Posts Tagged ‘professional’
Needs Versus Wants For Entrepreneurs
How often do the words “I need” come out of your mouth, as it relates to your business? When you run your own company, it’s easy to think that the only way to succeed is to be moving forward with your expenses — the newest technology, a broader circle of professionals providing you services, involvement in more and more costly marketing efforts, etc. And it’s particularly difficult to resist the urge when you know you can generally take a tax DEDUCTION for any business expenses. But did you ever stop to think how many of those requests are actually needs, and how many are simply wants?
WHAT IS A NEED?
Let’s start by defining “need.” In the strictest sense of the word, a “need” is something that you have to have to get by in this world — a NECESSITY. In your personal life, you need food, shelter, clothing, medical care — the basics. You will probably experience physical suffering of some sort if you don’t have your needs met. In your business, you also have some basic needs — business cards, basic office equipment and supplies, a scheduling and follow up system, involvement in some networking activities, and generally some professional development or continuing education for your field. You can’t run your company successfully without them. Depending on your area of specialization and experience, some assistance with accounting, legal, or other professional issues might also be considered a “need.”
A want, on the other hand, is something that you desire — something you would like to have. But by no means will you suffer in any way (except perhaps mental anguish!) if you don’t get the thing you want. “Wants” quite often fall into the category of LUXURIES — nice to have, but the world won’t end without them. Having a computer that could keep Mir running or an Amazon.com quality website certainly fall into this category. But other items could be considered wants, depending on the type of business your run, your customer base, and the level of product or service you provide.
MAKING THE DISTINCTION
The hard part comes when you live in a prosperous capitalistic society, like ours. The “western” standard of living is so high that even many of our poor tend to live above the level of basic needs. In 1998, 97% of “poor” Americans (as defined by the Census Bureau) owned a television — something that could definitely be considered a luxury. In many third-world countries, less than 30% of the population even has access to electricity — which most westerners would consider an absolute necessity. My intention is not to make anyone feel guilty — it’s simply to point out that the distinction between want and need is often RELATIVE. It depends on the area in which you live, the company you keep, the lifestyle you choose, and the expectations of the society around you.
It is also important to have some PERSPECTIVE about your place in the world marketplace. If you are running a small business, the goal is not to become a multi-millionaire in the first year — sinking every penny you can get your hands on in your company, without an eye to the future (look at all of the dot-bombs in the early 90’s). You have to start out slowly — growing responsibly and spacing out your business investments as your revenues increase. At one point in your company’s lifetime, having a staff person to handle administrative duties may definitely be a luxury — but farther down the road, it might well become a necessity for you to handle the influx of new customers. On the flip side, you might make some changes in your business structure that allow you to let go of staff, reduce your need for expensive technology, or decrease some other expense. This is why it is so important to constantly RE-EVALUATE your needs and expenditures — to make sure they are still in alignment with each other.
THE POWER OF ADVERTISING
We are influenced, every day, by the popular culture around us. Television, magazines, movies, and advertising have all done a splendid job of PROGRAMMING us to think that we need a lot of excess consumable goods. Pretend that you are watching TV or flipping through your favorite business magazine and see an ad for something fabulous — the latest PalmXXII, Turbo, complete with satellite com link, scanner, global positioning system, and built in web server. Suddenly, your heart speeds up, and you get a tingly feeling in your gut. It’s perfect — how had you ever lived without it before? You rush right to the store — what?! You don’t have any left in stock?! Your heart sinks and you feel a rush of disappointment. You spend the rest of the day moping because you couldn’t find it anywhere.
Now, this might be a bit of an exaggeration, but it’s not far off the mark for some people. How often have you learned of a new product and were certain that you absolutely had to HAVE it? What if you had never seen the ad? Would your life be any worse off? It’s as if the knowledge that something exists causes the need for it.
