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Thursday, September 21, 2017

PERSONAL SPECIAL ....How People Make Decisions That Are Bad For Them

PERSONAL SPECIAL How People Make Decisions That Are Bad For Them

He looked shocked.
I was having a conversation recently with a guy who was telling me about his nephew, a high school senior. “He should be an engineer,” the guy told me. “Engineers make great money. The job market for engineers is good. My nephew should definitely become an engineer. Don’t ya think?”
“No,” I said.
(That’s when he stared at me, stunned).
“What?” he replied.
“No,” I repeated. “I don’t know your nephew. What are his strengths?”
“His strengths?”
“Yes, his strengths. What are his strengths, his gifts, his passions? What is he interested in?”
“Passion?” The guy scoffed. “Nobody chooses a job based on PASSION!”
I calmly replied, “It’s important for him to discover who he is…what his strengths, passions, and interests are…” and he looked at me like I was speaking gibberish.
I haven’t seen the guy again, and am not sure which career path his nephew will choose. But I know one thing for sure: if the nephw doesn’t understand himself, and if engineering doesn’t align with his strengths, passions, and interests, it might not be a great decision to become one.
We’re all guilty of making bad decisions. These decisions can greatly affect the course of our life. Whether we get involved in relationships that aren’t good for us, choose a career that doesn’t light us up, neglect our self-care repeatedly… we make bad decisions at times.
Why So Many People Make Bad Decisions
Making bad decisions can drastically change your life, leaving you unfulfilled and dissatisfied. When people make recurring poor decisions, they may not reach their potential.
People make bad decisions for many reasons. Their mindsets, lack of self-expertise, and following societal norms are three of the reasons they make poor decisions.
Your Mindset Determines the Quality of Your Decisions
Mindset, according to Merriam-Webster, is a mental attitude or inclination. It is important to recognize that your mental attitudes and inclinations are present and can greatly affect your ability to make decent decisions. Living your best life starts with your mindset. If you think small, make decisions based on limiting beliefs, and consistently avoid taking meaningful action due to fear, you will never reach your full potential.
Jim Taylor, PhD, explains cognitive biases as:1
“the tendency to make decisions and take action based on imited acquisition and/or processing of information or on self-interest, overconfidence, or attachment to past experience.”

