tag:blogger.com,1999:blog-26733994046309100912024-02-21T09:04:25.871+05:30MusingsAnandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.comBlogger151125tag:blogger.com,1999:blog-2673399404630910091.post-91243673582245766632018-02-11T10:37:00.001+05:302018-02-11T10:37:46.773+05:30Business learnings from the move 'Mersal'In the recent debate on healthcare in India covering corporate hospitals, pharma drug regulation, medical devices price regulation at various points, universal health insurance etc, one key point has come about the medical profession. Usually, the practical issues in medicine are glossed over but this movie does take an indepth look on functioning.<br />
<br />
<ol>
<li>Due to information asymmetry between doctors and others, there is scope for unscrupulous professionals to take decisions that cannot or won't be objectively reviewed later</li>
<li>Trustees of medical hospitals need to fit the 'fit and proper' criteria otherwise the trust may not attain its objectives including original donor intentions</li>
<li>Low price clinics Like rs 1/5/10 doctors can survive like in Mumbai surburban railway(Thane) if rental cost is low(as depicted in the movie)</li>
</ol>
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Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com5tag:blogger.com,1999:blog-2673399404630910091.post-4281311272321018922018-02-11T09:55:00.000+05:302018-02-11T09:55:47.918+05:30Business learnings from Velaikkaran(2017 Tamil movie)I watched the movie(<a href="https://en.wikipedia.org/wiki/Velaikkaran_(2017_film)">https://en.wikipedia.org/wiki/Velaikkaran_(2017_film)</a>) and took away following key learnings<br />
<br />
<ol>
<li>Consumerism has a karma element to it-we are workers/employees for 1/3rd of the day but consumers for 2/3rd. What we do to others comes back to us</li>
<li>In health sensitive sectors like food, negligence or fraud is tantamount to murder. Hence, the potential support to death penalties for food adulteration as done in China</li>
<li>One needs to TRACK expenses to avoid monthly wasteful outflows </li>
<li>Merchandising in modern trade has contributed to consumerism, and online, the recommendation algorithm and placement window plays a like role. So unless we go with defined budget and shopping list, we run the risk of overspending</li>
<li>In regulatory clampdowns or general distress like strikes, it is the strong players who buy weak ones and consolidate-this is a trend seen in distressed assets sale also under insolvency framework. So relaxing competition laws should be done with care</li>
<li>Employee's pride in their jobs and wanting family to look upto them with pride, is a powerful tool which should be leveraged, and is done in TQM etc</li>
<li>Labour Day should be about labour duties and protections, not just for rights</li>
<li>As consumers, we should do informed purchases about what enters our body, even if Organic is costly or fad, we can avoid unhealthy stuff atleast like carcinogenic substances</li>
</ol>
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Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-91072274987089281192018-02-11T09:47:00.001+05:302018-02-11T09:47:40.334+05:30Learnings from the movie PadmavatThe movie Padmavat(earlier named Padmavati) focussed on the battle between Alahudin Khilji, Rani Padmavat and Raja Ratan Sen. The poem story can be read here <a href="https://en.wikipedia.org/wiki/Padmavat">https://en.wikipedia.org/wiki/Padmavat</a> I feel the movie makers stoked controversy for a movie which eventually glorified Rajputs. But that said, following observations<br />
<br />
<ol>
<li>All is fair on love and war-the seemingly act of treachery by shooting an arrow in the back in the ending scene, Khilji killing his father in law etc</li>
<li>Muslim invaders won as the Hindu kings had a misplaced sense of honour and chivalry as to not crush the conquered enemy, give a second chance, believe their word etc. Thankfully, the Christian and Hindu right have identified the war of civilizations and are fighting back on radical Islam as the threat to democracy</li>
<li>War technology(catapults, cannons) makes the difference-hence necessary to invest in defensive tech to avoid losing. Conventional or modern does not matter,but defence tech does</li>
<li>Friends turned foes can be deadly-for example the expelled priest Raghav Chetan. Though he was killed in between, but the damage had already been caused. </li>
</ol>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-33062941953436179642018-02-11T09:11:00.000+05:302018-02-11T09:36:38.433+05:30Business learnings from the Movie 'Padman'Yesterday, I watched the Akshay Kumar movie 'Padman'. It narrates the story of the brave entrepreneur <span style="background-color: white; color: #333333; font-family: "roboto" , sans-serif; font-size: 16px;">Arunachalam Muruganantham</span> (read more about the story here <a href="https://www.gqindia.com/content/pad-man-akshay-kumar-inspiration-arunachalam-muruganantham/">https://www.gqindia.com/content/pad-man-akshay-kumar-inspiration-arunachalam-muruganantham/</a>). Some key takeaways<br />
<br />
<ol>
<li>Sanitary Pads cost ~7-10 per piece vs the Rs 2 here. Still, due to brand and distribution, the branded players like Whisper still dominate. Why this low cost option is not a wide spread one in each village/town? Is it due to cost factor which lead Nano to fail?</li>
<li>Microfinance and women self help groups can afford the machine-good avenue for CSR</li>
<li>Often, the front face(women for such sensitive areas) and back end team should be different as happened in this case</li>
<li>Often, strangers help us as first customers/funders/adopters while our near/dear ones abandon us in time of distress. Akshay Kumar's character forgave all others but others may not</li>
<li>Break down a big problem(pad machine) into its 4 basic parts and it resolves itself</li>
<li>Award functions are a good way to get publicity for the winners and often justifies the potential waste on opex etc, its a pity its not used more often for such good causes</li>
<li> One needs to test one's work(eg play on a swing) before completing it, that is pride in workmanship. Also, unless one walks in the shoes of the customer, things won't work</li>
<li>For personal use items, brands are useful to cut the awkwardness. That is why unrelated words like Whisper, Durex sell well(Kamasutra/Nirodh being an exception :D)</li>
<li>An inventors journey is often a lonely painful one, and very few inventions are successful to extent of commercialisation. Patents can therefore make a life and are the 'moon shot' reason for scientific tinkering(in the non creative space that is)</li>
</ol>
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Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-9234465304096436822017-10-20T14:16:00.002+05:302017-10-20T14:16:44.893+05:30Timeshare in the age of Oyo, Airbnb and OTA-does it still make sense?<div class="MsoNormal">
<a href="http://www.tflguide.com/club-mahindra-membership-fees-review/">http://www.tflguide.com/club-mahindra-membership-fees-review/</a> This excellent blogpost makes the point that memberships of Club Mahindra, Sterling, Country Club etc have hidden fineprints and costs, which make it difficult to avail it. For example, non transparent reservation of rooms, non alignment of incentives between members and owners once timeshare is sold, active resale market at 30%-50% discount etc. Also, with the Indian hotel market developing due to OYO, AirBnB and OTA(GoIbibo, MakeMyTrip, ClearTrip) and quality standards going up, it is no longer difficult to get basic quality standards met. Some of you may feel that the target segment for these memberships is different-HNI goes for timeshare while middleclass/lower middle class for OYO etc. But star hotels are increasingly discounting on OTAs, and now even timeshares offer rooms there. For example, I recently got 3 nights in Sterling, Munnar for Rs 3200/night inclusive of 18%tax. The lowest price displayed was Rs 2800/night a day before I booked(missed that unfortunately). and this for a price inclusive of breakfast. I wonder what would members think of this. After all, they have paid membership fee, and AMC sort of fee, with limited choice of hotels(often this is away from city centre, so costlier taxis etc). </div>
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Also, timeshares are good for family vacations but these are in peak seasons in school holidays where often supply is limited. For young couples who can travel in offseason, these memberships are good. But it does not evolve with lifecycle needs</div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-41659800672384062012017-10-20T14:08:00.001+05:302017-10-20T14:08:10.992+05:30Tourist Cab business-economics<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Having booked outstation cabs for self/family across Tamilnadu, Kerala, Orissa, Bengal and Maharashtra, I thought to write some points on the business model. Usually, the pricing starts from Rs 9/10 per km for a round trip with min 250km/day. Add more for bigger vehicles, and sometimes an extra payment for the driver's food/stay arrangements. Obviously, toll/parking/interstate permits is extra. If one prefers self drive, then Zoomcar offers pricing starting at approx Rs 16/km(if one uses the 10km/hr option for Sedan on Sat-Sun, with Rs 12/km for extra kms). Here, it is actually costlier than usual cabs but ok for those needing err.privacy.</span><br />
