VOL. XXXXVI NO.3
SEPTEMBER 2020
CONTENTS The New Normal in Governance Arun Maira
Governance: The German Perspective Post‐Pandemic World and India
Managing in Difficult Times
S Gurumurthy
V Anand
Marching Ahead: The Next Frontier
Peter Rimmele
Women Leader Series: Gayathri Suresh
Post‐Retirement Life YVL Pandit
Leadership Lessons from Working in a Partnership Satyanarayan Ramamurthy I'm Not Creative R Sridhar
12 Key Management Areas to Focus on G D Sharma
EDITOR Gp Capt R Vijayakumar (Retd), VSM EDITORIAL SUPPORT Gp Capt Dr R Venkataraman (Retd) LAYOUT EXECUTIVE D Rajaram
MADRAS MANAGEMENT ASSOCIATION Management Center, New No.240 Pathari Road ﴾Off Anna Salai﴿, Chennai 600 006 Ph:044‐2829 1133 Email:mma@mmachennai.org | mandate@mmachennai.org www.facebook.com/mmachennai
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EDITORIAL
Gp Capt R Vijayakumar (Retd), VSM
Fighting back, one step at a time...
O
n August 22, Chennai celebrated “Madras Day.”
sentiment. IPL has the potential to capitalize consumer
Still, it is not too late in wishing all citizens of
sentiments and drive consumption. Multiple businesses are
Namma Chennai on Madras’ 373rd founding day!
eyeing a turnaround on the back of the Twenty 20 Cricket
We, at the Madras Management Association, are proud being
tournament, which is set to begin on 19th September in UAE.
part of this glorious city’s history and heritage. I am sure that
Brands are piggybacking on advertising, hoping to kickstart
the day is not far when Namma Chennai will spring back
consumer spending and consumption cycle.
—united in the famed “Chennai Spirit”—and trounce the pandemic! The festival season & IPL
There is also a big opportunity for companies to invest in areas they wish they could have paid more attention to before the crisis. There is also an opportunity for sectors to emerge
The festival season is here, and we are still in the midst of the crisis. This is definitely not something any one of us could have imagined at the beginning of the year. In any case, festivals are occasions to be thankful, so let’s spread the joy of giving and sharing with loved ones, making the day special for everyone. The crisis may have given rise to uncertainties, but it has also created opportunities for sectors to emerge and grow. It is also the first time IPL season will coincide with the
Indian entrepreneurs are one of the country’s strongest natural endowments. They are the backbone of our country. Now is the time for entrepreneurs to unleash their creativity and nimbleness, because the future of the economy depends on their success.
festival season, and this is expected to further lift consumer
SEPTEMBER
2020
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and grow. Indian entrepreneurs are one of the country’s
services. We have one NGO for every 400 Citizens in India!
strongest natural endowments. They are the backbone of our
Most of them may be poorly run. However, there is little doubt
country. Now is the time for entrepreneurs to unleash their
that the nonprofit sector plays a huge role in the economy. It
creativity and nimbleness, because the future of the economy
needs better regulation, enlightened leadership and greater
depends on their success.
professionalization to deliver health, social and economic
In this issue, we are presenting a number of inspiring articles by outstanding thought leaders on the pandemic and
outcomes. We must focus on making them more responsible, productive and less obstructive.
on how we could take advantage of the crisis and convert it
In this context, MMA organised an online event on 28th
into an opportunity. Please read and enrich yourself. The icing
August on how NGOs and corporates can build sustainable
on the cake is an event by MMA on Cricket with popular
relationship and the role of government for their success.
cricketers on 15th September 2020; you may want to watch it
Great insights were shared by thought leaders from the
live.
government, corporates and NGOs (Click here to watch the recording.)
The digital push The pandemic has also caused a fundamental change in humanhuman interactions, expectations and behaviours. In the new scenario, companies and organisations would necessarily need to review and redesign operational flows and operating models. It has redefined how digital platforms can
The digital magazine of MMA has been curated and brought to you with embedded videos with the stateofthe art digital technology. Do read these interesting, simple yet brilliant articles if you are looking for a different kind of insights during these difficult times.
be used in supporting continuity in businesses / activities
If you have already read our earlier issues I wanted to
through and beyond the crisis. Digital technology has changed
thank you, and request you to leave me a review if you enjoyed
our relationship with one another and with the larger world.
it!
It has changed our relationship with our own selves, the single most important shift brought about by Digital Empowerment! In this context, MMA has adapted to a number of Digital Transformation initiatives, which include enhanced digital communication, MMA App, astateoftheart website with engaging content, intensive social activities of both pre and postevents, a digital library where members could access e books and emagazines, archives of all MMA programs, articles, audio book and MMA digital Business Mandate with embedded videos. One more such initiative is a web portal… please read on and enjoy. On NGOs The number of nonprofit organisations is growing dramatically because of a huge demand for public good and 4
SEPTEMBER
2020
If you haven’t yet read it, do check it out—click here to proceed.
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2020
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W
hen we analyze the
detail that the World Order will change
ideology. China became a preferred
impact of Covid19, we
forever, but he has not said how it will
destination for the US. At that time
need to juxtapose the
change, or if it will change for the better
itself, China objected to the concept of
state of affairs of the world as of now
or worse, or from which Order it will
one nation and two systems and
with that of Spanish flu pandemic era.
change. The present state of affairs
targeted Taiwan, just like it did to Hong
For instance, trade has grown by 65
requires a huge introspection by the US
Kong recently. The US had almost given
times since the Spanish flu. The migrant
and the West—the latter, even now
up on Taiwan. You can see what
population then was 72 million; now it
holds the key. The transatlantic alliance
happens when a top nation betrays its
is 248 million. The world has become
is very critical; it must play a key role in
own partners to seek personal benefits
more integrated now; human beings,
the transition of the world order to a
for itself. Thanks to the intervention of
nations and national policies have got
new order, but the alliance is in serious
the US Congress in 1983, Taiwan
integrated, and so the expected impact
trouble.
became an independent nation. Today,
—good or bad—is bound to be beyond the expected capacity of any nation.
The current world order emerged out of the Cold War, an ideological
In an integrated world, any crisis
conflict between free market capitalistic
becomes contagious; more so, the Covid
and democratic countries on one side
pandemic. It is a global crisis that
and communist and socialist countries
nations are trying to handle. This is the
on the other. The US emerged as the key
time when all nations must come
decisionmaker, and in the process, they
together to redress the situation, but
tried to control Asia but got into
unfortunately, nations are falling apart.
problem in Vietnam. Its economy got affected and the US dollar could not be
Globalization, a flawed concept
protected by its gold. To come out of the
The root cause of many of the global
Vietnam War situation, the US had to
problems
selfcentered
associate with China and for which, the
approach of the US and the West that
peace deal was brokered by Pakistan,
promoted a Marxist economy in a Free
which suddenly became relevant.
was
the
Market—an oxymoron—in the form of globalization. Why did they do that?
China gets a new life
One needs to understand the past errors
The deal helped China immensely,
to think of present solutions. When The
because between 1967 and 70, it had lost
Foreign Policy journal interviewed 12
67 million people to hunger. The urge of
experts, ten of them have said that
China to come out of poverty and that of
globalization as it exists now and that
US to come out of Vietnam War gave
was celebrated for over a quarter
birth to the current world order. This
century, will cease to exist or will
order was made only for the balance of
retreat. Henry Kissinger has written in
power and without principles or
Taiwan is a very important source of technology for the US.
The present state of affairs requires a huge introspection by the US and the West—the latter, even now holds the key.
Soviet collapse & misplaced euphoria After the Soviet collapse, the West in euphoria declared the ‘victory of the West over the Rest and that it is the best for the rest to follow the West.’ In extreme depression and euphoria, one must never take a decision. But what happened? They constituted the entire WTO without wider consultations—they did not even consult India which represents onesixth of the humanity. China became part of the rule setting SEPTEMBER
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WTO. So, even before Covid, the world order had begun to change. Covid is in fact expediting the changes. In 2017 itself, the US and EU Trade Representatives filed reports in their respective governments that WTO will become irrelevant unless we are able to force China to be transparent. How can a Marxist nation be made transparent? It has an ideology: to spread Communism throughout the world. China is an autocratic, nontransparent nation run on a model of oligarchy team and India had to accept the rules.
multinational factories wanted to enjoy
where no single person or entity calls
They had Marxist policies and market
the fruits of the Chinese labour. The US
the shots and, therefore, no one is
economics. India followed democratic
thought that its financial power will help
accountable.
politics with socialist economics. The
it to control the economic power.
world did not look at India because it
Unfortunately, the real economic power
China beyond China
had democracy and thought it was not
shifted to China post 2001 (WTC attack)
In 2014, Chinese Premier Xi Jinping
stable. China had stability because it did
and even more after 2008, when the
visited India and he had planned to
not have democracy.
financial meltdown happened.
enter into many agreements and strategic defence pacts with India,
We can understand that China cannot be controlled by one government. China is beyond China’s control.
In 2001, China was admitted to the WTO; in 2002, Human Rights Watch came out with a statement that the labour laws passed in China would never have been passed in any other country. The labour in China had no voice. 7
The
US
SEPTEMBER
2020
and
Western
The Trump phenomenon
similar to the defence pact China had
The 2008 financial crisis proved to the
with Russia. He landed in India on the
US that mere financial supremacy
17th September; on the 18th, i.e., the
without economic supremacy, which it
very next day, PLA invaded Ladakh, just
had surrendered to China, is not
like it did now. As a result, he had to
enough; but by that time, things had
drop out of all the planned agreements
gone too far. This led to the ‘Trump
—the peace treaty, the border solution,
phenomenon.’ Trump did not evolve as
etc. He went back and sacked those
a mere individual. He evolved against all
army people responsible for the fiasco.
the past misdeeds of the American
Thus, we can understand that China
governments,
cannot
starting
from
the
be
controlled
by
one
unprincipled postCold War order. The
government. China is beyond China’s
Trump phenomenon is no more
control.
Republican. Even the Democratic Party
WTO in 2019 declared that China is
supports the US move to withdraw from
not a market economy but still it is part
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of WTO because it is part of the global economy. Again, this is an oxymoron. The mistakes the world powers committed in the past are now hitting back at them. Today, China has real financial power and America, only phony financial power. The US has now declared that its interests will prevail over WTO. So the very instrument created for increasing trade and prosperity is being killed. This stand may be moderated, if Trump goes out of power. But it is not going to change fundamentally. Covid is thus a context and cause for the huge shift that is taking place in the world order. US and China—the two huge powers controlled the world for the last 50 years. In the new order, which may see order or disorder, all democratic and liberal democratic nations will be pitched against autocratic nations; globalization will cease to exist. Liberal democracies too may lose steam. The Central and East European countries are willing to walk out of liberal democracy in their own national interest, because of civilisational and historic reasons. India: The gold lining The US and the West made a blunder in
up. The last elections witnessed 69%
been proved wrong. Marginalisation of
voting percentage. We have been
India has dominated the postCold War
moving up from 40% to 69%. A high
order.
percentage of minorities, SCs and OBCs vote in India. The educated people vote
The post‐covid order
in lesser number. We have a firm and
Experts have pointed out that the post
bottom spread economy. India is
Covid world will be less open, less
therefore a safe bet.
prosperous and less free. Businesses will
undermining India’s abilities, perceiving
The Foreign Policy journal has said
it to be a weak nation and putting all
that India is the only silver lining or the
their eggs in the basket of China. India’s
gold lining in the world. Look at the
stability was always doubted. In liberal
contrast. All that was perceived about
democracies, the voting percentage has
India has been proved wrong. Similarly,
come down, whereas in India, it is going
all that was perceived about China has
8
SEPTEMBER
2020
be less profitable but more stable. The global supply chain was an unstable idea. Unless the world shared a common polity, stable supply chain is not feasible. 54% of the world has dictatorship and 46% of the world is
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There cannot be a common philosophy for the whole world
If the world thinks it is India’s responsibility to handle China, they are wrong. India can well align with China and that will be more profitable for India.
