A nationwide goods and services tax (GST), set to come into effect on Saturday, has faced criticism for its complex design
… that today is Meteor Watch Day? Look up at the skies and behold the wonder of nature’s fireworks! When space debris, such as pieces of rock, enter the earth’s atmosphere, the friction causes the surrounding air to become scorching hot — giving us the “shooting star” effect of a meteor. It is estimated that about 20 to 25 million meteors weighing about 100 tons in total enter the Earth’s atmosphere every day!
Today’s Inspirational Quote:
“There is freedom waiting for you, on the breezes of the sky, and you ask ‘What if I fall?’ Oh but my darling, what if you fly?”
— Erin Hanson
NEW DELHI: China’s aggressive expansionism is now targeting tiny Bhutan.
The Chinese Communist Party’s very existence may rest on defending their claims in the South China Sea, and the party’s leadership knows it.
Jeff Bezos built Amazon using this simple idea — one that applies to every business, especially a startup.
Why are some people in the workplace, so…dysfunctional? It may be due to a lack of self-awareness.
He is Srikanth Bolla, a 24 year old blind entrepreneur from Hyderabad. When he was born, his parents, who were earning Rs 20,000 in a year, were advised to get rid of him, but somehow he survived.
Despite getting 90% in class 10th, he was not allowed to chose Science stream for 12th; he sued the State Govt., fought for 6 months, and won the case. He scored 98% with Science in 12th.
When IITs and NITs didnt give him hall ticket for writing competitive exams, he applied overseas, and got selected in 4 of the best colleges ever created on Earth: MIT, Stanford, Berkeley, and Carnegie Mellon. He chose Massachusetts Institute of Technology, received a scholarship, and was MIT’s first International blind student.
After returning from US in 2012, he launched Bollant Industries, where 60% of employees are poor, physically challenged. This 450 employees company is now worth Rs 50 crore, and recently, Ratan Tata invested in his venture.
As per him, “I was made blind by the perception of people..” When the world said to him that you can’t do anything, Bolla said, “But I look up at the world and say I can do anything.”
I bet YOU did not Know
When Hitler invaded Poland and started World War II, 500 Polish women and 200 children were put in a ship to save them from Germans. The ship was left in the sea by the Polish Army and Captain was told to take them to any country where they can get shelter. Last message from their countrymen was “if we are alive or survived, then we will meet again”
The ship, filled with five hundred refugee polish women and two hundred children were refused to come in by many European Ports, Seychelles, Aden etc. The ship continued to sail and somehow reached the harbor port of Iran. Yes so far away. There also they did not get any permission. Finally, the ship wandering in the sea reached India and came to then Bombay. The British Governor also refused the ship to port.
Where Maharaja of Jamnagar, “Jham Sahab Digvijay Singh” came to know about this ship, he became truly concerned. He allowed the ship to port in his kingdom at a port near Jamnagar. He not only gave shelter to five hundred women but also gave their children free education in Balachiri in an Army School.
These refugees stayed in Jamnagar for nine years till World War II lasted. They were well taken care of. Jam Sahib regularly visited them and was fondly called Bapu by them.
Later these refugees returned to their own country. One of the children of these refugees later became the Prime Minister of Poland. Even today, the descendants of those refugees come to Jamnagar every year and remember their ancestors.
In Poland, the name of many roads in the capital of Warsaw is named after Maharaja Jam Sahib. There are many schemes in Poland on his name. Every year Poland newspapers print articles about Maharaja Jam Saheb Digvijay Singh.
From the ancient times, the message of India वसुधैव कुटुम्बकम (whole world is a family) and it’s tolerance has been well known in the world.
Few people today raise doubt put question marks on India’s tolerance. India was will remain a Hindu Indian Culture – Rich ,brave, tolerant, compassionate and genuine humanitarian – plus pro life, pro good values and great respect.
This was an illustrious page from history hardly known to many today even in Indian.
Thought that you must know. Thanks for reading.
… that today is Bald Eagle Comeback Day? On June 28, 2007, in a ceremony in Washington, D.C., the bald eagle was officially removed from the list of threatened and endangered species, 40 years after coming close to extinction. After nearly disappearing from most of the United States, the bald eagle is now flourishing across the nation and no longer needs the protection of the Endangered Species Act!
Today’s Inspirational Quote:
“One’s destination is never a place, but a new way of seeing things.”
— Henry Miller
If You Don’t Prioritize Your Life, Someone Else Will
“A ‘no’ uttered from the deepest conviction is better than a ‘yes’ merely uttered to please, or worse, to avoid trouble.” So said Mahatma Gandhi, and we all know how his conviction played out on the world stage. But what is less well known is how this same discipline played out privately with his own grandson, Arun Gandhi.
Arun grew up in South Africa. When he was a young boy, he was beaten up twice: once for being too white and once for being too black. Still angry, Arun was sent to spend time with his grandfather. In an interview with Arun, he told me that his grandfather was in demand from many important people, yet he still prioritized his grandson, spending an hour a day for 18 months just listening to Arun. It proved to be a turning point in Arun’s life.
I had the opportunity to apply Gandhi’s example of prioritization to my own life, hours before one of my daughters was born. I felt pressure to go to a client meeting the next day. But on this occasion, I knew what to do. It was clearly a time to be there for my wife and child. So, when asked to attend the meeting, I said with all the conviction I could muster…
To my shame, while my wife lay in the hospital with my hours-old baby, I went to the meeting. Afterward, my manager said, “The client will respect you for making the decision to be here.” But the look on the clients’ faces mirrored how I felt. What was I doing there?! I had not lived true to Gandhi’s saying. I had said “yes” to please.
As it turned out, exactly nothing came of the client meeting. And even if the client had respected my choice, and key business opportunities had resulted, I would still have struck a fool’s bargain. My wife supported me and trusted me to make the right choice under the circumstances, and I had opted to deprioritize her and my child.
Why did I do it? I have two confessions:
First, I allowed social awkwardness to trump making the right decision. I wasn’t forced to attend the meeting. Instead, I was so anxious to please that even awkward silent pauses on the phone were too much for me. In order to stop the social pain, I said “yes” when I knew the answer should be “no.”
Second, I believed that “I had to make this work.” Logically, I knew I had a choice, but emotionally, I felt that I had no choice. That one corrupted assumption psychologically removed many of the actual choices available to me.
What can you do to avoid the mistake of saying “yes” when you know the answer should be “no”?
First, separate the decision from the relationship. Sometimes these seem so interconnected, we forget there are two different questions we need to answer. By deliberately dividing these questions, we can make a more conscious choice. Answer the question, “What is the right decision?” and then “How can I communicate this as kindly as possible?”
Second, watch your language. Every time we say, “I have to take this call” or “I have to send this piece of work off” or “I have to go to this client meeting,” we are assuming that previous commitments are nonnegotiable. Every time you use the phrase “I have to” over the next week, stop and replace it with “I choose to.” It can feel a little odd at first — and in some cases it can even be gut-wrenching (if we are choosing the wrong priority). But ultimately, using this language reminds us that we are making choices, which enables us to make adifferent choice.
Third, avoid working for or with people who don’t respect your priorities. It may sound simplistic, but this is a truly liberating rule! There are people who share your values and as a result make it natural to live your priorities. It may take a while to find an employment situation like this, but you can set your course to that destination immediately.
Saying “yes” when we should be saying “no” can seem like a small thing in the moment. But over time, such compromises can create a life of regrets. Indeed, an Australian nurse named Bronnie Ware, who cared for people in the last 12 weeks of their lives, recorded the most often-discussed regrets. At the top of the list: “I wish I’d had the courage to live a life true to myself, not the life others expected of me.”
I have a vision of people everywhere having the courage to live a life true to themselves instead of the life others expect of them.
To harness the courage we need to get on the right path, it pays to reflect on how short life really is, and what we want to accomplish in the little time we have left. As poet Mary Oliver wrote: “Tell me, what is it you plan to do with your one wild and precious life?”
I challenge you to be wiser than I was on the day of my daughter’s birth. I have great confidence in the good that can come from such a decision.
Years from now when you are on your death bed you may still have regrets. But seeking the way of the Essentialist is unlikely to be one of them. What would you trade then to be back here now for one chance—this chance—to be true to yourself? On that day what will you hope you decided to do on this one?
110-slide PowerPoint presentation
38-slide PowerPoint presentation
Kidambi Srikanth, on the verge of breaking in to the top ten in the BWF men’s singles rankings, opens up on his back-to-back Super Series titles, his love for training and how Indian badminton is on the rise.
Explore collections and stories from around the world with Google Arts & Culture.
Source: Google Arts & Culture
Prime Minister Narendra Modi met US President Donald Trump at the White House on Monday for their first meeting since both of them assumed office. Modi gifted Trump a folio containing an original commemorative postal stamp of Abraham Lincoln that had been issued by India in 1965.
He also presented Trump a wooden chest with intricate inlay pattern that is a specialty of Hoshiarpur in Punjab.
The First Lady Melania Trump was presented with a hamper containing a traditional, handcrafted Himachali silver bracelet, tea and honey from Kangra valley. She was also gifted hand-woven shawls from Jammu and Kashmir and Himachal Pradesh.
The issue of the stamp Modi gave Trump, apart from honouring the memory of Lincoln, also symbolised the closeness of the ideals for which Lincoln stood and those which drove Mahatma Gandhi. Both leaders believed in the basic goodness of the common man, and in emancipation of the downtrodden.
Modi became the first foreign leader to enjoy a White House dinner since Trump came to power and the two leaders discussed a range of issues.
In a joint press briefing, Trump stressed on eliminating and destroying radical Islamic terrorism and emphasised on how both nations – the US and India – are deeply affected by the malaise of terrorism.
Modi also laid special emphasis on the growing camaraderie between India and the United States, asserting that eliminating safe havens of terror and bringing stability to Afghanistan were major priorities of both nations.
Jewar Airport will also be a cargo hub
Export promotion schemes will continue under GST regime
Samsung to support ‘Safe India’ campaign
Biyani says no to e-commerce business in the near run
DHL working with customers to make the most of GST
Maersk looking for new opportunities in exporting Indian fruits
India would need to bring 88 sq. Km. land under waste disposal
Data Traffic per smartphone user to reach 11 GB in India
MaxWholesale raises $1 million
GUEST COLUMN / PERSPECTIVE
Asia Pacific emerging as economic driver for Life Sciences & Healthcare
REPORT / CASE STUDY
Regional Connectivity Scheme prospects bright despite low traffic share
Enterprise Telecom Service Provider
Hiring by Zast Logisolutions*
Quality control head position with a plastic firm
Assistant Manager – Transportation
Deputy Manager Warehouse Operations ( Neemrana )
COO for a ground cargo handling company
Multiple openings with Biocon
- Joining Both Palms Together To Greet In Hindu culture, people greet each other by joining their palms – termed as “Namaskar.” The general reason
… that today is Chocolate Pudding Day? It’s National Chocolate Pudding Day so what better excuse than to eat this yummy dessert for every meal! 😉 Chocolate pudding has been loved by children and adults for many years. So dive into a fresh batch and celebrate today to your heart’s desires.
Today’s Inspirational Quote:
“Your hand and your mouth agreed many years ago that, as far as chocolate is concerned, there is no need to involve your brain.”
— Dave Barry
Uber’s troubles are part of a larger picture that defies simple explanations
Whether it’s now or later, people opt for guaranteed gains or losses when ambiguity reigns.
How does hostage negotiation get people to change their minds?
The Behavioral Change Stairway Model was developed by the FBI’s hostage negotiation unit, and it shows the 5 steps to getting someone else to see your point of view and change what they’re doing.
It’s not something that only works with barricaded criminals wielding assault rifles — it applies to most any form of disagreement.
There are five steps:
- Active Listening: Listen to their side and make them aware you’re listening.
- Empathy: You get an understanding of where they’re coming from and how they feel.
- Rapport: Empathy is what you feel. Rapport is when they feel it back. They start to trust you.
- Influence: Now that they trust you, you’ve earned the right to work on problem solving with them and recommend a course of action.
- Behavioral Change: They act. (And maybe come out with their hands up.)
The problem is, you’re probably screwing it up.
What you’re doing wrong
In all likelihood you usually skip the first three steps. You start at 4 (Influence) and expect the other person to immediately go to 5 (Behavioral Change).
And that never works.
Saying “Here’s why I’m right and you’re wrong” might be effective if people were fundamentally rational.
But they’re not.
…business negotiations try to pretend that emotions don’t exist. What’s your best alternative to a negotiated agreement, or ‘BATNA’? That’s to try to be completely unemotional and rational, which is a fiction about negotiation. Human beings are incapable of being rational, regardless… So instead of pretending emotions don’t exist in negotiations, hostage negotiators have actually designed an approach that takes emotions fully into account and uses them to influence situations, which is the reality of the way all negotiations go…
The most critical step in the Behavioral Change Staircase is actually the first part: active listening.
The other steps all follow from it. But most people are terrible at listening.
Here’s Chris again:
If while you’re making your argument, the only time the other side is silent is because they’re thinking about their own argument, they’ve got a voice in their head that’s talking to them. They’re not listening to you. When they’re making their argument to you, you’re thinking about your argument, that’s the voice in your head that’s talking to you. So it’s very much like dealing with a schizophrenic.
If your first objective in the negotiation, instead of making your argument, is to hear the other side out, that’s the only way you can quiet the voice in the other guy’s mind. But most people don’t do that. They don’t walk into a negotiation wanting to hear what the other side has to say. They walk into a negotiation wanting to make an argument. They don’t pay attention to emotions and they don’t listen.
The basics of active listening are pretty straightforward:
- Listen to what they say. Don’t interrupt, disagree or “evaluate.”
- Nod your head, and make brief acknowledging comments like “yes” and “uh-huh.”
- Without being awkward, repeat back the gist of what they just said, from their frame of reference.
- Inquire. Ask questions that show you’ve been paying attention and that move the discussion forward.
So what six techniques do FBI hostage negotiation professionals use to take it to the next level?