KEEPING UP WITH THE JONESES
And, of course, we have peer pressure! But with the advent of the “global society,” the Joneses are not just the people next door anymore. They include business tycoons and techo-gurus and imaginary people on TV that don’t even really exist. But we hold these folks up as the STANDARD against which we should measure our own lives. Just because Bill Gates has an office that will run itself entirely through voice recognition, we think that our manual way of doing things is dated. And since that 24 year-old dot-com wiz profiled in Fast Company reads 23 business journals a week, we think we need to start subscribing too.
THE HIGH COST OF NEEDS
So why is any of this a problem? Let me ask you a confidential question — how much DEBT is your business carrying? Do you have several thousand (or tens of thousands!) dollars of past credit card purchases that you are still trying to pay off? Are you paying every spare penny you earn through your company each month to pay for your “corporate” lifestyle? How does your financial future look? Are you able to save for a rainy day — to put aside a reserve in case the economy tanks?
When your spending PRIORITIES are out of whack, you tend to experience stress, guilt, and anxiety — it can even affect your health. And just think about how many personal relationships are strained (even broken) over money issues. This can be a particularly sensitive issue for entrepreneurs, as the line between business and personal finances is often so blurred. Is that really how you want to live your life?
BALANCING NEEDS AND WANTS
Certainly, no one is suggesting that you give away everything you own and become a monk! But it is important that you strike a balance between those things that you have to have and the things that you would like to have. And it’s important that you be able to PRIORITIZE your business spending. The goal is to focus on those things that will really improve your efficiency, effectiveness, and bottom line — rather than just look flashy.
SO WHAT DO I DO NEXT?
Start by making a LIST of all your wants and needs. Try to be brutally honest about which category they fall into. Then, take a look at the items in your want list. First, ask yourself how much each purchase will IMPROVE your quality of life as a business person — how it will boost your company’s bottom line or build a base for future growth. Rate them with an “A” for a large improvement down to a “C” for a negligible improvement (and if it will actively detract from your entrepreneurial quality of life, cross it off the list!) At this point, don’t even worry about the “B’s” and “C’s” — if we get you to a point where you can have all of your “A” wants, then you can think about the rest.
Now, take a look at your “A’s” — try to decide if there is some way you can BALANCE between your high-priority wants and your needs. What are you willing to give up? Where are you able to compromise? Perhaps you can forego the expensive computer and make do with the one you have to afford hiring a PR agent to help increase your exposure. Or buy your office furniture used to leave enough room in your budget for that additional certification program you’ve been wanting to take. If you make these decisions based on how the purchase will improve your life and your business — based on your own personal priorities (instead of someone else’s!)– you shouldn’t go wrong.
Ramona Creel is a Professional Organizer and the founder of OnlineOrganizing.com — a web-based one-stop shop offering everything that you need to get organized at home or at work. At OnlineOrganizing.com, you may get a referral to an organizer near you, shop for the latest organizing products, get tons of free tips, and even learn how to become a professional organizer or build your existing organizing business. And if you would like to read more articles about organizing your life or building your business, get a free subscription to the “Get Organized” and “Organized For A Living” newsletters. Please visit http://www.OnlineOrganizing.com or contact Ramona directly at ramona@onlineorganizing.com for more information.
How Entrepreneurs Make Money Selling Global Brands On and Off-line
Did you know that thousands of companies from all over the world are looking for enthusiastic individuals to represent their products overseas? That person can be you. From Chinese toys to Brazilian bikinis people are making money reselling all kinds of products for a profit.
Don’t fret if you’re new to the Internet! Thousands of “ordinary people” leverage the Internet to sell global brands on and off-line. I say ordinary people as a reference to the rest of us, those who log online simply to read email, check the latest headlines, and to look something up on Google. Does this describe you? If so, you can literally start earning money representing firms from all over the world who are eager to establish contact with motivated entrepreneurs.