The future supply chains will not depend on whether it is cheap to buy; rather, it will depend on whether it is safe to buy. From cheapness to safety, there will be a paradigm shift. Cooperation will be between countries that trust each other.
under electoral democracy. India is 17%
harmonious philosophy which will link
and the West 14% of the electoral
these countries from inside. China’s
democracy.
empire building instinct is still intact
The West thought that they were highclass democracy, India as a low class democracy and ranked other
and its skirmishes in Ladakh region are more to distract India from focussing on its growth.
democracies still lower, instead of
For China, India is an impediment
proclaiming that dictatorship is the
to its global ambitions. China’s game is
worst.
to condition the mind of India. 30 to
India is the only hope for democracy in the world. The world is now realising the importance of India. India is needed by the world now more than India needs the world. India’s
40% of the government time, business time and policy makers’ time will be spent on how to handle China. That is how Doklam issue started and now Ladakh is going on.
India’s Atmanirbhar is a step in the right direction. It is not autarky. Every nation has to work with a set of nations, if not the whole world. India was once leading the economic and trade engines of the world. In 2005, G20 nations met in Beijing and declared that each nation must have its own economic policies and there is no onesizefitall model. In 2008, the World Bank echoed the same and went back
on
its
earlier
policy
of
recommending the same approach for all nations. There cannot be a common philosophy for the whole world. But
biggest strength is its democracy and it
China will try to exploit the
what is important is that there has to be
is not its weakness. India is the least
polarized polity in India and try to
a common understanding based on
integrated of all the nations. We can still
undermine the present government
certain essential values, which only a
survive, in a sense, without the totality
which is the biggest hope for India and
democracy can provide. The West and
of the world.
the democratic world.
India must align to take on the might of China. Covid has delivered a powerful
The world will leap from an
If the world thinks it is India’s
unprincipled world order to a principled
responsibility to handle China, they are
message
world order based on democracy on the
wrong. India can well align with China
unmeasured integration in the world. It
one hand and autocracy on the other.
and that will be more profitable for
will be chosen, perhaps regionwise.
that
there
cannot
be
India. In its own interest and that of the Keeping India in check
world, the West must work for an
China is a product of confrontation
alliance of democracy.
—within and outside. There is no
S Gurumurthy, is a chartered accountant, columnist, political and economic ana‐ lyst, and editor, Thuglak. SEPTEMBER
2020
9
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SEPTEMBER
2020
10
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I
n chess, I have often faced difficult
euphoria and emotional turmoil. We
for three weeks in Poland and was about
and tricky situations. I remember
have to identify when these things hit us
to come back to Germany for playing my
some crisis moments from my
and have the discipline to note down, so
second club match. While we were there,
career. In 1994, I was on my way to
that the next time these emotions come
worrying signs started coming up one
qualify for the world championship. In
up, our warning signals will go off.
by one. Italy and Spain were heavily
one of the knockout matches, after five
That’s how we learn. This is a lesson
affected. These were countries which we
games, I was leading my opponent by
from my personal failure.
thought had excellent health care
two points with three games to go.
This year, we are experiencing
Essentially, I had to lose two out of these
something that none of us have faced
three, so as not to win it. I started to
before and certainly not on this scale.
relax a little bit. I lost the sixth game and
This is literally the definition of Force
told myself that the situation was still
Majeure.
under control. I did not focus properly. I lost the seventh game as well and the
Clubbing two club matches
match went into tiebreak. I lost that
In February, I innocently got on a flight
too.
and went to Germany. The plan was to
I learnt from that experience that it
play one club match, stay there for three
is very important never to be
weeks and play another club match.
complacent and never to relax till you
Instead of flying back to India between
Those warning signals… Difficult moments are the ideal time to reflect, to objectively analyse ourselves and think what we really need to do, and
Long wait for tomorrow I called Lufthansa to fly back. They said, “Today’s flight is cancelled; May be tomorrow?” The answer was the same on many days that followed. I was stuck in Germany. It has been an extremely interesting learning experience. We can learn from situations just as much as
commentary for a chess tournament,
nervous when I am about to win. It is
wrapped up in your pocket.
called everyone and cancelled the event.
fortunate that I agreed to do some
as I have become older, I am even more
and another thing to have the game
Germany. On the 13th, my team captain
our own personal experiences. I was
have the point in your bag. These days,
one thing to be almost there in a game
system. On March 10, I arrived in
Difficult moments are the ideal time to reflect, to objectively analyse ourselves and think what we really need to do, and to improve systematically.
which was a new development for me. I agreed because I had to do something while in Germany and the assignment came in handy. It went on till the end of the month. My return flight date shifted to April 5. The tournament I was doing commentary got cancelled halfway. The reason they kicked off the tournament
to improve systematically. In chess, we evaluate ourselves after every game—the
these matches, I had an idea of clubbing
was because they had all participants
mistakes we committed and the things
these two matches and bridging them
and enough doctors with a high player
we did right—and work on them.
with a training session in Poland and
to doctor ratio, so everyone, including
Sometimes, there are broader patterns;
returning to India after the second club
me, could be safe till the end. Russian
there are psychological weaknesses
match was over.
airspace was closed halfway and no one
which I have revealed: impatience, 11
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2020
I played the first club event, trained
could go back home. They had to shut
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overboard with that. Within the town, I was able to go out. I took advantage of that and did a lot of physical training. Twin quarantines back home Then we found out that there were going to be some Vande Bharat flights, to return home. That called for quite a bit of planning to make a flight booking by filling all sorts of forms. It was nice to see the people evolving. For instance, the
Indian
embassy
in
Berlin
understood that simply putting a website where people can’t ask any the tournament. I began to suspect that this year was
probably the only logical thing I could
questions does not work. They started
have done at that stage.
adapting
and
communicated
to
going to be different and unlike any
Online chess started booming. In
other year. I had plans to play a big
April and May, every website reported
Every now and then, there would be
tournament in April in Germany. I was
three to four times the normal level of
WhatsApp rumours about a flight and
scheduled to play in Azerbaijan, Paris,
traffic. All events moved to online. No
the embassy would issue clarification,
Amsterdam and the US. Suddenly, the
one knew when all these would end. I
‘No, that’s not going to happen.’ I was
whole thing disappeared.
decided to rehearse and practice things
ready to travel to any city in India.
It looked clear to me that I might
that would be valid for any possible
Finally, I got my flight to Bengaluru on
not take a flight out of Germany in April.
future and useful to me no matter where
May 27 after three and half months in
Though flights landed in Germany
and when I play. I learnt about online
Germany. I spent one week in
bringing passengers stranded in India,
games, Pawn endgame; Rook endgame;
Bengaluru, quarantined.
they were not taking any of us back.
Sicilian defence and so on.
They flew empty back home. I found
individuals and through Twitter.
Then I took a flight to Chennai
Most economies were severely
wearing all PPEs. I got back home and
affected. It was impossible for all of us
was in home quarantine for a week in
to make any plans, whichever sector we Sharpen the saw
Chennai. I was confined to my bedroom
were in. The only thing we could do was
I tried to learn something new. I looked
and my meals would be kept outside. On
to work on the skills that we need. I did
at my chess, practicing some languages
June 14, I could enter the normal
a bit of that.
situation, in the sense that I could be at
myself with a lot of time.
and read subjects that I had not read —all these selfimprovement stuff. Given that we don’t know what kind of world we are going to return to, this was 12
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I was very lucky to be in Germany which had a relatively mild lockdown.
home with my family. Outside, the world continued with chaos.
They had strict regulations which everyone followed and they didn’t go
Getting ready, square by square
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When I play chess, I always get a dominant impression about the exact moment that I am ready for an event. This mental preparedness would gradually build up in stages. For instance, when I get into the car for the airport, something clicks. When I am in the plane, when I arrive at the hotel, when I go to the opening ceremony where they draw lots, when I meet other players—at every stage something clicks and I gain complete concentration; I know, for sure, that the tournament has started. I accepted an online tournament last month. Till two minutes before the event began, it just didn’t feel real. It felt like it was happening to someone else, somewhere else. I could not get ready for it. I am used to seeing players wandering about and looking at the boards; I would look at the spectators. All these cues are missing in online mode but we are still forced to operate from home. I lost the online game and, after the result was known, my son opened the door and wandered in. He was very happy to give me advice that he used to
something
get so many times, “Appa (Dad). You’ve
interacting or seeing your opponent. It
to practise this opening better; you’ve to
doesn’t really feel serious. I guess we’ll
Pandemic & the chess computer
concentrate. I think you’re getting too
get better with this. I need to
The pandemic reminds me of playing
distracted.”
manufacture artificial cues and how can
against the chess computer. When I play
That was nice and touching but it
I do that? Twenty minutes before a
against another human, I can read his
hit me on something: How do you
game starts, I have to look at puzzles, do
face and he can read mine for cues. Even
concentrate at home? There is
something that warms me up or play
when a passerby glances, there may be
training games. This is the beginning of
some information. If I defend my
unreal,
about
never
the curve.
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position with three accurate moves, then
us at a lower rate so that it can infect
may change fundamentally. The ratio of
I know by the fourth move, my
more people. It is just pure evolution. It
offline to online may not be 80: 20. It
opponent is getting slightly discouraged.
is a kind of enemy that requires us to
may become 40: 60. All we can do is to
I feel good having made a couple of
have a certain discipline.
take the precautions that we’ve been
positive moves. The opponent reacts to everything we do. When you play with the chess computer,
you
taking and be patient till we come out of Inspiring leadership
lose
that
sense
completely. You don’t have any idea what it thinks; nothing you do impacts it in any way. The Corona virus reminds me of that.
People have noticed that countries led by women have done much better than many other countries. There are several factors. I watched many addresses, while in Germany, by Angela Merkel, German Chancellor. One consistent pattern struck me. She never made fun
the pandemic. I feel sad to watch my son’s school year disappear. He used to have friends and social interaction. We have to tell him that the alternative is horrible. We need to be optimistic and come out of this crisis alive.
The first time I started playing with
of the virus or never tried to entertain
Even in chess, I don’t know what
computer, long back, I realised no one
the audience. There was honesty and
world I should get ready for. My wish
would pat you on the back or give a
frankness. “This is what we are facing.
list in January would have been
positive
The
There are so many cases I have heard of.
completely different—essentially, spend
computer opponent is very different and
This is what the top institutes, the
more time with family. Now we’ve got
will not allow you to relax. Only at the
experts are saying,” She would explain.
all the time to spend with our family and
feedback;
nothing.
end, you will know if you have done the right thing. It’s hard but the computer does not care. It is the same with the virus. All it is interested in is infecting more and more people. It’s even killing
All we can do is to take the precautions that we’ve been taking and be patient till we come out of the pandemic.