1. Ask open-ended questions
You don’t want yes/no answers, you want them to open up.
A good open-ended question would be “Sounds like a tough deal. Tell me how it all happened.” It is non-judgmental, shows interest, and is likely to lead to more information about the man’s situation. A poor response would be “Do you have a gun? What kind? How many bullets do you have?” because it forces the man into one-word answers, gives the impression that the negotiator is more interested in the gun than the man, and communicates a sense of urgency that will build rather than defuse tension.
2. Effective pauses
Pausing is powerful. Use it for emphasis, to encourage someone to keep talking or to defuse things when people get emotional.
Gary Noesner, author of Stalling for Time: My Life as an FBI Hostage Negotiator has said:
Eventually, even the most emotionally overwrought subjects will find it difficult to sustain a one-sided argument, and they again will return to meaningful dialogue with negotiators. Thus, by remaining silent at the right times, negotiators actually can move the overall negotiation process forward.
3. Minimal Encouragers
Brief statements to let the person know you’re listening and to keep them talking.
Even relatively simple phrases, such as “yes,” “O.K.,” or “I see,” effectively convey that a negotiator is paying attention to the subject. These responses will encourage the subject to continue talking and gradually relinquish more control of the situation to the negotiator.
Repeating the last word or phrase the person said to show you’re listening and engaged. Yes, it’s that simple — just repeat the last word or two:
For example, a subject may declare, “I’m sick and tired of being pushed around,” to which the negotiator can respond, “Feel pushed, huh?”
Repeating what the other person is saying back to them in your own words. This powerfully shows you really do understand and aren’t merely parroting.
The idea is to really listen to what the other side is saying and feed it back to them. It’s kind of a discovery process for both sides. First of all, you’re trying to discover what’s important to them, and secondly, you’re trying to help them hear what they’re saying to find out if what they are saying makes sense to them.
6. Emotional Labeling
Give their feelings a name. It shows you’re identifying with how they feel. Don’t comment on the validity of the feelings — they could be totally crazy — but show them you understand.
A good use of emotional labeling would be “You sound pretty hurt about being left. It doesn’t seem fair.” because it recognizes the feelings without judging them. It is a good Additive Empathetic response because it identifies the hurt that underlies the anger the woman feels and adds the idea of justice to the actor’s message, an idea that can lead to other ways of getting justice.
A poor response would be “You don’t need to feel that way. If he was messing around on you, he was not worth the energy.” It is judgmental. It tells the subject how not to feel. It minimizes the subject’s feelings, which are a major part of who she is. It is Subtractive Empathy.
Curious to learn more?
To get my exclusive full interview with former head of FBI hostage negotiation Chris Voss (where he explains the two words that tell you a negotiation is going very badly) join my free weekly newsletter. Click here.
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The human clock at the Amsterdam airport is an incredible piece of artwork. It features …
Running a successful business can look so simple when you are on the outside looking in. You look at a successful entrepreneur and he doesn’t look like he is doing anything special but he is living the good life. It really doesn’t look like he is working all that hard. He seems to be enjoying life immensely.
Really. all he is doing is sitting comfortably in front of his own computer in his own very comfortable home a few hours a day. He talks on the telephone and seems to be enjoying every conversation.
Apparently, running a successful business is the proverbial ‘piece of cake’! Right? WRONG!!! Wrong, wrong, wrong!
You are looking at the results of a very, very long and tedious process that consisted of many very long, late-night hours and a lot of blood, sweat and tears over a period of several years.
This successful internet entrepreneur worked very, very hard for the success that you are looking at.
It is more than a little bit likely that he first placed four corner stones first as he began the long process of building his successful Internet business. Those four corner stones upon which he built his success are:
1.The right mind set.
2.Recognizing and using leverage.
3.Building a set of useful contacts.
4.he probably had a mentor.
We will discuss these four corner stones that must be laid down first so that a successful internet business can be constructed.
All of them are important, even crucial to the success of any business but especially to the success of an internet based business.
Constructing a successful business in cyber space has many things in common with the building of a successful brick and mortar business but there are significant differences as well.
Having the Right, Healthy Mindset
The success of any business both of the online variety as well as the off line variety require the right mindset from the get-go.
A right and healthy mind set will not guarantee success but a wrong and unhealthy or unrealistic mindset will most assuredly guarantee failure. So the right mind set is the first corner stone that must be laid upon which a successful business can be constructed.
What is a right and healthy mindset? There are things that it is as well as things that it isn’t.
A right and healthy mindset IS the willingness to work as hard and as long as is necessary to achieve the goals that has been set. A right and healthy mindset ISN’T the belief that success will be easy, quick or painless.
Those who believe that they can make an internet business enterprise thrive without having to actually put in any time or effort are simply doomed to failure from the beginning.
There are schemers and scammers out there in cyberspace that are just waiting eagerly for those to come along who are looking for easy riches.
A right and healthy mindset IS the willingness to take the time to make a good, solid business plan that is based upon sound business principles.
A right and healthy mindset ISN’T just jumping in feet first and hoping for the best. The best that can happen under those circumstances is that you get out with anymore than two cents to your name.
‘Flying by the seat of your pants’ is NOT a plan…it is just plain suicide in the world of internet marketing. If you don’t have a formal education in business, you need to find people who do have that kind of education and seek then follow their advice.
Recognizing and Using Leverage
There are dozens…maybe hundreds….of business models out there. Some are, of course, more successful than others but they all come with their own set of pros and cons.
The idea is to get the most bang for the buck. You need to use all of the power of the Internet to make your e-business successful. You really cannot afford to leave any stone unturned.
If you are a real go-getter, the temptation is to do everything first and that isn’t possible. You need to make a realistic plan and build one thing upon another until you have a good solid base from which to operate.
Once you get a website built, you will need to begin leveraging SEO (search engine optimization) and gaining page rank.
One thing does lead to another, of course, but one of the quickest ways to leverage SEO is to add a blog to your website. This is a way that you can get much more quickly indexed by the search engines.
Leveraging also includes branding yourself, your website and your products. One of the quicker ways to begin to get yourself branded is by investing in PLR (Private Label Rights) products and changing the names of those products to include your own name or logo. (Don’t forget that there must be some rewriting done.)
This is probably the quickest way to become branded as well as gain credibility on the internet. For example: you might by a PLR E-Book about Easy Dog Training and change the name to ‘John Doe’s Easy Dog Training Methods’.
You can sell the book, give it away as a free gift on your own website or list it in E-Book repositories for others to use.
Remember that reputation and credibility are everything on the internet. Don’t take any shortcuts and never damage or allow others to damage either.
It Is Not What You Know, But Who You Know
That is an old saying. “It is not What you know, but Who you know that counts”. Setting a corner stone of good solid relationships is an important aspect of building a successful e-enterprise.
Working hard at building good solid business relationships is worth every minute of time that you invest in it. Business relationship building should be one of your top priorities.
When you build social relationships, you insert yourself into social situations where you come in contact with people who have interests that are similar to or complimentary to your own interests don’t you?
That is precisely the same way that business relationships are established. You insert yourself into business situations where you will meet others who have businesses that are similar to or complimentary to your own business. You develop relationships over a period of time.
There are several ways in which to accomplish this task. One way is to participate in teleseminars or webinars that are related to your business.
You will learn a lot, of course, but equally important, you will come in contact with those who are already succeeding in the niche market that you are working in.
Of course, attending real brick and mortar world seminars is an even better way to begin to build friendly business relationships with not only your peers but also with those who are in a position to help you….which brings me to the final corner stone that you need to lay.
Find a Capable Mentor
It isn’t likely that there is a more valuable asset that a new e-entrepreneur can have than a good and capable mentor. Someone who has already made all of the mistakes can help you to avoid making all of the mistakes yourself.
They have the wisdom that comes from experience to point out pitfalls and to help direct you toward the better of choices.
Why, you ask, would anyone who has it made want to take their time to help a newbie succeed?
Maybe I can answer that by telling you about my friend who is an accomplished musician. He played with some of the biggest stars in the business. He is a very, very fine guitarist who is now in his 70’s.
He has about three young guitarists that he spends many hours not only teaching how to play but counseling them on career choices.
I asked him why he spent so much time doing that and he said, “It is like gaining immortality. If I teach them and they teach others, then what I know lives forever.”
Successful internet marketers want that ‘immortality’ as well. The ones who are the very most successful are the ones, amazingly enough, who are the most likely to mentor an up and coming e-entrepreneur.
Of course, these successful internet marketers are not going to be interested in wasting their time on a person who has not already worked hard to lay those first three corner stones themselves.
These potential mentors are looking for new comers who show that they have a right and healthy mindset, who are working hard at leveraging and who are well aware of how important it is to know all the players and the RIGHT people.
It short, the new comer most likely to get a mentor is one who is already working hard and helping himself and not looking for someone who can just smooth the way for him.
Every single day in this brick and mortar world, hundreds of millions get up from their warm beds, get ready, have a cup of tea/ coffee and head to their workplaces to their jobs and many are in a semi-dream state thinking there will come a day when they will achieve “Boom/W – Being One’s Own Man/Woman” stage in life when they would be their own bosses and have some independent space, time for work and rest than just running to make a living. Their dream is about trying to think about an easier way to make a living.
Every one of these hundreds of millions of people know someone or the other who has quit the ‘Get-up-and-go-to-work’ grind and makes a better living by working on their PC’s or laptops from the comfort of their own homes. This motivates many to begin a home-based business.
Doing work from home sounds to them an ideal solution. Many of these millions of dissatisfied souls may quit their jobs and take a plunge into internet based marketing businesses without any preparation, no knowledge of what they are doing, no formal education, no hope of success. Failure is generally their sure option and they do not even suspect it.
The fact is that according to many sources, more than 90% (Ninety percent) of all Internet business start-ups end in failure within the first 120 (one hundred twenty) days. Yes, you read that right. NINETY PERCENT!
This failure rate should be a warning to those who are considering trying their hand at making a go of working on the Internet rather than at a job in the brick and mortar world.
Of course, success is possible. There IS that other 10% (ten percent) that do succeed. The thing is success doesn’t happen by accident. And success isn’t just a crap shoot. Success happens because of some very important factors.
Success happens because people have the right ideas about internet marketing and how it works. They do not expect to get rich quick or be able to make a killing over night and retire to a tropical isle.
It is strange but somehow the same people who wouldn’t dream of starting a real world business, think they can make a go of an internet business even though they have no business background.
People will go into an internet business with the idea that they no longer have to get up and go to work. They think they can simply work when the feel like it and still make a good living. They simply do not expect to have to work hard or work long hours.
Wrong Perceptions about the Internet
The 90% failure rate of new Internet businesses really isn’t all that surprising when you stop to think about the people who are starting internet businesses.
For some unknown reason most people think that running a successful internet business is as easy as getting a website built and hanging out an ‘open for business’ sign. They couldn’t be more wrong.
Running a successful internet business of any kind requires self-discipline. People will start an internet business and think that they can party all night, sleep until noon and then make a living in 3 or 4 hours sitting in front of a computer. They somehow think that the world is just going to line up on their website and hand over money. It isn’t going to happen.
Internet businesses do not run on auto-pilot. It is true that well established internet marketing gurus do not have to put in long, tedious hours on their businesses but it is a privilege that that has been earned by putting in a lot of long and tedious hours.
It didn’t happen overnight for them and it won’t happen overnight for anybody. Most people are totally unprepared for the time investment that must be made in order for an internet business to become successful.
No Business Background
All businesses have two things in common. They are BUSINESSES and they must be run like businesses! The people who are in charge of a business need to understand the accepted practices of business.
They need to understand simple and basic ideas like acceptable over-head expenses in relation to projected income. Internet entrepreneurs need to understand profit and loss and what constitutes each.
A college degree in business in not essential for an internet business entrepreneur go be successful but it sure wouldn’t hurt. Just some basic business knowledge is absolutely vital.f you have a hard time balancing your personal check book, you probably should keep your day job and forget about starting an internet business.
It is true that you can hire accounting firms that will tell you WHEN you must make tax deposits, for example, but these firms will not be able to tell you IF you need to make them.
Accounting firms can tell you whether or not you made a profit but not how to make it. If you have no business background you need to, at the very minimum, get some good business advice before you even consider opening an online business.
The fact is that all successful businesses operate on sound business principles. Successful businesses aren’t accidents. The proof is in the numbers. only 10% of new internet businesses are successful or are even still in existence after the first 120 days of operation.
It is not even reasonable to expect to make a profit from a new business enterprise for many, many months.
You must have sufficient resources available to not only launch your business but provide for your own personal needs for an extended period of time. It’s called ‘capital’ and there is no way around the need for enough of it.
The Right Mindset Just Isn’t There!
You have most likely heard the phrase, ‘He has an attitude!” This is usually a derogatory remark made about a person with a disagreeable attitude.
But the word ‘attitude’ is an important one when discussing internet marketing start-ups. A good attitude…a good mind set can’t insure success but a bad attitude and a bad mind set can certainly guarantee failure.
Here are some wrong attitudes that will absolutely guarantee failure:
I can work when I want to. Wrong, wrong, wrong! You can’t just work when you feel like it. You have to expect to put in many long and very tedious hours of very hard work to make a new internet enterprise succeed.
I can get rich quick! You couldn’t be more wrong and you are not only wrong but you are putting yourself in danger as well. There are bazillions of crooks out there on the internet who are waiting for their next easy mark and if you are looking for a quick way to get rich, you ARE the next mark.
It is possible to make a very comfortable living with internet marketing enterprises but if anybody ever tells you it is quick or easy, they are lying to you.
I don’t need a business plan. There you are…wrong yet again. Internet business is still business. All of the same business principles apply to online business as apply to brick and mortar business. It is imperative that you have a plan for success that is based upon these sound business principles.
When you have an internet business of your own, you don’t have a boss. Wrong again! You are your boss. If you aren’t a good boss who sees to it that work is accomplished on time and in full, you will doom yourself to certain failure. Unless you are a boss who sets up a working schedule and establishes goals that must be met, you will find yourself working at a job under a boss who does do those things and maybe for minimum wage.
