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Management Skills and Entrepreneurship (MSE)
Management as a field has evolved over time immemorial. It began with the masterpiece of Classical/traditional management theorists, neo classical theorists and finally the Scientific/modern theorists. Henry Fayol revolutionised the field of management by coming up with the famous fourteen principles of management.
Management therefore refers to the process of by which managers coordinate the individual efforts of their employees to fulfil organisational goals and objectives which are the driving force for every Business or firm using the scarce but available economic resources in the most efficient and effective way so as to maximise output per worker while minimising the cost of production.
On the other hand, entrepreneurship refers to the process of identifying a business opportunity, mobilising resources towards the venture putting into considerations the business and market risks associated with it. Therefore, entrepreneurs are considered to be very important for the national and regional growth of any country.
According to Henry Fayol, the management skills were derived from the work which managers do. This included forecasting, planning, organizing, commanding, coordinating and controlling. For the above mentioned functions of management to be successful, proper and adequate communication must prevail within an organisation as discussed below.
Forecasting involves using the previous performance trends to determine what is to happen in future and therefore very essential in any business, organisation or firm.
Planning refers to the prior arrangements by employees on what is to happen next. An organisation needs key planners to help boost the performance of the business.
Organizing refer to effective and optimum use of the resources to successfully carry out the set plans for the firm.
Controlling refers to the stage wise checks put in place to monitor the progress of the firm against the set plans so as to ensure that every action undertaken by the employees meets the intended purpose.
Entrepreneurship has been a very important field of study due to the various roles which it has served to fulfil in our society. These roles include wealth creation and maximisation through, creation of employment opportunities thereby addressing the unemployment issues in our society. It has also helped in recycling of waste materials hence reducing pollution. Finally, it has also helped in the creation of entrepreneurial skill among people thereby providing an opportunity for people start their own businesses for self-reliance.
Management skills and Entrepreneurship is very important for the success of any firm or organisation.
Tips to consider
Start writing with brainstorming.Any essay or research paper start with creating an interesting and unique topic. Most students find it hard to make up a topic that would interest the professor. The easiest solution is check the available college paper examples available online for free use. Read the topics, write down the ones you like, conduct a research and give birth to a great topic of your own. The alternative way is to read a newspapers, watch a television program and write about any current issue going on in the world.
Proofread and edit your draft.Make sure to check your final draft before submitting it to your school. Most students are so happy they've finally finished writing their essay or research paper, they forget to spell-check and search for grammar and punctuation mistakes. Most professional writers even use the help of editors (and actually pay them for their services) to ensure the paper is coherent, well-structured and flows well.