...Business Management Skills To run a successful business you need a diverse range of business management skills. When you start your business it’s likely that your responsibilities will include: sales and marketing; accounts; human resources; and information technology (IT). How confident do you feel in your ability to manage them? It’s a good idea to plan ahead of time how you’re going to manage each area which may include delegating various functions to a business partner, undertaking additional training or contracting a specialist advisor such as a bookkeeper, graphic designer or merchandiser. Remember that although you need to understand, manage and take responsibility for every aspect of your business, you don’t have to do everything yourself. Some of the key areas you’ll need to think about are outlined below. Marketing, sales and promotion Marketing is more than just selling and promoting your business. It's about identifying your customers and working out how to get them to purchase your product or service. Go to Marketing for more information. Human resources Human resources is about managing and looking after your staff. If you’re buying an existing business or taking on a franchise you may find that you’ve got employees to manage before you even start your business. Understanding business financials The primary objective of any business is to make a profit. Good financial management is essential to ensure your goal is achieved. The first...
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... BSBA-BM 1A PRINCIPLES OF MANAGEMENT Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management is the act or skill of controlling and making decisions about a business. Management is the way of something is handled, careful treatment, supervising skills, or those in charge of a business or a group. Manager a person who controls the activities, business dealings and other aspects of the career of an entertaines. Manager is a person responsible for supervising and motivating people. *What are the task, roles, skills of the manager* Management Task #1: Coaching One of the most important management task is coaching. Managers must be the persons who will show to their subordinate or team members the right direction where the organization will need to go. They are simply instructors and trainers. Management Task #3: Change Agent The whole change process must be planned and managed if you want to bring desired results. Managers in the same time must ensure that the company will continue with the current level of success and prepare to implement change that will bring future success. Management Task #4: Forecasting the Future Forecasting is another managerial task that will provide a picture of how the future will look like from the business perspective. This managerial task is very important, because...
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...objective of this Management Aptitude Questionnaire was to identify your present level of management skills and to see what level of management would best suit your personality. You will learn the difference in the three categories of management skills and to identify the position that potential managers would likely be fit for. There are three levels of managers which are Top Managers, Middle Managers, and First-Line managers. All managers must have three necessary skills in order to be effective and efficient in and organization which are Conceptual skills, Human skills, and Technical skills. The top-level managers require more conceptual skills and less technical skills. The lower-level managers require more technical skills and less conceptual skills, and all managers require a high level of human skills in an organization because they all have to interact with people. “Many managers get promoted to their first management jobs by having excellent technical skills. However, technical skills become less important than human and conceptual skills as managers move up the hierarchy” (Daft, 2012, p.11). Human skill should be the most important in an organization to avoid a high employee turnover due to poor communication, coordination and motivation techniques. Results The results were: Conceptual skills total score = 28 points Human skills total score = 22 points Technical skills total score = 15 points The results showed a higher total for conceptual skills followed by...
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...Executive Summary The aim of this formal business report is to analyse a number of aspects of business management using a successful existing company. This report is based on a one of the world’s leading Information and Communication technologies company-Fujitsu LTD. The report includes a brief introduction of Fujitsu, to get more familiar with the company, its approach and activities. The report also includes an environmental analysis (SWOT), to see what are the strengths and weaknesses of Fujitsu LTD., and what opportunities and threats is the company facing. The research investigates 3 organisational goals that are planned to be reached in future and cascades the through the various business departments and levels-finance, marketing, human resources and operations. In this report we examine three different plans that Fujitsu has implemented over the past five years. From the research we observed that Fujitsu uses its own management philosophy, called Fujitsu way and we examined this approach through various points. In the report we reviewed how conceptual, human and technical skills are used in Fujitsu. We also considered how staff should be motivated in Fujitsu in order to reach the overall organizational goals. We conducted our research using various resources, such as ITB Library, Business Sources Premium and Emerald databases, Company’s website and Internet. Table of Contents Executive Summary i Table of Figures iv Table of Tables iv Introduction 1 ...
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... BSBA-BM 1A PRINCIPLES OF MANAGEMENT Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management is the act or skill of controlling and making decisions about a business. Management is the way of something is handled, careful treatment, supervising skills, or those in charge of a business or a group. Manager a person who controls the activities, business dealings and other aspects of the career of an entertaines. Manager is a person responsible for supervising and motivating people. *What are the task, roles, skills of the manager* Management Task #1: Coaching One of the most important management task is coaching. Managers must be the persons who will show to their subordinate or team members the right direction where the organization will need to go. They are simply instructors and trainers. Management Task #3: Change Agent The whole change process must be planned and managed if you want to bring desired results. Managers in the same time must ensure that the company will continue with the current level of success and prepare to implement change that will bring future success. Management Task #4: Forecasting the Future Forecasting is another managerial task that will provide a picture of how the future will look like from the business perspective. This managerial task is very important, because...
