IIM Americas Newsletter IIM Americas is a 501(c)(6) not-for-profit organization
Editorial Hello fellow IIM Alumni, Greetings !! It gives us immense pleasure to bring before you the seventh newsletter of IIM Americas. The objective of the newsletter is to be a platform where everybody gets a chance to interact with the wider
IIM alumni based in the Americas region. As part of ‘Meet a Thought Leader’ series we interviewed Raghu Krishnamoorthy. Raghu is Vice President of Human Resources at GE Healthcare Limited. Prior to this Raghu served as Head of Executive Development and Chief Learning Officer at General
Sameer Mittal Editorial Team firstname.lastname@example.org
Electric Company. We also bring you insights and learnings from the entrepreneurial journey of Sandeep Puri, IIM Bangalore’s incoming batch of 1988. In the Fun Company section of this edition we cover Pakible, Pakible is an effort to make designing and ordering custom packaging easy and pain-free. If you know an IIM alum and feel we should interview
him/her for the ‘Meet a thought leader’ section do write to us. The newsletter thrives on contributions from its members and hence we request your active participation in this forum.
Namrata Poddar Editorial Team email@example.com
We hope that you enjoy this edition. Thanks and Happy Reading !! IIM Americas Editorial Team
Contents Message from the President Meet a Thought Leader Meet an Entrepreneur Fun Company
Photo Gallery Chapter Contacts Trivia Nuts & Bolts Campus Update Life After IIMs
Aiming to build a stronger community network
Hello fellow alumni,
Message from the President
Greetings! On behalf of the Board of IIM Americas, I am delighted to share with you the highlights from Q3 2015 and our plans for Q4 2015. •
Change is our newsletter editorial team Goodbye Deepti: After two years of dedicated efforts, one of our editors, Deepti Thomas retired from the IIM Americas editorial team. Thank you Deepti for all your hard work and enthusiasm. We will miss you. Welcome Namrata: We are delighted to welcome Namrata Poddar to the IIM Americas editorial team. Namrata is an IIM Indore alum based in New York/New Jersey region.
Q3 Events Here are the events we held in Q3, 2015. • Brunch with Mallika Sarabhai @ @San Francisco/Bay Area, July 26, 2015 Mallika Sarabhai, an IIM Ahmedabad alum, is an internationally renowned dancer, choreographer, publisher, activist, writer, actor, and communicator. We took advantage of her visit to the Bay Area and organized a brunch in her honor. • Lunch with Dr. Sushil Vachani @San Francisco/Bay Area, August 8, 2015 Dr. Sushil Vachani, Director IIM Bangalore is an IIT Kanpur, IIM Ahmedabad, and Harvard University alum. He started his career as a TAS officer and worked at Tata Motors and The Boston Consulting Group before joining Boston University where he was a full tenured professor of Strategy & Innovation. We took advantage of his visit to the San Francisco/Bay Area and organized a lunch in his honor.
Upcoming Q4 Events • IIMagine 2015 – IIM alumni Conference in Boston on Saturday October 3, 2015 @Boston University, MA. You can find details here.
Ashima Jain President
Message from the President •
IIM-Connect 2015 - IIM alumni Conference in New York/New Jersey on Saturday October 17, 2015 @BNY Mellon, Manhattan, New York. You can find details here. here.
