Advanced Business Acumen is increasingly found to be a key differentiating skill when comparing those successful companies which thrive despite changing business environments, and those companies which continue to struggle to keep up and remain competitive. Modern business issues cannot be resolved by knowledge alone – they require insight and the innate ability to translate knowledge into solutions, operational tactics and actions.
Business Acumen is an acquired skill, one that will take you down the road of understanding the bigger picture, understanding how the changing market environment influences your product and services offering and which includes the necessary financial acumen to pull everything together in a sustainable manner.
As the learning process in acquiring Business Acumen is often steep even for experienced business managers, the transfer of learning to the work-environment is therefore crucial and the TTM ComSIM Business Acumen programme allows for this to happen even before the participant returns to his/her normal work activities.
The TTM ComSIM Business Acumen programme follows an experiential learning process with immediate application through an applied business simulation. The simulation allows participants to discover in a practical manner, how decisions in all functional areas of an organisation influence each other and how these impact on the overall profitability of the organisation. This reinforces the understanding of the key drivers for business success.
Integrated into the simulation is the Business Thinking and Leadership Styles (BTLS) and Herrmann Thinking Styles© (HBDI) toolsets. The BTLS was designed as a workplace thinking styles profile in professional development (although it will have personal value as well of course). It is therefore very useful to not only understand one’s personal thinking preferences but it is empowering when dealing with innovation in the workplace and also to understand how you will naturally approach coaching of individuals and leadership within your teams. Although BTLS can easily be used in isolation, the power of BTLS lies in a combination of leadership interventions to build on different themes.
The TTM ComSIM Business Acumen Simulation provides powerful and integrated learning methods to fast-track all functional leaders, advancing their business acumen skills through this international-grade experiential learning programme.
The flexible simulation format will allow your managers / supervisors to focus outcomes on strategic levels (i.e. understanding the bigger picture or understanding the implications of changing market environments, turn-around strategies etc) and to focus on key skills such as improving your financial acumen, (including business finance for non-financial managers), the business case for business improvement, the importance of performance management (BSC), value based selling and leadership integration.
Step 1: Data Collection Phase – The Required Competencies and the Organisational Strategy
TTM ComSIM© Business Acumen Simulation is ideal as a high impact introduction to Advanced Business Acumen through integrated business management and leadership. The TTM ComSIM© Business Acumen process emphasises the importance of linking business knowledge to understanding the bigger picture and changing market environments, to sound decision-making, inter-personal skills and leadership skills.
The flexibility of the TTM ComSIM Business Acumen simulation allows for a combination of the following competencies to be addressed. Although all categories of competencies are always used within the simulation, the flexibility of the process is such that up or downscaling of individual items within the following categories is possible.
The following is an example of the relative importance of competency areas (indicated by a ‘+, or ‘-‘) for a specific role profile:
The relative importance of the various competence areas can easily be scaled for different participant profiles (role profiles) and experience.
Step 2: Customisation Phase
In this step TTM associates will integrate your company strategy with required outcomes so as to best position the required skills and behaviours of your target population. The instructional design principles underscore theTTM ComSIM Business Acumen process and clearly identify defined learning objectives in each module, the flow of which are linked in a progressive manner to the overall programme objectives, work experience of participants and organisational requirements.
The TTM ComSIM Business Acumen process follows a well researched, logical flow in the decision-making process of managing a business – this not only resembles real-life situations but allows for participants to draw on their own personal experience as well as learning interventions undertaken earlier.
Participants also work in small groups reflecting a management team (with specific responsibilities) as well as interaction with facilitators through role-plays. This ensures a serious learning environment rather than “just playing a game”.
The TTM ComSIM Business Acumen experiential learning process takes participants beyond knowledge and into performance — it allows them to interact with problems, investigate options, consider possible outcomes and of course, to implement solutions and evaluate the actual outcomes. This process includes the practical utilisation of appropriate inter-personal and leadership skills that will typically be required (i.e. negotiating budgets, setting and contracting performance standards, optimising team performance, motivation and leadership).
The TTM ComSIM Business Acumen programme structure is such that the various activities lead from one learning area to another, always building on previous learning experiences. The TTM ComSIM Business Acumen process was designed around a carefully planned set of inter-related sub-processes that balance the actual business issues with inter-personal and leadership skills for successful achievement of the company philosophy.
Why TTM ComSIM Business Acumen? Key Differentiators:
Focus on competency based, experiential learning
True interactive simulation software – not a “board game”
Highly flexible simulation software
Flexible presentation formats
Building powerful teams
|Should you need any further info about behavioural leadership, business acumen or any related topics, or if you are interested in the services which TTM associates offers, please do not hesitate to contact us.
Make sure to connect with us on all of the main social networks (below) to remain fully updated about our continuing series of articles.