To understand business, one must first properly identify with business people. The mindset of today’s business person originates from their background, the most influential person in their life (a mentor), their learning process whether formally schooled or driven by work experience and their social and financial support structure. In each case, whether from the home of an employee, a manager or a business person, today’s business mind reflects the levels of risk-comfort.With an employee based background: Where one is guided to follow instructions involving repetitive tasks and routines, and be rewarded with and assured of a wage envelope. Learning is restricted to those areas that affect the job. Borrowing to support home and family and saving for retirement are the major financial concerns. Many success stories develop from this background by opening business based on their own skills and the work they have experience in doing (Auto Mechanic opens Repair Garage or Hairdresser opens Beauty Saloon), employing small numbers of staff to reduce their worries over meeting payroll and external (Accountants) professional services. This type of business person, can also be defined as a contract employee, is a low risk-taker and finds comfort in the respect given by associations as a result of a register business name.
With a management based background: One is encouraged to think and express an opinion as to bettering results and be justly rewarded. Formal training is in both a particular field of expertise as well as in general management and supervisory techniques to enhance work performance. Support is given by the organization to maintain a socially acceptable standard of living. Business people from this background have succeed via their working experience and networking skills (Civil Engineer winning a contract to build a bridge from their previous employer), employing only the staff necessary for executing that contract for the term of the contract and external (Lawyers) professional services. This business mind, also described as a project manager, is a moderate risk-taker and finds comfort in the respect given by peers as a result of successful project completion.
With a business based background: From birth one is prepared to lead and generate returns on investment for all the stakeholders. Educated both formally and through life experience to understand people’s needs and desires and how to do whatever it takes to generate profits. Planning is constantly ongoing to expansions and consolidations with other business grouping toward growing the family’s net worth. A life of business experiences are passed on to the next generation and with proper succession planning comes a smooth transition (having worked in each and every area, having attended numerous board meetings and review many business plans, having seen what works), employing loyal vested staff with a personal relationship in key positions and in-house (Lawyers & Accountants) professional services. This business psyche, also known as the godfather, is a high risk-taker and finds comfort in the respect given by all as a result of influence.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
