 Very good morning, welcome back. Before I begin the next part of our morning, I thought I would introduce you to two colleagues of mine from my firm and they are the financial experts, the subject matter expertise or the leadership quality that I was talking about. So, these are the two finance experts and they would introduce themselves. The reason why I brought them in is also very soon, I think in January, that is when we are going to educate ourselves on money apart from technology. So, over to you, Rupali and Pranay. Thank you, Ravi. So, welcome back and I hope that all of you have had a great morning since the start of the day today and it must have been extremely enlightening to hear from Ravi. So, I am not going to take much of your time, but I am just going to introduce to you what we will be covering for you in the next semester on financial literacy. So, just to give you an analogy, as food, shelter and water are the vital elements for anyone to thrive in the environment. Financial literacy, soft skills and technical skills are the three elements that are essential for you to thrive in the workplace and this is exactly and precisely the reason why these three are the foundations on which the college to corporate program is based on. So, why is financial literacy important for all of you? From two standpoints, first from the corporate standpoint, as you transition from your college and academic life to the corporate environment and awareness of the kind of work yet that you do, which affects the bottom line of the company, is important for you to perform and achieve the company's success. An awareness of financial literacy will help you apply financial knowledge and business knowledge to the decisions that you take in your day-to-day area of work that will ultimately go and impact your own professional success as well as the organizations. Secondly, from your own personal standpoint, a knowledge of finance and the various financial products and markets is important for you to be able to make sound and informed personal financing and investing decisions. So, with that specific intent, we are going to introduce to you aspects around macroeconomics, microeconomics, how the financial ecosystem works, what are the various financial products, how do financial markets work, what are the various participants and regulatory bodies in the financial ecosystem. And then we'll also spend time talking about what is PNL, what is balance sheet, how does capital budgeting and planning and forecasting work. And maybe we'll also offer you some insights into how you can plan your own personal finances. See, the information around Lakshmi is equally important as Saraswati. So, the Saraswati is what your college, your institution and your professors will impart to you. Of course, that will convert into Lakshmi someday, very soon for many of you who will enter into corporate, social, non-governmental or whatever the kind of organizations that you would. But an understanding of Lakshmi and both Saraswati, then that builds the Durga for you. So, LSD, Lakshmi, Saraswati and Durga, don't get me wrong. This is the acronym that I know. I don't know what LSD would you know of. Well, then it looks like everyone would be looking forward to the sessions on Lakshmi. So, just stay tuned for the financial literacy courses coming up in your next semester. And with that, I'll hand it back to Ravi to take on with the rest of the session. Thank you. Thank you very much. So, good morning to all of you. I will just take a few minutes. Before I begin, let me comment on what Rupali and Pranay told you about the financial literacy program. She used a term which I'm not very sure you're all familiar with. She said bottom line. Now, bottom line has various interpretations in human life. But what she was referring to, that if there is a company which earns money, then the total money that is earned, that is the total revenue, is called the top line. And the profit that you make after accounting for all expenses and taxes is called the bottom line. Very obviously, unless you increase the top line, you cannot increase the bottom line. However, increasing top line alone does not necessarily mean that bottom line will increase. Same thing applies to individuals as well. When I earn money through salary or whatever, that is my top line. Then whatever expenses I incur, whatever taxes I pay, and what are savings I do is my bottom line. So obviously, an individual human endeavor is to enhance both the top line and bottom line as do corporates. And I'm sure Rupali, Pranay and two of my colleagues, Prasad Varadaraj Baput and Prasad Nageshwar Rao, will be jointly leading you to understanding some of these basic principles. The reason for my coming here is twofold. First of all, I would like to profusely thank Ravi for spending his personal time, as you all would have guessed. He's a very senior official from JP Morgan. And to commit himself for spending quality time here, both for recording of videos and for this interaction is very commendable. I would like to personally thank you and thank you on behalf of the entire group of students who are attending. The second, as you are aware, this is the last face-to-face interaction that we have in the morning in the soft-skill program and in the afternoon in the workplace communication group. As you already know, we're going to launch the financial literacy and technical skill courses. There's going to be two separate one month long courses, which will be conducted next semester. But I have been interacting with a large number of remote centers. Personally, I had gone to Lucknow, I had gone to Kochi, I had gone to Kolkata, I had gone to Bhopal and talked to people. I'll be going to Indore to two remote centers on 9th of November to meet them personally. But the feedback is that this course is extremely important. It is perceived to be very useful by students as well as by teachers. So as I had said, in the subsequent years, we will be running this College to Corporate program as a paid service. Of course, we are still working out on what should be the modalities and what should be the fees. There has to be a non-trivial, non-zero fees. However, the fees cannot be very large because students have to be able to afford it. Towards this end, and also to get a concrete feedback on the usefulness and effectiveness of the courses that we have run, a survey is being released next week. Please note two things about this survey. Number one, the survey is mandatory. That means unless you fill up the survey, even if you qualify, otherwise you will not be entitled for a certificate. That is typically IIT's way of ensuring that we get the feedback. Even when we collect feedback from students for our own courses that we offer, that feedback is mandatory. The grades are submitted by the teachers, but they are not given to the students unless students have filled up the feedback. The second and equally important point about this feedback is that the feedback is completely anonymous. We will of course know whether you have submitted the feedback or not, but the people who analyze the feedback will never know who has said what. So please rest assured that your identity is well secured, well protected, and it is not revealed to anyone of the instructors or in fact to anyone because the mechanism of the survey, of the anonymous survey, only tells us whether somebody has submitted the survey or not. That way we can find out those who have not submitted the survey and therefore we can disqualify them, but who submits what is not