He describes many cognitive biases. One bias, the myopia bias, he explains, is when you “see and interpret the world through the narrow lens of your own experiences, baggage, beliefs, and assumptions.”
The homecoming queen/king bias, Dr. Taylor writes, is when you “act in ways that will increase our acceptance, liking, and popularity.”
When you make decisions based on your cognitive biases, your choices aren’t always wise. It’s important to realize your mental inclinations are present.
Understand Yourself, but Don’t Let Your Feelings Lead You Astray
If we aren’t self-experts, it’s hard to make good decisions. Lions are amazing, strong, powerful, majestic animals. They know where they belong in the food chain, and they know where to live. They know how to hunt and how to act. However, what if a lion didn’t understand this, and attempted to live in the ocean? Surely it would NOT thrive in the ocean. The same goes for us. If we don’t understand who we are at the core, it’s hard to make the best choices that enable us to fully thrive.
When you understand yourself, you are better equipped to make good decisions. This does not, however, mean that you should always make decisions based on “how you feel.” In fact, making decisions based on your feelings can sometimes significantly restrict your growth.
For example, recently I was asked to speak to a group of business professionals. While I’m an extrovert and love being around people, and am very comfortable working with my coaching clients from around the world, standing in front of a crowd as a speaker is currently out of my comfort zone. My immediate response was discomfort, but I said “yes” to the invitation. Why? Because speaking is one of my goals, and I know as I move toward that goal I will be uncomfortable at first.
Stepping out of your comfort zone is necessary in order to experience growth. As Brian Tracy says,
“Move out of your comfort zone. You can only grow if you are willing to feel awkward and uncomfortable when you try something new.”
Following Societal Norms Can Lead to Bad Decisions
Societal norms affect people’s choices every day. The people you spend time with and society in general often influences the jobs you choose, the hours you work, the level of success you reach, your habits, and everything from your worldview to your view of what a “good” relationship with your significant other is.
Blindly following the crowd can cause you to live an unfulfilled life. Just because everyone you know works 9-5 in an office doesn’t mean that’s the best fit for you. Just because everyone you know has their kids in a bunch of activities doesn’t mean that’s the best plan for your family.
How to Make Great Decisions That You Won’t Regret
Three keys to consistently making great decisions are being aware of our mindsets, understanding ourselves, and making decisions intentionally instead of passively following the crowd.
Be Aware of Your Mindset
It is important to understand that your mindsets can lead you to make poor decisions. Success starts between your ears, with your mindsets. People often avoid making positive changes in their lives and doing big things because they believe achieving their biggest dreams is not possible for them. They settle for less than their full potential. Many people have an internal dialogue that is less than friendly toward themselves.
Start paying attention to your thoughts. When you think about achieving a big goal you have, what thoughts do you have? Are you encouraging toward yourself? If you discover that your self-talk is discouraging, work on modifying your thoughts. For example, if you think, “I can’t start a business; I don’t know how,” modify that sentence to “I don’t know how to start a business right now, but I can learn.” If you think, “I can’t lose weight; I failed last time I tried,” modify it to “I didn’t achieve my goal last time, but this time I’ll do x,y, and z to get great results.”
One way to minimize the risk of making poor decisions due to your mindset is by collaborating with an expert on your decision, or learning from people who have already done what you aspire to do. For example, when making career decisions, you can hire career counselors or executive coaches. If you want to retire when young and travel the world, learn from people who have done exactly that. Learning from experts and mentors who have achieved what you aspire to do can help you stay inspired and encouraged.
Become Self-Experts
Becoming self-experts is an important key to making good decisions. When you have a strong understanding of your strengths, your priorities, and the impact you want to make on the world, you can make purpose-driven decisions and live more fulfilling lives.
I highly recommend the book, Strengths Finder 2.0 by Tom Rath. The book helps people discover 5 of their strengths. Having a strong understanding of your strengths can help you choose a career path that allows you to maximize those strengths, rather than choosing a career that isn’t a good fit for you.
Make Decisions Intentionally
Being intentional with your decisions rather than passively following society’s recommendations for your life can help you make choices that align with what matters most to you. Pause to reflect and think about why you’re making the choices you’re making. Are you living your life in a manner that enables you to become the best version of you, and make the impact on the world that you are here to make? Or, are you living the life that society wants for you?
One simple step to being more intentional in your life is to write out a tentative schedule for your day. When you tell your time where to go, it can help you minimize time spent on time-sucking activities that don’t align with who you most want to be.
Also, as Jim Rohn says,
“You are the average of the 5 people you spend the most time with.”
Being intentional with who you spend time with can also steer you toward better decisions.
Although nobody’s perfect, and nobody has a perfect life, working on these strategies can help you make better decisions, leading to less regrets and a more fulfilling life.
Psychology Today: Cognitive Biases Are Bad for Business

Kerry Petsinger

INNOVATION SPECIAL I,,,,,,nnovators Under 35 INNOVATIVE Entrepreneurs E5. Jianxiong Xiao, 33

Innovators Under 35

INNOVATIVE Entrepreneurs

E5. Jianxiong Xiao, 33
His company AutoX aims to make self-driving cars more accessible.
Jianxiong Xiao aims to make self-driving cars as widely accessible as computers are today. He’s the founder and CEO of AutoX, which recently demonstrated an autonomous car built not with expensive laser sensors but with ordinary webcams and some sophisticated computer-vision algorithms. Remarkably, the vehicle can navigate even at night and in bad weather.
AutoX hasn’t revealed details of its software, but Xiao is an expert at using deep learning, an AI technique that lets machines teach themselves to perform difficult tasks such as recognizing pedestrians from different angles and in different lighting.
Growing up without much money in Chaozhou, a city in eastern China, Xiao became mesmerized by books about computers—fantastic-sounding machines that could encode knowledge, logic, and reason. Without access to the real thing, he taught himself to touch-type on a keyboard drawn on paper.
The soft-spoken entrepreneur asks people to call him “Professor X” rather than struggle to pronounce his name. He’s published dozens of papers demonstrating clever ways of teaching machines to understand and interact with the world. Last year, Xiao showed how an autonomous car could learn about salient visual features of the real world by contrasting features shown in Google Maps with images from Google Street View.
—Will Knight


