PEOPLE SKILL – THE DIFFERENTIATOR

Having a high level of technical skills, extensive experience may not necessarily contribute to high level of performance or rise in the career.  So what are we missing?  Obviously “People Skill”.  People skill can be defined as a set of skills which help an individual to interact and relate to people effectively for achieving organisational goals. People skill is the ability to develop and nurture relationships for getting the best from people.  While relationships are important, relationships should be balanced with results.  Results not at the cost of relationship and relationship, not at the cost of results. It is the ability to tolerate differences in people, understand and appreciate the qualities of others and not expect others to always toe the line. Some of the people skills and attributes are detailed below:

 

  1. Ability to Relate to Others: It is the ability to make others feel respected and important without degrading oneself.
  2. Ability to Trust Others: Trust is the foundation of any relationship.  You can develop “trustworthiness” in others by first trusting them.
  3. Effective Communication Skill: An important way of getting better results from others is to communicate with them your expectations from them.
  4. Listening Skill: While communication is an important part of people skill, listening is even more important in the communication process.  Listening is very important as listening means that you respect the other person and he/she is important for you, as listening is “YOU” centred and communicating is “I” centred.
  5. Genuine Interest in Others: You can get support, guidance and help from others when you are able to show genuine interest in them through active listening, thoughtful questions and understanding of their concerns and perspectives.
  6. Good Judgment of People: The ability to judge people for their worth is a pre-requisite to the decision to have the right people and investing in them.
  7. Coaching, Counseling and Mentoring: People working with you do not fit into one category and hence you cannot have a standardized approach to dealing with them.  There are people who have a relatively high level of competence but they can be developed further by coaching.  Then there is a second category of people who do not perform well because of certain reasons.  You are then required to understand their problems through patient listening and understanding and counsel them.  A third category includes those who high performers but have the inherent capability to taken up even more challenges and responsibilities. These people need mentoring for their own development and contributing even more to organizational goals.
  8. Ability to motivate and support your people: Motivation is the key to higher performance and motivation keeping in view the capabilities of your people and followed by the necessary support can get you willing cooperation of your people.
  9. Flexibility: Openness and receptivity to others ideas and views is the hallmark of a person high on people skill.  Rigidity on the other hand spoils relationships and distances you from others.
  10. Honesty & Integrity: People skill is all about drawing people to yourself and what better way of doing it than by your own behaviours and actions.  Honesty and integrity is the foundation of anything to do with people as they say “walk the talk”.

By:

Prof. (Dr.) S.P. Chauhan

Professor (OB & HR) and Officiating Director

Asia-Pacific Institute of Management, New Delhi

Analytics & BIG DATA for School Kids

The information technology is opening new vistas for the new age citizens, especially in the urban India. A country where the literacy rate has seen consistent growth over last few decades, the next measure of modernization, i.e. Computer Literacy is also showing upward trends.  India has the world’s 3rd Largest Internet Population and 2nd largest in Asia Pacific. 75% of PC internet (personal or work computer) users in India are under the age of 35 and 90% of mobile internet users in India are under the age of 35. Almost all the parents in the metro cities are connected to the internet.  It took the country 10 years to go from 10 million internet users to 100 million internet users. Now the country is adding five million new Internet users every month. India already has over 200 million internet users. They are adopting new technologies in their daily lives. Applications like Facebook, Whatsapp and Gmail are now integral parts of the life for these well educated parents. These growing number of internet users are generating huge amount of data, along with the data being captured by their interaction with the various software at different touch points in daily lives.

The possibilities of using Analytics and Big Data for the Kids Care are endless. Strategic adoption of technology can help in security, health, education, interest & career decision for the schools and parents. The journey of a school kid starts with getting in to the school bus. Now the schools are mulling to replace the traditional paper base identity cards with the RFID enabled Identity cards. The moment student enters the bus upon swiping their card at the entrance, the information about the unique ID, date, time, Bus No. etc. is automatically entered in the database of the school. This database becomes handy for the parents too, as they can check the status of Bus, the staff on boards, time of boarding and getting down etc. This information is being provided to parents over ERP (Enterprise Resource Planning Software), SMS and Whatsapp mobile applications. The administrator of the school can also keep a check whether a student has entered the bus or not. They can also match the data of students entering the school and leaving the school. This auto match report can further help save any student who might be prone to some security risk in the school premise. These softwares may send alert to the administrators and parents about the mismatch of incoming and leaving report of the campus.

