Volume 8 | Issue 11 | Double Issue: Dec 2011 - Jan 2012fletcher.tufts.edu/~/media/Fletcher/Directory/Media/...Volume 8 | Issue 11 | Double Issue: Dec 2011 - Jan 2012 The Many Rewards

Volume 8 | Issue 11 | Double Issue: Dec 2011 - Jan 2012

The Many Rewards of Playing Tennis

Sadhguru on Managing Mid-life Crisis

8 Indian Management Gurus on Top 50 list

KanwalRekhi’sMantras toentrepreneurs

SBT9-Communication-BT1 - Management NextSize : 21.3cm(w) x 28.6cm (h)

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Information in this publication is drawn from a variety of sources, including published reports, interviews with practicing managers, academia and consultants. While doing so utmost importance is given to authenticity.

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Volume 8 - Issue 11 | Dec. 2011 - Jan 2012

Mission: To enable engaging conversations through fresh insights and perspectives

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Letter from the editor

Benedict [email protected]

2012 - what’s in it for executives

By March 2010 most businesspeople, executives and entrepreneurs thought the worst was behind them and that they could focus on how to get back

into business for at least the next five years. The optimism didn’t last long. By mid 2011, a real chance of another recession or a double-dip was not ruled out. As we enter 2012, it appears it’s not as bad as one thought and some semblance of guarded optimism is back. If no big shock springs up, 2012 could be a rebuilding phase for most businesses across the world and for India too.

This scenario will make Indian executives hold on to their jobs for dear life and take fewer risks. With unforgettable but rich experience of the last decade with two big cycles and several mini cycles, Indian executives in their mid and senior careers would have mastered the ‘Managing Slowdown’ strategy quite well. But 2012 is a different ball-game.

It’s easier to strategize when the going is good or when it’s really bad, but as 2012 appears to pan out, it’s neither here nor there forcing executives to either go for the kill with the hope of altering the situation in their favor or adopt a very defensive strategy like laying off people or shutting down some units.

While large and big organizations will continue to focus on efficiency and productivity to stay competitive, SMEs will expect their executives to stretch all they have to earn their current salaries. With most companies reluctant to spend on training and leadership development during tough times, the focus will shift to the sales and marketing departments to deliver better numbers.

Companies that invested in their people, processes and on developing innovative products, spent time and money on customer-centric solutions and aggressively tapped the online media in the last three to five years may have a good chance of staying fit in 2012. Those who were too afraid to invest on themselves and expect markets to deliver results for them could have a rough ride.

Hiring by most companies could be selective except in telecom and retail. Here too, salary packets would be conservative with greater focus on the variable component. Sunrise sectors like green energy, clean-tech, medium and small size health care facilities could do robust business. Executives who have worked long years in conventional sectors may do well to move to these businesses which will offer both challenge and better pay packets easily for the next five years.

Most bold executives who jumped into the swirl of entrepreneurship in the last three years could be feeling the heat. But if their business models are strong and the businesses they got into are in the growth sectors, they simply need to stay focused. Others may have to bide their time or cut their losses.

We have no choice but to make 2012 work for us.© ManagamentNext Media & Publication LLP

EditorBenedict Paramanand

PublisherRomi Malhotra

Contributing EditorSharmila Chand, Delhi

Editor - SustainabilitySangeeta Mansur

Assistant EditorSuchitra R. Panthalu

Contributing WriterSuhruda Kulkarni, Pune

SupportM. GopinathSanjeev Kumar, Delhi

IllustratorNeetu Singh

Inside

8 - 13Trends

CoverStoryIndianGurusSpecial

14Read how the Indian faculty in the US has made the world richer by $10 trillion

16Eight Indian management gurus make it Thinkers50 list

Are conferenceslosing their meaning?Sharu S. Rangnekar

Indians love dealsAnisha Singh

Retail webaudience in Indiagrows by 18 pc

Kanwal Rekhi’s mantras to entrepreneurs

Why HR too needs a stress test

Dave Ulrich

20Why Indian-bornmanagementgurus succeedin the WestSangeeth Varghese

Vijay GovindarajanProfessor, Tuck School of Business,

Dartmouth College, New Hampshire.

Vineet NayarVice Chairman and CEO,

HCL Technologies

Rakesh KhuranaProfessor of Leadership Development,

Harvard Business School

Sheena IyengarProfessor of Business,

Columbia Business School

Subir ChowdhuryChairman and CEO,

ASI Consulting Group

Nitin NohriaDean, Harvard Business School

Nirmalya KumarMarketing Professor,

London Business School.

Pankaj GhemawatProfessor of Global Strategy,

IESE Business School, Spain

Late Prof. C.K. Prahalad Dr. Ram Charan Dr. Late Sumantra Ghoshal

48OffBeat

India’s future wizkid

Why inflation is low

in New Zealand

Marital bliss

through economics

Vineet Nayar on

the dance floor

44BookShelf

42Spirituality

Sadhguru

40ThoughtLeadership

Are You Coachable?Peter J. Dean

38CaseStudy

36Sponsored CaseStudy

Tally.ERP 9 puts Nilesh Auto Distributors in top gear

30 - 34Tennis Special

28CoachingSpeak

Metamorphosis from a manager to a leaderRam Kedlaya

26GuruSpeak

Prof. Bhaskar Chakravorti

24KMSpeak

Knowledge Management 15 success factorsMadanmohan Rao

22DeanTalk

Dr. Bhimaraya Metri

Transformation of Annapurna Mahila Mandal into Annapurna PariwarPrema Basargekar

Tennis isMoreThan aSportK.C. Devarajan

Indian tennis’ Santa Claus

You lose if you trytoo hard to winShoaib Ahmed Dr. G.V. Krishna Reddy

NHRD ConclaveTrends

Just like the way banks and businesses undergo stress tests regularly to know the quality of

their assets, the human resources department or the people management function too needs to be put through similar trial. This is being seen as vital because talent today is not merely a resource but is also a capital.

Addressing the NHRD Network convention in Bangalore in November 2011, Dave Ulrich, considered the father of HR, said: “It is increasingly important for HR leaders to develop a straightforward process to enable the organization to demonstrate that they have been “stress tested” and found ready to meet the requirements to contribute. He said he learnt the concept of co-creation from late Prof. C.K. Prahalad - how HR can co-create value with other functions.

Why HR too needsa stress test

Value is ultimately created by receivers of HR work more than those who do the work

best practices and India is now poised to offer ‘Next’ practices. The big challenge for HR today is leveraging technology.

Mali said Indian HR has played a significant role in the resurgent India story in the last decade especially enabling smoother transition during global M&As. NHRD has grown to 12,000 members and has a chapterin all prominent towns in India.www.nationalhrd.org.

There were several firsts in this conference which made it one of

the most innovative and participative. The ‘Make Your Own Conference’ broke up a mega conference into several smaller groups with provocative themes where participants could engage in dialogue among themselves. A separate conference on the sidelines for the youth - mostly college students - had big participation and gave a glimpse of what the youth want from HR.

The standout part of the conclavewas presentation by 40 companiesof their unique HR practices.What could not be missed was what Vinita Bali, MD of Britannia, wasdoing there as the chairperson of aHR conference. Sri Sri Ravi Shankar made sure that people managementis as much an inward journey as much as outward.

He said the goal of HR is to create value inside an organization for employees and outside an organization for customers, investors, and communities. Value is ultimately created by receivers of HR work more than those who do the work. This is accomplished by ensuring that HR is focused on the right outcomes; investing prudently to achieve the right priorities; delivering the right leadership and talent to the organization; and delivering the most appropriate HR structure, practices, professionalism, and tracking measures to meet customer and other stakeholder expectations. Dave Ulrich, in his many articles has provided HR stress test models which offer a simple, rigorous, assessment of HR effectiveness.

Age of self-doubt is overC. Mahalingam, head of NHRD Bangalore chapter and chief people officer at Symphony Services, presented the metamorphosis HR has gone through in the last decade. He said HR has moved from being a partner to that of an active player in managing business. He said the West gave HR

Dave Ulrich, HR Guru

ManagementNext | Dec. 2011 - Jan. 20128

Trends

Kanwal Rekhi’s mantras to entrepreneurs

Start-ups and long-time entrepreneurs herd around investor Kanwal Rekhi wherever

he goes to speak. That is not so much because he has the money to fund but more for the rich ‘gyan’ he so freely shares with them. While in Bangalore during TiE conference in December 2011, he gave a ‘gurutalk’ sitting under a big tree and about a hundred entrepreneurs didn’t move an inch until he finished. As Fortune magazine puts it, “Rekhi is at the centre of a whole lot of wealth creation.”

Here are a few insights from the guru whose mission today is funding start-ups through his company Inventus Capital and mentoring those who are challenged by the harsh economic conditions and stakeholder conflicts:• Salesisthemostimportant

department in an organization and there is no debate on it. The CEO’s office should be next to the sales office.

• Valueofmoneyissameasthatofmother’s milk. Treat it with dignity and respect.

• VCsfundpeople,notideasbecauseideas can change, business models can change, technology can change but the people will be the same.

• Asafirmmatures,entrepreneursshould become generalists. Those who guard their specialization too closely will get into problems.

• Itiseasytolearnthantounlearn.Soentrepreneurs should invest time and money on learning new skills and knowledge all the time.

And, (in a lighter vein), your mom is the biggest impediment to entrepreneurship, because she wants you to find a safe, steady job and take no risks. Woe betide your dreams of turning entrepreneur if your mom and wife get together to drill that safety lesson into you.

Rekhi has been active in investingin technology companies in thelast two decades in Silicon Valleyand in India after successful stints as a

senior executive with Novell.He co-founded The IndUS Entrepreneurs (TiE) to promote Indian entrepreneurship and was TiEPresident through the late ’90’s presiding over its growth into a global organization with over 10,000 members and 57 chapters.

He is dismayed at the slow pace of reforms in India and the lack of encouragement for start-ups by the current UPA government.

ManagementNext | Dec. 2011 - Jan. 2012 9

Trend - GroupBuying

What’s been the demography, gender and profession of the group-buying folk since

Mydala started in 2009?

Women obviously tend to be high and frequent buyers because of our inherent nature of the love for shopping and saving and Mydala allows you to do that without piling on the guilt. It is hard to define a particular demography – our buying happens across all ages and genders, with the sweet spot being in the 21-35, with about 40

In two years, Mydala.com, the pioneering group-buying platform, has got the highest traffic and is second in number of deals. Anisha Singh, founder and CEO, talks about trends in the Indian group-buying space, what made her the market leader and its complexity in a chat with ManagementNext

Indians love deals


Out of the 20 or so websites in the group buying space, only two to three follow the ‘group’ model

percent women mix. So, group-buying transcends all age and genderbarriers, since we Indians love dealsno matter who we are, how old we are, or what we do.

What incremental innovations you had to introduce to make it robust?

Our primary focus is to gain the trustof our users and give them thecomfort that if the deal is on Mydala,it is an unbeatable one. Innovationand user experience are at the coreof what we do.

We have several features which distinguish us from the competition

1. Deep relationships with merchants coupled with the volume of paid customers that we give them.

2. Our customers in most cases pay the entire deal value upfront, versus most of our competitors who issue a coupon on the deal.

3. Personalization ensures that the user does not get spammed.

4. Mobile medium: you can buy on your phone: we were the first group-buying platform to launch the Blackberry app.

5. We launched India’s first and exclusive mobile WAP browser for discounted deals, which helps mobile internet users to access Mydala deals quickly on any internet-enabled mobile phone using GPRS or Wi-Fi. You can access our WAP portal even from a non-smartphone!

6. Deal Hunter: India’s first and largest deal directory, which lets you search for and track ongoing sale offers in your neighborhood.

Out of the 20 or so websites in the group-buying space, only two to three follow the 'group' model. There are some factors that made group buying reach the celebrity status that it did and that was the showing numbers so that it becomes a viral play with friends referring friends and second was taking a full amount so that the merchant gets acquired users.

Given Indian mindset, how do you think group buying will pan out compared to other markets?

Social commerce/group buying is a platform and an industry that is just starting in India, the next two years there will be no better place to be. In the US, the online industry is extremely mature with all sorts of cool innovative models. We’ll see a lot of that happen in India in our space as well. The key to it all is innovation. I know that we took a basic model but we have innovated to add all sorts of cool features to give the users the best experience. I hope we see a lot of that happening going forward as well.

Are you able to cover a lot of sectors?

We have 7 broad categories (Travel / Restaurants / Lifestyle / Gadgets / Home and Baby / Fashion) with several sub categories which broadly cater to all the related service / products of the assigned category.

