Author Archives: IBS India

4D FRAMEWORK FOR A LUCRATIVE CAREER

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Hey you! Yes…I meant you. Eyeballing this article and thinking what’s in this for me! I’d like to share an anecdote with you to give a gist of what I intend to write about today. During my early childhood, my teacher gifted me a famous book by Stephen Covey. For a long time, it did not make sense of what he meant by “7 habits of highly effective people” but eventually it became the words of mighty power. So in keeping those words in mind I would like to start my interaction with you.

4D FRAMEWORK FOR A LUCRATIVE CAREER

While planning out our career, we constantly want to think with the end in mind. This implies being aware of how the present will affect our eventual goals. Every action we take and each association we form impacts our potential self. Though it’s vital to look forward in cases of career development, it’s equally important to reflect on how living in the moment will aid in accomplishment of our career goals.

Sometimes during the daily discourse of our career plans, we can easily get lost and forget about living in the moment. Whether you’re apprehensive about achieving a goal or getting your dream job, you must seize the moment to proficiently sketch out your career. The individuals you meet and the events taking place everyday can change your career in a bat of an eyelid. When you become too focused on looking ahead into the future, you can miss out on valuable breaks taking place in the present. Before you know it, you would have missed a big opportunity that could have been a significant change for your career!

Career advice isn’t one size fits all – what works for someone can be the cause of failure for others – but you can derive an overview on how to protect your professional self at different junctures of life. People in some occupations are able to respond perfectly; for instance: “I did well in school, got into a big college, did my internship, received a top scholarship, continued to work partly and study, eventually I became the most sought-after consultant in the state.”

But many others will have a rather different purview like, “There was no majestic preparation. I just took it one step at a time and tried to make wise choices.” That’s how it is for a good number of CEOs for large businesses, and it’s how it is for writers. There’s no definite pathway to victory—there’s not even an accord on the meaning of success. But I think most victorious individuals “planned” their careers by cultivating a few detailed behaviors in themselves as the time went by. So whether you are in your 20’s or nearing your retirement, we should always aim high and never stop in shaping and fine tuning our career, it’s important for us to know what “career-planning” means, and how to accomplish it.

For every internship and full-time job prospect, there are a slew of technical skills, experience, and competencies that a candidate needs to possess and highlight during the job search process. In case of MBA graduates, this becomes even more vital. Yet, there are also a set of high-level, general qualities that an apprentice has to exhibit in order to be the one to obtain the job offer, given that there are always more contenders who meet the criteria required to do a job well than there are candidates hired to do that job. I think it’s a process of developing the four dimensions shared below and using them as a framework to guide your day-to-day decisions.

In science, “Four Dimensions” are identified by, typically the three dimensions of space (length, height, width) and time. The fourth dimension, the dimension we live in, is rarely spoken of, because most people don’t know time is dimension as well. Taking a rough cue from this concept I have taken the liberty to redefine 4D into: Performance, Behavior, Competencies, and Intellect.

The Four Dimensions exist and are exhibited in all types of professions and conditions. They are defined for a broader level because they cover different context and forms of work, they can be used as a common framework and as a standard of measure across businesses, roles, levels of hierarchy, company objectives, and so on. They cover a wider, more holistic set of traits possessed by prospective aspirant or employee- most organizations mainly focus on diverse stages and characteristics of “performance”- as well as try to capture not only present skills and potential, but future prospects and the capability to discover and develop as a professional.

The Four Dimensions are like the four planes, each an independent entity and yet connected to the other. For example, we can link Performance and Behavior as one set of planes and the other ones linking Capability and Intellect, as shown below.

Concept is that at these are four areas where an employee or job aspirant can display skills and actions that are valuable to the business. He or she is capitalizing on performance (carrying out tasks, meeting objectives, delivering results), demonstrate ideal behavior (engaging peers, stakeholders, and clients with charm, maturity, and concern), applying a set of competencies (performing fiscal, budgetary or cost analyses, forming strategic and/or marketing campaigns, defining contracts, etc.), and showing intellect (an aptitude for fresh thoughts, problem-solving, and novelty, an knack of quick adaptation to new circumstances, acquiring new expertise and develop as a manager and organizational lead).

The rationale behind the Four Dimensions emerging on two sliding scales is that it’s very alluring to focus a good deal of one dimension at the cost of another. For instance, some professionals mostly worry about performance and fall short of fine standards of behavior – their solitary aim is to get results, achieve targets, form deals, etc., and they find their sense of worth and set their value to the firm in context of how they’ve performed, even if that meant they’ve been unsuccessful to acknowledge their peers, ill-treated their reportees, failed to guide and develop less skilled colleagues, and/or dealt wrongly with suppliers, partners, and customers, etc.

So we see that Performance and Behavior are what an individual does, whereas Competencies and Intellect is who or what a job applicant is.

4D Framework career

The Competencies category describes the sum set of abilities that a person currently has – his or her capability to do some work of with technical precision or expertise (everything from building a training module to making a PowerPoint presentation, coding a new piece of software, or managing a project).

Intellect, in this comparison, is a person’s aptitude to learn, make critical assessment, take in fresh approaches, and transform, develop, and adapt to new circumstances. Thus, it can be defined as one’s capacity to attain new capabilities, and it includes all the things we consider when we refer to someone’s intelligence, curiosity, and even wisdom.

In case intellect appears less functional for most MBA job aspirants, it’s worth recalling that the reason employers care about the academic achievements of students (from school percentages to CAT scores) is not essentially that those particular skills and knowledge are vital to carry out a certain job, but that success in the academic arena is an indicator of a person’s capacity to learn on the job, grasp new information, and arrive at new insights and ideas that assist an organization to develop and compete.

As with Performance and Behavior, in the context of the scale between Competencies and Intellect; it’s possible to have too much of one and too little of the other. One can be highly skilled and be able to multitask – very talented, by virtue of previous training and work experiences – yet lacking in capacity to adapt and learn, transform and grow in new directions (and emerge as a true leader in one’s organization).

It’s also a very hazardous spot for MBAs who rely too much on upholding their future potential rather than current proficiency, depending a lot on one’s general power for critical thinking and wisdom lacking the ability to spot to the fundamental, ready-to-use expertise and competencies that are needed on day one of a new job.