known and not connected in our database. So please feel free, give your truthful, frank opinion about all the questions. This is of course a slightly elaborate survey, so it will take you about 10, 15 minutes of your precious time, but do spend that time because we need to understand from you at the field level, at your level what has been the advantage of this program and if there are any shortcomings, suggestions from you as to how we could improve it. We will use this feedback and design the subsequent offerings later. I'll request all remote centers if they have any questions to Ravi, please go ahead with that question and make maximum use of the quality type which Ravi has been so graciously spending with us. I can already see one question mark there and over to you Ravi. Thank you very much sir. And thank you so much. Thanks, thanks a lot. Thanks for stepping in. Okay, so let's go over to the college which has a question and I think, okay, so we are at IERC, I am Institute of Information Technology, Barney Please. North, 24 Pergunas, West Bengal. I have a question on time management. Time management. Okay, I will go with my worldly wisdom on this my friend. I don't know if it is applicable in your life or not. Generally, it is believed that the 80-20 principle or the Pareto principle applies to most of these things in life. For example, I would love to believe 20% of intelligent people drive a good number of initiatives that are beneficial to the 80% of the populations, for example. I mean, it's just an example. Another example could be the 20% of the population that works in this country and pays taxes, for example, are beneficial to the rest of the 80% of the population. Maybe in our case, the 20-80 might actually become 5 and or maybe 3 and 97, that's a different story. But generally, the 20-80 or 80-20 principle would ideally apply, is generally taken as a principle that works in most of the things in life. Another example you could go by is in organizations as well. If you really look at the kind of jobs and roles that you normally have, it's a pyramidal concept, which essentially means a good part of the pyramid at the base are the people who work. Work hasn't delivered the transactions, that is what the customers require, so they are in direct interface with the customers. But when you go up the ladder or the pyramid, you would see only one CEO. The one CEO then works with the next layer of management, which is a very small little population. So you could say from that perspective that the 20% of the managerial population really works with the 80% of the larger worker population, worker as an employee population, populations of people who deliver services to the customers. So 80-20 applies there as well. When you look at your own cells, your colleges, institutions, schools, etc., there would always be the 20% or maybe 10% or maybe 5% of the population that really gets the cream and the rest of the population might actually end up with the milk. So what I mean by that in English is all of you have landed up in your institutions wherever you are because you are the best in your schools, in your colleges. That is the first time when you actually see there has been a normal distribution. The Pareto principle can also be constructed or may be understood from a normal distribution curve. But those of us who understand that a normal distribution curve essentially means if I were to take this notes back again here, for example. So if I were to then look at the normal distribution curve, typically in most of the cases, you would find this is how many of the populations distribute themselves. Now here is the deal, 10%, 10%, 80%. Now what I mean by this is more normally than not, the 10% were the laggards. Laggards as in people who could not do well in life or who could not do well in your school. They were the people who ended up with maybe less than 35% or 40% of marks, for example, and they could not get into institutions like where you have landed up, for example. This top 10% are the people who have been really good at what they or may be the best at what they do. I am just using these words, but please do not read them literally or say good. So you would see that a larger or a maximum population in any given situation is normally in this area, whereas only 10% end up being the best and 10% you would most normally lose out. Now that does not mean that this 10% will not be successful in life. It is just that given that scenario, given that situation, given that stage of life, compared to the rest of the people, these were laggards. And then eventually they will also find something to do for themselves as a different story. This 80% will ideally in that given situation will continue to do what they do good and they will have a consistent life where they would be good at doing what they do and they do that consistently well. This is typically that population which will soar in life and that is very normal in life and that is the reason this is called normal distribution curve, which you might want to like to say the Pareto principle as well. But that is again very situational. Every situation will have a different normal distribution curve. So because you were the best, you landed up in these colleges. Now the question is, there are 75 institutions on this call, on this conversation. Out of these 75 institutions, when corporations come to your institutes to select you, obviously all of you will not get selected. Even in your institutions you will have an 80-20. In each of these institutions put together you will have an 80-20. So only the 20 will go into the corporations. The 80 may not. Then eventually the 80 will also find themselves elsewhere. But the thing is, the best will get to where they have to get. That applies to all walks of life. And when you get into corporations, then again the 80-20 applies. Only the 20 will get the promotion, the 80 will continue to get the or continue to do the rest of the jobs. So it applies to every walk of life. And I would see 80-20 is a very generally talked about percentage or a ratio distribution. You could end up with a 90-10. You could end up with a 95-5 or a 99-1 as well. That is my short response to your very long question. Next question, next centre. Let us go to Perumal Manimekalai College. We will be back again. Lady. If there is a conflict between top management and a lower level and being intermediate persons like a manager, either they have to support for employees or management. Most of the people, they will be supporting for a management. And what are the presumptions that we have to tackle being at rights that has to be adopted by the leaderships? Can you just list the tactics and some perceptions before that situation occurs? Sure. Okay, good. Wonderful. I thought I would talk about this. I had this as a part of my notes as well. But I am glad you bring that up Madhumita. Thank you very much. In organizations, particularly corporate organizations and every other organization, even in your college, in your college, the people who teach you are obviously called teachers, professors or whatever you would want to call them. Even your college as an organization and every organization that we know in life including kingdoms, empires, social organizations, shops, establishments, family. In every organization, you have what is called power and politics. Do you agree or do you agree? Yes. Even in your family, there is power and politics. Would you agree with that? No, but power, it is okay, fine. It is some sort of responsibility. Okay, let me ask you this