Having lived and worked in three continents, I can assure you that there are thousands of great companies with awesome products or services anxious to promote their goods overseas. Don’t be intimidated if you think you don’t fit their professional profile. You probably do and proof of that is my remarkable experience with successful representatives reselling Brazilian Bikinis.
–Case Study–
I often receive phone calls and emails from men and women all over the world wanting to know more about importing and reselling Brazilian bikinis. We get requests from students, single moms, shop owners, and entrepreneurs who work full-time but would like to make some extra money on the side.
–Getting Started: From Concept to Execution.–
Selling international brands is easier than you think! To help you better understand the process we’ve compiled a list of commonly asked questions that have empowered representatives to take the plunge and become successful international sales representatives. We list 10 questions you should ask your potential supplier but this shouldn’t prevent you from requesting more information.
–10 Questions to ask your Supplier–
1. Can I trust doing business with you in Brazil or a country I can’t even pronounce?
2. I’m worried about buying online. How do I pay for the goods?
3. Okay, now that I’m convinced that you’re a reputable supplier of premium brands, what’s the next step?
4. Which samples should I order? How do I pay for them and how much does it cost?
5. I find your prices higher than others.
6. What about import duty?
7. How much should I price your product in the market?
8. The samples arrived and they are absolutely gorgeous! What next?
9. The reaction has been positive. Friends and others want to buy. What next?
10. Are you flexible with payment terms?
Note: Answers to these and other questions can be found on our site.
Armed with answers to these and other questions you’re now well on your way to making money selling global brands on and off-line. Remember, the Internet serves as a powerful tool, as a means to reach your objectives. It should be used in conjunction with offline sales efforts in your respective markets. If ordinary people with little online experience can do it you can also.
Thales Panagides has an MBA in Entrepreneurship. Thales has 12 years of international sales experience having represented firms in Europe, the United States, and South America. He’s the founder of http://www.brazilian-bikinis.net/, a website that encourages individuals to embark on the entrepreneurial route by representing Brazilian brands, such as bikinis and lingerie, on and off-line.
The Worlds Elite Golf Courses
We all here different opinions of great challenging golf courses around the world, full of history and storytelling of great games and tournaments between the legends of the professional world. Every year we hear of new championship courses opening but in my opinion they have a lot to live up to if they want to stand alongside the old greats.
My favourite world courses with their own individual characters over the years
Augusta – USA Augusta is a stunningly beautiful course located in the American Deep South. Augusta is the home of the world-renowned Masters tournament. Beautifully designed with lightning fast greens, without a doubt one of the world’s best.
Ballybunion – IRELAND Ballybunion is fantastic links course situated in County Kerry southern Ireland. Well known for it’s towering sand dunes and cliff side holes running along the Atlantic. Stunning scenery surrounds this course but it is an unbelievably challenging links course. A fantastic welcome awaits all who visits.
Cypress Point – USA Just a stone’s thrown away from Mayor Clint Eastwood’s Carmel and John Steinbeck’s Cannery Row. A fearsome course for hard men. The Monterey Peninsula on the American west coast is a pictures location but certainly one of the most difficult golf courses to date.
Kiawah Island – USA Kiawah Island was only opened in 1991. Located off the south coast of Carolina. Kiawah was awarded the 1991 Ryder Cup between Europe and the USA. Fabulous Atlantic setting rich in marsh land and sand dunes. A truly terrific links course.
Kingston Heath – AUSTRALIA One of Australia’s greatest golf courses. Located only 25km from the heart of Melbourne and is perfect test for championship golf. If you like bunkers then you will love Kingston Heath. Your sand wedge will be the best club in the bag (even bring a spare). Scoring well here needs you at your best concentration level.
Muirfield – SCOTLAND Muirfield is located of the East Lothian coast in Scotland. A very flat links golf course that allows you play to your handicap. Most championship links courses are designed with only the professional in mind, muirfield is a very popular links course in Britain.
