DHANDHA –MERI JAAN
In the modern world, Human life is getting organized day by
day .Every activity we do, we try to simplify it and create a logical algorithm
to perform in an efficient way. By this tendency, value of management of
anything you do has become very important. In case of businesses, success of
every process heavily lies upon managing money, resources and humans. Business
Management is both science and art , we can define steps but still the outcome
of any business activity is undefined .Due to this irony we need continuous exposure and knowledge to
become better in this art . So I am trying to simplify it by giving lifetime
experiences and excellent examples seen during my stay in NITIE, Mumbai.
BUSINESS MANAGEMENT
In this globalized world, businesses have developed from
mere profit making entities to value generating entities for individuals and
society as a whole. Businesses have grown bigger than before, so complexities
related to it also increased many fold. Now Business Management is not only
related to managing your resources but understanding the concept of organization.
This can be understood by an example of an activity which is performed during a
session on Principles of Management by our class in NITIE, MUMBAI.
ART OF BUILDING A BUSINESS
STAGE 1:
During this session, everybody was asked to volunteer for an
game called DARE TO BUILD. In the game you have to build a tower of cube but
you will be blindfolded and have to use only one hand. But there was a
condition involved, which was whosoever wants to be a part of this game has to
bet some money. Those guys have to risk that money to accomplish this task.
The situation above is similar to a company where interested
people invest money to build a entity which can thus generate some profit in
return .The risk involved is also shared by those people .So as a principle for
any business , You need a set of like-minded people who can work together and
face problems but are determined to succeed.
Any big business want founders like that , so we had three guys
who volunteered by investing a mere some of Rs. 975 to start with .
STAGE 2:
Now we got three guys who invested but none of them knew the
task to perform. So here comes the concept of GOAL SETTING, which in turn means
that we need to set our goals and objectives very clearly. I must tell you, Goal
setting for any business activity is the most important decision taken by the
founders .This boils down to a question that what kind of goals we should set. I
understood and wish you people to follow the concept of SMART Objective setting
approach.
SMART Approach:
- S stands for Specific, to do that we asked everybody that what should be the desired height of the tower to everybody sitting in the class. Volunteers gave specific no. of blocks to build the tower. In any business, while setting up a goal we should be as specific about the details as possible.
- M stands for Measurable, which means we should have some numerical data to represent the goal.
- A stands for Attainable, Objectives should be achievable under given circumstances .
- R stands for Relevant, every objective should be relevant in order to achieve the goal of the business.
- T stands for Timely, we should develop a timeline to attain the objectives.
This approach to set your objectives helps you to analyze
the current situation as well as predict the future of the business.
STAGE 3:
Group was made and objectives are set, now It was time to
implement ideas into reality .These guys have to decide the structure of their
organization first before moving forward:
1.
Workforce Selection:
Blindfolded guy to perform the activity who can be considered as the work
force required to perform the operation of the project.
2.
Middle Management Selection:
A guy who can help blindfolded guy to place the cubes. This represents
middle management who is responsible to direct , achieve the desired objective
, optimum use of resources and maintain the timeline for the project .After
doing all these work, he has to report to top management for discussing the progress of the project.
3.
Top Management Selection:
A
guy who can strategies about how to achieve goals , direct entire company and
stream line the thought process of employees in favor of companies objectives .A
guy was selected to do this task .
STAGE 4:
Business or activity is in progress to perform certain task
which can benefit the company or that group. A lot of difficulties has been
faced by this group as it happens in case of a company. In this workers were
doing hard work to make the product. Middle management was managing the whole
process of tower building. Top management was involved in crucial times of
difficulties, where it pitched in to advice and give motivation. This benefits
both middle management guy and worker to perform as per plans.
STAGE 5:
At the end of the activity, the given task was achieved and
everybody in the group was feeling a sense of achievement. This association of
human beings can be seen in any group activity and this is very important. It shows
the human side of a profit building entity and promotes the culture of any
organization. This belongingness helps an organization to grow in healthy and focused
manner. Everybody should have a defined share of appreciation as it was in the
activity. So it very essential to start but more important is to finish with
sense of achievement and pride.
DECISION MAKING DURING THE ACTIVITY:
·
As top management is responsible for giving
direction to whole company. So first they should be themselves clear about the
goal of the company and should define it on paper.
We have seen that industries help build
nations and they are the building blocks. So Company leader should be ethical
and socially responsible to benefit both company and society
·
As middle management, you have to be
approachable and should understand the difficulties faced by workforce. You
have to focus on achieving the target but also decide according to working
conditions, remuneration and benefits provided to the employee. For example ,
When I worked in my business, I observed that every individual wants space to
work and freedom to perform in his own way .It is very essential to recognize that
balance of organization policy and personal freedom given to employee
·
Workforce should also have sense of
responsibility towards the organization. This is shown by hard work, on time work
and dedication toward work.
·
As I have seen the activity, a lot of students
other than these guys were involved in suggesting the ways to accomplish task.
These days in businesses, these people are called Consultants. Consultants are
people who do analysis of your company and try to give you genuine feedback and
suggestions to improve running of your company.
ZEAL FOR ENTREPRENEURSHIP
Entrepreneur are business man who try find innovative and
life changing ideas , then implement them into a viable business. Whole blog
was focused to induce a burning desire into minds of thousands of management
graduate like me. Unless and until , we become our boss to change the face of
this globe our country will not be utilize its best resource –Young People like
us .
So last lines as said by Dr. T. Prasad who took the session
:
