Business Acumen 1
The understanding of how a business functions and performs.
What is Business Acumen?
Something produced or manufactured to be sold; a good.
What is a product?
A document that outlines the steps needed to complete a project.
What is a plan?
A category of similar businesses.
What is an Industry?
Work done for pay that benefits another.
What is a service?
How much money a business gets in return from an investment.
What is Return of Investment (ROI)?
The entire amount of income before expenses are subtracted.
What is Revenue?
The process of turning an implemented strategy into success.
What is execution?
Big Picture Mentality, Strategic Thinker and Planner, Productive Communication, Capacity for Creativity
What are traits of successful Business people?
Considering the future implications of decisions and creating strategic plans.
What is forethought?
The sum of all knowledge contained within an organization that can provide business value.
What is organizational knowledge?
A project management tool that integrates scope, cost, and schedule for optimum planning and control
What is Earned Value Management (EVM)?
MSOC, ESOC, HHPC, and IMOC III are this type of contract?
What is a Cost Plus Award Fee contract?
Differentiating products or services, achieving a cost advantage
What is competitive advantage?
It is also called an Ishikawa diagram, as well as a herringbone diagram or cause-and-effect diagram.
What is a fishbone diagram?