TECH SPECIAL IFA 2017 - All the big launches from Berlin's tech show

TECH SPECIAL IFA 2017 - All the big launches from Berlin's tech show

From the world's first fanless convertible laptop to an augmented reality headset for a Jedi-experience, these gadgets are the best tech can offer today

LG V30

While LG's latest flagship lost some of the personality found in earlier V-series phones, the new V30 is still the most interesting smartphone announced at IFA this year. It is the first phone to feature one of LG's new POLED screens.Its rear camera has a wide f1.6 aperture, a built-in 32bit HiFi digital to analog c onver ter a nd a sle ek glass-backed design.

Asus Windows Mixed Reality Headset

Asus revealed its latest Windows Mixed Reality Headset at IFA 2017, and it boasts 3K resolution (at 90Hz), and uses inside-out tracking via two cameras on the front of the device -essentially this means that it doesn't need any complicated setup. The headset won't make you sweat as it uses breathable materials.

Acer Switch 7 Black Edition

Acer announced the world's first fanless 2-in-1 convertible laptop, the Acer Switch 7 Black Edition.

This impressive machine is liquid cooled and comes with a discrete g raphics card that lets it handle graphicintensive software.

Neato Botvac D7 Connected

The Botvac D7 uses a collection of cameras and sensors to map out your home, so you can set boundaries on where your robo-vac can, and can't go. You can also use the map to prevent the vac from disturbing someone's sleep by restricting its access to certain areas during naptime.

Sony Xperia XZ1 Compact

Sony showed off its smaller variant of the Xperia XZ1 -the Xperia XZ1 Compact. As with Sony's previous Compact editions, the XZ1 can do a lot of the things its bigger brother can, which could make this a good choice for people looking for a flagship phone that's easy to hold in the hand.

Disney's Jedi Challenges AR headset

Star Wars fans have always dreamt about what it would be like to have a lightsaber and the powers of the Force. Thanks to a partnership between Disney and Lenovo, the new augmented reality-powered Jedi Challenges headset uses your phone to give you the most realistic Jedi experience yet. You will get training from Jedi masters including Yoda and Obi-wan before confronting Darth Vader, Kylo Ren and others.

Harmonix DropMix

The concept behind the DropMix is that by slap ping cards with embedded RFID tags onto an interactive game board, you can mix and create mashups using snippets from a wide selection of popular songs. The board comes with an initial set of 60 cards, with expansion sets of mystery packs.

Logitech Craft keyboard

The new $200 Craft keyboard dons a gorgeous design with nearly silent low-profile keys, a practical hardware dial, and software that lets you wirelessly control multiple computers with the tap of a button. Better yet, Logitech has partnered with Adobe and Microsoft for some pro features.
Sep 07 2017 : The Economic Times (Mumbai)

MANAGEMENT SPECIAL .....Organizational health: A fast track to performance improvement

