Business management is the act of organizing people, process and tools to accomplish the desired goals and outcomes of a given business.
Business management comprises organizing, planning, leading, staffing or controlling and directing a business effort for the purpose of accomplishing the entity’s listed goals and outcomes.
Robert Katz, an American social and organizational psychologist suggests that there are three basic types of management skills. These are
1. Technical Skills
Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. These skills not only involve operating machines and software, production tools, and pieces of equipment but also the skills needed to boost sales, design different types of products and services, and market the services and the products.
2. Conceptual Skills
These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. The manager is able to see an entire concept, analyze and diagnose a problem, and find creative solutions. This helps the manager to effectively predict hurdles their department or the business as a whole may face.
3. Human or Interpersonal Skills
The human or the interpersonal skills are the skills that present the managers’ ability to interact, work or relate effectively with people. These skills enable the managers to make use of human potential in the company and motivate the employees for better results.