Simply put, business acumen is understanding how your company makes money and achieves its goals and objectives. However, it is fundamental to be aware of how external factors within your industry can also have an effect on your company and its mission.
There are several ways you can build and demonstrate this skill:
Know your company's vision and how your role will feed into reaching this goal.
Have an awareness of the stocks and shares of your company and their competitors.
A core understanding of your business functions i.e. sales, marketing, operations, logistics, HR, Finance
Identify issues within the sector, could these have an impact on your company and can you help them overcome these issues?
Publications such as International Renewable Energy Agency (IRENA), Power Insider Magazine Asia and Construction Plus Asia can be used to help you build your awareness of any external factors that could impact the industrial and engineering sector and your company.
Advice from LVI Associates:
Our recruiters are often sharing a lot of market update and insights on their social media platforms, or you can talk to one of our consultants who can share updates with you directly.
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