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Management Concept
The management of every sector and business are usually faced with numerous challenges that do affect their businesses in different ways. The managers always try to overcome some of these challenges and turning them into success whilst employing different models, theories, and techniques to improve on their firms’ performance. Effective management depends on understanding many significant concepts that greatly help in accomplishing and coordinating the organization. This article tends to explain some of the key concepts of management applied by Richard Branson.
The management style of Richard Branson has been one of the unique ones and has been seen as defying the usual rules of business management. Branson has had a very wonderful way of planning that ensures business continuity in every situation even in his absence by creating an autonomous company under the Virgin umbrella. This is actually the best way of management since the organization will always continue to exist due to the policies set for the other employees in absence of the top manager.
Managers are encouraged to spot opportunities especially in IT and create an environment to leverage the opportunity and ensure it takes place for the betterment of the business. Richard has actually created more than 200 companies by using this concept by utilizing every opportunity that comes across. With the ever increasing competition in the market, the managers are usually expected to focus on issues that can ensure value addition to the already identified business in order to increase sales of the company. The managers should ensure that they create value for customers’ money as well as making better customer experience by focusing only on issues that are relevant to the organization (Ahmed Web).
Manager should ensure that the employees are encouraged to work and given room to make decisions on their own by trusting the staffs in getting the job done and believing in their abilities. Every employee’s decision should be respected and given chance to encourage innovation and innovativeness among employees. The management should posses a good problem solving skills that would help them in tackling barriers and roadblocks in the businesses processes by being able to take account of the current situation or changing direction and further creating challenges to the employees (Ahmed Web).
Management should always encourage competitive advantage for their businesses by creating differentiation on both the products and the company. This is possible when the management expresses courage without fear of failures. The management should also encourage innovation by involving all the staffs in innovations and implementation of the policies. The managers need to care about their employees by keenly listening to their problems and improving on them since caring managers are likely to deliver very positive results. Managers should also encourage learning by interacting with his employees and asking for their suggestions (Ahmed Web).
Managers should usually consider improving firm’s brand name by investing in social issues such as improving the echo system and sponsoring sporting activities. Managers should also develop a clear vision, goal and correct culture that is aimed at advancing the company even in future. This article is very educative and is helpful to managers of all kinds of businesses since the concepts explained in this article are practical to all the businesses. The Brandson’s way of management is very unique and has led to his success in the current competitive business world.
Works Cited
Ahmed. “Change Management,Contemporary Strategic Management Concepts.” 24 Dec. 2012: Web. 15 Apr. 2013. <http://debashishbramha.blogspot.com/>.
