I saw 3 idiots recently (one of the brilliant films ever made in Bollywood) - while the movie focussed on the lives of 3 friends it also spoke about the importance of career.
Who should decide what you want to do in life? Your parents?
The answer is NO (in capitals!) Parents are there to guide you but it is "you" who should decide what you want to do in life. Your father might say "you should become a doctor or an engineer or a businessman like me!" Well, if you have an inclination for any of the careers mentioned by your dad then go for it! But if you have an inclination or liking for something else then DO NOT MAKE THE MISTAKE OF FOLLOWING YOUR FATHERS FOOTSTEPS. You will curse your father or your parents for the rest of your life. Why would you want to curse your father for your MISTAKE?
Parents might go against you for choosing the career of your choice - not because they are selfish but because they care for you and want you to be successful. Also, our society as such is not aware of the new openings or opportunities that exist in today's market. I am sure things will change on that front in the next 10 years!
The basic funda is that one must choose a career of his/her choice. By "choice" I mean things that you are "good" at or things that "you like doing". If writing is your "passion" then get a degree in "Arts" and make a career out of it. There are so many options available - creative writer, author, copywriter, ghost writer, journalist, etc. If you love "photography" then do a course in photography - there are so many good institutes in India as well as abroad - just go for it! Don't think about people - they will not be paying for your studies - your father would be.
One can aspire to be a "wildlife photographer", "fashion photographer", "cinematographer", etc.
In short, one must choose a carreer that suits him/her the best - do what you like doing the most (can be anything under the sun). Do not think about people - you will be the one laughing at them once you become successful in your respective career.
Listen to your heart and go for it! Excel in whatever you do - success will come to you on its own!
Tuesday, December 29, 2009
Monday, December 28, 2009
Charlie Munger on How to Become Rich
*************************************************************************
Source: This article was forwarded to me by my investment consultant - "Fortune Money Management Services". I am not the creator of this article.
**************************************************************************
If you don't know who Charlie Munger is, you're missing out. Let's just say that if it weren't for Warren Buffett, Munger might hold the title as the world's most famous investor.
And not just because Munger -- Buffett's right-hand man, and Berkshire Hathaway's co-chairman -- is an extraordinary investor. He is, of course, and he's a multibillionaire. But what makes both Buffett and Munger so appealing to everyday investors is their ability to distill complex investing topics into simple sentences.
Buffett's words of wisdom have been repeated endlessly. But Munger doesn't get enough face time. One of his most overlooked contributions is a very simple 10-point list called the "investing principals checklist," spelled out in his book Poor Charlie's Almanac. Without further ado:
1. Measure risk
All investment evaluations should begin by measuring risk, especially reputational.
Circa 2003-2007, investors loved banks because they were big and made lots of money. What few asked was how much risk they were taking. Right now, investors love companies like Amazon.com and Quality Systems because shares have gone gangbusters. Those who properly analyze how much risk the run-ups have added will end up happiest.
2. Be independent
Only in fairy tales are emperors told they're naked.
Maybe the hardest part of investing is that the greatest odds of being right come when most think you're wrong, and vice versa. If your plan is to watch CNBC and invest in what the most talking heads like, you'll likely end up with average results at best. Some of the biggest winners of 2009 are companies like Ford and American Express both of which elicited nothing but giggles and blank stares earlier this year.
3. Prepare ahead
The only way to win is to work, work, work, and hope to have a few insights.
The past decade was defined by delusions of success: Buy a house, and you'll be rich. Have a credit card, and you'll be rich. Buy penny stocks, and you'll be rich. Live in America, and you'll be rich. None of it was true. But this fact is as true today as it's been for eons: The best way to become financially successful is to work hard, save harder, learn a lot, and invest patiently and prudently. That, or work at Goldman Sachs.
4. Have intellectual humility
Acknowledging what you don't know is the dawning of wisdom.
A related Munger quote: "The iron rule of life is that only 20% of the people can be in the top fifth." Sad, but true. You're not Warren Buffett. You don't know what's going to happen next year. Most people probably can't fully comprehend what Google does -- though its business may seem simple on the face of it. You might not even know what a balance sheet is. It's OK. And not just OK, but vital to admit it, and either pass on things you don't understand, or learn from someone who does. The alternative is going at investing roulette style. Las Vegas is for that. (Better food, too.)
5. Analyze rigorously
Use effective checklists to minimize errors and omissions.
There's truth to the adage that people spend a month researching a new dishwasher, but 10 minutes researching a new stock. Take your time. Be patient. Be selective. Read annual reports. Crunch numbers. Get other people's opinion. This is your hard-earned money we're talking about.
6. Allocate assets wisely
Proper allocation of capital is an investor's No. 1 job.
Last fall, stock funds were liquidated en masse while money market funds got inundated with demand. No doubt this was because investors feared the worst was ahead. But it also took a big, scary event to make people realize their allocation was dangerously skewed. Too many stocks, too little cash. The worst part is that most of these investors had to either sell or increase cash savings at precisely the same time stocks were cheapest.
7. Have patience
Resist the natural human bias to act.
Last fall, I interviewed famed value investor Mohnish Pabrai. I asked Pabrai what his edge as an investor was. "Control over my emotions" was his succinct answer. "That's it?" I asked. "It's huge. You'd be surprised," he responded. He couldn't be more right. It all comes back to one of Buffett's most famous sayings: "The market is there to serve you, not instruct you."
8. Be decisive
When proper circumstances present themselves, act with decisiveness and conviction.
Related to the previous quote, last fall Pabrai began scooping up shares of cratering companies like Teck Resources which later exploded in value. Pabrai's main fund has risen by more than 100% year to date. His decisive actions speak for themselves.
9. Be ready for change
Live with change and accept unremovable complexity.
If the past two years taught us anything, it's that what you don't think can happen not only can, but probably will. In both personal finance and investing, there's no more dangerous place to be than relying 100% on a certain set of circumstances. That's just not how life works.
10. Stay focused
Keep it simple and remember what you set out to do.
As Dale Carnegie said, "Success is getting what you want. Happiness is wanting what you get." It doesn't get better than that.
Source: This article was forwarded to me by my investment consultant - "Fortune Money Management Services". I am not the creator of this article.
**************************************************************************
If you don't know who Charlie Munger is, you're missing out. Let's just say that if it weren't for Warren Buffett, Munger might hold the title as the world's most famous investor.
