Finance Tips for New Businesses

It has been a debate forever about the role of a Manager and what knowledge and skills does a manager need to possess to be effective in his/her role? When we talk about the role of a manager, it is the context of the business environment and what are they expected to do? There may be different expectations in different organization environment even then when the managers as a cadre is discussed, there a platform in which they are evaluated and rated one above the other based on their contribution, skills and competencies. So, it is the knowledge and experience of a manager that sets him apart from the other. A lot of managers operate out of the conventional wisdom and are reluctant to experiment anything new lest it fails! There is nothing wrong or right about it, it is a managers prerogative how he wants to operate, however, past statistics have always proven that the individual approach, style, beliefs, values etc have a bearing on the people who work for these managers or are a part of the team.So, what is it that Great Managers know? What is that powerful insight that the world’s great managers know and use in their daily work life that puts them ahead of the pack and helps them get the best out of their people? Is there actually a prescriptive knowledge capsule that one can use to have people queuing up to work for you? In many books, the writers have outlined a collation of insights that managers across the world have shared about their experience of working with people and their observations converted as their beliefs. Very interestingly, the insights are as follows:”People don’t change that much”"Don’t waste time trying to put in what was left out”"Try to draw out what was left in”"That is hard enough”It may be fair to calibrate this as the powerful insight that base the wisdom of great managers and often it can be attributed as the success factors of the Mangers’ success. Of course the seemingly simple insight is difficult to decipher and even more difficult to use in the work life. It needs a sophisticated approach by the practicing manager to use the insight effectively and increase the effectiveness quotient.Once the knowledge is acquired, the real challenge is to put the wisdom/knowledge to apply this in the respective organizations. As a manager, it is important to anticipate what will it call for the employees, how will it impact the organization etc while applying this insight.Referring to the initial statements on the Role of the Manager, one of the key roles that the managers play is of the Catalyst. Yes, you as a Manager play the role of the catalyst an in you capacity unleash the individual strengths of each of your team members and effectively translate them into performance as per the organization standard. What differentiates one manager from the other is how effectively this role of catalyst is being played! The other differentiator is the ability of the manager to play multiple roles at the same time, one is expected to be the Individual Superstar, subject matter expert, and leaders in their own way! The manager aspect of their role is often most effectively lived by playing the Catalyst role with each team member and turn it into a success story. It is the “individual approach” that works well, you may choose a person, set expectations, motivate the person and develop the person, this multiplied into the no of team members and you have got it all right to etch your name as one of the World’s Greatest Managers!To be equally great in your organization context, it helps to refer the defined competency of the manager in your respective organization and benchmark them with the managers’ competency in general as listed by various organizations.