Management Skills Need For The Business Successful And Profitable At The Global Platform

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Abstract Some managers inspire, some motivate and other fails miserably to engage their employees. The management skills need to be effectively leveraged so as to maximize the success of the business and are the key elements for making the healthy and desirable workplace. Business is an entity with several numbers of internal and external customers and these customers are effectively managed via effective management skills. Thus, management skills is about knowing and doing, whereby conceptual rules of management is easy to understand but it is the capability of the manager to apply appropriately in different situation so as to make the business successful and profitable at the global platform. Introduction Management in business is the…show more content…
Some of the popular management theories used by the managers are: 1. Contingency theory – which focuses on making the decisions according to the situations. 2. Systems theory – helps the manager to coordinate different programs effectively to work as a collective whole. 3. Chaos theory – considers the constant change in the business environment and prepares to maintain new level of complexity. 4. Theory X and theory Y – Theory X focuses on the use of authoritarian style of leadership while theory Y believes that workers are self driven and take responsibility on their own (Hawthorne Madison, n.d.). Management and leadership All the business operates in the highly dynamic environment, which includes continuous change in internal and external environment. Some of these changes can be controlled while some are uncontrollable and business needs to flow with the wind. In order to cope with this change effectively and sustain the position in the market, leadership skills are also required along with management skills. Thus, leadership and management go hand - in - hand and both are essential for the smooth working of the organization. They are not same but complement each other’s function. According to Warren Bennis, the main difference between leadership and management are as follows (The Wall Street Journal, n.d.): 1. The leader innovates while manager administers. 2. The leader is original while manager is a copy. 3. Leader develops and manager
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