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span>
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Anyways, I hired a car from Kochi-Munnar for 4 days. The package was Rs 7000 for 4 days, with 500km included, and driver's cost all included. At the outset, he filled his diesel tank for 33.3litres paying Rs 2,000. The tank was only 75% depleted at the end of the 450km long trip, implying a mileage of 18km/litre for 25lts. Assuming Rs 1500 for fuel, and Rs 250/day for driver stay and meals(so Rs 1000 for 4 days), the driver still earned Rs 4500 for 4 days towards his profit/salary/car hire costs. The vehicle was an Ertiga for which 5yr EMI will be Rs 17500/month for a Rs 8.6onroad price. Hence, assuming 60% utilisation or 18days/month, Rs 1000/day goes towards that. So actually, not much profit there. The real juice comes when the driver gets tips or increases utilization. </span><br />
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span>
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">With marginal cost of fuel only around Rs 3-4/km, why is there not a price war like seen in local taxis(ola/Uber). Even Savaari was costlier than the local operator who serviced us, even after the Rs 5000 discount on the rack rate. Reasons for this is usually low utilisation, tourist fleecing/oligopoly etc. </span><br />
<br />
In this market however, innovations appear confined to service quality and not to business practices like garage-garage(instead of point-point), and pricing. <span style="font-family: Calibri, sans-serif; font-size: 11pt;">The claims of Droptaxi/Onewaytaxi and others(</span><a href="https://timesofindia.indiatimes.com/business/india-business/pay-only-one-way-to-cabs-for-outstation-travel/articleshow/59059749.cms" style="font-family: Calibri, sans-serif; font-size: 11pt;">https://timesofindia.indiatimes.com/business/india-business/pay-only-one-way-to-cabs-for-outstation-travel/articleshow/59059749.cms</a><span style="font-family: Calibri, sans-serif; font-size: 11pt;">) are not realistic since hardly anyone confirms the pickup in advance. Unless you are ok to change your plans in the last minute(say backpackers), this won't work when you wish to take connections. </span><br />
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span>
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Also, as mentioned in this post(<a href="https://scroll.in/article/807342/unfair-competition-how-uber-and-ola-are-killing-livelihoods-of-mumbais-auto-and-taxi-drivers">https://scroll.in/article/807342/unfair-competition-how-uber-and-ola-are-killing-livelihoods-of-mumbais-auto-and-taxi-drivers</a>) the long distance fares(>25km/full day rental) are now the domain of app based aggregators like Savaari, Ola Outstation etc. So the local taxis are in the death spiral of smaller distances-less profitability-lower earnings-demand/need for fare hike-demand compression for long distance travel etc. </span>Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com1tag:blogger.com,1999:blog-2673399404630910091.post-8791573373882235852017-10-07T08:16:00.001+05:302017-10-07T08:16:52.669+05:30Hathway Broadband-Great people but poor technology-therefore poor customer experience<div class="MsoNormal">
I took a 2month Hathway subscription and then when relatively
hassle free, took the annual subscription at 50MBps speed, 300GB/month annual
subscription at Rs ~8500/year(Tax inclusive). The installation was a delight
with same day, and online, but post renewal, repeated technical issues cropped
up. Resolution experience has been iffy as yet though. I have blogged earlier
on the customer service issues of PAYTM and some others like ICICI.
However, Hathway gives a competition to PAYTM. Below is the typical customer
experience channels and my comments: <o:p></o:p></div>
<div class="MsoNormal">
<b>Automated service
call</b> asking if satisfied with the resolution of the complaint. If you say
no, they ask you to enter ticket number.
As if customer will have it handy. Why not give an IVRS based choice instead or
else customize the call to say “Resolution of complaint No XXX on <topic>”<o:p></o:p></topic></div>
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<b>App to enter tickets</b>
but <i>very </i>limited functionality and no
“Others” tab. This renders the app useless for
all but basic queries. Also, resolution comments are not mentioned. <o:p></o:p></div>
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<b>Customer care does
not take complex issues</b>, and asks you to send an email.<o:p></o:p></div>
<div class="MsoNormal">
To be fair however, the technical support team is quite
good, and call centre team responsive. Also, their remote diagnostics tools are a delight</div>
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Using best practices such as Live chat, predictive diagnostics and fault correction without waiting for complaints, proactive service credits for poor service, would improve the service</div>
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<o:p></o:p></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com1tag:blogger.com,1999:blog-2673399404630910091.post-66575981188007920052017-09-24T09:14:00.002+05:302017-09-24T09:14:26.302+05:301GB per day-the new data normal due to Reliance JioIn the 2016-17 annual report of Reliance Industries, they disclosed that the average data consumption per Reliance Jio user is 10GB/month (as against a quota of 1GB/day or 30GB/month). This implies a data pack utilization of 33%, that too on a daily basis w/o usage accumulation, which is great. The icing on the cake, introductory pricing of Rs 100/month. In parallel, smartphones are getting cheaper, with a 4GB RAM, 64GB storage and 400Mah battery phone now costing Rs 9,000(or more). This is beneficial for content owners and apps since folks have more money to spend on their services, and ability to consume on the move(this was earlier not feasible due to high mobile data costs, but with someone who takes the JioFi dongle along, they have their own hotspot in lieu of mobile data)<br />
<br />
The implications of this are<br />
-Cloud based services like Wynk(Rs 99/mth), Hotstar(199/mth) and Kindle Unlimited(150/mth) are getting a great audience<br />
-Video hungry channels like Sports, TVF, Comedy, Amazon Central which are usually consumed during commute also gain<br />
-Losers are telcos who got very high data ARPU customers due to the propensity to consume on the same SIM, but now using JioFi dongle, they have their own 24*7 Wifi hotspot using the same phone<br />
-To be fair, Jio has its hassles such as network disruption, dongle life around 6hrs and potential radiation concerns by carrying the dongle with you. Also, employers may not be overjoyed with people using Wifi in office.<br />
<br />
Yet, with other companies following suit, the data revolution in India is now in progress<br />
<br />Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com1tag:blogger.com,1999:blog-2673399404630910091.post-41103731724033633462017-09-09T19:03:00.000+05:302017-09-09T19:03:04.544+05:30Upfront Rates and more responsive customer service-Why Urbanclap trumps HousejoyLet me disclose upfront that Urbanclap is cofounded by an IIM Ahmedabad senior of mine Abhiraj Bahl, but this fact does not bias my views. As someone having used both these apps for home and beauty services (electrician, carpenter, home cleaning, beauty) etc, I find the UI of UrbanClap to be better for the following reason<br />
<br />
<ol>
<li>Most services have upfront rate card(eg carpenter repairs Rs 250/hr) and not the 'On inspection' tariff where you may feel gouged at times. Housejoy by contrast has a visit fee which is adjustable </li>
<li>Prices usually (but not always) inclusive of tax</li>
<li>Super responsive customer service available on chat from 9am to 7pm. Opposed to this, Housejoy has email or call. </li>
<li>Intuitive questions to help better identify the service provider and help them scope work. For example, computer repair requests are asked the model type/repair reason. UrbanClap pioneered this before copied by others</li>
</ol>
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Housejoy has recently revamped their app/UI maybe to address #1, and are offering discount codes perhaps to make up for lost time. But for now, UC rocks.</div>
