What is management?

In business, management refers to supervising employees and overseeing day-to-day operations to

meet an organization's goals and objectives. Managers need to have a deep knowledge of their
particular industry, which means having some level of business expertise.

How does good management benefit a company?

Good management helps ensure an organization's success in several ways. These include:

Planning: Good managers plan strategies to achieve company goals.

Organization: Good managers know about company resources and how to allocate them.

Direction: Good managers know how to direct and motivate employees.

Control: Good managers ensure employees execute tasks and make changes when needed.

What are some benefits of being a manager?

No matter what industry you choose, being a manager has certain benefits. Typically, managers get to
enjoy the following benefits:

Get to be involved in making important decisions at work

Enjoy some control over what work they do and when and how they work on it

Spend a good deal of time in collaboration with other people and working with teams

Enjoy opportunities for job-related learning and development

Have many options for career advancement within or outside of the workplace

Receive a good salary and benefits

What Are Management Skills?

Management skills are applied to a broad array of functions in areas like production, finance,
accounting, marketing, and human resources.

Common components of management in different arenas include: selection, supervision, motivation and
evaluation of staff, scheduling and planning of workflow, developing policies and procedures, measuring
and documenting results for a group or department, solving problems, developing and monitoring
budgets and expenditures, staying abreast of trends in the field, collaborating with other staff and
departments, and leading and motivating employees.

Types of Management Skills

Most management skills are related to six fundamental functions: planning, organizing, coordinating,
directing, leadership, and oversight.

Management Skills

Planning

Individual managers may or may not be personally involved in drafting company policy and strategy, but
even those who aren’t still must be able to plan. You might be given certain objectives and then be
responsible for developing ways to meet those objectives.

You may need to adjust or adapt someone else’s plan to new circumstances. In either case, you’ll have
to understand what your resources are, develop timetables and budgets, and assign tasks and areas of
responsibility.

Note

Aspiring managers should volunteer to help their current supervisors with phases of departmental
planning in order to hone their skills.
Planning programs for professional societies is another way to develop and document planning abilities.
Mastering planning software, like NetSuite OpenAir, and project management software, like Workfront,
can prove that you're able to tap technology that's instrumental to sound planning. College students
should take on leadership positions with campus organizations to hone their planning skills.

Organizing

Organizing generally means creating structures to support or accomplish a plan. This might involve
creating a new system of who reports to whom, designing a new layout for the office, planning a
conference or event, building a strategy and planning around how to move through a project, or
determining how to move toward deadlines or how to measure milestones.

Aspects of organization could also mean helping leaders under your guidance to manage their
subordinates well.

Note

Organization is about planning and foresight, and it requires an ability to comprehend the big picture.

Identify processes, procedures, or events related to your department that could be improved, and
demonstrate that you can re-design processes to create greater efficiency or enhance quality. Document
procedures in a manual or spreadsheet for future use.

Leadership

The best managers are typically inspirational and effective leaders. They set the tone for their areas by
demonstrating—through their actions—norms for staff behavior.

Note
Effective leaders often lead by example as much as by direction. Motivating others to action and
productivity is a crucial element of effective leadership.

Clear communication of goals and expectations is also vital. Good leaders seek input from all
stakeholders and recognize the contributions of other team members, and they give credit where credit
is due. Good leaders draw consensus on group plans whenever feasible, and they delegate strategically
to the best-qualified staff.

Coordinating

Managers must know what is happening, what needs to happen, and who and what are available to
accomplish assigned tasks. If someone is miscommunicating, if someone needs help, or if a problem is
being overlooked or a resource underutilized, a manager needs to notice and correct the issue.
Coordinating is the skill that lets the organization act as a unified whole.

Coordination across departments and functions is also essential to a well-run organization that presents
a unified face to constituents.

10 skills every manager should have

Managing companies and employees effectively takes a specific skill set. To build your managerial
expertise, consider attaining these skills:

1. Ability to delegate

As a manager, the ability to delegate can offer you a variety of benefits. First, sharing tasks with others
saves you time at work and reduces your stress levels. Delegating also engages and empowers your
employees, helps build their skill sets, and boosts productivity in the workplace.

2. Ability to inspire and motivate

Employees depend on managers for support and guidance. By providing goals and objectives and a clear
vision for how to meet them, you can keep employees motivated to perform their best. Other ways to
inspire and motivate employees include finding ways to make work more engaging and rewarding and
providing positive and helpful feedback.

3. Conflict-management

Workplaces typically have occasional conflicts, so knowing how to navigate them makes managing
easier. This skill involves identifying the cause or causes of conflicts and coming up with quick and
effective remedies.

4. Decision-making

Decision-making involves identifying an issue, weighing options, and taking action. The ability to make
decisions can save time, boost productivity, build trust, and reduce confusion in the workplace.

5. Effective communication

Being a manager involves interacting with people regularly. On any given day, you might run a staff
meeting, make a presentation to board members, or resolve a conflict between two employees. In
addition to conveying information, listening when communicating is essential. Practicing good listening
helps you be present, maintain eye contact, and paraphrase what your speaker says.

6. Emotional intelligence

If you can manage your emotions and help manage the emotions of others, chances are you have
emotional intelligence. Emotionally intelligent managers often have empathy for others, a sense of self-
awareness, an ability to think before speaking or acting, and a high degree of resilience.

7. Flexibility

Roadblocks pop up in any workplace, and good managers know how to get around them. Flexibility
involves finding multiple ways to manage a team, complete a task, or solve a problem.

8. Organization

As a manager, you may have much to handle at once, including tasks, reports, meetings, projects, and
presentations. Good organizational skills can help. These include goal setting, scheduling, time
management, and recordkeeping.

9. Problem-solving
Problem-solving goes hand-in-hand with decision-making. The process involves identifying a problem,
weighing solutions, choosing the best one, and evaluating whether or not it works. Managers who are
good problem solvers have an easier time meeting company goals and objectives.

10. Strategic thinking

Managers who can strategically think offer great value to companies. Strategic thinking involves the
following:

Analyzing data to come up with strategies

Creating strategies for meeting company goals and objectives

Thinking of ways to implement strategies

Directing others in the completion of goal-related tasks

Communicating the results to company stakeholders

Ways to develop managerial skills

Gaining new skills or improving the ones you have can help you be more successful in a management
position. Whether you're a current manager or hoping to become one, consider these tips for
developing management skills:

Seek advice and guidance from a mentor.

Read books about management theories, techniques, and styles.

Think about areas you need to improve, set goals, and take steps to achieve them.

Go back to school and get a certificate or a degree.

Attend industry-related training, conferences, and workshops.

Practice skills like active listening, delegating, and organization.

Join a public speaking group or take a public speaking or business writing class.

Look for opportunities to be a leader at work, home, class, or through volunteering or sports.
Develop people management skills.
You’ll ideally concentrate on developing specific people management skills. By focusing on specific
competencies, you can build higher competency levels in each area compared to a general competency
approach. Enrolling in professional development courses is a great way to learn new management
techniques and improve your existing skills.

You might also want to find a mentor or business coach to guide you on competency gaps and how to
refine them. Asking other managers for feedback or advice is another great way to learn more about
yourself—and what you need to do to improve as a manager.