Our Merchant Mall Product allows users to see all their favorite merchant deals at one place. With Mydala Mall, buyers need not worry about missing deals from their favorite sellers, while merchants can explore more engaging, long-lasting relationships with their patrons instead of just one-off deals.

What sectors are resistant to this trend?

None really that we have encountered till date. Airlines and Hotels were a tough challenge but we have partnered with most of the leading ones successfully e.g. Royal Orchid, Kingfisher, Jet, etc. We have promoted small and large brands, everyone is a big fan of the way

we do it. We believe in buildinglong-term partnerships and helpingour merchant partners achieve their goals, whether it is sales, newcustomer acquisition, loyalty build,or brand awareness.

What’s the size of the business now as against the potential size of the market and 5 year projection what are your future plans on Mydala?

We stay focused on our business and let our competitors, market players make projections. Our target market is HUGE: we are significant players in local commerce, e and m commerce, and media advertising (internet and mobile). Each of these businesses is currently and in the future individually a multi-billion and collective a huge opportunity in India and our focus is on execution and getting a bigger piece of the pie along the way.

Request you to give some comparisons with Groupon and others.

Not sure what comparison you are looking for but if you consider group on it India, it has run into several issues and trailing the top player by a wide margin.

We were the first group buying site in India so we have seen several come up and several go away as well. In terms of traffic, we are the largest in the group buying space and in the deals space, we are the second.

We frequently get compared to traditional ecommerce sites such as myntra.com, flipkart.com as well so it’s hard to measure on many fronts other than traffic and Alexa/Comscore ratings.

The success behind any marketing platform is the quality of services provided so we work very hard to ensure customer satisfaction. We have several features and firsts which distinguish us from any of our deal space competitors and/or ecommerce players. We are focused on building a hugely scalable and profitable business.


Trends

Nearly 60 per cent of online users in India visited a retail site in November 2011,

with the number of online shoppers increasing 18 per cent over last year. The comScore study noted that that in November, 27.2 million internet users accessed online retail websites, compared to 23 million during the same period last year. The users were aged 15 years and older, and accessed the sites from computers at home or work.

Further analysis of the retail sub-categories revealed that coupons sites are the biggest, with 7.6 million visitors and a reach of 16.5 per cent of the total online population. Sites such as Snapdeal.com and Mydala.com lead the coupons category. Consumer electronics rank next, with 7.1 million visitors, and show a growth of 12 percent over the previous year. About 5.8 million online users visited comparison shopping sites, an increase of 25 per cent over the previous year.

Commenting on the results of the study, Kedar Gavane, director, comScore India said, "Online channels are playing an increasingly important role in connecting retailers with potential customers in India. To take advantage of this growing opportunity, retailers must ensure that they address the needs of potential

customers, which include attractive pricing and the convenience of ordering online.”

The rapid growth of online coupons sites suggests that consumers in India are looking for deals, highlighting the need for online retailers to adopt effective marketing and pricing strategies for their goods.

Amazon was the leader as the top retail destination in India, with 6.8 million visitors representing 14.7 per cent of the online population. Apple.com ranked second with 3.4 million visitors, followed by Samsung, with nearly 2.8 million visitors. Other top retail hits were with Flipkart.com (2.7 million visitors), HomeShop18.com (2.3 million visitors), and Naaptol.com (2.1 million visitors).

Non-residents big visitors toonline paper sitesAnother ComScore recent report also stated that non-residents were majority visitors to local news destinations in India. The Times of India, ranked as the largest site in the newspaper category with nearly 7.9 million visitors in India which constituted 36.2 per cent of its global traffic from outside India in September.

With 31.6 per cent of its global visitor

base accessing from outside the country, Oneindia reached more than 4.4 million visitors in India inSeptember 2011. HT Mediasaw 28.1 per cent of visitationfrom outside of India.

The study also suggested that 20.1 per cent of India.com's global visitors were non-residents, and the largest local general news destination in India was NDTV. According to comScore, 38.2 per cent of NDTV's audience was represented by this segment of visitors. Meanwhile, the other sites, including portals in financial and sports categories, have also seen significant non-resident traffic drive their global audience reach.

Kedar Gavane, director, India, comScore understanding this important geographic distinction in audience composition is important for publishers to deliver relevant content, and for advertisers to reach their desired audiences.

Additionally, among the selected news sites, Mid-Day.com and DeccanChronicle.com displayed the largest percentage of visitors from outside India, with both drawing more than 45 per cent of their global audiences from outside the country.

Retail web audience in India grows by 18 pcA comScore study said coupons sites are growing at a quick pace with a reach of 16.5 percent of the total online population. Good news for online retailers and not so good news for traders who are opposing FDI in retail.


Trends

Are conferences losing their meaning?

The author’s books include“In the Wonderland of Indian Managers”, “In the World of

Corporate Managers”,“How to Learn Management

from Your Wife” and“Soft Skills in Management”.

To buy [email protected],

[email protected]

Sharu S. Rangnekar

I started attending conferences alsocalled seminars or conventions more than 50 years ago. Initially, they

were organized for getting the latest information and get-together of friendsand fellow professionals. The emphasis was on to trying to get the maximum participation and success was measured buy the how many turned up. Delegatefee was kept low to attract morepeople and expenses were kept lowby using low cost venues such aspremises of institutes or PSU auditoriums.Efforts were made to invite outstandingspeakers since many came to listento them.

Over a period, the nature of theseget-togethers has changed. Many delegates are nominated and are sometimes not even the members of the profession. So the interest in listening to speakers has waned.

There are other avenues like journals and books which give information about the latest knowledge and experiencesin the profession.

The delegates are getting addicted toair-conditioning facilities and sumptuous food. So these events have movedto five-star hotels. The organizers have found that to meet the high cost of holding

convention, they would require sponsors who would give donations.

Role of SponsorsInitially, the sponsors were those who were in the forefront of the professional activity like the Tatas for industrial engineering, SAIL or BHEL for personnel and training, However, over a period, the sponsors considered this as a part of their “charity budget” or “promotional budget” and consequently were not particularly interested in the professional activities. Some of them decide who should be the speakers and try to maximize their promotional value through banners. In fact, many conferences do not give the names of the speakers till the last minute since it is not deemed very important.

With this trend, conventions will have speakers who want to spruce up their CVs. It is sad that in many conferences hardly any time is given to speakers and sometimes the papers are included in the kit. The general quality of the papers is such that most of the delegates are not interested in listening to them and the halls look like waiting room at a railway station where people are getting in and out. The delegates seem interested in food and bags. I have seen delegates throw away literature enclosed as part of the kit to reduce excess baggage in traveling.

Being nominated as a delegate has become a part of executive perquisites and selecting an attractive venue has become essential to get large number of delegates. The success is measured by the surplus generated in the Convention. Today, conventions have become commercial events rather than an intellectual exercise.

It is sad that in many conferences hardly any time is given to speakers and sometimes the papers are included in the kit


IndianGurusSpecial

If this number is even remotely true, it would mean that India’s contribution to the US economy is many times more than all its aid, direct and indirect investment into India in the last 50 years

In the last 50 years, Indian faculty accross all subject, teaching in US universities has created a staggering

size of intellectual capital. In the future, this capital could be more widely dispersed because of the changing global dynamics.

The Associates of Educators from India On US Campuses (AEIOU), co-founded by late Prof. C.K. Prahalad in 2010 as a body of Indian academicians in US universities, has thrown up a mind-boggling figures of $10 trillion dollars - the collective educational value generated by 8,100 university faculty

through nine million students and overa million papers. Late Prof. Prahalad was to be first president. The figureis a rough estimate and AEIOU hasnot offered a formula how it arrived at that number.

If this number is even remotely true, it would mean that India’s contribution to the US economy is many times more than all its aid, direct and indirect investment into India in the last50 years.

AEIOU is a platform for all Indian professors based in the US and offers

Indian gurus create $10 trillion Edu-valueby Benedict Paramanand

Late Prof. C.K. Prahalad Dr. Ram Charan Late Dr. Sumantra Ghoshal


Project

A Billion Trees• Prof.CKPmetwithGeorge

Weyerhaeuser.

• InanaerialsurveyofIndia,itwasmentioned to him that.

• Indiahad26%forestcover(againstanoptimum45%).

• Abilliontreesarerequiredforimprovingitby1%.

• CKPcameupwithaplantoplantabillion trees.

• StartedadialoguewithJagtapNursery.

• Throughspiritualleaders,inspiredevotees to plant trees.

Project

Edvantage• Edvantage=Advantagethrough

education.

• Everyyear,identify750ofthebeststudents in the final year of graduate studies in India.

• Provideaffordableaccesstoworld-class edu institutions (Harvard, Stanford, MIT, UM etc.).

• Eachstudentmakes2pledges: • The“commitment-to-quality”

pledge. • The“giving-back”pledge.

Project

7,500 Teens• Identify7,500ofthebest hi-potential teenagers.

• MentorthemfromStd8tilltheygetfirst pay-check.

• Mission:“Makethebestbetter” • Helpthemreachpotential

(competence framework). • Enablethemtonetwork(the

Facebook model). • Inspirethemtoincludethe

“base of the pyramid”.

• Ifeachofthese7,500childrencanimpact a million people, we would have covered “Planet Earth”.

AEIOU’s Future plan

• 8,100Indian academicians in US universities.

• Taughtover9million students.

•Publishedover a million papers.

•Created“EduValue” of over 10 trillion dollars.

them all support to become more effective. It is run by volunteers who are typically alumni of IIMs and IITs based in India and the US. It has largely replaced Google groups. The precursor to AEIOU ran through a number of Google-groups. The most common activity was coordinating with visiting faculty so that they could give invited lectures at the IITs and IIMs.

It all started with a systematic mentorship program that wasinitiated at all the campuses of the Indian Institutes of Technology. Themain activity of the mentorshipprogram was to provide mentorship from an alumnus to a current student. While doing so, volunteers discovered that there was a huge pool of academic talent in US Universities. This prompted the idea of creating a dedicated

platform for Indian professors inUS universities.

Personal Social ResponsibilityAEIOU’s new focus is to focus on what it calls Personal Social Responsibility. This is an extension of CSR (Corporate Social Responsibility). AEIOU plans to set up PSR Centers in several cities around the world. Currently, it has a plan to mentor 7500 students at the high school level throughout the world. It plans to co-create a PSR strategy for each of them.

It is clear that so far Indian management gurus studied and worked in the US and Europe. In the years ahead, their influence will be more global.


IndianGurusSpecial

Rank 13

Nitin Nohria

The dean of Harvard Business School, Nitin Nohria is ranked

13 in the list. The present dean has served in various senior positions at HBS including the co-chair of the Leadership Initiative, senior associate dean of faculty development and head of the organizational behavior unit. The author, co-editor of 16 books and over 50 journal articles, working papers and books has recently published his new book, " The Handbook of Leadership Theory and Practice", co-edited with Rakesh Khurana.

The book pulls together the most modern thinking on leadership associated with number of experts who attended a leadership colloquium structured by Nitin during the School's centennial celebrations. His three books, "In Their Time: The Greatest Business Leaders of the 20th Century", "Paths to Power: How Insiders and Outsiders Shaped American Business Leadership" and "Entrepreneurs, Managers, and Leaders: Leadership Lessons from the Airline Industry" glances at the history of American leadership. The books scrutinizethe lives of great leaders, theirpath to power and lessons to belearned by them.

Rank 3

Vijay Govindarajan

Vijay Govindarajan, popularly known as VG, is ranked at number 3.

He is the Earl C. Daum Professor of International Business at the Tuck School of Business at Dartmouth College in New Hampshire.He is a leading expert on strategyand innovation.

He also received the Breakthrough Idea Award for the $300 House Initiative. His outstanding books include "Ten Rules for Strategic Innovators" and "the Other Side of Innovation". "The Other Side of Innovation" draws spotlight on how to change an innovative idea into a successful commercial business.

He has also worked with Jeff Immelt, General Electric's CEO and written a article with him collaborating with Chris Trimble which introduces the concept of reverse innovation and is rated by Harvard Business Review as one of the ten big ideas of the decade, and is the title of his forthcoming book, (with Chris Trimble), to be published by HBR Press in April 2012. Govindarajan has beenranked above Jim Collins (4),Michael Porter (5), Roger Martin (6), Marshall Goldsmith (7), and Marcus Buckingham (8).

The number of Indian-bornmanagement gurusjoining the list of thetop 50 thinkers is going up in the Thinker50, published every two years. The highest was in 2011 with eight in the list,only next to the numberof US gurus.

