Top Management Attitudes


Whether employees behave ethically depends largely on the actions and attitudes of top management. For instance, if a code of ethics tells employees that bribing overseas clients is against company, but management looks  the other way when bribes are successful in winning large contracts, the code is likely to be taken seriously. Also, companies must not encourage unethical behavior by setting unrealistic goals that can be met only by cutting ethical corners, and they must not condone cheating to help the company.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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Facing up to Deficiencies


Many companies fail to objectively evaluate their products against competitive offerings in a rigorous manner. If they do go through some kind of an evaluation process, it is often superficial or biased, leading to a continuation of “business as usual” rather than dramatic cost or performance improvements. In some cases, management is not presented with the real facts because it is easier not to “rock the boat.” In other cases, management may see the facts but not accept or face them squarely, since it is not easy to admit that a product is no longer competitive. As a result, a surprising number of companies continue to try to get by with products that are not competitive and they fail to make the fundamental, essential changes in design or cost.

There are two important points that successful companies always follow. First, it is essential to ensure that products are designed for efficient manufacturing and assembly. Second, “me too” parity is never a solid basis for gaining or regaining position. Technical programs should always be designed to leapfrog the competition rather than play “catch up” against moving competitive targets.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

Good Management


Good planning and good management are probably the best protection against most of the other risks. Price fluctuations of any normal retail inventory may be upward or downward. Good management will keep itself informed of price trends. Study of population trends and business activity will warn merchants early if their location is losing its value. Good accounting records and study of operations against a budget will warn of any developing adverse trends.

 To handle the risks of dishonest employees, good management will provide devices such as internal security guards and signal systems for detecting pilferers. A reputation for prosecuting pilferers and training all employees to be alert to the problem will help to reduce pilferage. Tags in merchandise which act of alarms at the entrance unless removed by the sales person are now common. These methods are often expensive but necessary. Personnel policies will provide means of checking employees whose honesty is questioned. Inspection of employees of checkout time is being used by manufacturing firms, some airlines, and other type of firms. It is recommended for wholsalers and retailers when losses in this area are deemed a high risk. Fidelty bonds may be purchased to protect the firm from losses by dishonest employees.

 The risk of financial hardship can best be coped with by proper financial planning and financial management. This common risk has caused the downfall of many firms which otherwise had a most profitable future. Over and above good planning along the lines, watching the key financial ratios in the financial statements, the cash adequacy rule, and investment in receivables, and having a cash flow statement are devices to protect against this risk. Having a good performance record for honesty and fair dealing will help the business secure financial help when it is needed.

 My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight