The World without Bankruptcy Laws
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
It is essential that an organization should be prepared for 360 Degree feedback. Not only the organization, but also the candidate (the employee) should be prepared for accepting it. Following are the essentials of an organization’s preparedness for the 360 degree approach-
 | The top level management must be keen to spend their time and efforts in giving feedback to their subordinates. |
| Status and ego issues shouldn’t overwhelm in the organization. |
| The subordinates and the peer both should assess and analyze the top-level managers and the top- level management should be open to accept their feedback. |
| Everyone in the organization should take the feedback considerately and constructively and utilize it for their development. |
| Ethics and moral values should be predominant in the organization. |
| The organization should encourage teamwork. |
| There should be self- learning in the organization, especially for the managers. |
| The personnel department of the organization should be highly credible. |
| There should be no politics in the organization. |
| Everyone in the organization should take the feedback seriously and should make an attempt to benefit from the same. |
| It must be ensured that the feedback is confidential. |
Following are the essentials of analyzing the candidate’s (employee’s) preparedness for the 360 degree approach-
| The employee should have an intention to be better. |
| The employee should be open to accept the feedback and should respect the views of others. |
| The employee should have a competitive feeling. |
| The employee should be keen in knowing the viewpoints of others towards him. |
| The employee should always learn on the job. |
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