Who said what at Day 2 of Business Today MindRush 2014
Business Today November 29, 2014
We wrap up the live blog for the event. In case you missed a few sessions, you can track the full coverage of the event right here. See you again next year!
With these words of wisdom, the power-packed Day 2 comes to an end and so does MindRush 2014.
5:52 pm: Norgay recalls his father's words: "Be a leader, be a guide and accomplish. Above all, be great and make others great."
Offering an important leadership lesson, Norgay says that it isn't individuals who get to the top of a team. Instead, it is important to have a good team. It is also important to have a burning desire, and to be passionate about your dreams, he says.
5:48 pm: Climbing a mountain requires team work and planning. Just like any corporation, says Norgay.
Norgay says after climbing the summit of the Everest "I felt very proud to be standing where my father stood 43 years ago".
5:42 pm: "My father Tenzing had showed by climbing Everest that if you have passion you can achieve anything in life," says Norgay.
5:38 pm: Recalling his father's 1953 expedition with the New Zealander Sir Edmund Hillary, Jamling Norgay highlights the communication difficulties those two would have faced. He says while his father barely spoke English, Hillary did not know Hindi, Nepalese or the Sherpa language.
5:33 pm: Showing pictures of rubbish left behind by climbers on the Everest over the years, Norgay says climbers these days are much more aware of the environment.
5:30 pm: The mountain-climber recalls that during their expedition they heard about the accidents that took the lives of several climbers in 1996.
5:25 pm: Recounting his 1996 expedition, Norgay explains the difficulties he and other climbers faced. Besides the technical difficulties, lack of oxygen at higher altitudes, the expedition also faced some unique challanges because it carried an IMAX camera to film the entire climb.
5:20 pm: Norgay talks about his Everest climb. He takes the audience through his expedition with a visual treat in the form of slides.
5:15 pm: In his presentation, Norgay talks about his Everest expedition and offers a brief glimpse into the lives of Sherpas, the famous mountain climbers from Nepal.
5:06 pm: Mt Everest climber Jamling Tenzing Norgay, who is the son of Tenzing Norgay - the first along with Sir Edmund Hillary to climb Mt Everest, will speak on 'We all have an Everest to scale. How to conquer yours?'
It is now time for the final session of the day and the two-day event.
5:02 pm: Anita Nayar, CEO of Havas Media Group, India and South Asia, unveils the Havas Media Meaningful Brands.
4:55 pm: Doraiswamy interacts with the audience and discusses topics ranging from the benefits of meditation to the work-from-home culture that many companies are putting in place.
4:50 pm: The professor says you can trick your brain, too. How you think about yourself matters a lot, he says. "An enriched work environment, exercise, adequate sleep are essential to optimising brain fitness," he adds.
4:43 pm: On dealing with stress, Doraiswamy says there is nothing like a vacation to recharge you. "Stress affects the entire body, head to foot, causes a number of problems and reduces your life span," he says.
"Memories are constructed in a complex way, and learning is highly individualised," he says.
4:39 pm: Doraiswamy says that, in just six months, people forget 90 per cent of training materials. What people need is rehearsal, and group rehearsal is better as it stimulates the environment.
"Google gives its employees 20 per cent of their time to do what they want and some of the best ideas have come up during this time," he says.
He stresses on the importance of a free, calm brain, saying that free time is very important for the brain and suggesting that companies should give scheduled time to employees to think.
4:35 pm: Doraiswamy asks the audience whether the brain uses more energy while reading a balance sheet or day dreaming.
4:30 pm: Cognitive depletion is the worst situation to make decisions, says the professor.
Exercise helps in increasing blood supply to the brain, he adds.
"We did early MRI scan and found white patches in the brain. They are small blockages in blood vessels due to unhealthy lifestyles," he says.
One glass of alcohol completely relaxes the brain but don't overdo it, says Doraiswamy.
60% of brain is water. You need to hydrate yourself regularly. Also eat small meals, says Doraiswamy.
4:26 pm: Regarding food and drink habits...
4:22 pm: Stressing on the importance of staying fit, Doraiswamy says that exercise and diet have a significant effect on your mood and brain. "Exercise is king, diet is queen", he says.
The brain loves novelty, like a baby with new toys, says Doraiswamy.
He cites the example of a company in Silicon Valley that has a zip line from the office to a bar nearby. This, he says, would encourage employees to come to work and fire-up their brains.
