LEADERSHIP FAILURES!!!!!!!

Five ways to deal with an incompetent team leader There are very few things at work worse than having to deal with an incompetent boss. But if you do, then take comfort in the fact that you are not alone. Start on a positive note No one wishes to be an incompetent or a bad boss intentionally. Says Makarand Khatavkar, MD & HR head for Deutsche Bank Group, India: "To begin with, try changing how you define a problem: if you define the problem as a person and not as a behaviour to be changed, you create an emotional impasse and close all doors to improving the situation." People cannot change who they are but almost anyone can change the way they act. If you internalise this principle, you can deal with anyone, he says. Give support to your boss Are you doing anything that is aggravating the problem? All managers are humans and are prone to human fallacies and they do need support of competent staff. "Generally speaking, most bosses are aware of their weak spots but may feel awkward to ask for help.  If you recognize your boss' limitations and support him in overcoming his challenges through your skills, knowledge and judgement, you will be valuable to your boss and gain a lot," advises Khatavkar. Get things in black and white When you're dealing with an incompetent boss, it's good to opt for the formal communication route. Such bosses tend to impose their faults on others. So the best way to protect yourself is to communicate in writing, for instance over email.  That way, it's on official record. "You need to have your safeguards inbuilt so you are not made a scapegoat," warns Symbiosis Management Consultants CEO Vinay Grover. Remember the context Very often, problematic behaviour triggers issues that we are sensitive to and provoke unhelpful reactions subconsciously. This means you cannot put the blame entirely on the incompetent boss. Says Khatavkar: "Contextual factors play a major role in your boss' performance.  Most importantly, do not make judgement about your boss based on what you know-you might be blissfully unaware of organisational realities and dynamics that your boss may never speak about. Please incorporate this X-factor before forming any opinion." Adjust to the situationIf nothing else, just lie low and adjust to the situation. "Make adjustments according to your boss' style to achieve organisational goals," says Vinay Grover. Figure out just what it is you have to deal with and work out your own coping tactics till the time you are ready to leave.http://economictimes.indiatimes.com/features/et-slideshows/five-ways-to-deal-with-an-incompetent-team-leader/quickiearticleshow/14794177.cms

ONMOBILE-‘weaknesses in processes’

Newsmaker: Arvind Rao

'Weaknesses in processes' oust risk-taker from own company

Bibhu Ranjan Mishra / Jul 13, 2012, 00:56 IST

During the heyday of mobile value-added-service (VAS) provider OnMobile, CEO and Managing Director Arvind Rao was known as a man with a Midas touch. on Thursday, he is no longer at the helm of the company, having resigned in ignominy under allegations of financial malfeasance within the firm which he, as CEO, has shouldered responsibility for. The company officially chose to describe the discovery as ‘weaknesses in processes’ — a declaration that came after a special review was completed by the company’s legal advisors, Amarchand Mangaldas and Suresh A Shroff, assisted by accounting firm KPMG.

Allowing Rao to leave was perhaps the best option available, since letting him continue would have raised further suspicion among shareholders at a time when share prices had already taken a beating.

People who know him closely say Rao was ambitious from the first day. During his days at Indian Institute of Technology-Mumbai, he came in contact with Nandan Nilekani, co-founder of Infosys, his batchmate. It was Nilekani and Phaneesh Murthy (then the head of global sales at Infosys) who were instrumental in attracting his attention to a product that a team at Infosys, headed by Mouli Raman (one of the founders of OnMobile, now designated interim CEO) was pursuing at the time.

Then, Rao went to the United States to study Masters in Business Administration in Finance from Wharton School, University of Pennsylvania, and subsequently a Master of Science from the University of Wisconsin. He had a successful career in private equity and venture capital businesses. He also enjoyed a stint at McKinsey & Co, where he focused on the electronics sector.