Further the performance of school kids is being entered on the software where the data of student’s performance in various subjects, hobby classes, activities and events is stored. The analysis of this data may reveal the hidden trends and help find the best suited path for the students. The interest level, regularity in school, sudden fall or improvement in a particular subject can also help the school administration to identify the reasons behind it.

Author:

Prof. Saurabh Mittal

Asia-Pacific Institute Of Management

What makes Reliance Jio so successful?

Some say that Ambani is an acronym for ambition and money. Whenever there is a new product launch by the Reliance this glittering dualism of ambition and money is most starkly reflected. Either it has been the launch of Vimal that heralded the era of new-age rich man’s cloth-line for public or the Reliance IPO, the success of a product by Reliance industries is stamped its marquee launch. Either it’s “Only Vimal” or Jio, the Ambanis truly know how to create a rage for their products.

Although business pundits may prefer to reserve and qualify their opinion, often as a comfortable habit of maintaining equivocality, on whether Reliance Jio has really been a runaway success in the most competitive telecom industry but the kind of themarket gain and buzz that Reliance Jio has made is undeniably a huge success. The numbers itself tell the story. Reliance claimed to register 16 million subscribers within the first month of its launch and proudly crossed hundred million subscriber mark within just few months of it launch in Delhi NCR. By the recent estimates Reliance has been able to convert 50 million of its subscribers to prime membership who are of course going to stay longer with the Reliance Jio as a loyal customer.

If you look at the success of Reliance products we find a key point that set them apart as compared to their competitors. This will also answer our question why Reliance Product Launches are so special?

A fundamental reason for the success of Reliance Jio has been their regular strategy of thinking big and delivering something that neither customers nor even competitors can ever imagine. This power of thinking big often go unnoticed but is fairly perceptible behind the success of all their launches. Well, it’s not uncommon to think, talk, being sermonised and listening others talk about the power of thinking big. In fact, there have been many self-help books on the same topic becoming bestseller which only highlights how much this skill is in demand.

The Reliance Industries since its inception led by the visionary leader and entrepreneur Late Shri Dhirubhai Ambani not only relied on thinking big but also beat its key competitors (Like Wadias and current telecom companies) by making thinking big as part of its regular strategy. So start thinking and delivering big from today. Once you start doing it you’ll be amazed to see how much power and potential is lying dormant inside you.

Author:

Dr. Sanjay Singh, Assistant Professor (HRM/OB)

Asia-Pacific Institute of Management

How to write an impressive resume?

The advertisement for the job you were waiting since long is out – and now you have to just few hurdles to cross like the cover letter and the resume and finally the interview call. In this complete procedure of securing a job, a resume actually plays the forefront role since it emphasizes the strengths and confirms the prospective employers why you are the most suitable candidate for the post. A resume has one precise intention i.e. to win an interview; it is essentially an advertisement nothing more or nothing less. It is your brand ambassador. A good resume, apart from telling what you have done, will create a keen interest in the prospective employer’s mind to meet you and to know more about you. An impressive resume convinces the employer that you have the potentials specifically necessary experience, technical know-how, relevant knowledge that make you the best fit for the new position.

According to a research done by a job search site TheLadders.com, the recruiters only spend an average of 6.25 seconds looking at a candidate’s resume before deciding whether he or she is a fit for a job. That means, your resume will be perhaps scanned not read and 6-7 seconds is all your resume has to convince the prospective recruiter to read further. But the mistake most of us commit is to perceive a resume as a written record of past with an objective to inform. So, candidates write resumes because you need one to get a job, it is a mandatory obligation. But on the contrary a good résumé is actually an entry pass to get the job you want, if you write it with a goal. If you really want to create an impressive resume then gather a bit of real eagerness for creating a genuine magnum opus, rather than the people product most people turn out. Here are few tips to help you.

Tip 1: Give attention to the employer’s need.

Before preparing the résumé, one must gather information about job goal, the position he/she is applying for, the required skill set and expertise that the employer will be looking in the candidate. A résumé needs a preliminary focal point to help the reader understand immediately without wasting time to figure out what your qualifications are and what you are capable of doing.

