I set up my own friendlies, as if I'm a bigger team then I will go on tour and try to build up my reputation, and if I'm a lower team then I will set up a pre-season cup and have larger teams participate to try and build some revenue.
My assistant takes the reserve team, and I usually pick my best Youth Coach to take control of my U18s. I watch all friendlies so that I can test people in new positions, and occasionally try new tactics. There are times when I will even go off and watch my U18s match, but not actually control them.
First-team and reserve contracts I handle, and my assistant manager sorts the youth contracts.
I also set up a decent scouting network, and usually pick one or two 'Head Scouts' from who I choose to go on worldwide tours. They are also used to scout possible future wonderkids, and follow them for three matches.