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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2774', 'article_category_id' => '169', 'title' => 'Do Not Count Your Chickens Before They Are Hatched', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Everyone gets excited by a new job offer and for valid reasons off course. A person seeking change always thinks that he has done well but somehow not been duly rewarded. We sometimes feel that our bosses are aliens without any idea how the modern world works and always hassle us from their ivory tower. Thus frustrated, when we receive a new offer, we feel like being in heaven. It is quite natural to get excited and believe that the opening, longed for so long, has arrived at last. </div> <div> </div> <div> But beware; all that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one. A known devil is always better than an unknown friend. Since you would be spending close to 50 hours per week on the job, it is always better to be cautious, even when the offer is from a big corporate. </div> <div> </div> <div> So, before accepting, make sure you have a thorough background check. Here are seven key questions you must answer before deciding. Even when the salary seem to be godsend and the perks seem to be out of the world; even when you have mentally spent half of your extra salary; do not rush and resign till you have answered these questions satisfactorily.</div> <div> </div> <div> <span style="font-size:14px;"><strong>1. Are you clear what you are expected to accomplish on a daily, weekly, monthly and yearly basis? </strong></span></div> <div> Probe long and hard to understand what is expected from you. Job description and designation sometimes can be very vague. I have once come across a job title stating “Conversation Architect” which means “Digital Marketing Manager”. How about “Director Storytelling”? This is a Microsoft PR guy managing their blog “Next at Microsoft”. So what is your employer’s expectation? Ask this and observe the body language. If it is a new position where you are not succeeding anybody and if you see hesitancy while answering; be cautious. The person might have got a dictate from top about certain initiative without any clue on how to proceed. You might end up being the fall guy.</div> <div> </div> <div> <span style="font-size:14px;"><strong>2. Do you know how your success will be judged? </strong></span></div> <div> Understand what are those achievements which will define your performance as success and below what level the result will be seen as failure. A performance management form with Performance Indicators duly charted out in black and white may be of great help but sometimes it may not be sufficient. So when you get clarity on your success matrix, determine whether the organization has measurement tools or not. For example: your job description can state – “ensure within 1% deviation on production specification” but you may end up discovering there is no accurate measurement equipment which can predict below 2% deviation. Then during performance appraisal you would be at the mercy of your boss and his mood on that day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>3. Will you be able to do well in the new role? </strong></span></div> <div> It is nice to be confident and one can always bluff into a job but you have to be true to yourself on your actual ability and qualification to perform. Each one of us has certain strength or weakness. While MBA degree claims to create super monster or efficient robotic humanoid who can perform at any Industry at all levels; in reality it does not happen that way. If the new job does not play to your strength then you may eventually end up losing everything. So, ask yourself this question about your actual suitability and fitment and answer as honestly as possible; if the answer is ambiguous or negative then refrain from accepting.</div> <div> </div> <div> <span style="font-size:14px;"><strong>4. Do you know the culture of the company and the team you will be working with? </strong></span></div> <div> It is very important for you to be fully aware about the culture of the place. This has a huge impact on comfort and quality of life on the job. This in turn decides workplace happiness. For example; if you thrive in an informal culture with open door policy and end up in a hierarchical and formal place or in a corporate where aggression and hostility is the order of the day, you may end up regretting your decision. Likewise, if you inherit a team with a veteran who aspired your position but could not get it due to self inability, he may disparately pray for your failure even at the cost of the team being termed as non-performing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>5. Do you know your Boss? </strong></span></div> <div> Do you know his working style and expectation? There is an old saying that “People leave bosses, not job”. There is also another school of thought that “No people are allowed to select their bosses”. But both are actually different sides of the same coin. In nutshell, the dynamics and equation between two persons are extremely important for both of them to succeed. It is better to have a thorough understanding between you and your boss about each other’s management style and his expectation from you to have a flying start. At least try to answer this question as best as possible. </div> <div> </div> <div> <span style="font-size:14px;"><strong>6. Are you clear about the entire compensation package including details of various perks? </strong></span></div> <div> Do not focus on exactly what will be your CTC (Cost-to-company) salary but also take a look at others perks like House Rent, Car, Utility, Telephone, Education or Medical allowance. CTC may look bigger but what you are getting net at the end of each month is also important. There is nothing wrong to ask your employer about bonus and other annual facility and detail eligibility of the same. It is better to make them as part of their offer letter. Do not be in a hurry but nail down those details before affirming.</div> <div> </div> <div> <span style="font-size:14px;"><strong>7. How does this job fit in your overall career related goal? </strong></span></div> <div> Will it be in line with what you have planned or will you regret this decision two to three years down the line? Sometimes people take a short-term decision knowingly to achieve something bigger. You may decide to take on an assignment not fitting into your long-term strategy due to some short-term tactical goal like flexible timing to pursue higher education or to be in a specific town for some period. But make sure that you decide after due deliberation and not take a blind call. </div> <div> </div> <div> So the bottom-line is clear. Do not rush into decision. Sleep over it and take more than three to four days – preferably a week-end before you decide. Try to envision your future two, three or five years down the line. Answer those seven questions. Answer them diligently, as best as you can. Remember the word of Confucius – “the expectation of life depend upon Diligence; the mechanic that would perfect his work must sharpen his tools first”. So, for a perfect future, do a proper homework on how to sharpen the tools.</div>', 'published' => true, 'created' => '2014-04-10', 'modified' => '2014-06-08', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one.', 'sortorder' => '2623', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2768', 'article_category_id' => '169', 'title' => 'The Right To Reject!', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> Last September, Supreme Court of India passed a landmark judgment by opining that "If right to vote is statutory, right to reject candidate is also a fundamental right of expression under Constitution". Court declared that Democracy is all about choice and if dejected with the candidates, one has every right to express displeasure by rejecting the entire lot and send a clear, unambiguous signal to Political Parties to find better alternatives. Henceforth, “None of the above” as an option will appear mandatorily in every ballot and voters can exercise that if needed. When Voters proclaim blanket dislikes for all, there will be re-election. </div> <div> </div> <div> This sets my imagination flying; suppose we decree that if 50% of the turned out voters cast their vote on “None of the above”, parties must recall earlier candidates and sent new ones for re-election? Moreover, what if those recalled candidates would be barred from contesting for another three years? Not only that, suppose somebody stands from multiple constituency and gets expunged in one, he would be automatically disqualified even if he emerges as winner in the other? What a revolutionary power it will bestow on the common man. </div> <div> </div> <div> We shout about People’s power, People’s Democracy but ultimately, in present context, common man is nothing but a puppet dancing to the tunes of various political parties. With this option, the true power will be with us, the common man. If we dislike the candidates, all we have to do is to cast our vote on “None of the above” option. </div> <div> </div> <div> In any Election, normally voter turnout varies from 50% to 65%. 