Corporate facts...

While working in a corporate culture, you may face very idiotic situations where you will find yourself so depressed and it will give you a sign of “job dissatisfaction”. One who wants to sustain in industry for longer time then it is utmost important to adopt some basis skillsets at his work. Once you are tied up with your company which is having global presence, your profile is not limited only to your domain / core area. You will be forced to handle unrelated assignments. Despite of this, many people have successfully achieved required skillsets. If you consider following aspects at your workplace, highest position will knock your door soon! Following factors are most effective time wasters in the corporate:

1.      Unwanted telephone interruptions /  calls where you are completely unlinked

2.      Unwanted meetings where you play NIL role

3.      No clarity of action plan

4.      Unwanted resources involved in simple tasks

5.      Rigid processes for execution

6.      Half information

7.      No support from other team members

8.      Escalation tactics

9.      No team work

One of my senior educated me by saying this: 80% of our time wastes to accomplish only 20% of our objects. I feel abovementioned situations are fit case fordisturbance of your corporate growth. TEAM WORK with a proper discipline is essential for corporate growth.

Manage your time effectively:

1.      Block your outlook calendar regularly and from time to time

2.      Plan your personal leaves in advance and keep your boss in loop in well advance

3.      Delegate a right work to right subordinates at right time

4.      Set realistic goals

5.      Short term, medium term and long term planning is important

6.      Prioritize your assignments in the criteria: URGENT>IMPORTANT>ROUTINE

7.      Set deadlines and then start working

8.      Do not work to achieve deadlines, work to achieve objectives in the deadlines set

9.      Outsource routine work to outside consultants which will help you to save your time

10.  Concentrate on managerial decision making process instead of execution of task

These are very small things which will enhance your corporate skillsets in your organization. If you stick to one management principle “Work your plan – plan your work”, I believe 5 days a week will be more than sufficient for you‼!

By:
Ishan Kulkarni

Embezzlement Techniques Illustrated In Arthasastra

1. What is collected earlier is accounted later

2. What is collected later is accounted earlier

3. What ought to be collected is not collected

4. What is hard to collect is shown as collected

5. What is collected is shown as not collected

6. What is not collected is shown as collected

7. What is collected in part is shown as collected in full

8. What is collected in full is shown as collected in part

9. What is collected is of one sort, when what is entered is of another sort, e.g. rice in place of pulses

10. What is realized from one source, is shown as realized from another source

11. What is payable is not paid

12. What is not payable is paid

13. What is payable is not paid in time e.g. delaying payments with a view to receive a bribe

14. What is payable is paid earlier e.g. payment before due date for a consideration

15. Small gifts are accounted as large gifts, when giving gifts

16. Large gifts are accounted as small gifts, when receiving gifts

17. What is gifted is of one sort, when what is entered is of another sort

18. Beneficiary entered in register is different from the one who received the gift

19. Materials received in treasury is removed or materials not received is accounted as received

20. Raw materials paid for are not accounted in the stores, while those that are not paid for are entered as received in stores

21. An aggregate amount received is entered as parts, e.g. tax received from a village is shown as tax received from individuals

22. Parts received are entered as an aggregate, e.g. tax received from individuals is shown as tax received from a village

23. Commodities of greater value exchanged for those of smaller value

24. Commodities of smaller value exchanged for those of greater value

25. Value of goods inflated, by increasing the price

26. Value of goods deflated, by decreasing the price

27. Number of days increased, e.g. with a view of misappropriating wages

28. Number of days decreased, e.g. with a view to collecting lower taxes

29. Discrepancy in the number of months in a year, e.g. not accounting for transactions in all the months

30. Discrepancy in the number of days in a month, e.g. not accounting for transactions in all the days

31. Inconsistency in the transaction carried on under personal supervision

32. Misrepresentation of the source of income

33. Inconsistency in accounting for charities

34. Incongruity in representing work done, e.g. superintendent of boats misappropriating ferry dues, under the false plea that only Brahmins crossed the river

35. Inconsistently in dealing with fixed [regular] items

36. Misrepresentation of the standard of fineness of gold and silver

37. Misrepresentation of the price of commodities

38. Using false weights and measures

39. Deception in counting articles

40. Use of false cubic measures

 

The article is extracted from the book titled “Corporate Disclosures: The Origin of Financial and Business Reporting 1553—2007 AD” by Shankar Jaganathan. ~Via the internet

Lessons I Learnt From a Client

Here are a few lessons I took from a client while working for them. I hope these are only a FEW from many many more to come.

1. Started with a Failed Attempt: They started their entrepreneurship journey with a failed attempt, but later changed tracks and reinvented themselves. They struggled initially but later on figured how to make things happen.

Lesson: So Entrepreneurs, it’s okay to have a few "issues" here and there. What matters is the attitude to fight and survive. 

2. "Job" Comfort "Monetary" Comfort is a distant dream:They don't know whats in store for them in the future however their spirit keeps them going. They are out there to create their destiny.Tirelessly working day in and day out to make their dreams come true.....

