What is Management?
Management has been defined as the art of getting things done through the efforts of other people.
What Business Managers Do
As the manager of a business, you will perform a number of tasks. Here are twenty things you might have to do:
- Formulate business objectives and develop strategic plans.
- Make projections.
- Allocate tasks to others.
- Acquire resources for the business.
- Participate in meetings and run staff meetings.
- Communicate with persons inside and outside of the business.
- Motivate workers.
- Train employees.
- Oversee projects.
- Set a good example for employees.
- Set and regulate working hours.
- Coach and counsel staff.
- Appraise workers' performance.
- Hire and discipline staff.
- Support staff.
- Organize staff development.
- Build work teams.
- Resolve conflicts.
- Implement decisions.
- Initiate change.
Categories of Skills Business Manager Needs
- Conceptual: general analytical skills
- Technical knowledge: competence to perform work
- Human relations: understand, motivate, and work with others
Essential Business Management Skills
- Planning and goal setting
- Decision-making
- Accounting know-how, financial and money management
- Human resource management
- Production management
- Marketing
- Communication and business negotiation
- Computer literacy
- Time and stress management
- Networking
- Creative problem-solving and conflict management
- Conducting effective meetings
- Team building
- Leadership
Common Characteristics of Effective Managers
- Willingness to work hard
- Perseverance
- Determination
- Willingness to take calculated risks
- Ability to inspire enthusiasm
- Courageous
Common Mistakes Business Managers Make
- Showing favouritism
- Always criticizing but never praising
- Having no clear standards
- Giving unclear assignments
- Failing to build trust
- Neglecting employees' training and development
- Refusing to keep workers informed
- Failing to recognize and appreciate individual differences
- Thinking they have to do everything themselves
- Failing to understand his/her role as manager