managerial skills in business essay

Managerial Skills: Types, Definition, Levels & Examples in Management

Managerial skills can be defined as certain abilities that a manager/executive should possess in order to fulfill specific tasks in an organization.

From the very beginning of the development of management thought, both management practitioners and researchers have emphasized different skills for managers.

Therefore, the list of managerial skills is very long. And various management authors and researchers have categorized managerial skills on the basis of levels of management and many other factors also. 

In this article, we have shared what are managerial skills? and the detailed discussion about the type of managerial skills with examples.

So let’s start with the definition of Managerial Skills.

Managerial Skills Definition

Managerial skills are Simply, Knowledge and expertise to fulfill some activities or tasks.

Managers must possess certain skills in order to perform management functions effectively. Skill refers to practical ability or expertness in a specific action or doing something.

This knowledge can be learned. However, it also can be acquired through practice fulfillment of these activities. Therefore, skills can be acquired through the learning and experience of individuals.

There are many definitions of skills that define it as some type of talent. Talent is something personal in an individual and represents a native gift from nature about something in that individual. All individuals cannot be artists. Usually, artists are born with the gift of art and after that, they develop their talent in quality art skills through educational systems.

Managerial Skills by Robert L. Katz

According to Robert L. Katz,

“if managers have the necessary management skills then they will probably perform well and be relatively successful.

On the other hand, if managers do not have the necessary management skills, they will probably perform poorly and be relatively unsuccessful in their careers.

There are three types of primary skills that are important for successful management performance.”

In 1955, Robert L. Katz published a book named “Skills of an Effective Administrator”. 

Managerial Skills Types

Katz has grouped various managerial skills into three broad categories in his book;

• Conceptual skills,
• Human skills,
• Technical skills.

Conceptual skills – A conceptual skills are Manager’s ability to work with ideas and concepts.

These skills enable executives to understand and better decide the actions that have to be taken in a particular field of work.

For example, managers use conceptual skills to take decisions and formulate strategies.

Human skills – This is a manager’s ability to work with people, understand and motivate them.

For example, managers use human skills to get along with people and to communicate and work within teams.

Technical skills – This is a manager’s ability to use tools, procedures, or techniques in his specialized area.

For example, using certain computer software packages (like; MS Excel or Access) is an advanced technical skill.

Must Read ➜ What is Planning?

Importance of Managerial Skills 

Managerial skills are very important in order to be an effective manager. Today’s business world is very competitive, hence it’s imperative that you possess much more skills than ever before.

Not every executive has all the skills that would make them highly effective managers. As the technological trend moves forward and the demand for grouped software and faster hardware increases, the skills that will be needed by managers will change rapidly.

In every business, there are different departments with different types of managers. With different managers come different protocols and required skills.

For example, the HR manager should have proper knowledge of how to conduct the recruitment process as well as he/she should have enough skills to select the best candidate for the vacant position. 

HR Candidate should have all three types of managerial skills to perform his duties. 

⦿ To formula policies, conceptual skills are required.

⦿ To taking interviews, human skills are required.

⦿ While filtering resumes of suitable candidates, good technical skills are required.  

If a Manager has good managerial skills then he influences and motivates his subordinates in every manner.

By developing good managerial skills, Managers will provide effective training to their employees and make proper coordination among their team. These managerial skills are equally important for all types of managers.

Let’s discuss all 3 managerial skills in detail. 

• Conceptual skills
• Human skills
• Technical skills

Conceptual Skills

Conceptual skills are related to concepts and mental conception. It is a conceptual framework intended to develop a new product and or idea.

Since conceptual skills are in the form of imagination. – chimerical, fantasy, or vision. Boulton has called these soft skills and is hardly visible in a person. 

Conceptual skills are also known as general management skills in an organization. It refers to the ability to see the whole picture to recognize significant elements in a situation.

For managers, conceptual skills are required for the following managerial job roles:

➤ Decisional Roles: Conceptual skills are required for making decisions, particularly non-programmed or strategic decisions. Non-programmed decisions are relevant for solving sudden problems in which various alternatives cannot be decided in advance.

For example, launching a new product, business expansion, and so on.

For making non-programmed decisions, various factors such as the business environment have to be taken into account. Environmental factors are quite dynamic and changes in these cannot be predicted easily.

Therefore, managers have to use their conceptual skills for broadly defining the likely change in contextual variables affecting decision-making.

➤ Entrepreneur: Conceptual skills are relevant for planning and building models. From an entrepreneurship mindset, a model is an abstraction of reality. It is a simplified representation of some real-world phenomenon.

Models are used in different fields, for example, economic models, business models, transport models, etc.

In management, models are used for difficult activities like business models. It shows how different business activities will contribute to revenue generation.

For constructing a model, information remains available partially and the gap is fulfilled by the model creator using his conceptual skills.

There are various examples of using conceptual skills in making non-programmed decisions.

Conceptual Skills Examples

In the 1980s, Hero Group of Ludhiana considered some new products in the personal transport product. They chose to add a four-stroke motorcycle which is not considered highly lucrative at that time as compared to the scooter.

Many professional people questioned the efficacy of this decision from Brij Mohan Lall (Founder of Hero Group). On this, Lall, the chairman of Hero Honda Motors replied that future personal transport will be dominated by motorcycles and not by scooters.

In the age of increasing fuel prices and speed-oriented transport, motorcycles would have an edge over scooters. 

We can see very easily how much true this perception has been. Presently, motorcycles have overtaken scooters by a big margin. And Hero Honda company has become the number one motorcycle manufacturer.

Must Read ➜ Human Resource Planning

Human Skills 

Human Skills also referred to as human relations skills or interpersonal skills.

Human Skills can be defined as one’s ability to work effectively with others on a person-to-person basis and to build up cooperative group relations to accomplish organizational objectives.

Management in process of getting things done with and through people and no manager can be effective without suitable human skills irrespective of his being technically and conceptually competent.

Human skills are required for the effective performance of the following Managerial Roles :

➤ Disseminator: Every manager disseminates and interacts on a daily basis with his superior, subordinate, and outsider. To make this communication effective, the manager must have good interpersonal skills so that he can understand others and make himself to be understood by others.

➤ Group Communication: Managers interact with others as a member of groups. Such groups may be constituted either formally by the organization in the form of various committees and workgroups.

A manager will be effective as a group member only when he has the ability to understand other group members and to make himself understood by these members.

➤ Empathy Monitoring: Every manager communicates with others frequently. These people may be from within the organization or from outside.

Every manager must have the ability to be ’empathic to understand others’ views in the right perspective as a good listener besides a good orator. This ability is very important for making communication effective.

➤ Leader: When a manager directs his subordinates, he does not only use his formal authority because of its obvious limitations but relies more on his leadership ability. By doing this he gets the willing and enthusiastic efforts of his followers for achieving organizational objectives.

Therefore, It is essential for a manager to must have emotional stability, empathy, objectivity, and the ability to influence others.

➤ Negotiator and Motivator: It is essential that managers motivate their subordinates properly, so the best result can be achieved. It is the responsibility of a manager to create such an environment in which people may have the perception that they will be able to satisfy their needs by working in the organization.

Therefore, the manager should be capable to understand the needs of his people and the way these needs may be satisfied.

➤ Disturbance Handler: Conflicts may arise in the organization between two persons, in the group, or between two groups. If such conflicts are not resolved amicably and within the given time frame, these may disturb organizational inefficiency.

Therefore, a manager must have the ability to resolve conflicts and disturbances appropriately. For this purpose, the manager must be a good compromiser, smoother and negotiator.

All the above human skills can be learned and developed by an individual or Manager by going through appropriate literature and practicing accordingly.

Must Read ➜ Management by Objective (MBO)

Technical Skills

Technical Skills are concerned with what is done, it shows an ability to use tools, procedures, or techniques in a specialized area.

These skills pertain to knowledge and proficiency in procedures, methods, and techniques which are used in doing work.

Matthew Boulton has called these skills hard skills and is easily visible in a person.

Technical skills learned by Accountants, Engineers, Managers, Operators, and other persons are developed by the actual practice on the job.