Organizational health: A fast track to performance improvement

Working on health works. It’s good for your people and for your bottom line.
The central idea underlying our organizational work for the past decade has been that the best way to run a business is to balance short-term performance and long-term health.
Healthy companies, we know, dramatically outperform their peers. The proof is strong—the top quartile of publicly traded companies in McKinsey’s Organizational Health Index (OHI) delivers roughly three times the returns to shareholders as those in the bottom quartile—so strong, indeed, that we’ve almost come to take it for granted.
But now we see new, longitudinal evidence that redoubles our conviction. Companies that work on their health, we’ve found, not only achieve measurable improvements in their organizational well-being but demonstrate tangible performance gains in as little as 6 to 12 months. This holds true for companies across sectors and regions, as well as in contexts ranging from turnarounds to good-to-great initiatives.
Our recommendation is clear: start managing your organizational health as rigorously as you do your P&L, providing pathways for leaders at all levels to take part and embedding and measuring the new ways of working.
Health and the bottom line
We think of organizational health as more than just culture or employee engagement. It’s the organization’s ability to align around a common vision, execute against that vision effectively, and renew itself through innovation and creative thinking. Put another way, health is how the ship is run, no matter who is at the helm and what waves rock the vessel.
The case for health
Over the past ten years, we’ve monitored the health of more than 1,500 companies across 100 countries. We do this by aggregating the views of their employees and managers (more than four million to date) on management practices that drive nine key organizational dimensions—or “outcomes,” as we call them. We assign scores to each practice and outcome, allowing a company to see how it compares to others in the database.
We’ve long seen a strong, static correlation between health and financial performance. But our latest research is more dynamic: it highlights the potential for the vast majority of companies to improve their health and how this can correspond with enhanced performance. Our findings include the following:
·         Almost all companies perform better if they improve their health. Around 80 percent of companies that took concrete actions on health saw an improvement, with a median six-point increase in their overall health. The majority of these companies moved up an entire quartile against all other companies in our database. Over the same period that the companies in our sample were making changes to their health, their earnings1and total returns to shareholders (TRS) were also increasing disproportionately—by 18 percent and 10 percent, respectively (against an average 7 percent increase in earnings and an average 9 percent increase in TRS for those companies in the S&P 500).
·         The unfit are the most likely to make the biggest health advances. After working on their health, companies in the bottom quartile saw a 9-point health improvement, with notably strong improvements in the company direction (+17 points) and innovation and learning (+14 points) outcomes. This group of “health workers” made progress across every outcome.
·         Those at the top achieve the biggest financial rewards. Companies whose health-improvement efforts took them from the second quartile of the OHI to the top quartile recorded the biggest financial-performance boost, a clear sign that working on health is an important factor in going from “good” to “great.”
Companies that take concrete actions to improve their health can deliver impressive results
Could the causality run the other way? In other words, when companies improve their financial performance, might their people align, execute, and renew better and therefore be more likely to identify healthy changes in the characteristics of their organizations? In theory, yes. In practice, though, we’ve seen the opposite, over and over again. Consider, for example, the experience of a European entertainment company: Over the past three and a half years, it’s moved from the third quartile of the OHI to the top decile. Financial performance has improved dramatically during that period as well (its market share is up 7 percent, customer volume is up 15 percent, and EBITDA is up 85 percent). But when the company was acquired recently by a larger competitor, it was the improvement in health that particularly stood out. The acquirer’s CEO said that, in his mind, organizational health accounted for at least 10 percent of the entertainment company’s value. Health, in short, isn’t some survey artifact; it’s something you can see and feel when you’re inside a healthy company and a prerequisite for sustained performance.
Speed and rigor
Given all the data and practical experience that supports working on health, companies’ obsession with the P&L alone continues to puzzle us. It’s right that leaders manage their P&L meticulously, but why not do the same for their health? In fact, why not measure health frequently throughout the year, since it’s a leading indicator of performance, whereas financial results are a lagging one? Similarly, why do the vast majority of employee-performance dialogues focus on progress against financial targets, and not on whether behavior is contributing to organizational health?
In private conversations, executives often confess to being quite torn on this issue. They of course want a healthy organization, but they worry about how long it will take to realize tangible benefits from efforts to improve health and about distracting people from other mission-critical priorities. Our experience suggests that these concerns are misplaced. Just as anyone can compete in a 5K race if he or she trains properly, so too can companies be conditioned to improve their health in a short period of time—and those improvements can reinforce those mission-critical priorities.
The key to speed is a rigorous approach. This starts with making the quest for organizational health an integral part of forward-looking leadership: senior leaders need to consider themselves architects, not passive bystanders. Then it means integrating health into monthly and quarterly performance reviews, with data to show how both are trending versus targets. Supporting priorities include tying financial incentives to accomplishing health goals; creating and holding accountable a health team dedicated to embedding the right behaviors in the organization; and weaving health into the performance initiatives already under way.
A focused approach to achieving organizational health quickly
