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PRESENTED BY:- SUMIT GHOSH M.B.A-M.K.U (SEC C) RAMAIAH INSTITUTE OF MANAGMENT STUDIES
IMPORTANCE OF VALUES IN GLOBAL RECESSION
VALUES:- VALUES MEANS THE INNER SPECTRUM OF MAN'S LIFE THAT AFFECTS THE OTHER PERSONS,ORGANISATIONS AND GENERATIONS. Values are a general term referring to those things which people regard as good,bad,right,wrong,desirable,justifyable.
TYPES OF VALUES
Business is driven by values. Values Determine: >What Business people do?< >How Others react?< Types of Values: Values are of many types.It includes: <Cultural norms (represent the expectations of business clients and customers,employees,suppliers+ those that set the standards of technical skills in business) <Moral values: These are deeply seated ideas and feelings that manifest themselves as behaviour or conduct.These values are not so easy to express in words <More general and controlling values(capable of judging the acceptability of the prudential and technical value) <Ethical implications:It iis often held- and rightly so- to be moral and legal duty to exercise due care and skill.
VALUE SYSTEM IS DRIVEN BY:
Mangerial values:-The values the management of an organization should have. Norms:-Expectations of proper behaviour Beliefs:-The belief is an ethical code are standard of thought. Moral Standards,beliefs and their role(morality)
RECESSION :- RECESSION HAVING MANY DEFINITIONS DIFFERENTLY FOR DIFFERENT PEOPLE. A STORM FOR WORLD'S STRONGEST AND EXISTING ECONOMIES.
:SLOWING DOWN OF ECONOMY :JOB LOSSES :FOR A POOR MAN FIGHT FOR SURVIVAL :FALL DOWN IN GROSS DOMESTIC PRODUCTIVITY :GREAT FINANCIAL PROBLEMS.
HOW YOU CAN BEAT RECESSION
ANYBODY CAN BEAT RECESSION BY HIS VALUES AND VALUE SYSTEMS RECESSION IS NOT GONA TO STOP YOU FROM ACHEIVING SUCCESS ITS DEPENDS ON YOU HOW YOU ARE TAKING IT IF U BELIVE IN NOT GIVING UP AND TAKING THE GREAT CHALLENGE ITS THE WAY U R GOING TO MAKE THE DIFFERENCE IF YOU ARE ACCEPTING THE DEFEAT THEN YOU ARE BEATEN BY RECESSION.
THE MAN WHO'S VALUES SYSTEM IS GIVING DEFEAT TO RECESSION.
HE achieved what almost everybody would consider impossible. In a life spanning 69 years, he built from scratch India’s largest privately controlled corporate empire. Dhirajlal Hirachand – better known as Dhirubhai – Ambani would often say that success was his biggest enemy. He was a man who aroused extreme responses in others. Either you loved him or you hated him. There was just no way you could have been indifferent to this amazing entrepreneur who thought big, acted tough, knew how to bend rules or have rules bent for him. He was a visionary as well as a manipulator, a man who communicated with the rich and the poor with equal felicity, who was generous beyond the call of duty with those whom he liked and utterly ruthless with his rivals – a man of many parts, of irreconcilable contrasts and paradoxes galore.
HE achieved what almost e verybody would consider impossible. In a life spanning 69 years, he built from scratch India’s largest privately controlled corporate empire. Dhirajlal Hirachand – better known as Dhirubhai – Ambani would often say that success was his biggest enemy.Either you loved him or you hated him. There was just no way you could have been indiff erent to this amazing entr epreneur who thought big, acted tough, k new how to bend rules or have rules bent for him. He was a visionary as well as a manipulator, a man who communicated with the rich and the poor with equal felicity, who was generous beyond the call of duty with those whom he liked and utterly ruthless with his rivals – a man of many parts, of irrec oncilable contrasts and paradoxes gal re. o
Some examples of great value systems
Gurukant Desai VS Dhirajlal Hirachand Ambani
1.Guru born in Idhar of Gujrat. His Dad was a school teacher (a head master as shown in the movie). 2.Guru Going to Turkey when he was a kid somewhere around 16 years.
1.Dhirubhai born in Chorwad, Junagadh in the state of Gujarat. Dad was a school teacher. 2.Dhirubhai moved to Yemen when he was 16.
