Monday, June 24, 2013

Inquilab Zindabad ? No ! _____ (fill in the blanks) Murdabad .

What is common between a park demolition and a raise in bus fares. Well, something profound , I believe. Because in the last one month, I dare suggest that these were the two most important events in the world (NSA be damned ; as if that was a surprise)


The park issue was the first and it happened in Istanbul, Turkey.  The government had planned to demolish the Taksim Gezi Park and use the space to reconstruct the historic Taksim military barracks. About 50 environmentalists occupied the Park in protest. The police , predictably evicted them. That snowballed into massive nationwide protests and a huge Occupy Taksim Square movement started.  The issue of demolition of the Park has now given way to a protest against all sorts of unrelated issues and drawing crowds numbering in the tens of thousands. It is now an anti government protest without a coherent theme or leaders. A big section of the population is just protesting without a clear understanding of what they are protesting against and what the solution is. This mind you, in a country where the President Erdogan has won repeated elections with a strong mandate.



In Brazil, the government decided to raise some bus , train and metro fares. A few protested, notably the  Movimento Passe Livre (Free Fare Movement). The police broke up the protests. Again this has snowballed into a nationwide protest movement, involving millions of people. The government quickly withdrew the bus fare hike, but the protests have snowballed into something bigger - a whole range of issues, including protests against the Football World Cup and the Olympics all scheduled to be held in Brazil in the near future.  If Brazilians are protesting against football, something serious is happening. Again this is in a country where Dilma Rousseff won a resounding mandate in the elections and is the chosen successor of the extremely popular Lula.

As of today, both these protests are going on. You can see parallels with the Occupy Wall Street movement in the US and a few other places. In all these protests, there is no coherent theme, there is no leadership organising the protests. But these protests have been massive, cover a whole range of grievances and are significantly aided by social media.  They largely cover the middle class, not the poor. They tend to die down because they are not coherent and not "organised". But they are symptoms of a deep underlying problem.

This is a profound sociological change and one that should be researched deeply.  I believe the underlying issue is economic. Despite a big economic improvement globally across the last two decades, there is deep resentment. Large swathes of the population do not believe that there is a bright economic future ahead of them. This, despite the fact that the future is significantly brighter than what our parents, grandparents and forefathers ever had. And that is the problem governments and societies cannot ignore. There is no easy solution, and aspects of the solution will be different for different societies. But the root of the solution is economic. We have to have economic growth.


PS - In the title of the post - Inquilab Zindabad means Long live the revolution, in Urdu, a favourite phrase of protests of the past in the Indian subcontinent. Murdabad means "Down with".

Business Jazz – 24th June 2013 – Liz Strauss: We Won't Let You Fail



TOPICS THIS WEEK: Surrounding yourself with people who won't let you fail


Liz Strauss is a remarkable lady. She has touched the lives of many and helped them to improve their businesses and their quality of life. She's maybe best known on this podcast as one of the people behind SOBCon, a series of deep-dive online business conferences.

Liz has been ill. Those four words barely capture the hardship she's endured over the last year. In addition to ravaging her body, her illness has left her unable to work in the face of mounting medical bills.

What happened next is quite remarkable. Listen to find out.

The video


Here is the video of the Google+ hangout recorded during the recording of this week's podcast episode:


Links to people and things we mention

Liz Strauss Fundraiser
Liz's website

New rallying point


You are a big part of the story of this podcast. We'd like you to be an even bigger part of it. To help with that, and to help us have discussions about being genuinely attractive in business, we've established a LinkedIn group. Please knock on the door and we'll let you in.

Country tally


We're hoping to get a listener in every country in the world. The amazing, super, fantastic, wonderful Phil Sorrell has produced an interactive map for us. If you have a Twitter account, you'll be able to add yourself to the map. Hurry – maybe you can be the first in your country.

You can find the map here: Business Jazz Global Listener Map.

Listening to the podcast


You can listen to this week's podcast using the player at the top of the post or download it directly here: Business Jazz – 24th June, 2013.

We're also in iTunes. We'd love it if you subscribed or left some feedback.


Business Jazz Players


This podcast is a collaboration of people dotted around the world. Most of us have never met each other. It's quite a story and it's still evolving. 
If you'd like to read what's happened so far, you'll find it here: Our Story.

Thursday, June 20, 2013

Business Jazz – 20th June 2013 – How Authentic is too Authentic?



TOPICS THIS WEEK: Being authentic as a marketing tool


Authenticity is a big buzzword in content marketing at the moment. The question is, how authentic should you be?

A second issue concerns how much you push your successes over your failures. Some of us are only really comfortable presenting a facade of wild success to the outside world. Yet in doing so we run the risk of not connecting properly with our audience. Nobody only experiences good things in their lives. Often revealing some setbacks or missteps make us seem more human and accessible. On the flipside, revealing business struggles can put off clients.

Plenty of connundrums there.