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Hope is not lost however for Housejoy. When Uber entered India, they kicked ass of Ola's customer care. But in the last few months, Ola is in my view, much better than Uber now. So with enough management focus, one can always make up lost time</div>
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Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com1tag:blogger.com,1999:blog-2673399404630910091.post-55932224925577801052017-09-05T20:16:00.000+05:302017-09-05T20:16:00.852+05:30Some musings over the last one year<div style="background: white; vertical-align: baseline;">
<em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;"><br /></span></em></div>
<div style="background: white; vertical-align: baseline;">
<em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">Recently,
I read an article by the Collaborative Fund Blogger Morgan Hausel about why everyone
should write <a href="http://www.collaborativefund.com/blog/why-everyone-should-write/">http://www.collaborativefund.com/blog/why-everyone-should-write/</a>
<o:p></o:p></span></em></div>
<div style="background: white; vertical-align: baseline;">
<em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">In
this blogpost, I take a stab at addressing the 4 questions he mentioned<o:p></o:p></span></em></div>
<div style="background: white; vertical-align: baseline;">
<em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><br /></span></em></div>
<div style="background: white; vertical-align: baseline;">
<em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">What is your edge over competitors? </span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">Skills in excel, PPT, financial modelling are generic skills, however
the initial edge in my view is the ability to understand accounting better than
a MBA, and business better than a CA. This is cumulatively improved by the softskills such as empathy, willingness
to get your hands dirty in the trenches, and lack of ego. Successive bosses and
mentors have the credit for instilling this in me. However, I am aware of the
power of compounding and everyday changes, so it is a mission to become better
daily amidst the information overload.</span></em><span style="font-family: "Georgia",serif; font-size: 16.0pt;"><o:p></o:p></span></div>
<div style="background: white; box-sizing: inherit; color: rgba(22, 22, 22, 0.9); font-stretch: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 1.66667rem; vertical-align: baseline;">
<em style="box-sizing: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;"><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">How do you react to unforeseen
risk?</span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;"> I interpret this question to
exclude insurable risks, since that would be hedged against. But for risk such
as 10% market swings against your open futures positions, the stock you just
entered being called out as a fraud, your much thought over positional trade
failing, these are unavoidable. Hence, I try to structure the portfolio to be
within my staying power. For example, I recently purchased the listed Indian
private bank YESBANK, on the day before it released its annual report in which it
disclosed divergence from the central bank suggested provisioning norms, for
certain non-performing assets. This disclosure was not voluntary being mandated
by the securities regulator SEBI, and the stock promptly corrected ~10%-15%.
Thankfully, I did not have to exit at firesale prices, and could hold and exit
at a profit(now the stock is 10% over that initial entry price, after having swung
back 25%). So correct risk management applies. In personal life, this maxim
would be not to be dependeant on just one income source, professional
development etc. You don’t know which one will work. </span></em><span style="font-family: "Georgia",serif; font-size: 16.0pt;"><o:p></o:p></span></div>
<div style="background: white; box-sizing: inherit; color: rgba(22, 22, 22, 0.9); font-stretch: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 1.66667rem; vertical-align: baseline;">
<em style="box-sizing: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;"><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">What have you changed your mind
about recently? </span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">That there </span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">are </span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">companies who can grow at double digit CAGR without reverting to
terminal growth rates. This is not an excuse however to write fiction in excel
and justify outlandish P/E multiples, but rather is an effort to learn from
them. To the end, focus on business insight rather than news, and on knowledge with a longer half life. </span></em></div>
<div style="background: white; box-sizing: inherit; color: rgba(22, 22, 22, 0.9); font-stretch: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 1.66667rem; vertical-align: baseline;">
<em style="box-sizing: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;"><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">What part of your job are you
not good at?</span></em><em><span style="border: none windowtext 1.0pt; font-family: "inherit",serif; font-size: 16.0pt; font-style: normal; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;"> I’d suppose this would entail
dealing with what I consider non value added and ego massaging work, which
finally does not serve any economic purpose. This is integral to any corporate
job especially as you climb the ladder (notable exceptions are the
owner-operator driven companies out there). </span></em><span style="font-family: "Georgia",serif; font-size: 16.0pt;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-55074596653348953322017-06-27T07:37:00.002+05:302017-06-27T07:37:27.260+05:30Is it fair to exclude student loans(education loans) from personal insolvency? Some possible reformsWhile reading the Indian Insolvency Code 2016<a href="https://www.blogger.com/(http://www.indiacode.nic.in/acts-in-pdf/2016/201631.pdf">(http://www.indiacode.nic.in/acts-in-pdf/2016/201631.pdf</a>) , I realized that student loan debt is excluded from discharge during insolvency/fresh start process. The definition below states that:<br />
Sectin 79(15) "excluded debt" means—<br />
(a) liability to pay fine imposed by a court or tribunal;<br />
(b) liability to pay damages for negligence, nuisance or breach of a statutory,
contractual or other legal obligation;<br />
(c) liability to pay maintenance to any person under any law for the time being in
force;<br />
(d) liability in relation to a student loan; and<br />
(e) any other debt as may be prescribed<br />
<br />
While matters of (a)-(c) are public policy items, it is difficult to fathom why student loans should be singled out for unfavorable treatment. One argument could be that these loans are typically unsecured and single borrower so to avoid the risk of student moral hazard of building their skills and non repayment, these are excluded from personal insolvency. This is the case in USA also, but there, if the college has been fraudulent, de-recognized etc, this debt is forgiven. In my view, this provision should be accompanied by<br />
<br />
<ol>
<li>Allowing bankruptcy protection for only those student loans which were<b> unsecured and not under co-guarantee/co-borrower of parents</b>. Reason being these were secured at time of sanction, and therefore should not get special treatment</li>
<li>Allowing student loan protection to the extent the <b>interest charges were less than the equivalent home loan rates by the same lender</b>. If the lender had charged ~13% under floating, why should they get special treatment here</li>
<li>Not allowing retirement annuities of parents to be attached to repay their children's loans for which they had done guarantees</li>
<li>Allowing case/case student loan waiver where the default is not wilful. Possible indicators could be</li>
<ol>
<li>Income after graduation<200 emi="" li="" loan="" of="">
<li>Person continued jobless</li>
<li>Institute placement records/academic credentials under question</li>
<li>Evidence of kickbacks between lender and institute </li>
</200></li>
</ol>
<li>Fine/Recovery from the concerned education institute where fraud by them is proven(Eg advertise 100% placements or facilities which do not exist)-then the bank should be able to attach and auction the institute. </li>
<li>Similar to RERA Code, liability on education/admission agents </li>
</ol>
<div>
In the era prior to this Code, I have seen cases of friends debarred from bank jobs since they fell behind on student loan repayment. This leads to a vicious cycle in this economy and should stop</div>
<div>
<br /></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-80480251080289521262017-03-20T17:29:00.002+05:302017-03-20T17:29:51.129+05:30The success of Instamojo<div class="MsoNormal">
