Management Concepts: Reality Or Myth

Management concepts always fascinated me. I always envied the MBA grads until I completed my Executive MBA. I went through a lot of case studies and concepts, which were based on the actions or activities performed by the organizations due to which they were successful. Many a times I found out those companies who out performed faded out in the long run. I was skeptical about the studies, which were made and the publications, which glorified their existence. When I wanted to make a point I could not rely on the studies that was published to justify management concepts. I consoled myself that a lot of activities and decisions that are made can give success and may be in the long run few decisions can matter in terms of defining the existence. The activity and decision, which gave the company, the cutting edge may be kept aside and not mixed up with the overall failure of the organization in the long run.

As we all know, success and failure depend upon a lot of factors and sometimes are out of the reach of the executives who take decision for the organization. The organization can have a great strategy and the strategy could be followed extremely well but still success can be something more than the strategy because an organization without a strategy can also become successful. Product differentiation, value proposition and cutting edge technology may give you a position in the market place, but may not be sufficient enough to become successful in the market place. I was fascinated by the quote provided by the representative of one of the venture capital organization who said that the companies are successful because they resolved their problems better than their competitors. It is as simple as that. An example of organization’s success is not enough if the other organizations just imitate because the result has many contexts, which may not suit to the organization that is imitating.

I always thought of starting my own organization and a dear friend of mine told me that 20% of organizations only succeed. I thought that was a great encouragement. There were many organizations that made profit after 10 years of existence. It always made an impression in my mind and made the perspective of business when the long-term was always the first priority. The organization may be doing great for the time being, but it’s existence will only depict when it sustains its success for a longer period of time otherwise the success looses it’s value. Every organization wants to be a success, but the only aspect is to take the right approach the right time at the right place. I do not believe in luck rather I believe in hard work. I believe in the solution that suits the long-term survival of the organization. I believe in the road map and do not believe in imitating successful organizations’ strategy.

This makes me harder to do a case study to define the management concepts. May be I will define the concept based on the success story now and contradict it in the future. That is the reason why the concepts change so rapidly and everybody wants to know the latest management concept. Nobody can see the future and can predict the result of the action or decision that will bring in future. That is why I am very safe if I imitate the successful strategy.