For example, the person who is responsible to maintain files and records in an organization must have technical skills relating to how files are maintained and he learns this through practice.

For managers, technical skills are required for the effective performance of the following managerial roles:

➤ Managers are responsible to maintain workflow in the organization. The workflow involves the initiation of actions, that is, who will initiate action and who will receive it.

For example, in an organization, one person gives materials to another person, initiation of action, and other people receive it. For directing workflow, managers must have technical knowledge of the work concerned.

➤ Managers are responsible to maintain order in the work system. that is there should be a place for everything and everything should be in its place. For maintaining an effective order system, the manager must have knowledge of the work systems and workflow.

Managerial Skills Summary

• Technical skills deal with things,
• Human skills deal with people, and
• Conceptual skills deal with ideas.

Every person has all these skills in varying proportions depending on the structure of his brain and the environment he lives in the case with managers.

Every manager is required to possess these skills in varying proportions depending on the nature of his functions.

Since managers at different levels perform different types of functions, as discussed earlier, managers at different levels require different skills. Generally, as one goes up higher in the organization level, one needs conceptual skills more.

Besides these three skills, various writers and researchers have provided other skillsets for various levels of management.

Top Management Skills

In the competitive world, much attention has been focused on the skills and their development in top-level management because it is the major driving force in an organization.

Osmond has identified 8 specific skills required for a top-level manager.

These are skills relating to; 

1. Balancing, 2. Integrating, 3. Setting priorities, 4. Setting and developing standards, 5. Conceptualizing, 6. Leading, 7. Matching oneself with one’s job, 8. Delegating.

A recent survey of 90 global chief executives, conducted by Anderson Consulting, a US-based consultancy firm, shows that the chief executives require 14 skills .

Accordingly, a chief executive 

1. Thinks globally, 2. Anticipates opportunity creates a sharped vision, 3. Develops and empowers people, 4. Appreciates the cultural diversity, 5. Teamwork 6. Partnership, 7. Embraces changes, 8. Technological savvy, 9. Encourage constructive challenges, 10. Ensures customer satisfaction, 11. Achieves competitive advantages, 12. Demonstrates personal mastery, 13. Shares leadership and, 14. Lives the values.

In the Indian context, one such study of 125 chief executives has identified various relevant personal skills like 

• Analytical skills,
• Creativity, sense of high achievement,
• Risk-taking aptitudes,
• Business aptitudes,
• Leadership;
• Job-related skills such as corporate perspective,
• knowledge of the external environment,
• Outside contracts,
• Planning process ,
• Accuracy in work

Middle Management Skills

In the middle management group, there may be managers at different levels placed between the top management and supervisors.

Usually, they are concerned with a particular functional area of the organization.

There is a tendency for faster movement of this group of managers.

Therefore, they require a variety of skills that must be relevant for their entire career. while at the lower end of the middle management, more technical and human skills are required.

Thus, the managers in middle management require

• Human relations skills,
• Leadership skills,
• Motivating skills, and
• Integrative skills.

Supervisory Management skills

Supervisors may also be further classified into front-line, intermediate, and senior.

Since they are directly concerned with operatives where the actual operations of the organization take place, supervisors should possess skills that help them to get things done by operatives.

Every supervisor in the organization should have sound technical knowledge of his field to provide;

• Proper instructions and guidance to operatives,
• Interpersonal skills to develop cohesive operative-management relations,
• Accuracy in work,
• Motivational skills for creating a proper work environment,
• Communication skills for interacting with higher management.

Assess Your Managerial Skills

Given below are the skills relevant for effective managers. Find out the extent to which you possess these skills. Degree of skill possession has been indicated by 3, 2, 1 for high, medium, and low respectively.

Management Skills Checklist For a Successful Manager

• Analytical Skill
• Ability to withstand pressure
• Emotional stability
• Communication skill
• Interpersonal skill
• Hardworking
• Sense of high achievement
• Risk-taking aptitude
• Business aptitude

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Managerial Competencies and Must-Have Skills

Introduction, definition of skills and competencies, human or interpersonal skills, external relations, internal relations, principles of human relations skills.

For managers to successfully manage and lead organizations, several managerial skills and competencies are a prerequisite. This essay seeks to briefly look at what managerial skills and managerial competencies are. Consequently, the author will nominate human skills and explain it further and show why human skill has been nominated.

A management skill is the competence than enables a manager to come up with corporate decisions, and direct junior staff in a corporation. There are three basic management skills. These include human or interpersonal managerial skills, conceptual managerial skills and technical managerial skills. Human skills refer to the capability to connect with and mobilize the junior staff. Conceptual skills refer to the capacity to understand ideas, develop them and execute strategies. Technical skills have to do with apprehension and aptitude in a particular field or business.

Managerial competencies include the ability to communicate, appropriate response to behaviour as well as tactful negotiation.

Human skills or the interpersonal skills have become really crucial in our times. Corporations may become even more technologically equipped; success in any organization will not solely depend on technology. The capacity of the staff to connect properly with colleagues, junior staff, supervisors, clients, suppliers and corporate partners propels organizations to succeed. In other words, human skills assist in team work, internal relations and external relations.

Team work, properly defined, is the process by which people in a group work collaboratively to achieve certain objectives. It is a very crucial aspect in any business and assists in the success of the business, when well articulated. Team work involves using the available individual competencies, giving back constructive feedback regardless of any existing personal conflict among members of the group. In other words, it is how group members give out their best in any situation.

Group works have a common task and team work is necessary if they have to achieve the set objective. For instance, most banks that offer credit must necessarily have a credit team that may be comprised of the sales executives, the credit officers, and their supervisors and in most cases the line manager. If such a bank will achieve its credit objectives of giving out low risk loans, the team members have work as a team. The sales executives will necessarily give out the right information on potential and new clients to assist the credit officers make the right decisions.

Increased work groups as well as team work is an aspect that has lead to a higher value of human skills. If team members have to work as a team, key human skills are needed. The capacity to listen and express respect in regard to other colleagues’ opinions shows how entrenched human skills are insofar as communication is concerned. Proper attitude and the capacity to convince team members to make logical and proper decisions afford an employee a great chance to assist his team more.

Each business has external stakeholders. These include the customers, the community, corporate partners and suppliers. Human skills assist the management as well as the junior staff to build associations with clients, lenders, supplies as well as the community at large. It is very crucial to become sincerely interested in the other people. Caring about the concerns of others is exhibited in ways like better listening, a genuine interest to serve and assist. Simple gestures like sending complementary cards to customers, participating in the welfare of the community are fruits of good human skills. The welfare is usually seen through corporate social responsibility.

The presence of active workplace affiliations has an important effect on output and general enjoyment of work. Employees who receive positive feedback from senior staff are usually in high morale to produce best results. Among other things, socialization is considered a primary human need. All these are enhanced by human skills. These skills enable the staff to build concrete, durable and healthy relations among colleagues at the workplace which in turn creates a pleasant and workplace with less stress.

It is very important when proper relationships are maintained at all levels and directions at the work place. Junior staff should calculate proper relationships with their supervisors by avoiding and forgetting past grudges for example. In addition, it is good to be a good listener especially during the firm’s meetings. Looking out for your senior’s positive characteristics is paramount. Above all, it is imperative avoid disrespectful acts towards your supervisor.

All these have been gained through own experience. Having been a junior staff at various workplaces, I have endeavoured to work harmoniously with my team mates as well as my supervisors. In my career, I intend to enhance proper working relationships for the benefit of all stakeholders and the consequent growth of the corporation. When everyone in the workplace is motivated through proper human skills, growth in all departments and individuals is always evident. The Skills-Based Leadership Theory of Robert Katz emphasizes that with proper human relations skills, anyone can become a leader.

In my picking of human skills several principles have guided me. Unlike the common assumptions, human relations are not a common sense. They are learnt over and over by understanding human behaviour. Failure to understand human behaviour has led to conflicts and loss of numerous jobs. Managers who do not take time or study human behaviour have hard time trying to supervise junior staff.

Secondly, human beings will never be irrelevant regardless numerous and dynamic technological advancements. Machines cannot assist you to ethically achieve your goals but human beings, through proper relations, can assist you. By learning human relations, you are able to surmount various challenges in future.