How You Can Avoid Joining the Failing Masses
The thing about starting a business…any business…..is that there is no guarantee of success under any circumstances.
Even big international businesses can fail at new business ventures. Failure is always an option but the possibility of success can be optimized.
You can optimize the possibility of success by:
Having a good solid business plan in place BEFORE you launch your online business. There is an old saying: “Those who fail to plan, plan to fail”. A detailed set of plans for success needs to be made. You need to have the steps from getting from point A to point B listed in great detail that include realistic cost estimates for accomplishing each step.
Expecting to work very hard to accomplish your goals. You must never expect anything to be easy. You will be right most of the time because things are rarely as easy as they look. Each step toward success requires work, time and patience. Sometimes things don’t work out right on the first try. You have to be willing to try again and again until you do succeed.
Not falling for ‘get-rich-quick schemes. The internet woods are full of those who prey upon those who are looking for quick and easy ways to become rich. Those ways do not exist. Get over thinking that there is an easy way. There is NOT.
Remember those statistics! Ninety percent of all new internet businesses fail in the first 120 days. You don’t have to be part of that majority. You can become a part of that 10% minority of successful internet business enterprises.
An entrepreneur’s life is tough and unpredictable. Often, you are faced with many doubts and challenges. At times, you even find yourself lurching from problem to problem! Against this backdrop, having a mentor or two on board your venture can benefit you tremendously.
A mentor is a priceless resource for any company, especially for companies that are in the startup stage. However, in India finding a good mentor is difficult. In fact, I’d even say that entrepreneurs in India can probably access funding more easily than they can find good mentors!
A good mentor can add enormous value to an enterprise. If an entrepreneur can benefit from mentoring, his/her chances of success (and the scale of success) are very likely to be higher than otherwise. At a nationwide level therefore, we need thousands of very good mentors to support our booming base of entrepreneurs. This is true especially now, when the startup scene in India is seeing explosive action.
As an entrepreneur, you may be wondering: ‘how exactly will a mentor add value to my company?’
Here is how.
He will hold a mirror to your business: A mentor will objectively assess the state of your business and the direction in which it is headed. He will bring in an unbiased point of view. In doing so, he will act as a mirror, reflecting the state of your business exactly as it is: warts, moles, blemishes and all. He will identify what’s right and what’s wrong with your business (or the business plan, depending on when exactly the mentor is brought on board) and help you fix things that need to be fixed.
If there is something wrong with the business (such as a weak process, poor accounting standards, and a bad marketing plan, whatever) he will point it out to you and nudge you to take corrective action.
He will ask you tough questions: From time to time, the mentor acts as an examiner who poses tough questions to you, the entrepreneur. Not to needle and rattle you, but to really get you thinking about improving things in your company. If the mentor does not perform this role diligently, complacency will most likely set in, giving you and your team the feeling that all is well, when actually all may not be well.
A mentor’s questions could pertain to the business model itself, the definition of target customers, the customer acquisition cost, the delivery times and SLAs, the time taken for the business to break-even, the extent of capital investment needed, the systems and processes being adopted, ….anything. For instance, I have seen mentors advise entrepreneurs to temporarily apply brakes on their efforts to develop the ‘perfect’ product and instead, go get their first set of paying customers.
He will make you step back: Because you have your nose to the grind always — operationally speaking — the mentor will pull you back a step every now and then, and make you see the big picture. He will help you look at the changes that are happening around you, which may have a bearing on your business. For instance, changes in consumer mindset, distribution channels, technology, law, etc. could all affect business and so, have to be constantly factored into your planning.
He will open doors for you: As an entrepreneur, one of the biggest roadblocks you will face is a lack of professional contacts such as domain experts, service providers and potential employees. For instance, your business may need a website designer, an auditor, contacts in prospective client companies and an event manager, not to mention an investor. The mentor can make a few calls and put you in touch with the relevant agencies and people. It is up to you to take it from there.
He will push the bar higher: Entrepreneurs are often an unsure lot. While they want to make it big, deep down they are not sure if they will manage to achieve REALLY BIG goals. They are not sure how much to push themselves. A good mentor will demolish this self-doubt, instill large doses of confidence in the entrepreneur and make him push the bar really high. As the saying goes, it is only when you aim for the stars that you will reach at least the moon.
He will share his value system with you: A good value system and work ethic are most important to a fledgling organization. If set up early, they can take the organisation a long way. They help maintain a clean and healthy working environment. A mentor will share his professional value system with you and to the extent relevant, and get you to incorporate it in your organisation.
He will motivate you and make you laugh: All the grind has to be balanced with large doses of humour. A mentor with a sense of humour can indeed be a great asset to your business. His joie de vivre is likely to rub off on you and your team, with the result that all of you unwind once in a while and keep celebrating successes along the way. You will even learn to laugh hysterically at your mistakes and move on. All this eases the working atmosphere tremendously and helps you retain your sanity.
The mentor will also pat you on the back once in a while for a job well done or for a milestone achieved, thereby egging you on further.
He will teach you patience: The quest for success and for greatness is often really long. You will have to weather many a storm and keep digging deeper into your reserves of strength, creativity and resilience. A mentor’s sagacity will prove invaluable at such times. He will urge you not to fret (which is anyway useless), but to keep chipping away patiently.
The mentor has a big role to play in calibrating your tempo, curbing your impatience and helping you keep the faith.
In sum, a good mentor keeps his cross-hairs firmly on the interests of the business and from time to time, gives you the necessary inputs. And so, if you haven’t brought a mentor or two on board your company yet, do it right away!
(In referring to mentors, I have used the masculine gender merely for ease of writing and not because of a gender bias!)
I launched my first startup while I was still in college, 16 years back. It shut up shop soon after.
I launched my second venture in 2004 and my third, in 2007. Both also shut down within one year of launch.
I could blame these failures on my naivete and the fact that there wasn’t much of a startup ecosystem to offer guidance and inspiration back then. But I should also blame myself, because if there was one thing I could have done differently, it would have been to get expert advice and insight from people far more successful than I.
If only I had had mentors back then.
Flash forward to the present: I started my fourth, and current, startup in 2011 with mentorship this time, from two extremely successful entrepreneurs and investors. And throughout my journey, I’ve continued to reach out to experts from different domains for guidance and advice. From the experience I’ve accrued in working with these mentors, as well as mentoring many startup entrepreneurs myself, I’ve realized this is something you can’t really do without. You need experts to help you with insights and with options that best resolve your challenges.
One of the main reasons for accelerator programs such as Y Combinator or 500 Startups is the access they give to mentors and experts from different areas of business.
But when you do search for a mentor, there are several things to keep in mind, in order to make the best use of your mentor’s time and build relationships with the right people who can help your startup grow. Here are three:
- Know what you want from your mentor.
Why do you need a mentor at the current stage you’re in? Do you need help with something specific, or are you looking for validation of your idea? Seeking out mentors for idea validation is the single biggest mistake most startup founders make. I personally get five to eight emails every day from people asking what I think of their idea and whether I have any feedback. Two things here:
The mentor/person you’re writing to may not be your potential target audience for the product. The idea has to be validated by your potential customers. If you can get someone to pay to use your product, there’s your validation.
Most ideas (if they don’t already exist) seem outrageous or weird, at first. Most of the “experts” and investors who initially reviewed the concept of Twitter rejected it. After all (they must have thought), who needs a 140-character texting vehicle?
So, don’t worry about your idea’s radical differences. Instead, look for a mentor for the correct reason: help with a specific aspect/challenge of your business.
- Mentors should be experts, not generalists.
With that said, your mentors ideally should be experts in your industry, able to resolve the issues you’re facing. Don’t seek generalists, like startup founders, who are likely to give general advice.
You typically don’t need general startup advice because your particular product/service, market, customers and situation all differ from those of from other entrepreneurs. Instead, seek out those mentors who are the experts. For instance, if you realize that you’ve been spending a great deal of money advertising on Facebook without getting good returns, seek out that expert in Facebook or paid advertising who can best guide and coach you in leveraging this medium (along with other options).
- Be creative when asking someone to be a mentor
Most people who are successful in their areas of expertise are inundated with emails from people asking for feedback or advice. So, you need to stand out and to be creative in your outreach.
When we encountered challenges with SEO in our own business, we reached out to the best SEO experts in the world, albeit in a creative manner: We set up an expert advice platform for entrepreneurs who, like us, had queries with regards to specific areas of marketing. We went and interviewed those experts and put their advice out as videos for a larger audience.
We benefited from that action, as have many startup entrepreneurs with similar problems. So, follow our example: Be creative in how you reach out or build a relationship, by following experts’ blogs, commenting on their articles, retweeting their articles (by tagging them) and engaging with them on social media. Add value to their work before you expect something back.
And, then, shoot off an email to them with a specific query. Don’t write asking for general advice.
Finally, don’t expect mentors to give you an hour of their time every week or, heaven forbid, every day, for your business. Consider these people sounding boards for the challenges you face or the specific ideas you want to bounce around. Mentors should be catalysts for your personal and professional growth. Just make sure you’re not asking too much of them.
Self-Investment Tips that Really Work
It is absolutely true that time is the one commodity that most internet entrepreneurs have a very, very short supply of. Still there are ways to use time that would otherwise be of no value to invest in yourself. Here are a few tips that might help:
Use travel time to invest in yourself. By using your iPod or your MP3 player you can use your travel time to expand your knowledge.
Set your clock for a half hour earlier and use that time to read and learn.
After you stop working in the evening, use your computer to search for new information and ideas.
Of course there are some things that are just going to take your time but you can choose wisely.
Attend webinars and teleseminars that are directly related to your niche or your business.
Attend real world seminars that are closer to your home and will require less travel time but will provide you with the information that you need.
Resist the Urge of Staying in the Comfort Zone
We all have a comfort zone and all of us are very fond of our personal comfort zone. It is very, very tempting to just stick with doing the things that we have always done and doing them in the same way we have always done them.
However, staying in your comfort zone and refusing to expand your mind and your horizons can cause you and your internet business to fail.
There is an old saying (probably made up by someone who was afraid of trying new things) that says, “If it isn’t broke, don’t fix it.” Well, ‘it’ doesn’t have to be broken in order to be improved upon whatever ‘it’ is.
Candle light wasn’t broken but we are all glad that electricity was harnessed. Electric light is still light but it is certainly a big improvement over candle light.
New ideas come along every day in the world of internet business. Some of those ideas are even good ones even if they do reside outside of our own personal comfort zone.
In order to continue to invest in yourself, you must be willing to leave your own comfort zone. Just because what has worked is still working it doesn’t mean that there are not newer, better and more efficient ways of doing things.
Nobody is saying that new is always better. New is not always better but sometimes it is and the only way to tell which is which is by investigating new ideas yourself and then adapting the ones that can help you to your business.
Invest in yourself by increasing your knowledge and don’t be afraid of trying new things and new ways of doing things. These things really are the secrets of success and not just in the world of internet business but in life itself.
Just about every internet marketer that I have ever known has worked at some kind of job other than internet marketing before they launched their internet marketing careers.
It is a funny thing about working at a job that pays you for the work that you do. You get into a ‘work-equals- money’ mindset. After all, when you work for others, work does, in fact, equal money.
But when you launch an internet marketing career the ‘work’ that used to make money for you now prevents you from making money.
It is true. The ‘work’ that you are doing that you once got paid to do, like answering the telephone, answering emails, filing papers, etc. is actually preventing you from making the deals that will put money in your pocket.
Yet we continue to seek work because we are programmed to think of work as the thing that makes money.
We get stuck in the ‘work-equals-money’ mindset that is actually counter-productive to building a successful internet marketing business.
We focus our time and energy on finding work for ourselves rather than on focusing our time and energy on making the deals that will really make money for us.
It isn’t hard to see why we get into this ‘work-equals-money’ mindset. We have been living with that concept since we were kids.
Think about it. What was your first job? Did you cut grass for a neighbor? Didn’t you get money after you had done the work? Of course, you did. He wasn’t paying you to think…he was paying you to cut grass.
When you got older and got a job at the local burger joint, you got paid for cooking hamburgers and French Fries. You cooked the hamburgers and fries and then you got paid. Word did in fact equal money.
The owner of the hamburger joint wasn’t paying you to find a better way to cook hamburgers or paying you to look for a new market to sell hamburgers. He was only paying you for doing the work of cooking the hamburgers.
But now you are not getting paid for doing the ‘work’. The work isn’t what is making money for you.
It is true that the work must still be done but you don’t have to look for it. It will find you. What you need to be looking for now are the deals that will make you money.
What Constitutes Work?
What is ‘work’? The ‘work’ that makes any business work is just the day to day activities that must be accomplished in order for the business to function. Telephone calls must be answered.
Emails must be read and responded to. Files must be kept orderly. The list goes on and on but this is just ‘work’.
Nobody is going to pay you to answer the phone, read emails or keep files in order. That is simply ‘work’ that must be done. It isn’t making you any money and it most certainly is not what you should be focused upon.
Once an internet marketing business has gotten up and running, it is a very good investment to simply pay a virtual assistant to do the ‘work’ and set yourself free to make the deals that actually make you money and make your internet marketing business thrive.
You can’t do this right away, of course, but you can use as little of your time as possible on mundane tasks.
You can spend hours and hours and hours of your time working on your website….making it better…tweaking this and tweaking that. That is work that is not putting a single red cent into your bank account.
Hire a techie to do that ‘work’ for you while you are making deals that make more than enough to pay the techie.
Until you can hire someone to do this work for you, get it fixed as best you can and move on the productive deal making.
How many hours are you spending each day writing and making posts to your blogs? Is this time actually making any money for you?
No, of course, it isn’t. It is just ‘work’. It is work that others could do just as well or work that you can find ways to make shorter like by using PLR materials rather than writing every word yourself.
Customer service is absolutely vital work that must be done. It must be done quickly and efficiently and above all competently.
It might even be work that in the beginning at least that you must do yourself.
