World is shrinking into a “global village.” We are reaching a stage when we will stop referring business issues as global or country specific. As multinational companies integrate the world into one large economic biome, globally mobile workforce is vital for such worldwide incorporations to be feasible. Educational institutions providing global education have further worked as a catalyst for creating such workforce who can make this nexus possible. Multinational companies are today recruiting the best of talents across the national divide to maintain their corporate edge. Skill sets have become more important than the traditional inclination on judging people from the institutions they studied from.
Indians fast becoming the best choice for Globally Mobile Workforce
Indians have made a strong contribution to this global workforce movement. Interestingly, successful Indian emigrants both as entrepreneurs and working class show a clear distinction that the colleges they studied from hardly have any impact on their careers. Recently global mobility has shifted from sectors like IT and academics to diverse industries like hospitality, advertising, banking, and real estates. Avinash Gupta, Executive Chef at Ritz Carlton, United Kingdom says, “Studding from College of Hospitality and Tourism never acted as a deterrent in my profession, instead I have been able to secure this job only on the basis of my skills honed there. Institutes are never what people here look at; they see your skill and nothing will stop you from making it big if you have the right aptitude towards your profession.” Recently more and more Indians are making it big in foreign lands. When asked they share a common view that no matter which institution you study from your skill-set and aptitude alone are the only determinants of your success abroad.
Reason to rejoice: Outsourcing
Global workforce mobility is a rising phenomena, more so due to the rapidly increasing costs of doing business. Efforts for reducing costs have prompted companies to relocate their operations to more cost effective areas. Such business movement also has acted as a boon to globally mobile workforce. As an impact of globalization many international organizations have started sourcing resource and capital from across the globe. We have seen much liberalization in immigration policies across the developed economies of the world like US and many European countries including UK, France etc. This is only another example how global societies are excepting mobility of workforce.
Talent Migration
Talent migration is a strong feature of global mobility. Migration decisions are always categorized by push and pull factors. Factors that make a person leave the place of birth are called push factors while factors that make him come to the destination are known as pull factors. Push and pull factors are somewhat two sides of the same coins. We have generally seen psychological and socio-economic factors prompting migration. These ideologies have gained more significance in recent times as developed nations have started liberalizing their migration policy the world over due to the twin impact of fierce competition and aging native workforce. Migration has recently seen a new development. Many people have started migrating from developed nations to developing nations as an effect of outsourcing. More people today our taking part in this global reshuffle. Breaking traditional migration structure has helped globalization. Global workforce mobility has recently become a vital symptom of faster economic growth of the developing and developed economies.
As more and more people are leaving their native places for better prospects both inside and outside their country, business economies world over are evolving themselves to welcome talent across cultural and traditional barriers. In the coming decade, it is been predicted that many developed countries like US, Europe and Middle East, may have a severe labor shortage. It is evident that global mobility is vital to counter such shortcoming. Westernization has only helped encourage global mobility. Globalization is the future of worldwide prosperity, we need to nurture current generations towards such changing times. Educational systems need to be developed where skill enhancement is the epitome of a wholesome learning. We have the right numbers, now we need the appropriate skills that could make India the next super power. Although there are many factors that need attention, but global mobility is vital for societal upliftment and growth. We need to nourish this extremely encouraging future ahead with better education and infrastructure to provide for the booming service industry.
Friday, November 2, 2007
Corporate Sponsorship – Role of Corporates in Education
Education is most important for grooming a society for a bright future of a country. Education depends on equity. With government doing too little too late, Corporates need to take this responsibility. Thankfully, funding in education has now become a new frontier of Corporate Sponsorship. Today, Corporate funding support many areas of the educational sector from computer labs to after school care. While many corporations and service sectors have started making philanthropic initiatives in their local communities the need of more such funding is omnipotent.
Corporate Sponsorship is a vital source to many philanthropic initiatives today, yet the “giving back to the community” needs all the support as India stands on the brim of becoming a developed nation. Business takes and needs to give back to the community that has helped it gain the status achieved. Giving back to the community is a pleasure and a responsibility at the same time. Moreover, Corporate Sponsorship helps build better relationships between the corporate and the people.
Education has become a philanthropic priority today. From donating to schools to facilitating study materials, furniture and sponsoring needy children through their education, much can be done by a philanthropic business organization. Organizations can help educational institutions by helping them re-start government initiatives that are typically cut when the government enacts cutbacks. Programs like after school care to music and dance programs can be funded by such organizations. Some organizations have started helping youth, especially from weaker sections of the society, in learning skills that could help them get jobs or become self sustaining. Organizations have started providing mid-day meals and others provide day-care centers to working parents.
