The Golden Rule Of Management

By: Willie Krut
Submitted: 2007-01-17 15:09:18
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The revolution of young top-managers and “young billionaires” is one of the most appreciable signs of the "new economy". The stereotypes fall and new styles of management with a new business philosophy arises. Every respectable company in the world is looking for these kinds of managers today. But to find them becomes difficult. If before graduates of prestigious schools with high ratings were considered the big successes to start their career in world-renowned corporations, so now the “leaders of the generation” prefer to create their own business. Today, if you have intellectual capital you can reach the top of the new economy very quickly.

This is a call to the giants of the economy. The young top managers are building their businesses based on new progressive ideas and become very competitive to existing ones. There is always room for opportunities. According to statistics, only 1% of all financed projects are really capable of making competition to existed high-tech giants. The rest of the majority of top managers, armed with the experience of a new era of navigation in business knowledge, still join the big corporations. As a result are new priorities in business strategy.

The strategic vision of prospects and skills to lead a team built on a company’s values and goals is the main quality of successful new top-managers. Enterprise experience has given them skills to correctly use information and the environment. They have all the necessary parts of leaderships: analytical skills, organizing skills plus motivation talent.

Business reengineering and decreasing size of companies was for a long time considered as an effective business strategy for old school managers. In reality it just slowed down progress and development in those companies. Caution and conservatism of the heads of the old companies taught them: it is better to cut expenses, reduce the price, comfortably sit in their chairs and without risk get stable profits than jump into danger and uncontrollable growth. The young top managers that tasted the forbidden fruit of modern business have written a "New Testament" of business. Continuous growth based on innovation is the first precept. The secret weapon of new leaders is the ability to operate a continuous transformation of all subsystems of the company based on the aspiration to reach the corporation’s goals.

Following the common rules and standard schemes, trying to keep everything stable are the main values of yesterday’s managers. Today those kinds of values are considered as negative qualities for top managers. The business models that you learn even at the most advanced business schools become outdated already the next day because of the fast growth of new technologies and new markets. If before the education you received was enough for the rest of your life then now progress demands that you continuously improve it.

Readiness for change of spheres and fields of business is another new feature of today’s new top managers. This is actually one of the most common requirements of employers today. Today’s day manager is obliged to have experience in different types of markets.

One leader of the German IT-business once said: "The one who stops growing stops being the best. The first place takes the competitor and throws out the former fashion-maker from the market". This person knew what he was talking about. He was hit by such destiny. Obsession, flexibility, readiness for constant changes, and a willingness to provoke such changes are the real qualities of the top manager of a new era. I would name such a combination "The golden rule of management"

Article source: Expert Articles