3.Guru was shown as smart guy playing with coins and making money in ball tricks (In short he was shown as a person who knew the trick of minting money). Guru worked as a clerk and then later worked with Shell. He also got a promotion. 4.Ten years later, Guru returned to India and started a business Shakti Corporation (I do not remember the exact name, may be it was Shakti Trading) with a capital of Rs. 15000.00. 5.The business was setup in partnership with his brother-in-law.
3.Dhirubhai would buy the Rials, melt them in pure silver and sell it to the bullion traders in London. Dhirubhai worked as dispatch clerk and then later worked in Shell. Dhirubhai was promoted to manage the companyâ€™s oil-filling station at the port of Aden 4.Ten years later, Dhirubhai returned to India and started a business Reliance Commercial Corporation with a capital of Rs. 15000.00. 5.The business was setup in partnership with Champaklal Damani, his second cousin who was also there with him in Aden, Yemen. 6.The primary business of Reliance Commercial Corporation was to import polyester yarn and export spices.
6.The primary business of GuruKant was to import “Kela Silk (polyester)” and export spices.
7.Brother-in-law ended his partnership with Guru. 8.He was called Guru Bhai. He was then later better known as Guru Bhai. “Guru bhai ka Salaam”. 9.The Shakti Trading was a 350 Sq. Ft. room with a telephone, one table and three chairs. 10.Public offers for Shakti corporation targeting the rural India. Many became the partners to Shakti corporation. This was also one of the initial IPOs as he explained them the concept in details.
7.In 1965 Champaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own 8.He was called DhiruBhai and was better known by this name. 9.The first office of Reliance Commercial Corporation was a 350 Sq. Ft. room with a telephone, one table and three chairs. 10.Dhirubhai Ambani is credited with starting the equity cult in India. More than 58,000 investors from various parts (mainly rural) of India subscribed to Reliance’s IPO in 1977.
11.Shakti corporation conducted its Annual General Meetings (AGMs) in stadiums. This is one of the highlights of the movie. Over 35,000 partners attended the meeting. Even the movie starts with the a ground and the AGM description.
11.Reliance Industries holds the distinction that it is the only Public Limited Company whose several Annual General Meetings were held in stadiums. In 1986, The Annual General Meeting of Reliance Industries was held in Cross Maidan, Mumbai, was attended by more than 35,000 shareholders and the Reliance family. 12.Dhirubhai had to cut through lots of red tape and face rivalry from another big businessman, Nusli Wadia - chairman and majority owner of Bombay Dyeing. 13.At one point in time Ramnath Goenka of Indian Express was a friend of Dhirubhai Ambani. Later on Ramnath Goenka choose to support Nusli Wadia. At one occasion Ramnath Goenka is believed to have said “Nusli is an Englishman. He cannot handle Ambani. I am a bania. I know how to finish him”
12.The conflicts/discussions with another business baron (Forgot his name). If I am not wrong some English person.
13.Manik Dasgupta (Mithun da) or Nanaji, a friend/Mentor of Guru and then later turning against Guru because of his business approach. Mithun is the owner of a big newspaper (If I am not wrong the name of the newspaper was “The Independence”).
14.Mithun asked Shyam(Madhavan) to write against Guru and going after him. Along with MAnik, he has to face his editor Shyam opposing all his moves while his company keeps growing.
14.Ramnath Goenka did not use his staff at the Indian Express to investigate the case but assigned his close confident, advisor and chartered accountant S. Gurumurthy for this task.
15.The scene where Gurukant Desai speaks to a political bigwig in New Delhi. Politician was not giving him any time and finally gave one opportunity. In the meeting Guru offered a biggy to the politician.
15.Meeting between the late Rajiv Gandhi and Dhirubhai Ambani. Rajiv Gandhi wouldnâ€™t give any time for a meeting to Dhirubhai Ambani and when he finally gave time, Dhirubhai Ambani made him an offer he couldnâ€™t refuse.
There are more points like corruption cases against Guru, Guru getting paralyzed, Guru with two daughters, the biggest company in India e.t.c. In 1982, Dhirubhai created waves in the stock markets when he took on a Kolkata-based cartel of bear operators that had sought to hammer down the share price of Reliance Industries. The cartel badly underestimated the Ambani ability to fight back. Not only did Dhirubhai manage to ensure the purchase of close to a million shares that the bear cartel offloaded, he demand physical delivery of shares. The bear cartel was rattled. In the process, the bourses were thrown into a state of turmoil and the Bombay Stock Exchange had to shut down for a couple of days before the crisis was resolved.
