Each month, the Executive Advisory Network (ExecNet) shares feedback through surveys to validate specific skill statements within the National Business Administration Standards. Last month, ExecNet members validated skill statements from the Economics Instructional Area in the Business Administration Core.
In our latest survey, business professionals weighed in on competencies related to productivity, macroeconomic indicators, and global trade. Continuing the strong trend seen in previous surveys, respondents prioritized operational drivers that directly affect a company’s bottom line over theoretical concepts.
Efficiency First: When it comes to business operations, efficiency is king. Economies of scale (78% critical) and the concept of productivity (72% critical) emerged as the top priorities. Professionals view understanding how to scale operations and maximize output as essential skills.
Conversely, broad indicators like GDP (17% critical) and unemployment rates (28% critical) were categorized primarily as recommended background knowledge rather than daily essentials.
A Practical Approach to Global Trade: The results also revealed how businesses view international business and global trade. Operational factors that impact immediate market reach, such as globalization (56% critical) and the economic impact of inflation (56% critical), scored highest in criticality.
Meanwhile, more academic aspects like a country’s history (17% critical) or broader cultural/social environments (17% critical) were at the bottom, reinforcing that professionals prioritize actionable management and execution over theoretical context.
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