their jobs and also happy.

According to earlier studies made, in order to increase profits one must simply increase productivity. This is easier said than done, but with the modern concepts and methods in motivation available, it has become as easy as counting.

Increase productivity can be made by proper motivation of the employees and the workers of a particular business. Some of the studies show that by simply creating a spacious, pleasant, and clean environment, the workers would be easily motivated in producing. Other studies suggest that by increasing the amount of light on the work floor, productivity would dramatically increase, and as a result to that, increase profits can be seen and felt by the owner of the business.

There are also other ways that employers have motivated their workers that have resulted to increase productivity, an example of this motivation tool is the reward system. The reward system gives the employees a reward for every goal that he attains while on the work floor. This method has been tried and tested and has created increase profits for the employer. There are more ingenious ways in order to properly motivate an employee to increase his production rate, all that the business owner or manager has to do is find that perfect motivation tool that would properly motivate the employee and wait for the increase in income.

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