question then. When your mother has to get something out of your father or maybe when your mother has to get something out of you or your father has to get something out of his wife or you as his daughter for example, there is a lot of influencing, there is a lot of conversations, there is a lot of bullying, boxing and I am not saying typically in that sense but there is a lot of these conflict and conversations that keep happening. Do they or do they not? Absolutely, it happens. Conversations or sometimes. Sure, I am not saying they will prolong forever but the thing is the very fact that conflict exists is also a phenomena in most institutions and organizations including family. For example, right now as I said shared earlier I have a 16-year-old son and a 14-year-old daughter. Now, there is often this conflict between my wife and I where I believe that my children can become what they want and studying or scoring marks is not the only thing in life but my wife would love to believe that scoring marks is important because otherwise you will end up as a nankampoop. Now, this is the conflict, this is a live conflict. Now, how do we resolve this conflict? And this is very similar to the kind of conflict that you are talking about in organizations where the top management wants something, the worker population or rather the larger population needs to be convinced about that and you are in the middle, you are the manager for example or how do you see yourself as your role for example. Now, similar to this conflict situation in the family or maybe in the other institutions for example, in a corporate institution or in an organization the top management is defining what the objectives of the organization are. For example, the top management says this year Professor Fartuck who was here just now Dr. Fartuck talked about top line and bottom line. So, the organization at the top decides this year we have to crack 1000 crore revenues, 1000 crore rupees. The bottom says in order to crack those revenues the top line that is we need 1000 people but the top management says no I cannot give you 1000 people to crack 1000 crore rupees revenue I can only give you 500 people to do that. Now, the trouble with the management in the middle the people that you talked about is to really translate that strategy and execute that at the bottom. So, you are typically what is called a sandwich layer. Sandwich layer means you have to translate the strategy from the top and get that executed at the bottom. It is not an easy job, it is a very difficult job and the reason why you would gravitate to believing that the top management is right or you will need to deliver on what the top management is saying is primarily because the business has to exist the business has to survive. If you do not crack 1000 crore revenues will these 500 people survive? Will there be business? Will there be a company? So, what is the choice that you have? The choice is either you go with the 500 people that you have at the bottom to crack those or to get those 1000 crore revenues or negotiate with the senior management or top management and say boss this 500 people cannot deliver it may be 1000 people may not be required but can we at least have 600 people? I am just giving you a very practical live example that I see in my organization and many other such organizations every day. So, if you go with the bottom where everybody is saying we need more people we need more people the question is more people means more costs. So, you crack those 1000 crore revenues 1000 rupees 1000 crore rupees revenues but if that is resulting in an increased cost for you then you are not making profits. So, as a manager and that is the reason why I said we want to where you know become a superman and where your clock at the clock at the back and fly it is not an easy task to be a manager it is not easy task to be a leader at the top as well by the way the CEO I do not know if you have heard this English proverb which says uneasy rests that thrown which has a crown on its head which essentially means the king or the queen or the person at the top always is very uneasy it is not easy it is not an easy thing in organizations it is always very difficult to be at the top and we all think you know the CEO's lead a very sleepful and a peaceful life no it is not true if something happens to the business the first person to be sacked the first person to be you know to be asked to go is the CEO so the question is to add to your question why would the middle management or the managers not do what the top management is asking them to do for example I work with a company which has 250,000 people worldwide 250,000 people that means 250,000 people 250,000 people and everybody had an opinion about how to run the business then we will not be where we are for example J.P. Morgan is a 100 billion dollar top line company every year for the last 6 years despite economic troubles et cetera et cetera scenarios in various parts of the world we have still been making 100 billion dollars now how are we able to do that because there is a CEO at the top there is an able management at the top which is defining the strategy for the company there are middle managers who are executing that strategy there are people at the bottom who are typically serving the customers so that we make money and when we make money there is a whole lot of constituencies that get benefited by that number one it's the employees who get benefited by it because the employees take back bonuses every year it's the customers who get benefited by it because with the money that we earn we also innovate when we put back into the market innovative products innovative services for the customers the customers get benefited the biggest beneficial fishery for any business is always the shareholder or the investor for example there is a whole lot of investors shareholders that each of our companies that we operate or that we work in for example for JP Morgan we have quite a lot of shareholders that we have and our duty as a business is to be able to return to the shareholder the returns on the investment how many of us know about I mean I know the financial literacy month and the session is going to be very soon but the question is very simple every time you invest in stocks why are the Indian stock markets going so high and so up and including the rest of the world markets as well if you follow the financial markets for example Dow Jones is for the first time last week crossed 23,000 points on the index this week the sensex crossed 33,000 for the first time Nifty is doing 10,300 points on the stock exchange now why am I talking about this I am talking about this is because each of the companies that contribute to the shareholder well shareholder value employee benefits employee well-being etc etc are the companies which have a very clear vision the leadership at the top is able it is able to really see what is going to be in the future and these companies have set the strategy so that everybody in the company executes that strategy to the point short answer to your long question is it is important that we have a unified vision in an organization whatever the top management decides or disciples is something that we would all love to follow in the organization because if you have any divergent thought if you have a thought different than the senior management you can always voice it no problem as long as that thought benefits all these constituencies and communities that I am talking about Madhumita back over to you being a middle person unique