Business to the Buddha

Tag: Professor Tomas Lopez

  • Money – what is it?







    This was a very candid question Prof Mankads asked once – ‘What is money?’ and he answered – ‘Money is what is accepted a money.’ True, money is what is accepted as money. Humanity needed some tangible measure so we deviced various forms of money at various time. For example at the time of barter system ‘everything’ was weighted against the other. So everything was acceptable in trade as money. Then came matels and now paper and plastic money (credit cards).

    I started thinking if we needed something tangible as money what if we made something like Camay (soap) a currency? If some other things be made money what would happen? Take an example of age – everyone would gradually get money. Fun or being funny – comadians would have maximum money in the world. Seriousness – patients in extremely intencive care units. Trust – Indian politicians or politicians in general would stand nowhere. Spirituality – the spiritual masters would be at the top, one I know is Sri Sri Ravi Shankar.

    Now if we ask ourselves – who is rich? The simple answer is one who has ‘more’ money. ‘More’ is contextual (adjective). Now, if we take money as fun, being happy or being funny. How many of us are rich today? Kids in school are competing, people are jealous or many of us have only instant gratification and long term sorrow. Not many of us are rich! Has money made anyone happier?

    Assume Trust be the currency. How many have earned it? Yes trust is hard earned currency, right? Bankers have lost their trust of 100+ years (see the occupy wall street movement), politicians have lost it. Citizen vote because they think someone will improve the systems. On the contrary we all still remember Jesus, the Buddha and other Masters. Plato, Aristotle and Chanakya. We named unit of force on the name of Newton we say Da Vinci was genius. Were they ‘RICH’ in terms of hoarded money? So, what if we measure richness on different factors now and in future. See this engineer mind thinks of formulae (which is not correct, yet I am writing it) –
    Richness = [{(money + Happiness)*Trust/greediness}^(1/greediness)]*(peace of mind)*spirituality
    and other important stuff
    Range of the variables
    0 > Money, Happiness and Trust > 1
    Greediness > 1 upto infinite
    peace of mind and spirituality> 1
    ^ stands for raise to the power

    I think everyone of us has to identify what we want from our life and that one or few things would be The thing(s) which would make each one of us Rich (not necessarily Money). Of course, this richness should not come at the expense of others or harming others.

  • Theory of constraints






    Prof Moradian taught us concept of the Theory of Constraint. He also suggested us to read a book by Eliyahu Goldratt – The Goal. In the novel, protagonist is struggling with the operational inefficiencies of his plant and therefore facing a constant fear of management decision to close the plant.

    Well, what is this theory of constraints (ToC)? In brief ToC states that “A chain is no stronger than its weakest link”. I was thinking that this concept is applicable to our society too. We are evolving, we are constantly developing some thing or the other, society is a sort of factory. And the concept of the ToC applies equally to our life. Look at it this way if rich becomes richer the poorer would become weaker link of the society. Have you heard that during recession crime rate increases? This is ToC for our society. Lately, lot of demonstrations are happening across world by the title Occupy Wall Street. This is where I think that ToC can be applied in the society.

    I thought about interdependent co-arising and the Theory of Constraints in conjunction. My understanding of interdependent co-arising is that – we are all dependent on each other and for growth of each individual other has to necessarily grows. In other words, if society wants to evolve, everyone in the society has to evolve. The weakest link of the society may hamper the growth of society in total. Here I see a solution to the constraint, perhaps a socialistic one. We as a society have to help each other to grow (strengthen the weakest link), otherwise we would see increasing “Occupy Wall Street” kind of movements or increasing crime rates in future.

    I shared these thoughts with Prof Moradian and he said the idea is good why don’t you think about throughput and operating expenses and develop this concept of ToC in society further? This made me dig deeper. It is said that ‘a stitch in time saves nine’. If we rewind to 2008, after months of searching for alternatives Mr Barnanke, Mr Paulson and others had to bail-out banks of USA. Why not we start doing something now and for future. I see the operating expenses of this approach as deferred expense of brand building (building society) exercise for future. The throughput of the exercise would be availability of competitive, capable and intelligent work force for companies. These capable people would be the spenders of tomorrow – moving the wheel of consumerism forward – effectively, the solution may not be as socialistic as I think.