Wholly, the Four Dimensions are a useful framework for accentuating the complete set of traits that are required for MBA-level “awareness.” As a job candidate, you may face interviews that are restricted in subject (e.g., consulting case study that requires basic market understanding, or finance interviews that involve the candidates ability to analyze stocks), but a “behavioral” interview (about candidate’s past experiences, track record, existing skills, personality, and future potential) is a platform to use the Four Dimensions.

I feel, the finest interviews are those in where a candidate has the chance to emphasize on instances from all four dimensions – presenting a high result oriented track record and a winning streak (Performance), sharing instances of supporting peers, serving clients, care for all stakeholders (Behavior), recognize  skill sets and expertise that is relevant to technical tasks or business-building endeavors (Competencies), and stressing on experiences and expertise developed till date, and also the capability to learn new things, be creative, and widen personal and professional horizons (Intellect).

If you’re ever at a loss for a narrative framework to depict your capabilities in an interview (outside the chronological sequence recommended by the question, “Walk me through your résumé”), I advise re-reading your résumé and identifying pointers which highlight your Performance, Behavior, Competencies, or Intellect. Select the most convincing examples of each of the Four Dimensions (from professional, academic, and extracurricular activities), and throw light on your persona of being a well-balanced and aptly able professional who can engage others and eventually take on a senior role the business as it develops and evolves to face new challenges.

 

Contributed by Deeba, (Class of 2013, IBS Gurgaon)

The Artful Dodgers

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Why Salman Khan Ran for 13 years and How Rahul Yadav Had a Tantrum

May heralded more than the scorching heat of summer. Two significant events ruled the headlines in the first fortnight of the month. One was the conviction of actor Salman Khan for a hit-and-run case that took place in 2002, In the second incident, a relatively unknown Chief Executive of a me-too start-up property portal, had a tantrum, resigned and then withdrew his resignation,throwing the world of venture funds into a tizzy.

Why Salman Khan Ran for 13 years and How Rahul Yadav Had a Tantrum

Khan’s case is still sub-judice (in fact it is building up into a fine case of whodunit) so we shall not really get into discussing the merits of the case as such but let us rather draw on it as an example for our case study  – based largely on the limited and speculative knowledge of the ubiquitous media. For those of you who are aspiring to join a business school and thoseof you are in the midst of it and on the verge of graduating – be warned. There is a lesson in this – and I am not talking about drunken driving (though of course, there is that too).

Thou shalt commit mistakes; it’s part of living, you can’t escape it. (That is however not the lesson). All of us are guilty of having committed some mistakes – some grave and some not so grave. Some mistakes however do harm to other people and then that creates an added dimension to the problem. However, mistakes are never intentional, they just happen.

What happens next is more important and that is where the lesson is. How do you deal with it? Do you own up to it? Do you pretend it hasn’t happened? Do you ignore the problem, thinking that it will go away? Or do you build up a fantastic case of alibis and witnesses all swearing that you did not have anything to do with it?

If we take the last alternative, it requires quite a bit of planning, money-power and you have to rely on somebody else’s integrity not to give you away. Which, seems rather a contradiction in terms because their integrity has already been bought by you; and once bought, it is always up for auction to the next highest bidder. You can truly hide your misdemeanours only if you are the only person in the knowledge of that and even then, circumstantial evidence can always point your way.

Making a real-life comparison, we will assume that there were witnesses to your transgressions. If shutting them up is not a solution – you have the choice of owning up or not. If you do not own up, the people whom you have harmed are sure to take action against you – because you have compounded your error: doing it and not owning up.

Let’s take the hit and run case. We shall assume for the sake of argument, that Salman was guilty as the sessions court has held., What if he had admitted guilty in 2002? Remember, those days there were very few television channels; media activism was not as hysterical as it is today; celebrity bashing was not a popular pastime. He would have probably got a year or two for manslaughter (accidental killing without wilful intent)., He could have spent half of the time out on bail. He could have got off very lightly. Instead of which, for the last 13 years the case has been hanging over his head and continues to do so, along with all the ugly publicity.

Now what happens if you own up? There is no guarantee that the legal system will deal with you leniently because you have admitted your guilt. Let’s look at the positives though. Since you had no wilful intention to harm, this is one factor in your favour. If you are prepared to make  amends to those who suffered due to your actions, it is quite possible (again there are no guarantees) that they may not take action  against you. You are in a stronger position (morally speaking) to negotiate. Most of all, you have the satisfaction of knowing that you have stood your ground and had the courage to face a crisis. .

Running away is never a solution; it is, in fact, an admission of guilt. Never run away from a difficult situation. That’s lesson number one.

Rahul Yadav, the reinstated CEO of Housing.com (his financial backers persuaded him to stay on), told his employees on the day that he withdrew his resignation, “I’m still your CEO. Have fun.” Seriously? Would you like to continue to work for such a man, who has such a high-handed attitude?

Just to fill you in on the details, Rahul Yadav is one of the dozen-odd co-founders of the property search web portal and the CEO of the company, which was set up in 2010. It has been in the news recently for the large amount of funding it got from venture firms including Japan’s Softbank. Yadav, an IIT dropout, seems to have a volatile temper. He also  has a disposition that makes him have frequent run-ins not only with his co-founders but also with the investor community. He acts the part of the  typical arrogant super brat entrepreneur-in-a-hurry, who is out to change the rules and make it big.

Arrogance is acceptable in an established genius who has proved his or her superior talent again and again..But, rude and crass behaviour is never – and I repeat, NEVER – acceptable. I know that there is a certain glamorous appeal associated with the image of a haughty, swaggering, self-opinionated, and aggressive go-getting entrepreneur but you have to draw the line at being abusive, insulting and throwing tantrums.

Which is what Yadav did.Since he couldn’t get the board members  to agree with him about certain decisions regarding the company he quit, telling the board (and investors) that they did not have the intellectual ability to have ‘sensible discussions’. That behaviour is like that of a child refusing to play with his mates, because they don’t listen to what he says.

This is another form of running away.

