TQM
TOP OF THE RANGE MBA Programmes Worldwide
Top masters in management programmes 2007
1. HEC Paris
2. Cems
3. London School of Economics and Political Science
4. ESCP-EAP European School of Management
5. Essec Business School
6. EM Lyon
7. Grenoble Graduate School of Business
8. Audencia
9. Stockholm School of Economics
10. RSM Erasmus Univeristy
Top executive education custom programmes 2007
1. Duke Corporate Education
2. IMD
3, Harvard Business School
4. Iese Business School
5. Babson Executive Education
6. University of Chicago GSB
7. Columbia Business School
8. Thunderbird School of Global Management
9. MIT: Sloan
10.Ashridge
Top executive education open programmes 2007
1. Harvard Business School
2. Stanford University GSB
3. University of Virginia: Darden
4. University of Chicago GSB
5. IMD
6. Center for Creative Leadership
7. Instituto de Empresa
9. Iese Business School
9. Northwestern University: Kellogg
10.Babson Executive Education
Top MBA programmes 2007
1. University of Pennsylvania: Wharton
2. Columbia Business School
3. Harvard Business School;
4. Stanford University GSB
5. London Business School
6. University of Chicago GSB
7. Insead
8. New York University: Stern
9. Dartmouth College: Tuck
10. Yale School of Management
Top European Business Schools 2006
1. HEC Paris
2. London Business School
3. IMD
4. Instituto de Empresa
5. Iese Business School
6. ESCP-EAP
7. RSM Erasmus University
8. University of Bradford/TiasNimbas
9.Cranfield School of Management
10. Insead
Top EMBA programmes 2006
1. University of Pennsylvania: Wharton
2. Columbia/London Business School
3. Kellogg/Hong Kong UST Business School
4. Trium: HEC Paris/LSE/New York University: Stern
5. Instituto de Empresa
6. University of Chicago GSB
7. London Business School
8. Washington University: Olin
9. Duke University: Fuqua
10. Northwestern University: Kellogg
…World’s biggest mass healthcare provider by 2010

…World’s biggest mass healthcare provider by 2010
India is a unique country, no doubt. It produces the largest number of doctors in the world (30,000 medical seats), as well as the largest number of nurses (Bangalore alone has over 900 nursing schools and colleges) and medical technicians. Outside the US, India has the largest number of US FDA-approved pharma companies. With their current capacity, Indian companies can make medicines for the whole world, if they are allowed to. Of course, they are not allowed, but that is a different matter.
When it comes to providing healthcare services, India is not the world leader. Today, the largest number of procedures on the human body is done in the US. Of the 6.5 lakh heart surgeries done annually in the world, 4.5 lakh are done in the US. The rest of the world accounts for just 2 lakh heart operations.
India requires 2.5 million heart surgeries each year but only about 80,000 are done in the country annually. The numbers for other procedures are not greatly different.
So how is India going to bridge this gap in less than five years?
The biggest hurdle in the path of universal quality healthcare delivery in India is the inability of most people to pay for it. Of course, if the US did not have its health insurance programme, most Americans would not be able to afford even a toenail removal, forget about heart surgery. But because most developed countries have organised themselves well and have a functioning healthcare system financed by health insurance, most people can afford to pay.
Four years ago, Karnataka State Cooperative Society in association with Narayana Hrudayalaya started a Micro Health Insurance Programme called Yeshaswin. The insurance programme has proved that by just paying Rs 5 a month, millions of poor farmers can afford to undergo any surgery, including heart surgery, totally free. Today, four years after the scheme was launched, nearly 2.4 million farmers have already benefited and various versions of the Yeshaswini scheme have been launched in other states. One such scheme is Arogya Shree, launched by the Andhra Pradesh government, which sponsors all types of surgeries to BPL (below poverty line) cardholders in three districts of Andhra Pradesh.
West Bengal, too, has a novel health insurance scheme for approximately 4 lakh teachers working in village schools. Each teacher gets Rs 100 each month for health expenses, which is not enough to buy them even a course of antibiotics. Now, the West Bengal Education Department and the National Insurance Company have come together to offer a health insurance cover of up to Rs 1.6 lakh a month for a teacher’s entire family. All the teacher pays is Rs 100 a month. In just one move and without any additional expense, nearly 20 lakh working-class people have been covered for major medical treatment and surgeries.
A few days ago, my wife was walking by a mall where she saw a beggar begging with his face covered. Curious about why he had covered his face, she took a closer look and found him chatting on a mobile phone wile begging with the other hand.
India defies logic and beggars owning mobile phones is not uncommon. The country has effortlessly moved from having no phones to the most modern mobile phones, from no radio to colour televisions with over a hundred channels to choose from. Using technological and economic tools, the essentials of life such as quality healthcare should now be dissociated from affluence. Even a person who lives in slum should have access to high-tech healthcare, which should be within their grasp using a smart card.
Poor people are very weak by themselves, but emerge very strong together. Governments are the only organisations in the world that can do wonders by putting things in order without having to spend money. Micro Health Insurance is an excellent example of this. I strongly believe that the government will gradually become a health insurance provider rather than a healthcare provider. When this happens — and it will require a policy change — this country will become a wonderful place to live in.
( Dr Devi Shetty is Chairman, Narayana Hrudayalaya, Bangalore, and one of India’s most celebrated cardiac surgeons)
…Technology can transform our country

…Technology can transform our country ![]()
By Mukesh Ambani
India, a nation of a billion people, is well on the way to becoming one of the three largest economies of the world. But there is another reality. India’s average gross national income per capita at $750 is nearly 20 per cent lower than that across all 53 African nations.
There is, therefore an urgent need to bridge the chasm between India’s potential and its realisation. This is important not only for India; it is equally critical for the world. An Indian transformation will be the forerunner of a fundamental global change in terms of reducing regional disparity and, also, in transforming the quality of life of the people all over because one out of every six human beings on this planet lives in this country.