    Related blog – Ideate – save the sinking ship

  • …there is a new beginning!







    I was reading – Living with the Himalayan Masters by Swami Rama and came across an interesting analogy which I am sharing here.

    “…A candle light is extinguished by the breeze very easily, but if that light is protected and allowed to catch the forest, it will grow into a forest fire. Then the breeze helps that fire instead of extinguishing it. Similarly, when an aspirant, with the help of discipline, protects the flame of desire burning within, it grows more and more. Then all the adversities instead of becoming obstructions, in fact, start becoming means. The obstacles which are supposed to obstruct the path of self realization are not really obstacles. Our weaknesses and the values we impose on the objects of the world create these obstacles for us. Attachment is one of the strongest obstacles created by us…”

    End result changes when context changes. A breeze may extinguish or support fire. I read few lines long time ago –

    …पेड़ थे मजबुत वो जड़ से उखड कर गिर गये (stronger trees have been uprooted)
    और पौधो ने किया है आंधियो का सामना … (however, saplings/plants have faced storms)

    Here definition of strength becomes a weakness. Strength of a tree is being tall and ability to withstand forceful blow. However, this strength becomes a weakness in case of a storms. Here we need to think – the context defines many things, at times changes the approach to the decision making also. I remember my Professor of MBA – Prof Lopez – we used to have animated discussions on various things because context used to differ. He always suggested that there are no ready made solutions – one size does not necessarily fit all…

    With reference to the economic problem I may say that there are many issues. Initially, it was love for the ‘Free Market Economy’ (with respect to the above para – ‘attachment’) by the policy makers of USA, and later the other extreme (protectionism) is one of the issues. We may say that – ‘…any time world economy may crumble’. However, when I change the context I think the time has come to move on to a more inclusive world – Vasudhev Kutumbakam (in one way “not protectionist”). I am of the opinion that we need to think of each one of us as a unit. The solution is there, provided we move from ‘I’, ‘Me’ and ‘You’ to ‘Us’. The changed context will show us new possibilities – I think there is a new beginning. … Destruction sometimes has value!

  • The Middle Path







    I was thinking about the change happening around us on a daily basis. On a lighter side – roads of Mumbai with so many potholes. Well, on a serious note the economic situation in USA, changing thought process of middle class Indian etc etc. Keeping so many thought aside and together what I was thinking to write is about the middle path suggested by the Buddha.

    I believe the challenge economies are facing and have faced are because of their lopsided strong stance. USSR failed (various reasons) one reason was strong rooted socialism. USA is facing great challenges one reason – blind faith in capitalism. I see the good part of Indian economy is balance between socialism and capitalism e.g. public private partnership. The message I see is – there has to be a balance. The balance is needed on various fronts such as the one I suggested earlier e.g. controlled aggression in earlier blog on Balancing Act.

    When I think about following the middle path, I see many avenues for the same in our daily life, in our profession. Think of emotion and logic there has to be a balance. If one is too passionate about something, it may turn into obsession which may be harmful. There is a thin line difference between being a Courageous person and being a foolhardy. Balance between work and life. There are various personality type that need balancing.

    Further, I thought about Prof Lopez and my class of Marketing and his advise to me. I realized – what is required is an accountability when any Marketing activity is pursued. I heard someone saying that Marketing is a bottomless pit. Now – and in the future – there would be a great demand and pressure on Marketing departments for controlling the expenses and achieving the results e.g. Return On Marketing Investments (ROMI). This would require a balance between Marketing analytics and creativity. Message should be conveyed creatively yet keeping the returns expected and doing a first hand analytical research on the ROMI.

    Net net, we have to follow or learn to follow the middle path – economies, Governments, businesses, society and individuals. Isn’t it?

