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By Ajay Wahi
As a CEO, you need to be a thinker and a strategist, with your feet on the ground and your mind reaching for the sky. Your effectiveness as a CEO, however, will depend upon your ability to identify and understand the ground realities of your business.
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G K Pramod, an expert in MSME Oriented pilot programmes, and the author of The Second Gear: Strategizing Business growth Plan for Micro Entrepreneurs, shares various aspects of Business Growth Plans in a series of columns through Small Enterprise India. Mr. Pramod discusses the importance of sustainability in business.
I have been observing the constant change in attitudes of employees over the last two decades. Turning the clock back, during the 70’s and 80’s, things were different. Our economy wasn’t doing anything great and wasn’t close to becoming a world super power that it will now be. The revolution in IT, BT, BPO industries were not even dreams. The job opportunities weren’t many and the government, banks and public sector still were favourites for job seekers.
Large companies have many people to help the company grow through a combination of hard work and smart work. But in a SME, it is the CEO and his relatively small leadership team on whom this responsibility rests. It is impossible to fulfill this responsibility without devoting extra time and full dedication, which in turn are possible only if there is support from the family. In fact, I would go so far as to say that you should accept the position of CEO of a SME if and only if you have the full emotional support and backing of your family.
The year was 1975. I had joined a degree course, completely dejected, having failed to get an engineering seat, which was the route to my dream career. With no focus, I was doing badly in the course. Eventually, I caught the attention of my mathematics professor who called me over to his office. He was a great listener and allowed me to pour out my woes. When I had finished, he smiled and said, “Perhaps, it’s good you missed engineering”. I was surprised and asked him how. He said, “Let's find out.”
Years back, I suddenly heard a huge commotion in the other end of our office. It was around noon and any commotion at this time was unusual, as we had a large sales team, which would be out by ten in the morning.
This is an action, if done correctly, would earn you the loyalty of your key personnel forever! I seem to keep harping on people retention issues, but you know as CEO, this is one of the most crucial issues, and the biggest threat (besides poor cash flow management) to success that a SME faces.-New.gif)
