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The first step toward becoming an excellent manager is to recognize the power of the business tools at your disposal. Own them, tweak them, use them wisely and thrive!

     Business Management Skills 

Business management skills are powerful tools in the hands of the manager. Regardless the company you work for or the size of the team that you manage, these skills  make you thrive as a manager.

The traditional definition of management is limited to "the process of working with and through others to achieve organizational objectives". A manager's four core areas of competencies are: planning, organizing, directing, and controlling.


Planning is a big part of business management skills. A manager that can plan is one that has the ability to make things happen. Planning involves scheduling activities, assessing, analyzing,  setting goals and objectives, allocating resources, shaping strategies and timelines. As a manager you need ensure that each goal translates into an activity and that each activity helps meet that goal.

Strategic planning is a critical element of  the managers "planning process". The role of the manager is evolving beyond "the daily operational business". Managers are becoming visionary leaders for their organizations, they landscape future directions, facilitate important relationships to maintain reputation and sustainability.
 
Directing is establishing and communicating particular,detailed action-plans to meet goals and
objectives.

Organizing and controlling are two additional business management skills required to be successful in the business world. Organizing involves compiling and coordinating the resources and such as human,monetary and other tangible and non-tangible assets, in order to trace activities needed to achieve goals. further, it entails assigning and delegating tasks to various team members to complete certain tasks and make things happen. Organizing properly can help you choose appropriate members of the team to work on specific projects.Choosing the right people for the job can help you be successful.

The controlling task ensures that work-plans are being implemented and goals are attained by overseeing and evaluating performance. The concept of controlling has evolved together with  manager's role. Nowadays, controlling consists of monitoring progress by providing guidance and support to the employees.

Other valuable business management skills:

More and more companies are requiring that managers display a broad range of competencies as opposed to technical skills (hard skills).Soft skills are fundamental to your successful functioning as managers. Good work ethics, sound and positive attitude, eagerness to learn, cultural sensitivity, fine business manners and values have huge influence on employees, stakeholders and organizational setting. If you are looking to improve the organizational culture, you cannot do it without tackling attitudes, point of views and soft-skills. Social liability is based on attitudes and soft-skills. Cooperation within the agency as well as a healthy, transparent work environment is based on attitudes and soft-skills.

Related Articles:

Basic Management Skills

Management vs Leadership

Importance of Communication

Effective Business Communication

Definition of Bussiness Communication

What other Business Management Skills are Important?

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Management Terms

Decentralization -
pushing power and decision making downward.

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