There are however companies and individuals out there in cyber space that are perfectly capable of handling this work for you and you don’t have to make it harder than it needs to be.
What Constitutes Making Deals?
Yes, it is absolutely true that the ‘work’ must be done, but the work that must be done should be done as quickly and as efficiently as possible and you shouldn’t concentrate your energy on finding and creating more work that isn’t going to making any money for you.
You need to be focusing your attention on making the deals that will make money.
Just as soon as you possibly can, you should begin to hire people to do the mundane tasks that must be accomplished and free up as much of your own time as possible for deal making.
So what exactly are the activities that constitute deal making? Briefly and concisely they are the activities that have the potential for putting money into your bank account. A few of these activities are:
isiting forums and blogs that relate to your niche: Forums and blogs are where you find the real living, breathing people who are YOUR potential customers and until somebody drags out their credit card, puts in their information and actually buys products or services from you, you haven’t made a dime so you need to go where the people are and find out how to best serve their wants and needs.
Visit websites that are related to your website. This is where you will find your potential joint venture partners. Contact the webmasters and work on making mutually profitable deals.
Start your own newsletter or E-zine: This is one of the most potentially profitable deals that you can make for yourself. The longer your list grows, the more profits you can make.
Attend seminars in the brick and mortar world and build good solid business relationships with others in your field. Here again are potential joint venture partners that you need to take the time to cultivate.
Put together your own webinar or teleseminar: Find interesting speakers who would supply information of interest to your list. Webinars and teleseminars are both easy and inexpensive to do and are both money making deals that you can make.
Does this Mean We Should Ditch Work And Focus On Entirely Deals Only?
It would really be nice if we could just ditch the work-a-day-work and do nothing with our time other than make the deals that make us money! Now that would be what I would call a perfect world.
Unfortunately, the work-a-day-work must be done and until our ‘ship comes in’ we are probably going to be the ones who have to do that as well as make the deals that make us money.
As long as we are going to have to do both we can at least learn how to work smarter. We can learn how to get the same amount of ‘work’ accomplished in less time so that we can free up more time for making the deals that will make us money.
Some examples of working smarter are:
Write a FAQ page for your website and use your autoresponder to direct most questions to that site.
Subscribe to a Private Label Rights (PLR) membership website and use that material (with only a little rewrite) as your blog posts and your website content. You can even make whole new products that can be sold from this PLR material.
Make a schedule for yourself that allows only so much time for the tasks that must be completed that make you no money and allow more time in that schedule for the deal making tasks that will make you money.
Invest in automation software that is designed to take care of simple every day but time consuming tasks.
There is always the ‘work’ that must be done each and every day but don’t let it become the object of your focus. Don’t look for work to be done. Work no longer equals money for you now that you are an internet marketer.
Get the work done as quickly as you can and put your focus on the deal making activities that will add to your bottom line. It is no longer your job just to make hamburgers…now you need to get out there and look for new markets. You ARE getting paid to think now.
IIMs have always been known for their out of the box teaching pedagogy. MBA is a course that should be practiced rather than learnt. The faculty at IIMs is always on a hunt to make the teaching sessions lively so that the participants can make the best out of those learnings in the future. The ‘Organizational Behavior’ faculty at IIM Indore followed a unique pedagogy which is illustrated as follows.
The curriculum for the PGP-1 participants required them to get well-versed with some of the topics such as group dynamics, organizational design, negotiation, and collaboration. To make sure that the classroom learnings of these topics get applied in the real world, the OB and HR faculty of the campus held an exercise called the “Boat Building Exercise”.
The idea was to make paper boats and sell it to customers via agents. The entire batch was given various roles as described below. The duration of the exercise was 3 hours. It was designed in such a way that it would test the skills of the participants on various grounds such as group formation, group dynamics, negotiation, collaboration, power and politics and all other topics that were discussed during the OB-II classes.
Strategic business unit members (SBU members) – 30 strategic units were established and each strategic unit had 11 members and 1 designated CEO. The CEO was responsible for designing the organization and directing its activities. Each SBU also had a union leader.
Agents- The agents had to give orders to the SBUs on the basis of the customers’ demand in the market. They were also required to make a suitable margin and make a deal with the SBUs.
Supplier– The supplier was responsible for providing raw material to the organization for making the paper boats. They were to make a profit out of their selling deals.
Banker – The banker provided loans to the SBUs. The SBUs were given paper/token currency and the currency was limited. The SBUs could take loans from the banks in order to expand their business.
Observer- The observers had to assess the changing phases of the organization while it was interacting with the environment.
Auditors- The auditors were responsible for checking the accounts of the SBUs, whether they had been maintained properly or not.
Vigilance Department- It was responsible for ensuring that all companies, agents and suppliers follow the code of conduct.
Objective – Each team was asked to maximize their profits and the three SBUs that made the maximum profit were awarded a prize. There were prizes for agents, banks and suppliers that performed the best.
Boat Building Company in action
The exercise started with each SBU registering themselves with the registration department. Each team was handed over a folder that comprised of raw materials for making the boat and instructions to make paper boats. Once the teams finished with the basic resources they could buy resources from the vendors.
Followed by the registration, the teams decided the organization structure and assigned various roles within the team. They followed the parameters that had to be kept in mind while designing the structure of the organization such as boundary spanning and strategy fit. After forming the company, the norms were set up. The union head was responsible for collecting a currency of 1 token after a boat was manufactured and was to be dispatched to the agent, as a measure of work labor charges. It was observed that the teams were initially considering the exercise to be a normal exercise but later on they got so engrossed in it that they were really imagining themselves in a real scenario.
The marketing or sales people presented their paper boat samples to the agents and negotiated a deal with the agent for a required number of boats within a specific period of time at a specific price. There were several people approaching the agents to sell their boats at a specific price. Beautifully decorated paper boats were made to lure the agents to get the price demanded. Once the contract of purchase was made a document was signed between the two parties – the agent and the SBU representative. This order forms were later verified by the auditing team. The vigilance department ensured that best trading practices were followed.
As the SBUs finished with the basic raw material provided and wanted to expand further they borrowed funds from the virtual banks that were set up. The whole exercise went on for 1.5 hours. Everyone was using tactics of negotiation and collaboration to make the best profits and win the prize. The teams were managing their team dynamics to work together in the best way. Everyone was on full heat until there came a twist in the story.
Twist in the story
The agents now refused to buy the paper boats foreseeing a war situation and wanted boats that can resist rugged war like situation. The inventories that several teams had prepared turned out to be of no use. The teams didn’t give up and started preparing themselves as per the demand. This part carried on for some time and finally at the end of 2 hours the accounts of all the SBUs were frozen. The auditors conducted their auditing exercise.
At the end of the exercise, the faculty discussed their observations with the participants and was happy to see that the learning of the Organization Behaviour course was applied in a simulated environment. The winners were declared and token of appreciation was given to all.
This exercise is unique and conducted at few schools like IIM Indore and IIM Ahmedabad . It helped the participants reminisce over the fact that the store of knowledge that they garner from this place would be handy at a great deal of situations they would face in the real world.
Building the Tallest Tower Team Building Exercise
This is great team building exercise that is suitable for teenagers in class rooms to adults in workplace settings. I have used this exercise in dozens of team building workshops I have conducted over the years.
This exercise encourages creative problem solving through teamwork.
- Divide everyone into groups of 4 to 8 people.
- The goal of this exercise is to have your team build the tallest free standing tower with 3 x 5 cards.
Here are the rules:
- You will be given SEVEN MINUTES to plan and build your tower.
- You will have FIVE MINUTES for the actual construction of the tower.
- While you plan, you MAY NOT DAMAGE THE CARDS IN ANY WAY, but you MAY SPEAK.
- While you build the tower, you may NOT SPEAK to each other.
Materials: 50 3X5 cards. You can substitute with a deck of playing cards of a box of spaghetti.
Time Required: 15 minutes
Group Size: Groups of 4-8 people
You don’t have to start out as an expert in order to run a successful business. Of course, many entrepreneurs have started their businesses without money or financial backing. And similarly over the years, plenty of entrepreneurs have found success in fields where they had no previous experience. So whether you’re young and considering starting your very first business, or just getting started in a different field, these successful entrepreneurs with no experience should provide a dose of inspiration for your new venture.
Editor’s note: watch a video featuring the top 10 list of successful entrepreneurs with no experience.
Entrepreneurs with no Experience
Richard Branson started his first venture, which would eventually become Virgin Records, out of a church at a young age. He didn’t do well in school and had no formal higher education or business training before becoming a successful entrepreneur. He simply started out selling records that he advertised in a small magazine, and grew his business from there.
Though she had appeared on TV and in the public eye because of her congressman husband and conservative-turned-liberal viewpoints, Arianna Huffington had limited journalistic experience before starting the Huffington Post. The website, now part of AOL, is today one of the most well-known news brands on the Internet.
The famous industrialist didn’t build a huge fortune because of professional experience or formal education. In fact, he dropped out of school at an early age to work. He served as a bobbin boy at a cotton mill and then a telegraph messenger. He then worked his way up through the railroad industry and taught himself by reading as much as he could.
The famous inventor and entrepreneur, known for the electric light, the phonograph and the motion picture camera, didn’t get his start or reach success because of any sort of formal training or professional experience. He worked as a newspaper salesman and a telegraph operator before getting started with any of his famous inventions.
Debbi Fields was just over 20 years old when she started Mrs. Fields cookies. She had no formal higher education or training in the food industry. She used earnings from working as a “ball girl” at Oakland Athletics games to buy the ingredients for her cookies and baked goods.
The founder of Def Jam, Phat Farm and more, Simmons briefly attended the City College of New York. But when he got involved in the hip hop community, he decided to focus on building his businesses instead.
Mary Kay Ash
The founder of Mary Kay Cosmetics did have some work experience, but no formal education or entrepreneurial training, before starting her company in 1963. She had previously worked for Stanley Home Products. And it was at that job, after being passed over for a promotion in favor of a man she had trained, where she was inspired to write a book aimed at helping women succeed in business. That book eventually became the business plan that she used to launch Mary Kay Cosmetics.
Colonel Harlan Sanders
Colonel Sanders had no formal restaurant training or experience before starting what would eventually become Kentucky Fried Chicken. He learned to cook when caring for his siblings as a child. And he held a number of odd jobs through the first part of his career, including his work in the Army and on local farms and railroads. He started in the restaurant business because he was running a local service station in Kentucky. But it was the chicken dishes he served that eventually gained the most attention.
The founder of Hallmark Cards started his career with no real experience in the product that would later make his family name a household word. His first venture was selling perfume to neighbors after which he got a job as a clerk in his older brother’s bookstore. At just 16, he invested with his brothers to open the Norfolk Postcard Company in Norfolk, Nebraska. He would later move to Kansas City where he started wholesaling postcards to bookstores and gift shops. Circumstances forced him to create his own cards only when a fire destroyed his existing stock.
While the founder of Auntie Anne’s pretzels did have experience making bread and pretzels, she had no formal culinary or business training when she decided to go into business. Beiler grew up in an Amish family and started selling pretzels at market stands. She only had a ninth grade education when she started, and had to tweak the pretzel recipe several times to really find success.
The fashion designer didn’t start out with any formal fashion or business training. Instead, he sold shoes out of the trunk of his car and used his $1,000 profits to start the fashion company.
After serving in WWII, Walt Disney worked a few odd jobs to make ends meet. He had an interest in art and animation from a young age, but not any formal education or professional experience to show for it. He launched a few different animation studios before eventually finding success.
The spokesman and entrepreneur behind Jimmy Dean sausage actually got his start as a country singer. Dean had several hits and TV appearances before starting the Jimmy Dean sausage company with his brother in 1969. But part of the reason for the company’s success was Dean’s appearance in its commercials.
The chef, TV personality, author and businesswoman didn’t attend culinary or business school before starting her career. She had worked at a few food-related jobs. But it was her job at a gourmet market, where she often talked to people who didn’t want to spend a lot of time cooking, which gave her the idea for “30 Minute Meals” a segment that got her onto local cable newscasts, the Today show, and eventually her very own show.
The famous photographer actually had aspirations of being a musician before getting seriously involved in photography. He had a strong interest in the outdoors from a young age. And he used photography to document his excursions, experimenting with different modes and formats of photo over time.
Ray Kroc met the McDonald brothers while working as a traveling salesman for a food processing equipment company. He had worked a few odd jobs since serving in the armed forces during World War I, but didn’t have any formal business education. He offered his services to the brothers, who were looking for a new franchising agent. And together they made McDonald’s a household name.
Coco Chanel learned to sew not from formal education or training, but from making and altering her own clothes while living in a convent orphanage. She later started making hats as a hobby, and then selling them to other boutiques before eventually opening up her own.
Before starting Famous Amos cookies, Wally Amos dropped out of high school to join the Air Force. He later went to school to become a secretary, and got a job at a talent agency, where he would attract clients by sending them cookies. Though he enjoyed making food from a young age, Amos had no official culinary training before opening his first cookie store.
The creator of Beanie Babies originally wanted to be an actor. But after giving up on that dream, he spent a short time working for a toy company, before he was fired for reportedly trying to sell his own creations. A few years later, he launched his wildly successful line of Beanie Babies.
Mark Ecko founded his t-shirt company, ecko UNLTD in 1993 while taking a break from pharmacy school. He had already shown an interest in art and graffiti, but had no formal art, business or fashion training before starting the business. He never returned to pharmacy school. And now his business, Mark Ecko Enterprises, is a billion-dollar global company.
So there you have it, 20 successful entrepreneurs with no experience. Know someone else who didn’t let a lack of experience hold them back? Share in the comments!
… that today is Public Service Day? This special day reminds us of the importance of public service, and the people who dedicate themselves every day to the success of their nation. You may be surprised by how many people are involved in the public service industry: mail carriers, librarians, those in the military or the education sector. Head on down to your local utility and deliver a hearty thank you to the people who work there and provide you with the services you need!