Pebble Beach – USA Simply one of the greatest golf courses in the world. Pebble Beach is located just south of San Francisco. A VERY, VERY challenging golf course. High winds play and important factor on your scorecard. Pebble Beach is adjacent to the rocky Californian coastline. Deceptive on every hole, beautifully designed.
Pinehurst No. 2 – USA A traditional style golf course located in North Carolina. This course has not got the man made features that other golf courses and is not stunningly located. Some people may think what all the fuss is about with this course. A very true saying, ” A good course doesn’t need glitter and glitz, Pinehurst has its unique unspoiled holes and will always be a favourite.
St Andrews Old Course ? Scotland St Andrews is the oldest golf course in the world. The home of golf itself. The date for which it was first laid is still up for question but we think somewhere in the early 1300’s. The course was designed around the natural hazards and still remains one of the worlds most challenging links courses today. Home of the Open Championship. St Andrews has four 18 hole courses but the old is still the best.
Valderrama ? Spain Opened in 1985 but has become one of the favourites with the golfing world. Set with breathtaking views of the Mediterranean and surrounding mountains. It has become one of the world’s elite in championship courses. As stunning as it may look any wayward shot will be badly punished.
The above list of golf courses is from my own playing experience. Of course there are many more out there such as Royal Birkdale, Turnberry, Druids Glen (Druids Glen is based in County Wicklow Ireland and will be host to the Ryder Cup 2006) and so on that should have a mention, however I only speak from experience.
What makes a great Course?
The key factors:
· Good Architectural work to start
· Designed with the input of a professional golfer who knows the game
· To work with nature and include natures hazards as apposed to removing them
· Good accessible location
· Excellent drainage on the land
No matter what your standard of golf is like from high to low handicaps we will share in the same excitement when we enter onto the first tee.
About the Author
Declan Tobin is a successful freelance writer providing advice for consumers on purchasing a variety of Golf Equipment which includes Golf Apparel, Golf Bags, and more! His numerous articles provide a wonderfully researched resource of interesting and relevant information for all of your Golf interests and needs.
Golf Industry Insights
The time and effort for due diligence prior to the launch of Prescription Putting has provided a number of insights to the golf industry. The following are some of the things that we learned and ones that help shape what we do here at Prescription Putting.
Over the last year, we have made an effort to learn the ins and outs and the pitfalls of this industry. The first caution was in the form of a joke. “Do you know how to make a small fortune in the golf industry?” The answer: “Start with a big one!”
Here are some of the facts.
There are more golf courses than ten years ago.
There are no more golfers than ten years ago.
There are fewer rounds of golf played than ten years ago.
The same number of golf clubs are sold each year.
Therefore the battle is for market share.
The profitability increase is related only to increase price of the club, i.e. cost of the drivers and putters up to $1000.00.
The industry is marketing (not market) driven.
New technology that makes a difference is not as frequent as advertised.
New technology does not always have foundation in fact.
New technology has little or no effect in reducing the average golf score over the years.
New technology may not have the benefit that is advertised.
The larger driver head has no larger sweet spot, just larger hitting area.
There can only be one optimal area by definition.
Independent testing is rarely permitted or publicized by companies.
Testing results always have the company’s bias.
New technology is rapidly copied by other companies, majors and minors.
Metal woods.
Ping Anser? putters.
Ping? perimeter weighted irons.
Shafts changed from wood to metal to composites.
The secondary industry for knock off clubs is rampant, in spite of legal challenges.
The battle for market share is fierce.
The industry focuses on market share battles; not necessarily technology.
The industry is marketing driven with little scientific foundation.
Tour professional’s endorsement sells the club.
A tour player winning one of the majors with use of club, sells the club.
Most of the designs are similar.
See 14 a, b, c above.
Most of the manufacturing is done by suppliers.
Most of the manufacturing is done off shore.
The retail industry depends upon the major companies to drive the market to them for taking the order.
The golf course professional expects the same marketing driven customer.
Retailers are rarely more than order takers.
