What the MBA doesn’t teach you
You are rich now. You and your friends have completed the MBA at the best schools in the USA and you are now running you XYZ comapny in Asia because your schools taught you that during the next twenty years the Asian Lions will roar and all the Asian tourists will be most welcomed in the USA and Europe. Maybe the schools are right.
Before you run your own business concerns any where in this year, your most difficult job is to recruit the right people for the jobs. No doubt, your auditors will check every thing for you. They will confirm the accounts are correct every year. But do you know that many companies are having books showing a packet of Maggie mee costing $25.00 ? I checked up at the market and the correct tag was 25 cents per package.
Another company had to pay over $300 000.00 for one steel container ( those you see on board the ships. This container was about 2 X 2.5 X 3 Meters. Would you buy it for $10 000.00 ? This excessive price was considered normal and the bad apples were able to get away with it many times. The trick was the purchasers, senior managers and the HR are the cronies. If you are the engineer and you dare to question any thing, you would be out of job within 24 hours. Worse still, you may lose your life. One investigator went to audit an account in a foreign country. He was surely an honest person. He was found dead in a banana plantation ! No wonder many companies which should have made millions of dollars every quarter of a year are actually losing money.
Another way you could be cheated is for your company to pay for a contractor to have certain jobs done. The lump sum would be paid. But you will be surprice ( assuming you are smart enough ) to see that it was your own engineers, technicians and labourers doing the jobs which should have been done by that contractor’s crew !
Won’t you like to employ specialists to stop all these ?