So how do you make health gains quickly? In our experience, there are four areas forward-looking leaders must invest in to build a healthy, performance-driven organization (besides, of course, ensuring that they are fully aligned on the business strategy; strategic and organizational misalignment are a surefire path to poor health and general operating dysfunction). The first, most important step is choosing the performance culture—or what we call the “recipe”—that will best drive their organization’s performance. Then it’s about moving to adopt that recipe as quickly as possible, addressing the mind-sets that will drive new forms of behavior, building a committed team of people at all levels to get involved, and, finally, developing fast feedback loops to monitor progress and course correct if necessary. These actions will help companies target resources on the right priorities, move swiftly, and make the new habits stick.
Pick a health recipe
It’s clear that there is no such thing as a single winning performance culture. But based on our OHI analysis, we have identified four combinations of practices (or “recipes”) that, when applied together, drive superior health—and quickly. We call these four the Leadership Factory (organizations that drive performance by developing and deploying strong leaders, supporting them through coaching, formal training, and the right growth opportunities); the Continuous Improvement Engine (organizations that gain their competitive edge by involving all employees in driving performance and innovation, gathering insights and sharing knowledge); the Talent and Knowledge Core (organizations that accelerate their performance by attracting and inspiring top talent); and the Market Shaper (organizations that get ahead through innovating at all levels and using their deep understanding of customers and competitors to implement those innovations).
They all sound pretty good, right? The reality is, though, that organizations can’t do all of them, which is why a focus on one of them will lead to better and speedier results. Our research shows that when organizations are closely aligned to any one of these four recipes, they are six times more likely to enjoy top-quartile health than companies with weak alignment or diffuse efforts. Achieving such alignment requires focus on a small set of organizational-health practices (usually no more than five to ten) that work in concert with each other. Contrast that with what happens more commonly: leaders in various parts of the business copy different external “best practices” across myriad management disciplines. This approach diffuses people’s efforts, can easily result in conflicting approaches, and hinders development of the sort of common performance culture that connects employees regardless of where they sit.
Any one of four ‘recipes’ can produce superior organizational health.
A family-owned Asian conglomerate faced this very challenge: People across the organization employed “best practices” from multiple sources and were adapting them in different ways. As the conglomerate’s leaders sought to change its conservative, risk-averse culture to a more innovative and entrepreneurial one, they began placing greater emphasis on organizational health and chose the Continuous Improvement Engine (CIE) recipe to govern their health strategy. Three themes were central to that strategy: improving knowledge sharing across business units, developing innovation and entrepreneurship, and improving employee motivation. Heads of HR across the business units drove the subsequent learning initiatives under the CEO’s sponsorship, launching a corporate academy on innovation, promoting regional innovation conferences, and providing extrinsic motivators such as nontraditional career paths for innovators and entrepreneurs. This consistent and coherent approach led to a nine-point improvement in health.
Get to the heart of the mind-sets
Don’t be fooled by the symptom; understand the cause. To create rapid and lasting progress on the set of practices that will drive health, companies have to identify and address the deep-rooted mind-sets influencing employee behavior and then define new ones to replace them.
When seeking to understand and address these mind-sets, we like to use the image of an iceberg popularized by MIT academics Otto Scharmer and Katrin Kaufer.  Above the surface (the tip of the iceberg) is the visible behavior repeated and reinforced by the organization every day. Under the surface are employees’ thoughts and feelings (both conscious and unconscious); their values and beliefs (the things that are important to them); and their underlying needs, including their fears and the threats to their identity. These below-the-surface factors have to be understood and addressed before shifts in behavior and culture can be realized to drive organizational health.
Once a company has identified the mind-set or mind-sets it wants to instill in employees, it needs a set of actions to change the working environment and drive adherence. Here, McKinsey’s long-established influence model defines practical interventions that help structure a way forward. Is there a clear change story to foster an understanding of why a new approach is required? What incentives should be introduced to reinforce that new approach? Are training programs required to improve the skills of people in the organization? Are leaders across the business role modeling the appropriate mind-sets? Being clear on these four dimensions is likely to be critical to the long-term success of a program for improving organizational health.
A global equipment manufacturer was under pressure from cost-competitive entrants, challenging its long run of dominance in a specialized, capital-intensive industry. With its most recently released product coming in at greater than ten times its original budget, the company needed to drive down costs to maintain its market position. Leaders had been trying to address this problem, but their lack of results only led them to more frustration.
The breakthrough came when, supported by the OHI, they realized there were deeply rooted mind-sets across the organization that were holding it back. The leadership team ultimately identified five of these mind-sets—the most important of which was how, historically, the organization had prioritized on-time delivery and product performance, often at the expense of product cost. In practice, engineers felt it was their job to design incredible products, with cost being an output rather than an input. To shift this thinking, the leaders set out to demonstrate that cost was just as important as on-time delivery and product performance. They launched a number of highly visible initiatives that gave them the opportunity to role model the appropriate new behavior and highlight the rewards associated with it, then rolled the initiatives out across key parts of the organization—especially in engineering, operations, and supply-chain management.