Third, diversity is key in enhancing human relations. Presence of different people with different backgrounds is inevitable in workplaces. Human relations skills enable one to deal with such diverse people.

In conclusion, I would like to look at the question of whether leadership is taught or it is an innate quality. Secondly, I would like to show how diversity is better than homogeny in a workplace. Lastly, I intend to show that human relations skills are the most important in comparison to conceptual and technical skills.

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10 Essential Managerial Skills and How to Develop Them

Discover the skills you need to be effective in a manager position and get tips for developing your managerial skills.

Effective management requires various key skills, from good communication and conflict management to strategic thinking. Knowing what managerial skills you need and how to develop them can help you become a better manager. This guide identifies ten essential skills managers need, clearly explaining what management is, why good management matters, and how you can benefit from being a manager.

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.

Empower teams with access to world-class content from 325+ top companies and universities

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.

Read more: 8 Management Styles in Business: Choosing the Best Fit

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

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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.

Next steps: Getting started with Coursera

To develop current management skills or pick up new ones, consider taking the Strategic Leadership and Management Specialization offered by the University of Illinois at Urbana-Champaign on Coursera. You'll learn how to build good relationships in the workplace, lead teams, and inspire employee motivation and engagement. You'll also discover principles, theories, and frameworks to help you manage employees more effectively and explore long-term business and corporate strategy. At the end of the course, you'll participate in a capstone project where you can apply everything you've learned and receive a shareable career certificate.

Develop leaders from within your workforce

Let's work together to build lasting leadership skills for your organization.

This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

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7.8: Managerial Skills

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7. What set of managerial skills is necessary for managerial success?

In order to be successful in planning, organizing, leading, and controlling, managers must use a wide variety of skills. A skill is the ability to do something proficiently. Managerial skills fall into three basic categories: technical, human relations, and conceptual skills. The degree to which each type of skill is used depends upon the level of the manager’s position as seen in Exhibit 6.8 . Additionally, in an increasingly global marketplace, it pays for managers to develop a special set of skills to deal with global management issues.

Exhibit 6.8 The Importance of Managerial Skills at Different Management Levels (Attribution: Copyright Rice University, OpenStax, under CC BY 4.0 license.)

Technical Skills

Specialized areas of knowledge and expertise and the ability to apply that knowledge make up a manager’s technical skills . Preparing a financial statement, programming a computer, designing an office building, and analyzing market research are all examples of technical skills. These types of skills are especially important for supervisory managers because they work closely with employees who are producing the goods and/or services of the firm.

Human Relations Skills

Human relations skills are the interpersonal skills managers use to accomplish goals through the use of human resources. This set of skills includes the ability to understand human behavior, to communicate effectively with others, and to motivate individuals to accomplish their objectives. Giving positive feedback to employees, being sensitive to their individual needs, and showing a willingness to empower subordinates are all examples of good human relations skills. Identifying and promoting managers with human relations skills are important for companies. A manager with little or no people skills can end up using an authoritarian leadership style and alienating employees.

Conceptual Skills

Conceptual skills include the ability to view the organization as a whole, understand how the various parts are interdependent, and assess how the organization relates to its external environment. These skills allow managers to evaluate situations and develop alternative courses of action. Good conceptual skills are especially necessary for managers at the top of the management pyramid, where strategic planning takes place.

CONCEPT CHECK

• Define the basic managerial skills.
• How important is each of these skill sets at the different levels of the management pyramid?

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10 Important Business Skills Every Professional Needs

• 23 May 2019

Understanding essential business concepts and tools can benefit all professionals.

For example, it’s critical for business owners to ensure all members of their organizations are equipped with skills like critical thinking, time management, and effective communication to ensure daily operations run smoothly and reach business goals.

Here’s an overview of why it’s important to improve your business skills and ten you should prioritize to advance your career.

Access your free e-book today.

Why Is It Important to Improve Your Business Skills?

A foundation in business can not only lead to greater confidence in the workplace but open the door to a myriad of career opportunities. For those who've broadened their knowledge by taking a Harvard Business School Online course , the experience has led to such outcomes as:

• More responsibility at work
• A promotion or title change
• Greater attention from recruiters
• The ability to transition into a new field

If you want to achieve similar objectives in your career, here are ten business skills you should develop.

Business Skills Every Professional Needs

1. an understanding of economics.

A baseline knowledge of economics can be valuable in any industry. In addition to an in-depth understanding of pricing strategies and market demand, studying economics can provide a toolkit for making key decisions at your company.

For Nicholas Grecco , a former CORe participant who works as an educator and healthcare administrator, the lessons learned in Economics for Managers were instrumental in helping his organization invest in solar energy.

“I knew investment in solar was a good opportunity, but the concept of willingness to sell (WTS) helped me to understand and explain why,” Grecco says. “Because of extra incentives from the city program and group purchasing power, the electrical contractors were willing to sell solar energy systems for a much lower price than usual, thereby increasing our consumer surplus. By explaining WTS, I was able to convince the owner to move forward with this project.”

Related: A Beginner’s Guide to Value-Based Strategy

2. Data Analysis Skills

Research shows that an increasing share of firms—including Microsoft, Uber, and Blue Apron —use analytics to generate growth and improve their services and operations.

According to LinkedIn, analytical reasoning is one of the most sought-after hard skills in today’s job market. Knowing how to summarize datasets , recognize trends, and test hypotheses can provide an analytical framework for approaching complex business problems and help you make informed decisions that benefit your firm.

“Using data analytics is a very effective way to have influence in an organization,” says HBS Professor Jan Hammond , who teaches the online course Business Analytics . “If you’re able to go into a meeting, and other people have opinions, but you have data to support your arguments and recommendations, you’re going to be influential.”

3. Financial Accounting Skills

Accounting know-how can be beneficial to your career, even if you’re not in a numbers-focused role. While it can seem like an intimidating subject, it’s far more approachable than you might think.

Concepts such as cash flow and profitability are useful for understanding your organization’s performance and potential, while knowing how to read and interpret a balance sheet is critical for communicating financial results .

Pankaj Prashant , an engineer who took CORe, says the principles he learned in Financial Accounting helped him build on his technical background and advance his career.

“I’ve been keeping track of my company’s annual reports, and the accounting that I learned helps me in understanding where the business may head in the future,” Prashant says. “I’ve also been tracking a few other companies for investment purposes, and I’ve realized I can make more informed decisions with my improved knowledge of company financials.”

Related: 7 Business Skills Every Engineer Needs

4. Negotiation Skills

Whether you’re just beginning your professional journey or operating at a senior level, it pays to be an effective negotiator. In a report by the World Economic Forum , negotiation was identified as one of the top 10 people skills needed to thrive in the future workforce.

Honing your deal-making skills can not only help secure value for your organization at the bargaining table but for yourself when advocating for a higher starting salary or raise .

There’s no one-size-fits-all approach to crafting a successful negotiation strategy . The key, according to HBS Professor Mike Wheeler , who teaches Negotiation Mastery , is to be open to improvisation and plan to think on your feet.

“However you happen to see yourself as a negotiator, most people you deal with likely have a different style, at least to some degree,” Wheeler says. “To succeed, therefore, you must be agile. That means flexing yourself so that you deploy different skills depending on the situation and whom you’re dealing with.”

Related: What’s Your Negotiation Style?

5. Business Management Skills

Strong managerial skills are intrinsically linked to organizational performance. A study by Gallup found that managers account for 70 percent of variance in employee engagement, underscoring the need for companies to develop leaders who drive team productivity and morale.

For seasoned and aspiring managers alike, it’s valuable to know how to lead meetings and communicate organizational change . Equally important is being aware of the common missteps team leaders make.

In the case of Monica Higgins , a public relations account director, taking the online course Management Essentials was a way to augment her managerial knowledge and develop a fresh outlook in her role.

“I'm more aware of looking at things through a larger lens, from a variety of perspectives,” Higgins says. “I've always been a fan of asking thoughtful, learning questions—as opposed to making declarations—and I'm now a big fan of playing devil's advocate.”

