Entrepreneur


Most businesses start as a dream in somebody’s mind. An entrepreneur is a person with an idea. He or she also is someone with the energy and drive to turn that idea into a business. An entrepreneur needs these characteristics because in a young firm he or she must often do everything at once—manufacture the product, sell it, find enough money to keep going, and manage few employees.

The entrepreneur must be willing to take great risks, too, for most new businesses fail within a year. The odds against success are stiff, partly because many business ideas simply are not very good. After all, whoever wanted to buy paper dresses or quadraphonic sound. Factors that create special risks for new businesses are those over which entrepreneurs have little control. Also, technology has become highly complex and many new products—a filter to remove the salt from sea water, for example, require many years and teams of scientists and engineers to develop. Then, too, a vast array of government regulations creates additional burdens of time, energy, and expenses for owners of new businesses.

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.

Judges as Social Engineers


Our courts still follow the idea of stare decisis. This adherence to precedent furnishes a system whereby a businessman or businesswoman may act in a certain way, confident that this action will have a known legal effect. At times, however, some modern judges feel that it is their duty to engage in the practice that lawyers term social engineering—shaping the law to the judge’s own individual social and economic beliefs.

When a judge tailors a decision to personal ideas about how society should operate, the holding of the court may be directly opposite to what the legislature intended by the passage of the law. Many legal observers feel that this social engineering by judges is an outright usurpation of the privileges and responsibilities of the legislature. Many critics feel that the laws should be made by the legislative branch of government, not by the holding of a court. Business and trade interests usually favor the idea of permitting the legislature to enact the laws.

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.

Cost Drivers


Cost Drivers

The concept of cost drivers can be defined in the consumption or expenditure of recourse or the limitations incurred on revenues. They include:

i.            Price

  • Amount actually paid
  • Price protection

ii.            System & Processes:

  • Time
  • Overhead

iii.            Inventory

  • Carrying costs
  • Overstock & dead stock
  • Handling costs

iv.            Requirements

  • Over-engineered
  • Under-engineered

       v.            Operations

  • Maintenance costs
  • Operating efficiency

     vi.            Revenues

  • Downtime
  • Improved output

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.

Fit for Purpose


In the context of organizations, being good or moral is not always the most profitable way forward. Organizations can succeed by short-circuiting the road to morally attuned relationship effectiveness.

People may never get a second chance to make a first impression, but this is not the case for organizations. Organizations can reinvent themselves repeatedly in a way that people can’t legally get away with.

People are for life, organizations are for as long as need be. Organizations that over-engineer their working culture fail just as fast and just as surely as those that cut too many corners. Organizations can only afford to be fit for the purpose they are designed for—no better no worse. Choosing the right working culture is therefore the big issue for organizations.

But when it comes to being focused, the picture is slightly different. While there isn’t an automatic choice in terms of working culture, there is a natural choice when it comes to focus – being more focused reduces waste and increases profit.

If developing the right working culture is the big issue for organizations, being tightly focused is the big task.

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.

 

Fit for Purpose


In the context of organizations, being good or moral is not always the most profitable way forward. Organizations can succeed by short-circuiting the road to morally attuned relationship effectiveness.

People may never get a second chance to make a first impression, but this is not the case for organizations. Organizations can reinvent themselves repeatedly in a way that people can’t legally get away with.

People are for life, organizations are for as long as need be. Organizations that over-engineer their working culture fail just as fast and just as surely as those that cut too many corners. Organizations can only afford to be fit for the purpose they are designed for—no better no worse. Choosing the right working culture is therefore the big issue for organizations.

But when it comes to being focused, the picture is slightly different. While there isn’t an automatic choice in terms of working culture, there is a natural choice when it comes to focus – being more focused reduces waste and increases profit.

If developing the right working culture is the big issue for organizations, being tightly focused is the big task.

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.

 

Incentives for Professional Employees


Professional employees are those whose work involves the application of learned knowledge to the solution of the employer’s problems. They include lawyers, doctors, economists, and engineers. Professionals reach their positions through prolonged periods of formal study.

Making incentive pay decisions for professional employees can be challenging. For one thing, firms usually pay professionals well anyway; for another, they’re already driven—by the desire to produce high-caliber work and receive recognition from colleagues. In some cases, offering financial rewards to people like these may actually diminish their intrinsic motivation—not add to it.

However, that’s certainly not to say that professionals don’t want financial incentives, particularly those in high demand jobs like software and systems developers for information technology firms. Many are offering benefits that are highly attractive to professionals, including better vacations, more flexible work hours, equipment for home offices, and improved pension plans.

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.

Primitive Organizations


Primitive organizations exhibit all the classic features of any start-up. Energy and anticipation are usually high and the right startup can almost run on pure adrenalin.

Primitive organizations naturally perform the things that other types of organizations have to work hard to achieve. Formal structure and communication is not yet necessary, as enthusiasm and team spirit can carry the organization along.

In the early stages most primitive organizations manage to operate under one working culture and build effective internal and external relationships. This state of affairs can’t last, however, as primitive organizations are naturally transient. When the initial honeymoon period passes, the culture of the organization will change of its own accord.

All that is up for debate is how much it will change, how fast it will change and whether that change will be managed or if nature will be allowed to take its own course.

As is the case with all organizations, primitive organizations face the choice of managing their culture from the word go, or leaving it to chance. Unfortunately too many organizations rely on the natural spirit associated with being a primitive startup and de-prioritize cultural investment, choosing to concentrate on what they see as operational necessities.

To a point this is understandable, but this attitude reflects some common misconceptions.