• IIM Americas board • Office bearers: • Ashima Jain (President & Director) • Jayant Swamy (Treasurer & Director) • Dr. Beena George ( Secretary & Director) • Other board members: • Suresh Madan (Chairman & Director)
• Hazurasingh Siviya (Webmaster & Director) • Tarun Mehra (Director) • Harish Narasimhan (Director) • Sonali Rathi-Pramanik (Director) • Social presence: Do take a minute to check out and sign up: • Our website (www.iimamericas.org) • Our LinkedIn group (http://www.linkedin.com/groups?gid=32204&trk=my_groups-b-grp-v) • Our Facebook group (https://www.facebook.com/groups/IIMAmericas/) • Our Facebook page (https://www.facebook.com/iimamericas) • Our YouTube channel (https://www.youtube.com/user/iimamericas/playlists) • Our twitter hashtag @iimamericas Stay tuned for announcements and information about our forthcoming initiatives! With best wishes On behalf of IIM Americas board Ashima Jain (President)
Meet a Thought Leader 1. Tell us something about yourself, your early days of career after graduating from IIM and the transition to being a Human Resource leader at GE? I graduate in 1983, most of my focus those days was to graduate in Finance and not in HR. However, virtually at the end of two years I decided to switch to HR. I was far more intrigued by the shades of grey in humans, than the binary world of Finance. Tapping into people's energy, their motivations, their issues, and their dreams has been a quest of mine ever since. My first job after IIM was with Escorts Ltd. the tractor manufacturer company. I continued with Escorts for few years and subsequently joined Modi Xerox. I was there about 6-7 years, while I was with Modi-Xerox I visited US as a Fulbright Scholar and went to University of Minneapolis and was there under the Hubert Humphrey scholarship. I returned to India and worked with Modi-Xerox for couple of months before joining American Express as head of HR in Mumbai. I was only 32 at that point and was the head of HR for a multinational banks' operation in India. I did that for a year and was reached out by GE. I was initially not interested as I was having a good time at AmEx but was intrigued by GE values and started with GE in 1994. My first three years with GE in India was as the head of HR for GE Capital. In 1997 my role expanded and I became the head of HR for Asia Pacific and moved to Hong Kong. After couple of years I moved to Minneapolis as head of HR for GE Fleet Services. Later I was promoted as the Head of HR for GE Money, consumer finance business based in London. I did almost 40 different acquisitions during my time there. After six years, I moved back to US in a corporate role as head of HR for sales and marketing in Fairfield. I worked closely with Jeff Immelt as he was championing a lot of work on the commercial side. After approx. 3 years I got picked up as the head of HR for GE Aviation based in Cincinnati. The role at GE aviation was fabulous we had global operations with a strength 0 almost 45,000 employees heavily focused on manufacturing and heavy union. After four years I got picked up as the head of executive learning and Chief Learning Officer for GE. In that capacity I looked after Crotonville and learning for entire company. I also looked after top 700 people in the organization, their succession, compensation. It is very carefully orchestrated at GE. I was almost the custodian of company's talent. I did that for almost two years and just last month I have been asked to lead the HR for GE Healthcare in London. Healthcare business varies across multiple domains right from Life Sciences, heavy Equipment to IT Software with approx. 60K+ employees in over 100 countries.
Raghu Krishnamoorthy VP, Human Resources GE Healthcare
Meet a Thought Leader 2. You got to work with Jeff Immelt the current CEO of GE, how do you compare his leadership style to that of Jack Welch?
Jack's key difference was really operational efficiency through six sigma. Second, Jack really allowed the growth of capital/financial services business. Jack has his own fines behind leadership and people management. These are the three key things that GE inherited from Jack. Jeff is a lot more global, we're in 175+ countries in the world. He is lot more customized. Given these are different times, Jeff is much more in the digital arena. And, Jeff has his own leadership theories which are much more agile, nimble and more contemporary. Different context creates different leaders, I would say Jack was absolutely perfect for his time and Jeff is absolutely perfect for the current times. Jack focused a lot on process innovation whereas Jeff's focus is a lot on product innovation. 3. GE has stayed competitive for more than 130 years, how does GE make sure itâ€™s ahead of the curve and continues to innovate on all fronts and not fall behind in the quest of innovation? One thing about GE is that GE has a very hungry culture, we always look at the glass as half empty and are never satisfied. It's got a small company mindset in a big company body and that makes us really entrepreneurial and willing to take risks and push the boundaries. For instance one of the things that I'm very proud of the work we are doing in the world of self-therapy. We are pushing the boundaries of using human beings body in one's own self to beat cancer. How it is forging ahead in terms of breakthroughs and what it can mean for cancer. I think the innovation in Jeff's era is becoming lot more local. For instance, the infant warmer can cost you around few thousand dollars in US but in India you have to make sure to keep the cost low to make it accessible for the masses. We have come up with a machine that is indigenously designed for India, in India that only cost $250 providing lot more opportunity. The reverse innovation part is something that Jeff has really focused on. 4. As a human resource leader what changes are you driving at the helm to make sure GE does not lose to companies in Silicon Valley when it comes to attracting the brightest talent? We opened a technology center for GE in 2012 in San Ramon in California. Most of the employees who come to work for us over there are people who have worked for Google, Facebook or any of those companies. I think the reason why people like coming to GE is the physical product that they are able to enhance with the power of software. But what we make, makes a difference to the world. No doubt Google is a great company, but the fact that GE's machine are saving lives and are proactively being able to diagnose life threatening disease like cancer provides a lot more sense of purpose. One realizes that one might want to work for Google because the work is sexy but one wants to work for GE because their work is inspiring. The sense of purpose is a huge driver, we have also made the performance development system contemporary, its on the go, its real time. It takes performance for the future rather than as an assessment or post-mortem of the past.
