Importance of a strong and efficient management team
Sayed Javed Ahmad
Have one ever wondered why the CEOâ€™s or the top executives are, highly paid? They get paid highly with many other perks and benefits for a purpose. The purpose is to buy their total dedication for the company.
They are the people of top ranks who have demonstrated their caliber and abilities over time throughout their career. They are the ones who use their best of abilities to make a company profitable and sustainable. They are the ones who take calculated risks and takes on any career related pressure as a challenge to tackle, normally unwilling to accept any defeat. They are the special breed of people who take their jobs seriously as if they own the business; thus embodying themselves in the company as a part and parcel.
Top ranking executives are a rare breed and hard to find. As such, head hunting companies or the internal human resource department of the company is given the assignment by the companies to discover and track them down through a systematic and professionally designed screening system.
The leadership of such an individual could change a whole lot in an organization. Often a dying company revives when the right person is put in charge. Their focus on strategic plans for the company are so detailed that they leave no stone unturned. This is to ensure that they do not miss any points or possibilities.
They pretty much work round the clock analyzing problems and looking for the best possible solutions and strategies in their mind. Thus they have no time in and time out. Sometimes they become so workaholic that their overtime work activities often results in disruption in their family life. They do this because they know very well that they do not exist if the company doesnâ€™t. As the top executive he is the guardian of the company where livelihood of many people and their families depends. Therefore, failing in any strategy is not at all an acceptable option for them. Even if they fail, they ensure that it doesnâ€™t repeat.
At the Knowledge Globalization Conference held at North South University, Dhaka on May 08-10, 2010 I presented a paper on â€œThe Double M Theoryâ€; there I have stressed enough on the importance of applying this principle in employee recruitment. Top notch executives strongly believe in this theory and use it in their team building process, and they get total freedom in their selection because they are the ones who would be working with.
Often we find these executives moving from one company to another troubleshooting their management and administration contributing greatly in the business process re-engineering. They are like internal consultants who enter an organization as a troubleshooter and exits when the job is completed. They are a restless group of people with total professional attitude usually appointed for a time with an option to extend mutually.
Leaders are born, not made. Entrepreneurs are born leaders who love to take risks for a greater achievement for themselves and for the people who work with them. They are the risk takers with a total focus and dedication in their goals and objectives in order to establish and fulfill their dreams. Often they refer to their start up companies as a â€œbabyâ€ indicating that they have indulged their full potentials for the upbringing of the company they have started. Therefore, the word â€œbabyâ€ is an emotional reference. They love the company they build as if it their own little baby that needs caring approaches.
Majority of the people at this level ends up starting their own company at some point in time. These are the people who takes risks for the sake of others creating job and business opportunities. Because they know very well that â€œif there is no risk there will be no gainâ€.
Creating business after business becomes their passion, which is like an addiction but in a good way. As a result we often find them organizing and managing multiple businesses forming a conglomerate or a group of companies. They know the importance and need for diversification of their business for a long term sustainability.
These are the people who are offered the national honor like the â€œCommercially Important Person (CIP)â€ statuses. The government respects and supports them in every possible way due to the very fact that are contributors in fulfilling many national agendas of the government largely contributing to the national gross domestic product (GDP). They not only create jobs for themselves but also create job for many who eventually contributes to tax revenues for the government.
As a leader they value each and every individual those who work with them. They never underestimate the dynamism of team work in order to establish something. Therefore, under their able leadership other talents grow and blossom contributing largely to the company in formation. People cheerfully work under their leadership with full dedication knowing and believing that their leader wonâ€™t let them down. A good leader possesses the double M qualities (i.e., morality and meritocracy) and ensures that all his comrades also possess the same.
The government is contemplating on allowing some of their enterprises to go public by entering the stock market to raise capital and to operate freely. What this would mean is the public companies would no longer be able to operate with a â€˜governmental welfare attitudeâ€™. Instead, it would have to perform as a competitor in the corporate world like the rest of the businesses. If and when it happens, these companies could no longer afford to run their operations using â€˜experienced bureaucratsâ€™, rather in order to be profitable and sustain in the market competition they would have to seek out the best and the top executives who are trained and experienced totally equipped with the needed mindset to win the guerilla commando game in the corporate and industrial warfare. At that time the slow and inefficient government employees would have to say goodbye from those organizations. Because being a public enterprise listed in the stock market where many people would be holding shares, the government would no longer have the single authority to advocate for retention of such employees to the management.
The government could in fact hand over all their sick enterprises for public or private style management through the stock market. For instance, there are many enterprises that are either in loss or closed under the Freedom Fighter Welfare Trust (i.e., Mukti Joddha Kollan Trust) that could be revived through this process.
The new administration and management team would have to be given ample freedom to operate freely with the power and authority to hire and fire anyone in those organizations at will and as they see fit. Otherwise, this concept would not work resulting in turning them in sick companies making no profits disappointing the investors holding the shares. If the government is unsure, unwilling and unable to change the mindset to compete in this manner then they better stay out of the game. Because there is no point in challenging the private sector knowing very well that they would not survive and sustain in a fair competition.
The International Conference on Knowledge Globalization: http://www.northsouth.edu/KG_S.pdf
The Double M Theory: http://ocs.sfu.ca/kglobal/index.php/conf2010/2010dhaka/paper/view/14
All about â€˜Double M Theoryâ€™: http://www.thefinancialexpress-bd.com/more.php?news_id=88912
Losses pile up at state entities: http://www.thedailystar.net/newDesign/news-details.php?nid=142406
State shares fail to float: http://www.thedailystar.net/newDesign/print_news.php?nid=145237