Behavioral Competencies - Business Flashcards
What is Business Acumen?
Business Sense - Ability to identify, understand, and resolve situations that will result in a positive outcome.
What are the 3 A’s of the Awareness Triangle?
- Aware
- Analysis
- Action
What is Design Thinking?
A strategic process used to navigate a new solution or process.
What are the 5 steps of Design Thinking?
- Empathize
- Define
- Ideate
- Prototype
- Test
What are the 4 steps of Change Management?
- Identify the need for change
- Define the change and prepare for it
- Create, implement, and manage the change
- Evaluate, sustain, and reinforce the change.
Define Critical Evaluation.
The process of reviewing a process with an unbiased mindset.
Define Data Gathering.
Collecting and assembling information.
What are physical resources?
Brick-and-mortar locations
What are financial resources?
Annual reports, cash flow, revenue statements, etc… that provide financial overview of the organization.
What are human resources?
Employees of the organization
What are organizational resources?
policy, processes, programs, workforce skills and abilities.
What is PESTLE?
Trends in variables that influence decisions an organization makes.
What does PESTLE stand for?
Political, Economic, Social, Technological, Legal, Environmental
What is business analysis?
Strategic practice focused on an organization’s functions, processes, methods, procedures, and performance to identify issues, create and implement solutions and monitor the results of actions.
What is a cost-benefit analysis?
Reviews costs and benefits to determine if the benefits are greater than the costs.
