Max. 100 chars: Professional & Personal Development: Crucial for a Managing Director

Professional and personal development are two distinct roles that play an essential role in an individual's life. However, both personal and professional skills are critical to a managing director in a consulting firm as they help in the accomplishment of the objectives set by the firm. Personal development comprises of the activities that can help improve the identity as well as the potential of an individual. However, professional development can be identified as an improvement of specific skills that enable an individual to perform their work with increased zeal and enthusiasm (Davies, 2005). The objectives of the company must be clear as well as comparable against the criteria that have already been established in the firm. For any manager, proper time management translates to better productivity of the individual as well as the company as a unit. As a managing director, my skills can be improved by conducting a skills audit as well as developing a personal development plan. The skills audit will help me to compare my actual abilities to the necessary skills required to determine the areas where I need to make adjustments with the help of a development plan.

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Personal skills required to achieve strategic goals

The strategic goals of a company are connected to the objectives and vision of the organization. These goals can be used as the criteria that measure the performance of the firm. To adequately perform the role of a managing director, I need to ensure that I have the necessary personal skills that will help in the achievement of company objectives. Some of the individual skills include time management, Setting SMART objectives, prioritizing work tasks, stress management, effective decision-making skills, effective communication skills as well as sufficient problem-solving skills.

Time Management Skills

A managing director in a consulting firm has to be able to distribute time to get the most productive outcome. Proper time management is essential for a productive result (Blackmore, 2010). Moreover, managers must realize the concept of time management and try to complete a specific task within the shortest time possible. I have several skills through which I can prioritize my professional as well as personal tasks. As a managing director, I am required to handle specific functions in a given timeframe. Time management also helps me accomplish time-based targets, which help to improve the results in an attempt to achieve long-term organizational goals. Time management also helps in maintaining a balance between my personal and professional life.

Setting SMART objectives

One of the key differences between a successful manager and an unsuccessful manager is the quality of the objectives developed by the manager. Successful goals should be developed using the SMART criteria, which is Specific, Measurable, Appropriate, Realistic, and Time-bound. The objectives should be clear and specific to enable easy implementation. Thus, the goal should clearly articulate the task that should be accomplished. The aim should also be measurable in such a way that the outcomes can be measured against a specific criterion. For instance, the outcome result should be measurable when compared to the expected results. The objectives set should be appropriate such that it is relevant to the mission and vision of the company. The objective should be realistic in such a way that it is developed in consideration of the abilities and resources that are needed to accomplish the purpose. Finally, the aim should be time-bound such that the goal should be achieved in a specific timeframe in order to measure the effectiveness of a task.

Stress Management Skills

Stress management skills are essential for all managing directors. According to Gumus et al. (2009), efficiency at the workplace can easily be attained if stress is adequately managed. Furthermore, stress management skills help to alleviate the negative impact of tension or conflict on an individual as it assists in the organization and management of work as well as proper supervision of the other employees.

Prioritizing Skills

The tasks should be prioritized as per their perceived importance. Furthermore, it is essential for managing directors to have prioritizing skills as it will help them allocate time in regards to the priority of the tasks. Some tasks can be stopped, and the focus shifts to completing tasks that are considered more valuable. Furthermore, when setting the priority of a job, deadlines should also be identified to ensure that more productive tasks are completed within the shortest time possible. Therefore, preferences will help to reduce time wastage.

Decision-Making Skills

Decision-making skills are essential as they indicate a manager's ability to make quick decisions when faced with a specific situation. Therefore, the managing director should be able to efficiently make decisions to ensure that strategies are developed on time, and adjustments are not delayed. The managing director should also be able to make quick decisions that will help to achieve the goals of the company on the proper time.

Problem-Solving Skills

A managing director is expected to have problem-solving skills, which will be essential in resolving various issues that may occur in the firm. Techniques such as PESTEL and SWOT analysis can be necessary for developing solutions to specific situations that are present in the organization. These skills can also be used to solve personal problems that the employees may have.

Effective Communication Skills

Effective communication includes active questioning and listening. These skills are essential for a managing director as they ensure that the subordinates understand the plan that is being communicated as well as their roles in implementing a specific strategy. In addition, effective communication skills would help to avoid any issues that are linked to confusion and misunderstandings. Furthermore, strategic leaders should be able to carry out self-evaluation, which is essential in analyzing the importance of effective communication for the accomplishment of activities at the organization.

