CONDITIONS FOR SUCESSFUL MANAGEMENT
(Of Well Managed Companies)1. Sets our Goal High:
Keep your vision at a high level. For example goal of a tata motors was very high regarding nano and goal of an ITC was to become a fast moving consumer goods Enterprise and thereby they introduce a new product within an every 3 month.2. Concentration on one field;
Say no to Conglomeration of companies.3. Operational Excellence;
Enterprise should create an operational excellence in the organization so that innovation can be made and they can earn more profit. For Example- TATA Motors has suffered a loss of 500 cr. In 2001 but with the help of innovation of cheaper steel it has created a Nano in the year 20094. Well Qualified Managers:
After the Case of Sat yam Aaron etc a Enterprise should have well qualified mangers to manage the enterprise.5. Internal Promotion:
Most of the CEO of Well Managed Enterprise are from the same Enterprise through internal promotion. For Example- CEO of Larson & Turbo am nayak join the Enterprise in 1965.6. Good Relation with Trusted Suppliers:7. Standard Quality of Products8. Research & Department
To Satisfied the demand of the customer a well managed Enterprise invest a huge capital on R&D.