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Greetings! Om Asato maa sad-gamaya; tamaso maa jyotir-ga-maya; mrtyor-maa amrutam gamaya. Om Shaantih Shaantih Shaantih. O Lord Lead me from the unreal to the real. Lead me from the darkness to light. Lead me from death to immortality. May there be peace, peace, and perfect

peace. [Sanskrit invocation from the Brihadaranyaka Upanishads 1.3.28]. This issue is dedicated to the Sikhs of Joshimath, a small town in the state of Uttarakhand, who have set an example by allowing the Muslim community to offer namaaz at their gurdwara on the occasion of Eid-ul-Fitr. This is true prayer in action. Ask Y. Why this can’t be replicated many times, always? Start MAG – My Actions Game to remain a true INDIAN. Cheers, Rajiv Khurana Editor PS – Please don’t forget to send your feedback at rajivkhurana@vsnl.com. You may even call me at 9810211256.

OWNERSHIP VACUUM IN PROFESSIONAL FIRMS – Dr. M B Athreya

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TEN Action Ideas on Networking – Rajiv Khurana

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Tips Talk 8

This World… 9

Pearls of wisdom from Bhagavad Gita

10

In this issue…

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Baba Bhudda Ji sits on a platform while Said Mian Mir Ji lays the foundation stone of Harminder Sahib in the presence of Guru Arjun Dev Ji. Mian Mir ji was a revered Muslim Sufi Saint, he was invited by Guru Ji to lay the foundation stone of the Harminder Sahib. The Harminder Sahib has four entrances signifying that the Gurdwara is open to all...

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#6. September 1, 2012 Dr. M B Athreya

Dr. M B

Athreya

Management

Guru. Former

Professor - IIM

Kolkata, London

and Scottish

Business

Schools. Chair

and Member of

Government

Policy

Committees.

Advisor to

industry,

government and

NGOs.

By the term “Professional Firms”, in this context, we don’t mean only firms of Finance, Legal, Medical or similar firms of people in any one profession. Instead, we use this in a broader context, to cover all firms with professional management, but no Promoter/Family. The term “firm” is also used in the sense of economic theory, to cover all kinds of business organisations, including private and public limited companies, and not just partnerships. Such a firm may be in manufacturing, services, infrastructure, trading etc. Orphan Organisations? One of the inherent, potential strengths of the firm set up, with controlling interest by a single Promoter, or a business family, is a strong sense of personal ownership. Some Promoters have expressed disappointment that professionals join and stay with the firm, for a while, and may leave any time, especially when there are difficult challenges. The promoter stays on and works for the survival and growth of the firm. This raises the question --- “Who is/are the owner(s) in non-Family firms?” Are there none? Is it, therefore, an “Orphan (अनाथ) firm”? If so, what are the possible problems? What are the remedies? There are four possible problems in such an organisation. Neglect The first danger is that the firm may not get the total focus of any professional, including the seniors. Each individual and department will pursue their own interests. There may be many signals of problems with customers, dealers, employees, vendors, regulators, etc. Some or more of these may not be picked up and solved in time. The “business” will suffer. Even if the firm continues to survive, it may not achieve optimal results. Everybody’s problem becomes, in effect, nobody’s problem. None or very few feel a person sense of loss, pain or discomfort.

OWNERSHIP VACUUM IN PROFESSIONAL FIRMS

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Politics The second likely problem is that of politics in the organisation. The politics may take different forms. One is inter-personal rivalry and conflict between some of the senior executives. Another is inter-divisional conflict, between the different Responsibility Centres. A third is inter-regional conflict, between the various geographies. A fourth is inter-disciplinary rivalry between engineers; salesmen; accountants; etc. Corruption A third problem is corruption. A feeling that it is nobody’s business can lead to misappropriation at different levels, locations and stages of the value chain. Each may think that it is only a small bit, but it may add up to quite a lot for the total firm. Without the backing of a Promoter, even Accounts and Audit may be powerless to check it. This is not to say that there is no corruption in family firms. The differences are that it is mostly restricted to the owner; and does not become a cancer in the entire organisation. He may also have to do some of it for political contributions and coping with regulators and inspectors. Decline The cumulative impact of the above three factors is the eventual decline of the firm. The decline could be measured by several parameters --- fall in the growth rate; market share; efficiency; margins; profitability; share price, if listed; market capitalisation; reputation, etc. It can also be sensed through loss of young; idealistic talent; low morale; no pride and intellectual stagnation.

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Way Forward What is the solution for a professional firm affected by such problems; or to prevent them, in the first place? The main strategy is to give all employees a sense of Belonging; and Ownership. The seniors at every level of the organisation should give their juniors a feeling that they belong in the total organisation. They will not be excluded by dominant groups through favouritism, prejudice, etc. Each employee, in her/his turn, should develop a feeling of owning the organisation; a feeling that it is my firm; my department; my team and resources. The career of each employee should go through the following four steps of a ladder --- Own; Build; Inherit; Handover. Own In the first few years, the employee should develop the feeling that this is “My/our” organisation. I/we are not just salaried “workers” in someone else’s organisation. With such ownership, comes responsibility. I must contribute my part to take care of our stakeholders --- our customers; shareholders; business partners; environment and society. The younger the employee, the more the organisation “belongs” to her/him. She/he has a longer period to benefit from the strengths and achievements of the organisation, as well as suffer from the weaknesses and failures of the organisation. Build The employee should help to build the business. Early on, he will help by doing his job effectively. He will be first involved in the detailed, tactical, operational, implementation of strategies. As he rises in the organisation, he will help implement plans, budgets, and projects. He will be involved in recruiting new talent; give them a sense of belonging and ownership; develop, retain, utilise and grow such human resources.