What do you call a man who hates to lose? A winner? That is too easy, too glib, and buries the story. All Dhirajlal Hirachand Ambani ever wanted to be is the biggest there ever is, the best there ever was. He wanted a piece of the action — preferably all of it. If others wouldn’t let him in, he would create his own turf and own it all.
A G Krishnamurthy, founder of Mudra Communications, writes in his book, Dhirubhaism, about some of the Reliance founder's doctrines:
9 great management lessons from Dhirubhai Ambani
Dhirubhaism No 1: Roll up your sleeves and help.
You and your team share the same DNA.
Reliance, during Vimal's heady days had organized a fashion show at the Convention Hall, at Ashoka Hotel in New Delhi.As usual, every seat in the hall was taken, and there were an equal number of impatient guests outside, waiting to be seated. I was of course completely besieged, trying to handle the ensuing confusion, chaos and protests, when to my amazement and relief, I saw Dhirubhai at the door trying to pacify the guests.
Dhirubhaism No 2: Be a safety net for your team.
There used to be a time when our agency Mudra was the target of some extremely vicious propaganda by our peers, when on an almost daily basis my business ethics were put on trial. I, on my part, putting on a brave front, never raised this subject during any of my meetings with Dhirubhai. But one day, during a particularly nasty spell, he gently asked me if I needed any help in combating it. That did it. That was all the help that I needed. Overwhelmed by his concern and compassion, I told him I could cope, but the knowledge that he knew and cared for what I was going through, and that he was there for me if I ever needed him, worked wonders for my confidence.I went back a much taller man fully armed to face whatever came my way. By letting us know that he was always aware of the trials we underwent and that he was by our side through it all, he gave us the courage we never knew we had.
Dhirubhaism No 3: The silent benefactor.
This was another of his remarkable traits. When he helped someone, he never ever breathed a word about it to anyone else. There have been none among us who haven't known his kindness, yet he never went around broadcasting it. He never used charity as a platform to gain publicity. Sometimes, he would even go to the extent of not letting the recipient know who the donor was. Such was the extent of his generosity. "Expect the unexpected" just might have been coined for him.
Dhirubhaism No 4: Dream big, but dream with your eyes open.
His phenomenal achievement showed India that limitations were only in the mind. And that nothing was truly unattainable for those who dreamed big. But though he dreamed big, he was able to clearly distinguish between perception and reality and his favourite phrase "dream with your eyes open" underlined this.
5. Dhirubhaism: Leave the professional alone!
Much as people would like to believe, most owners (even managers and clients), though eager to hire the best professionals in the field, do so and then use them as extensions of their own personality. Every time I come across this, which is much too often, I am reminded of how Dhirubhai's management techniques used to be (and still remain) so refreshingly different. For instance, way back in the late 1970s when we decided to open an agency of our own, he asked me to name it. I carried a short list of three names, two Westernised and one Indian. It was a very different world back then. Everything Anglicised was considered "upmarket."There were hardly any agencies with Indian names barring my own ex-agency Shilpi and a few others like Ulka and Sistas. He looked at the list and asked me what my choice was. I said "Mudra": it was the only name that suited my personality. And the spirit of the agency that I was to head.
6. Dhirubhaism: Change your orbit, constantly!
To understand this statement, let me explain Dhirubhai's "orbit theory."He would often explain that we are all born into an orbit. It is up to us to progress to the next. We could choose to live and die in the orbit that we are born in. But that would be a criminal waste of potential. When we push ourselves into the next orbit, we benefit not only ourselves but everyone connected with us.Take India's push for development. There was once a time our country's growth rate was just 4 per cent, sarcastically referred to as the "Hindu growth rate." Look at us today, galloping along at a healthy 7-8 per cent.This is no miracle. It is the product of a handful of determined orbit changers like Dhirubhai, all of whose efforts have benefited a larger sphere in their respective fields.
The good news is that your enemies from your previous orbit will never be able to reach you in your new one. By the time resentment builds up in your new orbit, you should move to the next level. And so on.Changing orbits is the key to our progress as a nation.
