Top Eight Management Skills Every CEO Must Have!

Ever since the inception of the industrial revolution era, management has undergone major scrutiny with intent to advance on its code of practice and ethics. The main aim of the refinement over the conventional change management system is intently meant to conform to the ever-increasing competitive and multifaceted global market. Failure has never been and is never condoned within any organization, especially in this phase of the 21st century.

Therefore, by passing through education system, and being acquainted with array of managerial skills, executives’ are obliged to dispense rational management decision. These decisions however, should capacitate an oversight bearing geared towards the betterment of the organizations. Having such in mind, it then calls for a self – assessment criterion by the senior managers, purposefully to gauge the personality, relative to their acquiescence to the dynamic global market.

Currently, management practice is seemingly taking new shape in understanding the need for talent in administrative practice. The search for these talents continues to diversify business and project management practices, a factor causing organizations to highly demand and retain these scarce skills. Emphases on talent stand out as a considerable factor in all the stages of evaluating the management scorecard.  Here are the top management skills that every CEO must practice to be more productive in their companies.

> A Strategic Thinker

By being a strategic thinker, it demands for the executives to be individuals with vision for the business. Laying down strategic business plans and implementing them in the phase of the projects, is key to the long-term success of their leadership style. This attribute will better place them to articulate on issues facing the organization, in both the long and short run; enabling them develop an appropriate response mechanisms to combat the difficulties. Precisely, being a systematic thinker, managers are able to configure across all the management components to derive a perceptive analysis, which yield sustainable solutions to the organization complexities.

> Revenue Builder

Being a leader, the executives pecuniary and business acumen must clasp on all the discourse of commerce. Eyeing for the top line revenues, managers should show their prowess in, interpreting financial statements, having feasible revenue generation plans and how their organization can break through the market to increase their profit margin. Besides, have a vivid elaboration on how their organization structure will well support the set strategies. Focusing on revenue detail is inevitable, thus critical emphasis should be subjected in dissecting this facade.

> A Decision Maker

Being entrusted with the overall time management of the organization, CEOs are charged with the responsibility of influencing and implementation of decisions on daily basis. Weather these decisions making power are centralized or decentralized within the organization, the final say at any level of their implementation within the organization, usually should rest with the top executives. Knowing the very nature of a strategic survey in deriving workable solutions to their organization, this role adds up a significant detail in the executives’ decision implementation.

> Team Player and A Team Builder at all Levels Within the Organization

Assigning people and resources is one of the fundamental management task. The top executives by falling under the key relation assistant are therefore charged with the coordination of all organization activities. Possessing this feature, therefore, it is therefore demanded of the executives to remain a vibrant team player; very able to voluntarily influence staff members decision to close in on gaps emerging within the environment of operation.

> Communication

This is the most vital ingredient that spices up any management practice and declares its overall success. In filing organization reports and communicating important administrative directives, internal communication plan has been the widely preferred tool in so doing. Conversely, with the current face of technology, communication can be implemented in many methods.

It is upon the administration to figure out the most suitable channel of conveying this information to their employees to be better interpreted. Communication definitely touches on a wider spectrum of any social unit and should vastly be capitalized on in setting a competitive edge in the environment of operation. For an effective communication, then it must carry along the power to influence people who have the voluntary will to comply with the top executive directives.

> Risk Management Skills

To prevent the occurrence of the unforeseen events, top executives are always prioritized to deliver in instances where organization are faced with risks. Such organization perils always result in fatal consequences within any organization as per when they occur. Therefore, in avoidance of such devastating economic and operational encounters, talented executives with ability to handle and effectively respond to such technicalities are usually lined up for high demand in the personnel market.

> Motivator at all Levels of Operation in the Organization

Towards motivating employees, top management by delegating their duties to junior staff, always portrays an integral connotation of their intention to the organization staff.  Weather using monetary or non-monetary means in achieving this rewarding system, managers’ motivational protocols speaks sound of the organization purpose. The possession and implementation of this skill further highlights on the administrative dedication to watch over the welfare of their co-workers.

> They are the Project Managers

Project management skills are prerequisite for any executive. Through tactful scheme, managers are always expected to lead over all the phases of project execution. The sanity in project implementation, require a direct participation of the management board, so us to rule on the suitability of each project. These makes it easier to declare this plans as either being tandem or in tandem with the overall long term and short term strategic goals of the business as projected. Consequently, this will eliminate time wastage on non-viable projects.

> Conclusion

Management remains a crucial component in any organization. With talents getting scarce each day, there is dire need to shift attention on assessing the level of familiarity with some prerequisite skills that would otherwise make a good manager. The strategic and systematic criterion chosen towards reaching goals echoes of their talent.

Moreover, focusing on their influence through communication and project management skills, motivational factors, decision-making skills and risk assessment levels is a plus in hiring these talents. A worthy player therefore should heavily invest in retaining these talented leaders, whilst developing their heir for a long-term healthier organization practice.

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