The Building Business Acumen: What the CEO Wants You to Know program was hosted last week at EWTC member company Baker Hughes. The program, presented by Franklin Covey, is a finance seminar for non-financial professionals, aiming to provide employees with C-level insights into how an organization operates, so they can align their efforts with the company’s business goals and maximize its bottom line.
Cris Lang, Senior Consultant with Franklin Covey, shared tools and strategies for financial literacy, helping participants understand their role in strategic decision-making and increasing their understanding of concepts such as cash, margin, profitability, velocity, and navigating annual reports. Lang explained to the group, “Our goal is to help teach a common language because that is what ultimately creates culture. We want that culture to be united in the direction we are headed, and that all starts off with the language we use.”
Participants shared challenges or frustrations they are currently facing relative to overall financial literacy within their roles at their organizations. Some shared that they lacked practical experience in day-to-day operations below the C-Suite level, and others reported that agreeing on how to allocate capital internally was an issue.
During the seminar, participants broke into groups and engaged in partner discussions to work together on exercises, engage in case studies and discuss the key elements of business acumen that are critical to every organization. The breakouts provided participants with time to put what they had learned into practice, all while developing relationships with people they hadn’t worked with before.
From case studies to hands-on exercises, they practiced how to apply financial principles in their everyday decision-making and examined how even small actions can impact the bottom line.
Participants also explored how to interpret key financial documents, gaining confidence in navigating annual reports, income statements, and balance sheets. They discussed how these skills help bridge the gap between tactical execution and strategic planning.
By the end of the session, a common theme emerged: understanding business language empowers professionals at every level to think bigger and contribute more effectively. One participant shared, “It was very helpful to review annual reports and practice implementing the formulas we learned.”
The next iteration of this program will be held virtually on June 17; registration is now open.
For more information about Energy Workforce training programs, contact Vice President Programs & Events Peggy Helfert.
Peggy Helfert, Vice President Programs & Events, writes about the Energy Workforce’s sector-specific best practices and leadership. Click here to subscribe to the Energy Workforce newsletter, which highlights sector-specific issues, best practices, activities and more.