The truly educational sale is almost non existent.
AT PRESCRIPTION PUTTING, WE DO IT DIFFERENT.
First and foremost: Made in U.S.A. assures attention to detail and confidence.
Second: Independent Testing. We want the truth. Don’t you?
Third: Provide new performance driven, confirmed club designs.
Fourth: Enhance golfer’s psychomotor skills.
Fifth: Bring enjoyment and success to our customer.
Prescription Putting was founded by Lanny L. Johnson, M.D. Dr. Johnson is an internationally recognized orthopedic surgeon, one of the pioneers in arthroscopic surgery. He is an inventor, holding over 40 U.S. and foreign patents related to surgery. The most notable was the co-invention of the motorized instrumentation used daily world wide, even now, more than 30 years later. The longevity of this invention is unprecedented in surgery.
Buyer Beware: Choose A Business Coach Carefully To Get The Results You Want
Consider this scenario. A colleague suggests you get a business coach. Via the Internet, you find one close-by. The woman says she’d love to help. She charges $300 a month for two 30-minute calls. It seems like a good deal, so you eagerly sign on the dotted line.
Next, you are sent to a website to learn your Enneagram type. This personality quiz doesn’t seem to connect with marketing your business. You call the coach. She says that you rank a “two” and that you’re trying to please everybody. She says that you should take better care of yourself. She says you need to take nature hikes, yoga lessons, and long bubble baths.
You have yet to get real business coaching. Sadly, this scenario plays out often, usually resulting from a lack of understanding on how to choose the best coach for your business.
In the past several years, coaching has become one of the most effective ways to cultivate the professional and personal skill-sets of teams and individuals. Coaching has proven results. Fast Company magazine reports that up to 40% of Fortune 500 companies hire coaches to improve their businesses. There’s a proven, significant return on investment. A 2001 study by the Manchester Review said that the output of executives involved in coaching programs averaged nearly 5.7 times higher than the initial investment.
But you must do your homework before choosing a coach. For coaching to work, it’s vital to have a basic understanding of a coaching relationship.
What is coaching?
Coaching is a conversation, a dialogue between a coach and a coachee. Through coaching, you will learn how to:
- Communicate better;
- Balance priorities;
- Make effective presentations;
- Better understand strengths;
- Identify new competencies needed.
There are several types of coaching to choose from:
Life coaching ? Focuses on inspiring life-transforming experiences. These include: creating personal joy and freedom, developing a better sense of self, building stronger romantic relationships, or learning to let go of old fears and doubts.
Business coaching ? Focuses on issues of running a business. It ranges from individual and executive team coaching, to coaching owners of small- to medium-sized businesses. Coaches help executives, staffs, and businesses develop, promote, and grow.
Executive coaching ? Builds highly collaborative, individualized relationships. The aim is to bring sustained behavioral change and transform the quality of the executive’s life.
Pick the best type of coaching for you. Then find the coach with the experience, education, and skills for supporting others that you’re looking for. But beware: There are some people without formal training or background who call themselves coaches.
HOW TO CHOOSE THE RIGHT COACH FOR YOU
The coaching industry attracts consultants, therapists, and people with good intentions who want to help. But because there’s currently no regulatory board or set of, the prospective coaching client should choose a coach wisely.
Evaluate their credentials
A business coach should have some formal training, and have some understanding of organizational dynamics including how to navigate corporate culture.
Other questions: Is the coach part of any organizations? Does the coach publish books or articles? Does the coach offer products and services in addition to coaching?
But don’t take degrees and certifications at face value. They tell you nothing about the quality of the coaching.
Evaluate how they work with clients
Many organizational consultants direct you toward answers without involving you in the solution. That’s not coaching. A skilled coach will engage you in dialogue, give you a new look at an issue, and ultimately let you decide what’s best.
