Not many businesses make it past the 5-year thresh hold. Businesses that eventually do and succeed, might be doing something others aren’t, which could be proper management of the organisation’s affairs; an important part of running a company. This can make or break any business be it a small or large business body. So what are those 7 managerial skills that keep you and your company in business?
The management of a company’s affairs at the top level affects everything from employees to the public’s opinion of the company. A manager must possess the necessary skills that make him fit for a job of this magnitude. A manager must be knowledgeable in certain aspects of business: knowing when to criticize, encourage, motivate, or even let go of some staff. It is all for the betterment of the company.
Knowing these managerial skills brings us to who a manager is, what is expected of him & why his word is the law.
Management skills are certain attributes or abilities that an executive should possess to fulfill specific tasks in an organization. The executive in this regard is none other than the manager. He is in charge of navigating the company through a crisis by promptly solving problems when they occur. A manager can develop some of these managerial skills through training and practical examples.
Although, it has been a long debate between if managers are born with these managerial skills or made through certain conditioning. Irrespective of this, the most important thing is for them to possess corporate acumen. These necessary management skills help managers to relate with their co-workers and pick the best ways to deal with their subordinates, which dictates the working relationship between managers and employees.
A manager-employee relationship is paramount to the success of the company. Which would have a multiplier effect, hindering the success and growth of the company. A manager is responsible for the decision-making of the firm. He/She is also responsible for the organization achieving its goals and objectives. And a manager who applies management skills in his everyday lifestyle can propel the company’s mission, vision, and business goals forward, avoiding obstacles from internal and external sources.
His role involves;
- Time management
The importance of a good manager or good management cannot be overemphasized but a manager must possess these management skills.
i) Technical Skills
Managers use a variety of techniques to achieve their objectives. The ability of a manager to be analytical matters a lot in business. These skills involve operating machines and software, operating pieces of equipment, production tools, marketing skills needed to boost sales, and designing different types of products and services. A manager must not hide behind his employee’s abilities to handle these duties. He must first be aware of anything and everything that goes on, giving him the level of control needed to keep the business running.
ii) Human/Interpersonal Skills
The importance of these skills lies in the effective execution of conversation-related activities between managers and employees. Employees are more interested in working with organizations that care about them. Therefore, employees are an important aspect of a company. So a manager’s ability to interact effectively with the employee’s matters and can affect their performance. These skills enable the managers to more often, utilize a humane approach in relating with employees and also motivate them where necessary for better results.
iii) Concept-Based Skills
These skills task the manager to come up with abstract and creative ideas. The manager creates an entire concept, addresses problems that come with it, and creates solutions.
Let’s now look deeper into the type of skills Managers need to possess to best prepare them to spearhead a company, how does he apply them in the day-to-day running of the business?
Here are 7 managerial skills that a manager must possess to keep you in business.
7 Management Skills
1) Building Relations
A great manager can relate with his employees enough to understand each employee’s strengths and weaknesses. That way he creates business strategies that take these characteristics into consideration like delegating responsibilities to employees that are best suited for it. This makes the job easier with every employee working in his/her full capacity.
2) Ability To Inspire Others
The Wolf of Wall Street is an American movie about buying and selling stocks in New York City. Leonardo Di Caprio played the role of a young man with a strong drive to make money who also possessed a strong skill to affect others positively. Before trade begins each day, he gets his staff in the right mood. This worked effectively in making him, and his firm, successful. Why the example using the wolf of Wall Street? The power of certain managerial skills especially this, is best in its application. A manager must be ready to inspire his employees, and when things are not going to plan, he cheers them back to victory.
An ever-changing, unpredictable & sometimes difficult environment surrounds the business. Day-to-day operations are affected by internal & external sources. And some days may not just go according to plan. When this happens the best approach is to adjust and keep going. Managers need to drive this perspective.
When people are recognized for brilliance in work-related tasks, it makes them want to do more. This is in a manager’s favour, because if people want to be recognized their work must speak for them, then managers can easily identify such employees. Employees at all levels want to feel appreciated for the extra mile they go to achieve results, and this recognition shouldn’t be until the end of a certain quarter but with each event when necessary.
5) Strategic Thinking
Knowing how ever-dynamic a business environment is, managers need to always think of ways to defeat the odds. With technology and other processes created to make work easier and faster, managers need to always be strategic in their thinking to edge past competitors.
6) Constructive Criticism
Managers should have a diplomatic sense of engagement. He can take an employee aside to correct him/her about certain things they are doing wrong. But corrections should be done in a strategic manner as it would be unfortunate if you make an employee look stupid for one mistake, neglecting their other achievements. The company could lose valuable staff, so be productive with criticism.
7) Effective Communication
A healthy working environment also involves healthy communication between managers and subordinates. A manager should avoid behavior that makes employees scared of them. Though a level of respect is desired, managers who take pride in striking fear in the hearts of their employees should know that this approach can bring companies down. If people are scared of you, they cannot offer observations, suggestions, solutions, or identify problems.
These 7 skills to keep you in business can make a difference. No company wants the news to spread of its employees quitting due to the attitude of a bad manager, which could, sooner or later, ruin the company.