Related: 7 Effective Ways to Become a Better Manager

6. Leadership Skills

Whether you hold a management position or not, leadership skills are vital to workplace success. While some people think of leadership and management as one and the same, there are differences between the two . Whereas management is centered on implementing processes, leadership is more focused on the people and vision that guide change.

In addition to honing your management skills, building your leadership skills can be beneficial in any profession. From learning to keep calm during times of pressure to developing your own leadership style , these skills can help you understand how to bring your vision to life and position your team for success.

7. Effective Communication

In any business setting, professionals rely on communication to coordinate efforts and accomplish organizational goals. Ineffective communication—or a lack of communication altogether—can prove catastrophic.

Along with developing your skills, a large contributor to success is understanding and adapting to others' communication styles. Other key communication skills include active listening, empathy, and reading body language.

8. Emotional Intelligence

Emotional intelligence is another essential business skill, and research shows it’s a leading indicator of performance in the workplace. According to a study by TalentSmart , 90 percent of top performers have a high degree of emotional intelligence.

Emotional intelligence is commonly broken down into four concepts: self-awareness, self-management, social awareness, and relationship management. In short, this skill refers to your ability to understand your emotions and recognize and influence those of others.

No matter your industry or position, having awareness of yourself and those around you can enable you to have more control over your interactions and effectively accomplish goals.

9. Decision-Making Skills

All professionals need strong decision-making skills to navigate complex workplace challenges. For those specifically working in business or management, the need for such skills is even greater.

Determining how to allocate resources, which employees comprise a team, and how to implement a new organizational initiative are all decisions that need careful consideration. With the growing number of tools and resources that can be used to capture data, managers can fuel their processes with valuable insights to make data-driven decisions and generate better outcomes.

Related: 8 Steps in the Decision-Making Process

10. Networking

Networking is another critical business skill that all professionals should exercise.

Whether you want ideas or advice on a specific challenge or are preparing for a career change, the people who make up your professional network can be valuable resources.

Related: How Leaders Develop and Use Their Network

To make the most of your network, be open to opportunities to step out of your comfort zone and build new relationships. Once you have your network in place, it’s important to maintain relationships you’ve formed and find new ways to expand your web of contacts.

How to Improve Your Business Knowledge

If you aim to advance your career, the value of business skills can’t be overstated. In addition to hard skills (such as financial accounting and an understanding of economics), you need soft skills (such as emotional intelligence and leadership) as your organization grows.

No matter your industry, knowledge of essential business concepts can help you better understand your organization’s performance and acquire the tools needed to spearhead initiatives and drive strategic decision-making.

Do you want to take your career to the next level? Explore our online business essentials courses . Download our free flowchart to choose the right course for you.

This post was updated on August 19, 2022. It was originally published on May 23, 2019.

About the Author

Managerial Skills: Consulting Evaluation Essay

Introduction, a brief overview of lukoil oil company, consulting opportunities-mergers and acquisitions, benefits of forming mergers and acquisitions, stages of consulting, conclusions.

Bibliography

At a time when globalization and consumerism patterns have turned out to be the determining forces in the market, mergers and acquisitions among organizations are very critical in maintaining market capitalization, sustainability and subsequent development.

Consultants on mergers agree almost unanimously that the merging of companies is an important process that provides organizations with massive benefits.

From the study on mergers and acquisitions, Gurkov’s recommendations appear to cohere with those of other authors who indicate that the new entity easily reduces the non-constructive competition. 1

This paper presents a critical review of consulting opportunities in mergers and acquisitions with a focus on a Russian energy producer and oil company called Lukoil Oil Company.

Lukoil Oil Company is one of the major Russian energy producing companies that generates, explores and markets oil and gas within Russia, the United States and Europe. The company is privately owned and has a significant refining capacity.

Its shares are listed in the New York’s OTC market (LUKOY), London (LKOD), Micex (LKOH) and RTS (LKOH) in Russia. It is headquartered in Moscow with operations in over 40 countries across the world.

Filippov indicates that the company was founded in 1991 as a result of a merger among Kogalymneftegaz, Urayneftegaz and Langepasneftegaz.

Since its inception, Lukoil has been selling petrol in over forty countries globally and in 59 regions within Russia. 2 In 2009, the company had improved its reserves to about 9.3 trillion cubic feet of gas and 14.5 billion barrels of oil.

Figure 1: A diagram showing oil product sales by Lukoil Company

Lukoil Company has focused its major operations in Russia with several international expansions in zerbaijan, Uzbekistan, Venezuela, Colombia and Saudi Arabia. Its production of oil as well as its sales has been growing since the year 2000.

However, it has been faced by stiffer competition from other oil producers such as Exxon-Mobil. A merger is therefore an opportunity that will improve its efficiency, provide it with resources and information systems necessary for competitiveness in the global market arena.

Figure 2: A diagram showing oil production by Lukoil Company

Gurkov indicates that consultancy is a very critical aspect that involves acquiring and sharing information and knowledge that is very fundamental for business growth and development. 3

Due to the fast-changing business environment in Russia, top-level managers in oil companies with special emphasis on Lukoil are seeking consultancy services with an intention of aiding their businesses devise better strategies of overcoming organizational uncertainties.

This clearly indicates the enormous awareness among organizations on the need for change and intervene professional on business matters. 4

It is worth noting that identifying consulting opportunities play pivotal role in the contemporary Lukoil business environment as it identifies opportunities for operational improvement services, strategy development, technology implementation, development of coaching skills and management of change.

This is because it brings frameworks and proprietary methodologies which aid in identifying problems within a business and which serve as foundations and component parts for recommending efficient and effective methods of carrying out business activities.

According to Sarah and Day, the need for mergers by Lukoil is based on the holistic need to formulate a common unit which guides its operations through assimilation of common objectives. 5

A matrix structure is therefore critical and should be assimilated to harmonize the regional and as well as the functional core commonalities amidst the emerging competitors.

Since its formation, Gurkov credits the progress of the merger of Kogalymneftegaz, Urayneftegaz and Langepasneftegaz to the strategic management assimilated by the group company after 1991. 6

As the role of the committee of its managing directors shifted from planning to orient the future of the company with the different outsets, Gurkov argues that there was need to harmonize Lukoil’s operations to reflect the key objectives of the organization.

Merging with other companies will be critical in achieving the harmonization among other factors mentioned below.

Diversification and value consideration

The effect of merging with other strong companies will give its management a stronger grip and confidence towards approaching the fuel exploration outlook and marketing. There is need for Lukoil to articulate its goals from a common standpoint.

Besides, Gurkov indicates that coming together in a merger further creates a room for an expanded visionary orientation for the company. 7 A merger can be considered as a critical platform for addressing petroleum exploration and its marketing on a global scale.

Therefore, the efficacy of its operations through mergers will be enhanced and this will also provide it with an opportunity to venture into other products such as natural gas, plastics and real estate operations.

Resources consolidation

One key evident aspect in the operations of Lukoil company is the emphasis on resource consolidation. According to Sarah and Day, the ability of any organization to evaluate and create an avenue for resource consolidation is vital for success to be achieved. 8

Though it is clear that Lukoil’s operations can easily flourish due to the highly reduced level of competition, it is possible to view the extra hidden potential that could be harnessed by merging.

Through mergers, it will be easier to team up and fully utilize the newly opened markets while increasing its supplies to meet the different insatiable demands many countries have for oil and gas products.

Furthermore, the essence of the resources consolidation is the inherent ability to participate competitively in all countries.

According to Sarah and Day, resource consolidation will anchor its easy entry into new markets either through exploration or in marketing its products in Europe and the United States.

Consulting is a process that requires setting up stages which will ensure client satisfaction and success in business endeavors.

In pursuing the massive opportunities which are presented by mergers and acquisition, consulting on key facets is important in guaranteeing success. Some of the key consulting phases that should be explored include:

Entry and contracting

Entry and contracting is an important phase in a project since it largely deals with a client. Filippov indicates that this phase is critical in the sense that it enables an independent business owner or company to deal diametrically and precisely with a potential client. 9

Some of the key tasks that entry and contracting encompass include figuring and setting initial starters and specifying expectations. The latter is important for understanding various expectations that a client has.