4:15 pm: Doraiswamy says it takes six to eight weeks to see any visible change in performance. Visualisation helps in doing a task as the brain rehearses that task before you actually do it, points out Doraiswamy. Novelty is also important to fire-up employees' brains.
4:10 pm: Going into the intricacies of how the brain functions, the professor says, "Pre frontal cortex of the brain is what needs to be kept active & alive with complex activities."
Well, well... "Women are better listeners as they have more fibres going from left to right brain," says Prof Doraiswamy.
4:00 pm: Doraiswamy says we can improve our IQ through practice, "by playing chess or sudoku, for instance". Explaining the brain's functioning, he says most of the brain's cognitive abilities drop by 25 per cent if we don't sleep one night.
"Nobody should think they cannot improve their brain's performance," the professor says while showing a picture of famous scientist Albert Einstein's brain.
He says people use a small percentage of their brain. It can be increased five to six fold.
3:50 pm: Doraiswamy says companies pay the least attention to improving the performance of their employees' brains. He quotes a CNN survey of 150 global CEOs, which found that these top executives were much stressed, they travelled a lot, did not spend enough time with family.
3:46 pm: Prof Doraiswamy will discuss how to 'Spark your Grey Cells to do more for you!'.
Next up is the Ignition Lab II segment with P Murali Doraiswamy, professor at the Mental Fitness Lab at Duke University, right after the guests get back from the coffee break.
To which, Aggarwal says, "Entrepreneurs never fail, enterprises do."
"As a startup you fail every day until that one day when you succeed," says Gondal, adding, "We need to celebrate failures as it is part of the disruptive DNA of entrepreneurship."
Speaking about entrepreneurial success...
On the consultancy business, Bhandari says consulting does not grow as it is a very service-oriented business. "It involves organic growth. The scaling model is slow but there are other domains that are opening up for consultants." He cites online services as an example, saying that perhaps one can scale up at that segment.
In order to create true value in the market, there is scope only for being number 1, 2 or in worst case scenario number 3, says Gondal of goqii.com.
Regarding growth and profitability
A. Aggarwal says that when you enter entrepreneurship there are many hurdles. Most importantly, the work-life balance for women. Regarding women role models, she says, "For women, there are very less role models, especially in the technology sector. You will see more and more women in the future."
Q. What's the role of women in entrepreneurship?
We have started celebrating entrepreneurship. And that is the positive thing that the media has done. It is a great thing to say that you are an entrepreneur, says Vishal.
Laveesh says that we should look at the frequency of exits. We will see many such activities. "The cost of entry into the entrepreneurial ecosystem has gone down; the only impediment is high salaries that people are getting," he adds.
A. Radhika says at this point there are so many platforms to launch your business. "It will easier to translate your business ideas. There are multiple exits in the Silicon Valley but India currently does not have them, but more people will be encouraged to take the entrepreneurial route if there more easy exits."
Q. What next, now that there are several inflection points in the market?
Radhika says that India is at an inflection point. India has gone mobile from landline and offline. WalMart is not going to be an offline; it is going to be online.
Vishal says billion dollar valued companies are growing fast. There is not much to invest in China and all the action seems to be happening in India. Everybody is looking for their own Alibaba today in India.
The entreprenuers of the late 90s were quiet innocent. But today they are far better prepared to deal with a situation, says Bhandari.
2:58 pm: Josey's first question is - How is the scenario different from the dotcom boom and today? Are we in a bubble?
2:56 pm: The panelists introduce themselves briefly. Aggarwal says entrepreneurship has been risky but very interesting, while Vishal Gondal says he has a very different take on wearable technology. "We are building a platform of trainers, at least 1000 of them and we will give the wearable for free," says Gondal.
2:48 pm: Business Today Managing Editor Josey Puliyenthuruthel to anchor the next session on entrepreneurial businesses. The panelists are Laveesh Bhandari of Nielsen India, Radhika Aggarwal, co-founder of shopclues.com and Vishal Gondal, Goqii.com.
2:30 pm: Meanwhile, check out the full coverage of Day 1 at MindRush 2014, with exclusive stories, pictures and event videos - Wave presents Business Today MindRush.
1:45 pm: After two intense and thoughtful sessions by experts, the guests disperse for lunch. Do come right back at 2:30 pm as two entrepreneurs discuss what lies ahead for the entrepreneurial ecosystem.
Docker's mantra to leaders on how to make people believe what you believe in is - Convince, Enrol & Inspire!
He stresses that we are human 'beings' not human 'doings' and it's time to understand the relevance of 'being' over 'doing'.
