Mays Business School has identified 7 core competencies that are required to be successful in business and in life. Though there are other important characteristics, these seem to be the most pertinent. Below you can find a brief description of each of the core competencies based on my interpretation.
Communicating
Having effective and fine-tuned communication skills, alone, can get you far in life, but they can get you even farther in the business world. Being able to convey your thoughts verbally, in writing, and through actions makes you extremely marketable and an asset to the team you are working with.
In a business setting, it is important that you say what you mean and mean what you say. A small miscommunication could make a business deal go askew, destroy an alliance, or have serious economic implications.
In this day and age, a great deal of communication takes place through the internet as a result of modern technology. Speaking eloquently and delivering your message in a clear, concise manner is imperative, as the recipient cannot judge your mannerisms, tone of voice, or facial expression. Regardless of the means through which you are communicating, it is important to consider "the other side of the table" and how your message will be interpreted,or misinterpreted as the case may be. Being proactive and considering where things could potentially go wrong will make your presentation better and your lines of communication stronger.
Problem Solving
Though we, as humans, typically dislike ambiguity, it is common in the business world. It is an expectation that we have developed our problem solving skills and the ability to complete a project without receiving step by step directions that teach us how. Though the task at hand may seem daunting at first, more often than not, common sense and googlewill be enough to complete it successfully.
An important aspect of effective problem solving is taking advantage of available resources, including people, places, and technology, just to name a few. Exercising one's creative juices and thinking outside of the box will lead to individualization and, ultimately, success in the work place.
Many people in this day and age struggle when it comes to problem solving. This unfortunate reality can be an advantage for those seeking to move up the food chain, so to speak, because this characteristic enhances value and uniqueness.
Speaking from experience, working with an individual that exhibits well developedproblem solvingskills and shows initiative is underrated. Possessing these skills will make you someone that others want to work with, which is an extremely profound compliment.
Finding and Creating New Opportunities
Though sometimes opportunities fall into our laps, we can't live life expecting everything to come to us- sometimes we have to meet our opportunities half way. It isn't uncommon to be in a stagnant place. I have experienced this first hand, and it can be rather discouraging. However, this is no excuse to stop growing, learning, and exploring because adventures and opportunities are out there. We just have to create them.
More often than not, the first step towards finding or creating opportunity is simply exploring your options. Consider what you are looking for in an experience, in what ways you need to grow, and how you wish to bridge that gap. Thinking about the skills you currently possess, resources you have access to, people you know, etc. is a great place to start. Use your connections and networking abilities to your advantage. Once you have an idea of what you are looking for in a new opportunity, communicating your interest to the right person is often half the battle. Pleading your case and selling yourself provides you with invaluable experience and serves as a unique time for growth, regardless of the outcome of the encounter.
Often times, I find myself using the lack of opportunities around me as an excuse. However, I am working towards overcoming this barrier and making it a habit to make something out of nothing.
In the business world, finding new opportunities can look like many different things, ranging from a promotion, to new marketing, to an updated product that provides a larger profit margin. Regardless, the ability to capitalize on each and every opportunity placed in front of you or your business is beyond valuable. The more prone your business is to finding and creating new avenues for growth, the more likely you are to experience economic and social benefits. Leading the industry is almost always better than following others in the industry. Don't wait for someone else to make the discovery that your team could have made ages ago.
Leading
Leading others with grace and poise is much easier said than done. It takes skill, practice, and guidance to become a successful leader in life and in business.
Through my experience as a dancer and member of my high school's drill team, I learned that, sometimes, the best way to learn how to become a leader is to be led by a follower. The lack of understanding and organization formed a barrier and stunted our team's development. Being stuck in this dilemma was stressful and mentally deteriorating, but I learned how to respond to my peers, adapt to my surroundings, and prohibit my situation from defining me.
In retrospect, I realize that the lessons I learned in the midst of that hardship resulted in the most personal development. I now possess the ability to spot well developedleadership skills, take direction from both qualified and unqualified individuals, and relate to others in similar situations.
