Model for strategy and change

This is the framework that should be followed for strategy and change for any organization.
Have a look at this diagram.





The image given above clearly portrays my strategy and change model. We divide strategy and change into four separate layers. The top most layers are most important and layer at bottom is least. Each upper layer influences the outcome of lower layers. The upper layers gives that input to the lower layer. If an organization is looking for strategy and change, it should start with changing the top layer and then go towards bottom layers of framework.The enterprise has to go through countless iterations of the loop through these four layers in course of existence.

Elements of entrepreneurship

Different people define entrepreneurship in different ways. Some say it is about selling new things in news ways, some say it is about working for your self, some say it is starting a business. Whatever is your idea about entrepreneurship, this blog will help you.

I have listed out the important aspects of entrepreneurship. They can be useful for established businessmen and CEOs also because sustainable business is all about adapting to the changes in society and economy. Businesses have to keep reinventing themselves.

1. Business Model: This part of business planning is most vital and has to be very rigorous. Entrepreneurship starts with a business idea and the first thing you have to decide is the business model. Let us try to understand term "Business Model". Business model is the abstract concept about how you are going to make money and relationship between building blocks of the business like cost, pricing, delivery, infrastructures etc. Read this Wikipedia page. Remember the fact that same product or service can be sold using different business models. For example software can be sold to individuals as well as corporates, there can two flavors of same software meant for different client base. There can be various permutations and combinations of sales-marketing, pricing, manufacturing and procurement of same product or service. Please do your homework here. A lot of clairvoyance and analysis is needed here.
2. Homework on Product or service: You have to make sure that your product or service is of good quality. Before plunging, ask your self 10 times whether it will be absorbed by market or not. It has to be cheaper and better if you are operating in some existing business model. If your business model is totally new then you can decide your own pricing depending on consumer's expenditure capability and cost of product and service. Do not be very greedy in the beginning. One more fact that if you are going for existing sustainable business model you will face great competition as most of the other businesses would like to invest in this area, on the other hand if your product is innovative there will be associated risk also, so choose options wisely.
   
3. Target market: Market is like a pond and business is like fishing. So larger the consumer base, better the chances of getting business. You will have to do demographic analysis and make sure size of market is big enough. Sometime market is not there but it can be created by enticing consumers.
   
4. Sales channel: A business without proper sales channels is a vehicle without wheel. You have to calculate cost of sales and way of selling in very beginning. Sales is the most important part of the business.
   
5. Sustainability: Choosing a sustainable business model is another important aspect. You do not want to become a businessman for few months. Understand the fundamentals of economy. There are always cycles when saturation of demand and supply takes place. You can not monopolize, even if you are first to start a product or service, there will always be competition. If your business model looks sustainable for at least 2 or 3 years then you should go ahead.
   
6. Working Capital: Finance is another important aspect. Raising funds for working capital is a on going exercise. It is said that break-even for a startup takes near about 12 to 18 months. So be ready to run your business without profit for at least one year. One of the important lesson I have learned from the book "The road ahead" by Bill Gales that you should always have working capital for one year means, you should be able to meet business expenses for one year at any point of lifespan of business. Money can be raised by different means like Venture Capitalist, Banks, Friends, Stock options etc.
   
7. Marketing: Market is equally important as other aspects of business. You should always keep some money aside for marketing or branding your product or service. People like to go for a famous brands. One should be careful while choosing media for advertising. The media where there is no way to know that promises were kept or not, should be used least. For example you have no way to know that SMS was send to given number of people but you know that your ad is printed on the newspaper.
   

You will always be successful if you understand what society needs and predict the socio economical changes. In the beginning you have to be very gritty and tough but if you sustain, world is yours. If you like, you can refer this model of strategy and change about business.



"Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets."
- Victor Kiam, best known for his "I liked it so much, I bought the company" ads for Remington electric shavers

"The cover-your-butt mentality of the workplace will get you only so far. The follow-your-gut mentality of the entrepreneur has the potential to take you anywhere you want to go or run you right out of business--but it's a whole lot more fun, don't you think?"
- Bill Rancic

30 Dos and don'ts of the workplace

Dynamics of Corporate are totally different than schools, where more you study more you get marks. Corporate is complex place. I am listing out 30 do's and dont's of the workplace. I hope they will help you in your career.

