Ready to be a Manager

Ways to determine if you are ready to be a manager

It’s time for you to step into a management role within your current company, but one question keeps nagging: Are you ready? If you want to be a manager, you should first grasp what it entails to determine if you’re ready for the increased responsibility.

Effective managers may motivate their staff, improve the quality of the projects they oversee, and promote the organization’s goals. Managerial positions are those that supervise team activities, projects, or procedures. The manager is usually in charge of coordinating schedules, training employees, and helping them with tasks. The duties of managers vary with their position and titles, but they are often responsible for accomplishing organizational goals and relaying updates from senior leaders to employees.

Often, ambitious careerists try to force themselves up the corporate ladder before they’re ready, but this rarely works. So, move into a managerial job after you’re ready.

Here are some ways you can know if you’re ready to be a manager:

1. Communication is your strong suit

Excellent communication is one of the finest managerial abilities, enabling managers to listen to employee problems, convey expectations, and settle disputes amicably. Managers frequently must provide supervisors with information on how their team is doing. They are also accountable for ensuring their teams have all the resources required to accomplish their tasks. Managers must create an environment where their teams can communicate openly about their needs and wants.

 2. Trustworthy is your trait 

People who trust you and your judgment do so because they believe you act in their best interests. You frequently need to gain the confidence of your superiors and your team members in order to be a successful manager. It demonstrates your dependability and trustworthiness, two qualities that make a successful leader.

3. You are responsible

You might expect additional responsibilities if you work in management. You can be required to create timetables, organize meetings, and educate new personnel in addition to overseeing duties. You’re frequently accountable for the actions of your workers as well as any project or procedure you are in charge of. Even if you weren’t the direct cause of an issue, as a manager, you are accountable if something goes wrong.

4. You are an expert in solving problems

In a managerial position, you can be required to respond to challenging situations with competent solutions. For instance, if you work in customer service, an employee might approach you for guidance on how to deal with a disgruntled client. You can assist the objectives of your organization and your team by knowing the best solutions to difficult problems.

5. You value your work 

The strongest indication of managerial readiness is the level of work value you place on it. Taking ownership of your job can assist you in building productive teams and advancing the overall goals of your organization. When you are passionate about your work and the results you can achieve, you are frequently better equipped to lead your teams and inspire others to do great things as well.

Apart from these, if you have managerial experience and are knowledgeable about your field, this is a plus point. You can aid others with their duties by being educated and skilled in common processes. Additionally, it might boost your credibility and other people’s confidence in your skills.

Learning the abilities, necessities, and procedures required for your role when beginning a new job frequently takes some time. If you want to develop your business leadership skills, pursuing an MBA program may be a good option. It’s best to sharpen your abilities and focus on professional development before taking on a leadership position.

Critical Thinking in Management

Critical thinking is the ability to examine and thoroughly evaluate circumstances, arriving at clever judgments based on facts and reason, using intelligence, knowledge and skills. This is a valuable analytical approach that assists managers and entrepreneurs in considering the desired and unforeseen repercussions of their actions upon their teams and businesses.

Managers are confronted with challenges of multiple possibilities and perspectives in an increasingly multidimensional business environment. When it comes to finding answers and navigating instability, managers must be able to think critically. Critical thinking has not received adequate consideration as a discipline or as an important tool of corporate management, holding out a big challenge to tackle.

Businesses that want to be innovative and successful need critical thinkers with excellent decision making and leadership skills. Creative innovations may not arise, present procedures may not be challenged, and transformations may not materialise if organisations neglect the need of incorporating critical thinkers as part of the company.

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Enhancing Critical Thinking Skills

Developing and enhancing critical thinking abilities can help executives better manage their organisations while also strengthening their career.  This can be accomplished through critical listening and reading, both of which can help them broaden and develop their analytical processing, which is important for fine judgement.

To control risk, increase productivity, and manage workforce abilities in a period of quickly transforming organisational contexts, managers must emphasize on thinking creatively, analytically and with curiosity.

Critically Evaluate Operations

The more efficiently you structure your organisational operations, the more accurately your task is completed. This then leads to a higher organisational revenue generation. Critical thinking aids in the examination of operations, the evaluation of their efficacy, and the selection of new methods and ideas.

