“Business acumen” is an abstract word. Saying someone “has good business acumen” may have a lot to do with the very business context. But willing and able to grasp this context, trying to consider the context in the product management process can be proof of a good sense of business acumen. How does one acquire business acumen? Some say, being outcome focused; some say, think of yourself as the “CEO of the product”; some say, get an MBA and you’ll have all the business acumen you’ll ever need. Since there’s no definitive answer or a single story to nutshell this, why don’t we try and dissect one of the above “theories”?
Note: We are aware that there are many anti-MBA discussions. This chapter isn’t remotely close to pro-MBA. It’s used as an example for me to explain the reasons and meanings of business acumen.
This is one example and story about business acumen. There is more to it. Of course, you can get closer to the holistic business without enrolling in a business school. So read on. The principles in this chapter have been selected to help you navigate.