To realise this vision, India must do several things on a priority basis. However, on top of my agenda is the need to integrate technology with every aspect of our economy and make it a major tool of addressing our social problems.
Global economic superpowers are technology leaders. About 28 per cent of the GDP of USA is contributed by technology sectors. Extensive use of technology can bring about transformation in several spheres in India also. For example, technology can help improve agricultural productivity significantly. I am convinced that agriculture has the potential to re-emerge as a strong engine of economic growth and social development. Farmers in India are subject to the highest risks in the economy.
They face climatic uncertainties, have no dependable assurances about off-take of their output, get poor prices for produce, are subject to market manipulation, have to do with poor availability and poor quality of inputs and, above all, pay among the highest costs for private financing.
Unfortunately, they have to follow a model based on low value crops, low investments, low yields and low revenues. They use resources sub-optimally, whether it is land, water, crop nutrition and crop protection. This is an irony. Because India has the highest proportion of arable land, as compared to most countries, notably USA and China. Indeed more than 30 per cent of Asia’s irrigated land is in India.
India has the potential to enhance agricultural production by over ten times. Israel produces US $5.8 million in agriculture output per square kilometre of arable land. India produces just US $88,000.
The Economic Survey 2006-07 has enlisted some of the structural weaknesses of the agriculture sector which include exhaustion of the yield potential of new high-yielding varieties of wheat and rice, unbalanced fertilizer use, low seeds replacement rate and low yield per unit area across almost all crops. Agricultural growth has also suffered since rain-fed areas still constitute about 65 per cent of the total net sown area.
The same story is true for water. India uses only one-fourth of the 4,000 billion cubic metres of fresh water that is available each year. This is caused by topographical constraints, uneven distribution of water resources over space and time and low dam capacity. Water productivity in agriculture is only about one-fourteenth of the best in class.
We missed the industrial revolution and were left behind. Fortunately, we were able to catch up because independence from colonial rule was followed by establishment of institutions of higher learning which produced a large reservoir of skilled manpower.
Economic reform unshackled the entrepreneurial energies of our young generation and globalisation opened new vistas. We have to build further on this foundation and seize opportunities knocking at our doors.
We did a great job with the green revolution with high yielding hybrid crops. But since then, our technological progress in agriculture has been slow. We must ensure that India does not miss the biotechnology revolution in agriculture. Today, India needs to develop technology for crops that are drought resistant and saline tolerant.
Technology can also transform Indian society. It can help atomise power to the individual level. True power lies in the ability of every individual to influence and shape his or her destiny. The world, in my view, will move from power among groups to power within an individual. Technology will bring about this transformation. Technology can enable every individual to choose, communicate, collaborate and create.
Following dramatic technological revolution, every individual can have the power to tailor-make a product or select a service according to his or her choices and preferences — whether it is an automobile, a hotel room ambience or a cloned pet. Every individual can have the power to communicate with every other individual in the world wherever, whenever and by any mode.
Every individual can have the ability to collaborate and engage on individual or group activities with anyone else in the world. Every individual can have the ability to create or produce most products or services.
Man’s expedition to new frontiers is eternal. The quest to gain new insights is infectious. Such infective inquisitiveness can be increased by extensive education, awareness and earnings, specially by lifting those at the bottom of the pyramid. There are many frontiers barely explored — the ability to alter the form, duration and quality of life, the untapped power of the mind, the mysteries of the universe and the secrets of ocean depths. Technology can help India and Indians seek new frontiers.
India has the necessary ingredients to become a technology-enabled country. It has a critical mass of educated and skilled young men and women, some of the world’s best institutions for study of science and technology, and the productive energies of a vibrant private sector. We need to scale up these endowments and give our people and our institutions the freedom to rise to global heights.
India must focus on a defining set of transformational technologies. To my mind, special focus is needed in areas of modern medicine, alternate energy, networked communications, public transportation, performance materials, biotechnology, nanotechnology, robotics and automation and aerospace.
Many technologies in the developed world have emerged from the private sector. These have been facilitated by sizeable public funding for research, surpluses from traditional businesses of large corporations, protection for intellectual capital, vibrant venture capital participation, competitive market place and, above all, a demanding environment for academic researchers.
Locations of centres of innovation in the private sector, higher public spend on research and pursuit of research by leading companies will bring about greater innovation in India.
India must be an innovation powerhouse if it wishes to be a global economic power. India must place technology in the highest quadrant of her development agenda.
(Mukesh Ambani is Chairman and Managing Director, Reliance Industries Limited)
Do you keep delaying things? Eat that frog!

Do you keep delaying things? Eat that frog!
Brian Tracy
There is one quality that one must possess to win, and that is definiteness of purpose, the knowledge of what one wants and a burning desire to achieve it.
Napoleon Hill
Before you can determine your “frog” and get on with the job of eating it, you have to decide exactly what you want to achieve in each area of your life. Clarity is perhaps the most important concept in personal productivity. The number one reason why some people get more work done faster is because they are absolutely clear about their goals and objectives, and they don’t deviate from the.
The greater clarity you have regarding what you want and the steps you will have to take to achieve it, the easier it will be for you to overcome procrastination, eat your frog, and complete the task before you.
A major reason for procrastination and lack of motivation is vagueness, confusion, and fuzzy-mindedness about what you are trying to do and in what order and for what reason. You must avoid this common condition with all your strength by striving for ever greater clarity in your major goals and tasks.
Here is a great rule for success: Think on paper
Only about 3 per cent of adults have clear, written goals. These people accomplish five and ten times as much as people of equal or better education and ability but who, for whatever reason, have never taken the time to write out exactly what they want.