situations can be adopted as what you have described in this since sir the question as a person in the middle you have to adopt to the situation at the top is that what you are saying you know what just you have summarized the answer writes up with some examples from that what I got is middle man being a unique adoption of situations can be executor to that managers is it what you are going to convey that's correct so one of the skills that I wanted to talk to you about is called adaptation and this is what I had written down this morning as well if I was coming here so these are some of the other qualities which we have not talked about until now of a good leader innovation mindset which means I am thinking every day when I get into work what are the various different things that I can do today and if I have to do the same things as yesterday how differently am I going to be doing that so the innovation mindset innovation thinking is a very good skill to have or a quality to have then curiosity in English language as we know we describe curiosity is the ability to ask questions the thirst to know more acquire more knowledge how do I challenge myself intellectually so how am I always asking these questions if this is happening why is this happening if this has to happen how can this happen so some of those questions that we create in our own mind creates a curious mindset so innovation mindset curiosity mindset and adaptive mindset so I am glad you talk about that mother with her because adaptive mindset essentially means how well am I adapting to the changing situations around me changing environment around me and I talk to you about the change management process before we went for the break so the question is from the point where I detect changes happening in the market in the environment from that point where I say hey you know what this is not happening with me I deny it so it is from the denial mode to anger to frustration to bargaining to acceptance to moving on the question is how much time do I end up spending there the quicker or the faster I am able to move the faster I am able to adapt to that change and I do not have to say this Charles Darwin has said this 500 years before me survival of the fittest the people who are able to adapt fastest are the people who are able to survive the max I am sure you all agree with that so think about that so three things that I have just spoken about and these are important innovation mindset curiosity mindset and ability to adapt fast so these are three things that will always hold us at good qualities as a leader I would also like to throw in when I was talking about change I would like to throw in a term that you would hear very often when you step into organizations the term is called WUCA V U C A V volatile U uncertain C complex and A ambiguous now let me try and explain that in English volatile every day you see change happening in the world around you in the larger world economies, environments family, institutions whatever you think of these changes this is volatility for example the world is volatile every day in the morning when you wake up you hear something new that could possibly imbalance the way you have thought that the day is going to go for you in places like Bangalore for example you take 4 hours to reach from your home to your office that is volatile because the traffic in the city is going from bad to worse so think about how volatile such situations can be uncertain what is uncertain what could that mean for us not sure not sure I am not sure so how the day is going to go so I wake up in the morning I want to get to office by 9 o'clock for example and then I suddenly discover the roads that I need to take have been dug up so what do you do and the trains that I need to take to get to work there is a motor man strike for example and the trains are not moving so some of these things could derail you volatility, uncertainty complex and then you have the ambiguous world ambiguous world essentially means there is something that is being said exactly something else that is happening and this is typically very true of say these stock markets for example I do not know how many of you follow stock markets or maybe any other uncertain or the ambiguous chain that you see so the question is do we understand this ambiguity and complexity that is happening around us and maybe closer home do we understand our educational system for example for each of you who are students do you understand how complex or maybe how ambiguous are educational system we all are very adept at what we call I do not know how many of you seen three idiots for example the movie in which we know all our lives all of you for example have been just writing and writing and writing and reading and reading and reading exams for example for exams how many of us do really acquire the knowledge or education for the sake of acquiring a knowledge or education for a betterment of our own lives for example so think about how this is really helping us helping the rest of the world so think about how this Bukka world or we you see a volatile uncertain complex and ambiguous world is really going to help and impact the environment around us and the environment around a host of people around us in the environment think about that I know we are all young impressionable minds in the various institutions that we have and I think it would be a good idea for us to think about what is the kind of impact that we can possibly make positively to the rest of the environment I know that is a very short answer to your long question I am dating with the technologies that we have learned from seeing each the part so what is the profit and some changes that has been dropped in previous so before that we have to analyze what has been done occurred in that current scenario regarding the changes if it is not sure either in the case of certain so we can predict what is coming to happen in case of uncertain the surety is not given either like finance NFT as you said so yeah so what is your question the question is you said as a voluntary so I am asking how it regards okay so let me try and get your question so as a citizen of this country how does my voluntary contributions help the environment around me is that the question yes okay I think whatever we do as citizens of this country whether paying taxes for example or paying or voluntarily servicing communities that we live in and work in all those are going to benefit the rest of the society not just us for example if I go and serve in a non-governmental organization during my personal time that impacts the organization or the larger environment for example as Dr. Fadak said just now I am here today on a Saturday this is my personal time as in we do not work on Saturdays and Sundays or I do not in my organization for example but I am here to talk to you folks so this is something that I am doing voluntarily and I am hoping some of these thoughts that I am sharing with you are going to benefit you so I think we all do what we do in our own lives and that really benefits a good number of people around us and the environment so while I talk to you about Vuka there is one more thing that I would want to leave with you during this conversation today and that is the Pestel now let me explain Pestel in English to you it is an acronym and you might want to take notes here so Pestel stands for political environmental social technological legal the first five things that is political environmental social technological and legal to your earlier question Madhumita when you are a