Meet a Thought Leader 5. Tell us something about Management Development Institute at Crotonville and your involvement with that?
The role Crotonville plays is to inspire, develop and connect our employees. The basic job of Crotonville is to drive culture and leadership. We bring people to Crotonville because we transform them and therefore the curriculum that one goes through is transformative and not necessarily educative. Everything that happens at Crotonville is an attempt to make sure that you walk in as an A and walk out as a B; and B is more than A+. Using neuroscience and cutting edge pedagogy; what we do is we allow people to go through a change process and expand their horizon. The connectivity they establish, the input, skills and the perspective they get exponentially expand them as leaders. When they go back they are dramatically thinking about the world landscape with an expanded horizon. That has been the tradition of Crotonville for a long time and this is where it stands today. 6. What advice do you have for recent IIM MBAâ€™s embarking on the corporate journey? I would say three things. First, go with your passion and not with your expertise. My expertise was in finance and my entire career has been in HR and I have never lived to regret it. I'm passionate about what I do. You better answer the question why you want to go in one direction before you head there. Second, people have to drive impact in whatever job they do. Impact in my word is doing something small every six months but doing something big every one year that distinguishes one from everybody else. It cannot be incremental but should be substantial. Third, In a modern world one needs to be a thought shaper and not just a thought leader. With the technology available one needs to be constantly learning and teaching at the same time. This enables one to build a personal brand and garner respect for ones thinking and leadership. Folks who come in the business world need to use themselves as a personal experiment for their own growth and be willing to take risks on themselves.
Meet an Entrepreneur Sandeep Puri, IIM Bangalore’s incoming batch of 1988 I have over 15 years of experience in telecom, financial services, and healthcare industries, with the last 7 years focused on developing healthcare services and solutions. I have led strategy, business development, marketing, and operations functions in a management consulting role, at large Fortune 500 companies, and at small and mid-size companies. I helped turn around struggling companies, enabled stable ones to grow, created new business units for some, and acquired & integrated companies. And now I am starting my own venture. My education and career choices have been driven by my desire to keep learning and to keep pushing the boundaries of what I can do and ultimately create solutions that solve big problems and positively impact lives. 7 years ago this is what brought me to the healthcare industry and I knew that I wanted to focus my energies in the present and in the future in this sector. The U.S. healthcare industry is a $3 trillion industry (about 17% of the U.S. GDP), it is estimated that 27% of this spend (about $800 billion) is wasted on unnecessary services, excess administrative costs, missed prevention opportunities, or inefficient delivery of care. Over the last few years, the Affordable Care Act (ACA) is attempting to make the system more efficient by shifting the healthcare delivery and reimbursement models from “fee for service” to “fee for outcomes”. Late 2013, I realized that in these new models, the healthcare providers would need to transform if they wanted to succeed, and that the ability to engage and communicate with patients outside the healthcare facility would be a key capability required for success. Given my CRM experience in other industries, and my co-founder’s IT expertise building CRM systems, we believed that we could help solve this problem by creating a more robust patient engagement and care management solution (than the ones available in the healthcare market). These solutions would include learnings from marketing science and behavioral science to enable personalized patient experience that would affect and sustain behavior change. This opportunity to positively impact the lives of people and to reduce the inefficiencies in the U.S. healthcare system is what made me choose to become an entrepreneur, and that is what drives me to stay the course. I am currently the co-founder and CEO of a digital health company called Patientriciti. My responsibilities at Patientriciti include leading strategy, product definition, business development, and sales & marketing. Patientriciti is a multi-modal, multi-lingual, patient engagement and care management solution that helps healthcare providers and payers reach and engage with different segments of the population in a personalized way to affect sustained behavior change. Patientriciti's programs educate patients on disease management, track and assess patient health status through a series of questions, analyze responses to identify care gaps, and reduce the burden of routine care management work by helping the care team focus on the patients that need help. We are an early-stage startup located in the San Francisco area with 10 team members, including my co-founder and me. Currently we are in the process of piloting our solution for market validation, after which we plan to raise funding to build our team. We welcome help and advice from IIM alumni who are in the healthcare space or who might be able to introduce us to healthcare providers or payers who could benefit from our solution. Founding Patientriciti helped satisfy my lifelong entrepreneurial dream. I’m excited because I am doing something I am passionate about. I find what I do very fulfilling - I feel like my work has purpose and I’m making a difference in people’s lives.
