Development of Compensation System
Compensation system involves the total rewards that are given to the employees for the labour and services they provide to the organization. Compensation includes direct monetary benefits as well as indirect monetary benefits. Wages and salaries form the direct financial benefits that an employee receives from his or her company. Besides, wages and salaries, bonuses […]
Selecting Critical Business Process for BPI Projects
Using Business Process Improvement as a tool to improve internal efficiencies and to bring about the desired changes in business operations has become an accepted practice in most of the Organizations. At a time where the life cycle of products and businesses is becoming shorter and fast changing in line with changes in technology and […]
The Power of Technology Firms over Our Lives
The Persistence of the Digital Divide The advent of the internet revolution raised hopes that there would be an egalitarian society where free sharing of information and knowledge would eliminate the uncertainties and the power of gatekeepers of knowledge by making it free and easy to search and find. Further, there were hopes that the […]
BCG Matrix – Meaning and its Limitations
Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio on the basis of their related market share and industry growth rates. […]
Marketing Mix Analysis for Entry of a Microwave Maker
Introduction This article is about how a multinational corporation is attempting to enter an emerging market like China or India and how it must position itself to capture the hearts and minds of the consumers. The multinational can be any of Samsung, Haier, or Bosch kind of companies that are now reaping the advantage of […]
How often we hear of business leaders and CEO’s who have just taken over proclaim that they would undertake radical change in the first 100 days?
How often do we also hear politicians and other personalities promising the moon within the first 100 days?
Of course, we don’t get to know how many of these changes have transpired in reality since by the time the first 100 days are over, we would have moved on to other matters.
The point here is that in this 24/7 culture of constant change, the temptation to set ambitious targets to achieve the goals within a short time is indeed something that even the most realistic of leaders cannot resist.
However, there is a certain limit to which such announcements and agendas for change can be actualized as real world problems, be it in business or governance, are hardly going to be solved within short periods.
The misconceptions surrounding the first 100 days achievements for change and realization of goals should be rightly called so as it is often difficult to actualize change within such a short period of time.
For instance, it takes time to build a team that would be in consonance with the CEO’s vision and mission. Often, building a team with those who are comfortable with the CEO and vice versa takes time.
Next, the on the job performance of any CEO cannot be measured within the first 100 days as the lingering issues from the past leaders or the previous CEO would continue to cast a shadow over the CEO’s performance. Though in politics, it is easy to blame the previous dispensation, it is not often the case that we hear CEO’s blaming the previous management since there is certain continuity in the business world in the transition process.
The other aspect or the myth is that CEO’s can get down to business the moment they take over. It takes months and even years of patient effort for the fruits to ripen and show results and hence, new CEO’s often have to prove their mettle. This means that they need to have an extended run in their position for them to actualize change.
The reason for the 100 days myth is that business leaders like politicians have a “honeymoon” period once they take over where their employees and constituents are willing to tolerate them during this time and hence, give them a breather before they become demanding.
Therefore, it is often tempting for the business leaders to set ambitious targets for the first 100 days. Without discounting the importance of this imperative, it needs to be mentioned that having unrealistic expectations from the new CEO would be self-defeating.
Finally, change is glacial and the profound slowness with which change is actualized means that there has to be a mutual communication between the CEO and the employees that is grounded in base expectations and is contextual in nature. Only then would the floors of the company not be littered with the broken glass from the ceilings of euphoria and hyperbole.
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