What do you want to be known for?  What do you want to be known forFor your achievements in the company or that you are having frequent arguments with your co-workers? Or that you would rather quit than face the opposition? Let’s face it – nobody likes to work for or with a person who has an uncertain temper and is likely to fly off the handle at the least provocation. You have to be a person of extraordinary talents and abilities for people to tolerate that kind of behaviour.

And anyway, why do you need to be unnecessarily aggressive with people? Evidence shows that many overtly aggressive personalities have an inferiority complex or are insecure about their abilities and position. They often use that aggression to hide their perceived shortcomings.

You can achieve more with a softer approach and being polite than shouting at people and ordering them around. So every time you feel the urge to hammer down the opposition by raising your voice and making personal remarks – stop, think and reflect.

And never quit because you feel unable to convince others of your beliefs and convictions. Being a quitter is as bad as running away. That’s lesson number two.

Meanwhile Housing.com is looking around for CEOs. Care to apply?

Contributed by Janaki Krishnan, an entrepreneur in the education and skills sector. Prior to this she was a business journalist. Writing continues to be her abiding passion

Tangible Branding

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TangibleMORE SUBSTANCE, MORE SHINE

‘Seeing is believing.’ The idiom above, which first came on the scene in the early 17th century, intends that “only physical or concrete evidence is convincing”. In other words, it is the substantial that is perceived and readily accepted as real. To distinguish the physical from the spiritual, the palpable from the impalpable, the form from the formless, the human mind heavily relies on the senses. What is definite to the faculties exists and is tangible.
Lairesse’s Allegory of the Five Senses
However, it is not an impossible task to capture the obscure outline of a shadow on the wall and transform it into an expressive graffiti. That is to say- what is intangible can be made tangible.

Tangibility as an induced characteristic manages to lend substance to an otherwise elusive entity, bringing it into clearer existence. Brand is one such entity.

With so many rival brands offering competitive products, providing similar and frequently superfluous experience in a market, it is all too easy for a brand to get lost in the noise of commonness.
I do not admire greatness that has no substance. ― Mary Balogh
To truly come alive, the brand needs to gain a foothold in the customer’s perception of the physical world. For that it must aim to deliver utility. The brand must become tangible.

Tangible brands cultivate a deep distinctive connection with the consumer. There is a tactile sense to each interaction. The brand comes across as a living, breathing person, ready to help with its unique tools to solve or satisfy.

Such tangibility, when associated with a brand, provides many opportunities to augment customer loyalty. The customers tend to invest more, both emotionally and financially, once they think of the brand as singular.

Brand Tangibility is vital in order for a brand to convey itself as being ‘of this world’. A tangible brand is coupled with a definable feeling which is unique to the company. The more useful and relevant a brand, the more customers are likely to get attached.

TOMS presents shoe-shoppers with a chance to absolve their social conscience by participating in a philanthropic purchase. For each pair of shoes sold, the company donates a pair to someone in need. The details are shared with the buyer on his phone, post purchase. Customers have noted a feeling of accomplishment wash over them when they see the physical proof of the donation in their name.

The presence tangible brands seek to maintain is long-term and personal. Brand leaders chose to provide utility by staying up-to-date with their customers’ needs and attitudes. They embrace technology, acknowledging it as the reshaper of the human experience, and master online and offline marketing strategies.

The need to integrate tangibility is even greater for a service brand. Service brands struggle with brand penetration since their product offering has little or no differentiation. The senses are deprived of things to touch, feel, hear and experience.

Moreover, consumers take notice of the service only when it malfunctions, finds a study conducted by Utility Week. A tangible aspect, when incorporated, allows the service brand to differentiate itself on the basis of an identifiable physical presence and emotional connection. To enhance the brand tangibly, the goal should be to educate, entertain or inspire the consumer.

Tangible Branding can be defined as the art of making the brand seem more tangible to its customers either by way of inciting the utility of the brand or by giving the brand a uniquely interactive voice or face.

Building a tangible brand requires an Industry Analysis, that is, a fair assessment of tangibility of the product/service provided in comparison to one’s competitors in the market-place.

Uber managed to take a tough-to-please service like transportation and give a favorable cost-to-experience ratio by delivering solutions for the common industry headaches like driver unreliability.

Tangible1
Design is another important marketing strategy employed by tangible branding.

Smart-e set up an Energy Conversation Centre in Guilford, giving a brand with previously no tangible value a chance to physically interact with its consumers. The founder, Dave Nugent says they try to provide services that suit customers’ every day usage and that convey an energy ‘harvesting’ or energy generation message. Since no customer likes the hard sell, the centre incorporated tangibly expressive elements (infographics, light-up tiles, see-through heat converter pipes) in the centre’s décor to resonate with the idea of energy consumption and conservation. The centre also boasts of a gym which shows, for instance, how much cycling will power one hot shower. The play area has a conveyor-belt slide which lights up from the kinetic energy of the children’s movement. The company created a place where their customers actually wanted to be! What is more, the centre’s hard work made the real value of the brand visible to the customer. The intangible was made tangible through innovative design which could be felt and seen. Tangible Branding also resorts to Tangible Marketing, which is the use of promotional items (like branded stationary or personalized items) to contribute to brand recognition and customer loyalty. Going above and beyond shows the company’s willingness to put efforts to earn and keep a prospective client.

Creating a memorable marketing piece requires selection of a creative Gift and/or attention-grabbing Tagline. A good example of tangible marketing would be the silicon Livestrong bracelets. The custom statement-on-a-wrist turned out to be very successful as a fundraising tool for the cancer awareness cause.

In order to highlight tangibility, most retail brands nowadays propose loyalty cards to their customers, inviting them into the exclusive club that is their brand.

Furthermore, the Social Media platform has proved very useful for improving tangibility of a brand through customer networking. Brand forums online readily offer help to consumers and deliver speedy solutions. The idea is to expose their target audience to their tangible brand elements and what they stand for.

The literal personification of the brand results in Mascots. Where logos are the tangible elements of a brand, mascots are their tangible representatives. Think of a Ronald McDonald and you inevitably think of McD burger/fries. The mascot and the product by association, both embody the brand value of happy times.

