“Rank does not confer privilege or give power. It imposes responsibility.” 1 – Peter F. Drucker Supervision refers to the act of overseeing the activities performed by other people. It is concerned with observing, guiding and monitoring a group of people as they apply themselves towards the performance of the assigned responsibilities – within time, cost,
Excellence is to do a common thing in an uncommon way – Booker T. Washington 1 By their very nature, human beings seek to gainfully employ their intrinsic abilities – whether in employment, professional service, entrepreneurial work, or even running a home. People yearn for the opportunity to perform challenging work that employs their capability and
Life is like a cobweb, not an organization chart. 1– Ross Perot The organization is a structured social entity. It is characterized by a coordinated activity system that remains in close and continuous interaction with its external environment. As a social unit, every organization is presumed to have a special and limited purpose (such as providing
Where the mind is without fear and the head is held high, Where knowledge is free. Where the world has not been broken up into fragments by narrow domestic walls. Where words come out from the depth of truth,Where tireless striving stretches its arms toward perfection. Where the clear stream of reason has not lost
While construction of value system involves analysis, implementation is all about action. With an understanding of how a Value System is constructed, the entrepreneur can now strategize how Value can be realised through the Value System
It is very rare to find a single organization being able to deliver the complete set of the Value Curve on its own. A Value System (i.e. a chain of organisations that contribute specific value to the value curve) is put together for this purpose.
The primary vehicle for delivering the value promised by business idea is the Value Chain of an organisation and hence an understanding of the concepts and principles of the Value Chain would be beneficial for an entrepreneur.
Studies have found that two-thirds to three-quarters of large organisations struggle to implement strategies. A survey of more than 400 global CEOs which reported that executional excellence was number one challenge facing corporate leaders in Asia, Europe and the United States, heading a list of 80 issues, including innovation, geopolitical instability, and the top line growth.
Since strategies exist at various levels of the organization, the strategic plans also exist at all levels. Though the scope and scale of plans, thinking, and managerial activity varies; all plans have two fundamental aspects: ends and means — what is to be achieved and how it is to be achieved.