There is a powerful formula for setting and achieving goals that you can use for the rest of your life. It consists of seven simple steps. Any one of these steps can double and triple your productivity if you are not currently using it. Many of my graduates have increased their incomes dramatically in a matter of a few years, o even a few months, with this simple, seven-part method.
Step one: Decide exactly what you want. Either decide for yourself or sit down with your boss and discuss your goals and objective until you are crystal clear about what is expected of you and in what order of priority. It is amazing how many people are working away, day after day, on low-value tasks because they have not had this critical discussion with their managers.
One of the very worst uses of time is to do something very well that need not be done at all.
Stephen Covey says, “Before you begin scrambling up the ladder of success, make sure that it is leaning against the right building.”
Step two: Write it down. Think on paper. When you write down a goal, you crystallize it and give it tangible form. You create something that you can touch and see. On the other hand, a goal or objective that is not in writing is merely a wish or a fantasy. It has no energy behind it. Unwritten goals lead to confusion, vagueness, misdirection, and numerous mistakes.
Step three: Set a deadline on your goal; set subdeadlines if necessary. A goal or decision without a deadline has no urgency. It has no real beginning or end. Without a define deadline accompanied by the assignment or acceptance of specific responsibilities for completion, you will naturally procrastinate and get very little done.
Step four: Make a list of everything that you can think of that you are going to have to do to achieve your goal. As you think of new activities, add them to your list. Keep building your list until it is complete. A list gives you a visual picture of the larger task or objective. It gives you a track to run on. It dramatically increases the likelihood that you will achieve your goal as you have defined it and on schedule.
Step five: Organize the list into a plan. Organize your list by priority and sequence. Take a few minutes to decide what you need to do first and what you can do later. Decide what has to be done before something else and what need to be done afterward. Even better, lay out your plan visually in the form of a series of boxes and circles on a sheet of paper, with lies and arrows showing the relationship of each task to each other task.
You’ll be amazed at how much easier it is to achieve your goal when you break it down into individual tasks.
With a written goal and an organized plan of action, you will be far more productive and efficient than people who are carrying their goals around in their minds.
Step six: Take action on your plan immediately. Do something. Do anything. An average plan vigorously executive is far better than a brilliant plan on which nothing is done. For you to achieve any kind of success, execution is everything.
Step seven: Resolve to do something every single day that moves you toward your major goal. Build this activity into your daily schedule. You may decide to read a specific number of pages on a key subject. You may call on a specific period of physical exercise. You may learn a certain number of new words in a foreign language. Whatever it is, you must never miss a day.
Keep pushing forward. One you start moving, keep moving. Don’t stop. This decision, this discipline alone, can dramatically increase your speed of goal accomplishment and boost your personal productivity.
The Power of Written Goals
Clear written goals have a wonderful effect on your thinking. They motivate you and galvanize you into action. They stimulate your creativity, release your energy, and help you to overcome procrastination as much as any other factor.
Goals are the fuel in the furnace of achievement. The bigger your goals and the clearer they are, the more excided you become about achieving them. The more you think about your goals, the greater become your inner drive and desire to accomplish them.
Think about your goals and review them daily. Every morning when you begin, take action on the most important task you can accomplish to achieve your most important goal at the moment.
EAT THE FROG
Take a clean sheet of appear right now and make a list of 10 goals you want to accomplish in the next year. Write your goals as though a year has already passed and they are now a reality.
Use the present tense, positive voice, and first period on so that they are immediately accepted by your subconscious mind. For example, you could write. “I earn x number of dollars per year” or “I weight x number of pounds” or “I drive such and such a car.”
Review your list of 10 goals and select the one goal that, if you achieved it, would have the greatest positive impact on your lie. Whatever that goal is, write it on a separate sheet of paper, set a deadline, make a plan, take action on your plan, and then do something every single day that moves you toward that goal. This exercise alone could change your life!
Excerpted from:
Eat That Frog! by Brian Tracy.
Copyright 2007 by Brian Tracy. Price: Rs 150. Reprinted by permission of Tata McGraw Hill Publishing Company Limited. All rights reserved.
Brian Tracy is one of America’s leading authorities on the development of human potential and personal effectiveness. Eat That Frog! is an international bestseller and sold more than 500,000 copies.
Want to succeed? Avoid these 9 traps

Want to succeed? Avoid these 9 traps
Robert J Herbold
Success leads to the damaging behaviors of a lack of urgency, a proud and protective attitude, and entitlement thinking. This leads to the tendency to institutionalize legacy thinking and practices. Essentially, you believe that what enabled you to become successful will enable you to be successful forever.
After reviewing this problem in many companies, I believe there are nine dangerous traps into which successful people and organizations often stumble.
Trap 1: NEGLECT
Sticking with Yesterday’s Business Model
By business model, I mean what you do and how you do it. It includes such issues as deciding what industry you will be competing in and what approaches you will use in carrying out all the processes necessary to compete in that industry. Will we manufacture something or contract it out? How will we sell our products or services?
Do we go through retail channels? How should we organize our sales force? Which segments of the industry do we want to ignore, and which do we want to compete in? What is the structure of our support staff? Which parts of the organization do we out source? What are our approaches to distribution and inventory management? What are the cost targets of the various components of the organization, like information technology costs and human resources costs? Does our model leave us satisfied with our gross margins, profit margins, and other such figures?
Organizations should be consistently reviewing all aspects of their business model, looking for areas that are weak and need to be overhauled. By weak, we mean out of date, too costly, too slow, or not flexible. In which areas of the business model are you at parity? In those areas, are there any bright ideas on how to achieve a competitive advantage?
TRAP 2: PRIDE
Allowing Your Products to Become Outdated
You may be super proud of your product or service today, but you have to assume that it is going to become inferior to the competition very soon. You need to hustle ad beat your competition to that better mousetrap, and you need to do it over and over.
