In business most people tend to gravitate towards leadership, and management is often overlooked as an important topic. Although leadership skills are crucial for business growth, there’s no point in focusing on this without putting your management skills to the test first. Remember, your business is much like a well-oiled machine in that there are multiple cogs to make any operation smooth-running.
I was very fortunate in my formative years whilst working at McDonalds. Jokes aside, back then McDonalds had – and probably still has – the best management training system in the world. The training I learned along the way really put me in good stead once I transitioned into the private industry.
Believe it or not successful business management is one of the key topics that gets misunderstood. And in the worse case scenario, it’s missing altogether. So talking about management, we can easily break down the need-to-know fundamentals into 3 stages:
STAGE 1: Delegation
First and foremost, delegation is often misinterpreted in the workplace. Delegation is all about making sure you give your team players the right things to focus on. Many managers think delegation means simply telling others what tasks they need to complete, but this is not the case. With delegation comes the need to have someone who is actually capable of carrying out the task at hand. I can’t begin to tell you the amount of times I’ve come across business owners who have said “I told my team what to do.” Great, but this alone won’t get the job done.
It’s imperative to make sure your employees are sufficiently trained, so they’ll be able to carry out what you’ve actually asked of them when it comes to delegating set tasks.
STAGE 2: Follow-Up
Once you’re confident with delegation it’s time to put stage 2 into practice, better known as the follow-up. You must ensure the delegated task is being done. You can’t rely on the fact that you’ve asked (or told) somebody what to do, and expect magical ‘overnight’ results based on assumption. In order to delegate successfully, the power is in the follow-up process. If you delegate without following up, this in essence is not what delegation involves.
The focus then steers towards abdication, which is an approach that doesn’t work in management. In fact abdication can often create a culture of mistrust, blame and poor performance.
Recap: So first you delegate a task, then you follow-up and check in with your people to make sure their progress is on track. Keep reading to discover stage 3.
STAGE 3: Follow-Through
It’s easy to fall into the trap of assuming your management duties are finalised after the delegation and follow-up stages. People often miss the third and most important stage of management – the follow-through. At the end of the day, you can delegate and trust someone to complete the task responsibly, but the ownership still lies with you. So cover all of your bases and make sure the task actually pans out from start to finish. Remember, if it doesn’t happen this is when you’re likely to see detrimental damage to how your business performs. By making sure the task gets done to the highest standard without any confusion or assumption, the end result will always manifest from your solid action plan. And that’s why stage 3 is called the follow-through.
The follow-through is also considered to be the hardest obstacle to overcome. Keep in mind that there’s lots of reasons why the delegation aspect might not be happening immediately, and there will be things you’ll have to fix along the way. But with these 3 stages for successful business management, you can have peace of mind knowing that your efforts will achieve the best possible results.
“What is slowing your business from Scaling Up?”
The 3 Stages for Successful Business Management in Summary:
1) Delegate and have the right people to delegate tasks to. Make sure that person is sufficiently trained at the job to begin with.
2) Follow-Up and make sure everything stays on track.
3) Follow-Through. If you don’t follow through and targets aren’t met, the blame ultimately lands on you. Always follow-through and troubleshoot the missing ingredient so you can guide your team directly moving forward.
Why is Business Management Important?
Management is important for businesses because it helps ensure that all company operations run smoothly and efficiently. Good management also helps to create a positive work environment where employees can thrive and be productive. Additionally, effective management practices can help to improve customer satisfaction and retention rates. Ultimately, business management is critical for ensuring that a company can achieve its long-term goals and objectives.
While business management has many different aspects, some of the most important management functions include planning, organizing, staffing, directing, and controlling. Each of these management activities plays a vital role in the overall success of a business. For example, if a company does not have a clear plan, it will likely struggle to achieve its goals. Likewise, if a business is not organized effectively, it may have difficulty completing tasks and meeting deadlines.
Finally, businesses must staff their operations with qualified individuals and then provide those employees with the necessary direction and guidance. Companies can increase their chances of success by properly managing all aspects of their business.
Business Management Skills
Some essential business management skills and attributes include organization, communication, decision-making, leadership, adaptability, and strategic thinking.
