Common Pitfalls of Modern Business Managers

Not all businesses become successful even with enough funding and logistics support. Bigger corporations are not exempt from this. Instead of looking at external factors, it would be a good idea to look at your own business organization to find out what’s dragging your company’s performance. For all you know, it might be a case of business managers failing to do their jobs properly. This is not to say that you have incompetent business managers. They may be equipped with all the knowledge, training, and expertise in their field, but they might not have the right attitude to become effective business managers.

pitfalls of business managers
Consider the following common pitfalls that modern business managers could be guilty of:

Micromanaging – there are some managers who think that effective leadership has to do with knowing every little detail about what’s going on in their own turf. On the contrary, this practice of micromanaging is counterproductive. It is a waste of the manager’s time and is too stressful for both the manager and the employees. Given certain rules and standards that need to be followed, employees should be allowed the freedom to work on their tasks in the most efficient way they deem fit. Managers, on the other hand, should stick to evaluating employee output and motivating the employees to work towards the company’s goals.

Unreasonable Budgeting – in challenging economic times like the past few years, corporate finances are cut and managers are forced to operate on tight budgets. The common reaction is to hold the funds and limit spending. While this is often necessary, cutting back on every item on the budget is unreasonable. Managers should be able to identify which budget lines to allocate funding for. Business cannot be generated without spending. There are essential costs that the company should spend for in order to expect a decent amount of revenues. These costs should be properly evaluated to ensure that only those that are likely to bring in the most revenues will be prioritized in the budget allocation.

Demanding Too Much From Employees – this is another common incidence during difficult economic conditions. As companies pare down their manpower, the existing employees are left to handle more workload than they originally had to. Productivity is hampered when managers start demanding too much from the company’s employees. The employees might not be able to cope with such demands, increasing sick days and maybe even causing the company to lose a few good men.

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View from the Top: The Business Manager’s Perspective

For the modern business manager, taking the right perspective can spell the difference between success and failure. There are a lot of facets to running a business. While the business manager has to know what is going on in the different departments in the company, this does not necessarily mean that he has to deal with the nitty-gritty of things.

business manager's perspective

Taking a bird’s eye-view of the entire company’s operations is often necessary. This allows the business manager to see the entire picture and effectively steer the company towards the right course. For this to be possible, there are several things that business manager have to do:

Delegate – You do not need to do everything yourself. It is important for a business manager to delegate responsibility. This comes with hiring the right people with the right expertise. The business manager should be able to trust these people to manage their own teams and turn in the expected input. When there are people who are capable on the ground, the view from the top will definitely be pleasant.

Know Your Figures – Even if you do not get into the small details of daily operations, you should be able to analyze your operations based on your figures. Understand the components of your financial report and know what it means for your company. A keen eye for financial detail is important to spot trends, irregularities, and opportunities that deserve more of your attention.

Stay Updated – Keeping your company competitive should be your ultimate goal. You should keep abreast of the goings-on in your industry. There are online and offline resources for news and updates about your competitors too. Knowledge is indeed power. You can then cascade the knowledge that you acquire down to your department managers. Translating such knowledge into operational changes or improvements will make your company succeed in the face of competition.

Image Credit:
Ambro – Free Digital Photos.Net

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