MANAGEMENT TRAINING TEAM LEADERSHIP

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Wednesday, March 12, 2008
The Competitive Advantage of Management Training

We received an email from a reader of our newsletter the other day. We want to share part of it with you because it points out how broad a positive impact excellent management training can have on your business.

Our reader wrote:

“I deal in wholesale and retail pharmaceuticals. My company employs 20 people. My responsibilities are to see to
the day-to-day activities of the business; i.e.. purchasing, supplies,
business development and acquiring financing for growth.

My main challenge is that it is tough to get funds to help grow my business and this is made even more difficult because the pharmaceutical market is really choked.”

On the surface his main challenge of finding financing for growth does not appear to have a direct connection to management training or leadership styles. But, there is actually a strong connection.

Finding financing is always a challenge. Financiers are looking for well-managed companies that have something special about them that their competitors cannot duplicate. Excellent leadership skills and on-going management training will differentiate you from your competition.

Many executives do not understand the powerful impact that great management development can have on their business’ success. But, the leaders that get this connection and implement it can gain a tremendous competitive advantage.

This advantage shows itself in better performance from your people leading to better business results. And most importantly, because your people are more motivated they will perform well over the long term.

We encouraged our reader to begin to implement some of our leadership perspectives in his business. Then, when talking to finance companies or individual investors we suggested he reference
these leadership practices as part of his presentation. Talk about how this puts his organization ahead of the competition and positions the business to be successful for the long term.

We encourage you to look at management training as more than a tool to better handle your internal responsibilities of leadership. Look at great management development and the leadership skills it provides as a “secret weapon” against your competition. They won’t know what hit ‘em!



Posted by Rob Linn and Rich Ottaviano

Writers have mentioned the problem of paucity of fund, underscoring their significance in the growing competitionin the pharmaceutical industry. WEe aren't aware of the level of management which the writers come from, nor are we aware of the fact whether they are or aren't conversant with the overall objectives of the unit they come from. Funds & trained /skilled human resource are precious resources in real term; and evidently the management has to prioritise their requirements in terms of the organizational goals; which sometime are hazy & vague to the middle or lower management level due to their total involvement in the field of sectoral development.
Jameel Zaidi