KB 1 Developing Leaders & Psychology Of Money

aug 2008

a h u m a n r e s o u r c e n e w s l e t t e r

highlights of this issue - Industry Champion focus on Samir Inamdar.

- Neha Arora looks at the birth of Atyaasaa’s newsletter. - Shamira Pujani talks about psychology of money. - Niket Karajagi insights towards building global organizations.

the editor’s column

industry champion Samir is a Mechanical Engineer fromMumbai University and is an alumnus of IIM, Kolkata. Samir joined General Electric in Dec 2002 and led various businesses,the lastassignmentbeingasthePresidentandCEO,IndiaRegion,for GEConsumer& Industrial.Samir isnowraisingaPrivateEquityFundfocusedon SMEs in IndianManufacturing sector specifically in Engineering and Biotech. Samir Inamdar

We are a few months into the year already, as summer wraps up and we brace ourselves for a newseasonof autumnand thewinter to come,it is just as much a season of exploration and novelty within the organization. We introduce the first edition of our newsletter -

“Atyaasaa - Knowledge Beans” - Awakening Human Excellence......

“I begin with congratulating Atyaasaa on launching the newsletter “Atyaasaa- Knowledge Beans”. I have watched the growth of Atyaasaa for almost a decade now. Even back then, I remember that Niket had a clear vision for Atyaasaa. He has worked relentlessly to achieve it.Congratulations to him and his team.I also want to thank him for givingme the honour to write amessage in the first edition of this newsletter. During my 28 years of career, I have worked with many great teams and with many great leaders.I have learntmy lessons and learntmany of themthe hardway.They have stood me in good stead and I believe these are keys to evolution as leaders.What can be better than sharing these lessons with you through this newsletter of Atyaasaa, an organization which helps develop leaders! 1. Respect every individual 2. Share the credit but accept the blame 3. Be a Learner to yourself but a Teacher to others 4. Short Term is important but never lose focus on the LongTerm 5. Keep the Big Picture in view always – consider impact of your actions on Business and Beyond 6. The Devil is in the Detail – don’t be afraid to dig! 7. Push Decision-Making down the organization – not Decisions 8. Balance is the key – in personal as well as professional life – allow for warmth and camaraderie 9. Build a set of Values for yourself – to provide a safe harbour to your ship in turbulent waters 10. Believe inMiracles but don’t depend on them– Challenge your Limits, don’t Limit your Challenges!

This newsletter will widen your horizon of knowledge with rich and new content every month.It will help us in educating our associates. The next edition will highlight other aspects of what it takes to create a World Class Company in continuation to the present article and the significance of competencies in the present scenario. Also, look forward to learn more from another industry champion. A “big thank you” goes out to everyone who helped put this newsletter together and made newsworthy contributions. Our endeavor is to make reading this newsletter a memorable experience.

Neha Arora Editor Atyaasaa- Knowledge Beans editor@atyaasaa.com

Neha Arora is a young, pro-active, and energetic individual, with a passion for Human Resource Management & Training. She comes with a clear focusonmanagingHRinterventionsasacareer.She has worked onmultiple key projects in training and consulting areas over a period of time inAtyaasaa.

I wish all the best to Atyaasaa and their new initiative – this newsletter.”

space for everyone

Money, money every where...everybody seems to be talking just one language.Be it any field...entertainment,education,sports,the corporate world, politics, law, marriage or psychology for that matter! It is believed that talking aboutmoney is not only good for your bank account but also for your mental wellbeing! Whether we accept or not it’s something that plays at the back of our mind 24/7.Just about every decision revolves aroundmoney. What is money for an individual that makes it so important? Money is tied up with our emotions. It’s a source of security and safety. The ability to earn money provides us with a sense of continued next page >>

vitamin‘m’ - money

Shamira Pujani

Shamira Pujani has done her masters in psychological counseling from Bangalore University and has been working as a trainer since then. She has conducted various workshops for a wide range of age groups including life skill training. Besides training her personal interest lies in creating awareness on issues revolving around childrenandwomen.

Write to us: For information info@atyaasaa.com | For contributing articles editor@atyaasaa.com | For suggestions feedback@atyaasaa.com

