Sunday, May 27, 2007

Some lessons from the life and career of a visionary


Narayan Murthy .....

I want to share with you, next, the life lessons these events have taught me. I will begin with the importance of learning from experience. Learning from experience be complicated. It can be much more difficult to learn from success than from failure. If we fail, we think carefully about the precise cause. Success can indiscriminately reinforce all our prior actions.

A second theme concerns the power of chance events. I am struck by the incredible role played by the interplay of chance events with intentional choices. While the turning points themselves are indeed often fortuitous, how we respond to them is anything but so. It is this very quality of how we respond systematically to chance events that is crucial. Of course, the mindset one works with is also quite critical.

As recent work by the psychologist, Carol Dweck, has shown, it matters greatly whether one believes in ability as inherent or that it can be developed. The fourth theme is a cornerstone of the Indian spiritual tradition: self-knowledge.

Indeed, the highest form of knowledge, it is said, is self-knowledge. I believe this greater awareness and knowledge of oneself is what ultimately helps develop a more grounded belief in oneself, courage, determination, and above all, humility — all qualities which enable one to wear one’s success with dignity and grace.

A final word: when, one day, you have made your mark on the world, remember that we are all temporary custodians of the wealth we generate, whether it be financial, intellectual, or emotional. The best use of wealth is to share it with the less fortunate.

I believe that we have all at some time eaten the fruit from trees that we did not plant. In the fullness of time, when it is our turn to give, it behooves us in turn to plant gardens that we may never eat the fruit of, which will largely benefit generations to come. This is our sacred responsibility.

22 Qualities that business schools look for

Business week has an excellent article listing 22 qualities that the business schools look for in a potential candidate. The qualities are:

  1. Intellectual ability: A candidate who is smart and easily able to handle the demands of the schoolwork and, ultimately, the business world.
  2. Quantitative orientation: A candidate who can "do" numbers.
  3. Analytical mindset: A candidate who is able to think critically and tolerate complex, open-ended problems.
  4. Success record: A candidate with a proven run of success.
  5. Maturity and professionalism: A candidate who looks, talks and acts like a grown-up.
  6. Leadership: A candidate who has created value by being at the helm in group-based activities and is comfortable in this role.
  7. Ambition and motivation: A candidate who is aiming for big things and planning to play in the senior leagues.
  8. Career potential: A candidate who has what it takes to go to the top.
  9. Perseverance and mental toughness: A candidate with evidence of the gritty staying power and self-reliance needed to overcome adversity.
  10. A strong, extrovert personality: A candidate who likes people and who is professionally (if not naturally) gregarious.
  11. Active orientation: A candidate with a bias to action and getting things done
  12. The killer instinct: A candidate who is not afraid of winning and seeing others lose.
  13. Personal integrity: A candidate with good interpersonal values and morals
  14. Community orientation: A candidate who demonstrates responsibility to community, society, and the environment, and who has an integrated, sustainable view of the role of companies in the world.
  15. Team player: A candidate who works well with others and who operates smoothly and constructively in collaborative situations.
  16. Diversity contribution: A candidate who brings interesting attributes, experiences, and depth of background to the group.
  17. Intercultural experience and tolerance: A candidate who has demonstrated a tolerance for diversity in people and cultures.
  18. Creativity and innovation: A candidate who is comfortable with change and ready to use it creatively.
  19. Communication ability: A candidate who can write, speak and organize ideas well.
  20. All-rounder: A candidate who is more than a suit, and who has an array of interests and passions in other things.
  21. Recruitability
  22. Likeability: A candidate who people enjoy having around. All else being equal, people always choose people they like as colleagues and co-workers

Monday, May 21, 2007

Effectively Influencing Up

As Peter Drucker has noted, "The greatest wisdom not applied to action and behavior is meaningless data."

The guidelines that help you convert your good ideas into meaningful action.

When presenting ideas to upper management, realize that it is your responsibility to sell -- not their responsibility to buy.

Focus on contribution to the larger corporation -- not just the achievement of your HR objectives.
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Make a positive difference -- don't just try to "win" or "be right".

Focus on the future -- "let go" of the past.


Sunday, May 20, 2007

Economics of CAT

The rat race for Common Admission Test (CAT) is nearly two-lakh strong and growing at over 20% annually. With the number of CAT applicants likely to touch 3.5 lakh in the next five years, the institutes offering preparatory courses are aggressively expanding their presence. The coaching class industry for CAT and other entrance exams for B-schools is estimated at over Rs 500 crore.

According to industry estimates, about 60% of CAT applicants in urban and semi-urban areas opt for coaching classes. The aspirants do not mind shelling out Rs 10,000-25,000 to take coaching for cracking CAT. Apart from six IIMs, more than 80 other B-schools consider CAT score for their admission process.

The market for players like Time, Professional Tutorials (PT), IMS, Career Forum and Career Launcher is not limited only to major cities. Smaller towns are also emerging rapidly on their radar.

Interestingly, Indore-based PT is considering launching a centre in the Middle East, targeting NRI and foreign students. “We are aiming to have 100 centres under our banner by the end of the current calendar year and signing up new franchisees aggressively.

We are anticipating the CAT aspirants to grow to 3.5 lakh in the next five years. Indian society is becoming upwardly mobile and CAT is emerging as one the favourite means to achieve career goals,” said Sandeep Manudhane, CMD, PT Education and Training Services that offers training for entrance exams through its 60 centres.

In Gujarat, PT is launching its new centres in relatively smaller centres like Godhra, Junagarh, Gandhidham, Gandhinagar and Mehsana. It trained close to 35,000 students last year and is aiming to enrol some 60,000 students during the current year for CAT, GUJCAT, TOEFL, GRE, GMAT and IELTS, among others.

Career Forum, headquartered at Pune with 55 centres, is also aiming to have 100 centres under its banner. “Number of coaching classes is mushrooming with consistently increasing CAT applicants. Also, students prefer to take coaching for CAT that is considered as the toughest entrance test in the country.

Meanwhile, TIME that runs a network of 130 centres across the country would set up 20 more in the near future. “We expect to train at least 60,000 students this year for CAT alone.

More students from smaller cities and working executives across cities are increasingly taking CAT,” Manek Daruvala, managing director, Time told ET. To capitalise on the increasing footfall, coaching centres are also offering services for overseas education and coaching for exams such as TOEFL, GRE, GMAT and IELTS