Growth, Development and Expansion
a. Developing and Retaining New Managers
A corporation will always need new and innovative managers for its survival and continuity. The present managers have an obligation to the corporation to do what they need to do to ensure that a system is in place for developing new managers on a continuing basis. However, a corporation can only provide the environment for managers to develop themselves through their participation in that system. No corporation can develop a manager unless that person wants to participate in his own self-development.
Development is always self-development. New skills and new knowledge can be taught and learned, but someone who is to be entrusted with managing other people, being fair and honest at all times, and playing a vital role in the lives of others, should possess the basic and most important quality for that job - the quality known as integrity. When a corporation finds a person with integrity, who is willing and able to learn new skills, is motivated to focus on her own self-development, then the corporation has an obligation to expose that person to situations, which will give her the kind of experience necessary to help her in her development for the particular management position.
The very best thing that the corporation can do for that new manager and for the corporation, is to direct the new manager to develop other managers, using the same criteria as stated above. It is only through efforts to develop other managers that a new manager will place upon herself the demand for excellence in her own performance as a manager. Each time she teaches a management principle, each time she explains a management function, each time she overcomes a communication problem, each time she succeeds in motivating the upcoming managers, she becomes more proficient and closer to being the perfect manager.
b. Expanding Your Market
Managers must understand that the main purpose of a business is to create customers for its goods and services. Unless your product is a novel invention, it is unlikely that there will be an unlimited market waiting for your product. Your product will therefore be in competition with other similar products and it becomes your job to make your product competitive in price, quality or convenience of purchase. Marketing your product is therefore the number one priority of your corporation. Marketing involves making the public aware of the benefits of purchasing your product, and motivating them to purchase that product.
Better and less expensive products constantly replace good products. A manager needs to be aware of the changes in customer preferences, styles, and tastes. Changes in society and the influence that the media exercises on the buying public cannot be overlooked. Kids do not watch cowboy movies anymore. They prefer music videos and computer games. All this can be summed up in one word - innovation! A manage must be innovative if she intends to stay in business. She must either improve existing products or develop new lines of products.
In a not for profit corporation, expanding your market may mean increasing your membership, or providing better services to the objects of the charity, or both. Whether you are operating a for profit or not for profit corporation, the principles are the same - you must get the Attention of the buyer or prospective member, you must arouse their Interest in your product or not for profit corporation, you must create a Desire to buy or become a member, and you must motivate the person to take the appropriate Action. (A.I.D.A.)
c. Public Relations and Social Involvement
A corporation with a good image in the community enhances its potential for attracting and maintaining customers. The managers of the corporation should make every effort to get involved in community activities, contribute to worthy causes and play a role in the development of the surrounding areas. Hiring students in the summer and Christmas seasons, making gifts to kindergartens and infant schools may be tax deductible and is a means of advertising your business.
Attending sensitive functions in the community and taking the time out to pay your respects at funerals are noticed by the public and does make a difference. Over the years the community will get to know you as either a generous person or a “mean ---------- ”.
Perhaps the greatest contribution a businessperson can make to the community is assisting with the development of the young persons in that community. The results may not be seen immediately, because the development of people is a long-term project. However, if 10% of businesses in a particular locality would subscribe to this idea, even the unbelievers might be converted by the results.
Copyright (c) 2004 Eugene Fitz-Ritson
All Rights Reserved
Miami, FL
A corporation will always need new and innovative managers for its survival and continuity. The present managers have an obligation to the corporation to do what they need to do to ensure that a system is in place for developing new managers on a continuing basis. However, a corporation can only provide the environment for managers to develop themselves through their participation in that system. No corporation can develop a manager unless that person wants to participate in his own self-development.
Development is always self-development. New skills and new knowledge can be taught and learned, but someone who is to be entrusted with managing other people, being fair and honest at all times, and playing a vital role in the lives of others, should possess the basic and most important quality for that job - the quality known as integrity. When a corporation finds a person with integrity, who is willing and able to learn new skills, is motivated to focus on her own self-development, then the corporation has an obligation to expose that person to situations, which will give her the kind of experience necessary to help her in her development for the particular management position.
The very best thing that the corporation can do for that new manager and for the corporation, is to direct the new manager to develop other managers, using the same criteria as stated above. It is only through efforts to develop other managers that a new manager will place upon herself the demand for excellence in her own performance as a manager. Each time she teaches a management principle, each time she explains a management function, each time she overcomes a communication problem, each time she succeeds in motivating the upcoming managers, she becomes more proficient and closer to being the perfect manager.
b. Expanding Your Market
Managers must understand that the main purpose of a business is to create customers for its goods and services. Unless your product is a novel invention, it is unlikely that there will be an unlimited market waiting for your product. Your product will therefore be in competition with other similar products and it becomes your job to make your product competitive in price, quality or convenience of purchase. Marketing your product is therefore the number one priority of your corporation. Marketing involves making the public aware of the benefits of purchasing your product, and motivating them to purchase that product.
Better and less expensive products constantly replace good products. A manager needs to be aware of the changes in customer preferences, styles, and tastes. Changes in society and the influence that the media exercises on the buying public cannot be overlooked. Kids do not watch cowboy movies anymore. They prefer music videos and computer games. All this can be summed up in one word - innovation! A manage must be innovative if she intends to stay in business. She must either improve existing products or develop new lines of products.
In a not for profit corporation, expanding your market may mean increasing your membership, or providing better services to the objects of the charity, or both. Whether you are operating a for profit or not for profit corporation, the principles are the same - you must get the Attention of the buyer or prospective member, you must arouse their Interest in your product or not for profit corporation, you must create a Desire to buy or become a member, and you must motivate the person to take the appropriate Action. (A.I.D.A.)
c. Public Relations and Social Involvement
A corporation with a good image in the community enhances its potential for attracting and maintaining customers. The managers of the corporation should make every effort to get involved in community activities, contribute to worthy causes and play a role in the development of the surrounding areas. Hiring students in the summer and Christmas seasons, making gifts to kindergartens and infant schools may be tax deductible and is a means of advertising your business.
Attending sensitive functions in the community and taking the time out to pay your respects at funerals are noticed by the public and does make a difference. Over the years the community will get to know you as either a generous person or a “mean ---------- ”.
Perhaps the greatest contribution a businessperson can make to the community is assisting with the development of the young persons in that community. The results may not be seen immediately, because the development of people is a long-term project. However, if 10% of businesses in a particular locality would subscribe to this idea, even the unbelievers might be converted by the results.
Copyright (c) 2004 Eugene Fitz-Ritson
All Rights Reserved
Miami, FL