Students who earn a management degree in business develop knowledge of a manager's duties. A good business manager must be able to practice the five functions of management, namely planning, organizing, leading, coordination and control. Empowered by the five requisite responsibilities of management, students gain the tools to become master managers.
The initial responsibility of management is establishing a plan for the business. Establishing outcomes, or planning, requires a shared vision or set of results for a business plan, and establishing steps that lead to the realization of the desired goals or outcomes. Planning also requires awareness of necessary resources and time needed to complete the project.
The business plan is the output of the planning function, but is not the end of the planning process. As the team carries out the plan, the manager reviews progress at recurring intervals and amends the document plan regularly. The manager is responsible for clearly communicating the plan to all stakeholders of the business and establishing a method to gather feedback.
After planning, organizing is the second managerial skill. After reviewing the plan, managers delegate individual assignments to team members to create an environment of accountability and transparency. It involves the delegation of tasks to the responsible party, and the allocation of adequate resources to support the delivery of these tasks.
A manager's third responsibility is to lead his team well. A manager establishes credibility by demonstration self-confidence. A leader who does not have confidence and faith in his and their abilities will not be able to marshal their support and perseverance.
The demands on a leader's judgment include knowing when and why to deviate from established practices. Leaders must use fresh thinking and embrace change and take steps to teach his team members the rewards of innovation. Innovation is important to business growth, and it involves the creative use of one's imagination and a thrust to take action.
Since unscheduled priorities arise sometimes, a responsive leader must make decisions to handle emergencies. A leader's action drives his followers to also take action thru proper delegation of tasks to the right people. Employees develop strong connections to leaders who do not assign them duties for which they are unqualified.
Coordination and control are the last two functions of business management. A sign of a leader's ability to coordinate is productive communication between stakeholders in the business. When a manger coordinates proficiently, his staff has the same vision of the assignment, a necessary condition to recording progress.
An effective supervisor establishes authority over employees and guides his team confidently. Employees follow a good business manager because they admire his integrity, commitment and capacity. A respected manager who supervises his staff closely often delivers anticipated results with his team's contributions.
A well run business results from a balance of planning, organization, leadership, coordination and control. Both the study and application of supervisory talents are necessary for managers to raise the level of business performance. Business management degree online programs give students more choices about how they pursue the qualifications for a professional management position.