Philanthropy helps the corporate show social consciousness and responsibility, a much needed ingredients to increase corporate credibility in a society. The relationship that develops through these kind deeds of the organizations helps strengthen the bond between the community and the corporate world.
Corporate Sponsorship is a vital source to many philanthropic initiatives today, yet the “giving back to the community” needs all the support as India stands on the brim of becoming a developed nation. Business takes and needs to give back to the community that has helped it gain the status achieved. Giving back to the community is a pleasure and a responsibility at the same time. Moreover, Corporate Sponsorship helps build better relationships between the corporate and the people.
Education has become a philanthropic priority today. From donating to schools to facilitating study materials, furniture and sponsoring needy children through their education, much can be done by a philanthropic business organization. Organizations can help educational institutions by helping them re-start government initiatives that are typically cut when the government enacts cutbacks. Programs like after school care to music and dance programs can be funded by such organizations. Some organizations have started helping youth, especially from weaker sections of the society, in learning skills that could help them get jobs or become self sustaining. Organizations have started providing mid-day meals and others provide day-care centers to working parents.
Philanthropy helps the corporate show social consciousness and responsibility, a much needed ingredients to increase corporate credibility in a society. The relationship that develops through these kind deeds of the organizations helps strengthen the bond between the community and the corporate world.
Success Mantra for New Managers
The article talks on how a new manager can become a great manager.
The best mangers are those who have an unending appetite to learn and a strong will to work on their own. Management is not an easy task; even the most gifted people need to assign themselves to this enduring learning experience of self-development. Let me give you an example of a young man, Deepak, who sky rocketed his very short career to becoming a Senior Vice-President of Marketing of a Mega Store chain in just 3 years. When I asked him how he managed to tread this fast, he said, “I just raised my hand to every new opportunity that was presented to me in the firm, luckily they all worked...”
Although Deepak was being humble, we can gain an important perspective that to be a good manager, you need to take, what people call “career risks.” From his story, we learn that leadership can be a thrilling journey to self-development. Over the coast of his first few years, he made a series of upward and lateral moves that included a number of very tough assignments across many functional areas.
Deepak began as Director of regional operations in Mumbai. He had a profit and loss responsibility of more than thirty underperforming stores. By creating a string of direct reports, he set store standards, instituted training programs and rejuvenated performance. With an overwhelming market response, sales tripled in just one year. This success prompted further challenging assignments and then there was no looking back.
The best Manager is one who has an eternal desire for learning and is willing to work alone.
How can a manager learn to manage and lead?
Best managers are those who have an appetite to learn and are willing to work on themselves. Like Deepak, good managers need to be learners and willing to reinvent themselves repeatedly. Although some qualities of effective management are inborn, they can be acquired through experience and self-improving. Management is primarily learned from on-the-job experiences where the essence of development is diversity in adversity. The best way to succeed as a manager is to learn from your experience, reflect, and consolidate the lessons through these experiences. Introspection is a necessary habit in all new managers.
A good manager is one who collects feedbacks and analyzes their behavior, attitudes, and values. The more frank feedback that managers can obtain, the more accurate their assessment will be. No one can grow and develop alone; individuals should be prepared to seek assistance. Managers need to devote time and energy to build a network of development of relationships (superior and lateral, internal and external to the organization). From these developmental relationships (e.g. mentors or sponsors), potential managers can better learn from their own experiences by receiving feedback and advice and emotional support. These relationships can be helpful only if the managers are willing to take some risks by disclosing some of their shortcomings and open themselves to constructive criticism – admittedly a tall order.
Choosing the right responsibility
Although leadership is the best way to forge ahead, a realistic approach is omnipotent. Two factors need to be kept in mind while deciding on taking up a responsibility:
How good is the “fit” between the competencies needed for the job done and what the competencies are present in ones self
To what extend is this “fit” perfect – do you have the competencies to achieve the targets that are
This “fit” is rather subjective and has seen many people be excluded from better positions. One way most people cope with this reality is by hiding their real ambitions until they get their foot in the door. This is a dangerous tactic; as values of individual may vary from that intended by the company. The kind of compromises expected consequently may be substantial. Besides, being a credible leader when acting out an inauthentic self is very hard.
