World Colleges Information

Abstract:

Managers today have to handle challenges that are drastically different from what the previ-ous generation did. The roles and responsibilities of man-agers have undergone a sea change. The previous model was structured in such a way that if managers organised and managed things efficiently,success would be theirs. How-ever, today the market is more competitive and complex and managers have had to embrace change and take ownership of the organisation.

Managers today have to handle challenges that are drastically different from what the previ-ous generation did. The roles and responsibilities of man-agers have undergone a sea change.

The previous model was structured in such a way that if managers organised and managed things efficiently,success would be theirs. How-ever, today the market is more competitive and complex and managers have had to embrace change and take ownership of the organisation.

Entrepreneurial Managership

The earlier breed of man-agers were averse to risk tak-ing but the current breed are bold, daring and ready to take risks. In a market that’s rapidly changing, the key to stay afloat and ahead of the competition is to move faster. Decisions have to be made faster to capitalise on opportunities that come their way.

What are the kinds of skills that an entrepreneurial man-ager would have to posess? Firstly, he or she must be able to spot new business opportu-nities before they become ob-vious to everyone else. Once this is done, they should have the capability to effectively communicate and market these ideas to the key stakeholders. Post this, they must be able to lead the theme and make the most of these opportunities.

Managers as Facilitators Not Controllers

The previous models of management worked on the premise of hired hands who were  directed and controlled.However, today the role of the management has shifted to be-coming facilitators.   They do not merely allocate resources but bring the right resources togetherand not only engage them in planning the work but also co-ordinating the execu-tion. They monitor the prog-ress of projects but this is not a mere one-way process of giv-ing orders but also nurturing employee strength and ideas.

Treat Your Employees as Valuable Assets

The old school of manage-ment never really gave em-ployees their fair due. Today,the manager’s job includes constantly motivating and mentoring employees so that they deliver a good perfor-mance. The skills and strength that each resource brings must be optimised and aligned to achieve business goals.

Managing Change Within The Organization

Changes in the economy,changes in the management or competitor moves could entail organisational changes. How-ever, this is a very sensitive is-sue and if not handled proper-ly, the organisation could stand to lose heavily. Firstly, when change comes, make a check list of people who would be di-rectly or indirectly affected by it. Spend time with them show-ing them the need for change and help them understand it. A good way to draw them in is to get them involved in the plan-ning and implementation of the change. As far as possible when it comes to handling sen-sitive aspects of organisational change, do not opt for imper-sonal emails, go with face-to-face communication.

Innovation, The Key to Mov-ing Ahead

Holding a monopoly prod-uct or standing on a steady market share thanks to cus-tomer loyalty is a thing of the past. Today’s customers are fickle and the next value add or innovation on a competi-tor’s product or service could pull you down. Management therefore has to push innova-tion either in the look and feel of the product or service or in the marketing.

BUDDING MANAGERS

MARCH 2014 ISSUE

Author:  buddingmanagers
Posted On:  Wednesday, 9 April, 2014 - 14:45