Today’s Inspirational Quote:
“The best antidote I know for worry is work. The best cure for weariness is the challenge of helping someone who is even more tired. One of the great ironies of life is this: He or she who serves almost always benefits more than he or she who is served.”
— Gordon B. Hinckley
… that today is Public Service Day? This special day reminds us of the importance of public service, and the people who dedicate themselves every day to the success of their nation. You may be surprised by how many people are involved in the public service industry: mail carriers, librarians, those in the military or the education sector. Head on down to your local utility and deliver a hearty thank you to the people who work there and provide you with the services you need!
Today’s Inspirational Quote:
“The best antidote I know for worry is work. The best cure for weariness is the challenge of helping someone who is even more tired. One of the great ironies of life is this: He or she who serves almost always benefits more than he or she who is served.”
— Gordon B. Hinckley
India ratifies UN’s TIR convention for international transportation of goodsJune 21, 2017 supplychainThe government early this week confirmed ratifying United Nations Transports Internationaux Routiers Convention (TIR), becoming 71st country to join the UN-promoted universal transit system for goods. The move is likely to streamline the movement of goods to/from India by international road networks and further consolidate its position in South Asia.TIR, a global benchmark for the shipment of goods by roads is managed by International Road Transport Union (IRU). India’s decision to join it is aimed at ensuring better connectivity with manufacturing and trade hubs beyond its borders. Reacting to India’s decision, the IRU said in a statement that it will put India “at the center of efforts to increase trade and regional integration across South Asia and other regions”. TIR is expected to facilitate better integration of India’s trade and commerce with Myanmar, Thailand, Bangladesh, Bhutan and Nepal, as well as to move goods along the International North-South Transport Corridor via the Chabahar port in Iran, and to access Afghanistan.
I found this new and interesting newsletter today. Sharing.
A free journal of original articles on national issues, politics, foreign policy and the culture.
Today’s Inspirational Quote:
“Did you ever notice that the first piece of luggage on the carousel never belongs to anyone?”
— Erma Bombeck
You can’t repair a culture when the business is based on illegality.
Join meâand the entire Runkeeper communityâin tracking a 5K on Saturday, July 15 or Sunday, July 16.
Source: Runkeeper Global5K
No, you can’t always get what you want. But if you try some times, you just might find, you get what you need. Who do you want to be today? Who do you want to be? Who do you want to be…
21 June 2017
Today’s Top Story
BloombergDenmark is tightening its anti-money laundering laws in response to revelations in the so-called Panama Papers, with the government targeting tougher prison sentences for individual bank managers and consultants involved in breaches.
Radio New Zealand (TI mention)
From Transparency International
Did you know…
… that today is International Day of Yoga? Yoga is a 5,000-year-old physical, mental and spiritual practice originating in India. It aims to transform both body and mind. Check out some local yoga classes today and start benefiting!
Today’s Inspirational Quote:
“We can always choose to perceive things differently. You can focus on what’s wrong in your life, or you can focus on what’s right.”
— Marianne Williamson
When a scientist says that airlines are covering up the truth, who is more persuasive?
Ireland is a land steeped in a wide variety of mythology, folklore, and superstition. From Druids to Christians, famine to invasion, Irish history offers a lot to work with when it comes to otherworldly manifestations. Below are just ten of the thousands of sites across Ireland said to be scarred by people on the other side. 10Dunluce Castle Dunluce Castle stands on a rocky outcrop just off the coast of County Antrim in Northern Ireland. Although it stands in considerable ruin today, Dunluce Castle is one of Irelandâ€™s oldest and finest castles. Built in the 14th century, the castle was
Source: MyGov Newsletter
Won two Participation certificates after many years ! Courtesy MyGov website. Really easy quizzes if you have been regularly reading news especially Development news or the Tweets of Narendra Modi or the MyGov website or Social media.
India dished out a clinical performance to book a record fourth final appearance at the ICC Champions Trophy after sweeping aside Bangladesh in a one-sided affair in Edgbaston on Thursday.
|Talent Shopping: Amazon hires about half a dozen Snapdeal senior executives|
|At a time when e-commerce firm Snapdeal is undergoing a due diligence from Flipkart’s team ahead of a potential stake sale, rival Amazon is busy shopping for senior talent that has recently quit the Gurgaon firm or is serving their notice period. At least five senior executives, holding positions such as vice president, assistant vice president and director at Gurgaon-based Snapdeal and its payments firm Freecharge, have been hired by Amazon for multiple roles. Mr. Amit Kurseja who was serving as assistant vice president, heading merchant solutions, payments and financial services products at Freecharge has joined Amazon India as its head of external payments, this month. Mr. Siddharth Bedi who was a senior director of supply chain at Snapdeal has also joined Amazon India as a senior program manager. Other who have quit Snapdeal recently to join Amazon India include – senior executives Mr. Chatterjee, Mr. Sunny Jain and Mr. Rahul Bansal. Mr. Viraj Chatterjee was vice president of technology who reported to Snapdeal’s Chief technology Officer Mr. Rajiv Mangala, Mr. Rahul Bansal was senior director of product management, head seller platform and Mr. Sunny Jain, director, business finance at Snapdeal. Some of the executives quoted above have quit the firm already while some are serving a notice period. New roles of Mr. Chatterjee, Mr. Bansal and Mr. Jain at Amazon weren’t immediately clear. At a time when senior executives continue to quit the firm, Snapdeal last month offered retention bonus its existing staff provided the deal with Flipkart goes through.|
|Source : 09-06-17 Moneycontrol.com Compiled by www.naukri.com|
|Uber CEO Mr. Travis Kalanick likely to take leave, close ally Mr. Emil Michael out|
|Uber Technologies Inc Chief Executive Mr. Travis Kalanick is likely to take a leave of absence from the troubled ride-hailing company, but no final decision has yet been made, according to a source familiar with the outcome of a board meeting. Mr. Emil Michael, senior vice president has left the company, the source said. At the meeting, the company’s board adopted a series of recommendations from the law firm of former US Attorney General Mr. Eric Holder following a sprawling, multi-month investigation into Uber’s culture and practices, according to a board representative. Uber will tell employees about the recommendations, said the representative, who declined to be identified. The company is also adding a new independent director, Nestle executive and Alibaba board member Mr. Wan Ling Martello, a company spokesman said. Mr. Holder and his law firm were retained by Uber in February to investigate company practices after former Uber engineer Ms. Susan Fowler published a blog post detailing what she described as sexual harassment and a lack of a suitable response by senior managers. The recommendations in Mr. Holder’s firm’s report place greater controls on spending, human resources and other areas where executives led by Mr. Kalanick have had a surprising amount of autonomy for a company with more than 12,000 employees, sources familiar with the matter said.|
|Source : 13-06-17 Firstpost.com Compiled by www.naukri.com|
|Paytm Mall gets a new Chief Operating Officer|
|Paytm Mall the ecommerce company of Mr. Vijay Shekhar Sharma run One97 Communications has appointed Mr. Amit Sinha as the Chief Operating Officer (COO). Interestingly, till now Paytm Mall was run by Mr. Sharma and vice presidents handled different verticals within the ecommerce arm. However the company did not have any COO to head the whole operations. “The ecommerce company till now was handled by the founder, however after Paytm Mall bifurcated into a separate entity and as the operations of One97 Communications have expanded, there is a need for a COO to head the ecommerce operations,” a source close to the company said. Mr. Sinha would be responsible for overall operations of Paytm Mall and expanding the team to ensure customers have access to the widest assortment of products across categories, delivered quickly through an efficient and optimised partner logistics network. Mr. Sinha who till now was the senior vice president of business, joined One97 in 2008. He has handled several key business roles in Paytm and helped implement critical business, HR and financial processes for the company. “We are innovating on multiple aspects of business and offering newer business opportunities for sellers. Paytm Mall also aims to be the preferred destination for consumers looking for the largest selection of products being sold by trusted sellers,” Mr. Sinha said. Paytm recently hived off its e-commerce business into a separate entity. This new entity started off with the same shareholding as the parent company of Paytm, One97 Communications Limited and raised $200 million from SAIF Partners and Alibaba Group Holding. Paytm Mall works with retailers and brands to build their online stores integrated with supply chain in a partner model. It is currently targeting to launch its new app in coming month.|
|Source : 12-06-17 Business-standard.com Compiled by www.naukri.com|
|Sears is slashing more jobs to cut costs|
|Sears said it’s cutting 400 jobs at corporate offices as it works towards a goal of reducing costs by $1.25 billion in fiscal 2017. The cuts will primarily affect workers at Sears’ headquarters in Hoffman Estates, Illinois. The move comes one week after the retailer revealed it was closing 65 more Sears and Kmart stores, in addition to the 180 closures announced earlier this year. Sears has also been eliminating store-level positions this year, as well as slashing hours for its part-time workers. “We are making progress with the fundamental restructuring of our operations that we initiated in February,” Sears CEO Mr. Eddie Lampert said in a statement. “We remain focused on realigning our business model in an evolving and highly competitive retail environment. This requires us to optimize our store footprint and operate as a leaner and simpler organization.” The company said it has achieved $1 billion in cost cuts so far this year and is on track to meet its goal of $1.25 billion in savings by the end of the year.|
|Source : 13-06-17 Businessinsider.in Compiled by www.naukri.com|
|IT companies look to allay fears as employees dread job loss|
|Even as the news of mass layoffs in the information technology sector continues to add to the worry of workers, large employers are looking at ways to speak to them and allay fears about job losses. “There is greater focus by IT companies to send effective internal communications- more townhalls, greater focus on talking about reskilling. Every company has some sort of internal reskilling platform going on,” said Ms. Sangeeta Gupta, Senior Vice President at industry body National Association of Software and Services Companies (Nasscom). According to Nasscom, India’s USD 155 billion IT industry added 1.7 lakh new jobs in the last fiscal, with a total employee base of about 39 lakh. There have been reports of over 50,000 people in the industry being laid off this year at some of India’s biggest IT companies such as Infosys, Cognizant, and Tech Mahindra. As a result, employees have hit a panic mode. Indian IT companies have consistently denied mass layoffs, but reports of employees being asked to leave is impacting optimism. “The experience of living with the possibility of redundancy, insecurity of job and watching others leave, has become part of the working experience of many employees which is definitely impacting the employee morale,” said Ms. Alka Dhingra, general manager at IT staffing firm TeamLease Limited.|
|Source : 13-06-17 Moneycontrol.com Compiled by www.naukri.com|
|McDonald’s is hiring this summer via ‘Snapchat’|
|In its bid to attract young applicants, American fast-food chain McDonald’s will hire some US workers this summer through the photo-sharing app Snapchat. The world’s largest burger chain said the company and its franchisees will hire about 250,000 people across its US restaurants for what is usually one of its busiest seasons of the year. The chain started accepting “Snaplications” in Australia last month, allowing potential employees to make video submissions with a special filter that shows them wearing a McDonald’s uniform. “We thought Snaplications was a great way to allow us to meet job seekers where they are – their phones,” Mr. Jez Langhorn, McDonald’s Senior Director of Human Resources in the US said. The video audition could be submitted to McDonald’s Snapchat account after which McDonald’s would send back a link to the application and digital careers page for a formal application. McDonald’s said that allowing applications through Snapchat will aid hiring efforts because many of its applicants are between the ages of 16 and 24. This is incidentally the prime user group of the photo sharing platform. The company is also set to use other platforms like Spotify and Hulu to reach potential job seekers.|
|Source : 14-06-17 Business-standard.com Compiled by www.naukri.com|
|Google hires Apple Chip Architect Mr. Manu Gulati, said to work on custom SoCs for Pixel Phones|
|With the introduction of the Pixel phone last year, Google made it clear to its rivals that it was bringing its focus to hardware. Popular for mastering software, the company outsourced the making of its Nexus phones to companies like HTC and LG, but all that changed with the Pixel last year. Now, Google’s latest hire indicates that the company is going all in with homegrown products. Google has reportedly hired Apple’s chip architect Mr. Manu Gulati to head its own custom chip ambitions, and has even posted several job postings that indicate Google is on a steady road to building its own custom SoC, just like Apple. After working at Apple for nearly eight years developing custom chips for many of Apple’s products, Mr. Gulati has decided to make the switch to Google. He recently updated his LinkedIn profile to indicate that he now works at Google. Mr. Gulati holds 27 years of expertise in the industry, and has worked with companies like AMD and Broadcom in the past. Apple’s custom chips give its products a competitive advantage over Android flagships that largely rely on Qualcomm to produce silicon for their devices, and are known for their industry-leading performance on most benchmarks. Mr. Gulati’s name figures on as many as 15 chip-related patents that Apple has filed in the past – some of these patents are said to be application specific, while others are related to chip architecture. One of these is around Apple Pay and hardware-based security that protects your fingerprint on the iPhone. With his level of knowledge and skill, hiring Mr. Gulati is a big advantage for Google and a loss for Apple.|
|Source : 14-06-17 Gadgets.ndtv.com Compiled by www.naukri.com|
|Intel to create 3,000 jobs in India with Rs 1,100 crore investment in new R&D centre|
|At a time where top IT and technology companies in India are cutting jobs due to the H-1B visa restrictions in the US, leading chip maker Intel Corporation announced that it will invest US$178 million (around Rs 1,100 crore) to expand its research and development (R&D) presence and build a state-of-the-art design house in Bengaluru. The proposed facility will be located at Intel’s 44-acre campus on Sarjapur Ring Road (SRR) in Bengaluru, Karnataka. With approximately 620,000 sq ft of space, including lab capacity, the new building with specialised infrastructure will be used for chip design and verification purposes, the company said. This fresh investment is in addition to the $2 billion the chip maker had invested into the country till 2016. Intel in India has about 7,000 technology employees to design and power the semiconductor chips for it global customers. These customers include original equipment manufacturers (OEMs) of computers, smartphones and other electronic devices. “Designed to be a “smart and green” building, the upcoming facility, SRR4, will be constructed using innovative “One High Technology,” with each floor being built on the ground, then lifted and attached to the of the building, and then built from the roof downward. This technology will enable the reduction of scheduled construction time by 30% as compared to traditional construction methods,” said the company.|