Meet an Entrepreneur I feel that I am constantly being challenged like I have never been before and learning new skills along the way – doing things that I did not think I could do. For example, I had not done much of direct sales in my career until I co-founded Patientriciti. However, after we developed our solution, I realized that no one can talk more passionately about our solution that I could, and I had to learn to become comfortable with the idea of being the primary sales person for Patientriciti. I learnt how to listen to and understand clients’ needs, clearly communicate how our solution can address their needs and overcome objections. I also learnt how not to take rejection personally. I am often asked how different the startup experience is from my previous corporate life. I’ll give you the clichéd answer – ‘VERY DIFFERENT!’ “The buck stops here” has a very different meaning as an entrepreneur. One bears all the risks and uncertainties that come with creating a new venture from scratch. There is the freedom and the exhilaration of creating something new and defining the culture of a new organization; however, it comes with the responsibility and stress of having complete accountability for the outcomes. Especially in the early stages of a startup – the entrepreneur has to wear multiple hats – from the CEO to the janitor, and everything else in between. Another big difference is that, as an entrepreneur, one has to be able to sell their idea well - to convince customers, investors and employees. At this stage, you do not have the benefit of a brand name or a track record, and you have to convince everyone to be part of your journey based on the power of your vision. Entrepreneurship however is a great teacher too! Firstly, I have learnt that entrepreneurship is a lonely journey; it helps to have a fellow traveler – a co-founder who complements your skills and helps you get through the hard times – and there will be hard times. It’s also a great idea to build your support group of fellow entrepreneurs to share and learn from each other, and keep each other motivated. Secondly, I have learnt that it is best to focus on a pain point that you can solve for your target customer segment, and solve it well. Your solution may be able to address multiple pain points for multiple customer segments, but, at least initially, it is best to focus on a niche area, and win in that space before expanding to other pain points or other customer segments. And third, I have learnt that despite the fact that a startup is a lot of work, you have to recharge your batteries regularly to make it sustainable – whether it is time with family and friends, working out regularly, or pursuing other hobbies and interests. My advice to aspiring entrepreneurs would be to not keep waiting for the “perfect” opportunity. There will never be a “perfect” opportunity or time. There are always reasons to not take a risk – career stability, family reasons, financial freedom etc. Find a good opportunity and take calculated risks – sooner the better. Secondly, think of entrepreneurship only if you are passionate about the idea and fully committed to it. The entrepreneurial journey is sure to be filled with hurdles on the way to your goal, and if you are not passionate and committed, you will end up using those hurdles as excuses to drop out. Lastly, make sure you set realistic expectations and timelines, and your family is on board and is supportive of the path that you have chosen.