middle manager or when you are working in organizations it may be a good idea that you think about all these things that are happening in your environment while there is a Vuka world volatile, uncertain, complex and ambiguous there is also all the awareness about power and politics in an organization is important for us to understand through the Pestel acronym what is the political environment in my organization what is typically happening in that environment and what is changing what is shifting who has got the ability to help me etc etc technological or social social changes would essentially mean who are we hiring in the organization from what communities are we hiring from which institutions are we hiring from what skills are they bringing what is changing in the social landscape etc technological changes which is increasingly becoming a very important thing for us to know as we move into the future then you have legal changes that may be happening inside the organization for example banks and many other organizations which do business have to operate under a hugely regulatory environment for example regulatory environment means for banks particularly the regulator in India is Reserve Bank of India you understand what a regulation means regulation means the governance governance means how should the businesses be done everybody cannot do business the way they would want to there has to be a governing body and that governing body for banks particularly in India is the Reserve Bank of India for example in the telecom industry you have regulatory authority of India TRAI then you have in insurance industry you have IRDA insurance regulatory development authority for example and similarly in each of the industries there are regulatory authorities and those help you do business in a very legally and in a regulatory way so and knowledge and an awareness of the pastel is really going to help you understanding and doing business in a very ethical way so I think let us move over to another institution and see thank you Madhumita for your question those were very thought provoking and very intelligent questions thank you very much so we will move over to another institution so here is a bigger institution and I see a lot of people out there and I see this is the Walton Institute of Technology Sholapur in Maharashtra and we have a question there sir my question to you is that taking a reference change comes with adaptability and when we want to bring a change but people are not comfortable with that change there increases complexity so what should be done in that situation good question now the thing is adaptability as I had said and as I said I am not the first one to talk about this almost about 500 years ago and there is a lot of people who have talked about this after that but the thing is it is not very easy to adapt because it tests or stretches or comfort zone what happens is I am doing some things in a specific way and suddenly somebody comes and tells me you cannot be doing that the same way you have to change you have to change and adapt to a different way of doing things and this keeps happening in our lives quite a few times and every day probably for many of us your question was how do we adapt or how do we what are the qualities that we can possibly think of when we have to adapt or when we think of adapting the first thing that comes to my mind is an ability to be open minded about change and accepting the fact that change is going to happen and I have to be aware of what that change is how is that going to impact me at a personal level and at a maybe in an organizational context how am I going to be professionally impacted by that change for example for many of you in technology institutions you would know what robotics is or artificial intelligences or internet of things is so some of these terms are very colloquial for many of you when robotics happens robotics is typically good number of jobs or tasks or activities that human beings are doing are going to be done by robots now when that happens what is the change it is going to have on me if I was doing that job and suddenly there is a robot who is going to do that job my job or a part of my job may be my full entire full job is taken away now what can I do to be able to foresee that change that was your question before the change happens what can I possibly do and how can I really ready myself how can I prepare myself for that change so here is a phenomenon or a principle that I am going to leave with you ma'am and I think this has worked for me in life and I would love to believe you are fairly young you may not have seen too much of life or change the way you have or you would otherwise see in the near future but here is what I have seen in my life what I call the sigmoid curve now this is the third curve that I am presenting to you today I have earlier presented to you the change management process curve then the normal distribution curve now I am presenting to you the sigmoid curve now here is the deal in everything that we know in life there is always what is called a start point a slow slight little dip and then there is a zoom and lady you might want to sit down you may not have to stand all the time and then there is a peak and then there is a slump do you agree or do you agree now the question is even if you do not agree this is the truth it happened with the British empire it happened with the Russian empire it happened with the Greek empire the Roman empire the Mogul empire and every other empire to come in the future it has happened with corporations it has happened with firms it has happened with brands it has happened with people it has happened with carriers it has happened with your father it has happened with your mother maybe your siblings and maybe friends around you without the knowledge of your sigmoid curve now what I mean the sigmoid curve and I will put this back again here on the frame. Now, in the sigmoid curve typically you start off and when you start off at this phase you think you have you are doing a great job and then you would want to you have your goal set for yourself and a good part of the progress initially may have a slight bit of a dip. The dip is primarily because you are still learning and you are not certain whether it is going to work for you, but largely you would love to make that happen and then you soar and then you soar and then you soar and then you soar and then you peak and when you peak obviously the next thing is you slump and it is true for everything in life. Now, the question is if you do not want to slump and nobody wants to slump honestly because this is where we all hate these situations. Here we love the situation because everything is going good for us. We are being told by everybody around us including our friends and our enemies that we are God's gift to humankind. We are the best thing to happen to the world and everything is going good. Now, the question is there is hope if you do not want to slump. This the hope is you can evolve another sigmoid curve before you hit the peak and that is here. The question then becomes if this is point A and this is point B and this is point C, why would you not evolve for another sigmoid curve at point C or point B and why only at A? Any answers, any thoughts in your mind lady? If I want to evolve a new curve from any of the three points is it? Yes, the question is why would you evolve the curve only at point A and not at point B or point C? Saturation because of the saturation. C is at the end point of the curve. Okay, so what happens here at the