|Source : 14-06-17 Zeebiz.com Compiled by www.naukri.com|
|GM India exit: Employees’ voluntary separation scheme closes this week|
|General Motors (GM), which has decided to stop selling vehicles in the Indian market from the year-end, has given its employees in the country less than a month to opt for a voluntary separation scheme (VSS) as it starts winding down operations in the country. After announcing its decision to stop retailing vehicles on 18 May, the company sent mails to employees the very next day about the VSS that will close on 15 June 2017. General Motors India president and managing director Mr. Kaher Kazem had stated around 400 employees engaged in domestic sales and after-sales activities would be impacted. According to the internal communication, the company offered compensation of “45 days salary for every year of completed year of service or part thereof in excess of six months” in normal cases. On the other hand, for those who are nearing retirement, GM offered employees compensation of “monthly salary multiplied by the remaining months of service till normal age of retirement”. The minimum compensation payable eligible shall be three months’ salary, it added. According to people familiar with the matter, nearly 250 people in marketing, sales, finance and administration are likely to be given golden handshakes by September itself. Mr. Kazem had, however, stated at the time of announcing the company’s decision to exit from domestic operations that only half of 400 affected employees “are expected to move on by the end of 2017”. Employees in after sales department have, however, been issued letters for continuation of service till further notice, the sources added. When contacted, a GM India spokesperson said: “GM understands this is a difficult decision that impacts a number of our hard working and professional employees, and we are providing counselling, financial advice and outplacement support, as well as a separation package in excess of the statutory requirements.”|
|Source : 11-06-17 Livemint.com Compiled by www.naukri.com|
|Tech Mahindra to hire 1,200 more for Bhubaneswar centre|
|IT services company Tech Mahindra plans to increase headcount by 1,200 more at its Bhubaneswar campus by December this year. Tech Mahindra has about 1,100 employees at its Bhubaneswar facility now. “The IT Company has bagged contracts from Bharti Airtel and Amazon to start BPO services at the city campus. They have started hiring”, said a senior government official. Tech Mahindra is expected to complete the process by end of this year, he added. Meanwhile, the IT firm has started work on its second development block within the city campus. It plans to set up its third development block shortly. In December 2014, the company had inaugurated a new block at its existing campus to house 615 more IT professionals taking the total headcount in the state to 1,111. The new block was built at a cost of Rs 55 crore. Earlier, Tech Mahindra had announced to scale up headcount at its Bhubaneswar centre to 5,000. This included professionals for IT and ITes (IT enabled services) jobs. The IT company has plans to invest Rs 500 crore on its Odisha centre over the next five years.” The company’s plan to increase hiring speak volumes about the conducive environment provided by the Odisha government here. The expansion plan would help us in achieving the goals set in ICT policy of the state”, said the official.|
|Source : 13-06-17 Business-standard.com Compiled by www.naukri.com|
|No salary hikes for Hindustan Unilever’s CEO and CFO in 2016-17|
|Average salary raises for managers at Hindustan Unilever Ltd, India’s largest packaged consumer goods company, moderated in 2016-17, according to the company’s annual report. Salaries of chief executive officer and managing director Mr. Sanjiv Mehta and chief finance officer Mr. P.B. Balaji remained the same as in 2015-16. Mr. Mehta took home Rs14.20 crore and Mr. Balaji, Rs 8.33 crore in financial year 2017. Management board members Mr. Pradeep Banerjee, executive director, supply chain, and Mr. Dev Bajpai, company secretary and executive director, legal and corporate affairs received hikes of 8% each, taking home Rs 4.75 crore and Rs 4.69 crore respectively. This was higher than the average percentage increase in the median remuneration of the company’s employees for the financial year, 3.42%. “The remuneration paid during the year is as per the remuneration policy of the company,” said HUL, adding the average increase is also an outcome of the company’s market position. HUL had 5,976 permanent employees on its rolls as on 31 March 2017. “Earlier this year, the parent has declared that it will improve its operating profit margins by 300 bps (basis points). India contributes 8-9% to Unilever’s revenues and hence, we can expect moderation and rationalization in salaries and advertising to take place here,” said Mr. Abneesh Roy, senior vice-president, institutional equities at Edelweiss Securities Ltd.|
|Source : 09-06-17 Livemint.com Compiled by www.naukri.com|
|For FY18: Infosys to skip salary hikes for bottom rung|
|IT major will give no annual salary increase to a certain percentage of employees starting this fiscal, as part of its revised strategy to differentiate between the performers and rest. Infosys, which reported an employee base of little over two lakh at the end of March, 2017, as part of its new strategy will be more selective in doling out increments. Mr. Richard Lobo, executive vice president, Head HR – Infosys, said, “There will be a percentage of people who will not get anything this year.” This decision by Infosys has got to do with the broad changes in the sector with the industry growth rate coming down to single digits and stronger focus on people with skills which are in sync with business requirements. Mr. Lobo said the shift in thinking is linked with the budgets available to give out the salary hikes. “Today, one does not have the flexibility to give out lots of money,” he remarked. However, the HR head said that high performers will continue to receive higher salary increases which will go into double digits and majority of the employees will be given hikes in single digits. Mr. Lobo said the top performers in the company have consistently received a double digit rise in salary and this fiscal is also going to be no different. This shift has lot to do with focus on employees which bring in additional value in terms of technical skills and also higher billings. Infosys, which generally gives out annual salary hike in the month of April has now deferred it to July for this financial year. The company gave out average salary increase in mid-single digits for FY17. For the Indian IT industry which employs close to four million people, the salary increase over the last couple of years has come down to single digits, reflecting the subdued environment. Even the salary for the entry level engineering graduates has remained stable at around Rs 3.2 lakh over the last four to five years.|
|Source : 10-06-17 Indianexpress.com Compiled by www.naukri.com|
|SEBI gives conditional approval for appointment of Mr. Vikram Limaye as NSE CEO|
|India’s markets regulator finally approved the appointment of Mr. Vikram Limaye as chief executive officer and managing director of the National Stock Exchange of India Ltd (NSE), making it conditional on him being relieved from a panel of cricket administrators formed by the apex court. Approval of Mr. Limaye’s appointment by the Securities and Exchange Board of India (Sebi) had been held up by his role on the panel overseeing the functioning of the Board of Control for Cricket in India (BCCI). Sebi said that Mr. Limaye, currently managing director and chief executive officer of IDFC Ltd, will join the NSE, India’s largest stock exchange, only after he is released from the BCCI committee. “The condition in the approval is to ensure that his responsibilities at NSE are not compromised due to his additional role at the BCCI panel,” said a Sebi official. The Supreme Court on 30 January formed the four-member committee, pressing ahead with its efforts to reform the country’s richest sporting body. Sebi’s approval of Mr. Limaye’s appointment follows on the heels of an assurance held out to the market regulator by NSE that Mr. Limaye will not continue in his BCCI role beyond August and will recuse himself in case of an extension.|
|Source : 10-06-17 Livemint.com Compiled by www.naukri.com|
|Tata Consultancy Services’ digital head Mr. Satya Ramaswamy quits|
|Tata Consultancy Services Ltd’s (TCS) head of digital business Mr. Satya Ramaswamy has quit after India’s largest software services company reorganized that business. Mr. Ramaswamy, who joined TCS in 2010, was senior vice-president until he left the Mumbai-based firm last month. A TCS spokesperson said Mr. Ramaswamy left to pursue interests outside the firm. Till recently, TCS’s digital business, which accounted for 17% or $3 billion of total $17.58 billion revenue at the end of March 2017, used to comprise of cloud computing, analytics, and business from automation platform tools. Under the new structure, TCS has carved out individual components of digital and entrusted leaders to scale up business as more Fortune 1000 companies look at their IT vendors for solutions in newer technologies like data analytics to run their business better. TCS’s cloud computing business will be overseen by Mr. Satishchandra Doreswamy while automation service business will be headed by Mr. P.R. Krishnan, who formerly headed TCS’s infrastructure service solution business. In his new role, Mr. Krishnan will oversee TCS’s internal push to embrace automation and generate more business from selling automation tools to company’s clients. Data analytics will be headed by Mr. Dinanath Kholkar, who was earlier the head of TCS’s BPO business. Mr. Reguraman Ayyaswamy will head the internet of things (IoT) business. All these four leaders will report to president, Mr. Krishnan Ramanujam. Mr. Ramanujam will in turn report to the chief executive officer Mr. Rajesh Gopinathan.|
|Source : 09-06-17 Livemint.com Compiled by www.naukri.com|
|Tata Motors appoints Mr. Girish Wagh as Head of Commercial Vehicle Business|
|Tata Motors Ltd named Mr. Girish Wagh, known as the brain behind the Tata Indica, Tata Nano and Tata Ace, as the head of its commercial vehicle business. He has also been included in the company’s executive committee. Mr. Wagh, currently head of product line (medium and heavy commercial vehicles) comes in place of Mr. Ravindra Pisharody, who quit as executive director of the commercial vehicles business. Mr. Wagh will take charge immediately and work with Mr. Pisharody for a smooth transition, Tata Motors said in a statement. Wagh’s ascent to the top of the CV business comes at a time when the business is facing stiff competition from Indian and foreign rivals. A mechanical engineer from the Maharashtra Institute of Technology and a post-graduate in manufacturing from SP Jain Institute of Management and Research, Mr. Wagh joined Tata Motors straight from the campus in 1992. His appointment to the top post reflects the management style of Mr. Guenter Butschek, managing director and chief executive at the firm, said a Tata Motors insider. “He has quickly understood the DNA of the company,” this person said, adding that apart from being competent and having the requisite skills, Mr. Wagh has a great following within and outside the company. Mr. Butschek who took over the reins of the Tata Group flagship last February, has made several changes —from undertaking organisational restructuring to revisiting the systems and processes, as he seeks to bring the loss-making entity back on track.|
|Source : 13-06-17 Livemint.com Compiled by www.naukri.com|
… that today is Nature Photography Day? This day was designated by the North American Nature Photography Association (NANPA) to promote the enjoyment of nature photography and to explain how images have been used to advance the cause of conservation to protect plants, wildlife, and landscapes locally and worldwide. Celebrate today by using a camera to explore the natural world that surrounds you!
Today’s Inspirational Quote:
“Keep close to Nature’s heart… and break clear away, once in awhile, and climb a mountain or spend a week in the woods. Wash your spirit clean.”
— John Muir
500 Startups has announced the close of its fund for Japan, more than 18 months after it was first unveiled. The effort is backed by the Japanese government, which has chipped in as an LP via its Cool Japan Fund. (Yes, that really is the name of the fund, which is aiming to use about…
- You hack the Eventbrite site for the local soccer league and cross reference it with your child’s elementary school roster (downloaded from the school’s FTP site) to decide who to invite to your kid’s birthday party. https://giphy.com/gifs/dog-computer-wpoLqr5FT1sY0
“In order to achieve anything you must be brave enough to fail.”
— Kirk Douglas
This one is an Abstract. I read someone painted Indian Captain Virat Kohli’s Painting which was auctioned for Rs. 2.4 Cr. which was given to charity.
I thought of Indian Victory and return of the Champions Trophy to India and painted this one. I hope to present this to Indian cricket team once they have won the trophy.
THE FINAL INSPECTION
The soldier stood and faced God,
which must always come to pass.
He hoped his shoes were shining,
Just as brightly as his brass.
‘Step forward now, you soldier,
How shall I deal with you?
Have you always turned the other cheek?
have you been true?’
The soldier squared his shoulders and said,
‘No, Lord, I guess I ain’t.
Because those of us who carry guns,
Can’t always be a saint.
I’ve had to work most Sundays,
And at times my talk was tough.
And sometimes I’ve been violent,
Because the world is awfully rough.
But, I never took a penny,
That wasn’t mine to keep…
Though I worked a lot of overtime,
When the bills got just too steep.
And I never passed a cry for help,
Though at times I shook with fear.
And sometimes, God, forgive me,
I’ve wept unmanly tears.
I know I don’t deserve a place,
Among the people here.
They never wanted me around,
Except to calm their fears.
If you’ve a place for me here, Lord,
It needn’t be so grand.
I never expected or had too much,
But if you don’t, I’ll understand.
There was a silence all around the throne,
Where the saints had often trod.
As the soldier waited quietly,
For the judgment of his God.
‘Step forward now, you soldier,
You’ve borne your burdens well.
Walk peacefully on Heaven’s streets,
You’ve done your time in Hell.’
It’s the Military, not the reporter who has given us the freedom of the press.
It’s the Military, not the poet, who has given us the freedom of speech.
It’s the Military,not the
politicians that ensures our right to life, liberty and the pursuit of happiness.
It’s the Military who salutes the flag, who serves beneath the flag, and whose coffin is draped by the flag.
If you care to offer the smallest token of recognition and appreciation for the military, please pass this on and pray for our men who have served and are currently serving our country and pray for those who have given the ultimate sacrifice for freedom.
As so much of everyday life moves to the Internet, including grocery shopping, grocers must find profitable ways to revive the in-store experience while enhancing online options.
“I find it’s better to focus on what’s in front of you and to keep putting one foot in front of the other.”
— Mary-Kate Olsen
What are 20 harsh life lessons everyone should learn in their 20s? originally appeared on Quora — the knowledge sharing network where compelling questions are answered by people with unique insights.
- Life has already begun. There is no interlude. Nor is there a trial version. Your every decision matters.
- Your online friends are fake friends. Unfortunately, it’s true. Most of them do not care about you and will not come in your hour of need.
- If you fall in love, be ready to get your heart broken. It is tough and it hurts.
- Your studying career does not end after prom. Knowledge is crucial. If you are not willing to be left behind, keep studying.
- Your family members are the most important people in your life. They are the only ones who care about you. Treat them well and appreciate them.
- Your weaknesses do not matter. Learn to accept this. The only things that matter are your strengths. Improve them.
- Everything worth doing takes years. Do not expect to reach your goals too quickly. It will probably take much longer than you imagine.
