Managers are technically competent, but have little experience running businesses.

Challenge

The next tier of managers in your organization may not be prepared to be the next generation of leaders.

They may be technically competent, good at supervising others, hard working, and loyal. But they may have little experience running businesses.

Therefore, they may not be equipped to fulfill leadership requirements such as business planning, budgeting, managing internal investments, and setting rates.

Solution

Every group within an organization should be run as a business within a business, and every manager should be empowered to run that business and be accountable for its results.

Managers can be given an opportunity to learn business leadership skills through a process where they individually develop their product/service catalogs, their sales forecasts, their business plans, their budgets, and their rates.

By participating in planning process that have to occur in any case, managers learn essential skills while contributing their in-depth knowledge of their portions of the business and making commitments that become the basis of measurable accountabilities.

Comprehensive solution....

Other Resources

Case Study: Developing Leaders' Business Acumen
how a new budget process turned into Entrepreneurship 101 at the University of Maine

Chapter: Transformational Impacts