The amazing thing about success is that it leads to a subconscious entitlement mentality that cause you to believe that you no longer need to do all the dirty work of getting out and studying consumer behavior in details, analyzing different sales approaches, jumping on the latest technology to generate improved products, and everything else that is required to stay ahead. The attitude is often one of believing that you have done all of that and have figured it out, and now things are going to be fine.
Until the early 1970s, typewriters were used to prepare documents. The IBM Selectric model was the standard. Then along came Wang Laboratories’ word processor in 1976, providing a completely new approach. It displayed text on a cathode ray tube (CRT) screen that was connected to a central processing unit (CPU). In fact, you could connect many such screens to that CPU in order to handle many different users. Wang’s device incorporated virtually every fundamental characteristic of word processors as we know them today, and the phrase word processor rapidly came to refer to CRT-based Wang machines. Then, in the early to mid-1980s, the personal computer emerged. Wang saw it coming but made no attempt to modify its software for a personal computer. PC-based word processors like WordPerfect and Microsoft Word became the rage, and Wang died. Wang fell into the trap of not updating its products, even though it basically invented the word processor industry.
We saw this behavior very clearly with the General Motors example. Its cars, while highly distinctive back in the 1970s, were allowed over time to look more and more alike, and the excitement factor for the customer disappeared.
TRAP 3: BOREDOM
Clinging to Your Once-Successful Branding after It Becomes Stale and Dull
Constantly achieving uniquencss and distinctiveness for a brand and also keeping it fresh and contemporary is hard work. Once a brand achieves some success, the tendency is to sit back and pat yourself on the back, allowing your brand to become dull and ordinary.
The Plymouth automobile was introduced by Chrysler for the 1928 model year as a direct competitor to Ford and Chevrolet. It was a sturdy and durable car that attracted a legion of loyal owners. Plymouth became one of the low-priced three from Detroit and was usually number three in sales, just behind Ford and Chevrolet. For almost two decades, Plymouth sold almost 750,000 cars per year and had a solid brand reputation in the low price range of being reliable but having a bit more flair than Chevrolet or Ford. Older readers may remember the 1957 Plymouth with the huge fins, as well as its Road Runner (beep beep!) model. Plymouth had a very clear brand positioning.
In the 1960s, the Plymouth brand began to lose its uniqueness. Chrysler decided to reposition the Dodge, reducing its price so that it was quite close to Plymouth’s. Chrysler came out with low-priced compact and intermediate-size models under both the Plymouth trademark and the Dodge trademark. By 1982, Dodge, was outselling Plymouth. Throughout the late 1980s and the 1990s, Plymouth offered nothing unique. Sales continued to decline, while Dodge was quite healthy. In 1999 Chrysler announced that the Plymouth brand would be discontinued. The lesson is simple: when you allow brands to get stale, they die.
TRAP 4: COMPLEXITY
Ignoring Your Business Processes as They Become Cumbersome and Complicated
Successful organizations often reward themselves by adding more and more people and allowing processes to become fragmented and nonstandardized. This is often done under banner of refining the management of the business. It is also caused by business units and subsidiaries seeking more autonomy, which leads them to develop their own processes and staff resources. Before you know it, getting any kind of change made is very complicated.
Over and over again you read stories about organizations experiencing weak financial results, then finally coming to grips with the problem, laying off thousands of people and simplifying the organization.
We saw in our Toyota case study how aggressive that company is at constantly improving each and every process. Keeping that mindset of constant improvement is very difficult. Success usually leads to a decrease in the intensity with which you tackle such challenges. Also, success leads to a belief that since we are doing so well, we probably need to reward the people in the organization who are asking for their own building and lots of extra people to get them to the next level. Importunely, all those extra costs often lead to bloated processes and further fragmentation of how work gets done.
TRAP 5: BLOAT
Rationalizing Your Loss of Speed and Agility
Successful organisations and individuals tend to crate complexity. They hire a lot of extra people, since clearly things are going well, and those people find things to do, often creating layers of bureaucracy, duplicating capabilities that already exist in the organization, and making it very hard to react quickly to change.
Getting an organization to constantly think about retaining simplicity and flexibility is not easy. The account given in the previous chapter of Toyota’s Global Body Line is a good example of doing it right. Toyota thought about agility ahead of time, and when it came time to build a brand-new car, such as the Prius, it didn’t have to build a new plant or a new line. This enabled Toyota to get to market fast and save tens of millions of dollars compared with traditional approaches.
TRAP 6: MEDIOCRITY
Condoning Poor Performance and Letting Your Star Employees Languish
When organizations are successful, they have a tendency to stop doing the hard things, and dealing with poor performance is a really hard thing. It also becomes hard to move new people into existing jobs, because there is the burden of getting the new person up to speed and the perception that you are losing valuable expertise. Also, the really strong performers and to get ignored. Consequently, what happens in many successful organizations is that people are left in their jobs too long and poor performance is not dealt with as crisply as it should be. Unfortunately, this also leads to strong players not being constantly challenged.
Successful organizations are especially vulnerable to this trap, since companies that achieve success often have high morale and pride. And who wants to spoil the fun by dealing with the tough personnel issues, which is an onerous task for most managers? Any excuse to put it aside will be embraced.
TRAP 7: LETHARGY
Getting Lulled into a Culture of Comfort, Casualness, and Confidence
Success, and the resulting tendency to become complacent, often leads organizations and individuals to believe that they are very talented, have figured things out, have the answers to all the questions, and no longer need to get their hands dirty in the trenches. They lose their sense of urgency � the feeling that trouble might be just around the corner.
Considering our case studies on GM and Toyota, the contrast between their cultures is really striking. GM seems to exude pride and an attitude of “we are the real pro in the industry,” while Toyota has a more humble personality that is all about constant improvement.
