360 Feedback Competency: Business Acumen



Understands Work Processes
  • Applies the knowledge of work processes to influence the achievement of business goals
  • Demonstrate sound commercial awareness
  • Demonstrates an understanding of appropriate R&D, Area, and Market resources to utilize for specific needs
  • Demonstrates an understanding of the hospital in its entirety and works to achieve results across disciplines, departments, and functions.
  • Demonstrates knowledge of the healthcare market and delivery systems in which we operate
  • Understands and applies business and financial principles.
  • Understands and uses appropriate R&D & Area resources
  • Understands complex issues and problems.
  • Understands impacts of domestic & global market events & issues.
  • Understands the "basics" as to how [Company] functions/operates.
  • Understands the challenges facing [Company]
  • Understands the costs, profits, markets, and added value of issues.
  • Uses sound business judgement when making decisions.


Gathers Business Information
  • Asks the 'right' questions to size up or evaluate situations.
  • Considers business models from outside the organization to help drive the market's success using different approaches
  • Keeps informed of current income and expenses.
  • Keeps up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet)
  • Keeps up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet) and shares this information with others
  • Maintains currency with laws, regulations, policies, procedures, trends, and developments.
  • Periodically assesses the current market environment.
  • Seeks clarity when new directions, procedures, or programs are introduced


Efficient
  • Able to align resources to meet the business needs of the company.
  • Can effectively interpret and analyze data.
  • Effectively develops and uses resources (people, time, money, supplies, equipment, and space) to improve organizational performance
  • Focuses on business strategies that will lead to success in the market place.
  • Links personal goals to [Company] growth and productivity goals
  • Maintains a focus on the 'bottom line' and profitability.
  • Takes action based on knowledge of what [Company] must do to win the marketplace
  • Weighs alternatives and selects practical solutions.


Forward Thinking
  • Anticipates marketplace opportunities and supports speed to market.
  • Considers impact of actions on other areas of the organization.
  • Explores new directions/approaches for accomplishing job objectives
  • Identifies new business opportunities.
  • Sees potential future business opportunities and challenges by keeping up to date with business/industry trends (e.g., 5-year forecast)
  • Views problems from a business perspective, opportunity, investment, risks, and anticipated results
  • Views problems as an opportunity.


Mission and Vision
  • Able to align resources to meet the business needs of [Company].
  • Considers external and internal environmental factors when providing advice and solutions to problems.
  • Exhibits behavior that is consistent with the vision, mission, and core values of the organization
  • Questions validity of company direction when it does not meet the needs of the Area


Information Sharing
  • Encourages Area team to keep up with industry changes; makes recommendations regarding recent business publications/resources
  • Encourages team to share best practices, challenges, and concerns, to drive help innovation and consistent district improvement
  • Informs market team of available resources to provide information/developmental contacts for team
  • Shares district ideas/recommendations with the rest of the market to drive market progress
  • Shares idea and methodologies with Area VP
  • Shares recommendations and plans with R&D, focusing on adapting to changes early within own area
  • Uses Company's communication tools (Email, Intranet, Social Media) to share ideas and best practices with others


Impactful
  • Acts decisively to frequently changing and uncertain external market.
  • Coach others to foster an environment which can adapt quickly and willingly to rapid change
  • Identifies and acts promptly to take advantage of potential market opportunities
  • Is a "change champion," even when change appears difficult or initially unfavorable
  • Presents a smart and professional image
  • Recognizes "change champions" early when new processes/programs are introduced and points these people out as role models for others to follow
  • Recognizes constraints and works to remove barriers that may stand in the way of achieving organizational objectives
  • Take prompt action when opportunities arise
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