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Did you know?

Research carried out by the Perth Leadership Institute in 2008 found there to be no correlation between
high levels of intelligence (measured by IQ) and business acumen. It also revealed that having a business
education is unrelated to level of business acumen. Or, in some cases, can lead to worse-than-average
performance if a person overestimates their business know-how. It turns out that developing true
business insight is mostly about absorbing and understanding what’s around you—your industry, your
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organization, your customers, your competitors.

Tips to develop Business insight
1. Need to be better informed? Read more. As well as business books, pick up publications such as
Fast Company, Harvard Business Review, The Wall Street Journal, Bloomberg Businessweek,
Forbes, Fortune, or Inc. magazine. Pay attention to business social media and blogs. Read across a
range of topics: marketing, finance, customer service. Focus on content that will educate you about
your industry and the business environment as a whole. Look for information on new and emergent
thinking. Interpret what you read into information that is relevant for you. Make notes on why and how
it may be useful. Subscribe to Soundview Executive Book Summaries. They summarize in a few
pages all the major business books that are on the best-seller lists.

2. Not up to speed? Watch the right sources. Watch the news and business channels. They often
have interviews with business leaders and reviews by industry experts, as well as general reviews of
companies. Watch online business presentations and TED Talks. Begin to watch one or two
programs a week until you can zero in on what you specifically need to know.

3. Baffled by buzzwords? Learn the lingo. Listen for and learn the meaning of common business
terms, acronyms, and abbreviations. Like the accounting term EBITDA, which is actually an acronym
but most business people say it as a noun. Ask for more information when you hear something you
are not familiar with. Figure out the settings where the use of jargon is helpful or where straight talk
will get the message across better. For your message to be engaging and have impact, it needs to be
understood.

Want to learn more? Take a deep dive…
Perrine, J. (2011, April 23). Developing your business acumen: You must read to succeed. All
Things Admin.

Zezima, K. (2010, January 6). A program helps sharpen the business acumen of those on the rise.
The New York Times.

4. Need access to expertise? Join a professional industry network or association. Join the
professional networks or associations for your industry. Join one of their special interest groups to get
a close-in look. Sign up for newsletters and publications. Attend conferences and seminars. Connect
with the people you meet. Share ideas. Join business-related communities using social media. Not
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