7. The arm-around-the-shoulder leader
I have never seen any other empire builder nor the CEO of any big organisation do this (why, I never adopted this myself!).It was Dhirubhai's very own signature style. Whenever I went to meet him and if on that day, all the time that he could spare me was a short walk up to his car, he would instantly put his arm around me and proceed to discuss the issues at hand as we walked.
9. Money is not a product by itself, it is a by-product, so don't chase it
This was a belief by which Dhirubhai lived all his life. For instance when he briefed me about setting up Mudra, his instruction was clear: 'Produce the best textile advertising in the country,' he said.He did not breathe a word about profits, nor about becoming the richest ad agency in the country. Great advertising was the goal that he set for me. A by-product is something that you don't set out to produce. It is the spin off when you create something larger.When you turn logs into lumber, sawdust is your by-product and a pretty lucrative one it can be too! It is a very simple analogy but extremely effective in driving the point home. Work toward a goal beyond your bank balance.Success in attaining that goal will eventually ring in the cash. For instance, if you work towards creating a name for yourself and earning a good reputation, then money is a logical outcome.
You do not require an invitation to make profits'
Give the youth a proper environment. Motivate them. Extend them the support they need. Each one of them has infinite source of energy. They will deliver. • * You do not require an invitation to make profits. • * If you work with determination and with perfection, success will follow. • * Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth. • * We bet on people.
Meeting the deadlines is not good enough, beating the deadlines is my expectation.
* Don't give up, courage is my conviction.
* We cannot change our rulers, but we can change the way they rule us.
An Eagle’s Egg
An eagle’s egg was placed in nest of a chicken. The egg hatched and the eagle grew thinking himself as a chicken. The eagle did what the chicken did. It scratch the dirt for seeds. It did not flew more than a few feet because this is what chickens did.One day he saw a eagle flying gracefully and majestically in open sky.He asked chicken “What is that beautiful bird”Chicken said “That is an eagle. He is an outstanding bird, but u can’t fly like him as You are just a chicken” So eagle never gave a second thought to it and lives and dies as a chicken, depriving himself of his heritage because of lack of vision.
HE WAS BORN TO WIN BUT CONDITIONED TO LOOSEEEEEE. This is true of most people. We don’t achieve excellence because we think we can’t achieve it. “LIFE`S A BATTLE DON`T ALWAYS GOTO THE STRONGER AND FASTEST MAN,BUT SOONER OR LATER MAN WHO WINSIS THE MAN WHO THINKS HE CAN”Vince Lombardi
Our life is simply a reflection of our actions. If you want more love in the world, create more love in your heart.A son and his father were walking on the mountains. Suddenly, his son falls, hurts himself and screams in pain: “AAAhhhhhhhhhhh!!!” To his surprise, he hears the voice repeating, somewhere in the mountain: “AAAhhhhhhhhhhh!!!”Curious, he yells: “Who are you?” He receives the answer: “Who are you?” And then he screams to the mountain: “I admire you!” The voice answers: “I admire you!”Angered at the response, he screams: “Coward!” He receives the answer: “Coward!” He looks to his father and asks: “What’s going on?” The father smiles and says: “My son, pay attention.” Again the man screams: “You are a champion!” The voice answers: “You are a champion!” The boy is surprised, but does not understand. Then the father explains: “People call this ECHO, but really this is LIFE. It gives you back everything you say or do. Our life is simply a reflection of our actions. If you want more love in the world, create more love in your heart. If you want more competence in your team, improve your competence. This relationship applies to everything, in all aspects of life; Life will give you back everything you have given to it.”
Secret of success
A young man asked Socrates the secret of Success. Socrates told the young man to meet him near the river the next morning. They met.Socrates asked the young man to walk with him towards the river. When the water got up to their neck, Socrates took the young man by surprise and ducked him into the water. The man struggled to get out but Socrates was strong and kept him there until he started turning blue.The young man struggled hard and finally managed to get out and the first thing he did was to gasp and take deep breath. Socrates asked ‘What you wanted the most when you were there? ’ The man replied ‘Air’.Socrates said “That’s the most secret to success. When you want success as badly as you wanted air, you will get it. There is no other secret. ”A burning desire is the starting point of all accomplishment. Just like a small fire cannot give much heat, a weak desire cannot produce great results.
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