Personal Reflection Journal and ReportStudents will need to maintain a diary of reflections on your learning experiences during the semester. You will then be required to collate these reflections...

Running Head: CONTEMPORARY MANAGEMENT CAPABILITIES    1
CONTEMPORARY MANAGEMENT CAPABILITIES    10
CONTEMPORARY MANAGEMENT CAPABILITIES
NAME: _______________________
SUBJECT CODE: MGT802
Table of Contents
Introduction    3
Analysis    3
Theoretical Concepts    3
Managerial Skills and Capabilities    4
Key Challenges Faced by Contemporary Managers    5
How I would have addressed the Challenges    6
Empirically Supported Recommendations for the Board    7
Conclusion    8
References    9
Introduction
The subject chosen for this report is the contemporary management. As we have garnered an understanding of the subject matter in the last semester, this assignment will reflect my concept and learning. Contemporary means a relationship between the present time and the current techniques and other aspects of management. The current techniques are used by contemporary managers to take decisions, run the business, manage stakeholders and implement ideas, strategies in the organisation. Therefore, the manager must be familiar with the latest theory as the concept keeps upgrading while also acquiring updated knowledge of other managerial factors.
This enables the manager to administrate the workforce and available resources to the utmost efficiency and accomplish the organisational objectives. This report is being prepared to aim to explain the understanding based on my knowledge. The report will cultivate a vast range of skills, attitude, and capabilities necessary for a contemporary manager. The skills will also include both hard and soft skills. The content will involve a key issue in contemporary management.
It may include monitoring the personnel, projecting my leadership by ethical practices, managing diversity as well as introducing new technologies and methods in the business operations. The issue will be discussed and analysed by assuming my role as the manager. My knowledge and managerial skill will reflect depending on my action to resolve the issue. This will reflect on my capabilities and knowledge. Afterward, some implications will be made regarding the subject matter, which will reflect my capabilities for my future career.
Analysis
Theoretical Concepts
There are multiple theories and approaches regarding contemporary management. The theories form the framework, based on which contemporary business management functions. One of the theories suggests that there is no specific set of skills or behaviours that can be necessary to make decisions and run an organisation efficiently (Malik, 2015). Rather the manager must be capable of monitoring the present situation inside and outside of the business and take actions depending on that. The motivational theory concludes that motivating employees as well as other organisational factors is important. This allows managers to locate the factors that are lacking in measures or means. The theoretical concept in general states that there are indeed some skills, and rules to manage personnel as well as an organisation.
The contemporary manager is expected to be aware of the organisation’s goal and take any measure in terms of decision-making and implementation to accomplish it. This also means that the manager must have up-to-date knowledge so that they can motivate their employees and increase their proficiency overall. The manager’s views and actions related to the organisation are addressed in this theory (Gunasekaran, Subramanian & Rahman, 2017). The approaches involve system, quantitative and contingency approaches. The systemic approach refers to the condition where the managers emphasise different factors, both external and internal, and the interrelationship between them to take actions in favour of profitability. The quantitative approach means that a manager takes quantifiable data like statistics, annual reports into account and uses quantitative methods and models of information along with computer simulators to produce final decisions.
Meanwhile, the contingency approach allows the manager to concentrate on the present context over anything else. Based on the context, the manager can analyse it and provide an interpretation that would be helpful to form a series of possible solutions as well (Schermerhorn Jr et al., 2019) According to this approach, a manager cannot act and decide effectively, if they stick to a specific managerial style, as it is not a long-term solution. In long-term measures, the rigidity of style is not appreciated, as it does not update with the newest information and technologies. While other approaches have proved to be beneficial in prior time, in the current period, this approach is more valid as it takes both issue and style into account and makes sure to interact both. This is helpful especially while managing a wide taskforce. Since, contemporary managers are also responsible for cultivating the job market, hunting for new talents, interviewing and finally recruiting them, their approach must be suitable for each context to perform the task effectively (Nudurupati, Tebboune & Hardman, 2016).
Managerial Skills and Capabilities
Since the manager is the one every employee goes to, to report and resolve issues, the manager must acquire important skills. There are some major skills that a manager is expected to have that are – conceptual, technical and interpersonal skills. Conceptual skills allow them to use their knowledge to think and come up with new ideas. It also involves the manager to monitor, analyse a situation to locate the problem and solve it (Kasemsap, 2017). Technical skills focus on the manager’s capability to consider the newest methods to implement in business operations and effectively reach the goals. Interpersonal skills mean communication and human/social skills. The manager is required to interact with employees and other personnel daily and build work relationships. This enables them to connect with the employees to motivate them, enhance their work performance and utilise the available human resources to full potential (Rauschmayer, Bauler & Schapke, 2015).
Human skills are the most convenient when the managers take responsibility to interview candidates and recognise their skills. Besides, workplace interactions help them to understand the needs of employees and which skills they require to improve their performance. They set up training for employees based on their needs as well as take care of their satisfaction. The managers have to go through training sessions and experience themselves to build work relationships. It also allows them to recognise proficient employees and to reward them for boosting their morale. Acquiring interpersonal skills is the most important as it not only helps the managers but the organisation as well (Morozov & Timinsky, 2016). Managers go through the workforce to form teams suitable for projects and departments. It also gives them a competitive edge to employee motivation, satisfaction, and retention. Employee satisfaction directly influences customer satisfaction.
Besides, the managers are required to act as leaders and lead by example by practicing ethics. This enables them to manage the staff to behave the same and thus, attain a successful diverse workforce. Hard skills refer to the specific capabilities, which are required by the job and based on facts. It reflects one’s expertise to fulfil the job requirements. Examples involve technical and conceptual knowledge, planning, delegating, decision-making and implementing (Ferlie & Ongaro, 2015). Soft skills are those, which cannot be measured or judged on quality and it is also subjective. Such skills are about behaviour, which may not be required by job description, but it enhances one’s efficiency. Examples include several behaviours and attitudes like leadership, and interpersonal abilities such as...