5 ways tech leaders can increase their business acumen [Video]

Developers, engineers, data scientists, and other technologists generally understand the value of earning technical certifications, experimenting with new technologies, and strengthening collaboration skills. However, developing business acumen is just as critical for those seeking more responsibilities and opportunities to work on strategic initiatives.

Business acumen sometimes refers to business skills, including leadership, understanding business financials, marketing proficiencies, strategic thinking, and problem-solving analytic capabilities. One definition of business acumen focuses on skills such as stakeholder awareness, organizational knowledge, and the ability to deal with ambiguity. Advanced business acumen skills for IT leaders include understanding key business drivers, business resiliency, data privacy laws, and the customer journey.

In this article, my focus is on how digital trailblazerscan better understand the company’s business model, market segments, customers, products, opportunities, risks, and compliance requirements as essential aspects of business acumen. Without this knowledge and understanding, technologists will struggle with recognizing business needs that aren’t documented as explicit requirements, or with answering …