Quote I Like

Karmanye vadhikaras te
Ma phalesu kadacana
Ma karma-phala-hetur-bhur
Ma te sango ‘stv akarmani
-The Bhagvadgita, Chapter 2, Verse 47

"A man’s karma is to forever turn the wheel of life towards a better future for all."

Ravanan as a teacher to Ram

"Remember, it is the nature of the ignorant mind to be drawn towards things that will cause harm and to avoid things that are good.We must remember that what tempts us will in all probability be the cause of our downfall. What we shy away from, what we procrastinate about, probably is what will help us evolve." - words said by Ravana to Lord Ram.

Dressing

Eat to please thyself, but dress to please others.
-Benjamin Franklin

An Executive Interaction

When I came to know that EIP is going to be conducted by Mr.Pamod Sardar Joshi at first I didn’t know what he’s going to speak about with the topic From “Purani” Jeans to “Armani” suits. As soon as he came he displayed that the topic going to be presented is “SUSTAINABLE ,HIGH-IMPACT LEADERSHIP” I was attracted towards the topic. He started up with a story and gave a note that “When the Sun comes up you had better be running”, I learnt that every person should work harder towards their goals else the competitor would lead you in any way. This is similar to corporate. He gave it with good examples of corporate like how Oracle takes over 23 companies in 30 months.

A Brand is built on the basis of Trust, Value and Consistency in providing service similar to corporate a management student has to build his own Brand. He pointed out that a person shouldn’t have the chalthae attitude in any work he does, meet the deadlines and manage time efficiently. The market in which we are now is at high speed either a person should be able to cope up with it else wind up his work.
“You only learn who has been swimming naked, when the tide goes out” – Warren Buffet
The above quote gave me an insight that student should be prepared to face adversities in corporate.
Every MBA student should have a Quintessential Differentiation; he should have his own way or style of delivering anything which many people call it as USP. He gave more emphasis on knowing the basic concepts of management which is essential for any management student entering corporate.
He came out with what are the 8 future challenge, they are:

1. Development to retain best talent.
2. Anticipate changes.
3. Management of talents.
4. Improving Leadership development.
5. Managing work life balance.
6. Analytic/Demographics/Science.
7. Managing change and Transformation.
8. Managing Globalization.

Also he said about the three worlds of corporate

• Small is beautiful
• Corporate Social Responsibility
• Corporate is king

“We cannot choose our parents or choose the corporate in which we are going to work”.
Some of the blockages which prevent a management student from getting ahead are:

• Fear or insecurity.
• Not seeing that there is a problem.
• Unwillingness to take risks.
• Poor communication skills.
• Public speaking fear.
• Unclear Personal goals.
• Low creativity.
• Inadequate problem solving skills and
• Low influence.

A Leader should have the following qualities

• Conviction
• Character
• Courage
• Composure
• Competence

“Only Person who always likes change is Wet Baby” - Leslie J. Flanders

At some point I came up with a question that “Why Foreign companies alone set standards, when does an Indian company set standards on its own?” which rang up in my mind. When I asked this he gave an explanation with Indian corporate example like Infy, Wipro and Future group. He also asked a question that “what way do you say that Indian companies are following the foreign companies?” I was unable to answer to this question, this he related to how a MBA should be while interview he should be assertive able to answer any questions with right sense. I also learnt about my weakness. At some point he said that “It is all how we react to situations matters”. Body Language is another key for success in an Interview; a person’s walk determines who he is. “If you are done well here you will do well out” which was said that give more importance in what ever you do in your college, it would some way help you in corporate. For Entrepreneurs he pointed out that they should target the bottom of the pyramid in order to have a good future.

For a person to be successful in corporate he should understand himself and understand the company. He gave a formula:

PQ= fn (IQ+EQ)*SQ

Where,
PQ- Personnel quotient
IQ- Intelligence quotient
EQ-Emotional quotient
SQ-Spiritual quotient

It can be understood that Spiritual Quotient is the important thing on which a person should give more importance along with Intelligence quotient and Emotional quotient. He pointed out its essentiality with examples of Lehman Brothers. Inner Mastery is needed for any person to grow in life. A persons mind, body, heart and soul should be focused on achieving the goals of his life. He concluded with the statement “BE HAPPY”.
“Test fast, Fail fast and adjust fast”

Reguirement of an MBA

Three things are required for an MBA:
1.Discipline (in what to do and what not to)
2.Industry Knowledge and
3.Self Analysis (knowing thyself)

These were said by Bosch Regional GM Mr.Venugopal.

Power Talk: Dr Devdutt Pattanaik

Know About Your Cheque

Many of us frequently use chequebooks to pay for all kinds of things. But do you know how to read a cheque beyond those first six digits, known as the cheque number? What do other numbers on the cheque say and how do they help the banking industry facilitate the processing of cheques? Here is a lowdown on chequebook and some banking jargon:

First six-digit block: It is common wisdom that the first six digits on your cheque are your cheque number. It is important to note the number because if your cheque gets lost or the money has not been credited, you can know the status of the cheque by providing the cheque number.

Magnetic ink character recognition

Magnetic ink character recognition or MICR comprises nine digits, which are further sub-divided as city, bank and branch code. It works the same way as your home or office address, enabling your snail mail to reach you from far-flung places. But unlike your addresses, the banking address is all numerical, where:

1.City code:The first three digits specify the city in which you have a bank account.

2.Bank code:The next three digits of MICR specify your bank in thatparticular city.

3.Branch code: The last three digits of MICR help in figuring out the specific branch of the specific bank.

The nine-digit code is called MICR because it is printed with magnetic ink, which is usually made of iron oxide. Magnetic ink is used so that numbers are readable even if it is stamped over.

4.A/c with RBI: The third numeral block represents your account number maintained by the Reserve Bank of India (RBI). The number helps in cheque processing when it goes to RBI for clearance.

5.Transaction code: The last two digits at the bottom of the cheque help in decoding whether the cheque is current or a saving account cheque. MICR also tells whether the cheque is at par. It helps in processing an intra-city cheque as a local one with a faster turnaround time.

6.Drawee/paying bank: A bank making the payment.

7.Payee: The beneficiary to whom the drawer issues the cheque.

8.Drawer:A person writing the cheque.

Inward clearing:It is important to be aware of the concept because the type of clearing affects the speed of transaction. Inward clearing is for the bank that issues the cheque.

Outward clearing:Outward clearing is for the bank in whose name the cheque has been issued. The inward and outward clearing bank can be same if the bank that issues and the bank in whose name the cheque has been issued are the same.