Impact Management Journal

IMPACT Magazine Designed by SRIKANTH [email protected] impactmanagement.org

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IMPACT M ANAGEM ENT IN VALLUVAM A bilingual poet, writer, trainer, translator, thinker and speaker from Chennai, Mr Subbaraman has written 36 books. His paper, ?Valluvam Inspired Mahatma Gandhi,? was approved for presentation in the International Tirukkural Conference held in Washington, USA. His translated works include Thirukkural, Bharathiyar?s Kuyilpattu and Ramana Maharishi?s Aksharamanamalai. He is connected with the publication of the Management e-journal IMPACT. Former Dy. Zonal Manager, L I C of India The world in which we live and enjoy living is not to be simply dismissed as 'full of sound and fury signifying nothing' as expressed by Shakespeare through his character King Lear. The great world, with its vast natural resources and human potential, flora and fauna, land and sea, deserts and forests, hills and dales, people with their different cultures and languages, civilizations and behaviors, intellects and intelligence, feelings and emotions, is verily a heaven to enjoy notwithstanding strife and wars, weaknesses and threats, trials and tribulations, struggles and sufferings! impactmanagement.org

IMPACT 05 A nation is not simply a he declared in ecstasy that vibrant and dynamic with its geographical entity with India is a great nation in the inexhaustible thoughts in earth and water, roads and world! every realm influencing buildings, but indeed is humanity through its art and Ancient Indians had wisdom made up of men and women literature, has provided in all areas of human life with their physical, guidelines for happy living, and living which is much intellectual, emotional and just governance, noble more than what we witness spiritual personalities fully behaviour, etc. A classical today ? a day marked with blossomed. Various language with richness of advancement in every attributes such as love and grammar and vastness of conceivable field of compassion, kindness and literature, scintillating activities. Chanakya, Vyasa, humanism, valour and thoughts and inspiring Kowtilya, Varaha Mihira, fearlessness, hard work and philosophy has contributed Panini and the greats in patriotism of the people and splendidly for building up scores have contributed their contribution through the national character and vastly to the welfare of art and literature of the human values. society. highest type, language and THIRUVALLUVAR: He is one TAMILNADU ? IT?S grammar, culture and CONTRIBUTION TO INDIA civilization make a nation AND THE WORLD: great! With its ancient civilization INDIA ? A GREAT NATION: and rich heritage, Tamil With one of the most Nadu has contributed in ancient civilizations of the enormous measure to the world, India, with its age-old progress and greatness of culture and heritage, has India through its language talked about the concept of and literature, scientific and universal brotherhood and technological attainments, oneness of humanity and in economic development and of the greatest thinkers the fact has practised these social advancement, world has witnessed. Born noble concepts. This core patriotic leadership, more than 2000 years ago in philosophy treats the entire unassailable laws of good Chennai in India, he has universe as one family. India governance, advanced given us the art and science has provided inspiration to principles in archaeology of life and living through his several countries of the and architecture, agriculture magnum opus ?Thirukkural'. world to become free. North and engineering, medicines and South, East and West all When the values and technology ? all lending over the world look to India propounded are practised colour to the glory of India! for peace and serenity. In truthfully, it will surely that way, Mahakavi TAMIL: One of the most bring the unseen heaven to Bharathiyar was right when ancient languages, yet this very earth. Hardly is impactmanagement.org

06 IMPACT there any subject in the world that has not To start with, we shall just peep into human been dealt with by Thiruvalluvar and this, in relations management, and this will be dealt fact, has made this work universally with exhaustively in the next issue. acceptable as a common scripture of eternal Those with the basic knowledge of truths and values. This is probably the only Thirukkural know that it has broadly three work that has been translated into more cantos viz aram (Virtues), porul (Wealth) and than ninety languages of the world, of inbam (Nature of Love). course, with the exceptions of the Bible and In fact, ?aram? consisting of 380 couplets in the Quran, which are the valued possessions 38 chapters, is the guide for virtuous life, of the two religions. and when the guidelines contained in these Thiruvalluvar has dealt with all topics under couplets are followed, human relationships the Sun, topics that enliven, ennoble and can be ideally managed. Some of the very enthrall the educated, knowledgeable and important chapters that directly contribute intelligent the world over. to Human Relations Management are: Various principles of Management 1 Loving ?Kindness (Chapter 8 ? propounded by the great Saint Thiruvalluvar Anbudaimai) ? whose philosophy is here taken as VALLUVAM ? are worth a study by all 2 Hospitality (Chapter 9 ? Virundhombal) students of Management, researchers in 3 Sweet Words (Chapter 10 ? Iniyavai Management and practitioners of kural) Management ? whatever shade of 4 Gratitude (Chapter 11 ? Sei nandri management it be. arithal) We in IMPACT ? Innovative Management Practices And Creative Thinking ? through 5 Equity (Chapter 12 ? Naduvu nilaimai) our e- journal named so, would like to 6 Self-control (Chapter13 ? Adakkam serialize in a few of our forthcoming issues udaimai) this subject heavily drawing from Thirukkural. 7 Good decorum (Chapter 14 ? ozukkam udaimai) Man Management 8 Forgiveness (Chapter 16 ? Porai Financial Management udaimai) Time management 9 Avoiding Envy (Chapter 17 ? Azukkaaraamai) Stress management 10 Avoiding Slander (Chapter 19 ? Relationship Management Purngkuraamai) In the forthcoming issues, we shall deal with Health Management the subject in detail. impactmanagement.org

