Philosophies of Business Managers

IntroductionDifferent business schools have different variations to assess the motivation of business owners. The tool helps business owners and managers find the true reasons that drive their entrepreneurship. These motivations are known to govern the psyche that analyzes data presented to them for decision-making. Since, his/her personality also influences organizational culture, the leaders motivation directly affects how the business is run and how it is perceived by customers.Although, we express our feelings in various ways, researchers have summarized the driving motivations that govern these attitudes into seven categories. The categories may bear any names depending on the institution or version being used, but they all essentially derive from the classification developed at the Harvard Business School. The motivations are described as Autonomy, Power and Influence, Managing People, Financial Gain, Altruism, Intellectual Challenge and Variety.In the general business world, Autonomy is the number one reason that motivates people to start businesses. In the healthcare field especially in the developing countries such a drive is not a very strong reason. We get thrown into establishing our practices because of circumstances forced on us that need us to find a means for a middle class lifestyle. Ours will more likely fit into the Variety category for most people. This highlights the need for us all to recollect that motivations are individually biased, and we will still have people motivated by a need to be fiercely independent.Autonomously motivated business founders are solo businessmen who are wary of partners and significant investors that may dilute their influence in the business. The business runs around their personal interests and lifestyle; and is usually small-scale in size with growth being slow but determined.Business leaders who cherish Power and Influence do not care if they have a boss or not, so long as everyone recognizes their importance in decision-making that affects the directive principles of the company. They want to lead and are seen to be in-charge, even if they have superiors to stamp their viewpoints. Conflicts with partners who attempt to share the power sphere are not uncommon in order for them to assert their superiority and relevance in the pecking order.People managers are businessmen that will found a business just to satisfy the motivation of directing other people’s lives. This motivation was found to be stronger among younger men than even a need for financial gain. Maturity sets in with age though, from the zeal to have the power over other people’s lives to that of inspiring their wards and others. The advice is that these businesses do well as small-sized human resources related companies.Surprisingly, financial gain does not seem to be a strong motivational reason among business founders, and even so, it seems only important to men. Then, such motivations change with maturity and comfort levels to include the pursuit of other interests. Businessmen motivated by financial gains are able to accommodate partners and other types of investors. Many succeed when they handle the relationship pragmatically, but the loss of political control is price that comes with type of arrangement. Intolerance of new power sharing rules and negotiations in response to changes in the business terrain has caused businesses to fail.Altruism is the motivation when businessmen want to make a difference in the society through their commercial involvements. This type of passion was found to be more common among women in all age groups, in contrast to men for whom financial gain was more appealing. Later in life, when money becomes less of a worry, and men begin to think of their legacies, altruism becomes a motivational factor in their decision-making influence. Contributions to non-profit or socially responsible causes then begin to gain attention.Intellectual challenge and Variety as entrepreneurial motivations appear to be more strongly an elderly female affair. It seems that after proving their ability to run their businesses and take care of their children, who are by now maturing, women then consider the opportunities that challenge their mental abilities by pursuing knowledge or diversify their businesses.In either case, the key is to develop a secondary or back-up manager that can reliably mange the primary business while one is busy launching new special projects, or extending the current line of product offerings.ConclusionAs we aspire to leadership in any business or venture out into entrepreneurship it is important to have an accurate understanding of the character that determines company policy and business success for that particular business. We have been provided with background information for assessing available tools that can help in diagnosing the motivation and determinant strategy of various business environments.

