Managers should lead with purpose; commit to the mission

“In the changed scenario, the biggest challenge for managers is to utilise resources effectively in order to compete and handle change,” and to “update their knowledge and communication skills to sustain growth” said Mr P. Raju Iyer, Treasurer of the Southern India Regional Council of the Institute of Cost and Works Accountants of India (ICWAI).

He was addressing students of the Sri Krishna Science and Arts College, Kancheepuram, at a BL Club event presented by Tata Photon.

Mr Iyer highlighted with examples how managers should learn to recognise and understand the driving forces, the characteristics of business models, the key issues for success and the challenges faced by organisations in updating their knowledge. Communications and soft skills training are essential for management students.

Mr Iyer said on the road to leadership personal bias has to be relegated to the back seat in order to meet one's corporate priorities. Managers should lead with purpose, commit themselves to the mission; once committed they should set clear operating standards and live by them; they should surround themselves with people who believe in and are committed to his or her mission and standards. Mr Iyer stressed that management students must have perseverance. The reason most people never achieve their goals is that they don't define them, learn about them, or even seriously consider them as believable or achievable. “The difference between the problem and opportunity is attitude,” he said and stated that the more we look at problems as opportunities, it makes it more exciting to solve them.

Mr Iyer wanted the students to emulate the example of the ‘ant' which can carry more than its weight, saves food in the summer for the winter and at the first opportunity (sunrise), surfaces and gets active. If kept in a closed area, it would keep trying to come out with fortitude.

Managers should contribute to society by using resources judiciously by creating value. Management students should learn how to create value with little or no capital, with little or no information and with little or no experience and inspire people without money, motivation or options.

Mr Iyer emphasised the importance of managing talent in the information economy that is powered by the human capacity to create value and where talent is the fuel of the human capital engine. Mr Iyer cited numerous examples of organisations that have implemented best-in-class talent management practices and they need to learn from each other and contribute to the larger purpose of talent development.