Warren Buffet's Comment on Ethical Values & Organizational Reputation

Copying this from a Yahoo Report on Warren Buffet (Link) as i feel this story and following comments needs to be remembered by all working men and women, particularly in light of what is happening today in the financial world with Wall Street under the scanner for starting the financial crisis in 2008:

In 1987, Berkshire bought $700 million of convertible preferred stock in Salomon Inc. Four years later, Buffett became interim chairman to restore order after a Treasury auction bidding scandal. On Sept. 4, 1991, Buffett testified before a subcommittee of the House Committee on Energy and Commerce about Salomon. Excerpts got into a movie created by Buffett's daughter Susie and shown to Berkshire shareholders at each annual meeting.

In part, Buffett said the following:

"In the end, the spirit about compliance is as important, or more so, than words about compliance. I want the right words and I want the full range of internal controls. But I also have asked every Salomon employee to be his or her own compliance officer.

"After they first obey all rules, I then want employees to ask themselves whether they are willing to have any contemplated act appear the next day on the front page of their local paper, to be read by their spouses, children and friends, with the reporting done by an informed and critical reporter.

"If they follow this test, they need not fear my other message to them: Lose money for the firm and I will be understanding. Lose a shred of reputation for the firm and I will be ruthless."

Lets remember the great man's words for our own good...

XL Meri Jaan - Rock Version (Extremely rough cut version & possibly sounds bad!!)

Song: XL Meri Jaan (Rock Version)

Thought will put this up even though its nowhere near a finished product. Me and Saji just made in one go in 15 minutes with Saji on the Electric guitar, Beats on the Synth and Vocals by me.

Random stuff i know!!....but we had been thinking of creating this song in a studio in the manner that we created and played it in XLRI as part of Bodhi Tree. A lot of people have told us that we were stupid in not going ahead with that plan so thought at least will put this version up. I am aware that most probably we will never be able to recreate the magic of that song again but keeping it on my blog will probably keep reminding me that this is one more unfinished business...

Enjoy!

Leaf Insect?

Probably the strangest thing that i have every photographed. I found it in my XLRI hostel room some years back. Observed it very closely before it left my room. At first thought it was a leaf but when i went closer i was quite amazed to see it is an insect.

Oh...by the way, Those (leaves) are Wings!

Can you spot the eyes and the antenna?!

P.S - Did not find anything resembling the same on the net. Would appreciate it if someone has any clue on what they are called?

Time Magazine's Quote on Sachin Tendulkar

"When Sachin Tendulkar travelled to Pakistan to face one of the finest bowling attacks ever assembled in cricket, Michael Schumacher was yet to race a F1 car, Lance Armstrong had never been to the Tour de France, Diego Maradona was still the captain of a world champion Argentina team, Pete Sampras had never won a Grand Slam. When Tendulkar embarked on a glorious career taming Imran and company, Roger Federer was a name unheard of; Lionel Messi was in his nappies, Usain Bolt was an unknown kid in the Jamaican backwaters. The Berlin Wall was still intact, USSR was one big, big country, Dr Manmohan Singh was yet to "open" the Nehruvian economy. It seems while Time was having his toll on every individual on the face of this planet, he excused one man. Time stands frozen in front of Sachin Tendulkar. We have had champions, we have had legends, but we have never had another Sachin Tendulkar and we never will."

Thanks God - err - Sachin!! :)

Love, Pain, Nostalgia, Memories, Healing, Song

You came in to my life,
Like a breath of fresh air,
Changing every moment ,every day,
Into a memory,to last a lifetime.

You smiled with me, you cried with me,
Your were forever there when I needed that support,
It was a whole new world.
A world that was my favourite place.

But as time would have had it,
Destiny showed us different paths,
I chose to go on,
You stood behind at the place,
Where our paths moved away,
I never dared to look back,
Knew wasn’t strong enough,
Till the day you moved on to.

Today as we have taken our separate paths,
I look back,
With a smile on my lips and tears in my eyes,
At that very place.
I see you,I see me,
And I see memories and happy times,
That gave a lot,
However short they may be,
They will last a lifetime.

A lifetime where every prayer said,
Every smile shared,every nostalgic moment ,
Would never be complete without you...

The most important issue for Business Leaders in India today...Look at the 'Not-So-Shining' India

The core issue in any Developing or Undeveloped nation is sustainable and inclusive development. The same is the case with India today. With a population of 1.2 Billion individuals, and an economy which is growing at an annual rate of 8% and more, we have set the stage for a very prosperous India in the coming decades. However, something that has been missing has been the equality of this growth across all sections of the society. There are suddenly 2 very different Indias today; a prosperous one with 400 middle class people and a very poor one with 400 million who do not have the access to most goods and services. The latter is the India that needs to be targeted by the business leaders of the country today.

It is not as if this is something radical that is being proposed. Progressive leaders have looked at this population and made profitable models to target them. We have awe inspiring organizations like ITC which has started its ‘E-Choupal’ initiative for farmer’s supply chain management, Unilever which has a ‘Shakti Amma’ concept of selling products in rural areas and hospitals like Aravind Eye & Narayana Hrudayalaya which provide healthcare to all sections of the society at a fraction of the cost. These ventures have to be seen not as CSR projects but as viable business projects which bring value to both the organization and the people of India.

Concepts like the bottom of the pyramid have a place in economics. The target for all entities, be it the government or the industries, should be all levels of this pyramid. Obviously, there might be some inconsistency in the targeting but no one should be forgotten completely. Theories which were popular earlier like the trickledown effect which talked about the money flowing from the top to the bottom of the pyramid will have to be discarded or heavily modified. Else, the economic inequalities will keep becoming larger with rich becoming richer and poor becoming poorer.

Business leaders need to remember that we are a huge market that had largely been untapped till 1991 when the reforms process was initiated by the government under the World Bank guidance. The challenge is in getting the right product and at the right price to a person which makes a person’s life better in even a small way. Since such poor households are mostly in rural areas, it also helps in creating employment opportunities there and helps communities better their livelihoods, creating a cycle of positive change where rising incomes and livelihoods demand better products and hence better profits.

This is a huge opportunity for progressive business leaders and organizations today which if tapped into can lead to huge value creation for all stakeholders.