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Question: Identify three areas where you need to Develop your skills for future Management and Leadership. Answer: Managers and the aspiring managers have to develop their future management and leadership skills to be able to lead their departments and carry on their managerial responsibilities efficiently. An efficient manager is required to have several attributes like efficiency, time management capabilities and team leadership competencies. These skills are dynamic and the managers keep on developing them with time. Since the managers take the major organisational decisions, their efficiency and capabilities are important for the organisations to achieve business excellence. Development and enhancement of managerial skills are continuous processes and managers keep on enhancing them while carrying out their managerial responsibilities. They can enhance their skills by getting mentored by the senior managers on continuous basis. The aspiring managers can also take initiatives like attending seminars and attending training sessions to develop managerial skills in them which they can enhance aft er joining organisations. Skills of the effective managers are considered one of the most important assets of the present and future organisations. There are several areas of business like finance, marketing and human resource management. These areas are crucial for smooth business operations and require specific skills and competencies from the managers. The skills are important to the business organisations and their managers because they help the managers to achieve high degrees of performances which ultimately contribute to business excellence(Goetsch and Davis 2014). Excellent communication skills, capability to understand the market trends, focus on improvement of the employee productivity and the power to lead the organisational changes when required are some of the skills of effective and efficient managers. The managers can develop their skills which contribute towards their high managerial capabilities and competencies in a variety of mentoring and training methods. The first step towards development of effective managerial skills in the management courses which instil the basic competencies of managers like communication skills. The companies provide training to the junior managers to develop managerial qualities like leadership among them. The senior managers mentor the junior managers to enhance their managerial skills and competencies(DuBrin 2015). The people who aim to become professional managers can attend conferences and seminars on management to enhance the managerial lessons they learnt during pursuing management degree courses. The dynamic changes in the global corporate scenario requires the managers to develop the basic managerial skills like analysing problems, decision making and communication skills during the management degree courses. The management students can participate in the conferences and seminars to learn about the new trends in the corporate sector. They can also visit management firms and talk to professional managers as a part of their curriculum to develop management skills(Johnston and Marshall 2016). These initiatives would help to develop managerial and leadership skills which would make them competent entry level managers. Time management profile refers to the efficiencies of the managers to manage and execute multiple tasks accurately and efficiently. The managers are required to have the capabilities to manage time and distribute it among various duties and ensure execution of all the duties effectively. The managers can manage their time and organise it among the several responsibilities and priorities like attending meetings with senior managers and mentoring the team members(Hackman and Johnson 2013). Time management is not only an important managerial competency but also an important quality of leader. Efficient time management necessitates the managers to plan their actions and communicate the plans to the people concerned like team members to ensure successful execution of their plans within time. Time management is an important managerial and leadership quality and require mentoring. It is a skill which managers develop while carrying out their professional responsibilities like execution of business plans set by the senior managers and the management. The managers receive training and induction from the human resource after they join organisations. These training sessions educate the managers about their job responsibilities, how to achieve the target performances and time management. It can be pointed that managers develop the skill of time management skills to a greater extent while carrying out their professional responsibilities. The senior managers mentor the junior managers to manage time, set priorities, deal with situations when the available time is very less and so on. It must be pointed out that time management is a managerial skill which requires a lot of mentoring from senior managers(Paustian-Underdahl, Walker and Woehr 2014). Time management is a managerial and leadership skill and the management degree courses contribute greatly towards development of this skill. Managers as leaders of various organisational departments and required to lead their subordinates towards attainment of business targets assigned to them by senior managers. This requires them to master the skill dividing the total targets into components which have to be accomplished with specific time frame. The management schools educate the managers on the various ways of time management like executing the multiple job responsibilities on the basis of priorities. This time management education developed by future managers during their management courses help them becoming multitasking and efficient managers in the future(Charlier et al.2016). Team leaders in organisations like managers lead employees towards achievement of business targets which makes their skills important for high organisational performances. The managers need to have multiple team leader skills like strong communicational capabilities, planning, strategy making, motivating and conflict management. These skills are important because they enable managers to lead their team towards achieving of business targets within the specified limit of time. They allocate the job responsibilities among the team members based on the skills, qualifications and eligibilities of the individual team members. They are required to coordinate between their team members and handle conflicts among them to ensure continued productivity. Thus the skills of the managers to lead groups of subordinates towards achievement of business targets contribute towards achievement of overall business targets of the organisations. Thus, the high level of competencies and skills of the manage rs ensure achievement of organisational business targets(Griffin 2013). The team leadership skills of managers play a very role in achievement of the organisational business targets and require a lot of mentoring of senior managers. The senior managers guide and train the junior managers about leading subordinates and dealing with conflicts. This mentoring is a continuous process and encourages leadership qualities among the managers. They help them to improve their efficiency standards like take more accurate business decisions, allocate the assigned target among the team members better and achieve more targets within specified time limits(Rosemann and vom Brocke 2015). The business management candidates who aspire to be managers can do a lot of things to develop their team leadership skills. They can read articles and watch videos based on corporate leaders like CEOs of multinational companies to develop their leadership skills. They can read books and attend seminars on leadership which would encourage leadership qualities in them. They can also work on their communication skills, analytical skills and decision making capabilities during their management courses to enhance their managerial leadership qualities(Burden et al. 2014). The managers play very important roles in operations of the organisations and leading them towards achievement of business goals. This requires the managers and the aspiring managers to develop and enhance their managerial qualities. The senior managers and the human resource departments in the organisations play very significant roles in mentoring and training the managers to develop their managerial skills. 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Johnston, M.W. and Marshall, G.W., 2016.Sales force management: Leadership, innovation, technology. Routledge. Paustian-Underdahl, S.C., Walker, L.S. and Woehr, D.J., 2014. Gender and perceptions of leadership effectiveness: A meta-analysis of contextual moderators.Journal of applied psychology,99(6), p.1129. Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. InHandbook on business process management 1(pp. 105-122). Springer Berlin Heidelberg.