Management Insight-2

Talking about first mover advantage, the classical examples are Microsoft in software industry and Coke in Beverage segment. They are renowned for accurately gauging what is going to be required next, what is going to be in demand in coming times and no wonder they are still numero uno in their respective segments. They have always managed to come up with new products befitting the concurrent demands. Talking in Indian context, Maruti and Hero Honda in automobiles segment, Infosys, TCS and the likes have managed to excel because of their first mover strategies. A good management never sits idle on its past laurels. It tends to endlessly strive towards improving its earlier performance and stay ahead of promising competition.

Likewise, fine-tuning itself within the organization is very important in context of today’s situation. A good management recognizes the needs and requirements of its employees. Most of the successful organizations reward their employees for their hard efforts. This helps them standing in good stead in the eyes of employees and at the same time it also motivates employees for better performance. No wonder, it has been found that employee friendly companies tend to perform better than its peers. Successful organizations also follow Delegation of authority and bottom-down management approach, which proves to be very important in enhancing employee’s self-esteem and efficiency.