“Survival of the fittest” is the law of the jungle, which is equally
applicable to the competitive market. As a manager your responsibilities
include:
Ensuring survival
Actively seeking growth
Profits are a must for survival and growth of a business as they provide the
cushion to:
Take risks
Think big
Venture into unknown areas
Profits generated can be used for
Expansion
Upgrading technology
Paying dividends
·Meeting the challenge of change
Change is an important element of any flourishing business management today.
The market is increasingly aggressive and to remain competitive a manager has
to adopt a positive attitude to change.
A change can be dealt with in three ways by:
Resisting
Following
Leading
Almost all promotions, new ventures and expansions bring more challenges
before delivering gains
Assess your objectives
Managers need to identify where changes are needed in order to plan better.
The ambitions have to be expressed in words and then converted into facts and
figures to have a sound basis for planning how to achieve them.
Give an ear to complaining customers; they tell you what to change. Ask your
employees; dissatisfied employees will identify any need for change. Involve
people to develop solutions and plan changes.
