The recent economic depression has been a great churner of ideas about causes and outcomes of the depression. I believe that every failure is the chance to learn some tough lessons of life and we need to make sure that we don't repeat that mistake again and again.
Lehman's demise is one such incident which has given a lot of lessons to be taken by the people in Biz and Management. Primarily it proved again that greed is always harmful. BW recently listed down the 10 important lessons we should learn from Lehman's demise. Quoting the important ones here
Executives who are preoccupied with their company's daily stock price or consumed with quarterly earnings targets don't make very good stewards of the enterprise.
Tying individual compensation to short-term gains only exacerbates the problem.
People don't like it when those who've exhibited the worst cases of managerial myopia get filthy rich in the process.
High profits don't necessarily mean that you're producing anything of genuine value.
Moving money around isn't the same thing as producing actual goods and services.
When you buy and sell lots of assets at prices that are considerably higher than the underlying value of what's being traded, the run-up can't possibly last.
As long as human beings are in charge of our major institutions, this won't be the last crisis we see.
So what can we applicants take from these lessons. We can stop and reflect on if we are really ready to do an MBA at this juncture of time. But I think this can be a interesting and rewarding time to do an MBA. We can be a part of the regrowth phase when we enter the business world after an MBA and most importantly we can do things in right way by learning all these lessons.
--
0 comments:
Post a Comment