The advantages of business management skills
Every individual within an organisation needs to develop their skills to make a business succeed, business managers in particular. Business management skills need to be developed to their full potential if a manager, and therefore his or her team and the organisation, is to be successful. Management comprises planning, organising, staffing, leading or directing, and controlling an organisation (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Many managers and supervisors are promoted into management because they were good in their previous position. Typically they jump into their new supervisory position without any training or prior experience at managing people, and discover how or how not to manage people through trial and error. Supervisor skills are often learnt by experience, some of which can cause pain and embarrassment.
Almost every entrepreneur who establishes their own business is satisfied in their own mind, that they have the business management skills necessary, to effectively manage and operate a growing business. Yet, in the common causes of business failure, poor management is usually rated in the top three or four most cited reasons, as to why so many start up businesses fail, the article 'Management skills are crucial to good business management' reports.
Among the most important business skills you can possess is the ability to think straight and develop the fact-based insight which produces business breakthroughs. Another attribute which all business managers should strive to develop and deploy is ‘effectiveness'.
The famous management guru Peter Drucker made the vital distinction between ‘efficient' and ‘effective' business skills. Performing an activity swiftly and economically is efficient, while doing the right thing well is effective. The wrong thing, however, is ineffective by definition. Good business management skills guide you towards the...