The Five Key Managerial Skills - 1075 Words

1.Technical skill, interpersonal skill, conceptual skill, diagnostic skill, and political skill are the FIVE key managerial skills that a manager needs. A well-developed technical skill can contribute to management ability to succeed. Managers whom understand a specific activity that involves methods, processes, procedures, or techniques is considered a good manager. In order for a manager to conquer their goal he or she must prepare a spread sheet analysis, upload information onto a social networking site, develop a marketing campaign, and demonstrate a piece of electronic equipment. Interpersonal skill is a manager’s ability to work effectively as a team member and to build cooperative effort in the unit† (17). An important part of†¦show more content†¦2. Behavioral approach to management – an approach to management that emphasizes improving management through an understanding of the psychological makeup of people (22). Contingency approach to management- a perspective on management that emphasizes that no single way to manage people or work is best in every situation. It encourages managers to study individual and situational differences before deciding on a course of action (27). 3. An important part of interpersonal skills is communication skills which for managers is multiculturalism. Multiculturalism is the ability to work effectively and conduct business with people from different cultures (18). 4. Managers perform outsourcing. Outsourcing revolves primarily on finding an individual or organization to perform a specific task for his or her company (40). Also, managers perform offshoring, which is also known as global outsourcing. Offshoring refers to outsourcing but involves communications and connections not only within the country but among foreign countries as well (40). â€Å"A global force behind global outsourcing is the pressure discount retailers such as Wal-Mart Target, and Dollar General exert on manufacturers to keep their prices low† (40). 5. NAFTA (The North American Free Trade Agreement) On January 1, 1994, NAFTA established liberal trading relationships among the United States and