Most MBA graduates look at business management as a tool to keep the business running and afloat. However, management goes beyond its superficial definition, as it strives to build institutions of an inspirational stature. Detailed management tricks are extremely important part of any business school curriculum as they aim to imbibe in students the importance of the same. Effective managers contribute towards a holistic improvement of an organization as opposed to bringing about a change in just one sector. Let's take a look at organizational skills that help in fostering company's growth.
Planning is the first lesson and the first step of effective organization skills. To accomplish any goal, be it a big one or a small one, planning is equally crucial for both. Planning begins from penning down the mission statement, which clarifies the objective of planning. The next step of planning, is making a blueprint of every tiny detail you need to take care of to achieve your mission statement. This includes, time frame, number of people working on the project in question, cost estimation and assessment, and evaluation of available resources.
Once you have a plan in place, the next is to work on your time management. Time is an unaffordable luxury in today's times of fast paced competitive lives. As an effective manager one must understand the value of time and the need to use it wisely. Making a schedule for oneself and for your team members is extremely important to know how and where is every minute of working hours spent. Sharp managerial acumen will help you anticipate the most productive time of your employees and downtime. You need to make the most of this to get to your goal faster, which will help you save your resources and increase your profit margins.
Using the available resources to meet the existing demand creates an economic problem. This problem is the underlying cause for breaking budgets and management failure in most organizations. However, is important to manage your resources well so that you do not have to stretch your budget at the last minute. Setting up processes and systems that aid smooth work flow, help in understanding how resources are being utilized. These are techniques to execute the established plan and procedures in the most professional way by avoiding ambiguity. Weekly reports, time sheets, and registers are some of the ways of recording how much work is being done. Optimum utilization can also mean using your human resource in such a way that your goal is achieved as decided. So, a manager will have to motivate his workforce towards transforming their weaknesses into strengths.
Once you have a plan in place, schedule running on time, and charts to record work, you need to make continuous assessments of them to ensure smooth work flow. Employee reviews, peer reviews, feedback sessions, and suggestion boxes are some of the ways to get an assessment from both the ends. As a manager, this will help you understand what you have set out for, what has been achieved so far, and what more needs to be done. Such kind of meetings also help employers to motivate their employees, which reflects in a positive way.
A manager is an integral employee of an organization. He is responsible for managing men, material, and money to make an organization achieve more than expected. It takes experience and an insightful mind to assume the position of a skilled manager.