Indian methods of managing business!
Being management graduate, I was always familiar with the theories of various aspects of management, but always wondered if they are actually making sense in our professional life or it is just one of the theories & curriculum developed by so-called management gurus to impart knowledge to the world and make money out of it.
Trust me; ever since I have started my business again, I realized that for being a successful entrepreneur our own traditional methods have a lot to teach. We don’t need to go to any management school to learn the basic principle of establishing any business, serving clients, creating wealth, developing goodwill and enjoying long-term fruits of business.
I have observed that the new management mantra for the control of the company is management team centric and we looked down upon family controlled businesses. It is perceived as if the family owned companies wouldn’t take care of the interest of the people. But in real world, most of the successful companies have been started and run by family lineage and managed also very well.
I just thought to pen down the differences between a hired CEO and the owner of the company.
- He will always have pressure to make the company profitable, many times at the cost of people’s interest and at times company’s long term interest to prove his caliber
- He will be more interested in fulfilling short-term goals compare to long-term interest of the company as this will prove his success but not necessarily company’s success
- He lacks the long-term vision of the company and hence it is likely that he overlooks many points
- He enjoys all the respects and positions of the owner of the company but still may lack the commitments and attachment to make the company successful at the cost of his life
- He knows that even the company is not going through a good patch, he will get paid for that time hence the sense of responsibility towards the funds of money is less
- He will not be reluctant in spend the funds of the money and will not control cost
- He has the same amount of pressure to make company profitable like CEO but he will take an extra mile to make it happen as it is going to be his success fully
- He has a long-term and a complete vision of the company hence he knows ways to take it forward
- He fulfills short-term as well as long-term goals of the company without compromising with the quality and returns
- His commitments and attachment towards company is much stronger than the CEO
- He would forget his own share of the company if there is any problems with the company
- The cost of the company will always be controlled by the owner
These are the basic things I have observed and I will continue writing more about what I find good in both the ways of managing business.