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06 Jun 2017, 01:51
06 Jun 2017, 01:53
| FROM ISB Admissions Blog: Private Equity Attracts New Investments from Family Offices |
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Family office principals interviewed by Campden Wealth researchers for the new Private Equity and Co-Investing for Family Offices report, out today, said restricted access to high quality deals, limited team resources, and knowledge gaps were obstacles on direct investments. However, higher expected returns, absence of agent fees, and greater sense of control over operations and exit were attractions which prompted families to invest directly. Interviewees highlighted the importance of thorough due diligence and a team’s ability to grow the businesses that they intend to invest in as the key success factors. Family office executives pointed to the benefits of diversification and consistent deal flow as additional factors which attracted families to funds. Family offices are expected to bolster their already sizable investment in private equity in the coming years, the report added. On average, private equity made up 21% of a family office portfolio – the highest proportion of any asset class. Eight in 10 family offices intended to maintain or increase their allocations to this asset class going forward. Asked what message family offices should take from the report, Zuzanna Sojka, research manager at Campden Wealth, said the main factor which attracted family offices to private equity was the potential of higher returns. Campden Wealth, with support from US multinational private equity firm KKR, published Private Equity and Co-Investing for Family Offices today. The report built on quantitative data collected for Campden Wealth’s Global Family Office Report 2016 (GFO). Based on data collected for the GFO 2016, allocations to private equity represented over a fifth (21%) of the average family office portfolio. A 2% increase from 2015 was reported among multi-year participants in the study (family offices who participated in the GFO in 2015 and 2016). Family office executives who participated in qualitative interviews earlier this year, pointed to diversification benefits and the potential of higher returns as the key factors that attract them to private equity. Source: Beech, James., 1 June, 2017; https://www.campdenfb.com/article/privat ... ly-offices |
06 Jun 2017, 01:53
| FROM ISB Admissions Blog: Family Business: How do Values Fit In? |
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Business people often have a tendency to concentrate so much on their day-to-day business that they end up losing sight of some pretty important basic matters, like their values. Values form the unconscious base of everything we do, and they impact so many of our regular decisions without us even realizing it. A business’s values usually reflect those of the owners, executives and leadership. Values are always important, but they’re usually running in the background and aren’t really noticed, until there’s a clash somewhere along the line. Critical time to examine them is when anticipating a change in leadership (management and/or ownership). A business built on hard work, collaboration and diversity won’t likely do well if the incoming leadership espouses none of those same core principles. People talk about alignment a lot these days, and rightly so. What they don’t always mention is that the alignment of values is really at the base of much of this work. Family Values vs. Business Values Now, you may be inclined to believe that business values should guide the business, while family values should just “stay in the family” and should never have an influence on how the business operates. I would suggest that this type of thinking is not conducive to long-term success. When a family owns and leads a business, then that family’s values are important for the business. There doesn’t necessarily need to be a 100% overlap in family values and business values, but the more overlap the better, and ideally you want as much overlap as possible. How Do We Get This Right? Lots of consultants who work with businesses have tools and exercises that they use with teams in the business, to help them discover and align around key values for the business. If your business has already done that, that’s great. But, please don’t stop there. And, please resist the temptation to bring the results of that business values work to a session on the family’s values. Source: Legler, Steve., June 3, 2017; https://shiftyourfamilybusiness.com/2017 ... TU6UeuGPIU |
08 Jun 2017, 06:39
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12 Jun 2017, 21:00
| FROM ISB Admissions Blog: How to turn a start-up into a lasting family business |
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As much as 98 per cent of the world’s economic activity is accounted for by family businesses but for many companies, making that transition from entrepreneurship to a smoothly-run family business is difficult, says Allan Cohen, a professor in global leadership at Babson College, a US business school that specialises in entrepreneurship research. “When a business has been built from scratch, many entrepreneurs have difficulty letting go of running it, whether to experienced executives or their own children,” he says. That transition is made particularly difficult when the family member to whom the founder wants to pass the business is young. Founding a company is often seen as more exciting than inheriting a parent’s creation, according to Shaheena Janjuha Jivraj, a senior lecturer at Henley Business School, who has been researching family businesses for the last two decades. The transfer of power is easier when there is a clear successor. When there are multiple children, the risk is that someone feels left out, notes Bernard Rennell, global head of family governance and enterprise succession at HSBC. David Glassman, a visiting fellow at Cranfield School of Management, who coaches chief executives and advises on family business issues, says the key is to avoid favouritism or any perception of it. “Apply clear performance measures to all roles and monitor them for the sake of all,” Mr Glassman says. “This process, used judiciously, will spread a clear message of meritocracy to current and future employees.” However, Prof Cohen points out that it can be difficult for a founder entrepreneur to acknowledge the merits of a former dependent. Money is the root of many transfer problems, says Prof Cohen. “If the company is seen as the source of the family’s financial future, the concerns can be magnified about whether the family member is competent to protect that,” he says. Source: Moules, Jonathan., June 7, 2017, https://www.ft.com/content/2973b060-1aef-11e7-a266-12672483791a |
