Wisdom – Pakistan & Gulf Economist http://www.pakistaneconomist.com Pakistan's Business Financial Magazine Sun, 21 Jul 2019 19:49:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/07/22/leadership-business-wisdom-29-19/ http://www.pakistaneconomist.com/2019/07/22/leadership-business-wisdom-29-19/#respond Sun, 21 Jul 2019 19:15:48 +0000 http://www.pakistaneconomist.com/?p=30736 Resource-Allocation Decisions The allocation of capital and people determine whether the organization will do well or poorly. The allocation of capital and performing people converts into action all that management knows about its business – they determine whether the organization will do well or well or poorly. An organization should allocate human resources as purposefully …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/07/15/leadership-business-wisdom-28-19/ http://www.pakistaneconomist.com/2019/07/15/leadership-business-wisdom-28-19/#respond Sun, 14 Jul 2019 19:15:07 +0000 http://www.pakistaneconomist.com/?p=30469 EVA as a Productivity Measure Until a business returns a profit that is greater than its cost of capital, it does not create wealth, it destroys it. Measuring total-factor productivity is one of the major challenges confronting the executive in the age of knowledge work. For manual work, measuring quantity is usually sufficient. In knowledge …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/07/08/leadership-business-wisdom-27-19/ http://www.pakistaneconomist.com/2019/07/08/leadership-business-wisdom-27-19/#respond Sun, 07 Jul 2019 19:15:28 +0000 http://www.pakistaneconomist.com/?p=30185 Information on Cost and Value We cannot achieve results until we have information on cost and value. Basic structural information is focused upon the value that is created for customers and the resources used to do so. The concepts and tools of accounting are now in the throes of its most fundamental change. The new …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/07/01/leadership-business-wisdom-26-19/ http://www.pakistaneconomist.com/2019/07/01/leadership-business-wisdom-26-19/#respond Sun, 30 Jun 2019 19:15:53 +0000 http://www.pakistaneconomist.com/?p=29916 Turbulent Times Ahead It turbulent times, the first task of management is to make sure of the institution’s capacity to survive a blow. In turbulent times, the first task of management is to make sure of the institution’s capacity for survival, to make sure of its structural strengths, of its capacity for survival, to make …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/06/24/leadership-business-wisdom-25-19/ http://www.pakistaneconomist.com/2019/06/24/leadership-business-wisdom-25-19/#respond Sun, 23 Jun 2019 19:15:58 +0000 http://www.pakistaneconomist.com/?p=29734 Rules for Staff People Unless staff people have proved themselves in operations, they will lack credibility among operating people and will be dismissed as “theoreticians.” Rules for staff people are just as important as rules for staff work. Don’t ever put anyone into a staff job unless he or she has successfully help a number …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/06/17/leadership-business-wisdom-24-19/ http://www.pakistaneconomist.com/2019/06/17/leadership-business-wisdom-24-19/#respond Sun, 16 Jun 2019 19:15:48 +0000 http://www.pakistaneconomist.com/?p=29461 Fundamental of Communications To improve communications, work not on the utterer but recipient. It is the recipient who communicates. Unless there is someone who hears, there is no communication. There is only noise. One can perceive only what one is capable of perceiving. One can communicate only in the recipients’ language or in their terms. …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/06/03/leadership-business-wisdom-22-23-19/ http://www.pakistaneconomist.com/2019/06/03/leadership-business-wisdom-22-23-19/#respond Sun, 02 Jun 2019 19:15:51 +0000 http://www.pakistaneconomist.com/?p=29230 Simulated Decentralization The main rule is to look simulated decentralization as a last resort only. Whenever a unit can be set up as a business, no design principle can match federal decentralization. We have learned, however, that a great many large companies cannot be divided into genuine businesses. Yet they have clearly outgrown the limits …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/05/27/leadership-business-wisdom-21-19/ http://www.pakistaneconomist.com/2019/05/27/leadership-business-wisdom-21-19/#respond Sun, 26 May 2019 19:15:25 +0000 http://www.pakistaneconomist.com/?p=28988 Federal Decentralization: Requirements As a minimum the unit must contribute a profit to the company rather than merely contribute to the profit of the company. Federal decentralization has stringent requirements. Federal decentralization is applicable only where a company can truly be organized into a number of genuine “businesses.” This is its basic limitation. As a …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/05/20/leadership-business-wisdom-20-19/ http://www.pakistaneconomist.com/2019/05/20/leadership-business-wisdom-20-19/#respond Sun, 19 May 2019 19:15:59 +0000 http://www.pakistaneconomist.com/?p=28830 The Federal Principle Federalism relieves top management from operating duties and sets it free to devote itself to its proper functions. What the enterprise needs is a principle that gives both the center and the parts genuine managerial functions and powers. This principle is federalism, in which the whole of the enterprise is conceived as …

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Leadership & Business Wisdom http://www.pakistaneconomist.com/2019/05/13/leadership-business-wisdom-19-19/ http://www.pakistaneconomist.com/2019/05/13/leadership-business-wisdom-19-19/#respond Sun, 12 May 2019 19:15:51 +0000 http://www.pakistaneconomist.com/?p=28580 The right Organization The only things that evolve by themselves in an organization are disorder, friction, mal performance. The pioneers of management a century ago were right: organizational structure is needed. The modern enterprise needs organization. But the pioneers were wrong in their assumption that there is – or should be – one right organization. …

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