Lets say, you are part of a dangerous military combat operation. Suddenly, one of your team members with a mission-critical skill is injured or killed. Do you just pack up and go home? Of course, the army doesn’t have that liberty
But do corporations do?
Many organisations, where that one man is running the show as a ‘one man army”, run the risk of being debilitated by that one man’s exit
These are individual who possess a unique ability essential to the continued success of a business firm – a Steve Jobs for Apple or Bill Gates for Microsoft, a Jayalalitha for AIADMK or Mamata Banerjee for TMC
We saw a carnage on the Yes Bank counter . A 30% decline. Because, in the aftermath of the RBI decision, Mr Rana Kapoor has to go
And one wonders whether the organisation Yes Bank , whose shares have surged 25.5 times in about 13 years, will continue to be as effective without their co-founder-CEO
Similar are the concerns for an HDFC Bank without Mr Aditya Puri, an ICICI Bank without Ms Chanda Kochar and an Axis Bank without Ms Shikha Sharma
So, how do businesses that run under the shadow of their superstars prepare for life after them.
How would they thrive after the exit of the man who exercised supreme control and said ‘I-built-the-business-and-so-
In today’s times, businesses cannot run the risk of failing because they lose a key resource at a critical juncture. It’s essential to cross-train your employees so losing one won’t mean the end of your company
Maybe, one could take a cue from the U.S. Army that use a strategy termed as Composite Risk Management (CRM) as its primary decision-making process. The objective is to r identify and manage risk emanating from hazards that have the potential to injure/kill personnel and impact mission effectiveness.
What do you think?