Introduction

Research Background

Organisational effectiveness as well as performance can be noted to be linked in a direct manner with that if management styles as well as leadership styles which seek on utilising all available opportunities. Successful organisations undertake exploration of markets by way of business processes which aids in creating competitive advantage for allowing the organisation in competing as well as performing in a better manner as against other various organisations. The organisations which possess higher levels of success are noted to be established by range of philosophical, leadership and management notions which shall guide these manner in which these organisations shall run their activities (Pasillas & Lundberg, 2019). In the global environment which is ever changing, the organisations that can survive turbulent economic times alone along with superior form of business strategies can guide the manner in which they shall operate successfully.

It has been noted that that the organisations of these nature shall be established on specific philosophy which shall effectively understand needs concerning the employees as well as the customers who are served by them (Pasillas & Lundberg, 2019). The same shall mean that they shall be composed of effective leaders who shall devise and establish strategies for accommodating all of the needs relating to the employees for ensuring that the same shall translate to products as well as services in that these employees offer to customers (Pasillas & Lundberg, 2019). The same shall be defined to be competitive advantage using management terms as the same allows concerned organisations in managing the overall environment in which they operate.

In this context, this report presents an analysis focussed on the business success of Carlos Slim by way of assessing the reasons with respect to business concepts, style of leadership, business philosophies, patterns in employee management and power type which exists at the organisation.

Pragmatic Rationale: Slim’s Philanthropy

By way of philanthropy, it is noted that Carlos Slim developed better relationships amongst the various stakeholders as well as communities, and also established informal form of partnerships amongst such groups for making sure that concerned community had an appreciation for the various things which were undertaken (Osorno, 2019). The same has made the relationship in-between business as well as the relevant community to be trustworthy and also more credible. By way of these initiatives, overall prospects concerned the business was supported in the longer term at the level of community (Osorno, 2019). The same allowed the business in accounting for wider spectrum in people whom it deals in varied matters. These initiatives of philanthropy, can be implemented along wide ranging stakeholders for making sure that the business related practices was highly acceptable. The same can be linked with four pillars in social responsibility, that is, (1) economic, (2) ethical, (3) legal as well as (4) discretionary responsibility. The discretionary practices enables the business owners for easily giving back to communities which had made contributions for their success (Osorno, 2019).

Strategic philanthropy represents a novel strategy for management which has been employed by numerous organisations for penetrating a society by way of delivering philanthropy to seek business benefits (Gonzalez, 2014). While the organisation offered support to needs of the employees for buying computers by allowing them for deposits for computer while they pay telephone bills, the same represented business initiative of strategic nature for benefiting from society. Further, later on the company initiated sale of computers once the employees acquired computers. The stated method to link resources in an organisation to varied partners in ground represents the shift from that of volunteerism towards community needs focussed sharing as well as bringing in community closer towards business initiatives (Gonzalez, 2014). Hence, philanthropy represents a target of strategic nature to increase the business process as well as community acceptance.

Carlos Slim’s Business Principles for Success

The key business principles employed by Carlos Slim and the same which guided the employees of his company every day, as well as forms the critical reason for continued success include the following: [1] At all times, having simpler form of organizational structures and hierarchical levels of minimal nature, providing support as well as in-house development for executives, maintaining flexibility as well as faster capability for decision-making, and working with advantages of smaller-sized company (Moroney & Dieck-Assad, 2017), [2] Maintenance of austerity during the good times for strengthening, capitalising and accelerating the overall organisational development, and averting any drastic and bitter adjustments that shall be needed during any unexpected crisis or turbulence (Moroney & Dieck-Assad, 2017), [3] staying focused over modernisation initiatives, training, growth, quality, continuous improvement as well as simplification in the production processes, increasing competitiveness as well as productivity, reducing costs as well as expenses, and judging performances on the basis of global benchmarks (Moroney & Dieck-Assad, 2017), [4] companies at all times should not be limited on account the size pertaining to owners or else managers, and there should be a minimisation in the investments made on assets that are non-productive (Moroney & Dieck-Assad, 2017), [5] there shall be no challenge which the leader and the organisation cannot overcome when they all work in an united manner, and possess clear vision with respect to goals as well as developing effective know-how on required tools (Moroney & Dieck-Assad, 2017), [6] money which shall leave the company shall evaporate, and hence reinvestment of the profits shall be crucial, [7] corporate creativity shall not just be applicable for business, and same shall in addition be useful for solving various problems of the society, and the same is what done by way of the company’s foundations (Moroney & Dieck-Assad, 2017), [8] firm as well as patient form of optimism shall at all times lead to rewards, [9] All times shall be good times to those who shall know working hard as well as have required means for doing so, and [10] the premises shall as well as at all times been one that left with nothing, and one just do things whilst one is alive and entrepreneurs represent the wealth creator which is temporarily managed by them (Moroney & Dieck-Assad, 2017).

Conclusion

It shall be evident in that leaders possess different set of abilities which shall be critical for the overall success concerning an organisation. The leadership approaches which exist in an organisation shall be on the basis of leadership style which the concerned leader shall believe in. The leadership styles shall not be specific and yet be varying as well as unique from one situation to the other. Leaders possess the ability for influencing others in following them by way of transference as well as in establishing the culture which shall meet these needs of concerned organisation. The specific success noted with respect to Carlos Slim is not just on the basis of establishing unique style of leadership but by way of using range of different strategies for leadership which had been applied in accordance to situations which existed. As it can be noted from the analysis and discussion presented in this report, the leadership illustrated by Carlos Slim entailed a combination spanning different styles of management as well as leadership which had been merged together for the development of best strategy.

References

Gonzalez, L. E. (2014). Management, Leadership and Entrepreneurship in Latin America.: The New Land of Opportunity-the Real Leaders in the Global Economy. AuthorHouse.

Moroney, J. R., & Dieck-Assad, F. (2017). Slim, Carlos. Modern Mexico, 110.

Osorno, D. (2019). Carlos Slim: The Power, Money, and Morality of One of the World’s Richest Men. Verso Books.

Pasillas, M. R., & Lundberg, H. (2019). Corporate social venturing: An agenda for researching the social dimension of corporate venturing by family-owned businesses. In Handbook of research on entrepreneurial leadership and competitive strategy in family business (pp. 173-192). IGI Global.