She gave one particular example,
it’s not easy either.
which I liked a lot. She said, “If the Ro
Just as a defeat in a game of chess
—the infection rate—is 1.1, then our
forces you to look at every alternative,
hospitals can cope. If it is 1.2, our
something like this crisis makes us to
hospitals will break down in June. If it
look at all aspects of our life. May be,
is 1.3, they will be down in April.” Good
success is not the only measure. You can
leadership is being honest with your
find out what the priorities are, what is
audience, acknowledging scientific facts.
important and what is not important.
There is a lesson there. Many world
I used to tell people, “I don’t think
leaders did not manage to convey this
I can survive more than a month
way and they did not get the required
without air travel.” I have taken one
response either.
international flight in the last seven months. I used to think that a lot of
17
SEPTEMBER
2020
Uncertain future moves
things are important. Now I have found
We are all in this for the long haul. I
out that many are not that much of deal
don’t know what the future will look
breakers. This is a good chance to reflect
like. I don’t know if the mixture of
and get ready for the future. Stay safe
online chess and offline will change. It
and all the best.
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18
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2020
Business Mandate fountainhead of excellence
ARUN MAIRA
was going up and down as we pressed
ASEAN countries, BRICs countries, and
the accelerator, just like an RPM meter,
all the other countries in the
to help us make judgments about the
subcontinent. For every unit of growth,
ver the last 15 to 20 years, we
money that we could invest in stock
we were destroying the environment
in India were travelling along
market investments. Using these two
more, creating less jobs and having
happily, living in the fastest
meters, we thought that that we
reduced income growth than even Nepal
growing free market democracy in the
understood how everyone was doing.
and Bangladesh and certainly much less
world. Our growth rates were just short
May be, it was some indication about
than many other countries that we
of China's but ahead of all other large
how the people in the bus were doing
would like to compare ourselves with.
countries in the world. Many of us were
but not about the vast majority of our
on this bus of growth. We had our safety
countrymen, who were not inside this
17 SDGs to be tracked
belts on and the bus was moving fast,
bus. They fell off the bus when the
We have to rethink as to how we govern
sometimes slowly, but nonetheless
economic growth story stopped.
social and economic systems not just in
O
moving well.
When I was in the Planning
We were doing well and enjoying
Commission as a member, we invited
the ride: We were even being served
organizations—think tanks around the
French wine and Swiss cheese! Then,
world—to help us consider how well
the bus suddenly stopped. We were
India was doing with respect to not just
surprised to see people falling off the
the economic growth, but also the care
bus; they had been riding on the bus
of the environment as well as the
rooftop, clinging on to this bus of
inclusion of the billion people of India
economic growth. We weren't even
in the economic growth. Scientifically,
aware of them!
this was called the SEDA framework: the Sustainable Economic Development
Two meters on the dashboard
Assessment framework. It pointed out
What the passengers (inside the bus)
that India fared the worst amongst all
and those driving the bus (the
of them was the GDP meter. We wanted it to keep rising from one trillion dollar to two trillion dollars, and make it five trillion dollars by pressing the accelerator. The other instrument that some of us looked at was, what I call the RPM meter—the Stock Market meter, which showed us how the stock market
sustainable development goals (SDGs) have shown the world a few years ago that we need to pay attention to 17 instruments—not just the GDP or the Stock Market instrument. It is very difficult to pay attention to 17 instruments at one time. This is the challenge that we have with global governance today. The Covid crisis has also shown us what is wrong with our present government and expertled models of improving systems. We are at this moment paying a lot of attention, as we need to, to prevent the medical
government) were looking at were two instruments on the control panel. One
India, but in the whole world. The
problem from becoming worse and to
We are getting better and better at knowing more and more about less and less.
finding solutions to the medical problem, one of which is physical distancing to prevent the spread of the pandemic. That is the right solution that our doctors have pointed out to us. The consequence of this good solution has been that other systems are breaking down. Our people, while being SEPTEMBER
2020
19
Business Mandate fountainhead of excellence
together to create life. The European Enlightenment—the first enlightenment in the 17th Century—broke knowledge into parts, into silos, specialized disciplines, in which one got to know more and more about less and less. Since Newton's time, 30 to 40 specializations have been developed in Physics. Then, we have Biology and Chemistry, each broken up into parts. In Social Sciences, even within Economics, we have so many schools, and there are so many other social prevented from dying from Covid, are
Need to unfocus
sciences. We are getting better and
dying due to other illnesses for which
We are used to managing by focusing
better at knowing more and more about
they cannot get treatment since all
and dealing with the problem very
less and less.
resources are diverted towards the care
efficiently, but now we need to unfocus.
of people infected with Covid. With the
We need to look at many things
stopping of the economy, people are
together. As humans, we don't know at
beginning to die due to starvation; they
the moment how to govern complex
don't have income to buy food.
systems. Einstein said very famously
Solutions, therefore, must look at all
that when one is confronted with a crisis
aspects of a system.
—an insoluble big problem—then, trying
Secondly, we must also look at the
to solve it by pressing harder on the very
future consequence of our actions.
method which might have caused the
Reducing the effort in disease
problem, is madness. When we think
prevention has caused schools to close.
about what we need in the future, let’s
All over the world, alarm bells are
not keep thinking of just government.
ringing about the effect of interrupting
We have to think of governance. What
children's education and how that is
we see now is evidence of the clash of
going to impact their lives in the future.
the scientific way of thinking and the
So crisis solutions in one part of the
natural way of being.
system can damage other parts too. It can also damage the health of the whole system and this is the challenge we have in management. 20
SEPTEMBER
More and more about less and less Science is a way of thinking; nature is a way of being. Scientific thinking breaks reality into parts; nature brings things
2020
Narrow domestic walls To use the expression of Rabindranath Tagore, a poet and a philosopher who was the first Indian to win the Nobel Prize, we could be ‘breaking up the
It comes again to our misconceived approach of managing large complex systems with strong central governments and large scale, centralised, private sector and NGO organizations. They take power away from people
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SEPTEMBER
2020
21
Business Mandate fountainhead of excellence
world into fragments by narrow
in parts of our country. So the scientific
way of thinking, which has been
domestic walls,’ by our thoughts and
approach about doing the same thing in
overpowering woman's way of thinking
actions. The walls have come up not
a large scale, with standardization, kills
for centuries now. We have to change
only between people in societies but
the beauty of complex systems and the
from trying to impose formal methods
between scientific disciplines too.
way they sustain themselves.
like management systems to overpower
Nature brings people and things together, creating life. We need new ‘enlightenment,’ because we suffer from not only the Covid crisis but also ecological and civilisational crises. We need to come, as Tagore said, to a situation ‘where the clear stream of reason flows and it is not lost in the dreary desert sand of dead habits’ and outdated thoughts. One of the first wellknown examples in scientific management of nature relates to forestry. In Germany, a same type of trees was planted in rows, applying
scientific
methods
to
improving them and counting them
Scientific population management
organic and informal systems, which
is about taking the best man and the
people use to earn their livelihood and
best woman and letting them to
manage their own communities. This is
procreate and then put their children
a crisis we have in India right now,
into special nurseries where they are fed
where, we denigrate the large informal
the best food, so they will grow into
sector that we have and stigmatize it. We
superior men and superior women. This
look down upon it even though that
method of spreading what we consider
sector has, in it, a great resilience.
the best and forgetting the rest destroys
People with very little resource and
the civilization and nature too.
support from the formal system sustain
We have to change this paradigm. We have to change from the mechanical
The changing global order
way of organizing things (which is
Even before Covid, globalization was
overpowering nature) to the natural
breaking up. Countries have been
way, following it in organizing our own
reacting to the global system of trade
society. We have to change from man's
management because their people were
easily. We introduced management
losing jobs and their incomes were being
methods of improving productivity in nature. Our forests survive because they have variety in them—different types of trees, bushes and grass. They work together and sustain the whole forest; the Amazon is not managed by the scientific ways of man. In scientific agriculture, we plant one type of crop in a big field, use machines and appropriate fertilizers and pesticides for that crop to improve productivity. But as we have learnt in our own country, with wheat and paddy, by using uniform crop practices we destroy the soil and even change the local weather pattern 22
SEPTEMBER
2020
themselves in the informal sector.
destroyed for the benefit of allowing
Even before Covid, globalization was breaking up. Countries have been reacting to the global system of trade management because their people were losing jobs and their incomes were being destroyed for the benefit of allowing trade of goods and money to flow around the world
trade of goods and money to flow around the world. Of course, more recently, geopolitical tensions have been breaking up the global order. In Covid, physical realities have broken the flow of products around the global supply chains. This is not going to change in a hurry. We have to stop now and think more about local rather than global solutions. This is the realization that we have come to, in the world today, seeing the complex problems of inequity of social systems, destruction of soil and
Business Mandate fountainhead of excellence
forest, water contamination and so on.
When the capital migrates…
The spinning wheel—the symbol
We can’t apply uniform solutions for
So here we are—back to the people in
I come to Gandhiji again. His Chakra,
water contamination or forests. All
the bus and many people outside the
the spinning wheel, was a symbol. It was
systems come together locally and
bus. Many of us inside the bus were
a vision of enterprise by the people,
create a local reality. So if you have to
beneficiaries of the form of globalization
producing things for the people, and
solve and improve on all the indicators
prevalent at the turn of the millennium,
which were also owned by the people.
of the SDGs, then the people of Kerala
in which those who had capital kept
We need deep democracy that is
must find their solutions for their
investing and increased their returns
government by the people, of the people
society, their environment and their
further. By this system of free flow of
and for the people.We have a conceptual
health systems as they are now doing.
capital, the wealthy kept growing faster
crisis in governing complex and
The people of Tamil Nadu must find
and faster. Therefore, the distance
dynamic social systems. Again, to quote
their own. The situation of Kerala
between those who have wealth and
Einstein: “We can't keep applying the
cannot be the solution for Himachal
those who can only work and get income
same institutional ideas and hope to
Pradesh, Nagaland or the desert lands
from work, has increased so high in the
solve civilisational and ecological
in the Thar Desert. It comes again to our
last 30 years. Probably 50 people in the
problems that we don't know how to
misconceived approach of managing
world today own as much wealth as half
solve today.” We create more problems
large complex systems with strong
of humanity. This is unsustainable and
by keeping on applying our present ways
central governments and large scale,
unethical. Globalization has been
of getting things done. We need to
centralised, private sector and NGO
making life easier for migrant capital to
rethink how we manage and govern
organizations. They take power away
go wherever it liked, but we've been
business enterprises as well as cities and
from people; we must object to it on
making it very hard for migrant workers
countries.
both scientific and ethical grounds. We
who cannot even find a home anywhere.
need local system solutions, developed
We need new forms of business
and implemented by communities, to
enterprises. As teachers of management
global systemic problems of health,
and managers, we must develop
livelihoods and care of the environment.
enterprises in which workers will create
We must change the theory of change.
the wealth for themselves and not, by
We should not be looking to scale up a
their work, create wealth only for
standard solution everywhere, but we
remote investors, many of whom don't
should scale up the ability of people
even know where their wealth is being
everywhere to find their own solutions
invested. For them, the enterprise is a
in their own communities. This was
just a stock market ticker. The condition
Gandhiji's way of giving freedom to the
of people working in it is not of much
people, to make people the masters of
concern to them.
