Business acumen refers to an individual's ability to understand and make sound judgments about business operations, finance, marketing, management, and other aspects that are crucial for running a successful enterprise. It involves having a good grasp of the key principles of business, such as economics, accounting, strategic planning, and leadership, along with an intuitive understanding of how different factors can impact profitability and growth. People with strong business acumen have the ability to analyze data, identify trends, make informed decisions, and think creatively about new opportunities for their organization.