Job Hoping

Last month, on my flight to Delhi from Baroda came across an ex-senior colleague ( age 50 + ) from my previous organization. As we were in altogether different teams, working for different multi billion projects, didn't had much interaction with each other except for the casual "Hi..Hello" during my tenure of over three years at L&T. My subject colleague was not aware that I have left L&T, and his first reaction on seeing me was to think "What the hell, is this stupid UPS doing in this flight to Delhi ? He is not working on any such project, which brings him to Delhi. "Belated Diwali and New year Greetings exchanged, I told him about my change of job. The next to follow was a long tantrum from him on the "Penetration of Western culture in India, Youths acting irresponsibly and leaving jobs now and then, ill effects of job hoping and other heaps of bullshit" that too with profound conviction, as we made our way through the elevators, waited for over 20 min for luggage to arrive, right till the time self left the airport. I wanted to argue with that person, but as somebody says, never argue with a pig ( because, onlookers can't tell the difference). However, I post here my take ( Not arguements in favour of job hoping), but an explanation particularly to and for the wise intellectuals, twice my age or even older for the current "sordid" state of "affairs" in job arena. Here I begin......

"For an entire generation or two, which came up to their prime of youth in 70s and 80s, even getting the basic necessities of life was not an easy task for many throughout their childhood and youth. In India, which at that time wrestled with droughts, food sufficiency was distant dream, lack of Industrialization, yet to gain "critical mass" mass movement from rural to Urban India, the accompanying poverty etc., the best dream a person could dare to see was to pass graduation, and somehow land up in a Government job. The next best being a job with Tata, Birla or L&T. People who were selected at these organizations felt it their moral responsibility to work and slog for these organizations, and had an emotional touch ( similiar to a family member) attached to these companies. The very thought of leaving these organizations was considered a sin ( namak harami) by a vast majority. "This company gave me a job, when I didn't had any......now how could I leave it ". Past 2000, tables have turned. Post liberalization, its the employees who are choosers, as job market galores, with insufficeint talent pool, the importance ascribed to an qualified and talented individual can never be over emphasized. Still, today's youth slog, not for an attachment or sense of moral responsibility, but for their rage of performance, the desire to progress, and their result oriented approach. Yet, the moment they find, there is some other company, which encapsulates their aspirations better, they shed off their "comfort zone" and reach out to live and fulfill their career dreams "

I know, I have failed to put up an explanation good enough to break any ice regarding my difference of opinions with 50+ age colleagues, but hey, .Isn't this, what they call "Generation Gap ?"And to that senior ex-colleague of mine - It was L&T, the first company to come for campus at my college, and select only UPS out of 185 mech. students, well over one year in advance... At 50+, you need to "grow up".

Unreasonable Reasoning

Read an article in yesterday's TOI editorial in support of reservations for ST / SC, "supported" by pathetic unreasonable reasoning by Mr. Uke, Member, Ambedkar Trust (or Mission..?). Self do not prefer to get into lengths challenging that, as I do not feel the need to remphasize the loads full of stupidity in the lame "reasoning" of pro- reservation lobby, which favours reservation on basis of caste. Just want to state to Mr. Uke and the editorial team at TOI, that democracy was never meant for establishing equality of conditions. It just tries to guarantee equality of opportunities.

I would also take this opportunity to state one more fact, especially to our Leftists friends who constantly keep on complaining about the growing inequality in the country since decades. The Communist heaven of China has a Gini coefficient of 41. XX compared to India's 33.XX. (Gini coefficient is a measure of the income inequality for the subject nation / state. A higher coefficient means higher inequality). Do I need to write any more.

Foresight

I enjoy reading forwarded mails, but do not forward forwards. However, can't resist the temptation for sharing this one. This quotes reflect the foresight of so-called logically inclined intellectuals at a point of time.

