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Greetings!

#4. July 1, 2012

Mutual Learning Between Professionals and Entrepreneurs

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What it takes to be a Management Consultant?

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Build empathy at workplace for better results

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This World…

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General

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In this issue…

“All things are ready, if our mind be so.” ― William Shakespeare, Henry V 1

C. JoyBell C., once said, “There are two things we should always be 1. raw and 2. ready. When you are raw, you are always ready and when you are ready you usually realize that you are raw. Waiting for perfection is not an answer, one cannot say "I will be ready when I am perfect" because then you will never be ready, rather one must say "I am raw and I am ready just like this right now, how and who I am.” Waiting to perform some action some day is the luxury of inaction many of us inadvertently live. As a kid I read, “Standing on the foot boys and gazing at the sky, how can you get up boys, If you never try.” Look around. There are plenty of actions waiting to happen and shouting for your attention. Skip getting overawed by the enormity. Pick any one and take it to its natural conclusion. Gradually, you will make the world around you better livable. Ask Y. Start MAG – My Actions Game. Cheers, Rajiv Khurana Editor PS – Please don’t forget to send your feedback at rajivkhurana@vsnl.com. You may even call me at 9810211256.


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#4. July 1, 2012

MUTUAL LEARNING BETWEEN PROFESSIONALS AND ENTREPRENEURS

Dr. M B Athreya Professionals Qualified and experienced professionals are a valuable asset to every organization. Because of their professional Knowledge; Skills; and Values they can manage growth, with efficiency and reputation. They have much to offer to entrepreneurs. Entrepreneurs While government focuses on Policy and Regulation, the economy depends on business and social organizations for economic and social development. For achieving high business and economic growth, entrepreneurs are a scarce, critical resource. They start businesses. Many may fail. They preserve. Some succeed very well. As they grow, they employ many professionals. Entrepreneurs also have much to offer to professionals.

Dr. M B Athreya

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Management Guru. Former Professor - IIM Kolkata, London and Scottish Business Schools. Chair and Member of Government Policy Committees. Advisor to industry, government and NGOs.

Lessons from Entrepreneurs There are at least five things worth picking up from entrepreneurial firms. First, they bring in a personal touch. This helps overcome a sense alienation that can come from a formal, bureaucratic atmosphere, with the weaknesses of status consciousness; power; and social distance. Second, they have a degree of informality, which puts employees at ease. The organization does not work only through papers; procedures; rules; and regulations. Employees get a feeling of accessibility, accountability and responsiveness. Third, there is speed in both decision-making and implementation. When new opportunities arise, they can be quickly scanned; evaluated; accepted; or rejected. Once a decision is made, execution can proceed, without delay. Fourth, the entrepreneur is inclined to take more risks. His philosophy is to seek higher returns, by taking bigger risks. He is prepared for some bets to fail. Fifthly, the entrepreneur can take a long term view in decisions, such as on investment; acquisition; R&D; globalization, etc. Sometimes, this can extend to even a concern for providing for the next generation.


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#4. July 1, 2012 Lessons from Professional Firms As their businesses grow, entrepreneurs also need to learn some things from professionals. First, professionals bring in System-based management. There are four types of system, which can benefit a growing organization --Information; Planning; Operating; and Control System. IT enables rapid collection; analysis; and reporting of information. Based on futuristic information, Planning can become more accurate and reliable. Operating systems, based on SoPs; Manuals, etc. can improve the speed and productivity of Operations. MIS can help in comparing actual results with plans; analyze variances; and take corrective actions. Secondly, professionals go more by processes and less by personalities. Individual may come and go, but the processes will continue, until they are formally changed. With personindependent processes, operations become more reliable and predictable. Thirdly, professional firms work through an organization structure. The structure is designed based on goals; strategies; technologies; locations; and people. It provides for roles and relationships, with appropriate authority and responsibility. Fourth, professionals invest time, money and effort in Human Resource Development. A total HRD System includes HR Planning; Selection; Induction; Training & Development; Job Rotation; Career Planning; Succession Planning; Appraisals; etc. Fifth, professional firm try to identify core values, relevant to the business, and build an organizational culture. Existing and new employees are imbued with this culture. If a firm does not build such a professional culture, it is in danger of becoming a victim of personalities; groups; and politics.

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Convergence It is not that either entrepreneurs or professionals are perfect. Neither possess or practice their respective five strengths, described above, fully. But, the majority do. Otherwise, they will not survive and grow. There is a great opportunity for mutual learning, and convergence towards two useful types of integrated personalities. The entrepreneurs can evolve into “Professionalized” Entrepreneurs. This is happening in the current generation of business families. Similarly, the Professionals can grow into “Intrapreneurial” Professionals. They have to share the challenge of being both Professionals, as well as “Internal Entrepreneurs”. Such a partnership between the two can be of great benefit to the organization; all its stakeholders; and the economy.