The video


Here is the video of the Google+ hangout recorded during the recording of this week's podcast episode:


Links to people and things we mention

We didn't mention anyone this week. But do go here: Liz Strauss Fundraiser

New rallying point


You are a big part of the story of this podcast. We'd like you to be an even bigger part of it. To help with that, and to help us have discussions about being genuinely attractive in business, we've established a LinkedIn group. Please knock on the door and we'll let you in.

Country tally


We're hoping to get a listener in every country in the world. The amazing, super, fantastic, wonderful Phil Sorrell has produced an interactive map for us. If you have a Twitter account, you'll be able to add yourself to the map. Hurry – maybe you can be the first in your country.

You can find the map here: Business Jazz Global Listener Map.

Listening to the podcast


You can listen to this week's podcast using the player at the top of the post or download it directly here: Business Jazz – 20th June, 2013.

We're also in iTunes. We'd love it if you subscribed or left some feedback.


Business Jazz Players


This podcast is a collaboration of people dotted around the world. Most of us have never met each other. It's quite a story and it's still evolving. 
If you'd like to read what's happened so far, you'll find it here: Our Story.

Tuesday, June 18, 2013

Caste and Ethnicity still matter for Business in India

Ample research has shown that informal connections between people have a substantial influence on economic life, in terms who deals with whom and how well they perform. We call this “social embeddedness”, meaning that we are all embedded to different degrees in various networks of people, which influences our behaviour and success. One dimension which in a business context has received a lot of research is whether people have a joint educational background, particularly whether they are alumni from the same academic institution.

Guoli Chen, Ravee Chittoor and Bala Vissa thought that this embeddedness research that is focused on educational background could perhaps be especially valid in a Western context (where most of the research has taken place) but that in a different context, such as India, different types of affiliations might also play an important role. Specifically, they wanted to focus on the role of caste (i.e. people being of the same or different castes) and language (in terms of people sharing the same regional dialect).

Research setting: Equity analysts in India
To examine these different dimensions of inter-personal networks, they focused on a particular set of people and relationships, namely equity analysts. Firms listed on the stock exchange will often be followed and evaluated by analysts, as employed by banks, who make buy and sell recommendations to the public regarding the company’s stock.

Perhaps the most important task of such an equity analyst is to forecast – as accurately as possible – the future earnings of the firm. However, to make an accurate forecast, an analyst often has to at least partly rely on information received directly from the company; not seldom in the form of personal conversations with the Chief Executive. And Guoli, Ravee and Bala suspected that when the analyst happened to share the same background with the company’s CEO it would be much easier for him or her to get access to the CEO and his company information; making his earnings forecasts more accurate.

Findings
They tested this suspicion on a sample of 141 Indian firms, followed by a total of 296 equity analysts, between 2001-2010. First of all, they found clear evidence that equity analysts that are alumni of the same academic institution as the company’s CEO were indeed able to make much more accurate forecasts. But, in addition, the same was true for analysts who shared the same background in terms of caste, and in terms of regional language.  In fact, the effects were roughly the same size, meaning that these old historical patterns (around caste and language) were just as important in India as the more contemporary ones (i.e. university affiliation).

They then examined the conditions under which these different types of informal ties mattered more or less or whether such ties were indeed always beneficial. They found that older CEOs – who could be expected to be influenced more heavily by traditional patterns – were more susceptible to issues of caste and language than younger CEOs. They were less influenced by joint academic affiliation. Hence, although these old historical patterns matter a lot in India; they matter less for younger people, who are relatively more susceptible to joint academic affiliation.

In addition, they found evidence that these informal relationships were particularly beneficial if it concerned a truly Indian firm (part of a traditional business group). In contrast, such informal ties hurted more than they helped, when the firm in question was an Indian subsidiary of a Western multinational corporation.

Overall, what Guoli, Ravee and Bala’s research shows is that, in a country like India, old historical social structures still matter a lot in the world of business, especially when it concerns firms that are part of a traditional business group. The effect of language (which is analogous to ethnicity) was particularly potent. These effects may begin to matter a bit less for younger people (i.e. since they were especially strong for older CEOs) but they still wield considerable influence on economic life.


Paper presented at the “Sumantra Ghoshal Conference for Managerially Relevant Research” at the London Business School.
Which old boy network matters? Basis of social affiliation and the accuracy of equity analysts’ earnings forecast of Indian firms. Guoli Chen (INSEAD), Ravee Chittoor (Indian School of Business), Bala Vissa (INSEAD)
This paper summary is published with permission from the authors.
 

Monday, June 17, 2013

The Business June 19th, 2013: The Birthday Bash Edition



Join us as we wish a Felix Dies Natalis to two of our regular businessmen, Sean Keane and Bucky Sinister!

Watch the aging process IN LIVE ACTION!  Marvel at how their youth slips away into the ether of time, JUST AS YOURS WILL!!  THRILL at the palpable mortality!
Plus guests!

It wouldn’t be a party without Kevin O’Shea.

Established in 1984 following the mergers of Steven and Cathy O’Shea, Kevin O’Shea has been one of San Francisco’s leading manufactures of mirth, laughter, hilarity and all around good times! Kevin has been commonly described as clever, absurd, awkward but in a funny way and too smart for his own good. He has been seen on the Independent Film Chanel and ComedyCentral.com. He is a favorite of comedy festivals such as: The SF Sketch Fest and the Bridgetown Comedy Festival. Go see him now as his 4th quarter productivity has never been higher!

