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How to Manage in a Competitive Landscape

By Edited Jan 29, 2016 0 0

When the economy is positive, running a business seems easy. However, a downturn in the environment spells disaster. It is evident that management is challenging and requires constant adaptations to the economic, social, and environmental circumstances.

Things You Will Need

As a manager you will need good technical skills, decision making skills, and interpersonal communication skills.

Step 1

The first factor to consider in management is globalization. This aspect wasn't around really, until the technology boom-which created a constant global connection platform. While this expands markets, it also means corporate talent can come from anywhere-so managers have to be ready to deal with different cultures and practices

Step 2

As mentioned in step one, technology poses constant evolution to the managing world. Managers now have numerous ways to find potential employees, as well as prospective clients/business. As new technology is introduced, an effective manager will be able to understand and utilize the new trends to the benefit of the company.

Step 3

Not so new, is the ability to gain a vast knowledge of the tasks assigned to oneself. With advanced-economy organizations, production is fairly efficient because of knowledgeable leaders. This in turn creates more time to generate new ideas/products, marketing, entertainment, or advertising. Having a full understanding of the company and its products or services sets the ground for promoting what you know.
Outside of what managers know, there are numerous employees on the front lines who may have excellent ideas or contributions, so its the managers job to gather and organize that knowledge to the benefit of the company.

Step 4

Lastly, and most importantly, collaborations are key in the current times. This includes collaborations between organizations or even customers. Asking clients what they dislike about the organization, and then comprise a goal and plan of action to fix those problems. Or one could collaborate with another organization to better both ends of the partnership. Another basic collaboration happens between an organization and investors who are interested. All of these partnerships have to be organized and controlled by today's management workforce.

To be a successful manager you can't be happy with just one or two strong suits out of the four categories above. Today's managers are asked a lot of, and they perform/are expected to perform exceptionally in all aspects of the outlined ideas.

Tips & Warnings



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