1. Do not abuse resources of office: It is not professional to abuse office resources for personal use. Office may provide you telephone, internet, cab, fax etc. Do not use them for personal use, if people in office or senior people come to know about it, you will end up distorting your image or at extremes you can loose your job.
   


2. Be discreet: One should always maintain a professional distance with people in office. It does not matters how close you get acquainted with the people in office, never tell everything about your personal life. Your financial condition, future plans, social activities, source of extra income are few things which have to be kept confidential. Remember no matter how much you love your colleagues or they love you, when there is situation, your best friend may take advantage of your personal information. They may tern jeolous of you and start creating problems for you.
   


3. Do not laugh aloud: Not only laughing but talking on phone, talking with colleagues in office has to be done quietly. Your collegues can be ingrossed in their work and they do not like getting disturbed.


4. Office romance: This is one of the best career killer. There will not be any organization on earth who would like to compensate people doing romance in office. It brings down productivity. There can be little positive outcome like people may start liking office more than home but still it does not help productivity. You have to be extra careful if the person you are involve with is your direct boss or subordinate. If you are really hooked on someone try to keep it outside office or do it very secrectly. A little bit of firting can keep the workplace alive but serious romance will not be allowed by any organizations. It pollutes office culture.
   


5. Respect seniors: Sometimes it happens that yongsters are little bit more informed or may be more talented, than seniors in management but it does not mean, you strat walking over everybody in office. If seniors finds out that you think you are better than them they will try all means to let you down. You should be very tactful while dealing with seniors and respect the presence of beauracracy in corporate hierarchy.


6. Mix with people: Do not stay aloof from people. First of all you may loose some vital information and second of all people having better social skills are chosen for promotions. Some people having great expertise in there area of work, feel suppressed because they were not promoted. They should improve there people skills.
   


7. Do not gossip: Spreading rumors and gossiping about people can be a great fun, but this fun comes with great risk. If you are caught you will find your self in sticky situation. In some situations you may be gossiping to the friend of object of gossip. You should go to office for work.
   


8. Dress to the occasion: Dressing professionally will pay rich dividends in course of time. Imagine you find CEO in elevator and you are not dressed properly. Dressing to the occasion is the common sense that, one should practice. Your confidence has a lot to do with, how do you appear in public.
   


9. Personal calls: Taking to many prolonged personal call during working hours is unprofessional and you are inviting trouble for your self.
   


10. Looking into other's monitor: Every time you get the curiosity what other guy beside your cubical is doing, resist your self. Peeping into other's screen is violation of privacy. Even if you are boss, stay away from this habit.
    


11. Disturbing for small things: The last thing anybody would like, to get disturbed while that person in engrossed in something. Asking for small think life spelling of a word or opinion about something, is irritating for most of the people.
    


12. Be a team player: According to your understanding and idea of productivity try your best, to contribute to organization by all means. After all organization is collection of people working in teams. Being a individual great performer is good but you have to work for the team not your self. Most of the bosses like people, who can be part of a cohesive team.
    


13. Do not give completely different opinion just for sake of being unique: Some people are obsessed with the idea that they are totally correct /unique /different. People will hate you if you keep doing that. Moreover sometime it is good if things happen, the way everybody else likes. If you really feel, things are going wrong just make people aware of potential problem and let everybody reach a consensus.
    


14. Do not go out of the campus very often: One should not be absent from office for personal work like bank, bill payment, quick appointment with doctor etc. May be you are needed in office urgently when you are chilling outside campus.
    


15. Check your extra curricular activities: Participating in too many events of organization or volunteering, may give your colleagues impression that you have a lot of free time. So balance you act.
    


16. Let people know, you are better: Just being better and sitting in a corner of office is not sufficient for success. Learn to market your self. Being famous will insure your survival. You should also be sure that you are not crossing corporate hierarchy and posing threat for you senior. Make sure you are inside your area of influence.
    


17. Do not make juniors do personal work: It is one of the unprofessional practice that some bosses do. Your junior colleague is a resource from organization for official purpose, you can not use it for personal use. Moreover your subordinate may find it against his/her self pride. They may not like to work with you on projects later on, or they may simply complain to management.
    