The ranking is basedon voting at the Thinkers50 website (www.thinker50.com) and input from a team of advisers led by Stuart Crainer and Des Dearlove. The Thinkers50 has ten established criteria by which thinkers are evaluated on originality of ideas, practicality of ideas, presentation, style, written communication, loyalty of followers, business sense, international outlook,rigor of research, impactof ideas and the elusive guru factor.

Eight Indian management gurus make it to Thinkers50 list


Rank 26

Nirmalya Kumar

Ranked 26, Nirmalya Kumar is a marketing professor at London

Business School. Apart from that, he is also the co-director of Aditya Birla India Centre.

The growth of India as an economic force and marketing strategies are his domain of focus. He is credited with introducing the concept of "3Vs": valued customer, value network and value proposition. His books like "Marketing as Strategy: Understanding the CEO's Agenda for Driving Growth and Innovation", "Global Marketing" and "Private Label Strategy: How to Meet the Store Brand Challenge" focuses on the marketing strategies.

In India's Global Powerhouses: How They Are Taking on the World, Kumar gives an insider's guide to doing business with Indian leaders and companies. His latest book "India Inside: The Emerging Innovation Challenge to the West", is co-authored with Phanish Puranam, a London Business School colleague.

Rank 27

Pankaj Ghemawat

The Anselmo Rubiralta Professor of Global Strategy at IESE Business

School, in Spain, Pankaj Ghemawat is ranked 27th in the list.

Popular for his efforts on globalization, he authored books like "Games businesses Play: Cases and Models", "Creating Value Through International Strategy", "Redefining Global Strategy"; "Crossing Borders in a World Where Differences Still Matter" and "Strategy and the Business Landscape".

His latest work "World 3.0: Global Prosperity and How to Achieve it" scrutinizes the assumptions made regarding globalization. He disagrees with the idea of single global economy as mentioned in the 'The World is Flat' by Thomas Friedman.

Rank 40

Vineet Nayar

Vineet Nayar, the Vice Chairman and CEO of HCL Technologies, a

global information technology services company based in India, is raked 40th. His exceptional management philosophy of placing his employees first and customers second stimulated his triumph. His book "Employees First, Customers Second" speaks about his management upheaval.

Following his less conservative management system, Nayar never minds a dance with company's employee both on stage and in the crowd. He feels it reduces barriers between CEO and employee. With an engineering degree in India, followed by an MBA, Nayar boarded HCL back in 1985 and became the president of the company in 2005, CEO in 2007 and Chairman in 2010. HCL has won awards for best employer and most influential upcoming companyunder Nayar.

Late Prof. C.K. Prahalad is the only Indian to top the list.In fact, he did it twice - in 2007 and 2009. In terms of big impactideas, the Indian gurus in the list are several notches behind CK


Rank 48

Sheena Iyengar

Sheena Iyengar is the S.T. Lee Professor of Business at Columbia

Business School, and research director of the Jerome A. Chazen Institute of International Business.

Iyengar is best known for her work on choice. She received the Best Dissertation Award from the Society of Experimental Social Psychology in 1998, for her dissertation, "Choice and Its Discontents."

Iyengar's award winning book, The Art of Choosing was published in 2010. In it, Iyengar examines the many facets of choice: how and why people make choices, how other factors influence choice. Her aim is to better equip people to cope with the overwhelming variety of choice in everyday life.

Iyengar’s own choices have not been easy. By the time she became a teenager Iyengar's deteriorating sight (she has a degenerative retinitis pigmentosa) meant that she was already unable to read, and by her late teens she was completely blind.

Despite discouragement from some quarters, Iyengar pursued her ambitions to go to college, and pursue an academic career.

Rank 41

Rakesh Khurana

Ranked as 41st Rakesh Khurana is the Marvin Bower professor of

leadership development at the Harvard Business School. His main focus is into macro-organizational theory and the dynamics of executive labor markets. Famous for his book ‘Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs,’ Rakesh has authored and edited four books and several articles.

His managerial articles throw light on the problems associated with fascinating leadership. "From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession" is his second book that deals with the expansion of American business education and the profession of management elevated fundamental queries about the efficiency of business education and the types of business leaders and managers they have been educating.

Khurana is also the co-author with Nitin Nohria, that positions dominance for generating value for society as the purpose of management.

Rank 50

Subir Chowdhury

Subir Chowdhury is chairman and CEO of ASI Consulting Group and

a globally respected quality expert and strategist. He advises CEOs and senior leaders of Fortune 100 companies as well as organizations in the public, private and not-for profit sectors all over the world, helping them make quality a part of their business culture.

Tagged the “The Quality Prophet,” by Business Week, Chowdhury is the author of the international bestseller The Power of Six Sigma: An Inspiring Tale of How Six Sigma is Transforming the Way We Work (2001), (translated into more than 20 languages), and 12 other business titles. His Design for Six Sigma (2002) is the first book on the topic and credited with popularizing the DFSS philosophy worldwide.

His book The Ice Cream Maker (2005) is a business novella about Pete and the ice cream factory he manages; in which he introduces the next generation management system - LEO – Listen, Enrich and Optimize. The book follows Pete as he improves his business by applying LEO principles; this bestselling book was distributed to every member of the US Congress.

Chowdhury’s latest book is “The Power of LEO: The Revolutionary Process for Achieving Extraordinary Results (2011)”Source: The Thinkers50

IndianGurusSpecial


Year 2008 - Captain Gopinath had successfully sold off Air Deccan, the airline that revolutionised and

democratized air travel in India. He has already floated his new venture Deccan Cargo. However, Deccan Cargo was being managed in a way completely different from how he had built and managed Air Deccan. The most prominent deviation being Captain Gopi roping in a management guru to advice and guide him through the process of setting up his new venture. The guru beingRam Charan.

Interestingly, Captain Gopinath was a hands-on manager while building his first company. He believed in his gut more than any other consultant’s advice. While, in the second company he was open to taking advise of an external consultant or guru, even open to paying top bucks. Considering that Captain Gopinath’s new venture would be focusing on India and its hinterland, why would he ever hire a management consultant who was not based out of India. Why would he choose an Indian born international guru over an Indian born guru practicing exclusively in India?

Incidentally, the word guru itself is of Indian origin - denoting someone who is knowledgeable and someone who is willing to impart his knowledge to his disciples in a structured manner. Indians were always good at this - be it Ayurveda, Yoga or in the universities of Nalanda and Taxila or in statecraft during Mahabharata times or Maurya kingdom times. Which is probably the reason several Indians have acquired prominence world over among the list of management gurus.

It might have all started with Sumatra Ghoshal - someone whom I knew and respected immensely. Ghoshal, incidentally, was most unlikely to be a management guru, especially in India, where his early education was in Physics and he worked in IOC. But in the latter half of his life, as he researched at MIT, his work focused on the matrix structure in multinational organizations, and acquired guru like prominence. Even, if as we observe the others in the list - be it CK Prahalad, or Ram Charan, we see that on one hand they are not too different from the Indian born Indian gurus, yet they are different in their own ways - the reason why the likes of Captain Gopinath prefers them to the Indian bred ones.

One of the key differences that I havenoticed is the fact that though guru is an Indian invention, management still remainsa largely American dominated one - where US claims not just the invention of management practice, but also holds tightly the innovations that happen in the field of management. Most US firms have perfected the art of management practice, comparedto the Indian firms - where almost every one of them are still stuck in family based, informal management systems, reluctant to adopt the more professional ways of management. For an Indian bred guru, this means, in his practice ground, India, management gurus are still perceived as just a good to have or a good to flaunt entity, compared to his US counterparts who are perceived as an essential to the management system itself. So, simply put, an Indian born international management guru probably has best of both the worlds - he is born in a place

IndianGurusSpecial

Why and how Indian-born management gurus succeed in the West

Sangeeth VargheseLeadership thinker andthe author of‘Open Source Leader’.


where the art of being a guru is invented,and is practicing in a place where management is invented.

Second, a management guru is someone similar to a doctor or a lawyer - who gets better with more practice, and more disciples, simply because he is exposed to more cases and more intricacies, from which he can draw for his subsequent clients. Diagnosis becomes easier as a guru solves more cases, and as he talks to more people. Which simply means, again the western - or US - counterpart has again an undue advantage over his Indian one.

University system vs.standalone IIMsThe third edge that a western-bred India guru has is the university system of the west, which most of them come from. Unfortunately, in India, we treat management as a separate discipline, where you see standalone management institutions like IIMs, XLRI etc compared to the US, where good management institutions are almost always associated with a university-be it Harvard, Stanford or MIT. We see that successful management gurus - be it Ram Charan orC.K. Prahalad - come from a university system of management education. University system helps management students to draw from not just management as a subject but other related subjects like sociology, psychology, economics and even unrelated subjects like physics, engineering or molecular biology, to draw important lessons that could be applied to managing organisations.

I believe that this last point is an important one in the creation of a successful management guru - because he should be one who can easily draw from seemingly unrelated subjects and someone who can break down complex problems into simple ones. A university education helps you to focus on your subject at the same time draws from the problem-solving approaches of various other subjects. Unfortunately, this is not possible, if you are limited to an island of a management institution like IIM.

The western university system also enables a close interaction between academics and practitioners - treated essentially as two sides of the same coin - where theories are constantly tested in the field and practice is constantly adding on to theory in the form of case studies, models etc. In India, the academic system is again far away from practice itself, which is again one of the reasons why CEOs trust someone with western exposure as compared to pure Indian gurus.

At the same time, I also believe that the future of management is not about US or the West, but it is about the growing economies like India and China. Our management systems definitely would not be reflective of the US type of management. While the West might have a systematic approach to most things, our approach might be more chaotic, more unorganised. A pure western-born management guru might never be able to appreciate this because he would always look at the problem through his western lens. An Indian-born international guru would be able to marry both these worlds very nicely - which is probably what we are seeing in Ram Charan as he breaks down the complex problem of GE comparing it to the small dingy Bata showroom in Kolkota where he once worked.

But as far as Indian born Indian practicing management gurus, they have some more distance to cover. They still would have to acquire the western rigor, of a CK Prahalad or a Ram Charan, as well as the western focus on practice. They would still have to handle more cases where companies put complete faith in adopting their advice before they can claim a niche of their own.

A university education helps you to focus on your subject at the same time draws from the problem-solving approaches of various other subjects. Unfortunately, this is not possible, if you are limited to an island ofa management institution like IIM


DeanTalk

Your influential home-grown management guruIndian Management gurus

in the West like Vijay Govindarajan, Nitin Nohria, Nirmalya Kumar, Pankaj Ghemawat and Rakesh Khurana are being accepted globally and recognized for their contributions to Management.

Padma Shree Professor Pritam Singh could well be India’s most popular management guru. With his entrepreneurial vision and path-breaking methods Dr. Pritam Singh turned around the fortunes of both MDI Gurgaon and IIM Lucknow. A thought leader with extraordinary insight, Dr. Singh is the author of several reputed books, three of which are award winning. Dr. Singh’s transformational leadership has also brought about a sea-change in the corporate world. He not only developed the business leaders for the corporate world but also

nurtured academic leaders to lead top business schools.

How should Indian management teaching catch up?The Indian management teaching is out of sync with the market place. We cannot develop the leaders of today and tomorrow with existing curriculum. The business world is changing faster than ever before. It is essential to update the curriculum regularly. A global-focused curriculum is essential to deal with complex business scenarios.

The B-school faculty are not aligning themselves enough with industry best practices. There aren’t enough industry-academia interaction. More study tours, consulting and industry research projects will help.

Today, there is a need for global leadership, cross-cultural

Dr. Bhimaraya Metri, Dean of Strathclyde SKIL Business School and former Dean of MDI, Gurgaon, discusses various facets of the current status of management education in India and how to take it to the next level in a chat with ManagementNext at Shangri-La in New Delhi recently

Thereisaneedtoadoptaholisticapproachtodeveloping MBA students in sync with the ever-changing managerial and leadership scenarios in this borderless economy. It is very important for management institutions in India to reinvent MBA programs through strong corporate connect, a strong research base and a global outlook

More internationally-accreditedbusiness schools needed

understanding, entrepreneurial spirit and innovation for a successful career. In India, students study large number of courses in two-year management programs whereas in West students study fewer courses. There should be more flexi rooms, team rooms, knowledge infrastructure for the students to develop critical thinking and analytical skills, reflections and team-based learning.

There is an acute shortage of quality faculty in B-schools. There is also an imbalance between academically-qualified faculty and professionally-qualified faculty. The latter are good at courses like Strategic Management, Advertising Management, Brand Management and some finance courses. And academically-qualified faculty should focus on research-led teaching along with theoretical concepts, models and frameworks. There is a need for proper combination of both in all B-schools.

