the excitements,enjoyments is finally ended. As no one expected this year trophy went to N.Srinivasan owned chennai superkings . though there are lot of controversies still going both on and off the field, a lot of decent management ethics,techniques have been displayed both on and off the field.
1.EXECUTION OF STRATEGIES
every team has as a strategy planned out. they select the prospective players in the auction . also they are selecting the best 11 before any match. every team has to go to this path which is tough wen comes to selection issues out of a alarge number of player base.finally they select and play and succeed.
Management is all about taking right decisions and selecting right players. wen interviewed to cricketers which i saw( MURALI KARTIK OF KKR & SURESH RAINA of CSK)they said that they will look at players and execute their straregies. miurali kartik know how and were to bowl to a specific player so as raina were to hit the ball and so on. management is all about these things. executing strategies at the right time& at right place.
2.LEADERSHIP & TEAMWORK
wenn shane warne led RR to victory in a match against DC, it was completly a pure leadership display. he was constantly chatting with his bowlers,fielders encouraging them and so on.
similarly a leader has to display all those necessary stuff to get his team to victory
3. EQUALITIES
have u ever seen the great australian allrounder symonds playing with an unknown indian thirumalasetty suman of DC? wen they both led their team to victory against CSK. it was aa complete display of sportmanship. there was no inequalities,no country bias, no regionality bias et al. an experienced guy working with a new comer in cricket telling tactics,advising him and so on.
Management is all about these stuff. success will only knock if these things happen in organization. there should not be any status based stuff. there should be mutual understandings
4.DROPPING UR KEY PLAYERS
wen MI rested key players against KKR ( sachin,malinga,pollard) and an inexperienced bravo(in captaincy role) were asked to lead the team ,MI lost the match. they rested key players to prepare for the semi finals and not to sustain any injuries
In Management, we should not rest any key players. there should not be any permutation& combination stuff. an inexperienced should not be asked to lead the team.
overall IPL is a good entertainment for cricket lovers. there were lot of glamours,tensions et al. its a good learning experience for both the foreign and the local players.
5.TIME MAMAGEMENT
An important aspect in management. organizations should make the best out of their time. they must accomplish their objectives and targets within a specified time period. IPL committee was strict about timings. if a team doesnt finish their playing within the specified timings, they are punished by imposing huge bucks of money.
6.EMPLOYING ALTERNATIVES
Organizations typically employ the best alternatives to succeed. harbhajan singh opening the bowling for MI,kumble doing it for RCB, are some of the alternatives which captains did in this year's IPL. and they succeeded.wen DC were chasing a mammoth total,sachin tendulkar entrusted harbhajan to open the bowling . and to everyones surprise the DC captain was out for duck in the second ball .
There are lots of things which can be taken forward in IPL.it is an unique game.it has crated a brand equity of itself.lot more things to be gathered in the coming years.
Excerpts from the HBR dated feb-2010.
Recent study by mckinsey stated only half of all the joint ventures succeed. that is they get the returns above the cost of capital. an alliance usually starts with service level agreements(SLA'S). they focus on the contributions only & not what each side gets.
now comes the balanced scorecard(BSC) mngmt system which focuses from contributions,operations and to strategy management. now i will give u a typical example of SOLVAY PHARMACEUTICALS which adopted BSC tool to manage their alliance and reduced the total cycle time by 40%.
Solvay is a top pharmaceutyical company . it has to incur over $1billion to successfully bring its products into market. their usual process is to give clinical trials to patients,health care organnizations and physicians. they have less advantage in these areas. so they thought they would outsource the managemnet of all clinical trial to a single partner. they chose QUINTILES(an existing supplier) to perform all stages of its clinical procrsses. it has a good history in developing and marketing pharma products. they had a preferred relationship. solvay outsourced in return for reductions in quintiles normal prices. the 2 companies formed a ajoint clinical team. a joint development made milestones,good progresses.
the initial 5 yr contract went well. it had to renew its contract in 2006 . quintiles faced some problems because many work form solvay were outsourced. senior executives of two compnaies had to commit to alliance strategy and had to negotiate.
they knew from the previous studies about the likely shortfalls in alliance outcomes & identified the following problems it had to overcome.
THE COLLABORATION THEME SCORECARD
1.PROCESS OBJECTIVE
2.JOINT WINS
3.METRICS
4.INITIATIVES
in a nutshell, these would include
1.focussing on the contractual terms of the alliance
2. spending more time and efforts selling the alliance internally
3.concentrtaing more on alliance .
both had a BSC internally. they though it wud address all those issues. they though of preparing BSC together to have consensus on and alignment with the goals of the alliance.
