bring people together around B u s i n e s s F i n a n c e

bring people together around B u s i n e s s F i n a n c e

Respond to peers in 175 words or more

Response 1:

Considering the various managerial skills and how these skills work within the different levels of an organization, you realize that these skills are a necessity and not optional. The reason I say this is because each skill builds on the other, and they are used to create a competitive advantage. This competitive advantage allows an organization to outperform others in their industry. An organization should encourage all managers to develop conceptual, human and technical skills because those skills working together help to outperform others in their industry.

The four functions of manager are effective in helping organization achieve their goals because depending on how well these functions are performed this will propel the organization in the right direction. If the planning stage isn’t effective and efficient, then the other stages will fail as well. However, if the planning stage puts in place the strategies that the organization will follow, then the organization is able to successful move the next stage. Organizing is an important function as well, because resources need to be optimized in order the organization to perform at it’s best. All of the functions are needed together to help the organization achieve their goals, because if one stage fails the other stages following will fail as well.

Reference: Jones, G. R., (2020). Contemporary management (11th ed). McGraw-Hill Education

Response 2:

When you consider the various level of leadership and managerial skills in leading business across the United States there are clear leaders in almost every industry. Vision is a skill that is a must for companies that want to outperform others. Visioning is usually started at the CEO level but it is the first line and middle managers where you see results of the vision of a company first for many consumers. Strong human relations skills are needed to bring people together around a vision. Leaders and managers need to understand their employees and help employees understand their role in helping a business be successful. Being able to conceptualize is a skill that can separate top managers and leaders from the competition. Top managers know what the big picture is instead of focusing on procedures and policies of the day-to-day. If managers are able to conceptualize at a high level, they should be able to elevate their business or product to also be on the cutting edge instead of playing catch up or copy.

The four functions of management are imperative in running a successful business. Planning or goal setting at least on an annual basis in order for everyone to know what the goals are for whatever length of time decided by the team. Organization is important to achieving the goals set during the planning phase in the organization. Leading companies normally have visionary and entrepreneurial personalities. Many consumers know the names of leaders of top companies such as Jeff Bezos, Bill Gates, Warren Buffett, etc. Lastly, top companies have controls in place to help keep high standards in place and constant measuring and evaluating all areas of the company. Managers and leaders that are strong in all four areas should be able to move an average business to a business that can outperform the majority in their area.

Jones, G. R., (2020). Contemporary management (11th ed). McGraw-Hill Education.