Promotion Killers: Not Understanding Your Company's Business

Business acumen allows you to understand your company’s overall strategy and how the company competes in the marketplace. It helps you speak the language of business. This lets you communicate with senior leaders in your company and show them that you’re aware of the issues they deal with daily. Developing business acumen shows others that you’re a business generalist, not a specialist – an important key to getting a promotion. One way to see how well you understand your company’s business is to see if you can answer 11 questions. For the most recent fiscal year end:

1. How much cash was on hand?


2. How much cash was generated from operating activities?

3. What was total net income?

4. What was the net profit margin?

5. What were total sales?

6. What was the inventory turnover rate?

7. What was the return on assets?

8. How much did sales grow over the previous year?

9. How much did net income grow over the previous year?

10. How much did Earnings per Share grow over the previous year?

11. How do all of the above compare to your competition?

The answers to these questions are in your company’s annual report. Study it and learn the answers, then you’ll be on your way to getting the promotion you want. If you still don’t get it, take a finance colleague to lunch and ask him or her to explain the answers to you.

Your Next Step

If your job search isn't moving as quickly as you want, it's time to take action. Check out this guide to landing your dream job and start climbing the corporate ladder faster! LEARN MORE ► Photo Credit: Shutterstock

If you saw our first video, you might have heard about the awkward situation one of our viewers, Diane submitted. She has recently worked with a co-worker on a group project. When it came time to present the project at a meeting, Diane let her co-worker present. While it went great, the co-worker proceed to take credit for nearly all of Diane's work. Frustrating to say the least!

SHOW MORE Show less

In this week's episode of "Well This Happened", we want to know what you would do if your co-worker took credit for the work you did...right in front of your colleagues AND boss!

We want YOU to be the career coach and tell us which one is the RIGHT answer!

Think you know? Vote below, and stay tuned for later this week when we announce the right answer (and why the other ones are wrong).

SHOW MORE Show less

If you saw our first video, you might have heard about the awkward situation one of our viewers, Cam submitted. He's been working at a job for awhile, but recently overheard a hiring manager making fun of a candidate with autism right after an interview-not only awkward, but VERY unprofessional!

SHOW MORE Show less

In this week's episode of "Well This Happened", we want to know what you would do if witnessed a hiring manager at your organization making fun of a candidate who they had just interviewed who had autism.

We want YOU to be the career coach and tell us which one is the RIGHT answer!

Think you know? Vote below, and stay tuned for later this week when we announce the right answer (and why the other ones are wrong).

SHOW MORE Show less

Starting a family is one of the biggest milestones in a person's life. It's in those first few months when a parent can really bond with their newborn and make lifelong memories. However, for some new dads, it can be difficult to juggle being a new parent while remaining dedicated to their career.

Fortunately, some companies have generous paternity leave policies that give new dads the ability to take time off of work to stay home with their child.

SHOW MORE Show less

There are LOTS of questions around resume dos and don'ts. There's so much advice out there that it can be overwhelming to try and figure out what's the correct answer.

During our weekly live Office Hours on YouTube, two of our coaches, Ariella Coombs and J.T. O'Donnell, answer questions live from viewers related to their job search, career success, on the job situations and more.

We complied a simple list of what we find to be the most common questions our coaches get about resumes. We hope you find this helpful.

Let's start with the basics...

SHOW MORE Show less

Back in March, we made the hard decision to change our private Facebook group of over 37 THOUSAND members to a fee-based only platform.

SHOW MORE Show less

In this week's episode of "Well This Happened", we want to know what you would do if a recruiter called you a day EARLY for your phone interview (and you were NOT PREPARED!)

We want YOU to be the career coach and tell us which one is the RIGHT answer!

Think you know? Vote below, and stay tuned for later this week when we announce the right answer (and why the other ones are wrong).

SHOW MORE Show less