How will the information obtained through this analysis impact your conversations or pitches with this company? Give me an example of a decision that was made in your area that had a major impact on another area or department. Submitted the exercise and did not hear back.3. 10) How Will You Respond to Customer Complaints? Strategic-thinking in the workplace is the ability to make business decisions by analyzing current and future scenarios. Instead, answer honestly and discuss what makes the company you are interviewing for stand out. In the legal profession this is asked in almost every single interview for solicitors, paralegals and partners. This was the last round of the process before an offer. Ever had a chance to showcase your leadership skills to a large number of people or within a team? What does the company share with the public with respect to their cost of capital, hurdle rate, or return on equity? HRs draft company policies, design the employee rules & regulations, and recruit the staff needed for the company. Describe this company generally from a People perspective. 4. This is critical for connecting them with the company, making them understand the workings of the organization and also analyzing their role in the greater scheme of things. Was there a time when a potential client had made a demand that was outside your level of expertise, knowledge? Let’s take an example of an unfortunate employee caught in the direct line of fire of a customer's wrath recently, at a fast food chain. Assets are things that are needed to establish and run a business. Policy changes brought in by the new government. Copyright © 2008–2020, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Why position, why company, where do you see yourself 5 years later, research skills, - what's your favorite data science project, Data and Policy Analyst - Writer/Coordinator, Tell us about your research project experience, Data and Policy Analyst - Statistical Programmer. It is a skill which must not be downplayed or forgotten about. More pronounced in capitalist governments, where major decisions could be taken backed by corporates. There is a tendency with managers to think of their department as the company itself. I interviewed at Acumen in July 2020. I interviewed at Acumen in July 2020. Have you ever introduced an idea that would lead your company to have an advantage over your competitors? Give an instance when you had to reduce the costs of your department and the team? They are −. Try to read newspapers such as the financial times and the economist for strong business acumen and knowledge about the industry. When the HRs learn Business Acumen, they will start thinking of the way their recruitments will impact the performances of the company as a whole. Aug. 21, 2020 – Application Development Director. As of December 2014, the airline has about 46,000 employees with more than 3,400 flights scheduled per day. Loves Writing in my Free Time on varied Topics. This will affect the way in which they work and the decisions they make. We are still moving forward with you In-Person Interview." One big reason behind the managers making such mistakes is that they are generally promoted based on their technical expertise in their domain. Here are a few questions you can ask to assess your business acumen: Before attending an interview, it’s a good practice to go through various questions as it will help you to answer satisfactorily and pleasingly. How well equipped you are about the organization and how well and detailed about the business industry in which the organization is operating? ... this question is a great way to illustrate business acumen and creativity. Whether there has been any change noticed in the customers' requirements and behavior, or in the latest buying trends? Identify all major costs and items that impact the profit of your company, after going through the Income Statement. People working in the hospital administration should know about the subject of effective administration of hospitals and their operation. It needs you to commit time and efforts into the purpose. First hour is a logic test, followed by two hours of interviews (about 30-minutes per interview). Compare your company’s performance with its strongest competitor’s performance with respect to cash. 5) How Would You Define Commercial Awareness? Want to be sure of success in your next interview? © 2020 Interview GPS. Costs to the company under all the various heads. Why ask strategic-thinking interview questions. Business Acumen is the art of learning a set of important skills that are needed to be a successful professional. Managers with a good sense of business acumen realize that it's not enough for them to cut costs and increase sales. Your company’s investment in its assets will tell you what their growth chart is going to be in the next couple of years and the direction they are headed. Unlike those at Southwest Airlines, many HRs working with other organizations haven't been educated on seeing the big picture. What elements contribute to the profit margins of your company? To get a better understanding of the things related to business acumen, you need to possess few skills and competencies and they are. The interview itself is when your commercial awareness is put to the test. Why Do Recruiters Keep Asking for Strong Business Acumen or Commercial Awareness? Glassdoor will not work properly unless browser cookie support is enabled. Companies hire employees with a strategic mindset to help achieve long-term business goals. Explain how the Assets Metrics of your company are related to the current trends in Profit and Cash. These include simple commercial awareness interview questions such as: There are some questions that the recruiters might ask in between the main questions in an interview to get to know more about the commercial awareness and knowledge within the candidate. Keeping in mind the company’s current cash flow statement, what are its major sources and uses of cash? Identify and explain any trends in the Growth metrics. Review the company’s stock price performance over the past five years. By encouraging them to think like employers and business-persons, they are making the working process transparent by inviting questions from their employees and managers on not only their own departments, but also those of others. Having a business sense can be beneficial for any company. Their approach towards their department is like that of an isolated entity which is independent of influences from other departments. For example, if there were recent staffing changes or the company gained a new CEO, you could mention this and discuss what you believe it means for the future of the company. 8) If Given the Opportunity, What Would You Invest In? Judging from its cash flow, where it must do well or improve its performance to sustain the profit in the future? The following table will give you an accurate description of your company’s profit. Got a fairly quick response (within a week) asking me to complete a data exercise (you have one week to complete it).2. The following activity helps to build and enhance Critical Thinking of the employees in a company. The amount of revenue the company generated compared to the amount that was invested in developing and designing the product. Identify your impact – how will the above impact your conversations or pitches with this company?
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