Dragon Finance Part 2

Skills and role of managers in organizations

Manager is a person who manages the organization and leads it towards success. He makes plans and directs the work. He is responsible for achieving goals of organizations. Management means planning, organizing, staffing, leading and controlling. There are many skills managers should develop to achieve best results in employees performance .Motivation is a key factor in increasing employee’s performance and increasing productivity of organization. According to Jan Gordon, manager should be creative. Creativity attracts attention of people. Managers should be structural. It means that he should know how to work within structure. A manager should understand feelings and behavior of employees. A manager should be knowledgeable. He should train and educate staff. A manager should be committed to project success. He should be a role model for employees. He should understand their problems and provide quick solutions. He should be versatile and flexible. He should be a disciplined person. He should organize tasks with discipline (Sousa, Ruzo, & Losada, 2010).

Manager should be able to mange time and stress at work place. He should have verbal communication. He should be a good listener. He should recognize problems at workplace and between employees. He should solve those problems. He should motivate and influence employees.  He should have clear awareness of information. He should be delegated. He should manage conflicts among employees and he should be a team builder. He should be able to work as a leader in team. (Whetten & Cameron, 2010)

Assignment on Dragon Finance Part 2 By ABC Date: Skills and role of managers in organizations Manager is a person who manages the organization and leads it towards success. He makes plans and directs the work. He is responsible for achieving goals of organizations. Management means planning, organizing, staffing, leading and controlling. There are many skills managers should develop to achieve best results in employees performance .Motivation is a key factor in increasing employee’s performance and increasing productivity of organization. According to Jan Gordon, manager should be creative. Creativity attracts attention of people. Managers should be structural. It means that he should know how to work within structure. A manager should understand feelings and behavior of employees. A manager should be knowledgeable. He should train and educate staff. A manager should be committed to project success. He should be a role model for employees. He should understand their problems and provide quick solutions. He should be versatile and flexible. He should be a disciplined person. He should organize tasks with discipline CITATION Car10 \l 1033 (Sousa, Ruzo, & Losada, 2010). Manager should be able to mange time and stress at work place. He should have verbal communication. He should be a good listener. He should recognize problems at workplace and between employees. He should solve those problems. He should motivate and influence employees. He should have clear awareness of information. He should be delegated. He should manage conflicts among employees and he should be a team builder. He should be able to work as a leader in team. CITATION Dav10 \l 1033 (Whetten & Cameron, 2010)Key management skills are divided into three parts. These are personal, interpersonal and grouping. It includes development of self awareness among staff, communicate strongly, managing conflicts, power and influence gaining, building team members, leads positive change in organization, solving problems and managing stress. It also includes empowerment and delegation. CITATION Eva13 \l 1033 (Markaki, Sakas, & Chadjipantelis, 2013)Change management Management skills are embedded in behavior. These are not personal. These skills lead towards productive results. Skills are controlled by managers and improved by individuals. Through practice and experience, these skills can be developed and improved. All management skills are linked with one another. Managers should use collection of skills to enhance performance of employees. Managers identify and decide vision of organization and communicate this vision to staff and achieve it with the help of contribution of staff and his personal skills. Role of manager in organization is to plan operation and tasks of that to which he is assigned. He organized people, resources and work in order to achieve desired goal. He provides directions to work force for achieving productivity. He monitored the results and performance of employees for further improvements. Another study reveals that managers should be flexible, innovative, creative, open minded and willing to change to be successful in export operations. CITATION Car10 \l 1033 (Sousa, Ruzo, & Losada, 2010) For effective change management, managers should have communication skills. He should be a good listener for efficient communication. Managers should analyze reaction of employees for change. He should continuously improve the organization. He should provide good environment for work. Motivation plays vital role in increasing performance of employees and successful implementing change in organizations. Manager should communicate change towards employees and should listen their opinions about change. All employees have different point of view. He should convince employees for change. He should have convincing power. He should analyze benefits of change before implementation. CITATION Min10 \l 1033 (Chew, Cheng, & Lazarevic, 2010)Conflict management In case of conflict among employees, manager should have dominating power to resolve that conflict. He should listen with patience to employees. He should be a good decision maker in case of conflict management. He should learn from that conflict. Another study revealed