The leader of a group really sets the tone on this cultural complacency issue. The tendency is to become very proud of your success and protective of the approaches that got you there. It is those very tendencies that lead to an insular, confidence culture that makes people believe that they are on the wining team, while in reality, the world is probably passing them by.
TRAP 8: TIMIDITY
Not Confronting Turf Wars, Infighting, and Obstructionists
Success often leads to the hiring of too many people and the fragmentation of the organization. Business units and subsidiaries work hard to be as independent as possible, often creating groups that duplicate central resources. Staff groups fragment as similar groups emerge in the different business units. Before long, turf wars and infighting emerge, as who is responsible for what becomes vague.
Even worse, the culture gets very insular, with an excessive focus on things like who got promoted, why am I not getting rewarded properly, and a ton of other petty issues that sap the energy of the organization.
Another source of turf wars and infighting is lack of a clear direction for the organization and slow decision making on critical issues. When these kinds of management deficiencies occur, people are left to drift and end up pulling in different directions. That often leads to tremendous amounts of wasted time as groups argue to have it their way.
TRAP 9: CONFUSION
Unwittingly Providing Schizopherenic Communications
When an organization is success or stable, its managers often fall into the trap of not making it clear where the organization is going from there. Sometimes this is because they don’t know, but they don’t admit that, and they don’t try to get the company’s direction resolved. They do everything they can to keep all option open, with no clear effort to get decisions made and a plan developed. Such behaviors lead to speculation by the troops, based on comments that they pick up over time. Often those comments are offhand remarks that the leaders have not thought through. Or the troops hear conflicting statements coming form a variety of folks in leadership positions in the organization.
When employees receive confusing and conflicting messages and don’t have a clear picture of where the organization is gong or whether progress is being made, they feel vulnerable and get very protective of their current activities. In late 1991, IBM’s CEO,John Akes, announced that in the future, IBM would look more like a holding company and that “clearly it’s not to IBM’s advantage to be 100 per cent owners of each of IBM’s product lines.”
During the next 12 months, everybody was trying to figure out what he meant. And IBM made no attempt to start publishing separate financial information by product line in preparation for possible spin-offs. IBM also ignored Wall Street’s suggestion that it create separate financial entries, with their own stock exchange symbols, for the products that were to be spun off. Employees and investors were confused. The IBM board of directors finally ended the drama in early 1993, announcing that Akers was leaving and a new CEO would be hired quickly. From 1987 to 1993, IBM shareholders lost $77 billion of market value.
Communications from the head of the organization, be it a small group or an IBM, are critical. People want to know where they are headed and how things are going. When the words and actions don’t match, confusion reigns.
In the remaining parts of this book, I will discuss these traps in detail. In each part, I will give detailed examples of companies and individuals that in some cases have been hurt and in other cases have avoided these problems. My objective in each part is to provide specific actions that people can take to avoid the particular trap, or to rid themselves of the problem.
Excerpted from:
Seduced by Success by Robert J Herbold.
Copyright 2007 by Robert Herbold. Price: Rs 495. Reprinted by permission of Tata McGraw Hill Publishing Company Limited. All rights reserved.
Robert J Herbold was hired by Bill Gates to be chief operating officer of Microsoft Corporation. During his seven years as COO of 1994 to 2001, Microsoft experienced a four-fold increase in revenue and a seven-fold increase in profits.
Abu Dhabi Awards deadline extended – 4 more days to nominate
Abu Dhabi Awards deadline extended
By M. A. Qudoos (Deputy Bureau Chief) KHALEEJ TIMES 7 October 2007
ABU DHABI — The deadline for nominations to the Abu Dhabi Awards has been extended to October 14 in order to ensure participation of citizens and residents of the emirate of Abu Dhabi, including Al Ain and the Western region. This has been done keeping in mind the upcoming Eid holidays.
Through the Abu Dhabi Awards, local residents are encouraged to take advantage of the Eid holidays to honour those who have carried out deeds of exemplary kindness and generosity for the good of the emirate of Abu Dhabi.
Commenting on the event, Abu Dhabi Awards 2006 recipient Sana’a Darwish Al Kitby, who was honoured for her leadership role in the Red Crescent Society, said: “It only takes a few minutes to fill out a nomination form, but the impact it could have may be life-changing for the individual you are recognising. This is encouragement for them and others in our community to keep making a contribution.”
Statistics and credit bureaus soon

Challenge will be to ensure sustained non-inflationary growth.
Statistics and credit bureaus soon
By Saifur Rahman, Business News Editor GULF NEWS Published: October 09, 2007, 23:50
Dubai: The UAE will establish a National Bureau of Statistics (NBS) and a Federal Credit Bureau by the end of this year, the International Monetary Fund (IMF) said yesterday in its latest country report.
The move will be followed by several statistical surveys, currently in the preparatory stage, including a study on household income and expenditure in line with UAE’s efforts to formulate a consumer price index (CPI) to measure real inflation – one of the major woes impacting the lives of its more than 4.5 million residents.
The report, Article IV Consultation 2007 with the UAE, “welcomed the prep-arations to introduce a Value Added Tax (VAT) system at the federal level.”
“Efforts to address the weaknesses of economic statistics at the national level have intensified. Work is under way to improve consumer price data and to establish the NBS by end-2007,” said the report, a copy of which is in possession of Gulf News.
The UAE’s real GDP growth exceeded 9.4 per cent in 2006, with oil production rising by eight per cent and non-oil sectors growing at double-digit rates.
Dr Mohammad Al Asoomi, a UAE-based economist, said a high VAT could hurt the consumers.
“The authorities should introduce VAT from a low base and then gradually bring it up to the five per cent level,” he told Gulf News. “However, it should be a GCC-wide move and not an individual national move.”
Strong domestic demand and housing shortages have led to sharp rises in rents and contributed to upward pressure on other prices. As a result, the CPI inflation exceeded 9.3 per cent in 2006, the IMF said.