And not just because Munger -- Buffett's right-hand man, and Berkshire Hathaway's co-chairman -- is an extraordinary investor. He is, of course, and he's a multibillionaire. But what makes both Buffett and Munger so appealing to everyday investors is their ability to distill complex investing topics into simple sentences.
Buffett's words of wisdom have been repeated endlessly. But Munger doesn't get enough face time. One of his most overlooked contributions is a very simple 10-point list called the "investing principals checklist," spelled out in his book Poor Charlie's Almanac. Without further ado:
1. Measure risk
All investment evaluations should begin by measuring risk, especially reputational.
Circa 2003-2007, investors loved banks because they were big and made lots of money. What few asked was how much risk they were taking. Right now, investors love companies like Amazon.com and Quality Systems because shares have gone gangbusters. Those who properly analyze how much risk the run-ups have added will end up happiest.
2. Be independent
Only in fairy tales are emperors told they're naked.
Maybe the hardest part of investing is that the greatest odds of being right come when most think you're wrong, and vice versa. If your plan is to watch CNBC and invest in what the most talking heads like, you'll likely end up with average results at best. Some of the biggest winners of 2009 are companies like Ford and American Express both of which elicited nothing but giggles and blank stares earlier this year.
3. Prepare ahead
The only way to win is to work, work, work, and hope to have a few insights.
The past decade was defined by delusions of success: Buy a house, and you'll be rich. Have a credit card, and you'll be rich. Buy penny stocks, and you'll be rich. Live in America, and you'll be rich. None of it was true. But this fact is as true today as it's been for eons: The best way to become financially successful is to work hard, save harder, learn a lot, and invest patiently and prudently. That, or work at Goldman Sachs.
4. Have intellectual humility
Acknowledging what you don't know is the dawning of wisdom.
A related Munger quote: "The iron rule of life is that only 20% of the people can be in the top fifth." Sad, but true. You're not Warren Buffett. You don't know what's going to happen next year. Most people probably can't fully comprehend what Google does -- though its business may seem simple on the face of it. You might not even know what a balance sheet is. It's OK. And not just OK, but vital to admit it, and either pass on things you don't understand, or learn from someone who does. The alternative is going at investing roulette style. Las Vegas is for that. (Better food, too.)
5. Analyze rigorously
Use effective checklists to minimize errors and omissions.
There's truth to the adage that people spend a month researching a new dishwasher, but 10 minutes researching a new stock. Take your time. Be patient. Be selective. Read annual reports. Crunch numbers. Get other people's opinion. This is your hard-earned money we're talking about.
6. Allocate assets wisely
Proper allocation of capital is an investor's No. 1 job.
Last fall, stock funds were liquidated en masse while money market funds got inundated with demand. No doubt this was because investors feared the worst was ahead. But it also took a big, scary event to make people realize their allocation was dangerously skewed. Too many stocks, too little cash. The worst part is that most of these investors had to either sell or increase cash savings at precisely the same time stocks were cheapest.
7. Have patience
Resist the natural human bias to act.
Last fall, I interviewed famed value investor Mohnish Pabrai. I asked Pabrai what his edge as an investor was. "Control over my emotions" was his succinct answer. "That's it?" I asked. "It's huge. You'd be surprised," he responded. He couldn't be more right. It all comes back to one of Buffett's most famous sayings: "The market is there to serve you, not instruct you."
8. Be decisive
When proper circumstances present themselves, act with decisiveness and conviction.
Related to the previous quote, last fall Pabrai began scooping up shares of cratering companies like Teck Resources which later exploded in value. Pabrai's main fund has risen by more than 100% year to date. His decisive actions speak for themselves.
9. Be ready for change
Live with change and accept unremovable complexity.
If the past two years taught us anything, it's that what you don't think can happen not only can, but probably will. In both personal finance and investing, there's no more dangerous place to be than relying 100% on a certain set of circumstances. That's just not how life works.
10. Stay focused
Keep it simple and remember what you set out to do.
As Dale Carnegie said, "Success is getting what you want. Happiness is wanting what you get." It doesn't get better than that.
Thursday, July 2, 2009
Philips - do they really care about their customers?
I would like to share one of my worst experiences with ezone. We have been regular customers of ezone since their inception (at Haiko mall, Hiranandani Gardens, Powai). Around December, we bought a Philips music system with a 1 year warranty. Within 5 months that system started to give some problems.
On 26th May, we lodged a complaint with ezone who in turn had informed Philips. On 27th some technician from Philips came to our house and told us that he would get back to us within 2 days. He also promised to send someone to take the music system to their service center – this did not happen. We had to again make a call at the Philips service center and they again gave us false hopes.
On 29th May, we went to the ezone store and spoke to the manager. We told him that it is the responsibility of the dealer to sell good quality products to their customers. We were assured by the manager and his attendants that they would look into this matter personally. But, he disagreed that it was the responsibility of the manusfacturer to give good quality products and not the dealer. This is where E-zone lost a good customer.
He then took us to his office and made calls to the manager of Philips and asked them to take this matter seriously. The ezone manager also promised us that they would keep following up on this matter. I don’t think he meant it – because had he followed up I would not have been making this a public issue.
The next day (May 30th) the manager of Philips called up saying that he would send someone to collect the system. We told him curtly that we would need a replacement because one cannot expect a product to die out within 5 months. He argued that these days Philips had been facing some problems and asked us whether or not we would like to get it repaired. We told him that this was not the way to deal with a customer complaint and he better send someone to collect the system. He said that he would give it to us within 2 weeks as one of the parts was not available. We told him that if a part of a particular product is not available in the market then they better stop promoting/selling such products. After a lot of explanation, he finally agreed to send it to us within 10 working days.
On the same day, someone from Philips came to our place to collect the system. Since then we have been following up with the Philips Customer Care (who don’t seem to care about their customers). They promise to either call us up or send us the system – neither of this has happened.
If Ezone and Philips are in the market to serve their customers then they better see to it that they give a complete solution to their customers. If a product dies off within the warranty period then it has to be replaced. False claims and bad quality products will only ensure drop in their sales and will ultimately lead to 0 sales.
One piece of advice to all the BUYERS– THINK BEFORE BUYING ANYTHING FROM EZONE AS YOU COULD BE FACING A SIMILAR SITUATION. ALSO, I THINK PHILIPS HAS LOST ITS CHARM SO ITS BEST NOT TO BUY ANY OF THE PHILIPS PRODUCTS. SAY NO TO PHILIPS.
