Second blunder managers in Kuwait make…

I have had my share of managers in Kuwait, and have discussed with many of my peers, friends and colleagues how projects are handled in Kuwait. I am pleased to say, that some know their business quite well. I assume these individuals were the astute type, that understood every syllabi and gesture the professor made during his lecture. What is unfortunate is to find companies recognized as blue chips, and others sought out as pioneers and leaders in their field take planning for granted. Good planning produces good results, coming from great market research. Without the right foundation you cannot build. If a person wants to make the right decision, he needs to make sure that the right research is done; the right questions are studied to make sure the right answers are appropriate. Every manager prior to execution of an idea should follow the following steps: Market research, Planning, Budget against your plan, Execution against your budget, then finally you evaluate your results, and correct the plan accordingly.
A CEO finds three companies he own making profit at the end of the year. Company 1 makes KWD 500,000/– net profit, so he award 10% bonus. Company 2 generates KWD 250,000/–, and 15% bonus was awarded accordingly. The 3rd company profits were KWD 2,000,000/– and the CEO fired his manager! Why you ask? Simple, the first company, was based on a market research that showed a market worth KWD 1,000,000/–, so 50% market share is not bad. The Second Company had a market share worth KWD 3,000,000/– so it made sense to grant a bigger bonus. But the third company generated profit out of a market share worth KWD 50,000,000/–.
Without market research, there cannot be any future visibility, and therefore, there cannot be any justified expenses.

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