‘Fun company’ !!! A ‘fun business micro-blog’ by Tarun Mehra (CEO, Fuld Omniscope and Board Member, IIM Americas)
Did you know that the size of the packaging industry is $850Bn? However, there are two issues with this industry: a) The industry is highly fragmented with thousands of suppliers, and b) Sourcing packaging is a painful experience that still operates over phone, email & fax, making it quite inefficient. I came across this fun company called ‘Pakible’ a couple of months back that was trying to make this whole process smooth and more efficient. This is their YC Demo Day video, if you are interested https://www.youtube.com/watch?v=F6fUtGitnfw, and this is what they say on their website how it all works:
The process (their technology platform thru their website) makes it simple for customers to customize their packaging, including text, logo, colors, etc. It also provides them with a few pre-designed templates. The website allows small and large companies to order quantities from 10 to 1,000,000 units at a click of a button. So, essentially, the process is the same irrespective of how large or small you are as a customer.
After an order is placed, Pakible handles the rest, i.e. getting the packages, boxes, containers built, typically within a week. The website also makes it easier to ‘reorder’ (one click) and ‘redesign’ (stored projects). In terms of traction, the company had sold 1 million units in the first 3 months of their operations and they were growing at 150% weekly till quite recently. They claim that a customer’s average ‘1st order’ is $46, and their average ‘follow-on order’ is $4,500. Name – Pakible (www.pakible.com), a Y Combinator-backed startup Industry – Packaging
Mission/ Goal – ‘CUSTOM PACKAGING, MADE SIMPLE.’. They claim that they set out with this goal after ‘wasting months struggling to source quality packaging for their previous companies’.
*IIM Americas does not intend to endorse this company in any regards
‘Fun company’ !!! What does the company do and what’s interesting about them: • Started in December of 2014 • Founded by Nick Carson and Phillip Akhzar, who used to work for iPhone and iPad repair startup iCracked. While at iCracked, they had done packaging for phone and tablet buyback programs, but found that it was tedious. • They claim to give users the power to design and order quality, custom packaging at low quantities for affordable prices. No set-up fee and no hassle. • The company has built out a network of multiple manufacturers and they pre-negotiate the pricing and process in a reverse bidding system. The users get the best product & price for their needs and the company handles it all on their behalf. • The users can avoid having to research and source different manufacturers that specialize in several areas, e.g. Packaging type (corrugated, bags, plastics, bottles); Print quality (digital, flexo, litho, offset); Short runs vs large runs; Price vs turnaround time • Akhzar’s comment, “Manufacturers have this highly optimized process with machines that produce the packaging. Once everything’s ready to go, they just churn them out rapidly with thousands of units an hour. They’ve invested a lot of money in this. But it doesn’t feel like any of them invested in the customer side of the business to actually help people to get started easily. That part is all over faxes and e-mails.” • TechCrunch wrote – “With e-commerce startups breaking into eyewear, beauty, shaving, monthly subscriptions products and more, there will be plenty of need for boxes and packaging.”
I hope you found this Fun Company interesting. If you like reading this, and have ideas, suggestions or feedback about this micro-blog, please feel free to reach out at firstname.lastname@example.org. We would love to hear your views on how to make this ‘more fun’! *IIM Americas does not intend to endorse this company in any regards
Photo Gallery Meet with Mallika Sarabhai, San Francisco
Contacts Atlanta Austin
Budhaditya (Adi) Gupta
New York / New Jersey
San Francisco / Bay Area
This is the updated list of our various chapters and the respective Chapter Contacts. If you’d like to volunteer or get involved in any way, please feel free to contact the relevant people.
