Managerial Skills: Universal or Specific?

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Table of Contents

Is Management a Universal Process?
Conclusion
References

Management is viewed as a universal discipline that aids governmental and non-governmental organizations, administrators, the public sector, and small firms to run smoothly. The core principles of management include forecasting, commanding, coordinating, controlling, planning, organizing, and leading the subjects within an organization. A good manager understands the development, implementation, and execution of a planned process as well as forecasting it to avoid losses and encourage quality product outcome (Moore, 2013). The information mentioned above is used to lead institutions such as banks, universities, churches, law firms, social broadcasting institutions, and small business companies across the world. The managers of the above-listed institutions do so through human resource management, conflict resolution, forecasting the outcome of an innovative process, and coordinating activities within the organization with a view of ensuring a smooth and efficient flow of resources required to accomplish a specific task. It is true that all the managers across the globe can manage different institutions accordingly. However, the skills applied vary from one institution another. For instance, the managerial skills required for banking differ from those needed to run a small business firm. Based on this underpinning, this paper will discuss whether a bank manager is capable of managing a university or not.

Is Management a Universal Process?

Different institutions require their leaders to possess certain talents which are specific to the environments in which they operate. For example, banking management requires various skills such as accounting, applied statistics, banking ethics, financing, managerial economics, marketing, business communication, and the operational skills necessary to provide the best environment for the customer, employees, and the employer of the bank involved (Maylor, Blackmon, & Huemann, 2016). Accounting skills are required for processing, measuring, and communicating financial data concerning economic entities entailed in the banking institution (Moore, 2013). In this case, the managers are charged with the responsibility of reporting the bank’s financial information to its external users including creditors and potential investors. Moreover, they calculate and record the annual business transactions with a view of generating financial statements for both the external and internal users using acceptable accounting principles.

Furthermore, business communication skills will ensure a comfortable marketing environment, efficient customer relations, and effective advertising of a brand or new products that have emerged recently. Nonetheless, good communication will help the manager to develop good public relations and interpersonal communication strategies, which are paramount to building the reputation of the company (Baraibar-Diez, D.Odriozola, & Fernández Sánchez, 2017). Additionally, banking management requires employee engagement and event management skills. With the above-listed abilities, the manager will be able to create a good relationship with investors, employees, and the external environment, which will be paramount to protecting the company’s reputation. Furthermore, the bank will be able to advertise both its old and new products to their customers. Contrary to the strategies used in the bank, school communication management involves the exchange of information amongst students, tutors, parents, school committee, stakeholders, local or national or international administration, and the supportive staff of the institution (Baraibar-Diez et al., 2017). This environment can be frustrating for the bank manager because a lot of paperwork needs to be done while still managing the financial, academic, and political issues associated with the school.

Besides, bank management requires business ethics to reflect its philosophy that aids in the determination of its fundamental purpose. Organizational values enable the banking business to stay within its limits while allowing it to realize maximum profits (Moore, 2013; Maylor et al., 2016). The ethics required for bank management are a little different from those embraced in the university setting, which entails the handling of a multitude of both irresponsible and responsible students, and staff. The ethics applied here are a little stiffer as compared to the ones followed in the banking system. According to scientific research performed over the past years, it is clear that all businesses across the world are successful because of the adoption of viable marketing strategies. Promotion of a company’s brand allows the customers to understand the advantages and disadvantages of the products they purchase (Baraibar-Diez et al., 2017). For example, banking services such as depositing, withdrawing, saving, and loan laundry among others have varying pros and cons. Therefore, the manager has to explain to the customer the importance of taking a particular function with a view of helping him or her choose the best option of his or her choice. Similarly, in the university management, the products and services provided by the institution are marketed on their websites, some college social media, magazines, and newspapers among other advertising means. These interventions enable the interested student to read and understand the information they need from a particular university and apply for various courses of their choice. It takes excellent managerial skills and experience to get all this done.

Human resource management required in banking management is entirely different from that needed in schools, colleges, and/or universities. For instance, the internal banking management system includes data collectors, data analysis, and processing agents, think tanks, innovators, implementers, and follow-up employees. The above-listed personnel ensure that all the customer needs are collected within the region of the specification. After the information has been put together, it is analyzed, processed, and used to come up with the best strategies to address underlying issues (Moore, 2013). The solution is then implemented and observed to determine whether it has met the demands of the customers. Most of banks across the world have developed applications that allow individuals to transact using their mobile phones. The human resource management in this scenario differs from that of the university management since the individuals involved are different (Baraibar-Diez et al., 2017). The human resources required in schools include the principle, financial assistance, and support staff. During recruitment, strong emphasis is put on the above-qualified individuals. The bank manager might face numerous challenges when recruiting the best candidates for the posts mentioned above.

Conclusion

To sum up, there are a lot of similarities that surface when managing various institutions across the world. Managers are regularly subjected to decision making processes that aid organizations or institutions in achieving their goals. This discussion has used the bank and university manager to provide concrete evidence that despite the management similarities, the successfulness of both the banking sector and schools is met with varying challenges. Based on my reasoning, I partially agree that the bank manager would be able to maintain a university because management uses the same principles efficiently. However, managing a college could be challenging because of the lack of experience and skills necessary to handle students and the new university fraternity. Thus, a bank manager who wishes to become a university’s principal would most likely require further education in knowledge areas such as psychology and philosophy to be able to deal with the school fraternity appropriately.

References

Baraibar-Diez, E., D.Odriozola, M., & Fernández Sánchez, J. (2017). Communication, transparency in ethical and traditional banking in Spain. Journal of International Business Research and Marketing, 2(2).

Maylor, H., Blackmon, K., & Huemann, M. (2016). Researching Business and Management. Palgrave.

Moore, G. (2013). Competition in business ethics. A European Review, 15(3), 292-292.

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Managerial Skills: Universal or Specific?

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