50% of that is only 30% of the total voting population. So, if 30% of awakened populations are unhappy with the choices given by the Political parties, they can bring down the political parties on their knees. Taking one step forward, what if we mandate that the cost of reelection will be borne by those parties? What a shame will that be! </div> <div> </div> <div> Just imagine the impact. Each political party will put in candidates without any blemish. Re-election will be solely on the basis of good work. All indicted criminals, murderers, fraudsters will not be able to contest because no political party will take chance. People contesting from Multiple Electorate will be equally cautious. If they win in one constituency and Rejection verdict came in the other then they face disqualification for three years. Trend of senior leaders standing up from multiple constituencies will reduce dramatically which will bring in more honest and </div> <div> young politicians. </div> <div> </div> <div> Democracy is about choice and choosing to “Reject” is the biggest reward democracy can offer to people. In Nepal too the supreme court has already given the right to reject election candidates. Now, all the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected, as Scot Howard Phillips stated aptly – “One can’t pick and chose which type of freedom one wants to defend. Either one defends all or against all such freedom.”</div>', 'published' => true, 'created' => '2014-03-24', 'modified' => '2014-05-07', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected.', 'sortorder' => '2619', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1714', 'article_category_id' => '169', 'title' => 'Recipe Of A Successful Business Model', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Buddha's Delight August 2013" src="/userfiles/images/bd.jpg" style="width: 500px; height: 375px; margin-left: 25px; margin-right: 25px;" /></div> <div> </div> <div> Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves? Opportunity can be found anywhere. If there is need-gap, an opportunity exists to bridge that. Optimists see opportunity even in Calamity while pessimists see Calamity in biggest opportunity. Fundamental of any business is about creating value for customers to cater to a need against a price. Any frustration can be the germination of an evolving business model. But what is it that makes some Businesses click while others perish? </div> <div> </div> <div> Let us take an example. Taxi Drivers haggling with fare and tampering meters are common sight in South Asia. They do that as the meter rate is not very high, trips are limited and they face extortions from multiple sources. Coupled with high maintenance and rent, what is left for the drivers? Poor chap has to earn his livelihood and support his family. But a Driver haggling with fare, tampering with Meter is very frustrating for us. Right? What do we do? Nothing. Curse the government, society, politicians. Even curse ourselves for being there. But facing such incidents multiple times, it never occurred to me that a Business Model can be envisioned. Till I heard about Nirmal! </div> <div> </div> <div> Nirmal Kumar; this soft spoken, specially abled person is a 2008 graduate from IIM Ahmedabad. He comes from a modest background in Bihar where his father was a primary school teacher. One night, he was in an Auto Rickshaw in Ahmedabad and got overcharged. Though enraged, he did not curse like most of us. A business idea struck him. He entered with a deal with Drivers parking outside IIM Campus. Against an undertaking that proper fare will be charged, he provided them Free Newspaper and Health-cum-Personal Insurance cover. Starting initially with his own money, he started visiting corporates to draw from their CSR fund. </div> <div> </div> <div> With funds, Kumar increased the facilities for drivers and developed the brand ‘G Auto’. A business model was borne. The drivers benefitted with health care, children education and insurance. Gujarat CM Narendra Modi came for inauguration which helped in many ways. With the vehicles carrying advertisement, sizeable revenues generated. Finally Nirmal Foundation, a trust, formed with Kumar as Managing Director. Currently 21 paid employees are associated with the trust. Revenues from Advertisement, Corporate Donation, and Government funding help them breaking even. The Foundation ensures that any member breaching law will lose membership; but they also help the Driver in case of any unnecessary harassment from the authority. </div> <div> </div> <div> G-Auto voted second in the SMART Mobility Awards on transportation solution given by Michigan University. Recently, the Indian Union Urban Development Secretary has written to all states to emulate the model. Kumar, looking for expansion, met Delhi CM Sheila Dixit with plans for the national capital. </div> <div> </div> <div> Kumar installed new technology like tamperproof computerized meter for positive, sustainable customer satisfaction. With the vehicles being monitored through GPRS, introduction of a Call Center and free Mobile Phone App; now customers can even request for a G-Auto delivered to his place. Imagine the power of this proposition, at late night with normal rate reliability. Usually a driver earns around 200/-IC per day in a normal system after clearing all expenses associated with the vehicle. They resort to unsavoury tactics as the ends cannot be met with limited earnings. But with theses upgradations, G-Auto gets more trips and volume compensated for low earnings per trip. </div> <div> </div> <div> The strength of this model is it’s a winning formula which offers wonderful returns to all stakeholders. This is the essence of any business plan. A business becomes successful if it caters to certain fundamental principles. </div> <div> 1. The offering must satisfy a need – latent or explicit </div> <div> 2. It should create value for a set of people – either directly or indirectly </div> <div> 3. Customers should cherish their experience of association and return back to feel it again </div> <div> 4. The perceived value offered to the customers must be more than the price paid by them </div> <div> 5. It should offer positive profitable solution to all stakeholders; both the drivers and the Customers </div> <div> 6. It should remain relevant and evolve continuously by adapting to the changes happening in Macro Environment. Lots of flourishing businesses suffered due to lack of flexibility and vision! Remember Kodak and its bankruptcy filing? </div> <div> </div> <div> At the end of the day, a business must be profitable and provide Shareholders more return than they would have got from a normal and secured depository route. A dream business in paper that does not make money for its shareholder is a living nightmare. </div> <div> </div> <div> Business Model is like a vision, a dream and when people have a vision which satisfies all these fundamentals - they have a winning formula in their hand. It is the vision that matters. As Sam Walton correctly pointed out - “Capital isn’t scarce; vision is.”