Sunday, June 22, 2014

Howrah Bridge & Customer Experience

Role of a bridge is to connect between the two ends.  Role of the business enterprise is to fulfill the customers need. 

Yet Howrah Bridge built by the Britishers is beautiful. Its a monument.Its a viewers delight. However it need not be as long as it connects the two ends. Right??

Theme of my new websites is Howrah Bridge which symbolizes delight of an experience while fulfilling the basic need.  

There are many bridges in India fulfilling  the basic need but Howrah bridge is considered as one of the finest bridges in the country. Likewise there are many basic need fulfilling business enterprises in every segments for every customer. But if entrepreneurs want become a legend and monumental in what they are doing adding delight flavour in the  basic element is a must. 

Its easy in case of product design but very difficult and hence competitive advantage for service providers. Welcome to my latest website

Monday, June 16, 2014

Standard Feedback Form for EVERY enterprise !

Deigning feedback form is an art. These artists are rare.  

Its is not about HOW your company and your people are performing on a defined internal parameters. Customers are not interested in doing people evaluation job of your HR team. Do not limit their thinking by thinking of your feedback form designing team. 

It is all about how your company is achieving fulfillment of customers' need with ease and delight. Your questions should be framed to know all these three aspects and nothing else. 

Three questions with reasons of their answer. Period.

- Was the purpose of doing business with us achieved? 
- Was it easy to deal with us?
- Was the entire experience of dealing with us delightful?

Answer option should be either YES or NO.

This should be the standard feedback form all across the business. Let your customers speak and write more not your enterprise. Give them freedom to evaluate your performance from their perspective and not from your perspective. 

This is applicable to both customers and suppliers. 

Friday, June 6, 2014

Rs. 1 Black Money outside India = Rs. 6 NPA with Indian Banks

We are concerned about Rs.30000 crs black money outside India but what is our concern for six times of that amount lying as banking NPA? 

When Govt wants to draft a law against the criminals they should involve some of the hardcore criminals. Who better than them know the mindset of criminals? But since we cant do that we involve Police because they deal with criminals therefore second best to know their mindset.  

Similarly when RBI wants to deal with mammoth NPA problems they should not only involve branch managers who deals with borrowers but also should involve financial consultants engaged in fund syndication and advise entrepreneurs. 

New RBI guidelines of asset classification before accounts becomes NPA is interesting but these kind of guideline make banking extremely procedural and only compliance centric. Branch people are finding it difficult to address customer service properly and on top of that so many compliance , reporting & auditing is paralyzing the banking operations. 

Rather than spending time in data analysis of borrowers performance bankers remain busy with compliance and reporting. Asset classification etc is fine but RBI must change the way credit is being managed in the banks. 

Some of the pointers for practice need to stop and new practice to start:

-  Excess funding just because security is adequate should stop  
-  Non adherence of adequate promoters contribution must stop
-  Auditors must be made accountable for fudged data certification 
-  Smart mechanism to be in place to get data filed with Income tax directly
-  Relationship banking which is ignoring financial prudence
-  Surprise check of accounting data and factory/office  
-  Credit monitoring independent of credit processing and branches
-  Involving CAs in monitoring who can understand intricacies of accounting & implication of ratios.Branch people with their work pressure cant do proper monitoring. 
-  Making it strongly deterrent for CAs , Advocates and Valuers to certify wrongly
-  Active monitoring mechanism even during pre SMA 0 level. Bankers need to engage talent who can play consultative role with borrowers who lack financial prudence. 

There are four class of defaulters:

1) Willful Defaulters - Borrowing with malafide intentions (Must come down substantially)

2) Ignorant Defaulters - Borrowing without managing capacity , low financial acumen , not able to understand implications (Needs to be provided desired support)

3) Potential Defaulters - Not willful but neither genuine. Risk takers at the cost of bank's money (Must be monitored closely)

4) Genuine Defaulters - Market, policy and external factors makes them defaulter (Needs support for recovery)

Along with rigorous compliance and reporting , proactive engagement and consultative approach will yield better results in the management of PA & NPA both.

Wednesday, June 4, 2014

Mr. PM ignite human spirit not animal spirit

We very easily forget the very basic thing about our existence. We all are human being and therefore can and should not live like animals. 

Therefore the phrases killer instinct and animal spirit is highly misleading and I would say anti social phrases.  

We need human spirit to be ignited not animal. To those who want animal spirit to spread must watch animal planet channel to know how they live and whether we need that kind of spirit? 

Animal spirit and killer instinct make us kill one another make us forget about human sensitivity towards fellow human being. On top of that technology focus makes us forget human side of every thing. Recently I was reading a paper on 'How to make Healthcare Human Centric?' Entire process and business of treating human being has become inhuman - technology and money focused. 

Delightful Customer Experience and Pathetic Customer Experience - difference is - One is taking care of all senses and emotions of customers and other is inhuman ignoring all these critical human aspect of customers and treating customer just an object to make money. Companies that are winning in this space are engaged in human side of the business. If your company wants to become customer centric first step is to become human centric.  

All these call centers are another example of inhuman aspect of business. It irritates human and caller gets inhuman response in return from the person being called. In most organisations people are running for quarterly targets and in return not only get remuneration but lots of ailments. Excessive greed for speedy growth and higher return is ignoring human side of the story. 

"The most striking contradiction is China where, despite a fourfold multiplication in two decades in real GDP per capita from a low initial level, life satisfaction has not improved."    - Richard A. Easterlin University of Southern California and IZA 

The above observation by the professor clearly states - Happiness is not directly related with growth and development. Ignoring human side of the growth is what China model demonstrates. 

Development - Yes , Growth - Yes but process should not ignore that we all are Human Being first and therefore measurement of happiness is critical while pursuing ANY growth model.
Mr Prime Minister while mandate is for development and growth please keep approach of Being Human at the core. Involve your HRD minister to keep track on Human Happiness Index along with your growth initiatives.  

Tuesday, June 3, 2014

Wow ! & Weird ebook is up onsite - For Free

Happy to inform all readers that ebook Wow! & Weird is up on the site & available for free.  

All are welcome to visit the site and join readers club. 

Hope to see you there ASAP. Welcome to the new blog