Business Acumen

Question 1

Financial literacy

Answer 1

The possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources

Question 2

Organizational knowledge

Answer 2

A management idea describing an organization in which people use systems and processes to generate, transform, manage, use, and transfer knowledge-based products and services to achieve organizational goals

Question 3

Ability to deal with ambiguity

Answer 3

Can effectively cope with change, shift gears comfortably, decide and act without having the total picture, and handle risk and uncertainty

Question 4

Ability to link cause and effect

Answer 4

Allows us to make inferences and reason about things that happen around us

Question 5

Self awareness

Answer 5

Conscious knowledge of one’s own character, feelings, motives, desires

Question 6

Stake holder awareness

Answer 6

Awareness of how investors, employees, customers, suppliers and he wider community perceive the organisation, their priorities and needs, and their potential impact on its activities.

Question 7

Contextual knowledge

Answer 7

Knowledge that does not intervene directly in the decision making process but constrains it.