</div>', 'published' => true, 'created' => '2013-08-28', 'modified' => '0000-00-00', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves?', 'sortorder' => '1575', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2774', 'article_category_id' => '169', 'title' => 'Do Not Count Your Chickens Before They Are Hatched', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Everyone gets excited by a new job offer and for valid reasons off course. A person seeking change always thinks that he has done well but somehow not been duly rewarded. We sometimes feel that our bosses are aliens without any idea how the modern world works and always hassle us from their ivory tower. Thus frustrated, when we receive a new offer, we feel like being in heaven. It is quite natural to get excited and believe that the opening, longed for so long, has arrived at last. </div> <div> </div> <div> But beware; all that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one. A known devil is always better than an unknown friend. Since you would be spending close to 50 hours per week on the job, it is always better to be cautious, even when the offer is from a big corporate. </div> <div> </div> <div> So, before accepting, make sure you have a thorough background check. Here are seven key questions you must answer before deciding. Even when the salary seem to be godsend and the perks seem to be out of the world; even when you have mentally spent half of your extra salary; do not rush and resign till you have answered these questions satisfactorily.</div> <div> </div> <div> <span style="font-size:14px;"><strong>1. Are you clear what you are expected to accomplish on a daily, weekly, monthly and yearly basis? </strong></span></div> <div> Probe long and hard to understand what is expected from you. Job description and designation sometimes can be very vague. I have once come across a job title stating “Conversation Architect” which means “Digital Marketing Manager”. How about “Director Storytelling”? This is a Microsoft PR guy managing their blog “Next at Microsoft”. So what is your employer’s expectation? Ask this and observe the body language. If it is a new position where you are not succeeding anybody and if you see hesitancy while answering; be cautious. The person might have got a dictate from top about certain initiative without any clue on how to proceed. You might end up being the fall guy.</div> <div> </div> <div> <span style="font-size:14px;"><strong>2. Do you know how your success will be judged? </strong></span></div> <div> Understand what are those achievements which will define your performance as success and below what level the result will be seen as failure. A performance management form with Performance Indicators duly charted out in black and white may be of great help but sometimes it may not be sufficient. So when you get clarity on your success matrix, determine whether the organization has measurement tools or not. For example: your job description can state – “ensure within 1% deviation on production specification” but you may end up discovering there is no accurate measurement equipment which can predict below 2% deviation. Then during performance appraisal you would be at the mercy of your boss and his mood on that day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>3. Will you be able to do well in the new role? </strong></span></div> <div> It is nice to be confident and one can always bluff into a job but you have to be true to yourself on your actual ability and qualification to perform. Each one of us has certain strength or weakness. While MBA degree claims to create super monster or efficient robotic humanoid who can perform at any Industry at all levels; in reality it does not happen that way. If the new job does not play to your strength then you may eventually end up losing everything. So, ask yourself this question about your actual suitability and fitment and answer as honestly as possible; if the answer is ambiguous or negative then refrain from accepting.</div> <div> </div> <div> <span style="font-size:14px;"><strong>4. Do you know the culture of the company and the team you will be working with? </strong></span></div> <div> It is very important for you to be fully aware about the culture of the place. This has a huge impact on comfort and quality of life on the job. This in turn decides workplace happiness. For example; if you thrive in an informal culture with open door policy and end up in a hierarchical and formal place or in a corporate where aggression and hostility is the order of the day, you may end up regretting your decision. Likewise, if you inherit a team with a veteran who aspired your position but could not get it due to self inability, he may disparately pray for your failure even at the cost of the team being termed as non-performing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>5. Do you know your Boss? </strong></span></div> <div> Do you know his working style and expectation? There is an old saying that “People leave bosses, not job”. There is also another school of thought that “No people are allowed to select their bosses”. But both are actually different sides of the same coin. In nutshell, the dynamics and equation between two persons are extremely important for both of them to succeed. It is better to have a thorough understanding between you and your boss about each other’s management style and his expectation from you to have a flying start. At least try to answer this question as best as possible. </div> <div> </div> <div> <span style="font-size:14px;"><strong>6. Are you clear about the entire compensation package including details of various perks? </strong></span></div> <div> Do not focus on exactly what will be your CTC (Cost-to-company) salary but also take a look at others perks like House Rent, Car, Utility, Telephone, Education or Medical allowance. CTC may look bigger but what you are getting net at the end of each month is also important. There is nothing wrong to ask your employer about bonus and other annual facility and detail eligibility of the same. It is better to make them as part of their offer letter. Do not be in a hurry but nail down those details before affirming.</div> <div> </div> <div> <span style="font-size:14px;"><strong>7. How does this job fit in your overall career related goal? </strong></span></div> <div> Will it be in line with what you have planned or will you regret this decision two to three years down the line? Sometimes people take a short-term decision knowingly to achieve something bigger. You may decide to take on an assignment not fitting into your long-term strategy due to some short-term tactical goal like flexible timing to pursue higher education or to be in a specific town for some period. But make sure that you decide after due deliberation and not take a blind call. </div> <div> </div> <div> So the bottom-line is clear. Do not rush into decision. Sleep over it and take more than three to four days – preferably a week-end before you decide. Try to envision your future two, three or five years down the line. Answer those seven questions. Answer them diligently, as best as you can. Remember the word of Confucius – “the expectation of life depend upon Diligence; the mechanic that would perfect his work must sharpen his tools first”. So, for a perfect future, do a proper homework on how to sharpen the tools.</div>', 'published' => true, 'created' => '2014-04-10', 'modified' => '2014-06-08', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one.', 'sortorder' => '2623', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2768', 'article_category_id' => '169', 'title' => 'The Right To Reject!', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> Last September, Supreme Court of India passed a landmark judgment by opining that "If right to vote is statutory, right to reject candidate is also a fundamental right of expression under Constitution". Court declared that Democracy is all about choice and if dejected with the candidates, one has every right to express displeasure by rejecting the entire lot and send a clear, unambiguous signal to Political Parties to find better alternatives. Henceforth, “None of the above” as an option will appear mandatorily in every ballot and voters can exercise that if needed. When Voters proclaim blanket dislikes for all, there will be re-election. </div> <div> </div> <div> This sets my imagination flying; suppose we decree that if 50% of the turned out voters cast their vote on “None of the above”, parties must recall earlier candidates and sent new ones for re-election? Moreover, what if those recalled candidates would be barred from contesting for another three years? Not only that, suppose somebody stands from multiple constituency and gets expunged in one, he would be automatically disqualified even if he emerges as winner in the other? What a revolutionary power it will bestow on the common man. </div> <div> </div> <div> We shout about People’s power, People’s Democracy but ultimately, in present context, common man is nothing but a puppet dancing to the tunes of various political parties. With this option, the true power will be with us, the common man. If we dislike the candidates, all we have to do is to cast our vote on “None of the above” option. </div> <div> </div> <div> In any Election, normally voter turnout varies from 50% to 65%. 