The Difference Between Micro And Macro Management

Are you a busy body or a sit back and think type of person? Both of these personality traits are needed in the world of business. Often times you can’t be both or at least, you don’t know how to be both at the same time. This is an issue that business leaders regularly have to wrestle with. Why do you think they have so many different advisors around them at any one time? They know what they want, but advisors that are experts in both small and large management, can give the leader options of when to go ahead with a decision and how. This kind of advice is incredibly valuable because essentially, you have opposite ways of approaching a challenge. Micro and macro management is simply, the yin and yang of of execution. Some value short term decisions more, others value long term decisions more. The battle in your mind is, how do you know which is more relevant for your business problems?

The long term game

Businesses pay long term advisors a pretty penny for their planning and analysis. They will often make sure that they have a long term plan so that goals can be set far into the future which will prolong the existence of the business itself. Some of the giants in industries have long term game plans that go on 5, 10 and sometimes even 20 years ahead. For this however, they need individuals with expert business analytical skills. An employee or business leader some kind of qualification in this such as an accredited online mba program will be able to track finances and project profits as well as revenues far into the future. Studying the data and consumer trends, such professionals can see whether a certain type of product or service will still be around in a decade or so. Newer technologies that are available will also be factored into the longevity of the business in it’s current form. Macro management takes a lot of logical and analytical thinking skills but is simply immeasurable in terms of useful foresight.

 

Short and sharp

In the heat of the moment, when the chips are down you need to have a micro management mind. For example, when a marketing campaign is not going the way you wanted, is it better to see it through to the end or should you stop it immediately and regroup? Micro management takes into account the risks and rewards in the short term of any decisions you make in business. Maybe the initial consumer reaction is not true to the overall reaction you might get from the wider public. Another example is when a product is selling a lot more than anticipated, do you ramp up production and potentially risk losing money when or if the slowdown begins or continue the same numbers as your forecasts suggest? This is the unique challenge brilliant micro management can deal with.

Business leaders need to possess both micro and macro management skills to be at the top of their game. You can hire advisors to help you with this challenge but you can also earn degrees that give you these skills so you can better understand how to tackle short term and long term issues.

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