    Related blogs – Irony! Balancing Act and Cause…

  • Business of religion!*







    The first message we heard in the class of Brand Management of Professor Ram Kumar, was “It is an eco-system…”. An entangled, closely knit or perhaps confusingly mingled ‘Eco-system’. Econ-system of brands, products, product variants (variants are very confusing, no doubt) and bombardment of marketing messages (communication). Here everyone wants to say that our product is the best using different channels and different language. Hum! it sounds very common, right? So common that we overlook it.

    In another class of Marketing we were asked which is the oldest business in the world, still running successfully? I (when I say ‘I’, literally I) responded ‘religion’. Every religious institution says our religion is better (perhaps the best) than others and is the only path for salvation. Walmart, Google, Microsoft, Facebook, Tata or Reliance might exist, or not, for 1000 years but for sure we will (and had) many religion for 1000’s of years and we will have them in future too. Why? Because – religious institution sells itself on emotions. Even without learning any Marketing concept, religious institutions learnt that emotions should be hit directly to let people decide emotionally and justify rationally.

    Let us talk about the channels they use. It is similar to what we learn in distribution channel or managing supply chain. ‘Retail store’ of Religion or distribution channels are found everywhere, and finances? Well there is no limit to it (find it for yourself – a recent News in an Indian Newspaper The Hindu or Google search for $ with any major religion of the world…). Every religion has a source of income this source of income germinates from the EMOTION we talked earlier about. Yet there is a lot to learn from religious institutions, learning the administration, Marketing and distribution channel and much more, is not that true?

    Personally, I am a strong believer that religion plays an important role in building and binding society. Religion is a path wherein you have to follow the traffic rules. If you do not follow the rules you are likely to meet with an accident. What is the question of saying rules of left hand drive better than right hand drive? The rules are there to avoid accidents and make the journey safer and easier. When I say ‘firm believer’ I mean the rules taught by the religion, and not the comparison of one to the other.

    Well, not only for business but also for being righteous person we can learn a lot from religion!

    * Conditioned applied – Thoughts presented here are my own and learnt from different sources, I do not intend to hurt any sentiment or question any religion.

  • Fruit will arrive in its season…







    We talk about long term sustainability, but want to gain in short term. Shareholders want quick dividends as well as long term performance of the company. If reserves and surplus (R&S) are given in dividends where would company get money for growth. In such cases our actions and desires conflict. I initially thought about the Japanese currency crises in similar fashion (common cause Vs individual gain). Though later Prof Mankad told me that the reason of the appreciation of Japanese Yen could be the computer triggered buying/selling, the way people put stop loss trigger in share trading.

    In operations, different departments try to optimize their performance, what happens to the overall performance? It is synergy that matters rather than the individual performance. Thats where ‘Theory of Constraints’ plays an important role to achieve global optimum against the local optimum.

    I was thinking about the same for some time in a different fashion. What is long term goal of an organization and an individual? How do both the goals meet and how to build synergy between individual’s aspirations and organizations perpetuity? Why did the question arise at the first place? A branding expert told us that marketing managers want to start new brand building exercise (to gain in short term for writing on their resume – ‘I started this initiative’) and move to next level. New manager comes he/she too does the same. Short term gains are there for the marketing manager; yet for long term the brand is diluted perhaps no one knows what would the brand stand for in future. I believe, Sataym fiasco started similarly – to show the investors that Satyam is growing, numbers were made up.

    Effectively, the question to ask is – how many times we look at the bigger picture? The question goes back to Why are we doing what are we doing? I recall Prof Lopez digging deeper and probing us to the fundamental reasons and the importance of asking right questions. Where does the bug stop?

    In school we learnt couplets (termed as Doha in Hindi) of a mystic Kabir, one of them was –
    धीरे धीरे रे मना धीरे सब कुछ होय
    पानी सीचे रे घणा ऋतू आये फल होय
    Literal translation (courtesy) of the same is –
    O mind! everything happens at its own pace, slowly
    Gardner may water a hundred buckets, fruit arrives only in its season.

    I am hopeful that some day those questions would be answered and we individually and collectively would balance between the long term Vs the short term perspective. there would not be much (if not any) of opportunism. We as human beings will evolve. I am optimist, “…fruit will arrive in its season…” and we are nearing the season.