Since the last 7months, I’ve been using Instamojo to collect
payments for an event which I co-host. Having collected close to Rs ~80,000
over ~300 transactions(average ticket size is around 160, skew due to one-off
Mar-17 event), my experience of the platform has been that it delivers what it
promises- an inexpensive, swift, efficient way to collect payments for various
purposes(in my case, events). Why do I like it so much, or prefer this to
UPI/direct account transfer? Preregistration for events is helpful to build
seriousness and minimize dropouts- while Prepayment for events builds a
trackable database, and lowers credit risk and operational cash issues, so that
you can focus on enjoying the event rather than on who has paid(or not). Besides,
while in our case, even Rs 150-200 is a pittance actually, this lowers the odds
of overplanning and wasting food/resources.</div>
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->1.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Sleek and elegant web UI-Easy for payments and
vendors<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->2.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Only option I could locate for individuals(non
registered entities) which allows you the full payment gateway functionality <o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->3.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Allows to collect fields beyond name/email/mobile-this
can be used to pre-qualify people during signups, and update the database. No
need to seek and update spreadsheets<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->4.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Protects your and the payor’s payment
information-neither party is aware of the source or recipient payment method. <o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->5.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Allows different variants and discount codes-useful
for price differentiation <o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->6.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Excellent reporting interface, downloadable 24*7<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->7.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Avoids payment hassles for you and various
options for those who need to pay you-no more frequent logging into bank
account to check who paid out<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->8.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Instant receipt-allows confirmation to those who
paid that their funds are safe<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->9.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Easy refunds without time limit-useful if you
cancel the event OR issue a discretionary refund. <o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 38.25pt; mso-add-space: auto; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->10.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Premium options for SEO etc which I have not
used.<o:p></o:p></div>
<div class="MsoNormal">
Some things which could be better<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->1.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Micro Loans on T+1 at 0.25%-This might give a
perverse incentive to delay payments<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->2.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Better Wallet Integration-They don’t have PAYTM
for example, and till recently used to charge money for even offering this
facility<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->3.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Mode of payment/Device Type meta data-this could
be provided in the payments dashboard for vendor to analyze better his customer
profile<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->4.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Not passing on TDR/MDR benefit from RBI-In the
months RBI lowered the transaction charges, they could have reduced it for end
customers also. But they chose not to affect the standard pricing, thus
demonstrating their pricing power. Not kosher!<o:p></o:p></div>
<div class="MsoNormal">
For all this, paying Rs 3+1.99%(+service tax) is totally
worth it even though it works out to 3.5%-4.0% of my overall proceeds. But
considering the time it saves me, it is totally worth it. <o:p></o:p></div>
<div class="MsoNormal">
Kudos to the team and to their backers(their website
includes names like <span style="background: white; color: #2c475d; font-family: "Arial",sans-serif; font-size: 10.5pt; line-height: 107%;"> Kalaari Capital, Blume Ventures, 500 Startups,<span class="apple-converted-space"> </span> </span>Rajan Anandan, Sunil Kalra,
Dave McClure, Rob de Heus, Thijs Gitmans, Pankaj Jain,<span class="apple-converted-space"> </span> Shailesh Rao, Bharathram
Thothadri, Avlesh Singh.) <o:p></o:p></div>
<br />
<div class="MsoNormal">
PS: This is purely a review without any commercial or other
benefit from the gateway. <o:p></o:p></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-86409026934131203902017-01-26T14:09:00.002+05:302017-01-26T14:09:14.498+05:30Who is to blame for Tamil music and dance fading out in Mumbai?There were three distinct events last week which provoked me to write this post<br />
<br />
<ol>
<li>The lament of the Mulund Fine Arts Society that they had to cancel their annual program because of inadequate contributions to fund the extra expenses due to unavailability of the usual rented hall which is now undergoing renovation. The Society has three main revenue streams, music/dance classes(~40% of revenue, but hardly 10% of this revenue is a surplus), minor entry fees/subscriptions(~15% of revenue) and interest income(~45% revenue). Total budget ~Rs 2 Mn. For a place like Mulund with a sizeable population, this is a pity. That too in a place where stand up comedy/multiplexes routinely fill up despite costing ~1000-2000 for a family. </li>
<li>My wife's dance senior from Chennai had a Bharatnatyam performance at Chembur FineArts society (a premier hall). Despite this being a free performance (thanks to Mahindra Finance which sponsored it), the hall was just 1/3rd full at starting time, though it did fill up to capacity by 30min into the show. This would not have happened in Chennai.</li>
<li>I read a book on how memorizing is important, and why distributing our memory to the cloud makes us struggle to remember. I connected the dots and realized its implications for performing arts, which needs time devoted AWAY from the screen along with memorizing dance steps</li>
</ol>
<div>
I suppose addressing this topic needs conceted actions from community organizations, venue owners and citizens. Those further interested in this topic can see</div>
<div>
https://www.quora.com/Are-Indians-forgetting-their-culture</div>
<div>
<br /></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-16674284697689573352017-01-26T14:08:00.001+05:302017-01-26T14:10:31.116+05:30Uber/Ola surge pricing proves that we need a regulated public transportIn Jan-17, Uber euphemistically announced 'price adjustments' as their communication of increased fares. With them earlier having abolished time/distance pricing and surge multiplier in favour of 'flat fares', there was no new benchmark or way to compare the impact of this adjustment. If a government agency had done this, there would have been a hue and cry about opaque rule making, edicts etc, but when private companies like Google/Uber make decisions using Black Box algorithms, they cloak their rationale or data under the guise of 'proprietary business secrets'. Anyways, <b>while regulation is usually considered bad by those negatively impacted, </b>it is essential to address market failure which happens in public transportation. Imagine your fire safety, water supply, and utilities tariffs being determined opaquely and with time of day pricing. Would you accept it? Answer is probably no. A player with deep pockets(eg Uber) can sweep into a city, under cut the existing public transport systems by cherrypicking profitable business, and then increase tariffs and profits instead of expanding supply. This is my apprehension with allowing 'innovative' startups to operate under a non level playing field, in such an important field. Those with private cars or ability to afford taxis can probably cope with surge pricing, but the vulnerable folks who rely on public transport which eventually hollows out to Ola/Uber, would not have any back up option. I have covered some of these problems in another blog post here <a href="http://apoliticallyincorrect.blogspot.com/2017/01/uberola-value-proposition-fast-eroding.html">http://apoliticallyincorrect.blogspot.com/2017/01/uberola-value-proposition-fast-eroding.html</a><br />
<br />
<br />
So what is the solution? Regulations like below are a good starting point once refined in the consumers favour.<br />
