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Leaders do not emerge from a 3 day “Corporate Leadership Training”

August 22nd, 2009 | 1 Comment | Posted in Uncategorized

100_2020We all, at certain point of time, have attended highly over hyped “Leadership” trainings. Why over hyped? Cause most of these trainings do not add any value. Yes they obviously help people to learn some jargons and managerial talks but that is far from what leadership is. Wake up corporate. Instead of wasting money on these irrelevant redundant courses, build some processes to incubate leaders. This is one of the major criteria which immediately distinguish a great company from the rest. I have seen multi nationals who truly believe in grooming leaders and then there are the rest who chooses to show on paper how they care about their employees but when it comes to action or implementation, it’s simply not there.

One of the most popular activities in a leadership workshop is “Team Building” and invariably one of the instructors will come and throw this one liner “There is no I in a team”. This is where we all get it wrong. If “I” am not there in the team why should I even care for it? Now believe me I do understand what they mean by that but truthfully they are putting across a very theoretic point. Earth calling to idealists, come down, wake up, it’s no more a dream time. People were, are and will always be motivated by their personal needs. Especially when you are talking about the people you send to these trainings. We are not living in Utopia where Mormons and idealist saints move around. We have basic necessities to worry about. Don’t assume that everybody has reached their self actualization phase of Maslow’s hierarchy of needs. We still belong to the bottom three layers where the only motivation is personal needs.

Nobody ever defined leadership as selflessness if that be the case get some saints to run your company and within no time am sure your CSR value will go up, instead of the shareholder value. As an employee you are asked to align your personal goals with organizational goals, that’s fair enough if I was an employee my goal would have been to earn money, grow up the ladder, learn stuffs yada yada yada. But as an organization your goal should also be aligned with your employee’s goal. Only way to create that is a win-win condition. Don’t expect your employees to be selfless when organizations are certainly not. You can’t really expect everybody to forget about themselves and practice the learning’s of Geeta. Let’s be real or as Jack Welch’s mom used to say “Don’t kid yourselves”.

So enough of cribbing of what’s not being done and what’s wrong. Point is what’s the solution? How do great organizations groom amazing leaders? How do they continue doing it? Point is very simple they practice it. No not a 3 day course. A lifelong practice to cultivate a culture inside the organization. Empowering people, pilot testing their skills. Taking risks. Now there was this chicken that crossed the road amidst a speeding traffic. And there was this eagle story. An eagle laid an egg on the top of a mountain and egg rolled off and somehow didn’t break and landed up in a chicken farm. Now the eagle grew up thinking it’s a chicken. Grew strong had wide wings but never attempted to fly cause he was told to believe by fellow chickens that they can’t fly. Now this poor eagle used to stare and admire the high flying eagles from the ground. Now the bright employees are like that eagle, waiting to be unleashed. Now don’t send the eagle to the 3 day “Believe you are an Eagle” course, it won’t help  him. All he needs is confidence from the top, nurturing. Practicing and the eagle will fly. Let your employees fly. Have trust in them. If you let them they would not fly away from you rather take you on their shoulders while cruising down the blue sky.

Process of incubating the leadership and establishing a culture in the organization is not something a corporate would do for employee welfare. It’s for them. Having an energetic, motivated workforce would ensure your exponential growth. Today most of us reading this belong to the category according as Peter Drucker terms as “knowledge workers”. These people needs challenges every day to keep them motivated. A 3 day training and back to the same work is not a leadership grooming. It’s not magic. There is no shortcut. Structured approached of constantly taking risks and empowering employees is what grooms leaders.