To what extent he is involved in breaching the corporate governance standards and processes at OnMobile is yet to be ascertained. But Rao’s role in grooming an idea into a product and making OnMobile one of the largest VAS players globally is not a question. It was his risk-taking appetite that prompted a motley collection of engineers at Infosys, part of the internet product group, to spin off into a separate entity, on Thursday known as OnMobile. His long association with technology companies in the US, where he was involved as an investor, helped OnMobile change its business model from one that leveraged a product initially sending alerts to websites — to a mobile alert system.

“There was no need to sort of go out and take a big risk with your life and your career,” said Rao in an earlier interview. “But something just bit me where I wanted to work for myself,” he adds. Finding the first customer for the product was a challenge. In 2002, Rao and co-founder Mouli Raman were seriously thinking of shutting after failing to detect much scope for growth.

“We never plan for revenues, we plan for products and we plan for product enhancements,” he says. “We believe that if you do that well, the revenues will happen,” he was quoted saying.

Now, however, OnMobile will need to plan on moving on without Rao, while dispelling any doubt about its corporate governance procedures, while he will focus on clearing his name.

http://www.businessstandard.com/india/news/newsmaker-arvind-rao/480299/

--------------------

MCA will look into allegations against OnMobile, says Moily

Yesterday, OnMobile's Managing Director and CEO Arvind Rao resigned from the post amid allegations of financial irregularity

Press Trust of India / New Delhi Jul 10, 2012, 17:26 IST http://www.businessstandard.com/india/news/mca-will-look-into-allegations-against-onmobile-says-moily/178091/on

PHARMA COMPANIES WILL DO WELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Drug Sales In Emerging Markets To Match U.S. By 2016

By Drew Armstrong - Jul 12, 2012 4:30 PM GMT+0530

China, India, Brazil, Russia and 12 other emerging markets will make up almost one-third of global pharmaceutical spending within four years, as newly wealthy people and nations spend more on health care, a report shows.

Rising drug spending in 16 emerging pharmaceutical markets will lead the industry’s global sales growth by 2016, according to a report released today by the IMS Institute for Healthcare Informatics, a Parsippany, New Jersey-based research arm of drug sales analysis firm IMS Health Inc. As emerging markets grow, European government budget cuts and drugs losing U.S. patent protection will cut the buying power of those regions. “What’s driving it is the really strong economic growth across these markets,” Michael Kleinrock, director of research at the IMS institute, said of the emerging countries. “When millions of people come out of extreme poverty, they start to be able to afford basic medicines and services.”

In the U.S., the so-called patent cliff will peak in 2012 and 2013, with less than a 2 percent increase in U.S. drug sales those years, according to the report. America’s share of the projected $1.2 billion in worldwide drug spending in 2016 will fall to 31 percent from 34 percent in 2011. The EU and Japan’s spending also will decline to 23 percent of the global market in 2016 from 29 percent last year. The emerging markets will make up 30 percent of spending by 2016, compared with 20 percent in 2011. The report lists these countries as China, India, Brazil, Poland, Mexico, Romania,Turkey, Russia, South Africa, Thailand, Argentina, Indonesia, Egypt, Pakistan, Vietnam and Venezuela. Real Levi’s

Consumers in emerging markets have an appetite for products by brand-name and multinational generic drugmakers, Kleinrock said. “Their aspiration to get the real Levi’s instead of the fake is tangible. You see higher levels of branded generics.” Drugmakers led by Pfizer Inc. (PFE) are relying increasingly on those markets for growth. The New York-based company’s first- quarter revenue from Brazil, Russia, India, China, Mexico and Turkey grew 10 percent compared with a 15 percent decrease in U.S. sales, Pfizer reported.

Merck & Co. (MRK), meanwhile, saw its sales in emerging markets rise 11 percent while U.S. sales increased 7 percent, according to the company’s earnings filing.Generic drugmakers still make up the bulk of the sales in emerging markets, and have focused expansion efforts there. In April, Watson Pharmaceuticals Inc. (WPI) announced it would buy closely held drugmaker Actavis Group hf for 4.25 billion euros ($5.6 billion) to expand its reach in Europe and Asia. The move gives Watson, the third-biggest generic drugmaker by revenue, access to markets in China, India and Eastern Europe, according to Michael Faerm, a Credit Suisse analyst in New York. 

