Jul 14, 2022
In Self Help Forum
Ultimately, every action taken and every decision made in any of Job Function Email List these areas will impact sales, profit or cash. When Job Function Email List managers and employees begin thinking like owners, they, too, look at the big picture, understand how all the pieces Job Function Email List fit together, and assess risks and rewards. They understand, like Job Function Email List an owner, how the company makes money, how it stays in business and how they contribute to its success. The benefits to an organization of engaging managers and employees in this kind of ownership thinking are obvious. So how can a company develop the business Job Function Email List acumen of its people? Developing Business Acumen: Two Stories Entrepreneurs are generally forced to develop Job Function Email List business acumen on their own. They are hands-on with their businesses and have to make all the decisions as they go along, whether good or bad. They Job Function Email List either learn from their mistakes or fail. It's very different for managers and employees in an organization. They Job Function Email List aren't involved in all aspects of the business, and they make decisions primarily within their own areas of responsibility. Since seeing the connections isn't easy, Job Function Email List they need to learn in some other way. Books and lectures can help. But business acumen is best developed experientially. Learners must be able to analyze situations, ask questions, discuss issues with other learners, Job Function Email List consider options, make mistakes and see results. Although there are a variety of ways to accomplish this kind of experiential learning, many companies have found that simulations, which mirror reality and allow learners to experiment in a safe environment, are one of Job Function Email List the best ways. Here are the stories of two companies who chose to educate their learners with business simulations.