Published On:Friday, May 11, 2012
Posted by devil
How to Build a Successful Company
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Having your own ‘start-up’ has almost become the status quo in today’s markets.
Every day, we hear news about some new start up or the other– they seem to be sprouting all over the place. However, every one of these new companies makes it big in the real world out there. So what is it that differ the big, successful companies from the ones that fizz out over the course of time?
1. Organization
Proper organization is the key factor to any company’s success. It is the manager’s responsibility to layout the company structure in a manner which ensures the stability of the company in the long run. The company should be able to tackle any new changes or developments that may come up in the market or in their respective fields.
2. Goals
The employees’ goals should be in line with the company’s goals. It is up to the manager to create such an environment in the company, where everyone works for a common cause. Providing the employees with incentives and other motivational factors are effective ways of spreading a feeling of oneness with the company.
3. Effective communication
This is the most essential factor to be implemented in any organization. Top to bottom communication has to be highly effective and vice versa. All communication channels should be capable of properly functioning in both directions. The manager should be capable of making the employees aware of any new or modified organizational strategies for the proper functioning of the company. Meanwhile, the employees should also make a note of communicating any significant internal developments to the higher management. In today’s world of intertwined mass media and social networking, managers should make the most out of the available technology to connect with employees on newer levels.
4. Decisions, decisions
A single decision has the power to make or break the future of a company. Proper analysis of the problem at hand is required in such cases. Rushing things is pointless in the longer scheme and may end up causing havoc. Prioritizing as well as looking for alternatives are two important factors to be kept in mind.
5. Make hay while the sun shines
Be it a new one or an old one, a company is bound to face hardships and struggles in its path. There is no escaping this bitter truth. In such a case, pre-planning is of utmost importance. The manager should see to it that an effective planning strategy is implemented throughout all levels of the company. Apart from obstacle management, good planning can also help in achieving preset targets for the company.
6. Take hold of the reins
Leading by example is one very important trait that a manager should possess. Seeing and observing a superior work selflessly for the good of the company also motivates the employees to give their best. The manager should possess the ability to take control of a wayward situation by the scruff of the neck and turn it around for the company’s benefit. It is factors like these which play an important role in deciding the success of a company. Focused implementation of these points creates a culture within the company, where taking No for an answer is just not an option. Everybody works together to achieve a common target and keeps the company up and kicking. Happy employees and a financially sound company are the perfect benchmarks for a successful company.
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