GMPians travel not to go anywhere, but to go!

Sometimes GMPians prefer to take the path less travelled. For they know that in every walk with nature they would receive far more than what they seek. They drop their suits for sneakers and wander around with their backpacks. Backpacking, they discover en route is more the art of knowing what not to take but they trudge along nevertheless knowing fully well that joy lies in the journey and not the destination.

FG Manufacturing: Celebrating the diversity of GMP!!

Aluminium, Automobile, Oil & gas, Nuclear, Steel... you name it, we have it in the focus group of XL GMP 09-10, FG Manufacturing. The objective of the group is to tap into the knowledge pool of the diverse members of this group so that all can benefit from it. It is a meeting place of professionals from diverse backgrounds and this FG serves as an excellent opportunity to gain an insight into each industry. Prof. Rajiv Misra had said that it is very important to have knowledge about 4 to 5 core sectors to develop a holistic perspective. FG Manufacturing aims to do so!!

Walk the Talk

We, GMPians had preivlege to listen to Mr Malli Mastan Babu's brave and inspring stories. Sachin Rawat has already exqusitely covered the talk in previous post http://xlrigmp2010.blogspot.com/2009/09/led-by-free-will.html Thanks to Prof. Munish Thakur for inviting him to address us.

One Night @ XLRI

our GMP Hostels. Pics courtesy: Anindya Sengupta

Its 100 not out @XL!!!

Ohhh... It almost slipped through my mind.... today is the hundredth day at XLRI for GMP 2009-10 batch..so congratulations to all of us (including me) for making to the hundred mark!!

Since its a ritual to look back on all these kind of occasion..let us do the same...let us give a hard look at those 100 days.. are we better off or worse off?.. Are those pre-XL days (read days@our work place, our ex-colleagues, babes and bosses) still very much alive in our minds?

Well, everyone has his or her own opinion... but I am sure one thing everybody of us will agree... that each of us here has made ninety five new friends!!!.. Now, isn't it a wonderful thing? If you are still not convinced, I will request you to do a with and without GMP@XL analysis :-)

Lastly I want to share with you one great thing I learnt about XL on my hundredth day. That learning goes like this:

Generally in the outside world if you bump into a girl (unintentionally or otherwise) what do you expect to get? Yes.. you guessed it right.... a tight slap on your cheek. Today I had the misfortune to bump into a lady while I was coming down the stairs from gymm. in the morning... it was absolutely unintentional... Nevertheless I expected a hard look at me from her if not a slap (as far as my prior experiences go!!)...But to my utter surprise the lady smiled at me, said sorry to me and stepped aside to give me space to pass!!!! But in my utter state of confusion, I forgot to return her courtesy :-(

At XL over everything else we learn to be courteous to others..and that makes this institute so great a place of learning!!

Led by Free Will

[An account of a talk delivered by Guiness record making mountaineer Malli Mastan Babu]

Malli Mastan Babu’s eyes exude energy and passion as he talks to students of the General Management Programme in XLRI, Jamshedpur, about how, often against all odds, he scaled peak after peak, in the process becoming not only the first Indian but also the fastest person in the world to scale the highest peak in each of the seven continents. He did it because he had chosen to do it, because he wanted to do it and believed that nothing should come in the way of his own free will.

All GMPians had experienced during our outbound programmes with the Tata Adventure Sports Foundation, the heat of challenge, teamwork and leadership challenge that adventure sports generate, and Malli’s tryst with serious adventure sports kicked off with the same foundation when he was a student of engineering in RIT (now NIT), Jamshedpur. Malli however had the drive to literally scale the highest mountains all over the globe. Being an engineer and a management graduate from the prestigious IIM,Calcutta, he relates his learnings to students of management the decision making and motivational trials that we all must face whatever be our walk of life.

Just like Jonathan Livingston Seagull, this scholar became the object of much ridicule and peer pressure when he took the daring decision not to participate in the placement activities in IIMC and set his sights on scaling Mt.Everest instead. Malli says “People will call you as insane or label you as irresponsible. Overnight ,you could feel like the outcast in your own neighbourhood. The psychological hurdle is the first and perhaps the biggest one. But I had attained escape velocity, escaped beyond the restrictions placed by conformity. You too must escape the restrictions of your need to conform, only then can you be free to achieve what you really want”. To opt out of a lucrative career , taking huge financial liabilities, without any experience in serious mountaineering would baffle anyone trying to assess the risks and benefits, even if the risk of mortality and the value of human life were ignored (but then, what is life without will?). Just the financial costs were staggering. Mastaan however valued above all the freedom to chase his dream. Not that he was rash- he realistically assessed his strengths and weaknesses and meticulously planned to acquire the skills he would need; what tipped the scales however was his desire to explore and stretch the limits, which was much greater than the limitations.