IMPACT 07 Management Humor A man in a hot air balloon realized he promise which you've no idea how to was lost. He reduced altitude and keep, and you expect people beneath spotted a woman below. He descended a you to solve your problems. The fact is bit more and shouted, \"Excuse me, can you are in exactly the same position you you help me? I promised a friend I would were in before we met, but now, meet him an hour ago, but I don't know somehow, it's my fault.\" where I am.\" ************** The woman below replied, \"You're in a A sales rep, an administration clerk and hot air balloon hovering approximately the manager are walking to lunch when 30 feet above the ground. You're they find an antique oil lamp. They rub it between 40 and 41 degrees north and a Genie comes out in a puff of latitude and between 59 and 60 degrees smoke. The Genie says, \"I usually only west longitude.\" grant three wishes, so I'll give each of \"You must be an engineer,\" said the you one wish each.\" balloonist. \"I am,\" replied the woman, \"Me first! Me first!\" says the admin clerk. \"How did you know?\" \"I want to be in the Bahamas, driving a speedboat, without a care in the world.\" \"Well,\" answered the balloonist, \"everything you told me is, technically Poof! She's gone. correct, but I've no idea what to make of In astonishment, \"Me next! Me next!\" your information, and the fact is I'm still says the sales rep. \"I want to be in lost. Frankly, you've not been much help Hawaii, relaxing on the beach with my at all. If anything, you've delayed my personal masseuse, an endless supply of trip.\" Pina Coladas and the love of my life.\" The woman below responded, \"You must Poof! He's gone. \"OK, you're up,\" the be in Management.\" \"I am,\" replied the Genie says to the manager. balloonist, \"but how did you know?\" The manager says, \"I want those two \"Well,\" said the woman, \"you don't know back in the office after lunch.\" where you are or where you're going. Moral of the story: You have risen to where you are due to a large quantity of hot air. You made a Always let your boss have the first say. impactmanagement.org

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IMPACT 09 Book Review: Work Rules!: Insights instincts. Even if it makes you nervous, give people from Inside Google That Will more freedom and authority. It?s fine to pay Transform How You Live and Lead two people in the same job Author: Laszlo Bock completely different amounts. No of Pages: 416 However, there are two Publisher: Hachette Book Publishing nagging thoughts as you Price: Rs 599 read the book. One, while these lessons do appeal to By N S Ramanath common sense, the Banglore difficulty is in where one draws the line. Paying Google is one of the most capture a bigger share in different amounts is fine, successful companies of our other segments. How does but at some point it will times. If you are reading this Google attract, recruit, start being perceived as online ? and even if you are retain people and get the unfair. Giving freedom is not ? you have probably best out of them? great, but how exactly does used one of the Google one strike a balance. Rules products in the last half an An insider, Laszlo Bock, who that work well for one hour. Maps, Search, Mail, heads Google?s people company, at one stage, YouTube, or may be, the operations has come up might ill serve another operating system in your with a new book that company in a different Android phone. Google, it promises to explain how stage of growth. Which would seem, is everywhere. Google does it. It?s not just a brings us to the second Many would agree that the Google book. Laszlo goes nagging thought. Part of the primary reason for its beyond Google, drawing book?s appeal comes from enormous success and its lessons from psychology, the success of Google. It?s apparent omnipresence is behavioural sciences and not clear how much that its ability to attract top experience of other very success accounts for its talent. Thousands of companies and industries. ability to attract and retain employees (its headcount On the first glance, the talent. For research, which was 53,600 as of December lessons seem solid, and in Laszlo trusts so much, also 2014) plan, design, code, line with what you would suggests that job test, sell and service to expect from a company of satisfaction is to a large make sure that the company and for engineers. Make extent a function of the retains its leadership decisions based on data, financial performance of a position in search and and not on opinions or business. impactmanagement.org

10 IMPACT DEBATE FOR DECADES Mr. Nandakumar formerly vice-president in the Indian Express Group of publications for three decades. Presently, he is the founder and director of Vibes Acadamy. ?Is Management, a according to them, human and mathematical methods behaviour is inconsistent and principles to enable Science or an Art?? and irrational. Therefore, decision making in a is the hot topic, in debate Management is ?skill? problem-solving process. for decades. There are related and hence an art. These models are not equally strong views perception-based. This is similar to someone favouring both these Management principles looking at the tip of an ice perceptions. Many prefer to remove the personal bias, berg and hastening to take a compromising stand judgment and perception classify it as a mere stone. saying Management is both from the decision-making Human issues are just a a science and an art. A few process through tested and miniscule part of the take a mid course, proven standard operating management. Managing has classifying Management as a procedures to follow. The hundreds of tentacles and ?Soft? science! theories are very reliable as personnel management is they are devised for just a tiny web in one of its The author is of a definite optimum decision planning arms. The modern opinion that management is and are linked to economy, management is system a science. Those who engineering and human based and not people subscribe to the contrary science. They are the result based. Even this skill of view that management is an managing people is a of careful researches, art invariably cite that it is science, which we will dwell strategies employing an art because it deals with upon in depth in the latter analytical methods, managing people. They part of this article. mathematical modelling and relate Management to statistics. managing people and no Management theories are more. Managers have to working models and are like Like any other science, manage people to reach set any other science thesis. management is a goals in any business Generally, management is systematized body of environment, because, the application of statistical knowledge. It has its impactmanagement.org

IMPACT 11 theories, principles and the differences in economy, theories on soft skill models which are culture and other local developments are nothing developed by experts in the influences in different but scientific. respective branch of countries wherever they are management. These applied. Data mixing, In sports, music and other principles are evolved after structured predictions, competitive endeavours series of processes like data simulations, and forecasting today, we notice that collection, analysis through are management theories records are being statistical applications and that have proved their consistently broken. This is tested through controlled universality. not to say that in olden days case studies. participants lacked The only grey area, it seems, deliverance capabilities. But The conclusions of these is with regard to dealing today we improved results management theories are with people. No doubt this because results are emphatically derived and requires skill. However, achieved by employing critically tested for developing skill itself is a scientific training modules. consistent cause-and-effect science. The management In skill development, the relationships, and hence believes in leading people management of training and they ensure universal scientifically. Hence, skill coaching is evolving to applicability. The solutions itself is not an art but is a higher levels, perennially for any deviation that product of management improving the level of demand attention and science. Even madness has achievements. control in any particular methods. Though for the lay situation are built-in in all man human behaviour may Therefore, the argument management models. seem unpredictable, for the that management is an art Hence, all management management expert, it falls because it is a skill that principles follow the with the realm of leads people towards scientific discipline. predictability. Further, optimal deliverance needs Today, management human behaviour can be reconsideration. theories yield sustained, forced and maneuvered repeatable and predictable Let me conclude that only if it is fully understood. results. The belief that the management is not a matter Neuron science is all about results through established of hunch and native ability; predictable human management practices are its elements can be behaviour. Management only ?success-by-chance? is organized systematically, it science takes cognizance of highly misplaced. can be learned and this vulnerability and successfully employed by The management theories capabilities of the human anyone with normal human like 6Sigma, 5s, 7 Hats, etc. psyche and integrates it into endowment. are internationally proved its theories and application disciplines irrespective of methodologies. The Hence, it is a pure science. impactmanagement.org