This complaint was published in Planet Powai http://www.planetpowai.com/news/2806200905.htm (a weekly local newspaper in Powai). they were kind enough to publish this complaint. Upon seeing this complaint both Ezone and Philips have promised for a replacement - let's see when they fulfill their promise.
On 26th May, we lodged a complaint with ezone who in turn had informed Philips. On 27th some technician from Philips came to our house and told us that he would get back to us within 2 days. He also promised to send someone to take the music system to their service center – this did not happen. We had to again make a call at the Philips service center and they again gave us false hopes.
On 29th May, we went to the ezone store and spoke to the manager. We told him that it is the responsibility of the dealer to sell good quality products to their customers. We were assured by the manager and his attendants that they would look into this matter personally. But, he disagreed that it was the responsibility of the manusfacturer to give good quality products and not the dealer. This is where E-zone lost a good customer.
He then took us to his office and made calls to the manager of Philips and asked them to take this matter seriously. The ezone manager also promised us that they would keep following up on this matter. I don’t think he meant it – because had he followed up I would not have been making this a public issue.
The next day (May 30th) the manager of Philips called up saying that he would send someone to collect the system. We told him curtly that we would need a replacement because one cannot expect a product to die out within 5 months. He argued that these days Philips had been facing some problems and asked us whether or not we would like to get it repaired. We told him that this was not the way to deal with a customer complaint and he better send someone to collect the system. He said that he would give it to us within 2 weeks as one of the parts was not available. We told him that if a part of a particular product is not available in the market then they better stop promoting/selling such products. After a lot of explanation, he finally agreed to send it to us within 10 working days.
On the same day, someone from Philips came to our place to collect the system. Since then we have been following up with the Philips Customer Care (who don’t seem to care about their customers). They promise to either call us up or send us the system – neither of this has happened.
If Ezone and Philips are in the market to serve their customers then they better see to it that they give a complete solution to their customers. If a product dies off within the warranty period then it has to be replaced. False claims and bad quality products will only ensure drop in their sales and will ultimately lead to 0 sales.
One piece of advice to all the BUYERS– THINK BEFORE BUYING ANYTHING FROM EZONE AS YOU COULD BE FACING A SIMILAR SITUATION. ALSO, I THINK PHILIPS HAS LOST ITS CHARM SO ITS BEST NOT TO BUY ANY OF THE PHILIPS PRODUCTS. SAY NO TO PHILIPS.
This complaint was published in Planet Powai http://www.planetpowai.com/news/2806200905.htm (a weekly local newspaper in Powai). they were kind enough to publish this complaint. Upon seeing this complaint both Ezone and Philips have promised for a replacement - let's see when they fulfill their promise.
Friday, May 29, 2009
Swami Samartha Maharaj - my guru
Year 2001
In 2001, I had been to US of A to appear for my CPA examinations. This was the third and last attempt at becoming a CPA. At the Mumbai airport, I was asked to claim my baggage from the France airport – for reason unknown. I too did not bother to ask them that.
I got the biggest shock of my life at the France airport - I was told that since I did not have any visa I could not claim my baggage. I spent 2 hours with the officers speaking in broken English and French. Finally, an officer agreed to claim the bags on my behalf and transfer it to my plane.
I reached US safely but my bags did not. Like an idiot, I had also checked in my hand bag. Luckily I was having my passport and money with me. I lodged a complaint for missing bags at the airport and then called up my dad.
I was supposed to go directly to Vermont but since my bags were missing I had to stay in Boston. I got a room in one of the motels. Upon reaching the room, I called up my parents again – I felt like crying. They asked me not to worry – but I knew that they too were scared.
I disconnected the line, fell on my knees and started to cry. I told Swami Samarth ‘Swami tumchya mulala hya adchanitun sodwa. Mala tumchyavarti vishwas ahe. Mala mithi mara swami!’ In about 5 minutes, I got a call from my cousin - Sangi didi from Detroit. Hearing her voice was a relief – she took down the numbers of my lodge in Vermont and agreed to call them up informing them about my delay. She was also in touch with one of our aunt’s staying in Boston. She hung up saying that she would call up Leena Atya and inform her about this problem.
Leena atya was out for some party – but Sangu didi left her a message with my number. I thanked Swami and said ‘Swami tumhi mala baher kadnarach’. In about an hours time, I got a call from Leena atya – she shouted at me for not informing her about my arrival and told me that she and Gautam kaka would come to pick me up the next day.
The next day they picked me up from the motel, took me to the airport and asked the authorities to send the bags to their home. When I reached their place I was shocked to see swami samartha maharaj’s photo in their living room. I was happy to see that Leena atya and her family too were swami bhakts. I again thanked swami – 'Swami Samarth Maharaj tumhi tumchaya mulala tumchyach gharat anlat'.
Akkalkot niwasi Swami Samrath Maharaj Ki Jai!
Year 2006
My mom had given up on finding a suitable bride for me. I too used to get nervous about not being able to find a suitable partner. It was a Friday evening and my mom, sis and I were discussing this over dinner. They had registered me with every online matrimonial site – I checked through the sites but did not like anyone. As usual, my mom got irritated and went back to her room.
That night, I dreamt of going to ‘swami samartha’s math – it was a very beautiful math – I have never seen this math in my life. After offering our prayers, me and my sister (Rujuta) are about to leave when someone calls me asking ‘Arrey, itkya lavkar chalas?’ We turn back and are shocked to see Swami Samarth talking to us. He asked me to tell baba to take care of himself and not to take stress. We spoke about something ( I don’t remember that now). Then I asked him ‘ Swami tumchi sun kadhi detay mala?’ He smiled at me and said ‘ Tula lagnachi khup ghai lagli ahe. Kalji karun nakos – yogya vel alyavar mazich mulgi tula denar mi.’
Next day onwards, I decided not to worry about my marriage since swami would be getting me his own daughter. Year and a half passed by and there were no results. I still had faith in my swami. I remember aai asking me ‘Swaminna athvan karun de parat.’ Again that night I saw him in my dreams – he was sitting in a room. He smiled at me and said ‘Mi ahe azun’. Probably, he wanted to tell us that he remembers his promise.
On 9th Feb 2008, I was supposed to meet a girl called Samira. I had no expectations from that meeting. I decided to meet her alone at Vile Parle’s Café Coffee Day. I saw this girl standing outside the café – I found her to be very down to earth – she was very nervous I could see it in her eyes. (Of course, I too was slightly nervous). We discussed a few things and out of the blue I asked her if she believes in God. She said yes. I told her that I believe in Swami Samartha – on saying this she gave me a broad smile and said that she too believes in him. After that she became very comfortable – we spoke for about 90 minutes and then left the place.