Strong organizational skills help managers plan and delegate tasks to ensure maximum productivity and efficiency. Good communication skills allow clear and effective communication with employees, customers, and business partners. Making sound decisions under pressure is crucial in the fast-paced business world.
Leadership involves motivating employees and leading them towards the achievement of company goals. It’s essential for managers to be adaptable and open to change to stay competitive in the market. Strategic thinking allows managers to plan and anticipate potential challenges or opportunities for their business.
Successful owners and managers must possess these skills and attributes to run their businesses effectively.
Connect with Peter Boolkah – The Transition Guy
Want to talk in greater detail about management related topics? Perhaps you’ve got a team that just isn’t managing your operation the right way, you need some advice on training, or maybe it’s direction that’s required so that your business can stay on track and perform efficiently as it should. Head over to Boolkah.com and get in touch. Let’s see how we can help your managers become more effective.
What is Successful Business Management?
There is no one formula for success when it comes to business management. However, there are some key principles that all successful businesses follow. By understanding and implementing these principles, you can give your business the best chance of success.
The first principle of successful business management is effective planning. You need to have a clear vision for your business and set realistic goals. Once you have a plan in place, you need to make sure you stick to it. This means being disciplined and organized in your day-to-day operations.
Another important principle of successful business management is effective communication. You need to communicate your vision and goals to your team. Furthermore, you must create an environment where open and honest communication is encouraged. This will help ensure everyone is on the same page and working towards the same objectives.
Finally, successful business management also requires a focus on continuous improvement. You should always be looking for ways to improve your processes and procedures. By constantly striving to improve, you will ensure that your business remains competitive and successful.
By following these principles, you can set your business up for success. However, it is important to remember that there is no perfect way to manage a business. The most important thing is to find what works for you and your team. By constantly adapting and evolving, you can ensure that your business is always moving in the right direction.
Is Business Management a Good Major?
Is management a good business major? It depends on what you hope to gain from your degree. Management is an excellent choice if you want to learn how to run a business and become a CEO. However, other majors may be better suited if you’re looking for more general business education. Ultimately, choosing a major that aligns with your goals and interests is important.
There are many different management styles and techniques that you’ll learn as a management major. You’ll also understand business finance, accounting, marketing, and human resources. These skills are essential for any business leader. With a management degree, you’ll be prepared to take on various roles within a company.
The downside of management is that it can be quite competitive. The job market for management positions is often saturated with candidates. You’ll need to have excellent grades, relevant work experience, and a strong network of contacts to stand out. But a management degree can open doors to many exciting career opportunities if you’re willing to put in the work.
So, is management a good business major? It depends on what you want to get out of your degree. Management is an excellent choice if you’re looking for a challenge and are interested in learning how to run a business. However, if you’re looking for more general business education, there may be other majors that better suit your needs. Whichever path you choose, be sure to do your research and select a major that aligns with your goals and interests.
What is Considered Successful in Business?
There is no one answer to the question of business success. Every organization has different goals and metrics for success, and what works for one company may not work for another. However, some general principles can help any business achieve success.
First and foremost, businesses need to understand their goals and objectives clearly. Without this direction, it can be easy to get sidetracked or pursue activities that don’t align with the company’s mission. Once the overall goal is established, it’s important to develop actionable plans and strategies for achieving it. This might involve setting sales targets, creating marketing campaigns, or developing new product lines.
Secondly, businesses need to focus on delivering value to their customers. This means creating products or services that meet customer needs and exceed expectations. It’s also important to provide excellent customer service and build strong relationships with clients and customers. When your business is known for delivering high-quality goods and services, you’re more likely to succeed in the long run.
Finally, businesses need to adapt and evolve continuously. The business world is constantly changing, and companies that can’t keep up are quickly left behind. To stay ahead of the curve, businesses need to be willing to experiment with new ideas, embrace new technologies, and adapt their strategies as the market changes.
While no one formula for business success exists, these principles can help any organization achieve its goals. By clarity of purpose, delivering value, and remaining adaptable, businesses can set themselves up for long-term success.
“Remember, failing to learn is learning to fail.”
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