In this way, extending to a physical presence can amplify the commercial and competitive value of your brand. More substance, more shine.
A question arises, however.
How do you know that you, as a brand, are in fact tangible?
People today are bombarded with so much Advertising and in a world where a plethora of brand choices prevail per vertical. It really is hard to get the true picture of tangibility. What makes you real is the tangible of intangibles which, however easy to materialize, is difficult to measure. The real question to ask, therefore, is Will they miss you when you are gone?  Answer this and you will know where you are on the brand tangibility scale. Tangibility is not a wishful thinking. It can be brought into the daylight out of the shadows. It is just a matter of filling in the outlines. It is just a matter of showing.

For, seeing is believing.

Contributed by Ankita Verma, (Class of 2009, IBS Hyderabad)

5 steps to build your own brand

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You are a product. Be wanted! 

You may be a star in whatever you do. You could be a great academician, a skilled sportsperson or an artist — but in an MBA college, you are just likeeveryone else. It is easy to get lost. So do not waste yourself — build your brand and be remembered.Brand

Most of us think the world will recognize us for our achievements and everything will be fair in the end. Sometimes, it is too late before we realize that ‘fair’ can be a ‘fairy tale.’

If you want to create your own brand, ask yourselves these five simple questions:

  1. Are you capable of making noise?

If we are capable of doing something or we actually do something, let others know about it. It is of nouse to work in isolation and wait for the world to recognize you. We need to recognize ourselves before that. Telling others what we have achieved and how they can benefit from it is a win-win situation for all. The best way to do this is to spread your achievements through word of mouth. Impact is only a “good-to-have” unless it is communicated to the right people.

Case: Suppose you play guitar and there is an annual festival in your college. There may be 50 others like you.So how do you differentiate yourself? Do not wait for the auditions and competition. Start making people aware of your guitar-playing skills from day 1. By the time your annual festival takes place, people already have your name in mind. This way, you would have already established your brand for a particular skill. And when the time is right, leverage the opportunity and buildyour visibility.

  1. Are you honest and simple?

According to a research, the most effective way to reach consumers is not through detailed and complex websites orflashy advertisements, but rather through simplifying the decision-making process; in other words, presenting exactly what consumers need to know, while leaving out the rest. In fact, this research reveals that companies who simplified and streamlined the decision-making process for their customers were 86% more likely to make a sale. We are like products — if we are simple to use, people will find us more suitable for their purposes. So we need to make sure we do not come across as complex personalities. Be approachable and honest. By honest, I mean never making false promises about our capabilities.

Case: One of my classmates in college appeared for the placement cell interviews, theatre and dance competitions, and commerce fair. People thought he was an all-rounder. He created a great image of himself.  Unfortunately, he could not make it anywhere. I remember him quoting – “I should have kept my focus and not rushed for everything.” ’Less is more’ truly applies here. Our capabilities should be simple, effective and true.

  1. Are you generous and considerate?

Do you believe in giving back? When we think of the Tata Group, we do not only talk about its products, we always mention its in-depth approach of giving back to society through CSR activities. People know you more when you make a difference to their lives, rather than taking from them to make a difference to your life. So your brand building is directly proportional to what you do for your classmates, your professors, your flatmates, your maids and even your toughest competitors.

Case:During the selection of our class representative, students voted for a classmate who was not an expert in studies or possessed any significant leadership qualities. He was a people’s person, showed empathy and had created trust in fellow classmates. The opposition contender who had a great rapport with professors and an image of a strong leader lost in this case. I learned then – a leader always takes his people along.

Branding

  1. Are you dependable?

Times always tests you when you are least prepared for it. These are the times when you need to be dependable and exhibit commitment to the people who have shown faith in you. You are their role model; they will talk about you in front of others. You should never let them down by taking any hasty decisions. It is not necessary to win for them, but they want you to fight for them till the end. If you find your team member missing from the group presentation day, that person is not dependable.

Case:In 2006, ViratKohli continued to play his batting innings even after hearing the news of losing his father the same day. His deep level of commitment and determination created a great brand for him. This incident may be lost, but the people involved here will remember Virat’s commitment for their lifetime.

  1. Are you the future?

A very important aspect of creating your own brand is to focus on both the present and the future. People’s trust is long-term. We do not want to be a wave, but want to remain and be remembered forever. Consistency is what distinguishes you. Achieving this is very tough. It demands great courage and sacrifice, as we tend to falter when boredom hovers around us. People with great brands remain consistent in their ability to deliver. They also keep innovating with their delivery methods.

Case:The best example of a brand that comes to my mind is the Indian Army. Many in the Indian Army have forgone their family pleasures and sacrificed a civilian’s life to protect our borders.In my opinion, they are the most consistent people and will be remembered forever. Their brand will remain intact.

Your MBA and professional career will provide you various opportunities to build a brand for yourself. Stay simple, consistent, emphatic and dependable to touch other people’s lives. And you shall be a winner everywhere.

Contributed by Virag Jain ( Class of 2010, IBS MUMBAI )

LATERAL THINKING AND CREATIVITY

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In today’s competitive market companies not only need skilled people but needs employees who have lateral thinking and are creative so that they can provide creative solutions. Below article will provide you a brief overview of lateral thinking and creativity as it is an important skills which is needed by MBA students to come up with ansolution of a difficult situation.

What is Lateral Thinking?

Think of a railway track; it consists of two parallel lines running alongside each other separated by a narrow gap. A train has to run along that track; if it goes on either side it will derail.Creativity

Our thoughts or the way we react to events can be likened to that railway track. They run along defined boundaries and the reason for that is the conditioning that we receive early in our lives and our experiences.

Most of us go through our lives with more or less similar experiences and incidents. About 90% of us can relate to one other because our lives follow a similar pattern allowing for some individual quirks and differences. These patterns are established very early in life and most of us are unable to break out of it or do not want to break out of it because we find comfort in things that are familiar. To be honest, there is also no particular need for us to move out of that pattern that we have set up for ourselves.

The ‘railway track’ mode of thinking also arises from these circumstances. The predictability of our experiences circumscribes our thoughts and over a period of time, we are incapable of moving out of that parallel track. If we need to think differently, we need to derail our minds so that it jumps out of the track. And that is the crux of lateral thinking or what has come to be known today as ‘out-of-the-box’ thinking.