This is imperative since it sets a benchmark for determining the success of the other stages and whether or not one is the right consultant.

Besides, entry and contracting is a stage where a consultant explores the problem a business is facing, and which in most cases is diagnosed in the first meeting.

One of the advantages of the initial phase is the fact that it builds a working relationship. According to Filippov, the latter is very critical in creating an understanding of a business expectations and needs. It also aids a consultant in clarifying what a business ought to expect. 10

Filippov posits that while this is a crucial step, it is affected by lack of good perspectives and mutual willingness by businesses to invest and work together.

As noted earlier in the case of Lukoil company’s merger plans, it may be impossible to achieve the diverse benefits in the absence of mutual trust.

Data collection and diagnosis

Sarah and Day indicate that while exploring the problems facing a business is carried out in the first stage, a consultant out to come up with situations relating to a particular sense of problem. 11 Gustov concurs with Sarah and Day by noting that creating a sense of problem is critical in adding value.

Consultants are therefore charged with the role of determining how to define a problem. This involves collection of data and diagnosing relevant problems.

The methods to be used in collecting data as well as the nature and type of data to be collected are very important variables that must be observed keenly.

One of the major opportunities of data collection and diagnosis is the ability to gather enough information on various business experiences.

This can be through methodologies such as impact/effort, brainstorming, SWOT analysis, force field analysis, meta-planning and focus group interviews. One such experience as discussed earlier is on mergers and acquisitions.

The information obtained is necessary in making critical analysis and relevant contributions. However, this process is normally affected by the inability of a company to avail, share and discuss information freely.

Feedback and decision

The data assembled on the opportunities presented by mergers and acquisitions present the diverse views stakeholders have on the issue.

A project owner in an organization is presented with the analysis of the information from feedback which seeks to create a deeper understanding of the problem.

Filippov indicates that feedback in consultations or any study is critical in identifying the context of an issue, its causes and consequences. 12

In terms of forming mergers and acquisitions, feedback is important in determining performance issues and or challenges that the move may have on a business.

Mergers and acquisitions have been known to strengthen businesses especially in cases where operation risks are extremely high for a single business entity to withstand.

Feedback and diagnosis is normally faced with the challenge of impacting on a business process. Filippov indicates that different managers or teams react to feedback in diverse ways. Besides, instances of rejection or resistance to projects are commonplace.

Training on how to handle both negative and positive feedback is critical in ensuring mutual understanding and that various challenges are effectively tackled.

Implementation

Deciding the way forward after a diagnosis is important in developing problem solving processes and devising possible action strategies. Some of the most common methods include being creative and innovative when dealing with issues and re-contracting responsibilities, roles and actions.

As the name suggests, this stage is mainly for organizations to carry out. However, consultants may be involved in ensuring the success of efforts. The challenges facing implementation is lack of required resources, commitments and desire for change.

Recycle, extension or termination

Finally, after evaluating the issues concerned, decisions are made to terminate the project or extend it. According to Filippov, the latter may follow an implementation process whereby the real picture of an issue is seen.

The success of an implementation may call for recycling and creation of new projects while moderate to high failure may call for termination. 13 This process is important in determining viable and legitimate consultation practices as well as providing learning experiences.

To sum up, managerial skills are important leadership requirements that are critical in combining capacity, expertise and knowledge in specific areas of operations.

As noted in the discussions, consulting is one of the key areas where a business can be able to obtain relevant information and assistance on business projects.

The paper explored Lukoil company and noted that it should merge with others in order to improve its overall performance, expand its products and compete favorably in the already competitive global market arena.

Gurkov, I, “Strategy techniques for the times of high uncertainty”, Journal for East European Management Studies, vol. 15, no. 2, 2010, pp. 177-186.

Filippov, S, “Russian companies: the rise of new multinationals”, International Journal of Emerging Markets, vol. 5, no. 3, 2010, pp. 307-332.

Sarah, EAD & M, Day, “Leadership, administrative heritage and absorptive capacity”, Leadership & Organization Development Journal, vol. 28, no. 8, 2007, pp. 727- 748.

1 I Gurkov, “Strategy techniques for the times of high uncertainty”, Journal for East European Management Studies, vol. 15, no. 2, 2010, pp. 177-186.

2 S Filippov “Russian companies: the rise of new multinationals”, International Journal of Emerging Markets, vol. 5, no. 3, 2010, pp. 307-332.

3 Gurkov p. 177

5 EAD Sarah & M Day “Leadership, administrative heritage and absorptive capacity”, Leadership & Organization Development Journal, vol. 28, no. 8, 2007, pp. 727-748.

6 Gurkov p. 179

8 Sarah and Day p. 730

9 Filippov p. 310

10 Ibid p. 312

11 Sarah and Day p.740

12 Filippov p. 312

13 Ibid p. 312

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Personal and Management Skills

Introduction.

Managers in the 21 st century should have the necessary skills which will enable them to be effective in discharging their duties (Harrison, 2005, p. 7). According to me, effective management is necessary for an organization to succeed. Management is concerned with getting people together to accomplish goals and objectives that will make the organization succeed in the long term. All efforts by managers should be geared towards the accomplishment of goals. To have good resourcing engagements, managers are supposed to manipulate and deploy the right human resources.

I noted that in a broad perspective, management is a human action that is tasked with facilitating the achievement of good outcomes. For managers to manage others well, they are supposed to, first of all, manage themselves. This will give them a good overview of how they are supposed to relate with employees.

In the 21 st century, it has become challenging to subdivide management into viable functional categories. This is because the process of managing is more involving (Ones, 2008, p. 14). Besides, some various objects and tasks are related to management.

It occurred to me that currently various management approaches have been adopted by different organizations. This has been done about the skills that an organization wants to achieve. There have been criticisms of the management approaches that organizations have taken to build the right skills (Hatch, 2006, p. 14). Workplace democracy is being advocated as a way of involving all employees in management. On the other hand, it is being argued that all workers in an organization are supposed to be involved in management through delegation of activities and duties.

In doing this, each worker is expected to play his/her role well to ensure that the general wellbeing of an organization is well taken care of. These issues are supposed to occur naturally rather than being forced on an organization. The management is supposed to embrace democracy so that workers can give the organization the necessary support (Kenneth, 2003, p. 18). If this is not done, they will on most occasions leave to join other organizations, or still, they can decide to paralyze activities through strikes.

On the other hand, it occurred to me that although there has been a big step towards democratic practices in many organizations, the command and control organizational approaches can still be seen in this 21 st century. This means that the common and most widely practiced organizational structures are still embraced by many managers. To elaborate on this, it is evident that managers today still value the command and control management approach. This is demonstrated from the layoffs that are being done (Robbins, 2004, p. 4). The most affected are those in management levels.

Employees in lower levels of management have not been affected because they are not directly tasked with specific undertakings. In extreme cases, the management has gone on to get rewards through a pay hike after laying-off some of their junior employees (Hoover, 2002, p. 17). To me, this tries to explain various dynamics that managers have to look at in a bid to enforce the right personal and management skills that will ensure that organizations function well. Working in groups or teams is paramount in an organization and, as such needs to be given the attention it deserves.

I feel that personal and management skills should be well nurtured to ensure that an organization does not have any negative issues which will lead to a bad working environment. This is because they define the relationship that will exist between employees and the management (Ones, 2008, p. 17). For success, there is a need to have a good working relationship through personal and management skills. The 21 st century has witnessed various business structure changes, which have been a challenge for the development of personal and management skills.

Personal and management skills are supposed to be well developed. Personal skills are necessary for proper interaction between employees in an organization (Craig, 2009, p. 9). In my own opinion, they are communication skills that employees use as they undertake their activities. They have to be involved as they will include delegation and leadership that form part of an organization. Good personal skills are defined from the way one relates to the other as they undertake their activities within a company (Craig, 209, 13).

To me, these personal skills are aimed at ensuring that one develops skills that culminate into the attainment of certain results or effects. This means that results will only be guaranteed if there is a proper framework to support these endeavors (Kotter & Cohen, 2002, p. 21). Personal skills are supposed to make one comfortably operate within a business organization with good interactions and social communication. On the other hand, the main concern is how people relate to one another. Communication within an organization will reduce conflicts that are bound to exist.

