wzcc souvenir - agm 2011

AGM - 2011 WORLD ZARATHUSHTI CHAMBER OF COMMERCE

AGM - 2011 3WORLD ZARATHUSHTI CHAMBER OF COMMERCE

We Zarathushties are indeed most fortunateto find ourselves at the helm in manybusinesses, professions and cultural fields.

These great heights have been attained throughvision, determination, hard work and above allintegrity. It was the indomitable spirit of ourancestors to succeed and forge ahead which hashelped our community command the stature itdoes.

However, in recent years our ardour for enterpriseand self-reliance has given way to more securedpursuits. Many among our youth have not realisedthe enormous potential which emerging Indiaoffers. India is on a cusp of a takeoff. Our nationalproduct has risen four times in the last two decadesand per capita incomes trebled. Doing business is fareasier than it used to be before and funding optionshave multiplied.

Our youth is smart, alert and energetic. They arebetter prepared than others to avail of the ampleopportunities which beacon them. The Indianeconomic star is still shining bright despite therecent slowdown. Let us make the best of it.

How do we view the future? Undoubtedly with greatoptimism and expectation. The steps we have takenso far to lay the foundation will stand us in goodstead. We see immense potential in the youngergeneration, which with the very promising and longterm outlook of our economy, is a fine portent forthe future. This of course will call for greater supportfrom the seniors who have had their day and mustnow contribute their mite. I am sure they will rise tothe occasion.

We Zarathushties

u Minoo Shroff is Global President and Honorary Member of WZCC.and also

Past Chairman, Bombay Parsi Punchayet.

Minoo Shroff

Doing business isfar easier than itused to be before

and fundingoptions havemultiplied.

PRESIDENT�S MESSAGE


With the advances in globalization,developing regions of the world havebeen experiencing phenominal social

and economic changes while the developedregions are trying to maintain their leadershipposition as they adjust to the new world order.Depending on their geographical location,each WZCC Chapter is faced with many uniquechallenges. It has never been more importantthan now to develop an efficient chain ofcommunication between chapters and sharethe wealth of collective business expertise tobenefit Zarathushti entrepreneurs everywhere.

The tradition that started at the Houston AGM a few years ago, by inviting online participation fromall interested members worldwide, has been wellreceived. It has made communication more effective and helped to bring us closer. Having

online quarterly Director’s meeting too is a verypositive development. However, more remains tobe achieved in the areas of interaction betweenchapters in the form of exchange of ideas,experiences, professional and business expertise,etc.

I encourage everyone to regularly browse ourwebsite (www.wzcc.org) where you will findinformation regarding various aspects of ourorganization, what we do, how we operate, ourmission, our core values, as well as the latestactivities.

Communication is the KeyRustom Engineer

Depending ontheir

geographicallocation, each

WZCC Chapter isfaced with many

uniquechallenges.

VICE PRESIDENT�S MESSAGE

Congratulations and best wishes to all WZCC

chapters, executive leadership and attendees of

the 2012 AGM, Jan. 7 & 8, Mumbai!

On behalf of our members, businesses, professionals and Zarathushtis

in the Chicago area, may we continue to forge forward with united

leadership and a strategic vision for the future economic wellbeing of the

global Zarathushti community.

With blessings and best wishes,

WZCC-Chicago

u Rustom Engineer is the Vice President of the Global Board of WZCC. After working in the

Automotive Engineering in the mid-west for about 20 years, he has extensiveexperience in founding and operating small businesses. He currently resides inHouston, Texas and is actively involved with the local Zarathushti Community.


To divulge the name of a Parsi gentleman ofIndian origin whom we know as Mr. Jal SoliShroff, it brings us pride and pleasure as he is

the first overseas Indian to manufacture and supplyfascinating watches and other products worldwideto which we are attracted due to their elegance andbrand names.

His switching over from his family business of silkand textile products to that of the brandings has notonly been a turning point in his entrepreneurial lifebut also a remarkable achievement. It was butnatural to expect that from Mr. Jal Soli Shroff whohas studied Business at the London School ofEconomics.

Mr. Jal Soli Shroff, the Managing Director of Fossil(East) Ltd. Hong Kong and Director of Fossil Inc.,Dallas (USA) has a brilliant business background,which adequately helped him to proceed inrealizing his goal, but his personal talent and hard-work remained the main factor behind hisphenomenal success in business and other spheresof life.

Born in Shanghai, China, in a Zoroastrian (Parsee)family Jal Shroff did his schooling from King GeorgeV. School in Hong Kong. After completion of hisgraduation in 1959, Jal returned to Hong Kong andjoined his father's business. He proved to be a bigsupport to his father in taking the firm to newdirections of success with brandings, because hewanted to bring about a revolutionary change in hisbusiness organisation.

In the early 1980s, S.Framjee & Co. Ltd. throughan initial contact introduced by the Hong KongChambers of Commerce diversified its productbase by exporting small quantities of watches tothe USA under the brand name of 'FOSSIL'. Thereis an interesting story behind the establishmentof Fossil, which was founded with a humblebeginning but turned into a huge biz-empiresubsequently.

Once an American gentleman had come to HongKong to purchase watches for sale. On reachingHong Kong, he came to know about Jal'sbusiness, which had already switched over tomanufacturing and branding. When he met Jaland expressed his purpose of visiting Hong Kong,Jal assured him to supply the watches he wanted

to purchase. Thus, a deal of US$5,000 was madebetween them which of course was a humblebeginning. Jal started exporting watches to himand very soon his watches clicked in the Westernmarket. The demand increased, resulting finallyin the foundation of Fossil, a brand name andrecognition of Jal's products. Fossil was foundedin 1984 just with two employees.

In 1993, Fossil gained its popularity and generatedits first 100 million in sales. In the same year, itentered the European market and acquired thename Fossil ( East ) Ltd. In 1990, Jal became theManaging Director of Fossil (East) Ltd., and Directorof Fossil Inc. a public company quoted on theNASDAQ Stock Exchange (FOSL), which isundoubtedly a matter of pride for him. Jal has awatch manufacturing factory in China where 10,000skilled employees manufacture 20 million watchesevery year.

Although the company's principal offeringsinclude an extensive line of watches sold underthe Company's proprietory brands Fossil, Relicand Zodiac as well as licensed brands for someof the most reputed companies in the worldsuch as Emporio Armani, Burberry, DKNY andDiesel, it has also diversified to other products. It offers complementary lines ofsmall leather goods, belts, handbags,sunglasses under the Fossil and Relic brands,jewellery under the Fossil and Emporio Armanibrands and Fossil apparel. Recently, Jal hasstarted manufacturing and supply of fancyjewellery made of steel.

The annual net sales of the Fossil has exceeded US$1billion a remarkably great feat in the sales-biz. It tookthe company about 9 years to reach the target ofUS$100 million in sales; 7 more years to increasesales up to US$500 million and thereafter just 5years more to enhance its sales worth US$1 billion.And now they have a target of US$2 billion by theyear 2010.

Today, the company has 200 stores in 97 countries worldwide. A total of 18,000 employeeswork in Jal's company located worldwide. However, it is observed that all these did not happen in fluke; it took constant hard work,integrity, honesty and the exact application ofbusiness acumen.

Jal Soli Shroff

Today, thecompany has 200

stores in 97countries

worldwide. Atotal of 18,000

employees workin Jal's company

locatedworldwide.

