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Business Acumen Comments

The statements below can be used in your self-assessment (self-feedback) or performance appraisal as examples to demonstrate your "business acumen". Your knowledge about working in the business world enables you to gather information efficiently and create a forward thinking vision for the future. Sharing information helps you to make an impact. Having knowledge about finances, the market, and regulatory environment helps you to make good decisions.



Understands Business Enterprise

• I applied the knowledge of work processes to influence the achievement of business goals
• I understood and apply business and financial principles.
• I involved key stakeholders (employees, customers, investors, partners) in the planning process to gain diverse perspectives and buy-in.
• Understands business fundamentals and practices.
• I understood the challenges facing [Company]
• I demonstrated an understanding of appropriate R&D, Area, and Market resources to utilize for specific needs
• I demonstrated an understanding of the hospital in its entirety and works to achieve results across disciplines, departments, and functions.
• I used sound business judgement when making decisions.
• I demonstrated knowledge of the healthcare market and delivery systems in which we operate
• I understood the "basics" as to how [Company] functions/operates.
• I understood and use appropriate R&D and Area resources
• I demonstrated sound commercial awareness

Gathers Business Information

• Asked the 'right' questions to size up or evaluate situations.
• I kept informed of current income and expenses.
• I gathered essential customer data to align our products with their expectations.
• I conducted thorough market research to understand industry trends, customer needs, and competitive landscapes.
• I collected valuable customer insights to ensure our services met their needs.
• I gathered important information from customers to make sure our products are relevant and useful.
• I sought to better understand other areas of the company, including their operations, personnel, and output.
• I sought clarity when new directions, procedures, or programs are introduced
• I kept up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet)
• I kept up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet) and share this information with others
• I considered business models from outside the organization to help drive the market's success using different approaches

Thinking Strategically

• I developed strategic plans to promote business and organizational strengths.
• I engaged in strategic alliances with valued partners.
• I created unique strategies that impacted the Company.
• I implemented long-term strategic solutions to critical problems.
• I anticipated business cycles and trends and made strategic adjustments in a timely manner.
• I understood how strategic decisions impacted constituents within the Company.
• I met with customers to gain insight into their core needs and how to strategically serve them.
• I formulated business strategies for addressing the Company's important needs.

Working Efficiently

• I aligned resources to meet the business needs of the company.
• I effectively developed and used resources (people, time, money, supplies, equipment, and space) to improve organizational performance
• I established key performance indicators (KPIs) to measure progress and success.
• I maintained a focus on the 'bottom line' and profitability.
• I focused on business strategies that will lead to success in the market place.
• I linked personal goals to [Company] growth and productivity goals
• I weighed alternatives and select practical solutions.
• I took action based on knowledge of what [Company] must do to win the marketplace

Forward Thinking

• I considered impact of actions on other areas of the organization.
• I identified new business opportunities.
• I considered environmental, social, and governance (ESG) factors to ensure the business is sustainable in the long run.
• I viewed problems from a business perspective, opportunity, investment, risks, and anticipated results
• I developed business plans that are forward looking.
• I explored new directions/approaches for accomplishing job objectives
• I see potential future business opportunities and challenges by keeping up to date with business/industry trends (e.g., 5-year forecast)
• I viewed problems as an opportunity.

Mission and Vision

• I exhibited behavior that is consistent with the vision, mission, and core values of the organization
• I created robust talent development programs through the identification of key skills gaps and future needs ensuring the company was able to meet its mission and vision.
• I have a good understanding of business operations to more effectively align company services to meet the needs of its customers.
• I established clear, long-term objectives that align with the company's vision and mission.
• I was adept at recognizing new opportunities and fostering a culture of innovation ensuring the organization stays ahead of industry trends and continues to evolve.
• I aligned resources to meet the business needs of [company].
• I question validity of company direction when it does not meet the needs of the Area
• I considered external and internal environmental factors when providing advice and solutions to problems.