Mr Arun Maira, thought leader, author, and former member of Planning Commission of India and former India Chairman of Boston Consulting Group.
their own lives, their own communities and their own solutions.
SEPTEMBER
2020
23
Business Mandate fountainhead of excellence
24
SEPTEMBER
2020
Business Mandate fountainhead of excellence
A
round the world, the corona
impossible to obtain certain services
acquainted with. While Bavaria took a
crisis has changed civil
without a personal appointment, but
hardlineapproach, which led to the
services. In one sense it has
now, egovernance has rendered this
police patrolling public places to ensure
made them change along similar lines as
possible in a breathtakingly short
social distancing, Berlin was reluctant
our service economies, which have had
amount of time. From taxreturns to
to sign off on similar measures. Two
to embrace digitisation and alternative
retirement money to unemployment
weeks ago, the city saw a 10,000 strong
workplace
the
benefits, a range of services has now
march against antiCovidpolicies. The
pandemic has also given civil services
been digitised, at least for the time
crowd disregarded every regulation,
and government structures on all levels
being.
from social distancing to wearing masks
regulations.
But
As they say, if radical change is
in private to the showing of Nazi
Perhaps the most important change
effected long enough, it becomes
symbols. The police finally ordered the
has been the shift towards home office.
permanent. It becomes our "New
dispersal of the demonstration on the
Wherever this is technically feasible, it
Normal".
unprecedented powers.
has been introduced. Germany has acquired the dubious reputation of being overly cautious when it comes to innovation. But Covid19 has forced our hand in this regard and surprisingly, the new solutions have proven
effective.
All
levels
of
government have introduced new work regulations along those lines.
in home office mode, while the foreign ministry works shiftwise. The state of Saarland in western Germany has introduced wideranging technical support to create an effective working environment at home. Down at the local many
city
and
There is also another side to it all. The corona crisis heralds the return of the forceful state. Coercive force is a foundation of the modern state. In Germany as also in the wider western world, we have tried to unravel this connection and to mitigate the states’
There is also another side to it all. The corona crisis heralds the return of the forceful state. Coercive force is a foundation of the modern state.
coercive tendencies.
The federal government is entirely
level,
Power and police under Covid
county
bureaucracies have also switched to home office. The southern city of Ulm is sharing its new experiences through a blog, highlighting the fact that we are treading on unchartered territory here. Earlier, it was believed to be
Over the past 50 years or so, the police, for example, have changed from a violent instrument to upholding order by force into a civil service to provide safety, security and the rule of law for everybody. Now, our civil service has once again been endowed with the task of surveillance and enforcing conformity for the sake of our health rather than
ground that public security could no longer be guaranteed. The result is that Germany is now debating a very difficult topic: The powers of the state in contrast to the responsibility of the individual. Is our health and safety a greater good than our freedom of expression?
our security. In Germany, the specifics
Undoubtedly, the corona crisis has
of this vary from state to state, as those
forced the state to make deep intrusions
policing
the
into civil life, but the measures have so
responsibility of the federal states, a
far been carried by majority support.
situation Indians are undoubtedly well
The German government has been at
duties
fall
into
SEPTEMBER
2020
25
Business Mandate fountainhead of excellence
pains to be strong but not an enforcer.
hardfought gains of the majority.
Angela Merkel has gone to great lengths
Multiple states, Berlin included, have
Civil service prospers under the
to explain that ours was not a curfew
now reacted to lax adherence to rules
pandemic. While this is probably our
but rather "contact restrictions".
and open flaunting of advice, and made
best and only answer to the current
The German government is willing
the police enforce more hurtful fines
crisis, we should always remain vigilant.
to do what is necessary but unwilling to
against not wearing masks on public
Because what is true for the very few
do what might be useful but excessive.
transport. But the debate has only just
advantages of this pandemic, might be
begun and will stay with us for some
even truer for its many repercussions;
years to come.
and I reiterate: If radical change is
When laxity leads to irresponsibility... But believing in the responsibility of
assume in liberal democracies.
the
affected long enough, it becomes
people becomes problematic if the
government is expanding and taking
permanent. It might become our “New
irresponsibility of some threatens the
over responsibilities it does not usually
Normal”.
To
combat
the
crisis,
Now, becoming a member or renewing your membership is easy. Click Now!
Have a query? Let us know: mma@mmachennai.org
26
SEPTEMBER
2020
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SEPTEMBER
2020
27
Business Mandate fountainhead of excellence
T
oday, the corporation is the
Chairman (or leader) whose salary is
most recognized form of doing
often a fraction of what a similar leader
business, especially with its
in a global corporation of similar size or
strong focus on global direction and
profitability gets paid. They are also
unity of purpose and the ability to use
constantly adapting to changing market
limited liability as a weapon to take
conditions, finding opportunities in new
significant risks. However, in knowledge
areas, and pruning areas which do not
intensive industries—like investment
see strong customer demand.
banking, audit, tax, legal, consulting and
Partnerships
pose
Partnerships pose interesting opportunities and challenges in leadership and management.
interesting
engineering services—partnership has
opportunities
been the chosen organizational form for
leadership and management. I would
a very long time, and it continues to
like to highlight the key lessons I have
remain even now.
learnt in my 25 years of working in
Autonomy
Some of these professions impose
various leadership positions within a
Partnerships
significant personal liability on the
partnership environment. I hope this
entrepreneurial drive, and this is
practitioners (e.g. Audit), and pooling
will be helpful to those of you who are
possible because of the high level of
of these individual risks allows partners
joining similar firms or setting up
autonomy. The word ‘partner’ connotes
to grow their practice while still
partnerships
ownership, and the promise of
adhering to their statutory obligations.
industries.
Some of these partnerships have now evolved
into
Limited
Liability
Partnerships (LLPs) as allowed under their legal and regulatory framework, but in terms of the way they are run, they are still very much run as partnerships. Some of them, especially investment banks and some consulting
and
in
ownership will only be delivered if the
key lessons which I explore in detail
in their decision making and a link
below:
between effort and reward. Wellrun
— Autonomy is the elixir which allows partnerships to thrive — Consensus is central to growth — Surface and resolve conflicts for
better
— Recruit and integrate people who will fit, not necessarily stars — Benchmark to improve, not explain
have been around for close to 175 years.
— Build your trust balance sheet
Globally, they are often built as global
— Give professionals the social
networks with low corporate overheads, a very flat structure, and a Global 28
SEPTEMBER
2020
partnerships use autonomy to great effect by harnessing high levels of energy from their partners. One of the key challenges for leaders is on setting
and harmony
to achieve more flexibility in the capital
the largest Fortune 500 companies, and
significant
individual feels a high level of autonomy
relationships
(especially the Big Four) have outlasted
require
I distill my experiences into some
firms, have become listed as companies,
some of the oldest partnerships
in
knowledgedriven
effectively
structure. It is interesting to note that
challenges
status they deserve
the guardrails in risk taking such that autonomy is not stifled; because once autonomy is curbed, it takes enormous effort to reignite it. I was exhilarated by the autonomy in my early years as a partner in a professional services firm, building a practice. Interestingly my experience in Pond’s in the early 1990s was no different, as it had created a bunch of intrapreneurs. How do you nurture or
Business Mandate fountainhead of excellence
feed this autonomy? By building trust with your fellow partners. And how do you build trust with your partners? By delivering on promises. How do you deliver on your promises? By knowing your clients and what they will spend in a year. Building a portfolio becomes important because you will have businesses which are in different stages of maturity—this ensures that the overall portfolio can both allow for returns and provide for investments – without having to draw on the broader partnership. Many people who join professional firms think like executives
Professionals who blame the environment rather than take charge of their destiny are unlikely to grow—they will definitely have a role as an employee, but it requires a self‐starter to become a partner.
—they expect someone (shareholders) to stump up the money for investment before showing some results; there are no
other
shareholders
in
the
partnership, and your fellow partners will bear the pain if something happens. My experience over the years as partnerships change character and grow is that while the form of decision making (business case meetings and levels of approvals) changes, the essence is often built on the trust the leaders have with the individuals concerned. Often times, partners fret at the forms and processes required, but lose sight of the bigger picture—in a large firm, procedures exist for a reason. If partners focus their energies on the core issues and not on the administrative processes, they will get the necessary support and
retain the trust of the leaders.
advantage in a partnership.
Professionals who blame the environment rather than take charge of their destiny are unlikely to grow—they will definitely have a role as an employee, but it requires a selfstarter to become a partner. Someone who waits for or takes orders is unlikely to step up as a leader. The flip side of this
Consensus A key aspect of a partnership is that the shareholders (owners) are also the managers of the enterprise; therefore, aligning individual and collective interest is very important. I share below some of my experiences over the years:
is that most partnership environments
Higher purpose
offer
to
One of my roles was building greater
professionals to shape their careers. So
partnership alignment around the
being proactive in planning your career
Firm’s higher purpose and this was
journey can become a source of great
hugely rewarding. Significant efforts
considerable
flexibility
SEPTEMBER
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29
Business Mandate fountainhead of excellence
of teamwork.
My experience with securing buy‐in even from the most junior partners has shown that the broad ownership of the decisions changes the commitment these individuals have to the Firm
Conflict resolution Managing conflict is very important in a partnership, but even more so in environments like South East Asia where dissent is often hidden. It is, therefore, important to surface the
were expended in helping partners
even from the most junior partners has
define their own `personal purpose’ and
shown that the broad ownership of the
then communicate it with their teams.
decisions changes the commitment
This also resulted in significant
these individuals have to the Firm, and
improvement in partner and staff
they build pride in the Firm’s actions
engagement scores that had been falling
and stand by the decision in difficult
for a few years. A Harvard Business
times.
Review article (How an Accounting Firm Convinced Its Employees They
dissent and then actively resolve it, rather
than
assume
that—when
someone does not speak up on an agenda —their silence is assent. This will be particularly
helpful
in
securing
commitments of the often silent majority to effectively execute key
Leading in regional roles
decisions.
In my career, I have been asked to take
One of the important areas where
on several regional leadership roles,
dissent needs to be handled sensitively
where I have had to lead more senior
is in the partnership admission process.
and experienced partners from other
Often, there are disagreements about
large offices like Australia, Japan and
whether candidates are partnership
Goal alignment, especially around the
China. My approach to getting their
worthy, and emotional factors play a
pace of growth, is an important area
support in key decisions is to help them
part in these opinions. Managing these
where consensus among the partners is
succeed in their roles, often by bringing
processes with the right combination of
required as it is one of the central
business
large
factbased persuasion and empathy will
decisions most partnerships have to
international clients whom they did not
enable the partnership to resolve
make. Some partners who have worked
have access to, or by using niche areas
conflict in this important process
hard on their way up want to `enjoy the
of expertise where we, in Singapore,
effectively.
good life’. Carrying this group is
have built great depth and can help
important if you want effective strategy
them sell into their clients.
Could Change the World, by Bruce N. Pfau, October 2015) documents our journey in detail. Alignment in goals
execution. How growth is achieved is
to
them
from
Leadership contests need not be zerosum games. A senior partner
In summary, building consensus
contest means that there will be winners
with your fellow partners is central to
and losers. In a corporate, the loser
growth
the
leaves for other places, but in a
partnership. It is less difficult than it
partnership we have to work hard to
Buyin
seems if it is focused on helping partners
keep the losers motivated and engaged,
My experience with securing buyin
articulate their own purpose and goals
as the business and relationships built
as well as achieve them in the true spirit
are valuable to the Firm and need
another important aspect which requires consensus—for example, entry into adjacent or even unrelated areas.
