Leverage Business Acumen and Financial Literacy

Organizations are complex ecosystems that are in constant flux. Often, leaders make critical decisions for their portfolio in silos, without considering the broader repercussions in the organization. Leaders need to understand the interconnections between their portfolio and other functional areas across the organization.

Additionally, leaders sometimes lack confidence in analyzing key financial metrics or technical information and using this knowledge to make decisions and inform others. Strong business acumen pairs together industry expertise with the processes and priorities across the organization. By understanding the intersection of these elements, it allows a leader of leaders make complex decisions in an informed way and position their proposals in a lens that resonates with various key players. So, how can leaders be equipped with the knowledge to make sound decisions in their strategic planning and execution?

Leaders can embed the five lenses of business acumen (financial literacy, shared language, organizational strategy, external factors, and interdepartmental collaboration), to inform their decision making to drive organizational outcomes. Each lens represents a unique element to analyze and inform decision making and communication. To enable this important work, HR needs tangible solutions, sample phrasing, and examples of how busy leaders can develop and apply their business acumen into their daily work.

Our Advice

Critical Insight

Support leaders in analyzing their challenges through different lenses of business acumen (financial literacy, shared language, organizational strategy, external factors, and interdepartmental collaboration) to inform decision making and improve organizational outcomes.

Impact and Result

• Use this learning resource to help leaders of leaders make informed decisions in their planning and execution of projects.
• Communicate in organization-specific language and leverage an understanding of organization and industry-specific terminology to connect with and influence key players.
• Apply relevant financial metrics in the development and communication of business cases. Present holistic business cases to leaders for portfolio projects and services.
• Extend and leverage your leaders’ business acumen by enabling them to coach their direct reports to develop their own business acumen.