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Techno Finance and Executive Diary

Techno Finance and Executive Diary


Provides a insight over latest financial concepts important for TOP Executives. Important corporate topics which may be applied in various meetings and discussions. Disclaimer: Thanks to web/its writers..I have researched and found relevant and useful information and I am sure that viewers will find them interesting.

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Friday, January 19, 2007

Yes, Boss


Dr. Debashie Chatterjee who is a Professor at IIM Lucknow contributes articles in the Times Ascent under the section Success Sutras.
The articles are so practical that you can relate them to your work life and to yourself. I’ll be including these articles in the Management section for our readers who do not have access to Times Ascent (supplement of Times of India newspaper).
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Innovation is a novel idea that sometimes works - like purple hair or a motorised bullock cart. But innovation rarely works in a boss-subordinate relationship. In most jobs you are no more than a factor of irritation, if you are not a factor of production. The boss is the cowboy and you are the cash cow. He calls the shots and you hit the target. He whistles while you wither in excess work. He flies to corporate retreat in Hawaii. You slog in a shop in Powai!Suppose an innovation idea hits you one moronic morning in the office. The adrenalin surges inside you like a bullish market. You will find that the greatest road block to your innovation will turn out to be that blockhead you call “boss”.

One critical aspect of managing your boss. In boss management, remember these cardinal principles:

1. The boss will always trespass on your geography if you want to create history.

2. If you have the germ of innovation swarming in your head, the boss will act like a vaccum cleaner.

3. It is easier to say sorry later than to ask the boss’s permission for any history you want to create.

4. If your innovation fails, fix the blame on the ecosystem, digestive system or the planetry system.

5. If innovation succeeds, give your boss the credit and make him feel like Thomas Alva Edison.

Your only way to succeed is therefore to make your boss successful!
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Tuesday, January 16, 2007

Dhirubhai Ambani: "Think big, think fast"



Dhirubhai Ambani: "Think big, think fast"

Dhirajlal Hirachand Ambani is not just the usual rags-to-riches story or a Reliance patriarch but will be remembered as the one who rewrote Indian corporate history placing the ordinary investor on the perch and building a truly global corporate group in the country.
Popularly known as Dhirubhai, the 70-year-old Ambani Sr, also changed the rules of the game in the industry in an era when the private sector was hampered by the Licence regime, even if he had attracted criticism that he did not always play fair. There is also the story of how the Ambanis blocked publication of a biography titled The Polyester Prince written by a foreign writer because they threatened legal action for anything they perceived as defamatory in the book.


Think big" was his refrain and "I am not a loser" was a phrase that epitomised this man behind the Reliance Group which started as a textile manfacturing unit but made its name later as a leading petrochemicals producer diversifying into petroleum refining, telecom and information technology sectors. Now employing a workforce of 85,000, the group's Rs 25,000 crore integrated Jamnagar refinery complex in Gujarat houses the world's largest greenfield project with a capacity to refine 27 million tonnes of crude every year. Willpower is something the boy from Chorwad village in Gujarat, who set off for Aden at the age of 17 to seek his fortune and ended up creating a Rs 60,000 crore group, India's largest business house, has in abundance. Venilal Estates Building, 3A, in Mumbai's congested Bhuleshwar, remains the nondescript five-storey chawl—surrounded by saree shops and handcart vendors—that it was in the '60s when the seven-member Ambani clan lived there with a family friend in a tiny one-bedroom flat.
Armed with a Matriculation certificate, he went to Aden only to return with a big idea of owning a petroleum company - used as he was to a job of filling petrol in Shell service station. He returned to India in 1958 with Rs 50,000 and set up a textile trading company. The Ambanis moved on. Says elderly Ramchandra Belgaonkar, a tax consultant who lived next door: "They slept on the floor and had no telephone or car...like the rest of us." Anil Ambani was born here. The Jariwala family's residence was one floor above, and they were among Dhirubhai's first business contacts in the city. Indeed, so strong has Dhirubhai's charisma been that investors often overlook the fact that in the last decade, while Dhirubhai was withdrawing from the group, Reliance was growing at a compounded rate of around 35 per cent a year—a feat unparalleled by any other Indian corporate house—and that the Patalganga and Jamnagar projects were built by his sons, Mukesh and Anil. As news of Dhirubhai's stroke spread, Reliance shares fell but saner voices agreed that it's just a knee-jerk short-term reaction.


Dhirubhai Ambani passed away on Saturday night at 11:15 pm at the Breach Candy hospital in Mumbai. The Reliance patriarch was admitted to hospital on June 24 after he suffered a cerebral stroke. Subsequently, on June 25, he suffered two heart attacks and since has was on life support system. Ambani's funeral was held in Mumbai on Sunday evening. Politicians, captains of industry, the film world, down to the ubiquitous common man -- Dhirubhai’s demise has left almost no section of Indian society untouched. The collective outpouring of grief is a measure of the amazing influence that Reliance Industries, the Rs 65,000 crore industrial empire Dhirubhai built single-handedly, commands today. Thousands thronged to take part in the final journey of one of India’s most famous sons.

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