skills / 2 posts found

What happens when management fails?

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The Art of Management

Capital efficiency

In principle at least, the main function of management is the efficient use of capital in everyday decision making. Managers have to satisfy three main beneficiaries of the company, namely the employees, bondholders, and the investors. Company employees benefit by earning a salary, while bondholders gain by receiving interest on their held bonds. However, both these beneficiaries are more concerned with short term gains, whereas investors, who are the residual owners of the company, are more concerned with long term gains. Investors receive benefit from the company by either receiving a cash dividend, and/or capital gains on the price of the stock.

Hiring for More than Skills and Knowledge

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It is a common mistake for the hiring manager in any company to consider only skills and knowledge at the interview. After all this is what the resume reflects, and job description describes. However, it is also common that after a few months, or even a few weeks from the hiring, it becomes apparent that the hiring was a mistake. This may be often too familiar, and often a costly mistake especially for small businesses. Therefore, what else should the hiring manager consider during the interview and screening process? It is missing two other factors: personal characteristics and motivation.