12 IMPACT VEN T URE 10 questions to ask before you go to a VC ? or even if you don?t CAPITAL A Master of Financial Management from Sri Sathya Sai Institute of Higher Learning, Puttaparthi, Mr Ramnath is a well-known freelance journalist from Bangalore. He was earlier connected with the Economic Times and Forbes India. Peter Drucker, the guru of of business failure.\" 1. What problem am I trying management gurus, is to solve? The questions listed below ? famous for asking his clients Businesses, big or small, drawn from watching ? usually, CEOs and top exist to solve a problem. For start-up pitches, listening to executives of large example, there is so much advice venture capitalists corporations ? a very basic information on the net ? all (VCs) give to start-ups and question: ?What business haphazard, unorganised and reading training material are you in?? constantly updated ? that crafted by those who have it?s a pain to get what I want. One would assume that been on both sides of the Google tries to solve that people running these large table ? are the basic problem. Another example. and longstanding questions that demand School students sometimes businesses would know adequate study & thought. suddenly need pencils, what they are into. Yet, like erasers, papers, notebooks the proverbial expert who Entrepreneurs in need of misses the obvious, these etc. Facing a teacher funding often face these veterans often lose sight of without these can be an questions from VCs. But you unpleasant experience. the basics. They fail to ask don?t need to be looking for That?s a problem. The fundamental questions at funds to ask these stationary shops near enormous costs to the questions. It doesn?t matter schools exist to solve this companies they run. what stage of growth you problem. One way to arrive As Drucker wrote in The company is in, it doesn?t at an answer is to ask ?If I Practice of Management: matter what size it is, or don?t exist, what would my ?That the question is so where it is based. Asking customers do?\" rarely asked at least in a these questions and clear and sharp form and so attempting to answer them 2. Who are my customers? rarely given adequate study with honesty will help any Drucker says the purpose of and thought, is perhaps the business that wants to be in a business is to create a most important single cause the game. customer. It?s useful to think impactmanagement.org

IMPACT 13 of customers in two ways. the solution works. Bottom up and Top down. 4. What is my secret sauce? Start by thinking about one The one key advantage that individual who has the your business has that problem you are trying to others don?t. For Google, it solve. And then expand is its search algorithm that from that point. In the gives the most relevant stationery shop example, results. For the stationary start with one student (build what you would do after shop near school, it could be a use case around him), and capturing the target market. the lowest price in the expand to his classmates, Which customer segment vicinity (and its ability to schoolmates, school would you target next, sustain that advantage over children in the city, in the solving what problem, using a period of time), or it could district and so on. In the what solution? be the better choice of top-down approach, you 6. How will I reach my goods it offers or its credit start with the total available customers? policy. In short, it could be market (all school children technology, expertise or To answer this question, it?s in, let?s say, a town), patent. You can also, useful to think in terms of serviceable available borrowing from Warren different levels of customer market (how many outlets Buffett, think of it in terms engagement. Ask these can I have, given my of the moat that surrounds questions: How will I constraints), target market your castle. The bigger the increase the awareness (who am I targeting right moat, the better it is for about my product/solution? now?) your business. How will I persuade my 3. What is my solution? customers to buy my 5. How big can I grow? Try to describe your product/solution? How will I solution in one, simple You can consciously decide deliver it to them? And how sentence. Then, substantiate not to scale up. Your will I manage the that by describing how business can be a niche. You relationship post-sales? exactly you are solving the can decide to have just one 7. Who are in my team? problem described under shop, and run it well and question 1. If you have profitably. You wouldn?t The difference between a listed more than one need VCs, and neither will successful business and a problem, explain how the VCs, who expect large failed business is often its solution works and its key returns, be interested in people. Venture Capitalists features; solve each one of you. However, scaling up is love saying that they don?t them. If needed, use a visual also a valid path. Refer to invest in an idea, but in aid ? a flowchart, or a the earlier question on people. While answering diagram ? to explain how customers and describe this question, focus on the impactmanagement.org

14 IMPACT key five or six people in breakeven is far, how will question, in addition to your team, the contribution you fund it? specific plans you might they make, the relevant have, try mapping the steps 9. What are the risks? And experience they bring and to answers for question what am I doing about it? how their skills and number 5 (growth) and Murphy?s Law: If something backgrounds mitigate the question number 6 can go wrong it will. Best risks that your business is (managing risks). Make sure businesses anticipate what exposed to. the plans are SMART ? could go wrong, and fix that specific, measurable, 8. How much can I make, before it breaks. What can attainable, realistic and and at what cost? go wrong? It can be time-bound. something in the market, or This is where you talk hard in the business model, or numbers. What are the Finally, try to summarise because of specific revenue streams, and how these into a five-point list constraints you might be much will each bring in. that describes why your facing? How will you What?s your cost structure business is good and worth address each one of them? and how does it behave? investing in. Even if you are Will it grow in proportion to 10. What are my plans for not planning to go to a VC, sales; or are there the next one year? these questions are worth economies of scale? If the While answering this asking. MANAGEMENT HUMOUR A man brought a very limp dog into the veterinary clinic. As he laid the dog on the table, the doctor pulled out his stethoscope, placing the receptor on the dog's chest. After a moment or two, the vet shook his head sadly and said, \"I'm sorry, but your dog has passed away.\" \"What?\" screamed the man. \"How can you tell? You haven't done any testing on him or anything. I want another opinion!\" With that, the vet turned and left the room. In a few moments, he returned with a Labrador retriever. The Retriever went right to work, sniffing and prodding, checking the poor dead dog out thoroughly. After a considerable amount of sniffing, the Retriever sadly shook his head and said, \"Bark\". The veterinarian then took the Labrador out and returned in a few moments with a cat, which also checked out the poor dog on the table. As had his predecessors, the cat sadly shook his head and said, \"Meow.\" He then jumped off the table and ran out of the room. The veterinarian handed the man a bill for $600. The dog's owner went berserk. \"$600! Just to tell me my dog is dead? This is outrageous!\" The vet shook his head sadly and explained. \"If you had taken my word for it, it would have been $50, but with the Lab work and the cat scan.... impactmanagement.org