The company also found simple and low-cost ways to embed the new mind-sets. One of these included giving all employees who attended a health town hall or participated in an initiative a lanyard with a red and green card. The red card shared the company’s performance-limiting mind-sets, while the green card shared the performance-accelerating ones it sought to embed. This simple reinforcement made it quickly obvious who had the lanyards and who did not, providing a constant signal for all employees to take part in the program. It also served as a vehicle for providing feedback: in initiative team meetings, employees called out “red” behaviors by holding up their red card, allowing everyone to pause and colleagues to reset their approach. Employees reinforced “green” behavior, too, thereby encouraging others that they were on the right track. Thanks to these steps, the company’s current pipeline of products is on track to meet its delivery, performance, and cost targets.
Engage employees at all levels
It requires strong leadership and role modeling for change to take hold quickly. But change is not a top-down exercise. Health improvement happens quickly and sustainably when you drive it top to bottom, bottom to top, and side to side. This is best done by engaging a committed community or network of formal and informal influencers.
Influencers exist at all levels of an organization, ranging from assistants to middle managers. Such people often have an oversized impact on motivating colleagues. They may be rising stars or simply well-liked and enthusiastic team players with a positive attitude. And while in many cases they are not immediately visible to leaders, they can be unearthed via simple survey-based technology that asks employees to identify people who meet the characteristics of an influencer. Companies that map them—the exercise should take no more than one to two weeks—are often surprised by how deep many of these people are within the organization. Such influencers reinforce leadership’s case for change, role model the new mind-sets, collect feedback on what’s going well and what’s not, and excite and engage the front line.
An electronics company in Europe successfully unleashed the power of a group of influencers as part of its drive to become more innovative and customer focused. Employees had been generally upbeat about the transformation, but the company noted that attitudes didn’t change and leaders were struggling to translate their vision into new forms of behavior. Senior leaders therefore identified a minimum of two people in each location or function who were acknowledged and respected by their peers, regardless of their level in the hierarchy, and invited them to help communicate the progress of the transformation, to suggest ways to intervene locally, and to act as role models. They assigned a project manager to coordinate this network of change agents, keeping in touch and checking in with them to facilitate knowledge sharing. Thanks to these influencers’ interventions—sharing information with the front line, taking time to talk to customers and feeding the information back to senior leaders, and calling out colleagues who did not adopt the desired attitudes—substantial behavioral changes began to take hold quickly.
Get ‘on the pulse’
Organizational health is organic, and, like the human body, it evolves over time. If health is to be nurtured and improved quickly, it needs to be monitored and measured regularly. The days of conducting a survey and then waiting 12 months to remeasure are gone. This “on the pulse” measuring strategy, which requires fast feedback loops, pinpoints where course corrections are needed. Simple technology tools that put out one question a day provide real-time measurement while reducing survey fatigue. Weekly health huddles with teams offer instant feedback. And integral performance and health reviews reveal how an organization’s health is evolving in reaction to the actions taken. Leaders, as architects of the effort to improve organizational health, can then make changes to ensure that the new mind-sets are taking hold. High-performing organizations require leaders who can manage performance and health in concert.
A high-performing European telecom company embarked on a digital transformation only to discover that its highly directive and execution-oriented management approach (a profile that had served it well for decades) was getting in the way of rapid renewal. It was at the bottom of the class in health, according to the OHI, with eight out of nine outcomes in the third or fourth quartile. Recognizing that the company had to be more agile if it was to respond to the industry shifts and technology disruptions, the company’s leaders focused initially on four practices aimed at increasing employee motivation and giving the company a new performance edge: rewards and recognition, consequence management, role clarity, and personal ownership.
After three months of using the survey technique of one question a day, the company found that it was making progress across all practices except rewards and recognition. Such a fast feedback loop enabled the team to intervene quickly, celebrate the successes, and revisit its approach to rewards and recognition. As a result, leaders combined their internal learnings with external best practices and redefined their interventions to improve the ways in which they rewarded and recognized high-performing teams and individuals.
A global electronics company took a different approach, introducing a simple survey of no more than ten pertinent questions to check whether critical new practices—such as giving and asking for feedback—were being embedded. The responses, which were shared with and discussed by all the teams, showed which teams were taking the effort seriously. The results of the survey reinforced the right behaviors until they became routine.
Companies often tell us that, while organizational health sounds like a great idea, it doesn’t feel like a necessity to achieving their short-term goals. They also worry that it’s going to be too much work. Both reactions are misguided. Far from being a distraction, a focused health-improvement plan should actually help companies achieve their short-term goals. And it will not be an added burden—in most cases, working healthy is doing what you’re already doing but doing it differently. It’s about redefining how to connect, engage, and communicate with employees. It’s about sharing a company’s vision and mission in a way that inspires employees to act in its best interests. Above all, it’s about adopting a more innovative and effective style of leading, executing, and innovating. Working on health works, and it works quickly.
By Chris Gagnon, Elizabeth John, and Rob Theunissen September 2017