Current executive educationscenario in IndiaThere are two ways to undergo executive education. One is Executive development programs and other is executive MBA. The one-year executive MBAs are popular in most of the top B schools in India. They include about


In India, students study large number of courses in 2 year management programs whereas in West students study fewer courses

Padmashree Professor Pritam Singh

3-4 weeks overseas learning in 3-4 countries for international exposureand cross-cultural understanding. Part-time executive MBAs which are of three-year duration with classes in the evenings or weekends are also gaining popularity among the working professionals.

The executive education programs follow multi-faceted approach to learning that equips the participants with new business skills andenhances interpersonal capabilities.The biggest benefit of executive education is that the participantslearn theory and best practices from both faculty and peers who arefrom different companies in different sectors. The participants benefitfrom the diverse perspectives of peers, job functions and industry sectors.This diversity allows the participantsto gain global business skills and insights to operate successfully anywhere in the world.

CXOs should teach tooFormer and current CEOs should teach the management students to share their experience, particularly, practical application of tools and techniques, great success stories and celebrated failures which normally are not available in any of the text books. Students really understand the business and its strategy from business leaders which normally students appreciate more than learning from the management faculty.

Several B-Schools are beginning to conduct regular business leaders–students interface. They should become regular, deep interactions and not confine to a few pep talks.

How to develop world-class faculty?The teaching load on Management faculty is increasing by the day while the student numbers rising and the resources are not keeping pace with growth. The faculty therefore have no time for research which does not generate revenue for the institute? There is a need for a proper balance between teaching, research and institutional building activities. It can typically be in the 40:40:20 ratio.

Management faculty at all levels should get performance-based package which is most common in US business schools. Even the government policy on research should include performance-based funding. Linking funding with research performance encourages the management faculty to produce quality and quantity research which ultimately builds the research culture

and consequently it opens the door for research-led teaching.

International accreditation with European Quality Improvement System (EQUIS), the Association to Advance Collegiate Schools of Business(AACSB) and the Association ofMBAs (AMBA) provides a seal or label that differentiates the school from its peers at the national and international level. This differentiation drives the school to more widespread recognition and to greater appreciation of its brand name globally. This is quite natural that best of the best talent would like to associate with such a renowned business school. However, in India, there are only a few premier business schools that have international accreditations whereas in the West, a sizable numbers of business schools have triple accreditations.


KMSpeak

Many organisations have had knowledge management (KM) and innovation initiatives for a

decade or more. Some have succeeded well; others have floundered or lost direction. How do organisations sustain and scale up KM and innovation despite management change, increasing workload and changing directions/demographics? How pain points are addressed in terms of process, culture and knowledge champions? What renewed role do KM and innovation play in the 21st Century organisation?

The recent monthly meeting of the Bangalore K-Community (www.Kcommunity.org) addressed these concerns of long-term KM initiatives. The panel ended with the provocative question, "What would Steve Jobs have said about KM and innovation?"

Here are the Top Fifteen recommendations of the six panellists to sustaining KM success and innovation in the long term.

Connect KM to the business goals of the organisationA key challenge for long-running KM initiatives is to show that they are relevant and essential to achieving the organisation’s business goals. Continuous business alignment is needed to show that KM worked not only in one phase of the organisation’s evolution but remains essential

throughout business lifecycles. KM professionals should not get stuck in their jargon and metrics, but learn to talk the language of their business as well. KM leaders should be involved in co-creation of strategies with top business leaders.

Demonstrate that KM is essential for the growth of an organisationEffective KM practices can help new recruits learn quickly and effectively,and hit the ground running.Good KM environments can help employees learn on the job andimprove their productivity whenfaced with their next tasks. For instance, Infosys will soon be hiring 45,000new employees; KM will help them prepare for customer-facing engagements such as consulting. Its KM portal experiences submissions of 60-100 documents a day and 5,000 downloads; there are over 50,000 knowledge artefacts which have been validated by experts.

Don’t just ask what customers want today. Go with your gut feelings and develop a good sense of intuition in addition to knowledge and logic

Here is a list of success factors gleaned from interaction of top panellists at K-Community in Bangalore recently

by Madanmohan Rao

Knowledge Management

15 success factors

Madanmohan Rao is the editor of theKM Chronicles.Twitter @[email protected]


Show that KM can stem knowledge lossParticularly for organisations where a large proportion of the workforce is retiring in the next few years (e.g. Indian public sector units), KM can help reduce knowledge attrition and thus KM initiatives need to be sustained and nurtured.

Create the right kinds of conversationsMake sure there is online and offline space for the rights kinds of conversations in the organisation, even if these may be of a critical or controversial nature. The challenge sometimes is in finding that the right kinds of conversations emerge in more unusual situations. Don’t just look at pumping employees with knowledge and measuring their output; look at the conversations they are involved in. “Enterprise Conversation Management” and “Enterprise Community Management” may be as important as “Enterprise Content Management!”

Align KM culture with the work expectations of multiple generationsFor the first time in history, there are four generations of employees working in the same professional organisations. But each generation has different expectations when it comes to choice, rewards, achievements and work-life balance. KM cultures, practices, tools and incentives should be aligned for all generations.

Align organisational KM with individual personal aspirationsParticipation and leadership in KM initiatives should ‘make sense for the resumes’ of employees and be aligned with their personal aspirations. A sense of pride should be inculcated in employees for their knowledge sharing behaviours.

Nurture the passion for knowledge sharing, it will solve everything elseInstead of worrying about tool/infrastructure details like whether email should be phased out and social media ushered in, just focus on creating and

nurturing the appropriate knowledge culture of passion, sharing, curiosity and professionalism. It is important to keep this culture vibrant even as an organisation grows in scale, domains and geography. Once you have a solid culture, you can piggyback a range of KM tools and processes on it.

Balance 1: Universal and customised approachesSome KM features (e.g. portals, CoPs) seem to cut across all KM practices, but others may need to be tweaked or home-grown to meet local organisational needs. Some practices work well in the industrial/manufacturing sectors, others fare differently in services and government organisations.

Balance 2: Quantitative and Qualitative MetricsIt can help to use quantitative metrics, but don’t ignore qualitative statements which endorse the gut belief of top managers that KM works.

Not all KM practices can be rolled out via pilot projectsSome pilots for KM will just not work if their scale is too small; you can find some knowledge behaviours (e.g. serendipitous discovery) only if the scale of the KM initiative is organisation-wide.

Find and nurture KM championsKM champions help reinforce knowledge sharing cultures. Find champions and teams who ‘get’ the KM spirit and highlight their work practices and achievements. Peer-driven KM can work better than top-down KM.

Use a phase-wise approach to KMCompanies who have been in KM for

10+ years (e.g. Chevron) evolved their KM strategy over phases: eg. best practices (KM 1.0), connecting people (KM 2.0), knowledge transitioning to a new generation (KM 3.0).

Connect KM to InnovationWhile a lot of KM focuses on ‘old’ knowledge (lessons learnt, experiential knowledge, organisational history), there are some overlaps and enablers for ‘new’ knowledge or innovation strategies. Innovation approaches like networking, experimenting and observation apply to KM as well; KM should effectively leverage idea management practices too. While a lot of KM focuses on ‘internal’ knowledge, efforts should be made to bring in ‘external’ knowledge and ideas as well. Good companies to learn from are Amazon, IDEO and Apple. KM may help incremental innovation, but extra effort will be needed to create disruptive innovations.

The number of patents as knowledge assets is not always a guarantor of business success

Don’t obsess with filing for large numbers of patents when you connect KM with intellectual capital. An estimated99.8%ofawardedpatentsare never used. And the company with the largest number of patents in the world, GM, went bankrupt last year!

Learn from Steve Jobs!Even for those who are not users of iPods and iPads, Steve Jobs and Apple offer useful lessons for KM and innovation management, according to the panellists. Bridge knowledge between different domains. Don’t just ask what customers want today. Go with your gut feelings and develop a good sense of intuition in addition to knowledge and logic. Hire creative and imaginative people. Be with the best. Learn from innovations of other organisations. Go visit other organisations. Pursue what is mysterious. Encourage eccentricity.

Peer-driven KM can work better than top-down KM


GuruSpeak

During your recent India visit how did you find Indian business leaders reacting to the current

uncertain global business environment?I fear that most of our business leaders and managers do not have deep understanding of the fundamentals of what ails the global economy. For example, the Eurozone problem is a huge one and could ultimately be responsible for a second dip; but it seems to be off the radar of Indian businesses. As another example, the S&P downgrade was a political decision and, frankly, a distraction from the central challenges for the US economy. There is absolutely no question about the credit rating of the US – it will always be in a position to pay off its debts, at least for the foreseeable future. The real challenge for the US is that it has a structural problem in terms of where

Bhaskar Chakravorti is senior associate dean of International Business & Finance at The Fletcher School, Tufts University and executive director of Fletcher’s Institute for Business in the Global Context and its research arm, the Center for Emerging Market Enterprises. He is the author of the book, “The Slow Pace of Fast Change.”

You have to come back for a refresh in your thirties and in your forties and fifties - otherwise you might be locked in yesterday’s paradigms

new employment is going to come from. With nine percent unemployment and 46 million below the poverty line, it is set up for recessionary and political turmoil.

Inflation was a far more important concern than recession of Indian leaders. I was in India in the thick of the “post-Anna” fever. The combination of euphoria about the power of a grassroots based civil society movement and cynicism about corruption and incompetence among the political elite seemed to have taken over everybody’s attention. The US and Eurozone economic crises seemed to be a more distant phenomenon.

Has the public policy domain evolved enough in India? Why should it be led by a business schools these days and not by independent think tanks?Frankly, no. Of course, there are the giants who feature in the public policy discourse and there are many talking heads on television, but I worry we are not injecting new ideas and fresh talent into that pipeline. Many of the giants and talking heads are from my university days and before.

A second concern I have is that the understanding of global issues may

have taken a back seat during this fast ride on the nine percent growth highway. There is so much going on in India – and then of course there are political scandals, regional insurgencies, cricket and Bollywood – that there is no room in the media for coverage of global affairs. For India to take its seat at the table with other major economies, our public policy has to encompass international public policy; I fear that even for our veteran policy wonks the focus is overly narrow and it is on domestic issues or some issue that has some urgent relevance to India. How much do we care about issues in Latin America or Japan? Broader demographic trends? The US-China relationship? The China-Africa relationship? Even the Arab spring seems to have got relatively toned down coverage in India.

India’s frenetic pace of growth, several domestic issues and the decreasing importance of the top bureaucracy is resulting in public policy debates getting less attention. If India is to play a significant role, which it aspires to in the globalized world, the public policy institution should be brought back to the mainstream, arguesProf. Bhaskar Chakravorti, Senior Associate Dean at the Fletcher School, Tufts University, in a chat with ManagementNext

Make Public Policy Cool Again


I fear that most of our business leaders and managers do not have deep understanding of the fundamentals of what ails the global economy

Finally, we are increasingly heading to a business environment where smart people will want to have multiple careers during their professional life. Executiveeducationis often a great way to pivot, re-charge and find a springboard to a new career

Why should a management school take the lead? Many reasons: First, the private sector has been the engine of the “new” Indian economy. Public policy has to work hand-in-hand with the private sector for it to be truly effective. Second, there are a number of innovations and best practices from management that could enormously enhance the skill set and productivityof the public sector and policy.Third, going back to my earlier point,we need to make public policy “cool” again. The brand equity of an Indian School of Business and of The Fletcher School, America’s oldest exclusively graduate school of international affairs, can help re-create the allure that the IAS and IFS or the Planning Commission used to have.

The executive education ecosystem is still premature in India. How can it become more effective? With foreign players coming, how will the market play out?Executive education will become more effective as we better integrate academic and textbook knowledge with problem-solving and analytical learning and combine it with an expectation that knowledge should also help the student make better decisions. This requires both a curricular change and a change in mindset. This is a pre-requisite for more effective executive education – because these concepts make sense only when you are in an executive or decision-maker role and can understand how to make the connection between theory and practice.

Second, we need to create an environment where there is a realization

that the world is changing much too fast. It is not sufficient to train just the twenty-somethings. You have to come back for a refresh in your thirties and in your forties and fifties – otherwise you might be locked in yesterday’s paradigms.

Third, it is important to recognize that students learn from their peers and their experiences as much as they learn from the professor. This peer-to-peer interaction is at the core of good executive education.

Fourth, organizations need to create time, space and funds available for their managers to attend such programs. It has to be an immersive experience for the executive being educated. You cannot do it while you are doing two jobs or when your mind is focused on responding to the emails and phone calls streaming in from the office.