The Dynamics of Lateral Thinking

When we speak of people being creative or creatively inclined, we are talking about people who do not think along conventional lines because they have jumped off the railway tracks. By some quirk of fate, they perceive things differently from what the majority of the population do. You must understand that there is nothing abnormal about these people – it is nothing more unusual than being left-handed among a largely right-handed world.

What does lateral thinking actually involve? Is it merely being able to think differently and perceive your world differently? Well, that is part of it. Those are just the ingredients, which go into lateral thinking. Lateral thinkers have their brains wired differently from most of us. This enables them to not only have a different world-view, but also have a different perspective on events.

The main objective of lateral thinking or what in corporate circles is called ‘value proposition’ is how it affects the way we solve problems. Are we getting results out of that lateral thinking? Is it making us more efficient at solving problems?

Let me give you a very simple example. Most of us take the same route while going to college, university or work. You may be walking or taking a cab to the nearest bus or railway station and then taking the train to your destination. Or, you may be driving/be driven to your college or workplace. Or if you are very lucky, you may just have to walk around the corner to reach your journey’s end.

Whatever the mode, the fact is that we invariably follow the same route. That is because we like safe, predictable things, we like routine and it is also less trouble.

How many of us actually try to find out different routes to go to our institute or place of work? How many of us experiment with different modes of transport to see if we arrive faster or even slower or have a more stress-free journey? How many of us think of varying our routine even slightly just in order to get a different experience?

The answers to these questions will give a glimpse into the way lateral thinking works. As a lateral thinker, your mind will follow different routes to solve a problem compared to a conventional mind.

Your mind will view the problem in a unique way; in all probability, your mind may not even see it as a problem.

Here, I want you to understand that all lateral thinkers are not necessarily problem solvers or are creative, in the sense that we know it. Let me iterate here that it is just a different perception of things.

Lateral thinking

It is quite likely that a lateral thinker might further complicate an existing situation. But yes, with lateral thinking you can definitely arrive at uncommon conclusions and can learn to tackle problems in other ways than you would normally.

But then do we want to be lateral thinkers? Instead of answering that question, let me ask you something else – do you want to be left handed?

Can we Train our Minds to Think Laterally?

Well, if we can learn to play tennis and swim tolerably well, I guess we can also learn to think laterally. There are certain skills of an exceptional nature that you might not be able to acquire – if you are tone deaf or do not have a good voice then it is quite likely that you will never be a singer or be able to appreciate music or learn the piano. These are some skills, which require inborn talent.

For the rest, certainly you can acquire mastery with practise and training.

Edward de Bono, who pioneered the concept of lateral thinking said in another book, ‘Tactics’ – “The key point about lateral thinking is that concepts, perceptions and structures evolve over time and are a summary of history rather than a blueprint for the future. In the mind, this is due to the self-organising nature of the brain, which is designed as a pattern-making recognition system. So we may have to cut across and break out of patterns before putting things together in a new way. Provocation is an essential part of lateral thinking and there are various specific techniques such as the random word technique.”

To paraphrase what Bono says, we have to create a spark in our brains that will provoke our thought processes to get off the beaten track. We have all heard of brainstorming; brainstorming is a way of provoking our brains to come up with novel and unique ideas. The more bizarre, the better because then you have more and varied ideas to choose from.

We have to learn to brainstorm at every opportunity. You should not let logic or reason colour your thoughts during this process, because you have to break out of the pattern you have set for yourself.

The brain has to be trained to make that shift from the usual to the unusual.

If you are consistent, you will find that thinking up stuff ‘outside the box’ becomes a habit. Keep in mind though that the ideas you have generated should lead to practical use. Some creative people are known to be impractical and some are also known to be severely straitjacketed in their ideas. You don’t want that. But then again while coming up with ideas do not junk the impractical ones. Maybe they will lead you somewhere too.

As a lateral thinker you have to let your mind roam freely; you should be able to astonish yourself with your thoughts. Push and stretch at the limits of your metal boundaries. That railway track I told you about in the beginning should have a width than can be widened at will.

Contributed by Disha Parekh Mohanty

 

Simple Leadership Steps At The Beginning Of Your Career

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LeadershipDo you have leadership capabilities? Are you a born leader? Are there any instances where you showcased your leadership skills? How good are your team management skills?

These questions will keep coming back to you as you progress in your career and rise up the rungs of the corporate ladder. Have you ever wondered why leadership is so highly valued in the corporate world and beyond?

Good leadership brings a lot of great qualities and skills along with it. Honesty, sincerity, integrity, teamwork, positive attitude, delegation skills and the ability to inspire come along with good leadership.

There has been the timeless argument on whether good leaders are born with inherent qualities or can good leaders be made.  Recent studies have indeed shown that leadership trainings can definitely create a change in people and such a change can really create an impact in the work environment.

In this post, we will try to relate to the small but simple leadership steps that will get you started. Once you appreciate the ‘change’ in you, you will start appreciating the benefit of imbibing the qualities of a leader.

Start Owning First and Then Delegate

 Most of us shy away from owning things because it carries along with it a responsibility. You must have encountered situations where there are conflicts in a group when individuals do not reach an agreement. This happens mostly when some of the tasks are ugly or difficult to handle and none wants to own it. In such situations, the natural leader resolves the issue by taking up the ugly tasks.

Owning the ugliest task and doing it whole-heartedly not only gives you a sense of accomplishment but also creates followers for you. The next time when the same group has a conflicting situation they will look upto you for the delegation of the task.

Deal With Your Insecurities

 People are reluctant to share knowledge or information because they think holding on to it will create a stable position for them. This is very common in the corporate world where employees want to become indispensable to their companies and keep themselves secure.

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Good leadership comes with exposure first and experience afterwards. For exposure, one has to move on and create a space for someone else in his or her position. Leaders are extremely confident people and are not bothered by insecurities of transition. They are constantly in lookout for opportunities and do not hesitate to move on from a comfortable position.

To move on and gain exposure you have to deal with your insecurities first. So the next time when you are asked to change your team you should consider it as opportunity rather than a challenge.

Know Your Strengths But Know Your Weaknesses Better

 Once we had an annual sales presentation meeting. Every team from different product lines had to do their presentation. Though it has been years now, I still remember one team very well not because their presentation went extremely well but because no one from the audience could be attentive to their presentation. This was because the main presenter, supposedly the leader of the team was extremely bad in his presentation- both verbal and non-verbal. He was constantly shouting and trying to use all kind of body gestures to communicate his message.

