Business acumen is keenness and quickness in understanding and
dealing with a business situation in a manner that is likely to lead to
a good outcome.
The term "business acumen" can be broken down literally as a composite
of its two component words: Business literacy is defined in SHRM's
Business Literacy Glossary as "the knowledge and understanding of the
financial, accounting, marketing and operational functions of an
organization."
The Oxford English Dictionary defines acumen as "the ability to make good judgments and quick decisions".
Given these textbook definitions, a strictly literal definition would
be "keenness and quickness in understanding and dealing with a business
situation."
Additionally, business acumen has emerged as a vehicle for improving financial performance and leadership development.
Consequently, several different types of strategies have developed around improving business acumen.
Source: Wikipedia
