Business philosophy implemented in life!... pen

By Sudhir Kumar Ghosh

While I was doing MBA I was taught about the ‘Seven audiences to businesses’. As per my interpretation of this concept, a business firm has to face and respond/communicate and held liable towards the seven audiences each with a certain significant role to play in the survival and proliferation of a company.

I assume that most people know these seven audiences, their roles and expectations still for the layman to understand I am typing.

The seven audiences, their roles and expectations are-

1. The capitalist: Who provided capital at the time when business came in to existence.
Expectation with respect to Firm : Business should always grow and in times to come take care of me and my needs.
What firm should do? : Keep him abreast of all developments and progress.

2. The Share holder/ stake holder : Owners of business.
Expectation with respect to Firm : Firm should give good ROI. They are willing to take risk as well as returns more or less equally.
What firm should do? : Firm should timely provide dividend or keep re-investing their gains for the better growth of business and maximum returns in future.

3. The Investor: Who invests in the business with a view to get high ROI may/may not be an owner.
Expectation with respect to Firm : not willing to take loss on investment. Will probably run away with their money if they realise...the business is in trouble.
What firm should do? : Never lose investor confidence. Provide timely ROI, give them what was promised to them for their contribution and maintain good will.

4. Peers: other companies/competitors.
Expectation with respect to Firm : They watch every step what the firm is doing in business...would probably take action in order to counter or diminish any move taken by the firm for getting market share or gain control in the industry.
What firm should do? : Make sure to surprise peers and critically analyse every move for any drawback before going public.

5. Government: Regulates everything in the industry, would take punitive step if a firm does anything illegal/out of regulation or government guidelines for the industry.
Expectation with respect to Firm- Firm should be on right should abide the regulations and pay taxes timely.
What firm should do? : Never get caught doing wrong practices and always be in ‘good books’ of the authorities/government and legal eagles.

6. Media: Provides information/ entertainment /News to whole world.
Expectation with respect to Firm- Firm should provide information valuable to media and its target readers/ give media special attention and favours.
What firm should do? Use media for positive publicity. Never spoil terms with media.

7. Society: people in general. All who may or may not be in the first six categories and are somehow influenced by what the Firm does.
Expectations with respect to Firm- Should benefit society with better quality products, services and other ways.
What firm should do? : Keep contributing to society by performing ‘Corporate Social Responsibility’. Always keep a fair and honest image.
Life too can be run as if it were business!!!

From my own realisation and enlightenment I believe the same concept can also be applicable to life. Where an individual assumes the role of the ‘FIRM’ and can ‘run the business of life’ by keeping the following seven audiences happy.

1. Capitalists in your life: Your parents.

Role:they gave you birth. They made valuable material / immaterial investment to see you grow and prosper. They themselves got into trouble to make you smile.
Expectations with respect to you: You should always take care of them when they need you. You should keep them updated with various events happening in your life. And that you are always prospering and doing well. They want to take pride in you.
What you should do? - Always give them the picture that you are prospering and you are in control of your life and that you are making astounding achievements. If you tell them your troubles big or small they will grow sad and worried. Might think you are still too young to take decision and run your life smoothly.

2. Share holders in your life- Friends and family (those who like you and admire you).

Role: Material/ Immaterial support/help all times. They even get troubled while helping you. You can share joy as well as sorrows (Profit/loss) equally with them.
What you should do? : Always be fair to them. Acknowledge their importance and never give personal ego more importance over heart and emotions wherever there is any dispute. Be flexible to them as they too are most flexible among all audiences.

3. Investors: Relatives, distant friends, acquaintances, Employers, clients, Partners in your business. Especially members of the opposite gender like lovers/life partner/ that ‘special one’ and the In-laws.

Role: They may entertain you, help you, provide company, fulfil emotional needs or provide other support. This kind is least willing to share losses because of you/Most critical unless they are really mad after you.
Expectation: you should always make them feel better and keep them entertained in the way they like. Natural Instinct of ‘finding a mate’, force living beings to evaluate
and judge members of opposite gender critically. Hence chooses to invest time/energy/resources etc wisely and expects high ROI from relationship. They will criticize you or even leave you if they find you no longer fit to what they expected from you.
What you should do? If they like you it’s because you have impressed them in one way or the other! If they are investing their time and resources on you it’s because they like. Try to be in their ‘good book’ always if you want to keep receiving ‘favours’ as per your preference. If they don’t like you try to attract/entertain them without losing yourself self respect and grace. No need to lie, but try to avoid informing them the ‘truths’ that may tarnish your image in front of this category or make you less attractive in comparison to your peers. Never lose investor confidence at any cost!!! Else they will dump you.

4. Peers- All those who compete with you or those with whom you are compared with. Belong to your age/profile/ and form a part of your Organization/family/neighbourhood.
Role: form a part of your society you may or may not be comfortable with.
Expectations: they might try to prove themselves better than what you are.
What you should do? : prove yourself better than them by hook or by crook. Appreciate them when they are praised even if you don’t like them. Don’t forget to brag about yourself and your achievements every time you are negatively compared with any of your peers by members of any category.

5. Government: Almighty God!
Role: cannot be put into words.
Expectations: You do the right karma and make positive contributions to the world you belong to.
What you should do? : be thankful to GOD, help animals/needy and stop harming mother earth with your actions. Don’t spread dirt and diseases. Every time you feel you are lucky
and blessed- make some donation/ make someone else happy and thank god. If you forget GOD and do a ‘Bad Karma’. GOD will tax you in the ways you can never even imagine.

6. Media: any person in you society who is very popular, gets a lot of attention and are favoured by many, can be identified as the ‘Media’ who can influence your business.

The person may or may not take up the role of Media. They are most resourceful people. They have excellent public speaking skills and can persuade any one to get any favour.

Role: they are the opinion leaders. Source of gossip and information. They are in a habit of befriending people by entertaining them with gossip and information in return of personal favours.
Expectations: They are used to get a lot of attention and expect that you should give them some attention and entertain them specially.
What you should do? : Give them a little of attention in the name of diplomacy. If you fail to appease them they will ‘Bad mouth’ against you and you will not even a get a chance to prove your mettle. Use them as your ‘Advocate’. Never give them any opportunity to criticize you. Never be vulnerable in front of them. Guard your private life from their vulture eyes.

7. Society: remaining people in your society, whom you may never even notice. However they may secretly watch you. They may be having a positive/negative association with you.
Role: Source from where you may derive audience of all category or just a miscellaneous crowd.
Expectations: They want to get your attention and may expect benefits.
What you should do? : Smile to most and be helping as long as you are not nagged, troubled or burdened by them.
All the Best...Now Manage your audiences effectively and realise positive results in your business...

Sudhir Kumar Ghosh aka MAXSUD




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