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Delivery Options
Certified Practising Accountant

Human Resource Managers
Free HRD Survey

Business Acumen

Over the past 15 years we have witnessed a transformation in the business culture and management practices of Australian companies and the public sector. It is only now that we are starting to see heightened pressure for managers to clearly demonstrate business acumen competency in their leadership and management role.

Human Resource Managers – HRD Challenge

Many managers today lack the critical business acumen skills that are now expected of every manager. The first challenge for Human Resource Managers is to engage managers in dialogue around the need for business acumen in the organisation.

The following survey has been designed to assist Human Resource Managers to initiate such dialogue.


HRD Business Acumen Survey
BUSINESS
ACUMEN
ELEMENTS		 TICK ITEMS APPLICABLE RECOMMENDED DEVELOPMENT SOLUTION
Financial
Literacy
 

Understands Key Financial Terminology
 

Able To Read and Interpret Financial Statements
 

Understands financial policies and their impact
UNDERSTANDING FINANCIAL STATEMENTS
Business
Communications
 

Understands and can work with Financial Reporting Systems and Processes
 

Communicates and works effectively with the finance department
 

Effectively communicates with the team regarding budget and KPI performance
 

Able to prepare and communicate Budget Performance Reports
FINANCE FOR
NON-FINANCE MANAGERS
Budget Management
and Control
 

Able to operate in a Zero-based budget environment
 

Prepares robust budget estimates as part of the budget planning process
 

Able to “drill down” into the Financial Reporting Systems and investigate budget variances
 

Analyses causal factors behind budget variances and takes timely corrective actions
 

Understands cost drivers of the business and manages expenditure effectively
ZERO BASED BUDGETING
Financial
Decision
Making
 

Able to prepare a comprehensive Business Case for new projects and initiatives
 

Able to prepare a Cost/benefit Analysis
 

Can use financial decision-making tools
BUSINESS CASES
Strategic
Performance
Management
 

Contributes to Business Plan Formulation
 

Has an appreciation of the “bigger picture” business performance issues
 

Able to analyse, interpret and act upon financial KPIs
 

Understands the organisation’s asset management strategies and Return on Assets expectation
FINANCE FOR
NON-FINANCE MANAGERS

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