Firing People

Is firing people wrong? Depending on the circumstances firing a person or a group of employees might be necessary for an Entrepreneur.

A continually poor performer in any enterprise becomes a liability to the other team members and the organization. If there is no change in the employee’s performance after repeated attempts to improve it, it would be wise to part company. Similarly if a third-party service provider does not consistently provide excellent service there is cause for firing that provider.

In a broader sense, for the survival of a company and a majority of its employees if a few employees have to be let go (after all other options have been exhausted), it is most often the right thing to do. As Spock used to say in Star Trek, .. for the survival of the many, a few have to suffer.”

Firing people for spite, revenge, uneconomic, or irrational reasons is never appropriate, but letting go of people for the right rationale is not necessarily wrong.

Ravi Patel

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Survival of the Fittest

Entrepreneurs can learn from the law of the jungle – “survival of the fittest.”

Entrepreneurs must find ways to survive in any economy and business climate. Having the best product or service, superior management, strong processes and so on are not the only things necessary for survival.

Imagine the cheetah – the fastest animal on earth. However if not alert, a lion or other predator will devour the cheetah. Being fast would not help then.

Having the best of everything is not sufficient for Entrepreneurs. Survival requires being alert, adaptive and quick to react to the changing circumstances. Relying on one’s past successes is not adequate for survival in the future.

Being fittest in this environment does not necessarily mean being the best. It requires having “street-smarts” to navigate through these troubling times.

Are you fit enough to survive?

Ravi Patel

http://www.patelCFOservices.com

 

Published in: on August 22, 2017 at 3:53 am  Leave a Comment  
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Is Firing People Wrong?

There seems to be a lot of controversy in the Presidential primaries regarding Romney’s much publicized out-of-context remark that he likes firing people.

Is firing people wrong? Depending on the circumstances firing a person or a group of employees might be necessary for an Entrepreneur.

A continually poor performer in any enterprise becomes a liability to the other team members and the organization. If there is no change in the employee’s performance after repeated attempts to improve it, it would be wise to part company. Similarly if a third-party service provider does not consistently provide excellent service there is cause for firing that provider.

In a broader sense, for the survival of a company and a majority of its employees if a few employees have to be let go (after all other options have been exhausted), it is most often the right thing to do. As Spock used to say in Startrek, .. for the survival of the many, a few have to suffer.”

Firing people for spite, revenge, uneconomic, or irrational reasons is never appropriate, but letting go of people for the right rationale is not necessarily wrong.

Ravi Patel

www.patelCFOservice.com

Survival of the Fittest

The law of the jungle is “survival of the fittest.” This law applies to Entrepreneurs also.

Entrepreneurs need to find ways to survive in this economy and business climate. Having the best product or service, superior management, strong processes and so on are not the only things necessary for survival.

Imagine the cheetah – the fastest animal on earth. However if not alert, a lion or other predator will devour the cheetah. Being fast would not help then.

Similar having the best of everything is not enough for Entrepreneurs. Survival requires being alert, adaptive and quick to react to the changing circumstances. Relying on one’s past successes is not adequate for survival in the future.

Being fittest in this environment does not mean being the best. It requires having “street-smarts” to navigate these troubling times.

Are you fit enough to survive?

Ravi Patel