30
SEPTEMBER
2020
and
harmony
in
Business Mandate fountainhead of excellence
significant nurturing. In fact, the losers get the most important available jobs
Time and again, I have learnt that it is not about chasing stars but rather finding professionals who are both team players and whose talent is portable and can be leveraged by the Firm.
and have to work hand in glove with the winners so that the Firm stays together and grows from strength to strength. Recruitment and integration One of the biggest learnings for me as a partner has been in recruiting senior
compensation and rewards, choices are
says: “Suckers try to win arguments;
talent and integrating them into the
important and require significant
nonsuckers try to win.”
Firm. Time and again, I have learnt that
deliberation:
A few key lessons that I have found
it is not about chasing stars but rather
— Do we reward based on
finding professionals who are both team
seniority or performance?
players and whose talent is portable and
— How much cash do you pay
can be leveraged by the Firm. My
out and what do you hold back for investment and future
intuitive experience in this regard over
needs?
the last two decades was validated when
— What is the mix of individual,
I read the work of Harvard Professor
team
and
overall
firm
Boris Groysberg (Chasing Stars, The
performance in a partner’s
Myth of Talent and the Portability of
pay?
Performance, Princeton University Press) with much interest.
Each partnership will have to find its own answers for the above, but needs
very useful in this regard are: — In a partnership, the pressure is to perform—not to explain —because it hurts our pockets directly; — We need to use market feedback
(especially
clients
and
from
business
associates) not to explain why we are not doing well, but to get to the root of the problems and solve them;
One important area where I have
to keep in mind the principles of
— Given that we hire so many
spent considerable personal energy over
simplicity, motivational impact and
senior professionals, we need
the years is in integrating senior hires.
equity.
to constantly learn from their
Sharing with them the values and ethos of the Firm, and the choices we have made will inform their decisions for the better. It also brings them closer to the partnership, which is best described as a family. The most satisfying aspect of building people for me is the sense of legacy we leave behind when we retire from the Firm; this makes us work harder to leave the Firm in a better place than where we found it. In the area of partnership
best practices, and improve ourselves, not defend our own
Benchmarking In a partnership environment, unlike in a corporate, partners have to explain their performance to themselves because
openness to new ideas is what has made for the long term survival of such partnerships; — I have had the privilege of working with partners from a
found it very beneficial to not find
range of other cultures, and
elaborate
poor
we need to learn from these
performance, but rather focus on how
cultures, as we build a better
explanations keep
the
because
consequences. In this regard, I have
can
face
practices,
raw
we
they
past
for
improving
our
performance. As Nassim Nicholas Taleb
Firm; and — The best metric to know if our business is moving in the right SEPTEMBER
2020
31
Business Mandate fountainhead of excellence
direction is to monitor our
understanding which can be
equity. That journey to equity
market share of talent. If our
avoided;
is important and needs to be
people are leaving for our
— Building physical assets (like
competitors, they are doing
real estate) and taking on debt
— Increasingly, staff roles like
something better than we are
can strain the trust between
Finance, HR and IT require
and we need to fix it.
the current partners, as well as
deep specialists as Firms
create intergenerational trust
become larger and more
Trust
communicated credibly.
issues, so these decisions must
complex. The conundrum
A partnership is a family you adopt
be carefully thought through;
facing partnerships is how to
yourself into, and every interaction and
and
give these professionals (who
decision is an opportunity to build your
— Partners
trust balance sheet with your fellow partners. — In a timestarved world, we need
to
make
interactions
social
with
our
colleagues and clients count in
showing
vulner
ability and asking for help in
same
key areas should not be seen
‘Partners’.
as weak; instead this should
— With
social
status
increasing
as
seniority,
be encouraged as it is a sure
partners often are forced to
way to build trust among each
abandon client roles for
other.
largely internal management roles. This often results in
a way that they see us helping
Social status
them
Peter Drucker, who coined the word
market, and more importantly
`knowledge worker,’ understood it well
losing empathy for their fellow
when he said that for knowledge
partners; this can be avoided
workers social status was paramount.
with
make
their
lives
simpler; — In interacting with colleagues across geographies, it is good to leave money on the table
them losing touch with the
and not optimize your short
Partnerships offer one of the best role
term outcome to the last
models for creating social status for
dollar, as that will strengthen
knowledge workers. In this regard, the
the long term relationships;
title `Partner’ connotes to the outside
— Different units within the
world that someone has arrived, and
same geography view the world differently, and so you need to understand others’ perspective
in
order
to
therefore, gets professionals working really hard to get there. Some learnings
— You start building your equity
them. For example, the
the day you join, regardless of
commitments an auditor and
how junior you are. You need
a
consultant
to make it count, and not
make with regard to a
think that you are too far away
financial target may convey
from the goal.
management
and
this
opportunity SEPTEMBER
2020
creates for
an mis
— Often partners are admitted as nonequity
some
client
facing
responsibilities. — With increasing complexity in the market, leaders have to work harder than their fellow partners, and should not view leadership as a resting spot before their retirement (where their reports do the work and they enjoy the fruits). The best firms are the ones
for me over the years:
communicate effectively with
different levels of certainty,
32
are nonrevenue earning) the
or
salaried
partners and then move to
where the infectious energy and effort of the leaders inspires the rest of the Firm to excel.
Satyanarayan Ramamurthy, Partner, Head of Infrastructure, Govt. and Healthcare, KPMG Singapore
Business Mandate fountainhead of excellence
34
SEPTEMBER
2020
Business Mandate fountainhead of excellence
M
any people have a self
Creative people we admire
Rahman entered the scene. He
limiting belief. Ask them if
Who are the creative people we admire
offered a totally different brand
they
and what do we admire in them?
of music and became a legend.
are
creative
—although they wish to be creative—the
• Actor Sivaji Ganesan rose to fame
answer would often be, ‘No.’ The fact is
by his expression and dialogue
that all of us are indeed creative. In
delivery. He was very different
these difficult times, it is our creativity
from other famous actors at that
that will help us face the challenges, and empower us to come out victorious. Let me ask you to draw a triangle on a piece of paper. Done? Now check your response. Most of us would have drawn an equilateral triangle. Very few would have drawn a triangle which is standing on its side. And less than 10% would have drawn an upside down triangle. The reason? We think that the first one is the right way of drawing a triangle. And that is the only way. Why try anything else then? Now, try
time. From a new entrant, he became a legend. • Cho Ramaswamy was an actor, comedian, lawyer, politician and journalist. The manner in which he wrote political articles in his magazine
‘Thuglak’
was
completely different. • Mandolin
Srinivas
became
famous by adopting a western instrument to play carnatic music. • Actor Kamal Haasan’s claim to fame was the manner in which he acted, danced and delivered dialogues. • Director K Balachander shifted from stage plays to directing fielding two youngsters –Kamal
(IX) to the number 6 with just one
Haasan and Rajinikanth. The way
additional line.... SIX is one right
he made movies and directed
answer. The letter ‘S’ is a line but we
them was completely different
don’t consider it so, as we assume that a
from that of other directors of his
Another answer could be I X 6, which as a multiplication gives the value of 6.
film
song
Kannadasan,
writers
Vaali
and
Vairamuthu have been unique in their styles. • The approach film directors Gautam
Menon
and
Mani
Ratnam follow are completely different. • M S Subbulakshmi delivered Carnatic music like others, but the tinge of piety and devotion elevated
her
music
to
time. • Music Director M S Viswanathan delivered
music
that
was
• Carnatic Musician T M Krishna has been different from others in the way he experiments with varied styles of music. • Shankar Mahadevan brought a huge difference to playback singing. • Steve Jobs and Bill Gates were unique in their own ways.
In essence, the people we admire have not just been creative; they also found out a way to be relevant
different from the one offered by
Here we have added 6, which is also a
his predecessors. Then came
line. The point that I want to make is
music director Ilayaraja who was
this: Most of the time, our creativity is
also different, offering ethnic,
curtailed by our own assumptions, and
folklore type of genre. When
our compulsion to be always ‘right.’
people thought that there was
a
completely different level.
movies. And he took a risk by
converting the Roman letter for nine
line should always be a straight line.
• Tamil
nothing more to achieve, A R
SEPTEMBER
2020
35
Business Mandate fountainhead of excellence
IDEA & creativity
Abandon the beaten path
+
In essence, the people we admire have
multiplication (10 x 10) or division
An idea is a prescription for action. An
not just been creative; they also found
(500/5). If there are 20 students in the
idea has an active verb and a noun.
out a way to be relevant yet different.
class, there can be multiple right
Creativity is all about creating a
Thinking, demonstrating and delivering
answers. The ability of leadership is to
difference. Each of us must fish for ideas
differently became an important point
generate as many right answers as
and we should not be satisfied with the
in the lives of the creative people we
possible.
first right answer. We must give
admire. The ability to use their core strength and differentiate their offering from others is an extremely important
35),
subtraction
(12020),
When I did a corporate workshop, one of the participants showed me a
ourselves a creative license which has no expiry date.
photo he took of the Eiffel Tower in
Magic happens outside our comfort
Paris. He had shot it from the bottom of
zone. Bill Gates once said, “I choose a
the tower, rather than in the usual way
lazy person to do a hard job, because a
As Albert Einstein said, “Insanity is
it is shown in the picture post cards.
lazy person will find an easy way to do
doing the same thing over and over
When I asked him the reason, he said he
it.”
factor in all the creative people that we admire.
again and expecting different results.” was tired of the standard view, and that Management guru C K Prahlad says,
the enormity of the tower came better
“You can’t be marginally different and
from a bottom angle. That is exactly
expect to do big things. You have to be
what thinking differently is all about,
radically different.” We must be bold in
which is stepping out of the crease,
our thinking and dare to move away
rather than limiting to be safe inside the
from the beaten path.
crease.
identity and do not want to be lost in the crowd. Steve Jobs said, “Your time is limited, so don’t waste it living someone
friends from varied backgrounds. Tell them that you are working on an XYZ project and ask them what they would have done if they were in your position. Capture their commenting on what they say.
do not put efforts to tap that creativity. each other. We have our individual
1) Phone a friend: Dial at least five
responses without arguing or
We all are inherently creative but We neither want to be xerox copies of
Tips to become creative
This is a very powerful technique
“You can’t be marginally different and expect to do big things. You have to be radically different.”
and there is a good chance that you may get at least ten different ideas. 2) Outofthebox ideas: We often hear about this term, but nobody has defined a box. Here is a
else’s life.”
definition for a box. Imagine you Obsession with the right answer The obsession to think of only one right answer for any problem is a huge barrier to creativity. For instance, in a school, if students are asked how they can arrive
are inside a room that has no doors, windows or ceiling. There are 6 ft high walls on all four sides. Outside this room, there is another similar room, but with 12 ft high walls, and filled with all your
at the number 100, they may come up
‘Assumptions.’ Outside of this
with the answer using addition (Ex: 65
room, there is one more similar
36
SEPTEMBER
2020
Business Mandate fountainhead of excellence
SEPTEMBER
2020
37
Business Mandate fountainhead of excellence
impact) is fillins and can be used as starters. In Q2, where effort is high but impact is Low, is for ‘Hard Slogs’ or ‘Thankless tasks.’ We need to avoid this quadrant. In Q3 (low effort and high impact), we have ‘quick wins’ and in Q4 (high effort and high impact), we have ‘Major Projects.’ Q3 and Q4 are favourable quadrants. With this, you can prioritise your actions.
room, but with 24 ft walls, and
character might suggest? Eg:
filled with your ‘Logic.’ If you can
Mr Bean. The actor said that he
manage to cross all these walls, i.e,
always thinks like a nineyear
if you overcome your assumptions
old anarchist kid.
and your logic, either by digging an
underground
tunnel
d)
Nandan Nilekani, the father of
or
‘Aadhaar card’ suggest?
jumping above through aerial route, then you are outside the
e)
box. 3) Generate
many
ideas,
f)
challenging all the assumptions. 4) Write a wish list: If your wishes
What might someone like
g)
anymore. Once we get a good idea, we
What might Mukesh Ambani, ‘a
must make a business case and get a
person of big ideas’ do?
sponsor or investor to take the idea
What might yoga guru Baba
forward. It is our passion and
Ramdev suggest?
commitment that will provide traction
What should we continue to do
to our ideas.
which we are doing well?
could come true, what would your
Thinking differently is not a choice
One final thought: We are ALL
wish list look like? What ideas do
h)
What could we be doing better?
these wishes suggest?
i)
What should we start doing?
creative. We have come fitted with this
(One that which we are not
powerful engine. It will be a shame if we
doing)
don't go beyond the first and second
What should we stop doing?
gear of such a powerful vehicle and
(One
enjoy the exhilaration of that power.