ACROSS 8 Cupcake, Donut, Eclair, Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat, Lollipop, ______ (hint: evolution, android) 9 Microsoft recently launched the range of laptops called ________ Book. 12 Companies in this country are experimenting with a six hour work-day instead of the standard international eight hour day, to boost productivity and improve employees' work-life balance 13 In September, _____ , a virtual currency, has been officially named as a commodity, according to the U.S. regulator the Commodity Futures Trading Commission (CFTC) 14 Naina Lal Kidwai, the chairperson of ______, a foreign bank, recently announced her retirement after a 13-year stint DOWN 1 ________ replaced Google as the publicly traded company that will house Google's search and Web advertising businesses, maps, YouTube and its other ventures. 2 Coca-Cola, McDonalds have recently called for the president of this organisation to immediately step down 3 Twitter recently launched ________, its longawaited curation feature also popularly known as Project Lightning
4 Chief executive ______ (first name) has resigned over what is being dubbed as Volkswagen's 'Diesel gate' 5 Priyanka Chopra recently debuted on ABC's _______ becoming the first Indian actor to star on an American prime time show as its lead. 6 Sachinâ€™s ________ will play Warneâ€™s Warriors in three match T20 cricket series. The matches will be played in New York, Houston and Los Angeles and the event, titled "Cricket All-Stars Series 2015", will feature more than two dozen retired internationals from other Test nations 7 Martin Shkreli the CEO of _____ was momentarily the "Most Hated Man In America" when he wanted to increase the price of a decades-old drug by 5,000 percent 10 Shivinder Singh, the owner of ______ , a leading chain of hospitals in India announced that by January, next year, he will abandon the ownership and become a member of Radha Soami Satsang Beas. 11 _______ has pulled Donald Trump brand merchandise from its stores after the Republican presidential candidate's recent controversial remarks about Mexicans created a public uproar. 14 Board of this company recently approved the plan to split the company into two primary businesses. One focusing on printing and personal systems businesses and the other focusing on technology solutions. 15 _____Moon is sometimes used to describe a Total Lunar Eclipse. When the Earth casts its shadow on a Full Moon and eclipses it, the Moon may get a red glow. The next one will be in 2033
Nuts & Bolts
Opportunities for Sponsorships Thank you all for the continued support
Block Your Calendar â€˘ IIMConnect 2015, New York Saturday, October 17, 2015
towards your IIM alma mater and energized participation in alumni activities and events. As we are all well aware, IIM Americas is a non-profit organization, and sponsorship is a key source of sustenance towards meeting our objectives. Obtaining sponsorship for ongoing activities and/or specific
events is a continuous journey and your help in every way is much appreciated. If you have contacts and/or leads and would like to help with obtaining sponsorship, please reach out to Jayant Swamy, IIM Americas Board member (email@example.com) who is championing this effort for 2015.
Stay Tuned to http://www.iimamericas.org/events.ht ml to learn about more events.
Campus update IIM-Sambalpur Classes to Begin Today The New Indian Express Orientation class for the first batch of Post Graduate Program in Management of Indian Institute of Manage ment, Sambalpur (IIM-S) ... IIM Ahmedabad ranks 15th globally in Financial Times Management Rankings Economic Times The Indian Institutes of Management (IIMs) at Ahmedabad, Calcutta and Bangalore have been ranked at 15th, 16th and 26th places ... Punjab hires IIM-Ahmedabad to modernise prisons Hindustan Times The Indian Institute of ManagementAhmedabad (IIM-A) has remained the country's top ranked B-school since its inception more than 50 years ago IIM-B professor Rupa Chanda on WHO International Health Regulations review panel Economic Times Indian Institute of Management Bangalore (IIM-B) today said one of its professors, Rupa Chanda, has been nominated to WHO's ... Maharashtra's first IIM unveiled in Nagpur by CM Devendra Fadnavis - The Economic Times Economic Times First of the six new Indian Institutes of Management that the Narendra Modi government proposed last year was inaugurated by ...
Tech-Driven education in regional languages is crucial: Sushil Vachani, director, IIM Bangalore Economic Times This results in the need for tailormade management education. ... We plan to introduce transcripts in Kannada and other Indian languages to reach learners ... Why is it important for reputed institutes to take up such initiatives? Indian Institute of Management Ahmeda bad sets up JSW School of Public Policy Economic Times The Indian Institute of ManagementAhmedabad (IIMA) is setting up JSW School of Public Policy at the IIM-A campus with financial support ... Academy of International Business and IIMB Hosts 4-Day Meet on 'Global Networks: Organizations ... Financial Express Indian Institute of Management Bangalore and the Academy of International Business (AIB) is hosting the 56th Annual AIB Conference with 121 paper ... GMAC announces IIM Indore as their 10th member school in India Economic Times GMAC announces IIM Indore as their 10th member school in India ... XLRI, Xavier School of Managementand Great Lakes Institute of Management.
Life After IIMS Ishu (Arun Isukapalli) is an IIM - I '07 graduate who infrequently blogs at http://theishu.wordpress.com. He is a Business Analysis Manager near Washington, DC.