ET LIFETIME ACHIEVEMENT AWARD,,, YC DEVESHWAR The Man Who Built a Business Empire with Life and Passion

The Man Who Built a Business Empire with Life and Passion

...and the award goes to YC DEVESHWAR Chairman, ITC
Between 1996, the year when Yogesh Chander Deveshwar became chairman of ITC, and March 2017, ITC's an nual sales have expanded over 11-fold to Rs 55,002 crore (revenue Rs 38,979 crore), while shareholder returns grew at a compound annual rate of 23.6%.

Along the way , Deveshwar was instrumental in transforming the Kolkata-based company from being mostly a cigarette maker to a conglomerate with interests in sectors such as fast-moving consumer goods, hotels, paper and packaging, and agri-business. It posted a net profit of Rs 10,200 crore in the year ended March 31, 2017.

There was intense discussion on the award. But the jury eventually plumped for Deveshwar.

“My grateful thanks to the members of the jury and Economic Times for this prestigious recognition,“ Deveshwar told ET. “I accept this award with humility , not only as a recognition of the journey I have traversed in ITC, but also as a tribute to many who have enriched this fulfilling journey over the decades. ITC has been my life and passion for close to five decades.“

“As I look back, I draw satisfaction that the abiding vision to serve national priorities is today manifest in the creation of an exemplary Indian enterprise that truly lives by its credo of putting country before corporation,“ Deveshwar added in his comments to ET.

Deveshwar was among the first CEOs to tap India's vast countryside, by way of his unique e-Choupal concept -linking directly with farmers via the Internet for procurement of products -and by entering the FMCG space in rural areas. The going has been tough and the results mixed, although the company takes a long-term view on this. In fact, dealing with tough situations has been part of Deveshwar's mental makeup, such as when he took a break from ITC to run Air India in 1991-94 and then on his return to ITC. Those were turbulent times at the company with the largest shareholder, British American Tobacco, at loggerheads with the management.

Deveshwar was able to pull things around. Having been something of a wunderkind -he was spotted early by legendary chairman AN Haksar and became a board member at 37 -he also gained valuable experience of how the government works during his stint at Air India. Now aged 70, and chairman of ITC for 21 years, Deveshwar retired from the executive role of CEO this year in February .

Led by Deveshwar, ITC has received significant global and national recognition for its pioneering work in creating sustainable communities as part of efforts to transform rural India. Some of its achievements have been featured as case studies at Harvard Business School. Harvard had ranked Deveshwar the seventh best-performing CEO in the world in 2012. In 2011, he was conferred the Padma Bhushan.
Sep 05 2017 : The Economic Times (Mumbai)

Wednesday, September 20, 2017

PERSONAL GOAL SPECIAL ....The Stupidly Simple Way To Avoid Bombing On Your Biggest Goals

PERSONAL GOAL SPECIAL The Stupidly Simple Way To Avoid Bombing On Your Biggest Goals

You have more leeway to adjust the timeline or scope of your goals than you probably think–and still ultimately get them done.

