MODULE 1

The relevance of an entrepreneurship to the managerial skills.

MANAGERIAL SKILLS - leadership, management

It is the abilities the managers should have

Management/managerial skills are a collection of capabilities such as:

1. Business planning
2. Decision making
3. Problem solving
4. Communication
5. Delegation
6. Time management

Learning by doing
How to help or how to deal with associates/colleages:
1. Practical experience as a manager or a leader
2. Learning

Difference between leader and manager

Leader
have people follow them, who leads or command a group or organization, has
charisma, and firm to its decisions
• Ask question
• Has followers
• Motivational
• Show you how
• Create change
• Makes heroes
• Develop power

Manager
have people who work for them, Responsible for controlling or administering, Fair or
listens to people who works for them
• Gives direction
• Has subordinates
• Holds authority
• Tells you want
• Reacts to change
• Tries to be a hero • Excercise power
CRUCIAL - IMPORTANT
10 management skils:
1. PEOPLE MANAGEMENT SKILLS- how you manage people or your members with
EQ or emotional intelligence. Listen to their feedbacks.

2. COMMUNICATION SKILLS- Talk to your members and create bonds. Good leaders
must have good communication skills through verbal, written, and listening. It's crucial
for a manager. Use it to build good relationships.

3. TECHNICAL SKILLS- How to use computers or any technologies. As a leader, you

need to be able to do what your staffs or members can do. You should know how to
troubleshoot.

-How to develop technical skills:

• work experience;
• Job training; and
• Formal education.
Other key concepts related to technical skills:
• Risk management process
• Claims management process
• Risk control
• Risk financing
• Risk analysis
• Project management
• Insurance knowledge
• Vendor relations
• Enterprise risk management

4. CONCEPTUAL SKILLS - The ability to identify the problems and to analyze complex
situations. The most important management skills. The capacity to see a bigger picture
in an organization.
• It is the ability to solve a problem is and you can forsee what will happen to your
business.
• Conceptual framework- Serves as a tool for analyzin the he state of things variable or
concepts and their interactions or a comprehensive understanding of a phenomenon.
• Allow them to understand the impact of their decisions.

• Top conceptual skills

1. Problem-solving
2. Abstract thinking - consider concepts beyond what we can see.
3. Brainstorming - group discussions to produce ideas or solve problems
4. Creativity - think outside the box, an original idea came from artisitic work.
5. Innovation - try to create something new and unique
6. Decision making - by making and by identifying better solutions as your decision.
Collect informations and anticipate solutions.
7. Time management - it is the ability to manage your time.
8. Teamwork and communication skills - people should work together and successfully
complete the task.
9. Critical Thinking - you question, analyze, interpret, and evaluate your ideas.
10. Persuasion - the action or act of persuading someone to believe something or do
something.

5. LEADERSHIP - lead by example, who gives direction and motivates your team. Always
give credit to group.

6. PROBLEM SOLVING SKILLS - Have a good manner when you're trying to communicate to
its members.

7. TIME MANAGEMENT SKILLS - Time is gold.

Improve time management

1. Focus on the most important task first.
2. Don't procrastinate and delegate routine task.
3. Prioritize task.
4. Fix a specific time for answering calls.
5. Eliminate unnecessary work.

8. DIRECTING - you should be knowledgeable with your tasks. Where you take charge on
people what to do with respect. A process of techniqiue of instructing.

9. OVERSIGHT SKILLS - reviewing business models and checking target timelines.

DOMAIN KNOWLEDGE - know the process in the field. You must have the experience and be
knowledgeable enough to understand the situation and make decisions.

10. DIAGNOSTIC, ANALYTICAL, AND DECISION MAKING - You need to diagnose first the
situation, then analyze what to do, and lastly, decide or finalize what is the best solution among
solutions.
• DIAGNOSTIC are skills that Improves understanding of the specific mechanics of any
particular situation. Visualize your results.

• ANALYTICAL - includes cognitive domain, refers to cognitive abitlities that allow you
gather informations, do research, interpret data, and draw conclusion in order to make
decision, whether it is in a professional or personal context.

Basic analytical skills

1. Critical thinking
2. Communication
3. Data Analysis
4. Logical reasoning
5. Research skills
6. Creative thinking
7. Decision Making

Decision making
The judgement of the process by which one can choose between a number of
alternative courses of action for the purpose of achieving goals.