I had liked her but I was still confused. It took me 2 days to decide on this – after all it was the question of my life (our lives rather!). Mom, dad and sis had given up on me. My sis told me that if I reject her – she will never forgive me for it. I was confused.
I told swami ‘ Swami jar hich mazi wife asel tar maza man badla ani signs dya. Jar ka hi mazi nasel tar tichyakadnach rejection yeu dya.'
That afternoon, I was supposed to go for my friend’s wedding. On my way towards the venue – I saw so many pictures of swami samartha that I got down to think if there was something more to it. On my way back home too I was thinking about it. Suddenly, it struck me that swami had promised to get me his daughter. I asked my self – 'give me 3 reasons why I should reject her?' – I could not find any. Swami had indeed changed my mind and as promised had sent me his daughter – I was blind not to recognize her. On that day I gave my approval to my family.
I think Samira has been the best gift that Swami Samartha Maharaj has ever given me. She is not only a good wife but a good friend and a great advisor.
Thank you Swami!
Shri Swami Samartha Jai Jai Swami Samartha
In 2001, I had been to US of A to appear for my CPA examinations. This was the third and last attempt at becoming a CPA. At the Mumbai airport, I was asked to claim my baggage from the France airport – for reason unknown. I too did not bother to ask them that.
I got the biggest shock of my life at the France airport - I was told that since I did not have any visa I could not claim my baggage. I spent 2 hours with the officers speaking in broken English and French. Finally, an officer agreed to claim the bags on my behalf and transfer it to my plane.
I reached US safely but my bags did not. Like an idiot, I had also checked in my hand bag. Luckily I was having my passport and money with me. I lodged a complaint for missing bags at the airport and then called up my dad.
I was supposed to go directly to Vermont but since my bags were missing I had to stay in Boston. I got a room in one of the motels. Upon reaching the room, I called up my parents again – I felt like crying. They asked me not to worry – but I knew that they too were scared.
I disconnected the line, fell on my knees and started to cry. I told Swami Samarth ‘Swami tumchya mulala hya adchanitun sodwa. Mala tumchyavarti vishwas ahe. Mala mithi mara swami!’ In about 5 minutes, I got a call from my cousin - Sangi didi from Detroit. Hearing her voice was a relief – she took down the numbers of my lodge in Vermont and agreed to call them up informing them about my delay. She was also in touch with one of our aunt’s staying in Boston. She hung up saying that she would call up Leena Atya and inform her about this problem.
Leena atya was out for some party – but Sangu didi left her a message with my number. I thanked Swami and said ‘Swami tumhi mala baher kadnarach’. In about an hours time, I got a call from Leena atya – she shouted at me for not informing her about my arrival and told me that she and Gautam kaka would come to pick me up the next day.
The next day they picked me up from the motel, took me to the airport and asked the authorities to send the bags to their home. When I reached their place I was shocked to see swami samartha maharaj’s photo in their living room. I was happy to see that Leena atya and her family too were swami bhakts. I again thanked swami – 'Swami Samarth Maharaj tumhi tumchaya mulala tumchyach gharat anlat'.
Akkalkot niwasi Swami Samrath Maharaj Ki Jai!
Year 2006
My mom had given up on finding a suitable bride for me. I too used to get nervous about not being able to find a suitable partner. It was a Friday evening and my mom, sis and I were discussing this over dinner. They had registered me with every online matrimonial site – I checked through the sites but did not like anyone. As usual, my mom got irritated and went back to her room.
That night, I dreamt of going to ‘swami samartha’s math – it was a very beautiful math – I have never seen this math in my life. After offering our prayers, me and my sister (Rujuta) are about to leave when someone calls me asking ‘Arrey, itkya lavkar chalas?’ We turn back and are shocked to see Swami Samarth talking to us. He asked me to tell baba to take care of himself and not to take stress. We spoke about something ( I don’t remember that now). Then I asked him ‘ Swami tumchi sun kadhi detay mala?’ He smiled at me and said ‘ Tula lagnachi khup ghai lagli ahe. Kalji karun nakos – yogya vel alyavar mazich mulgi tula denar mi.’
Next day onwards, I decided not to worry about my marriage since swami would be getting me his own daughter. Year and a half passed by and there were no results. I still had faith in my swami. I remember aai asking me ‘Swaminna athvan karun de parat.’ Again that night I saw him in my dreams – he was sitting in a room. He smiled at me and said ‘Mi ahe azun’. Probably, he wanted to tell us that he remembers his promise.
On 9th Feb 2008, I was supposed to meet a girl called Samira. I had no expectations from that meeting. I decided to meet her alone at Vile Parle’s Café Coffee Day. I saw this girl standing outside the café – I found her to be very down to earth – she was very nervous I could see it in her eyes. (Of course, I too was slightly nervous). We discussed a few things and out of the blue I asked her if she believes in God. She said yes. I told her that I believe in Swami Samartha – on saying this she gave me a broad smile and said that she too believes in him. After that she became very comfortable – we spoke for about 90 minutes and then left the place.
I had liked her but I was still confused. It took me 2 days to decide on this – after all it was the question of my life (our lives rather!). Mom, dad and sis had given up on me. My sis told me that if I reject her – she will never forgive me for it. I was confused.
I told swami ‘ Swami jar hich mazi wife asel tar maza man badla ani signs dya. Jar ka hi mazi nasel tar tichyakadnach rejection yeu dya.'
That afternoon, I was supposed to go for my friend’s wedding. On my way towards the venue – I saw so many pictures of swami samartha that I got down to think if there was something more to it. On my way back home too I was thinking about it. Suddenly, it struck me that swami had promised to get me his daughter. I asked my self – 'give me 3 reasons why I should reject her?' – I could not find any. Swami had indeed changed my mind and as promised had sent me his daughter – I was blind not to recognize her. On that day I gave my approval to my family.
I think Samira has been the best gift that Swami Samartha Maharaj has ever given me. She is not only a good wife but a good friend and a great advisor.
Thank you Swami!
Shri Swami Samartha Jai Jai Swami Samartha
Wednesday, May 6, 2009
Lost soul
******************************************
This post was written in a hurry and needs some editing.
