Definitions for business acumen
This page provides all possible meanings and translations of the word business acumen
Business acumen is keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome. The term "business acumen" can be broken down literally as a composite of its two component words: Business literacy is defined in SHRM's Business Literacy Glossary as "the knowledge and understanding of the financial, accounting, marketing and operational functions of an organization." The Oxford English Dictionary defines acumen as "the ability to make good judgments and quick decisions". Given these textbook definitions, a strictly literal definition would be "keenness and quickness in understanding and dealing with a business situation." Additionally, business acumen has emerged as a vehicle for improving financial performance and leadership development. Consequently, several different types of strategies have developed around improving business acumen.
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"business acumen." Definitions.net. STANDS4 LLC, 2014. Web. 12 Mar. 2014. <http://www.definitions.net/definition/business acumen>.