  • I will only show you the path…







    (A correction, in the title ‘I’ stands for ‘the teachers’ and ‘you’ stands for me or ‘the students’.)

    I have had privilege of meeting Prof Mankad recently, it is always a pleasant experience meeting him. I realized he always has something very meaningful to share and his opinion are always very well thought off, I have a lot to learn from him. While talking to him I realized that many good teachers have given a message – ‘I will only show you the path; YOU have to walk through the road.’ When the Buddha told the story ‘Finger is not the moon’ the message was –

    1. Do not stick to the finger e.g. me, because this (finger) is only a way to show you the path
    2. Get directions and pave your path. It was a message for Ananda – app dipo bhava (in Pali language) Meaning ‘Be a light unto yourself’ when you are done with identification of path
    3. Walk through the path

    Prof. Mankad taught us Macroeconomics, gave us an Financial Times in the exam to write about any current affair why? To make us start reading FT. Prof Moradian made a statement in a class ‘I will only show you the path, you have to walk through it’ (which is the title of the blog). Prof. Lopez gave us inputs on life beyond books and ‘learn to see’, e.g. did you go to Vivocity (a mall in Singapore)? Did you see this or that? What can you infer from that? Prof Ram Kumar gave us assignments wherein we had to go to market and see the performances of brands on ground. Prof Sohan Shah, gave us sleepless nights (believe me we all enjoyed the grind) while giving us assignments on marketing communication, I am pretty sure that each student of the class (perhaps some non marketing students too Ankit Jain and Rahul Krishnan) can independently workout a plan on integrated marketing communication. They have showed us the path, its our responsibility to walk through the road.

    *What I understand is the Buddha was not in favor of a religion; even it happened in case of many more spiritual masters. Why? Because as time passes the directions become rituals, systems you see! When rituals become the ONLY path to be followed it creates conflicts in individuals mind and actions. Therefore the best thing is – to learn the lessons critically and walk through the road towards the goal keeping lessons in mind rather than the literal content of the message.

    I thought to write about four noble truths and eight fold path, then I asked myself, does it make sense to connect everything of Buddhism to Business or literal Buddhism to Business? Is not it important to concentrate on messages and see whether it fits in the business context?

    * Apologies, if I hurt someone’s belief, though I didn’t intend to do anything like that.

  • Learn Non Stop, continued…







    In continuation of my earlier blog on the mistakes I made in my MBA and what I learnt, I received responses from my friends specially would want to mention two here – Sanjan and Prof Subba Iyer. Thank you both for taking time and responding to me. I talked to Sanjan and here is what he wrote to me (I liked it and asked if I can post that on my blog?), so here is what he write – …I have always believed that every mistake you make in your life is like a beacon which guides you constantly on to the right path; the only condition being you got to interpret that beacon in a correct way and bingo! There comes into play your prudence and judiciousness.

    Thank you Sanjan for the kind words. So here are next few mistakes and what I learnt from them.

    7. In management nothing is black and white (especially in marketing, the engineering mind with numbers always thinks in binary); learn to differentiate between gray and grayer (Prof Lopez, had a tough time teaching me – an engineer – this thing)

    8. Try to do the most challenging thing. I always thought since I didn’t watch TV for many years now, I cannot help making good advertisements. In the class of Prof Sohan Shah (Marketing Communication) making advertisement concept used to be a challenge and I used to shirk by doing other team assignments. The very next week of the end of Marketing Communication course our team (Ankit Jain, Kaushik Deb, Sandeep Shukla and I) was adjudged second-runner in Ad Mad competition.

    The reason I believe is, there was just one thought in our mind, we have to do this no matter what. We saw other teams making far better videos and we knew our team does not stand a chance in terms of videos, yet there was only one thought in our mind – we will stand there and present what we have in our mind. Thanks to the Branding Club (Swyl Saksena, Sahil Lihala and Neha Saini) you helped me imbibe a lesson.