Recognise data-collection and analysis opportunities, such as the average monetary value of the products your manufacturing workforce produces in an hour. Utilize this data to identify areas where you can strengthen. Consider possible fixes to these shortcomings. Then put these options to the test, collect new data, and restart your critical thinking process

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Critically Assess Employees

Since interactions within the organisation can be complicated, nuanced and sensitive, it can be especially challenging to utilise critical thinking while making personnel decisions. Even if an employee bothers you, he or she may nonetheless perform admirably. Alternatively, you may appreciate the companionship of a co-worker who performs subpar.

You can utilise critical thinking to distinguish your own preferences from the needs of your company. If an employee is affecting your productivity, you may want to consider if the value of his or her service is beyond your annoyance. Then think about the legal and moral choices that you can act upon.

Think Critically about Customer Service

Customer service, like personnel decisions, can necessitate critical thought in the context of an impulsive reaction. A consumer may publish an unjust, unfavorable review on an online platform, prompting you to respond in a harsh manner. However, doing so may reflect negatively on your company much more than the initial poor review.

After conducting a thorough analysis of the situation, you may decide to gather your thoughts before responding in a controlled and productive way. Critical thinking in customer service saves you from needlessly losing clients, and might even boost your reputation in the long haul.

Future Prospects of Critical Thinking

This virtual environment has inspired higher education institutions to place a greater focus on critical thinking programmes. Future managers will have to interact efficiently in a fast rising virtual world as they tackle intricate challenges in the management field. By drawing attention to concerns of competitive advantage in relation to emerging industries, critical thinking aids in the development of future managers. A practice that employs awareness and, when coupled with direction, strategy, and performance, leads to a boost in the organization’s worth and potential. 

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Importance of Strategic Management in an Organization

Strategic management serves as the foundation for every important decision an organisation makes. It gives overall direction by creating plans and policies intended to achieve goals and then assigning resources to implement the plans. The ultimate goal of strategic management is to provide organisations with a competitive edge over their competitors.

What is Strategic Management?

Strategic management is the ongoing arrangement, observation, planning, investigation and evaluation of all that is important for an association to meet its objectives and goals.

Strategic management is predicated on a company’s reasonable comprehension of its mission, the reason for existing; its vision for where it needs to be later on; and the qualities that will control its activities. It requires an order to strategic planning, the subset of business management that includes an association’s capacity to set short-and long haul objectives and plan the vital choices, exercises and asset assignments expected to accomplish those objectives.

Strategic Management Process

Strategic Management Process (SMP) determines the organisation’s strategy. It is also described as how managers select a group of organisational strategies to help it operate better.

A business needs a culture of constant evaluation. Despite how straightforward it may seem, this is a difficult process that includes developing the organisation’s broad vision for its current and long-term goals.

Different management strategies are developed and implemented in different ways by various firms. As a result, the company can choose from various SMP models. The appropriate model depends on several factors, including:

  • The organisation’s existing culture
  • Organisation’s dominance in the market
  • Managing style
  • Experience in implementing SMPs throughout the organisation
  • Industry and competition

Role of Strategic Business Management

One of the major roles of strategic management is to properly join different useful zones of the company or organisation to ensure these functional regions blend and get together well.

Another role of strategic management is to watch out for the objectives and targets of the organisation. Strategic management plays a vital role in the accomplishments of many organisations, which has been a subject of research and study for an extensive time.

Strategic Management gives a more extensive point of view to the representatives of an organisation, and they can understand how their activity fits into the whole organisational plan and how it is co-identified with other authoritative individuals. It is only the specialty of managing employees in a way that amplifies the capacity to accomplish business targets. The representatives become progressively reliable, increasingly dedicated and progressively fulfilled as they can co-relate themselves very well with each organisational task.

Importance of Strategic Management in an organization

Planning or structuring a system includes a lot of problem and asset evaluation, approaches to counter the dangers, and successful use of assets, all while attempting to accomplish a big reason.

Strategic Management and the job it plays in the achievements of firms has been a subject of exhaustive research and concentrate for a broad time frame now.

Strategic Management in an organisation guarantees that objectives are set, essential issues are laid out, time and assets are rotated, working is united, the inside condition is set towards accomplishing the targets, outcomes and results are agreed upon, and the organisation stays adaptable towards any outside changes.

Remembering the long haul advantages to organisations, key planning drives them to concentrate on the inner condition through empowering and setting difficulties for employees, helping them accomplish individual just as authoritative targets. Simultaneously, outside difficulties are guaranteed to be dealt with, adverse circumstances are handled, and threats are analysed to turn them into potential opportunities.

