Key Management Concepts and Skills
Managing people isn’t easy, but with the right tools and skills, you can do it. Follow this section to understand important management concepts, principles and approaches.
brings you different notions of management to enable your managerial excellence and your professional success. Learn the leadership attributes and high-level management skills an executive should possess. Learn how to apply these managerial skills in your real life or in professional situations. Rapidly improve your management skills and boost your Manager skills!
Sternberg in 2006, proposed the theory of cathexis and confluence focused on understanding creativity. According to investment theory, creativity requires a confluence of six distinct but interrelated resources called intellectual abilities, knowledge, thinking styles, personality, motivation, and environment. He emphasizes that creativity is not about one thing, but about a system of things.
Managers have to fill many roles in an organization, and how they handle various situations will depend on their management style. Management styles are characteristic ways of making decisions about subordinates. They are the strategies, efforts, or direction used by the manager to create an effective workplace and achieve organizational goals. A management style is the method of leadership used by a manager.
At different points in your professional career, it is useful to identify your core values. Values are the qualities considered the most important guiding principles that determine priorities in your life and greatly influence your career choices. Your career brings happiness when it aligns with the beliefs you hold about what is important and meaningful to you. Being aware of your values will help you develop a clearer idea of what is most important to you in life.
Have you ever resonated that there seem to be as many different ways to lead people as there have been great leaders? When one recalls the success of Mahatma Gandhi, Nelson Mandela, Abraham Lincoln, Napoleon Bonaparte to Steve Jobs and Jack Welch, one also notices that they all used different approaches suited to their particular situations and circumstances. Over the last century, researchers and psychologists have developed simple ways of describing “leadership styles” and in this section we will explore these commonly known leadership styles.
Henri Fayol (1849-1925), French industrialist and eminent European management theorist, developed a general theory of management. Fayol described the fourteen management principles.
Management theories are the recommended management strategies that allow us to better understand and approach management. Many management frameworks and guidelines have been developed over the past four decades.
Maslow’s Hierarchy of Needs is a theory of motivation that explains that people are motivated by five basic categories of human needs. These needs are physiological, security, love and belonging, esteem and self-actualization. There is little scientific basis for this concept of hierarchy of needs.
McClelland’s Theory of Needs is a theory of human motivation that states that an individual’s specific needs are learned over time through our culture and life experiences. According to the theory of the three needs, these acquired needs significantly influence the behavior of an individual. The three main motivators are the needs for achievement, affiliation and power.
Modern approaches to management examine organizational management in today’s context. They take a holistic approach and see organizations as a collection of interdependent parts influenced by both internal dynamics and also by the wider external environment. These modern theories of management have played an important role in the evolution of management studies.