- All the opportunities for growth are beyond your comfort zone. Make leaving it a habit. Find your discomfort zone. Enter it.
- Broken relationships are not worth staying in. Do not waste your time on things you cannot fix anymore. Let them go and move ahead.
- The world is full of injustice. There are plenty of unjust things you are likely to face within your lifetime. Be ready!
- Luck comes to those who work hard. Good things do not come to those who wait. Persistence and hard work are the only prerequisites for luck.
- There is no perfect moment to start. If you want to start doing something, act now. Do not wait for a better moment. It will never come.
- You cannot be everywhere and have everything. Learn to make the right choices and commit to the things that matter most.
- Every person in your life should be appreciated. Do not take people for granted.
- Experience and emotions are your best investments. The traditional measures of success — fancy cars and houses — are no longer relevant. Emotions, memories, experience, knowledge. These are the things that matter.
- Later often means never. Do not postpone anything. Live now!
- Success equals perseverance. Do not give up. Stay dedicated to your dreams. Chasing them is difficult, but it’s worth the struggle.
- Regular workouts are crucial. Take care of your health and body. Exercise regularly and make sure you are in a good shape.
- Your failures do not matter. Only wins count. Therefore, do not be afraid to fail.
- Nobody will help you. You have to help yourself.
Here are 49 questions to play with — instead of “What do you do?”
- What’s been on your mind lately?
- What are your two biggest insecurities?
- What moment from recently, keeps replaying in your head… why?
- What do you think the nature of the universe is?
- Do you believe in purpose? Why or why not?
- What do you think about the simulation theory? Do you think life is real?
- What makes you feel appreciated and loved? Do you know your love languages?
- Tell me an embarrassing childhood story…
- What are you most afraid of?
- Does death scare you?
- What do you think makes a good friend?
- Do you like to cook? What’s the last thing you cooked? Or was cooked for you?
- If you didn’t live here, where else would you choose?
- What’s your favorite emoji? When do you use it?
- Is there an emotion you feel that we don’t have a word for? If so, can you describe it.
- What would you be most likely to volunteer for?
- What are you looking forward to in the next few weeks?
- Do you have a favorite word? Why that one?
- When do you know you’ve reached adulthood? What makes an adult, an adult?
- What does money represent to you? Power, freedom, possession, possibility, guilt, success?
- Who do you turn to for sage advice on your personal life? How about your professional life?
- What kind of board games do you like? Or do you? When you play — are you the ultra competitive type or more collaborative? Does it upset you if you’re losing?
- What’s your plan for the zombie apocalypse? Apocalyptic skills?
- How do you center yourself when you’re stressed out?
- What’s your fav guilty pleasure junk food?
- Do you know your Myers-Briggs personality type, such as ENFP… What are your thoughts on personality assessments? Are you an introvert or extrovert? Do you like planning?
- Have you ever fallen in love at first sight with a person or a passion? Tell me about that.
- Coffee or tea? Or water? How do you take it?
- Tell me about your morning — the first 45 minutes after waking up today. What did you do… play-by-play?
- What kind of music do you listen to when you need to amp yourself up and get things done? How about when you want to mellow out?
- When you start telling a white lie — do you roll right past it or correct yourself?
- Let’s play word association… I’ll say a word, then you say a word that you associate with that word and we’ll go back and forth for a minute. I’ll start…
- How do you react when you do when you get envious or jealous?
- Do you ask people for help when you need it? How does that usually go for you?
- Do you have any food preferences — (vegetarian, gluten free, no chocolate, no cilantro, raw, soylent only)?
- Is your preference one-on-one time or do you love and feed off of social groups and diverse types of people?
- How do you handle feedback? Love or hate people giving you their unsolicited advice?
- What’s one thing, you don’t know… for sure?
- Who are you becoming?
- What excites you these days?
- What do you like to do?
- If you got to keep 50 objects including clothes and disposed of everything else, what non-clothing items would you keep?
- When was the last time you laughed really hard? What were you laughing at — or who were you laughing with?
- When is the last time you made someone smile? What did you do to provoke that response?
- If you were to give a TED talk this year, what would the title be?
- When was the last time your amazed yourself?
- How do you experience empathy? Where do you feel it in your body?
- What are three words your friends would use to describe you?
- Is there a quote you live by? If so, what is it? Mine is…
Uber Technologies’ board will discuss chief executive Travis Kalanick temporarily stepping away from the embattled ride-hailing firm and consider sweeping changes to the company’s management practices at a meeting on Sunday.
According a study by City & Guilds Group, 91 percent Indians feel threatened that their skills will become obsolete in the next five years.
… that today is Best Friends Day? Everyone has that one close friend, the one you can count on to be there for you, share secrets with, the one you want to just hang out with. Whether you grew up with them or met them later in your life, let your best friend know that you cherish them on Best Friends Day!
Today’s Inspirational Quote:
“Friends pick us up when we fall down, and if they can’t pick us up, they lie down and listen for a while.”
— Author Unknown
A statistical analysis of the state of peace in 163 countries outlining trends in peace and conflict, the economic cost of violence, and an assessment of the UN’s Sustainable Development Goal 16.
F. William Engdahl Global Research, May 15, 2017 New Eastern Outlook 13 May 2017 A President or head of State of a great nation, a major world
Ethical Alliance Daily News
Singapore: Singapore must stay corruption-free to progress: PM Lee
Jun 06, 2017 08:00 pm
Uganda: Corruption stifling investment in Uganda’s mining sector – rights group
Jun 06, 2017 07:30 pm
Slovakia: Thousands of Slovaks protest corruption, demand ouster of interior minister
Jun 06, 2017 07:00 pm
India: Six-month time to probe corruption cases, government amends rules
Jun 06, 2017 06:30 pm
Mexico: Mexico seeks extradition of yet another ex-governor facing criminal charges
Jun 06, 2017 06:00 pm
Tunisia: Tunisia’s Prime Minister Youssef Chahed warns no one safe in anti-graft ‘war’
Jun 06, 2017 05:30 pm
Good Governance the Modi Government way !
The directive comes after the commission noted that administrative authorities are not adhering to the time- schedule prescribed for completion of disciplinary proceedings.
from News http://www.telegraph.co.uk/news/2017/06/05/four-countries-cut-diplomatic-ties-qatar-gulf-rift-deepens/
SO there goes the Make in India Slogan out of window with few more Cuckoos waiting to fly out?
In a market that at last count had over 17 carmakers, and in which the top four control over 75%, a legitimate question to ask is: who next after GM?
Between 2004-2005 and 2015-2016, this govt company lost close to Rs 15,000 crore in total.
Finally America and Americans are having their Kejri moments and preparing for impeachment ?
Has Trump sent a cold signal to PM Modi by criticising India yesterday? This is what Trump said: “India makes its participation contingent on receiving billions and billions and billions of dollars in foreign aid from developed countries.” This was the first statement by Trump in which he targeted India directly. In his true fashion, Trump did not mince words: “Think of it: India can double their coal production. We’re supposed to get rid of ours.” This is a blatant lie and unbecoming of a POTUS to state without ascertaining facts.
After enjoying a weekend spent with a large group of people, this introvert questioned her self-labeling and whether she fits this label fully.
Advice on how to handle the feeling of phoniness, especially if you are an introvert who has been trying to pass as an extrovert in the workplace.
Do you have impostor syndrome as a quiet parent? Read 5 steps for fostering confidence and compassion in yourself.
And to think, they called names to India and put every possible pressure to accept the COP21 !
Thoreau said it right “Things don’t change, We Change”. Time Americans changed and first changed their President.
Did you know…
… that today is Big Ben Rings Out Day? Big Ben, the famous tower clock located at the top of St. Stephen’s Tower, rang out over the Houses of Parliament in Westminster, London, for the first time on this day in 1859. Trivia fans: A light above Big Ben lets the public know when Parliament is in session.
Today’s Inspirational Quote:
“You build on failure. You use it as a stepping stone. Close the door on the past. You don’t try to forget the mistakes, but you don’t dwell on it. You don’t let it have any of your energy, or any of your time, or any of your space.”
— Johnny Cash
|The Overall Job Market saw an 11% fall in new jobs, IT-Software industry most hit: Naukri Job Speak April’17|
|The Naukri JobSpeak index for Apr’17 at 1768 was 11% down from Apr’16, indicating a fall in the overall new job creation scenario. IT-Software industry was hit the most during Apr’17 with a 24% decline in hiring as compared to Apr’16. Key industries like Construction and BPO/ITES saw a 10% and 12% fall respectively, while Banking saw a 11% increase in hiring during April 2017 as compared to April 2016. Major metro cities recorded a YOY fall in Apr’17 as compared to Apr’16. Commenting on the report, Mr. V. Suresh, Chief Sales Officer, Naukri.com said, “As predicted earlier job market continues to be volatile and the Jobspeak index in April has shown a negative growth of 11% (YOY).Though major negative impact seems to be in sectors like IT/BPO/Telecom/Insurance and Construction, there seems to be an air of caution across all sectors and this volatility is likely to continue for few more months before the markets could move north again.”|
|Source : 27-05-17 Naukri.com Compiled by www.naukri.com|
|Another top exit at Flipkart, COO Mr. Nitin Seth quits ahead of Snapdeal merger|
|Mr. Nitin Seth, recently appointed Chief Operating Officer at India’s largest e-commerce marketplace Flipkart, has put down his papers as investor Tiger Global further tightens the reins around the company. Mr. Seth, who was appointed as Chief People Officer in March last year had quickly risen up the ladder at Flipkart. After Mr. Kalyan Krishnamurthy, former Tiger Global executive took over as CEO in January, Mr. Seth was offered the position of COO apart from heading Ekart and HR. Last week, it was reported that Mr. Krishnamurthy would take over HR functions at Flipkart, setting the stage for Mr. Seth’s exit. His departure comes at a time when Flipkart is in the process of buying smaller rival Snapdeal, in what should become the largest M&A deal India’s start-up sector has seen so far. When deals such as these go through, experts say HR becomes a key responsibility, as a company will have to take hard decisions of whom to let go. Apart from the acquisition of Snapdeal, which will create a hoard of redundant positions at the merged entity, Flipkart is also in the process of integrating eBay’s India unit within itself. Mr. Krishnamurthy took over as CEO, inherited an arduous task of reviving a company that was bloated and had lost direction. Exits of top executives such as Mr. Punit Soni, Mr. Manish Maheshwari, Mr. Mukesh Bansal, Mr. Ankit Nagori, Mr. Amod Malvia, Mr. Sanjay Baweja, Mr. Peeyush Ranjan and several others have made headlines in the past one year. The former Tiger Global executive’s hard handed tactics have however yielded results, with Flipkart fighting back rival Amazon’s rise in India. The Indian firm even raised a massive $1.4 billion from Tencent, eBay and Microsoft, which it said it will invest massively in technology and infrastructure apart from growing higher yielding categories such as fashion, furniture and appliances.|
|Source : 31-05-17 Business-standard.com Compiled by www.naukri.com|
|Uber Head of Finance Mr. Gautam Gupta quits|
|Uber confirmed that the company’s head of finance is leaving, just after the on-demand ride service trimmed its quarterly loss to $708 million on rising revenue. Mr. Gautam Gupta will depart Uber in July to become chief operating officer at a younger startup in San Francisco, according to the company. “Over the last four years, Gautam has been indispensable in helping build Uber from an idea into the business it is today,” founder and chief executive Mr. Travis Kalanick said in a statement. “We couldn’t have done it without him, and I will miss his energy, focus and infectious enthusiasm. “Uber said that its revenue during the first three months of this year rose some 18 percent to $3.4 billion, but the company logged a loss of $708 million without taking into account stock compensation for employees. Uber cited the numbers as progress, given that losses in the preceding quarter totalled $991 million. “These results demonstrate that our business remains healthy and resilient as we focus on improving our culture, management and relationship with drivers,” an Uber spokesperson said. “The narrowing of our losses in the first quarter puts us on a good trajectory towards profitability.” Uber has seen a shake-out in its executive ranks as it works through a series of scandals that included disclosures about a culture of sexism, cut-throat workplace tactics, covert use of law enforcement-evading software, and release of a dash-cam video showing Mr. Kalanick berating and cursing at one of Uber’s drivers. Uber said that it had fired an engineer accused in a trade secrets suit involving files he purportedly purloined from Alphabet’s self-driving car unit Waymo. The case stems from a lawsuit filed in February by Waymo, formerly known as the Google self-driving car unit, which claimed a former manager took a trove of technical data with him when he left to launch a competing venture that went on to become Otto and was later acquired by Uber.|
|Source : 01-06-17 Profit.ndtv.com Compiled by www.naukri.com|
|IT firms look for new skill sets in prospective employees|
|India’s information technology (IT) services industry is hiring engineers with skills in cloud computing, analytics and digital — the segments that clients are spending money on — even as companies tighten performance appraisals of employees working on legacy services where budgets are shrinking. Industry lobby group National Association of Software and Services Companies (Nasscom) sathe sector is expected to hire 150,000 people this year, with the top two firms — Tata Consultancy Services (TCS) and Infosys — making public that they intend to recruit more than 20,000 engineers each. IT firms are also undertaking a massive exercise to reskill the existing employees, nearly half of the 3.9 million people the industry employs, in emerging technologies as the industry faces its worst crisis in nearly a decade. Wipro, HCL Technologies, and Tech Mahindra did not disclose their hiring plans. Nasscom said the industry is witnessing an increasing demand for services using new technologies, such as artificial intelligence (AI), internet of things, machine learning and big data analytics. “While reskilling is imperative, there is a clear shortage of talent in skills, both in India and globally,” Mr. R Chandrasekhar, president, Nasscom, said in a telephonic interview. “But it is hard to give a number.” Today, clients are seeking services in digital, where applications need to have better designs for users to access on smartphones or shift them from existing IT hardware on premise to a secure place on the internet. This technology shift also means that firms need to work with clients jointly or even consult them, as against the traditional model of building software based on specifications. Clients also spend smaller amounts initially for the new work before scaling up, unlike multi-million dollar contracts Indian firms they bid for in the past.|