BSC(an overview)
The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.
following BSC practice, they appointed a consultant to sort out few things . they came with 5 strategic themes
LIVING THE ALLIANCE(right culture,communication,trust et al)
COLLABORATION( making best use of resources)
SPEED AND PROCESS INNOVATION(leveraging global expertise)
GROWTH(improving investment mngmt and create new products)
VALUE FOR BOTH THE ORGANIZATION
they also drew alliance strategy map which involves
EMPLOYEES & ORGANIZATION (EXECUTING)
BUSINESS PROCESSES(THAT DELIVER)
CUSTOMER VALUE(WHICH DRIVES)
STAKEHOLDER OUTCOMES.
the project team had converstions with the joint streering committees(JSC) from both the companies.. they discussed lot of things which included
1.alliance progress
2.relationship issues et al.
THE PAYOFF
the new approach had yielded impressive results.it reduced thye total cycle time to 40%. it saved time,money et al.it improved service,new revenue oppurtunities,delivering alliance strategy et al.
having started his career in his family-owned business in bata shop in the small towns of uttar pradesh,he now talks of leadership challenges,he meets CEO'S of various companies both local &international companies. he handled companies like coca-cola,GE, growing Marico(parachute brand of oils) & deccan 360(owned by capt.gopinath).he transformen those companies into successful organizations through his sharp skills&insights. he is none other than RAM CHARAN(THE MANAGEMENT GURU)
excerpts from the HBR dated february 2010 issue.
Ram charan typically reacts to the financial turmoil which broke down in 2008 leaving all the companies CEO'S in bizarre confusion. when asked ,he is of the view that all the company needs to have an internal approach to learn how the global financial system is actually working.
HE advocates that all the CEO'S should actually interact with the RBI, who are speciallists in this system . RBI need to educate CEO'S of companies to understand the global financial system. he is of the view that RBI is the one who can understand tyhe complexities of the system,the intricacies and how things could pan out.
the CEO'S should spend time in learning all those systems. he should spent time in it. every indian company has to recruit candiadates globally. they need to develop aa pool of leaders and need to figure out how it can be competitive.
about leadership in management schools
leadership cannot be taught. students need to play active roles in the class room(role play). a business school student after completing has to deal with the people. dealing with others cannot be taught.
''NO ONE REALLY UNDERSTANDS THE INTRICACIES OF THE FINANCIAL SYSTEM,INCLUDING THE CHAIRMAN OF FEDERAL RESERVE"
indian growth will heavily rely on consumers. if india has infrastructure, they will surpass china. US CEO'S are very disciplined. they develop themselves and are very good coaches. they develop good leaders
"OBSOLESCENCE IN A KNOWLEDGE WORKER IS A KILLER"
finally ,he concludes his talk by saying there are potential leaders. they need to be spotted, developed and groomed.
Now its turn for me to shift my focus to personality and values. so far i have been blogging about CEO'S, stock market stuff like that.i would say that personality is a skill which everyone possessess.
Measuring Personality
1.self-report surveys
2.observer-rating surveys
3.projective measures(rorschach inkblot test& thematic apperception test)
self report survey- may produce fake results under "impression management"( hope the reader can understand as it is self-explanated)
observer rating survey-coworker could do the rating
rorschach inkblot test& thematic apperception test- rarely used. individual writes a story about a picture
The Myers-Briggs type indicator-most widely used.100 qustion format. based on the responses people are classified into-
1.extroverts or introverts
2.sensing(practical) versus intuitive( they look at the big picture)
3.thinking(use reason and logic to handle probs) versus feeling( rely on personal values and emotions)
4.judging versus perceiving(spontaneous)
MBTI is widely used in apple computers,GE,AT&T et al
The Big Five Personality Model
extraversion,agreeableness, conscientousness(measure of reliability),emotional stability,openness to experience
16PF( raymond.b. cattell,1940's)
Most LongLived and popular personality questionnaires. published in 40 different languages.
1.warmth
2.reasoning
3.emotional stability
4.dominance
5.liveliness
6.rule-consciousness
7.social boldness
8.sensitivity
9.vigilance.
10.abstractedness
11.privateness
12.apprehension
13.openness to change
14.self reliance
15.perfectionism
16.tension
MAchiavellianism( niccolo machiavelli)
"if it works,use it". high macs manipulate more,win more, are persuaded less .
Type A-
struggle to achieve more and more in less time.they move rapidly,impatient,cannot cope with leisure time.fast workers
Type B-just the opposite of type A
whenever we think of stock market, we think of getting large chunks of money. usually, trading of shares are done in bulk in the stock market. there are experienced guys who better know wen to buy,wen to hold,wen to sell. similarly there are little number of people who are ignorant about these stuff. some follow criminal malpractices.
i 'm gonna write something about stock market scams which include the famous insider trading done by mr. rajrathnam a srilankan born billionaire who is the founder of galleon. And also the harsh mehta scam and finally the martha stewart case.
first, the million dollar scam done by galleon promoter in the insider trading.
so wat exactly is insider trading all about?
by definition we go about,Insider trading is the trading of a corporation's stock or other securities (e.g. bonds or stock options) by individuals with potential access to non-public information about the company.
wat exactly did mr.rajrathnam did?