50% of that is only 30% of the total voting population. So, if 30% of awakened populations are unhappy with the choices given by the Political parties, they can bring down the political parties on their knees. Taking one step forward, what if we mandate that the cost of reelection will be borne by those parties? What a shame will that be! </div> <div> </div> <div> Just imagine the impact. Each political party will put in candidates without any blemish. Re-election will be solely on the basis of good work. All indicted criminals, murderers, fraudsters will not be able to contest because no political party will take chance. People contesting from Multiple Electorate will be equally cautious. If they win in one constituency and Rejection verdict came in the other then they face disqualification for three years. Trend of senior leaders standing up from multiple constituencies will reduce dramatically which will bring in more honest and </div> <div> young politicians. </div> <div> </div> <div> Democracy is about choice and choosing to “Reject” is the biggest reward democracy can offer to people. In Nepal too the supreme court has already given the right to reject election candidates. Now, all the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected, as Scot Howard Phillips stated aptly – “One can’t pick and chose which type of freedom one wants to defend. Either one defends all or against all such freedom.”</div>', 'published' => true, 'created' => '2014-03-24', 'modified' => '2014-05-07', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected.', 'sortorder' => '2619', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1714', 'article_category_id' => '169', 'title' => 'Recipe Of A Successful Business Model', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Buddha's Delight August 2013" src="/userfiles/images/bd.jpg" style="width: 500px; height: 375px; margin-left: 25px; margin-right: 25px;" /></div> <div> </div> <div> Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves? Opportunity can be found anywhere. If there is need-gap, an opportunity exists to bridge that. Optimists see opportunity even in Calamity while pessimists see Calamity in biggest opportunity. Fundamental of any business is about creating value for customers to cater to a need against a price. Any frustration can be the germination of an evolving business model. But what is it that makes some Businesses click while others perish? </div> <div> </div> <div> Let us take an example. Taxi Drivers haggling with fare and tampering meters are common sight in South Asia. They do that as the meter rate is not very high, trips are limited and they face extortions from multiple sources. Coupled with high maintenance and rent, what is left for the drivers? Poor chap has to earn his livelihood and support his family. But a Driver haggling with fare, tampering with Meter is very frustrating for us. Right? What do we do? Nothing. Curse the government, society, politicians. Even curse ourselves for being there. But facing such incidents multiple times, it never occurred to me that a Business Model can be envisioned. Till I heard about Nirmal! </div> <div> </div> <div> Nirmal Kumar; this soft spoken, specially abled person is a 2008 graduate from IIM Ahmedabad. He comes from a modest background in Bihar where his father was a primary school teacher. One night, he was in an Auto Rickshaw in Ahmedabad and got overcharged. Though enraged, he did not curse like most of us. A business idea struck him. He entered with a deal with Drivers parking outside IIM Campus. Against an undertaking that proper fare will be charged, he provided them Free Newspaper and Health-cum-Personal Insurance cover. Starting initially with his own money, he started visiting corporates to draw from their CSR fund. </div> <div> </div> <div> With funds, Kumar increased the facilities for drivers and developed the brand ‘G Auto’. A business model was borne. The drivers benefitted with health care, children education and insurance. Gujarat CM Narendra Modi came for inauguration which helped in many ways. With the vehicles carrying advertisement, sizeable revenues generated. Finally Nirmal Foundation, a trust, formed with Kumar as Managing Director. Currently 21 paid employees are associated with the trust. Revenues from Advertisement, Corporate Donation, and Government funding help them breaking even. The Foundation ensures that any member breaching law will lose membership; but they also help the Driver in case of any unnecessary harassment from the authority. </div> <div> </div> <div> G-Auto voted second in the SMART Mobility Awards on transportation solution given by Michigan University. Recently, the Indian Union Urban Development Secretary has written to all states to emulate the model. Kumar, looking for expansion, met Delhi CM Sheila Dixit with plans for the national capital. </div> <div> </div> <div> Kumar installed new technology like tamperproof computerized meter for positive, sustainable customer satisfaction. With the vehicles being monitored through GPRS, introduction of a Call Center and free Mobile Phone App; now customers can even request for a G-Auto delivered to his place. Imagine the power of this proposition, at late night with normal rate reliability. Usually a driver earns around 200/-IC per day in a normal system after clearing all expenses associated with the vehicle. They resort to unsavoury tactics as the ends cannot be met with limited earnings. But with theses upgradations, G-Auto gets more trips and volume compensated for low earnings per trip. </div> <div> </div> <div> The strength of this model is it’s a winning formula which offers wonderful returns to all stakeholders. This is the essence of any business plan. A business becomes successful if it caters to certain fundamental principles. </div> <div> 1. The offering must satisfy a need – latent or explicit </div> <div> 2. It should create value for a set of people – either directly or indirectly </div> <div> 3. Customers should cherish their experience of association and return back to feel it again </div> <div> 4. The perceived value offered to the customers must be more than the price paid by them </div> <div> 5. It should offer positive profitable solution to all stakeholders; both the drivers and the Customers </div> <div> 6. It should remain relevant and evolve continuously by adapting to the changes happening in Macro Environment. Lots of flourishing businesses suffered due to lack of flexibility and vision! Remember Kodak and its bankruptcy filing? </div> <div> </div> <div> At the end of the day, a business must be profitable and provide Shareholders more return than they would have got from a normal and secured depository route. A dream business in paper that does not make money for its shareholder is a living nightmare. </div> <div> </div> <div> Business Model is like a vision, a dream and when people have a vision which satisfies all these fundamentals - they have a winning formula in their hand. It is the vision that matters. As Sam Walton correctly pointed out - “Capital isn’t scarce; vision is.”