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  3. Business Acumen for Entrepreneurs

Business Acumen for Entrepreneurs (MGMT90226)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelGraduate coursework
Subject codeMGMT90226
Campus
Parkville
Availability
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

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.

Intended learning outcomes

On successful completion of this subject, students should be able to:

  • present an enterprise overview to investors, including key assumptions;
  • present financial information to investors;
  • discuss core financial and commercial processes required by entrepreneurs;
  • apply business acumen skills – sound judgement – in review of business cases, and to the pop-up project;
  • demonstrate an understanding of how to operate within the legal framework for corporations.

Generic skills

High level of development:

  • Problem-solving skills
  • Think critically, and organise knowledge
  • Creative ways of solving unfamiliar problems

Moderate level of development:

  • Adoption of new ideas
  • Communication skills
  • Presentation skills

Last updated: 9 November 2018