Business acumen training is increasingly important, especially for non-finance employees, who need to understand the principles of value creation. Research shows that numerical thinking is a significant predictor of managers’ career potential (Source: University of Toronto, 2005).
Business acumen training in high-potential future leaders broadens their functional knowledge to include a strong financial compass. This holistic understanding of the company’s business assists them when executing the vision.
The business acumen training program should include:
1. Managers meeting with participants before the program to review the company’s expectations
2. Discussions re: recommended changes in knowledge, skills and behavior
3. Investment in participants attending program
4. Participant debrief immediately following the program
5. Post-program action plan to realize expectations
6. Periodic follow up on changes to knowledge, skills and behavior
Does your company develop business acumen for non-finance employees?
