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PAE
1. Team building and team management delegation means striking a balance between
Achieving a business goal often begins with freedom and responsibility. Your employees
the ability to select and manage an efficient and teams should be given adequate freedom
team. Knowing how to choose the most to accomplish tasks, but also the responsibility
appropriate team, assign tasks and motivate and accountability of achieving desired results
your workers can result in your employees within deadlines.
performing at peak levels. The better you are
at team management and team building, the 4. Leadership
more able your team will be to perform as a This is a key skill of any astute business
harmonious unit and work unitedly towards a person. As your business grows, you will likely
common cause. need to hire people and be able to provide
them with a vision and mission as well as
2. Communication concrete goals to achieve. Leadership is
Both business owners and managers should often strategic in nature and requires you to
be able to effectively communicate with understand how to offer your employees and
employees, other managers, consumers teams an actionable plan and the motivation
and other individuals involved in day-to-day to complete it. In addition to business owners,
business operations. Effective communication leadership skills are also needed by those in
skills include both verbal and written and management positions to maintain effective
should allow you to clearly communicate day-to-day operations.
information in an easily understandable way.
5. Financial management
Examples of communication skills include Business owners and those in management
being able to: positions are often required to have financial
Effectively negotiate to mediate disputes management skills to effectively understand
and manage the company’s financial needs.
Compose clear and concise emails Financial management skills include the ability
to analyze the current market, understand
Confidently speak in both one-on-one investment benefits and risks, timely and
settings and large groups effectively budget and identify anything that
is negatively impacting the company’s bottom
Keep communication open between yourself
and employees line. In addition to business owners, positions
that may require financial management skills
Effectively relay the goals of a project and include business analysts, accountants and
the steps required to complete it bank employees.
3. Delegation 6. Project management
As a manager or business owner, you Projects in the workplace often have specific
should be able to effectively distribute work timelines, milestones, budgets and end goals.
to individuals and teams depending on their Project management skills enable you to
abilities and proven strengths. Effective effectively handle day-to-day efforts as well as
10 May 2022
