Business acumen is an intuitive, in-depth practicable understanding of how a business works and how it creates value.
Business acumen (described as competence) results in a faster and more efficient business decision-making, quicker and more accurate risk assessment, and the resolution of diverse business situations.
Business acumen is the emergence of functional inventiveness, i.e., intuitive understanding of the individual functional business areas: finance acumen, marketing acumen, strategy acumen, etc.
Understanding a business is a prerequisite for business acumen, which is critical to the effective implementation of the strategy. If there’s a lack of understanding, the company’s strategy implementation becomes more complicated.
Cesim’s use of business simulations increases the participants’ understanding about various functional areas of business (production, logistics, marketing, finance, etc.). Advanced methodology makes it more effective than traditional seminars and provides experience without real-life financial losses.