International Journal of Innovative Research and Development

Abstract

The primary objective that every organization seeks to achieve is profit maximization. But some organizations fail in this regard because of mismanagement or lack of specific skills required to cope with changes in their business environment. To avoid this, people who wish to be successful managers need to learn how to manage. A manager to be effective and efficient must have theoretical knowledge of management and the managerial skills which enable him/her to deal with internal and external challenges of the organization. The purpose of the present paper is to explore various managerial skills necessary for visualizing the significance of the organization at macro level taking into account its vision, mission, goals and objectives. This exploratory study would help managers to formulate appropriate strategies to minimize cost and maximize profit in the long run.

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