Good Business Management Requires Good Leadership Skills

When directing a team or a crew of people, a manager is required to possess some knowledge of psychology and they need to utilize this knowledge. They will need to understand their employee’s needs and desires in order to keep the job satisfaction at a high level. When employees are dissatisfied with their job or unhappy with their supervisors, they will not perform to the best of their ability.It is important for leaders of teams to listen to their crew. The members of the team were chosen to perform specific roles. They were probably chosen because they had special skills or qualifications that allowed them to earn their position. When there is confusion in a team or on a crew about who is in charge, what duties should be performed or questions about any other aspect of the business, there will not be smooth functioning. In fact, chaos is likely if there is any confusion involved in business.Leaders and managers should possess the skills to speak clearly and make themselves understood by all members of their team. They are there to encourage, motivate and direct. Managers will also help train new employees or will delegate the responsibilities of training to other knowledgeable crew members. They should still always be available to answer any questions their employees might have in order to be successful.Two qualities should be required of all managers. That is the ability to speak clearly and the ability to actively listen. Actively listening means not only hearing what an employee is saying but also acting on those words, taking into account the employees opinion and making changes or corrections.Managers may have to create, organize and implement plans of action to make necessary changes within the business atmosphere. This is where their skills and training in planning and leading a team will come in handy. They will need to spot special abilities among their crew members so that they know who will do what job the best. They need to monitor all progress that is made as it is made.Managers are responsible for spotting obstacles that employees might face in any plan. They will enlist the help of the whole team to set up contingency plans, thinking ahead about any mishaps that might happen. They will also need to resolve any personal conflicts that might arise among the members of the team or crew.Business management is not for people who are not willing to put themselves out there on the front line and in the trenches and direct other people. Managers must be leaders, outgoing, cooperative, intelligent and friendly. They need to encourage and motivate their crew to get the job done by the deadline. They need to be able to resolve any differences among the team members and make sure that everyone is using their talents to reach a common goal.

Business Management Skills Tested

Trends in Small Business Management SkillsNew data has shown that the majority of business owner-operators neglect their personal needs and have no plan to exit their business upon retirement.
The survey indicates that only 37% of owner-operators have planned for their own exit from the business and only 38% have any form of personal development plan to ensure ongoing career development and satisfaction.64% of SME owners work more than a 40-hour week and only 45% take four weeks holiday each year. While many business owners consider they’re in business for lifestyle reasons, this is clearly not their reality.These insights have emerged from a sample of more than 300 Small to Medium-Sized Enterprises (SMEs) in 32 industries. Respondents have gone to [] where they have completed a 22-point questionnaire that provides them with a snapshot of their own business, how it rates in their industry and compares it with the total sample.Kirrily Dear, Director of ‘Eyes Wide Open’ (a pragmatic business consultancy servicing SMEs) says this survey is different because it addresses the happiness and fulfillment of the owner.“We believe it is the first time the owner-operator’s personal needs have been acknowledged as a critical part of management. It is possible that there is a connection between business owners neglecting their personal needs as they strive to grow their business and the long terms sustainability of small businesses”.Management Skills GapIn the wake of a major growth surge in the size of the SME sector of the economy over the last ten years, the survey points to a serious gap in on-going management skills.For example, only 61% of businesses completing the questionnaire set and hit their sales and profit targets in the last 12 months. 60% have defined roles; responsibilities and targets for their team, but only 55% actually conduct regular performance reviews.However, small business owners continue to perform well as employers. 87% encourage team members to contribute ideas on improving business operations and 85% regularly offer encouragement to the team. 77% regularly discuss achieving business goals with their team.Out in the lead is the Human Resources sector with an overall score of 73%. This industry out-performs others in internal communication and performance management. For instance, 86% of Recruitment/HR/Outplacement companies conduct regular performance reviews compared with the total sample (55%). Many also work 40 hours per week or less.At the other end of the spectrum, the Retail trade had an average score of 44%. This sector scored below average on 19 of the 22 attributes measured. Of particular concern for this sector is the lack of planning. Only 23% had a business plan compared to 50% overall.The questionnaire is available online for the next six months and can be completed by any SME owner-operator. Ms Dear says, “It is very thought-provoking and reminds us of key management issues that may have been forgotten in the busy-ness of day-to-day business”.Kirrily Dear has this advice for SME owner-operators: “Take stock of why you are in business and what’s important to you. It is important to be clear about these factors to ensure you are able to sustain your motivation and commitment to building a successful business. Also you need to work on reducing the extent to which the business relies on you personally. It is crucial that you keep perspective on your own health and general well-being”.Survey top-line Results:1. Recruitment, HR, Outplacement = 73%2. Accommodation, restaurants, cafes = 66%3. Marketing & Biz Consulting = 62%4. Manufacturing and construction = 61%5. Financial Planning = 59%6. Accounting and business administration = 58%7. Retail trade = 44%

How Business Management Software Drives Your Company Forward

The nuts and bolts of a company will tend to encourage or hinder growth and profitability. Yet, they are often overlooked. For a growing or mid-sized company, financial services and accounting can be a stumbling block as revenues and costs increase in amount and complexity. In the manufacturing sector, production planning, project estimates and quotes, and customer service for one’s clients demands an integrated system of business management software and technology. On the distribution end of business, inventory, purchasing, and warehouse management, systems are essential in providing quick and accurate sales and product shipments. Technology, simply put, is an investment in a company’s well-being.What Makes Quality Business Management Software?In order for new technology investments to provide short- and long-term value, the integration of that technology needs to happen seamlessly with a minimum of re-training and re-tooling required. A software suite that can interact with existing IT prevents a total overhaul of electronic systems and lengthy training sessions. For example, Microsoft Dynamics is well integrated with all other Microsoft productivity suites and will fit into existing structures easily on both the technological and personnel sides. Microsoft technology communicates with each other very well and the interface is based off Office, making re-training a minimal time requirement.Communication is the lifeblood of efficient business, and this is no different whether it is computer systems or people communicating. Business management software needs to emphasize universal solutions without gaps or seams between business functions and business units. A robust technology will cover business needs from financial services to production and supply chain management to business intelligence and human resource utilization. For its users, collaborative workspaces and end-user configurability allows business management software to enhance the human element. In the end, when a new technology launches with minimal disruption, businesses will see immediate savings and profitability as well as continued long term value.Software System SpecificsWhen researching the best technology for investment, there are specific implementations that offer a solid return on investment. The financial service industry relies on up-selling and cross-selling; technology can facilitate this business opportunity by driving down fees and compiling complete client profiles for effective cross-selling. These systems also have to be flexible enough to withstand changes in regulations and compliance with a minimal of tire-spinning downtime.The manufacturing sector is still the backbone of economic activity and growth. Technology solutions have to focus on pinpointing market opportunities and pairing them with production scheduling. While product management is paramount, technology has to ease collaboration between engineering and operations to maximize production efficiency. Engineering design changes have to be related to operations personnel in order for process improvements to be fully realized.Technology solutions to optimize business functions are a sound investment for companies looking to expand their profitability as well as for divisions within larger companies to improve their performance. A fully integrated package, with minimal retraining and retooling, that enhances business decisions and performance is necessary. Such an important investment should be made with a dependable business management software provider using a robust, fully supported software suite, such as Microsoft Dynamics. The impact on productivity and profitability will be immense and quickly realized.