A STORY YOU MUST TELL YOUR WEALTH MANAGER FINANCIAL ADVISOR and BANK RELATIONSHIP MANAGER

A STORY YOU MUST TELL YOUR WEALTH MANAGER and FINANCIAL ADVISOR
A Mulla Nasrudin Story
By 
VIKRAM KARVE

Whenever any Financial “Expert” wearing any garb (like Wealth Manager, Investment Adviser, Financial Adviser, Financial Planner, Bank Customer Relationship Manager or Insurance Agent) approaches you and tries to “advice” you regarding your investments, it may be good idea to first tell him or her this Mulla Nasrudin Story called FASHION SHOW: 

FASHION SHOW - A Mulla Nasrudin Story

One day Nasrudin went to a fashion show and his friends asked him how he liked it.

“They cheat you,” Nasrudin complained, “They show you the women – and then they try to sell you the clothes.”




That's what some financial experts, wealth managers, investment advisors and similar marketing guys do, isn't it? 
Especially when they try to sell you financial products. 


Have a Happy Monday

VIKRAM KARVE
Copyright © Vikram Karve 2012
Vikram Karve has asserted his right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this work.
© vikram karve., all rights reserved.

Did you like this blog post?
I am sure you will like the stories in my recently published book COCKTAIL comprising twenty seven short stories about relationships. To order the book please click the links below:
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COCKTAIL ebook
If you prefer reading ebooks on Kindle or your ebook reader, please order Cocktail E-book by clicking the link below:
AMAZON
http://www.amazon.com/dp/B005MGERZ6
SMASHWORDS
http://www.smashwords.com/books/view/87925

Foodie Adventures Book APPETITE FOR A STROLL

http://www.flipkart.com/appetite-stroll-8190690094/p/itmdyv7tdkhzn9vm?pid=9788190690096 

About Vikram Karve

A creative person with a zest for life, Vikram Karve is a retired Naval Officer turned full time writer. Educated at IIT Delhi, ITBHU Varanasi, The Lawrence School Lovedale and Bishops School Pune, Vikram has published two books: COCKTAIL a collection of fiction short stories about relationships (2011) and APPETITE FOR A STROLL a book of Foodie Adventures (2008) and he is currently working on his novel. An avid blogger, he has written a number of fiction short stories and creative non-fiction articles in magazines and journals for many years before the advent of blogging. Vikram has taught at a University as a Professor for almost 15 years and now teaches as a visiting faculty and devotes most of his time to creative writing. Vikram lives in Pune India with his family and muse - his pet dog Sherry with whom he takes long walks thinking creative thoughts. 

Vikram Karve Academic and Creative Writing Journal: http://karvediat.blogspot.com
Professional Profile Vikram Karve: http://www.linkedin.com/in/karve
Vikram Karve Facebook Page:  https://www.facebook.com/vikramkarve
Vikram Karve Creative Writing Blog: http://vikramkarve.sulekha.com/blog/posts.htm
Email: vikramkarve@sify.com        

© vikram karve., all rights reserved.

    

THE DANGERS OF CRONYISM

THE DANGERS OF CRONYISM

By

VIKRAM KARVE

Nowadays, when things go wrong, we hear so many persons in high positions blame their advisers and subordinates and give the excuse that they were given the wrong advice and that they trusted their advisers and staff and merely followed their advice. This underlines the dangers of cronyism. Yes-men, sycophants and cronies may lead you up the garden path and then leave you high and dry leaving you to fend for yourself when you are in trouble. You must choose your advisers and friends carefully.

In his marvellous autobiography A Soldier's Story General Omar Nelson Bradley vividly describes how he learnt the rudiments of effective leadership from General Marshall which he himself applied throughout the war: “When an officer performed as I expected him to, I gave him a free hand. When he hesitated, I tried to help him. And when he failed, I relieved him”.

Rather than encourage yes-men and cronies who indulge in ego-massage and sycophancy, General Marshal sought contrary opinions: “When you carry a paper in here, I want you to give me every reason you can think of why I should not approve it. If, in spite of your objections, my decision is to still go ahead, then I’ll know I’m right”.

I feel that, in both your professional and personal lives, it is better to seek the opinion of devil’s advocates than surround yourself with yes-men masquerading as advisers. Cronies and Yes-men will indulge in sycophancy and tell you what you want to hear whereas good colleagues and true well-wishers will give you proper advice on what is really good for you.  

So, Dear Reader, remember to steer clear of cronies and learn to recognise your true friends.

VIKRAM KARVE 

Copyright © Vikram Karve 2012
Vikram Karve has asserted his right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this work.
© vikram karve., all rights reserved.