As far as am concerned, this is likely to increase the level of employee participation in the affairs of the organization. It is as far as the completion of tasks assigned to an individual is concerned. There are occasions when someone might want to obtain information from the other within an organization, and, in this case, it is advisable that the right avenues of obtaining information be used (Kenneth, 2003, p. 7). When this is done it will be easy to improve on the way one relates to the other. By using the right personal skills, it will be viable and attainable for an employee to make a good judgment about the issue.

To explain further, tasks should be done more effectively to attain a predetermined goal. Regarding personal skills, priority should be given to the issues that will guarantee employees the freedom to independently judge what they think is good for their work (Kenneth, 2003, 9). The long term effect will be an increase in the quality of interaction among employees. With such a good approach it will be easy to achieve better professional results.

Generally, professional results will make one be referred to as a good professional in the specific area that they are tasked with. This is as far as ensuring that the organization achieves its results are concerned (Rae, 2000, p. 12). Personal skills in business organizations are supposed to be adopted by managers in both formal and informal settings.

With good personal skills within an organization, it becomes much easier to increase the general products that can lead to the organization succeeding. Productivity will be increased in the sense that the number of conflicts will be reduced significantly (Rae, 2000, p. 16). When conflicts are reduced, it gives employees enough time to focus on delivering results that will go concurrently with organizational goals. In informal situations, it will allow for good communication to take place. This communication will be easy to be understood and used by all employees in an organization.

I think that managers are supposed to have good personal skills because they are in charge of the organization. This will allow them to control their feelings even in difficult times and situations that demand a critical approach. Personal skills are self-management skills that each organization in the 21 st century is supposed to have (Hatch, 2006, p. 14). This is necessitated by the role that such skills play in the overall success of a given organization. Various approaches can be used to ensure that the organization has the best and most acceptable personal skills.

From my analysis, management operates within various and different functions that have an outcome on the performance of an organization. This is as far as deciding how the organization will move ahead is concerned. Motivation is a basic function that an organization has to achieve as it will have a bearing on how employees perform their roles to produce results (Hatch, 2006, p. 17). Employees generally perform well when they are motivated as they will be working with a good expectation.

Working in groups and teams has many challenges that have to be met. This is in both frontiers as there are positive and negative challenges that an organization will face because it has many employees. Employees have different characters, and they might be conflicting. This has to be well appreciated by the management as it will help to come up with the right working mechanisms. Handling a team or group is very complex and should be looked at critically (Ones, 2008, p. 21). Even those who are working amongst themselves are supposed to have good ways of relating.

Employees will always find themselves working in teams or groups as this is the only way that results can be achieved. However, while working together to achieve organizational goals they always face challenges as far as personal and management skills are concerned (Ones, 2008, p. 27). Management skills are supposed to come in handy and make working together in groups a very good experience. This will help to build their inner capability and enhance the delivery of results.

As a fact, management skills are needed by managers for efficiency in an organization. These are the skills that a manager has to master in a bid to become successful in whatever they do in an organization. Management skills have the capability of building on each other with the solemn intention of ensuring that there is success in an organization (Robbins, 2004, p. 9). They are supposed to translate into a good working environment that will ensure that the organization is on course of achieving its objectives and goals.

To be successful, there are various skills that managers need to embrace in a bid to ensure that they achieve their goals. This is because they have a bearing on how people work together in teams and groups (Robbins, 2004, p. 12). The approach used to manage workers has a positive or negative impact on their general morale and working attitude. Managers are supposed to relate well with their employees so that they can be able to deal with their experiences in a very efficient way.

In my view, these management skills build up each time an individual moves up the management ladder. This is because at each level there are various tasks that a manager is exposed to (Scott, 2006, p. 5). Skills are always distinct at each level because there are various expectations on how things have to be carried out. Success will only be achieved after the incorporation of the necessary skills at each management level. The main aim should be to ensure that working as a team is more efficient and effective.

I feel that organizations have many expectations as far as the attainment of goals is concerned. In the 21 st century, shareholders have high expectations from employees to deliver results. This has always called for a review of how business is conducted. The main aim has always been to ensure that they are competitive in the business environment (Scott, 2006, p. 8). To ensure that an organization attains its goals, managers have been creative to find out the best ways that employees can harmoniously work together to deliver results.

Working together harmoniously should be guided by principles that will enhance efficiency. Efficiency will be attainable when all employees and the management appreciate each other (Scott, 2006, p. 13). Appreciating each other will be possible if they accept that they have different talents and capabilities. This is the only way that an organization can cultivate a good working environment. A good working environment will be built by the principles that employees stand for in an organization. This is meant to come up with a collective way of doing things.

Personal and development skills are developed in an organization. No one acquires all the necessary skills by knowing. This means that skills have to be nurtured by an individual. Various approaches can be used to nurture skills that individuals need to discharge their roles well. This should be done systematically to ensure that individuals end up with the right outcomes that were desired (Tompkins, 2005, p. 5).

I feel that when one has been given a management role, they are supposed to ensure that they harness employees together so that they can be more creative. Creativity is a result of the right skills that managers will use in an organization. There are various occasions where management skills can help to bring out the right creative capabilities (Tompkins, 2005, p. 17). In extreme cases, these skills can also hurt the creativity that employees can bring out.

In my view, skills management is more concerned with understanding what others are capable of doing. In doing this their capabilities in skills are supposed to be developed to get the best outcome possible (Kanigel, 1997, p. 14). When looking at personal and management skills, various gaps should be noticed and filled. This is meant to ensure that the management and employees relate well in discharging their roles in an organization.

Personal and management skills should be an ongoing process that will be geared toward individual assessment. For managers to perform their roles well, they are supposed to be well endowed with the necessary skills either way that they will attain them (Kanigel, 1997, p. 18). Skill development should be aimed at ensuring that people interact well with each other in an organization. This is as far as working together is concerned.

As much as managers might want their employees to deliver results as organizational goals demand; they are supposed to interact well with them so that they can have a close working relationship (Kanigel, 1997, p. 22). This is meant to make it easy in identifying weaknesses that should be dealt with. An organization is expected to have weaknesses and challenges that impact its performance and that is why these skills are needed for efficiency.

Managers are supposed to understand abstract relationships and then come up with the best way of initiating ideas that they will use to solve problems (Simon, 1997, p. 3). In a broad perspective, skills are needed by these managers to view things in an organization with a broad outlook. Even in planning and coming up with ideas, skills are necessary for overall success. Those in the low levels of management need skills to manage their areas of specialty well.

Even managers are supposed to communicate well amongst themselves so that they can be able to speak in one voice (Simon, 1997, p. 7). This is because the organization depends on its direction to know where it will move to. When they communicate in one voice it will send a good signal that they appreciate each other.

Employees will be expected to follow suit and ensure that they do not become a hindrance towards the organization achieving its goals. For success, they are supposed to know the skills that they are expected to poses (Simon, 1997, p. 15). In cases where there is a gap in skills; they are supposed to come up with the right way of filling it.

Management skills

They are supposed to be well developed for an organization to be successful in attaining results and positive outcomes (Richard, 1976, p. 9). In this case, they are supposed to be well nurtured and developed to their maximum potential. For managers to deliver the best business breakthroughs, they have to think straight and ensure that they develop a fact-based insight.

I think that managers are supposed to be more effective in how they use their skills for a good outcome. This means that they have to do the right thing that will guide them towards the best goals. Emphasis should be laid on the most important issues rather than looking at the urgent ones (Richard, 1976, p. 15). On the other hand, there should be more concentration on coming up with real decisions. This will have a general impact of ensuring that an organization concentrates on delivering its goals.

Management in the 21 st century has become more complex, and managers are increasingly using technology in business (Bradford & Burke, 2005, p. 21). Changes in economic dynamics and globalization have brought in a new trend of management from all dimensions. Managers are therefore expected to act in a strategic way that will help them to establish good values and act in a responsible way that will be appreciated by everybody in an organization.

Generally, managers get things done in the right way by delegating roles to other people in an organization. For them to undertake this role well, they are supposed to poses the relevant skills that will ensure that this is achieved without any problem (Bradford and Burke, 2005, p. 25). They are supposed to associate with the employees and help them to make the right decisions in solving work-related challenges that an organization might be facing.

