Leadership and Business Wisdom.

Byline: S. Kamal Hayder Kazmi

To succeed in business presently, you need to be flexible and have good planning and organizational skills, experts say. Starting a business requires analytical thinking, determined organization, and detailed record-keeping. It's significant to be aware of your competition and either appropriate or enhance upon their successful tactics. You'll almost certainly end up working harder for yourself than you would for someone else, so prepare to make sacrifices in your personal life when organizing your business. Providing good service to your customers is crucial to gaining their loyalty and retaining their business.

Organizational Inertia

All organizations need to know that virtually no program or activity will perform effectively for a long time without modification and redesign. Eventually every activity becomes obsolete. Among organizations that ignore this fact, the worst offender if government. Indeed, the inability to stop doing anything is the central disease of government and a major reason why government today is sick. Hospitals and universities are only a little better than government in getting rid of yesterday.

Businessmen are just as sentimental about yesterday as bureaucrats. They are just as likely to respond to the failure of a product or program by doubling the efforts invested in it. But they are, fortunately, unable to indulge freely in their predilections. They stand under an objective discipline, the discipline of the market. They have an objective outside measurement, profitability. And so they are forced to slough off the unsuccessful and unproductive...