When I was a freshman in college, I wanted to try out for the football team. Given my 5 ‘7″ soft frame, this makes complete sense. You can’t keep a tiger out of the jungle. I decided to become a field-goal kicker. I bought a stand and a football at a sporting goods store. Late at night, I’d sneak into the stadium in Birmingham, Alabama, and practice my kicks. Had I ever kicked a field goal? No. So then why did I think I could walk on as a field-goal kicker for a Division-I college team that occasionally played schools like Auburn? Because I am crazy.
You’re not as foolhardy as me, but you probably tend to overreach a bit with your goals, too, especially at the beginning. That can cause all manner of mayhem and lead to disappointments–or worse. So the next time you set your eye on a big goal, try this before you take your first step toward it: Cut the goal in half.
No, I’m not telling you to do less–I’m actually helping you do more. Here’s how it works.

At the beginning, when our excitement is through the roof, we think our achievement must be as well. This is why people who have never run 100 yards will tell me they are going to run a marathon. This is understandable. After all, our brains are hardwired to be overconfident about our abilities and chances for success.
And to counter that, all it takes is a little thought experiment right from the get-go: Let’s say for example that you have to pay down $50,000 in credit card debt, but the thought of cutting that number in half and only paying $25,000 still makes you want to throw up a little. Defaulting on the remaining half (or all) of your debt isn’t a great option, but it’s one potential outcome. So if that ultimate $50,000 target has got to stay fixed, what’s one variable you can change? Give yourself more time.
If you doubled the amount of time you gave yourself to pay off the debt, what’s the worst thing that would happen? You’d pay a little (or perhaps significantly) more in interest, but you’d still pay off the whole debt. And chances are this would still be way better than just making minimum payments, which is exactly what your credit card company wants you to do. Remember, we’re up against quitting completely, which in this example might even mean declaring bankruptcy.
The options we’re talking about right now aren’t: 1. Finish perfectly, or 2. Cut the goal in half.
The options are: 1. Quit the goal because it was too big, or 2. Cut it in half and finish it.
And if that means extending your timeline, then you should.

In all likelihood, these two approaches, cutting the goal in half or doubling the timeline, can be applied to more goals than you suspect.
Of course, it’s unrealistic to think that you have the power to just cut all your goals in half. If your goal is to take medicine or something life-saving, by all means do not cut that in half. But even for some of the work-related goals you don’t have control over (because your boss sets them for you, for example), you may still have some leeway to reduce the stakes, scope, or timeline so you can perform better over the long run. The key is just making sure they’re the right size from the beginning. To do that, ask yourself this simple question: “What’s the worst that could happen?”

Let’s pretend for a minute that you cut your goal in half and instead of cleaning your entire house, you cleaned just two rooms. For years, you’ve hated how cluttered your house is, and the idea of doing only two rooms doesn’t seem like enough, so you’ve put it off completely. But by giving yourself permission to just accomplish half your goal, you’ll be able to see that you can actually clean those two rooms quickly. If a perfectionist (an “all or none at all”) mind-set prevented you from getting started on the original goal, that same type of thinking can motivate you to knock out a goal you’ve cut down by 50% (“I can definitely clean those two rooms perfectly right away.”).
Alternatively, what if you doubled the timeline instead of cutting the goal in half? If you’ve had a messy house for five whole years, why is giving yourself an extra month to clean it so terrifying? You’ve waited 60 months to do anything, and now it has to be done this month?
Perfectionism will tell you it’s now or never–that if you don’t finish it now, you never will. But by asking what’s the worst that would happen if you cut your goal in half or gave yourself more time, you’d improve your odds of success dramatically. And the world wouldn’t fall apart if you did less or it took longer.
Take a look at your long-term work projects; chances are there are plenty of opportunities to do something similar, and still achieve great results without incurring your boss’s ire. Sure, this idea may go against conventional goal-setting wisdom, but it might help you do the one thing that matters, no matter what your goal actually consists of: Finish it.