"There is no reason anyone would want a computer in their home."- Ken Olson, president, chairman and founder of Digital Equipment Corporation, 1977

"I think there is a world market for maybe five computers."- Thomas Watson (1874-1956), Chairman of IBM, in 1943

"The concept is interesting and well-formed, but in order to earn better than a ‘C’, the idea must be feasible."- A Yale University management professor, in response to student Fred Smith’s paper proposing reliable overnight delivery service (Smith went on to found Federal Express)

"640K ought to be enough for anybody."- Bill Gates (1955-), in 1981

"We don’t like their sound, and guitar music is on the way out."- Decca Recording Company, rejecting the Beatles, in 1962

"Who the hell wants to hear actors talk?"- Harry Morris Warner (1881-1958), co-founder of Warner Brothers, in 1927

Current Account Deficit

Yesterday, I rather unsuccessfully tried to explain the significance and meaning of Current Account Deficit to a wannabe MBA. Took quite a lot time, to make things clear about Current Account Deficit and Capital Account.

So, here I present a simpler version, the very basics of Current Account Deficit for non-eco. background people like me.

C.A.D. simplified -

For importing things / goods, you need to pay in foreign currency ( say dollars). You get this dollars by the things which you have exported. In case there is a shortfall, you need to take a debt from out of the country in dollars.( that is you have to take a external debt). Also you can use some portion of your forex reserves. The condition in which there is such a shortfall is called Current Account Deficiet.

Some economists believe that a current account surplus is not good, as the surplus dollars will have to be invested in low yielding US bonds / treasury. A little CAD is good, as it would be possible to borrow money at low interest rate and use it in high yielding investments in a booming economy such as us. However, a high CAD would lead depreciation in currency, and overall outlook on the economy will become weak.

India’s CAD howers around currently 2-3 % of GDP since last three years.

Distinction Between Merger and Acquisition

Although they are often uttered in the same breath and used as though they were synonymous, the terms merger and acquisition mean slightly different things. When one company takes over another and clearly established itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer "swallows" the business and the buyer's stock continues to be traded. In the pure sense of the term, a merger happens when two firms, often of about the same size, agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a "merger of equals." Both companies' stocks are surrendered and new company stock is issued in its place. For example, both Daimler-Benz and Chrysler ceased to exist when the two firms merged, and a new company, DaimlerChrysler, was created. Mittal Steel's bid for Arcelor though was an acquisition in intent, the detailed workout made it look an merger of equals. In practice, however, actual mergers of equals don't happen very often. Usually, one company will buy another and, as part of the deal's terms, simply allow the acquired firm to proclaim that the action is a merger of equals, even if it's technically an acquisition. Being bought out often carries negative connotations, therefore, by describing the deal as a merger, deal makers and top managers try to make the takeover more palatable. A purchase deal will also be called a merger when both CEOs agree that joining together is in the best interest of both of their companies. But when the deal is unfriendly - that is, when the target company does not want to be purchased - it is always regarded as an acquisition. Whether a purchase is considered a merger or an acquisition really depends on whether the purchase is friendly or hostile and how it is announced. In other words, the real difference lies in how the purchase is communicated to and received by the target company's board of directors, employees and shareholders.

With Extracts from George Carell's paper. And yaa, a post on Leveraged Buyout (LBO) and Management Buyout (MBO) soon...

Voyage

One of my latest poems, which I somehow completed and have managed to save it with self.

VOYAGE

Out here in the wilderness I roam,
Miles away from that cushy home,
No stream of cool water pass by
Lies above the bold blue sky.

Memories of convivial do regain,
Stirs up in thy heart a sweet pain,
About the one whom heaven bestow
With Me in the Moments of love,

When the little birds did chirp,
On shady trees with green leaves,
The sea had never such a shove,
The church bell rang on the fore.

The silent winds were fragrant then,
The soil was wet with the drops of rain,
The rainbow which glamoured in the west,
Me, an uncrowned emperor in conquest.

When you parted ways with me,
Those tears would have filled the sea,
Devoid of soul, my days began,
Without thee, I was a hollow man.