IMPACT 15 CRISIS MANAGEMENT Dr. K. Balasubramanian ? Founder and CEO of Vision Unlimited. He is a PhD in Psychology & Post Graduate Diploma in Training & Development. His name has been appearing in the popular people of Tamil Nadu Directory for the past 25 years. Coping with uncertain times technique but one that is Close friends and loved can leave anyone feeling tried and true. The old ones are another good vulnerable and edgy, and practice of counting to 5 or support when times are we are no exception. In the 10 while breathing deeply tough. The people we are last few months, many have really does work because it closest to, can become our expressed their feelings of fills our system with extra best support system. uncertainty and fearfulness oxygen and drops our stress Building and maintaining about the future. It is level quickly. By giving our solid and supportive natural to be concerned selves a moment to breathe relationships can make all when things around us are deeply and absorb a change the difference in how we shifting and changing in this way, we'll handle weather tough times and rapidly, such as the activity change more easily and sudden changes. we have recently with the gracefully. stock markets, gasoline It is equally important to prices, and housing call upon our sense of foreclosures. humour. When times are Fortunately, we don't have tough, a bit of laughter can to live in a state of panic help to lighten the load. Let when life throws us a curve. us seek out reasons to The wonderful thing about laugh, and if we have human beings is that we are difficulty finding them, look Friends, I hope that these resilient and resourceful. for them in funny movies, tools for coping with life's This means that, even if we comic television shows, or twists and turns will help don't like change, we are comedy routines by our you roll with the punches able to adapt to new favourite comedian. when times are difficult or situations and find new Scientific studies have uncertain. ways to deal with them. shown that laughter is healing for both the body Remember to check out The first advice about and mind and, as far as I your Health, Wealth and dealing with change is to know, nobody has died from Happiness frequently to breathe. It is such a simple laughter. remain happy? impactmanagement.org

16 IMPACT THE SILVER LINING IN OUR THINKING (DEVELOPING A POSITIVE MENTAL ATTITUDE) Mr Clifford Martis, former Executive Director Life Insurance Corporation of India, served for three and a half decades in Administration, Housing Finance and Investment. He is a prolific writer in English, Kannada and Hindi on various social subjects, humor, management, etc. His articles are being published in Women?s Era, Alive, Yogaskshema, Vinoda, etc. It is said that our attitude have a cheerful attitude or a different attitudes. Two determines our altitude. In morose, gloomy attitude? different persons may look our words, our position in What is our reaction when at the same thing in a bright life is determined by our there are disappointment or or a dull way. There is a attitude. Qualities like hard failure or a missed touching story about two work, ambition, possessing opportunity? There is a prisoners who looked out of knowledge, etc. are required story about a person who the small prison window. to achieve success in life. was leaving for an important One saw mud. The other saw But of all these qualities, a business trip. He missed his stars! A person who fails in positive mental attitude is connecting plane. Instead of an exam may despair and the most essential aspect. It getting angry or upset, he give up further studies. is possible for us to seemed to be happy and he Some people even think of cultivate a positive attitude made plans to spend the committing suicide and we by practising certain things time visiting the new city. do read about such cases in and by developing certain His idea was simple. I have the papers. But another habits that are discussed in missed the plane. Nothing person may make up his this write-up. can be done about it now. If mind to try again with extra I worry or get upset, it will effort and with a What is attitude? Attitude only make matters worse. determination to succeed. means the way we look at So, let me make the best use life in general. Do we look at Let us see how interestingly of the time at my disposal. I life as something to live and attitude comes out with have heard that this is a enjoy or some punishment flying colours when various beautiful city. But I never which has to be borne keys to success are had sufficient time to see it. somehow till death liberates examined. Let us give Today I?ve got the us from bondage? What is numbers to the letters of opportunity! our disposition towards our the alphabet. A is 1, B is 2, C job and our work? Do we Different persons have is 3 and so on till you come impactmanagement.org

IMPACT 17 to Z which will be 26. Now good thing, fine. If it is a bad way that good things will let us see what values thing, we can try to face it follow. various keys to success get and see what to do about it. by this method. In any case there is no need for us to go on imagining Ambition that bad things will happen 1+13+2+9+20+9+15+14=83 and worry all the time. Ability If we worry and make 1+2+9+14+9+20+25=80 ourselves miserable and Attitude actually a bad event 1+20+20+9+20+21+4+5=100 happens, then we will suffer Consider other aspects doubly, up to the happening Take an example. If I am which people may consider of the event and on the going to take an exam or as useful in achieving happening of it. On the appear for an interview, I success. Money (72), luck other hand, if we are can either imagine that I will (47), work (67). Can you optimistic and the event succeed and be happy or I please find out the marks turns out to be good, we can worry about failing, as for ?Knowledge?? Even enjoy twofold. Even if the many of us do often. Now, ?knowledge? falls short by event is bad, we will succeeding or failing will three points. become unhappy only after depend ultimately on my its happening. We would Is there logic in the idea of preparation and may be a have been happy at least till positive mental attitude or few other minor factors. But the happening of the event. is it only a figment of our my worrying before the imagination? I think that Therefore, it would be exam will unnecessarily sensible to expect or there is clear logic in having complicate the situation. My imagine happy events to a positive attitude. In life, imagination that I am going take place and be in a both happy and sad events to fail and worrying about it take place. We do not know happy, cheerful mood. will make my mind let me what really will happen ? There is a psychological down at the crucial moment. whether a happy event or a aspect also. It has to do with My mind is likely to fail me sad event. This being the our subconscious mind. We in facing even simple case, why should we expect do not do our actions only questions. On the other an unhappy event to happen through the prompting of hand, if I go on imagining and feel sad and go on the conscious mind. Many of success, then I will be in a worrying? Why should we our actions depend on our bright frame of mind, and not expect a happy event subconscious mind. If we go there is every likelihood and be happy? When the on imagining good things, that I will remember matters time comes, whatever has to then our subconscious mind well and that I will be able happen will happen. If it is a will start acting in such a to answer better. impactmanagement.org