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Inherit In due course, he will reach a leadership position in his company; division; region; location; or department, depending his performance and potential, based on a just and fair system of meritocracy. He and his team will “inherit” their part of the organisation, from seniors, who are ready for retirement. Handover After a few years of “inheritance”, the employee’s own turn will come for retirement. By that time, he should have prepared successors, who will be competent to “inherit” from him and his contemporaries. He should have the confidence that they will do even better than his generation. They may face a more complex, competitive and volatile environment. He should hand over to them the assets, plans and other valuables of the organisation. Intrapreneurs An organisation, without an Entrepreneur has to develop Intrapreneurs, namely, Internal Entrepreneurs. They will have to create; seize; and exploit opportunities. They should conceptualise and implement new products; processes; and businesses. E–I Synergy A promoter will be wise to create the above kind of organisation. He should take the initiative in building synergy between himself and his family, on the one side, as Entrepreneurs; and the senior professionals, on the other side, as Intrapreneurs. For this, he should yield space; delegate; empower; and give respect and dignity. The professionals, in their turn, should act as responsible Trustees.

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A Act with clarity Avoid being a rudder-less ship. Be clear in your expectations. Join organisations, associations and groups where even you can add value.

B Be prepared Not just with your business cards. Do a bit of homework about the event, theme, people and even your own ideas.

C Create a 10 seconds commercial Companies take that much time to make prospects interested in their products on TV. No one is interested to listen to your whole story. Intrigue them with a well rehearsed commercial.

D Deal with courtesy and positivity You may think yourself to be a highly learned person or a big-shot, right amount of courtesy will always add value. The positivity which your body exudes would impress plenty around.

E Enthuse people Show interest in people. Appreciate them. Listen attentively. What you will give is what you will get. Don’t forget, your smile itself is a key differentiator. Infect people with your energy, smile and enthusiasm.

F Follow up You may get drawers full of business cards. They are of no use unless you re-establish your link. Recall the experience, some interesting words or learning to make the person feel extra-important. Ensure that the data on card gets shifted to your cellphone and computer. Old ways of going back to the card is history.

Rajiv Khurana

CMC, FIMC www.thepersonnellab.com

www.rajivkhurana.com

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G Get connected Re-establishing a link is one thing and getting connected is another. A long road lies between getting acquaintance and becoming a partner in progress. Developing friendship bonds the relationship firmly.

H Harness IT IT and communication tools have made life much easier. Don’t be a TC – technologically challenged! The more latest stuff you use, the easier it is for you to handle. It’s cheaper too!

I Invest in relationship An old Hungarian proverb says, “Grass should not grow in-between the homes of two friends.” Cement your way. Bond with people over BBM, What’sapp, linkedin, twitter, facebook etc. Share your blogs, eMag and anything else that may be of interest to people.

J Just give, expect less Every action of yours may not give desired results. Be perseverant. People have their own priorities and trips in life. Give them their space. Respect them. Even if is a gentle one way stream from your side, keep flowing. Some day, they may revert with their need. When you walk the extra-mile, you hardly meet any traffic. Your patience matters. Even then, if some of them don’t revert, no issues. The world around you is big in terms of opportunities. Keep walking!

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Emails Do u know that to ignore an e- mail also you take upto 60 secs. If you have 50 e-mails a day to send to the recycle bin, you will be wasting 252 hours in a year. So, don't let this happen to you and others. • Ensure that you Send e-mail

only if it contributes to the receiver's information, work or knowledge.

• Write the subject clearly. People don't like the guessing game

• Use abbreviations with which the receiver would be comfortable.

• Follow the business etiquette maxim: DO UNTO OTHERS AS OTHERS EXPECT YOU TO DO UNTO THEM.

• Reply quickly. Don't work at a snail mail pace.

• Keep it SMART S-HORT M-EANINGFUL A-TTRACTIVELY WORDED R-ECEIVER ORIENTED T-IMELY Remember, an e-mail is for mutual gain and not for intended pains.

Communicating Are you aware that as a manager you spend almost 80% of your time communicating whether it is reading, writing, listening or speaking. Be careful about the 8 Cs' in your communication when you deal with the people around you. CREDIBILITY- People should believe what you say. CONTEXT - Link what you communicate with the reality CONTENT - Don't assume. Provide what is relevent and chop off that is not needed CONTINUITY - Don't break the momentum CONSISTENCY - Avoid message that may move in the opposite directions CHANNELS - Use a blend of different written, audio or visual means CAPABILITY - Choose and use the language that people can easily understand CLARITY - Be candid, clear and precise.

- Rajiv Khurana

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Pics: Rajiv Khurana The Statue of Liberty's index finger is eight feet long. A 75 year old person will have slept about 23 years. Boeing 747's wing span is longer than the Wright brother's first flight. There are as many chickens on earth as there are humans. About 75 acres of pizza are eaten in in the U.S. every day. Former president Bill Clinton only sent 2 emails in his entire 8 year presidency. Koalas and humans are the only animals that have finger prints. There are 200,000,000 insects for every one human. It takes more calories to eat a piece of celery than the celery had in it to begin with. The average person spends two weeks waiting for a traffic light to change. 1 in 2,000,000,000 people will live to be 116 or old. You use 14 muscles to smile and 43 to frown. Keep Smiling!

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Y readers say Yes and whY-not

to positive action

Ymag is an initiative of YPROSINDIA, a social enterprise founded by Rajiv Khurana

#6. September 1, 2012

Man is made by his belief. As he believes, so he is.

Neither in this world nor elsewhere is there any happiness in store for him who always doubts.

The mind is restless and difficult to restrain, but it is subdued by practice.

Action is greater than inaction. Perform therefore thy task in life. Even the life of the body could not be if

there were no action

Pearls of wisdom from Bhagavad Gita