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Business Acumen C8 – Exam Questions and Answers (latest 2024)
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Business Acumen C8 – Exam Questions and Answers (latest 2024)
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Business Acumen C8 – Exam Questionsand Answers (latest 2024)
Key Compentencies for Compensation Professionals - Correct
Answer ✅Financial Management, HR management,
Resource Management
Financial Management - Correct Answer ✅broad
understanding of finance, understands ROI of programs,
assess performance based on stated objectives,
HR management - Correct Answer ✅assesses current and
future staffing needs based on organizational goals and
budget realities, ensures staff are selected, rewarded and
retains, takes corrective action, understand org design
principles
Resource Management - Correct Answer ✅determines
sources collects to ake fact based decisions, partners, uses
efficent and cost effective approaches to things
Business Acumen skills and behaviors - Correct Answer
✅mission, vision, values, business strategy, org culture, HR
strategy
,Business Acumen C8 – Exam Questions
and Answers (latest 2024)
Business Acumen for Comp Professionals - Correct Answer
✅demonstrate influencing and negotation skills, be expert
with data, navigate regulatory challenges
Importance of business acumen - Correct Answer
✅contributes to org success, engages with senior leaders,
self improvement and career development
BA: contributes to org success - Correct Answer ✅develop
framework for thinking strategically, be able to explain the
ROI of initiatives and the value to the business
BA: engaging with executive leadership - Correct Answer
✅thinking as business leader, helps other to see you as a
leader
BA: self-improvement and career development - Correct
Answer ✅be able to see the connections between your
actions and the greater organization, better able to plan,
organize and guide activities, confidence building.
, Business Acumen C8 – Exam Questions
and Answers (latest 2024)
why are orgs in business - Correct Answer ✅money!
(mission, vision, values, strategy, profit model.
STRATEGY - Correct Answer ✅broad framework of
priniciples and approaches that guide day to day decisions
affecting the business. including how the company positions
itself in the market
Competitive strategy - Correct Answer ✅three primary
strategizes: operational excellence, product/service
leadership, customer intimacy
operational excellence - Correct Answer ✅price/cost based
strategy that includes a combination of price, quality, and
dependablity. (good price, everywhere!
product/service leadership - Correct Answer ✅innovation-
basded strategy that focuses on product deveopment and
market exploration (APPLE)
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