OPPORTUNITIES ABOUND FOR INVESTING IN INDIA
Growing a company from a concept to industry leader requires a special breed of individuals- those who spot opportunities in every problem and don't take no for an answer. They are called entrepreneurs.
Entrepreneurs are creative individuals who have an uncanny ability to find solutions to complex problems. They do not seek risks, but manage them. Successful entrepreneurs maintain a delicate balance between risk and recklessness.
Bottom-lines are crucial to any business. Entrepreneurs who have marginal number skill are rarely successful. Are successful entrepreneurs also accountants? Are balance sheets corporate horoscopes?
Generally, little distinction is made between money and wealth. And same goes for a businessman and an entrepreneur. Entrepreneurship involves vision, leadership, and determination. it is about building great enterprises. Great enterprises are built on passion, and this passion has to be about the business, the product or service, the market, the customers, the people who work for you and not about stock options and IPOs and mere numbers. Entrepreneurs work to create enterprises, values and successful teams. Rewards follow in due course.
While a businessman is more focused on money making for himself, an entrepreneur is more concerned with the creation of wealth for his enterprise. A healthy balance sheet speaks nothing for an enterprise. A healthy balance sheet speaks nothing for an enterprise. Financial data is not the only performance indicator. Strategy, customer retention, innovation, marketshare, ability to attract and retain talent. compensation, efficacy of major process, leadership, quality of governance and similar assets often reflect better a company's economic well-being and growth prospects. These non-financial intangible assets in many businesses.
When it comes to performance measurement, there are advocates of both financial and operational measures. However, there is a middle path. This is a balanced scorecard that comprises financial measures that reveal the results of the actions that have already been taken, complemented by three sets if perspectives relating to customers, internal processes, and the organisation's ability to innovate and improve. The balanced scorecard is an ideal measure in the current age of information when the competitiveness of an enterprise depends on its ability to exploit its intangible assets over the physical ones. It is now important to not only measure how much you made but also how you made it.
Aggressive business leadership in a highly competitive environment has in the recent past transgressed boundaries. The method of taking money from investors and reporting corporate performance calls for a thorough revamp. Globalisation has created many opportunities including the odds for large-scale fraud. Unscrupulous leadership, fuelled by insurmountable greed, has driven corporate behaviour in the recent past. The centre piece of what seems to be a big jigsaw puzzle is human values at the workplace or the lack of it.
The belief that all individuals have dignity, that we are all capable of finding our inner compass, and that a magnificent being or force defines purpose in all that we do is not alien to management thinking. When companies employ people and deploy them in teams, these individuals are not mindless robots or mercenaries. They are capable of respecting one another and their calling go beyond the bottomline. Leaders who do not respect this fundamental and innate quality of human beings are making serious mistakes and will have to pay for it dearly. Many have already.
Entrepreneurs are creative individuals who have an uncanny ability to find solutions to complex problems. They do not seek risks, but manage them. Successful entrepreneurs maintain a delicate balance between risk and recklessness.
Bottom-lines are crucial to any business. Entrepreneurs who have marginal number skill are rarely successful. Are successful entrepreneurs also accountants? Are balance sheets corporate horoscopes?
Generally, little distinction is made between money and wealth. And same goes for a businessman and an entrepreneur. Entrepreneurship involves vision, leadership, and determination. it is about building great enterprises. Great enterprises are built on passion, and this passion has to be about the business, the product or service, the market, the customers, the people who work for you and not about stock options and IPOs and mere numbers. Entrepreneurs work to create enterprises, values and successful teams. Rewards follow in due course.
While a businessman is more focused on money making for himself, an entrepreneur is more concerned with the creation of wealth for his enterprise. A healthy balance sheet speaks nothing for an enterprise. A healthy balance sheet speaks nothing for an enterprise. Financial data is not the only performance indicator. Strategy, customer retention, innovation, marketshare, ability to attract and retain talent. compensation, efficacy of major process, leadership, quality of governance and similar assets often reflect better a company's economic well-being and growth prospects. These non-financial intangible assets in many businesses.
When it comes to performance measurement, there are advocates of both financial and operational measures. However, there is a middle path. This is a balanced scorecard that comprises financial measures that reveal the results of the actions that have already been taken, complemented by three sets if perspectives relating to customers, internal processes, and the organisation's ability to innovate and improve. The balanced scorecard is an ideal measure in the current age of information when the competitiveness of an enterprise depends on its ability to exploit its intangible assets over the physical ones. It is now important to not only measure how much you made but also how you made it.
Aggressive business leadership in a highly competitive environment has in the recent past transgressed boundaries. The method of taking money from investors and reporting corporate performance calls for a thorough revamp. Globalisation has created many opportunities including the odds for large-scale fraud. Unscrupulous leadership, fuelled by insurmountable greed, has driven corporate behaviour in the recent past. The centre piece of what seems to be a big jigsaw puzzle is human values at the workplace or the lack of it.
The belief that all individuals have dignity, that we are all capable of finding our inner compass, and that a magnificent being or force defines purpose in all that we do is not alien to management thinking. When companies employ people and deploy them in teams, these individuals are not mindless robots or mercenaries. They are capable of respecting one another and their calling go beyond the bottomline. Leaders who do not respect this fundamental and innate quality of human beings are making serious mistakes and will have to pay for it dearly. Many have already.