18 IMPACT Is attitude something with glass is filled with water up Roosevelt said, ?Nobody can which we are born or is it to the middle level. What make you feel inferior something that can be shall we say ?The glass is without your permission.? In cultivated and developed by half empty or the glass is this connection, we should us? Are there methods by half full?? We must make a learn not only to appreciate which we can develop a conscious effort always try and praise others but also to healthy, bright, positive to see the brighter aspects accept praise gracefully attitude towards life and its of all events that take place. whenever someone various aspects? There is a appreciates our work. fine quotation: You are what Humility is a good virtue, you think you are. Many but it does not require us to writers and psychologists unnecessarily have written that a person underestimate ourselves can definitely shape his and carry guilt feelings. thinking by learning some 4 Let us learn to keep useful methods. negative influences away. How can we develop a Negative people ? that is positive attitude? Attitude is people who are always not something which some pessimistic, always other person can give us. 2 Let us learn to count our criticizing and never doing We have to develop it blessings and not troubles. anything to improve things. ourselves through conscious When something not so Let us try to cultivate the effort. Others may show us pleasant happens, let us friendship of happy, some ways or give some think of the many happy cheerful & positive-minded tips. But ultimately our things that have happened people who spread attitude is our own making. to us. If we feel dull about happiness and good cheer. Many writers like Dale our job and our salary, let us Carnegie, Norman Vincent think about the large Let us examine whether Peale, Napoleon Hill and number of people whose smoking, drinks and other others have written fine salary is much lower than such habits are a drag on books on this subject. In his ours or those who do not our work and our lives. If wonderful book, ?You can have a job at all. we find that these things are Win,? Shiv Khera gives some 3 Let us learn to build really creating havoc in our practical suggestions for self-esteem. Let us always lives, then let us make up building a positive attitude. remember that we are what our minds to give up such These and a few other tips we are and what we can do things. In this connection, are discussed below: about ourselves. If ever we we should learn what is 1 Always look for the feel inferior, let us meant by assertiveness and positive aspect of things. A remember what Eleanor practise it. impactmanagement.org

IMPACT 19 5 Let us learn to like the different thing to go on these methods regularly, things that need to be done. worrying about it. Just think. consciously and sincerely. For example, we have to do Can you or I change After some time, the idea of certain things in order to anything that has already positive thinking will succeed. If I want to succeed occurred? become a habit. Once it in my Computer course, I becomes a habit, it will take If, therefore, we make it a must work hard. Let me over our thinking. habit to forget failures and learn to love working hard unpleasant things, it will because it will bring me help us building a positive success. Some people want attitude. It will give us time to do things which they like. to remember the happy That?s fine. But if you know things. Remembering the that certain things are pleasant events, especially necessary for your success, when we are tense about an then you must learn to like exam or an interview or such things. about any other important matter, is called anchoring. 6 Let us learn to remember Some of us may be the the happy things that have 7 Let us decide to start each worrying or pessimistic type happened to us and to day with a positive thought. of persons. In that case, we forget the sad or unpleasant Let us simply say, again and must make special efforts to things. Life is full of happy again and as many times as develop a positive mental and sad events. If a sad possible attitude. Such persons must event takes place and if we try to adopt some methods go on brooding about, it will DAY-BY-DAY IN that are aimed at changing do no good to anyone. habits. In order to adopt Nothing can change EVERY WAY I AM new habits, we should something which has acquire newer habits. If we already taken place. If I GETTING BETTER are used to a certain route missed the bus in the AND BETTER. for our morning walk, we morning and was unable to should consciously change do something important These suggestions are of the route. If we are used to that I had to do, nothing can great help but one has to wearing the left shoe first, be done by my worrying put them into practice with we should wear the right about it. It is true that we sincere, conscious effort. one first. These steps, when should learn lessons from Our minds are likely to let done consciously, will failure and try to improve. us down and we may find remind us of our desire to But it is one thing to learn ourselves thinking of change our habits and will some good lesson from a negative aspects again. help us to change our failure and it is quite a Therefore, we must practise worrying nature. impactmanagement.org

20 IMPACT PORTFOLIO Each phase is essential and the success of each phase depends on the efficiency in M A NA GEM ENT carrying out each phase. Security Analysis Mr. K Suresh President & CEO India Cements Capital ltd. Security analysis is the Director India Cements Investment Services initial phase of the portfolio ltd. has more than 28 years of experience management process. There in Finance, Securities Market, Accounts, are many types of securities Internal Audit and Marketing. available in the market, What is Portfolio? - Asset allocation for including equity shares, individuals & institution preference shares, Portfolio refers to invest in - Balancing risk against debentures and bonds. It a group of securities rather performance forms the initial phase of to invest in a single security. the portfolio management Phases of Portfolio process and involves the ?Don?t Put all your eggs in evaluation and analysis of one basket? risk return features of Portfolio help in reducing individual securities. The risk without sacrificing basic approach for investing return. in securities is to sell the Portfolio Management is the overpriced securities and process of creation and purchase under priced maintenance of investment securities. The security portfolio. analysis comprises Management Fundamental Analysis and Portfolio management is a technical Analysis. complex process which tries Portfolio management is a to make investment activity process of many activities Portfolio Analysis more rewarding and less that aimed to optimizing the risky. investment. Five phases can A portfolio refers to a group of securities that are kept Major tasks involved with be identified in the process: together as an investment. Portfolio Management - Security Analysis. Investors make investment - Taking decisions about - Portfolio Analysis. in various securities to investment mix and - Portfolio Selection. diversify the investment to policy - Portfolio revision. make it risk-averse. A large - Matching investments to - Portfolio evaluation. number of portfolios can be objectives created by using the impactmanagement.org

IMPACT 21 securities from a desired set of securities obtained from an initial phase of security analysis. By selecting the different sets of securities and varying the amount of investments in each security, various portfolios are designed. After called efficient portfolios. securities that promises identifying the range of The set of efficient high returns at low risks. In possible portfolios, the portfolios is formed and such conditions, the risk-return characteristics from this set of efficient investor needs to do are measured and portfolios, the optimal portfolio revision by buying expressed quantitatively. It portfolio is chosen for new securities and selling involves the mathematically investment. The optimal the existing securities. As a calculation of return and portfolio is determined in result of portfolio revision, risk of each portfolio. an objective and disciplined the mix and proportion of way by using the analytical securities in the portfolio tools and conceptual changes. framework provided by Portfolio Evaluation Markowitz?s portfolio theory. This phase involves the regular analysis and Portfolio Revision assessment of portfolio performances in terms of After selecting the optimal risk and returns over a portfolio, the investor is period of time. During this Portfolio Selection required to monitor it phase, the returns are During this phase, portfolio constantly to ensure that measured quantitatively is selected on the basis of the portfolio remains along with risk born over a input from previous phase optimal with passage of period of time by a Portfolio Analysis. The main time. Due to dynamic portfolio. The performance target of the portfolio changes in the economy and of the portfolio is compared selection is to build a financial markets, the with the objective norms. portfolio that offer highest attractive securities may Moreover, this procedure returns at a given risk. The cease to provide profitable assists in identifying the portfolios that yield good returns. These market weaknesses in the returns at a level of risk are changes result in new investment processes. impactmanagement.org

