Seven modern management misconceptions

Think of how much the world and people in it have changed since.

The result?

Many lingering misconceptions that can lead to problems in today's high-paced business environment.

People need to be controlled and managed.

People do not like to be controlled. They perform much better when led and inspired by visionary leaders.

Most people only work for the pay.

While money is an important factor, even more important are feelings of fulfilment, appreciation and satisfaction.

Decisions should be made only at the top. In today's highly competitive reality, empowering your front-line staff speeds up the process and assures greater customer satisfaction.

One can copy what works well for another company or culture with equal results.

No one system fits all. Every system has to be adapted to suit the organisational culture and situation. Adaptability is a key factor to success today.

The only acceptable goal is 100-per-cent perfection.

An impossible and unsustainable goal. A better approach is incremental and consistent improvement. Everything can and should be constantly improved.

Most people commit to a company for a full career.

Recent statistics show most people will change jobs several times during their career.

People should be punished for making mistakes.

People should learn from their mistakes and not repeat them. Human beings make mistakes. The first time, it's a mistake. The second time, it's a bad habit.

There are many emerging management styles much more in tune with the changing expectations and abilities of today's worker and business environment.

Consultants such as Stephen Covey and I have been leading this new industrial revolution for years and it's finally catching on.

Dr Bill Gould

Human Resources director,

Wall Street Institute, Thailand

www.wallstreet.in.th