The four functions of management and managerial traits in high-tech industries

Functions of Management

Managerial Traits and Skills and the Four Functions of Management

In the most demanding industries, the reliability and validity of the four functions of management are tested on a daily basis. The traits and skills necessary to excel in management in these demanding industries include exceptional communication, collaboration, and planning skills and the ability to transform organizations in the process. High tech manufacturing, software development and manufacturing all are industries that bring out the need for managerial skills and traits that other industries do not (Salvaticom, 2006). Across all high tech industries where product lifecycles are very rapid and the need for quickly coordinating tasks stresses the four functions of management more than any other, the traits and skills of managers need to be more attuned to change management and transformational leadership than any other. The intent of this analysis is to evaluate how the four functions of management are made more effective with traits and skills of managers in industries that compete on time and performance in addition to products.

Planning

In the most competitive industries, planning is a continual, iterative process that often leads to changes in strategy midstream and fuels the development of new products and the definition of entirely new business units. Planning is very fluid in these time-demanding industries, and requires the traits of tolerance for risk and ambiguity in managers and leaders (Bernhut, 2009). Being able to quickly ascertain risk and opportunities and having the traits of decisiveness and exceptional communication is critical to excel in these industries as a manager. The traits of being able to think from an abstract standpoint and create unified strategy for seemingly disparate series of groups, systems and resources is also a defining trait of managers in this industry specifically. Across all industries, the traits of successful managers in the planning phase of management center on their ability to gain the cooperation of their peers, subordinates and superiors to ensure goals and objectives are met (Ebert, 2007).

Leading

The traditional definition of leadership tends to rely extensively on authoritarian and more transactional types of leadership styles. Yet the traits necessary for excelling as a leader in industries that have very rapid product lifecycles and change require a leader who can be more collaborative and focused on how to attain greater levels of cooperation and performance from shared efforts (Mamman, Baydoun, 2009). The best leaders inspire exceptionally high levels of performance by focusing on being authentic, transparent and focused on making sacrifices on behalf of the team's attainment of objectives over the long-term. These are the traits of a transformational leader as well. For any leader to truly be effective in this area of management, they must be transformational focused and concentrate on how best to grow the strengths of their team in response to the challenges of attaining goals and objectives over time (Mamman, Baydoun, 2009). Another aspect of leading is how effective a manager is in supporting his teams and tailoring individual development goals on their behalf. Being able to create development profiles for each team member and working to provide them with development opportunities over time is crucial for their success. The need for defining how the development of subordinates aligns with the current and future needs of an organization is also critical. All of these factors combine to define the traits and sills necessary to excel as a leader. The one other aspect of this function or dimension of management is that it must also focus on how best to create exceptional trust across an entire team so that each will be able to support the other (Ebert, 2007). Great leaders have the ability to do this with exceptional skill. It is a trait of their to be able to make teams work at a high level of morale and purpose together over time.

Controlling

Contrary to what many believe to be the most authoritarian aspect of management, controlling is actually focused on how effectively a manager is at sensing what needs to change quickly in order for greater accomplishment to happen. Controlling a project requires the skill sets of exceptional tact and focus while at the same time having a strong set of objectives and sense of how all parts of the organization work together to achieve a common goal (Mamman, Baydoun, 2009). The need for defining a common set of metrics and measures of performance is critical in this phase as well. The most effective managers have the traits and skills of seeking out a strong level of accountability for results in this phase of the management process. This is also the phase where the most transformational skills are the most valuable, as control requires a manager to change organizations to accomplish goals and objectives.

Conclusion

The skill sets necessary to manage the rapid pace of new product development in high technology are evident in this analysis. Planning, organizing, leading and controlling form the foundation of making an organization more effective. The traits and skills mentioned in this analysis are critically important in rapidly changing industries if a manager is going to excel and attain strategic objectives over time.