22 IMPACT Management Humor The American and the Japanese steering managers, three area steering corporate offices for a large managers and a new performance review multinational corporation decided to system for the person rowing the boat to engage in a competitive boat race. Both provide work incentive. teams practised hard and long to reach The next year, the Japanese won by two their peak performance. miles. Humiliated, the American office On the big day they felt ready. The laid-off the rower for poor performance Japanese team won by a mile. Afterward, and gave the managers a bonus for the American team was discouraged by discovering the problem. the loss. Morale sagged. Corporate ************************ management decided that the reason for This guy gets a parrot but it's got a bad the crushing defeat had to be found, so a attitude and foul vocabulary. He tries consulting firm was hired to investigate everything to change the bird?s attitude the problem and recommended and clean up its talk but nothing works. corrective action. Finally, in a moment of desperation, he The consultant's finding: The Japanese puts the parrot in the freezer. For a few team had eight people rowing and one moments he hears the bird squawking, person steering; the American team had kicking and screaming and then, one person rowing and eight people suddenly, all is quiet. He opens the steering. freezer door. The parrot steps out and After a year of study and millions spent says, ?I?m sorry that I offended you with analyzing the problem, the firm my language and actions. I ask for your concluded that too many people were forgiveness. The guy?s astounded at the steering and not enough were rowing on bird's change in attitude and was about the American team. to ask what changed him when the parrot So, as race day neared again the continued, \"By the way, may I ask ? what following year, the American team's did the chicken do?\" management structure was completely ************************ reorganized. The new structure: four Start with a cage containing five impactmanagement.org

IMPACT 23 monkeys. Inside the cage, hang a banana newest monkey. on a string and place a set of stairs under After replacing all the original monkeys, it. Before long, a monkey will go to the none of the remaining monkeys have stairs and start to climb towards the ever been sprayed with cold water. banana. As soon as he touches the stairs, Nevertheless, no monkey ever again spray all of the other monkeys with cold approaches the stairs to try for the water. After a while, another monkey banana. makes an attempt with the same result ? Why not? all the other monkeys are sprayed with Because as far as they know, that's the cold water. Pretty soon, when another way it's always been done around here. monkey tries to climb the stairs, the other monkeys will try to prevent it. And that, my friends, is how company policy begins. Now, put away the cold water. Remove one monkey from the cage and replace it *************************** with a new one. The new monkey sees A project manager, hardware engineer the banana and wants to climb the stairs. and software engineer were in a car To his surprise and horror, all of the heading down a hill when the brakes other monkeys attack him. After another failed. The driver managed to get it attempt and attack, he knows that if he stopped by using the gears and a tries to climb the stairs, he will be convenient dirt track. assaulted. All three jumped out and after peering Next, remove another of the original five under the car the hardware engineer monkeys and replace it with a new one. said, \"I see what the problem is and with The newcomer goes to the stairs and is this handy roll of duct tape I think I can attacked. The previous newcomer takes fix it good enough to get us to the next part in the punishment with enthusiasm! town\". The project manager quickly Likewise, replace a third original monkey interrupted, \"No, no, no. Before we do with a new one, then a fourth, then the anything we need to decide on a vision fifth. Every time the newest monkey for our future, figure out a plan and takes to the stairs, he is attacked. Most of assign individual deliverables\". At which the monkeys that are beating him have point the software engineer said, \"You no idea why they were not permitted to know what, I think we should push the climb the stairs or why they are car back up to the top of the hill and see participating in the beating of the if it happens again\". impactmanagement.org

24 IMPACT MANAGEMENT (6) Anecdotal information (14) Benign report 1 Scattered stories and or reports 1 A harmless document when it JARGONS 2 First information from the field could have been detrimental to the firm 3 Not scientific or definitive ?Your use of our product provides \"The benign report is not a Words anecdotal information to us? problem\" & (7) Arrows to fire (15) Bounce an idea off someone 1 Points to mention and/or tactics 1 To get someone?s initial Phrases to take impression of an idea they have not heard before (1) Accommodate concerns \"He ran out of arrows to fire\" ?Can we bounce an idea off 1 Make room for opinions 2 Make (8) At some juncture someone today? an allowance for a preference 3 1 Some unspecified point in time Tolerate a different point of view (16) Break it down in the future \"We will try to accommodate your 1 Provide details \"At some juncture we will decide\" concerns\" \"He will break it down for you\" (9) At this point (2) Accountability 1 Now (17)Bring them along 1 Responsibility for the progress 1 Give a slow introduction over of a project or the progress of the \"At this point we have begun\" time 2 Incrementally spoon feed firm 2 A lack of progress may not (10) Band aid small amounts of possibly lead to any disciplinary action 1 A quick temporary fix which misleading information until the \"We are going to build in when the fix works, is frequently whole concept is accepted 3 accountability\" ignored because of the higher Withhold distasteful information expense to permanently fix the (3) Address \"We must be careful to bring problem. them along\" 1 To provide words on a topic \"Can we put a band aid on the which may have little or no (18) Brush fire problem\" meaning 1 Out of control 2 Growing wildly (11) Bandwidth \"He will address us on the topic\" \"Lets stop these reports before 1 Capacity 2 Maximum amount they grow into a brush fire\" (4) Aggressive quote \"We do not have the bandwidth (19) Budget 1 A low bid to produce a good or to accommodate your request\" provide a service 1 Projected dollar amounts (12) Bearish on estimated ahead of time for a \"We can get it with an aggressive project 2 the company's overall quote\" 1 Against 2 To assert a belief that something will decrease costs and revenues 3 Any (5)Ambush marketing estimate before or after any or all \"I'm bearish on the economy\" facts are known. 1 To tie a firm?s name to its (13) Believe in competitors advertising \"Let's revise our budget after the 1 Behind an idea or in favour of project starts\" ?They are using ambush something marketing by naming the stadium (20) Bullish on ...? \"I believe in our marketing\" 1 In favour of 2 To assert a belief impactmanagement.org