continued from previous page >>

independence.It affects almost all our choices from career to relationships. Various studies show a link between self esteem and money.It provides an individual with the feeling of well being.Well,it also leads to certain unfavorable conditions.But most of themare because of its absence! Financial issues are one of the leading causes of marital discord today. According to American Psychological Association it is the number one source of stress. Traditionally it is believed there are certain things that you do not talk about,like money,sex and getting ahead. So how did the transition frombeing a tabooed subject to being something that ismost spoken about take place?Traditionalists who grewup in a time of economic confusion (as the result of theGreat Depression) believed in savingeverypennypossible.Thenext generation,Babyboomerswhomake the largest group of the current workers is the generation that increased the number of work-hours. They were taught by their Traditionalist parents that you cannot talk explicitly about money.Therefore,they made doublespeak a part of their style early on.So even if money was important they sent this message across in an indirect way. Generation X was the generation of working mothers, where women started taking care of their own survival and became more vocal with their need to be financially independent.Born in the era of the information highway, generation X has been raised in a culture of instant gratification. Spending on luxuries with the use of plastic money came into existence. The millennial generation being the most ‘child-centric’ of all, individual needs and pleasures (most of them being monetary based) are placed high in terms of importance.They believe in enjoying‘today’and not worrying about the future,sincemoneywon’t be of any use when you are dead! Enjoying money and not making it a cause of stress or worry is one of the biggest challenges today. So what is the secret of being able to have enough of it and enjoy it with responsibility? If you ask me,my answer is simple…‘what goes around comes around’.In the obsession of earning more and filling our lives with endless luxuries we must remember that money is also to be shared generously with those less fortunate than us.This is the only guaranteed way tomake sure you are always blessed with abundance!

Business dynamics are now different from what they used to be,so the rules of the game are also changing. Organizations have to now look at global markets and they also have to gear up their processes and people in line with these needs. Even if an organization does not aspire to move into overseas founder’s note Niket Karajagi

Niket Karajagi is the founder director of Atyaasaa Consulting Private Limited, Pune which contributes to top corporate brands globally. He is an established international management consultant and an innovative human resource trainer with niche areas of expertise & contributions.Niket is an authority on creativity & innovation, emotional intelligence and statistical methodologies apart from his operations background in understanding of management processes

locations for new opportunities it cannot neglect the competitions coming from World Class Companies. World class competencies are thus specifically important for Global Brands & Organizations, that wish to now scale up in the International business arena. Let us therefore now look at a set of important competencies that makes an organizationa clear winner because unless you become“WorldClass” future may not be very bright. One has to start with the human capital shaping the culture of the organization. A locally competitive mindset is not sufficient anymore for success and professionals would now need to develop a global mindset. It is not important to strategize anymore in line with local markets, as the entry of international companies and their products and practices is an extremely important factor.Managers would now need to train themselves and their people to view the competition from a broader Global Mindset. The defining factor would be that people would have to think big and have vision to compete in global markets. Talentmanagement is going to be a lotmore important fromnowon. The future of the organization would now depend on carving out accurate competencies required to be successful for each individual and train and develop them accordingly. Soft skills like Cross Culture Sensitivity, Leadership, Planning & Project Management would find a lot more importance as undue losses have to be minimized and business would need to be managed so as to remain competitive.For certain,Creativity and Innovation would play a crucial role to emerge as winners in this new era. Outdated processes, technologies and mindsets would find no place anymore in the newbusiness dynamics. However with increasing opportunities retention of talent would become a specialized function. Quality consciousness amongst people and process is utmost and important. Market will have huge choices and consumer would look for this aspect andwould even become demanding by the day.Trends have shown the value called “Quality” is becoming

important in minds of the consumers, manufacturers & service providers. The business culture would now need to be shaped up to meet challenges from International competition. In this culture undesired attrition and desired attrition needs to be distinguished. There would be fewer opportunities for outdated talent and thus would emerge a “young at mind” aggressive technologically innovative work force which would shape up the future of the organizations. In the new business culture, collaborations with expert partners would be the key to bring down costs and improve technology and quality. These partners would also play a role in bringing about break through innovations in products. Vendor policies would thus need a serious relook. Collaborative partners would also have options to choose from thus retention of these partners is also a key to success. It is important to note that organizations that lack cross culture sensitivity would have challenges, which could result in serious losses and workforce would thus need a specialized skill to operate with different cultural mindsets. Research shows projects may not fail owing to lack of planning but due to lack of cross cultural sensitivity. Cultural challenges would have to be researched in advance as a part of developing global mindset. There is no choice now; Leadership would need to demonstrate a cross cultural intelligence. Social Responsibility is another key area where a lot of focus would be needed. It would be expected from now on that all World Class companies would need to contribute at a social level. Respect of the brand in the mind of the consumer would be a factor of pull. Organizations cannot anymore neglect their responsibility of giving back a part of what they earn to the system in which they operate. It is difficult to summarize all it takes to be a world class organization in one article however it would be my endeavour to contribute my experience in this field by discussing my research competency wise in the coming fewmonths.Till then sit back and give it a thought,are you shaping up a world class organization?

Write to us: Information info@atyaasaa.com Contributing articles editor@atyaasaa.com Suggestions feedback@atyaasaa.com

bean statement

Fundamentalpracticeofasuccessfulbusinessishonouringeach commitmentmadetoeverystakeholder

Atyaasaa Consulting Private Limited is a leadingHuman ResourceTraining&ConsultingOrganization partneringwith some of the best brands in the country and overseas.Atyaasaa has been a catalyst & a contributor in their quest for people development and business excellence.The core differentiator of Atyaasaa process is continual innovation,unique customization and use of state of the art technology tools implemented through ethical and experienced operations andhuman resource facilitators havingcontributionas their core value.

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