Finally, we are increasingly heading to a business environment where smart people will want to have multiple careers during their professional life. Executive education is often a great way to pivot, re-charge and find a springboard to a new career.

What is your view of the India Way (India’s unique management model)? Does it apply only to the top 50 or so Indian businesses, or the entire spectrum including the SMEs?

I am not quite sure there is a single ‘India Way’. I am sure there is a ‘way’ that applies to Infosys, another that applies to Tata, a third that applies to Bharti and fourth to Reliance. They are all recognizably Indian and yet they are very distinct ‘ways’. Maybe the common elements can be boiled down to three major ideas: One, the acceptance of plurality, i.e. there is no One Way. Two, the ability to improvise, adapt and find a bypass around every roadblock. Three, a clear focus on self-preservation and self-interest, which drives both the entrepreneur who wants to build something and build it fast and the bureaucrat who has the power to stand in the way.

To some extent these ideas are a profound example of innovation that arises out of conditions of adversity – which is something that we have created and scaled up quite well in India and is universally applicable in all regions of the world.

There is a severe dearth of quality faculty for management schools in India. What is the solution?In the short-term, create reasons for faculty from other parts of the world to come as visiting faculty as a stop-gap. In the long-term, we have to create an environment for recognized world-class research and high profile advisory roles for faculty to make it appealing for star faculty to join. All you need is a 1-2 stars in a given institution; they have a contagious effect and attract others.

That said, I believe there are too many management schools in India. We should probably focus on a top tier for this quantum transformation of faculty quality and for the rest accept the fact that they are primarily going to play the role of screening students of different levels of ability and will be convenient hubs where employers can go for recruiting. These institutions should take the responsibility to provide the students a modicum of core skills and basic literacy in business – and a network that will serve them later in life.


CoachingSpeak

How can organizations build leadership capacity?Economic uncertainty is the

“new normal”, something we have not seen since the Great Depression. In mature economies, the imperative to “think different” and aging demographics has created a hugeneed for leadership in organizationsand society.

In emerging markets, it is an issue of organizational maturity. With their focus on chasing market opportunities and rapid growth, companies simply have not had the time or made an investment on leadership development. In these organizations, a small number of world-class leaders at the top are guiding a large population of followers.

The result is a leadership vacuum across the organization. Companies are now are asking themselves, “are we still nimble and are we losing our competitive edge to capture opportunities in the market?” This is huge!

Likewise, in society, we need a lot more leadership to think of complex issues such as corporate greed vs. societal good or social responsibility, how to build communities and participate in nation building. The Anna Hazare phenomenon is a good example.

There are no pure managers and pure leaders. What is the secret to having the best of both the worlds?I’d like to think in terms of percentageof time people spend in theirday-to-day role on managerial vs. leadership activities.

In my view, managerial functions include things like process, structure,reporting, tracking operationalmetrics and instrumentation through feedback mechanisms. The focus is more on the “how”. Managers are critical in any organization to maintain predictability, reduce risk and bring only incremental change.

Leadership functions includeidentifying new market opportunities, technologies, products, services, providing vision, building a strategy, setting direction, as well as defining metrics and guidelines that managers can execute on. Leaders relentlessly pursue new possibilities by looking out of the window to ask “what next”.

How can an organization build its leadership capacity? By giving people more time to contribute to leadership functions. This requires making management systems more efficient and predictable by creating a culture and reward systems that honor high-standards, trust, accountability and

competence. The funny thing is, in order to improve management systems, we need to bring out the leader in each person and nurture their creative ideas!

How do you determine if a manager has leadership capabilities before putting him/her in a leadership role?It is very simple. If a person has been a good manager, it is likely that they can define processes well, motivate people, excel in execution and drive predictability. Key questions to ask if they are ready for a leadership role are - whether the person has put up their hand to be a “change agent” onrisky initiatives, whether they caninspire and influence people to put their trust, energy behind their ideas, vision and strategy.

In a knowledge-based global economy, CEOs are craving for new ideas. Spark matters! A good question to ask would be, “is this person a thought leader?” Domain expertise, understanding market shifts and technology inflection points is key. Curiosity, hunger to learn and networking ability, both within the company and in the industry is critical.

Managers can get by withoutbeing great communicators. Not so, as a leader. As humans, we are all tribal beings. A good way to test if one can inspire others is to gauge their

Ram Kedlaya on how organizations can build leadership capacity and manage the transition of managers to leaders better in a chat with ManagementNext

Metamorphosis from a manager to a leader


Ram Kedlaya is a business and career coach based in Silicon Valleyand India. He is founder & CEO of Group Tminus, a global leadershipdevelopment company that brings unique insights from executiveexperience across 17 countries in start-ups and Fortune 100 companies.

storytelling abilities. Even the gifted Steve Jobs practiced for over amonth before an event such as the iPhone launch.

Leaders perspire, so they can inspire others! That’s what this it is all about!

What mental and emotional shifts happen while managers transition to leadership roles?Quite a bit.

Managers typically execute on direction set by others. On the other hand, a leader sets the direction. This is amajor shift. Managers like stabilityand order. Leaders shake things upand thrive on change and uncertainty. The uncertainty factor brings a lot of fear. Without a spirit of adventure to say “why not”, managers will never transition to leaders.

Managers thrive on their analytical prowess and ability to build predictive models based on cause and effect analysis. Often times, when there isn’t adequate data, as a leader, one makes bold decisions based on intuition.

Even good managers get confused between motivating and inspiring. One motivates others primarily through encouragement, frequently leveraging rewards and incentives. But to inspire others, one needs clarity, self-belief and the ability to touch the heart and soul of people to ignite their passion. This is what leaders do.

A simple self-test for a person to determine if they are leadership material is to ask themselves, “if I were to starta company, what unique expertisedo I have and can I inspire

others to join my team”? This can be a scary question for many managers to ask of themselves!

What role can a coach play to groom a person into a leader?Coaching is different from mentoring. A mentor is typically a subject matter expert that a mentee reaches out to, for advice and guidance on an informal, ad-hoc basis. On the other hand, a leadership, life, business or sports coach engages in a formal relationship with a coachee and enables them by asking powerful questions, to help them discover their full potential by being their “true authentic self”.

This is exactly what Gary Kirsten brought to the winning Indian cricket team that won the World Cup with his coaching philosophy - “I always endeavor to influence players in a positive way and give them options so that they can grow both as cricketers and as people”.

A great example of coaching is the contribution made by Phil Jackson in helping Michael Jordan become the “greatest basketball player” of all time. We all know Michael Jordan wasa tremendously talented basketballplayer. However, in his first few yearswith the Chicago Bulls, although hewas the league’s highest scorer andaveraged 45 plus points in a game,his team lost in the National BasketballAssociation championship playoffs,because Michael was beingsurrounded by multipledefenders in the opposing team.When Phil Jackson joined theteam a few years later as coach,he asked Michael a simple, yetpowerful question, “Michael,

do you want to be a hero or doyou want to win championships”?He then went on to inspire Michaelto discover himself through ZenBuddhism techniques. Heencouraged him to build“leadership capacity” in the teamby raising the capability levels ofother players.

The result was that the oppositioncould no longer predict who in the Bulls team would handle the ball at any time, since there were so many competent players in the team. Michael continued to be the league’s most profilic shooter, but also became the league’s most valuable player in both defenseas well as number of assists.

Phil Jackson was able to inspire Michael to graduate to his “full potential” from being a great basketball player to a great all-round player and leader of the teamtosynergize“1+1=11”andkeepthe opposition guessing. The result - Chicago Bulls won the championship6 times with Michael. That’s the power of a coach!

The return on investment from a coaching engagement is huge. Coaching can simultaneouslyhelp individuals fulfill their careerand life ambitions and enable organizations build leadership capacity to scale their business.


TennisSpecial K.C. Devarajan, 73, is one of the first to arrive at 6 a.m. at the True Bounce Tennis Academy

courts in Bangalore. He plays for over two hours and beats many youngsters half his age in straight sets. His motto is, ‘We do not stop playing becausewe are old; we grow old because we stop playing.’

Devarajan retired from Tecil Chemicals and Hydro Power, Kottayam, Kerala, where he was the general manager commercial for 12 years. He had played cricket for a long time but switched to tennis when he was told that he can play this game as long as he wanted. Moving to a metro like Bangalore where he gets to be around many younger players, he says, keeps his spirits high. When asked how he can afford an expensive game post retirement, he retorts, “Paying money for the game is better than paying to the doctor.”

Playing a sport regularly has many believers and practitioners. And among all the sports, it is said, tennis is one where you can start at five and play well at 75. Ask Khushwant Singh, 96, one of India’s best known authors. He played tennis every morning well into late 80s and still nurses his Scotch while editing and writing his books. His latest book The Sunset Club hit the stands two months ago.

Many young Indian executives and entrepreneurs are taking to tennis to beat work stress and to stay fit. With apartment complexes in metros offering health clubs with one or two tennis courts, demand for tennis is on the rise. Just like the English Premier League notching up big fan following in India, tennis and golf have become the game of choice for the upwardly mobile Indian middle class. Their interest can be sustained only if the number and quality of coaching improves substantially.

What’s more, playing tennis is many times better than going to a gym. Hariharan Iyer, VP, Tenvic, a sports management company run by Anil

Tennis is More Than a Sport

Executives and business leaders who play tennis well may have an unfair advantage in the intense, dynamic and unforgiving world of business. Here are a few insights from a few players on how playing tennis can also result in greater self discovery

by Benedict Paramanand

www completes a volley atTrue Bounce Tennis Academy courts


Kumble, former India test captain,says playing takes you to the nextlevel of fitness, which is, your mindalso works along with your body whilein the gym your mind wanders everywhere and can be under stress. With a game like tennis you can align your mind and body better because you can play a full game even with one partner unlike other team-based sports like footballor cricket.

Tennis and businessWhere tennis scores above all other sport is the close resemblance of the game to a player’s life. Those whohave reflected on its life lessons, even swear by it.

For R. Gopalakrishnan, Executive Director, Tata Sons, “Playing tennis helps you to accept defeats well and to move on.” He plays tennis at Bombay Gymkhana regularly. Apart from tennis and 44 years of top corporate life, Gopalakrishnan finds time to write books as well.

His second book (The first one The Case of the Bonsoi Manager)titled Penny Drops: Learning Whatis not Taught, is meant to helpleaders understand themselves and their own barriers to success. Gopalakrishnan writes, “Recently, I began the 44th year of my management career. I reflect on the valuable lessons that I have learned on my journey…your aspirations, motivations and learning style strongly influence what you learn and from where.”

Describing the role of fitness inthe context of physical self hewrites: “I doubt that an unfit,stressed chief executive makes

a positive impression on theinvestors or customers of hiscompany.” He encourages everyone to reflect on oneself and to learn by identifying the success mantras embedded in themselves and releasing the lessons that might be entrapped within themselves. Even today, only three per cent of leadership development occurs due to classroom training and coursework and the rest outside, including a sport.

Many of Gopalakrishnan’s deepinsights could have come from the way he plays his game of tennis and watching others play. “If you want to win,” he once said in a lighter vein, “Tell your opponent that he is playing well. You will see his game drop immediately.”Richard Branson, the 61 year old flamboyant chairman of the Virgin Group, has tried his hand in all kinds of sport including going around the globe in hot air balloons. His outlandish new ventures are taking tourists to space and to the deepest oceans. He wrote in his column in the New York Times

recently that fitness was his hobby and he continues to “play tennis, sail and, more recently, to kite-surf.”

Unforced errorsThe debate about playing aggressive tennis and playing not to make errors or winning from the opponents’ errors will go on. The foremost votary of the safe play is retired Honeywell CEO Larry Bossidy. He argues that good ideas are a dime a dozen. Success is not in big new ideas but in doing what it takes to make sure simple, mundane steps get executed. He said, “Stay back at the corporate baseline, hit routine shots and don't hand points to your competitors.”

In his book ‘Execution: The Discipline of Getting Things Done’ a business best seller for two years in mid 2000, he wrote: "There are great visionaries who accomplish little because they don't attend to the weaknesses that cause unforced errors. Many CEOs have something akin to a weak backhand. The great ones figure out how to overcome it at least enough so that they can keep the ball in play until there is an opportunity to hit a sure winner.”

An unforced error at the worst time is called a choke and good managers probably avoid choking at crucial times. The worst unforced error, it is said, is playing it safe and still hitting the ball into the net.

No one recommends abandoning aggressive play altogether. Tennis has evolved towards more risk taking. Serena Williams, for example, aggressively goes for winners more often than past female champions.

