Business acumen for nursing leaders: An exploratory qualitative study

Abstract

Aim The aim of this study was to explore the status of and need for business acumen of nurse leaders. Background Health systems globally continue to reform to deliver better care while working within sustainable budgets. However, beyond leadership and management expertise, nurse leaders need strong business acumen to appreciate the complexity of the system. Method Two groups, emerging nurse leaders and established health system leaders, were interviewed for their perspective on four elements related to business acumen. Results Business in healthcare was defined and therefore valued with variation across both groups. Adequate business education for nurse leaders was considered lacking by both groups. Inconsistent business acumen was seen as a barrier for nursing inclusion at the system level. Conclusions Business acumen is a skillset more valuable for the nursing profession than the current educational preparation allows, creating a reputational barrier for nursing's full participation in health system‐level leadership, but is considered an opportunity for the future. Implications for Nursing Management Improving the foundation business acumen across the nursing profession will not only raise the profile of nurse leader capability to input and influence across the health system but also improve the wider nursing team's understanding around nurse leader advocacy and decision making.