The finest assignments from the developmental perspective are those where the “fit” is imperfect and rather extended. Please note that this somewhat stretch is in terms of talents and not values. These assignments have more risk, as managers tend to make more mistakes that could easily blow up a great career progress. I would suggest that new managers should look for only those jobs that can influence initial fit to establish a self-reinforcing sequence of success, whereby, year after year they obtain more of the sources of power necessary to be effective and successful. Risks though significant must not be too great. Risks must never be more than the individual’s ability to cope with it. The best way to scale risks is by the time it will take to actualize the more the time it takes the more risk it has.
Tips on getting the flying start:
Be aware of your strengths, limitations, purpose and ethics in order to make the appropriate trade-offs between “fit” and learning opportunities while selecting a position. These traits are more visible to those who have a bit of experience. Those new in the careers can bring together their key strengths, important inadequacies, and core values through careful and organized introspection. The following are points you need to keep in mind while trying to get the right start:
Ask specific questions to yourself about the job you wish to undertake. These questions should be more like SWOT analysis you studied in your Management classes.
Choose suitable position, this would help convert general competencies into company or job specific expertise. You can only grow in a company when you make significant contribution to organizational performance, hence match your competencies with the industry demands.
Once you begin making these important contributions, your credibility in the organization will increase. Now you may find people ready to sponsor your ideas and become your mentors, taking risks on your behalf and endorsing you into the stretch assignments.
From these assignments, you will be able to gain more confidence, expertise and probably more relationships may be developed.
Soon, this cycle of success becomes self-boosting; your track record and credibility will touch new highs bringing you closer to the inner circles of an organization.
This is the best way to reach the top the quickest and with competence.
The best mangers are those who have an unending appetite to learn and a strong will to work on their own. Management is not an easy task; even the most gifted people need to assign themselves to this enduring learning experience of self-development. Let me give you an example of a young man, Deepak, who sky rocketed his very short career to becoming a Senior Vice-President of Marketing of a Mega Store chain in just 3 years. When I asked him how he managed to tread this fast, he said, “I just raised my hand to every new opportunity that was presented to me in the firm, luckily they all worked...”
Although Deepak was being humble, we can gain an important perspective that to be a good manager, you need to take, what people call “career risks.” From his story, we learn that leadership can be a thrilling journey to self-development. Over the coast of his first few years, he made a series of upward and lateral moves that included a number of very tough assignments across many functional areas.
Deepak began as Director of regional operations in Mumbai. He had a profit and loss responsibility of more than thirty underperforming stores. By creating a string of direct reports, he set store standards, instituted training programs and rejuvenated performance. With an overwhelming market response, sales tripled in just one year. This success prompted further challenging assignments and then there was no looking back.
The best Manager is one who has an eternal desire for learning and is willing to work alone.
How can a manager learn to manage and lead?
Best managers are those who have an appetite to learn and are willing to work on themselves. Like Deepak, good managers need to be learners and willing to reinvent themselves repeatedly. Although some qualities of effective management are inborn, they can be acquired through experience and self-improving. Management is primarily learned from on-the-job experiences where the essence of development is diversity in adversity. The best way to succeed as a manager is to learn from your experience, reflect, and consolidate the lessons through these experiences. Introspection is a necessary habit in all new managers.
A good manager is one who collects feedbacks and analyzes their behavior, attitudes, and values. The more frank feedback that managers can obtain, the more accurate their assessment will be. No one can grow and develop alone; individuals should be prepared to seek assistance. Managers need to devote time and energy to build a network of development of relationships (superior and lateral, internal and external to the organization). From these developmental relationships (e.g. mentors or sponsors), potential managers can better learn from their own experiences by receiving feedback and advice and emotional support. These relationships can be helpful only if the managers are willing to take some risks by disclosing some of their shortcomings and open themselves to constructive criticism – admittedly a tall order.
Choosing the right responsibility
Although leadership is the best way to forge ahead, a realistic approach is omnipotent. Two factors need to be kept in mind while deciding on taking up a responsibility:
How good is the “fit” between the competencies needed for the job done and what the competencies are present in ones self
To what extend is this “fit” perfect – do you have the competencies to achieve the targets that are
This “fit” is rather subjective and has seen many people be excluded from better positions. One way most people cope with this reality is by hiding their real ambitions until they get their foot in the door. This is a dangerous tactic; as values of individual may vary from that intended by the company. The kind of compromises expected consequently may be substantial. Besides, being a credible leader when acting out an inauthentic self is very hard.