ManyCEOshavesomething akin to a weakbackhand.Thegreat ones figure out how to overcome it at least enough so that they can keep the ball in play until there is an opportunity to hit a sure winner – Retired HoneywellCEOLarryBossidy

Adults Weekend LeagueCorporate Tennis

[email protected]

The key in tennis, and probably business too, wait for the right opportunity to pounce on the short ball. It's a fine line, and champions have an instinctive ability of knowing when to pull the trigger.

After analyzing the Wimbledon data in 2004, an IBM study pointed out that "The ideal strategy is one that minimizes errors while maximizing aggression."Running a company is like playing tennis, except they "keep moving the net and changing the slope of the court," Thomas Malone, professor of management at the MIT Sloan School of Management and author of The Future of Work said.

The 80-20 ruleMost executives swear by the Pereto Principle that 80 percent of sales come from 20 percent of the clients. In tennis too, according to Tomaz Mencinger (tenniserver.com), understanding the basic tactical patterns – when to play cross court, when down the line, how to cover the court properly, where to serve and return – could make 80 percent of your game against anyone. The other 20 percent of your tactics are adjustments to your opponent's weaknesses and strengths.

In his blog titled ‘The Secret of Playing Good Tennis’ Mencinger lists a few other secrets of playing good tennis:

• Play the game, not the opponent• Cut that connection between missing

a shot and your inner worth• You need to accept your current

state – technique, tactical knowledge, physical abilities and mental skills - and feel good about them and have the desire to improve

• Trying very hard to fix a problem like a weak backhand is a negative process and could worsen the situation

• When we play within ourselves, we can achieve more

Shoaib Ahmed, president, Tally Solutions, picked up some valuable life lessons from the book Inner Tennis by W. Timothy Gallwey. On the positive side-effects of playing tennis, he says, “The power of learning through relaxed concentration has been a great inspiration for me. This insight has given me the confidence in managing my teams, in trusting their innate capabilities and creating an environment which will allow them to flourish.” The book, published way back in 1976, is a must-read for all tennis players. The book’s well-known insights are about letting go, trusting your body and applying the principle of non-judgment to play good tennis. These insights may well be applied to all relationshipsand situations.

Clearly, playing a sport regularly keeps both the mind and the body agile which are essential for succeeding in any venture or profession. With business cycles shortening and stakeholder pressure ever increasing, business leaders and executives are bound to be under immense stress. Only those who are able to learn and apply lessons from their outer environment like a sporthave a better chance of hittingwinners regularly.

Thekeyintennis,andprobably business too, is to wait for the right opportunity to pounce on the short ball. It’s a fine line, and champions have an instinctive ability of knowing when to pull the trigger

Picture courtesy Nalin Solanki

R. Gopalakrishnan attempting a drop shot at Mumbai Gymkhana Club


TennisSpecial

How long have you played tennis and what has been your experience?I have been playing tennis for over 15 years. My

exposure to tennis was during a vacation with a group of friends holidaying at Annamalai coffee plantations. For the first time in our lives, we had access to a tennis court. The court in-charge was very encouraging and made us believe that we had in us to play the game. On our return from the holiday, I joined a tennis club and become a regular player. I did get into a regular routine, playing every morning and soon realized that I had become addicted to the game.

Over the years, I do believe that I have improved and become a lot more skilled, yet what takes me to the court every day is the sheer joy of immersing myself in the set, chasing every ball, and stroking it with all my strength. The satisfaction of working out and breaking into a sweat and constant effort in outwitting your opponent is sheer JOY.

How does it help in your mind game - which you apply in business or personal life?One of the important lessons that I have learnt is that my game is a lot better when I am not trying too hard to win. This realization has helped me in my preparation for a

presentation. I perform a lot better now and able to articulate my thoughts and communicate a lot more effectively. My understanding that stress can distort performance hence its important to manage it, has helped at work. Similarly, I have a better understanding of social pressures and the associated stress, and am able to create a lot more relaxed environment around me. However, to me the biggest pay of is a fantastic family!

How has the book Inner Tennis helped you in managing your expectations?Inner Tennis is a must read, not just to learn tennis, but to learn to live and enjoy life. I have always been impressed in the manner with which the ball pickers (ball boys) pick up the game by just watching us on the court. The power of learning through relaxed concentration has been a great inspiration for me. This insight has given me the confidence in managing my teams, in trusting their innate capabilities and creating an environment which will allow them to flourish. Yes, understanding this behavior leads to an additional pressure on my behavior, and if there is something which I don’t like in what I see in my children or my team mates at office, I first check my behavior, and only if I am satisfied that I am not the cause, do I attempt any corrections on them.

Shoaib Ahmed, President, Tally Solutions, on the positive side-effects of playing tennis, in a chat with ManagementNext

You lose if you try too hard to win

I do honestly believe that we all take ourselves too seriously. Nothing can

be more enjoyable then playing a game, which brings out the child in you.Tennisisafantasticsportand

can be played gracefully even as you age. It gives you a daily high,

which keeps you healthy and happy.


TennisSpecial

Dr. G.V. Krishna Reddy, Founder and Chairman of GVK Industries, is well known in the sporting circles as a generous promoter of sports, especially tennis. His most popular student is Sania Mirza’s. With desi business acumen and a Owner/President Management (OPM) Program from Harvard Business School, GVK is today one of the biggest players in India’s infrastructure play. Dr. Reddy set up a tennis academy in Hyderabad to groom youngsters and sponsors GVK AITA Veterans Tennis Championships.

Dr. Reddy shared his experience and enthusiasm for tennis with TennisIndiaMagazine recently. Excerpts:

Indian tennis’ Santa Claus


Favorite Men’s Player of the pastPete Sampras

Favorite Men’s Player - currentRoger Federer

Favorite Women’s player of the pastSteffi Graf

Favorite Women’s player - currentVery difficult to answer

Favorite tournament Wimbledon

Favorite surface to watch Clay

Favorite tennis shot to watchBackhand down the line

Your favorite shot Forehand drive

Favorite Music Instrumental

Favorite MovieI rarely watch movies

Favorite Book My office papers

Favorite Food Chinese

Favorite Drink Coconut water

Which other sports do you like apart from tennis?Always Tennis, Tennis, Tennis, but I also like volleyball

Favorite quote for successSuccess is only hard work, initiative and perseverance. One should wait for results. Results do not come immediately.

How did you spot Sania Mirza?I love tennis and that’s why I thought I should promote it

among the young players who have the talent but are from middle-class families. My close friends and associates play along with the young boy or girl and gauge their talent. We have a committee that selects promising boys or girls. Even Sania was selected like that. After her parents insisted we evaluate her talent, we agreed to let her play with us and display her game. When she played as a young child, we saw her talent and decided to sponsor her.

Does playing tennis help your business skills and decisions and keep you mentally and physically active throughout the day?That’s why I am sitting here in this position. Playing tennis helps me inmy business. Any exercise for anybody, along with a few habits like getting up early, will make him happier and increase work efficiency throughoutthe day.

What is your message to veterantennis players?Veteran players are retired people, and they need an avocation and exercise. They should not feel that they are old and left out. They should feel that they are young and look forward to playing tournaments so that they can encourage younger generation to also play tennis. There is no age bar to play tournaments. Lot of veterans who have retired from their service jobs are very active with tennis. Other sports are very difficult to play at that age - maybe badminton or squash is fine - but playing other sports is not possible.Golf is another fine sport, but not everybody can afford it. I think many people can afford tennis and likeplaying it at that age.

Article courtesy: Tennis India Magazinewww.tennisindiamagazine.com

Sania Mirza with Mr. Reddy.Sania was one of the big beneficiaries of GVK’s sponsorship.

Quick-fire Q&A with Dr. Reddy


CaseStudy Sponsored Feature

as CD. On Account side, for the official use it shows the clients details like address, phone number, TIN number, VAT number, Bank account when invoice is generated.”

“On Post-date entries, here suppose a customer issues a post-dated cheque, the invoice issued will deduct this amount from the bill and in VAT computation, C-Form filing is made easy.” He added.

“We use a Group accounts feature, in this the clients have been segregated into groups and when we enter a particular group’s name. The outstanding bill is displayed from this group which is time saving. In Bill receivable and payable feature, suppose at the end of the year when we check for outstanding we can check at one shot the receivable and payable amount (outstanding and liability) and in Sale register and purchase register feature, the total sales and purchase in the year can be seen thus helping to assess the turnover of the company.” He said.

Solid solution“Tally is user friendly, affordable, one has to take only the initiative to install the software. In terms of maintaining accounts, inventory, filling VAT, TDS and other requirements of the Income Tax is also taken care. One solid solution for the business. It covers all levels of security and can assign user and security levels as per the requirement. Business wise we can generate all the reports regarding sales and payments.” Mr. Baboolal commented.

Kishor Srinivasa Setty, B E Solution Pvt Ltd. Master Tally Partner said, “We have been interacting with Nilesh Auto Distributors for the past 2 years. We installed Tally.ERP 9 in Jan-2010. Customisation has been basically on billing side. For example, On Credit limit, each customer has a fixed Credit limit and the user cannot raise new invoices for these customers until the credit is cleared. Every invoice will announce when the bill is to be paid and till date what is the balance. On price level concept, there are three categories – Wholesale, Retail and End user and each customer is segregated into these groups and discounted accordingly. This is an inbuilt feature in Tally.”

Tally.ERP 9 puts Nilesh Auto Distributors in top gear

Baboolal Gandhi is a diploma holder in Electrical Engineering and joined this automobile spare parts business in the year 1973 and in order to gain the

experience of this trade he worked in different organization till 1989. In 1990, he established Nilesh Auto Distributors in 2008 in Bangalore.

Nilesh Kumar Gandhi, S/o Baboolal Gandhi, is a graduate in commerce and joined the company in 1992. Nilesh Auto Distributors, are reputed dealers of automobile spares for the last 21 years and currently employ 24 employees of which 20 are engaged in wholesale division and the remaining in the retail division. They are the authorised dealers of Rolon Chain Sprockets, Minda, Falcon tyres, TVS tyres, Ceat, Shriram, Endurance, Exide, SKF, Tata Bearings, ANL brake shoes, Hta oil seals, Veedol Oil, Elf lubricant to name a few.

Mr. Baboolal Gandhi, speaking about Tally said “I was introduced to Tally by our account auditor since he too was using it and when he explained the features we opted for Tally and another thing was to avoid discrepancies between us. We installed the software in 2006.”

Highlighting its features he said, “On Sales side, we have included a feature to display Cash Discount (CD), that is, if the party pays the amount before the fixed date he is eligible for 2% discount and this is displayed in the bill


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CaseStudy

A veteran freedom fighter and social entrepreneur Padma Shree Prematai Purav and her late

husband union leader Dada Purav set up Annapurna Mahila Mandal (AMM) in Mumbai to provide micro credit and allied services to poor working women in 1975 in the wake of a decade long mill workers’ strike. Their major objective was to empower poor women holistically by using microfinance as a tool. AMM was one of the pioneering organizations in India working in the field of urban microfinance.

After the demise of Dada Purav in 1982 AMM slowly started losing its focus on microfinance and started providing support to destitute women in training and catering activities. Over the years, till late 1990s, AMM became a social organization providing a variety of services such as a working women’s hostel, training, catering activities as well as microfinance. Most of the activities were basically run on charities and grants. The organization did not have clear sustainable strategy.

Their daughter Dr. Medha Purao Samant started microfinance activities independently in Pune, in 1993 as a non legal entity but under the banner

of AMM. By the beginning of the 20th Century, microfinance industry was undergoing lot of changes. Competition from various sectors such as commercial banks, NBFCs, co-operative banks was intense. Many players had entered to pursue their profiteering interests.

The market was clearly getting divided into two major groups of thosepursuing ‘credit only’ policies or ‘minimalist’ policies and those pursuing ‘credit plus’ policies or ‘integrated’ policies. With growing interest of various types of organizations in microfinance, regulatory policies were also becoming more stringent. Technology to reach potential clients was changing. Various financial delivery models and channels to deliver services were emerging. Microfinance clients were becoming more and more discerning and aspired to have not only more and better financial services but also other allied services like life and medical insurance, child care services, etc.

The main objective of the case is to enable student understand the dilemmas faced by a social enterprise in achieving the dual goals of economic sustainability along with social

Transformation ofAnnapurna Mahila Mandal into Annapurna Pariwar

by Prema BasargekarAsst. Professor, K.J. SomaiyaInstitute of Management Studiesand Research, Mumbai

This case was part of the top ten winners of the The Indian School of Business (ISB) and Richard Ivey School of Business (Ivey) Case Competition 2011


objectives. It helps students become aware of challenges and opportunities of a social enterprise in a complex and dynamic business environment. It makes students aware of various options which are available with the social organization which can have long term impact on its social objective as well as on its growth and sustenance.