Latin America

Harald Stock, chief executive officer of closely held Grunenthal Group in Aachen, Germany, said his company is looking for acquisitions in Latin America, the main source of the generic drugmaker’s growth. He sees “sustainable” growth in the economies there. “It’s not an emerging market anymore,” Stock said in an interview in New York. In one respect, though, these countries are behind the U.S., EU, and Japan. Developed markets still spend far more per person on drugs than the 16 emerging countries in the IMS report. U.S. consumers will spend $892 per person on drugs in 2016 and Japan $644 a person, while $180 per person will be spent for medicines in Brazil and $33 in India, according to the report.

To contact the reporter on this story: Drew Armstrong in New York atdarmstrong17@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

http://www.blogger.com/blogger.g?blogID=349357092995168227#editor/target=post;postID=4431111360879471263

Focused MIND, YIELD very good results...

The fundamental SUCCESS principles are what make us today, are the software of our mind.It keeps the person running. So the software should be of the latest version, updated properly to make the  the latest  build available for usage. This starts with POSITIVE PARENTING THAT BECOMES INSPIRING PARENTING.They are always good things available in life to carry for the next day and to the rest of the life.
FOCUSED DETAILED DEEP UNDERSTANDING OF THE DEVELOPMENTS HAPPENING INTERNALLY AND EXTERNALLY HELPS TO BUILD A GOOD "MIND SOFTWARE"-MANAGES THE FUTURE BETTER THAN BEFORE.

Ratan Tata....FAILED TO IMPLEMENT...

Ratan Tata regret: 'Transparency' failure

AGENCIES

Posted: Monday, Jul 09, 2012 at 1621 hrs IST

New Delhi: Tata group Chairman Ratan Tata says he regrets not having been been able to make the conglomerate a "truly open, flat, transparent organisation".

"Perhaps internally, I have not been able to create the truly open, flat, transparent organisation that I had hoped we could do," Tata said when asked what he could not do that he wanted to during his tenure as the head of the Tata group.

Tata said his group, which was "a traditionally manufacturing company in a sellers market", did not succeed in "really embracing the customers' values".

The Tata group was dragged into the 2G spectrum allocation controversy after the tapes of corporate lobbyist Nira Radia were leaked to the media. The three licenses of Tata Teleservices were among the 122 licenses cancelled by the Supreme Court earlier this year.

Tata, however, hoped that he would be able to pass on the legacy to successfully move ahead without compromising value system and ethics.

"I think what I want the legacy to be would be to say that we achieved the growth and the prosperity that the group has had with the value system and ethical standards that we have tried to retain and not succumb to the pressures of, the subjective pressures that exist to get things done," Tata said in a TV interview.

Dwelling further on inability to achieve his goals, Tata said: "...I think we haven't, as a group been able to touch the levels of the population that I had hoped, the Nano is one example."

Serving the bottom of the pyramid in India with affordable products is a real and ongoing challenge and the Tata group has not succeeded in being innovative enough, he said.

Tata, who is set to step down in December from the helm of the USD 100 billion conglomerate, said that after retirement he would spend time on philanthropic activities related to rural development, water conservation and nutrition to children and pregnant women.

"I am going to continue to be the chairman of the foundation. I will focus on rural development, conservation of water and my most visible goal is to do something in nutrition for children in India and pregnant mothers. Because that would change the mental and physical health of our population in years to come," he added.

Tata group, through its various charitable initiatives, spends about 4.5 per cent of its net profit on philanthropic activities, Tata said.

Tata said India has two to three major social challenges such as energy and infrastructure, which were going to be stumbling blocks of progress if not dealt with. "...and the other is going to be water. We have inadequate system of conserving rain water...four-fifths of our rain water runs off into the sea," he added.

Tata said with consumption of underground water for agriculture, the country is going to have serious water issues sooner or later.

