Key Factors to Corporate Success: CONSTRUCTING ITS OWN BELIEF

Introduction

Numerous organizations had built its own name during the 1900, i.e IBM, but only few remained in glory through the years.

Corporations are expendable and that succcess - at best - is an impermanent achievement which can always slip out of hand.

Cause of Failure

One may speculate as to what causes the decline or fall of a corporation. Advancement of technology , modernization , changing preferences of the people , all play a part. But inspite all of these, some companies still manage to flourish while others in the very same industry may falter. Normally, we ascribe these diffferences to such things as business competence, market judgement, and the quality of leadership in a corporation. Each one is a vital factor. No one can neglect their importance.

What Contributes to Failure?

I believe the real difference between success and failure in a corporation can be attributed to how well the organization brings out the great energies and talents of its people. What does it do to help these people find common cause with each other? How does it keep them driving in the right direction despite many rivalries and differences which may exist among them? How can it sustain this common cause and sense of direction through the many changes which take place from one generation to another?

Beliefs for Success

These problems exist in all large organization, in political and religious institutions. Any great organization that lasted for how many years have found essence in its resiliency, not to its administrative skills, but the power of what we call beliefs and the appeal these beliefs have for its people. Any organization must have a sound set of beliefs on which it premises all its policies and action and must have a faithful adherence to those beliefs. In this dynamic world, inspite of the challenges that it encounters, it must be flexible enough to be able to change everything about itself except those beliefs as it moves through corporate life.

Conclusion

In other words, the basic philosophy, spirit, and drive of an organization have far more to do with its relative achievements than technological or economics resources, organizational structure, innovation and timing do. All these things weigh heavily in success. But they are transcended by how strongly the people in the organization believe in its basic precepts and how faithfully they carry them out.