******************************************
The date is May 7, 2013. It's 8 am in the morning and I am wide awake and thinking aloud "What has gone wrong? Why are people ignoring me? Is it the people that have changed or have I changed?" As usual there are no answers and I get up and make my way towards the bathroom.
My family gives me a vague look as if I am a stranger coming out of their son's room. Hello guys - its the same old Akshay - whats wrong with you?" They just ignore my words and get back to their respective rooms. Worst was yet to come - I could not recognize the person standing in front of the mirror. I take a quick shower and run out of the bathroom.
I thank my wife for keeping my clothes and other stuff ready. My wife looks at me with a sarcastic smile and says "At your service sir! Is there anything else you want me to do?"
Something is seriously wrong. I ask her "What is the matter? Have I done something?" She said "You are not the person I loved before marraige - you are a different person altogether." She leaves the room upon saying this. I am dumb founded -no words to express my feelings.
I reach office and start checking my mails. Around 1130, I decide to meet my old office folks - its been a while since we met. Thanks to our busy schedules we could no longer have those mini meetings over lunch. More than the lunch it used to be the discussions that we used to look forward to everyday but now they were history.
My friends too give me a cold smile and get back to their laptops - this was one of the most heartening sights. I felt like jumping out of the window and ending this God damn life.
I get back to my solitary confinement (read as cabin) to ponder over the recent events. I suddenly realize that it was I who had messed up all the relations. I got so busy in the rat race that I had no time for family, friends and colleagues. It was I who had changed and not the people around me. Not anymore - I will be the same old Akshay from now on - I will continue to give my best at work but will also spend time with my loved ones. I take out my notepad to make notes on how to have a perfect work-life balance. There is a loud ringtone that disturbs my flow of thought and I hear someone saying - "Akshay, please turn off the alarm!".
I suddenly wake up and find my wife sleeping next to me. I pinch myself and find that I am very much awake. I check my cell phone and find that the date is May 7, 2009. Phew! What a nightmare! But it did teach me a lesson - I should learn to have a perfect work-life balance. If work gives you the money to run your family it is your family for whom you are working - equal importance needs to be give at both ends.
This post was written in a hurry and needs some editing.
******************************************
The date is May 7, 2013. It's 8 am in the morning and I am wide awake and thinking aloud "What has gone wrong? Why are people ignoring me? Is it the people that have changed or have I changed?" As usual there are no answers and I get up and make my way towards the bathroom.
My family gives me a vague look as if I am a stranger coming out of their son's room. Hello guys - its the same old Akshay - whats wrong with you?" They just ignore my words and get back to their respective rooms. Worst was yet to come - I could not recognize the person standing in front of the mirror. I take a quick shower and run out of the bathroom.
I thank my wife for keeping my clothes and other stuff ready. My wife looks at me with a sarcastic smile and says "At your service sir! Is there anything else you want me to do?"
Something is seriously wrong. I ask her "What is the matter? Have I done something?" She said "You are not the person I loved before marraige - you are a different person altogether." She leaves the room upon saying this. I am dumb founded -no words to express my feelings.
I reach office and start checking my mails. Around 1130, I decide to meet my old office folks - its been a while since we met. Thanks to our busy schedules we could no longer have those mini meetings over lunch. More than the lunch it used to be the discussions that we used to look forward to everyday but now they were history.
My friends too give me a cold smile and get back to their laptops - this was one of the most heartening sights. I felt like jumping out of the window and ending this God damn life.
I get back to my solitary confinement (read as cabin) to ponder over the recent events. I suddenly realize that it was I who had messed up all the relations. I got so busy in the rat race that I had no time for family, friends and colleagues. It was I who had changed and not the people around me. Not anymore - I will be the same old Akshay from now on - I will continue to give my best at work but will also spend time with my loved ones. I take out my notepad to make notes on how to have a perfect work-life balance. There is a loud ringtone that disturbs my flow of thought and I hear someone saying - "Akshay, please turn off the alarm!".
I suddenly wake up and find my wife sleeping next to me. I pinch myself and find that I am very much awake. I check my cell phone and find that the date is May 7, 2009. Phew! What a nightmare! But it did teach me a lesson - I should learn to have a perfect work-life balance. If work gives you the money to run your family it is your family for whom you are working - equal importance needs to be give at both ends.
Wednesday, February 11, 2009
Customization
*************************************************************************
Source: This is an excerpt from one of my presentations on 'customization'. I OWN this article; it is solely based on my experiences.
**************************************************************************
What is Customization?
Source: This is an excerpt from one of my presentations on 'customization'. I OWN this article; it is solely based on my experiences.
**************************************************************************
What is Customization?
- Getting a pizza with the toppings of your choice – is customization.
- Cars modified by DC – is customization.
- Getting tailor-made suits/dresses - is customization.
So, basically giving something more than your usual service offering is customization. Please note that customization often comes with a premium.
Myths around customization
- Retail clients will never have customized requests – they do have customized requests but often avoid asking for it to avoid the premium.
- Customization is not worth the efforts put in by us.
- Clients with special requests are painful – they are not painful in fact these are the clients who have been around for quite some time and can be our growth drivers.
Why is customization needed?
- To understand clients and their requirements.
- To have a stronger hold over our competitors.
In short, with customization comes growth – if we understand our clients, their requirements and meet their expectations – we will have a stronger stand in the market that would enable further growth.
- Lot of back n forth involved – at times client might get irritated.
- Be ready to face multiple rounds.
- Most of the times clients don’t know what they want – we have to understand them and educate wherever possible.
- Possibility of losing clients if we fail to meet their requirements.
- Need to be patient and calm at all times.
Benefits of customization
- Have a better knowledge about our service offerings.
- Stronger portfolio.
- Higher chance of converting bigger clients.
- Strong hold over competitors.
Consider 'customization' to be your key to success and enable growth through effective customization.
Wednesday, February 4, 2009
Visionary Companies – Part 1
*****************************
Source: The following article is a collection of my thoughts based on my understanding of the chapters mentioned in the book ‘Built to Last’. I will be writing a series of articles based on visionary companies. Some of the terminologies have been directly picked up from the book. This article specifically deals with the definition of a visionary company.
*****************************
What defines a visionary company (VC)?
Visionary companies are premier institutions in their respective industries having a long track record of making a huge impact to the world. These are the companies who have gone through multiple rounds of product life cycles and have produced generations of leaders from within the organization.
VCs believe in the philosophy that a good idea is always a bad idea. They have never waited for any good idea; in fact they have grown by experimenting new methods, made mistakes and then finally created an identity of their own.
