For more information and an overview of our business acumen training, and business simulation competition and strategy for managers program, please see here.
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What competencies does the training focus upon?
- Business acumen
- Critical thinking
- Strategic thinking
- Strategic planning and analysis
- Quality decision-making
- Managing through systems
- Foundational financial acumen
- Risk Analysis
- Profitability/cost-effectiveness analysis
- Presentation skills
- Impact and Influence
What are the program components?
This will depend upon the organizational needs, budget, and logistical requirements. Our programs are malleable and thus, we have comprehensive change and development programs and bite-sized learning modules. Our customized business simulation and commercial acumen for managers development program have a variety of components including all or some of the following:
Capstone Projects - Real Work Business Projects
- Team driven work projects
- Facilitated group coaching
- Internally driven mentor/group feedback
- business case presentations
- Peer-to-peer feedback and accountability
- Competition Ala Shark Tank
- One-on-one coaching
- Strategic planning training
How are participants selected?
This depends on your organizational development needs.
One approach is to enroll all mid-level managers and/or high-potentials in a business acumen training program with 20 to 50 participants in each cohort group.
Other organizations, especially those who have promoted from within and have leaders with business acumen competency gaps, enroll both mid-level and senior-level leaders into the program, ensuring all managers participate over a set period of time.
If you have a succession planning process, then a best-practice approach includes enrolling all candidates identified for future leadership roles.
Some organizations choose to have each strategic business unit (SBU) or support office nominate participants based on its unit-specific strategy, goals, and current and future leadership needs.
Alternatively, larger organizations find that good, old-fashioned competition is fostered when an application to enroll in a "High-Po" training program is established.
What is the overall objective of the project teams?
The outcome of active learning with real-work projects is improved business acumen.
Business acumen is not a read-and-learn competency. Nor is it easily developed in a traditional training session. Understanding the inner-workings of business and finance, and being able to think strategically required practice. Thus, the goal is to combine learning and real work projects that will not only enable leaders to develop business acumen competency through hands-on practice, but also produce legitimate, strategic business solutions.
Are the projects assigned to specific teams or does the team get to select their project?
Cross-functional groups are formed with a consideration of participant's strengths and weaknesses while ensuring representation from the various business areas. Some organizations assign projects randomly while other companies predetermine assignments. Programs may also be structured to invite participants to formulate teams and co-design their project with coaching/mentoring support.
How is the project outline approved?
Typically, key stakeholders (executive team or board, for example) will identify high-level projects, provide outlines of the challenges and strategic goals.
The details of which will be further refined by the project teams. Each team will have the opportunity to receive feedback from an assigned more senior leader who serves as the mentor. When mentors are not available, an external business consultant or subject matter expert, maybe optioned.
How are the teams determined?
Ideally, each team includes at least one team-mate from each functional business area.
What are the components of your most effective business acumen development program?
- Multi-day training sessions (i.e two + 2-day sessions)
- Capstone projects
- Group coaching over a period of six to twelve months
- Internal mentors
- Subject matters experts
- Internally selected real-work projects
- Board and executive team presentations (think Shark Tank)
- Program management and objective oversight
- Post-program, coaching and consulting for projects identified for implementation.
What's the time frame?
For our Leadership Development Programs, the time-frame depends on which programs are selected and the logistical restrictions. A best-practice approach is to consider six months for phase 1 (Leading Self) and phase 2 (Leading Others), and 12 to 18 months for phase 3 (Leading in Business).
How is the curriculum designed?
Active - Learning approach - Co-Designed with Your Talent Development Team or Designated Key-Stakeholder
Our aim is to work with your talent development team to provide as much or as little consulting, training, and curriculum design, as required to ensure an effective and engaging program. We will also provide guidance on design elements, as needed, to ensure maximum learning retention, competency development, and cultural change, upon request.
We will customize each workshop to fully employ the best-practices in adult learning theory.
Depending upon the goals and budget, the curriculum for the program you select may be customized to include:
- Key stakeholder input
- Company values
- Integration of internal assessments and internal subject matter experts such as HR/Safety protocols, etc.
- Industry jargon can be assimilated into the material
- Role-playing and simulations will be co-developed to be relevant to the industry and your culture
- Select competencies from our Al a Carte Training Topics curriculum may be incorporated, upon request.
Have other questions? Contact us!
What makes us the Business Acumen Training & Business Simulation Competition Experts?
TurnKey Coaching & Development Solutions (founded in 2004), has experienced management consultants, executive coaches and master trainers in every major metropolitan area in the USA and key hubs globally.
Through a single-point-of-contact, we provide full-service, LSO (learning services outsourcing) and make your employee development goals easier to obtain. From instructional design to implementing best-practices, to recommending strategic revisions, our clients tell us that we take the pain out of managing employee development programs. Our “turnkey” processes and objective oversight eliminate initiative overload and help your team to refocus on the business of the business instead of managing vendors.
Our on-site/off-site employee development programs are tailored enough to be relevant and meaningful to your industry while leveraging our off-the-shelf curriculum for an affordable and effective solution. We employ adult-learning best-practices and our proven curriculum, coupled with key-stakeholder interviews, your strategic goals, and industry research, for a unique and practical training and development program.
- Level & budget appropriate Coaching Programs including executive, mid-level, global leadership, HiPos, and Performance Improvement programs
- Training Programs: 400+ topics
- High-Potential Development Programs: Including Comprehensive Leadership University and Succession Planning components
- Assessments: Psychometric Assessments, 360 feedback (qualitative and quantitative) and Hiring Assessments
- Engagement, HR & Culture Surveys such as the Leadership Circle Culture Survey
- Strategic Planning Consulting & Retreats: data-driven strategic analysis and planning programs
- Organizational Development Consulting Services
- Capstone Projects: business strategy simulations and business simulation competition
Disclaimer: Shark-Tank-Like* We are not associated in any way with the television show. We think it’s an awesome show and use the verbiage “shark-tank-Like” because it accurately describes how our final capstone, business simulation competition, and business strategy simulation presentations are experienced by our clients. SHARK TANK is a trademark of Sony Pictures Television Inc. and is not associated in any way with this company or program.