So, why does business acumen matter to an organization?
Well, I’d suggest that companies don’t improve performance simply because the CEO says that it should. It happens because individuals throughout the organization make really good business decisions. And that only happens when individuals throughout the organization understand how the company makes money. And in their role, they make the right kind of decisions. Decisions that are not only good for them and their department, but also good for the company.
Individuals want to know how they matter, how they make a difference, and how they fit in with their organization. In other words, they want that line of sight between their role and the decisions they make, and how it impacts an organization's results. So, people they want to matter, they want to fit in, and I’ve often thought this quote is really relevant around this idea: people work hard for a paycheck, harder for a person, and hardest for a purpose.
So, if you really want people’s hearts and minds, their innovation, their mindshare, then help them understand their role in the organization improving company results. It really gives them a sense of how they fit in, and how they matter to the organization.
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