Profit-making is the last thing on their agenda. Values, ideologies and a sense of purpose form their core strength and drive their growths. Yet, these companies have a record of generating maximum profits.
They primarily focus on improving themselves rather than beating their competitors. They believe in having Big Hairy Audacious Goals (BHAGs) – according to these companies BHAGs work as their oxygen which eventually enables them to do their best.
VCs believe in the ‘Genius of the AND’ rather than ‘Tyranny of the OR’. For them it is always A and B and not A or B.
This article has focused on the definition of VCs - I will be writing many such articles relating to VCs. It might seem that I have ended this article abruptly but it is not the case. The concept of VC is so vast that it is impossible to include everything in just one article. Watch this space for related articles.
Source: The following article is a collection of my thoughts based on my understanding of the chapters mentioned in the book ‘Built to Last’. I will be writing a series of articles based on visionary companies. Some of the terminologies have been directly picked up from the book. This article specifically deals with the definition of a visionary company.
*****************************
What defines a visionary company (VC)?
Visionary companies are premier institutions in their respective industries having a long track record of making a huge impact to the world. These are the companies who have gone through multiple rounds of product life cycles and have produced generations of leaders from within the organization.
VCs believe in the philosophy that a good idea is always a bad idea. They have never waited for any good idea; in fact they have grown by experimenting new methods, made mistakes and then finally created an identity of their own.
Profit-making is the last thing on their agenda. Values, ideologies and a sense of purpose form their core strength and drive their growths. Yet, these companies have a record of generating maximum profits.
They primarily focus on improving themselves rather than beating their competitors. They believe in having Big Hairy Audacious Goals (BHAGs) – according to these companies BHAGs work as their oxygen which eventually enables them to do their best.
VCs believe in the ‘Genius of the AND’ rather than ‘Tyranny of the OR’. For them it is always A and B and not A or B.
This article has focused on the definition of VCs - I will be writing many such articles relating to VCs. It might seem that I have ended this article abruptly but it is not the case. The concept of VC is so vast that it is impossible to include everything in just one article. Watch this space for related articles.
Tuesday, January 20, 2009
Service-Profit chain
*****************************
Source: In the following article I have jotted down my thoughts based on my understanding of the article - Putting the Service-Profit Chain. I OWN the article written below.
*****************************
I read an article called ‘Putting the Service-Profit Chain to Work’ by James L. Heskett, Thomas O. Jones, Gary W. Loveman, W. Earl Sasser, Jr., and Leonard A. Schlesinger. This article talks about how employee loyalty can drive company’s growth and profitability.
A month ago I had given a similar feedback to the manager of Hotel Kodai International. I was aware of the fact that if a company keeps its employees happy then they are bound to get satisfied customers; however, I was not aware that this theory was called as Service-Profit chain.
How does the service-profit chain work?
In this article, the authors have mentioned that if a company works on its internal service quality (listening to employees, providing an excellent work-environment, training, etc) then it would lead to 100% employee satisfaction. Employee satisfaction would in turn fuel employee loyalty which would raise their productivity. Higher productivity would bring in greater value to the external service that is being provided by the company. Excellent service boosts satisfaction and loyalty amongst clients. High loyalty drives growth and profitability.
A company is a link between its employees and clients. Employees are the ones who are responsible for driving the growth. As discussed above, growth and profitability will come only if the client considers the service or product to be a value for money. It is extremely essential to keep the employees satisfied and engaged. Employees should feel “proud” to be a part of a particular organization not because of the pay package they are getting but because of the values and environment given to them by the company.
Employers can introduce some of the following techniques in order to keep their employees happy:
1) Job rotation – this can be on a project basis where employees would get exposure to other departments within the organization. Examples:
· Delivery team associates could work for a shorter duration with CRM – this will give them exposure to client feedback and will be able to use it effectively in their core work.
· Client servicing associates can work with the marketing team – this will give them an exposure to the market needs and accordingly work harder in converting the client and meeting their needs. They will also be able to understand pressures faced by marketing team.
· Marketing team associates can work with client servicing.
· HR associate can work with CRM – this will help the person in understanding client needs and accordingly keep those in mind while looking for the required candidate(s).
2) Conduct employee satisfaction surveys regularly – HR can select the most critical factors affecting satisfaction and accordingly take the desired steps.
3) Having one-on-ones with low performers – we get to hear about top performers becoming low performers. These people either quit or get fired. It is extremely essential to know why a person is performing low on quality and productivity. A little bit of concern can do wonders.
4) If an employee’s quality scores are dipping – then we need to understand why this is happening. If it is a case of skill issue then you either ask him to improve or leave; if other factors then take necessary steps to help him improve his quality.
5) Recognition - start mentioning the names (along with photos) of employees who have high productivity scores – either on company newsletters or websites. In case of service industry, the risk is that clients might ask for the same person to work on their files but the advantage would be that others in the company would strive to work hard to earn this recognition. If you implement this it would have more value than any other gift vouchers.
So the bottom line is that if companies keep their employees happy, they can safely expect higher growth and profitability.
Source: In the following article I have jotted down my thoughts based on my understanding of the article - Putting the Service-Profit Chain. I OWN the article written below.
*****************************
I read an article called ‘Putting the Service-Profit Chain to Work’ by James L. Heskett, Thomas O. Jones, Gary W. Loveman, W. Earl Sasser, Jr., and Leonard A. Schlesinger. This article talks about how employee loyalty can drive company’s growth and profitability.
A month ago I had given a similar feedback to the manager of Hotel Kodai International. I was aware of the fact that if a company keeps its employees happy then they are bound to get satisfied customers; however, I was not aware that this theory was called as Service-Profit chain.
How does the service-profit chain work?
In this article, the authors have mentioned that if a company works on its internal service quality (listening to employees, providing an excellent work-environment, training, etc) then it would lead to 100% employee satisfaction. Employee satisfaction would in turn fuel employee loyalty which would raise their productivity. Higher productivity would bring in greater value to the external service that is being provided by the company. Excellent service boosts satisfaction and loyalty amongst clients. High loyalty drives growth and profitability.
A company is a link between its employees and clients. Employees are the ones who are responsible for driving the growth. As discussed above, growth and profitability will come only if the client considers the service or product to be a value for money. It is extremely essential to keep the employees satisfied and engaged. Employees should feel “proud” to be a part of a particular organization not because of the pay package they are getting but because of the values and environment given to them by the company.