1:34 pm: Docker answers a few leadership questions from the audience. He points out that being significant in our lives is what we always strive for, but we are biologically wired to serve and help others. That is the most important thing in life.
1:30 pm: From 'why' to adaptive leadership to right-to-left thinking, Docker ends his sessions by quoting Leonardo Da Vinci - "Simplicity is the ultimate sophistication."
What's your cause and purpose? Unless you know that clearly, you cannot make headway. If everybody is clear about it, then you can build up on it. Use the 'why' to think what else you can do to further your aim.
1:22 pm: Streamlining his talk so far, Docker says it is all about right to left thinking. Embrace adaptive leadership and it starts with why, says the motivation expert.
Explaining why relationship is the foundation of everything that one accomplishes, Docker says, "If we deepen it (relationship), it has a disproportionate impact on what we accomplish... As a force commander in RAF, I spent most time building relationships. It enabled us to connect what we are doing and why we are doing."
A leader will make you leave the room thinking about you and not himself, says the expert.
1:10 pm: After the guests share their memorable human attributes with Docker, he points out that people remember others because of how authentic and genuine they were. "Leadership is about being in service of others, it is about sacrifice."
Peter Docker tells the audience to write the names of 4-5 people who have made a positive impact on them. He then asks them to write down the names of people who they would not want to meet again in their life. After listing names, Docker asks the audience to recall the human attributes that made them remember all the people.
1:05 pm: Now for some audience participation.
Moreover, adaptive leadership allows leaders to expand skills, says Docker.
It requires empowerment and willingness to learn. It starts with a senior guy saying I don't know what to do but together we can learn our way through the problem. The most imporant tool here is the willingness to learn.
So how do you lead in that situation?
>> The second type is the adaptive challenge - Here you don't know what the solution is. Sometimes you don't even know what the challenge is.
>> Technical problem - It is a problem where we know what the problem is and so we can draw on our past experiences to tackle it.
12:55 pm: Peter Docker talks about adaptive leadership. Usually there are two types of challenges.
12:54 pm: Moving ahead with the 'Why, How, When' concept, the leadership guru says when leaders are clear about their 'why', they will get a warehouse of opportunities.
"I can visualise standing on the top of the mountain. I see the horizon from there." It is that visceral emotional connection that will get you to the top of the mountain, says Peter Docker.
12:45 pm: If you want to climb the mountain, start at the top. Think about the top, not the bottom.
Getting into the concept of 'Brain-Art', Docker says, "That is where you visualise the future you imagine, viscerally connect using our limbic brain. That emotion forms all the future action.
What if you have to create something new, of which you have no experience?
12:40 pm: Clarity of 'why' and discipline of 'how' matters a lot, says Peter Docker. We look at the past and apply it in the present and get the predictable outcome. But that is not a breakthrough; at best it can only give you an incremental change.
When a new business starts, what you or why you do it is clear. While the business gets bigger over time, you are so detached from the people and very soon the focus on why is lost. All leaders of business needs to be reminded why they do what they do, emphasizes the motivation expert.
12:35 pm: Giving tips to business leaders, Docker says, "Start with why? What is the impact of the contribution you make? It is not just money; it is about fulfillment and satisfaction. Any business can be measured on two axes: time and money."
12:25 pm: Citing automaker Rolls Royce as an example, Docker says taking the best and making it better is the best way to go about doing business.
There is a constant churn with people looking for better deals and the companies trying to woo back customers, says Peter Docker.
What next? Lower the price.
When talking of selling, 'how' is manipulation and 'why' is inspiration, articulates the leadership expert.
12:21 pm: There are two ways of selling, manipulation and inspiration, says Docker.
The same goes for hiring too. The goal is not to hire anybody who needs a job. The goal is to hire someone who believes in what we believe in.
The goal is not to sell to everybody. The goal is to sell to those who believe in our beliefs.
12:18 pm: Why we do things is the most important thing to think of in any business. Start with why instead of what you do.
Most of us we think and act from the outside ring that is what. But, most of the successful ones first think why we are doing what we are doing, then think how to do it.
The Golden Circle explains why some organisations inspire. People know what they do, some know how they do it but very few know why we do what we do.
Where do actions come from? Perceptions. Perceptions hold the key.
In business one is always interested in results. Unless there are results, businesses does not work. Results come from the actions we take. Management comes in here. Making people act for a result.
If things are simple, they are memorable, and therefore they are repeatable. If it is repeatable, then one can create a culture out of that.