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...managerial skills, such as technical skills, which is an ability to perform specialized tasks; human skill, which comprise the ability to work well with other people; Conceptual skill, which is the ability to analyze and solve complex problems. According to the organizational behavior theory, Manager operates a company with a management process, the process fulfill four functions, which involves planning, organizing, leading and controlling. Moreover, Henry Mintzberg described how managers enact the management process in a busy, hectic, and challenging work context where they are move among many tasks and face many interruptions. Mintzberg classified all the context into ten roles. During the management process, Mintzberg’s ten roles of effective managers perform in different functions with distinct essential managerial skills. Planing is a manage process that to set organization objectives and formulate the way to achieve them. Specifically, manager need to make an organization goal as well as the actions people should execute in the course of realizing team goals. In the planing function, Corporate needs monitor seek informations about the future business, then, informations are transported by disseminator to employees. After that, entrepreneur will analysis these informations with technical skills and to decide whether the program is feasible and how to achieve the business target. Organizing is the second step in the management process....
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...Managers in all organisations at all different hierarchical levels of management perform all management functions which are planning,organizing,;leading,coordinating,and controlling( Stoner e t all,2007;35).Therefore, it is of paramount importance for managers ,to posses certain skills which are needed for their functions to be successful but not necessarily in the same proportions.Moreso,the basic managerial skills includes technical ,conceptual and human skill. Definition of key terms Managerial skills The ability to make business decisions and lead subordinates within a company(business dictionary). So, managerial skill is best understood as the ability to perform managerial tasks effectively with readiness and agility (IMM Journal, 2012). Skills requires knowledge and ability to apply that knowledge competently and efficiently has to be acquired by practice. Therefore, levels of management in an organisation can be presented in the form of the pyramid in variation with the level of importance Diagram by Gaurav Akran,management 2011,online lower-level managers are also called operational managers or supervisors such as: Office manager,shift supervisor.They are responsible for the daily management of line workers—the employees who actually produce the product or offer the service. Lower level managers exist in every work unit in the organization. Although they typically do not set strategic goals for the organization,usually have a very strong influence...
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...LECTURE ONE Management and Organization Learning Outcomes • Explain why managers are important to organizations • Tell who managers are and where they work • Describe the functions, roles, and skills of managers • Describe the factors that are reshaping and redefining the manager’s job Why are Managers Important? • Organizations need their managerial skills and abilities more than ever in these uncertain, complex, and chaotic times. • Managerial skills and abilities are critical in getting things done. • The quality of the employee/supervisor relationship is the most important variable in productivity and loyalty. Who is the manager? • “Tim Carver is a sales manager. He was promoted to this position four months ago. Tim spends four days a week on the road calling on customers and helping his people sell. During this time his secretary runs the office. On Friday Tim returns and works on problems that have come up during the week. “ • Is Tim a manager? Who is the manager? • “Mary carren is an associate administrator at a local hospital. Mary spends approximately 20 percent of her day working with administrator, 40 percent handling administrative paperwork, and 40 percent meeting with department heads to discuss operational problems and ways of dealing with them. Except for the occasional times when she attends national professional meetings or training programs, Mary’s time is spent at the hospital. “ ...
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...Performance Management Plan Damon Perry HRM 531 July 5, 2014 John Henderson Performance Management Plan Creating a framework for performance management includes taking the steps to ensure that Landslide Limousines is a successful business venture. A performance management plan is an essential tool for a company to use as a structured interaction between a manager and a subordinate. It provides the opportunity for the individual success of all its employees, and the longevity of the company. Below are recommendations that Atwood and Allen consulting feels should be utilized to maximize the potential of Landslide Limousine. Performance Management In order for any business to become successful it is important for companies to implement a performance management framework. An effective framework allows the company to ensure goals are met, and internal decisions are made based off of employees work performance. Performance management aligns with the business strategy because the business strategy displays the vision and goals set by the company, and the performance management framework is another tool. This framework is also useful in measuring and ensuring goals are understood, and employees are given the best chance to succeed and help the business achieve its goals. (“Performance Management Framework”, 2013). To put together an effective management plan, you must include the five steps to an effective performance management plan: (1) setting expectations, (2) continuously...
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...Hughes Chapter 1 1. Management is directing other people to work as a team to accomplish one desired goal. It’s hard to grow and maintain a business without management. A manager’s job isn’t to do the work that has to be done, it’s to help their employees stay on task and efficiently accomplish their goal for the company. 2. To be a successful manager, there are five functions you need to perform. Planning is the first important function. Managers need to be able to plan what their goals are and how to fulfill that task as efficiently as possible. Being organized is another important function, deciding who will do what and when it needs to be done is essential in completing their desired goal. Another function managers need is leadership, being able to motivate and inspire others to work hard is very important to help achieve their tasks. Controlling is the last function of management, managers need to set certain standards for their employees. They compare how that employee’s performance is and if their measurement doesn’t meet the managers’ standards, they have to make changes to accomplish the goal efficiently. 3. A company needs different kinds of managers, each having different responsibilities and doing different jobs. Top managers such as Chief Executive Officers (CEOs), Chief Operating Officers (COOs), Chief Financial Officers (CFOs), and Chief Information Officers (CIOs) are responsible for monitoring their business environments and are accountable...