The chilly winds are now blowing by,
As I stand here on bizarre mountain high,
The sun is setting, it is twilight,
And the death knoll rungs nearby.

I see now, that mysterious hand,
Which parted globe in blue and sand,
My voyage will now soon began,
To perish in His eternal reign.

10 Business Trends

I give here a list of 10 happenings/ trends during 2006 in Indian Business arena, which are different from previous years ( for better or worse) and 10 happenings which were the same, trends which in my view had a significant impact on the economy.

Economic policies and path correction by RBI has not been listed, as its impact has yet not been felt. I also exclude the Outbound deals in Steel sector as the same took place outside the territorial waters of India.

So, here is UPS’ list of things, which appeared afresh on the businessfield in 2006
1. Abnormal rise in realty sector.
2. Retail Plans unveiled by all biggies.
3. Oil touching 78 $ a barrel, to again stabilize at 55 $.
4. Nuke deal gets through. Defence open for private sector
5. Cement prices shooting through the roof.
6. Sensex scaling record Sustainable Highs.
7. Non-volatility in steel prices for the entire year.
8. The SEZ euphoria starts and continues.
9. VAT implemented. No hiccups yet. What say PC ?
10. Orders for two Ultra Mega Power Projects issued thru competitive bidding

Things which haven’t changed from previous two years.

1. Sluggishness in Reforms, Insurance, mining & labour laws specifically.
2. IPO flurry continues.
3. Failure to meet electricity generation capacity targets.
4. Corruption and procedural delays in Business dealings with Government org.
5. Teledensity continues to grow.
6. Salaries continue to rise.
7. Refining capacity increases. New oil and gas finds.
8. Big Ticket M&As made and felled.
9. Double digit growth rate in Services.
10. Agriculture again laggard. (Food deficit occurs)

Views and counterviews anticipated.

New Year Begins

The first week of the new year was quite terrible for me. Lost my cell, missed a flight, couldn’t get flight booking for an “urgent” meeting to Mumbai, lost two big orders, had a not so pleasant conversation with boss, got my finger crushed in the elevator door, got into ugly spats with a colleague, could not keep my word for a meeting with an friend, my PC got crashed, watched India losing Test Match and series to SA, hurt another friend (not physically…this time atleast), could not keep to my new year resolutions and had to resort to a lot of lies ( thats a professional hazard).

But this week seems to be quite good so far. Finally bagged one order to start the year. Expect another big one anytime. Able to avoid touring and stay in Baroda for 2.5 consecutive days. I have got a new cell, but haven’t passed on its new number to most people, and hence am able to relatively relax (My cell is for my convenience, not for caller’s), patched up again with that friend. Met an old school friend (on whom I had a great crush during school days). And yaa….had a 10 hour sleep yesterday night, followed by “No work” in office today…now thats what you call a “Professional – Personal Life Balance”

Oops..! Forgot the real intent for this post. I was supposed to be writing this about what marks apart a year from another. And it was supposed to be on a serious note. Anyways, maybe some other time. But still, to aptly voice my feelings, I misquote here a small lyric penned by a friend.

“ Years do not begin, and never end,
Except for purposes of calibration;
Gives us a moment to reflect and
Share our joys to have celebration”

Have a fantastic and rocking year ahead….

Suicide Note

Extracts from a suicide note.
This piece of paper hungs at the back of my desk. Just keeps on giving me the courage to say "NO" when unreasonable professional targets are given. Reminds me, that I have options.....and yaa...they are not suicidal.

"If they don't like me, then I would leave,
I am not like them and I cannot pretend ;
I am my own parasite,
I don't need a host to live."

IF

One of my favourite poems by Rudyard Kipling

If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too:
If you can wait and not be tired by waiting,
Or, being lied about, don't deal in lies,
Or being hated don't give way to hating,
And yet don't look too good, nor talk too wise;
If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim,
If you can meet with Triumph and Disaster
And treat those two impostors just the same:.
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build'em up with worn-out tools;
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings,
And never breathe a word about your loss:
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!"
If you can talk with crowds and keep your virtue,
Or walk with Kings - nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much:
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son!