Information Sharing

• I ensured employees had easy access to relevant information.
• I shared information among teams and departments.
• I assisted others in better understanding the company's operations, goals, and strategic challenges.
• I facilitated creativity and innovation in individuals by helping them understand different aspects of the business.
• I shared information on best practices to facilitate business workflows and operations during times of transition and changes in personnel.
• I used Company's communication tools (Email, Intranet, Social Media) to share ideas and best practices with others
• I informed market team of available resources to provide information/developmental contacts for team
• I shared district ideas/recommendations with the rest of the market to drive market progress
• I shared recommendations and plans with R&D, focusing on adapting to changes early within own area.
• I encouraged team to share best practices, challenges, and concerns, to drive help innovation and consistent district improvement
• I shared idea and methodologies with Area VP.
• I encouraged Area team to keep up with industry changes; makes recommendations regarding recent business publications/resources

Impactful

• I incorporated innovative approaches and being adaptable to change.
• I coached others to foster an environment which can adapt quickly and willingly to rapid change
• I am a "change champion," even when change appears difficult or initially unfavorable
• I identified and acts promptly to take advantage of potential market opportunities
• I recognized constraints and work to remove barriers that may stand in the way of achieving organizational objectives
• I presented a smart and professional image
• I took prompt action when opportunities arise
• I acted decisively to a frequently changing and uncertain external market.
• I recognized "change champions" early when new processes/programs are introduced and points these people out as role models for others to follow

Supporting the Customer

• I conversed with customers and clients to get a better insight into their business needs.
• I anticipated customer's business needs.
• I effectively troubleshoot customer business issues.
• I recognized the individual needs of customers.
• I provided a high level of business services to customers.
• I responded quickly to customer business inquiries.
• I understood the critical business needs of the customer.
• I thoroughly understood the business needs of the customer.

Financial Literacy

• I understood the financial metrics used by the department.
• I understood the financial metrics used by the company.
• I calculated return on investment (ROI) for various business projects.
• I understood various asset classes and interpreted balance sheets.
• I have a good understanding of liabilities and assets.
• I understood cash flow procedures and statements.
• I correctly assessed current/estimated valuations.
• I possessed a clear grasp of the company's financial indicators.
• I understood financial terminology, statements.
• I understood the costs, profits, markets, and added value of issues.
• I used financial information to make an impact on the organization.

Managing Risk

• I used risk management to make more effective business decisions.
• I prioritized risks based on an understanding of their possible impact to the company.
• I analyzed current business practices to make better informed decisions.
• I evaluated risks in terms of their business impact and likelihood of occurrence.
• I anticipated the consequences to the business of different potential risk events.
• I accurately perceived potential risks to the business.
• I rewarded risky ideas that may yield significant benefits to the business.
• I recognized the potential business impact of specific risks.
• I created a risk management strategy to meet the business needs of the organization.

Analytical

• I understood complex issues and problems.
• I based decisions on business data rather than on intuition or hunches.
• Interpreted and analyzed market data.
• I interpreted data to make informed business decisions.
• I deciphered complex data making it easier to generate new insights.
• I fostered a critical analysis of events and issues.
• I looked at business problems from a variety of perspectives.
• Interpreted and analyzed data.
• I recognized patterns and trends in the business.
• Described and summarized data.
• I recognized trends in underlying data.

Managing Change

• Assisted others in understanding business changes.
• I facilitated others in the development and implementation of changes to business operations.
• I sponsored and promoted business efficiency changes.
• I worked cooperatively with others to implement business changes.
• I was able to get department employees to accept new business workflows.
• I facilitated business change with minimal resistance.

Market Awareness

• I understood impacts of domestic & global market events & issues.
• I understood consumer behaviors and how they may changed.
• I understood our competitors strengths and weaknesses.
• I understood the dynamics of our industry.
• I peiodically assessed the current market environment.
• I anticipated marketplace opportunities and supports speed to market.

Regulatory Knowledge

• I am up-to-date with regulatory guidelines and policies.
• I identified potential regulatory risks and strategies to mitigate them.
• I maintained currency with laws, regulations, policies, procedures, trends, and developments.
• I created strategic plans that conformed with regulations and industry guidelines.
• I am aware of regulations that impact our business.

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