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Factor I: Thought
Cluster A: Understanding the business
Competency 5: Business insight
5. Business insight

Applying knowledge of business and the marketplace to advance the
organization’s goals.

You gotta know the territory! Nothing beats knowing what’s going on, and it can be essential to
developing credibility. This means people developing insight through two routes. First, they pay attention
to their own industry. Build expertise in their functional discipline. Understand how the departments and
drivers of their organization relate to and work with each other. Understand the agenda, issues, and
concerns of the people they work with inside their organization. See things as others do. Walk a mile in
their shoes. Second, they look outside. Learn about their competition and customers. Identify trends. Spot
potential opportunities and threats that could come their way. When you know what’s going on, you can
maximize your contribution. Be better able to put forward ideas and suggestions that pass the business
practicality test. Make it your business to learn about the business.

“Business, more than any other occupation,
is a continual dealing with the future;
it is a continual calculation,
an instinctive exercise in foresight.”

Henry R. Luce – American media mogul

Business insight is in the Thought factor (I) in the Korn Ferry Leadership Architect™. It is part
of Cluster A, Understanding the business, along with Customer focus (11), Financial acumen
(17), and Tech savvy (35). You may find it helpful to also take a look at some of the tips included
in those chapters to supplement your learning.

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