In today’s world where a rise in dollars price not only affects the NASDAQ but also Nikkei and fall in Euro shakes the Middle eastern Markets, Companies have to be up on their heels and should be lead by Managers who are not only eager to go head but have a vision in their approach. He should be technically adept for every situation.
1.The manager should have prime knowledge of the various dependent economies and currencies in the market. Globalisation has led to concept of free markets. A free-market economy is an economy where all markets within it are unregulated by any parties other than those players in the market. In its purest form the government plays a neutral role in its administration and legislation of economic activity neither limiting nor actively promoting it (for example neither regulating industries let alone owning economic interests nor offering subsidies to businesses let alone protecting them from internal/external market pressures). Such an economy in its most radical form does not exist in developed economies, however efforts made to liberalise an economy or make it "free-er" attempt to limit the role of government in such a way. The theory holds that within an ideal free market, property rights are voluntarily exchanged at a price arranged solely by the mutual consent of sellers and buyers. By definition, buyers and sellers do not coerce each other, in the sense that they obtain each other's property rights without the use of physical force, threat of physical force, or fraud, nor are they coerced by a third party (such as by government via transfer payments) and they engage in trade simply because they both consent and believe that what they are getting is worth more than or as much as what they give up. Price is the result of buying and selling decisions en masse as described by the theory of supply and demand. The manager should have an eagles eye on the volatile market and its elements.
2. A Manager should be adept in communicating organizational vision to the employees of the organization. He should ensure that there is effective communication flow in an organization and that there should no misinterpretations taking place.
3. A manager has crucial role to play in decision making process in an organization. He has to decide how to bring and communicate organizational changes. He plays a major role in setting organizational goals. He has to be in close contact with the employees of the organization. He should understand them and motivate them. He should encourage them so that they can perform effectively. He should praise them when they show brilliant performance and on bad performance, he should give them constructive feedback rather than negative feedback. He should provide them online support and coaching.
4. The manager should keep track of the changing perspective, opinions and moods of the market. Courage and vision are the two most important feathers in a mangers cap. Going against the trend or be it changing the path and direction of flow altogether Manager should be post a picture of valour and creativity in front of his team.
As a Case history :The Royal Enfield Motors was struggling to keep pace with the changing market paradigm. A new CEO R Chandra arrived with new vigour and brought out Thunderbird brand of motorcycles that were a instant hit and made a niche market for themselves.
Similarly Food chain Biggies like McDonalds are serving dishes as per the ethic=nicety and culture of the market in which they want foothold.
5. A manager should constantly upgrade his knowledge as well as skills of his staff otherwise he may fall behind in today’s cut throat environment. Vocational workshops, communication skill enhancement, Knowledge relating to changing corporate laws are obligatory.
6. A manager should develop a Independent thinking and should not only be responsible for the decision he takes but should be responsible for its consequences or repercussions . Independent thinking alone is not suited to interdependent reality. Independent people who do not have the maturity to think and act interdependently may be good individual producers, but they won't be good leaders or team players. They're not coming from the paradigm of interdependence necessary to succeed in organizational reality.
7. I today’s open market not only the Manager should be eager in expanding into new territories but strengthening foothold in the current markets and increasing the brand value and trust of the Organisation as a whole .Many brands with their constant hard work have cast a spell of trust on the market generally such as leading bike maker Hero Honda or mobile company Nokia. Nokia is a Finnish Company doing great in India and China. They have understood the needs of local public and researched the conditions and succeeded.
8. Not only Managers should be eying foreign markets but always be on guard from advent of foreign players that try to invade your own local markets. That requires great amount of ingenuity as the usual MNC are well prepared for gaining foothold backed by huge amount of capital and workforce as well as alliances.
As a example. the Indian toy market, biggest in the world after china, has been completely taken over by cheap Chinese counterparts. While the Indian companies still pla ced bets on key and spring spirals, Chinese were there with their cheaply priced electronically run toys. Now the market is plagued with sub-quality products.
In other case, Parle Agro is still the market leader in sweet beverages field. Biggies like Coca Cola and Pepsi have brought their products like Juce up,Aquafina but Bisleri,Rasna are still the favourites as they have not only maintained pace with changing tastes but also kept up to level of quality standards.
No comments:
Post a Comment