Other Resources

Project Management Trends

Project Management (PM) Trends in 2020

There is, currently, a great transformation in major areas of life and Project management isn’t left behind. Project managers who have been in play for a while will tell how methodologies used in the past differ from what we use right now. Even with this, we haven’t fully arrived at where we want to be. The trends that will occur in 2020 are going to be massive. But what do these trends look like?

Automation and Artificial Intelligence (AI)

We seem to get massive invention or innovation year in year out, from electricity to mobile phones to internet and even now to Artificial Intelligence. I was watching WWE RAW televise a draw they fixed between Smack down and RAW. As much as I saw a couple of people working on it, I also saw a huge robot working around the room to contribute its quota. As results get announced, there were sad and happy moments. The most hilarious thing is the Robot also joined in all of the moods. Robot is a bit of Artificial Intelligence and it has shown how it will help every sector of life.

What Artificial Intelligence would do for Project management is to ease every work done. AI would be used to tailor a company’s service to the regular marketplace. This will interestingly aid decisions. Automation will be done using AI too.

As Machine Learning is a common family with AI, 2020 will see the Project management adopt machine intelligence to improve decision making, and make the everyday task go smoothly. Higher consistency will be achieved by using Artificial and Machine Intelligence.

Emotional Intelligence

As much as machines will take up more job roles from humans, they will, as a matter of fact lack the humanity to totally carry on. Emotional intelligence has been in play since the start of PM and must continue and further improve to set the best tone for PM marketplace. Social skills is a high ranked skill researched to be the most in-demand. In negotiating, show your tactful skills in relating, show your relational skills.

You are not a comedian and yes, it is true you might not get an appraisal for been the best emotionally, or for properly holding a negotiation. But you may consider yourself been inter-relationally equipped. This is going to be a necessary trend in 2020.

Improvised methodologies

When starting out as a standalone PM Company, you follow the normal methods and avoid breaking the rules. This is understandable because doing the normal which is not too good, is better than doing the unusual that might yield no result. As you go on, be sure to practice adaptability skill as only this would tell for how long you’d be in play.

Project Managers look for better and effective to do work so as to prepare for the future. To reduce cost and optimize productivity, new methods are constantly worked upon and this is not likely to change in 2020.

Remote teams

Working from your comfort somehow provides you the best environment. You don’t have to do with the everyday noise and pollution generally, defined terms and conditions, flexibility and time saving. The world is gradually swinging from the ‘9-5’ day job to a more flexible method. Expect to see more of this trend in 2020.

Kanban

Kanban was introduced by Toyota as one of their major ways to organize work and improve the quality of work production. Surprisingly rather than unsurprisingly, Toyota became even better with this technique and other companies bought the idea. 2020 will see an even greater usage of the technique as it specifies deadlines, appoint new tasks and cancel existing ones, and even rate individual performance in projects.

Kanban provides efficient way of carrying out tasks and it ensures project keep going.

Data Analysis

Data analysis has proved to be a major part of our everyday life. It has taken ground in all spheres of life leaving no area untouched. It is little wonder why Data Analyst are been revered. For Project Management, data gathered are easily worked on to deliver result that helps team and business holders get insights into their business. For this to happen, managers must get loaded on data analysis and the usage of some of its tools like Power BI, R, Tableau and some others.

The trends are currently been used and would get even better in 2020. To be in a good shape, be vast and flow well with the trends.

Project Management Tools

Tools that will be very much of trends are;

Strategic planning remains the number one tool. It uses short term and long term planning to remain adaptable.in order to thrive and sustain, companies need to strategically plan.

Another tool is customer relationship management. You may think your customers are the best but CRM will identify. An excellent CRM helps managing project.

Other tools are bench marking, advanced analytics, supply chain management, customer satisfaction, and change management.

Project Priority Matrix

Priority matrix is a tool used for making decision by sorting tasks and this makes important tasks go through even when the unexpected, sudden and urgent comes up. It prioritizes what is important to help focus on the long term goals.

Tasks are placed into quadrants and dealt with by the quadrants they belong to. The 4 quadrants are

  • Important and Urgent
  • Not urgent and important
  • Not important and urgent
  • Not important and not urgent

MBA in Project Management

MBA provides professionals with better opportunities and even greater pay at work. In 2020, the number of people who will enroll for an MBA in Project Management will increase by 2% over the previous years. Companies and bodies want to know how quickly you can effect a task and an MBA will, to a reasonable extent, give an edge over others.

How you want your learning structured if you decide to do an MBA is left to you. Recent graduates usually love onsite learning where they compare their campuses to their former institutions. Professionals tend to stick with online learning which affords them the chance of studying while working.