Tip 2: Select a basic Résumé format

There are three basic formats chronological, functional and combined. A chronological résumé format is a traditional structure used by professionals who worked in the same field for a longer duration. The job know-how or experience is the main focus of such a résumé whereas a functional résumé format showcases the skills and accomplishments at the very beginning. This type of résumé is best suited for career changers and also for those with extensive variety of skills. A combined format is a mix of the two above mentioned formats.

Tip 3: Divide the Résumé into two sections

The first part of the résumé must focus on the capabilities, qualities and accomplishments and the second section must justify your claims by giving evidence. In this modern age of customization, there can not be any pretext for not adapting your résumé to every job position.

Tip 4: Remember to highlight your skills and accomplishments

Use this section to talk about your most special qualities and the results of your efforts, your gifted talents etc. Don’t forget the fact that your intention to mention these capabilities is not inform but to sell yourself to the reader. Like an advertisement, you are mentioning your Unique Selling Points. Moreover, it is always gainful to give a statement of achievements by quantifying the results of completed work rather than stating the responsibilities and duties.

Tip 5: Absolutely no errors

Your resume ought to be a visually appealing piece of work. It must be uniform and consistent in style and form. There must not be any type of spelling, grammar, syntax and punctuation errors. As the famous saying goes “brevity is the soul of wit”, keep the sentences in your resume concise and to the point.

Once you have completed, go through the entire document. Then you can take the help of a professional to verify it again because a refresh pair of eyes may detect errors which you must have overlooked.

The verdict to interview a candidate is usually taken after the fast scanning of the resume that makes an impression on the reader and convinces him/her of the candidate’s suitability for the post. Thus, if you have received an interview call from the prospective employer then it means your resume has grabbed the attention and you have created an impressive resume. Always remember a resume can make or mar a candidate’s chance for an interview.

Author:

Dr Reema Chaudhury

Associate Professor (Business Communication & Soft Skills)

Asia Pacific Institute of Management, New Delhi

Payment banks and Small Finance Banks- new entrants to the banking sector

The RBI introduced a new concept of niche banking in India.  In Nov 2014  it issued final norms for Payment banks and Small  Finance banks that would allow mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses. The aim behind these is to provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities. As a sequel to this, recently Airtel has launched India’s first live payments bank followed by Paytm . India Post Payments Bank is the third entity to receive payments bank permit.

The big question is what are Payment banks and Small Finance Banks and how are they different from each other. A quick look below attempts to bring out the difference between the two.

Payment Banks:

  •  OBJECTIVE : Provide small savings accounts and payments /remittance services to migrant labour workforce and low-income households
  • ELIGIBLE PROMOTERS : Individuals or professionals with necessary experience and eligibility, existing NBFCs, corporate banking correspondents, mobile companies, supermarket chains, real estate co-ops and corporate entities.
  •  SCOPE OF ACTIVITIES:

*Accept deposits but customer balance should not exceed Rs.1 Lakh

*Cannot give loans, can issue ATM/Debit card but no credit cards

*Can distribute non-risk simple financial products such as mutual funds and insurance products

*Payments banks will allow last mile connectivity; they will make banking available in remote areas that are not serviced by bank branches currently. For this, payments banks are expected to piggy-back on their existing retail or other networks.

*The operations of the payments banks will be fully networked and technology driven from the beginning.

Author:

Prof. Ravinder Bhatia

Asia-Pacific Institute of Management 

Wining of BJP in State Assembly Election, Economic Reforms and Job prospect

The just-concluded assembly elections and the unparalleled performance of the BJP have been the highlight of the recent times. The magnitude of support shown by voters for the BJP in the states leaves it with a high possibility of being re-elected in the 2019 general elections.  It is also sure that party will gain majority at Rajya Sabha till 2019. Political stability and consolidation of power by the BJP raises expectations of continued economic reforms to sustain India’s rapidly growing economy.