5) Use provocative questions to think differently. Here are some provocative questions: a) What would you attempt to do if you knew that you could not
that
is
unhelpful/
ineffective) 6) Focus on the intersection of
fail? b) What if you appeal to the heart instead of the head? In
‘Things that matter’ and ‘Things that you can control.’
business, you need logic;
7) Use the action priority. Impact
however, to generate ideas,
versus Effort matrix to plot all the
you can use your heart.
ideas that you have generated.
c) Ask what ideas your favourite 38
j)
SEPTEMBER
2020
Quadrant 1 (Low effort and low
R Sridhar. Innovation Facilitator/Coach, Author and Speaker.
Business Mandate fountainhead of excellence
Our “self‐worth” is determined in our own minds by our job and the position. reason for this is that most of us define who we are by our jobs, our organisation and the title we hold. Our “selfworth” is determined in our own minds by our job and the position. As Hyrum Smith, author of the book “Purposeful Retirement” says in the book: If I based my value on my job and my job goes away, my value as a human goes away with it. This leads to big trouble. This leads to unhappiness, isolation, depression, and eventually death. He gives the example of a senior officer in US Army: “After 38 years of service, now a full colonel, he was told to retire. He didn’t want to go. The military was his life. He felt as though “Retirement is no longer an end. It’s a new season to live purposefully.” ~ Hyrum Smith, Author of “Purposeful Retirement”
or CAs, may choose to retire to take a
ost people who are
Some others may be forced to retire
working
an
involuntarily due to organisational
organisation as employees
restructuring, acquisition or other
M
in
at whatever level, will retire at some
break from their profession and have more time to pursue other interests.
reasons.
stage in their lives; it could be at the age
Irrespective of how a person comes
of 58 or 60 or 65. Many people, who are
to retire, it is a major transition in that
selfemployed like entrepreneurs or
person’s life. The impact of that
professionals such as doctors, lawyers
transition can be dramatic. The main
he was being kicked out, and he died six months later.” We tend to define ourselves by our jobs, and when that is gone, there is a vacuum. How can you make sure that life post retirement, i.e., the “second innings” is satisfying, happy and meaningful? This requires careful planning even while one is employed or SEPTEMBER
2020
39
Business Mandate fountainhead of excellence
working full time. In fact, in many
leverage networks you may have built
cases, the planning has to start as early
over the years.
as early 40s.
Engaging in activities that you are deeply interested in, that require you to
Four pillars There are four pillars for building a happy and meaningful life
use your talents, that help develop or utilise network of relationships and
post retirement:
serve the community, is the most
•
Purpose
purposeful way of leading a retired life.
•
Financial stability
•
Physical fitness
Financial stability
•
Mental health
In order to pursue a purposeful life, you
All four are extremely important
should be free from financial worries.
and interlinked. If one is missing it can
Your finances at the time of retirement,
have a negative impact on the others
should enable you to lead a quality of
and on overall wellbeing. All of these
life that you desire and you are
need to be thought through and planned
comfortable with. For this, your
as early as possible in your career and
financial planning must start very early
definitely by the time you reach 50s.
in the working life. A financial planner and investment advisor’s help would be
Purpose
needed to develop a good financial plan,
You need to have a vision or broad
taking into account expected income
goal(s) for what you want to be doing
and expenses over the years and
post retirement. Where are you going to
arriving at a savings and investment
direct your energies, in what set of
plan that would leave you with sufficient
activities and to what purpose. It could
resources at the time of retirement.
be related to the work you are already
Revisiting and revising the financial
doing or it could be an area that you are
plan every few years would be required.
deeply interested in but could not pursue during work life. Ideally, it
Physical fitness
should be an activity or set of activities,
Huge amount of research has been done
that would require you to engage your
about the effect of physical activities,
talents, capabilities and energy. If these
particularly fitness related activities on
serve the community, the society, in any
health. There is a strong positive
form, either as charity work or for
relationship between physical fitness
monetary benefit, then all the better.
and longevity. Being physically active
These activities should also help you to
slows down the aging process and also
build connections with people or
keeps a person mentally agile.
40
SEPTEMBER
2020
You need to have a vision or broad goal(s) for what you want to be doing post retirement.
Exercise in any form, be it sports, gym, running, yoga or Tai Chi, supported with a good healthy diet would be required for physical fitness. Recent studies have shown that sleep is also an essential ingredient and many young people ignore this. Sleep is when the body and the mind repair and rejuvenate. So, it is important to get the right amount (between six to eight hours) of good quality sleep. Pursuit of physical fitness should be a lifelong goal and should start at a very young age and continue well into old age. Mental health As you age, the cognitive function of the brain deteriorates. It was once thought that slowing down and deterioration of mental faculties are an inevitable outcome of the aging process. However, recent studies have shown that this is not true and not only is it possible to remain mentally sharp but also one can reverse the decline of cognitive capabilities. Neuroplasticity and neurogenesis are fascinating areas of study of the neurons that are subject
Business Mandate fountainhead of excellence
the healthiest at age 80
of latest research. In order to arrest or
Close relationships and engagement with the community play a critical role in keeping us young and healthy as we age.
reverse decline of mental faculties, you
Therefore, for your post retirement
can practice specific exercises such as
life, it is extremely important to develop
mindfulness, meditation and also learn
and
skills such as new languages or develop
relationships. A number of studies in
new hobbies. These become more
positive psychology have important
important as you get into the 50s and in
lessons to offer as you think of
later years. Close relationships and
retirement. Dr. Martin Seligman,
engagement with the community play a
considered to be the father of positive
As you approach retirement, it
critical role in keeping us young and
psychology, categorises our lives into
would be good to explore opportunities
healthy as we age.
three groups:
where you can contribute through your
Harvard Adult Development Study,
•
one of the most prominent studies, which over 80 years has tracked the lives of 700 American men, studying their
professional
lives,
family
maintain
strong,
close
Pleasant Life: where we
talents and abilities. For example, MMA
pursue all good things in life
offers excellent opportunities for
such as food, entertainment,
professionals to contribute to the
relaxation etc. •
Engaged Life: where we engage in activities that utilise
relationships, health, financial and a
our interests and talents such
number of other parameters.
as photography, adventure
The most important findings of this research study are: 1. Good relationships keep us happier and healthier. 2. Social connections are really important and loneliness kills. People who are more socially connected to family, to friends
•
management / business community and society at large through various avenues. In conclusion, while you are still in
travels, painting etc.
your 50s, it would be good to prepare
Purposeful Life: where we
for the second innings, i.e., post
utilise our talents and abilities in serving or engaging with the community / society. His research shows that people who engaged in Purposeful Life had the highest life satisfaction.
retirement life by focusing on the four pillars—Purpose, Financial Stability, Physical Fitness and Mental Health —that can help you build a very satisfying, happy, purposeful life.
and to community are happier, physically healthier, and live longer. 3. It is not just the number of friends or relationships that count; it is the quality of those relationships that matter. 4. Good relationships protect not just our bodies but our brains as well. 5. Those who were most satisfied in their relationships at 50, were SEPTEMBER
2020
41
Business Mandate fountainhead of excellence
MMA in association with Global Adjustments Foundation and KAS organised an exclusive online Fireside chat event for women on the occasion of Independence Day 2020 on the theme “Marching Ahead: The Next Normal” on 13 August 2020.
T
he objective of the twohour
•
you through difficult times.
event featuring two Special Sessions was to provide
•
mind during COVID19, so that they can navigate and prepare for the next
How
to
have
difficult
conversations and ask for
women with guidance and practical resources on topics that are on top of the
Clarifying values that guide
things that you need. •
Staying true to yourself and what it entails.
•
normal.
Helpful approaches to address ‘new normal’ challenges.
The theme of Special SessionI was “Advocating for yourself and others.” Life and work have changed fundamentally
during
Covid19.
Dr Ranjini Manian, Founder Chairperson,
“In the next normal, women have to speak up unconditionally,” pointed out Dr Ranjini Manian, the moderator, and asked the speakers to share their personal experience in ‘speaking up.’ Anu Hassan said she was a people pleaser all along till she reached her midthirties when she realized that
Adjustments
things were not quite right and felt that
Foundation, moderated the panel
she had to take care of herself. She
discussion. The other speakers on the
started speaking up for what she wanted
panel were:
to do and it made a marked difference
Ms Kamini Shah, CFO
in her approach to life. There was a sea
Therefore, our goals may need to change
Strategic Sales & Geographies,
change in her personality.
too. What strategies help in overcoming
Wipro Ltd
some of the challenges that the new
•
Global
Speaker
•
normal brings? The discussion points •
included: 42
SEPTEMBER
2020
Ms Maria Goretti, Author, Chef
“You cannot share from an empty
and Television Host, Mumbai
cup,” she said and added that her
Ms Anu Hassan, Actress,
change helped her to take very good care
Entrepreneur and Motivational
of her parents in their last days, without
Business Mandate fountainhead of excellence
feeling burdened in any way. “That is the
I was not independent. It is a different
Ranjini Manian patted all the three
biggest advantage of having advocated
thing to stand in front of a camera as a
panellists for driving home the point,
for myself ten years ago,” she said.
TV host but personally, I used to be very
“First advocate for yourself before
Kamini Shah felt she was very lucky
shy and petrified. I stood up and went
advocating for others.”
in her growing up years in terms of the
ahead with my study. For the first time
On Work from Home (WFH),
opportunities that came her way. “I am
in my life, I walked out of my comfort
Kamini said it was very chaotic initially.
in a family that has four daughters. My
zone. I am glad I took the decision. It
“The privacy of my space is getting
father made sure that all of us had equal
changed my life for the better,” shared
invaded in WFH,” she said and added
opportunities,” she said. But after
Maria.
that companies expect employees to be
marriage and her first child, everyone in her joint family and friends advised her to quit her job. She was very clear that she wanted to pursue her career. Her husband was very cooperative and together they could convince the family members. “Now I am very happy I stood up then and advocated for myself,” said Kamini. Maria Goretti said that in 2011 when her daughter was three years, she got an opportunity to go out for three months to study. Everyone discouraged her. “I have never travelled on my own.
available all the time in the WFH model.
