Building Business Acumen on your Teams:
One of the primary questions we're asked is how managers can help to build business acumen for their team members - and the answer is more simple than you may think!
If you're a manager, it's essential that you help your team to understand:
1. Where the company is going?
2. How the company makes money?
3. What each individual team member does that will contribute to these areas?
This will allow you to bring meaning to your team members, and the day-to-day responsibilities that they have, the tasks you have for them, and the ability to see how these things will impact the bigger, longer-term success of the company.
By accomplishing this, you as a manager will have your team’s engagement, have your team’s excitement about what they do every day and what fits.
The reality is, everyone is looking for meaning in what they do every day.
You as a manager can build that linkage point between the day-to-day responsibilities of your employees, and not only how the company is doing now, but how it’s helping the company succeed in the future.
If you're wondering...
How do I as a manager assess the business acumen of my team?
Well, there are a few things you want to be looking for as a manager to assess the business acumen of the team.
1. When team members are making recommendations to you as a manager are they doing it through the lens of where the company is trying to go?
2. When they’re communicating, are they using some of the most important metrics that the company looks at, talks about, and measures itself against?
Business Acumen Metrics of Success:
If the company is succeeding on certain metrics, but then their day-to-day responsibilities are not linked to some of the most important metrics of the company, you have a real opportunity as a manager. Your responsibility is to help to bridge those two worlds together with the success metrics of the company, and what your employees do every day that impacts those success metrics.
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