12 Jun 2017, 21:00
| FROM ISB Admissions Blog: Considerations for Family Businesses |
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A family business can range from a small mom and pop business to large multi-million dollar publicly traded companies. Family businesses and their leaders often experience many of the common problems of a regular business, but also have an added layer of problems and dilemmas related to unique family issues. An effective way to deal with these issues is the use of a team of qualified family business advisors. Family businesses are unique in that they must consider a balance between three different systems that exist. The first system is the business system. The second system is the ownership or governance system. The third system is the family system. Each family member could be included in one, two or all three of these systems. The goals of each of these systems may be very far apart. Each family business is unique and may require the help of family business advisors to help sort through the difficult family, business and governance issues. Sometimes a third-party point of view and objective guidance is helpful to the family in assessing and understanding the relationship a family has with its business. Choosing a qualified team of family business advisors with various multidisciplinary backgrounds will provide an objective and third party approach to helping the family, the business and its owners achieve their collective goals. The family business advisory team can be the “fall guy” for the difficult decisions that sometimes must be made by certain members of a family business. They can help the family business manage the process of change. Family business consultants work at the boundaries where there are overlaps between the three family business systems. For instance, they can help family business members decide whether they should treat on another as family members or employees. They can help with succession plans to ensure the needs of the family, the business and the shareholders are considered. They can also work with the family to make sure there is proper family representation on the board and that the board runs effectively. Source: Conover, Lynn A., June 6, 2017, https://www.curchin.com/considerations-family-businesses/ |
16 Jun 2017, 01:00
| FROM ISB Admissions Blog: How to Structure a Family Business |
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There are many reasons why building a family business, is appealing. You might want build something with your children, work with family members you know and respect, as well as creating a foundation for generational wealth. There are processes you need to structure to give your children the tools to one day take the reigns of your business. Challenges in Running a Family Business It can be tough to draw the line between professional and personal relationships, and that can seriously impact your family dynamic. Communication is essential for the success of your family business. Not expressing something that’s bothering you will only make it fester, and eventually it will come out in a destructive way. Not having defined roles can create confusion. You also need clearly defined performance goals for each position. Pay each family member a salary rather than letting them take from the till. And avoid giving family members positions simply because they’re related to you. While you might want to encourage your kids (while they’re young) to want to take over your business, that might not be the best path for them or the business. Some families require children of the owners to go to college and work for someone else at least two years before coming back to work for the family business. Vet Your Estate Plan Carefully Barry Banther, Senior Partner at Banther Consulting Corporation, discourages business owners from leaving their children a business in their estate unless they’re sure they will want to take it over, because that will almost always ensure business failure. He offers a better approach to passing down a business, “Create an environment where your children can earn ownership through sweat equity or a cash investment.” Do the Hard Work Up Front Family businesses are difficult to run and sustain, given the nature of people. Running a family business can be rewarding, but it requires deliberate planning, training and diligent work on your part as the leader of the business. Put in the effort to make sure there’s effective communication, set boundaries, institute merit-based promotions, and hold everyone accountable. And if you do your business could go on for generations to come. Source: Emerson, Melinda., June 14, 2017, https://www.huffingtonpost.com/entry/how-to-structure-a-family-business_us_5941c956e4b04c03fa2617ed |
16 Jun 2017, 01:00
| FROM ISB Admissions Blog: Why even fast growth tech firms can be family businesses |
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Ve Interactive is the latest high profile name that serves as a reminder that many tech scale-ups have failed. There are many causes, but it shows that the short term goal of making the participators wealthy does not always pay off. A scale-up can engage with a long-term strategy to remain owner-managed and a family business. Issues and challenges faced by scale-up businesses There are many challenges to overcome in scaling up your business; some of those challenges are about taking time to consider and implement the changes you will need to make for the long term – taking the long view: Hiring good people – take time to pick the people you are going to work with, whether that’s your board, your staff, your suppliers or your investors. Hire quality, you need to take a long-term view, how do those people fit into the bigger plan, make sure those people can fit into your vision, your culture and your