Monday, November 26, 2012
Wednesday, October 31, 2012
Well the title suggests some co-relation between the two judgement.
Yesterday Mumbai High Court delivered a judgement on VAT to be Payable by the builders. Therefore no relief to the builders for which the case was in court.
I have been observing since last few years, every court and consumer body are delivering judgement against the builder or builder body MCHI. There is a news about some or the other cheating by builders more often. Press is full of negative news about the builder community.
In such a scenario what is the role of MCHI or CREDAI? I haven't seen any advertisement in the press by MCHI other than their regular exhibition 3/4 times a year. That are the only times they are seen in the press. That's it.
What financial market regulator SEBI does? They are out in the press many a times during the year to educate and make investors aware about the market. They are concerned about the fraudulent companies and think that investors should not be fooled or looted by these companies and there fore education and awareness. These kind of initiatives build perception.
Rajat Gupta of ex Mckinsey got support letter from 400 top notch people of the world and his sentence was reduced substantially by the judge. It was only token sentence of Jail. His good work and his perception about otherwise individual conduct had an impact on the judge and it saved him from rigorous punishment.
Therefore if one wants to be seen and heard from the heart , perception in the market plays significant role. The way good perception helps to reduce the gravity , bad perception will act negatively.
MCHI talks about their consumer grievances cell. Why don't they publish data on how many complaints they received and how many issues were resolved? Why don't they come out in press periodically to make consumer aware about bad practices in the industries and dos and donts while buying home or dealing with builders? No concerns for consumers and only time to go to press is when they want to sale their products. This will not work.
Bad perception is being created by some of their members by their conduct and no effort to create good perception effort by some aggressive proactive action , how can you win trust of consumers, authorities and even courts?
Food for thought for MCHI to ACT and ACT proactively for the betterment of consumers at large and not only for the benefit of their members. Rajat Gupta and MCHI both are impacted by their perception - one positively and one negatively.
Tuesday, October 23, 2012
1. Robert Varda Must open up for SC Judge Inquiry
2. Govt Must work towards passing of Lokpal Bill acceptable to all parties may not be to Arvind Kejriwal
3. Govt Must speed up non FDI procedural reforms
4. 2 G and Coal Gate, CWG scamsters Must be prosecuted in fast track courts
5. Govt Must come out with VRS Scheme – Voluntary Resignation Scheme for their ministers before their scams are unearthed
6. IAC and Anna Hajare Must dig out all political, bureaucratic and corporate scams
7. Nitin Gadkari Must prove beyond doubt that nothing is wrong in his conduct of public life
8. BJP Must declare Narendra Modi as PM candidate and invite any opposition leaders to debate on TV
9. Educated class Must join politics – party of their choice and get more engaged in national activities
10. Cong Must find out PM candidate for 2014 election as MMS & RG are already discounted and found to be not competent
This will also make Media Free for more productive and positive reporting.
Saturday, September 15, 2012
Saturday, August 4, 2012
Our heartfelt tribute to Mr. Lalit Sheth (Owner of Raj Travels). This is very unfortunate incidence and shaken many who are in business world.
Are there any lessons entrepreneurs can learn from his sudden and tragic death ?
Well I think many.
Borrowing is easy but its servicing of debt and repayment of debt drown many families. Be it farmers in interior Maharashtra or entrepreneurs like Lalit Sheth, unmanageable debt is a killer.
We have many many cases of NPA and over borrowing and situation is close to alarming. As long as cash flow is sustained (not necessarily profit) one would not realise the gravity of situation.
How analysis of viability of the project is critical andkind of approach is disastrous. I have also known many such cases where entrepreneurs merely on the basis of gut feel ventured into the project , borrowed heavily than the project can sustain and ultimately they had to sale their even their personal assets , faced legal battle to save their mortgaged home and suffered socially enormously.
Lenders and bankers are also not playing proactive and supportive roles while lending and during the tenure of the loan. They have access to the critical data and can very well play a vital proactive role more than just collector of interest and then filing suit when something goes wrong. Prevention of foreseen disaster is a joint responsibility.
This kind of financial status is also very difficult to manage socially. There is a club run by a CA made up of entrepreneurs who are facing bank’s action and whose assets have become NPA. This kind of club helps their family members to realise they are not alone and learns how to face the reality and even come out of the same also.
Having a strong internal CFO is a must these days. I know many entrepreneurs in SME segment who do not understand the reading and implication of their balance sheet. Its very dangerous. Entrepreneurs must know their financial status i.e. actual and not fake as shown to bankers /tax authorities. Alternate MUST have CFO, absolutely dependable and proactive. He must see problem coming, warn the management /owner and know the corrective measures. SEBI is making efforts to spread investor education on a large scale but there is also strong need for entrepreneur education. Everyone is working for money but ignorance about its PLAY is wide spread.
Last but not least, I do not know what is the brand value of the Raj Travels? Must be very high. Such a great asset could have been leveraged to taken care of liabilities, atleast some. This is where CFO or Investment Banker can be of great help. Do you know what your real assets are !!!
This is written merely with the public information about Mr. Sheth’s grave financial situation we all have from news papers. No advice or analysis of his real situation. This write up might benefit some readers.
Wednesday, August 1, 2012
Either you or yr work has to speak up. Yes either MUST speak.
There are two kinds of brand building for all : self and product / services.
One is self promoter by its sheer nature or strategy. Aggressive advertising , marketing , self promotion , self talk etc. Making all out effort to be known among the target audience.