that conflict management styles are important for managing conflict. It means that which style is adopted by manager to handle conflict. Five variables were used in study. These were accommodating, dominating, avoiding, integrating and compromising Results of study indicated that for effective conflict management, manager should be integrating and dominating. He should not be accommodating, avoiding and compromising. CITATION Jea11 \l 1033 (Trudel & Reio, 2011)Stakeholder’s management As per stakeholders, management, manager should have different and multiple tactics. He should run profitable business by generating positive cash flow, growth of sales and financial performance. He should also provide true and fair information to stakeholders. He should develop codes of ethics for business operations. He should fairly deal with suppliers, customers and stakeholders. Stakeholder’s relations should be managed effectively by managers. Stakeholder increases the success of project. Manager should conduct analysis of stakeholders for effective communication with them. He should identify each stakeholder’s interest and role in project. He should also analyze sensitivity of various stakeholders and their expectations. Successful communication can be done by maximizing expectations and minimizing surprises. Feedback of stakeholders can be a good approach after delivering project information. Project manager should competent to demonstrate and encourage delegation authority, should develop structure for engagement, and should adopt informal ways to reach the busy stakeholders. CITATION DrJ08 \l 1033 (Brown, 2008)Team management Team manager plays important role in managing members of team and leads his team and organization towards success. Communication in team is very necessary. He should co-ordinate the team members. Being a team leader, he should be role model for entire team. He should provide directions and ensure task accomplishment. He should provide true and fair guidelines. He should provide clear vision of project. He should motivate and encourage team members. He should listen problems of team and resolve them CITATION Car10 \l 1033 (Sousa, Ruzo, & Losada, 2010). Theories and models of high performance and motivation Employee performance is how efficiently employees are performing their tasks. It is not the quantity of work but it is quality of work produced by employees. Performance is evaluated on basis of quality of work produced by employees. Performance model has two sides. On one side, there is problem size and on the other side, there is execution time. For managerial jobs specific job performance models has been developed. In 1970, Brumback and Vincent developed 26 dimensions of job performance. Different models have been developed by different authors to evaluate employee’s performance. Expectancy theory of motivation examines that at which extents individual valued the outcomes CITATION Jea11 \l 1033 (Trudel & Reio, 2011). Motivation and employees performance has positive relationship. With the increase in motivation, performance of employees and organizational productivity increased. Employees can be motivated in various ways. Reinforcement can be negative and positive. Positive reinforcement is incentives and benefits to increase productivity like commission based on sales, bonuses based on performance. Various theories exist for employee’s performance. It includes promotions and rewards of achievement. Negative reinforcement is warnings and reduction in salary. Other benefits can be intangible like appreciation. Clear goals are also a source of increased motivation. Employees should be well informed about their duties and tasks. Motivated employees contribute more towards profitability and productivity CITATION Eva13 \l 1033 (Markaki, Sakas, & Chadjipantelis, 2013). Investing in employees and their knowledge is very important asset of company. For better organizational performance, human resource development is necessary. It means to invest in knowledge and skills of employees. Human resource investment is compulsory as well as capital investment. Firms can gain advantage of performance maximization by enhancing skills of employees. By increasing commitments and motivating employees, high performance could be achieved. Social capital theory of high performance states that social capital of organization increases the performance by assessing resources embedded in organization and by sharing knowledge by the employees. Social capital of organizations is that capital which exists within organization. This capital can also be developed by organizations itself and it works as comparative advantage. CITATION Jod10 \l 1033 (Jody Hoffer Gittell, 2010)Hierarchy of needs theory is motivational. It is also called Maslow theory of needs. It states that there is a physiological, safety, social, self-acquisition and self-development need. Physiological needs include food, shelter and other needs relating to our body. Safety needs relate to protection. Social needs are related to society like love and affection. Self-acquisition needs related to self-respect. Self-development needs include desire of getting power. Maslow states that primary needs are physiological and safety. These are fulfilled by every individual. All other needs are secondary needs. These are fulfilled by outside ways for example by receiving money. This theory contributes in decision-making process when employees are motivated CITATION DrJ08 \l 1033 (Brown, 2008). Two factors theory of motivation was presented by Frederick Herzberg. It is also called motivation hygiene theory. He separated factors of satisfaction and dissatisfaction in job place. He concluded inverse relationship between intrinsic and extrinsic motivators. Intrinsic motivators are growth, work challenge and relationship. Extrinsic motivators