18. Be proactive: Being proactive is a way of living. Everyone does what is told, but how many times you have done something on your own, warned your team about potential risk, suggested your boss a better way of doing things. One has to careful about doing it too much, you may end up wasting your time or resources of organization without permissions of seniors. Do not force the things and become a nuisance by over doing it.
    


19. Listen to others: Listening to somebody with empathy can do wonder for that person and also improve you relationship with that person and reputation in office.
    


20. Do as Romans do: One should try to understand the fact that every organization has a culture. Try to understand the cultural pattern then act accordingly. For example you can follow other's timing for coming and going, dressing sense, behavior etc.
21. Substance Abuse: It is written in every HR manual, make sure you respect the law.
    


22. Official gatherings: Party or outing with colleagues is still a formal thing. Never overdo the things. If you drink too much, you will end up saying or doing something terrible. No body will say anything but your true colors will be exposed and you will no more be respected by your seniors.
    
23. Control temperament: Showing anger or shouting at people is considered unprofessional. If you have to do that then you have to learn dynamics of corporate. It never solves a problem. There are so many peaceful ways of killing people in corporate. Involve seniors, do you part correctly, do not force somebody else to do his part. If you are manager then giving them poor performance rating is better incentive than shouting at your subordinates.
    
24. Admire people: If someone has done well admit it sincerely and give the person his due credit. But stay away from insincere flattery, most of the people can sense it .
    
25. Do not look happy: Whole office is under great stress and you are blinging in office with radiant smile, it creates a paradox. Hide you emotions if possible, you are happy that simply means that you do not have enough work for most of the people in office.
    
26. Add value: Try to understand the fact that everybody gets paid according to the proportion of the value addition to the organization. Try you best to add value to organization and justify it in your appraisal process. One should try his best, to move toward the jobs who add more value to organization.
    
27. Prove that you are indispensable: One of my friend once told me a corporate wisdom that "No body is irreplaceable". Still try your best to remain indispensable by various means.
    
28. Behave professionally: No matter how friendly you become with the people in office and boss, you should behave in a sophisticated manner. Common mannerism is very important factor for your success. You should polish the way to talk, walk and deal with people.
    
29. Office politics: Having social reputation of straightforward person is far more beneficial than a political crook. Politics is integral part of dynamics of corporate but is has to be positive. Only sheer force or skills can not keep you alive, be tactful and alert. Corporate is full of invisible bloodshed and violence, people eat each other everyday.
    
30. Watch your smell: Your socialization will suffer if you smell unpleasant. Not body likes a stinker. Putting on some fragrance is good but be watchful about quantity and quality, do not overwhelm people. Bad breath is one of the reason why people run away from you.
    

I would summarize by saying that these are only guidelines. Real life job environment can be very different and challenging but still try your best of follow them.

10 Elements of Leadership

The best leader is the one, who can make his followers honest, enthusiastic, proactive and productive. Here are 10 Leadership mantras. They are for middle and lower management, while top executives and CEOs can draw benefit up to some extent using these theories. Top management needs a different orientation and more holistic approach.

1. Vision: A leader without vision can never be a leader, it is like cry in the wilderness. People like to follow people, who can give them hope and show them path. People like to follow things which can make their life better in future. Followers tend to show enthusiasm, if they feel they are part of some mission.
   
2. Make people proactive: It is my personal experience that at least 90% workforce is not proactive. A leader should try to foster a culture of proactiveness in organization. It reduces wastage inside system, makes decision making fast. It also promotes a culture of innovation. Leadership should be careful about extremes as it can make system chaotic.
   
3. Talk to people: You got to talk to people if you want to engage them. Sometime there is very small grudge which is making a person unproductive. Two way open communication is the key to engage workforce.
   
4. Making people accountable: There is no king in history who has won the war alone himself. One has to make people accountable for their work. When a person a accountable for a certain function of work, he tends to be more focused and result oriented. Leaders should focus on making people accountable, productivity will take care of itself.
   
5. Do not micro manage: The thumb rule of management, do not micro manage. People like to have their share of freedom in their territory. Micro management makes people think like, they are slaves. Let the people have their sense of freedom. It also hampers creativity.
   