With an MBA in PM, you have various career fields to choose from. The top jobs however are Project Management, Project Management Consultant, and Operations Manager. Subjects to be offered are risk analysis and management, project communications management, planning and resource management.

Post Graduate Diploma in Project Management

A PG Diploma in Project Management are programs made for student to get a quick idea about how to apply Project Management methods to professions. Project management focuses on resource management, office management, financial management and more. PGD helps students in developing their communication skills and how to manage time efficiently.

Project Management courses and certification

Best Project Management certifications are

CompTIA Project+, Certified Project Manager (CPM), Associate in Project Management (APM), Certified Associate in Project Management, Project Management Professional (PMP), Professional in Project Management (PPM), Certified Scrum Master (CSM) etc.

Inventory Management Tools

Top Inventory Management Tools and Techniques – SDE, VED, FSN Analysis

An inventory analysis is vital for the smooth running of the entire business operations. It entails understanding the availability of business products in relation to the demand for specific products.

Having a sound inventory control is something all businesses must strive to acquire, as it puts them in a position where they can maximize their products in relation to consumer demands. It is essential for businesses to practice regular inventory analysis so as to gain proper inventory control.

One of the critical roles of inventory analysis in any business setting is that it helps to make decision making easier, most notably in regards to protecting vital assets. Furthermore, the combination of products classification and inventory analysis can help improve an organization’s inventory control.

More importantly, a proper inventory analysis enables businesses to achieve a good Return on Investment (ROI).

So, how does a business carry out its inventory analysis?

Well, this is where top inventory techniques such as FSN Analysis, VED Analysis, and SDE Analysis come into play.

Inventory techniques

SDE Analysis

This analysis deals with the availability of an item in the market. It depicts whether a particular material is scarce or readily available. SDE Analysis is highly beneficial in a market environment where certain items are not readily available. In such situations, it offers the right guide in choosing inventory policies in relation to material availability. The inventory is classified in the following way

  • Scarce (S): This generally refers to materials that are in short supply (i.e. scarce). Materials that usually fall into this category include; imported materials, raw materials, and spare parts.
  • Difficult (D): This signifies materials that are not easily found in the market or would have to be gotten from a far place. It also refers to materials with limited suppliers.
  • Easy (E): This generally refers to materials that can easily be found in the market

VED Analysis

VED analysis in inventory management deals with the classification of materials based on their importance to other materials.

  • Vital (V): These are essential materials whose non-availability while putting a halt to business operation. These materials need to be in stock at all times else, production will be affected.
  • Essential (E): This refers to materials that you require a certain amount of. You just require a minimum amount of them to keep production active.
  • Desirable (D): This refers to materials that do not really affect production. Production can run with or without these materials

FSN Analysis

FSN analysis in inventory management deals with the classification of items based on usage, consumption rate, and quantity.

  • Fast Moving (F): This refers to materials that have a high usage frequency
  • Slow Moving (S): This refers to materials that have a slow usage frequency
  • Non-Moving (N): This refers to materials that are only utilized for a specific duration

Are You Chartered Manager from Chartered Management Institute

In the present day and age, we often come across a scenario where organisations under- perform as a result of being over – managed and under-led! This is not a surprising scenario as there exists a disparity in connecting Leadership to Management. The Fact of the matter is, Leadership and Management are essential for the success of an Individual and the Organisation. Hence more and more organisations are turning towards the Chartered Management Institute, UK (CMI), with the aim of creating Managers who are leaders capable of making better, faster and smarter decisions.

Creating leaders with CMI

CMI is one of the few institutions out there with a rich tradition of developing true management professionals with a focus on Leadership and continuous professional development. Exeed School of Business and Finance has now partnered with CMI to launch three unique and exciting courses which bring value, credibility and chartered manager status to professionals in the Middle East – Project Management Practitioner (PMP), Certified Supply Chain Management practitioner (SCMP) and Strategic Human Resource Management Practitioner (SHRMP).

The ‘Chartered Manager’

CMI is the only place where a professional can get a ‘Chartered Manager Status’ and research shows that Chartered Managers are worth AED 17,12,400(Professionalising Management, The impact of Chartered Manager, 2012). This is, without doubt, a giant leap!

To conclude, Organisations require robust leadership and robust management to create the optimal amount of organisational efficiency. So then, what are we waiting for? Let’s go get our ‘Chartered Manager’ Status today!