Pareto Global Associates Reveal Entrepreneurs Need to Upskill To Guarantee Economic Growth

Pareto Global Associates insist that self-development and leadership will lead to economic growth in the long-run. A recent study however reveals significant skills gaps of managers.

According to research undertaken by the Chartered Management Institute, priorities identified by managers include building partnerships and networking (78%), creating agile teams and tackling under-performance (77%), using social media (79%) and managing complexity (76%). The study however reveals that there is currently a significant skills gap between managers’ aspirations and reality. Cyril Williams, Managing Director of Pareto Global Associates, explains: “In order to guarantee long-term growth for businesses, it is important to tackle the current skills gap.” Cyril Williams insists that self-development and guidance by experienced business owners are the first steps to a promising future leading to a strong British economy.

No business can afford to neglect their managers’ skill set. Cyril Williams of Pareto Global Associates says: “Companies that are serious about success tackle the current situation by creating personal development plans together with their managers and get them ready to lead us into a stronger economic era. CMI Chief Executive, Ann Francke, confirms: “Management shortcomings are already part of the reason why the UK lags behind competitors like the US and Germany, and we could fall further if we don’t prepare now for the future.”

For the survey, 20 activities were accessed. Respondents admit that the most common area of weakness is their technical skills. In fact, 68% do not feel confident using social media effectively and 57% are unable to make use of big data. “By not being able to utilise such information, businesses are blocking their way to achieve success as they fail to identify what the business needs and who to target in order to encourage growth in the long-run”, insists Cyril Williams. Furthermore, the survey reveals that networking is the third-lowest rated skill with 40% of managers feeling they are ineffective, followed by team management skills with 34%, creating agile teams with 27% and tackling underperformance with 24%.

Ann Francke says: Tomorrow’s top managers will be those who get networked, who lead with integrity and who create agile, high-performing teams.” Therefore, Cyril Williams of Pareto Global Associates would like to see businesses step up and support their managers to gain the relevant skills and hence increase revenue. Nevertheless, Cyril Williams insists: “Managers must step up and fill the gaps. Today’s leaders determine tomorrow’s success. It is crucial to develop a solid foundation and be keen to learn continuously in order to keep up with competitors.”

Pareto Global Associates are an outsourced event marketing firm. The company raises brand awareness and promotes and sells products and services on their clients’ behalf. Entrepreneur and managing director Cyril Williams continuously reads books, arranges courses and goes to networking events in order to encourage his own development. “Only if I develop, I can assist and provide guidance for other entrepreneurs”, says Cyril Williams who has created an outstanding outlook for Pareto Global Associates so far. The firm is planning to expand into further three markets by Q3 2014.