New to our stage, but not to our hearts, Land Smith!

Land “The Wreckingball” Smith, the pitbull of comedy, is becoming a real force in comedy. He stands there and tells a one-liner, then waits too long to tell the next one. It’s not clear if there’s something wrong with him or what.  Land has been writing jokes for 10 years, but finally got around to telling them just now. He opened for W. Kamau Bell 2 months after his first open mic, and now performs all the time to always-receptive audiences across the Bay Area. He doesn’t do any jokes about his name being Land because that would be too obvious.

No gifts, your presence is present enough.

Do still bring $5.  It still costs $5.

We sell out!  Get there early for a seat!


BYOBurrito and party hats.

Business Jazz – 17th June 2013 – Does Backing a Failure Make You Appealing?



TOPICS THIS WEEK: When Big Corporates Chicken Out While Small People Dream Big and Achieve Greatness, Four Birds Aboating, Ewan McGregor, Charley Boorman, AJ and Melissa Leon


One way to be attractive in business is to help others achieve their goals. The bigger and crazier the ambition, the more appealing you can become by helping to achieve it. Or do you?

While everyone wants to be associated with success, what are the pitfalls of associating yourself with an endeavour that fails? Is that good for a business? Does that make it genuinely attractive or the opposite?

We explore these questions in this episode of Business Jazz.

The video


Here is the video of the Google+ hangout recorded during the recording of this week's podcast episode:


Links to people and things we mention


Four Birds Aboating
Misfits/AJ & Melissa Leon
Long Way Round (Charley Boorman and Ewan McGregor)
Podio
Go To Meeting

New rallying point


You are a big part of the story of this podcast. We'd like you to be an even bigger part of it. To help with that, and to help us have discussions about being genuinely attractive in business, we've established a LinkedIn group. Please knock on the door and we'll let you in.

Country tally


We're hoping to get a listener in every country in the world. The amazing, super, fantastic, wonderful Phil Sorrell has produced an interactive map for us. If you have a Twitter account, you'll be able to add yourself to the map. Hurry – maybe you can be the first in your country.

You can find the map here: Business Jazz Global Listener Map.

Listening to the podcast


You can listen to this week's podcast using the player at the top of the post or download it directly here: Business Jazz – 17th June, 2013.

We're also in iTunes. We'd love it if you subscribed or left some feedback.


Business Jazz Players


This podcast is a collaboration of people dotted around the world. Most of us have never met each other. It's quite a story and it's still evolving. 
If you'd like to read what's happened so far, you'll find it here: Our Story.

Black yoga pants that "showed too much"

Some businesses I can completely relate to. Most businesses I understand,. But there are some that completely fox me .

Take the case of the quaintly named company,  Lululemon. I was, of course, blissfully unaware of its existence until I read a news item that its CEO was leaving (polite term for being fired). Naturally, with a name like that, I couldn't but help read up. Apparently this Vancouver based company is  in the business of "yoga inspired" athletic gear , whatever that means. They are fast growing , but reportedly had a product problem recently which led to the CEO's exit.

The "product problem" made further interesting reading, Apparently, their Luon range of black Yoga pants was getting too many customer complaints - the product was too sheer and ,er, "showed too much" ! A particularly sensitive topic when when doing yoga which involves stretching and contortions !! The outcry was so much that they had to pull the product from the shelves in March.  The CEO stayed long enough to resupply the product, hopefully this time,  not "showing too much", but then had to go.

What amazes me is that this company makes a margin of 50%, selling yoga pants and the like.  Products include "Wunder Under pant" priced at $92 


and "Om pant" also priced at $ 92



If you want more gems such as the above visit their website here.

What foxes me is this. Who on earth wants to pay $ 92 for a "Om pant".  Do yoga by all means, but concentrate on , well, the yoga. Does it matter an iota whether your pant is "om" or "not om" ?? There are many places on earth to make a fashion statement, but I doubt if a yoga session is one of them .

I am a sports nut, as regular readers of this blog would know. I have spent an insane amount of money on sports. But for rackets, bats, balls and the like which help me to play better. Not for looking like an Adonis on court (well, that would be an impossibility anyway, but you get the drift ... ). I thought the purpose of getting on to a training room, or a sports field, is, er, to train or to play.

Yeah, I know lots of people who dress up for the evening walk. This is a disease that especially affects the female of the species. The sight of a Rajalakshmi - she of the ample proportions - trying to look fashionable while huffing and puffing at 1 kmph, I can assure you, is not a sight for the Gods. You can spot a true sportsman or sportswoman from a mile away - just from their dress. Although I admit, that Pete Sampras, one of the all time greats hit new lows in dressing, wearing what I can only describe as a Kachha which a Sardarji would be proud to wear as an underwear !

Even I would blanch at that !

But seriously, you can run a very successful business by peddling yoga pants at outrageous prices ! While being called Lululemon !!

Now , that's a business I can never understand :)