</div>', 'published' => true, 'created' => '2013-08-28', 'modified' => '0000-00-00', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves?', 'sortorder' => '1575', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2774', 'article_category_id' => '169', 'title' => 'Do Not Count Your Chickens Before They Are Hatched', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Everyone gets excited by a new job offer and for valid reasons off course. A person seeking change always thinks that he has done well but somehow not been duly rewarded. We sometimes feel that our bosses are aliens without any idea how the modern world works and always hassle us from their ivory tower. Thus frustrated, when we receive a new offer, we feel like being in heaven. It is quite natural to get excited and believe that the opening, longed for so long, has arrived at last. </div> <div> </div> <div> But beware; all that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one. A known devil is always better than an unknown friend. Since you would be spending close to 50 hours per week on the job, it is always better to be cautious, even when the offer is from a big corporate. </div> <div> </div> <div> So, before accepting, make sure you have a thorough background check. Here are seven key questions you must answer before deciding. Even when the salary seem to be godsend and the perks seem to be out of the world; even when you have mentally spent half of your extra salary; do not rush and resign till you have answered these questions satisfactorily.</div> <div> </div> <div> <span style="font-size:14px;"><strong>1. Are you clear what you are expected to accomplish on a daily, weekly, monthly and yearly basis? </strong></span></div> <div> Probe long and hard to understand what is expected from you. Job description and designation sometimes can be very vague. I have once come across a job title stating “Conversation Architect” which means “Digital Marketing Manager”. How about “Director Storytelling”? This is a Microsoft PR guy managing their blog “Next at Microsoft”. So what is your employer’s expectation? Ask this and observe the body language. If it is a new position where you are not succeeding anybody and if you see hesitancy while answering; be cautious. The person might have got a dictate from top about certain initiative without any clue on how to proceed. You might end up being the fall guy.</div> <div> </div> <div> <span style="font-size:14px;"><strong>2. Do you know how your success will be judged? </strong></span></div> <div> Understand what are those achievements which will define your performance as success and below what level the result will be seen as failure. A performance management form with Performance Indicators duly charted out in black and white may be of great help but sometimes it may not be sufficient. So when you get clarity on your success matrix, determine whether the organization has measurement tools or not. For example: your job description can state – “ensure within 1% deviation on production specification” but you may end up discovering there is no accurate measurement equipment which can predict below 2% deviation. Then during performance appraisal you would be at the mercy of your boss and his mood on that day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>3. Will you be able to do well in the new role? </strong></span></div> <div> It is nice to be confident and one can always bluff into a job but you have to be true to yourself on your actual ability and qualification to perform. Each one of us has certain strength or weakness. While MBA degree claims to create super monster or efficient robotic humanoid who can perform at any Industry at all levels; in reality it does not happen that way. If the new job does not play to your strength then you may eventually end up losing everything. So, ask yourself this question about your actual suitability and fitment and answer as honestly as possible; if the answer is ambiguous or negative then refrain from accepting.</div> <div> </div> <div> <span style="font-size:14px;"><strong>4. Do you know the culture of the company and the team you will be working with? </strong></span></div> <div> It is very important for you to be fully aware about the culture of the place. This has a huge impact on comfort and quality of life on the job. This in turn decides workplace happiness. For example; if you thrive in an informal culture with open door policy and end up in a hierarchical and formal place or in a corporate where aggression and hostility is the order of the day, you may end up regretting your decision. Likewise, if you inherit a team with a veteran who aspired your position but could not get it due to self inability, he may disparately pray for your failure even at the cost of the team being termed as non-performing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>5. Do you know your Boss? </strong></span></div> <div> Do you know his working style and expectation? There is an old saying that “People leave bosses, not job”. There is also another school of thought that “No people are allowed to select their bosses”. But both are actually different sides of the same coin. In nutshell, the dynamics and equation between two persons are extremely important for both of them to succeed. It is better to have a thorough understanding between you and your boss about each other’s management style and his expectation from you to have a flying start. At least try to answer this question as best as possible. </div> <div> </div> <div> <span style="font-size:14px;"><strong>6. Are you clear about the entire compensation package including details of various perks? </strong></span></div> <div> Do not focus on exactly what will be your CTC (Cost-to-company) salary but also take a look at others perks like House Rent, Car, Utility, Telephone, Education or Medical allowance. CTC may look bigger but what you are getting net at the end of each month is also important. There is nothing wrong to ask your employer about bonus and other annual facility and detail eligibility of the same. It is better to make them as part of their offer letter. Do not be in a hurry but nail down those details before affirming.</div> <div> </div> <div> <span style="font-size:14px;"><strong>7. How does this job fit in your overall career related goal? </strong></span></div> <div> Will it be in line with what you have planned or will you regret this decision two to three years down the line? Sometimes people take a short-term decision knowingly to achieve something bigger. You may decide to take on an assignment not fitting into your long-term strategy due to some short-term tactical goal like flexible timing to pursue higher education or to be in a specific town for some period. But make sure that you decide after due deliberation and not take a blind call. </div> <div> </div> <div> So the bottom-line is clear. Do not rush into decision. Sleep over it and take more than three to four days – preferably a week-end before you decide. Try to envision your future two, three or five years down the line. Answer those seven questions. Answer them diligently, as best as you can. Remember the word of Confucius – “the expectation of life depend upon Diligence; the mechanic that would perfect his work must sharpen his tools first”. So, for a perfect future, do a proper homework on how to sharpen the tools.</div>', 'published' => true, 'created' => '2014-04-10', 'modified' => '2014-06-08', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one.', 'sortorder' => '2623', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2768', 'article_category_id' => '169', 'title' => 'The Right To Reject!', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> Last September, Supreme Court of India passed a landmark judgment by opining that "If right to vote is statutory, right to reject candidate is also a fundamental right of expression under Constitution". Court declared that Democracy is all about choice and if dejected with the candidates, one has every right to express displeasure by rejecting the entire lot and send a clear, unambiguous signal to Political Parties to find better alternatives. Henceforth, “None of the above” as an option will appear mandatorily in every ballot and voters can exercise that if needed. When Voters proclaim blanket dislikes for all, there will be re-election. </div> <div> </div> <div> This sets my imagination flying; suppose we decree that if 50% of the turned out voters cast their vote on “None of the above”, parties must recall earlier candidates and sent new ones for re-election? Moreover, what if those recalled candidates would be barred from contesting for another three years? Not only that, suppose somebody stands from multiple constituency and gets expunged in one, he would be automatically disqualified even if he emerges as winner in the other? What a revolutionary power it will bestow on the common man. </div> <div> </div> <div> We shout about People’s power, People’s Democracy but ultimately, in present context, common man is nothing but a puppet dancing to the tunes of various political parties. With this option, the true power will be with us, the common man. If we dislike the candidates, all we have to do is to cast our vote on “None of the above” option. </div> <div> </div> <div> In any Election, normally voter turnout varies from 50% to 65%. 