<a href="http://mahatranscom.in/pdf/Aggregator%20Rules-15_10_2016.pdf">http://mahatranscom.in/pdf/Aggregator%20Rules-15_10_2016.pdf</a><br />
<br />
But the fact remains is that unless the new age startups address age old problems of access, discrimination, non refusal of rides, regulated tariffs with surge limits, we risk later issuesAnandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-90124503184655759202017-01-26T13:57:00.002+05:302017-01-26T13:57:45.033+05:30Lessons from Bollywood movie KaabilYesterday, I watched Kaabil, a movie starring Hrithik Roshan and Yami Gautam, which centred around the story of a blind couple whose married life is shattered by two hooligans who have political and police backing owing to one of them being a corporator's brother. This ends up in Hrithik Roshan taking revenge, and finally (as in any Bollywood movie), committing the perfect crime and remaining free. Following thoughts came in:<br />
<br />
<ol>
<li><u style="font-weight: bold;">Quit when you are ahead/Dont gloat: </u>Hrithik discovered the suicide note of his wife due to a chance remark from the corporator. If that guy had not mentioned it in his sarcastic effort to rub salt in his wounds, the plot would have been quite different</li>
<li><u style="font-weight: bold;">Public places hardly 'accessible' </u> Crowded malls are a difficult place for the blind, and this was evident from the way Hrithik struggled to find Yami when they got separated in the crowd.</li>
<li><u style="font-weight: bold;">One can profit WITHOUT giving back to the cause: </u>The producers could have given a symbolic profit share to the NAB(National Association for the Blind) to promote welfare of visually impaired people, but they did not. So this is one lost cause unlike say Paa, Anand etc which threw light on otherwise neglected segments</li>
<li><u style="font-weight: bold;">The motivation to succeed: </u>The title name comes from the fact that Hrithik wishes to become 'capable' enough to fulfill the dreams of his beloved. Often, PWD(People with Disabilities) have more motivation than their non challenged peers, simply because they need to try harder. </li>
<li><u style="font-weight: bold;">Importance of a support system: </u>The couple is able to lead a normal life due to their close friends and neighbours. Each of us has the responsibility to help PWDs </li>
</ol>
<div>
Watching the movie needs one to suspend some belief in mobiles phones(who uses PCOs these days), DNA testing etc, but it is a feel good. With 2.2% of Indians disabled, with just 40% of them in the workforce, and 54% overall literacy rate, PWDs lag the general population on several indicators. If such movies increase empathy for PWDs and narrows this gap, it is goo. Data is sourced from below link</div>
<div>
<a href="http://www.mospi.gov.in/sites/default/files/publication_reports/Disabled_persons_in_India_2016.pdf">http://www.mospi.gov.in/sites/default/files/publication_reports/Disabled_persons_in_India_2016.pdf</a></div>
<div>
<br /></div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-6936587659554685352016-11-02T13:02:00.001+05:302016-11-02T13:02:34.326+05:30The challenges Indian professional accountants in business face for lifelong continual professional educationAll professional institutes hold out to the public that their members besides being technically qualified, are well regulated and obliged to update their knowledge. Towards this effect, these institutes (and where allowed, private bodies) conduct initiatives to improve knowledge by structured ways(seminars, courses) and unstructured(articles, teaching, self study). However, the core challenge to the PAIB(or CAs in service/CAs not in practice as we call them in India) is as follows<br />
<br />
<br />
<ol>
<li><b>CPE Program</b> timings conflicting with working hours: CPE programs are often targetted at CAs in practice instead of CAs in service who might not be able to take leave/off. Same holds true for talks from 5pm-8pm or so.</li>
<li><b>CPE Industry Study circles barriers</b>: CPE study circles of members in industry appear more of an effort to recognize internal KMS than open it to outsiders. That is why study circles like Reliance/Castrol conduct programs but often open only to their employees. This is understandable due to security issues in tech parks etc, but outsiders have a less chance</li>
<li><b>Journal articles focus on traditional areas</b> like audit, law, tax with very less focus on corporate finance, management accounting and other industry interest areas</li>
<li><b>Journal articles quality</b>: The quality of articles vary-with many just being a regurgiation of laws/standards, with less incisive. </li>
<li><b>Research Practice Gap: </b>Research is not easily dissiminated and there is no central portal for business research. So those in service need to visit multiple sites and/or subscribe to many journals just to keep up. And lesser said about 'peer review' and 'ivory tower' research, the better.</li>
</ol>
<div>
So what to do? It is easy to criticize but difficult to implement. So without much ado, here are some useful suggestions</div>
<div>
<ol>
<li>Track the regional council website for relevant seminars/conferences. Some are targeted at members in industry and may be relevant</li>
<li>Form your own CPE study circle centred around areas of common interest(eg project finance, excel, tax). Exchange faculty with like minded professionals</li>
<li>Use startups like Breathingrom. co to get venues on demand with seating capacity ~50-100. This would help plan events on short notice also</li>
<li>Devote some time each month to professional development(journal writing/KMS). It will go a long way</li>
<li>Use study circle to share expenses such as relevant books, hiring trainer etc. It is useful</li>
<li>Use study circle as a sounding board to share/discuss experiences and professional plans. It would help get perspectives.</li>
</ol>
<div>
I will implement many of these in the next year. Do drop me an email on andy161161 at gmail dot com with the subject line 'CPE' if you are residing in Mumbai and interested. </div>
</div>
<br />
<br />
<br />Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com1tag:blogger.com,1999:blog-2673399404630910091.post-6613753663515307442016-10-20T09:09:00.003+05:302016-10-20T09:09:47.251+05:30My professional bucket list<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
</div>
<ul>
<li>·<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal; text-indent: -0.25in;">
</span><span style="text-indent: -0.25in;">Activist Investor</span></li>
<li><span style="text-indent: -0.25in;"> </span>·<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><span style="text-indent: -0.25in;">Independent director nomination</span></li>
<li><span style="text-indent: -0.25in;"> </span>·<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><span style="text-indent: -0.25in;">Small shareholder director election</span></li>
<li><span style="text-indent: -0.25in;"> </span>·<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><span style="text-indent: -0.25in;">Ask remuneration list as a shareholder</span></li>
<li><span style="text-indent: -0.25in;"> </span>·<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span><span style="text-indent: -0.25in;">Organize CPE Group Value Investing </span></li>
<li><span style="text-indent: -0.25in;"> </span><span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span><span style="text-indent: -0.25in;">Business I would love</span></li>
</ul>
<br />
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.0in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->Strategic Growth Advisors/TRISYS<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.0in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->InGovern<o:p></o:p></div>
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</span></span><!--[endif]-->10Q Advisors<o:p></o:p></div>
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</span></span><!--[endif]-->Getabstract<o:p></o:p></div>
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Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-7874611228422135942016-09-14T08:45:00.004+05:302016-09-14T08:45:51.006+05:30How technology helps to organize in person/offline meetupsThis month, members of the Valuepickr forum (<a href="http://forum.valuepickr.com/">http://forum.valuepickr.com/</a>) decided to meet up in person. As a fellow member suggested half jokingly, such meetings may be a sign of market touching a bubble (people showing more interest in value investing :D), but I digress. For Mumbai, the effort kickstarted with members getting added to a whatsapp group and expressing desire to meet, but noone stepping forward to 'bell the cat'. I did the honours by suggesting a venue, and finally others chipped in with comments/suggestions and finally the event happened with 45 attendees<br />
