What was there in the Mahabharata- one of the greatest epic written more than 5000 years ago stands true today too- ‘business as usual’. Management, leadership, profits, technology, cut-throat competition is all we talk about these days. In every business, the management i.e. the workforce is the fundamental part and there are steps to form the management. Organizing the management is a carefully worked out and applied process.
- Plans and objectives: The management consists of team individuals who should be aware of what they have to do in the organization. The whole process of organization should be chalked out to avoid confusion, frustration, loss of efficiency, and limited effectiveness. Objectives and plans need to be formed to achieve goals and be diligently performed by the managers.
- Business activities: Once the plans and objectives are formed, the activities that are necessary to accomplish these objectives needs to be determined. The managers merely list and analyse all the tasks that should be performed to reach organizational aims.
- Departmentalization: A manager can form a hierarchy to group activities based on four models of departmentalization: functional, geographical, product, and customer.
Functional departmentalization divides the labour according to their area of expertise. For example: accounting, sales and marketing, human resources departments.
Product departmentalization divides the work according to producing particular products and services. For example: lighting, aircraft engines, plastics, television etc departments.
Customer departmentalization organizes workers in units for particular kinds of customers. For example: travellers, investors, businessmen etc. Geographic departmentalization divides people according to particular geographical areas like in different countries. For example: Coca Cola has two groups: North America and Europe. Within each region, the company further divides itself in countries (sic.)
- Perseverant leader: After the workforce is assigned their specific tasks in the organization, they give an authority to an individual leader who will see that the work is done in its right form.
- Organizational Structure: The vertical relationship includes decision-making and horizontal relationship includes coordinating at several levels of management to reach the goal of the company.
Citing the example of Mahabharata that I mentioned about in the beginning of this article, Mahabharata is nothing less than a management bible for various businesses.
a king can easily cross the oceans of the world with kingly duties as his boat, urged on by the breeze of gifts, with the scriptures as the tackle, intelligence as its helmsman and kept afloat by the power of righteousness.
Every individual working in a company has an obliged duty to be responsible, true to his work and cleverly contributing in the profit of the business.
victory acquired by battle is very inferior. A king should acquire a large army consisting of four kinds of forces: infantry, cavalry, chariot and elephant warriors. But he should first seek to accomplish what he desires through peace.
The management should form tactics to beat its competitors and do that with peace and intellectual attitude.
Kingdoms in which anarchy prevails cannot exist. They are afflicted from without and the inhabitants devour one another. No one should dwell in a kingdom torn by anarchy. A king should, without doubt, look upon the subjects as his children. In determining their disputes, however, he should not show compassion.
In the same way, the managers should know their subject matter i.e. the goal of the company and how will they accomplish this vision.
In his court, the king should have preceptors and mighty bowmen, persons skilled in architecture, astronomers and astrologers, physicians and men of wisdom and learning. Like the tortoise protecting its limbs by withdrawing them into its shell, ministers should protect their own counsel. In all matters of importance, the king should appoint persons who have their senses under control.
Similarly the department leader needs to check how the tasks are being carried out and mentor them whenever the management needs their consultation.
A king who is mindful only of the means of acquiring profit never succeeds in acquiring either merit or wealth. The treasury is the root of felicity in heaven and victory on earth. The one with the profit motive alone can never acquire either wealth or merit. If desirous of prosperity, a king should adopt all arts—humility, conciliation, bowing his head, inspiring hope and the like.
Likewise finance is the prescription that is essential to carry out a business and transform into a successful venture.
Hence, the management of a company is the life and blood of a business and organization of a management is thus very vital for and after forming a business.