In retrospection, I think a better job could have been done by delegating the main part of the presentation to another team member with better public speaking skill.

In order to gain attention and seek opportunities leaders do not resort to doing things, which they are not capable of. They know to play their cards well and know how to leverage the strengths of their followers.

Contributed by Sanjit Das ( Class of 2005, IBS HYDERABAD )

 

MBA course is in sync with the latest market trend

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TrendWe live in a world which is dynamic and change is the only constant. Markets move from one cycle to another, industry gets new technology, and the rate at which innovation is taking place, its remarkable. How much change may happen, knowledge does not get outdated rather it gets updated. While choosing out career, what many of us think is how much updated the chosen course will be? Sometimes this may sound vague, but this is one of the pertinent questions and a true introspection for a career oriented aspirant. The same question pricks when many of us chose MBA. Many of us think will the market need an MBA, is it justifiable course and will it keep pace with this dynamic, ever changing world. Well the answer is, MBA is never about imparting an ancient law, it is about progressive teaching aligned with the very DNA of the changing times.

A broad view of MBA will show that it is actually divided into two parts – the first part which is a profound conceptual background and the other is the practical application. So if you were to see the two,  the former is in which MBA tries to impart a deep conceptual knowledge on various aspects of business management using various techniques such as providing them a study material, a full time professor and a classroom training. These all provide theoretical aspects of the curriculum. While the later one provides a drill down approach of application of the same theories in a more sophisticated manner which includes case studies, industry lecturers, internship program, and live projects, which are abreast with latest market trends.

Conceptual Background

The conceptual Background is provided initially from relevant materials provided during each semester. These books are written by expert writers in their own domain, and are always updated as an when there is a need in order to make it in sync with the market trends. Books written by Philip Kotler for Marketing and by Benjamin Graham & David Dodd for Finance are a classic example of the kind of exposure these books provide to the aspirants. Even though these books are as old as one can vouch yet they are always updated and represent the current changing scenario. The most interesting part is that the conceptual theory never gets outdated, rather, the new trend dwells on the old premise.

The knowledge and interpretation of the books are imparted by an experienced full time professor who has a seamless understanding of the domain and has in fact mastered himself. The regular on the class training provides not only a conceptual discussion on the current topics, but also helps in the impromptu discussion which are related to the most recent incidents, facts and trending topics. The lecturer at the same time provides an insightful view of the subject with latest analogy. Sometimes a group assignment or an individual assignment too is  provided which could be associated with market trends.

MBA at the same time, is extremely instrumental in keeping the aspirants completely in touch with current activities, global knowledge and market trends through social clubs, student exchange program, and intra-college competition. Such events and activities help the aspirants to set his right foot forward in confidence. The primary days of teaching during each semester act in stimulator to the mind.

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Practical Application

Practical Application is where the main crux of the MBA lies. For every semester, the most part of the time is spent on this particular aspect in several ways. The most important one is the case study methodology which certainly makes this course, most popular and in sync with the latest market requirements. The case methodology is a highly researched and thoughtfully designed by experts. It encompasses case studies from HBS (Harvard Business School) to the self designed cases by the lecturers. These case studies capture the relevant aspects in a nutshell featuring both classic cases and the most recent ones. This makes MBA set a new bar in the arena of professional course.

These case methodologies not only covers the latest market trends, companies, events, industry but also provides ample scope to the aspirants to apply the theoretical framework. These case studies are scientifically designed to represent each chapter of the syllabus and making an effective learning methodology. It helps the aspirants keep updated of what’s going around in the corporate world, irrespective of the geographical boundary. In short, the gap that is built between the books and the real life events are mostly filled by this methodology.

Further to this, during the MBA course, one definitely finds some of the leading industry speakers providing guest lecture to the aspirants. These industry leaders are one who has profound knowledge of the current market trends and who work day in and day out. Their sharing of experiences as well as suggestions provides a new dimension to the learning and knowledge. They not only help set the wheel into the motion for the aspirants of different domains, but also provides live examples of cases which would otherwise take a lot of time to get included in the paperback editions and sometimes may even miss out in the cases.

During the curriculum the aspirants mandatorily have to go through an internship program. This program provided under MBA curriculum is specially designed in which the aspirants have to go through a stipulated months of training in a company. He would have to work religiously on the topic chosen by him and approved by his mentor who belongs both from the school as well as the company. This on-the-job training helps the aspirant to get familiar about the current scenario, help infer about the industry, and act accordingly. The close knit of people in the organisation help further accentuate the learning.

During the course, various ongoing initiatives such as brainstorming sessions, panel discussions, social groups, innovation convention and live projects are introduced to the candidate. These are not only self-indulging but also helps get others response, ideas and exchange of information. The dynamic interaction and meeting of like minded aspirants help steer new things.

MBA, therefore, has its roots and genesis of the old days, but it is such that it evolves over time. This can be seen from numerous examples and success stories of aspirants who have completed it and has been setting an indelible mark in the history.

Contributed by Mitesh Agarwal  ( Class of 2011, IBS HYDERABAD )

 

Ethics Vs. Competitiveness

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Ethics1There is no doubt that the Corporate world (even World for that matter) is getting more and more competitive. Competitiveness is the “key”, since everyone knows that it’s a World where only the fittest survive. Well, is there anything wrong in being competitive? I would say, “No”, but then there is another question – “at what cost?”. If the answer to this question is “Ethics”, then the competitiveness is Hollow. Definitely you can find many examples of people who do not give any important to Ethics but they still rise to higher levels. But there is no guarantee that you will stay at Top if you have compromised with Ethics.

Ethics and Competitiveness go hand in hand. There is no doubt about it. All individuals are faced with situations where one has to choose growth or ethics and even though it’s a straight forward choice, there are people who would choose growth over ethics. To explain this better let us take an example of Misselling. What is mis-selling? It is an approach very commonly taken by sales people to sell their products or services by hiding facts and giving false promises to the customer. This is very much prevalent in the sales world and in the race of being competitive, many professionals fall prey to this monster. This may lead to various types of impact on the end customer which may be inform of financial risk, health risk, reputation risk, other direct or indirect risk/loss. Misselling may not necessarily mean lying about the product, it may also mean hiding important terms and conditions, or operational procedures, or missing features, hidden charges, refund policy, return policy etc. Very frequently most of us fall prey to mis-selling and get frustrated at the sales man, most of the times it is because of the hidden charges. This has really spoiled the image of the sales community.