Person-driven to process drivenAnnapurna Mahila Mandal faced the challenge of transforming itself from person driven organization to process driven organization in order to become economically viable. In this process it was required to take few vital decisions such as:• Developmentofproductofferings

with changing needs and aspirations of the clients in order to pursue its social goals.

• Providingaproperlegalstructuretothe organization: Each legal structure such as cooperative society, trust, NBFC, commercial bank has its own pros and cons. Selection of a legal structure can have long-run repercussions on an organization’s growth and sustenance.

• Perfectingdeliverymodel:Eachfinancial delivery model or business model such as SHG, Grameen, Joint Liability Group (JLG), individual banking, etc has its own merits and demerits. The business model needs to be suitable to the socio- economic context and also worry about scale, growth and sustenance.

• Usingtechnology:Adoptingan appropriate technology is a daunting challenge for many social organizations.

• Facingcompetition:Inthelong-run social organizations always have to face competition either for acquiring and retaining clients from other social as well as from for profit organizations or for acquiring resources such as finances, manpower, etc.

• Buildingpartnerships:Finding

suitable alliances that would have common or similar social vision and at the same time would not interfere or hinder the growth

• Theleadershipstyle:Changingleadership style to transform organizations from person-driven to process-driven requires bringing about changes in policies, processes and organizational culture.

Major learningThe case encourages critical analysis of all the options open along with its trade offs. The data and the information given in this case encourage discussion on vital decisions faced by social organizations to sustain and grow in the long run. It could help students understand the need for restructuring in order to bring out a balance between two apparently opposite goals of social objectives and economic viability. The case enables students to understand how various decisions such as selection of a legal structure, business model, use of technology, choosing partners, laying down of processes, etc. can have a long-run impact on growth and sustenance of the organization.It provides a useful insight on leadership role in social enterprise in bringing out transformation.

Changing leadership style to transform an organization from a person-driven to process-driven requires bringing about changes in policies, processes and organizational culture


Today, emerging leaders need to remain coachable. As executives move up, they hear less feedback

about their leadership impact. By seeking, receiving and using feedback from another executive, HR professional or LD coach, executives maintain the potential to be more reflective, effective, visionary and successful.

Without coaching, executives can cause career derailment. Here are the symptoms: Inflated self-importance;

ego gone awry; inability to work with different people; overuse of position power; poor use of communication and influence skills, inability to form functioning teams, inability to change. Executives must short-circuit the causes of derailment with personal resiliency and interpersonal awareness.

With much of the blame for economic uncertainty being put on a lack of good executive leadership, we must re-examine our notions about leadership. The traditional, fear-based, boss-centered, command-and-control type of management still used too frequently is seriously flawed and has failed to prevent executives from following their own selfish agenda. Also, productivity is confined by this type of management. Workers must not be held captive by a few managers who selfishly hold leadership hostage from others.

Executives must move on to a more integrated understanding of leadership involving all stakeholders, with an integrative focus on completing the mission to achieve the strategic vision. We need to allow leadership practices to flow to all areas of the company.

If the influence on an executive’s practice of leadership was derived from traditional, linear models of management of the past, he or shemay not be prepared for thenon-linear world of a global economy. To lead and inspire others, an executive must know the story of leadership and how it differs from the story of management. Also, some practices of management may even be harmful to the practice of leadership. There are executives who are not coachable,and their career and their peoplesuffer in silence.

Are You Coachable?

by Peter J. Dean

If coachable, an executive can seize opportunities for leadership that exist in everyday interactions with colleagues, bosses, and customers

Toleadandinspireothers,anexecutivemust know the story of leadership and how it differs from the story of management

ThoughtLeadership


Executives who remain coachable will avoid this situation and prevent professional derailment. Remaining coachable is driven by and succeeds because of the executive’s ability to remain open to personal feedback. If one truly wants to learn leadership, it is important to make an honest and earnest attempt to learn, grow and develop specific collaborative skills. Coaching helps executives apply positive leadership behaviors, and avoid actions that cause derailment.

Finally, coaching provides an excellent start for an executive to build a leadership library and knowledge in the field of leadership studies. Leader development is not about obtaining a corner office or a lofty position title.

It is about mastering the fundamentals of leader development:

• Understandingtheshort-termfocusof management, but using the long-term view of leadership

• Monitoringandmanagingahealthyego, emotional intelligence and ethics

• Usingeffectivelyfivesourcesof power: Intrapersonal Power, Knowledge Power, Interpersonal Sensitivity, Position Power, and Political Power

• Learningtouseandexpandacoachable leader’s sphere of influence beyond the sole use of position power

• Communicatingcomprehensively(Dialoging, Listening, Empathizing, Attending, Presenting Yourself, Speaking and Networking)

• Learningthedynamicsofworkgroups as they develop into effective teams

• Aligningworksystemsusing

the inter-play between individual performance, team performance and work systems

If coachable, an executive can seize opportunities for leadership that existin everyday interactions with colleagues, bosses, customers, analysts,bankers, and vendors. How to recognize a coachable executive? He or she exhibits a healthy ego, integrity, fair-play, participation, productivity, responsibility, emotional intelligence, knowledge of how to use power and influence, comprehensive communication, know-how in developing teams collaboratively and in envisioning strategic change.It’s a long list of attributes. A coachable executive wants to master each one.

Rreprinted with permission fromLeadership Excellence


Spirituality

Sadhguru answersa very common question of people between 40 and 50 years of age - I have been experiencing a deep feeling of emptiness in my life. Is this my mid-life crisis? When was your life not a crisis?

Childhood was a crisis, adolescence was a crisis,

searching for a career was a crisis, midlife is a crisis, menopause will be a crisis, old age will be a crisis, death will be a crisis. So when is your life not a crisis? Midlife must be balanced, isn't it so? The problems of the youth are over; the problems of old age are yet to come. Midlife should be the best part of your life, but you are calling that also a crisis. It is not that midlife is a crisis - you are a crisis.

What is being passed off as midlife crisis is just that to some extent, the energy of youth is gone. When you were youthful, you probably lived blatantly. Now the energy is running out, you can’t party until four o’clock in the morning anymore, so you think it is a crisis.

What you call a crisis is just a change.

You don't know how to deal with the change, so you are calling it a crisis. If you don’t want change, either you must go to your grave, or you must get enlightened. Otherwise, as long as you are a part of the physical process of the existence, there is nothing that does not change. This moment you inhale; the next moment you exhale - this is change. When you resist change,you resist the fundamental process of life, and invariably, you will invite allkinds of suffering.

Life is just situations. Some situations we know how to handle, some situations we do not know how to handle. So if you live a life where you already know how to handle every situation that is going to come up, you will die of boredom. If you do not know how to handle the next situation that is coming up, you should be excited, but you think it is a crisis.

If you face a situation that you do not know how to handle, that is when you have to organize your body, your mind, your emotion, and your energy in the best possible way, so that you can figure out how to handle the situation

PanicatMid-life

If you are involvedwith life,you willneverfeel it isa crisis


Boredom or crisis,the choice is yoursSo there are only two options - boredom or crisis. Don’t make life into a double whammy where you lose both ways. If you face a situation that you do not know how to handle, that is when you have to organize your body, your mind, your emotion, and your energy in the best possible way, so that you can figure out how to handle the situation. But you don’t want to organize these aspects of who you are because they have become like a concrete block, which does not want to change. This concrete block wants to go through every stage of life in the same shape and form - this will not work.

When you are forty, and you still want to go about your life as if you were eighteen, you will feel forty is a crisis. Forty is not a crisis, nor is eighty a crisis, nor is death a crisis. It is a natural

process of life. Because youget identified with one stage of life,the next stage feels like a crisis.Nothing is a crisis; there are just situations in your life; life will anyway change. Is it changing the way you want it, or is it changing haphazardly? That is the only question.

Whichever way it changes, it is better than stagnation, because human life cannot bear stagnation. ‘Midlife crisis’ just means ‘my life is stagnating.’ ‘Everything is the same - the same house, the same dishwashing, the same

What you call a crisis is just a change. You don’t know how to deal with the change, so you are calling it a crisis

husband - everything feels the same.’ This ‘everything is the same’ is only a mental conclusion you have made. Otherwise, every day, every moment, change is happening in the existence. Change is happening in your body, change is happening in your mind, change is happening in everything - but you have no eyes for life. You are preoccupied with your mind, and your mind has become cyclical. Since it is going through the same stupid cycle again and again, it feels like stagnation and crisis.

If you observe every leaf around you, if you observe everything that is happening around you, you will see life is a constant process of change; nothing is ever stagnant. Both within and outside, everything is constantly in a dynamic process of change. If you are involved with life, you will never feel it is a crisis. You are only involved with your thought and emotion, so it is a crisis. It is good that it is a crisis because otherwise, you will never look for a way out of falsehood. You will settle into falsehood for good.

Crisis is better than a tragedy. If you entertain yourself with your own thought and emotion for the rest of your life, never realizing what you are doing, that would be tragic. Crisis is better than that - crisis could awaken you, but a tragedy finishes you off.

Right now, you need to understand that the crisis is your making. Crisis is 100%themakingofyourmindandyour emotions - not of nature, not of existence, not of creation - just your making. If you do not realize that, you will go on creating crisis after crisis. If you realize it is your making, you do not have to stop it - it will anyway disappear.

Sadhguru, a yogi, is a visionary, humanitarian and a prominent spiritual leader. An author, poet, and internationally-renowned speaker, Sadhguru’s wit and piercing logic provoke and widen our perception of life.www.ishafoundation.org


BookShelf

Steve JobsWalter Isaacson (Simon & Schuster)

Is a memorable biography of the brilliant and maddening man who revolutionized

the way we work and play. Based on more than forty interviews with Jobs conducted over two years-as well as interviews with more than a hundred family members, friends, adversaries, competitors, and colleagues-Walter Isaacson has written a riveting story of the roller-coaster life and searingly intense personality of a creative entrepreneur whose passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing.

Poor EconomicsA Radical Rethinking of the Way to Fight Global PovertyAbhijit V. Banerjee and Esther Duflo (Public Affairs)

Is an enlightening look at what randomized control trials, such as those used to assess new medicines, tell us about

the behavior of impoverished people and how to help them. The Massachusetts Institute of Technology economists describe the rational motivations that underpin "irrational" decisions. We meet, for example, Moroccan villagers who find money to buy televisions, DVD players and cell phones when they can't afford enough food.

India InsideNirmalya Kumar and Phanish Puranam(Harvard Business Review Press)

Through their research and extensive interviews with India-based executives from such companies as AstraZeneca,

GE, Infosys, Intel, and Wipro, the authors unveil the dramatic rise in invisible innovation occurring in India - from B2B products and R&D outsourcing to process and management innovation. The book also illuminates Indian companies’ growing ability to innovate consumer products that are compact, low-cost, efficient, and robust in the face of harsh environmental conditions.

AdaptTim Harford(Farrar, Straus and Giroux/Little, Brown)

The Undercover Economist contemplates why "success always

starts with failure". The book shows us a new and inspiring approach to solving the most pressing problems in our lives. When faced with complex situations, we have all become accustomed to looking to our leaders to set out a plan of action and blaze a path to success. Harford argues that today’s challenges simply cannot be tackled with ready-made solutions and expert opinion; the world has become far too unpredictable and profoundly complex. Instead, we must adapt.

ManagementNext’s

choice of10 BestManagement /BusinessBooks of 2011


Good Strategy, Bad StrategyRichard Rumelt(Crown Business)

Henry Mintzberg has said the only business writer he reads is Prof.

Rumelt, a professor of business and society at UCLA. It shows how strategy goes wrong and how to get it right. The book was also surprisingly accessible, given that it was written by an academic on a topic that can be abstruse.

Great by ChoiceJim Collins and Morten Hansen(Harper Business)

After his towering bestseller Good To Great, a number of critics seemed

to be waiting in ambush for Mr. Collins when this book came out, looking for faults to pick. Ignore them. This is another lively, clearly written book, with his partner this time, University of California’s Prof. Hansen. It has a solid research base that adds some more clues on how to manage for success.

World 3.0:Global Prosperity and How to Achieve itPankaj Ghemawat(Harvard Business Review Press)

World 3.0 dispels powerfully entrenched—but incorrect—

assumptions about globalization. Provocative and bold, this new book explains how people around the world can secure their collective prosperity through new approaches to cross-border integration. Ghemawat’s thinking will surprise and move you—no matter where you stand on globalization.

