January 10, 2017
PILLARS OF BUSINESS
Business survives on many factors prevailing in the market. The demands of the market is what the business has to fulfill. In order to do that, it has to go through many ups and downs. Having a good knowledge about the market condition is obligatory. Knowing what the people want is what worries the CEO's. The trends in the markets petrify the investors. In order to get through all these ups and downs, there are 3 main pillars of business:
Working 'WITH' a leader is much more experiential than working 'UNDER' a boss. What is the difference between leader and a boss? Well, a boss makes slaves out of employees; and a leader makes a leader out of every employee. A leader gives employees the liberty to think. He/she invites ideas, gives advises, praises as well as reprimands. A good leader learns from the team mates more than what he/she teaches.
Someone once told, when a person gets strength and power, the mind stops working. True to an extent, the above sentence is somewhere related to EGO. It's natural. But what a leader realizes is that "WITH GREAT POWER COMES GREAT RESPONSIBILITIES - Uncle Ben, Spider-man". Utilizing the power properly is a leader's task. Being superior is totally different from being oppressive. Nobody likes oppressive people. But everyone respects superiors. People consider leaders as their mentors.
Government exams to corporate jobs, college entrances to school report cards, competition is everywhere. Everyone wants the best. Everyone has competitors. The only way to handle this competition is to have a political mind. Leaders think like a politician before they make decisions. They know the competitor's soft spot. That's where they strike.
Ever wondered why politicians give public speeches before the elections? Because it is the best way to influence people. A good communicator can manipulate people only by their words. All the business leaders use their persuasive skills to manipulate the party and win a deal. Good communication skills is what the interview panel looks for in a new recruit. No matter how many degrees one holds, he/she is nothing if he/she can't communicate properly. A leader induces an idea into people's minds by communicating with them.
People all around the world are so desperate to get an MBA degree. Why? What MBA gives you is a certificate, a memorandum of marks, a little dip into the industry secrets. But management is far more than an MBA degree. It comes with paying good attention to the people around you and understanding keenly how to tackle them. Corporate management is digging deep into the societal management. You have to keep your prospects as well as your employees happy, take care of the treasury, rise capitals, be ready for almost everything.
Why do employers award the employees with "Employee of the month" awards, extra perks, extra leaves? Because the employer wants its employees to stay within the company and avoid attrition. A boss only fires the employee when it is necessary, and not when it is his personal view. Employee is as important as a customer for a company. An employee is an asset for the company. The employees who are present since the establishment of the company are a blessing. Without such people, the company would never survive.
"Never leave the people (employees) who brought your company to what it is now"
One of the strongest foundations of a company is "finance". Finance is continuously required for the company to prosper. Or else it would stagnate or even shut down. The only secret to not getting out of money is "not being greedy personally". The big corporate giants use their profits not to holiday with their families but to invest in the future projects. A good training in raising 'Venture Capital' is also important. Be sensible in what you are investing in.
"The money made from business must be put again in business"
In a war, the thing that fears the commanders is the strategy of the enemy. But fearing is not the solution. They build a strategy to overcome the effects of the enemy's strategy. Corporate world is no different. Here we don't have enemies, we have competitors. As said above, having a political mind is the solution to this. Build strategies that are most practical in every manner. Be strategically well prepared for the next move. Having as big contact list as possible is important.
"Always be ready to fight the enemy's next move"
For the beginners, training is nothing but teaching how to work. Everybody is trained in the corporate sector. The duration of training varies from company to company.
Training the employees properly is a mandatory requisite. Just imagine if the workers on the assembly line of a car factory are not trained properly. How would it be? Loose nuts and bolts, imperfectly stitched upholstery, airbags not fitted in an order, risk to the safety to the customer. Deciding the way to train the employees is a piece of concern for the HRD department of the company. The way one is trained decides his/her performance. Make the employees aware of the challenges they will be facing in their career. Make them solve problems. Make them think. Make them come out with a unique solution. Train your employees to think out of the box.
"The way of training your employees decides the fate of your company"
Discipline is what the big winners state as their secret to success. Maintaining discipline in the office premises makes everyone feel concentrated. When we were in school, everyone would wear a uniform. Why? To not feel segregated. To maintain equality. As we grow up, discipline means far more than just school uniforms. It means respecting the colleagues, punctuality, tidiness, not arguing but discussing, disagreeing respectfully, applauding everyone's efforts, staying to your word and much more.