Random Thoughts for Entrepreneurial Management - by Ravi Patel

 

A few management thoughts from past experiences:

 

  • Do not overreact to situations where there is employee dissatisfaction or customer or vendor complaints. Analyze the situation calmly before taking proper corrective action, instead of taking hurried actions due to external pressure

 

  • If you need to make a statement or convey a message regarding any irregularities in your company, do it for significant issues not trivial ones. If you mostly emphasize minor matters, your employees are going to dismiss such gestures.                                           

 

  • Do not focus on the minor issues in managing your companies; focus on the larger or macro issues for greater impact. Let your management team manage the details.

 

  • If you do have a serious situation, do not create a smokescreen and divert attention away from it to hide the real problem. Be honest and you might be surprised at the support you get.

 

  • Be sensitive to the message that you send with your actions. If you are being austere or are having cost reduction programs, do not have bonuses or spending that is contrary to the current environment in your company. Having incentives is not inappropriate, but make sure that they are related to the right objectives and are perceived positively.

 

Things to ponder as you manage your companies …

 

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