IMPACT 25 that something will increase fewer employees and/or less will work out 2 To imply prior plant and equipment knowledge of future events \"I'm bullish on our sales\" \"Your idea has some interesting \"We have confidence in the (21) Bushit cash flow benefits\" future\" 1 Great lies told by a great (34) Consolidation authority 2 Overly exaggerated (27) Clamp down claims of validity about a 1 The firing of employees and/or 1 To reduce 2 To slow to near heterogeneous collection 3 the reduction of plant and zero 3 To spend very little Giving assurance with a quick equipment \"We must clamp down our smile and a chuckle 4 Claiming \"Our consolidation will close one expenses\" new information is true because store\" it is common knowledge (28) CNBC (35) Cost containment \"I know better than to believe his 1 Conservative National Bushit 1 The firing of employees and/or bushit\" Conference 2 Nonstop radically the reduction of plant and (22) Business case conservative propaganda equipment \"I am watching CNBC because \"Cost containment will lead to a 1 A multiple year estimate of a they think they are right.\" profit\" future projects costs and revenues (29) Commitment (36) Cost management \"Can we make a business case for 1 The act of standing behind a 1 The firing of employees and/or your project\" policy whose value ends when the reduction of plant and equipment (23) Buy in the policy is concluded \"We need to exercise some cost \"We made a commitment to this\" 1 Agreement 2 Commitment management\" (30) Company policy \"We need manufacturing's buy in (37) Create value before we go ahead with this\" 1 A written or verbal statement of 1 Make a better product or a firm's stance on a topic Calm market service 2 To increase a customer's (24) A steady price \"Ours is a very good company perception of something's policy on that\" usefulness \"We are experiencing a calm (31) Compelling case market\" \"This will create value for our (25) Cash burn rate 1 A winning argument 2 customers\" Overwhelmingly persuasive (38) Crisis management 1 How quickly liquid assets are \"You make a very compelling being spent 2 The number of 1 To control and limit the impact dollars of cash flow being lost case\" of major unforeseen problems 2 each month or quarter (32) Competitive analysis A management style that only acts after a crisis has occurred \"Let's get our cash burn rate 1 An investigation to find out if under control\" others are already doing the same \"We need to exercise better crisis (26) Cash flow benefits thing management\" \"We need a competitive analysis (39) Corporate culture 1 Either increase in revenue or a decrease in costs 2 A decrease in before we begin\" 1 Acceptable behavior at a costs caused by a more efficient (33) Confidence in the future company production method 3 A 1 Assurance that a plan of action \"It's within the bounds of our production method that requires corporate culture\" impactmanagement.org

26 IMPACT Great m anagem ent lessons from D hirubhai Am bani Arun Kumar S.Davay - Founder and CEO, Mind Matters A Passionate Teacher and A Professional Trainer is an MBA Professional with several years Industry experience in HR, Marketing, Auditing and Finance. Faculty for MBA in various Premier Business Schools. Member of ISTD (Indian Society for Training and Development) Dhirubhaism No 1: Roll up situation that had gone out extremely vicious your sleeves and help. of control. Most bosses in propaganda by our peers, his place would have driven when on an almost daily You and your team share the up in their swank cars at the basis my business ethics same DNA. last moment and given the were put on trial. I, on my Reliance, during Vimal's manager a piece of their part, putting on a brave heady days, had organized a minds. Not Dhirubhai. front, never raised this fashion show at the subject during any of my When things went wrong, he Convention Hall, at Ashoka meetings with Dhirubhai. was the first person to Hotel in New Delhi. sense that the As usual, every seat in the But one day, during a circumstances would have hall was taken, and there particularly nasty spell, he been beyond his team's were an equal number of gently asked me if I needed control, rather than it being impatient guests outside, any help in combating it. a slip on their part, as he waiting to be seated. I was That did it. That was all the trusted their capabilities of course completely help that I needed. implicitly. His first instinct besieged, trying to handle Overwhelmed by his was always to join his men the ensuing confusion, concern and compassion, I in putting out the fire and chaos and protests, when to told him I could cope, but not crucifying them for it. my amazement and relief, I the knowledge that he knew Sounds too good a boss to saw Dhirubhai at the door and cared for what I was be true, doesn't he? But trying to pacify the guests. going through, and that he then, that was Dhirubhai. was there for me if I ever Dhirubhai at that time was Dhirubhaism No 2: Be a needed him, worked already a name to reckon safety net for your team. wonders for my confidence. with and a VIP himself, but that did not stop him from There used to be a time I went back a much taller rolling up his sleeves and when our agency Mudra was man fully armed to face diving in to rescue a the target of some whatever came my way. By impactmanagement.org

IMPACT 27 letting us know that he was out to him that a task distinguish between always aware of the trials seemed too big to be perception and reality, and we underwent and that he accomplished, he would his favourite phrase, \"dream was by our side through it reply: \"No is no answer!\" with your eyes open,\" all, he gave us the courage Not only did he dream big, underlined this. we never knew we had. he taught all of us to do so He never let preset norms too. His one-line brief to me Dhirubhaism No 3: The govern his vision, yet he when we began Mudra was: silent benefactor. worked night and day \"Make Vimal's advertising familiarizing himself with This was another of his the benchmark for fashion every little nitty-gritty that remarkable traits. When he advertising in the country.\" constituted his dreams helped someone, he never At that time, we were just a constantly sifting the wheat ever breathed a word about tiny, fledgling agency, from the chaff. This is how, it to anyone else. There tucked away in Ahmedabad, as he put it, even though he have been none among us struggling to put a team in dreamed, none of his who haven't known his place. When we presented dreams turned into kindness, yet he never went the seemingly nightmares. And this is what around broadcasting it. insurmountable to him, his gave him the courage to He never used charity as a favourite response was move from one orbit to the platform to gain publicity. always: \"It's difficult but not next despite tremendous Sometimes, he would even impossible!\" And he was odds. go to the extent of not right. We did go on to letting the recipient know achieve the impossible. Dhirubhai was indeed a man who the donor was. Such of many parts, as is evident. was the extent of his Both in its size and scope, I am sure there are many generosity. \"Expect the Vimal's fashion shows were people who display some of unexpected\" just might unprecedented in the the traits mentioned above, have been coined for him. country. Grand showroom in their working styles as openings, stunning well, but Dhirubhai was one Dhirubhaism No 4: Dream of those rare people who experiments in print and big, but dream with your demonstrated all of them, poster work all combined to eyes open. all the time. give the brand a truly His phenomenal benchmark image. But way Dhirubhaism No 5: Leave achievement showed India back in 1980, no one would the professional alone! that limitations were only in have believed it could have Much as people would like the mind. And that nothing ever been possible, except to believe, most owners was truly unattainable for Dhirubhai. (even managers and clients), those who dreamed big. But though he dreamed big, though eager to hire the Whenever I tried to point he was able to clearly best professionals in the impactmanagement.org