OUR NEW HONORARY MEMBER


Besides hitting home in business, Jal has madea distinct recognition in the field of sports,especially in cricket. His zest for cricket alwaysmade him make his precious contribution tothis game.

He has the honour of captaining the Hong Kongteam for 7 years, playing with the likes ofGeoffrey Boycott, Gary Sobers, Polly Umrigarand Farrokh Engineer. In 1967, it was aninteresting match when the Cricket Club ofIndia visited Hong Kong and the two ParseeCaptains Polly Umrigar and Jal Shroff facedeach other at the Kowloon Cricket Club.Perhaps, it was the first and only event in thehistory of cricket.

As the captain of Hong Kong team and the mostconsistent batsman during the post-war HongKong cricket, Jal set up a new record in thatseason for the first wicket in representativecricket in the Colony when he and Ghulam Abbasput on 244 against the Melbourne UniversityOwls. Jal's personal score was 144. Jal Shroffcontinued the captaincy of Hong Kong Cricketteam from 1965 to 1971.

Jal's social commitments and community servicesare noticed more in his accomplishments than hiswords. Once he took up the task of rebuilding theParsi's shrine of worship the Zoroastrian Temple inCauseway Bay. It was decided to demolish andrebuild the temple anew. But the matter to rebuild ahuge shrine of this small community was to gainconsensus of all the community members and raisefunds.

On July 1, 2001, he was conferred with the award ofJustice of Peace, which is a great honour to him forhis humanitarian deeds.

Jal has a small family. He was married to Ms.Pervin in September 1971 and was blessedwith 3 children. His son, Rasheed is married toAmy while the daughters' names are Zarinaand Sharmeen. Mrs. Pervin Shroff is not only aresponsible guardian and healer of her familybut she is also devoted to the humanitarianservices. The Shroffs, having India's sage-likeideas about the virtues of humility, will serveas an ideal for all of us whether in India orabroad.

u

WORLD ZARATHUSHTI CHAMBER OF COMMERCE

THE HOUSTON CHAPTER

SENDS BEST WISHES FOR

A SUCCESSFUL 2012 WZCC ANNUAL GENERAL MEETING

IN MUMBAI

He has thehonour of

captaining theHong Kong team

for 7 years,playing with thelikes of GeoffreyBoycott, GarySobers, PollyUmrigar and

Farrokh Engineer.

The World Zarathusti Chamber of Commerce(WZCC) was conceived with the idea ofrekindling the spirit of enterprise in the

community as there was a perception that there hasbeen a gradual shift from enterprise to the securityof a steady job.

The question that we need to ask is, do we have it inus to be successful entrepreneurs like ourforefathers - entrepreneurs as distinguished frombusinessmen. Jamshedji Jeejibhoy and JamshedjiTata were entrepreneurs. What set them apart fromthe rest and be counted was a combination offoresight, innovation and a risk taking appetite.

The import of the word ‘Entrepreneur’ is from theFrench word ‘Entreprendre’ which means ‘toundertake’. Though introduced in the 13th century,it had no business connotation, until the 16thcentury when it was used in the context toundertake a business venture.

If entrepreneurship as it has evolved today were tobe defined in a single word it would be ‘innovation’.Though the definition has refined over the centuriesto include appetite for risk, no guarantee of profits,special skills, eye for opportunity, etc., the singlemost important quality is innovation. Nitin Nohria,when he took over as Dean of Harvard BusinessSchool, said that his main objective in the newassignment was “a period of extraordinaryinnovation.” He complemented his Alma Mater, IIT-Mumbai where he learnt to think out of the box.

It is this quality that distinguishes an entrepreneurfrom a businessman. An entrepreneur is aninnovator, but every businessman is not anentrepreneur.

In Mumbai, there are many in the business ofsupplying meals / tiffins. But someone set up abusiness model to supply calorie counted meals. Heinnovated, thought out of the box and created aniche market for himself in a crowded andconventional business. We can call him anentrepreneur.

In this context it would be appropriate to tweak thepurpose of WZCC – to ignite the innovation spark inyou. The spark is there, we need to search deepwithin to find it.

Today we complain about the global economicmeltdown and rising unemployment. L N Mittal, theinternationally renowned steel baron built hisempire buying steel plants the world over during arecession when most were shutting down. Anentrepreneur does not complain about a situation,he turns it to his advantage. At the Economic TimesAwards for Corporate Excellence last month, it wasacknowledged that the propensity to grabopportunities is the hallmark of an entrepreneur.

Innovation cannot happen in a vacuum, one needsto develop a fertile ground through an analyticaland thoughtful process in which an idea cangerminate and grow.

Innovation could be:l Simple filling of a void between existing demand

and supply.l Adding value to an existing product.l Doing the same thing in a different way by being

cost effective, more efficient and/or more convenient.

l Introducing a futuristic product – market acceptability being of essence.

l Being in the right place at the right time.

A question often asked - can entrepreneurship betaught? According to Dinesh Awasthi, Director at theEntrepreneurship Development Institute of India,the same question was asked 40 years back aboutBusiness Managers. According to him,entrepreneurship can be developed in a classroomprovided the incumbent has the requisiteknowledge, skills and aptitude. But at the end of theday, everyone who undergoes the programme doesnot necessarily become an entrepreneur.

You need a high tolerance level towards businessupheavals and turbulence; have self belief and bepassionately driven.

Not to forget, “Learn from the mistakes of others -you can never live long enough to make them allyourself” – John Luther.


Ignite the Innovation Spark

u Kersi Limathwalla is a graduate in commerce and law and is a Fellow of the Institute of Chartered

Accountants of India. His area of specialisation is taxation, mediation andarbitration. He is associated with several cultural, welfare and religious organisations

locally and internationally.

Kersi Limathwalla

You need a hightolerance level

towards businessupheavals and

turbulence; haveself belief and be

passionatelydriven.


Any entrepreneur worth his salt will readilyagree that life is always about coping withchallenges. Without challenges life becomes

monotonous and dreary.

With WZCC enthusiastically reintroducing thespirit of entrepreneurship in the community, Ifeel it appropriate to share with the present cropof community entrepreneurs, thinkers andleaders, associated and involved with the WZCCinitiatives, some of the community centricchallenges that I consider it my good fortune tohave come my way.

For my colleagues and me, coping with thesechallenges, achieving relative degree ofmodest success has provided a great degree ofself satisfaction, but the greatest benefit hasbeen the continuing education that life’schallenges have provided, resulting in ourhorizons being broadened and extended,learning to deal with issues objectively ratherthan subjectively. Coping with life’s challengesprovides education and experience that no B-School on the planet has on its curriculum.

A successful career undoubtedly provides creaturecomforts and a fair degree of satisfaction. Howeverthe degree of satisfaction is enhanced many timesover when one not knowing how to swim is throwninto the deep end without any support system. Toemerge successful from such a situation is probablyone of the headiest feelings that an entrepreneurwould experience.

Luck and opportunity always plays a vital part in thelife of every human being. In 1983 I was in the midstof an extremely fulfilling professional career. Addingto my good luck, fate positioned me to be in theright place at the right time, connecting me with theright people – Dr. Mrs. Shirinbanoo H. Kutar and Mr.Shahpur F. Captain of WZO, London..

Thus came about my involvement and theestablishment of the WZO Trust/s in India. AlthoughWZO Trust/s are very active in multifariouscommunity welfare projects, two of their initiativesare a blend of philanthropy and entrepreneurship.

