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The IPL tournament is an example of globalization where players from different parts of the world played in one team. Has the tournament taught anything to the new age managers? The answer is a big `yes'. This article discusses management lessons learnt in detail from the IPL tournament.

 
 
 

The Indian Premier League (IPL) tournament had become the most favorite entertainment avenue among the television viewers ranging from the teenagers to the eldest segment of the population spread across the country. The tournament news was the most discussed topic among the formal and informal gatherings. In fact, it does unite people of different demographics at least for the duration of the match (three hours) though the viewers differ in their choice of favorite teams and players.

The captain of the team should first of all set the goal for the members of the team on a collective basis where he gives importance to the views of the stakeholders of his team and incorporate the same in the team goal. Such a goal should satisfy the SMART model of goal setting.

The process of goal setting is easier said than done. If there is difficulty in setting the goal for a cricket team for a tournament which runs for a period of just 40 days, we need to understand the difficulty involved in setting the goal for an organization which is much bigger in terms of the size and the volume of transactions. Further an organization needs to set the goal for a much longer period of time. This Himalayan task requires an extraordinary ability to foresee the future today. In spite of the complexity involved in dealing with uncertainties, the corporate leaders should set the goal of their organization on the likes of the cricket team that played in the T20 matches of the IPL tournament.

For instance, a company which is in the business of manufacturing cars in the entry level segment, can set a goal of becoming the world market leader in the entry level car segment say down the line seven years from now.

 
 
 
 

MBA Review Magazine, Indian Premier League, IPL, Globalization, Corporate Leaders, Organizational Goals, World Market Leaders, Levels of the Management, Business Environment, Corporate Strategies, Business Models, Business Plan.