Professional skills required to achieve strategic goals

A managing director requires several professional skills in order to achieve the strategic objectives of the company. These skills include leadership skills, multitasking, Leading and chairing meetings, presentation skills, human and social skills, conceptual skills, and technical competence.

Leadership Skills

For managing directors, leadership skills can be identified as the ability to influence the behavior of employees to determine the direction that will help to achieve corporate goals (Cooke, 2012). Managing directors should have leadership skills that will help them to motivate the subordinates to work with zeal and enthusiasm. Furthermore, leadership skills would help to manage directors to divert the focus of their subordinates towards the accomplishment of the strategic goals set by the firm, thus improving the overall productivity of the employees through effective leadership. Leadership skills also help to identify the extent to which managing directors can guide the subordinates. Practical leadership skills will help a managing director to facilitate an environment of participation, which will motivate the employees to think about the objectives as well as the interest of the organization. Therefore, as a strategic leader, managing directors will be expected to encourage the subordinates and clients to utilize their full potential to enhance productivity.

Leading and Chairing Meetings

The skill of leading and chairing meetings of an organization is an essential ability for managing directors. The managing director should be able to describe the agenda of the meeting and encourage the participation of the members to yield positive results and outcomes. Additionally, a capable managing director should try to ensure that subordinates participate while maintaining the flow of the meeting.

Presentation Skills

Presentation skills are essential to ensure that the subordinates can understand the strategies and plans that the managing directors intend to implement. These plans and policies should be presented in a clear and inspiring way to the subordinates who are expected to implement the programs to help them effectively accomplish their duties and achieve the set objectives. The skill of presentation can facilitate successful information exchange through enhanced communication with the subordinates. On the other hand, if am managing director delivers a poor presentation, he may bore the staff to the extent that they lose concentration on what the managing director is communicating. As a result, confusion and misunderstandings may arise during the implementation phase of the strategies and plans.

Multitasking

A managing director should be able to perform multiple tasks at the same time efficiently. With the ability to prioritize, the manager should be able to prioritize tasks and allocate appropriate time for each job by their importance to maintain efficiency. In addition, the skill of multitasking could help to improve the productivity and efficiency of a managing director. Furthermore, the team should be made aware of the time allocated for each activity to ensure that issues of misunderstanding and confusion are avoided.

Conceptual Skills

Conceptual skills are essential in the analysis of the complexities that may occur in the organization. Decision-making skills are also a necessary aspect of conceptual skills as the managing director needs to develop strategic plans that will help smooth operations that will result in the accomplishment of corporate goals. Conceptual skills help the managing director to provide direction to the staff about the ways which the company goals can be achieved. Therefore, the managing director should be well versed in different concepts of his profession.

Technical Competence

Managing directors should be able to apply knowledge and techniques that will help them to provide a strategic direction to the workforce. This strategic direction will give an insight into how the workforce can implement different techniques in their work (Eisele et al., 2013). Technical competence will also help the managing directors to provide proper training and guidance to the subordinates as well as establish an environment that facilitates continuous learning in the company.

Human and Social Skills

Effective interpersonal skills are necessary for the managing director to collaborate with the other employees effectively. Alsop (2013) indicated that the manager should also be able to fully utilize the human resources that are available including the application of effective team-work and leadership skills that will help to create coordination among the workforce.

Skills Audit to Evaluate the Strategic Skills Needed to Meet Current and Future Leadership Requirements

As the managing director, I am expected to have adequate skills in regards to presentation, communication, problem-solving, and decision-making. In addition, feedback is also essential when conducting a skills audit. The skills audit is performed through SWOT analysis. This analysis will help me to identify the necessities that will help my future and current leadership.

Strengths

As a managing director at a consulting firm, it is clear that I have excellent motivational skills since it is essential for me to inspire and stimulate the subordinates to perform their duties effectively. Aside from motivation skills, I also have excellent problem-solving skills which are vital for completing tasks in the designated time. I also have excellent multitasking skills that help me to perform more than one task at the same time eff...