What makes Marwaris so successful in business?


According to Thomas A Timberg’s book, The Marwaris: From Jagath Seth to the Birlas, there are seven secrets of Marwari businessmen which are still valid “and perhaps will remain so”.

1. Watch the money


There are two key functions performed by the Marwari business firms and business groups – strategic management of investment funds by moving them to where they are most productive in the long term and close financial monitoring of the enterprises in which they have a share.

It is perhaps the changes in Harsh Goenka and Kumar Mangalam Birla’s business styles that point to a dilution of finance-centric strategies in present times.

2. Delegate but monitor


Successful business have to learn how to delegate, otherwise the span of economic activity can engage in will be limited.

They also have to know when to intervene, fully aware that a decision to intervene is costly. Usually it is easier to replace an unsatisfactory executive rather than turn him around. Ineffectual executives and family members are gently moved out to cushy and uncritical positions.

3. Plan, but have a style and a system


This is somewhat ambiguous as we clearly see a transition from an intuitive style to a more systematic one. However, this may be, as some suggest, a product of the transition from business founders to inheritors.

4. Lead to expand and do not let the system inhibit growth


A key characteristic of successful businessmen is a drive to expand. Many forms have expansion in their mission statements but few implement it.

5. The right corporate culture


The firm or group must have a style which befits its market and the times. Changes or adjustments constitute one of the most difficult tasks.

Corporate culture in a firm is critical in inspiring loyalty, especially of competent managers. Financial incentives can go only thus far, and are sometimes counterproductive.

6. Don’t get blown away by fads


The shelf life of half the management fads is six months. Professors, including those from business schools, devise striking and attractive theories which bear no responsibility for success.

A responsible manager has to be more tentative and experimental in his approach. As any school debater knows, there are usually at least two sides to any question, even multiple sides as in the Anekantavada of Jain logic. The problem is to decide which is right in a given situation.

7. Do not miss new developments


Some businesses describe themselves as ‘knowledge businesses’. As a matter of fact, all are. The world’s oldest family businesses have had some very successful ventures and a lot of failed ones because of missed opportunities.

Originally at http://economictimes.indiatimes.com/slideshows/management-leaders/7-secrets-that-makes-marwaris-so-good-in-business/what-makes-marwaris-so-successful-in-business/slideshow/55223494.cms

Site Meter

Sat 03 Dec 16


Management Lessons from Mahabharata


Mahabharata is considered as the largest epic of the world. It’s said that whatever is not there in Mahabharata is not anywhere else. So, we will try to find out some intricate management messages that are relevant even today. Our main focus would be the Great War that changed the course of the Third Age of Man.

The war is a kind of target that you have to achieve. So, there are many things that will need planning. You need to plan the execution process, limitations, team members and leaders, etc.

Preparing for the target
Karna went to subdue other kings so that he could get their wealth. On the other hand, Arjuna, Bheema and Yudhisthra set out to acquire Divyastras, strength and strategic wisdom.

Management Lesson: 1
Try to tap new opportunities instead of simply focusing on killing your competition. If your competition dies, there is only a smaller growth in your business because there would be another one in a short while. Instead, if you go for newer opportunities, you may have added strength to your business.

Kaurvas had a few allies; while Pandavas, worked to garner more allies so that they can gain more support. They established various relationships through marriages.

Management Lesson: 2
While working on a big project, it is good to extend to other people who can contribute in whatever way or portion. The more allies you have working for the achievement of your target, the more chances you have.

Kauravas had a one-man leadership hierarchy. The whole of the army was under one person’s command. On the other hand, Pandavas had different generals directing the operations.

Management Lesson: 3
Share your responsibilities when you have a huge target. It is good to have different people looking after different departments and answerable for their own tasks. If you have only one person making all the decision, things could turn messy.

Team Spirit
This is where Kauravas lacked a great deal. All the great generals of Kauravas including Bheesma, Drona, Karna, Shalya, etc. were fighting individual fights. However, Pandavas had only one team bound by one goal. All participated in decision making process and contributed their skills.

Management Lesson: 4
It’s important to have a good team that gels nicely. More importantly, all the team members should be given due consideration while making decisions. Individual goals are good but team goals can be met if everybody contribute his/her lot.

Individual Motives
Kauravas had individual motives but they could not help the group motive. Only Duryodhna wanted the war. While Pandavas had their individual vows and oaths to keep, they worked towards the common goal.

Management Lesson: 5
Align individual goals and skills to the group. It will help you get maximum output because every individual is pumped to fulfill his/her personal goal, which in turn is fulfilling the common goal.

Commitment is very important. Kauravas were short on this. Almost every one of them had personal bias and points where they said they would not be committed to the war. While Pandavas were committed wholeheartedly and were willing to do anything to achieve the common goal even if it means laying aside personal agendas.

Management Lesson: 6
If the people in the team are not committed to lay aside personal preferences, the team won’t work. Make sure the common goal is achieved even if it means keeping the personal goals pending.

Right Managers
Pandavas were very good in this. They knew how to inspire, how to take benefits from faltering enemies, how to expose their weakness and whenever needed seek guidance from others.

Management Lesson: 7
Put right people at right places. If the managers or team leaders are not able to inspire or provide directions, the team won’t function effectively. This is surely one of the most important aspect of any management team.

Women Empowerment
Kauravas were all patriarchal structure. Gandhari was not heard and there was no participation of women in decision making. On the other hand, Pandavas relied heavily on this–Kunti, Draupadi, and the mothers of other warriors like Hidimba (Bheema’s wife) and Subhadra (Arjuna’ wife).

Management Lesson: 8
It’s important to tap the potential of your better half. Masculine traits of aggression and dominance should be balanced with harmony and sustenance.

So, it’s good to build teams, have right kind of managers, group goals over individual goals, women participation, inspiration, ackowledgement.

– by Vivek Kumar

Originally at http://timesofindia.speakingtree.in/spiritual-slideshow/seekers/science-of-spirituality/management-lessons-from-mahabharata/36242

Fri 20 Dec 13