Second way is to do a kind work that speak for it self. It also requires speaking but here work speaks. Users of the work will speak and spread the word. When a company creates scintillating customer experience, its customers speaks. There was a saying that it is the best selling author and not necessarily best writing author who sells. However in times of powerful social media its the best writing authors will become best selling. Only sellers without the best content will be difficult now.
It is not always necessary that best sellers are not best content wise, however when users speaks rather than self /company , people believes most. Self sellers can be successful but when work sells - person and product not only reach up to the top but command respect also.
We have two shining examples of person whose work always spoke more than the self and they are on the top of their class : Guess?
Mr. Amitabh Bachchan and Dr Manmohan SIngh. Both r introverts , speaks less but cud reach to the top , sheer for the kind of work they did. You may add examples on both side.
Are you or your work speaks more than you?
Monday, July 30, 2012
Rajesh Khanna wud have very happy to see HOW countrymen who have forgotten him for last many many years do remember him in his absence. Kind of tributes flowing in even after 12 days on every channel , media and public shows indicates that as a nation all of us have lost someone special. Whose presence was not felt for all these years though his absence has created some vacuum in some-part of our life. Such was a power of the SUPERSTAR. Phenomenal = Unparalleled.
Though it’s not a right time of comparison between him and Big B , but yet its d right time to know the difference in approach towards life & success for everyone. This applies to individual as well as to companies too.
Yes phenomenal success comes with its own challenges. Be it individual be it company. When success hits your mind , mind stops functioning and thinking in balance. It takes over the realities, I become real capital in place of i becoming more and more humble.
Those who believes in rule of English language that I is always capital, often could not see changing world around them, forgets that the change is the only constant and his hampering of vision instigate creation of own world and vision of manipulated world. Instead of focusing on his own work in sync with the world and consumer taste with changing times unparalleled success makes one believe that , I can be on top come what may and whatever it takes.
Big B learned, of course may be with the precedent of Mr. Khanna and it took him 10 years to adjust to the realities and to appear in his new avatar.
In business world also there are these two traits visible in many top companies. Consumer taste changes & unless successful companies are capable to offer the food for changing taste of consumers, companies are going to fail sooner than later. Samsung over Nokia is the recent corporate example. Colors/Sony over Zee Tv , Facebook over Orkut and there are many such examples.
It happens if companies are not proactive but Challenge is how to bounce back once fallen from grace. However, most companies are not reactive enough in their approach to the market. If u fall and fail , its fine, how you bounce back is the real differentiator.
At the end it’s the Consumer who is the king and service providers must align to the consumer taste be it actor or companies. Taste of the exciting consumers change and taste of new consumers is any way new. Big B could align to both. Are there any examples of corporate Big Bs?
Friday, July 27, 2012
Tuesday, July 17, 2012
Today with his demise we have lost one of the great motivator of our times. His book 7 habits of Highly Effective People is the bible on inspiration and self motivation especially in the times we live.
His recommended habits in nutshell below.
His recommended habits in nutshell below.
No 1 Be Proactive.
We are in charge of ourselves. We are responsible – response-able. We can choose how to react to external stimuli, rather than being Pavlov’s dog – salivating at the light.
Covey says that keeping to your commitments – to yourself and others – is the clearest manifestation of our proactivity. If we commit to do something – do it. If we don’t want to commit to it – don’t commit to it. Integrity to our commitments is the clearest manifestation of our proactivity.
No 2 Begin With The End In Mind
All things are created twice – first in our minds and then in reality. We need to get clear on what we want – then create it. It’s goal-setting, essentially.
Without clear goals we are adrift. I reckon roughly 80% of people have no clear goals. They’re not bad people. They’re just won’t realise their potential.
No 3 Put First Things First
This is the high-payoff activities I bang on about endlessly. Not the crises, deadlines, interruptions and endless small stuff. We must learn to say “no” to everything that is not a high-payoff activity. Say “no” to others, and to ourselves. Do it pleasantly, smilingly, non-apologetically. But do it. Time actually IS our greatest asset.
No 4 Think Win-Win
In all relationships – business and personal. Life is not a zero-sum game. To win, others do not have to lose.
Do you have any win-lose relationships in your life? Turn them into win-win, or politely excuse yourself and go. Win-lose is bad for the other guy and bad for your soul. It’s actually lose-lose.
No 5 Seek First To Understand
…then to be understood.
People want to be understood, but few people do the understanding. Why not be one of them? When I meet people for the first time I make sure the conversation is about them, not me. Shamefully, I started doing this because it was suggested to me that this would help them to like me, as people like those who are interested in them. Fortunately, I now find myself genuinely interested in understanding them first. I enjoy understanding them. I actually like it. They seem to too. Maybe I really am a coach.
No 6 Synergy
1 + 1 = 3. We work better when we work together. I’d rather be in two ventures, sharing the profits with another human being, than in one venture by myself. I’m pretty good. I’ve got the test results to prove it. But I’m not that good. I lose perspective pretty quickly by myself. I miss things. I don’t see clearly. I am glad I am sufficiently self-aware to see this.
No 7 Sharpen the Saw
Take time to renew. You cannot work all the time. We need to rest, reflect, renew. So take some exercise, write a journal (a great idea), just play, or take time with someone you love. I’m rubbish at all of this. Someone said to me the other day they were leaving the office at 4pm to go home. I thought to myself – “what a luxury”. It’s not a luxury. It’s a necessity.
He first introduced the concept of circle of concerns and circle of influence.
wow!!! these were the thoughts he presented to the world in his best written book. Hats off. RIP Mr. Covey, you have expanded your circle of influence through your books manifold.