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Tag: business

  • Why “Work From Home” is a bad strategy?

    I have been working from home since I joined Canadian Tire four years ago. The only time I went to the office was to attend a training for three days. I admit, that spending the “official nine to five” work cycle in the office reinvigorated me and energized my spirit. Last month, we got an email from the head of our Human resources department that come October, all the employees of Canadian Tire would have to work from the office for four days a week. The notice came as a surprise to me since the company has had a very liberal approach towards working from home.

    Like most employers, Canadian Tire also switched to a full-fledged work-from-home model at the onset of the COVID-19 pandemic. Before that, the company followed mostly a hybrid policy, although employees had the privilege to work from their homes as and when required. There was no compulsion to go to the office every day in our five-day working week. The notice made me ponder the new “corporate strategy”. Is the work from home approach good? Is it efficient? In my earnest opinion, it is not. Here are my two cents on why I think working from the office benefits both the employee and the employer.

    There is no better place to work than an office to build strong comradery among a corporation’s staff members. It creates professional cohesion that enhances team building skills among the employees. Working from the office also builds a disciplined environment. People do not have the luxury of taking a “nap” during their working hours and have to be cognizant of the time. It creates a greater sense of responsibility among all its employees. Let me draw a parallel from my tenure in PGi, my first Canadian employer. I had to give a presentation at 10:00 AM EST. The free flow of ideas and thoughts among my colleagues who were “physically” present in the presentation room enriched everyone’s professional experience. It created an “emotional connection” with my task at hand. Can we have the same experience and connection had the entire activity been done remotely on our laptops? The answer is a categorical no.

    Not only is work from the office beneficial to an individual, it brings enormous benefits to the company as well. Employees have fewer distractions and focus more on their deadlines. It makes the employees efficient thereby increasing the productivity of the organization as a whole. People do not engage in “unprofessional” activities during their work hours like preparing for an exam, applying for educational programs, or just applying for other jobs. While I do agree that everyone has the right to engage in these activities to boost their careers ahead, it should not be done at the cost of work and their existing “paying” jobs.

    An argument is sometimes made that by letting its employees work from home, an organization saves the cost of operations. One case in point is that it does not have to pay for electricity bills, thereby implying that it saves the costs of maintaining its premises. I would disagree with this line of thought and argue that if employees work from the office, it increases their competency and efficacy. It improves the “per capita performance” of an employee which consequently enhances the overall productivity of the employer. Deadlines are met in time which further implies that the management can meet their business objective without delays. This for certain adds to the overall revenue of the organization. Furthermore, when projects are completed without any impediments, it creates goodwill for an organization among both its internal and external stakeholders.

    An establishment is not only about Laptops, hardware, and other apparatus. It is also not about sitting within our “isolated silos” at our homes. It encompasses all those person-to-person interactions, both at professional and personal levels that make us better and committed employees. Without an iota of doubt in my mind, I welcome the notification from my employer to work from the office.

  • Three most impactful business leaders in India

    I am a vigorous supporter of Capitalism. It is the only system that allows the enterprising spirit of an individual to nourish and grow and to reach its pinnacle. The principles of Capitalism aligns with the principles of human nature and that is the free flow of ideas and intellect across the borders. The 2008 financial crises, also known as the Great Recession, witnessed the intervention of the government to bail out several gigantic financial institutes and get them back on their feet. This was a blow to the tenets of the communist thought leaders who viewed that a capitalist system manipulates the workers and alienates any kind of public intervention.

    I am convinced that Philanthropy walks hand in hand with Capitalism. Some of the most successful business leaders that the world has seen are also the greatest philanthropists. From Bill Gates to Warren Buffet to Andrew Carnegie, Capitalist societies have produced umpteen number of Philanthropists who have made a dent in the world we live in. India, the world’s largest democracy, is not behind in churning out dynamic business leaders who, through their generous act of giving have reshaped the communities that we are part of. Through their sharp business acumen and a passion for giving back to the society, they make a positive and an everlasting impact on the lives of millions of people in our country. In my view, the three most admired business magnets that hailed from India are:

    Ratan Tata: If there is one name that will resonate eternally in the history of India, it will that of Ratan Tata. Since the last two decades, the country has experienced a sharp increase in the number of business persons but it is Ratan Tata who stands out amongst them. His unwavering faith in the ethos of the nation continues to inspire millions of Indians. A true believer in the immense potential of the country, his contributions to the Indian society are unmatchable and peerless. During his tenure, TATA group saw a manifold increase in revenue and profits.

    He envisioned that every ordinary Indian should be able to afford a car and this led to the launch of the world’s most affordable and “middle class” pocket friendly four wheeler, the Nano. While he was in office as chairman of the TATA group, the company experienced its position ascend in the international market. The acquisition of Jaguar, Tetley and Corus under his leadership created history and put India on a global map of business and innovation. These acquisitions earned not only the company respect from around the world but catapulted the group as a key player in the global marketplace.

    Beyond his extraordinary business leadership, it is the philanthropic aspect of his personality that motivates me, along with millions of Indian youth. A recipient of Padma Vibhushan, Mr. Ratan was one of the biggest international donors to both his Alma maters, Harvard University and Cornell University. His endowments to tackle some of the world’s most pressing issues are admired not only in India but across the western world. His profound generosity and conviction towards justice is exemplified by his donation of TATA trucks to the Sikh drivers who were victims of 1984 anti-Sikh riots. His optimism towards the budding and aspiring entrepreneurs of our country is reflected through his investments in start ups across the nation. These investments accompanied by his priceless mentorship to the youngsters strengthened the “start up ecosystem” in India. The country will always be indebted to this charismatic yet humble personality.

