Personal Management Philosophy: Beliefs & Experiences

Personal Management Philosophy Institutional Affiliation Student’s name Course Name /Section Professor’s name Submission Date   Abstract Entailed in this paper are my management philosophies and the beliefs, experiences, values, priorities, training, education, and expectations of myself and everyone working for and with me. Everyone has a different personality, experience, and background which shapes and guides their management approach and style. Discussed are the core philosophies that shape my approach to the daily business challenge.   I. Introduction A management philosophy is a set of beliefs that an individual in a management position utilizes to guide the decision-making process (Olsen, 2005). Management philosophies are beneficial in that, they govern all areas of a company and organize a business around specific goals. Different philosophies govern each facet of a business, including a company’s overall organization, the methods of employee motivation, the company philosophy for customer relations, and the methods in which the company addresses and prepares for problems. II. Discussion My management philosophy entails providing an environment that successfully produces productive employees. This is achieved through keeping the morale high, conflict management, encouraging low performers, and rewarding the strong ones. Management should guide employees to execute their duties effectively. This entails various meanings. First, it means that management should present challenging tasks related to the job which in turn gives the employees' experience. This further stretches their ability and brings growth. Additionally, by guiding employees to execute their duties effectively, it benefits the company since the employees will be more productive. As a future manager, I am aware that I will be tasked with inspiring and leading the people working for and with me. This entails planning for team success and fulfilling whatever it takes to run a business. Five major functions are deemed as the ways in which management should interact with and lead employees. From planning to reviewing, the more precise management is, the more effective the business is in achieving its goals (Cooper, 2000). Planning Actions As a function, planning actions evaluate a company’s goals and then establishes a strategy for success (Koester, 2003). Planning actions evaluate the existing goals and activities. Managers then plan activities that will cause the achievement of those goals. Leaders must become problem solvers, capable of seeing the big picture while also recognizing specific things that affect overall success. For instance, if a company’s goal is to improve the time taken for customers to have their orders fulfilled, here, an operational strategy is executed to improve product fulfillment. Organizing Resources The function of organizing combines resources to reach the goals set in the planning function (Kerzner, 2017). Resources include personnel, materials, and financial backing. Leaders must distinguish what activities are requisite; appoint those activities to specific employees, successfully delegating tasks. As a future manager, I will strive to coordinate tasks to keep resources moving efficiently towards goals. Prioritizing the essential resources at all times is critical. For instance, if the inventory if required, but the company’s funds are insufficient to acquire the inventory, the priority here is tackling the financial need. Staffing Resources Whenever a business is short-handed, it significantly cripples the company’s ability to cater to customers and further overburdens existing staff. Management must identify staff positions and ensure the proper talent is executing that specific duty (Harvey, 2000). Upon the establishment of the right staffing structure, leaders need professional development, training, monitoring performance, and pay rates. Effective leaders are capable of developing talent and identifying those ready for promotion. Directing Activities Directing activities is critical. Informing staff about when and what needs to be done is a managerial responsibility. However, bosses instruct employees on what they should do, whereas leaders motivate their employees to contribute in meaningful ways. The function of directing requires leaders to go beyond delegating tasks, even though for business success, tasks must be completed. This function starts with supervising employees while simultaneously motivating teams through guided leadership communicated in clear ways (Gillen, 1987). Controlling Systems Controlling systems entail all the processes created by leaders to minor success. This function requires leaders to set performance standards, measure performance, and compare metrics to determine anomalies (Kerzner, 2017). For instance, a leader in sales concentrates on more than the final sales numbers; he regards the leading activities like outbound calls and the number of minimum pitches. Leaders review data and make necessary adjustments in policies, personnel, processes, and training to address failures based on that data (Kerzner, 20...