team, especially if the business is family-owned. Managing issues – address key issues as they arise, especially as people can be out of their comfort zone in a fast growth business. Family businesses can raise specific issues such as succession planning, family working in the business and separating family from work. Leadership and culture – it is likely that the management team and structure will need to change to adapt to growth of the business. You will want to take efforts to retain the integrity of the business’ culture and ensure people are in the right roles, scaling really challenges that as the number of people increases. Product demand – with growth comes increased emphasis on sales. You should first focus on the creation of long-term demand for your product or service, focusing your strategy on how to create sustainable buyer demand. Why a family business? The family business has a place in the fast-growth tech world, the strengths of the family firm can help the business remain sustainable. There are challenges, you have to manage succession, handle conflict, honour the culture, make decisions and take action – but these are challenges any scaling business faces. The advantage of a family business is the team knows who they are and what they want, and their certainty of culture gives the business focus, and that is a key driver for any scaling business. Investors Getting investment does not provide an exit, it brings in the cash to continue scaling and addressing the challenges that raises. The best investors will also be highly experienced entrepreneurs themselves and have deep networks that can help accelerate the growth of their portfolio companies. This can be a game changer for a family business to grow the business more quickly than they would have done under their own steam. At the same time, they need to appreciate that the culture of the business can change dramatically as a result with new personalities, more rigorous reporting and governance processes. Conclusion A scale-up can engage with a long-term strategy to remain owner-managed and stay a family business. Family businesses can deliver high performance, using their commitment, hard work, knowledge and culture to meet the challenges of the scale-up journey. Source: Nair, Praseeda., June 8, 2017, https://www.growthbusiness.co.uk/the-pros-and-cons-of-business-leasing-products-for-smes-2551105/ |
18 Jun 2017, 01:00
| FROM ISB Admissions Blog: My journey of being a father and a student at ISB -by Avneet Sidhu PGP co 2018 |
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I was working as a senior consultant with Infosys before coming to ISB and I have over 11 years of experience as a tech consultant. Coming to ISB at this point in my life was challenging in more ways than one. Two and a half years ago, I became the father of a little bundle of joy, Samroz, and the experience was life changing. The sheer joy of raising a child and watching him reach small but very significant milestones of his life, has been beyond words. Even while I was preparing for the GMAT, it was difficult for me to imagine being away from him for a year. ISB was the only B-School on my list and luckily I got Mohali campus closer to my family in Chandigarh. Not surprisingly, it’s been quite tough to get back into the grind as a parent, that too in an academically rigorous program such as the PGP at ISB. It’s been a little unsettling for Samroz and me, as we cannot spend as much time with each other as we would like to. This was something I knew beforehand and I thought I was mentally prepared for it but it still feels like a challenge. However, my family has been very encouraging and supported me throughout this transition. In fact, when I was contemplating whether I should go back to school or not, my in-laws told me, “If you really want to do this, we are there to raise your son.” My wife is pursuing a PhD and my son doesn’t stay on campus yet. So either I visit them or they visit me every two-three days. We feel much more comfortable having our son on campus instead of taking him to a mall or some other market nearby. It feels very safe, there are so many lawns for Samroz to run around and a very thoughtfully-made play area. The thoughtfully designed infrastructure of the campus, friendly staff, security, housekeeping and even families with kids on the campus makes it an apt place for us to spend time with families and kids on campus with a rigorous class schedule. But Samroz’s favorite place is Jujus Cafe. Even though the board games in the café are not meant for a toddler, he likes to play around with them while my wife and I have tea and snacks. He also likes to go inside the swimming pool and I am thinking of teaching him swimming soon. I am really glad my son enjoys spending his time on campus and I’m sure he’ll grow up having fond memories of the school. |
18 Jun 2017, 01:01
| FROM ISB PGP Admissions Director Blog: My journey of being a father and a student at ISB -by Avneet Sidhu PGP co 2018 |
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I was working as a senior consultant with Infosys before coming to ISB and I have over 11 years of experience as a tech consultant. Coming to ISB at this point in my life was challenging in more ways than one. Two and a half years ago, I became the father of a little bundle of joy, Samroz, and the experience was life changing. The sheer joy of raising a child and watching him reach small but very significant milestones of his life, has been beyond words. Even while I was preparing for the GMAT, it was difficult for me to imagine being away from him for a year. ISB was the only B-School on my list and luckily I got Mohali campus closer to my family in Chandigarh. Not surprisingly, it’s been quite tough to get back into the grind as a parent, that too in an academically rigorous program such as the PGP at ISB. It’s been a little unsettling for Samroz and me, as we cannot spend as much time with each other as we would like to. This was something I knew beforehand and I thought I was mentally prepared for it but it still feels like a challenge. However, my family has been very encouraging and supported me throughout this transition. In fact, when I was contemplating whether I should go back to school or not, my in-laws told me, “If you really want to do this, we