To say it was ‘difficult’ is obviouisly, a gross understatement. Financial assistance was not forthcoming and Mastaan had to use all his enterprise in raising funds, even taking large loans which another person of his modest means might see as a crushing burden or in other words, a non-option. Just as he had made his plans, the Indian Army too announced its expedition to the seven peaks. Rather than be daunted by the appearance of a new rival who had vast resources and institutional support, Malli saw that his competitive advantage lay in his flexibility of decision making. He believed that the Army would take time to make arrangements for its large team, that the progress of the team would depend on its weakest link and above all, he refused to accept that the motivation of every member in that (or any other) team could be more than his personal drive. Myself being a whitewater rafting enthusiast I can recall the formidable reputations that teams of the Indian Army enjoy, still It is difficult to fully comprehend the confidence, willpower and insight into team dynamics which enabled Malli to see his strength in factors that someone else might have viewed as a hopeless disadvantage. In fact Malli says that going solo is immensely satisfying because you can really test your limits and because no one else makes your choices; you really are free of most external influences. It reminds me of Ayn Rand’s philosophy that he who does not want to make decisions, who lets others decide, is in truth living a second hand life.He says it also gives him more agility and determination than large groups. Once, when he could only get a visa to Argentina for a short duration , he scaled the Cerro Aconcagua (at 22,834 ft Argentina's highest mountain), he climbed it in only 8 days and climbed down in just one day (other expeditions took more than 20 days). By his grit, flexibility and unconventional thinking, he created alternatives and new options where none seemed to exist.

“There is always an option.” Says Malli, “ It may be a difficult choice, but you must choose what you really want” He exudes an aura of confidence ,of sheer raw and free spirit as he adds “If you do not exercise your choice, you are not free”. Whether we play the role of a sportsperson, manager or a citizen, we are faced with decisions, often risky. What we choose embodies our desires,our will and our values. What we choose makes us what we are.

-Sachin Rawat

sachinrawat1978@gmail.com

Teachers' day

We love them, we disagree with them, we irritate them and we believe in them. We just can’t have enough of them. Such is the importance of teachers in our lives, we just can’t ignore them.
Indeed, the relationship with teachers is special .From time immemorial our culture has highlighted the importance of teacher. In Mahabharat, Eklavya believed that even his thumb, essential for using bow and arrows, is a small price for his archery training. Vivekananda spent his life promoting the message of his teacher Swami Rama Krishna Paramhans. And for those who believe that these relationships are story of yesteryears, this is what Google founders have to say for Mr Rajiv Motwani, their teacher and mentor, after his death-
''Today, whenever you use a piece of technology, there is a good chance a little bit of Rajeev Motwani is behind it.''
GMP batch incidentally did not take long to recognize the contribution of our professors. So the batch decided that it is an ideal opportunity to thank those who change the course of our lives. A small teachers’ day get together was organized on fifth September at GMP dining hall.
Everybody dressed up for the occasion and the eagerness to welcome our mentors was difficult to contain. Teachers, families, students, other guests were all a unit within no time. What followed could be termed only as bliss, a state of profound satisfaction and joy. Everybody was involved wholeheartedly in the various games and activities that followed. Individuality succumbed to the environment of commonality. It was the religion, of oneness, that each involuntarily converted to and the enjoyment thus grew many folds.
Time but was envious and it just flew by. A gradual depopulation engulfed our venue and the gathering withered. The party ended.
What remained, but, is here to stay. All of us are deeply indebted to our teachers for sharing their valuable time with us. This interaction has increased our respect and trust in our gurus. There are innumerable support systems for learning, but the student – teacher interface is by far the most valuable. This get together has strengthened this interface and we plan not to miss any opportunity to increment this strength.
Bill Gates said,” “Technology is just a tool. In terms of getting the kids working together and motivating them, the teacher is the most important.”

We love them
We love them
We love them . We just can’t have enough of them.