    9. Consistency, this was the reason for being judged as the second runners in the event. Consistency matters in day-to-day life too. It does not mean that one has to be consistent wherever he/she is, consistency means improving consistently

    10. However small is the idea, stay with it, nurture it and try to explore possibilities. Our team (Neha Om, Murtaza Bakir, Shafaat, Tarun Kushwaha and I) worked on a business plan which prima-facie was “hum!”, “ok”, “yes we can think of this” at last won best business plan in an open competition

    11. Whenever something goes wrong; review, review and review what went wrong? Mistakes are the best tools to learn.

  • Journey itself is the destination, so learn non-stop…







    As a ritual which every B-school aspirant has to perform, I also wrote B-school essays before joining my MBA program. I remember one of the phrases of one essay the most – “…making mistakes that will cost nothing in a classroom environment…”. I knew I will learn from the mistakes as well. I feel, a failure teaches long lasting lesson then a success. I have learnt a lot from the mistakes during last couple of months. I am sure, I am going to live with and implement these learning in coming time.

    With a lot of disappointment I started writing this blog after my exam of Pricing Strategy. Then I realized thank god I did not commit the mistake in business; one incorrect pricing and revenues and profits take a beating. I started writing my mistakes and learning, so that I can revisit what I should not do and what I learnt. This would remind me that the Journey itself is the destination, so learn non-stop. Here are few of the lessons –

    1. Never believe in the forecasts, forecasts are correct hardly 15-20% of the times. I bet Murtaza and Avanii would agree with me 100% on this.

    2. Start early (in B-School simulation too), starting early and keeping the momentum going; it helps

    3. Always have a “to do list” and prioritize work – for this I wrote funny statement which only a few could understand “Tomorrow is your exam (sense of urgency), day after tomorrow you will die (prioritize your work, before dying what would you do?)”. I used to do this but here in my MBA this has been reinforced to an even greater extent

    4. Failing to score well in exams is alright, but failing to learn a concept and missing to use concept is a punishable offence – “a crime”. I learnt pricing strategies concept, explained the same to my friends and yet in the exam forgot to apply that. There is no ifs and buts for this crime

    5. I always write my blog on one concept ‘collaboration’, I observed this in outside world, I used it a lot in my MBA and that is the way for the future of businesses

    6. Ask questions, better to be stupid for some time. I have been stupid in some classes (recently, in class of Prof Lopez and Prof Ram Kumar) but that is better than assuming something incorrect

    To be continued in next blog…

  • Balancing act… continued!







    Recently, I wrote about the ‘balancing act’ based on the story of the Buddha. I started observing the concept of balance to a greater detail when I received the story from Prof Mankad, and here are few pointers in this continued blog.

    What I have realized in my studies lately is, the “engineerish thinking” (numbers all the time all the way) is not the end in itself. Marketing has long been a function requiring creative thinking. Long time back – before my joining my MBA – someone (talking to me) made a remark – ‘marketing is a bottomless pit, you do not know the return on investment etc etc. Now in the era of result orientation everything is being measured and therefore the results are key for marketing departments too’. Here again creativity should not take toll on numbers. Thus, a balance has to be made between being creative and being critical for return on investment.

    Second thing what came to my mind with reference to marketing, and in general to all of us, was perceptions. While communicating to outside world e.g. marketing companies try to play on ’emotional’ hot button of target audience yet want to be analytical of the effect of the marketing efforts. Again the balancing act comes into play based on the perspective inside out Vs outside in.

    In case of say leading teams, one needs to balance. Leader needs to involve and empower his team at the same time guide when anyone needs help (I wrote about this earlier in blog Growing and becoming leaders). Thus, a balance has to be made between giving power to take decision and taking control of situations when required. I had few things in my mind regarding the same in the language of TRIZ. In TRIZ there is a principle called separation on condition (giving control and taking control based on condition) for such cases. I would write more on application of TRIZ in marketing and sales in some other blog.

    Changing gears, in personal life we manage relationships. At times these relationships come to such a point that we need to act as a funambulist (tightrope walker) to sail through the rough patch of managing the relation. So, balancing act continues throughout the life.