There is a work time and I am accountable for that time. There are times that belong to me as an employee. The organisation should help me in that respect and it will benefit both men and women.
She stressed the importance of having a
~ Kamini Shah
management for any support. Get a
work structure. “There is a work time and I am accountable for that time. There are times that belong to me as an employee. The organisation should help me in that respect and it will benefit both men and women. Be clear in what you can do and what you cannot; Speak to the mentor and don’t micromanage,” was the advice of Kamini. Anu Hassan said that perfection is SEPTEMBER
2020
43
Business Mandate fountainhead of excellence
Maria patted Ranjini Manian for the ‘ChampionWoman’ programme she has been conducting through her NGO and empowering several women. She mentioned that only after a lot of self damage, women accept the fact that ‘it’s okay to say no.’ Ranjini Manian drove home the fact that only 20% of our girls who graduate are in the workforce while it is 80% with the boys who graduate. This inequality is due to many reasons, the prominent one being, that many women are not able to work after getting married. “No one asks a boy how he will manage the work and family after getting married. These are the things that we take up in the Life Leadership Programme through our NGO,” she said. In the rapid fire round, the panellists were quick on their feet. What did Maria have to advocate
“Women set a high bar for themselves—to be a super mom, super wife and so on, and complicate their life."
for her husband Arshad Warsi? “OMG.
~ Anu Hasan
response.
No clue!” was her quickwitted
What did Anu Hassan advocate for all the other members in her famous
not a requisite. “Women set a high bar
areas. Anu also pointed out that women
for themselves—to be a super mom,
usually toggle between silence and
super wife and so on, and complicate
violence. “We are usually silent and
“I just had to tell them that they are
their life. It is okay to ask for help. If
don’t advocate for ourselves; but when
other Hasans and that I’m not the same
men have a problem, they share that
things go out of control, we lose our
as they are. I have always lived with this
with their friends and ask for advice. But
calm and explode. After we explode, we
comparison. They do what they do well
women feel uncomfortable in sharing
regret and once again become silent.
and I do what I do well,” said Anu.
and asking for help.” She batted for
There is no stage inbetween,” she said
women to network and reach out for
humorously.
support, especially in their professional 44
SEPTEMBER
2020
Hassan family?
Which country in her experience was difficult to advocate for India?
Business Mandate fountainhead of excellence
“South Eastern countries like
What words of wisdom will the
can’t be influenced by us, takes a long
Bangladesh were very difficult to deal
panellists share with their 25 yearold
time to realise. Internalising this fact
with; in spite of our similarities, they are
self on how to cope with an
and working on things that I can control
very different from us,” replied Kamini.
unprecedented situation, if they were to
has helped me to reduce my stress,”
meet them?
responded Wilfried Aulbur.
The theme of Special SessionII
“In any situation, we can only tackle
Wilfried also said that focussing on
day by day. When we take one step at a
a large goal makes us stressed. Instead,
time,
be
we should break that goal into small
While the pandemic has disrupted
conquered. Everyone has their quota of
achievable steps. On managing stress
life as we know it, many of us are
stress. Even a KG child has its own
during Covid times, he advocated for
struggling to come to terms with the
challenges. Tools like Mindfulness and
‘small victories.’ This is an ideal
new reality. This session provided
SelfAwareness can help us maintain the
opportunity for us to spend time with
practical tips to manage stress and
right perspective,” opined Vani Kola.
our family members and we should
reduce its impact. It touched upon:
She added that ‘fear of something, at a
make good use of it. “Do some exercise;
Finding opportunities for self
particular moment’ is what causes
learn some new skill. Each small victory
care
stress. Later on, the situation passes and
will boost your confidence,” he said.
was “Managing Stress in next normal”
• •
Practicing
patience
and
compassion on yourself and Practical
mountains
can
fear too may go away. “In my younger days, financial
others •
most
tips
for
your
wellbeing Ms Shvetha Jaishankar, former moderated
the
panel
discussion. The other speakers on the panel were: •
Dr Ranjini Manian, Founder Chairperson,
Global
Adjustments Foundation •
Ms Vani Kola, Founder & MD, Kalaari Capital
•
Mr
Wilfried
Aulbur,
Sr
Partner and Global Head, Roland Berger and Former MD, Mercedes Benz India Ranjini Manian took the online participants through a short guided mindfulness meditation.
load in the current WFH scenario?
security was my biggest worry.
“If you leave out the large cashrich
Understanding that only certain things
companies, in most other cases, there
are in our control and a lot many factors
are paycuts and job losses. This leads
Femina Miss India International and Author,
How can women balance their work
to a lot of financial stress at home. We
"There are so many expectations from women today. They must be bold enough to tell others in their family, office or social circles that they can do only what they can do."
may not have power over the problems
~ Vani Kola
compromise on their ‘MeTime,’ she
that cause the stress but we have control over the solutions. There are so many expectations from women today. They must be bold enough to tell others in their family, office or social circles that they can do only what they can do,” replied Vani Kola. Women should not advocated. Wilfried suggested that employers should create an environment where their employees do not end up with burnout syndrome. They should give SEPTEMBER
2020
45
Business Mandate fountainhead of excellence
an opportunity for the employees to
listed:
1.
Get your priorities right.
2.
Sometimes bad things happen to good people. You must understand that such things are driven by the environment. Therefore, you need resilience.
3.
This is not going to be the last crisis that we all will face. Many more will follow. The economic impact of Covid is going to be larger than what we face today. We need to take this as a warning shot to reevaluate our life. Shvetha Jaishankar said that her
kids are under the age of six. “I tell them
“Remember, we are not ‘Human Doings’ but we are ‘Human Beings.’ So be calm, he happy and be peaceful, to be stress‐free." ~ Ranjini Manian
about the importance of grandparents. I take them through a simple meditation routine, which we do as a family. But for this pandemic, I wouldn’t have initiated my children into this practice and perhaps would have postponed the idea. I play them images of beautiful
come out unscathed from this serious,
1.
pandemic situation and with as less impact as possible. Bringing out the commonality
2.
There must be caution but it
pictures depict. But children intuitively
Value small things in life and
3.
about this experience? Vani replied that it depends on the age of the children. “Mine are young adults. I tell them the below,” she 2020
4.
gravitate towards natural beauty and I can see them relaxed,” she said. Ranjini Manian cautioned that we
them.
can’t just keep on doing things.
Be sensitive to others and check
“Remember, we are not ‘Human Doings’
in on them, so as to have better
but we are ‘Human Beings.’ So be calm,
relationship.
What should we teach our children
SEPTEMBER
don’t know many of the places these
week my gratitude journal with
for women.
46
which will affect your life.
have gratitude. I share once a
Shvetha Jaishankar hoped that this in generating more ‘Leadership Roles’
landscapes from around the world. I
must be balanced.
between what Vani and Wilfred shared, Covid19 will lead to a ‘Quality shift’ and
Don’t entertain fear and doubt
If you can put things in a broader perspective, the here and now of the situations diminishes in gravitas. Wilfried suggested the below as
advice for children:
be happy and be peaceful, to be stress free. For everyone, BE is important,” she said and explained the acronym BE—B stands for Begin the day with meditation and E for End the day with a gratitude journal.
Business Mandate fountainhead of excellence
RAMYAA RAMESH
with the confidence her superiors vested in her, she began to chase her dreams.
G
Today her ability, her capacity to face all problems with ayathri
Suresh
is
the
quintessential
determination and her courage has helped Gayathri Suresh
entrepreneur, a woman who refused to stay
forge ahead in her field. She shares her mantra for success
confined within the secure portals of a well
—from her educational beginnings to her present achieve
paying job. A chartered accountant by profession, she ran
ments.
through an entire gamut of jobs as she moved from Audit to FMCG, IT, and Banking, finally finding her niche in a start
If becoming a chartered accountant was a career
up—a professional journey that spanned over 26 years. She
goal from the beginning, how did you prepare for it?
always knew that she wanted to do something exciting, and
I completed my B.Com from Ethiraj College and then decided SEPTEMBER
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Business Mandate fountainhead of excellence
to do my Chartered Accountancy. I completed my articleship
different problems and solutions; in the process, you have
with PriceWaterhouse. I passed my CA exams in my very first
exposure to varied issues. It is this that made my career choice
attempt in 1990 and plunged immediately into my career as
exciting to me.
a Chartered Accountant. What was your first job? As I had completed my articleship with PWC, I automatically chose to continue working there once I had become a full fledged Chartered Accountant. What inspired you into taking on a career in the world of finance? My uncle was a Chartered Accountant in Hindustan Unilever, Mumbai, in the 70s, and I was quite inspired by him and
I thrive on instability and chaos. I had the role of management accounting in Pond’s where I came into contact with different businesses. I worked in various businesses in Pond’s, including at Ootacamund. All this added to my varied experiences, helping me learn about different businesses across a crosssection of industries. I had similar exposure in my stint with HUL. I was part of the export division—rice, dalda, carpets and marine businesses (fisheries)—all these greatly added to my knowledge. I could say that all this led to a process of selfrealization. I discovered that I loved getting into the details of the business more than the finance of it!
choose to follow in his footsteps. CA became my chosen profession. Would you give us more insight into your career progression? My time at PwC was a ‘beauty of routine’. The multinational environment was a drastic change in culture and initially ‘lots of fun’. PwC was given the task of looking into different scams, specifically the Harshad Mehta scam in 1992. I was part of the
A break in an individual’s career is her choice, but before taking a break, she has to be very clear on the reasons for the break. She must ask herself why she needs to take the break and the length of time that would make it meaningful.
scam audit team and it taught me many lessons. But while my experience at PwC was extremely enriching, I slowly stopped enjoying the routine of my job. I had two requirements at that point in my life—I wanted to work in Chennai and I wanted a job which will excite me. In 1993, I got both my wishes. My uncle suggested that I
Then in 2002 a major turn came in my career. Due to personal reasons, I decided to move to a young and emerging sector. I took up the role of Head of Legal, Secretarial and Investor Relations in SIFY, a rapidly growing Internet service provider.
apply to Pond’s which was headquartered in Chennai at that point of time and I got that job. Moving from PwC, which is
What made you take a decision to move from
an auditing firm, to a multinational company was invigorating
Management Audit to Legal, Secretarial and
to say the least. It was a total cultural change but I adjusted
Investor Relations?
to the change very easily. In 1998, Ponds merged with Hindustan Unilever Ltd (HUL) and I suddenly found myself as a part of a larger corporate organization. I always felt that Audit is a field where you come across 48
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Honestly, I went to the interview thinking I was giving an interview for General Manager Finance. The panel of interviewers felt that I would be an asset to the company in the role of Legal, Secretarial and Investor Relations. They
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seemed very confident that I could do the work very well. I love to be challenged into learning something new. It was all so exciting to me. So I decided to make this career change into a new field and try this new job. I always believe that no matter what I do, I need to give my best. Trust me, the threeanda half years that I worked at SIFY were the great years of my professional life! The crowd there was very young and I had the pleasure of doing something exciting every year. Unfortunately, in 2006, when the management started to leave the company, I decided to do the same. During this time, a colleague of mine referred me to Standard Chartered Bank. It was destiny. I joined Standard Chartered’s BPO as Financial Controller. The CEO during my interview had mentioned that I would get an opportunity as CFO after three years, but I never thought much about it. During 2010, there was an internal job watch position of CFO. I did not give it much thought and continued with my work. My functional boss in Singapore insisted that I apply for this role and I did. I became the CFO of Standard Chartered Scope International in 2010. I later on became the Global CFO in 2012, taking care of Malaysia and China. The company continued to grow and the head count increased to15,000; this was when I had the opportunity to be in the management committee since in 2010 and a part of this exciting journey. I would attribute a lot of my successes
Yes, elderly care was a passion that I shared with two of my
to having had the best of bosses—bosses who had faith in me
friends. I had seen firsthand the struggles the elderly face and
and made me want to excel. 2016 brought in some more
how dependant they become as they age. This led to the birth
changes. The demands of my personal life were also changing
of Sakhi4life in 2019. My personal life was now stable and we
—my mother passed away and my motherinlaw was
decided to start a new venture in 2019. It is still young, but
diagnosed with lung cancer. My priorities were very clear and,
has started off very well and is growing.
in 2016, I decided to quit my job with the bank and take charge of home matters for the next three years. So the startup company the next big change in your career?