50% of that is only 30% of the total voting population. So, if 30% of awakened populations are unhappy with the choices given by the Political parties, they can bring down the political parties on their knees. Taking one step forward, what if we mandate that the cost of reelection will be borne by those parties? What a shame will that be! </div> <div> </div> <div> Just imagine the impact. Each political party will put in candidates without any blemish. Re-election will be solely on the basis of good work. All indicted criminals, murderers, fraudsters will not be able to contest because no political party will take chance. People contesting from Multiple Electorate will be equally cautious. If they win in one constituency and Rejection verdict came in the other then they face disqualification for three years. Trend of senior leaders standing up from multiple constituencies will reduce dramatically which will bring in more honest and </div> <div> young politicians. </div> <div> </div> <div> Democracy is about choice and choosing to “Reject” is the biggest reward democracy can offer to people. In Nepal too the supreme court has already given the right to reject election candidates. Now, all the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected, as Scot Howard Phillips stated aptly – “One can’t pick and chose which type of freedom one wants to defend. Either one defends all or against all such freedom.”</div>', 'published' => true, 'created' => '2014-03-24', 'modified' => '2014-05-07', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected.', 'sortorder' => '2619', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1714', 'article_category_id' => '169', 'title' => 'Recipe Of A Successful Business Model', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Buddha's Delight August 2013" src="/userfiles/images/bd.jpg" style="width: 500px; height: 375px; margin-left: 25px; margin-right: 25px;" /></div> <div> </div> <div> Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves? Opportunity can be found anywhere. If there is need-gap, an opportunity exists to bridge that. Optimists see opportunity even in Calamity while pessimists see Calamity in biggest opportunity. Fundamental of any business is about creating value for customers to cater to a need against a price. Any frustration can be the germination of an evolving business model. But what is it that makes some Businesses click while others perish? </div> <div> </div> <div> Let us take an example. Taxi Drivers haggling with fare and tampering meters are common sight in South Asia. They do that as the meter rate is not very high, trips are limited and they face extortions from multiple sources. Coupled with high maintenance and rent, what is left for the drivers? Poor chap has to earn his livelihood and support his family. But a Driver haggling with fare, tampering with Meter is very frustrating for us. Right? What do we do? Nothing. Curse the government, society, politicians. Even curse ourselves for being there. But facing such incidents multiple times, it never occurred to me that a Business Model can be envisioned. Till I heard about Nirmal! </div> <div> </div> <div> Nirmal Kumar; this soft spoken, specially abled person is a 2008 graduate from IIM Ahmedabad. He comes from a modest background in Bihar where his father was a primary school teacher. One night, he was in an Auto Rickshaw in Ahmedabad and got overcharged. Though enraged, he did not curse like most of us. A business idea struck him. He entered with a deal with Drivers parking outside IIM Campus. Against an undertaking that proper fare will be charged, he provided them Free Newspaper and Health-cum-Personal Insurance cover. Starting initially with his own money, he started visiting corporates to draw from their CSR fund. </div> <div> </div> <div> With funds, Kumar increased the facilities for drivers and developed the brand ‘G Auto’. A business model was borne. The drivers benefitted with health care, children education and insurance. Gujarat CM Narendra Modi came for inauguration which helped in many ways. With the vehicles carrying advertisement, sizeable revenues generated. Finally Nirmal Foundation, a trust, formed with Kumar as Managing Director. Currently 21 paid employees are associated with the trust. Revenues from Advertisement, Corporate Donation, and Government funding help them breaking even. The Foundation ensures that any member breaching law will lose membership; but they also help the Driver in case of any unnecessary harassment from the authority. </div> <div> </div> <div> G-Auto voted second in the SMART Mobility Awards on transportation solution given by Michigan University. Recently, the Indian Union Urban Development Secretary has written to all states to emulate the model. Kumar, looking for expansion, met Delhi CM Sheila Dixit with plans for the national capital. </div> <div> </div> <div> Kumar installed new technology like tamperproof computerized meter for positive, sustainable customer satisfaction. With the vehicles being monitored through GPRS, introduction of a Call Center and free Mobile Phone App; now customers can even request for a G-Auto delivered to his place. Imagine the power of this proposition, at late night with normal rate reliability. Usually a driver earns around 200/-IC per day in a normal system after clearing all expenses associated with the vehicle. They resort to unsavoury tactics as the ends cannot be met with limited earnings. But with theses upgradations, G-Auto gets more trips and volume compensated for low earnings per trip. </div> <div> </div> <div> The strength of this model is it’s a winning formula which offers wonderful returns to all stakeholders. This is the essence of any business plan. A business becomes successful if it caters to certain fundamental principles. </div> <div> 1. The offering must satisfy a need – latent or explicit </div> <div> 2. It should create value for a set of people – either directly or indirectly </div> <div> 3. Customers should cherish their experience of association and return back to feel it again </div> <div> 4. The perceived value offered to the customers must be more than the price paid by them </div> <div> 5. It should offer positive profitable solution to all stakeholders; both the drivers and the Customers </div> <div> 6. It should remain relevant and evolve continuously by adapting to the changes happening in Macro Environment. Lots of flourishing businesses suffered due to lack of flexibility and vision! Remember Kodak and its bankruptcy filing? </div> <div> </div> <div> At the end of the day, a business must be profitable and provide Shareholders more return than they would have got from a normal and secured depository route. A dream business in paper that does not make money for its shareholder is a living nightmare. </div> <div> </div> <div> Business Model is like a vision, a dream and when people have a vision which satisfies all these fundamentals - they have a winning formula in their hand. It is the vision that matters. As Sam Walton correctly pointed out - “Capital isn’t scarce; vision is.”