The Need for Business Acumen in Successful Marketing

Posted by Cindy-Lee Pijoos on January 30, 2015

In the ever-changing world of digital media, there is an inordinate need for greater business acumen among communication professionals at all levels. During BMA’s Marketing Innovators Luncheon, DePaul University professors Ron Culp and Matt Ragas discussed key finding from their book Business Essentials for Strategic Communicators: Creating Shared Value for the Organization and its Stakeholders (Culp & Ragas, 2014). Their research shows that there is an important need for communicators to convey the language and comprehend business goals and development.

Culp and Ragas offered the following tips to help communicators develop greater business acumen:

Your Company’s Business Model

What is your business strategy? Be sure everyone on your team has a deep understanding of your business strategy and what truly drives business. How does your company and clients make or lose money?

Review Quarterly Earnings Releases and Coverage

Read, compare, and discuss earnings release and then compare it against prior earnings estimates

Check out Investing Education Platforms

Get involved. Visual trading platforms like TastyTrade and Dough make trading options simple and help you understand your options to trade like a pro.

Watch and Discuss TV Shows and Short Films about Business and the Economy

Want to learn how to successfully pitch your business ideas? Interested in how a business can radically change to save their business from failing? Watch shows like ABC’s “Shark Tank” and CNBC’s “The Profit” to keep well-informed.

Read and Discuss Michael Lewis Books

Explore the world of trading and learn about some of the biggest financial lessons. Author Michael Lewis provides readers with an understanding of complex business concepts in fascinating ways.

Read and Discuss Books for non-MBAs on Business 101 and More

Check out The Portable MBA (Eades et, 2010) and The Financial Writer’s Stylebook: 1,100 Business Terms Defined and Rated (Cloud & Rousch, 2010).

Great business acumen is achieved with great people.

Paladin can help you find the right talented employees to align with your company goals and culture. Allow our team to help find the perfect creative professionals to continue to drive your company in the direction of success for generations to come.

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