POSTED BY ANKIT AND PRACHEESH

CEX and FOREX

The CIA had for a long time covered up its ‘black bag work’ - illegal jobs such as breaking into embassies , often employing exotic tools (miniature cameras, eavesdropping equipment etc) and weapons (poison gas pens, toxic paints, IEDs etc) – for fear that it might arouse public outrage and young people might stop considering it as an ethical career choice. However, when these techniques were eventually officially made public, the number of applicants aspiring for a job in the Agency skyrocketed. Why? Because for years, the public had been made to believe that James Bond Novels and movies were impossible fantasies, that the technologies depicted in them could not exist even in the next few decades and that the government would never authorize acts that Bond routinely did; now, suddenly, a person could legitimately aspire to live the life of a Bond.

In 2004 , John Perkins in his book “Confessions of an Economic Hitman” described his role as an ‘Economic Hitman’ -a consultant to several Governments and their Heads of State, an advisor whose real job was to economically exploit and debilitate his clients in the process of ‘developing’ and ‘aiding’ their economies. He was seduced into the job which held glamour and power, intrigue and beauty, untold wealth and generations of dependence. I do not know whether his ‘confessions’ (which are no less interesting than a spy story, replete with tales of Middle-Eastern palaces and doe-eyed beauties) tempted more budding economists into the profession or discouraged them. However, the book does show the impact a single economist can have on the development, the politics and the destinies of several nations.

Money is a unique commodity in that although it is intrinsically worthless, it is a store of value. It can attach tangible values to desires and powers. The desire to have, to give, the desire to do can be quantified in terms of money, as can be the powers to satisfy these desires. Hence it is the common denominator in most, if not all (this is debatable) human activity. Economics, then, is the common thread that runs through almost every discipline of study- not just management but also philosophy, ethics, governance and leadership. By determining what we are willing to sacrifice in order to get something, we can attach a value to it, and economics can guide us on how to maximize this value. Fundamental to this process is making the choice of what we really want most, or that which we would not give up at any cost or price- it is this choice or (set of choices) that defines our value system. In ‘The Prince’, Niccolo Machiavelli describes the dilemma that what appears best for an individual may not be best for the society and observes that the king must deal with this dilemma at every step while carrying. The question of determining at what point the ‘greater good’ should supersede the welfare of an individual is as fundamental as defining our ‘fundamental rights’ and really how fundamental they are. There are democratic methods in economics which are being used to answer such and related questions.

Is it more important to find a cure for cancer or for tuberculosis? Is democracy really better than autocracy? Should a person give up his life for the society? What really is his society? Should we bother about these questions or just make a lot of money? Economics offers the hope of answering diverse questions. At a macro level, it is applied by nations to maximize growth. At the micro level, it appears in the form of game theory which can be applied to a single transaction, even a simple bargain. Indeed, the theory can even be applied to politics to determine whether dissenting members of the party can rebel and form a breakaway faction; this knowledge can help the politician to determine the size and constitution of his ‘core’ group.

With a view to providing a common platform to those associated with XLRI interested in finding answers to such questions (and more such questions), a place where they can meet and exchange ideas, we, the students of the 2009-10 batch of the General Management Programme in XLRI envisaged the formation of ‘The Club for Economics at XLRI’, or CEX. However, led by the democratic spirit that is ingrained in many students of economics, we decided that it be better to build it not as an exclusive club but rather, as a society or a forum which will embrace and even reach out to all who share the passion for this quest , and thus was born the ‘Forum for Economics’- a forum for sharing ideas, asking questions, for observing the environment from an economics perspective, for studying policy, ethics, and for finding tangible solutions to problems .

In less than one term, it has become a vibrant forum of enthusiasts who regularly meet and discuss, make presentations, debate, bounce ideas and work on projects. We are pleasantly overwhelmed by the support and participation of students who are contributing to generate value in the Forum. Like in any other startup, at first one has to put in something and create value. The quality and number of ideas generated are indicative of the substantial amounts of creative faculties that the GMP students are investing in FOREX. On popular demand we have decided to intensify our activities by taking up larger projects and also to reach out to more people to generate more ideas and interest in economics. You can expect a periodic newsletter with updates of our activities and ideas soon. Those who would like to know more are welcome to contact us.