Did you like this article?
I am sure you will like the 27 fiction short stories from my recently published anthology of Short Fiction COCKTAIL 
To order your COCKTAIL please click any of the links below:
http://www.flipkart.com/cocktail-vikram-karve-short-stories-book-8191091844?affid=nme
http://www.indiaplaza.in/cocktail-vikram-karve/books/9788191091847.htm
http://www.apkpublishers.com/books/short-stories/cocktail-by-vikram-karve.html

COCKTAIL ebook
If you prefer reading ebooks on Kindle or your ebook reader, please order Cocktail E-book by clicking the links below:
AMAZON
http://www.amazon.com/dp/B005MGERZ6
SMASHWORDS
http://www.smashwords.com/books/view/87925

Foodie Book:  Appetite for a Stroll
If your are a Foodie you will like my book of Food Adventures APPETITE FOR A STROLL. Do order a copy from FLIPKART:
http://www.flipkart.com/appetite-stroll-vikram-karve/8190690094-gw23f9mr2o

About Vikram Karve

A creative person with a zest for life, Vikram Karve is a retired Naval Officer turned full time writer. Educated at IIT Delhi, ITBHU Varanasi, The Lawrence School Lovedale and Bishops School Pune, Vikram has published two books: COCKTAIL a collection of fiction short stories about relationships (2011) and APPETITE FOR A STROLL a book of Foodie Adventures (2008) and is currently working on his novel and a book of vignettes and short fiction. An avid blogger, he has written a number of fiction short stories, creative non-fiction articles on a variety of topics including food, travel, philosophy, academics, technology, management, health, pet parenting, teaching stories and self help in magazines and published a large number of professional research papers in journals and edited in-house journals for many years, before the advent of blogging. Vikram has taught at a University as a Professor for almost 15 years and now teaches as a visiting faculty and devotes most of his time to creative writing. Vikram lives in Pune India with his family and muse - his pet dog Sherry with whom he takes long walks thinking creative thoughts.

Vikram Karve Academic and Creative Writing Journal: http://karvediat.blogspot.com
Professional Profile Vikram Karve: http://www.linkedin.com/in/karve
Vikram Karve Facebook Page:  https://www.facebook.com/vikramkarve
Vikram Karve Creative Writing Blog: http://vikramkarve.sulekha.com/blog/posts.htm
Email: vikramkarve@sify.com
vikramkarve@gmail.com

© vikram karve., all rights reserved.

Business Ethics Lecture Series - Part 17 - Musings on Management Consultancy

COUNSELLORS AND CONSULTANTS

Musings on Management Consultancy

By

VIKRAM KARVE

I just don't understand why we take "outside" help to solve "internal" problems, particularly when the solution to the problem lies within. This is true in personal life (when one goes to counsellors) and in organizations (when one hires consultants).

This famous Mulla Nasrudin Story exemplifies this irony:

A man is walking home late one night when he sees an anxious Mulla Nasrudin down on all fours, crawling on his hands and knees on the road, searching frantically under a street light for something on the ground.

“Mulla, what have you lost ?” the passer-by asks.

“I am searching for the key to my house,” Nasrudin says worriedly.

"I'll help you search for your key," the man says and joins Mulla Nasrudin in the search.

Soon both men are down on their knees under the streetlight, looking for the lost key.

After some time, the man asks Nasrudin, “Tell me Mulla, do you remember where exactly did you drop the key ?”

Nasrudin waves his arm back toward the darkness and says, “Over there, in my house. I lost the key inside my house…”

Shocked and exasperated, the passer-by jumps up and shouts at Mulla Nasrudin, “Then why are you searching for the key out here in the street ?”

“Because there is more light here than inside my house,” Mulla Nasrudin answers nonchalantly.

Close your eyes and think of this story, reflect, ruminate, carry the story in your mind, identify yourself in the story, create a silence within you and let the story reveal to you its inner depth and meaning.

Which “key” are you looking for?

The key to happiness, the key to health, the key to bliss, the key to freedom, the key to inner peace and tranquillity, the key to love, the key to God? Which elusive key are you searching for?

Why are you looking for the key outside when you have lost the key deep inside within you?

Is it because there is more “light” outside than within?

How can you find the key outside when you have lost it inside you?

You have lost your key deep inside within, so you have to search inwards deep within you.

Similarly if a married couple have lost the "key" to their relationship within the marriage, how do they expect an outside person like a counsellor to find their lost key - isn't it better for the married couple to sit together, reflect, look inwards and try and find their lost "Key"?

It is the same with organisations, isn't it? I wonder why we hire outside consultants to find the "key" which is within us?  

If an organization has lost a "key" within, is it not prudent for the management to introspect and search for the solution within than to hire external consultants and expect them to find the "key" which is lost within?

Well, maybe this is a contrarian view, but maybe, it is food for thought.

VIKRAM KARVE
Copyright © Vikram Karve 2010
Vikram Karve has asserted his right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this work.
© vikram karve., all rights reserved.  

VIKRAM KARVE educated at IIT Delhi, ITBHU, The Lawrence School Lovedale, and Bishop's School Pune, is an Electronics and Communications Engineer by profession, a Human Resource Manager and Trainer by occupation, a Teacher by vocation, a Creative Writer by inclination and a Foodie by passion. An avid blogger, he has written a number of fiction short stories and creative non-fiction articles in magazines and journals for many years before the advent of blogging. His delicious foodie blogs have been compiled in a book "Appetite for a Stroll". Vikram lives in Pune with his family and pet Doberman girl Sherry, with whom he takes long walks thinking creative thoughts.

