"The principles of running a good business are easily stated in one paragraph: ethics; clear goals; take care of the customer; take care of the employee; product quality and service; innovation; cost control; productivity; sound finance; manage the risk agenda; nimble and flexible; decision-making for the long term; deal with problems; avoid denial; prudence; patience, tone at the top; keep ego out of it; treat everybody the way you want to be treated; beat the competition."
This is the gospel of University of Manitoba prof John S. McCallum, in his recent article, "Executives and the Recession," in the Ivey Business Journal.
Why is he telling people what seems so obvious?
"I have watched management thinking careen through flavours of the day like management by objectives, management by exception, decentralization, Theory X, Theory Y, six sigma, total quality management, reengineering, outsourcing and a gem I especially like, management by walking around. But these principles are about it! Would they were as easily executed from day to day as stated!"
You can read the full article here.