Why business stagnates? (Article 2)
Having said that the owners need to stay away from micro management & segregate between the Urgent & the Important, we need to look at some other traits that can put brakes on the growth of an organization
Penny wise, Pound foolish : The owner wants to grow fast, as he can see the business opportunities all around. But he is not willing to go that extra mile in investing for the future. For example, one needs to have systems in place for everything, whether it’s sales & marketing, production planning, quality systems, R&D or engineering. Many of the organizations that are aspiring to grow fast, overlook the fact that they need to change gears. If you continue to do the same things you did so far, you will continue to get the result that you got so far ! To give you an analogy, a grocery shop keeper can grow up to a point. But when he/she wants to set up a shopping mall, the dynamics of the business change completely. You can’t run the show in the way you were running your shop !
Respect the people : Remember, it is the ‘People’ who build your organization. Better the people, better the results ! Simple.
But then there are several issues. I recently attended a program organized by a HR consulting firm. It talked about personality assessment of leaders. It’s a wonderful technique. But here I go beyond leaders. Each of us has a personality & if the organization knows it fully, one can work wonders.
Many a times, companies just don’t know enough about their people, more so in MSME sector. Thus, they miss out on the main aspect of their growth! It’s not the machinery, robots, computers or software’s that bring you growth. It’s PEOPLE, who take you there. Every organization is known essentially by their people. Why would otherwise a net savvy bank like ICICI Bank advertise heavily on their people connect? Why you & me get annoyed with typical boring, repetitive, unfriendly, nonconstructive call center replies of big corporations – Just because they miss the required people connect. Your salespeople, production people, Accounts department…all are interacting with your stake holders & creating your company’s image. Now, if these people are not well trained, bad at communication, give wrong commitments, give wrong technical replies… who is suffering? If these people are not happy, not looking at long term association with your company for their career growth, working under stress, don’t have trust in the management…who is suffering? If we treat our employees well, they will treat our customers well!
I’m surprised to see many MSME’s not having HR department or even a single HR person! One needs to understand that having right people with right mindset & right attitude is the most important aspect of taking your organization to the next level. It brings profits!
© Nitin Kirloskar
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