The DLF Indian Premier League is providing us with interesting insights as to what happens when sports becomes a business proposition rather than a leisure activity.
The Economic Times reports that 5 players of the Shah Rukh Khan owned Kolkata Knight Riders have been asked to vacate their hotel. The possible reason for asking the 5 young men to ride away was to cut costs.
The measures of success is not just about winning. It is about getting attractive returns for the investors. The pressures on the players are that much more, as they are finding out day after day.
I feel the team owners should have done the following before the tournament started:
- Explained the new rules of the game to all concerned- the CEOs, the coaches and most specifically the players
- Given guidelines to their management staff as to precise roles so that there is no cause for confusion on issues relating to the on-field and off-field management of the franchisees
- Got the players to agree to performance linked incentives which gives them great riches if they perform and cuts some of the payment if they don’t -over a sustained basis- not on the basis of one match.
When the DLF IPL was announced and the first few matches took place, almost everyone thought it would be just fun and frolic. While the mix of glamour and sport was quite heady, only the level headed realised that sooner- if not later- the owners would ask for and get their pound of flesh.
In investing in a business, be clear about your goals and objectives. Articulate your strategy in clear terms so that every one knows where they stand and what is expected of them.
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This is the 162 nd of the “A Step A Day” series : To provide perspective and provoke thought to facilitate self-development across a wide spectrum of issues- big and small- crucial for executive success