    N.R. Narayana Murthy: A household name for every Indian Information Technology (I.T) employee, N.R. Narayana Murthy is one of the most revered business leaders in India. He was named the “Father of the Indian I.T sector” by the TIME magazine. I would go a step further and say that Mr. Murthy is the father of the “Indian outsourcing Industry”. If there is someone who has shaped the outsourcing business in the country and earned a global respect for our technology sector, it is Mr. Murthy. He pioneered the virtually non-existent software industry into a behemoth recognized for its quality services throughout the world. A co-founder of Infosys, he today sits on the boards of numerous corporations and educational institutes. I am of an opinion that in order for India to propel itself and become a leader in the competitive “product research” market, it needs more visionaries like Narayana Murthy.

    Sudha Murthy: Wife of N.R. Narayana Murthy, Sudha Murthy is the founder of Infosys Foundation, the philanthropic arm of Infosys. A copious writer, she has authored several books both in English and Kannada. Through the outreach of Infosys Foundation, she continuous to make a positive impact on the lives of millions of impoverished and needy Indians. A recipient of the prestigious Padma Bhushan award, her contribution in the agriculture and health care sectors is highly commendable and recognized nationwide. As a member of the health care initiative of the Gates Foundation, Mrs. Sudha has played a crucial role in addressing the health related issues of the people, especially in the rural parts of India. She has also been instrumental in implementing governmental policies focused on technology. Through the Infosys Foundation, she has worked closely with the Karnataka government to provide laptops in all public schools across the state.

    I, along with millions of Indians continue to be inspired by these spirited business leaders that have an indelible mark on the business topography of our country.

  • How entrepreneurial are the Indian educational institutes?

    Waterloo is a small University town located in the Canadian province of Ontario. With a population of less than a hundred thousand, it is an entrepreneurial powerhouse. With more than one thousand start ups credited to its innovative history, the region is one of the most progressive startup ecosystems in the world. Situated twelve thousand kilometers away is Mumbai, India’s financial center. Indian Institute of Technology, or IIT located in this financial hub is one of the primary educational institutes in the Asian region. Its E-cell has spawned more than two thousand companies, making it the largest in the Indian subcontinent.

    This is not just a comparison between two of the finest institutes, it is a comparison between a highly developed G8 country and a one of the fastest developing countries in the world. Although, India has made great strides in developing an entrepreneurial environment, it still is a land of extremes. On the one side, we have universities that rank among the best in the global rankings, but on the other hand, we still have a significant population who can hardly put a signature with a pen.

    Indian startup scene is becoming more and more inclusive over the time. With an active role played by the governmental sector, the outreach program is reaching and changing lives of millions of people across the country. A few days back, I came across an article on Gatesnotes that talked about DroneDidis, an innovative public sector scheme which empowers women in rural Bihar to use the technology of drones to increase their agricultural output by effective use of fertilizers. This exemplifies how Indian entrepreneurial landscape is getting transformed, even though at a gradual speed.

    To create an enriching and a supportive platform for the ideas to nurture and mature into successful enterprises, it is not only the government sector that has to chip in, it is also the private players and other organizational stakeholders that need to contribute in the creation of a dynamic start up society. In my view, the Indian economical and business sector has gone through four waves of evolution. The first wave was the opening up of call centers after the liberalization of the Indian economy. The second wave was the onset of Information technology industry. The third was the investment of United States into the research and development sector in India, primarily in the cities of Hyderabad, Bengaluru and Pune. The fourth ongoing wave is that of the boom in startups or technology oriented small scale businesses.

    I firmly believe that educational institutes can play an instrumental role in developing and nurturing the entrepreneurial energies of the Indian youth. They can act as a “beacon of inspiration” and provide the much needed mentorship, especially the in nascent years of the budding entrepreneurs. Although more and more universities and educational institutes are embracing innovation and entrepreneurship into their academic fabric, much still needs to be done. While I do agree that we have come a long way as an innovative and a productive society, there are challenges ahead of us.

    Recently, I was going through the specializations offered by the Master of Business Administration , or MBA program of my alma mater and I was surprised to certain extent that entrepreneurship was not one of those. It is not only my university business school that still hasn’t introduced entrepreneurship as a stream, the story is same for majority of the educational institutes across the country. The startup scene on the campus is still concentrated in the premier universities of the country like the IIT’s, IIM’s and private educational colleges.

    I think this is where we still have a gap and this is what needs a change. While I do agree that academic and vocational institutions do need to create a “white collar” workforce and prepare its pupils to excel in corporate jobs, but I strongly think that universities need to invest its resources in development of “Job creators” as well. Incubators should be set up on university campuses which not only nourishes students in its technology departments but also encourages young and aspiring minds from arts and commerce departments as well. Students should have an access to mentorship, to investment capital and access to the market where they can launch their idea. Cutting edge paradigms and business concepts like Design thinking should be absorbed in the entrepreneurial training and skill development. The start up growth has to be inclusive for India to compete with other countries.

    It is rightly said that the development comes when the highest level of technology reaches the lowest level of the society. The “startup culture” needs to percolate deep into the Indian society. Our educational institutes have the potential to accelerate this development and catapult the nation to the global stage.