Philosophies of Business Managers

IntroductionDifferent business schools have different variations to assess the motivation of business owners. The tool helps business owners and managers find the true reasons that drive their entrepreneurship. These motivations are known to govern the psyche that analyzes data presented to them for decision-making. Since, his/her personality also influences organizational culture, the leaders motivation directly affects how the business is run and how it is perceived by customers.Although, we express our feelings in various ways, researchers have summarized the driving motivations that govern these attitudes into seven categories. The categories may bear any names depending on the institution or version being used, but they all essentially derive from the classification developed at the Harvard Business School. The motivations are described as Autonomy, Power and Influence, Managing People, Financial Gain, Altruism, Intellectual Challenge and Variety.In the general business world, Autonomy is the number one reason that motivates people to start businesses. In the healthcare field especially in the developing countries such a drive is not a very strong reason. We get thrown into establishing our practices because of circumstances forced on us that need us to find a means for a middle class lifestyle. Ours will more likely fit into the Variety category for most people. This highlights the need for us all to recollect that motivations are individually biased, and we will still have people motivated by a need to be fiercely independent.Autonomously motivated business founders are solo businessmen who are wary of partners and significant investors that may dilute their influence in the business. The business runs around their personal interests and lifestyle; and is usually small-scale in size with growth being slow but determined.Business leaders who cherish Power and Influence do not care if they have a boss or not, so long as everyone recognizes their importance in decision-making that affects the directive principles of the company. They want to lead and are seen to be in-charge, even if they have superiors to stamp their viewpoints. Conflicts with partners who attempt to share the power sphere are not uncommon in order for them to assert their superiority and relevance in the pecking order.People managers are businessmen that will found a business just to satisfy the motivation of directing other people’s lives. This motivation was found to be stronger among younger men than even a need for financial gain. Maturity sets in with age though, from the zeal to have the power over other people’s lives to that of inspiring their wards and others. The advice is that these businesses do well as small-sized human resources related companies.Surprisingly, financial gain does not seem to be a strong motivational reason among business founders, and even so, it seems only important to men. Then, such motivations change with maturity and comfort levels to include the pursuit of other interests. Businessmen motivated by financial gains are able to accommodate partners and other types of investors. Many succeed when they handle the relationship pragmatically, but the loss of political control is price that comes with type of arrangement. Intolerance of new power sharing rules and negotiations in response to changes in the business terrain has caused businesses to fail.Altruism is the motivation when businessmen want to make a difference in the society through their commercial involvements. This type of passion was found to be more common among women in all age groups, in contrast to men for whom financial gain was more appealing. Later in life, when money becomes less of a worry, and men begin to think of their legacies, altruism becomes a motivational factor in their decision-making influence. Contributions to non-profit or socially responsible causes then begin to gain attention.Intellectual challenge and Variety as entrepreneurial motivations appear to be more strongly an elderly female affair. It seems that after proving their ability to run their businesses and take care of their children, who are by now maturing, women then consider the opportunities that challenge their mental abilities by pursuing knowledge or diversify their businesses.In either case, the key is to develop a secondary or back-up manager that can reliably mange the primary business while one is busy launching new special projects, or extending the current line of product offerings.ConclusionAs we aspire to leadership in any business or venture out into entrepreneurship it is important to have an accurate understanding of the character that determines company policy and business success for that particular business. We have been provided with background information for assessing available tools that can help in diagnosing the motivation and determinant strategy of various business environments.

ERPs and Other Business Management Tools

Enterprise Resource Planning – One of the most important factors for the proper functioning of a business is the internal and external management of company information throughout the organization. This would include all aspects of the company like finance, HR, supply chain management etc. All information under one roof makes it much easier to run the organization. This is where Enterprise Resource Planning or ERP comes in. ERP refers mainly to a software tool which can keep all this relevant data in a way that makes access much easier. There are many companies which offer this tool service. In today’s increasingly computer dependent business model, having an effective ERP is considered mandatory. These ERPs can be tailored specifically for the needs of a particular business. In fact there are different editions of the software available depending on the company needs – if the requirement is more towards finance, sales data or some specific line of business. Another company might require an all-encompassing ERP that covers all fields. ERPs can help make informed business decisions and increase the overall productivity. Other features are that they allow for real-time inventory management and financial consolidation, web-based professional services automation (PFAs) etc.Customer Relationship Management or CRM is a business model to manage the company’s dealings with all customers. Obviously this is a very important aspect of any business and having the right tools is highly essential. Keeping a track of all customers (both present and future) can be a difficult task without it. CRM software allow this data to be kept ready at all times and helps in a variety of ways. It can used to access different requests made by customers, make appointments with customers, marketing to selected customers etc. In fact, it also allows the entire organization to be in contact with the customer.Professional Services Automation or PFA is another tool that allows for streamlining and increasing efficiency of already existing processes. PFA software exist from small ones that can perform basic functions to larger more complex ones that are used by large corporations. It can help improve employee efficiency, prevent supply chain losses, help in better management of projects, estimate revenue of particular projects etc. This software also provides opportunities for simulation in resource management and allows for real-time changes in all variables.Most ERPs today offer all these different aspects of Business Management under one single software. It becomes an all-encompassing tool that can take care of all the management needs of all departments in the company. Definitely having one tool makes it much easier for to handle all the different aspects. There will be a cohesiveness and compatibility within the entire framework. Different software for different functions would make handling everything a major issue. Some companies offer ERPs with cloud computing capabilities so it can be accessed from any location.