Business Acumen: A General Understanding of Business Principles
By S. Anthony Iannarino Business acumen doesn’t follow closing, differentiation, or prospecting, even though it is fourth on the list. Although there are salespeople who may be able to close and obtain commitments, most of the time the ability to obtain commitments is reinforced or enabled by the salesperson’s business acumen. There are lots of ways to differentiate yourself and your company from competitors, and business acumen is surely one of the most important. These two attributes and skill sets enable and reinforce each other. Prospecting is a skill that may precede the need for...
5 Ways to Win at Business Acumen
The Oxford English Dictionary defines acumen as “the ability to make good judgments and quick decisions.” Our definition of Pharmaceutical Business Acumen is ability to make critical business decisions (targeting and strategic resource allocation) to achieve sales objectives. There are many challenges involved in developing strong business acumen in your sales force. IN this article I want to share some of the best ways to win the game. Building strong Business Acumen requires multi dimensional approach which involves training people and creating processes that can facilitate your...
5 Pitfalls to Developing Strong Business Acumen
The head of sales of your organization has decided that business acumen is a critical skill to help the organization meeting its’ objectives in 2012. So a team of top sales managers, training and sales effectiveness are assembled to develop a plan. The team comes back with new business planning templates and training. After some consultation and development work, your team rolls out your business acumen initiative. Here are the pitfalls: Pitfall #1: Aligning Planning Processes Marketing plans are built on strategies and tactics on a per product basis. Sales plans are built based on...
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2011 Canadian Pharmaceutical Sales Management Report