Employers can introduce some of the following techniques in order to keep their employees happy:
1) Job rotation – this can be on a project basis where employees would get exposure to other departments within the organization. Examples:
· Delivery team associates could work for a shorter duration with CRM – this will give them exposure to client feedback and will be able to use it effectively in their core work.
· Client servicing associates can work with the marketing team – this will give them an exposure to the market needs and accordingly work harder in converting the client and meeting their needs. They will also be able to understand pressures faced by marketing team.
· Marketing team associates can work with client servicing.
· HR associate can work with CRM – this will help the person in understanding client needs and accordingly keep those in mind while looking for the required candidate(s).
2) Conduct employee satisfaction surveys regularly – HR can select the most critical factors affecting satisfaction and accordingly take the desired steps.
3) Having one-on-ones with low performers – we get to hear about top performers becoming low performers. These people either quit or get fired. It is extremely essential to know why a person is performing low on quality and productivity. A little bit of concern can do wonders.
4) If an employee’s quality scores are dipping – then we need to understand why this is happening. If it is a case of skill issue then you either ask him to improve or leave; if other factors then take necessary steps to help him improve his quality.
5) Recognition - start mentioning the names (along with photos) of employees who have high productivity scores – either on company newsletters or websites. In case of service industry, the risk is that clients might ask for the same person to work on their files but the advantage would be that others in the company would strive to work hard to earn this recognition. If you implement this it would have more value than any other gift vouchers.
So the bottom line is that if companies keep their employees happy, they can safely expect higher growth and profitability.
Perception and Priorities
*****************************
Source: The following is an e-mail forward and I am not the ORIGINAL writer of this post.
*****************************
A man sat at a metro station in Washington DC and started to play the violin; it was a cold January morning. He played six Bach pieces for about 45 minutes. During that time, since it was rush hour, it was calculated that thousand of people went through the station, most of them on their way to work.
Three minutes went by and a middle aged man noticed there was musician playing. He slowed his pace, stopped for a few seconds and then hurried up to meet his schedule.A minute later, the violinist received his first dollar tip: a woman threw the money in the till and without stopping continued to walk.
A few minutes later, someone leaned against the wall to listen to him, but the man looked at his watch and started to walk again. Clearly he was late for work. The one who paid the most attention was a 3 year old boy. His mother tagged him along, hurried but the kid stopped to look at the violinist. Finally the mother pushed hard and the child continued to walk turning his head all the time. This action was repeated by several other children. All the parents, without exception, forced them to move on.In the 45 minutes the musician played, only 6 people stopped and stayed for a while. About 20 gave him money but continued to walk their normal pace. He collected $32.
When he finished playing and silence took over, no one noticed it. No one applauded, nor was there any recognition. No one knew this but the violinist was Joshua Bell, one of the best musicians in the world. He played one of the most intricate pieces ever written ; with a violin worth 3.5 million dollars.
Two days before his playing in the subway, Joshua Bell sold out at a theatre in Boston and the average ticket was $100.This is a real story. Joshua Bell playing incognito in the metro station was organized by the Washington Post as part of a social experiment about perception, taste and priorities of people.
The outlines were: in a commonplace environment at an inappropriate hour: Do we perceive beauty? Do we stop to appreciate it? Do we recognize the talent in an unexpected context?One of the possible inferences from this experience could be:If we do not have a moment to stop and listen to one of the best musicians in the world playing the best music ever written, how many other things are we missing?
Source: The following is an e-mail forward and I am not the ORIGINAL writer of this post.
*****************************
A man sat at a metro station in Washington DC and started to play the violin; it was a cold January morning. He played six Bach pieces for about 45 minutes. During that time, since it was rush hour, it was calculated that thousand of people went through the station, most of them on their way to work.
Three minutes went by and a middle aged man noticed there was musician playing. He slowed his pace, stopped for a few seconds and then hurried up to meet his schedule.A minute later, the violinist received his first dollar tip: a woman threw the money in the till and without stopping continued to walk.
A few minutes later, someone leaned against the wall to listen to him, but the man looked at his watch and started to walk again. Clearly he was late for work. The one who paid the most attention was a 3 year old boy. His mother tagged him along, hurried but the kid stopped to look at the violinist. Finally the mother pushed hard and the child continued to walk turning his head all the time. This action was repeated by several other children. All the parents, without exception, forced them to move on.In the 45 minutes the musician played, only 6 people stopped and stayed for a while. About 20 gave him money but continued to walk their normal pace. He collected $32.
When he finished playing and silence took over, no one noticed it. No one applauded, nor was there any recognition. No one knew this but the violinist was Joshua Bell, one of the best musicians in the world. He played one of the most intricate pieces ever written ; with a violin worth 3.5 million dollars.
Two days before his playing in the subway, Joshua Bell sold out at a theatre in Boston and the average ticket was $100.This is a real story. Joshua Bell playing incognito in the metro station was organized by the Washington Post as part of a social experiment about perception, taste and priorities of people.
The outlines were: in a commonplace environment at an inappropriate hour: Do we perceive beauty? Do we stop to appreciate it? Do we recognize the talent in an unexpected context?One of the possible inferences from this experience could be:If we do not have a moment to stop and listen to one of the best musicians in the world playing the best music ever written, how many other things are we missing?
Monday, January 19, 2009
Starbucks Experience
*****************************
Source: The following article is a collection of my thoughts based on my understanding of the book - The Starbucks Experience. I OWN the article written below.
*****************************
I came across a book in my personal library yesterday – it was called ‘The Starbucks Experience’. The first few pages were so interesting that I got down making notes for myself.
The book talks about how Starbucks turned an ordinary business into an extraordinary organization – that is loved not only by its customers worldwide but also its employees.
What defines a great company?
A great organization would be a combination of a great vision along with a plan that is implemented to perfection. Starbucks is one such organization that not only dared to create a vision but also implemented it to perfection.
Let us take a look at how Starbucks managed to create such a great organization.
Values and Culture
Starbucks has a unique culture in which the senior management believes in sharing not only their resources but also their wealth. Their employees are called as ‘partners’. They believe in giving their employees, quality and customer focused training, work-friendly environment which would enable them to keep their customers happy.
The best thing about them is that they have been maintaining consistency across all their outlets worldwide.
1) Leaders have created a unique culture for their partners in which Empowerment, Entrepreneurship, Quality and Service form their core values.
2) Partners in turn believe in creating a unique and personal experience for every customer.