Lesson: Rings that feeling? This is not really a lesson, but a comfort feeling that yes here are the future leaders of the industry...

3. Passion never ceases:Using your entrepreneurial skills to fulfill your passion towards cricket and football (sports)..?? Heard of this..? You will hear it soon...

Lesson: Do what you love, and love what you do. Have a goal and put all your energies in achieving the same.

4. Persistence: ....

Lesson: One of the most vital qualities needed to succeed in business. 

I can draw the same lessons by looking at Sachin Tendulkar. For startup's these pointers should help... 

The path chosen is correct, way to go guys, all the best from Team Propelis.

80/20 Rule

After a tiring evening after work, I decided to sit and analyse how I spend my day. I took a pen and a paper and wrote down hour wise allocation to each client/activity. I realised that 20% of my work gave me 80% of the results. I asked Mr. Abhishek Muglikar what is this all about. Thus I was introduced to a concept. The Pareto Principle is very simple, yet very important. It is named after Italian economist Vilfredo Pareto, who, in 1906, found that 80% of the land in Italy was owned by 20% of the population.

What was most important about Pareto’s finding was that this 80/20 distribution occurs extremely frequently. For example, in general, 20% of your customers represent 80% of your sales. And 20% of your time produces 80% of your results. And so on.

I quickly realised that this could be used to generate higher revenues and profits. For instance, if I can figure out which 20% of my time produces 80% of my business’ results, I can spend more time on those activities and less time on others. Likewise, by identifying the characteristics of the top 20% of my customers (who represent 80% of your sales), I can find more customers like them and dramatically grow my sales and profits.

I want to take this rule to even higher level. I know that 20% of my customers represent 80% of my revenues. Within that initial 20%, the 80/20 rule also SHOULD exist. Meaning that the top 20% of the top 20% of my customers (or the top 4% overall) represent 64% of my sales (calculated as 80% times 80%).

We can find even more customers with this rule.

I have figured out a way to identify and use this rule to the fullest extent.

The Pareto Principle or 80/20 rule is an extremely powerful tool, when properly applied, for growing any business. The key is knowing how and when to apply it, and leveraging its exponential properties. At Propelis we are reaping its benefits after our integrated research team’s work and efforts we are ready for client delivery. Are you ready?

Regards,
Ashutosh Muglikar

Successful People Do 9 Things Differently Than Others

At Propelis we have training sessions every Saturday. We believe in continuous improvement. Both as a Company and as individuals. After brainstorming and long discussion with our Advisory Board Member Mr. Abhishek we have noted 9 things which should be followed for a successful career or for building a successful company. This blog is the first of many to follow as to what to do in 2014.
Why are only few successful but not others? You don’t know? You are not alone. At Propelis each and every individual believes that its not WHO you are but WHAT you do determines how successful you become.

So here are 9 principles we follow at our office and in our individual work spheres:

1. We Get Specific. When we set a goal, we are as specific as possible. “Complete Ten Tasks Today” is a better goal than “Do Your Work,” because it gives you a clear idea of what success looks like. SET SMART Goals. Goals should be: Specific, Measurable, Achievable, Realistic and Time Bound. Knowing exactly what you want to achieve keeps you motivated until you get there.

2. We Seize The Moment To Act On Our Goals. Kaal kare so aaj kar, aaj kare so ab. I don’t have to stress it any further.

3. We Know Exactly How Far We Have Left To Go. Our Advisor tells us: Plan --> Do--> Check --> Act. The PDCA Rule. Regular monitoring helps. Its essential. Monitoring will tell you where you are and what needs to be done. Monotoring could be daily, weekly or monthly depending on the goal.

4. We are realistic and Optimistic. When we are setting a goal, by all means we engage in lots of positive thinking about how likely we are to achieve it. But whatever we do, we never underestimate how difficult it will be to reach our goal. Most goals worth achieving require time, planning, effort, and persistence. This is really important.

5. We Focus On Getting Better, Rather Than Being Good. Believing you have the ability to reach your goals is important, but so is believing you can get the ability. Many of us believe that our intelligence, our personality, and our physical aptitudes are fixed — that no matter what we do, we won’t improve. As a result, we focus on goals that are all about proving ourselves, rather than developing and acquiring new skills.

6. We Have Grit. Grit is a willingness to commit to long-term goals, and to persist in the face of difficulty. Team Propelis develops grit to achieve our goals. Isnt this very important for success?

7. We Are Building Our Willpower. Willpower is important. Develop it.

8. We Don’t Tempt Fate. No matter how strong our willpower becomes, it’s important to always respect the fact that it is limited, and if we overtax it we will temporarily run out of steam.

9. We Focus On What We Will Do, Not What We Wont Do.
 
It is our hope that, after reading about the nine things successful people do differently, you have gained some insight into all the things you have been doing right all along. Please let us know your thoughts regarding these. Stay tuned for further info into things to do in 2014.

By:
Ashutosh Muglikar