The companies included Hilton Hotels Corp, Google Inc, IBM, Advanced Micro Devices Inc and several other companies. so rajrathnam decided to buy stocks of these companies by using the information from an insider and made a hell a lot of money. he made US$20million
Harsh Mehta
Harshad Mehta was an Indian stockbroker caught in a scandal beginning in 1992. He died of a massive heart attack in 2001, while the legal issues were still being litigated.In April 1992, the Indian stock market crashed, and Harshad Mehta, the person who was all along considered as the architect of the bull run was blamed for the crash. It transpired that he had manipulated the Indian banking systems to siphon off the funds from the banking system, and used the liquidity to build large positions in a select group of stocks. When the scam broke out, he was called upon by the banks and the financial institutions to return the funds, which in turn set into motion a chain reaction, necessitating liquidating and exiting from the positions which he had built in various stocks. The panic reaction ensued, and the stock market reacted and crashed within days.He was arrested on June 5, 1992 for his role in the scam.
Martha stewart
Martha Stewart has been in the news for several months because the U.S. Securities and Exchange Commission believes that Martha Stewart was told by her friend Sam Waksal that his company ImClone’s cancer drug had been rejected by the Food and Drug Administration before this information was made public. This rejection was a huge blow to his company and the price of its stock went down dramatically. However, Martha Stewart wasn’t financially hurt because she had her broker sell her 4000 shares before this news was made public. If this is true, and it should be noted it hasn’t been proven yet, then Martha Stewart is guilty of insider tradin
if u ask a layman abt reverse innovation he will probably say he doesnt know.
if u ask organizations they say they are concentrating &focussing on it. tats what jeffey immelt,vijay govindarajan(chief innovation consultant to General Electric) analysed and came with the view.
so wat exactly is reverse innovation. its simple .marketing ur products in developing markets rather developing it in developed nations. ur prioducts first goes to emerging markets like china,india.and moves to US and other european countries.
so GE'S JEFF.immelt and vijay govindarajan ,the man behind the reverse innovation who is associated with GE belives that this strategy will be successful.
I feel that this concept might lead to cannabilization. it will obviously reduce market share,reduce profits et al because the purchasing power of consumers in the developing markets is very less compared to developed nations.
But still why companies adopt this new strategy?
1.Buyers in poor countries demand solutions on an entirely different price-performance curve. They demand new, high-tech solutions that deliver ultra-low costs and “good enough” quality.
2.Let's look at an example of how American auto manufacturers have not done an effective job at reverse innovation and why we say that the future may well depend on reverse innovation. Companies like Ford brought their global automobile platforms into India, thereby, becoming niche players in the premium segment. After all, only 5% of the Indian population can afford a Rs10 lakh ($20,000) car!
In 2009, Tata Motors launched the Tata Nano — the Rs1 lakh ($2,000) people's car. Multinational companies have to find a 10% solution to capture the full potential in urban India and a 1% solution to capture rural India. That is to say, if a product was to sell for $100 in US, a similar solution is needed for urban India at $10 and for rural India at $1. This is because of the income gap between US and India. The per capita income in India is about $1,000, whereas per capita income in US is about $50,000. That is why one needs the Tata Nano type of solution to unlock new markets in India. The Tata Nano is targeted at the non-consumers of automobiles in India today, namely the two-wheeler population. The two-wheelers are priced at $1,500. By introducing an automobile for $2,000, Tata Motors plans to migrate the two-wheeler population into four-wheeler users. Creating new consumption requires new business models.
Tata Motors plans to introduce Tata Nano not only in other emerging markets such as Africa but also plans to bring the car into Europe and the US eventually. The biggest threat to American automobile will come from emerging market competitors like Tata.
excerpts from the economic times dated 4/16/2010
as i blogged, before, the world 's best CEO'S, i am very proud to continue blogging about CEO'S but this time it is india's best CEO'S.
they dont have any gender bias,no community bias,no caste bias, but still they run the organisations better. whatever be the externalities like the recession,depression and other stuff,CEO'S should remain cool and composed and shud focus on their work.
in thus blog, i post u the best CEO'S @ present in india.
1. ratan tata- the man behind the much-talked tata industries and recently launched tata nano. he is rated the best CEO by ET
2.mukesh ambani-the richest man in asia who heads RIL
3.n.r. narayana murthy of infosys who is a role model for many budding entrepreneurs
4.anil ambani of RCOM
5.the telecom leader- sumil mittal of bharti airtel
6.started as a vegetable oil maker and then turned his company into software . azim premji of wipro
7.kumar mangalam birla of aditya birla group
8.rahul bajaj of bajaj auto
9.he took the entire nation by surprise wen he took opver satyam wen they wen tbankrupt. he is none other anand mahindra
10.beer and spirits,IPL,F1 racing.aviation,soccer. the man who ventures into all these categories. he is vijay mallya
