Business Acumen and the Future of Work

ABSTRACT

Recent, momentous times in humankind's history as countries struggle to deal with COVID19, amplify the need for new thinking, skills and capabilities in business and for life itself. Business as usual is no longer an option;indeed the future of work is being reshaped by factors that at times appear beyond our control. The new normal will be one of even higher uncertainty, volatility and shifting geopolitical demands that will require new and more nuanced mindsets, skillsets and capabilities. In a business sense, entrepreneurship will come even more to the fore than it has over the last decade, as complex conditions facing post-COVID business will require innovative, agile and lean responses. Yet to anchor the creativity inherent in the future of work, a fundamental platform of capabilities is required that span multiple disciplines and theatres of endeavor. Business acumen has for some six decades and more been seen as an omnipresent necessity, vital to both the efficient and effective management of core business and critical to the development of tomorrow 's business. This paper presents research on business acumen and the implications for the future of work using one of the world's most advanced medical research institutes as a case site as this organization looks to transition a largely laboratory-embedded workforce, to one that understands the need to transform knowledge into commercial outcomes that deliver more optimal solutions for those in need.