|Source : 30-05-17 Business-standard.com Compiled by www.naukri.com|
|SoftBank appoints India-born Mr. Rajeev Misra to board of directors|
|SoftBank has announced the induction of India-born Mr. Rajeev Misra who has been heading the firm’s Vision Fund since over seven months, into the company’s board of members. Earlier this month, SoftBank CEO and President Mr. Masayoshi Son signed a deal with the Saudi Government raising USD 93 billion capital for his Vision Fund. SoftBank Group and Saudi Arabia’s main sovereign wealth fund have committed to invest over USD 93 billion in technology sectors such as artificial intelligence and robotics. This will be the world’s largest tech innovation. The Softbank Vision Fund is expected to target long-term investment in firms that seek to target the next leg of innovation. Before heading the Vision Fund, Mr. Misra was the head of strategic finance at SoftBank. He joined SoftBank in November 2014. Mr. Misra has also served as the global head of credit at financial services firm UBS. SoftBank has funded a bunch of start-ups in India including e-commerce firm Snapdeal, wallet firm Paytm and cab aggregator Ola, among others.|
|Source : 26-05-17 Moneycontrol.com Compiled by www.naukri.com|
|Snapdeal’s HR head Mr. Saurabh Nigam quits, ahead of deal with Flipkart|
|Even as Snapdeal finalises the contours of a stake sale to Flipkart, the Gurgaon-based ecommerce company’s human resources Chief Mr. Saurabh Nigam has quit and will move out shortly. “An intense and enriching three years with Snapdeal comes to a nostalgic close. It has been a true honor to work with an outstanding team and exceptional leaders. It is now time to paint a new canvas,” Mr. Nigam said without specifying his future plans. Commenting on Mr. Nigam’s exit, a Snapdeal spokesperson said: “After spearheading Snapdeal’s human capital function for more than three years, Mr. Saurabh Nigam has decided to move on to pursue further career interests in a field close to his heart. He has been an integral and invaluable part of Snapdeal’s journey.” Mr. Pravin Kutty, Associate Vice President of Human Resources and Administration will head the human capital function post Mr. Nigam’s exit, the spokesperson added. Mr. Nigam had joined Snapdeal in 2014. Besides senior level exits, Mr. Nigam’s tenure also saw massive layoffs by Snapdeal impacting over 2000 employees. He also played a major role while the company scaled up its hiring initiatives during 2004-05 period. His departure comes soon after Snapdeal’s general counsel, Mr. Ashish Chandra quit the company as the deal with Flipkart was being driven by the company’s largest stakeholder SoftBank. Mr. Nigam joins the list of senior executives who have quit the company in the last few months such as Mr. Tony Navin, Mr. Abhishek Kumar and Mr. Sandeep Komaravelly, among others.|
|Source : 29-05-17 Moneycontrol.com Compiled by www.naukri.com|
|Wipro denies reports of plans to weed out 10% staff over low performance|
|Wipro has denied the reports stating that the tech giant asked its managers to identify the bottom 10 per cent of the workforce. Earlier reports said the company had taken the decision after the recently concluded quarterly appraisals in April. In an email response the company said, “We constantly seek to help our employees develop new and niche skills. Wipro’s rigorous appraisal process allows it to identify those employees who will need to be mentored and reskilled to align with the business priorities and strategic objectives.” Terming the reports of company reducing its headcount as misleading, Wipro said, “This is a regular practice and reports suggesting that the company is looking to reduce its workforce by 10 percent this year are false and have no merit.” The company said that they continue to hire talent from colleges and train them on new and emerging technologies, train existing talent on new technologies to fulfill demand and also hire senior level laterals from the market.” Meanwhile, a forum of IT workers is all set to get itself registered as the first union of techies in the country, amid reports of large scale layoffs by companies. “The Forum for Information Technology Employees (FITE) will be getting itself registered formally as the first union for IT employees in India,” forum’s vice-president, Mr. Vasumathi, said.|
|Source : 26-05-17 Businesstoday.in Compiled by www.naukri.com|
|EPFO: Provident fund contribution to stay at 12 per cent|
|The Central Board of Trustees (CBT), the highest decision-making body of the employees’ provident fund organization (EPFO), rejected the government’s proposal of pruning employers’ contribution to the employees’ provident fund (EPF) to 10% from 12% at present, even as it gave the retirement fund body its go-ahead for enhancing its exposure to the stock market to 15% of the incremental deposits from 10% now. Sources present in the CBT meeting said the proposal of reducing employers’ contribution saw vehement protests from the states, as well as workers’ and employers’ representatives, leaving the Centre with no option but to withdraw the proposal. Under the present law, it is mandatory for units employing 20 or more persons and earning up to Rs 15,000 a month to provide EPF benefits to workers. While employees contribute 12% of the basic pay to EPF, the employer contributes 8.33% towards the employee’s pension scheme and 3.67% to the EPF itself. Employees also make matching 12% contribution. Additionally, employers also pay 0.5% towards EDLI, 0.65% as EPF administrative charges and 0.01% as EDLI handling fee. The Centre had mooted the idea of pruning contribution to ensure that the take-home pay of employees increases and also to promote formal employment. But the employees’, as well as employers’ representatives, argued that lowering the contribution is not in the interest of the workers and should be done away with.|
|Source : 28-05-17 Financialexpress.com Compiled by www.naukri.com|
|Nestle invests in Latin American factories, creates 2,900 jobs|
|Swiss-based food company Nestle SA is creating thousands of jobs and investing in new factories in Latin America as it looks to tackle social issues and shore up its position in one of its strongest markets, the regional head said. The maker of Kit Kat chocolate bars and Nespresso coffee is working with government officials in the four countries that are members of the Pacific Alliance trade group — Chile, Mexico, Peru and Colombia – to create 2,900 jobs for young people over three years and teach job-hunting skills. “Our view on corporate responsibility is that to make it sustainable we have to do it in a way that is embedded in our business model. Integrating young people can help us shape our company at a time of digital revolution,” the company’s Americas head Mr. Laurent Freixe said in an interview. “We’re not proposing the jobs just to do good for society. Our business is developing and we have real needs. “The initiative follows a similar project carried out by Nestle in Europe in recent years, where some countries are just beginning to recover from a youth unemployment crisis. The company employs some 60,000 people in roles ranging from factory operatives to veterinarians in Latin America. Although a recession in Brazil and commodities-driven slowdown throughout the region had an impact, Freixe said areas such as pet care and coffee offered potential growth as Latin America’s middle class expands. “We have investments in many places. We are finalizing investments in pet food and infant nutrition in Mexico. We are discussing new sites (through the region),” he said, adding that the company was finalizing a new factory in southern Chile and that one slated for Cuba should be signed off by the end of the year.|
|Source : 31-05-17 Business-standard.com Compiled by www.naukri.com|
|Government expands Banks Board Bureau, appoints two more members|
|The government has expanded the Banks Board Bureau (BBB) headed by former CAG Mr. Vinod Rai by adding two more members. Former Allahabad Bank chairperson and managing director Ms. Shubhalaxmi Panse and private equity veteran Mr. Pradip Shah have been inducted into the board as independent members, a senior finance ministry official said. The appointment of two additional members to the BBB will strengthen the panel, the official added. The body is responsible for selection of MDs and directors of public sector banks and financial institutions. At times, pre-occupation of some of the members results in postponement or delay of the selection process. So, expansion of the Bureau will eliminate delays in timely holding of interviews for filling up key positions in PSU banks, the official said, adding that with the induction, the quorum will be maintained in case some member cannot report at the time of interview due to some unforeseen event.|
|Source : 29-05-17 Livemint.com Compiled by www.naukri.com|
|Key men at TCS get 31% pay hike, despite slowdown in IT industry|
|Tata Consultancy Services, India’s largest IT firm, offered a more than 31 per cent hike in remuneration to its key managers at a time when the rest of the company’s employees received average salary increase of around 10 per cent. The IT services major declared its performance-based hike in remuneration for the last financial year, the firm said in in its annual report for fiscal 2017. Former chief executive officer Mr. N Chandrasekaran, who served as TCS CEO till February 21, 2017, earned more than Rs 30.15 crore including a large share of commission in last fiscal. Mr. Rajesh Gopinathan, who was elevated as the chief executive officer in February, earned Rs 6.2 crore in total compensation for the same period. Mr. Gopinathan served as the chief financial officer of the company till February 21. Mr. N G Subramaniam, who became the chief operating officer since February, earned Rs 6.1 crore last fiscal. Two other key persons in the company’s executive team, Ms. Aarthi Subramanian, Executive Director and Mr. Suprakash Mukhopadhyay, Global Treasury Head and Company Secretary, were given more than 30 per cent increase. While Ms. Subramanian earned Rs 3.7 crore in last fiscal, Mr. Mukhopadhyay earned Rs 2.32 crore.|
|Source : 31-05-17 Business-standard.com Compiled by www.naukri.com|
|Cognizant India denies lay-off reports, says will hire across geographies|
|Cognizant, the NASDAQ listed IT services major with a major presence in India, has denied that it has laid off employees and has declared that it will continue to hire across geographies. Recent reports stated that Cognizant was in the process of laying off around 6,000 employees given the slowing growth rate of the industry. In an e-mail addressed to employees, Cognizant president Mr. Rajeev Mehta said, “Cognizant has not done any layoffs. Each year, in line with industry best practices, we conduct performance reviews to ensure we have the right associate skillsets to meet client need and achieve our business goals. Resulting actions are performance-based and generally consistent year to year.” The company continues to hire across geographies. “In our recently ended March 2017 quarter, we hired several thousand professionals globally, including top campus talent and experienced hires,” the e-mail said. The company at the end of March quarter, 2017 had an employee strength of 2.62 lakh. “Our performance management is based on having the right skill mix to succeed in the digital economy, globally. We are committed to being a meritocracy. We believe that’s good for all our associates around the world,” Mr. Mehta said in the letter. Cognizant, the NASDAQ listed IT services major with a major presence in India, has denied that it has laid off employees and has declared that it will continue to hire across geographies. Recent reports stated that Cognizant was in the process of laying off around 6,000 employees given the slowing growth rate of the industry. In an e-mail addressed to employees, Cognizant president Mr. Rajeev Mehta said, “Cognizant has not done any layoffs. Each year, in line with industry best practices, we conduct performance reviews to ensure we have the right associate skillsets to meet client need and achieve our business goals. Resulting actions are performance-based and generally consistent year to year.”|
|Source : 26-05-17 Financialexpress.com Compiled by www.naukri.com|
|Air India may recruit joint managing director soon|
|Air India Ltd is likely to hire a new joint managing director (MD) soon, even as the government considers disinvestment in the state-owned airline. “We are asking for a post creation from DoPT (department of personnel and training),” said an aviation ministry official. Air India has had two joint MDs since it merged with Indian Airlines in 2007. Bureaucrat Mr. Vishwapati Trivedi was the first. Mr. Syed Nasir Ali, an Indian Revenue Service officer deputed to the aviation ministry, was joint MD from 2012 to 2014. Since then, the post has not been filled. The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Mr. Narendra Modi, had asked the aviation ministry to fill the position, which fell vacant in 2014. The process had slowed since then, but gathered momentum again. The ministry wrote to DoPT last week to create the position. Earlier this month, ACC filled two independent director positions on the Air India board which had been vacant for several months. One is Bharatiya Janata Party’s national spokesperson Mr. Syed Zafar Islam, a former investment banker; and the other is former Hindustan Aeronautics Ltd chairman Mr. R.K. Tyagi, who previously served in the aviation ministry as head of Pawan Hans Ltd. The aviation ministry official quoted above said besides these, there was no move to bring in more people for now. Mr. Islam has a strong finance background, while Mr. Tyagi has been in aviation for some years now, the person said.|
|Source : 30-05-17 Livemint.com Compiled by www.naukri.com|
|Government begins hunt for new SBI chief to replace Ms. Arundhati Bhattacharya|
|The finance ministry has initiated the process for finding new chief of the country’s largest lender State Bank of India (SBI) as Ms. Arundhati Bhattacharya’s extended term comes to an end on October 6.”Department of Financial Services has communicated to Banks Board Bureau the emerging vacancies at the top level of PSU banks which will have to be filled during course of the year,” a senior finance ministry official said. This also includes chairman and one managing director of the SBI, which alone has market share of more than 20 per cent. Ms. Bhattacharya will complete her four-year term as chairperson of SBI on October 6. Besides chairman, SBI has four managing directors looking after different departments. The post assumes significance as the bank has recently merged five associates and the Bharatiya Mahila Bank (BMB) pushing SBI into the league of top 50 banks globally in terms of assets. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT), besides BMB, merged with SBI with effect from April 1. The process of integration would at least take a year.|
|Source : 28-05-17 Business-standard.com Compiled by www.naukri.com|
|Starting June, Tata Motors will move to performance-based salary structure|
|Tata Motors, one of the country’s largest automakers, will move to a new salary structure next month which will now be driven by a performance-based component aimed at maximizing the talent pool. This is part of the company’s attempt at restructuring operations, which also involved doling out voluntary retirement packages that led to the headcount falling by 1,300 during the final quarter of last year. “We have changed our performance and leadership evaluation method,” said Mr. Guenter Butschek, Managing Director of Tata Motors, in an interview to the in-house Tata magazine. We are about to introduce a performance-based remuneration scheme that answers the ‘what’s in it for me’ question. This is a core element in the transformation exercise as we will have a completely new remuneration scheme [it will be rolled out with the salary review in June 2017]”, The Mumbai-headquartered Company has cut business roles and responsibilities according to functions and product lines and platforms under the ‘Organizational Efficiency’ programme which was rolled out on April 1. The maker of cars, trucks and buses has brought its management structure down to 5 levels from 14. It also has a right-sizing programme that will improve efficiencies and bring “significant” cost savings.|
|Source : 26-05-17 Moneycontrol.com Compiled by www.naukri.com|