7 management lessons from IPL

IPL, world’s most extravagant sporting event has lessons in
management applicable to all. Love it or hate it, yet you can’t ignore
this 2 month long cricket extravaganza. High adrenaline and
unpredictable, the IPL is a gambler’s paradise and every cricket
lovers darling sport.
As Ahmedabad’s top Integrated Management Institute, LJIMBA has
prepared a list of 7 lessons in management from the IPL.
Every successful model teaches many things, these lessons are for
students, entrepreneurs and management professionals alike.

#1. Behind every successful
venture is a strong team
The first amongst the 7 lessons in management
from the IPL – Team work always wins.

Success of winning teams is attributed to the
strength of the team on the whole. Star players do
not always take the team to victory, it is teamwork
that achieves victory.
Taking the example of Amul in the corporate
sector, this corporate society is amongst India’s
most trusted FMCG brand.
Great teams bring the best outcomes.

#2. Founders can be shown the door
What’s common between Steve Jobs and Lalit
Modi? Both founders were kicked out of the
ventures they started. While Steve Jobs returned
and refine Apple, Modi getting us second chance is
highly doubtful.

#3. Take one step at a time
Do not give away all the product features before launching.

The best example of this is the CSK captain MS
Dhoni. He spends his time focusing on
improving the team instead of making big
promises.
Correlate this to Steve Jobs style of launching a
new Apple product. Never do they disclose the
product specs, the launch surprises the
competitors.
Choose the right time to launch your product
and never give out all the trade secrets.
Competitors are always waiting to issue clones
of successful products and business models.

#4. Learn to Adopt Change
Some of the best IPL players (Shane Warne, Saurav
Ganguli and Adam Gilchrist) have retired and made way
for the Gen X cricketers. Every individual has a prime
age, after which he has to step down and make way for
the other players. Even Bill Gates stepped down as the
CEO and paved way to let Steve Ballmer lead Microsoft
Corporation.

#5. Spot the leaders
How often do we see the best partnership being
forged in the last overs? Remember the 215 run
partnership between Kohli and de Villiers in IPL
2015?
Learn to identify the key performers in your team
and give them responsibilities to lead the team
forward. Every company needs these performers,
identify them, mold them and bring them forward.

#6. Greed brings misery
Former Indian bowler S. Sreesanth got
caught in match fixing at the peak of
his career.
Former McKinsey Managing Director,
Mr. Rajat Gupta was at the pinnacle of
his career when he was caught in an
insider trading case.
Moral of the story: If you cheat,
escaping punishment is unlikely.
Greed brings misery, always.

#7. Build a trust worthy brand
The base of every brand is trust.

Many IPL teams are accused of their involvement in
spot fixing. But did they rectify their brand image?
Apparently after such accusations people forget them
and the matter cools down.
What makes Tata India’s most trusted brand? They’ve
been consistently building an image of trust among
their customers. A few years ago, when an issue was
detected in Nano, they recalled thousands of cars.
Whatever endeavor you choose as a profession, build
a trust worthy brand. After all, trust builds the base
for every successful brand.

The post was originally published at
LJMAM blog.

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7 management lessons from IPL

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