Our first foray into transforming individuals, whowere down and out, into entrepreneurs, began in

the hinterlands of Gujarat. We made it our primefocus to encourage and motivate them byenhancing their knowledge base in agriculture,developed their self confidence and instilled pride intheir vocations.

We impressed upon such individuals that oursupport coupled with their hard work would be theonly method that would extricate them from themorass of poverty and bring them back into themainstream of society. This formula has paid richdividends.

These individuals have today become veryconfident of themselves, their abilities and haveimproved their life styles.

We rejoice that we have been instrumental inconverting a spark into a flame, successful ininculcating the spirit of enterprise amongst many ofthe rural Zoroastrians who now stand out as shiningexamples to others who live in despair, and aredependent on doles.

Whilst executing this project we came to realise thatthere were many more individuals who did not haveland holdings and were in need of support. Thisnecessity set us thinking of how we could assist suchindividuals. After exhaustive internal brainstormingsessions, we conceived of and launched in 1995 amodest ‘micro credit’ project through which weextend interest free financial support to thoseinterested in pursuing a career /profession of theirchoosing.

In this project, we assess the viability of modestventures that would facilitate individuals to startsmall businesses of their choice; we support suchindividuals by providing interest free financialsupport up to a maximum Rs.300,000/=, that have tobe repaid back in 40 equated monthly instalmentsthrough post dated cheques, collected at the time ofissuing our cheque for the principal amount.

This initiative has proved to be a life-changingboon for many individuals who were earliernot confident of pursuing vocations of theirchoice. The lines of business pursued are wideand varied, some examples being, plying ofauto-rickshaws & commercial taxis and trucks,establishing provision & grocery stores,

Blending Philanthropy with Entrepreneurship

Dinshaw Kaiki Tamboly

Luck andopportunity

always plays avital part in the

life of everyhuman being.

chemist shops, mobile phone agencies,wholesale dealership in eggs, setting up smallworkshops, motor garages, DTP / STD / Xeroxbooths, photography studios, computercentres, catering initiatives, trading in variousproducts, setting up gymnasiums & fitnesscentres, bone marrow registry, tyre dealershipand so on.

Over a period of 15 years we have extended supportand created 731 Zoroastrians entrepreneurs spreadover 98 urban, semi urban, rural locations.

The repayment levels have been very satisfactorywith a recovery rate of over 95%.

Through both the above initiatives undertakenby us, the lives of many individuals haveundergone a sea change for the better. Forsome we have had to hold their hands, chide,guide and motivate them. A few businesseshave floundered. However, by and large mosthave prospered. The underlying reason for thesuccesses can be attributed to hard work putin by the individuals, enthused by theconfidence we reposed in their abilities andthe initial financial support that we providedwithout the burden of interest.

Our tag line of “Manufacturing Confidence,Changing Lives, Creating a Strong Community" wascoined as a result of the successes achieved in theseprojects.

It has been a euphoric experience to participate inthe creation of so many small time entrepreneurs, somany of whom have evolved into success stories.Those of us associated with these initiatives are verysatisfied with the successes that have come our wayand continue to do so. We are very grateful for thetremendous support and goodwill received fromour community.

Our exposure to these initiatives has taught us thatlife isn't about waiting for the storm to pass; it’sabout learning to dance in the rain. For, after all, lifeis all about coping with challenges.


This initiative hasproved to be alife-changingboon for manyindividuals whowere earlier not

confident ofpursuing

vocations of theirchoice.

u Dinshaw Tamboly provides management and counselling services to companies in

India and overseas, plans business strategies and provides services on developingand promoting exports to North America & Europe.

He has been actively involved in public welfare activities since 1983 and is one of the founding Trustees of the three WZO Trusts in India and spearheads

their multifarious welfare activities. He was a Trustee of Bombay Parsi Punchayet from November 1996 to September 2008.

He is a Trustee in many other institutions comprising Trusts, hospitals and Agyari’s.

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Management Leadership: A Zoroastrian Perspective

Meher Bhesania

This is an idealsituation where

the Leaderconceptualizes a

vision andstrategizes theresources toactualize it.

Is a good manager necessarily a good leader?What happens when the two converge, linked bythe time-honored Zoroastrian precepts? The

results could be an inspired leadership, indeed!

As Zoroastrians, we have grown up with the tenetsof Good thoughts, Good words and Good deeds,and encouraged to follow the path of righteousness.These principles have served me well, both in mypersonal and professional life. I would, therefore, liketo share my thoughts on Management andLeadership, viewed through the Zoroastrian prism.

At this juncture, it’s important to understand theconcepts of ‘Leadership’ and ‘Management’. Thetwo are often found to be diametrical opposites.Good managers do not necessarily make goodleaders, and the converse is equally true. Eachplays a distinct role. In a nutshell, a Leader sets anew direction or vision, while a manager controlsand directs a team and its resources on certainestablished norms.

Leaders have the following attributes:l Are passionate about their visionl Possess high levels of integrityl Are focused on the bigger picture rather than

minute detailsl Don’t punish mistakes, but use them as learning

opportunitiesl Challenge the status quol Aren’t afraid of being unpopular

The attributes of a Manager are:l They are process-drivenl Can deal with detailsl More interested in the bottom line than an

exalted visionl Want to measure/quantify everythingl Not comfortable challenging the corporate view

What happens when you have one set ofattributes without the other?A Leader sans management skills sets a direction orvision for others to follow, without offering practicalsteps to achieve the goal. It’s then the onus of theteam to execute it. A Manager without leadershipqualities controls the resources to maintain thestatus quo and ensures that things are carried outaccording to a pre-established plan.

What happens when qualities of leadership andmanagement harmoniously blend?This is an ideal situation where the Leaderconceptualizes a vision and strategizes theresources to actualize it. Ideally, the head of anorganization or a country exemplifies this.

What does the Zoroastrian perspective tomanagement leadership imply? The Zoroastrian model lays stress on values. Itadvocates that a fine intellect, clarity of thought,truthfulness and integrity are the essentialprerequisites of a Leader, so that the visionenvisaged is fulfilled with the effective managementof resources available.

The five important steps vital to the ZoroastrianmodelThe organizational leaders/top managers should: l Act with righteousness to infuse the organization

with good valuesl Reward righteousness in the employeesl Be alert to signs of wrong behaviorl Establish good rapport with the employees

leading to wining situationsl Seek benevolent ways of solving problems of

employees and provide guidance rather thanreprimanding

A Leader-Manager dichotomy makes a person moreconcerned about impressing others than managingthe organization from within. This makes them losethe sight of truthfulness; whereas if the Zoroastrianapproach is implemented then Truth paves the wayto fulfillment of a vision, which ultimately creates abond between the management and theemployees.

Leaders can be inspiring if they cultivate Goodthoughts, leading to Good words translated intoGood actions. This percolates down to theemployees, and the entire organization. This, inessence, is one of the greatest contributions ofProphet Zarathushtra, who placed Truth at thecenter of Divine and human existence. His teachingsconvey that a righteous life is not possible withoutTruth, because Truth is the ultimate source of goodinsight, action, discernment and achievements.

