Transcript
Key Management Skills required by Managers
Introduction
•A manager in a business or retail environment requires certain core skills.
•I have identified 9 core skills a retail manager needs possess in order to be successful.
KEY MANAGEMENT
SKILLS REGUIRED BY MANAGERS
PLANNING
ORGANISING
COORDINATING
CONTROLLING
MOTIVATING
COMMUNICATING
LEADING DECISION MAKING
FORECASTING
Presented by: Bright ChimaniRetail Management: Communications Module29/11/10
FORECASTING
It reduces risks surrounding decision making by managers
It calculates or predicts future events of conditions affecting businesses
SALES FORECASTINGBusinesses success is based on a healthy demand of its product from the market
TYPES OF FORECASTING
FINANCIAL FORECASTINGBusinesses success is based on a healthy financial position to meet its projected business needs
PLANNING
PLANNING INVOLVES
Evaluation Of Resources
Developing Alternatives
Evaluation of Plan
Creating Organisational Structure
Implementation of PlanCreating Forecasts
Planning prepares for and predicts future events affecting the business
It establishes objectives and creates strategies to achieve those objectives.It creates a step by step determination, activities and resources necessary to achieve those objectives.
CONTROLLING
QUALITY CONTROLSJudges a product or
services
COST CONTROLSuccess or failure of a business depends on
control of finances
QUANTITY CONTROLProduction Based
TIME CONTROL Timing of performance on quantity or quality
TYPES OF CONTROLLING
PLANNING AND CONTROL ARE INEXTRICABLY ENTWINED
Measures performance against pre-determined
standards
Evaluates progress and it steers the department in
the right direction
ADMINISTRATIVEDeals with company structureflow of informationcommunication etc.
Every day of our life each one of us makes decisions. It is the same with
businesses managers who need to make good decisions all the time.
TYPES OF DECISIONS
OPERATIONAL DECISIONSNormal day to day operational decisions which include:Resource allocationstaffingBudgets, etc.
STRATEGIC Deals with:Opportunitieschoice of productsMarketspromotional issues.
DECISION MAKING
COORDINATION
Its a process of ensuring that the interrelated activities in a business go as planned.
PRINCIPLES OF CREATING A GOOD
WORK CLIMATE
It is concerned with achieving harmony of individual efforts
achieving set organisational and group needs.
Be goals and resource centred
Inspire confidence and lend encouragement
Set a good example
Give credit and blame as needed, credit in public,
blame in private
Consciously seek participation
Be fair, consistent and honest
DIRECTING
COMMUNICATION
It is the attainment of organisational goals through
guiding and motivating subordinates
It includes issuing orders, instructions and enforcing
discipline.
IMPORTANT DIRECTING TOOLS
INCLUDE
MOTIVATIONLEADERSHIP
LEADERSHIP
Basic Leadership StylesAutocratic , Democratic, Laissez-Faire Style
Emotional stabilityRefrain from anger and bias
Good communication skills
Teaching Ability A leader must have the ability to
teach
Social skill: A leader must have the ability to socialize with others
Knowledge of Human Relations
Empathy: an understanding of human feelings
Discipline: A good leader must be well disciplined
A good leader must have technical ability
Energy: A good leader must have mental and physical energy required to accomplish his tasks.
MOTIVATION
MASLOW HIERACHY OF NEEDS THE HERZBERG HYGIENE THEORY
Popular Motivational Theories
“This is a process of creating organisational conditions that will
cause employees to strive for superior performance”
COMMUNICATION
This is a process through which ideas are transferred from the sender to the
receiver
It is a means through which plans are coordinated and implemented
All good managers encourage effective communication by establishing
channels through which information is transmitted to subordinates
It helps in motivating members of an organisation towards easy
execution of plans
Communication Functions
Bibliography
1) Hargie. O, Saunders. C, Dickson. D, Social skills in interpersonal communication, Croom Helm Ltd. 2000
2) Mary Ann Pezzullo, Marketing financial services, American Bankers Association, 1998
3) D. A. Whetten, K. S. Cameron, M, Woods, Developing management skills for Europe,
Prentice Hall, 2000
4) R. Hisrich, The Woman Entrepreneur: Management Skills and Business Problems,
Thunderbird, School of Global Management - Walker Center for Global Entrepreneurship, 2009
5) J.F Hazucha, S. A. Hezlett, R. J. Schneider, The impact of 360-degree feedback on management
skills development, 2006
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