Sales team is a backbone of every organization as it is the sales team that brings in revenues by selling products or services. But recently there has been increased emphasis in large organizations on Sales ethics. Mis-selling is taken very seriously and strict disciplinary action taken against those who do not comply. Reputation of an organization primarily depends on the sales force representing it. Organizations have started becoming more and more transparent in their sales processes. Most of the times the details of product/ service being sold is documented by way of an agreement, brochure, offer letter which clearly mention all the terms and conditions, product features, pricing etc. Mutual fund companies and Insurance companies also clearly tell their clients to read the terms and conditions before buying the product. This is done to ensure that the client is not cheated and to save the reputation of the organization.

But, despite efforts being taken by large organizations to avoid mis-selling, it is really important to lay emphasis on sensitizing the sales force to understand the importance of ethical sales. Just to be competitive and to achieve or over achieve targets the sales team should refrain from unethical sales practices. Even though in short term you may be able to achieve the numbers but this does not take you very far. Any sales done by hiding facts or lying will sooner or later be unearthed, which may lead to reputation loss for the organization as well as the employee (and a disciplinary action).

Ethics

Unethical sales may also include compromising the interest of the organization that you are working for. Sometimes a sales person may show value to the customer by promising something that may be against the interest of the organization, this comes in forms of bribery, passing on other tangible or non-tangible benefits to the client which may be from the pocket of the organization or from his or her own pocket. A sales person may ask for a favourable business deal from a specific individual at the client organization and in return he may offer something for the personal benefit of the person who is in decision making position at a client organization. It’s very easy to close out business deals by promising such personal benefits, but then, this is completely unethical and unacceptable. This ultimately leads to loss of reputation for the selling organization.

Many large organizations take this type of unethical sales very seriously and have very strict policies to completely stop such dealings between sales team and client. There are strict gifting policies and very very strong disciplinary action taken against employees if they try to do such act. For organizations it is very important to closely scrutinize such transactions.

It may not always be linked to the sales function, professionals use unethical practices to grow within the organization, offering personal benefits to stakeholders or bosses, hiding facts that may be a risk to the organization, snatching someone else’s credit, passing-on blame to others and various other unprofessional and unethical practices.

Compromise with Ethics in any form is not a long lasting tool to success. One is that it spoils the organization culture and more importantly it is a big reputation risk for you and the organization. There are ethical ways of growing and being competitive. Very easily you can find examples of top managers/CEOs who have grown to that level just because of the level of ethics that they maintained during their professional careers. Compromising with ethics may seem to be a shortcut, but it’s definitely not going to take you to the right destination.

Being professional is very much equal to being Ethical. And an Ethical person earns a lot of respect and even if you lose the sales opportunity or promotion because of representing the facts, don’t worry, you have earned mental peace and respect. A customer always respects a fair sales person, a boss always respects a true employee, stakeholders always respect an honest colleague, an ethical organization will always respect an ethical employee.

So, don’t let competitiveness and ethics compete with each other. Make them shake hands with each other and surely it will become easier for you to climb up the ladder of success.

Contributed by DIVIK ( Class of 2004, IBS HYDERABAD )

CORPORATE RELATIONSHIP MANAGEMENT

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CRMRelationship Management in business is all about ensuring a healthy bond with the Vendors, Dealers, Distributors and Stakeholders. As for any other relationship a Corporate level relationship also requires human interactions and communications. These interactions may happen by way of a meeting, conference calls, Video Conferencing, emails or any other channel of communication. A corporate level relationship helps the businesses to derive mutual benefits and creates a win-win situation. A corporate relationship is not about liking the people or mutual respect towards individuals working in the organization, it is more about the benefit that this relationship provides to the organization you are working for. An effective corporate relationship can only be established by way of clear communications, if a communication is intended to hide facts or present wrong facts then there are obvious chances that the relationship may die out very soon, just like any other human to human relationship.

 

A corporate relationship involves high degree of complexity, while it also depends a lot on the human factors, but at the same time two corporate having a relationship will have a Legal agreement between each other to tie them into a relationship, even though the two companies may never consider to sue the other one in case of a conflict but the agreement keeps the relationship to a professional level.

 

When people of one organization interact with the people of the other organization – may it be a customer or a vendor, they have to maintain a professional distance and keep the tone of the communication at a professional level. It may happen that when you interact with professionals of other organizations, you may build a personal comfort level with them, but still during corporate meetings, emails, calls you should bear it in mind that you are interacting with those individuals in professional capacity and you are representing your organization, so despite having a personal bond with those individuals, you should refrain from making personal comments or remarks during these interactions. While managing corporate relationships, one should always protect the interest of the organization that he/she is working for and at the same time also try not to harm the interest of the other organization.

 

Most of the organizations have job profiles called “Relationship Managers” (mainly Banking organizations), these Relationship Managers are supposed to maintain good corporate relationships with the relevant units of the Customer Organization. This helps the organization to keep themselves updated on the business plans of their customers and help the organization to align their sales/products strategy to keep up with the client requirements. A good relationship manager understands the client’s business in and out and makes a business proposal keeping in mind the requirements of the customer, rather than selling whatever he has to sell without even understanding whether the client needs it or not. Most of the times a Relationship Manager profile is a sales profile.

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Email is the most commonly used and abused mode of communication. People tend to write emails loosely when they get comfortable with the recipient. In a corporate communication you must always be 20 times more cautious because you never know if the recipient forwards the email to other recipients who may not like the content of the email. An email should be professionally drafted and very carefully read before it is sent out to a client, any loose comments may spoil the relationship with the client. In my own career I have noticed many such email disasters and consequences of writing such loosely drafted emails.