By the way all the above views are of mine (Arnab Ray) and mine alone. If I have offended somebody then am sorry but I think I am making sense. In today’s dynamic world yesterday’s tactics are useless. Feel free to attack my views, support them, or comment on whatever you feel like. Would love to hear all of your reactions. You can also ask any questions if you have @ Ask-Arnie

7 Habits of Highly Effective Consultants

August 21st, 2009 | No Comments | Posted in Consulting

Consulting is one of the most challenging yet highly rewarding professions. Effective consultants show a number of definitive traits which are not only necessary to achieve success in this field but also are identified as the key differentiating factors which allows them to stand apart from the rest. I would like to go ahead and define consultants as really smart bunch of people with structured focus; the focus is towards clients’ satisfaction. Success of consultants is a direct function of their clients’ success. An effective consultant should always be outward focused. Understanding clients’ needs accurately and delivering the right results are the bottom line of this field.  Working hard alone doesn’t make anybody an effective consultant; it’s a delicate balance between diligence and intelligence. Bottom line: Work smart. More »

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The Business Planning Process

August 8th, 2009 | No Comments | Posted in Business Plans

business plan process

Business plans are decision-making tools. There is no fixed content for a business plan. Rather the content and format of the business plan is determined by the goals and audience. A business plan should contain whatever information is needed to decide whether or not to pursue a goal.

For example, a business plan for a non-profit might discuss the fit between the business plan and the organization’s mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization’s ability to repay the loan. Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.

Preparing a business plan draws on a wide range of knowledge from many different business disciplines: financehuman resource managementintellectual property managementsupply chain managementoperations management, and marketing, among others. It can be helpful to view the business plan as a collection of sub-plans, one for each of the main business disciplines.

“… a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business. Writing a good business plan can’t guarantee success, but it can go a long way toward reducing the odds of failure.”

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Why do you need a Business Plan?

July 30th, 2009 | No Comments | Posted in Business Plans

This might look apparently as a redundant article to “Usage of a Business Plan” but these two are different. This is mainly from your perspective, why you need a business plan. If someone assumes that a business plan is a management gimmick or a waste of time, they cannot be any farther from the truth. Business plan gives you the direction, the plan and many other vital decision making points discussed below. More »

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Outline of a Business Plan: Overview

July 29th, 2009 | No Comments | Posted in Business Plans

A business plan is a formal document which is best if follows a definitive structure. Although there is no hard and fast rules of following a specific structure but it always helps to get the information organized. Moreover the audience of your business plan is primarily a seasoned professional and would expect to see a definitive format. I personally take the conservative path of following a tried and tested structure which has worked in many scenarios. Here’s what I follow:

Outline of a Business Plan: Array Consultancy Services

Each section would be discussed in details in the subsequent posts. If you need any help in crafting any of these sections contact us. Click here

Uses of a Business Plan?

July 29th, 2009 | No Comments | Posted in Business Plans

There are many important reasons for drawing up a business plan. Some of the most significant are the following:

* Getting an integrated view of your business

By preparing your business plan, you get an integrated view of all issues regarding your business. For example, it helps you to identify better your target clients, outline your market segment, shape your pricing strategy and define the competitive conditions under which you must operate in order to succeed. Business planning ensures that all these considerations are consistent and properly harmonized. Also, the business plan process often leads to the discovery of a competitive advantage or new opportunities as well as deficiencies in the plan. Committing your plans to paper, ensures that your overall ability to manage the business will improve. You will be able to concentrate your efforts on any deviations from the plan before conditions become critical. You will also have time to look ahead and avoid problems before they arise.

* Mutual understanding within the management team

More »

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The ABC's of a Business Plan

July 28th, 2009 | No Comments | Posted in Business Plans

A business plan is a comprehensive, written description of the business of an enterprise. It is a detailed report on a company’s products or services, production techniques, markets and clients, marketing strategy, human resources, organization, requirements in respect of infrastructure and supplies, financing requirements, and sources and uses of funds.
The business plan describes the past and present status of a business, but its main purpose is to present the future of an enterprise. It is normally updated annually and looks ahead for a period of usually three to five years, depending on the type of business and the kind of entity.
It is a crucial element in any application for funding, whether to a venture capital organization or any other investment or lending source. Therefore, it should be complete, sincere, factual, well structured and reader-friendly.

