For years, organizations have relied on “traditional” Finance for the Non-Financial Manager (FFNFM) programs to help managers better understand essential financial concepts and terms. This allows them to understand how their company makes money and, possibly, how to make better business decisions. In fact, a recent Advantexe survey found that 76% of companies still offer an FFNFM program, proving its continued relevance.

An effective FFNFM program should go beyond teaching financial terms and concepts, it must build confidence, skills, and the ability to analyze data, make informed decisions, and drive business results.

This blog post will explore the key elements of a strong FFNFM program, including foundational financial concepts, the impact of business decisions on financials, and how simulations can enhance financial acumen. By building core skills, managers can better connect financial insights with strategy to ensure they contribute to their company’s growth and performance.

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Despite the popularity of other complex learning tools like AI, AR, and VR, many Talent Development professionals still have significant objections to using digital business simulations to build skills. From cost concerns to fears about complexity, these objections can deter organizations from embracing the incredible value digital business simulations deliver to audiences in need of these skills and organizations fighting to achieve success in a very tough global business environment.

At Advantexe, we’ve heard it all. We know what it’s like to sit in meetings where decision-makers worry about technical hurdles, security risks, or whether employees will actually engage. But here’s the thing, these objections are all solvable, and the benefits of business simulation-centric learning far outweigh the challenges.

To help you navigate these concerns, we’ve compiled the top 10 objections and potential responses to utilizing digital business simulations in your talent development programs.

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What if you were a pilot who had never practiced making an emergency landing? What if you were a professional American football quarterback stepping into the championship game without ever practicing getting rid of the ball when the all-out blitz comes at you?

Now, what if you are a business leader making and executing strategic decisions through teams of people without ever practicing to be a business leader?

The results in all three scenarios would be the same: costly mistakes, missed opportunities, and angry customers and shareholders. That isn’t a winning formula or approach!

Yet, in today’s business world, many organizations expect leaders and employees to make critical decisions without a safe space to learn and practice. Business simulations change that. They offer an innovative and immersive way for professionals to experiment, grow, retain knowledge, and succeed, all in a risk-free environment.

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In 2024, Business Acumen skills proved once again to be of critical importance to business leaders. Our marketing automation system is able to track the number of readers for each of our weekly blog posts, and looking back at the past year, a few posts stood out as favorites. These posts might have been written in different years, but they’ve found their audience in the digital world and continue to provide value.

Here’s a look at the top six most-read posts and my personal thoughts on why the topics resonated with our business leader audience. I also reflect on what makes business acumen skills such a critical topic.

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Building Business Acumen Skills for Everyone

In today’s business environment, having the right business acumen is no longer optional, it’s mandatory. Understanding the core drivers of business success allows individual contributors and leaders to make informed decisions, align their actions with the strategy, and drive the results that you have promised to your employees and shareholders.

Business acumen matters because it builds the bridge between an organization’s strategy, its goals, market realities, and operational execution. It enables employees, managers, and leaders to:

• Understand the “whys” behind decisions.
• Drive alignment across teams and functions.
• Anticipate market shifts and respond proactively.
• Use financial insights to make smarter choices.

Deliver on customer expectations while maintaining operational efficiency. Read More >