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Rajiv Khurana

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CMC, FIMC www.thepersonnellab.com www.rajivkhurana.com

#4. July 1, 2012

What it takes to be a Management Consultant? Two young beautiful ladies were walking down the road. They saw a frog. The frog said, "Kiss me and I will become a Consultant". One lady bent down, picked up the frog and kept it in her bag. The other lady enquired, "Why didn't you kiss the frog?" The first lady replied, "Consultants are available a dime a dozen but a talking frog is rare".

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Amused or shocked! Much depends on which side of the table you sit. There may be hundreds of jokes in the corporate jungle or on the Internet about the consulting profession but globally consultancy is the most sought after career by the management students. And it is growing rapidly. Who is this consultant? A consultant is an expert or advisor who is hired and paid by a client to achieve a certain goal. Peter Block terms him as, "a person in a position to have some influence over an individual, a group, or an organisation, but also has no direct power to make changes or implement programs". Newer and specialized areas have been emerging for professionals to jump onto the management consulting bandwagon. Traditional avenues for management consultants are: Marketing, Finance, Systems, HRD, Operations, International trade, Organisation structure etc. Any young professional can choose to enter consulting through large multinational consulting firms, Management advisory services of major accounting firms, small and medium-sized consulting firm, Special technical service organisation, consulting division in management institutions, Become internal consultant in a large corporation, Carry out the consulting profession while teaching in a management institute, Create or join a small firm of consultants or be an Independent practitioner of consulting.


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#4. July 1, 2012

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Because of downsizing and outsourcing activities that have traditionally been conducted internally, companies are creating an unprecedented need for consultants. After all, the corporate workload doesn't diminish even when the number of employees left to deal with it does. Typical situation where companies need consultants are: Inadequate in house technical knowledge and expertise, limited resources or resources committed else-where, need to get opinion/advice/intervention of a more/broader experienced professional. Need to get on objective/impartial appraisal, need to gain assurance, guidance or counseling for new markets/business, stimulation/training from the specialized trainer, desire to introduce change/usher new attitudes through a consultant who can provoke/facilitate etc. The Consultant-client relationship can take place in four kinds of situations: 1. When a consultant is thrust upon a client. - e.g. The Managing Director of the company likes a person and asks him to start advising his company even though the need for such advices is not felt. 2. Clinical situation - Where just like a patient-doctor relationship, the client expects the consultant to use his expertise to examine the problem and recommend solutions. Later, the client follows the prescription of the consultant. 3. Engineered situation - Where the client is very clear about what to expect from the consultant and defines the parameters within which the consultant must operate. For example, project the sales volume of particular region over the next 5 years. 4. Collaborative situation - Where the client knows the in's of his organisation and the consultant knows the in-out's of various organisations and both join hands to work towards a common goal. Getting into employment of any consulting organisation is like any other job. The kicks are different if you intend to set up your own shop. Many people have done it very successfully but a majority still shudders to take such a risk. Prior work experience always helps to set up your show but in few of the emerging areas like IT, web technologies etc. your latest skills matter the most. By and large, the experience does matter. The more gray-hairs you have in India the better are the chances to succeed as a manager-on-daily-wages or as a manager-on-lease. Consider the following 'pros' and 'cons' to take your decision.


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#4. July 1, 2012 Management Consulting:  Offers the chance to be on your own.  Eliminates getting mired in company politics, red tape, bosses and bureaucracy.  Requires minimal capital investment (e.g., assume home office).  Allows you to control your time, both in terms of amount of work and schedule.  Provides opportunity for variety and travel.  Carries no mandatory or customary retirement age.  Offers potential for high annual income. You have to guard yourself against:  Intense competition, particularly in fields hard hit by corporate layoffs.  No built-in support system.  Lack of any organizational authority to implement your solutions or ensure that your recommendations will be carried out as intended.  No set schedule or routine.  Blurred line between work and leisure time.  Irregular cash flow.  Sporadic work flow.

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The following questions can help to examine your readiness:  Do you regularly read a number of publications or other material in some area that is of special interest to you?  Have you assembled a library on the topic?  Do you associate with people who are active consultants or authorities in your field of expertise?  Have you already tested the field?  Have you ever tried consulting on a no-fee basis, as a hobby or avocation?  Did you ever consider your own personal traits and interests to see how they might serve you as a consultant?  Have you ever thought seriously about what it would be like--and what it would take--to commit two or three years to develop a consulting practice?