The coach’s role is to provide support to enhance the skills, resources, and creativity that you already have. Coaches are trained to listen, to observe, and to customize their approach to meet your needs. Coaches will elicit solutions from their clients; but a skilled coach also knows when to jump in and provide direction when you get off track.
Make sure they’ve been in your shoes
Make sure your coach has experience in your area and speaks your language.
Many therapists jump on the coaching bandwagon. While the therapists may have skills and knowledge that help them work on personal transformation, they’re not necessarily best at helping you adapt your leadership style or improve work performance.
Other ways to learn about a coach:
- Read their bio, and ask about their background.
- Ask them if they’ve worked through the issues you’re having.
- Visit their website and see how they market themselves.
Look for testimonials and get real referrals
Most coaches will post a client list or testimonials on their website so you can see what their clients think. Beware of anonymous testimonials.
Ask for names and numbers of clients to contact, to validate the coach’s work. Call them. Ask specific questions such as:
- What was it like to be coached by this person?
- Did they help you achieve your goals?
- Would you hire this coach again?
Make sure you fit with your coach
Trust your instincts when deciding whether or not the coach truly understands who you are and what you need. You may want:
- A coach who’s direct and will act as a constant “swift kick in the behind.”
- A coach who provides advice and talks about their experiences.
- A coach who listens as you pull the answers from inside yourself.
Ultimately, you will want a coach with whom you have great rapport, who you would trust with certain details of your life as well as your observations, who will not judge you.
About The Author
Jim Jenkins is a certified professional coach, owner of Creative Visions Consulting and co-founder of Innovative Play LLC in Frederick, MD. He specializes in partnering with executives, front-line managers and entrepreneurs who are committed to creating sustained success in their professional lives and in their businesses. For more information, call (866) 322-8263 or visit http://www.cvc-inc.com. Contact Jim Jenkins for a copy of his white paper entitled “Getting clear about success: The return on investment of business coaching.”
Top 10 Principles for Positive Business Ethics
This morning, I read about a company using on-line auctions to defraud customers. Last week, I consulted on an ethics complaint where a business coach betrayed a client’s confidentiality. And, recently a Physician was convicted of insider trading based on information from a patient, a violation of both business ethics and her professional ethics.
Business ethics are the key to profits. If clients and customers don’t trust you, and your business ethics, they will not do business with you. Would you buy from a company you didn’t trust? Of course not!
Business ethics have become a hot-button topic. There are often ethical conflicts between making money, and doing what is right. There can be dilemmas about doing what is best for your employer, what’s best for your own career, and what’s best for the customer. Business ethics is about negotiating these mine-fields. Here are my Top 10 Principles for Positive Business Ethics:
1. Business Ethics are built on Personal Ethics. There is no real separation between doing what is right in business, and playing fair, telling the truth and being ethical in your personal life.
2. Business Ethics are based on Fairness. Would a dis-interested observer agree that both sides are being treated fairly? Are both sides negotiating in good faith? Does each transaction take place on a “level playing field”? If so, the basic principles of ethics are being met.
3. Business Ethics require Integrity. Integrity refers to whole-ness, reliability and consistency. Ethical businesses treat people with respect, honesty and integrity. They back up their promises, and they keep their commitments.
4. Business Ethics require Truth-telling. The days when a business could sell a defective product and hide behind the “buyer beware” defense are long gone. You can sell products or services that have limitations, defects or are out-dated, but not as first-class, new merchandise. Truth in advertising is not only the law, business ethics require it.
5. Business Ethics require Dependability. If your company is new, unstable, about to be sold, or going out of business, ethics requires that you let clients and customers know this. Ethical businesses can be relied upon to be available to solve problems, answer questions and provide support.
6. Business Ethics require a Business Plan. A company’s ethics are built on its image of itself and its vision of the future and its role in the community. Business ethics do not happen in a vacuum. The clearer the company’s plan for growth, stability, profits and service, the stronger its commitment to ethical business practices.
