Personnel Selection: Interview Questions: Business Acumen

Understands Business Enterprise

Explain how you would apply the knowledge of work processes to influence the achievement of business goals?
Explain how you understand the challenges we are currently facing.
How would you demonstrate sound commercial awareness?
Do you use sound business judgement when making decisions? Please explain.
Describe your knowledge of the healthcare market and delivery systems in which we operate.
How do you understand and apply business and financial principles?
Explain how you would understand and use appropriate R&D & Area resources.
How do you demonstrate an understanding of the hospital in its entirety and works to achieve results across disciplines, departments, and functions?
Give an example of how you demonstrated an understanding of appropriate R&D, Area, and Market resources to utilize for specific needs.

Gathers Business Information

Do you keep up to date with business/industry trends using non-Company's resources (newspapers, magazines, Internet) and shares this information with others?
How do you keeps informed of current income and expenses?
Do you seek to better understand other areas of the company, including their operations, personnel, and output?
How do you ask the 'right' questions to size up or evaluate situations?
How do you keep up-to-date with business/industry trends using non-Company's resources (newspapers, magazines, Internet)?
How do you seek clarity when new directions, procedures, or programs are introduced?
Have you ever considered business models from outside the organization to help drive the market's success using different approaches?

Efficient

Give an example of when you took action based on knowledge of what the [Company] must do to win the marketplace?
Can you effectively interpret and analyze market data?
How do you weigh alternatives and select practical solutions?
Are you able to align resources to meet the business needs of the company?
How do you effectively develop and use resources (people, time, money, supplies, equipment, and space) to improve organizational performance?
How do you focuses on business strategies that will lead to success in the market place?
Do you maintain a focus on the 'bottom line' and profitability? Explain.
Can you effectively interpret and analyze data?

Forward Thinking

Do you view problems from a business perspective, opportunity, investment, risks, or anticipated results?
What problems would you view as an opportunity?
What do you see as potential future business opportunities and challenges?
How do you explore new directions/approaches for accomplishing your job objectives?
Describe how you consider the impact of actions on other areas of the organization.
How do you identify new business opportunities?

Mission and Vision

Do you consider external and internal environmental factors when providing advice and solutions to problems?
Do you exhibit behavior that is consistent with the vision, mission, and core values of the organization?
Do you question the validity of the company's direction when it does not meet certain needs? Explain.
Are you able to align resources to meet the business needs of the company?

Information Sharing

Have you shared recommendations and plans with R&D, focusing on adapting to changes early within your own area?
What do you do to encourage the team to share best practices, challenges, and concerns, to drive help innovation and consistent district improvement?
How do you encourage the Area team to keep up with industry changes; make recommendations regarding recent business publications/resources?
Do you share district ideas/recommendations with the rest of the market to drive market progress?
Do you share ideas and methodologies with Area VP?
How do you inform the market team of available resources to provide information/developmental contacts for the team?
Do you use the Company's communication tools (Email, Intranet, Social Media) to share ideas and best practices with others?

Impactful

Describe how you present a smart and professional image to others?
How do you coach others to foster an environment which can adapt quickly and willingly to rapid change?
Are you a "change champion," even when change appears difficult or initially unfavorable?
Describe how you would recognize constraints and work to remove barriers that may stand in the way of achieving organizational objectives?
Have you acted decisively to a frequently changing and uncertain external market?
How do you recognize "change champions" early when new processes/programs are introduced and point these people out as role models for others to follow?
Have you identified and acted promptly to take advantage of potential market opportunities?
How do you take prompt action when opportunities arise?

Financial Literacy

Do you have a good understanding of liabilities and assets?
Do you understand financial terminology, statements?
Can you calculates return on investment (ROI) for various business projects?
Do you know how to use financial information to make an impact on the organization?
Do you understand cash flow procedures and statements?
How are you able to correctly assess current/estimated valuations?
Do you understand the costs, profits, markets, and added value of issues?
Do you have an understanding of various asset classes and how to interpret balance sheets?

Analytical

Market Awareness

Describe how you anticipate marketplace opportunities and supports speed to market?
Do you understand the dynamics of our industry?
Describe how you understand the impacts of domestic & global market events & issues?
Do you periodically assess the current market environment?
Do you understand consumer behaviors and how they may change in the future?
Do you understand our competitors and their strengths and weaknesses?
Are you aware of regulations that impact our business?

Regulatory Knowledge

How do you maintain currency with laws, regulations, policies, procedures, trends, and developments?
How do you identify potential regulatory risks and strategies to mitigate them?
Can you create strategic plans that conform with regulations and industry guidelines?
Are you up-to-date with regulatory guidelines and policies?