</div>', 'published' => true, 'created' => '2013-08-28', 'modified' => '0000-00-00', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves?', 'sortorder' => '1575', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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A person seeking change always thinks that he has done well but somehow not been duly rewarded. We sometimes feel that our bosses are aliens without any idea how the modern world works and always hassle us from their ivory tower. Thus frustrated, when we receive a new offer, we feel like being in heaven. It is quite natural to get excited and believe that the opening, longed for so long, has arrived at last. </div> <div> </div> <div> But beware; all that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one. A known devil is always better than an unknown friend. Since you would be spending close to 50 hours per week on the job, it is always better to be cautious, even when the offer is from a big corporate. </div> <div> </div> <div> So, before accepting, make sure you have a thorough background check. Here are seven key questions you must answer before deciding. Even when the salary seem to be godsend and the perks seem to be out of the world; even when you have mentally spent half of your extra salary; do not rush and resign till you have answered these questions satisfactorily.</div> <div> </div> <div> <span style="font-size:14px;"><strong>1. Are you clear what you are expected to accomplish on a daily, weekly, monthly and yearly basis? </strong></span></div> <div> Probe long and hard to understand what is expected from you. Job description and designation sometimes can be very vague. I have once come across a job title stating “Conversation Architect” which means “Digital Marketing Manager”. How about “Director Storytelling”? This is a Microsoft PR guy managing their blog “Next at Microsoft”. So what is your employer’s expectation? Ask this and observe the body language. If it is a new position where you are not succeeding anybody and if you see hesitancy while answering; be cautious. The person might have got a dictate from top about certain initiative without any clue on how to proceed. You might end up being the fall guy.</div> <div> </div> <div> <span style="font-size:14px;"><strong>2. Do you know how your success will be judged? </strong></span></div> <div> Understand what are those achievements which will define your performance as success and below what level the result will be seen as failure. A performance management form with Performance Indicators duly charted out in black and white may be of great help but sometimes it may not be sufficient. So when you get clarity on your success matrix, determine whether the organization has measurement tools or not. For example: your job description can state – “ensure within 1% deviation on production specification” but you may end up discovering there is no accurate measurement equipment which can predict below 2% deviation. Then during performance appraisal you would be at the mercy of your boss and his mood on that day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>3. Will you be able to do well in the new role? </strong></span></div> <div> It is nice to be confident and one can always bluff into a job but you have to be true to yourself on your actual ability and qualification to perform. Each one of us has certain strength or weakness. While MBA degree claims to create super monster or efficient robotic humanoid who can perform at any Industry at all levels; in reality it does not happen that way. If the new job does not play to your strength then you may eventually end up losing everything. So, ask yourself this question about your actual suitability and fitment and answer as honestly as possible; if the answer is ambiguous or negative then refrain from accepting.</div> <div> </div> <div> <span style="font-size:14px;"><strong>4. Do you know the culture of the company and the team you will be working with? </strong></span></div> <div> It is very important for you to be fully aware about the culture of the place. This has a huge impact on comfort and quality of life on the job. This in turn decides workplace happiness. For example; if you thrive in an informal culture with open door policy and end up in a hierarchical and formal place or in a corporate where aggression and hostility is the order of the day, you may end up regretting your decision. Likewise, if you inherit a team with a veteran who aspired your position but could not get it due to self inability, he may disparately pray for your failure even at the cost of the team being termed as non-performing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>5. Do you know your Boss? </strong></span></div> <div> Do you know his working style and expectation? There is an old saying that “People leave bosses, not job”. There is also another school of thought that “No people are allowed to select their bosses”. But both are actually different sides of the same coin. In nutshell, the dynamics and equation between two persons are extremely important for both of them to succeed. It is better to have a thorough understanding between you and your boss about each other’s management style and his expectation from you to have a flying start. At least try to answer this question as best as possible. </div> <div> </div> <div> <span style="font-size:14px;"><strong>6. Are you clear about the entire compensation package including details of various perks? </strong></span></div> <div> Do not focus on exactly what will be your CTC (Cost-to-company) salary but also take a look at others perks like House Rent, Car, Utility, Telephone, Education or Medical allowance. CTC may look bigger but what you are getting net at the end of each month is also important. There is nothing wrong to ask your employer about bonus and other annual facility and detail eligibility of the same. It is better to make them as part of their offer letter. Do not be in a hurry but nail down those details before affirming.</div> <div> </div> <div> <span style="font-size:14px;"><strong>7. How does this job fit in your overall career related goal? </strong></span></div> <div> Will it be in line with what you have planned or will you regret this decision two to three years down the line? Sometimes people take a short-term decision knowingly to achieve something bigger. You may decide to take on an assignment not fitting into your long-term strategy due to some short-term tactical goal like flexible timing to pursue higher education or to be in a specific town for some period. But make sure that you decide after due deliberation and not take a blind call. </div> <div> </div> <div> So the bottom-line is clear. Do not rush into decision. Sleep over it and take more than three to four days – preferably a week-end before you decide. Try to envision your future two, three or five years down the line. Answer those seven questions. Answer them diligently, as best as you can. Remember the word of Confucius – “the expectation of life depend upon Diligence; the mechanic that would perfect his work must sharpen his tools first”. So, for a perfect future, do a proper homework on how to sharpen the tools.</div>', 'published' => true, 'created' => '2014-04-10', 'modified' => '2014-06-08', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All that glitters is not gold. Your current job may not be that great but you would egress from your comfort zone while accepting a new one.', 'sortorder' => '2623', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2768', 'article_category_id' => '169', 'title' => 'The Right To Reject!', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> Last September, Supreme Court of India passed a landmark judgment by opining that "If right to vote is statutory, right to reject candidate is also a fundamental right of expression under Constitution". Court declared that Democracy is all about choice and if dejected with the candidates, one has every right to express displeasure by rejecting the entire lot and send a clear, unambiguous signal to Political Parties to find better alternatives. Henceforth, “None of the above” as an option will appear mandatorily in every ballot and voters can exercise that if needed. When Voters proclaim blanket dislikes for all, there will be re-election. </div> <div> </div> <div> This sets my imagination flying; suppose we decree that if 50% of the turned out voters cast their vote on “None of the above”, parties must recall earlier candidates and sent new ones for re-election? Moreover, what if those recalled candidates would be barred from contesting for another three years? Not only that, suppose somebody stands from multiple constituency and gets expunged in one, he would be automatically disqualified even if he emerges as winner in the other? What a revolutionary power it will bestow on the common man. </div> <div> </div> <div> We shout about People’s power, People’s Democracy but ultimately, in present context, common man is nothing but a puppet dancing to the tunes of various political parties. With this option, the true power will be with us, the common man. If we dislike the candidates, all we have to do is to cast our vote on “None of the above” option. </div> <div> </div> <div> In any Election, normally voter turnout varies from 50% to 65%. 