Sakhi4 is a venture which focuses on the older generation? What made you start something so uniquely different? I have always grown up around elderly people, whether it was my grandparents, parents, inlaws, uncles or aunts. I
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even one woman is extremely fulfilling. Your career has been long and diverse. Would you have done anything differently? Changed anything? Not at all! My career has been varied, and I have had the pleasure of working with different industries and different people. I would not change a single thing! What do you think are the major hurdles for women to reach their full potential? Women should think ‘We can do it.’ If a woman has any questions or doubts, she must ask for clarification, or people will assume that she does not need it. If a woman has any found my loved ones who had been so full of energy and life
requirement, she must put it forward even if it means she does
in their younger days growing quite helpless as they became
not get what she has asked for.
older. They literally stopped socializing after a point of time. I had to face the fact that as my parents grow older, they need us more and more. We founded Sakhi4Life to provide support and companionship for aging parents, a way by which we spend time with them. You have seen so much in your career. What do you think is your most valued achievement? The mentorship program for women managers during my Standard Chartered days, of course! In the management team I was at times the sole lady but also the senior most. An added advantage was that I was part of the Prevention of Sexual Harassment Committee for four years, from 2012 to 2016. This made the women in my organization trust the system and talk about their problems at workplace.
woman was by itself a vindication to me. Harassment at work is a big issue and to be able to make a difference in the life of SEPTEMBER
I did not have family support for oneandhalf years, but I got a lot of help from others around me. It is very important to assign tasks and get the work done. Balancing work and personal life will then become very easy if women learn to ask for help. What is your advice for women who want to take a career break and also to those who want to come back after a career break? A break in an individual’s career is her choice, but before taking a break, she has to be very clear on the reasons for the break. She must ask herself why she needs to take the break and the length of time that would make it meaningful. Therefore, before taking the break, clarity of thought is very essential and a plan for getting back to her career should
To be able to prove the allegations and provide justice to
50
Be open about talking to others.
2020
also be in place. It is very important that she realizes that she should not go back to the same role that she was not happy with before the break.
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her break, read up on current changes that are happening—it does not mean current events, but changes that are happening in her own field of expertise. When questions are asked during the interview, she needs to have the right answer. So, she needs to equip herself very intelligently. How is the next few decades going to be for you? I want to concentrate on the new venture. I want to make Sakhi4life commercially viable and not be seen as an NGO. I want people to understand the concept. I want this to become an industry by itself. Old people should get the best of both worlds, and I want to be a part of this drive. After I achieve this in Chennai, I want to expand. Go beyond Chennai. Move into towns and cities where we are needed. But we first need to make this concept successful. How does she equip herself to move to a different path in her career?
Ramyaa Ramesh, author, had interviewed Gayathri Suresh for this series.
The secret is to keep learning. She must do a course during
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need to address for continuity and sustainability: 1. The leadership walk‐the‐talk role model Leaders have to fold up their sleeves and be there. They must insist on alacrity in execution to ensure business continuity, while showing empathy in employee related issues. Employee concerns must be addressed with understanding to make them feel reassured, that they are taken care of. A leading Indian company dealing in paints, varnishes and coatings has taken a contrarian view by increasing the pay for their employees in a gesture to boost confidence and morale. “We are not in the hireandfire business, and as a mature brand, have reassured employees that we are all together in this“, the MD stated. 2. Leverage technology, particularly digitalisation I read with interest a caption in front of a leading PSU bank—Corona Se Daro Na, Digital Karo Na! Virtual is the new reality. A leading manufacturer of lead acid batteries connects with all its 15,000+ employees dispersed across the (This is the second and concluding part of the article focussing on responding to challenges posed by COVID.)
T
he crisis caused by COVID19 is
deeply
unsettling,
particularly to businesses.
Entrepreneurs and corporates have to 52
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ensure business continuity even as
shopfloor, sales and service outlets, and
reports suggest that about 50% of the
the corporate office through the digital
businesses are not certain about staying
platform. Throughout 2019 we grappled
afloat beyond the next 23 Quarters. In
with disruption ushered in by the need
the previous article, we looked at six
to digitise, and now we are happily
major focus areas to bring business and
embracing this technology. Going digital
the organisation back on track. Here are
is the right way to integrate and
the next six key areas that businesses
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harmonise business processes, bringing
across the country have moved to the
made available to assist employees
all employees, vendors, suppliers,
workfromhome model to keep services
address burnouts. More than ever,
contractors,
other
uninterrupted during the lockdown.
Employee Assistance Programs are
stakeholders onto one platform. To
Experts say some companies are likely
making a lot more sense in today’s
quote
company:
to move to WFH permanently. A recent
times, and they are here to stay too.
“Workplaces need to become a platform
Gartner survey of over 300 CXOs
for employees, individual contributors,
projected that 5% of workforce will
4. Social and community connect: Key
managers, leaders, and business heads
become permanent WFH employees
element in business sustainability
to do what they need to do with a suite
after the pandemic.
There is a need to look far beyond CSR.
a
bankers Tata
and
Group
of products, providing tools for induction, learning, collaboration, or experimenting something new, available 24/7, all at one place.”
It is reported that of this WFH workforce in India, about 2.5 million are women. There are about 70 lakh employable women waiting on the wings. The number of applications from women job seekers rose to 50% in
According to Indian press reports, about two‐thirds of the 4.3 million IT‐ITES workforce across the country have moved to the work‐from‐home model
March 2020 compared to a month earlier, according to a report.
A suitable business will continue on for decades. It is very important, therefore, that a business is run on sound ethical, economic/financial, managerial and humane
principles
and
values.
Businesses have to be inclusive, collaborative and responsible. The triple bottomline—Profits, People & Planet —is now recognised as a means of
CEOs and HR heads say the current
measuring
responsible
corporate
workfromhome environment, which
performance.
saves cost and enhances productivity,
capitalism
could turn into a level playing field for
companies have to devise their CSR
women who have been making career
policies around social themes with
compromises due to child care, elder
maximum impact and highest relevance.
care, and other familial commitments.
Public gaze and attention is getting
But WFH has its downside as well:
closer and critical, and social media is
3. Work from home ﴾WFH﴿ is here to
social distancing, social isolation, stress
playing a pronounced role in reach and
stay!
and anxiety to overdeliver in a bid to
speed of access to information.
Rather than wishing WFH away, it is
preserve one’s job; unstructured,
Businesses must therefore exercise a
prudent to accept this as the new norm.
unscheduled and long hours of work;
heightened sensitivity and sharpened
Many top technologydriven companies
lack
from
surveillance to respond to emergencies
have decided to adopt WFH as a
subordinates; selfregulation and sub
and crisis with agility, empathy and a
permanent mode of work. An Indian IT
optimal productivity. The line between
practical approach. In these COVID
bellwether has referred WFH as
worklife and familylife is blurring.
times, outreach initiatives, CSR, and
Borderless Workplaces. According to
Companies
instituting
Community Connect programs of
Indian press reports, about twothirds
measures to monitor login and logout
companies have to add significant value
of the 4.3 million ITITES workforce
times; productivity metrics are also
to supplement the efforts of local
of
accountability
are
now
With
stakeholder
becoming
mainstay,
showing up positively, and help lines are SEPTEMBER
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Business Mandate fountainhead of excellence
governments. Businesses must cocreate
5. Human resource management:
6. Way forward
new relationships and linkages with
Warriors and saviours
The Chairman of a business group that
society and community. Continuous
The HR function in these times has
I worked with often used to say that
traction
through
come out shining, and is at the centre of
even a CEO will not have all the answers
monitoring, dipstick and finetuning of
enabling organisations manage the
all the time. Therefore,
communityconnect programs and
complexity due to pandemic, and to
schemes.
ensure business continuity. The HR
collaborative
approach
function has demonstrated the skillset
needed
harness
of a saviour and the attitude of the
collective wisdom in the
warrior, as a professional colleague puts
organisation;
is
necessary
Another critical factor is that migrant labour has a large share in contract employment in every state of the country. This is a very highimpact challenge for companies that are helplessly dependant on contract labour for their daytoday operations. And, this is not confined only to the manufacturing sector. IT and services sector also has large numbers in their workforce. There are a few lessons to take away from good practices, such as the one adopted by a leading OEM
it. HR has ushered in the quick adoption of
companywide
learning
•
•
Employee
is the
we have to read all the signs, signals
and
undoubtedly the data, to make sense of what needs to be
platforms; accelerating the digitisation instituting
to
trends,
and
development initiatives through e mission;
an inclusive, involved and
done; •
we must focus on less in order
Assistance Programs and helplines for
to get more impact on the
employees to connect; institutionalising
ground;
programs for health, safety and
•
we
must
keep
everyone
engaged and focussed in order
wellbeing; and facilitating quick
to find new directions and
embrace of WFH.
frontiers;
manufacturer in South India. From the
Going forward, the role and scope
beginning, they have pursued a policy of
of HR function is bound to change for
employing local labour for all their
the better. Areas of focus for the HR
To quote Rahm Emanuel: “You
operations. They encourage a ‘sons of
leader in the emerging times will be
never let a serious crisis go to waste.
soil’ policy and have invested in
—Bringing in organisation culture and
And what I mean by that is it's an
identifying the right talent and trained
values; capability building; change
opportunity to do things you think you
them adequately in all the required
management; organisation and work re
could not do before. Let’s make the best
vocational trades. As a result they have
design; adapting/accepting the gig
of this crisis".
not had to face the agony that every
economy model for workforce planning;
other employer encounters with the
increasing participation of women in
migrant labour returning to their home
employment; increasing exposure to
states, giving rise to a vacuum. An
shared services model (which is set to
inclusive and collaborative approach,
grow due to cost, efficiency and
which is overarching and longterm, is
productivity norms getting redefined);
required in workforce planning of the
adopting digitisation in all HR
enterprise.
processes; and HR analytics.
54
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•
pivotal thinking will lead us to new possibilities.
(Author is a class‐topper from the 1979 batch of Tata Institute of Social Sciences, Mumbai, and a Senior HR Professional with over 40 years’ corporate, consulting, mentoring and teaching experience. He can be reached at ‐ beelinehr@gmail.com)
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