end point of the curve you have already slumped so what's happening here? Where is your energy? Is it high low point C? It is coming to an extension low. Yes, again going down. Yeah it's going down because your energy is down you have lost a lot in life in terms of maybe money maybe energy maybe whatever else and at point C it becomes a little difficult for you to change because everything is telling you hey you know what this is not going to happen whereas at point B you could still change but what's happening at point B? Why would you not change at point B which is at the peak? Why would you not change there? When I'm on the peak there is a certain time I'm stable but after a certain time again that peak is decreasing to point C so there is a possibility of low point again. Sure, so at the point B you are very comfortable everything is happening good for you there is nothing that is telling you no indicator which is telling you that you will go down the slump but the truth is if you stayed there you also might get complacent at point B. What that means is I'm complacent I'm in my comfort zone everything is convenient and comfortable I do not want to change and if you do not want to change this is typically what's going to happen you're going to go to point C okay at point A and if I were to take a green color for example so here is the deal at point A I have all the energy I know I have not yet peaked so I'm still waiting for the best to happen to me and I have evolved another curve I have evolved another curve to pick up a new skill a new knowledge new way of doing things and I know I can manage that change because I'm preparing for the next thing I have not yet peaked on my current thing but I'm preparing for the next thing which is always a good thing to do because you never know after you peak you always know that there will be a slump but in the next life or the next curve that you have evolved there is a possibility of doing new things a new life and then obviously you will continue to evolve this subsequent sigmoid curves as you grow into your future so my submission here my my challenge to each one of us in this room is look at evolving your sigmoid curves every now and then whenever you get the indicators from your environment that the environment is going to change so evolve your curve whenever you think there is a big change that's going to happen technologically politically legally financially for all that you know you might want to think about how do I prepare myself by evolving the next curve but it's not always going to be easy if you go back to the curve because you already know that you are comfortable in your current skills and knowledge why would you want to evolve another curve and this is the most difficult part this phase where two lives are living together where one curve is telling me that I have not yet accomplished my peak and another curve is telling me that I'm still at the maybe at the lower lower part of the curve and then I have to really work it out so think about how you would want to prepare yourself for this change and that is the essence of the sigmoid curve and I am not saying this today in 2017 this is something that you all know it's just that today you know that it's called a sigmoid curve each one of you have been living your curves many of us who have joined this institution wherever we are we would have evaluated quite a lot of things before we joined there and maybe we may have gone through this particular trough and then got into the crest so think about how you would want to evolve your sigmoid curves at various stages of your life to answer your question short answer to your long question lady thank you sir I always say this your questions are always longer my answers are always short thank you very much sir my question is related to leadership so sometimes the there comes a situation that in the members with whom we are working together sometimes it happens that one of the members he's doing something good so every time I have to give a chance to come at front or to do something extra and because of that other members they feel like inferiority complex or like that so what should we do as a leader in that situation okay what's your name please sir Shreya Jain so Shreya to get back to your question about what if one of my team members performs at a higher level and obviously he or she is doing better than the rest of them that person deserves more than my praise my recognition my rewards my money because at the end of the day somebody who performs better you would reward that person with a little more increment maybe or bonus or whatever would you if you run your if you run your own business for example and if some people are going to deliver you more revenues or more hard work you will want to reward them more than the rest yes sir so yes sir there are various mechanisms with which you would obviously reward that person and make that person happy but then yes your question is what are the rest of the individuals see again somebody asked me this question around Pareto principle 80-20 so in any organization in any team you would always have your 80-20 20 people will always do better than the rest of the 80% so your reward mechanisms your ability to recognize them provide them more obviously if I have say at the end of the year when I know there are five team members in my team and I have hundred rupees to give them as bonus for example would I give hundred rupees divided by five that is 20 rupees to each individual would you want to do that no sir yes sir actually I wanted to but sometimes it happens a situation creates that a person is doing better than others then I have to by forcibly or anyhow I have to do that so that he can be he is motivated and he's good keep going on like that sure so that's the reason why I'm saying you will never give 20 rupees to everybody you would probably give 40 rupees to your best performer you would give 20 rupees to your average performers and maybe 10 rupees to somebody who has not worked well or may not have met your expectations or he may not have or she may not have delivered to the achievement of the goals so obviously in that process there's somebody who's going to be extremely happy there's somebody who's going to be extremely sad because yes you have not equally distributed the money but you have equitably distributed the money the difference between equal distribution and equitable distribution is if I were to do an equal distribution that means I give 20 rupees to everybody but if I were to do equitable distribution which means I pay the money or give the person the money according to the equity that person brings to the table which means the amount of hard work that he puts in the amount of ingenuity innovation or various different methods with which that this person you know does the job etc etc those are some of the things that we would as business leaders we would like to focus on now in this process obviously the people who are not who have not got the 20 rupees and those who have only got either 20 rupees or 10 rupees will always be sad now that is the reality of life and that is something that you will have to manage through a lot of conversations and motivate them so that the next year or in the future they will want to really look at better performance and aspire to earn 40 rupees instead of just 10 rupees or 20 rupees so the motivation as a leader that you provide them they influencing for them to perform better etc etc are something that you would want to do as a leader you have to do that thank you sir