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4349 The World without Bankruptcy Laws

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4348 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 […]

4347 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 […]

4346 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 […]

4345 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 […]

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The success and failure of an organization is directly proportional to the effectiveness of the management.

The superiors must share a healthy relationship with the employees for them to deliver their level best.

Leaders need to acquire certain skill sets for an efficient functioning:

  • Management needs to be impartial towards its employees. Rules and policies should be same for everyone. Favouritism is a strict no no at the workplace. No employee should be granted special favours.

  • The leaders must promote healthy discussions at the workplace. Make the employees work in teams for them to know each other well. Encourage morning meetings or weekly meetings for the employees to come up with their problems. Issues should not be left unattended.

    Try not to meet employees separately in closed cabins. Discussions on a common platform are more fruitful and generate better results. Meet the employees once in a week or month as per your schedule. Don’t make the meetings too formal. Allow the employees to bring their cups of coffee as well. Individuals do not open up much in formal discussions.

  • The superiors must ensure that employees do not fight amongst themselves. Conflicts must be avoided at the workplace as nothing productive can be gained out of it.

    Make sure individuals do not have problems with each other and gel well. In cases of conflicts, management must intervene and sort out differences immediately. Make the employees sit face to face and let them discuss things amongst themselves.

  • Make sure employees adhere to the rules and regulations of the organization. Set clear objectives for the employees. Targets must be predefined and the employees must know what they are supposed to do at the workplace. Discipline must be maintained at the workplace. The employees must come to work on time and strict action must be taken against those who do not follow company’s policies.

  • Be a good listener. The management must interact with the employees more often. Such initiatives go a long way in motivating the employees and make them stick to the organization for a longer span of time.

  • The “Hitler approach” does not work in the current scenario. Be a mentor to your employees rather than being a strict boss. Guide them in their work. Try to help them in their assignments. Help them come out with innovative solutions.

  • Motivate the employees from time to time. Design lucrative incentive plans and schemes to bring out the best in them. Appreciate each time they do good work.

  • Encourage subordinates to celebrate birthday parties and important festivals at the workplace. Let the employees enjoy together. The seniors must also participate in such activities.

  • Review the performance of the employees on a regular basis. Make sure employees are satisfied with their job responsibilities. The duties assigned to them must be as per their interests and specialization. Employees not performing up to the mark must be dealt with patience.

  • The leaders must promote necessary training programmes to upgrade the skills of the existing employees. Team building activities also strengthen the bond amongst the employees.

  • Make sure employees achieve their targets and organizations earn their profits. Salaries must be distributed on time. The employees must be happy with their job.

  • Encourage effective communication at the workplace. Communicate more through emails.

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