Management + Business Acumen

BoK Management + Business Acumen Icon



  • Demonstrate strategic planning processes and best practices.
  • Formulate a strategic plan framework including vision, mission, and goals.
  • Prepare an operational plan for implementing strategic plan goals.
  • Measure achievement of strategic plan goals and alter as needed.


  • Use generally accepted accounting principles.
  • Monitor budget allocations, expenditures, fund balances, and related financial activities.
  • Perform cost analyses and return on investment (ROI) calculations to determine resource allocation.
  • Track national cost and spending trends related to library and information resources.
  • Establish efficient and legally compliant procurement guidelines.
  • Demonstrate bargaining and contract negotiation skills.


  • Maintain knowledge of and pursue internal and external funding opportunities.
  • Compile annual budget requests using past financial records, detailed rationales, future needs, and economic indices.
  • Advocate for institutional support to ensure maintenance and growth of the library.
  • Establish effective networks and partnerships for resource sharing, collaboration, and consortial purchases.
  • Monitor national trends in library funding and market price fluctuations.


  • Deliver key metrics of business operations, user analytics, and ROI to stakeholders.
  • Select and use appropriate data analysis tools and methods including visualization, text analysis, and statistical modeling.
  • Identify and apply analytics to business issues.
  • Create and communicate effective analytical and benchmarking reports.


  • Develop hiring expertise including recruitment tactics and interview skills.
  • Implement policies and procedures that comply with federal and state employment law.
  • Create training programs that empower employees to fulfill daily job functions, advance to other positions, and adapt to institutional changes and industry shifts.
  • Demonstrate supervisory best practices including fostering teamwork and clearly communicating goals and expectations.
  • Evaluate organizational structure and workflows to maximize efficiency and job performance.
  • Design a staffing succession plan.


  • Describe fundamental project management processes, methodologies, and tools.
  • Analyze project requirements and develop a clear statement of the project’s scope.
  • Plan, organize, and manage resources to successfully complete specific project objectives within a specified time frame.
  • Establish effective team structure and delegate areas of responsibility appropriately.
  • Monitor project progress, control risks, and realign project parameters if needed.
  • Communicate project information to stakeholders in clear written and verbal formats.


  • Apply industry standards for design, facilities, and space management.
  • Implement inventory control policies and procedures.
  • Evaluate and monitor building infrastructure systems.
  • Develop emergency preparedness and business continuity plans.
  • Establish security policies that align with those of the parent organization.
  • Monitor national trends in library facilities, emergency preparedness, and security.


Explore domain resources button