thank you sir my question is related to leadership itself as we had seen in the morning session we were taking the examples of family organization so is it important that in the family we are only giving the leadership quality or referring as a leader to one person because everybody is a leader in itself I believe so we can give an example of a leader according to their roles to anyone so is that is it that there can be more than one year if we want to refer sure so that is the reason why you have what we call the situational leadership which essentially means in every situation there is a different leader that comes up for example of course the concept of situational leadership is very different when we and that is another entire full day that I can spend with you talking about it but the idea is in the family itself you would see that there would be a specific situation in which somebody would rise up as a leader for example it could be you or it could be your brother your sister I don't know how many siblings you might have or maybe some of your cousins or your other relatives etc depending upon the situation whosoever can best resolve a problem in that situation always becomes the leader and that is also called natural leadership you may not always think that in every situation your mother is the only person who is going to have all the solutions or your father for that matter so likewise you would see in organizations as well in any given team you would always have various people who have different levels of thinking now when that happens you would see that in various situations various individuals variety of thinking emerge as leaders so from that perspective what happens is you will see that each situation would demand or ask for different sets of skills and whosoever possesses those skills as strengths are the best people suited to that problem resolution in that situation so you would experience that when you work in teams in organizations lady sometime in the future but I am sure you would have seen that in your family as well and some of the aspects around the way we know leadership today for example you would see much of the studies around leadership emerged sometime immediately after the world war two and after the second world war good part of the western world particularly America was building up its economy it was building up the country and you would see a lot of these brands that you know today had started coming up at that time during early 50s for example now when you look at some of these situations and when you look at the various geographies in which some of these industries came about the thinking came about etc one of the first studies in leadership was taken up by two gentlemen by the name Ken Blanchard and Paul Hershey now these two people the situational leadership that I was talking about a while earlier are the authors of the situation leadership theorem was theory now they had started off these studies in corporate America the way we know corporate America at that time early 1950s they put everybody together in a room and they asked the people what are the characteristics of a good leader so I want some answers here if I would have really look at some of the characteristics that came about and just imagine this was 1950s early 1950s the world was just out of the war out of the woods hopefully to a good extent then we put some of these people inside a room and asked them what are good qualities or characteristics of a leader these four characteristics came about and it would amaze you when you hear about this in 2017 male tall white and number four was military orientation I wouldn't be surprised at that part because the world was just coming out of the war and military orientation or doing things in a very regimented way in a strict process way etc etc was one of the four characteristics but the other three characteristics if you look at it and obviously they had not invited people from the rest of the world so it was only Americans there so and even in that white tall male now these were the characteristics of leaders 1950s and then when you look back over the last almost 70 odd years you would now imagine what the world has come to from a leadership standpoint and how diverse leadership is today described as so to come back to your question who emerges as a leader in your own family you took an example of how your mother emerges as a leader in some situation how does your father emerges a leader in some other situations depends entirely on what the situation is and what kind of skills or strengths or mindsets each member of the family brings to the table for example in my family I would love to believe since I married 20 years my wife is always the leader in all situations I am just joking okay so think about it you could be a leader yourself depending upon what strengths you bring to the table thank you sir for whatever you said thank you I don't know if it made sense to you but this is what I believe thank you thank you very much so I am now joined by Dr. Virender Sethi my good colleague and friend from the Indian Institute of Technology so sir please welcome let's go to Sagar if we can 1 to 9 to I want to know what is the basic difference between boss and a leadership leader and boss okay good question so in your life until now for example your what 20 years of age I would imagine so have you had a situation where you had a leader in your life and a boss in your life the way you see the difference in any of the things that you have experienced I have experienced my leadership in various in my home and family and in school and sometimes in some function of college I want to know the basic difference in my boss and leader okay so on a lighter note let me ask you who is the boss in your family amongst your mother and your father and who is the leader that I don't know but it's a political it's a political question so I hope your mother and father are not watching on a more serious note so see a leader is somebody who is able to influence you to do what he would like to do or she would like to do for example there is an objective or a goal in in our life and probably in your scheme of things in your studying in an institution and in your scheme of things your college or your institution would like to host or would like everybody to ace in your studies for example and on a CGPA you might want to everybody might have to end up say at around 8 plus or 9 plus or whatsoever now that is obviously not possible for everybody to score and there is obviously going to be a normal distribution or a Pareto somebody was talking about so 80 percent of the people would normally be between 6 and 8 or 6 and 9 CGPA and somebody will be outside of some percentage of people will be outside of 9 CGPA and somebody it may be below 5 CGPA as well now the question is in your scheme of things in your institute where you have your professors you have your teachers and all for example how many of them really motivate you to get to that 9 CGPA for example and how many of them coerce you or push you or bully you for example that you have to get that 9 CGPA otherwise you are nothing for example so typically a leader helps motivates inspires a leader influences for you to perform better a boss gives you a danda all the time to perform better so that is typically the way I have experienced the difference between a boss and a leader you fear a boss but you respect a leader if I am told by my boss you have to do this come crook by hook crook whatsoever and you have to do this by tomorrow afternoon or whatsoever