Too much qualifications and characteristics to qualify as a Man...I think I should, rather abandon the idea.

Corporate Social Responsibility

Why do organizations do business ? The only two motives for any private organization do undertake business activity are - I: to make money today. II : To make more money tomorrow. All actions, decisions for a business unit are / have to be directed keeping these two motives in the central frame. This has been so far, the unsaid, yet widely acknowledged fact in the business world. From erstwhile “tradesman” to Carnegie and Mittal, generations have been doing the activity of business based on the “selfish” motive of wealth generation. Means for disbursement of this wealth has had contradictory policies in capitalist and socialist economies, however will pursue that topic sometime later.

But, currently, thanks to a bunch of corporate jokers and mediapersons, a CSR (Corporate Social Responsibility) dimension to business is attached. Almost all organizations in India and abroad do indulge in such CSR initiatives. Such acts of charity by organizations is being taken by one and all in a positive spirit, and hordes of CEOs and MDs, donning the Who’s who list have been talking about “their” CSR activities with pride. Too much an emphasis is nowadays being laid on the CSR aspect of an company, with many organizations including my earlier and current companies, specifically recruiting “experts” for the same. From Sankaralingam to Ratan Tata, Narayanmoorthy to Roongta, from A.M.Naik to Ambanis and even Mallya, all have openly stated their CSR intiatives as a part of “their” duty to pay back to the society.

Should Organizations resort to CSR ? My take : NO, Absolutely NOT.
Most of the intellectuals would dismiss my take as idiotic or foolish, but as I have been many a times accused of both, I do not mind of stating my conviction once again to earn that pedigree.

The duty of an organization towards the society, is to make available goods and services, in which it has expertise in the best form in terms of price and quality to the society. It is during the pursuance of this selfish motive of earning profit by providing goods and services, that an organization fulfills its duty towards the society. It is also through the taxes it pays the government, which is responsible for social and economic upliftment of the society. It need not indulge in direct upliftment of society through philanthropic projects. It would be an unjustice to the stakeholders (shareholders included) to have their resources divested in areas not yielding profits. Instead, that money should be invested for furthering business prospects.

There has been a growing parade of top-notch billionaires in US, who undertake CSR intiatives by “their” own share of money, and hence the impact of such activities does not reflect in their organization books. Warren Buffet, Rockfeller, Gates being the prominent examples of such philanthropic pursuits.

Of late, some marketing gurus, have linked CSR to brand image of a company. Being a novice on the subject yet, I feel too little to question them, but utterly fail to understand any logical equation between CSR and a company’s brand image. Examples are in plenty, but I prefer not to get into that. The point is, even if there is any indirect benefit to an organization through its CSR programmes in terms of brand image building, then its just a form of marketing expenditure by an organization, and no philanthropic trait should be attached to such programmes either by the organization or the media. Such activites should be redefined and be classified as “business as usual” by all concerned.

I wish : Let Business be business, and charity be charity. Multiple hats do not yield optimal value addition. Let there be an utmost clarity of roles between corporate and government, and the tact of fruitful implementation on part of both, to deliver the best to the society.

But alas !...if wishes were horses, men would ride.

About Self

Post deleted....as I have changed

Pahela Post

I do belong to that genre of people, who prefer to read rather than write, listen rather than speak, basketsfull of extempore prizes notwithstanding. Yet I have opted to change for a while and try out my writing skills. No, I do not write for myself. If such be the case, self would have preferred my diary. But I write here to pour my feelings ( read frustation) out, an account of the constant surges of thoughts which strangle my chaotic mind, to get your praises ( mandatory) and abuses ( voluntary). To have a small space of my own to express my views uncensored, uncut, unrestrained before the world. I am quite apt at giving feedback and counselling ( chargeable basis) to friends and foes alike and expressing my views, but having something ? on the net to be shared with known and unknown "strangers" would be novel and interesting in itself. Here I start....