Many leaders think that running an organization islike conducting a symphony orchestra. But in reality,


it’s more akin to jazz. Along with harmony,improvisation is a necessary concomitant , as leadersoften face complex moral and ethical dilemmas,where maintaining a fine balance, taking intoaccount various factors becomes necessary. In thisethos, good leaders can usher in, peace, tolerance,and ethical values to the organization, if they followthe path of truthfulness. Undoubtedly, this model isan eternal guide for creating an ideal organizationwith enlightened leadership.

After propounding my views, let me end with anancient tale that highlights the strength of a leader:Emperor Liu Bang of the 3rd century BC celebratedhis consolidation of China with a banquet for hisnobles and military and political strategists. Sincethe Emperor was neither noble by birth nor amilitary or political strategist, a few of the guestsasked Chen Cen, a military expert, why Liu Bang wasthe Emperor? In a contemporary setting, it wouldhave translated as: “What added value does Liu Bangbring to the organization?” Chen Cen answered thequery with the poser: “What determines thestrength of a wheel?” A guest suggested that it wasthe spokes. But Chen Cen countered that two sets ofspokes of identical strength didn’t necessarily makewheels of identical strength. The strength was alsoaffected by the spaces between the spokes, and

determining this reflected the true craftsmanship ofthe wheelwright.

Extrapolating this insight to the context of anorganization, while the spokes represent thecollective resources necessary for its success, theresources the leader lacks (the spaces) represent thefreedom the followers have for growing into leadersthemselves. Thus, holding together diverse talentsnecessary for organizational success is whatdistinguishes a successful leader from anunsuccessful one. Leaders don’t need to be perfect,but they have to recognize that their own limitationswill ultimately lead to their failure, unless they relyupon their subordinate leaders and followers to fillin the gaps.

Summing up, if a leader is truthful, recognizes hislimitations, is able to amalgamate variegated talentswith integrity, he/she will not only nurture theZoroastrian model of leadership, but also further theDevine edicts of Good thoughts, Good words andGood deeds.

u Meher Bhesania Founding Director, WZCC Middle East region,

Founding Director SynergyZ – publication of WZCCChair, 9th World Zoroastrian Congress, Dubai - 2009

If a leader istruthful,

recognizes hislimitations, is

able toamalgamate

variegated talentswith integrity,he/she will notonly nurture the

Zoroastrianmodel of

leadership, butalso further theDevine edicts ofGood thoughts,Good words and

Good deeds.

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The Professional AuthorSohrab Homi Fracis

It will alsoencourage andinspire you, wellbefore drafting,

to approach whatwe call the pre-

writing stage as aprofessional

would.

In 2010, the WZCC held its annual meeting atOrlando. The Florida chapter invited me to speakon the business side of writing fiction. Now, for

those of you meeting in Mumbai, I’ve been invitedto share my somewhat different message here.

To be honest, the business side is my least favoriteside of writing. I didn’t then, and don’t now, want totalk numbers. Years ago, I left a well-payingtechnical profession to write literary fiction, for onesimple reason: I wanted my work to be something Iwas passionate about. It’s an importantconsideration when choosing a profession, yet oftensecondary to more practical considerations such asmaking a comfortable living. Unfortunately, to behonest again, that’s hard to do in the arts. Thefamous part of rich and famous usually has tohappen first, before the rich part does. And neithermay ever happen. You’re far more likely to be theproverbial struggling artist.

Because of this, there’s a tendency to see the arts notas a profession proper, but as a personal passion orvocation or even amateur hobby. I do see writing asa vocation that I’m passionate about. But I also seeit as a profession to be pursued in a professionalmanner. Consider the usually obvious step ofgetting an appropriate education. You would neverapproach being an engineer or doctor orprogrammer by trying to immediately start work,instead of first training at college. But when itcomes to writing fiction, the tendency is to think,Well, I’m good with language and enjoy telling astory—what more do I need? Or, from thesometimes condescending perspective of otherprofessionals: Everyone tells stories, so anyone canwrite fiction.

There’s some truth to that. Any literate person canwrite a story. The question, though, is how well? Ifyou’re passionate about your work, you want tomake it as good as you possibly can. And if you wantit to be selected for publication by reputedpublishers and appreciated by discerning critics,then you must make it very good indeed. Doingthat is not easy. Take it from me. As a softwareconsultant at Fortune 100 companies such as FordMotor Company, I created complex systems andprograms, each over a hundred pages of code long.But I have never tackled a more complex,challenging, and difficult task than writing a really

good literary book.That’s where the appropriate education comes in: a)studying literature, i.e. the work of exceptionally finewriters, and b) studying creative writing, i.e. the craftand art of writing creatively (be it fiction, poetry,plays, movie scripts, or creative non-fiction such asmemoirs and essays). A B.A. in English lays thegroundwork, and an M.F.A. (Master of Fine Arts) increative writing does the rest, though it may befollowed by a Ph.D. in creative writing, usually if youintend to teach it as well. (You can also choose tobecome an editor, publisher, or literary agent.)

Internet sources tell me that creative-writing M.F.A.saren’t yet offered in India. If that is so, an M.A. inEnglish with an emphasis in creative writing cansubstitute. That’s the degree I obtained, when I wentback to college to study for my new career, at theUniversity of North Florida. In either case, instead oftrying to reinvent the wheel though lengthy trialand error, you’ll learn the state of the art fromexperts. Having done that, you can undoubtedlywrite better books than you would have otherwise,no matter how talented you were to start with.

What if you’re at an advanced stage of life and/or notin a position to go full-time to college? In that case,consider part-time or low-residency collegeprograms or learn the craft through home study.How-to textbooks written by professional authors,editors, literary agents, and creative-writingprofessors will guide you. Here are a few I’ve usedmyself, as student and/or professor: Technique inFiction, by Robie Macauley & George Lanning; TheArt of Fiction, by John Gardner; and Self-Editing forFiction Writers, by Renni Browne & Dave King.

Education in the craft will not only equip you todraft your manuscripts at a professional level. Itwill also encourage and inspire you, well beforedrafting, to approach what we call the pre-writing stage as a professional would. You willtake the time to plan your characters and roughstoryline. You will take the necessary trouble toresearch matters outside your personalknowledge. For instance, you will visit (or revisit)your story’s settings for locale research. And youwill subconsciously incubate your ideas over timeto help problem-solve and adjust. Only once allthese preparations are in place (and you will feelthis state of readiness) will you sit down to draft.


Even when drafting, you will know how to paceyourself for quality over productivity. You will bepatient, knowing better than to push it when ascene is not coming at a high level or not coming atall. You will be diligent, revising as you write,revising when the draft is complete, then putting itaside for a period in order to return with a fresh eyeand revise it again. And again. And again, for aslong as it takes to make it the best you can on yourown. Then you will run it by trusted readers—otherauthors or literary agents—for constructivefeedback. And you’ll revise it some more, until it’sthe best final product it can be.

All this professional skill, savvy, and dedicationwill pay off when your work is recognized: by theacquisitions editor of a good publisher, byappreciative readers, by book reviewers andliterary critics, and, with some luck, by awardcommittees. It will also pay off in terms ofadvances, sales, and royalties, though not verywell, ironically, if indeed you’re writing literary-quality fiction rather than popular potboilers.But monetary rewards should and will besecondary to your sense of achievement andfulfillment. I said before that I had never tackleda more difficult task than writing a really goodliterary book. Well, my earlier life had its share of

accomplishments: among them, graduating fromIIT, winning a scholarship to the University ofDelaware, and working for Tata Burroughs. Butwhen I heard that my book of stories had won theIowa Short Fiction Award and would bepublished by the nationally reputed University ofIowa Press, that was the single most fulfillingmoment of my life.

