Competency: Business Acumen
Understands Work Processes
- Applies the knowledge of work processes to influence the achievement of business goals
- Demonstrate sound commercial awareness
- Demonstrates an understanding of appropriate R&D, Area, and Market resources to utilize for specific needs
- Demonstrates an understanding of the hospital in its entirety and works to achieve results across disciplines, departments, and functions.
- Demonstrates knowledge of the healthcare market and delivery systems in which we operate
- Understands and applies business and financial principles.
- Understands and uses appropriate R&D & Area resources
- Understands complex issues and problems.
- Understands impacts of domestic & global market events & issues.
- Understands the "basics" as to how [Company] functions/operates.
- Understands the challenges facing [Company]
- Understands the costs, profits, markets, and added value of issues.
- Uses sound business judgement when making decisions.
Gathers Business Information
- Asks the 'right' questions to size up or evaluate situations.
- Considers business models from outside the organization to help drive the market's success using different approaches
- Keeps informed of current income and expenses.
- Keeps up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet)
- Keeps up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet) and shares this information with others
- Maintains currency with laws, regulations, policies, procedures, trends, and developments.
- Periodically assesses the current market environment.
- Seeks clarity when new directions, procedures, or programs are introduced
- Able to align resources to meet the business needs of the company.
- Can effectively interpret and analyze data.
- Effectively develops and uses resources (people, time, money, supplies, equipment, and space) to improve organizational performance
- Focuses on business strategies that will lead to success in the market place.
- Links personal goals to [Company] growth and productivity goals
- Maintains a focus on the 'bottom line' and profitability.
- Takes action based on knowledge of what [Company] must do to win the marketplace
- Weighs alternatives and selects practical solutions.
- Can effectively interpret and analyze market data.
- Anticipates marketplace opportunities and supports speed to market.
- Considers impact of actions on other areas of the organization.
- Explores new directions/approaches for accomplishing job objectives
- Identifies new business opportunities.
- Sees potential future business opportunities and challenges by keeping up to date with business/industry trends (e.g., 5-year forecast)
- Views problems from a business perspective, opportunity, investment, risks, and anticipated results
- Views problems as an opportunity.
Mission and Vision
- Able to align resources to meet the business needs of [Company].
- Considers external and internal environmental factors when providing advice and solutions to problems.
- Exhibits behavior that is consistent with the vision, mission, and core values of the organization
- Questions validity of company direction when it does not meet the needs of the Area
- Encourages Area team to keep up with industry changes; makes recommendations regarding recent business publications/resources
- Encourages team to share best practices, challenges, and concerns, to drive help innovation and consistent district improvement
- Informs market team of available resources to provide information/developmental contacts for team
- Shares district ideas/recommendations with the rest of the market to drive market progress
- Shares idea and methodologies with Area VP
- Shares recommendations and plans with R&D, focusing on adapting to changes early within own area
- Uses Company's communication tools (Email, Intranet, Social Media) to share ideas and best practices with others
- Acts decisively to a frequently changing and uncertain external market.
- Coach others to foster an environment which can adapt quickly and willingly to rapid change
- Identifies and acts promptly to take advantage of potential market opportunities
- Is a "change champion," even when change appears difficult or initially unfavorable
- Presents a smart and professional image
- Recognizes "change champions" early when new processes/programs are introduced and points these people out as role models for others to follow
- Recognizes constraints and works to remove barriers that may stand in the way of achieving organizational objectives
- Take prompt action when opportunities arise