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#4. July 1, 2012 Management Consulting is a profession where the entry and exit is very quick. People with narrow focus cannot sustain themselves. To be a success, you will need to have: • High intellectual abilities • Ability to understand people and work with them • Ability to communicate with and persuade the clients • Intellectual and emotional maturity • Personal drive and initiative • High integrity and adherence to ethics. The Institute of Management Consultants of India and the Consultancy Development Centre have already adopted the ethical practices, which members have to comply with. • Strong physical and mental health to cope with occasional excessive pressures. Today we hear about all types of consultants in the corporate world. They may be giving support in secretarial, administrative, security, housekeeping etc. Please note. They are not the consultants. They are independent contractors who are generally not expected to be expert in their field. A contractor is hired to work in tandem with a client's full-time employees who are doing similar or even identical work. Since the client generally expects output or production, rather than advice or strategic direction, contractors are often hired for repeatable, ongoing tasks rather than the more complex and conceptual projects associated with consultants. Indeed, at the very top or highest level of practice, consultants are usually associated with a specific belief system or body of intellectual work, which forms the core of their uniqueness as well as providing a foundation for their work and relationships. If, after honestly examining yourself, you still believe that consulting represents a sound career option for you, the best next step may be to get in touch with established consultants, particularly individuals who work in your field or a related area. Ask them what it was like to start their businesses, what skills and experience they found most valuable, and what, if they were to start all over today, they would do differently. Getting in touch with someone who is a member of Institute of Management Consultants of India makes sense. People still believe in the old definition of a consultant i.e. a consultant is the person who takes your watch to tell you the time and keeps the watch as his fee. And next time if you ask him the time, he will get into a retainer ship with you. Well, these are perceptions only. Ask some successful managers. Many would hold a hidden desire to become consultants one day.

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- Royalty free pics/clipart from office.com


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#4. July 1, 2012

Build empathy at workplace for better results Dr. Neelam Tikkha, Motivation and communication expert © Confidence Foundation

A group of Brahmins gathered to sacrifice a goat. A goat was made ready for sacrifice. It was cleaned, washed and garlanded. When they were about to start the sacred fire ritual( yagya) . They heard the goat laughing. They were surprised and asked, “What’s the matter?” Goat said, “What is the use of these yagyas?” Brahmins replied, “This yagya is for the well being of our family. Goat again guffawed and said, “The fruits of these yagyas would be destroyed. And it is also the cause of the vicious chakra of life ( life cycle of birth and death) I did all this in my previous birth and see my condition now. ” People gathered there, were surprised and said, “What do you mean by all this, please explain it to us in detail? Goat replied,” “I was a Brahmin in my previous birth. Once my son fell sick. My wife , to please God, sacrificed a goat for my child’s fast recovery. The mother of the lamb cursed me. She said, “In your next birth, you’ll be born a goat and would be similarly sacrificed. Moreover, you will have the memory of previous birth so that you feel guilty for your deeds.” I would like to refer to another famous example of Tulsidas. He was a passionate lover. He did not bother about the raging storm. He crossed the dangerous river in the dead of the night. He climbed to the wife’s bedroom window, holding the hanging snake, thinking it to be a rope. And lo! His romanticism and deep love was mistaken for lust by his wife. She could not empathize with him since she did not love him as much as he did. She thought it to be foolish to take so much risk just to meet her.

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True said! Many a times we do not place ourselves in other people’s shoes and do not know why and where the shoe pinches. We form our opinion and judgments based on our past experiences or what we think or feel about that person . We are not able to see the flip side of the coin. If we develop empathy for others most of our problems will vanish. We will also be rid of 7 sins mentioned in Christian mythology. The key to empathy is open communication. But we are in the era of speed and sms that creates more issues rather than resolving them. The society is turning sterile and losing human touch getting transformed into robots. The earth is getting transformed into a wasteland.


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#4. July 1, 2012

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Company Logos and their Meanings

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[Contributed by Naveel Goyal]

#4. July 1, 2012

You might think the arrow does nothing here. But it says that amazon.com has everything from a to z and it also represents the smile brought to the customer's face.

The term Upanishad means ('upa' near; 'ni' down; 'shad' to sit) sitting down near; this implies the students sitting down near their Guru to learn the big secret.

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The apple in this logo is taken from the Bible story of Adam and Eve, where the apple represents the fruit of Tree of Knowledge, with a pun on “byte/bite�. The star in the three corners on their logo represents the Mercedes-Benz dominance on land, sea and air.

Adidas three strips represent a mountain, pointing out towards the challenges than are seen ahead and goals that can be achieved.

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