<a href="http://www.meetup.com/Valuepickr-Mumbai-meetup-for-Value-Investing/events/233931806/">http://www.meetup.com/Valuepickr-Mumbai-meetup-for-Value-Investing/events/233931806/</a> with the meeting report below<br />
<a href="http://forum.valuepickr.com/t/valuepickr-mumbai/6978/98?u=andy161161">http://forum.valuepickr.com/t/valuepickr-mumbai/6978/98?u=andy161161</a><br />
<br />
Though technology does distance us from the offline world, it can act as a force multiplier as well. For example, below tools were helpful<br />
<br />
<ol>
<li>Instamojo for collecting payments at a cost of just 4% (pricing was 2%+Rs 3/txn+tax)<a href="https://www.instamojo.com/">https://www.instamojo.com/</a></li>
<li>Meetup for getting publicity to the event and ensuring RSVP/certain details</li>
<li>Whatsapp as a communication tool</li>
<li>Gmail for sharing presentations and coordinates</li>
<li>Valupickr for starting the critical mass and getting people.</li>
<li>Breathingroom <a href="https://breathingroom.co/">https://breathingroom.co/</a> for helping get meeting rooms-though we discarded it it was still of great help to book a venue on demand</li>
</ol>
<div>
So far, without payments integration in India, Meetup is not an end-end platform. </div>
<div>
<br /></div>
<div>
<br /></div>
<div>
<br /></div>
<br />
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<br />Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-76615895613977068562016-09-12T14:14:00.000+05:302016-09-12T14:14:05.577+05:30How technology creates the fear of missing out(FOMO)How many times did you<br />
<br />
<ul>
<li> take a selfie/photo to post on Facebook/Instagram instead of enjoying the moment</li>
<li>Check your mobile phone to see notifications</li>
<li>Get disturbed by your smartphone beeps</li>
<li>Pay more attention to the online world than office world</li>
<li>Keep scrolling down into the 'infinite' scroll</li>
<li>Stop at the top few choices presented to you on Google Search, Zomato</li>
<li>Feel the need to ratify your investment decision on moneycontrol?</li>
<li>Stalk long lost friends and see the list of exotic places they had gone(and feel envy)</li>
</ul>
<div>
If you have ticked the box on any of these, welcome to the world of FOMO. While I was reading online on mental models, this one caught my attention, and I came across a <i>really superb article below </i>which highlights the problem with false choices, social media driven ADD etc. </div>
<div>
<a href="https://medium.com/swlh/how-technology-hijacks-peoples-minds-from-a-magician-and-google-s-design-ethicist-56d62ef5edf3#.kg0xgfdxa">https://medium.com/swlh/how-technology-hijacks-peoples-minds-from-a-magician-and-google-s-design-ethicist-56d62ef5edf3#.kg0xgfdxa</a></div>
<div>
<br /></div>
<div>
To avoid FOMO which may drive impulsive decisions, one should restrict social media( OK maybe not delete your accounts but track them only once a week, with the comment that anything urgent would be checked weekly). </div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-25325841305040772012016-09-10T22:47:00.001+05:302016-09-10T22:47:32.352+05:30ICSI NATIONAL AWARDS FOR EXCELLENCE IN CORPORATE GOVERNANCE, 2016-Some musings on questionaireI was going through the questionaire for the ICSI award out of interest. Following points struck me as points which even more investors/professionals miss out, and hence I thought it warrants a post. One can read the full questionaire below<br />
<a href="https://www.icsi.edu/webmodules/Final_Questionnaire_1092016.docx" id="url" style="background-color: white; color: #969696; font-family: Roboto, "Segoe UI", Tahoma, sans-serif; font-size: 13px; margin-top: 6px; max-width: 100%; min-height: 0px; overflow: hidden; text-decoration: none; text-overflow: ellipsis; white-space: nowrap;" target="_blank">https://www.icsi.edu/webmodules/Final_Questionnaire_1092016.docx</a><br />
<br />
<br />
<ol>
<li>Internal Auditor is envisaged as internal & external, and membership number is sought in each case. Interesting way to hint at professionals.</li>
<li>Like in the tax audit form, qualifications in cost audit/secretarial audit are also sought.</li>
<li>For women directors, it is specially asked if she is executive and/or independent. </li>
<li>It is asked whether the Company Secretary reports to the CEO/MD/ED, General Counsel, CFO or any other official. Probably they want to gather data on the 'aukaad' of the professional :D since most other KMP would report into the CEO or the Director(Finance & Legal)</li>
<li>It is further asked about whether a separate compliance department exists outside of the CFO/CEO offices, and its reporting</li>
<li>Credit Rating trend in year is asked-Whether worse/unchanged/improved and whether outlook worse/unchanged/improved</li>
<li>% of differently abled employees is sought</li>
<li>Independent assessment of sustainability initiatives/reporting is asked. </li>
</ol>
Investors would do well to see many of these points especially internal audit, credit rating, independent CSR/Sustainability spend assessment.Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-23629229493931680902016-08-25T17:49:00.002+05:302017-01-26T14:31:08.194+05:30The benefits and drawbacks of working in finance for a publicly traded/listed company in India Ok I admit it. The title is a blatant effort to win <i>some </i>SEO brownie points. But thats par of the course these days, and given the uniqueness of this topic (I hardly found any relevant links), I thought I would write on this subject, from personal experience, and also from interactions with other finance professionals. Firstly, some background on what distinguishes a public listed company from other companies?<br />
<br />
<ul>
<li><b>Minority shareholders:</b> These are often the very reason for a listing, and to ensure liquidity in trading, Indian stock exchanges mandate a minimum 25% free float i.e promoter shareholding capped at 75%. Not coincidently. key corporate actions in India require a special majority i.e 76% of shareholders to approve matters, but since this % is calculated on those shareholders <i>present and voting, </i>75% or a much lower shareholding is often enough in practice. That said, minority shareholders have a veto on certain related party transactions and actions, so one cannot ignore them. </li>
<li><b>Periodic reporting: </b>Quarterly reports in addition to annual reports, within the stipulated timeline of 45 days/60 days</li>
<li><b>Internal Financial Controls certification: </b>For listed companies, there is a CXO level certification with stringent penal liabilities if proved wrong. Hence, the demand for a robust finance controller who can keep the CXO from jail </li>
<li><b>Voluminous disclosures/ </b><b>Multiplying non financial reporting </b>Be it CSR, ESG, BRR, IND-AS, IFRS..listed companies are often the first guinea pigs of financial and non financial reporting since they are public interest entities. This can prove a burden to report all this.</li>
<li><b>Independent Directors/Audit Committees: </b>For listed companies, there are mandates to have a certain proportion of independent directors, over and above that stipulated by the Companies Act 2013. These additional stakeholders bring new perspectives, but could also challenge management in a manner not to the former's liking</li>
</ul>
<div>
Why do I single out the finance function here? While all functions experience a (hopefully) more stringent control environment, it is the finance and legal functions whose stewardship role increases here. The difference being clear (hopefully), let us now see why a listed company would be preferable to a finance professional, and why sometimes it may not. Firstly the pros</div>
<div>
<ul>
<li><b>Independent Audit Committee (in theory)</b></li>
<li><b>Better controls</b></li>
<li><b>Multiple audits/certifications</b></li>
<li><b>Multiple professional interactions</b></li>
<li><b>Exposure to handling minority interests</b></li>
<li><b>Investor Relations: </b>This is a unique role in public traded companies, since even private equity companies would have more of internal MIS than an extensive IR engagement. Preparing IR decks, financial press releases, stakeholder mapping</li>
<li><b>AGM/EGM: </b>This is a JV between Finance and Secretarial functions, however every finance professional should get involved in the preparation for an AGM of a listed company atleast once so that they appreciate the extent of background effort</li>
<li><b>Strategic disclosure drafting:</b>Strike a balance between disclosing more to please investors and win awards, versus revealing business model insights.</li>
</ul>
<div>
<b><br /></b></div>
</div>
<div>
The cons however could be</div>
<div>
<ul>
<li><b>Non value adding work: </b>Be it reviewing an annual report for the nth time before review despite the knowledge that it will likely not be read by even 0.1% of investors, getting backup certifications/attestations for the comfort of independent board members</li>
