Question

BUSINESS ACUMEN: The ability to manage human, financial, and information resources strategically.

Explain the above statement with example

Answer 1

Business acumen can simple defined as a competency in which a human has speed and sense to deal with the real life business problems with ease. It is inbuilt ability of a human to manage all resources efficiently and effectively. This statement is very apt way to define and provide the meaning of the two word Business + acumen. Business as we know is a activity which is done by humans with the motive to earn monetary gains and acumen is simply an ability of a human mind to respond in particular situation, so if we add these two terms it becomes business acumen where a person if have an ability to manage his companies finances, human resources and information as per company needs than we call that person someone who has very high business acumen.   

For example, Warren buffet will be best person with whom everyone can relate that he has very high sense of business and therefore has very high and strong business acumen. He started his investment with just 100 US dollar but his current net worth is 82 billion US dollar. He has earned all this money by just taking small decisions and with his strong business sense.