The business world is full of leaders. Some simply have titleon their business card, while others have priceless experiences and years of guidance under their belt. Regardless, these individuals have a sense of authority and must be respected. With that being said, the degree to which they are respected is often a direct correlation totheir ability to lead those around them effectively. The best leaders that I have encountered emphasize the importance of self development, reflection, and stepping outside of one's comfort zone.
Those who find themselves in a leadership position have a unique opportunity to unite those they are working with. The purpose of a leader is to promote camaraderie and set the team's eyes on a common goal. It is always important to remember your purpose and motivation when leading others, as they will follow the example you set.
Managing
Being proficient in the management competency deals profusely with multitasking. Most individuals can handle managing either people, initiatives, or resources, among others, but few can handle more than one simultaneously. Managing deals with monitoring all of the components of a business and ensuring that they are where they need to be and accomplishing the goal they were designed to reach.
Managing applies to each aspect of an enterprise and in numerous ways. Each department has areas that need to be maintained and, occasionally, updated. Even the minor details and changes can have major implications. Considering these implications before they come to fruition takes skill and is a valuable ability to have in the work place.
Another aspect of management deals with proactive and reactive techniques. Being proactive in maintenance, training, and things of the sort saves your business from being unprepared. Making changes before they are necessary often costs a little extra money up front, but will result in tremendous savings in the long run. On the other hand, the reactive method deals will waitinguntil something goes wrong to make a change. Though sometimes this is the best option, it often results in more serious damages and a longer recovery time. An individual with well developed managing skills would be able to effectively weigh prosand cons of these techniques and select the one that would benefit the company most. Though from a distance this can appear to be an easy solution, there are many factors to consider, numbers to crunch, and individuals to inform when it comes to involving an entire business.
Working With Others
As children, we are taught to share and work with others, and all throughout school, we are assigned to project groups, work teams, etc. Though the goal or purpose of the group might change, these teams still exist in the work place. The ability to work with others in a one-on-one, small group, and large group setting is highly marketable and difficult to come by in this day and age. Often times, we don't have a choice when it comes to who we have to work with so being flexible and accommodating is very important. It is necessary to put your differences, disagreements, and personal agendas aside for the betterment of the group, project, and business as a whole. Though this can be challenging, the ability to separate personal issues from work relatedtasks is what makes a good businessperson into a great team player.
An important piece of the puzzle when it comes to working with others is establishing roles. Sometimes, our project groups lack a chain of command, so it is necessary to determine group member roles and expectations. In addition, considering Myers-Briggs type indicators is often beneficial and way to get to know those you are working with. Being aware of their natural tendencies can head off a great deal of the complications that you are sure to face as a team. Similarly, searching for and considering a variety of persepectiveswill result in a well-rounded, fully developed team.
Reviewing Tuckman's Stages of Group Development and how those stages look for your team can be both helpful and eye opening. Recognizing that the challenges you and your peers are facing isnormal can ease the frustration and get you out of the storming face quicker.
Working with others will always be a part of life. Though it isn't always ideal and more often than not we are forced to work with people we dislike, this opportunity is a chance to grow and develop. There is always something to gain from meeting new people and hearing different perspectives. And as with everything, the more involved you are, the more you will ultimately benefit.
Acting Ethically
Each and every individual has his or her own set of morals. Our experiences, beliefs, and personal influences dictate what we believe to be right and wrong. Similarly, most businesses have a contract that covers what they believe to be morally correct and as an employee, you are expected to abide by their rules and follow their guidelines. There are times when their beliefs and your beliefs may not line up ideally, so communicating your concerns with those in change and acting ethically based on your standards, as well as theirs, is important.
Showing integrity and doing the right thing, regardless of the consequences or implications that may follow, is imperative as a businessperson. Ethical issues will stick with you for you the duration of your business career, something that isn't worth jeopardizing, say, for the sake of a little money or colleague.
It is important to realize that you are always representing your business and, likewise, your business is always representing you. For this reason, neither of you should act unethically, as it would be a poor reflection on the opposite party. Holding yourself to a high standard is sure to be rewarding, and should be an expectation for everyone, not just those that invest their time in the business world. Unlike other aspects of the professional realm that require extensive training and education, acting ethically is something simple and a talent we were born with. Unfortunately, though, it is still a characteristic that can distinguish you from your peers, as not everyone takes acting ethically seriously.
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