
Simply put, business acumen is understanding how your company makes money and achieves its goals and objectives. However,โฏit is fundamental to be aware of how external factors within your industry can alsoโฏhave an effect onโฏyour company and its mission.โฏ
Thereโฏareโฏseveralโฏways you can build and demonstrate this skill:โฏ
Know yourโฏcompany's vision andโฏhow your roleโฏwill feed into reaching this goal.โฏโฏ
Have anโฏawareness of the stocks andโฏshares of yourโฏcompanyโฏand theirโฏcompetitors.
Aโฏcore understandingโฏof yourโฏbusiness functions i.e.โฏsales, marketing, operations, logistics, HR, Financeโฏ
Identify issues within the sector, could these have an impact on yourโฏcompanyโฏand can you help them overcome these issues?โฏ
Publications such as The Engineer, Professional Engineering Magazine (imeche) and CIN Magazine can be used to help you build your awareness of any external factors that could impact the industrial and engineering sector and your company.โฏ
Advice from LVI Associates:
Ourโฏrecruiters areโฏoftenโฏsharing a lot of market update and insights on their social media platforms, orโฏyou canโฏtalk toโฏone of our consultantsโฏwho canโฏshareโฏupdatesโฏwith youโฏdirectly.

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