10 Tips to Stay on Top in Business Management

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Many of the country’s best companies are looking for managers. They don’t just hire anyone with a business management degree. These companies are only interested in working with highly competent managers.

Do you want to stay competitive? Here’s how.

Adapt Quickly to Change

New technology not only disrupts business. It also brings with it a new set of challenges and opportunities. Most importantly, it renders many management theories and practices obsolete. This means managers, in handling systems and managing people, should respond quickly to change and not resist or ignore it.

Read Top Books in Your Industry

Many new management ideas emerge. Some old ones are improved upon. These two are enough reasons to read the latest best selling business books of all time in your industry. And if you want to stay ahead of the game, it helps to read books in related industries or disciplines too.
Check a book’s summary and see if it’s worth your time.

Learn How to Prioritize

Good managers may be enthusiastically saying yes all the time. The great ones, however, know the importance of saying no—of prioritizing. Doing so lets you focus on and manage things that matter. Peter Drucker has a word for this—effectiveness—which means getting the right things done.

Build Strong Relationships

Don’t just build a network. Build a lasting and valuable network, one that is based on trust. The art of business management, after all, has a lot to do with moving people. You can’t influence people if they don’t trust you in the first place.

Spot Trends and Opportunities

Subscribe to your industry’s online publications, blogs and newsletters. You can also set up an RSS feed or Google Alerts around key industry terms. LinkedIn and other social tools are good sources of industry information and competitive activity as well.

Listen to TED Talks

Watch inspiring the thought-provoking videos on TED. Don’t worry if they don’t fall exactly under your industry or the domain of business management. They can help you form new ideas or refine existing ones.

Work with the Best People

Get inspired by people who are best at what they do. By surrounding yourself with capable professionals, you are at the same time compelled to give your 100% at work.

Build a Team and Be a Leader

Business management is all about leadership.

Improve Communication Skills

Efficient managers are good at communicating with others. They know how to collaborate with remote teams or people in different locations. They know how to express their ideas clearly and effectively in almost any medium.
What’s more, the best managers are experts at managing conflict and negotiating. They always get good results by knowing what to say and how to deliver it best.

Improve your communication skills through deliberate practice. Write down your thoughts on a journal or a piece of paper. Record your voice as you speak and play it back. Finally, you should have the courage to admit your weaknesses and fix them. Don’t forget to read books on public speaking and communication.

Financial Skills Matter Too

Every successful business venture has a competent manager who properly acts on relevant financial information.
The point is project management skills alone won’t help keep a business stay afloat. Managers should perfectly understand factors that contribute to the company’s profitability as well.

 

 

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