Business Acumen Training & Strategy for Managers in Boston, MA

How does it work?

Our Leading in Business Training focuses on Business Acumen Skills through experiential learning opportunities (better than business simulation training), customized cohort work projects, the collaboration between peers and mentors, business case development and capstone project presentations (a la Shark Tank presentations).

Note: Our programs are facilitated on or off-site for organizations. We do not offer public seminars at this time. While we have speakers and trainers that are available to facilitate and speak at public engagements, we do not offer public seminars.

Objectives

The learning objectives for the program include:

Organizational

• Strategic human resource development
• Align development with the Mission, Vision, and Values
• Increased competency
• Business competency development designed to impact the bottom-line
• Team projects with tangible strategic impact on the business
• Direct observational opportunities between executives, board members, and high-potential employees in support of future leader identification and succession planning
• Development aligned with strategic priorities

At the Cohort Level

• Encourage participants to routinize the sharing of best management practices
• Expose leaders to cross-functional problem solving with minimal risk to the business
• Build alliances across functions that can develop into concrete linkages for future collaboration
• Healthy competition and collaboration, a la “Shark Tank” type challenge and capstone projects

At the Individual Level

The program delivers a business simulation experience with real-work projects for a holistic and immersive, active-learning program. Participant learning objectives include:

• Develop strategic and critical thinking skills
• Develop quality decision-making skills
• Learn how to make a business case
• Gain an understanding of all areas of a business’ operations
• Ensure foundational confidence in financial analysis competency
• Comprehend the importance of strategic agility
• Build financial acumen and budgeting skills
• Develop the ability to ask questions that generate new thinking and solutions
• Set effective team goals
• Practice negotiation and influence skills
• Develop insight into the interconnectedness of business functions and operations
• Collaborate with their team to establish plans
• Presentation skills development
• Evaluate and Improve work processes
• Align organizational systems
• Engage in systems thinking and a continuous improvement focus
• Develop risk management skills
• Understand the builder mindset vs. the protector mindset

Generally speaking, business acumen is demonstrated through an understanding of how an organization makes money, manages risks, stays relevant, and comprehends the systems of the business. This includes adapting to internal and external business factors and demonstrating critical thinking and quality decision-making skills. Business Acumen is comprised of many, complex competencies, including understanding the numerous facets of the organization and the economic, competitive, regulatory and even political factors that may impact the company's ability to achieve its goals. Skills associated with business acumen are critical thinking skills, strategic thinking, financial intelligence, the ability to analyze and make a business case, and insightful knowledge of the industry, and competitive landscape.

Business acumen training, especially through business case building & business simulation, hones the thinking and analysis skills required to create a sound, efficient business environment. Developing thinking skills will complement a leader's business sense. Strategic thinking is the capacity to see the big picture and analyze solutions prior to barking orders and certainly before making sweeping changes. A competent leader is able to adapt to changing trends and competition whilst maintaining the organization's strategic priorities.

Executives with a strong business sense and heightened strategic thinking have the necessary tools to shape powerful strategies to ensure organizational growth. Enhancing business acumen and strategic thinking enables leaders to more deliberately hire the right employees, ensure the right strategies are deployed and be nimble enough to modify priorities when the changing dynamics of the business dictate it.

Developing a leader's business sense includes training to develop financial acumen. As a leader, it is imperative to understand what drives profits and cash flow. When a leader learns how to monitor financial indicators like profit margin, cost-analysis, sales metrics, COGS, etc. they are more empowered to think strategically and critically about the business and thus will be more likely to contribute to organizational success. However, most leaders would never admit they get lost in the financial reports and feign competency at best, and ignore them at worst.

The expectation is that a qualified leader knows how to analyze the business metrics, and is competent in managing resources, assessing risks, and improving organizational processes. Unfortunately, most organizations have a finite number of leaders that truly understand the financial metrics. This results in a constant struggle between your protectors (Finance / HR) and your builders (sales/operations/marketing etc.)

Financial literacy enables leaders, at any level, to better understand the decisions made or advocate for a better plan. Financial savvy fosters buy-in, engagement, and more effective and efficient decisions at the bottom; decisions that ultimately drive towards your profitability and/or cost-management goals.

On the other hand, the lack of financial skills inevitably leads to wasted resources, poor decisions, improper implementation of objectives and lost opportunities.