The ABC of Management.........A2

Continuing with the Alphabet A.

I want to Assume that we are on the right track so far, thus my next A would be

ASSUMPTION.

Assumptions are dangerous when accepted as reality without thorough examination of the facts.
Although Assumptions are usefull in providing "Plan B" or "What if" Scenarios, and, for providing basis of action, to simulate different realities or possible situations---I still strongly believe

"Assumption is the mother of all Screw Ups".

Most Assumptions are made while drawing out "Business Plans" for a new venture where the architect of the plan most probably extrapolates from his past experience-which in the first place may or may not be relevant.He then forgets that assumptions are assumptions-A deadly recipe for a major Screw Up.One tends to forget the assumptions and starts to live the assumptions as a truth and alas believing in this "truth" may hurt the venture drastically.

One of the most deadly Assumptions i have come across-both in big and small businesse-is that the entrepreneur assumes(wrongly ofcourse)that motion or activity is growth,or worse still,is Success.

I, am presently running a small business of manufacturing Diamond Jewellery, and the most common assumption made by people in my line of business is that the customers expect you to have a factory,to have an expensive office,to entertain them lavishly.
Believe me, excellence in Delivery,in Quality,in Service,in Transparency and advantage in Price have overcome all the above assumptions or handicaps. Yes i have to sell a little bit harder but it is not impossible-not even difficult.

The way to minimise bad business decisions is to minimise bad assumptions.The best way to minimise bad assumptions is to stay constantly aware through constant analysis.(the next A)

Never Assume-- it makes an ASS of U and ME----Anon

You must stick to your conviction,but be ready to abandon your Assumptions.---Denis waitly.

ANALYSIS.

Analysis is the process of breaking down a complex topic into smaller parts to gain better understanding of it.
It is the examination and evaluation of relevant information to select the best course of action from among various available alternatives.

Business Analysis is the dicipline of identifying business needs and determining solutions to business problems.
The science of Analysis deals with how an entity (i.e. Business)arrives at an optimal or realistic decision based on existing data.
Analysis includes statistical analysis of past performance,with an eye to predicting improved business performance in the future.

There are number of techniques available for business analysis but the most widely used and one of my favourite techniques is the SWOT Analysis . I call SWOT as the quick fix remedy to various questions. I have used SWOT in business and also in my personal domain.

SWOT ANALYSIS.
Is used to help focus activities into areas of Strengths and the Opportunities arising from these strength. It is also used to identify the weaknesses and the threats arising out of such weaknesses
STRENGTHS: What are the advantages? What is currently done well.
WEAKNESS : What could be improved? What is done badly.
OPPORUNITIES : What good opportunities face the organisation.
THREATS : What obstacles face the organisation.

SWOT Analysis is an extremly useful tool for understanding the current situation in business and for decision making.

We need to continously and reqularly analyise our strategy, our growth trajectory, and our assumptions which were factored into our business plan. Analyise the result based on data and take corrective measures.

Get the habit of Analysis-Analysis will in time enable synthesis to become your habit of mind---Frank Lloyd Wright.


Having identified our AIM and developed the correct ATTITUDE after ANNALYSING our ASSUMPTIONS, I am sure we are AWARE of our present situation and our INTENT.We now know where we want to reach in the given time frame. Now is the perfect time to set in MOTION our journey to reach the goal in an AGGRESSIVE manner.

AGGRESSION

By AGGRESSION i only mean Goal oriented,planned and controlled Aggression.

Like most behaviours aggression can be examined in terms of its ability to help in achieving the desired result.

IBM urges its managers to cultivate aggressive and capable management. They promote Aggression in providing timely and excellent customer care.

Aggressive fighting for the right is the noblest sport the world affords.--Theodore Roosevelt.
Aggressive play is a vital asset of the worlds greatest golfers. However its even more important to the average player. Attack this game in a bold,confident,and determined way,and you will make a giant leap toward realising your full potential as a player.----Greg Norman.