<li><b>Disclosure overdose: </b>Not all reporting is likely to help investors(eg BRR) but is mandated and wastes man-months in its preparation</li>
<li><b>Potential Legal Liability: </b>If you are a victim of management override(possible if other functions have 'promoter appointed' people-like a 'Lala company'), you are still presumed to be culpable unless due diligence is proven: </li>
<li><b>Dealing with controlling shareholder-ethics: </b>The controlling shareholder/management is the on</li>
<li><b>Hierarchial/Ladder-Big company woes: </b>Listed companies usually tend to be large profitable entities (when initially listed atleast). So the issues of </li>
</ul>
</div>
<div>
<br /></div>
<div>
Overall, it is for one to map their stage of career, aspirations</div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-67830122892491398812016-08-25T17:49:00.000+05:302016-08-25T17:49:56.956+05:30The benefits and drawbacks of working in finance for a publicly traded/listed company in India Ok I admit it. The title is a blatant effort to win <i>some </i>SEO brownie points. But thats par of the course these days, and given the uniqueness of this topic (I hardly found any relevant links), I thought I would write on this subject, from personal experience, and also from interactions with other finance professionals. Firstly, some background on what distinguishes a public listed company from other companies?<br />
<br />
<ul>
<li><b>Minority shareholders:</b> These are often the very reason for a listing, and to ensure liquidity in trading, Indian stock exchanges mandate a minimum 25% free float i.e promoter shareholding capped at 75%. Not coincidently. key corporate actions in India require a special majority i.e 76% of shareholders to approve matters, but since this % is calculated on those shareholders <i>present and voting, </i>75% or a much lower shareholding is often enough in practice. That said, minority shareholders have a veto on certain related party transactions and actions, so one cannot ignore them. </li>
<li><b>Periodic reporting: </b>Quarterly reports in addition to annual reports, within the stipulated timeline of 45 days/60 days</li>
<li><b>Internal Financial Controls certification: </b>For listed companies, there is a CXO level certification with stringent penal liabilities if proved wrong. Hence, the demand for a robust finance controller who can keep the CXO from jail </li>
<li><b>Voluminous disclosures/ </b><b>Multiplying non financial reporting </b>Be it CSR, ESG, BRR, IND-AS, IFRS..listed companies are often the first guinea pigs of financial and non financial reporting since they are public interest entities. This can prove a burden to report all this.</li>
<li><b>Independent Directors/Audit Committees: </b>For listed companies, there are mandates to have a certain proportion of independent directors, over and above that stipulated by the Companies Act 2013. These additional stakeholders bring new perspectives, but could also challenge management in a manner not to the former's liking</li>
</ul>
<div>
Why do I single out the finance function here? While all functions experience a (hopefully) more stringent control environment, it is the finance and legal functions whose stewardship role increases here. The difference being clear (hopefully), let us now see why a listed company would be preferable to a finance professional, and why sometimes it may not. Firstly the pros</div>
<div>
<ul>
<li><b>Independent Audit Committee (in theory)</b></li>
<li><b>Better controls</b></li>
<li><b>Multiple audits/certifications</b></li>
<li><b>Multiple professional interactions</b></li>
<li><b>Exposure to handling minority interests</b></li>
<li><b>Investor Relations: </b>This is a unique role in public traded companies, since even private equity companies would have more of internal MIS than an extensive IR engagement. Preparing IR decks, financial press releases, stakeholder mapping</li>
<li><b>AGM/EGM: </b>This is a JV between Finance and Secretarial functions, however every finance professional should get involved in the preparation for an AGM of a listed company atleast once so that they appreciate the extent of background effort</li>
<li><b>Strategic disclosure drafting:</b>Strike a balance between disclosing more to please investors and win awards, versus revealing business model insights.</li>
</ul>
<div>
<b><br /></b></div>
</div>
<div>
The cons however could be</div>
<div>
<ul>
<li><b>Non value adding work: </b>Be it reviewing an annual report for the nth time before review despite the knowledge that it will likely not be read by even 0.1% of investors, getting backup certifications/attestations for the comfort of independent board members</li>
<li><b>Disclosure overdose: </b>Not all reporting is likely to help investors(eg BRR) but is mandated and wastes man-months in its preparation</li>
<li><b>Potential Legal Liability: </b>If you are a victim of management override(possible if other functions have 'promoter appointed' people-like a 'Lala company'), you are still presumed to be culpable unless due diligence is proven: </li>
<li><b>Dealing with controlling shareholder-ethics: </b>The controlling shareholder/management is the on</li>
<li><b>Hierarchial/Ladder-Big company woes: </b>Listed companies usually tend to be large profitable entities (when initially listed atleast). So the issues of </li>
</ul>
</div>
<div>
<br /></div>
<div>
Overall, it is for one to map their stage of career, aspirations</div>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-12168079233855863722016-08-25T17:09:00.001+05:302016-08-25T17:09:15.577+05:30What is your signature worth-some musings as a professional<div class="MsoNormal">
Recently, I was reading a book by Parag Saigaonkar wherein the below passage struck me-it relates to the author being asked to certify homework completion of his son, and his asking to see the homework before certifying. The author muses that</div>
<div class="MsoNormal">
<i>Reflecting on this incident, I realized that I do sign off
on a lot of other things as well, especially at work – one of the
responsibilities I have as a principal in the firm. As a firm signatory, I have
the ‘privilege’ of signing a lot of important documents …… at least they look
impressive. What does it mean to lend my signature to business-critical
documents? What weight does my signature bear? What are the consequences of not
reading in detail every legal word? What value do I put on my signature?</i><o:p></o:p></div>
<u><span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">SAIGAONKAR, PARAG. THE PERFECT STORM (Kindle
Locations 1682-1685). Westland. Kindle Edition.</span></u><br />
<u><span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></u>
<span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">As finance professionals, whether it is signing an audit report, letter of representation, approving an expense, greenlighting a project etc, we often need to rely extensively on work done by others. For this, we need to ensure we are through in every aspect and review the critical points, to avoid devaluing our signature. </span><br />
<span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">At the same time, we should remember our role as internal consultants and not be bureaucratic in holding up decisions because we want to tick all the boxes all the time. </span><br />
<span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;"><br /></span>
<span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">As Vaibhav Manek puts it in his BCAS presentation on 'Aligning Human Capital-people as strategic assets'</span><br />
<u><span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><a href="http://www.bcasonline.org/files/res_material/resfiles/PPT-Aligning%20HumanCapital_%20VaibhavManek.pdf">http://www.bcasonline.org/files/res_material/resfiles/PPT-Aligning%20HumanCapital_%20VaibhavManek.pdf</a></span></u><br />
<div class="MsoNormal">
</div>
<ol>
<li>“We exist because of our clients; The customer is not an
interruption of our work; he’s the purpose of it”- Mahatma Gandhi </li>
<li>Professionals
must have “a connect” with the client • To win a client’s confidence, give him
the chance to talk to you, person to person, about his needs and his
expectations • Make it easy and comfortable for the clients to share his
secrets • </li>
<li>Professionals must adapt a mindset of joint problem solving, instead
of trying to win or prevail</li>
<li>People with different views must learn from each
other</li>
<li> Make effective decisions, conform to an execution
framework, focus on priorities, have a growth orientation, think with a
solution mindset and multitask between production and management. </li>
<li><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">Technically brilliant people should be respectful to their peers and must share
their knowledge and expertise </span></li>
<li><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">Sharing of ones’ knowledge is critical to have
