Quotes
"Life isn't about waiting for the storm to pass. It's about learning how to dance in the rain."- Vivian
Greene (Author)
“Optimism is the faith that leads to achievement. Nothing can be done without hope and
confidence.” – Helen Keller
Opportunities to find deeper powers within ourselves come when life seems most
challenging. —Joseph Campbell, author
You have power over your mind — not outside events. Realize this, and you will find
strength. —Marcus Aurelius (Philosopher)
Business
What will the world look like when this ends?
- I believe that throughout ages, we have reinvented ourselves. Humankind has always been able to
reinvent, and we are already seeing the global corporate landscape shifting.
What does this mean for us? Trends are: -
Challenge to globalization and venturing into tribalism/nationalism.
Technological Disruption –
People becoming aware of their environment. Create value for all stakeholders, not just
shareholders. Uneven distribution of wealth is not sustainable
Fundamentals of businesses have not changed.
If you make products and services that people want, there is a huge market still.
What actually has changed or will change?
1) Business, as usual, is outdated - Now it will be more so 'Business Unusual'. You as
students need to understand that businesses need to managed more dynamically.
Managing short term dynamically, and being anchored in the long term. Having a clarity
on destination is important, but 'Here & Now' is more important.
Business Forecasting and Long term planning - This is outdated. It will be scenario
planning.
2) Agility - Being agile and nimble is very critical. No matter which business you are
in, you're going to get disrupted. Creating agile organizations makes for ability to act
fast.
3) Every company is tech company - Technology is ubiquitous. Your processes, way
you reach out to consumers, what people watch and buy if fundamentally going to
be impacted by technology. The more you understand what tech can mean for your
business, whether disruption or enabler, you have to embrace it.
4) Constant Learning - In this fast changing-world, this is not about lifelong learnings.
This is about keeping yourself abreast about changing world and awareness that
people around you are also competent. Growing business and growing people
through continuous learning.
Similarly for business, train people so they have the license to operate. Great book
called 'Corporate Athletes' has a concept, Sportsperson spend 85% time training and
15% performing. Corporate leaders spend 90% time performing and 10% time
performing. This is wrong!
5) Increasing recognition that we are not alone - We need humanity. This has
implications for leadership. For any business, people and humanity are the most
important factors. Businesses have to grow but at the same time, they have to be a
part of society's solution to problems. Therefore, make sure that you run business
that are RESPONSIBLE.
Remember that you have to serve the community. Great business and GOOD
business.
Five skills you must learn:
Networking: Especially in areas of passion
Communication: Both verbal and written (Be persuasive, Create a great deck, Write
a logical email)
Problem Solving: Basics, Structuring, Disaggregation, Dealing with uncertainty.
These are not innate but acquired skills
Interpersonal: Organization behavior, Learning to both Lead and Follow
Taking risks: Take whatever subjects that intrigue you, scare you, there's no riskF
Five tips for a better MBA experience:
Reassess your priorities after every semester. Be clear on what you DON'T what to do
Stay away from stress creators, Don't create stress yourself
Focus on learning, not grades
Lead something, be a Follower in something
Q&A
Q) In multiple crisis (Dot com burst, 9/11, 2008 crisis, and now COVID), How as a leader
have you managed situations as that time. What were your learnings.
When a crisis hits the business, the first thing you have to do as a leader is step up to
the plate. Visibility of a leader is important.
Clear messaging in terms of expectations. What people should do and NOT do,
clarity of that is very important.
Managing business continuity -
Never fall into a 'Cash Crisis' (Be liquid). Capital expenditures should not get out of
hand.
Never lose Market share.
Never lose the right people.
Q) MBA education has been valued over the years. Going forward, do you think this trend
will continue?
Education will always be valued. A trend I spoke about for lifelong learning. Spending
a year on inputting rather than outputting HAS to be valued. Believe in 'Make your
own MBA. Have the ability to keep an open mind. Learn from others but also decide
what is important for you.
LPU has some amazing permanent and visiting faculty and it is a great opportunity.
What you DO with that is entirely up to you.
MBA is not about just classrooms. See if you apply concepts in life. Of course, MBA
should make you more analytical, structured, case studies will make you apply
problem solving in real situations. See if you can relate from your work and
internship with things you are learning.