50% of that is only 30% of the total voting population. So, if 30% of awakened populations are unhappy with the choices given by the Political parties, they can bring down the political parties on their knees. Taking one step forward, what if we mandate that the cost of reelection will be borne by those parties? What a shame will that be! </div> <div> </div> <div> Just imagine the impact. Each political party will put in candidates without any blemish. Re-election will be solely on the basis of good work. All indicted criminals, murderers, fraudsters will not be able to contest because no political party will take chance. People contesting from Multiple Electorate will be equally cautious. If they win in one constituency and Rejection verdict came in the other then they face disqualification for three years. Trend of senior leaders standing up from multiple constituencies will reduce dramatically which will bring in more honest and </div> <div> young politicians. </div> <div> </div> <div> Democracy is about choice and choosing to “Reject” is the biggest reward democracy can offer to people. In Nepal too the supreme court has already given the right to reject election candidates. Now, all the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected, as Scot Howard Phillips stated aptly – “One can’t pick and chose which type of freedom one wants to defend. Either one defends all or against all such freedom.”</div>', 'published' => true, 'created' => '2014-03-24', 'modified' => '2014-05-07', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'All the political parties of Nepal will need serious introspection and Civil Society will emerge stronger. In right democracy, freedom has to be universally upheld and protected.', 'sortorder' => '2619', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1714', 'article_category_id' => '169', 'title' => 'Recipe Of A Successful Business Model', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Buddha's Delight August 2013" src="/userfiles/images/bd.jpg" style="width: 500px; height: 375px; margin-left: 25px; margin-right: 25px;" /></div> <div> </div> <div> Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves? Opportunity can be found anywhere. If there is need-gap, an opportunity exists to bridge that. Optimists see opportunity even in Calamity while pessimists see Calamity in biggest opportunity. Fundamental of any business is about creating value for customers to cater to a need against a price. Any frustration can be the germination of an evolving business model. But what is it that makes some Businesses click while others perish? </div> <div> </div> <div> Let us take an example. Taxi Drivers haggling with fare and tampering meters are common sight in South Asia. They do that as the meter rate is not very high, trips are limited and they face extortions from multiple sources. Coupled with high maintenance and rent, what is left for the drivers? Poor chap has to earn his livelihood and support his family. But a Driver haggling with fare, tampering with Meter is very frustrating for us. Right? What do we do? Nothing. Curse the government, society, politicians. Even curse ourselves for being there. But facing such incidents multiple times, it never occurred to me that a Business Model can be envisioned. Till I heard about Nirmal! </div> <div> </div> <div> Nirmal Kumar; this soft spoken, specially abled person is a 2008 graduate from IIM Ahmedabad. He comes from a modest background in Bihar where his father was a primary school teacher. One night, he was in an Auto Rickshaw in Ahmedabad and got overcharged. Though enraged, he did not curse like most of us. A business idea struck him. He entered with a deal with Drivers parking outside IIM Campus. Against an undertaking that proper fare will be charged, he provided them Free Newspaper and Health-cum-Personal Insurance cover. Starting initially with his own money, he started visiting corporates to draw from their CSR fund. </div> <div> </div> <div> With funds, Kumar increased the facilities for drivers and developed the brand ‘G Auto’. A business model was borne. The drivers benefitted with health care, children education and insurance. Gujarat CM Narendra Modi came for inauguration which helped in many ways. With the vehicles carrying advertisement, sizeable revenues generated. Finally Nirmal Foundation, a trust, formed with Kumar as Managing Director. Currently 21 paid employees are associated with the trust. Revenues from Advertisement, Corporate Donation, and Government funding help them breaking even. The Foundation ensures that any member breaching law will lose membership; but they also help the Driver in case of any unnecessary harassment from the authority. </div> <div> </div> <div> G-Auto voted second in the SMART Mobility Awards on transportation solution given by Michigan University. Recently, the Indian Union Urban Development Secretary has written to all states to emulate the model. Kumar, looking for expansion, met Delhi CM Sheila Dixit with plans for the national capital. </div> <div> </div> <div> Kumar installed new technology like tamperproof computerized meter for positive, sustainable customer satisfaction. With the vehicles being monitored through GPRS, introduction of a Call Center and free Mobile Phone App; now customers can even request for a G-Auto delivered to his place. Imagine the power of this proposition, at late night with normal rate reliability. Usually a driver earns around 200/-IC per day in a normal system after clearing all expenses associated with the vehicle. They resort to unsavoury tactics as the ends cannot be met with limited earnings. But with theses upgradations, G-Auto gets more trips and volume compensated for low earnings per trip. </div> <div> </div> <div> The strength of this model is it’s a winning formula which offers wonderful returns to all stakeholders. This is the essence of any business plan. A business becomes successful if it caters to certain fundamental principles. </div> <div> 1. The offering must satisfy a need – latent or explicit </div> <div> 2. It should create value for a set of people – either directly or indirectly </div> <div> 3. Customers should cherish their experience of association and return back to feel it again </div> <div> 4. The perceived value offered to the customers must be more than the price paid by them </div> <div> 5. It should offer positive profitable solution to all stakeholders; both the drivers and the Customers </div> <div> 6. It should remain relevant and evolve continuously by adapting to the changes happening in Macro Environment. Lots of flourishing businesses suffered due to lack of flexibility and vision! Remember Kodak and its bankruptcy filing? </div> <div> </div> <div> At the end of the day, a business must be profitable and provide Shareholders more return than they would have got from a normal and secured depository route. A dream business in paper that does not make money for its shareholder is a living nightmare. </div> <div> </div> <div> Business Model is like a vision, a dream and when people have a vision which satisfies all these fundamentals - they have a winning formula in their hand. It is the vision that matters. As Sam Walton correctly pointed out - “Capital isn’t scarce; vision is.”</div>', 'published' => true, 'created' => '2013-08-28', 'modified' => '0000-00-00', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Venture Capitalists speak about new venture; they seek a business plan elaborating Forecasted ROI, Equity split, Break Even point, ROCE, Target segmentation etc. But how a business evolves?', 'sortorder' => '1575', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
