Business acumen for nursing leaders: A scoping review

Abstract

Aim The aim of this study is to explore the current evidence on business acumen of nurse leaders. Background Health systems across the world are under immense pressure to stay solvent, maintaining services within a defined budget as we recover from the COVID‐19 pandemic. Effective nurse leaders not only need to have strong leadership and management skills but also strong business acumen to navigate the complexity of the system. Evaluation A scoping review of research was undertaken, using preferred reporting items for systematic reviews and meta‐analyses (PRISMA) scoping extension checklist, with 571 studies found across multiple databases, 17 meeting final review eligibility. Key Issues Findings were noted surrounding three themes: the value of business acumen in nursing, the gaining of business acumen in health care as a nursing leader and the utilizing business acumen as a nurse leader in the health care industry. Conclusion While nursing leadership and management were well researched, limited studies covered the specific focus of business acumen in health care for nurses or broader clinicians. Implications for Nursing Management While evidence points towards business acumen being important for health care leaders in balancing care and cost, inadequate research limits the recognition of these professional capabilities of nurse leaders. Further understanding could inform future policy and curriculum, as well as empower our next generation of clinicians.

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