The IMF observed that although the assessment of inflation is complicated by data weaknesses, the rate of price increases, driven mainly by strong demand for housing, is too high.
“However, the anticipated reduction of capacity constraints – especially in the housing market – is likely to reduce inflation pressures over the medium term,” the report said.
“Fiscal policy could play a greater role in regulating domestic demand. In particular, expenditure increases – including by public and quasi-public entities – should be consistent with the country’s absorptive capacity. This, together with efforts to alleviate capacity constraints, would help subdue inflation and support a continued economic expansion with macroeconomic stability.”
Reflecting record oil prices, the overall fiscal and external current account surpluses remained large in 2006, and have allowed further accumulation of official foreign assets.
The medium-term outlook is very positive with real GDP growth projected to remain strong in 2007, and slightly decelerating thereafter due to temporary capacity constraints.
The fiscal and external accounts are projected to remain in large surplus. IMF agreed that “the key challenges will be to ensure sustained noninflationary growth and further diversification of the economy.”
Dollar peg
The IMF report agreed that the peg of the dirham to the US dollar has served the UAE well. “The exchange rate of the dirham is in line with fundamentals,” the report said, adding, “Further structural reforms would help to sustain the UAE’s competitiveness.”
The IMF appreciated the authorities’ commitment to work closely with other GCC member countries to a reach consensus on the appropriate future exchange rate regime to be adopted as part of the GCC currency union.
The IMF welcomed steps to enhance the supervision of capital markets and efforts to update the banking law and the company law.
“These steps would, inter alia, remove barriers to foreign participation in UAE markets and help protect shareholder rights,” the report said.
The IMF report called on the authorities to move ahead to enact the draft securities law, encourage the listing on the equity market of large quasi-public enterprises, and promote an increased role for institutional investors in the markets.
Ten Steps To Make Sure Your Sales Training Works!
Ten Steps To Make Sure Your Sales Training Works!
How do you make sure your salespeople are trained effectively and make it a meaningful learning experience for all concerned?
Think of the following elements as building blocks, as the ten keys to sales training success. They should be kept in mind when planning and implementing any sales training program that you run:
1. Comprehensive
2. Customised
3. Relevant
4. Performance oriented
5. Motivational
6. Modular
7. Easy to test and measure
8. Interactive
9. Cost effective
10. Embraced by top management
Block 1. Sales training should be comprehensive
It should provide, to the greatest extent possible, a total solution encompassing not only specific product sales-related courses, but it should also provide:
* An overall plan, based on broad, fundamental and explicitly stated goals. Obviously, you must think about what you want your salespeople to actually learn. However, try to think what kind of salespeople you want them to become through the training.
* Here are two examples:
– “Our salespeople will create the sort of buying experience that will encourage loyalty from our existing customers and increased purchase intention from our prospects”
– “Our salespeople will assume a more professional behaviour when addressing customer needs, thus creating higher levels of customer trust and confidence. The impact of this effort will be measured and monitored through our customer viewpoint surveys.”
* An assessment tool to ensure that salespeople who are enrolled in the program are properly placed. While the your overall recruiting process is the first screening mechanism for bringing people into sales, closer and more accurate evaluation provided within the sales training system could reveal that an individual is better suited to another staff position.
* A tracking system to monitor progress and measure post- training increases.
* A follow-up agenda to provide reinforcement, as well as additional mentoring and coaching, as needed.
* An ongoing plan for continued development, to ensure that all relevant additional or revised information about your products, marketplace, competition, etc. is quickly assimilated into learning for your salespeople.
Block 2 – Sales training should be customised
It should develop logically out of the dynamics of the specific sales environment in which your salespeople work. To accomplish this, all training should be designed to meet the unique requirements of your company. It should be carefully matched to individual needs, limitations and prerequisites.
Ask what the training programme will cover before your salesperson attends. Discuss the subjects with the salesperson to determine which sections will be most relevant and what questions need to be answered. Ensure the salesperson knows what the objectives of the training are, so that they can customise some of the materials to their own needs.
Block 3 – Sales training should be relevant
It should introduce opportunities for your salespeople to acquire and practice skills in a protected and supportive atmosphere that parallels their real world job responsibilities.
This means that case studies (customer scenarios) should be used extensively. Case studies should, of course, reflect realistic customer environments and interactions, including both successes and failures. If it’s a retail course, ensure the activities will assist your salespeople to develop the retail skills they need for your franchise. If it’s a business oriented course, find out what the activities will enable your salespeople to accomplish.
Block 4 – Sales training should be performance oriented
It should build “bridges” and connect to the real world:
* Before training, discuss with the salesperson how it will fit in with their job-related performance objectives. This should dictate the appropriateness of sales training content, learning activities, and instructional methodology.
* During training, get the salesperson to make sure they use structured techniques for applying knowledge through the use of skill-based practice activities, such as group discussions, planning exercises and role playing.
* After training, make sure salespeople are put in touch with relevant information sources, given job aids, provided with structured coaching/mentoring, taken on joint sales calls with more experienced personnel, etc. This ensures the application and transfer of knowledge and skills to the job.
Block 5 – Sales training should be motivational
All training should inspire enthusiasm by focusing on need-to- know information, presented in sufficient depth to impart both confidence and competence to the salesperson.
When presented in a workshop format, sales training should be conducted by dynamic, experienced facilitators who possess a dependable knowledge of the products or services being sold, a realistic and up-to-date understanding of the selling environment, and expertise in moderating learning sessions for adults.
In other words, good sales training recognises that time spent in training is time away from direct sales activities; therefore, it makes efficient and best use of sales people’s time and energy.
Block 6 – Sales training should be modular
All sales training should fit together and should be composed of stand-alone (although related) modules.
These allow your salespeople to complete only those portions of sales training that are most closely connected to their own specific requirements.