Negotiation Case

Negotiation Case

It was evening time on 17^th August, 2009 when a SMS dropped on the mobiles of 8 shortlisted GMPians. We were carry out an exercise on negotiations with a group of 20 students undergoing Global Executive MBA (GEMBA) program from Saint Mary’s College of California. Prof. Shyam Kamath of the School of Economics and

Business Administration, St. Mary’s College of California, USA and Ms. Darcelle Lahr, Lecturer in Strategy at the College of Business and Economics at CSU, East Bay, USA had developed a case under Global Executive Negotiation Program (GENPRO). The case involved negotiation to be carried out between an Indian Public Sector Undertaking (namely India Semiconductor Corporation) which has planned to set up an in-house power plant and an American Firm (namely California Power Development Corporation) who were the shortlisted vendors for the plant. A group of 20 students of XLRI were divided into four teams with 5 members in each team to represent the Indian firm i.e. ISC. All the four teams had to strategize and conduct negotiations with the American teams. The Indian teams consisted of students with a diverse background with zero to thirteen years of work experience. The American team comprised of senior executives with an average work experience of 17.5 years.

Process of the Negotiation Program

The entire progam was divided into five phases. These are as under:

Phase I : Formation of groups and informal introduction over dinner one day before the date of actual negotiations.

Phase II : Formal introduction of the exercise by Prof. Shyam Kamath if St. Mary’s College, California and Prof. Jeetu Singh of XLRI, Jamshedpur.

Phase III : Teams carry out actual negotiations in separate rooms. Though efforts had to be made to close a successful deal but not sealing a deal would also succeed if the teams avoided a bad deal or concluded that more time is required.

Phase IV : The complete group re-assemble with the Professors and discuss their negotiation experience and learning.

Phase V : Further sharing of experiences in an informal way over lunch.

Objectives of the Negotiation Program

The GENPRO program was designed to achieve the following objectives:-

1) Enable mid-career executives and managers to learn about the fundamentals of negotiation in practical, applied context.

2) Enable participants to understand the cultural dimensions and barriers to negotiation and learn strategies to successfully conduct cross-cultural negotiations.

3) Deepen understanding of how to negotiate in a Win-Win mode rather than a Win-Lose mode and to successfully deal with a host of general and culture specific negotiation tactics.

4) To learn in depth regarding the cultural dimensions and negotiating styles of Americans and Indians from the other’s point of view.

5) To learn-by-doing and participate in a structured but open-ended negotiation exercise based on real-world case.

Experience of the Negotiation Program

The program provided a very enriching experience to all the participants at XLRI. After having a sumptuous meal with the guests at MDP residence the teams started brain storming to understand the case and come up with strategies to negotiate a good deal with the Americans. The discussions went on to 3.00 in the morning of 18^th August 2009. After catching up with some sleep we assembled in the hall at 8.30 AM. Professors carried out a brief introduction to the case after which we were again given time to plan our strategies for an hour. Then real negotiations commenced in separate groups of 10 with 5 students representing the American side and 5 representing the Indian side.

All participants thoroughly enjoyed in making all out efforts to negotiate the best deals for their organizations and came up with all kind of financial and operational innovations. The American and the Indian sides were given separate targets which they needed to realize through the negotiations. Some of these targets were competing in interests and generated a lot of deliberations and discussions. In all the two hours of negotiations exposed all participants to the various dimensions of cross cultural negotiations and the differences involved in negotiating with people belonging to diverse cultures and mindsets.

After the negotiations were over we all contributed through the experience gained in the entire exercise. It was evident to all there were marked differences in the way Americans and Indians thought and negotiated. While Indian side was found to be more directed towards cost the Americans were seen to reflect more on the total project dynamics. Indian team was able to keep many options under consideration while the Americans were more focused on step by step approach.

In all from the exercise both sides could well appreciate the role cultures played in the way we negotiate. Further elucidations by both Professors help us to gain knowledge regarding the skills required to ensure success in a negotiation involving members from various cultural and social backgrounds. The Americans had earlier done a similar exercise in Austria and could thus appreciate the ease of communication with Indians because of their similar democratic and open culture profile.

Truly, the exercise on negotiations was a rare opportunity which can only be accessed at premiere institute like XLRI. XLRI is known to give high emphasis on people management and such exercises go a long way in to reinforce this image.

The Term 1 that was!

Term 1 of my GMP@XLRI has come to an end. What an eventful 3 months it has been. I have never been this much stretched and sleep deprived as I have been in last 3 months. Jumping from one assignment to the other, running for marketing project meeting to ELCC ,MANAC, Macro,Micro Economics group meeting, it has been a true roller coaster ride with surprise element built in every moment.

