The Business Acumen Rules of Diminishing Returns

One of the most important and basic pillars of having a strong business acumen competency is understanding how to make the best decisions that align to your chosen value proposition to your customers.  Unfortunately, one of the biggest mistakes business leaders make is thinking that they have to be the best at every element of their value proposition instead of focusing on the right balance and the right value proposition to their selected customers.  For example, I was recently conducting a Business Acumen learning engagement for a group of mid-career leaders and asked a group of 36 professionals the following; “Who thinks the most important thing that you do as a leader is to get all your people to make the best product, deliver it with the best service, and go to market with the lowest price to win the business?”  31 out of the 36 participants raised their hands.  All 31 were incorrect and are leading the execution of decisions and strategies that can’t exist in 2017 and beyond.

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