28 IMPACT field, do so and then use them as extensions of their own personality. Every time I come across this, which is much too often, I am reminded of how Dhirubhai's management techniques used to be (and still remain) so refreshingly different. For instance, way back in the late 1970s when we decided to open an agency asked. No suggestions statement, let me explain of our own, he asked me to offered, just a plain and Dhirubhai's \"orbit theory.\" name it. I carried a short list simple \"Go ahead and do it.\" of three names, two He would often explain that That was just the beginning. Westernised and one Indian. we are all born into an orbit. It was a very different world He continued to give me It is up to us to progress to back then. Everything total freedom -- no the next. We could choose Anglicised was considered supervision, no policing -- in to live and die in the orbit \"upmarket.\" all my decisions thereafter. that we are born in. But that In fact, the only direction would be a criminal waste There were hardly any that he gave me, just once, of potential. When we push agencies with Indian names was this: \"Produce your ourselves into the next barring my own ex-agency best.\" orbit, we benefit not only Shilpi and a few others like ourselves but everyone Ulka and Sistas. He looked His utter trust in me was connected with us as well. at the list and asked me what pushed me to never, what my choice was. I said ever let him down. I guess Take India's push for \"Mudra\": it was the only the simplest strategies are development. There was name that suited my often the hardest to adopt. once a time our country's personality. And the spirit of That was the secret of the growth rate was just 4 per the agency that I was to Dhirubhai legend. It was not cent, sarcastically referred head. out of a book. It was a to as the \"Hindu growth skillful blend of head and rate.\" Look at us today, I was very Indian and an heart. galloping along at a healthy Anglicised name on my Dhirubhaism No 6: Change 7-8 per cent. visiting card would seem your orbit, constantly! pretentious and contrived. This is no miracle. It is the No further questions were To understand this product of a handful of impactmanagement.org

IMPACT 29 determined orbit changers went to meet him and if on shoulder that did much like Dhirubhai, all of whose that day, all the time that he more than words in letting efforts have benefited a could spare me was a short me know that I belonged, larger sphere in their walk up to his car, he would that I had his trust, and that I respective fields. instantly put his arm around had him on my side! me and proceed to discuss In a small way, I too have Dhirubhaism No 8: The the issues at hand as we experienced the thrill of Dhirubhai theory of Supply walked. changing orbits with Mudra. creating Demand In the 1980s, we leapt from With that one simple He was not an MBA. Neither the orbit of a small gesture, he managed to was he an economist. But Ahmedabad ad agency to achieve many things. I was yet he took traditional become the country's third put at ease instantaneously. market theory and stood it largest ad agency -- in just I was made to feel like an on its head. And succeeded. under a decade. equal who was loved and Yes, at a time when important enough to be However, when you change everyone in India would considered close to him. orbits, you will create build capacities only after a And I would walk away from friction. The good news is careful study of market that meeting feeling so that your enemies from your expectations, he went full good about myself and the previous orbit will never be steam ahead and created work I was doing! able to reach you in your giants of manufacturing new one. By the time This tendency that he had, plants with unbelievable resentment builds up in to draw people towards him, capacities. (Initial cap of your new orbit, you should manifested itself in Reliance Patalganga was move to the next level. And countless ways. This was 10,000 tonnes of PFY way so on. just one of them. He would back in 1980, while the Changing orbits is the key to never, ever exude an air of market in India for it was our progress as a nation. aloofness and exclusivity. approx. 6000 tonnes). He was always inviting Dhirubhaism No 7: The No doubt his instinct was people into sharing their arm-around-the-shoulder backed by years and years thoughts and ideas, rather leader of reading, studying market than shutting them out. trends, careful listening and I have never seen any other On hindsight I think, it must his own honed capacity to empire builder nor the CEO have required phenomenal forecast, but yet despite all of any big organisation do generosity of spirit to be this preparation, it required this (why, I never adopted that inclusive. Yes, this was undeniable guts to pioneer this myself!). one of the things that was such a revolutionary move. It was Dhirubhai's very own uniquely Dhirubhai -- that The consequence was that signature style. Whenever I warm arm around my the market blossomed to impactmanagement.org

30 IMPACT absorb supply, the consumer benefited with prices crashing down, the players increased and our economic landscape changed for the better. The Patalganga plant was in no time humming at maximum capacity and as a result of the plant?s economies of scale, Dhirubhai's this was yet another unusual When you turn logs into conversion cost of the yarn skill of Dhirubhai's ? his lumber, sawdust is your in 1994 came down to 18 uncanny knack of knowing by-product and a pretty cents per pound, as exactly how the market is lucrative one it can be too! It compared to Western going to behave. is a very simple analogy but Europe's 34 cents, North extremely effective in Dhirubhaism No 9: Money is America's 29 cents and the driving the point home. not a product by itself, it is Far East's 23 cents and Work toward a goal beyond a by-product, so don't chase Reliance was exporting the your bank balance. it yarn back to the US! Success in attaining that A more recent example was This was a belief by which goal will eventually ring in that of Mukesh Ambani Dhirubhai lived all his life. the cash. For instance, if you taking this vision forward For instance when he work towards creating a with Reliance Infocomm briefed me about setting up name for yourself and (which is now handled by Mudra, his instruction was earning a good reputation, Anil Ambani). In India?s clear: 'Produce the best then money is a logical mobile telephony timeline, textile advertising in the outcome. there will always be a very country,' he said. People will pay for your clear ?before Infocomm and He did not breathe a word product or service if it is after Infocomm? about profits, nor about good. But if you get your segmentation. The numbers becoming the richest ad priorities slightly mixed up, say it all. In January 2003, agency in the country. Great not only will the money you the mobile subscriber base advertising was the goal make remain just a quick was 13 million, about 16 that he set for me. A buck, it would in all months later, shortly after by-product is something likelihood blacklist you for the launch, it had reached that you don't set out to good. Sounds too simplistic 30 million. produce. It is the spin-off for belief? Well, look around In March 2006, it has when you create something you and you will know touched 90 million ! Yes, larger. exactly how true it is. impactmanagement.org

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