To minimise the time that salespeople will have to spend away from sales, training should be designed to be as concise as realistically feasible.
Block 7 – Sales training should be easy to test and measure
It should allow salespeople to “test out” the parts of the training that target information or skills they already have mastered.
It should also require them to complete only those portions of sales training related to their most pressing areas of need.
You can do this by checking what they learned during your review sessions with them, and then applying the follow up methods discussed in Block 1.
Block 8 – Sales training should be interactive
It should consist of workshops, seminars, peer discussion groups, and similar types of interactive activities that allow for the maximum exchange of ideas and sharing of experiences among participants.
Block 9 – Sales training should be cost effective
It should be designed to maximise the organisation’s investment in training, achieving your company’s key goals with the lowest possible cost per participant.
When calculating costs of training, preview what the salesperson will be able to do in, say, six months.
Then determine the costs of manufacturer training courses, coaching, mentoring, distance learning and other forms of development over that time period and equate the overall investment against desired returns.
That way, you can convince your boss that the training budget will be well spent.
Block 10 – Sales training should be embraced by top management
It should have solid management backing, in order to ensure that all learning ideas and principles are adequately supported.
Remember, salespeople will immediately know the real culture of the company if they are told that they are to go on a training course simply to ‘tick a box’.
Get the Manager to discuss with the salesperson what they learned on the course and how their development is important to the company.
It will only take a few minutes but will show how important the role of training is in the company.
Without this, the salesperson will have the belief that their development is not really important to you, and they are not worth investing in.
** The final cement mix **
These keys hold true regardless of who is providing sales training. Here are some percentages from Training Magazine detailing who is providing sales training in organisations with more than 100 employees:
– 24 percent of training provided by in-house staff only
– 14 percent of training provided by outside suppliers only
– 62 percent of training provided by both
So consider how you can give yourself the best possible opportunities to help your sales people’s development have a firm foundation.
These blocks should help you build a great team spirit and create a positive learning culture within your department.
Like always if you would like help on any aspect of your business please feel free to drop us a line with what you need help on and then my team and I can let you know what we could do for you.
All the best.
By Sreeram CA for CiteHR
All is not lost: 12 rules that can save you further losses
All is not lost: 12 rules that can save you further losses
With the markets sliding leaps and bounds, you need to keep your calm and find ways to cushion the free fall. In a book review of Zurich Axioms, our expert Kanu Doshi, talks about 12 strategies that can help you reduce your loss.
Reviewer’s Note:
The author (Max) son of a very wealthy Swiss citizen by name, Franz Heinrich, (whom Americans preferred to call Frank Henry), jotted down all the principles of speculation strategies, particularly in stocks, adopted by his father and his father’s several other Swiss friends to make large fortunes on the Wall Street in USA in roaring Eighties. Principles perfected by these Swiss gentlemen have therefore been called “Zurich Axioms” by Max.
Enumerated below are twelve major principles and sixteen minor ones with brief comments by Kanu Doshi on each of them:
First Major Axiom: On Risk
“Worry is not a sickness but sign of health. If you are not worried, you are not risking enough.”
Adventure is what makes life worth living. Every occupation has its aches and pains. The rich have to worry about their wealth. But, if there is a choice between remaining poor and worry-free, the selection is obvious. It is better to be wealthy and worried than to be worry-free and poor.
Minor Axiom I:
“Always play for Meaningful Stakes.”
If you invest Rs. 1000 and your investment doubles, you have only Rs. 2000 and are still poor! So if you want to be rich, you must increase your stakes.
Minor Axiom II:
“Resist the allure of diversification”.
Firstly, diversification negates the earlier principle of playing for meaningful stakes. Secondly, it may keep you where you began so that your gains on few will cancel out the losses on the other few. Thirdly, it entails keeping track of many more items leading to confusion and occasional panic.
Second Major Axiom: On Greed
“Always take your profit too soon.”
Lay investors having made the investment tend to stay too long on it out of greed for higher profits. But, one must conquer this weakness and book profits soon. If one is less greedy for more profits one will take in more. Don’t stretch your luck. In effect, it suggests, SELL sooner than later.
Minor Axiom III:
“Decide in advance what gain you want from the venture, and when you get it, get out. Decide where the finish line is before you start the race”.
This is self explanatory and hence needs no comment.
Third Major Axiom: On Hope
“When the ship starts to sink, don’t pray, jump”
This axiom is about what to do when things go wrong. Learn how to accept a loss. One should accept small losses to protect oneself from big ones. When the market starts falling, sell, take your money and run!
Minor Axiom IV:
“Accept small losses cheerfully as a fact of life.”
Expect to experience several smaller losses while awaiting a large gain.
Fourth Major Axiom: On Forecasts
“Human behavior cannot be predicted. Distrust anyone who claims to know the future, however dimly.”
The story of a monkey throwing darts on the stock exchange page of a newspaper, to select the companies to buy, and coming out a winner is too well known to be recited. Recent news from London, further proves the truth, when an untrained chemist’s stock selections, in a widely publicised contest open to all and sundry, registered higher appreciation over several full time highly qualified fund managers’ well researched selections. Human events cannot be predicted by any method by anyone and, hence, don’t trust anybody’s predictions.
Fifth Major Axiom: On Patterns
“Chaos is not dangerous until it begins to look orderly.”
The truth is that the world of money is a world of patternless disorder and utter chaos. This axiom is a commentary on Technical Analysis – a branch of investment strategies based on charts and patterns. The fact is, no formula that ignores own intuition’s dominant role can ever be trusted.
Minor Axiom V:
“Beware the Historian’s Trap”.
This is based on the age old but entirely unwarranted belief that history repeats itself.
Minor Axiom VI:
“Beware the Chartist’s Illusion”.
Life is never a straight line. Let us not be hypnotised by a line on a chart.
