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Keys to Corporate Excellence

         ‘We are what we do repeatedly,
excellence then is not an act but a habit’
– Aristotle

Great organisations thrive on good practices, sound governance models and learning. Learning organisations become resilient to changes besides remaining as models to employees and stakeholders. Excellence does not come about with half hearted efforts and just compliance. An organisation is as great as the people in it are and people are as great as organisation allows them to be. A study of what enables organisations seek the peak and what inspires the people excel personally and professionally underscores the following six ingredients of excellence.

  • Managing growth
  • Developing global mindset
  • Nurturing talents and retaining the same
  • Understanding Financial Management    
  • Institutionalising creativity and innovation
  • Encouraging employees to seek out cross-sectional knowledge

The management students of today are the corporate managers of tomorrow.  Among the above six ingredients of corporate focus and leadership, the fourth one namely  ‘Understanding Financial Management’ is the universal requisite for management students. Whatever may be your specialisation, basic grounding in accounting and finance is a must. If you are not  able a understand a simple balance sheet and converse on the content, it would be difficult to pursue corporate career. Money matters everywhere and more so in business. To know the impact of your work and decision on financial position is critically important.

Fortunately students in other streams of specialisation could have access to basics of financial management either by going through simple lessons available in the net or by taking a couple of courses. If you want to have a sound grip on fundamentals of  book keeping  and accounting, please make it a point to study a  book namely, ‘ Accountancy: Eyes, Ears, and Mouth of Business’ by B S Raman. It is a prescribed text book for first year Pre- University course but don’t you ignore just because it is of P U Course. I teach Accounting for PGDM students and I have often suggested my students to take recourse to this invaluable book.

Nitte School of Management, Bengaluru, one of the leading B-Schools in Bengaluru, encourages students across the specialisations to have ‘Awareness Knowledge’ in subjects across the board. In my next blog I will touch upon Economics and share how you can go about building your basic muscle.

Dr. N J Shetty,  Professor, Nitte School of Management, Ph.D., M Com, MBA, MA( Psy), LL B, CAIIB, D TD, PG DHRM, PG DMM,  Pragya,   Certified NLP Practitioner, Certified Life Coach, Certified  OD Coach,

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