Amid the challenges, Tata said India's ever growing population, which was once considered to be a problem, is turning out to be an advantage for the country.

"Population is said to be a problem. Today it seems to be a bonus...Earlier over-population was considered to be a curse, it's not so today," he said, however, adding it was a double edged sword.

Tata said by 2035, India would have the largest working class population that would be an asset.

"At the same time you have to feed, you have to educate and you have to give jobs to all these people," he said, adding if it were to be done, it would become a major challenge and catastrophe.

"So, it's a two edged sword. If it is pursued correctly and dealt with correctly, it is an issue with tremendous power," Tata said.

http://www.financialexpress.com/news/ratan-tata-regret-transparency-failure/972114/0

BLOOMBERG REVEALED 4 YEARS AGO!!!!!!!!!!!!!

BREAKING: Barclays Revealed Libor Scandal Four Years Ago

By Jonathan Weil Jul 7, 2012 3:35 AM GMT+0530

How's this for prescient?

Check out the first couple of paragraphs of a Bloomberg News article from May 29, 2008, underthe headline, "Libor Banks Misstated Rates, Bond at Barclays Says." (Yes, the article ran more than four years before Barclays's $453 million settlement last month with U.S. and U.K. authorities for manipulating Libor.) The story begins:

About Jonathan Weil

Jonathan Weil joined Bloomberg News as a columnist in 2007, and his columns on finance and accounting won Best in the Business awards from the Society of American Business Editors and Writers in 2009 and 2010.

More about Jonathan Weil

Banks routinely misstated borrowing costs to the British Bankers' Association to avoid the perception they faced difficulty raising funds as credit markets seized up, said Tim Bond, a strategist at Barclays Capital.

"The rates the banks were posting to the BBA became a little bit divorced from reality," Bond, head of asset-allocation research in London, said in a Bloomberg Television interview. "We had one week in September where our treasurer, who takes his responsibilities pretty seriously, said: 'right, I've had enough of this, I'm going to quote the right rates.' All we got for our pains was a series of media articles saying that we were having difficulty financing."

Later, the article says:

Barclays Plc, the U.K.'s third-biggest bank and parent of Barclays Capital, quoted three-month dollar rates to the BBA that averaged 7 basis points more than those of their peers in the first week of September. Barclays dropped 9.1 percent on the London Stock Exchange that week, compared with the 5.5 percent decline in the 59-member Bloomberg Europe Banks and Financial Services Index.

"Other banks tried to push their head above the parapet on occasions as well, but with every attempt you were met with a lot of rumor and innuendo,'' Bond said in the interview. ``It wasn't a very easy environment.''

Bond's TV appearance came the same day as a front-page Wall Street Journal article that showed several large banks, including Citigroup Inc. and JPMorgan Chase & Co., had been "reporting significantly lower borrowing costs" for Libor "than what another market measure suggests they should be." (The market measure the Journal cited was the cost for credit-default insurance.) Both articles came up during discussion at a July 4 hearing where former Barclays Chief Executive Officer Robert Diamond testified to a U.K. parliamentary panel.

"So in May 2008 you have a strategist in your own organization who is stating that these borrowing costs have been misstated," said Jesse Norman, a member of the Treasury Select Committee, after reading aloud from the Bloomberg article. "How could it be possible that you couldn't have been aware of it at that time and indeed actively under some internal obligation to launch an investigation?"

Diamond dodged the question. "This isn't just Barclays, and you keep coming back to Barclays," he said. To which Norman replied: "Well, that's the institution for which you were responsible."

Later Diamond said to Norman: "I'm not excusing that behavior. But I think it's also appropriate for the committee to step back and say that it was a financial crisis and that there are broader industry implications. And all I'm saying is look at the behavior of Barclays in the context of what we did about it once we found out."

It doesn't look good. As Bloomberg View noted in an editorial today, Diamond claimed at the hearing that he learned only last month about e-mails showing that his bank had made false submissions on interest rates used to set Libor. Hmm.

(Jonathan Weil is a Bloomberg View columnist. Follow him on Twitter.)