In, addition they are supposed to ensure that they use the right procedures and tools that will smoothly lead to the attainment of organizational roles (Bradford & Burke, 2005, p. 28). This should also be done by using the right tools that will come up with the smooth running of an organization. The best procedures should be followed to ensure that what had been anticipated is achieved.

From a broad perspective, management skills should be inner built whereby from a personal level one should be able to offer him/herself greater achievements. A personal working method should be embraced for effective management to take place (Smith, 1998, p. 12). It is because it is a standard model that can be used to achieve effectiveness in an organization. In this case, there should be a general belief that everybody within an organization is ultimately doing the right thing. This, therefore, means that managers have to critically analyze a problem to ensure that a decision is critically executed.

These skills are the secrets for effective leadership by any manager in a given organization. Besides, it is an ability that varies in different people who assume managerial roles (Smith, 1998, p. 16). Although skills are readily available to the manager; what varies is the intensity that they will be achieved. To achieve goals and results, a manager has to lead, organize, and control whatever is at their disposal.

In my own opinion, human resource is the most important asset that managers have at their disposal to help them achieve organizational goals. On the other hand, the managers in charge of this resource are supposed to be up to the task of taking care of it (Smith, 1998, p. 22). There are various management skills available to managers, and they must embrace them. They include; leadership skills, technical skills, communication skills, interpersonal skills, and decision-making skills.

Leadership skills

Effective leadership skills are necessary skills for the 21 st -century manager. It is argued that in possessing these skills a person should be able to guide, motivate, and lead the rest of the team (Nadler, 1984, p. 16). This should be enhanced by providing the rest of the team with the necessary resources that they need to be successful. As far as leadership skills are concerned, a manager will have to be aware of all the weaknesses and strengths of the employees.

I think that this will help in ensuring that they are allocated tasks according to their capability. Although they can be members of the same department, they have different abilities about how they can perform their work. To achieve this, employees must be highly motivated and empowered so that they can act independently (Nadler, 1984, p. 23). It is because there are situations that will always demand that certain decisions be taken. A manager must pose these skills to be successful in their undertakings.

Technical skills

Many organizations have embraced technology in their operations. This has redefined how various tasks and activities are conducted. Many organizations depend on software and computers to run their activities (Nadler, 1984, p. 25). It is a trend that most managers have been forced to adopt for them to be competitive in the market. Therefore, it means that a manager should have adequate knowledge and skills in computers.

This should be well fused with the common management skills that make individuals successful in their undertakings as managers. On the other hand, a manager is supposed to have general know-how of using different tools and equipment that comes along as they discharge their duties (Nadler, 1984, p. 26). Technology has brought about various approaches to management which is necessary for an organization to achieve its goals and objectives.

According to me, there are various charting and scheduling techniques that managers need to ensure that they relate well with employees. With these new approaches, a manager will be able to monitor and check on the organizational resources that are needed for proper organizational control (Nadler, 1984, p. 28). This will give them a proper framework to discharge their activities. Employees are also using technology in their activities and as such should also be well acquainted with the current trends.

Interpersonal skills

This means that in management, a person in charge should be well appreciated by employees and fellow managers. They should be capable of working with people who have different temperaments (Landale, 1999, p. 6). The same should be extended on how the manager will deal with them. It is often difficult to deal with people who have different educational qualifications and backgrounds. This is because they have their own beliefs that they tend to understand better.

Therefore, managers have to understand that such employees are bound to exist and should be appreciated. This means that a better framework for doing things should be embraced. Team members have different things that can motivate them to be at their best. It is the responsibility of a manager to try and find out the best ways that they can use to find out what best motivates their employees (Landale, 1999, p. 9). A good manager and team leader should be able to build better relationships with their subordinates.

In my view, these relationships should be able to lead to an outcome of fair dealings with employees. By dealing with all employees fairly, an organization will not have many conflicts. It is understood that conflicts slow down the pace of work, and if they are avoided more energy will be directed towards the perfection of one’s roles (Landale, 1999, p. 11). Fair dealings are meant to eliminate any ill feelings that might arise among employees. Working in groups should be aimed at bringing a good relationship. In the long run, there should be team building in an organization.

Decision-making skills

Decision making is very important in an organization. It is because it is from decisions that an organization can prioritize its goals and objectives (Diane, 1995, p. 4). Although most of the decision making is the role of managers, employees are also supposed to participate in coming up with the best decisions (Diane, 1995, p. 6). It is because decisions bind everybody in an organization and should be followed and complied with in all circumstances. Decision making mostly goes in line with problem-solving.

An organization is bound to face problems in its operation. It is only via effective decision making that such problems will be solved. Problem-solving has to follow an elaborate framework that will ultimately end up with a decision on how the problem will be solved (Diane, 1995, p. 9). Decisions in an organization have to be made from different perspectives. This is because decisions have to be made about people/human resources.

Certain situations and procedures might also force an organization to act in a given manner as a way of working together. This, therefore, implies that the right decisions have to be made as far as these situations are concerned. Managers will be compelled to always arrive at the best decisions as they are in charge of organizations (Diane, 1995, p. 13). A good manager is supposed to weigh various options that are available to him by looking at the pros and cons of certain alternatives. In a normal situation, either option that a manager has at their disposal is bound to have some certain pros and cons. This, therefore, means that there should be a clear analysis that will result in a good decision being made as far as problem-solving is concerned.

A manager is supposed to be a fast thinker in all circumstances. It is because problems cannot be anticipated in advance (Diane, 1995, p. 16). Also, there are cases where a given situation might demand that a decision be made as fast as possible to save the organization from any problems. In such circumstances, it is only fast thinking managers who can be able to act early enough and solve the problem by making the right decisions.

In thinking that for an organization to succeed; it is a requirement for decisions to be made in the right way. In cases where decisions are not made in the right way, an organization is bound to face problems. This implies that managers have to always think straight in the best interest of the organization and also be creative to make the right choices and decisions (Smith & Miani, 2004, p. 4). Tough times in business call for tough decisions to be made and it’s only the right decision-makers who will survive.

An environment that facilitates good decision-making should be allowed to thrive in an organization. Good decisions will be made after everybody has been involved in the process that will settle on the best alternative option (Smith & Miani, 2004, p. 7). By involving everybody in making decisions, there are various inputs that employees will help to put in and thus reinforce given decisions and options. To make this successful, managers are supposed to be critical of how they carry out their activities.

A good employee should be calm in a working environment to facilitate good decision making. Maintaining calmness will mostly be aimed at facilitating the making of the right decision (Smith & Miani, 2004, p. 16). This situation is guaranteed to make one more effective in weighing various options that are available to them.

Communication skills

Communication is the only way through which people can understand each other in an organization. This means that an organization is supposed to have the right frameworks in place, which will promote understanding amongst employees and the management (Harrison, 2005, p. 3). Various organizations have different ways of communicating, which should be incorporated by individual employees. Communication is a skill that individuals have to possess to be more strategic in relating to others within an organization.

A manager who is good at communicating will be able to explain to his/her employees what should be done to ensure that goals are achieved. It is through communication that individuals will be explained their jobs and tasks and in the process come up with the right avenues by which they can increase productivity (Harrison, 2005, p. 6). Working together means that individuals are a team and, as such should work together collectively to ensure that there is success.

For a team to move ahead together they should be able to communicate in the same way. This means that they should not send mixed signals that will raise questions as far as some situations are concerned. Employees are supposed to harmoniously work together so that they can achieve organizational goals (Harrison, 2005, p. 9). As much as a manager has to be a good communicator they are also supposed to pay back by listening to others. This will help them to seek other people’s opinions.

In the long run, an organization will be able to communicate well. This means that a good manager will be able to appreciate opinions that come from subordinates. Subordinates can contribute immensely by giving some ideas that will end up being beneficial to the whole organization (Harrison, 2005, p. 12). When managers develop this important skill, they will be able to earn loyalty from team members. On the other hand, this is bound to motivate employees and make them more productive as they will enjoy their work.

