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Business Environment: Managerial Skills

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Question:

Discuss about the Business Environment for Managerial Skills.

 

Answer:

Introduction

A well-blended combination of all the internal and the external factors which are capable and liable in influencing the operational activities and the functionalities within the business organization is known as the business environment of a firm or entity (Craig, & Campbell, 2012). The below presented analysis has been executed on the different types of management skills required and the SMART objectives approach.

Management Skills

Managerial skills are required for managing a business corporation, the concept has been considered with the skills and the abilities of an individual in an managerial position for fulfilling the some of the specific tasks and operations (Entrepreneurshipinabox. 2017). The below mentioned are some of the main types of the skills which are required to be possessed by the managers.

Technical skills: These are the skills and the abilities which gives the managers the abilities and the skills for adapting varied techniques which will aid them in attainment of the targets. The skills are not only limited to the machines, tools and the use of equipment’s and production but also associated with the skills that are required in increasing sales, designing of different types of products etc. For instance a sales executive in the sales department has obtained and developed high level of skills and experience by working in the sales department in the business corporation. Because of the skills and the experience the sales executive is liable to be appointed for the post of the sales manager. Technical skills are considered as one of the topmost necessity for a manager at a first level.

Conceptual skills: The abilities and the skills required by the manager for more abstract thinking is known as the concept of conceptual thinking. These skills develops and makes an individual able who can see easily through analysis and diagnosis of different states (Peter, & Donnelly, 2011). This makes them able in predicting the future for the business. These skills also aid the managers to look outside the department’s goals for making the decisions that will attain the organizational goals.

Human skills: It is an ability to work with the people and this has also been considered as one of the most significant task for the managers. And as  the human resource is the most significant asset of the business organization there will be no need of managers without human resource. These skills will enable the managers in becoming a good leader and will aid in motivating the employees for tha attainment of the goals.

Motivation to manage: The employees work with more dedication and interest if they are timely motivated and praised for their working. So motivating the employees has been considered as the most significant task for the managers. The managers are required to motivate the individuals as per their performance. Motivating the employees in an appropriate manner will help them in the attainment of the goals with a greater speed.

 

SMART Objectives

SMART objectives makes the business successful as they enable the business entity with a clear idea about what they are doing and how will they do it (Learnmarketing. 2017). The below mentioned has been considered as the elements that are required or can be adapted as an approach for the attainment of the goals and targets in a smarter way.

Specific: In this approach the company will be able to attain the goals and the targets in less time with greater efficiency as they will be aware of what to be achieved or the goals will be specifically known.

Measurable: This element will enable the company with the time limit, when the goal will be achieved, as the entity has a way to measure (Ambler. 2010).

Achievable: The concept is concerned with an event that is achievable. This element allows and asks the company to examine your resources and marketing environment.

Realistic: The objectives of an business organization should be realistic, they should be relevant and achievable to be achieved (Zahorsky. 2016).

Timescale: This concept is concerned with the deadline or the time limit within which the tasks or the goals are required to be attained. This will aid the organization in attainment of the large and complex task by breaking them into smaller and compound ones.

 

References

Ambler, G, (2010), 10 steps to setting smart objectives, Assessed on 15th May 2017, https://www.projectsmart.co.uk/10-steps-to-setting-smart-objectives.php.

Craig, T., & Campbell, D. (2012). Organisations and the business environment. Routledge.

Entrepreneurshipinabox, (2017), Managerial skills needed- 3 types of skills each manager will need, Assessed on 15th May 2017, https://www.entrepreneurshipinabox.com/202/managerial-skills/.

Learnmarketing, (2017), SMART objectives, Assessed on 15th May 2017, https://www.learnmarketing.net/smart.htm.

Peter, J. P., & Donnelly, J. H. (2011). Marketing management: knowledge and skills: text, analysis, cases, plans. Plano: Business pub., INC.

Zahorsky, D, (2016), 5 elements of smart business goal, Assessed on 15th May 2017, https://www.thebalance.com/elements-of-a-smart-business-goal-2951530.

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