and otherwise I'll be penalized for example I may not do it because I missed or I may still end up doing it because there is a disincentive or there is something that I am going to fear but if I do everything that I have to do in my job from a fear perspective then I do not respect that person as my as my leader but if my leader were to tell you hey Ravi if you were to do this there is this incentive for you or there is there's something that is going to come your way which is going to be better for you I might actually be inspired or motivated to do it so the essential difference that I see between a boss and a leader is the leader inspires and motivates you the boss gets work done out of you done from you but more from a fear factor rather than a respect factor thank you thank you one question yeah okay one more sir if in my society I was the leader so for example sir I was placed as a in company as a leader as a boss and I play the emperors it as me as a leader but when I went to my home and I say I was a leader they asked me I say I was a leader I say in Hindi I was a Neta it means that Neta if I say boss that has a different meaning so what's your question my question is that it is a mentality the leadership is Neta giri or something else okay well yeah it but what about your political family say okay no sir generally just just on the lighter note on a more serious note well Neta giri has leadership in it but all leadership may not be Neta giri which means for example most normally Neta giri is associated with politics most normally so the idea is Neta giri the way you describe it may or may not be the right word to use and even if it is used there's nothing wrong with that but in organizations where everybody works together everybody contributes to the larger cause and the objectives and the goals of an organization Neta giri normally would be seen as a negative connotation it has a negative connotation because in Neta giri Karra is not helping the cause of the organization so the paramount of the first and the most important thing in any organization is the goals and objectives of the organization and if everybody is contributing to that it's a good organization say well and it's a well maintained or a well developed or a healthy organization but if there are people who do the Neta giri for example the way you describe it it could be very detrimental to it could be very it could be pulling down the organization in the objectives then nobody is happy neither the CEO is happy nor the shareholders are happy nor the customers are happy nor you as an employee are happy and eventually the organization will come down close down and you as an employee will not have a job for example and I'm just taking a corporation or a corporate organization so Neta giri has both positive and negative connotations but depends on the situation thank you thank you very much I think let's come back here to this room and you know we just feels like we started interacting with you yesterday and we've already had four face-to-face sessions in this soft skills module so I want to take a minute to say thank you thanks to all of you for participating okay we got our fulfillment by interacting with you and I do want to acknowledge the entire team here the production team here the coordinators at all the remote centers and all the you know we will never ever know all the work that everybody did in the background that actually made it possible okay so we as professor Farrak had said this is a pilot run and I think we have sufficient experience sufficient feedback and absolutely no doubt about the fact that you have inspired us that we will put in more efforts to take it to the next level okay so I want to thank you for thank all of you and coordinators if you were here you should you know hear a big big clap from me okay and all of us yeah alright and thank you to all the participants I do want to take I know it's almost one o'clock but I do want to take a couple of minutes for you to claim what you have learnt okay I think it's important because we do this in our class all the classes all the time that at the end of one piece of work so if it's a one-hour class we stop after 50 minutes and say okay in 10 minutes I want you to think about what is it that you learned and you don't walk out of the classroom without acknowledging your claim of what you learnt okay so I think I want to give you a couple of minutes to talk to each other and go over the entire last few weeks all the videos you have watched all the quizzes that you have carried out and you know the interaction that you've had to take a look at what is it that you claim that you have learned that your time was well spent and that you are walking away bigger human being than before you started this entire exercise in this effort okay so please take a minute or so and then I'll have two interactions two interactions in which I will ask you to acknowledge what you got out of this entire training module okay so I'll give you a minute I will be quiet for a minute take a minute talk to your partner and then I'll come back to you to take a minute talk to your partners please alright Balchan Institute of Technology Sholapur right yes say hi everybody alright I request one person to please stand up and share what is it that you claim to have learned on this course lot of things which was not familiar like how should we be going to GDN communicate with others and that how the whole company works like how that workplace we should handle out there how should be our attitude towards the all members that we have learned from you so was it useful for you yeah okay so if it was useful so how many for how many people at Balchan people I can see please raise your hands if it was useful so here's what I want to say what I want to say is thank you for doing the work so that it was useful for you thank you very much for doing the work okay big hand for you okay thank you very much yeah alright thank you Balchan we'll go to the next center now Gitanjali one of you please share what you came to have learned sir I have learned so much in these two months I have so much also I'm getting to expose myself to the world as more than the time that I have started this course and I'm learning so much things like I have got interview skills and I'm ready to face anything which comes to me now and I'm confident that I can take any challenge that comes in my way and I can put as my maximum of words to make it possible and that is go through the challenge and solve it and now I can talk on the stages without fear fabulous I have learned this I'm getting to in this course I have learned who is me also that's a thing which has gained much more than anything big hand for you big hand for you thank you for doing the work okay there are much more things that but time is not enough to tell so how many people in the room you know at Gitanjali how many if you got value please raise your hand okay so again I'm want to use you whatever I'm saying to you right now I'm actually communicating to everybody in all the centers across the country okay whatever value you got you put in the work and therefore you generated value okay I want to thank you for doing that and I want you to know that we appreciate that you have given us an opportunity to interact with you and to be of some service to you okay so thank you very much and on behalf of Professor Fatak and the entire team over here so with that I want to say thank you very much okay pleasure being with you and we hope to see you again sometime bye bye thank you so much