Multi-tasking skills

Multi-tasking is the ability to handle many tasks and roles at a given time. It does not necessarily mean that one will be a workaholic, but it will help to increase efficiency (Hoover, 2002, p. 13). This will help to increase creativity and improvisation. Multi-tasking in a working place will ultimately lead to employees developing their skills by identifying their strengths and weaknesses.

To me, effective identification of strengths and weaknesses will enable employees to come up with the best ways that they can use to capitalize on their capabilities for efficiency. Multitasking is a natural progression and will lead to other levels within an organization. It is also set to benefit employees as they will now be able to do things they were not used to before (Hoover, 2002, p. 15). It is a skill that every employee should seek to acquire as a way of improving quality.

It is a skill that everybody should seek to master and make their roles more effective and manageable. Organizations have more expectations and this is why multitasking should be embraced (Hoover, 2002, p. 17). The pace of life in workplaces has changed considerably. It is one of the reasons why organizations are being encouraged to advise employees to try multitasking. This skill enhances the ability of an organization to coordinate many events at a given time.

Personal skills

Personal skills should be aimed at ensuring that an organization operates effectively. This means that everybody must be aware of the necessary personal and group practices (Miner, 2005, p. 4). Employees are supposed to act by what their work ethics demand of them for a good working environment. Personal management skills demand that an individual is supposed to be responsible.

Responsible behavior is expected of individuals who work in a team/group. This is supposed to set goals and priorities that will propel an organization to success. From a personal point of view, employees are supposed to manage and plan their time well (Miner, 2005, p. 7). This will enable them to use the resources at their disposal well to ensure that they deliver on their expectations.

Working in an organization presents many challenges. Employees are pooled from various areas and as such have different characters. This diversity in characters should be well understood for a good working environment to exist (Miner, 2005, p. 4). As much as this is concerned, individuals are supposed to be accountable for their actions. What is done by a team member should be accounted for by the group or team?

In my own opinion, employees are expected to be socially responsible in their team. Social responsibility helps to make employees more understanding, which enables them to build a good relationship that is necessary for any given organization (Rae, 2000, p. 6). In the course of working together as a team, it is expected that individuals will be able to adapt to any environment. This means that they have to be highly innovative and more resourceful.

It is expected that they will be able to come up with the best ways they think an organization’s goals can be achieved. On the other hand, this will be enhanced by learning from their own mistakes and being able to willingly accept to be corrected. To achieve this, they are supposed to be open-minded in whatever they do (Rae, 2000, p. 19).

This report has enabled me to have a better understanding that managers should be effective in the management process. To attain this, they should understand their employees. I have noted that this will give them a good overview of how they are supposed to relate with employees. In the 21 st century, it has become difficult to subdivide management into viable functional categories (Tompkins, 2005, p. 16). Notably, this arises from the fact that the management process of managing is involving. Besides, some various objects and tasks are related to management.

On the other hand, I have noted that personal and management skills should be well nurtured to ensure that an organization does not have any negative issues which will lead to a bad working environment. This is because they define the relationship that will exist between employees and the management (Scott, 2006, p. 16). For success, there is a need to have a good working relationship through personal and management skills. In the course of the report, I have discovered that the 21 st century has witnessed various business structure changes, which have been a challenge as far as the development of personal and management skills is concerned.

According to my, these skills are supposed to be well developed. It is because personal skills are necessary for proper interaction among employees in an organization. I believe that they are communication skills which employees use as they undertake their activities. They have to be involved as they will include delegation and leadership that form part of an organization (Scott, 2006, p. 26). It is because good personal skills are defined from the way one relates to the other as they undertake their activities within an organization.

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Original text

Are you a college graduate looking to carve out a successful career in the bustling world of business? If yes, the journey might seem daunting at first. However, the right educational courses can set you on a path toward achieving your professional aspirations. But what exactly are these courses, and how can they help bridge the gap between academic achievements and real-world business success? This article dives into several key courses that are essential for any college graduate aiming to make a mark in the business sector.

Business Fundamentals

At the heart of any business career are the foundational courses that introduce you to the basics of business operations. Courses in Business Administration provide a comprehensive overview, teaching you about everything from operations management to strategic planning. Economics courses offer insights into market dynamics and economic principles that drive business decisions. Furthermore, a solid understanding of Finance is crucial, as it equips you with the skills to manage business? 

If so, you're probably wondering which path will lead you to the golden gates of your dream job. It's a vast arena out there, with countless opportunities and just as many challenges. How do you equip yourself to not just navigate, but also thrive in such a competitive landscape? The answer often lies in choosing the right courses that can act as a launchpad for your career. This article delves into various courses designed to prepare college graduates for a flourishing career in business, detailing how each can be a stepping stone to professional success.

First things first: understanding the core of business operations is crucial. For those eyeing a career in business, starting with the basics is key. Courses in Business Administration offer comprehensive insights into the workings of businesses, covering everything from operations to human resources. Similarly, a solid foundation in Economics can equip you with the understanding of market dynamics and economic principles that influence business decisions. Then there's Finance, a critical area for any business graduate, which focuses on managing money, banking, investments, and financial markets. These courses not only provide essential knowledge but also make your resume more appealing to prospective employers.

Digital Skills and Technologies

In today's digital age, businesses seek graduates who are not only savvy with traditional business skills but are also adept in the latest technology. Digital Marketing courses teach you how to leverage social media, SEO, and content marketing to attract and retain customers. Then there’s Data Analysis, which trains you to interpret and use data effectively to make informed business decisions. Mastery of these digital tools and techniques is often what sets apart successful modern business professionals from their peers.

The use of technology in Education is also a plus

In today's competitive specialist market, students who are adept at utilizing innovative services such Papersowl for their academic tasks are particularly prized. These students often make requests do my essay to secure assistance with their complex college assignments, a strategy that demonstrates their proactive approach to problem-solving. This skill is not just about tackling educational challenges; it translates directly into the ability to resolve business issues as well. Therefore, the capability to employ technologies such as those offered on the intranet to navigate and solve problems is highly valued. This proficiency indicates a readiness to handle real-world tasks in various professional settings, making such students top candidates in their fields.

Leadership and Management

As you climb the career ladder, leadership and management skills become increasingly important. Courses in Leadership Development and Strategic Management are designed to prepare you for senior roles, teaching you how to inspire teams and manage resources effectively. These courses often include real-world case studies and simulations, providing practical experience that can be directly applied in a business setting. Whether you aspire to be a team leader or a top executive, these skills are indispensable.

Entrepreneurship and Innovation

For those who dream of starting their own business or injecting innovation into existing companies, courses in Entrepreneurship are invaluable. These programs encourage creative thinking, resilience, and strategic planning – all crucial for launching and sustaining successful ventures. Additionally, courses that focus on Innovation Management can help you understand how to foster and implement innovative ideas within a company, driving growth and competitiveness.

Industry-Specific Skills

Depending on your career goals, you might also consider industry-specific courses. For instance, if you're interested in the healthcare industry, a course in Healthcare Management can provide you with the specialized knowledge needed to manage healthcare facilities. Similarly, courses in Retail Management teach specific strategies for succeeding in retail businesses, from inventory management to customer service. Tailoring your education to a specific sector can dramatically enhance your expertise and employability in that area.

Embarking on a career in business is an exciting journey filled with opportunities for growth and advancement. By choosing the right courses, college graduates can significantly enhance their job prospects and prepare for a dynamic and successful career. Whether it's gaining a solid foundation in business fundamentals, mastering digital tools, developing leadership skills, fostering innovation, or specializing in a specific industry, the right education can set you on a path to success. Remember, the most important step is the next one – choose wisely and pave the way for your future in business

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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

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• Swagatam Basu,
• Atrijit Das,
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Nearly half of all managers report buckling under the stress of their role and struggling to deliver.

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• Jonah Shepp is a senior principal, research in the Gartner HR practice. He edits the Gartner  HR Leaders Monthly  journal, covering HR best practices on topics ranging from talent acquisition and leadership to total rewards and the future of work. An accomplished writer and editor, his work has appeared in numerous publications, including  New York   Magazine ,  Politico   Magazine ,  GQ , and  Slate .

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