CONDITIONS FOR SUCCESSFUL 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 2009
4. 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 Products
8. Research & Department-
To Satisfied the demand of the customer a well managed Enterprise invest a huge capital on R&D.
9. Social Service