the team come up to terms with the thought process of the team leader </span></li>
<li><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;">Team
members must have a constant quest for learning and upgrading themselves</span></li>
</ol>
<br />
<u><span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></u>
<span style="font-family: Calibri, sans-serif;"><span style="font-size: 14.6667px; line-height: 15.6933px;"><u>Points 3-8 are especially relevant to facilitating smooth reviews of work. Works should be done diligently as per approved checklists with self review, and once done this way, review would be smooth. Yet, one should not lose alertness and be blindsided by a black swan.</u></span></span><br />
<span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 107%;"><br /></span>
<br />
<br />Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-87680745175312710502016-08-25T16:57:00.000+05:302016-08-25T16:57:01.639+05:30How to choose a job-some tips for the finance professionalFor finance professionals(whether they be CA, CPA, CFA,FRM, MBA, CS, CWA etc), the difference between others and them is that they owe a duty of care to the public <i>and </i>to their employer. They are not <i>supposed to be </i>mercenaries out for maximizing the buck(though many do). Recently, I have had the fortune to advise some younger folks on choosing between options, so I thought to pen down my thoughts here<br />
<br />
<ol>
<li><b>Remuneration</b></li>
<ol>
<li><b>Starting Compensation(Stated)-</b>What is the Gross CTC? This will often be the basis of negotiation of your next job-even if not all of it goes to you? </li>
<li><b>Post Tax CTC(net of all perks) -</b>Is the post tax CTC something acceptable to you? If you lose something due to inflexible tax structuring(eg No NPS/No car hire), then you should negotiate to ensure this stays flat</li>
<li><b>Growth Philosophy-</b>Typical CTC hikes given at different rating scales. Also what extent of jump happens after one stays a long time? </li>
</ol>
<li><b>Alignment with your long term plans-</b>Assuming you perform at previous levels, will this role leave you better placed to pursue your ultimate objective? </li>
<li><b>Working Hours</b></li>
<ol>
<li><b>Official Hours-</b>How many hours are you expected to clock in per day? How many did the earlier incumbent do? Does the company value face time beyond output? </li>
<li><b>Working Days-</b>Whether 5 day week or 6 day week</li>
<li><b>Flexi timings-</b>Whether you can structure your hours the way you like(subject to outside meetings)</li>
<li><b>Commute times-</b>Very Relevant to those in Mumbai, Bangalore etc where traffic often eats up 10% of the total hours in a day</li>
</ol>
<li><b>Your role/place in hierarchy</b></li>
<ol>
<li><b>Matrix vs Single reporting-</b>Do you have ONE boss or TWO bosses? How many power centres are there relevant to you(eg CFO and CAO)</li>
</ol>
<li><b>Leadership Oppurtunity</b></li>
<ol>
<li><b>Reporting Manager-</b>If you are a reporting manager responsible for somebody else, it helps you develop leadership skills</li>
<li><b>Project Management-</b>Even if you are not a reporting manager but need to demonstrate project leadership skills as an individual contributor, that is a good way.</li>
</ol>
<li><b>Working Conditions</b></li>
<ol>
<li><b>Physical Offices-</b>Are the offices comfortable cubicles and designed for peak performance? Is this is a place you can avoid getting tired? Not all places can be a Google but they can certainly be comfortable.</li>
<li><b>Flexibility-</b>Possibility to work from home</li>
<li><b>Tech/Automation-</b>Mobile based work applications, shared services helpdesk etc. These all make one's work easier.</li>
<li><b>Employee Friendliness-</b>Leave Policy, extent of trust in employees</li>
</ol>
<li><b>Learning/Development-</b>What oppurtunities would you get to hone your skills and management</li>
<li><b>Business Model/Industry</b></li>
<ol>
<li><b>Win-Win </b>Is this a win-win business model for society? Or does the company harm society(aka sin stocks) within your moral framework? If so, cognitive dissonance might eat you up and/or regulation may destroy the company</li>
<li><b>Industry Growth-</b>What is the industry growing like, and is your company winning or losing market share? These two answers often determine compensation and internal oppurtunities. </li>
</ol>
<li><b>Intellectual Stimulating Work</b></li>
<ol>
<li><b>Work-</b>Is the work something appealing to YOUR interests and skills? Would you do this even if you had 'FU money'? </li>
<li><b>Colleugues-</b>Would the people be of an appropriate intellectual level? For some people used to working only with other smart MBAs/consultants, it becomes a shock when exposed to multiple intelligences of others</li>
</ol>
<li><b>Performance Review framework</b></li>
<ol>
<li><b>Frequency-</b>Are you someone who performs day in/day out? Or are you someone who ca hit 6s at the slag overs? Either way, the performance mechanism matters-some people perform well with structured goals(3+1s), others on projects and perception</li>
<li><b>Bell Curve-</b>While the gold standard so far, many organizations no longer have a bell curve. These would be interesting for those desiring a truly 'win-win'</li>
</ol>
<li><b>Integrity</b></li>
<ol>
<li><b>Tone from the top-</b>Is there a culture of 'Zero tolerance' or is it 'Results at any cost'? What is your risk of going to jail/being disbarred(eg Satyam CFO and some junior team members)</li>
<li><b>Pressures at your role-</b>Certain roles(especialy sales, financial reporting) have unsaid presures to cook numbers which is often a long standing practice. To what extent can you withstand it, and how ethical is your company vs what you are used to</li>
</ol>
<li><b>Talent Management Framework of the organization</b></li>
<ol>
<li><b>Build or Buy-</b>Some organizations recruit at junior levels only and then promote only from within. Such organizations are good to build careers. While others recruit from outside at all levels and hence if you are siloed there, you might not find a fit in some years either inside or outside. Think which one is your future employer</li>
<li><b>Leadership Programs-</b>Certain Indian conglomerates and MNCs depend heavily on their long established leadership programs(TAS/ABG/UFLP/Airtel YLP etc). Would you be disadvantaged by lateral entry and if so to what extent? Can you accept being possibly a '2nd level citizen' across</li>
<li><b>Job Rotation-</b>Is there a formal job rotation/Internal job posting policy? And more importantly, is there just lip service or is this done? </li>
<li><b>Mobility-</b>Some organizations insist on mobility at all levels and often across functions/locations, as a condition for progress. Are your personal circumstances such to accomodate this, or would you be constrained to walk away after establishing equity? </li>
<li><b>Career Path-</b>Is there a structured career path? Or is it a jungle gym that performance establishes it all? </li>
</ol>
</ol>
Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0tag:blogger.com,1999:blog-2673399404630910091.post-22319104373232646792016-08-17T14:25:00.001+05:302016-08-17T14:25:31.699+05:30Long Qs reduce the overall spiritual experieneWhether it is Siddhivinayak temple in Dadar, Mahalaxmi temple, Tirupati Balaji temple, Shirdi etc, temples are associated with long Qs for darshan, or else activating speed money, contacts etc to get a quicker sight of God. One of the reasons I hesitate to visit temples in person(more so the famous ones) is the fear of a long Q-recently, I spent 4hrs in Q to visit Shirdi Saibabab temple. While some of it was my own making(I understand it takes 2hrs in morning vs 3-4hrs later), the temple had a blatant VIP/VVIP and donor pass based parallel entry system which really irked me. But temples being outside the preview of RTI and Consumer court, one has little power to change or question this. C. So while one might need to wait in Q, it is not likeable<br />
<br />
As the magazine Swarajya puts it corectly,<br />
<a href="http://swarajyamag.com/ideas/not-just-smart-cities-india-needs-smart-temple-entrepreneurship-too">http://swarajyamag.com/ideas/not-just-smart-cities-india-needs-smart-temple-entrepreneurship-too</a><br />
<span style="background-color: white; color: #555555; font-family: "PT Serif", serif; font-size: 18px; line-height: 28.0001px;"><i>"Temples..are run by the state, more to maximise revenues than to build faith. They run a quick-moving assembly line, where the devotee, often after hours of waiting in a queue, gets less than 10 seconds of darshan. Getting into the Tirupati temple is no different from getting into a crowded suburban train in Mumbai or Kolkata. One is surprised how faith even survives this push-and-pull"</i></span><br />
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<br />Anandh Sundarhttp://www.blogger.com/profile/14874226278638311812noreply@blogger.com0