are salary, status and job security etc. Extrinsic motivators cannot increase motivation but in absence of these factors employees will be dissatisfy. Same like that intrinsic factors of motivation increase motivation level in case of its presence at work place. For success of work force, managers should consider both factors. In order to increase motivation he should increase growth, status and responsibilities. In order to decrease dissatisfaction, he should work on job environment and working conditions. Manager should work on both dimensions to increase satisfaction and decrease dissatisfaction. CITATION icu13 \l 1033 (Ticu, 2013)There are many Theories of influencing and persuasion. Amplification hypothesis states that certainty hardens attitude. Judgments and thoughts affected by certain attitudes. Certain attitude has power to strengthen attitude. These attitude increases resistance. Conversion theory describes the fact that for influencing majority, minority has effect of disproportionate. Majority in group joined because there was no alternate for them and it was easy. Minority has voices that are more effective. Social influence theory states that relationship with influencer is important for influencing the attitude. For example, if a big brand is providing social proof, then we will be more persuasive. It will succeed in strongly influencing its arguments CITATION icu13 \l 1033 (Ticu, 2013). Uses and gratification theory is theory of communication. It states that people only see what they want to see on social media. Social media keeps on providing that material that satisfied all individuals. It states that social media is used by people for different purposes. It can be used by people for information, relationships, entertainment and personal identification. Media dependency theory of communication explains that media helped people in achieving goals and fulfilling needs. It helps in creating interest, motives and needs among people. Berlo SMCR model Identifies communication process. Firstly, source draft messages are generated on channels. These messages are based on knowledge, skills, attributes and skills of communication. These messages include hearing, taste and smell for receiver. Receiver then interprets these messages on basis of its own knowledge, skill and culture CITATION Dav10 \l 1033 (Whetten & Cameron, 2010). Recommendations for management skill development Managers play a vital role in success and failure of organizations. Effective skills should be developed by managers to achieve desired goals and in order to achieve productivity. Skills should be enhanced continuously on daily basis. These skills are not isolated with but these are interlinked with each other. One key for success in managerial development for Dragon finance is effective and timely communication. Communication is necessary for every relationship, for effective managerial- employee’s relationship, communication is necessary. Through communication, managers should provide updated information of organization. He should provide information for efficient and quickly completion of their tasks CITATION Min10 \l 1033 (Chew, Cheng, & Lazarevic, 2010). There is two type of communication in organization. One is one-way communication and second is two-way communication. In one-way communication includes sending messages towards employees and customer. Two-way communication includes response of these messages in form of their feedback. He should provide information about specific task of every individual and recognize his duty as a member in organization. Timely communication is necessary for success. In time of conflict, manager should listen and communicate with employees. He should provide timely solution of problem. It is a key to win-win situation CITATION DrJ08 \l 1033 (Brown, 2008). Conclusion and Recommendation It can be concluded and recommended that he should understand their point of view. Another skill for Dragon finance manger is to develop a strategy to look out day-to-day activities in eye of overall business objectives and vision. He should analyze long-term business objectives and work for it with the help of employees. He should arrange for proper training and educate employees. He should be good motivator. Motivation is very necessary for good performance and increased productivity. Manager should motivate employees on their performance and identify factors necessary for motivation. He should understand each employee’s motivational factor. He should provide true system of incentives and rewards. He should analyze performance and motivate employees for good performance. It is also very important in achieving desirable goals CITATION Car10 \l 1033 (Sousa, Ruzo, & Losada, 2010). References BIBLIOGRAPHY \l 1033 Carlos M.P. Sousa, E. R. (2010). The Key Role of Managers’ Values in exporting. Journal of International Marketing, 18, 1-9. David A. Whetten, K. S. (2010). Developing management skills. (6th, Ed.) Prentice Hall. Dr. James T. Brown, M. H. (2008). The Handbook of Program Management: How to Facilitate Project Success with Optimal. Evangelia N. Markaki, D. P. (2013). Communication Management In Business. Social and Behavioral Sciences, 3, 319-326. Jeanie Trudel, T. G. (2011). Managing workplace incivility: the role of conflict management styles- Antecedents or Antidote. human resource development quaterly, 22, 395-411. Jody Hoffer Gittell, R. S. (2010). A social capital model of high performance work system. 1-34. Mindy Man Min Chew, J. S.-L. (2010). MANAGERS’ ROLE IN IMPLEMENTING ORGANIZATIONAL CHANGE: CASE OF THE RESTAURANT INDUSTRY IN MELBOURNE. Journal of Global Business and Technology, 2, 58-67. Ticu, D. (2013). Theories of Motivation in Public Policies Process. Social and Behavioral Sciences, 92, 925-929.

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