7. Business Ethics apply Internally and Externally. Ethical businesses treat both customers and employees with respect and fairness. Ethics is about respect in the conference room, negotiating in good faith, keeping promises and meeting obligations to staff, employers, vendors and customers. The scope is universal.
8. Business Ethics require a Profit. Ethical businesses are well-run, well-managed, have effective internal controls, and clear expectations of growth. Ethics is about how we live in the present to prepare for the future, and a business without profits (or a plan to create them) is not meeting its ethical obligations to prepare for the future well-being of the company, its employees and customers.
9. Business Ethics are values-based. The law, and professional organizations, must produce written standards that are inflexible and universal. While they may talk about “ethics”, these documents are usually prescriptive and refer to minimal standards. Ethics are about values, ideals and aspirations. Ethical businesses may not always live up to their ideals, but they are clear about their intent.
10. Business Ethics come from the Boss. Leadership sets the tone, in every area of a business. Ethics are either central to the way a company functions, or they are not. The executives and managers either lead the way, or they communicate that cutting corners, deception and dis-respect are acceptable. Line staff will always rise, or sink, to the level of performance they see modeled above them. Business ethics starts at the top.
Ethics is about the quality of our lives, the quality of our service, and ultimately, about the bottom line. An unhappy customer complains to an average of 16 people. Treating employees, customers, vendors and the public in an ethical, fair and open way is not only the right thing, in the long run, it’s the only way to stay in business.
© Copyright 2003 by Philip E. Humbert. All Rights Reserved. This article may be copied and used in your own newsletter or on your website as long as you include the following information: “Written by Dr. Philip E. Humbert, writer, speaker and success coach. Dr. Humbert has over 300 free articles, tools and resources for your success, including a great newsletter! It’s all on his website at: http://www.philiphumbert.com
Business and Academia!
The driving factor of any university is to make the students understand the business needs of today and equip them for a better tomorrow. This means there has to be a constant inflow of feedbacks on “what” the business needs today and what it might need tomorrow. This philosophy works best when the time taken, to constantly educate the student of the business needs is very low.
Business needs are changing at a very high pace, so they expect the recruits to be up to date of the recent happennings. For this to happen the instructors at the college have to be on their toes, to understand the new activities. Once they get a complete understanding of the business needs they can very well mould and motivate the students to move in that direction.
A conventional thought could be one of, “why can’t we achieve this by means of contact sessions between the students and professionals?” It is very much possible but, for all practical reasons its negatives outweigh the positives. We can schedule contact sessions every week or so. But for all practical reasons, all we could have is a couple of contact sessions over a span of 6 months. And we also expect the visiting professional to list out the business needs, which will be very much misunderstood by the students. Because the professional, presents from a businessman’s perspective and transalting it, in terms of educating the students is completely a different task.
Let us take a typical example of a post graduate school: Iin the fast pace of technological advancements, whatever that is vogue today becomes outmoded tomorrow. So any education that teaches something that is outmoded is of lesser value. This pushes the schools to be agile, and flexible. This nimbleness will directly mould the students to adapt to the latest technology. So once the students are out of the schools, they are very much on their toes, with respect to latest technological shifts and conceptual business changes.
Let us take a classical example of Jack Welsh ex CEO of GE , he formulated a unconventional management philosophy that “When something is working, it has to be fixed”. That is, when something is working, it is bound to die and it has to be fixed soon, before it falls apart. This was very much contradictory to the traditional adage ” When something is working, do not touch it”. This is a very valuable lesson in terms of management students. Because they are the people who are going to rule the world tomorrow, that means this shift in business has to be imparted to the students. And more than that, they need to be informed whether that principle holds good for any field.
We can also attribute pessimistice notions to this approach, such as, the instructors will not be able to do justice in handling both the streams (teaching and professional work). But there are many other options, such being a consultant etc, are available for the instructors to be in constant touch with the industry. It is just that they need to run that extra mile to do justice to the students.
-Ramesh-
