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Commercial awareness is an understanding of external business forces such as costs, competition, risks and regulations. This is considered an important skill for working with business units, customers and other stakeholders. Commercial awareness also allows employees to make team decisions that are good for the organization as a whole.
ExamplesAn IT manager who understands the pressure to close deals faced by sales teams.A stock trader with a solid grasp of risk and compliance pressures.A product designer with an understanding of the sales and reputational impact of poor reviews.An HR employee who feels the urgent competitive need to recruit talented sales people to expand into a new market.A front desk employee at a hotel who is well aware that customer reviews and social media posts can negatively impact bookings.|
Type | | Definition | An understanding of the pressing business forces that shape an organization. | Value | Cross-functional collaboration.Influencing across organizational boundaries.Making team decisions that benefit an organization as a whole. | Related Concepts | |
Next: Examples of Competition
Soft Skills
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