Leadership
1) Starbucks leadership believes that the right way of doing business is to turn your employees in to partners. In fact their CEO distributed stock options not only to the senior management but to all the employees who spent more than 20 hours every week. Through this sharing, their partners appreciated the direct link between their efforts and the success of their company.
2) Starbucks has created their own Mission Review committee that is responsible for checking whether their leaders are living their vision and mission and also passing it down to their partners.
3) Starbucks believes in having an aligned mindset between the senior leadership and its partners.
4) It is only when the leaders live the values will the partners imbibe it.
5) Leaders believe in staying small while growing.
6) They face constant challenges in attracting quality and like-minded workforce.
7) They have a separate department called ‘Culture and Leadership development.
8) Senior leadership says – ‘It does not matter how many millions/billions of cups we serve if it doesn’t suit our clients need.
Values, mission and excellent customer and employee focus has been the driving force behind their ultimate success.
Starbucks partners
1) Partners feel ‘proud’ to be a part of this organization because they have the liberty to make things right.
2) The above point is a result of constant training and grooming.
3) Partners believe in creating an emotional bond with every customer.
4) They give importance to every customer by customizing their needs, making them feel important. It is only this trait that has resulted into higher loyalty amongst their customers.
5) Their packing is so great that they aim for 0 spill rate.
6) They believe in making a difference in the lives of their customers – this has been passed down through their leaders. This is what they call as ‘The Starbucks Experience’.
Other important facts
1) Starbucks has been maintaining the same quality consistently for years across all their outlets worldwide.
2) They spend more money on quality and customer focused training than on advertisement.
3) Apart from sharing financial benefits with its partners they provide the following as well – training in product knowledge, guiding principles for success, personal empowerment and the importance of creating a warm customer experiences. These things have resulted in to higher customer satisfaction and loyalty.
4) Employee turnover rate is 120% less than the industry average.
5) Partners have an 82% satisfaction rate.
6) One of their loyal customers not only knows where all the outlets are situated but also gives her family and friends directions to those outlets.
Apart from a great vision, core values and a strong work force they believe in 5 principles that act as their oxygen for surviving:
Make it your own
Everything matters
Surprise and delight
Embrace resistance
Leave your mark
Most of the companies may or may not be able to follow suit but we can definitely extract some of the important aspects and use it in our day-to-day work life. We could start off with the following:
1) Create a vision and share
2) Create an environment such that every employee feels proud to be a part of the organization. This can happen through client focused training, giving them the desired things, empowerment (basically a feeling of ownership).
3) In short, we need to create a Service-Profit sharing chain that will lead to employee satisfaction and loyalty, which in turn would lead to customer satisfaction and loyalty and drive our growth and profitability.
Source: The following article is a collection of my thoughts based on my understanding of the book - The Starbucks Experience. I OWN the article written below.
*****************************
I came across a book in my personal library yesterday – it was called ‘The Starbucks Experience’. The first few pages were so interesting that I got down making notes for myself.
The book talks about how Starbucks turned an ordinary business into an extraordinary organization – that is loved not only by its customers worldwide but also its employees.
What defines a great company?
A great organization would be a combination of a great vision along with a plan that is implemented to perfection. Starbucks is one such organization that not only dared to create a vision but also implemented it to perfection.
Let us take a look at how Starbucks managed to create such a great organization.
Values and Culture
Starbucks has a unique culture in which the senior management believes in sharing not only their resources but also their wealth. Their employees are called as ‘partners’. They believe in giving their employees, quality and customer focused training, work-friendly environment which would enable them to keep their customers happy.
The best thing about them is that they have been maintaining consistency across all their outlets worldwide.
1) Leaders have created a unique culture for their partners in which Empowerment, Entrepreneurship, Quality and Service form their core values.
2) Partners in turn believe in creating a unique and personal experience for every customer.
Leadership
1) Starbucks leadership believes that the right way of doing business is to turn your employees in to partners. In fact their CEO distributed stock options not only to the senior management but to all the employees who spent more than 20 hours every week. Through this sharing, their partners appreciated the direct link between their efforts and the success of their company.
2) Starbucks has created their own Mission Review committee that is responsible for checking whether their leaders are living their vision and mission and also passing it down to their partners.
3) Starbucks believes in having an aligned mindset between the senior leadership and its partners.
4) It is only when the leaders live the values will the partners imbibe it.
5) Leaders believe in staying small while growing.
6) They face constant challenges in attracting quality and like-minded workforce.
7) They have a separate department called ‘Culture and Leadership development.
8) Senior leadership says – ‘It does not matter how many millions/billions of cups we serve if it doesn’t suit our clients need.
Values, mission and excellent customer and employee focus has been the driving force behind their ultimate success.
Starbucks partners
1) Partners feel ‘proud’ to be a part of this organization because they have the liberty to make things right.
2) The above point is a result of constant training and grooming.
3) Partners believe in creating an emotional bond with every customer.
4) They give importance to every customer by customizing their needs, making them feel important. It is only this trait that has resulted into higher loyalty amongst their customers.
5) Their packing is so great that they aim for 0 spill rate.
6) They believe in making a difference in the lives of their customers – this has been passed down through their leaders. This is what they call as ‘The Starbucks Experience’.
Other important facts
1) Starbucks has been maintaining the same quality consistently for years across all their outlets worldwide.
2) They spend more money on quality and customer focused training than on advertisement.
3) Apart from sharing financial benefits with its partners they provide the following as well – training in product knowledge, guiding principles for success, personal empowerment and the importance of creating a warm customer experiences. These things have resulted in to higher customer satisfaction and loyalty.
4) Employee turnover rate is 120% less than the industry average.
5) Partners have an 82% satisfaction rate.
6) One of their loyal customers not only knows where all the outlets are situated but also gives her family and friends directions to those outlets.
Apart from a great vision, core values and a strong work force they believe in 5 principles that act as their oxygen for surviving:
Make it your own
Everything matters
Surprise and delight
Embrace resistance
Leave your mark
Most of the companies may or may not be able to follow suit but we can definitely extract some of the important aspects and use it in our day-to-day work life. We could start off with the following:
1) Create a vision and share
2) Create an environment such that every employee feels proud to be a part of the organization. This can happen through client focused training, giving them the desired things, empowerment (basically a feeling of ownership).
3) In short, we need to create a Service-Profit sharing chain that will lead to employee satisfaction and loyalty, which in turn would lead to customer satisfaction and loyalty and drive our growth and profitability.
Subscribe to:
Posts (Atom)
Posts
