‘Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1.’ That’s business magnate Warren Buffett talking. He should know. He’s the world’s 10th richest man with a net worth of over $100.9 billion.
Intelligence and drive are great qualities to have, but successful professionals also need to be business savvy and have commercial awareness. After all, the best product or service idea in the world is worth nothing if you don’t know how to monetize it.
Commercial Acumen will teach you to make astute financial decisions with confidence to better manage your resources and add value to any business.
Thrive Skills are an essential set of cognitive, social and behavioral skills to enable our learners to continuously succeed, at every stage of their career.
The meaning of Commercial Acumen is having the ability to manage finances and resources in a way that drives value. Running a business, building a career and making it in the world of work requires a strong Commercial Acumen.
In a professional’s career, there are times when they need to tackle problems head-on. This is when they need commercial acumen skills to make or break it. Problem-solving is the biggest advantage of building Commercial Acumen. It also guarantees long-term success because it equips professionals with the ability to be confident, speak their minds and connect with others.
Some examples of Commercial Acumen are public speaking skills that engage audiences, building connections in a professional environment, being business savvy to achieve business goals, looking at the big-picture while developing growth strategies and making robust financial decisions.
One can develop Commercial Acumen by keeping up with trends, building a professional network, understanding technology, enhancing technical know-how and collaborating with others.
Harappa programs that focus on Commercial Acumen as a Thrive Skill are the High Performing Leaders Program and Impactful Sales Program.
Other Thrive Skills under COLLABORATE are Being Dependable, Win-Win Negotiation, Creating Alignment, Decoding Ambiguity and Embracing Feedback.