Your authorial responsibilities won’t end atpublication. Book signings and readings atbookstores and book fairs, invitations to book clubsand university classrooms, author’s website creationand updates, panel discussions at writers’conferences, print and live interviews, all of theseand other forms of book promotion lie ahead. Butyou will handle it and enjoy the recognition, for youare what you’ve earned the right to be called.Professional.

u Sohrab Homi Fracis, born and raised in Mumbai, is the first Asian to win the Iowa

Short Fiction Award, juried by the legendary Iowa Writers’ Workshop, for his book TICKET TO MINTO: Stories of India and America. It was also released in India by Indialog Publications and translated into German.

He was Visiting Writer in Residence at Augsburg College and fiction and poetry editor of the State Street Review. He is on the fiction faculty of the

University of North Florida Writers’ Conference.

It will also pay offin terms of

advances, sales,and royalties,

though not verywell, ironically, if

indeed you’rewriting literary-quality fictionrather than

popularpotboilers.

With Best Compliments From

Viraf N. Chiniwala

Specialists In Renovation of Multi Storied Buildings

An Iso 9001 : 2008 Certified Company

7, Cassinath Building No. 1, 1st Floor, Cassinath Street, Tardeo, Mumbai - 400 034.

Phones : 2354 35 60/ 2354 89 49 Fax : 2354 56 01

E mail : [email protected] / [email protected]


Woman Entrepreneur-Transforming the Community

Cyrus Bagwadia

Let the men inthis communitybe awed and

appreciate all thatshe does andtake it upon

themselves tobecome morehelpful andsupportive.

There is something quite unique in Parsicommunity - The ubiquitous BusinessWoman.

Perhaps the most underrated and under publicizedpersonality. Haven’t we, at one time or the otherdepended on the friendly neighbourhood bhonusupplier?

Then of course there are those running car rentals, to artdeco jewellery, to glass beaded torans to embroideredsaris, to gift wrapped chocolates, to running homecrèche, and NOT forgetting a marriage bureau. Eachmaking our lives a little better.

In a survey done last year, 60% of Parsi women are“household income earners”! Wait till you hearthis—one-third of these are in their own businesses.This is astounding and has never stopped to amazeme. But then isn’t almost all of community effortsand support is targeted towards the men folks to getthem up and going in their lives?

Let’s take a peep into a typical day in life of a woman.Lets call her, SuperBawi.

Its 6 am and she has a mental list of things she needsto take care of within a certain time frame. Gettingthe kids ready for school, run them to the school busstop, prepare breakfast for husband, and as if thesetasks are not enough, she make sure he feels reallyelated with a flying kiss and a loving wave of “comeback soon” hand.

As soon as SuperBawi has finished waving to herhusband with a smile on her face, she runs back tokitchen and starts to plan the 2 meals for the day.She weighs between the things her family wouldlove to have and what she has in the fridge. A greatcorporate CEO is one to exude a balance betweenthe interests of the company and his own. ForSuperBawi, it comes naturally in her daily chores!

Now SuperBawi goes to the market. She knowsexactly what she wants. She starts looking at prices,compares different brands, considers variousoptions and makes choices based on best value shegets. She negotiates hard.

It’s her natural instinct to make every Rupee count,optimize limited resources, and get a good return on

her investments. Instinct is the nose of the mind. Agreat gift to have in a business. She is a perfectprocurement officer. She is naturally wired to selectright supplier of products who gives her the bestterms. Remember, all young businesses go throughlean times when there’s little or no funds to goaround and there is so much more to do. She haswell crafted art of negotiations.

Let’s go back into the day of our Superbawi The kids are back from school and she is allorganized for their home coming. A tasty homemade snack, fresh clothes after a bath. And then itstime for their studies and homework. Just then herhusband’s sister happened to be in the vicinity anddecides to drop in. SuperBawi makes her somecoffee, has a chat with her, makes sure the kids arestudying and begins the preliminary preparationsfor the dinner. She seems most at ease with multitasking, while playing a gracious host to aunexpected guest.

Women are natural-born multitaskers and when inbusiness, this is a critical skill. Whether it's marketing,customer service, design or project managementthat's required to get a company off the ground,women excel in the juggling tasks and are morecomfortable wearing different hats. Her aptitude fordetails, her ability for doing multiple tasks, herpenchant for getting the best value, herdetermination with intuitiveness are essentialelements to propel a company to success today.

Most of the female entrepreneur depends on familysupport. Banks are not generally interested in givingloans to them. Moreover lack of knowledge andexposure to business plan and skill development aregenerally absent or low. (WZCC—are you listening?)

Despite such issues and obstacles this generation ofwomen have truly taken charge. I applaud theseamazing women. Let the men in this community beawed and appreciate all that she does and take itupon themselves to become more helpful andsupportive.

u Cyrus Bagwadia is the President of WZCC India. He started Dupont in India as its first

Indian Country Head. Was MD of Essel Propack which won the "Best Under a Billion, a global award by Forbes magazine USA. and MD of Bilcare Ltd in Singapore and now a Management Advisor and Mentor. Actively pursues

entrepreneurship development and has investments in 3 startups.


Role of WZCC in Current Economic Scenario

Adi B. Siganporia

The basicobjective and aimis to spread the

spectrum ofTrade, Commerce,

Industry,Entrepreneurship,Professionalism

and relatedaspects

throughout thelength and

breadth of theglobe involvingall Parsi IraniZoroastrians.

Our small community has achieved greatlaurels over the last several decades and ourcurrent generation has rightly been resting

on these past glorious achievements of ourforefathers. However, only when we go into thedetails of what our ancestors exactly did, we realizewith pride that they entered trade, commerce andindustry. They plunged into business – domesticand international. They started with humblebeginnings and then grew and prospered. They hadguts, they saw the opportunities around them andgrabbed them. They then worked hard. They werenot intimidated by temporary setbacks – they fellbut got up and bounced back as if they had springson their spines; they worked with determination anddiscipline – coupled with sincerity and honesty ofpurpose. They were then trusted and respected andwere so successful that although generationspassed, their everlasting legacy is still spreadingsweet fragrance even today and God willing, willcontinue for all times to come. The Spirit ofEntrepreneurship and Professionalism in differentwalks of life got imbibed in them. They were notEmployees ! They were Excellent and RespectedEmployers. They did not stop at that. They had theVision and Wisdom to create various Trusts andensured that the future generation got the benefitin terms of Housing, Education, Medical relief etc.May their noble souls be blessed with eternal peace.

It is in this light that a World Body got birth roughlyeight years ago with a name – WORLDZARATHUSHTI CHAMBER OF COMMERCE (WZCC).The basic objective and aim is to spread thespectrum of Trade, Commerce, Industry,Entrepreneurship, Professionalism and relatedaspects throughout the length and breadth of theglobe involving all Parsi Irani Zoroastrians. Theinterconnection and networking between the Small,Medium and Large Enterprises and Professionalsbecomes a breeding ground of new ideas, new spiritand new awakening which will keep the torchburning so that we remain creative, independent,self reliant and be masters of our own.

