What is considered the working understanding of effective principles and practices of functional disciplines as well as broader strategic management knowledge for conducting business in international settings, often involving both external business environment savvy and internal MNC organizational savvy?
A)Business Acumen
B)Explicit Knowledge
C)Tacit Knowledge
D)Cultural Sensitivity

Question

Quizplus · Accepted Answer

Business acumen refers to the understanding and application of effective principles and practices of functional disciplines (such as finance, marketing, and operations) as well as broader strategic management knowledge in international business settings. This requires both external business environment savvy (knowledge of market dynamics, regulatory frameworks, and cultural preferences) and internal multinational corporation (MNC) organizational savvy (knowledge of cross-functional coordination, decision-making structures, and international legal issues).

What Is Considered the Working Understanding of Effective Principles and Practices