1.1 Features of effective management

• Features of effective management

  • The process of working with and through other people to achieve business goals in a changing environment. Crucial to this process is the effective and efficient use of limited resources. (resources include; Human, information, physical and financial resources). 
• • Effective management requires: 

  -Working with and through others 

  -Achieving the goals of the business 

  -Getting the most from the limited resources 

  -Balancing efficiency and effectiveness  

  -Coping with a rapidly changing environment
• Management skills

  • Communication
  • Interpersonal skills and vision
  • Problem solving and decision making
  • Strategic thinking
  • Flexibility and adaptability to change
  • Reconciling the conflicting interests of stakeholders
• Communication

  The exchange of information between people; the sending and receiving of messages
• Interpersonal skills

  Skills needed to work and communicate with other people and understand their needs
• Problem solving

  A broad set of activities involved in searching for, identifying and then implementing a course of action to correct an unworkable situation
• Strategic thinking

  The ability to see the business as a whole and to take the broad, long-term view of the business
• Flexibility

  The ability to be responsive to change and able to adjust to changing circumstances
• Proactive management style

  A style that incorporates dynamic action and forward planning/thinking to achieve particular objectives
• Reconciling conflicting interests of stakeholders

  The manager's ability to have control over stakeholders who interact with the business and have a vested interest in its activities