Extreme MoneySatyajit Das(FT Press)

The derivatives specialist who wrote "Traders, Guns & Money" puts his

inside knowledge to good use in this withering analysis of how 30 years of financial alchemy and excessive credit plunged us into the Great Recession.

The Progress PrincipleTeresa Amabile and Steven Kramer(Harvard Business Review Press)

The husband-and-wife research team had access to diaries of people’s

daily lives at work, and discovered that the key to engagement is feeling that you are making progress. So if you want your staff to feel positive and engaged in their work, help them to make progress - and to recognize the progress they are making. This a pioneering work on employee engagement, with lots of memorable examples culled from those in-the-trenches diary entries.

SpousonomicsPaula Szuchman andJenny Anderson(Random House / Bantam)

A geeky guide to finding marital bliss through economics. Applying

economic research to anecdotes from couples, Szuchman and Anderson draw on concepts such as the division of labor and game theory to help readers determine who should mow the lawn or how to persuade a homebody spouse to join you at the movies. Just as technology has made it easier for countries to be flexible in the global economy, the authors propose, so has the redefining of gender roles allowed spouses to become more adaptable partners.


BookShelf

Unlocking Human Capital To Drive Performance: A CEO’s HandbookSanjiv AnandTata McGraw-Hill, 2012

At a time when talent and human capital are the key differentiators of organizations, a book on unlocking

the hidden potential is timely. Many a time, organizations are incapable of optimally utilizing the human capital they have and because of misdirected policies such potential lays suboptimaly utilized. Ajay Piramal finds a lot of practical wisdom in this book. He finds it easy to read and understand because it portrays a number of real life issues and lessons which can be implemented.

The book could find resonance not just with CEOs and the board of directors of various organizations and with family-run businesses.

Excellence By Design: leadershipThe Six Key Characteristics of Outstanding leadersJohn SpenceMacmillan Publishers India, 2011

John’s book has emanated from 17 years of experience in workshops, speeches and executive coaching to more

than 300 organizations worldwide including; Microsoft, IBM, GE, Abbott, Merrill Lynch, AT&T, Verizon, Qualcomm, State Farm, and dozens of private companies, government offices and not-for-profits. The book is a simple essential business strategies for turning ideas into action.

Ancient Wisdom for Modern HealthMark BunnMacmillan India, 2011

The healthiest, longest living individuals throughout history - who have lived to 80, 90 and even 100-plus years

of age without ever suffering from obesity, diabetes, heart disease, dementia, osteoporosis or cancer - have never heard of good fats, bad fats, low carb diets, glycaemic index, phytochemicals, optimal heart rates, or any other modernhealth ‘fads’. We Westerners drown in such information, yet have rates of cancer, heart disease, diabetes, obesity and stress disorders in epic proportions.

Combining ancient Eastern wisdom (Ayurveda), thousand-year-old spiritual teachings, natural health science secrets, and the latest modern research, 'Ancient Wisdom for Modern Health' will show you how to reconnect to the timeless, natural wisdoms of healthy living.

5 Engaging Ways to Promote Employee Performance & Well-Being: Creating a Helping OrganisationGanesh ChellaTata McGraw Hill, 2011

"This book empowers people to build a bridge between human welfare and organizational performance - in a

manner that only Ganesh Chella could have done." - Dr. Santrupt B. Mishra CEO, Carbon Black Business, Director, Group HR, Aditya Birla Management Corporation. A helping organization is said to be the future need and this books helps in ways to promote it.

46

OffBeat

Why inflation is low inNew Zealand

Seven out of 10 young employees frequently ignore IT policies, and one in four is a victim of identity

theft before the age of 30, according to a recent global study by Cisco announced. Can’t blame them. They grew up with the Internet and have an increasingly on-demand lifestyle that mixes personal and business activity everywhere.

Employers are worried because the desire for on-demand access to information is so ingrained that many young professionals are known to take extreme measures to access

the Internet, even if it compromises their company or their own security. Such behavior includes secretly using neighbors’ wireless connections, sitting in front of businesses to access free Wi-Fi networks, and borrowing other people’s devices without supervision.

At least one in three employees responded negatively when asked if they respect their IT departments. What this does is put big pressure on people charged with balancing IT policy compliance with young employees’ desires for more flexible access to social media, devices, and remote access.

The governor of the central bank of New Zealand is given an inflation target and if he shoots it, he

loses a part of his salary. Surprisingly, because of this measure, only one of its kind in the world, New Zealand’s inflation rates are the lowest in the world at any given point of time. Compare this to some African countries that even cross 1000 percent. Should we have this rule in India? It’s quite possible that the government will not get anyonefor the job.

Vineet Nayar on the dance floor

Marital bliss through economics

Vineet Nayar, MD of HCL, finds himself in the top 50 big business thinkers list because

of his people first, customers second business philosophy. He has taken this philosophy not only to the shop floor but to the dance floor as well. Nayar is known to break into a ‘bangra’ along with his associates whenever there is a function in the company. “It helps to remove the barrier between the CEO and the employees,” he says. Nayar has even written a book on his business philosophy called “Employees First, Customers Second”

All married couples know the crucial role money plays in their lives. Yet, it’s not as simple as

that. That’s what Paula Szuchman and Jenny Anderson (Random House/Bantam) want us to believe in their book Spousonomics. The book is kind of a geeky guide to marital bliss.

The authors are, journalists from The Wall Street Journal and the New York Times, present a radical new idea: Every marriage is its own little economy, a business of two with a finite number of resources that need to be allocated efficiently. With great wit, insight, and compelling stories from real-life couples, Szuchman and Anderson apply bedrock economic principles to some of the most common conflicts in domestic life. For those who think Economics as a ‘Dismal Science’ they may have to change their mind.

India’s future wizkid

How Gen X’s lifestyle is big threat to corporate security


For more event updates log on to visit www.meraevents.comPhone : +91-40-40404160, Email : [email protected]

AIR CARGO INDIAFebruary 1 to 3, 2012, MumbaiWebsite : http://www.stattimes.comEmail : [email protected]

POWER ON 3 Feb- 5 Feb 2012, HyderabadWebsite : http://www.batteryfair.co.inEmail : [email protected]

Dr Richard Bandlers(USA) Business NLP Workshop6 - 10 February 2012, New DelhWebsite : www.indianlptrai ning.com

Water Today 20127-9 February 2012, ChennaiWebsite : http://waterexpo.bizEmail : [email protected]

Oceantex8-11 February, 2012, Goregaon,MumbaiWebsite : www.chemtech-online.comemail : [email protected]

Social Media Marketing Workshop9 to 10 February 2012, KolkataWebsite : www.digitalvidya.comemail : [email protected]

International Power Transmission Expo9 - 11 February 2012, MumbaiWebsite : www.iptex.virgo-comm.comEmail : [email protected]

The Economic Times ACETECH 2012 February 10 -12, HyderabadWebsite : www.abecindia.bizEmail : [email protected]

ENERGY TECH INDIA 2012Feb. 10 - 12, 2012, New DelhiWebsite:www.enviro-nergytechindia.comemail : [email protected]

3rd Shoppers and Consumer Insight forum 2012February 14, 2012, MumbaiWebsite : www.shoppersinsight.net

6th India International Fashion Jewellery and Accessories Show10 to 13 February 2012, MumbaiWebsite : www.iifjs.com

Email Vidya - February 17, New DelhiWebsite : [email protected]

India International Aqua Show, 201210 to 15 February 2012, KochiWebsite : www.aquashowkerala.com/E-mail : [email protected]

Grain Tech Expo 201217 to 19 February 2012, BareillyWebsite : www.indiariceexpo.com/Email : [email protected]

Electronics for You Expo16 to 18 February 2012, New DelhiWebsite : www.efyexpo.comEmail : [email protected]

International Leather Goods Fair18 to 20-FEB-12, KolkataWebsite : www.leathergoodsfair.comEmail: itpzz [email protected],

Concrete show india23 to 25 February 2012, New Delhi,Website : http://www.concreteindia.net/Email : [email protected]

Panacea 2012 23 to 25 February 2012, Mumbai www.naturalproductsexpoindia.com/[email protected]

Mumbai International Boat Show23 to 26 February 2012 , Mumbaiwebsite : www.mumbaiboatshow.comEmail: [email protected]

Tech Vapi 201225 - 28 Feb 2012, Gujarat website: tradeshows.tradeindia.comEmail : [email protected]

India International Seafood Show28 February to 2 March 2012, ChennaiWebsite : www.indianseafoodexpo.comE-mail : [email protected]

Nakshatra 201225 February - 4 March, 2012, New DelhiWebsite www.nakshatrafair2012.comEmail : [email protected]

Isrmax India2nd to 4th February, 2012,New DelhiWebsite : http://www.isrmaxindia.comEmail : [email protected]

Internet Retail Expo 2012 2 to 3 February 2012, GurgaonWebsite : www.internetretailexpo.comEmail : [email protected]

Workshops & EXPOS Update

For more event updates log on to visit www.meraevents.comPhone : +91-40-40404160, Email : [email protected]

National Workshop on Characteriza-tion Techniques in Material ScienceFebruary 1 to 3, 2012,BIKANER, IndiaWebsite : http://www.cet-gov.ac.in

International Conference on Computer Science and Engineering 3 February 2012, NagpurWebsite : http://www.interscience.ac.in

International Conference ON Artificial Intelligence and Soft Computing 4 February 2012, NagpurWebsite : http://www.interscience.ac.in

Trends in The Management of Tourism Industry 6 to 7 February 2012, BangaloreWebsite : www.christuniversity.in/

10 International Kimberlite Conference 2012 6 to 11 February 2012, BangaloreWebsite : www.10ikcbangalore.com

TradeTech India 2012 7 to 8 February 2012, Mumbaiwww.wbresearch.com/tradetechindiaemail : [email protected].

Quest for Innovation in Nanotechnology8 February 2012, CHENNAIWebsite : nanoqin2012.blogspot.comEmail : [email protected]

International Congress on Emergency Medical Service SystemsFebruary 9 -11, New DelhiWebsite : http://www.ems2012.in

ASBM NAMCON'12 9 to 11 February 2012, BhubaneswarWebsite : http://www.asbm.ac.inemail : [email protected]

Applications of Imaging, Visualization, and Optimization Technologies 10 to 11 February 2012.DehradunWebsite : http://ieiuksc.org

INDIZEN’2012 14 to 15 February 2012, PuneWebsite : http://in.kaizen.comEmail : [email protected]

Nullcon Goa 2012 - 3rd International Conference on Information Security February 15 - 18, 2012, Panaji, GOAWebsite : www.nullcon.net

NanoSciTech-2012 15 to 18 February 2012, ChandigarhWebsite : www.nanoscitech2012.comEmail: [email protected]

3rd International Conference on Bioin-formatics and Systems Biology 16 to 18 February 2012, CHIDAMBARAMWebsite : www.annamalaiuniversity.ac.in

Advances in Computer and Communication Technology 17 to 18 February 2012, MumbaiWebsite : www.ewh.ieee.org

National Symposium on Radiation Physics 20 to 22 February 2012, ChennaiWebsite : www.nsrp19.com

Healthcare India 2012 20 to 23 February 2012, New Delhi,Website : www.healthcareindia2012.orgEmail : [email protected]

Propero24 to 25 February 2012, HyderabadWebsite : www.isb.edu/properoEmail : [email protected]

Corrosion Science , Engineering and Technology 2012 24 to 25 February 2012 , PuneEmail: www.coep.org.in

Geomatrix '12 26 to 29 February 2012, Mumbai, website: www.csre.iitb.ac.in/geomatrix12Email : [email protected]

Global Pharma Regulatory 28 February to 2 March 2012, Mumbaiwww.pharmaregulation-india.comEmail : [email protected]

The Solar Future India II 29 February to 1 March 2012, JaipurWebsite : www.thesolarfuture.inEmail : [email protected]

International conference on Eco-Conservation for Sustainable Development 1 to 3 February 2012, Chennai

5th Loyalty Summit 1 to 2 February 2012, MumbaiWebsite : http://www.loyaltysummit.netEmail : [email protected]

Seminar, Conference update

ManagementNext English Monthly Dec.2011 - Jan. 2012 Regn. No. Mag (3) NPP/192/2004-05

Documents

Volume 8 | Issue 11 | Double Issue: Dec 2011 - Jan 2012fletcher.tufts.edu/~/media/Fletcher/Directory/Media/...Volume 8 | Issue 11 | Double Issue: Dec 2011 - Jan 2012 The Many Rewards