Modern generation demands more entrepreneurial opportunities than a bureaucratic position to limit the interests and new thoughts.In a company, a manager seen as having general business acumen is one who consistently exercises sound judgment — the results of his decisions are most often favorable. Those he works with would say he has a quick mind that can assimilate information from many different sources and come up with sound strategic alternatives. He also has the quality of insight — being able to envision what the company should do now to bring about a more profitable, successful future.Managers who demonstrate strong general acumen have the opportunity to rise up through the ranks, sometimes all the way to CEO. Sound judgment is particularly critical for a CEO because her decisions affect everyone else in the organization. Someone who is seen as a “generalist” is often asked to take on high visibility roles such as leading a task force composed of managers from various departments that will deliver a report to the CEO or Board of Directors. An entrepreneur starting a company absolutely has to have the ability to manage all the functional areas of a business, because many times in the beginning he is on his own without other managers to support him. Entrepreneurs who are generalists with strong business acumen have an advantage over those with experience confined to a narrow business specialty.
One way a manager can develop acumen is to increase her knowledge base about how the company operates. Learning how to be a better listener can make this process easier. Take the time to cultivate relationships with individuals in other departments and learn more about their challenges and concerns. Ask to be copied on research reports developed by the various departments in the organization. An assistant controller could read reports about competitors’ activities generated by the marketing division. She should try to learn everything she can about the company’s products and operations. This knowledge will help her sharpen her decision making when she is asked to contribute to discussions about which products or marketing strategies should be funded. The keen insights she contributes will be noticed by those above her and improve her chance of being considered for promotions.
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