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...Mark Steckle seem to lack in management skill are the collaboration skill or human skills. Collaboration skill or human skill is essential skill to building strong relationship with the rest of the colleagues and provides solution to problem occurred. Being as a middle level management it is important to have collaboration skill as one man army will not take you anywhere, manager however still need to depends on others’ cooperation to maintain the position or do better in the firm. Having a good relationship will help the management level to reduce conflicts with the others. Mark is clearly setting a barriers to keep a distance from the rest as he is business minded with a purpose of bringing profits to the company and get recognition from Mr Teddy.K, CEO of Globecom organization. Besides that, Mark did not provide any solution or strategic plan to the company to keep the company improve. Middle management levels are required to provide a strategic and develop plan for the company and help the team to achieve the goal and result in better product or services performance. Besides that Mark Steckle is unable to provide motivation to the rest of the team. Motivation is define giving positive feedback to the employees of their contribution for the company. Motivation play a main key to keep the organization going as it is maintaining the employees to stay happy and self-fulfillment as their performance had paid off. Or in other perspective, management level able to motivate the...
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...University Regulations on cheating, plagiarism and collusion. I declare that this piece of work is my own and does not contain any unacknowledged work from any other sources. I authorise the University to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor copying my work and storing it on a database to be used in future to test work submitted by others. Note: The attachment of this statement on any electronically submitted assignments will be deemed to have the same authority as a signed statement. Signed: | Date: | Junleong: What are the most important management skills Tony Hsieh practices in successfully leading his team at Zappos? The very first significant management skill that Tony Hsieh...
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...Case study This case study is about the computer virus hunter’s at Symantec Corporation. Symantec Corporation deals with the antivirus software. The product provides protection against harmful contents for the computer. Q 1. Keeping professional excited about the work that is routine and standardized and chaotic is major challenge for Vincent Weafer. How could he use Technical, Human and conceptual skills to maintain an environment that encourage innovation and professionalism among the virus hunters? 1. Technical Skills: a. He provides security storage and system management solution. b. The work never stopped to maintain efficiency. c. When Santa Monica’s team finished, then Tokyo took over, this handed over to Japanese then to Dublin and back to Santa Monica. 2. Human skills: a. Coaching and monitoring the works. b. Networking outside the organization. c. Working in a team to solve the problem. 3. Conceptual skills: a. Using information to solve business problem. b. Discover the problem and finding solutions. Q 2. What management role would Vincent be playing as he (a) had weekly security briefing conference calls with coworkers around the globe, (b) assessed the feasibility of adding a new network security consulting services, and (c) kept employees focused on the company commitment’s to customers? (a) According to the study by Henry Mintzberg managers have different but highly interconnected roles. According to this we can say that Vincent...
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...Performance Management Plan Ahmad Jaradat HRM 531 November18, 2013 Dennis Cashman, Ph.D. MEMORANDUM TO: Traci Goldman FROM: Ahmad Jaradat DATE: November 18, 2013 Subject: Performance Management Plan Regarding your request, I am tasked with formulating a performance management plan for Bradley Stonefield. As I understand, Mr. Stonefield is creating a Limousine company in Austin, Texas. His goal is to have 25 employees within the first year of operation. The performance management plane is being developed to ensure the success of this business. Introduction A good performance management system works towards the improvement of the overall organizational performance by managing the performances of teams and individuals for ensuring the achievement of the overall organizational ambitions and goals. An effective performance management system can play a very crucial role in managing the performance in an organization (Performance Evaluation, 2013). For Mr. Stonefield’s new business, this plan is necessary to guarantee that his organization’s goals are going to be achieved. Performance management is the systematic process of; planning work and setting expectations, continually monitoring performance, developing the capacity to perform, periodically rating performance in a summary fashion, and rewarding good performance (US Office of Personnel Management, 2013). Planning Planning is setting performance expectations and goals for groups and...
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...EPG SHRM Foundation’s Effective Practice Guidelines Series Building a High-Performance Culture: A Fresh Look at Performance Management By Elaine D. Pulakos, Rose A. Mueller-Hanson, Ryan S. O’Leary, and Michael M. Meyrowitz Sponsored by Halogen Building a High-Performance Culture: A Fresh Look at Performance Management This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Neither the publisher nor the author is engaged in rendering legal or other professional service. If legal advice or other expert assistance is required, the services of a competent, licensed professional should be sought. Any federal and state laws discussed in this book are subject to frequent revision and interpretation by amendments or judicial revisions that may significantly affect employer or employee rights and obligations. Readers are encouraged to seek legal counsel regarding specific policies and practices in their organizations. This book is published by the SHRM Foundation, an affiliate of the Society for Human Resource Management (SHRM©). The interpretations, conclusions and recommendations in this book are those of the author and do not necessarily represent those of the SHRM Foundation. ©2012 SHRM Foundation. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system or transmitted in whole or in part, in any form or by any means...
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