WZCC conducted two very useful and successfulPrograms during the last two consecutive yearscalled “Business Plan Contest” and “EntrepreneurDevelopment Program”. All the aspects of aBusiness Entity were integrated in a packagewhich proved enjoyable and interesting to the

participants. These two Programs generated anew spirit and awakening amongst youngergeneration – as they wanted to be masters of theirown. The reactions of the Participants in generalterms were :

(a) I did not have the clarity of the complexities ofa Business Entity earlier – now I have.

(b) My ‘confidence level’ of moving on my ownwas at a very low ebb – now it is very high.

(c) My ‘perception’ of the business world was toonarrow – it has now widened.

(d) I had several misconceptions, now I am clear inmy mind as to what businesses is all about.

(e) There is now a growing realization in my mindthat opportunities are innumerable – I onlyneed to find them.

(f ) The beauty and the essence of these Programsis that we have the back-up and hand-holdingof our Mentors till we settle down in our respective business ventures. This is the mostuseful ingredient of these Programs.

Apart from the aforesaid focused Programs,several interesting Events are being arrangedwhich enhances business knowledge, wisdom andwealth of all those who interact with WZCC.Moreover, WZCC is vibrant with youthful energy asits youth are actively interested in ‘Networking”,‘Knowledge sharing’, etc. here in India as well as


abroad. This interaction will continue to flourish.Furthermore, there is a growing demand frompotential Entrepreneurs to seek advice on variousaspect of business and here again WZCC is in theprocress of establishing a “Business AdvisoryGroup” (BAG) comprising of well qualified,experienced and reputed Individuals who willwillingly help such Businesses to be on the righttrack and grow.

Thinking of the World Economy, there are two majorAsian Powers which are likely to prosper and growover the coming two to three decades. The giganticpopulation of these two countries which wereviewed negatively seem to be giving an impetus tomore and more of consumer demand and foreign,private and institutional investors. The purchasingpower of people in India seem to be progressivelyincreasing. An average Indian now aspires to have afairly decent life compared to what our predecessorsever dreamt of. Gradual increase in literacy levelsseem to be creating an intelligent and committedwork force. Moreover, the huge proportion of youngpopulation adds enormous strength to oureconomy.

Our country is also fortunately endowed with amplenatural resources. The inherent rich Indian culture

adds some feathers in our cap. Earlier the world wasnot looking at us. Now they do. They now want totake a step further and mingle with us. They havenow understood the real meaning and essence ofIndian culture, heritage and values. Earlier we usedto say – “India is a rich country with poor people”. Weshould not be surprised if in the coming years, wesay “India is a rich country with rich people”.

With growing economy, business opportunitieshave a tendency to multiply geometrically. Even ifone venture fails, another comes on the surfaceready to be attended to and that too fruitfully. Thegolden era of multiple choices and varieties ofopportunities can certainly give boost to business,trade, commerce and industry to grow. The oldsaying that “An Indian Businessman’s ingenuity is sosharp and skilful that he can buy from a Jew, sell to aScot and still make profit” holds good even now.Parsi Irani Zoroastrian Entrepreneurs andProfessionals have not lagged behind, they cannotand will not be laggards. They were front-runners,are front-runners and will continue to win. WZCC isestablished to generate winners.

An average Indiannow aspires tohave a fairlydecent life

compared towhat our

predecessors everdreamt of.

u Adi Siganporia is the Vice Chairman of WZCC Mumbai Chapter and a

Retired Senior Executive of the Tata Group.

With best wishes from :

World Zarathushti Chamber of Commerce -

Pune Chapter.

Committee members

Chairman : Viraf Deboo

Vice Chairman : Umeed Kothavala

ex – Chairman : Adi Engineer

Treasurer : Tehmasp Bharucha

Secretary : Khushru Minocherhomji

Jt. Secretary : Vistasp Dastur

Accounts : Rohinton Udachia

email: [email protected]


Corporate Governance for Global Competitiveness

Dolly Dhamodiwala

No Success orAchievement inmaterial terms is

worthwhile unless it servesthe needs or

interests of thecountry and its

people and is achieved

by fair and honestmeans - J R D Tata

Corporate Governance in its broadest sense isthe balance between economic and socialgoals and between individual and communal

goals. The governance framework is designed toencourage the efficient use of resources and equallyto ensure accountability for the stewardship of theseresources. The aim is to align as nearly as possiblethe interests of individuals, corporations and society.

In this broad sense, good Corporate Governanceis the foundation of economic reforms aimed atstrengthening the economy and promotingsocial welfare. At the corporate level, goodCorporate Governance is a system by whichcompanies are directed and controlled by theBoard. This function is different from themanagement of the company.

The Board’s role is to guide and lead themanagement of the company by setting thecompany’s strategic objectives, supervising itsfunctions and reporting to the shareholders theoutcomes of its stewardship. Leadership at theBoard level connotes leadership for efficiency tocompete globally, leadership for probity to gain theconfidence of the investors and leadership fortransparency and accountability to invoke trust ofthe stakeholders.

In doing this the Board is expected to follow thefour main pillars of Corporate Governance –Responsibility, Accountability, Transparency andFairness – Some of the essential elements of CorporateGovernance for a company are : Good Board practices with well defined roles,

responsibilities, duties and commitment Equitable treatment of all shareholders and

active participation of all stakeholders in decision making – well-defined shareholders’ rights

A strong regime of disclosures andtransparency

A robust control environment for internal controls and risk management

Sir Adrian Cadbury The emphasis is not only on returns to theshareholders but wellbeing of all stakeholdersincluding customers, suppliers, employees,investors and Society at large.

Relevance of Corporate Governance More than financial performance of the company,global investors today look for effective boardleadership, transparency, accountability,shareholder protection and an effective riskmanagement system. Good governance practiceshave benefitted companies as well as countries inattracting investment from global financiersresulting in better financial performance andgreater efficiencies in the financial markets. Wellgoverned companies perform better due toimproved access to external finance, lower cost ofcapital, increased firm valuation, improved shareperformance and reduction in the risks of corporatecrises and scandals.

Corporate governance is not new to India. Aphilosophy of good governance based on theprinciples of integrity, responsibility and goodmoral and social values had been embedded inthe corporate culture of some of India’s leadingbusiness enterprises even before the conceptwas defined in the West. Prominent examples ofwell governed companies which emphasizedthe well-being of all stakeholders and theSociety, are the House of Tata’s, the GodrejGroup, the Bajaj Group and a few othererstwhile closely held companies.

Globalization has ushered in myriad challengesmaking the Indian business environment morecomplex. As Indian businesses enter globalproduct and service markets, expand throughcross-border acquisitions and mergers, seek anincreased flow of risk capital from maturedcapital markets and face intense competition onhome ground from foreign direct investment,they need greater strength to succeed and growin an increasingly challenging environment. It ishere that good corporate governance canbecome a true differentiator.

Corporate Governance is a tool that can equip acompany to build sustainable changes in strategyand go far beyond financial success. Yet the widerdistribution of the benefits of CorporateGovernance depend on the institutional andstructural context within which firms operate.

Corporations work within a governance frameworkwhich is set by laws of the country, regulations and


the company’s own constitution. The framework willdiffer from country to country but its effectivenessdepends on the degree of supervision andenforcement mechanisms. Equally important is thedegree of monitoring from the shareholders andinstitutional investors, which is weak in India due toabsence of shareholder activism in the Indiancapital market.

