Business Acumen for Entrepreneurs (MGMT90226)

Business acumen is the combination of the knowledge and understanding of the operational, resource, financial, and other functions of an enterprise and the ability to make good judgments and sound decisions relating to these in an enterprise context.

This subject provides a thorough understanding and market-focused approach to enterprises, as well as a comprehensive view of an enterprise and its inter-relationships. It will cover:

Finance Skills

• Reading Profit & Loss Statements and Balance Sheets
• Cash flow management

Risk management

• Concepts and tools
• Analytic and data skills

Stakeholder management aspects and approaches
Mini cases based on different types of enterprises and different situations

Business acumen entails an understanding of how the key drivers of the enterprise relate to each other, work together to produce profitable growth, and relate to the jobs performed by employees. It includes an understanding of company data, including financial statements; of how actions and decisions impact key company measures and the objectives of the company’s leadership; effective communication to employees, managers, executives, and the public. Those with business acumen have an acute perception of the dimensions of enterprise issues, can make sense out of complexity and an uncertain future, are mindful of the implications of a choice for all the affected parties, are decisive, and are flexible if further change is warranted in the future.