The last year saw both companies and employees to evolve and adapt to face uncertain situations. As we look towards 2023, it is important for professionals to take the time to realign their mindset towards growth and look at the infinite opportunities available. Commercial awareness is one of the most important soft skills that many employers seek these days, especially for middle to senior level positions. Possessing strong commercial mindset can give you that edge which shows you are strategic, truly connected to the business and have thorough business knowledge.
In this article, we will share a few top tips on how you can develop that commercial acumen irrespective of the career level you are at.
Do you have a keen interest in how your company operates?
Are you able to answer any of these questions to start with?
Ensure you are well-versed about your company and having a big picture of the market is key to building a strong commercial mindset. Get a good understanding of your company’s values, business priorities and past performance. Start reading and subscribing publications like The Financial Times, Bloomberg, The Guardian, to name a few. As your interests evolve and become increasingly focused, you may want to read more specialised industry publications. This way you’ll be able to form your own opinions and demonstrate your understanding of the issues affecting your industry or sector.
Talk to as many internal stakeholders as possible
After having developed a sound understanding of the overall business, it’s also recommended to translate the knowledge into something meaningful to you company. A good and direct way is to speak to key stakeholders, check your company’s news and social media feed to be aware of the message or content being put out to be aligned. Be proactive, expand your internal network across departments to understand the company thoroughly and “connect the dots” across business’s issues.
Expand your work exposure
Another aspect that can help improve your commercial awareness is building up your work exposure. Look for key projects, voluntary work, job rotation and even international mobility programme that you can be a part of. This can help you develop a deeper understanding of the business from different levels and perspectives. As time goes by, you would be able to priorities you work, focus on those bring true commercial value your business and presenting value-adding analysis to top management.
“The more you advance in your career, the more important commercial awareness becomes. Having strong commercial acumen enables you to make a positive contribution towards the success of a business, spot opportunities for improvements, demonstrate your commitment, and keep yourself and those around you motivated.”
Never stop there
Building a commercial mindset is not a “one-off exercise”. Commercial awareness should be part of your ongoing professional development throughout your career. It’s important to keep abreast of the constantly evolving economic & political situation and evaluate opportunities to assess and improve your own understanding.
Looking for a fulfilling job? Ask yourself these 6 key questions
Dreading another dull day in the office? If you’ve lost your passion for work, it could be time to make a break. Find a job you love by asking yourself these six essential questions… What do you actually like about work? When trying to figure out your dream job, it can be tempting to do just that: cRead More
How to seek change when encountering a career bottleneck
For many people, there comes a time when their career reaches a point of stagnation. One becomes unsure of where their career is heading or if their role is still aligning with set career purpose or not. Often times they stop seeing any visible opportunity to progress – which could happen in any fieRead More
Embracing change in the workplace
Embracing change in the workplace is a necessary skill for workers in 2020. As Covid-19 reached pandemic status, the world has been, in one sense, forced into the future of work. It’s a future where work is often location agnostic, and where the core focus is on outcomes to keep organisations movingRead More
Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.