The finest assignments from the developmental perspective are those where the “fit” is imperfect and rather extended. Please note that this somewhat stretch is in terms of talents and not values. These assignments have more risk, as managers tend to make more mistakes that could easily blow up a great career progress. I would suggest that new managers should look for only those jobs that can influence initial fit to establish a self-reinforcing sequence of success, whereby, year after year they obtain more of the sources of power necessary to be effective and successful. Risks though significant must not be too great. Risks must never be more than the individual’s ability to cope with it. The best way to scale risks is by the time it will take to actualize the more the time it takes the more risk it has.
Tips on getting the flying start:
Be aware of your strengths, limitations, purpose and ethics in order to make the appropriate trade-offs between “fit” and learning opportunities while selecting a position. These traits are more visible to those who have a bit of experience. Those new in the careers can bring together their key strengths, important inadequacies, and core values through careful and organized introspection. The following are points you need to keep in mind while trying to get the right start:
Ask specific questions to yourself about the job you wish to undertake. These questions should be more like SWOT analysis you studied in your Management classes.
Choose suitable position, this would help convert general competencies into company or job specific expertise. You can only grow in a company when you make significant contribution to organizational performance, hence match your competencies with the industry demands.
Once you begin making these important contributions, your credibility in the organization will increase. Now you may find people ready to sponsor your ideas and become your mentors, taking risks on your behalf and endorsing you into the stretch assignments.
From these assignments, you will be able to gain more confidence, expertise and probably more relationships may be developed.
Soon, this cycle of success becomes self-boosting; your track record and credibility will touch new highs bringing you closer to the inner circles of an organization.
This is the best way to reach the top the quickest and with competence.
1: A Guide map to Becoming Banker’s Ideal from that guy who cannot get Loans!
Problem getting Credit? Here is how you can solve it!
Money is a necessary evil! Wants turn into Needs the moment you have some of this M – word. Banks have relished this and showered us with numerous financing wonders to help us turn a want into a desirable need. However, by doing so, they have created a category of people like us who want everything under the sun but have bad credit scoring. Here are some tips to solve all your credit problems you foresee!
Let us first understand how does a credit score works. Credit scoring models are complex variable factors having variable effects. The best people talking about this would be your creditor. Nevertheless, scoring models generally follow the following types of information in your credit report:
To conclude, please remember:
Money is a necessary evil! Wants turn into Needs the moment you have some of this M – word. Banks have relished this and showered us with numerous financing wonders to help us turn a want into a desirable need. However, by doing so, they have created a category of people like us who want everything under the sun but have bad credit scoring. Here are some tips to solve all your credit problems you foresee!
Let us first understand how does a credit score works. Credit scoring models are complex variable factors having variable effects. The best people talking about this would be your creditor. Nevertheless, scoring models generally follow the following types of information in your credit report:
- Do you pay your bills on time?
- What is the outstanding debt you have?
- How long is your track record? The longer the better!
- Have you applied for new credit recently? The lesser the better!
- How many and what types of credit accounts do you have? More is good many are not good.
Scoring Models generally also focus on your current job or occupation. The length of employment and immovable assets like home that you own. Although every financing company has their own criteria for credit scoring, it is these generalized points that they generally are based on. This system was created to impartially make fast and accurate decisions on lending money to many people at a time. The reliability of such models hence reduces. Hence, there is a tendency to let people having low credit rating even get a hearing in front of the credit manager for further discussion and negotiation. Now, the credit manager will be looking for the following questions answered:
- Do you have an existing source of recurring income through an existing business? Is the income sufficient to make the loan payments?
- If you are new at business, what has been your experience in the business? Was it a profiteering one?
- Do you own enough financial reserves and personal collateral sufficient to solve the unexpected problems and fluctuations that affect all business?
I know you must be thinking if I was the above why would I need a loan! Well, that is where you are wrong. The credit manager is looking for a close match of the above. Remember the bank needs to stay in business too. To do so, they must lend to at least some people whose creditworthiness is less than perfect.
I know you have a gut feeling that you too can slip through the cracks I am pointing too. You can too qualify! The only thing you need to do is SHOW THE BANKER WHAT HE WANTS TO SEE! Become that Banker’s ideal customer.
- Person who has worked on a managerial level for a year or two of a successful business in the same field as the proposed business. Remember same business, different fields but good profits will not work. If you have to start this change, make sure you hire people with strong marketing background of the preferred business, to makeup for the lack of experience.
- Person having a good location, a sound business plan, and a little capital.
To conclude, please remember:
- Keep the Banker’s model in mind when making a Decision.
- Be skeptical to counter the optimism you have achieved.
- Be READY for questions like; what makes you think you can succeed in this business? If you are not ready to answer such questions, you are in deep trouble.
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