Engineers generate tremendous value by building the future world we live in. Making everyone’s daily personal and professional lives more comfortable, safer, and easier to navigate. But this is not reflected in the financial performance of engineering’s companies.
Most of the time, engineers do not have the necessary insights, engagement, and empowerment to commercialize valuable engineering services.
Projects are sold with double-digit % margins and end-up with margins close to 4%. One of the reasons for decline of margins is Leakages.
Leakages come in many ways, throughout every step in the Value-Stream.
However, the root cause, we found, is in the absence and limited attention for the commercial part of the work. Completing a project successfully does not mean that it is also contributing to the company’s financial success.
The root cause is mostly the absence of Business Savvy cooperation. Building Busines Savvy teams turns leakages into profitable margins, and at the same time improves working lives and creates better value for the client.
The way forward is to train all employees in Business Savviness (Acumen), creating a commercial mindset.
Business Savvy (Business Acumen) is an understanding of how a business works and what it takes for the organization to make money to be sustainable.
It combines financial literacy with business literacy: recognizing how strategies, behaviors, actions, and decisions not only affect the numbers but also drive profitable and sustainable growth.
Business Savvy helps employees to make the emotional connection between their involvement and the success of the company. To understand the benefits of being involved and how their company makes money. They feel more engaged; they take ownership and responsibility for improvement
We have worked with over 500 employees (engineers, staff, management, and leadership) on 4 continents improving the performance of engineering organizations deploying the Business Savvy Program.
Our program is action-learning on the job, it creates commercial awareness and increases the engagement of the engineers. The program delivers a culture change and at the same time improves the performance of the organization. Delivering Instant Result. With our Business Savvy Monitor, we measure the progress into a Business Savvy Culture.
With Business Savvy Engineers, you improve the organization’s performance, gives your organization a substantial differentiator compared to the competition, makes your organization attractive for your clients and new talent, and adds value to your clients and stakeholders involved.
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