  • An organization’s honeymoon period or primitive stage can be incredibly short, which catches a lot of organizations out – and once the damage is done, it’s done. Remedial work is always harder and significantly more draining and time-consuming than positive effort.
  • Proactive cultural and relationship management right from the start can be achieved at minimal cost in terms of time and money, and will deliver benefit for years to come. It is worth remembering that managing a working culture does not mean over-engineering it: in fact, it should mean quite the opposite. Good practice from day one is what creates long-term amazing relationships and long-term success.

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.

Causes of New Product Failure


Many new products with satisfactory potential have failed to make the grade. Many of the reasons for new product failure relate to execution and control problems. The following is a brief list of some important causes of new product failures after they have been carefully screened, developed and marketed.

  1. No competitive point of differene, unexpected reactions from competitors, or both.
  2. Poor positioning.
  3. Poor quality of product.
  4. Nondelivery of promised benefits of product.
  5. Too little marketing support.
  6. Poor perceived prices/quality (value) relationship.
  7. Faulty estimates of market potential and other marketing research mistakes.
  8. Faulty estimates of production and marketing costs.
  9. Improper channels of distribution selected.
  10. Rapid change in the market (economy) after the product was introduced.

 Some of these problems are beyond the control of management; but it is clear that successful new product planning requires large amounts of reliable information in diverse areas. Each department assigned functional responsibility for product development automatically becomes an input to the information system needed by the new product decision maker. For example, when a firm is developing a new product, it is wise for both engineers and marketers to consider both the kind of market to be entered (e.g., consumer, organizational, international) and specific target segments. These decisions will be of paramount influence on the design and cost of the finished good, which will, of course, directly influence, price, sales, and profits.

 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

Call People by Name


President Reagan often is referred to as the greatest communicator ever to serve as President. And for good reasons. He used to speak slowly in a well-modulated voice, looks directly in the person or people he is speaking to, remains calm under pressure and uses simple, easy-to-understand words. Mr Reagan employs many subtle but persuasive techniques in dealing with public. Very importantly, at news conferences which are typically a very difficult presidential task, Mr. Reagan would address reporters by name when accepting a question rather than just indicating with a hand motion which reporter might speak nest. It may seem like a small point, but his method was conducive to help create good relations with the press. Why? Because people cooperate better when they are recognized by name. being addressed by name I a sincere and deeply appreciated compliment. It tells a person, “You are important to me.”

 Lyndon Johnson, the Great “Persuader,” practiced remembering names, and Lyndon Johnson was number one “persuader president” of modern times. He was enormously effective in bringing opposing factions together to get legislation passed.

 Why was President Johnson so effective as a human relations engineer? He worked at it! Long before he succeeded Mr. Kennedy as President, he developed and practiced his own ten rules to make himself more effective in working with people.

 President Johnson’s system for how-to-win-influence-over-people appears below:

  1. Learn to remember names. Inefficiency at this point may include that your interest is not sufficiently outgoing.
  2. Be a comfortable person so there is no strain in being with you. Be an old shoe, old hat kind of individual.
  3. Acquire the quality of relaxed easy-going so that things do not ruffle you.
  4. Don’t be egoistical. Guard against the impression that you know it all.
  5. Cultivate the quality of being interesting so people will get something of value from their association with you.
  6. Study to get the “scratchy” elements out of your personality.
  7. Sincerely attempt to heal every misunderstanding you have had or now have. Drain off your grievances.
  8. Practice liking people until you learn to do so genuinely.
  9. Never miss an opportunity to say a word of congratulation upon anyone’s achievement, or express synpathy in sorrow or disappointment.
  10. Give spiritual strength to people, and they will give genuine affection to you.

 Every person has a name and as Dale Carnegie observed, a person’s name is the sweetest word in our language. People feel bigger and better when called by name because it is their most valuable possession. It gives them a sense of individuality – a feeling of being unique.

Hereare five guidelines for calling people by their names to win their cooperation:

  1. Pronounce the other person’s name correctly.
  2. In conversation, use the other person’s name often.
  3. Use nicknames only when you know they are preferred by the person.
  4. Use a person’s last name until familiarity is established.
  5. Spell the other person’s name correctly.

 “Do you know who I am?” The law of self-interest—the tremendous craving for self-identity—comes through in many little ways.

 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

Structure, Roles, and Rules


What sort of structure would help the team function innovatively? The purpose of any structure is to make sure that certain essential tasks, especially repetitive tasks, get done. Structure need not be incompatible with creativity if it realeases time and energy for creative work rather than blocking creativity with excessive rules, specialization, centralization, etc. What, therefore, needs to be done is to make an inventory of tasks that must be performed more or less repitively, and allocate these tasks to individuals within or outside the team.

 However, the roles of team members should not be defined only in terms of these tasks;  there are only minimum elements of their roles. It is important to define roles broadly and not too strictly. Some ambiguity helps interaction and role clarification, not by the leader but by the situation. Indeed, it heps to have versatile team members, i.e., persons who can double for others should the need arise. Periodic interchange of roles within the team can help develop this verstality. Researchers have indicated some specific roles in innovative teams beyond those for effective teams. The creative scientist/engineer/idea man is one role. The entrepreneur (vis-à-vis the outer world) and the intrapreneur (vis-à-vis the team members) are further roles. The entrepreneur seeks new missions for the group. The intrapreneur seeks new activities within the broad mission for group members. The protector-defender-sponsor is a fourth role, whose function is to get the team the resources it needs for innovative work from the larger system of which it may be a part, and also to defend the team from external pressures or attacks. The gatekeeper is a fifth role, that of bringing to the team essential market, technical, or political intelligence from outside that can become the basis for meaningful divergent thinking. These roles need not be played by different individuals. The important point is that they should get played.

 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

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