Business Management

The Need for Management Capabilities

According to Klassen, et al. (2016), any business to prosper and maintain its productivity in every market, leadership is always a vital tool for its success. By this, the business would defiantly need new management capabilities so as to diffuse new ideas and implementation technics to the business. 

Where to Find the Capabilities

The best place to get this skills is from experienced managers who are well vast with the businesses dynamics in terms of operations and its target market. As a result, the business is to source such managers from other companies in the same industry, by advertising the vacant position. 

Management Capabilities Needed

Specifically, the business requires managers who are innovative with regards to product and service rendered by the business and how to improve it. For example, one who understands technology and how it can be implemented in the business. Also, a manager who is strategic and has visionary skills, where if applied the skills are capable of reducing risk, save cost and predict market trends for the business through the strategic leadership capabilities. Finally, performance and people leadership skills. These capabilities are intended to merge the labor force in the business with maximum output, for example through motivation of the employees as well as noticing talent weaknesses and strengths as well as coordinating those attribute so as to get maximum results from the employees. 

Interested Parties

There is variety based on the interested individuals to work in the business setup.  Ranging from employees who are not comfortable with their current employment, those that are aspiring to have a career growth in the field of management as well as notable classmates that possess the required managerial capabilities that the business needs to remain competitive in the market.  

Reference

Klassen, R. D., Chowdhury, I. N., & Huq, F. A. (2016). Social management capabilities of multinational buying firms and their emerging market suppliers: An exploratory study of the clothing industry.