What is a Business Plan?

July 26th, 2009 | No Comments | Posted in Business Plans

Source (Wikipedia)
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
The business goals may be defined for for-profit or for non-profit organizations. For-profit business plans typically focus on financial goals, such as profit or creation of wealth. Non-profit and government agency business plans tend to focus on organizational mission which is the basis for their governmental status or their non-profit, tax-exempt status, respectively — although non-profits may also focus on optimizing revenue. In non-profit organizations, creative tensions may develop in the effort to balance mission with “margin” (or revenue). Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. A business plan having changes in perception and branding as its primary goals is called a marketing plan.
Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers. External stake-holders of non-profits include donors and the clients of the non-profit’s services. For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the IMF, the World Bank, various economic agencies of the UN, and development banks.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
Operational plans describe the goals of an internal organization, working group or department. Project plans, sometimes known as project frameworks, describe the goals of a particular project. They may also address the project’s place within the organization’s larger strategic goals.
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Business Analytics

August 27th, 2007 | No Comments | Posted in Analytics

Analytics is the study of business data using statistical analysis in order to discover and understand historical patterns with an eye to predicting and improving business performance in the future. Some people use the term “Analytics” to denote the use of mathematics in business. This field includes the use of Operations Research, Statistics and Probability.Analytics closely resembles statistical analysis and data mining, but tends to be based on physics modeling involving extensive computation. Some fields within the area of analytics are enterprise decision management, marketing analytics, predictive science, strategy science, credit risk analysis and fraud analytics.

That was the formal definition, to me in a nutshell Analytics is giving the context to the data, pulling out hidden information or pattern in order to enhance business decisions. Technically speaking in involves clean and accurate data provided by technology (in crude form: spread sheets, files or in organized form: data warehouse or anything in between). This data can be of anything apparently might seem irrelevant but may be crucial to find a pattern. The technique of finding the pattern can be either through structured reports of Business Intelligence Systems or manual data crunching using statistical tools or softwares namely SAS, SPSS or Excel.

Analytics can be used in any scenario, any organization or any event in order to make a knowledgeable decision instead of going ahead with a hit and trial method. Analytics provide data driven decision making and also provide simulations (what if scenarios). But honestly I believe there is no replacement to a gut feeling (warning !!!! most of the times gut feeling may be wrong :-) )

There are many field analytics have come forward to help the business today in form of econometrics, financial modeling, risk analytics, marketing analytics etc. Each of them are huge subjects of its own.

Like we used to solve physics problem using statistics and mathematics, analytics is similar. We assume few rules like gravitation and have a approximate equation likewise we can assume a economic situation of supply and demand and take a approximate equation. Now changing the variables we might simulate different models. Its definitely not that simple cause in analytics the analogous gravitational equation is not given.

You can check out my friends blog who is an expert of this: http://ofdudeanddata.blogspot.com/

Managing Retailing

August 1st, 2007 | 1 Comment | Posted in MBA, Marketing

Check out this book, recently out in the market. Written by one of my professors, Prof. Dwarika Prasad Uniyal who taught me the “A, B, C and Ds” i.e 5 C’s and 4 P’s of marketing. Wish you guys could have attended his amazingly interesting and amusingly hilarious lectures. Published by Oxford, and available at stores in your city.

Managing Retailing is a comprehensive text book designed to meet the needs of post graduate management students. Based on original research, it provides an in-depth coverage of retailing theory and explains the key concept of retailing through numerous illustrations, examples, exhibits, tables, figures and case studies.

Key Features:

  • explores the issues faced by retailers in India and other Asian countries
  • includes chapter on category management, store loyalty and retail technology
  • looks at a store as a social unit with its own code of conduct, language and norms
  • provides detailed case studies and chapter end exercises with concept review and critical thinking questions