Risk Takers Make The Best Managers

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As the Manager, are you taking risks?

Management in the modern context in the developed world has had to grapple with many changes. Most of the traditional management styles as preached by the management gurus are no longer relevant anymore.

How do you manage effectively in a work environment that is constantly changing?

Do your traditional skills still cope when markets evolve constantly, credit dries up, customers are taking fright and not spending, the Universities and Colleges are not teaching the right skills you need?

The list of modern day business woes continues ad nauseam.

Taking this constant change in the business environment into consideration, probably the most important skill a good manager needs to bring to the work environment is the ability to have the courage to take risks.

Any manager who is still trying to manage using old systems, works according to the book, abides by procedures as determined by a committee from a few years ago and who is not able to go for risky solutions will not be able to cope now.

Business is changing at such a rapid pace only managers who are able to adapt to the concept of change and stay many steps ahead will be able to perform well.

These are no longer the times for business as usual. Just making your product as well as the previous year, is not going to ensure you keep your market share or even continue to sell your product.

It is the managers task to ensure the company is constantly innovating, discovering new markets, improving products and services, being much better than the competition and listening even closer to what the customer has to say.

A whole new management style is required.

No longer are you able to dictate to the customer what she is going to want to buy. You will have to listen and ensure that your product is acceptable. You will need to initiate and nurture conversations with your consumer.

As a manager you will no longer be able to huddle in your little niche and fight to stop anybody taking your product, market and customer away. The world, with the help of the internet, has become an open trading place. Your mistakes are now broadcast to millions, your shoddy service is noted. In other words you cannot get away with complacency anymore.

At the same time your ordinary products are knocked off by businesses situated in countries with cheap labour and cheap exchange rates, at the drop of a hat. The competition is moving at the speed of light.

As a modern manager do you think you can sit back and wait and see what happens or do you need to get out and take risks?

The dilemma facing the modern manager is that the owners, whether individuals or thousands of shareholders of the business are determined to earn large profits. High risk management styles do not go hand in hand with predictable profit earnings.

Risk taking will be the present day manager’s main tool. Business right now requires this particular skill. Without it the business will not survive these changing times. The business world is facing major disruption and only those who can cope with this and take on board the advantages will be able to manage a business well.