Management Verdict for Small Scale Entrepreneurs
Shifting from jobs for their own business start-ups has a large trend seeing in the last decade. Diverse business practices with tremendous business skills making the market competitive and changing the meanings of many business terms. As a Chartered Accountant, I have seen many professional candidates having different business ideas that they have implemented and choosing routes for doing business that are very different from the traditional Course Practices. New emerging skills in the youth are changing the future vision of business policies. Changes in terms of transparency, ‘Er-Ee’ relationship, Income Distribution and most importantly Working Structures are making new benchmarks for the markets. Now it is a challenge for new and youth entrepreneurs on how to learn these changes without affecting the operational activities.
Previously the citrus fruits (Top Executive) rarely shared their knowledge with its people. However, what today’s management verdict says – “Make all your team like you” as no group can be successful until they cut vacuum to share their experience and knowledge. Keeping all teammates updated with latest trends not only increases the effectiveness of their activities but also enhance the communication flow to the next level. Some days ago, one of my client, was just discussing some of his business vision. He mentioned me many points on how their group is growing. They just put some pauses on their long vision and on long term plans to make clear and purpose vision. He mentioned fear not to experiment is just paralyzing the future success. Experimenting is just like an innovation. Every group needs to understand the next management verdict that failure on experiments is taking them a step close to their success.
Many recent studies also reviewed a tremendous change in work attitudes with the change or shifting of generation. Studies revealed many facts that this generation (NewGen) want to participate in corporate discussions with their senior executives, want equal status in the work. Our work predecessors worked to live while NewGen works to experiment. And for this my mantra is “work with change” as the future is NewGen and will take more than 75% of leader positions in next 10 years.
Many other Management verdicts are also need to learn to survive and to take your stand in this era. I always believe to set high benchmarks for your market players, your group need to work on excellence that only comes from the VIP MADE things.
- V – purpose Vision
- I - the spider Interaction (Two Way Communication)
- P – Passion
- M - leverage Marketing tactics
- A – cut the self-limit attitude
- D – Dream
- E - Enthusiasm