Developing Masterful Management Skills for International Business

Thomas A. Cook

• Publisher: CRC Press
• Year: 2018
• Print ISBN: 9781482226102
• eBook ISBN: 9781351644440
• Topic: Business
• Subtopic: Management
• Index: Business

This book focuses on the new challenges created for managers by the recent recession. Executives need to learn new skills and run companies delivering results under an entirely new set of conditions and working environments. This book analyzes these issues and provides step-by-step guidance on how to improve decision making. It provides readers with management tools that enhance the opportunity for positive growth and better results. The book maintains a focus on the changes in the new economy and how to manage successfully in this new environment.

1

Understanding and Executing Successful Leadership and Management

This chapter explores the differences and similarities along with the connective tissue of quality leadership and effective business management.

This chapter also outlines the difference in developing comprehensive business strategies and in executing tactics, actions, and plans.

It sets a solid platform for understanding the role of leaders and managers in global business models looking for the best opportunities in sustainability and long-term growth.

And in managing a team of personnel, keeping them headed in one direction and all on the same page.

The other seven chapters delve into the following areas:

• Defining leadership and management

• Quality leadership skills

• Business management skill sets

• Emotional intelligence

• Better decision making: Qualitative versus quantitative

• Strategic planning

• Negotiating

• Going global

• Global regulatory and trade compliance

• Action plans and accountability systems

• Financial prowess

• Risk and cyber security

• Training and education

• Creating sustainability

Great things in business are never done by one person. They’re done by a team of people.

Steve Jobs

DEFINING LEADERSHIP AND MANAGEMENT

There has been an ongoing debate among philosophers, academics, entrepreneurs, and business professionals for over 10,000 years on just:

• What is leadership?

• What is management?

• Are they the same or different?

• What makes good leaders and good managers?

Defining leadership: There are many definitions outlined by various sources … one I prefer is … that leadership is the art of motivating a group of people to act toward achieving a common goal. Or in other words … creating a distinct group of followers for a common cause.

Defining management: The best definition I have found is: The process of dealing with or controlling things or people.

Leadership and management, though closely aligned, are two separate things. Individuals that have both characteristics and skill sets are in the best position to be effective powers of change in any organization, which will always allow the best opportunity for growth, profits, and sustainability.

The three key components of business management and driving success!!!

In much of the consulting work I do, I have noticed that everyday people assume that being a good leader means that you are also a good manager and the two are interchangeable.

The two concepts are both theoretically and functionally quite different and comprehending that distinction is relevant to how one navigates their executive path.

Management overview: Tactical execution is a critical aspect of the manager’s path in any organization, and management is smaller scale and more focused on details than leadership. The leader creates a strategic plan, then sets the vision. Management then executes what is needed to achieve the desired results of the strategic plan.

Management traits are:

• Ability to follow the direction provided by the strategic plan and guidance of leadership

• A practical and tactical focus on executing strategy

• Executing on defined areas within their responsibilities

• Formulating and enforcing the policies of a business to achieve its goals

• Directing and monitoring their team to achieve their specific goals

• Reducing risk and spending in the organization

• Communication intermediary between personnel and corporate leadership

Effective skill sets in:

• Organization

• Communication

• Finance and Accounting

• Human Resources

• Project Management

• Risk Management

• People Handling

• Accountability and Responsibility Systems

• Problem Resolution

• Decision-Making Prowess

Leadership is not necessarily getting caught up in all the details, but rather setting the plan and inspiring people to follow them.

Leadership traits are:

• Ability to determine, visualize, structure, and communicate a vision

• Ability to earn a following, loyalty, and support from a following group of people

• Strategic focus on the organization’s needs

• Establishing company values, missions, goals, and direction

• Creating a corporate culture that allows success of the mission

• Empowering and mentoring the team to lead them to meeting corporate objectives and deliverables

• Risk taker

• Long-term, high-level focus

• Be the face of the company

Management versus leadership

“Tactical versus Strategic”

In other words … leadership is setting the culture or nature of an organization, the broad objectives, strategies, and long-term goals.

Managers become the instruments within a company structure that execute the plan to attain corporate goals.

Any organization or business needs people who are good at both leadership and management if they are going to succeed.

The quandary that can exist is that … with good management and poor leadership, they will be able to execute tactics successfully, but will be doing so without a clear direction and overall strategy. With good leadership and bad management, a company will have the goals and inspirati...

Table of contents

• Cover
• Half Title
• Title Page
• Copyright Page
• Dedication
• Table of Contents
• Foreword
• Preface
• Acknowledgments
• Author
• Chapter 1 Understanding and Executing Successful Leadership and Management
• Chapter 2 Business Management Skill Sets
• Chapter 3 Financial Considerations
• Chapter 4 Going Global—The Business Case to Go Global: Foreign Purchasing and Export Sales
• Chapter 5 Mastering Business Development
• Chapter 6 Decision Management
• Chapter 7 Delivering Successful Negotiations
• Chapter 8 Building the Sustainable Business Model
• Appendix
• Index