6. Give people credit: Everyone like to be praised for their deeds. A pat on the back is a great confidence and self worth booster. If someone has done a good job, it is worth acknowledging it, if this acknowledgment is public then it even better. No body would like his hard work going in vain.
   
7. Knowledge Management: If your organization is in service, proper knowledge management becomes key to success. Knowledge management is a subject all together, but it revolves around principles like knowledge sharing/capturing/creation culture, preventing reinvention of wheel, better connectivity etc.
   
8. Foster cohesion in team members: Let us start with the quote "No empire was ever conquered until it was broken inside". Teams perform well when there is team sprite among members and they work in cohesion. Each member has to be equally respected.
   
9. Trust your people: It may sound like a paradox in today's no body trusts no body environment. I am sure if leaders trusts follower then it will give birth do a different confidence and enthusiasm. No body likes a boss who is always suspicious, if the person in context is honest then suspicion may break his self integrity.
   
10. Think win win: Thinking win-win is a very old saying. Action of the human is driven by incentives, if a person finds something for himself in the given deal he will follow you.
    

These are just guidelines, real time industry environment is very different. The leader in context has to choose right style of leadership and tact in the given situation.

It is very easy to lead people when your intent and purpose is right and honest. If you have love and affinity for your followers, cosmic forces will help you. One more thing leadership is just an element of management, only good leadership can not help you become successful as manager. Other factors life networking, business development, process optimization are equally important.

The laws of incentives

The purpose of this post is to explain the effect of a good incentive system on the moral and productivity of the employees. We all know that human action is driven by incentives.

Incentives can be categorized into following four categories.

1. Moral: Moral incentive is little complex to understand.

A> Anything that make us feel proud, something which boasts our self respect , something exciting, something which give meaning to our lives that thing is moral incentive.

B> In spiritual terminology I define moral incentive is something which gratifies our intellect. Different people have different intellect. A evil person takes pleasure in doing evil if he succeeds in doing evil he is happy. A saint like person takes pleasure in doing good. Common person is just selfish he neither wants to do bad nor good. He just wants good for himself.

While rewarding people in terms of moral incentive we should keep in mind definition “A” and reward only good action not bad action.

2. Social: Everyone wants to be famous and acclaimed. If something gives us social praise we call it social incentive.

3. Economic: Money is important to everyone for survival.

4. Coercion: Fear of being fired or any type of political or social threat can be regarded as this incentive. The opposite of first three incentives can be regarded as coercion incentive. This is a negative incentive and it should not be used until very necessary.

A organization can use social and moral incentive in order to offset economic incentive.
We need to use various combination of these incentives in order to insure greater productivity of employees.

A vibrant workplace

The following are the preconditions, if they hold true the work place will be vibrant.

1. Employees should have feeling of being part of mission.


2. Two way open communication.


3. Harmony with supervisor, peers and juniors.


4. Organic growth of organization.


5. Work-life balance.


6. A friendly work environment.


7. Right pieces at right place ( elimination of job mismatch).


8. A balance between value driven leadership and goal driven leadership.


9. People should have feeling of security and trust rather than fear and uncertainty.


10. Good physical and mental health of the employees.
11. Keep it interesting.

According to HR surveys, salary comes at 8Th place in the list of the things that matters to employees. The leaders have a very big role to play in order to insure that the employees are engaged to their job.

Reward teams not individuals

The title says "reward teams not individuals". This theory is meant for fostering team sprite among employees because team builds projects not an individual.

This is a very common case that in order to execute a project efficiently and successfully the coordination between team mates is vital. Let us assume that inherently people are selfish, they believe in buck passing, leg pulling. We will solve these problems.

Let us go to the root of the problem. Right from our childhood we are rewarded for personal excellence hence we tend to be selfish. We always find incentive in being selfish. If we find incentive in being unselfish, helping team, helping project naturally we will start becoming unselfish.

To start with there should be provision for best team award rather than best employee award. Any situation can be rewarded where people have shown coordination and team sprite. Team sprite should be inculcated into people by their leaders. Bosses has a big role to play in this scenario. They should carefully watch the behavioral pattern of employee. This theory is the answer to the problem called "workplace rivalry".