Role and Importance of Management

For the development of the managers, it is significant in recognising the fact that most individuals require certain assistance as well as training for having the ability in the fulfilment of the new roles that is needed from them. Formal training might be considered to be proper for increasing the manager’s specialist knowledge, but the major assistance will probably be to support them in growing into their new role of management with poise. There occur various training options in the current scenario that includes formal courses that are functioning externally or less formal training courses that are functioning internally that might prove to be effective and the managers might get benefitted from the on-the-job training they receive. Moreover, along with the skills training, it is also necessary to develop the manager’s team spirit as well as training the manager’s in a diverse as well as flexible manner. The two methods that can be used for the development of the managers are professional performance measurement as well as personal performance evaluation and rewards.

Professional Performance Measurement

Performance measurement focuses on key performance indicators (KPIs), objective issues that can be identified as well as measured in a clear manner like sales figure, output for production, financial performance as well as machine downtime. Targets are considered to be the foundation of key performance indicators. Their assessment should form the part of a daily process of reporting that might be considered through written monthly reports. For considering the factors associated with performance measurement, a very significant tool is known as the balanced score-card method. The balanced score-card method is a tool of management that will be allowing the managers in defining their targets as well as putting them into action. It then offers feedback that is enabling the managers in the implementation of a program of constant development.

Personal Performance Evaluation and Rewards

Each and every manger should be part of an official method of appraisal for the evaluation of individual development. A better system of appraisal can be very much effective in the identification of the supporting requirements and is also one of the effective methods to judge the performing ability of the managers. An efficient method of appraisal is having four significant stages viz. setting goals, managing performances, carrying out the appraisal as well as providing the rewards. New evaluation processes for the development of the managers will be including the 360-degree appraisal, in which inputs regarding the performance of the manager are taken from various sources like other managers, colleagues as well as junior employees. As a result, it can be concluded be concluded by saying that the above mentioned methods will be assisting in developing the managers.

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