Minor Axiom VII:
“Beware the Co-relation and Causality Delusions.”
Don’t be taken in by coincidences in the market.
Minor Axiom VIII:
“Beware the Gambler’s Fallacy.”
There is a gambling theory which suggests that one should put small stakes initially and test their luck, and if these turn out well one should go for big stakes on the dice table. But this is not correct. It only shows that winning streaks happen. But nothing is orderly about it. You can’t know how long it will last or when it will strike.
Sixth Major Axiom: On Mobility
“Stay away from putting down roots. They impede motion”.
You may feel socially comforting to have roots. But in financial life, roots can cost a lot of money. Have a flexible approach while investing. This axiom implies a state of mind.
Minor Axiom IX:
“Do not become trapped in a souring venture because of sentiments like loyalty and nostalgia.”
Do not develop emotional attachment to your investment. You should feel free to sell when desired.
Minor Axiom X:
“Never hesitate to abandon a venture if something more attractive comes into view.”
Never get attached to things, but only to people. Otherwise it hits your mobility. Never get rooted in an investment. You should remain footloose, ready to jump away from trouble or into a profitable opportunity as and when circumstances demand.
Seventh Major Axiom: On Intuition
‘A hunch can be trusted if it can be explained.’
A good hunch is something that you know but you don’t know how to recognise it. When a hunch hits you, try to locate some data in your mind for any familiarity. Then only should you act on it.
Minor Axiom XI:
‘Never confuse a hunch with a hope’.
Be highly sceptical. Examine every hunch with extra care.
Eight Major Axiom: On Religion and The Occult
‘It is unlikely that god’s plan for the universe includes making you rich’.
You can’t only pray that you should be made rich. You will have to work at becoming rich. Mere prayers will not suffice.
Minor Axiom XII:
‘If Astrology worked, all astrologers would be rich.’
This is self explanatory. Don’t trust predictions.
Minor Axiom XIII:
‘As superstition need not be exorcised, it can be enjoyed provided it is kept in its place.’
In your day-to-day financial matters, act rationally. But, when buying a lottery ticket, give it a full play to amuse yourself.
Ninth Major Axiom: On Optimism and Pessimism
‘Optimism means expecting the best, but confidence means knowing how you will handle the worst. Never make a move if you are merely optimistic.’
In poker and a lot of other speculative worlds, things are never as bad as they seem – most of the times they are WORSE.
Confidence comes not from expecting the best but from knowing how you will handle the worst. Optimism can be treacherous because it makes you feel good.
Tenth Major Axiom: On Consensus
‘Disregard the majority opinion. It is probably wrong’.
It is likely that the Truth has been found out by a few rather than by many.
Minor Axiom XIV:
‘Never follow speculative fads. Often, the best time to buy something is when nobody else wants it.’
This is the best way to get a good stock cheaply.
Eleventh Major Axiom: On Stubbornness
‘If it doesn’t pay off the first time, forget it’.
If at first you don’t succeed, try and try again and you will succeed in the end. This is good advice for spiders and kings but not for ordinary persons with regard to financial matters. Every trial is a costly error.
Minor Axiom XV:
‘Never try to save a bad investment by averaging down.’
If the price of the stock goes down after your purchase don’t buy more to bring down’ the average cost of your total holding. Investigate why the price went down rather than put good money in a bad bargain.
Twelfth Major Axiom: On Planning
‘Long-range plans engender the dangerous belief that the future is under control. It is important never to take your own long-range plans, or other people’s seriously.’
This is self explanatory and hence needs no comment.
Minor Axiom XVI:
‘Shun long-term investments.’
If possible try to stay away fro long-term investments. The author noticed that the Swiss group never took a long-term view of their stock purchases. They always sold out as soon as their targeted profit was achieved.
How to Stay Alert While Driving
How to Stay Alert While Driving
Driving drowsy is as dangerous as driving drunk. Numbers are hard to pin
down, but experts at the U.S. Department of Transportation put conservative
estimates at 40,000 injuries and 150 fatalities per year as a result of
drivers’ sleepiness.
Steps:
1. Get a good night’s sleep, and plan around your body clock so you drive
at the times of the day when you are most alert.
2. Take a 10- to 15-minute break to exercise, stretch or walk briskly
after every 2 hours you drive.
3. Let someone else do a share of the driving. Divide the driving into
blocks of no more than about 4 hours for each driver.
4. Eat regularly to keep blood-sugar levels even, but be mindful of what
you eat. A candy bar won’t help much once the initial sugar buzz wears off.
To stay alert, the body requires good nutrition.
5. Drink coffee or tea (or another form of caffeine) for a temporary fix.
Keep in mind that caffeine does not take the place of adequate sleep.
6. Don’t drink alcohol.
7. Avoid medicines that make you drowsy, including antihistamines, some
antidepressants, cold and cough medications, and some prescription
medicines. If the label warns, “Do not operate heavy machinery,” you are
being warned not to drive a car.
8. Learn to recognize drowsiness. Among the signs: You keep yawning, your
head nods, your mind wanders, you feel eyestrain, or your eyes want to
close or have trouble staying focused. It all means that you need a break
from driving.
9. Take a nap if you’re sleepy, even if you can’t get to a bed. You’ll
have to judge your surroundings, but you’re probably safer napping for a
half-hour in a locked car pulled over to the side of the road than you are
driving drowsy.
Tips:
Some drugs cause drowsiness for the first few days, so take extra care
when you start taking any new medicine.
Warnings:
If you ignore signs of drowsy driving, you not only put yourself at risk,
but also your passengers and everyone else on the road.
Watch for signs of a sleep disorder: falling asleep at inappropriate times
(such as at a movie theater), snoring loudly, feeling tired when you wake
up, or disrupting sleep because of breathing problems (a condition called
obstructive sleep apnea).


You must be logged in to post a comment.