Good Governance must materialize from withinthe companyWhatever may be the level of regulatorystandards, good governance practices willultimately have to come from within thecompany and emanate from its own businessphilosophy. The Tata Group’s philosophy ofCorporate Governance is founded upon a richlegacy of fair, ethical and transparent governancepractices many of which were in place evenbefore they became mandatory. The Tata Code ofConduct serves as an ethical roadmap for all Tatacompanies and employees.

In the Godrej Group of companies, from the days ofPirojshah Godrej, its patriarch, the philosophy ofCorporate Governance was developed on soundethical lines with emphasis on service to thecustomer and welfare of its employees.

Dominance of Family ManagedEnterprises in Developing Marketsincluding IndiaSome of India’s highly successfulbusiness conglomerates have beenFamily Managed Enterprises. The keyreasons for the success of thesefamily-owned businesses areCommand (independent decisionmaking by senior management),Continuity (far-sighted mission),Community (a culture with deepconcern for employees) andConnection (establishing a strongrelationship with customers andsuppliers). But not all familybusinesses particularly in emergingmarkets like India have adopted thisphilosophy. The ultimate bottom linehas always been market capitalizationand share pricing.

Corporate Governance High on theAgenda of Companies.Corporate Governance has currentlybecome an immensely debated issuefor corporate entities, financialinstitutions and even State ownedenterprises. This is becauseglobalization and the increased crossborder flow of funds especially private

equity, require enhanced levels of accountabilityand transparency which can invoke greater trustfrom the investors. Resources flow to companieswhich inspire Trust.

If corporate entities have to gain the trust of theirinvestors, they will need to overhaul theirbusiness models in tune with the expectations oftheir overseas partners. In this context, the roleof the Board of Directors is extremely critical. Adiverse and independent Board with professionalexperts can even challenge the management onits strategic decisions. In building an optimumbusiness model, maximization of financialreturns will have to be linked with sustainabilityof the business. This entails a robust monitoringsystem for all business areas, separation ofownership, control and management functions,timely succession planning, effective internalcontrols, a strong risk management system andabove all concern for the welfare of allstakeholders and the Society.

u Dolly Dhamodiwala is an active Managing Commttee Member of the Mumbai Chapter of WZCC.

She is an Economist and Management Consultant by profession

If corporateentities have togain the trust oftheir investors,

they will need tooverhaul their

business modelsin tune with theexpectations oftheir overseas

partners.

The first monthly Newsletter of the Mumbai Chapter was circulated tomembers by email and placed on the WZCC Website in November2008. Since then, 35 Newsletters have been circulated, which form

part of the Archives of WZCC Website.

The first paragraph of the November 2008 Newsletter states its purpose :“Communication between the Committee and members is an essentialcomponent for the development of any association. What is importantalso is, that it develops a sense of belonging”.

The Newsletter covers a wide spectrum of topics, such as :

l The previous month’s and the following month’s events or programsl Profile of membersl A whole series titled - Introduction to Management – starting with the

subject of “Evaluation of Management Leadership”l Business topics of interest to SMEs, such as, Forming a Company,

Valuation of a Company, Cash Flow and many others.

We, as part of WZCC, believe that change is the only constant. We wish toimprove the Newsletters to provide better, more enduring value for ourreaders. We need contributions from members from around the world onsubjects that cover : Entrepreneurship – share experience or lessons onrevival, from failure to success; Business Planning; Mentoring;Management; Networking; Quality; Productivity; Marketing & PersonnelDevelopment.

The Newsletter can also provide a platform for dialogue betweenmembers to promote trade, share business experiences and/or technologyfor mutual benefit.

We would be delighted to receive any other suggestions from members togenerate interest or passion for the Newsletter and expand readershipthroughout Chapters. We look forward to your response by mail addressedto “The Editorial Team at [email protected].”

Wishing you all a Very Successful New Year

Editorial Team – NewsletterWZCC India

NE

WS

LE

TT

ER


So you wanna be an Entrepreneur ?

Yazdi Tantra

These peaks andvalleys represent

the joys andfrustrations of

entrepreneurship.And, if you havehad that cycleride, like most

Parsis have had,you are already

an Entrepreneur !

Have you ever zoomed down a steepmountain road on your bicycle, with bothyour feet in the air ? It’s thrilling and

terrifying at the same time. You react tocircumstances as quickly as you can, but still wonderif your last decision will throw you off the mountain,or cause you to run headlong into some obstacle or,better still, will allow you to gain even more speedand momentum ! It can be a truly exhilarating, hair-raising ride. But like a roller coaster, every peak isfollowed by a valley. These peaks and valleysrepresent the joys and frustrations ofentrepreneurship. And, if you have had that cycleride, like most Parsis have had, you are already anEntrepreneur !

Yes, being an entrepreneur is being crazy. But hewould not have life any other way. With a fire in hisbelly, an entrepreneur is compelled to do what he

loves doing most and thoroughly enjoys doing itover and over. He is a master of his destiny. And hecreates something from nothing ! Other mundanestuff like making money, creating jobs, having noboss, etc. are all pleasant side effects.

And, are we not all crazy as a community ? Takingyour motorcycle up to your home on the secondfloor, washing your car when it is raining, collectingball point pens for no reason – are all signs of beingmadly passionate about something. That is whatentrepreneurship is all about – being passionate tothe point of madness. Proves a point –entrepreneurship is in our genes.

So, why are we not seeing many entrepreneursaround these days ? Is it fear of failure ? or too manyhassles or lack of risk appetite ? Maybe a little ofeach, combined with easy availability of high paying


jobs. But then, there is no comparison between asteady bus ride in the city and a humongous rollercoaster ! Safe, but no thrill – yuck.

Where do I start ? The answer is very simple – startwith a hobby and make it your vocation. If music isyour passion – start a music academy. If art is yourcraving – you could trade in paintings. And, if youare the nerdy type, you might like to dabble insilicon chips and ultimately invent a commerciallyviable Solar power generating system. You couldstart a part-time hobby and later convert it into a fulltime business.

How do I start ? Well, well. There are so manyinstitutions and organizations ready to helpthese days. Look at National EntrepreneurshipNetwork (NEN), The Indus Entrepreneurs (TiE)and our very own World Zarathushti Chamberof Commerce (WZCC). Did you know that WZCC conducts Entrepreneur DevelopmentPrograms on an annual basis to educate andmentor those who want to dive into the abyssof entrepreneurship and equip them withsturdy parachutes to ensure safe landings ?

But where is the money ? Show me a good projectand the money will follow – something that hasbeen said a million times. No matter how crazy youridea, if it is workable and commercially viable, thereis no dearth of money these days. So many investors,venture capitalists and banks prowling around,looking for so few good, viable projects. Beware -before you find them, maybe they will find you ! Andall ventures do not involve big money. Better to startsmall and grow, thereby minimizing your need andrisks.

Isn’t it risky ? If you invest in shares, it is risky. If youtake up a job, the company may fail, or your bossmay be obnoxious. If you use a computer, you mayget a virus. If you walk on the street, you might justmeet with an accident. There is no place which is riskfree. But there is a place where you can enjoy beingyourself – your own sweet entrepreneurial venture.What if I fail ? No worries. A couple of failures willbring out the best in you and groom you to becomea tenacious entrepreneur. What happens when achild learns to walk ? Does he succeed the first time? Does he keep trying ? Till he actually walks ? Well –we must learn from kids these days!