A leadership consultant and executive coach, Docker has engaged at senior levels with several of the world's largest companies, developing an understanding of many industries including oil and gas, construction, mining, pharmaceuticals, healthcare, banking, aviation, and many more.
11:58 am: After the snack-break, the session with Leadership and Motivation Expert Peter Docker is about to begin.
Did you miss out on what Naina Lal Kidwai had to say about banking? We have you covered - Banking in tumultuous times in India
Meanwhile, check out who were the Best CEOs awarded on Day 1 of MindRush 2014 - Business Today picks India's Best CEOs
The guests have dispersed for a quick break, after which we have Peter Docker for another engaging session.
11:25 am: Highlighting these key points for the business leaders, the management guru ends his session. Wave Group CEO Manpreet Singh Chaddha presents a token of appreciation to Charan.
Change your attitude. Think of issues that are broader than your own company, advises the management guru.
11:20 am: Things to keep in mind for business leaders: Always keep an eye on the prize. People around you are important. Resilience is critical. Leaders do not commiserate. Take a depressing conversation and make it constructive. The word 'how' is critical in execution. Look over the horizon, into 10 years.
(As the management guru provides useful insights into the art of doing business, leaders are busy taking down notes)
He says that India should target 200 companies globally to get FDI and be part of the global system.
11:10 am: Speaking about foreign investments, Charan says, "Foreign reserves need to go up and for that we need FDI, almost $100 billion a year. It is going to take time."
He adds that the country needs to create credibility, which will come from actions.
11:03 am: Expressing optimism about India, Charan says, "I see a lot of good things happening in India. Mr Modi has made a very good start."
10:59 am: "When ministers or secretaries ask for new ideas of business from you, think of a business idea/issue that is broader than your own business. Think of the industry and always learn the frame of reference of the individual in the government with whom you are going to deal with," advises the CEO coach.
10:45 am: I have seen no other culture that displays 'dedication' as a value as India does, says Ram Charan.
10:38 am: Entertainment, affordable housing, education, there are lot of opportunities in India, says Ram Charan. In fact there is a global demand for education.
10:33 am: Ram Charan asks the floor to think of new business ideas for a while, after which he will discuss a few of them.
10:25 am: Rise in fortitude in the face of adversity, says Ram Charan.
(Q. Which customer needs do you think are going to be very large 10 years hence? Leave answers in the comments section below)
Charan advises the leaders present to discuss 'customer needs' at least once a month with their think tanks.
He urges businesses to think which geographies will nurture such needs (customer needs) better in the days to come.
10:14 am: Reiterating that customer needs is the key for businesses, the management guru cites an incident from personal experience, "At our family shoe shop, my father told me listen to the customer, he will teach you."
10:10 am: 'Teaching is easy... But going from big theories to doing is a demanding task'
Act in such a way that it can enhance your image with the customer, he adds.
10:05 am: Regarding product differentiation, management guru Charan says, "Over time you need to strategically differentiate your business from your competitors."
While 'Eye on the prize' is critical, Ram Charan discusses what aspects would make the 'prize' go profitable.
'Eye on the prize' has to be the top priority for businesses in the nation: Ram Charan
9:55 am: "Leaders do not commiserate. When you face adversity, you seek information and focus on it. You should start thinking how it will alter my landscape," says Ram Charan.
9:50 am: "What can we do to the customer?" is the question that Amazon's Jeff Bezos' constantly wondered with his team in every Monday morning meeting. This is the only way that one can drive the company customer-centric. So customer is the teacher. But, the value is in practising daily this test will help you strategically differentiate your business from your competitor, says the CEO Coach.
Look for external catalysts that can change the landscape for your business, says Charan.
Expand your horizon to get more business ideas, says the management guru.
9:40 am: Leadership is a performing art. If each of you go back and teach what you learn here to 10 others, it will make a huge difference, says Ram Charan
9:35 am: To begin the day we have Global CEO Coach Ram Charan who will begin the 'Idea Incubator' segment with a do-and-tell session on fitness.
Guests are settling into their seats.
The first half of the day will feature inspirational talks from Global CEO Coach Ram Charan and Leadership & Motivation Expert Peter Docker. While Charan will speak about 'Good Times: How to convert cues into business plan. Leaders don't sit on signs', Docker will discuss the art of the brain and give you tips on how to unveil the extraordinary YOU!
09:30 am: Good morning all and welcome to a live blog of Day 2 at Business Today Mind Rush 2014 at The Oberoi, New Delhi. It is expected to be a power-packed day with interesting speeches and discussions lined up.