MANAGEMENT TEAM
Every business requires a variety of management skills in order to succeed. The entrepreneur is often called upon to perform several functions out of necessity. Some of these roles may be too troublesome or involving for one individual. The entrepreneur may then find it necessary to improve and extend some of these skills through the employment of a management team. This paper seeks to highlight the procedure of setting up a proper management team that will create a capable and efficient business.
The work of a management team is to complement each other and ensure that the leadership of the company is harmonized. Every one of the management team is allocated certain tasks on which he is active and capable. He is then expected to focus on these and partake in the overall growth of the organization. A strong management team is required for the overall growth of the company. Management team is particularly vital if the company operates in several locations, works in multiple businesses, or has diverse cultures, for example after an acquisition.
A management team requires several skills to run successfully. These include production, sales and marketing, finance, administration, and procurement and buying. Different companies require different combinations of these skills. An analysis of the company helps to identify the skills required and those that can be provided by the current workforce.
Building of the management team requires several actions. First, the business progress should be reviewed and the intended direction determined. Second, the company performance should be measured in terms of opportunities, strengths, deficiencies, and threats to identify the gaps that exist in the business and the direction the company is meant to go. Third, the skills required for the proper running of the business should be identified, those already available removed and priority places acknowledged. Once entirely sure that each of the areas chosen are necessary, the recruitment team should set to action and recruit.
Once selected, the team may require some training especially about the company the specifics. There are several training methods that may be applied. First, formal training may be used. It is however advisable to let them grow into their jobs. Second, a formal course run from home or externally may also be applied. Third, on-the-job training or part-time classes may also be used.
For growth to be obtained, it is necessary to measure the individual performance of each team member. This ensures that as suitable balance is achieved, and everyone performs their roles. Performance assessment is usually done at two levels – measurement and evaluation. Measurement usually deals with measurable values like targets, sales, and production output. The less quantifiable values are assessed using the balanced scorecard method.
Finally, to ensure growth, the management team should get involved in a personal evaluation program. This program helps in identifying support needs and identifying weakness particularly in areas that are not easy to measure. The team should keep assessing its progress to ensure that the company does not fall behind in development and production.
In conclusion, the skill set required to run a business is usually slippery for one person to provide. It is, therefore, necessary to select a management team that helps to bring together a set of all required proficiencies. The management team is the backbone of the company and determines the development of the company. It should therefore be selected with caution and regularly assessed.