The eco-system The support system where youmeet with others who are as ambitious as you are,where you find mentors and hand-holders, whereyou find experienced stalwarts guiding greenhorns– all this is available for the asking. Just walk into aWZCC office with a prior appointment and you willbe surprised.

Well, all this is fine, I am raring to go, but who willconvince my family ? YOU – who else !

It is certainly not a bed of roses. Grit, determination,hard work, smiles and tears are all a part of thegame. At the end of it all, when you create your babyventure out of nothing, enjoy being there andsucceed in making your dreams a reality, you willlook back with a smile and say – “Well, after all, it waswell worth the effort.”

Welcome to the topsy-turvy world of Entrepreneurs !

It is certainly nota bed of roses.

Grit,determination,

hard work, smilesand tears are all apart of the game.

u Yazdi Tantra is the Technical Director on the WZCC Global Board, and a first generation

entrepreneur, actively involved in developing Entrepreneur Development andEncouragement programs.

I would rather stumble a thousand times

Attempting to reach a goal,

Than to sit in a crowd

In my weather-proof shroud,

A shriveled and self-satisfied soul.

I would rather be doing and daring

All of my error-filled days,

Than watching and waiting, and dying

Smug in my perfect ways.

I would rather wonder and blunder,

Stumbling blindly ahead,

Than for safety's sake

Least I make a mistake

Be sure, be safe, be dead.

- Author Unknown


The Evolution of Management Leadership

Phili Kharas

TheManagement

leaderaccomplishes

results bymotivating others

to do forthemselves,rather than

through what hecan do for them.

ALeader’s job is to provide direction andguidance so that the members of his groupcan work effectively together. This means

that the leader has to engage himself in somephysical and mostly mental effort. Hopefully, thiswrite-up will help entrepreneurs to perceive theirown characteristics on leadership and where theystand on the ladder of evolving leadership, inmanaging their business.

When first assuming a leadership role, a person willtend to do the things that come naturally to him. Hewill use his knowledge, aptitude and personalitycharacteristics, in his attempts to guide and direct thepeople he leads. A “natural” leader tends to put hispersonal interests above those of the group as a whole.His outlook and orientation are “centric”. Typically, hesees other members of the team as working for him,rather than with him. He tends to give more emphasisto his own rewards, whether these are financial orpsychological. At this “natural”, intuitive stage, theleader tends to get his greatest satisfaction fromachieving results that are immediate and visible and forwhich he can claim credit.

The natural leader generally tends to act first, thinklater. He tends to build his Organisation aroundindividual personalities. He selects key individualsand allocates important work to them. His primaryconcern is whether the individual has integrity andcan do the work without raising questions ordiscussing the merits of the decision. This approachtends to be successful over the short term. Sooneror later the individualsaccumulate diverse andunrelated responsibilities. As ithappens most often theindividual’s successor will nothave the experience necessaryto perform all the varied orunrelated tasks. As a resulteach individual entering thegroup tends to trigger a re-organisation.

The natural leader is primarilyconcerned with making othersunderstand him. Generally hetells others what he wants andhow he wants it. He is not agood listener and makes little

effort to understand the different view points ofthose with whom he works. As a result the naturalleader is insulated from the underlying feelings ofhis people and communication tends to degenerate.

The success of a natural leader tends to belimited to his own personal strengths andcapacity. He does not know how to multiply hisefforts most effectively through other peopleand therefore he has to depend largely on hisown strength and ingenuity. Operating withina frame work of short term actions and resultshe has not learnt how to master the future. Asa result most often his organistaioin begins tooutgrow him. If his organisation has to survivehe has to undergo a transition to becoming a“management leader” who specialises in thework necessary to achieve desired resultsthrough and with other people. TheManagement leader accomplishes results bymotivating others to do for themselves, ratherthan through what he can do for them. Amanagement leader can be identified when heputs the needs and interest of his organisationahead of his own personal interests.

The Management leader knows the decision heshould make and those that can better be made byothers. He establishes the conditions that makedelegation possible and consistently pushesauthority down to the operating levels. This form ofleadership allows people the opportunity to makemost of the decisions that relate to their own work.


Instead of building jobs haphazardly aroundindividual personalities the management leaderlogically arranges and groups the work to beperformed; he ensures that each person haschallenging satisfying work to do and that theefforts of his people are directed towards profitableresults.

The Management leader sets out responsibilities sothat others know what is expected of them and candecide for themselves whether or not they areobtaining the desired results. The Managementleader then gets concerned only with those thingsthat are not progressing according to plan. He canthus exert maximum control with minimum effort.More important he gives to others the tools theyneed to evaluate their work and correct their ownmistakes.

It is indeed interesting to read what themanagement “guru” – Peter Drucker – says aboutLeadership. Here’s an abstract from his book titled“The Practice of Management” :“ Leadership is of utmost importance. Indeed thereis no substitute for it. Leadership cannot be createdor promoted. It cannot be taught or learnt. ….Leadership is not about a magnetic personality, itsnot about “making friends and influencing people” –

that is Salesmanship. Leadership is the lifting of aman’s (your subordinates) vision to higher sights,the raising of a man’s performance, to a higherstandard, the building of a man’s personality,beyond its normal limitations. Nothing betterprepares the ground for such leadership than a spiritof management that is confirmed by the day to daypractices of the organisation, strict principles ofconduct and responsibility, high standard ofperformance and respect for the individual and hiswork”.

The Leader seeking to develop professionalcompetence in management must begin with aclear and orderly understanding of his tasks andresponsibilities. This understanding is based on asystematic arrangement of the work ofManagement into logical groups or categories.Management is about securing results through andwith other people, therefore a Management Leaderrelies not so much on what he himself can do but inwhat he can get others to do for and with him.

The Leaderseeking todevelop

professionalcompetence inmanagement

must begin witha clear and

orderlyunderstanding of

his tasks andresponsibilities.

u Phili Kharas is the Chapter Chair for WZCC – Mumbai Chapter.

Professionally, he is the Chairman of Ecoplast Ltd. and Member of Governing Council of Indian Center for Plastics in Environment.

He is past President of The Organisation of Plastics Processors

Our best wishes to all ,

BRIGHTON SYNTHETICS

Manufacturer of Technical Textiles – Twine, Tapes / Webbing & Knitted Cord

made from Nylon, Polyester, Polypropylene (‘PP’), Cotton yarns

Our products are used in:

l Cargo-lifting (high tenacity webbing/ slings),

l Safety harnesses & belts (in construction, adventure sports, defence, etc),

l Automobiles (in seat frames, pull-straps, seat belts, etc)

l Jumbo bags (FIBC- handles) & Straps for travel bags, haversacks

l Packaging – (cord handles in eco-friendly carry bags of paper, cloth, plastic, etc)

l Fishing & Shade Nets (twine for nets – 210x1x3 to 210x40x3)

l Sewing threads (Nylon, Viscose, Polyester – Spun, Filament, etc)

and other allied industries

You can contact us …. Vera Saiwala on +91-98204 92323

Baghdadi Estate, 43, R. S. Nimkar Marg Sayras Anklesaria on +91-99303 07804

Mumbai Central, Mumbai – 400 008 [email protected]

INDIA [email protected]

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wzcc souvenir - agm 2011

Documents

world havebeen

new world order

business isfar easier

zarathushtiesu minoo

recent years

houston agm

immense potential

realisedthe enormous