When it comes to business, the success of a company or team often relies on the strength of management. If the people at the top know what they’re doing, this tends to filter down through the ranks leading to incredible results. If things go right, they can go very right, but if things go wrong, disaster’s likely to strike – so what’s the key to successful management?

Managers should behave like talented actors

Leading a group of people isn’t for the light-hearted. In fact, it takes someone with a strong, confident and often theatrical personality to remain in a high position, as managers regular have to behave like talented actors.

In a one-man play, for instance, the main actor often has to take on multiple roles to ensure the audience are kept entertained for an entire production. Similarly, those in management positions are often required to play multiple roles to ensure the organisation operates smoothly. To get the best out of everyone, they have to be an:

  •  Entrepreneur

First and perhaps foremost, successful managers must make business decisions that benefit the overall organisation as a whole and this requires significant entrepreneurial skills. These strong entrepreneurial skills may entail the ability to relieve stress, train new staff effectively and the skills to spot new trends and apply these to the industry they work in.

  • Conflict cooler

When people work closely together on a daily basis, conflicts become commonplace, but it’s up to the management team to cool tensions and ensure everyone gets along in the best way possible. This may be achieved through effective communication skills and maintaining an open attitude towards staff, by taking into consideration ‘both sides’ of the conflict.

  • Resource handler

Knowing how to put your resources to good use is an important part of management which greatly effects the overall turnover and success of a company. For example, if a manager has a colleague with a certain skill set, it would be the role of the manager to assign suitable work to that person, as they are more likely to perform better and produce a higher quality of work.

  • Negotiator

Negotiations regularly take place in the business world and a good manager should have the best interests of the organisation in mind at all times. In addition to this, they should have strong problem-solving skills and be able to manage issues in a calm and composed manner.

  • Leader

When leading a team, it’s really important for managers to lead by example. One rule for one and one rule for another simply won’t work and this is a lesson which needs to be learnt quickly. For example, a good leader will hold reasonable expectations of staff and have the ability to tailor their skills to suit different situations/colleagues.

Managers should monitor their staff regularly

As well as running the show and dealing with all the issues that may arise, managers should keep a close eye on the performance of their staff by implementing agile performance management strategies.

Essentially, this involves replacing annual reviews with more regular communication ensuring any problems are ironed out straight away and are not left to fester. 360-degree feedback platforms help employees to identify their key skills and weaknesses and this is designed to improve their overall performance during future projects.

Managers should praise their staff

Publically rewarding employees that have been successful is a great way to boost the morale of individuals and create a hardworking, positive and upbeat company culture. Acknowledging achievements helps work to feel worthwhile and therefore motivates staff to be the best they can be without feeling like they’re slaving away for no purpose. Successful management relies on numerous factors, but with cooperation, respect and plenty of communication it is possible.