 

Another most effective and commonly used mode of communication is a face to face meeting. When it comes to a face to face meeting/ presentation the situation has to be handled with additional caution, as you have very limited time to react and there is no scope of correcting the errors. An good Relationship Manager always has an agenda whenever such meetings are fixed with a client and a lot of homework has to be done before you meet the senior people of the other organization. The most basic etiquette expected is to sent a formal meeting invite and call up the senior participants before actually reaching the venue. Without a meeting invite sent on email you should never expect senior members to remember the time and venue of the meeting – it should be there in their outlook calendar. Distribute the agenda of the meeting along with the meeting invite so that all stakeholders are reasonably prepared. Have a list of discussion points ready on your diary/laptop that you intend to discuss during the meeting. Once you are into the meeting your focus should be completely on the agenda and not to digress much from it, because otherwise the intended objective will not be achieved and you will end up calling for another follow-up meeting in quick succession (Senior stakeholders will not like it). During the meeting – assess the current state of matters at the client end, understand their problems, understand the implications of the problems and how they are effecting the business and then make your business pitch showing various options and checking with the client if the options can help the client to address the problems. This makes a perfect relationship pitch. There are many people in the industry who just approach the client and try to sell whatever they have without even understanding the need. So why would a client buy a product if he doesn’t need it?

 

Corporate Relationship management is a complex organizational behaviour and spans across a lot of important verticals within an organization. It is very important to stay within professional and ethical limits. A good corporate relationship and a long lasting one can only be built over a solid Ethical base.

 

Last but certainly not the least, key towards building a solid Corporate Relationship is to use EMPATHY. Just put yourself into the shoes of your client/ vendor and try to understand his perspective, this will help you to plan your business strategy. Never impose your thoughts on the other person, just share your view with them politely and ask them for theirs and then try to reach an amicable conclusion.

 

Always target to create a WIN-WIN situation for all stakeholders and it is very likely that you will be a successful Relationship Manager.

 

 

 

Contributed by DIVIK ( Class of 2004, IBS HYDERABAD )

Log Kya Kahenge has killed more dreams than anything else

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LogI remember when I was really young my ambitions were based irrespective of “how much money would I make?” because those were the ambitions that directly came out of passion and love for that particular occupation. At once I wished to be an actor, being from a small town and raised among orthodox elders I was told that it is the computer who is playing those roles and such characters do not exist in actual. After this great theory I attempted to go inside the television as I started believing that there is a world inside the box. It just didn’t stop there, when I grew a bit more from a young 5 year old aspirant actor, I began to love to sing, from a bathroom to a full fledge birthday party in my locality, I used to just wait for someone to ask me to sing and I was just all over there. I remember me asking my parents if I can get some professional classes as I figured out a lady who taught ‘Shastiya Sangeet’. In return I got the list of incomplete homework and red grades earned in the past. Yes I was never into studies but that doesn’t define me now, but at that time it was the only criteria people would judge you. I remember once my aunt who always used to ask me to sing asked me “So what do you aim to be”, without any second thought I said “Singer” and she burst out laughing as if me singing professionally is bizarre thing ever. Then I was confused and disturbed, not about my aspirations, but the people I was surrounded with all my life. All my aspirations were either judged on my grade sheet by the people who have not been to school ever or considered irrational as they had not seen the lifestyle and opportunities that exists.

From what one aspires to be and always contradicted by “Log Kya Kahenge” is the reason that this country has lost some great talents that would have existed and celebrated but have been led down and professionally aborted by these three words. We do the best at what we love, even if it is from being a doctor to an artist. This country cannot have just some corporate working professionals highly available next door, that is the reason the professions like Engineers are hired in peanuts and the roads not taken like French convertor, stylists, Singers are paid heavily today. The moral of the story is that there exists undefined jealousy in the people towards you even if they do not know you or they are related to you through your parents(they are the most dangerous). So no matter whatever you wish to do or actually do professionally, these people will try to put you down. Well I am fortunate enough to figure out my way as a media professional and a Performer, escaping my roads from a small town confused person to what I am today. But that is what it actually takes “An Escape” “An Ignorance”. I remember when I got a break as a radio jockey and started performing as a vocalist with my ever first rock band, my parents were told by some carried away relatives of my dad that I must be consuming alcohol and having drugs and should concentrate on my studies. Well it came from those who haven’t crossed there towns ever and whose kids act like 50’s in their 20’s and cannot stand a content conversation, so was obviously worth an ignore. Had my parents taken it seriously I wouldn’t have been fortunate to have Big 92.7FM, Ogilvy and Mather, Star TV in my profile today.

Kya kahenge

When we start taking people seriously is the time we start giving up a bit of us to them. That does not mean that the world is against you, your true ones will be those who will seek their happiness in you being happy not their friends and relatives being in comfort with what you do. How does it matter? And why would one please the people one does not even know. We should all be ourselves till the time you are not paid some handsome amount for being something else. At the end of the day, not your acquaintance, society and relatives are going to feed you. It is you who is always going to stand up for yourself. Humans being the most dangerous species you would be surprised to see those people flipping their heads tomorrow for whom you gave up on your aspirations. Who wish to grow up to an old man I tell your grand children that you know what I wanted to be this but was led down by the neighbors so I chose to be this. OMG! Sounds like some dharmender’s 70’s dialogue.

It is just you and your parents who will stand by you all your life no matter you grow or you fail. In case some other people continue to be with you in your ups and downs all the way through out will be your real friends, never leave them. Rest everyone is going to come and go, judge and leave, misguide and enjoy the sycistic pleasure. During the young times it is easier to give up and blindly trust what people say or how they perceive certain things. But as we grow and life teaches its story we get to know that there exists a practical way which leads to our fairy tale but we have been guided by monsters we met on our way rather than fighting with them through our ignorance we trust them because of our innocence. So it is vital to be stiff on what we need to do. Give your ears to people and still do how you feel you should.

Dear friend, it’s a natural Indian mentality if you spend too much on a wedding people say “Zada Paisa hai” and if you keep the wedding simple same people say” Arrangement acha nahi hai”. Any which ways people will criticize what you do because of their insecurities so it’s better to bother them with what you love. Repect someone not basis the wrinkles earned by them rather respect someone basis what they are as a person. Life is too short to live it boring.

Contributed by Rahul Wadhwa (Class of 2013, IBS GURGAON)