Business Acumen
Competency Title:
Business Acumen
Competency Type:
Behavioural
Competency Description
This competency refers to the ability to understand the business implications of opportunities and decisions and to improve organisational performance. The scope includes consideration of business issues, processes and outcomes as they impact the business.
Level 1 - Awareness
Level 1
• Identify organisational goals and strategies.
• Recognise business functions within the broader organisational context.
• Recognise individual and team contributions towards business success.
Level 2 - Knowledge
Level 2
• Seek information to understand specific business issues
• Act in accordance with established business goals
• Identify the required contributions towards the attainment of business goals.
Level 3 - Skill
Level 3
• Analyse the business issues and identify appropriate actions.
• Develop plans that take into account longer-term activities, issues, problems or opportunities.
• Develop work plans that are aligned to the identified business goals.
Level 4 - Mastery
Level 4
• Formulate strategic plans by anticipating challenges and their implications to the business.
• Review business plans against the long-term goals of the business.
• Review current business policies, processes, and methods that might be affected by future developments and trends.
Level 5 - Expert
Level 5
• Communicate to key stakeholders the business implications of the proposed strategic direction.
• Evaluate business plans against the strategic business mandate.
• Re-position the business strategy according to the business environment.