THE STABLE FINANCER
A CEO’s calendar is packed with hectic schedules during their first 100 days in office, including meetings with suppliers and important customers, listening tours for employees, and factory tours. Either physically or online, employees want to meet the new boss. Additionally, the CEO wants to make a good first impression.
For YS Chakravarthi, the MD & CEO of Shriram Finance one of the defining moments was his first interaction with the founder of the company. “That gave us clarity on purpose of life, and on your responsibility towards the society and your customers.” His key takeaway from the interaction was to encourage people and his team to make mistakes. “What happens is when you start punishing people for mistakes, innovation dies. People will not go beyond what they were told to do or they will not try to go that extra mile,” he said. “As a CEO, you need to sit with people when there is a problem, when there is an issue or they make a mistake. Your first responsibility should be on how to sort out the issue, not berate the person, not shout at him or criticize him. Find a solution to the problem. Give him/her a solution for it. Then you have a person who will be willing to experiment, will be going that extra mile to give you results,” he explained. When it comes management styles, Chakravarthi was clear that his is “consultative”. “Everybody's opinion is important. If not to you, to the other person. So listen to people. Listen to what they have to say and then reason out with them.”
On what was the most daring or gutsy decision he has taken, he answered, “There are no daring and gutsy steps in finance. We cannot afford to take gutsy steps because you are dealing with public money. You can't gamble with public money. So decisions are calculated.”
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Denne historien er fra October 2024-utgaven av Entrepreneur magazine.
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