Vikram Karve Creative Writing Blog - http://vikramkarve.sulekha.com
Academic Journal Vikram Karve – http://karvediat.blogspot.com
Professional Profile of Vikram Karve - http://www.linkedin.com/in/karve
Email: vikramkarve@sify.com
Foodie Book: Appetite for a Stroll 
http://books.sulekha.com/book/appetite-for-a-stroll/default.htm

http://www.flipkart.com/appetite-stroll-vikram-karve/8190690094-gw23f9mr2o

http://shopping.sify.com/appetiteforastroll-vikram-karve/books/9788190690096.htm

© vikram karve., all rights reserved.

SOFT SKILLS and TECHNOLOGY MANAGEMENT

TECHNOLOGY AND HUMAN RESOURCE MANAGEMENT

Soft Skills Approach

By

VIKRAM KARVE


The critical issues of technological change involve people, before profits.

To anticipate signs of change when planning and implementing new technology, and assessing the impact of new technology on human resources, managers must ask questions such as the following:

What individual and organizational values are shifting?

How will working conditions change?

How will the change affect organizational and/or individual responsibility?
Who must be re-skilled?

Seeking answers to these questions will enable managers to shift their focus from profit maximization to a concern about the integrated organization.


TECHNOLOGY FOSTERS INDIVIDUAL AND ORGANIZATIONAL VALUES

Traditionally, people chose to use new technology to perform dangerous, difficult or dirty tasks [3D’s], to meet a perceived need or because of a preference for a specific value.

Today, technology fosters value.

An unintended result is that technology becomes the prime driver and growth engine of organization and the human resource assumes a secondary role.

In a nutshell: employees facilitate the objectives of technology.

Therefore, managers within technology-driven organizations must consider three questions:

What individual and organizational values are shifting?

Will the adoption of new technology devalue individuals?

How can the new technology assist in the attainment of individual and organizational objectives simultaneously?


HOW TECHNOLOGY CHANGES WORKING CONDITIONS?

Managers often exploit employees to work long hours under technology driven working conditions and endure undue stress.

When profits are pre-eminent, managers use technology to control and monitor employers with the aim of maximizing output.

Employees tolerate managerial manipulation because they want rewards and job security.

With fear and insecurity as the prime motivators, employees tolerate stress, invasion of privacy, and expanded job descriptions in exchange for job security.

Before implementing technological change, managers must seek the balance between control and dignity.

Technology must be used to enrich rather than degrade employees and managers must seek to prevent new technology from demoralizing the workforce.


HOW WILL TECHNOLOGICAL CHANGE AFFECT ORGANIZATIONAL AND INDIVIDUAL RESPONSIBILITY?

Technology brings with it the penalty of dependence.

When employees rely solely or to a great extent on technology in their tasks, they can soon believe themselves incapable of responding without technology.

Therefore, if technology can replace individuals, technology can displace responsibility.

In the technology-driven organizations, employees run computers and operate machinery. With the computer as the brain and the machinery as the backbone of the organization, employees no longer assume responsibility for production.

Because work is an extension of self, employees who do not feel good about their work do not feel good about themselves.

To deal with their depression and dissatisfaction, people look for solutions in self-defeating avenues and sources.

Never finding the answer and mitigation for their disenchantment, they return to work and find their feelings of worthlessness reinforced.

In order to help individuals cast off this vision of themselves as inadequate and accept responsibility, managers can collaborate with employees to define and align goals with appropriate standards for mutual benefit.

Managers can sustain and empower employees by sharing power and by holding employees responsible for output and for their security.

In this way, technology is the tool, and the organization is the environment in which employees seek satisfaction.

As a result, the organization prospers.


WHO MUST BE RE-SKILLED?

If managers perceive technology as enhancing only the organization, the degree of change within tasks determines the extensiveness of re-skilling training.

However, if their goal includes renewal of the human resource, training involves attitudinal, relational, and intra-organizational adjustment.

A comprehensive approach to training for technological change requires that managers perceive change as a process consisting of interdependent factors rather than merely training workers how to use new technology without considering behavioural, social, and contextual factors [Soft-Skills].

In addition to enhancing skills, managers must permit workers to express how they feel about their tasks as well as their changing roles and relationships with other employees.

By doing so, managers learn how to interact with employees in the technologically changed environment to create a synergy of experience, power, and knowledge.

Some employees, however, know ho to play the organization, to impede interaction and, ultimately, curtail growth.

Responsible managers, committed to the integrity of the organization and its employees, must identify these manipulative employees, confront and challenge them to change, and, if necessary, remove them.

Training for technological change requires courage as well as re-skilling.

Technological change involves people, not profits; therefore, the key to preparing for change is to understand how people react to technology.

Managers must ask how values and responsibilities shift within their own organizations.

They cannot mimic the strategies of other firms or rely on the tactics of consultants.


VIKRAM KARVE

Copyright © Vikram Karve 2009
Vikram Karve has asserted his right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this work.

http://karvediat.blogspot.com

http://www.linkedin.com/in/karve

http://vikramkarve.sulekha.com

vikramkarve@sify.com