Classes/Studies: On an average we had 3-4 classes of 1.5 hours each. Sometimes it felt it is too much to do with case reading for marketing, Ethical leadership, management accounting practice and of course revision of dreaded classes of Quantitative techniques for Managerial Decisions to complete. Some subjects were taught by multiple professors, hence multiple midterm exams along with end term exams. With a day’s break, term 2 has begun and it seems it is going to be lot more hectic than the 1st term.

Exams: XLRI is very academic oriented Business school but focus remains on basics and applications. The biggest surprise element of XLRI is marquee list of Professors. Profs Make sure students read come prepared and perform at the highest level in various exams and quizzes. Lately, competitive spirit has taken front seat and everyone is talking about grades, marks etc. People say it is all only about leaning and not grades but culture of marks, grades, academic orientation builds in when Professors force you to study hard and remind you of exams in every class. Every exam is different; Standard of exam papers was very high in most of the courses in Term 1. Some exams were open book and some were closed book. Don’t ask for performance in open book. Open book doesn’t mean you will sail through instead you will struggle more than the other format. Only one professor, Prof. Sarosh Ghandy didn’t take any formal exam but he had his unique ways of asking us to submit answers to various questions on Ethics and Leadership on A4 sheets of paper.

Myth: B-school is all about partying, extra circulars: this myth was broken in first fifteen days when I started to realize that I don’t have time for any other activity other than studies. One needs to be incredibly good at time management to manage academic and non academic studies.

The CR factor

I have always been on the opinion that Bschools are perfect ground for networking, peer learning, managing conflict view points and learning prioritization. I have been fortunate that class reposed faith in me in selecting me as Class Representative. I am not sure how class evaluates me but I have tried to do justice to the job. Class Rep is a bridge between professors and students. There have been moment of high adrenaline, excitement, anxiety, frustration, dissatisfaction but overall it has been marvelous experience to manage 48 (strength of my section) of different opinions. Sometimes it becomes huge distraction, many a times you can’t concentrate on your individual priorities but it has made me realize why things move slowly in a democratic setup. Hats off to Indian growth despite Indian plurality and democracy.

CEO visits, guest lecture:I had opportunity to attend gyan sessions of CEO of Airtel, Bihar and Jharkhand, CEO of SELCO, Dr Harish Hande, CEO of Goonj, Anshu Gupta and TATA Tiscon Branding guest lecture by Mr. Sharan from TQMS. One of the professors even humorously pointed me that I skipped his class to attend these CEO visits. It has been inspiring to know the exemplary work done by Dr. Hande and his team in areas of solar powering of Rural Karnataka and Anshu Gupta’s team. I remember his chilling narration left the whole CII YI team, (which I am part of) in pin drop silence. His words were of utmost disbelief to us.

CII-YI: Four GMPians got chance and were selected in CII Young Indians society of XLRI. We have already organized Kshitij, a one day event for underprivileged school children. I am not very satisfied with my involvement till date as it has been limited because of academics and exam. I hope to compensate for the same in Term 2.Online group: I am part of the Online group which handles online branding –Blogging, Newsletters, marketing GMP in online space, connecting with prospective students etc. So far the groups’ performance has been satisfactory and but we need to speed up the activities.

Accommodation:The first welcome surprise was Accommodation. Hostel accommodations are very comfortable with AC, phones etc. The housekeeping staff is excellent. Although people have varying opinions about our mess food, but I have liked it very much and no complains at all. In fact, our GMP Mess committee members are doing a commendable job by keeping tab on quality, menu etc.
Parties

The academic pressure has not made us drab personalities, in fact we have had 2-3 parties, Thanks to our Party/Admin committee members.
Village Trip

XLRI’s focus on social entrepreneurship is commendable. A 3 day trip to villages is mandatory for all flagship programs. I along with my group happened to go to three tribal villages and was awestruck with grim realities of rural India. We had to walk for an hour to cross a mountain to reach the one of the villages. The village didn’t have electricity, road, school, primary health care centre but had lots of hope that things will improve for them one day.
Adventure Trip

The Adventure trip organized by Tata steel Adventure foundation was life time experience. Various Team building exercises such as Rock Climbing, Caving, self made rafting on Dimna Lake was truly amazing experience. These events not only helped us understand each other better but also helped us explore our limits.

Today is the first day of Term 2. Human resource management case writing projects need to be formed; I need to read about HUL’s Sangam initiative and solve a question in Optimization in Managerial decision making for tomorrow’s class. I hope term 2 to be as exciting and promising as term 1 and to get some time to scribble few lines on the blog…….