With huge majority in both Lok Sabha and Rajya Sabha our popular Prime Minister Narendra Modi will try to boost growth in manufacturing and build infrastructure. But he has to take some strong steps for this purpose. These steps are –

(1)Improving quality of institutions – improve the quality of institutions and infrastructure, and create a favourable climate for fostering technological progress,

(2)Indian Labour reforms: Indian labour laws, have constrained labour-intensive industrialisation and led to the declining fortunes of labour-intensive industries like textile and leather. But as labour becomes more expensive in China, India can reclaim some lost ground,

(3)Administrative Reforms: Administrative Reforms Commission has made some useful recommendations on governance and economy which, limits the powers of the bureaucracy,

(4)Land acquisition: India also has a significant infrastructure deficit. Investment in a multitude of infrastructure projects — equivalent to an estimated 8 per cent of GDP — has stalled for one reason or another. These cobwebs need to be cleared.

If BJP led by Mr. Narendra Modi can do these then India will get a large growth opportunity in natural produce sectors—food, fruits, vegetables, dairy, poultry and fish. Rural and urban economies support each other through natural produce supply chains. India has huge, insufficiently tapped potential for widespread generation of livelihoods is tourism and hospitality. Some other sectors with large potential for more enterprises and sources of livelihoods around the country are healthcare, renewable energy, water and sanitation. To fulfil the human resource, these upcoming industries need more trained people. Private B-Schools can provide that kind of skills to the young college outing students.

PGDM/MBA DEGREE, LEADERS SHOULDN’T MAKE SO MANY DECISIONS BY THEMSELVES

This article will propose with evidence that leaders need to abstain from taking the greatest number of decisions as they could. They don’t have to bounce into all basic leadership opportunities. The lesser decisions they make, the better it is for an organization. The recommendation has not risen up out of the impulses and fancies of the authors’ perception; rather it is based on scientific findings. A recent article appeared in Psychological Science by Baror and Bar (2016) suggests that the overload of information to the brain may make your decision making process slow and less innovative. On the other hand, a clear brain can find innovative solutions to the problems at disposal.

Keen observers of ‘management’ profession will agree that leadership is important in an organization; yet unfortunately, economics experts hardly depend on it. In economists’ normal models, managers simply fill the crevice in power. An economic model regularly predicts essential bits of knowledge, yet it precludes pivotal role of leadership skills. When they do, they tend to concentrate on how the leader leads. Specifically, Hermalin (1998) and subsequent researchers questions how a leader with private data about the return to effort can persuade her kindred individuals that she is not deceiving them. There is an earlier question: why ought to there be a leader who has exclusive access to data? Why not sidestep the leader and essentially make data accessible to everybody in an organization? A significant part of the late MBA/PGDM course curriculum in top B-Schools, indeed, contends against the leader’s advantaged access to information and for amplifying straightforwardness.

So, why is it hard to make decisions? Maybe, it is on account of the variables and the results are frequently uncertain. As an individual (leader or no-leader with MBA/PGDM degree) we don’t like uncertainty. Uncertainty makes us stressed and analysis paralysis. The key is to know when and what you don’t know is imperative, and provided that this is true, how to gather the necessary data to determine uncertainty. We, as a whole realize that gathering and processing information is expensive, as are its configuration and ideal contracts. On the off chance that we consider each conceivable option, we will have better choices and settle on the best choice. We do this comprehensive inquiry as an approach to eliminate uncertainty.

A study by Shim and Steers (2012) found that Toyota contends both deliberately and authoritatively by underscoring arranging and work frameworks to moderate the effect of any turbulence in the outside environment (stability is key), while Hyundai contends by tolerating ecological instability and danger as a piece of ordinary day by day operations (adaptability is key). As an after effect of these distinctions, Hyundai can change course more rapidly than its bigger rival as new open doors and advances develops. This shows that the quickly changing universe of business requests exceptional aptitudes of basic leadership. The leaders need to settle on choices in light of the present as well as required to be creative and advanced in their basic leadership approach subsequent to considering all contemplations.

Subsequently, it is suitable for a leader to appoint less huge matters of basic leadership to his companions in a hierarchical set up. This will help the leader in decongesting his psyche of the repetitive components or unimportant information and will help him to concentrate on basic leadership and critical thinking issues. This will likewise urge them to make out-of-box thinking, considering the entire picture and taking progressive choices for change of business in this uncertain economic environment. Up-to-date course curriculum at PGDM degree level at Asia-Pacific Institute of Management is a unique way to augment the leadership skills among the aspiring managers.