))
Business Acumen in L&D
Manage episode 302497424 series 2983244
Το περιεχόμενο παρέχεται από το Liz Stefan - Nifty Learning. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Liz Stefan - Nifty Learning ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
In this episode, we take a look at Business Acumen: what does it mean in L&D, why it's essential to have this skillset, how it helps L&D professionals and organizations.
Guest: Lavinia Mehedintu, People Experience Manager at eMAG and co-founder and curator of Offbeat.
Highlights:
* Business Acumen is a combination of skills and knowledge that, summed up, explains how well an L&D professional understands the business they operate in. Having Business Acumen means understanding how that business makes money, what it spends money on and what drives business performance.
* L&D's role is to support business performance either by driving down cost or driving up revenue through skills and know-how development.
* Having Business Acumen builds organizational trust in L&D.
* L&Ds don't typically have this know-how for two main reasons: the main focus of L&Ds professionals is psychology-oriented, and the business' expectation of L&D is to execute upon request rather than to advise.
* To acquire Business Acumen, L&Ds can: expose themselves to the operational and financial teams' work, take part in projects to practice business-specific skills, or learn about the industry from external sources (i.e., domain research papers, articles, podcasts).
* Understanding business metrics and KPIs directly from operational and financial teams is essential for building them into effective learning interventions.
* Prototyping learning interventions together with operational and financial teams ensures a close connection between business growth and learning.
* Measuring the impact of a learning intervention is easier when you build business KPIs into learning program prototypes.
* Understanding what drives a domain, a business, or an employee is the best way to exercise the support role that L&D has towards an organization.
Business Acumen as a form of knowledge:
- Understanding the business model
- Knowing the drivers of profitability and cashflow
- Understanding the interdependencies of the various business functions
Business Acumen as a skill:
- Knowing how to act based on the information above
- Proposing and implementing L&D solutions that fit the need identifies
- Forecasting the impact of these solutions and measuring results
To join the conversation or get in touch, reach out to Liz Stefan on LinkedIn or email liz[at]niftylearning.io.
23 επεισόδια
Μοίρασέ το
