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NLU Effective Business Management Skills

4 Effective Business Management Skills

How to develop critical management skills

A business manager wears many hats, so it's important to develop effective business management skills across many areas. Four of the the most critical and effective skills a business manager needs include:

  • Delegation
  • Communication
  • Time management
  • Various 21st century management skills

Business Management Skill #1: Delegation

Strong delegation skills can be one of a business manager's most valuable assets. Not only does delegation help a business manager lighten his or her workload and focus only on the most important tasks, but it also helps other employees grow and learn. By delegating tasks to other team members, business managers can help them develop their skills and discover their passions. Delegation can also help improve employee motivation. Employees want to feel as if they are contributing to the business in a meaningful way, and delegating various responsibilities is a great way to help employees feel like they're making a positive impact. Effective delegation skills help a business manager get more done and maximize employee potential.1

Business Management Skill #2: Communication

In order to be an effective business manager, you need to be able to lead — and that means you need exceptional communication skills. In order to be effective leaders, business managers need to master both top-down and bottom-up communication. With top-down communication, business managers need to be able to clearly and concisely communicate directions, company policies and procedures to employees. Just as important is bottom-up communication, in which business managers must be able to listen to feedback from employees and make business decisions and changes based on that feedback. In addition, successful business managers need to be equally comfortable communicating in large groups, one-on-one, in writing and online.2

Business Management Skill #3: Time Management

If time is money, then managing one's time effectively is one of the most important things a business manager can do. For business managers, time management involves prioritizing tasks and projects to ensure that the most important items are completed within a specific timeframe, while reducing distractions and inefficiencies. Effective time management skills can help business managers get more done during the work day, make the most of limited or shared resources, identify projects that can be delegated to other team members, and keep track of progress and goal completion. The more a business manager can maximize their time, the more of an impact he or she can make on the business.3

Business Management Skill #4: 21st Century Skills

In addition to the time-tested skills already mentioned, today's employers are looking for business managers who also bring an array of 21st century skills to the table. For example, many businesses consider learning agility (the ability and willingness to learn quickly from experience and apply that learning to new situations) to be one of the most important traits of a good business leader.4 The ability to manage change is another critical skill for business managers to develop. Most businesses experience a constant state of change, and effective change management is necessary in order to stay relevant and remain competitive.5

 

Another skill that's especially important for 21st century business managers is the ability to manage virtual, global teams. With the globalization of business and the rise of the remote workforce, more businesses than ever before are taking advantage of the flexibility offered by virtual teams. The ability to manage a diverse, global team and overcome the challenges of working in a virtual environment are key skills any contemporary business manager needs.6

In addition to the time-tested skills already mentioned, today's employers are looking for business managers who also bring an array of 21st century skills to the table. For example, many businesses consider learning agility (the ability and willingness to learn quickly from experience and apply that learning to new situations) to be one of the most important traits of a good business leader.4 The ability to manage change is another critical skill for business managers to develop. Most businesses experience a constant state of change, and effective change management is necessary in order to stay relevant and remain competitive.5

Another skill that's especially important for 21st century business managers is the ability to manage virtual, global teams. With the globalization of business and the rise of the remote workforce, more businesses than ever before are taking advantage of the flexibility offered by virtual teams. The ability to manage a diverse, global team and overcome the challenges of working in a virtual environment are key skills any contemporary business manager needs.6

 

Source References [+]

1. "Importance of Delegation." ManagementStudyGuide.com. http://www.managementstudyguide.com/importance_of_delegation.htm

2. Morley, Miranda. "The Importance of Communication in Business Management." SmallBusiness.Chron.com. http://smallbusiness.chron.com/importance-communication-business-management-20923.html

3. "Time Management for a Small Business." SBA.gov. https://www.sba.gov/sites/default/files/files/PARTICIPANT_GUIDE_TIME_MANAGEMENT.pdf

4. "Learning Agility." Bersin.com. http://www.bersin.com/Lexicon/Details.aspx?id=14906

5. Buckley, Phil. "The Key to Managing Change." Bloomberg.com. 1 May 2013. http://www.bloomberg.com/bw/articles/2013-05-01/the-key-to-managing-change

6. Kolbenschlag, Bill. "How to Keep Virtual Teams Connected." Forbes.com. 5 March 2014. http://www.forbes.com/sites/unify/2014/03/05/how-to-keep-virtual-teams-connected/

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