are there to raise your son.” My wife is pursuing a PhD and my son doesn’t stay on campus yet. So either I visit them or they visit me every two-three days. We feel much more comfortable having our son on campus instead of taking him to a mall or some other market nearby. It feels very safe, there are so many lawns for Samroz to run around and a very thoughtfully-made play area. The thoughtfully designed infrastructure of the campus, friendly staff, security, housekeeping and even families with kids on the campus makes it an apt place for us to spend time with families and kids on campus with a rigorous class schedule. But Samroz’s favorite place is Jujus Cafe. Even though the board games in the café are not meant for a toddler, he likes to play around with them while my wife and I have tea and snacks. He also likes to go inside the swimming pool and I am thinking of teaching him swimming soon. I am really glad my son enjoys spending his time on campus and I’m sure he’ll grow up having fond memories of the school. |
23 Jun 2017, 00:00
| FROM ISB Admissions Blog: British Empire Trust manager focuses on ‘family businesses’ for returns |
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Joe Bauernfreund , who runs the £993 million British Empire Investment Trust, has revealed how he is investing in family holding companies to generate returns. The British Empire Investment Trust has increased its dividend for each of the past thirty years. The trust tends to invest in the holding companies of wealthy families around the world. The fund manager commented that, ‘whilst investors may not be familiar with the names of the family holding companies, they will know the businesses in which they are invested.’ He cited the example of Investor, the family holding company of the Swedish Wallenberg family. Investor has significant shareholdings in the pharmaceutical company Astra Zeneca, and the telecoms company Ericsson, amongst other investments. Bauernfreund remarked that Investor shares trade at a stout discount to the value of the assets of the company, and so represent good value. The second slug of the portfolio’s capital is held in investment trusts, which themselves trade at a discount. The fund manager commented that, ‘we don’t really buy a lot of the plain vanilla investment trusts that just happen to be trading at discounts right now. We also don’t buy something just because it is on a big discount and we hope something will happen. We only buy trusts we want to own, that are on a discount.’ A very significant slug of the capital of the British Empire Investment Trust has been deployed into private equity investment trusts for years. The British Empire Investment Trust has returned 52 per cent over the past year, compared with 40 per cent for the average trust in the sector in the same time period. Source: Thorpe, David., June 19, 2017, https://www.whatinvestment.co.uk/top-investor-moore-buys-ftse-100-stock-significant-earnings-growth-potential-2553752/ |
23 Jun 2017, 00:00
| FROM ISB Admissions Blog: Overcoming the third generation conundrum |
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It has been said that the first generation accumulates, the second preserves and the third squanders. And experienced bankers have seen their fair share of corporate family-based customers, so promising in earlier generations, lose direction or even implode when the grandchildren take over. Recognising the conundrum before such companies, OCBC Bank (Malaysia) Berhad embarked on a journey a year ago to devise disciplines to help those facing such issues to take the proverbial bull by its horns so they avoid falling on the wayside. In an interview with StarBiz, the bank’s head of corporate and commercial banking Jeffrey Teoh outlined the issues and the solutions that are currently at a family-based company’s disposal. “Sometimes the third generation is simply no longer interested in the business. Or perhaps they remain interested but do not wish to be involved directly. “And there are situations where they might wish to expand the entity to embrace members that lie beyond the family sphere. How should they go about the enterprise? “This is where we, as a bank, step in to counsel them and draw up workable plans that can be executed. Our internal parlance for this exercise is Family Office Wealth Coordination (FOWC),” he says. Teoh outlines three typical scenarios that successful large family-owned businesses face, which the bank is in a position to assist in. They are when the family wishes to expand the business while maintaining full control, when they wish to expand whilst allowing room for non-family members to take a stake, and when they wish to exit the business altogether although it is thriving. “It is futile to fight things here, and worse, to fight with each other internally over this. Each of these scenarios requires a well-through-out customised approach; that is what we bring to the table as a Bank that has been around for 85 years now. “This is all very different from succession planning, which is far more straightforward. This is about charting the next big move for the business. And it is not simply about wealth preservation either, of which there is an abundance of solutions out there including estate planning and asset management services. “This might involve consolidating a family’s wealth holistically from private to corporate holding, redefining the family’s financial strategy over the long term and aligning it to a defined philosophy and, indeed, identifying the wealth management strategies that are appropriate to the objectives at hand,” he adds. Source: Dhesi, Daljit., June 20, 2017, https://www.thestar.com.my/business/business-news/2017/06/20/overcoming-the-third-generation-conundrum/#hVrBrqOzzg4A1cXJ.99 |
29 Jun 2017, 21:00
| FROM ISB Admissions Blog: How PGPpro fit in – Varada Madge |
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As they say Life has plans for you! Much of that is true in my case. After completing the highest level of education- M.Phil and Ph.D I just wanted to sit back, relax and continue with my work. I never thought of what next in academics! But when learning and growing is in your being, something as great as ISB comes and you just start walking on path and trust that in the end you will take off the road and fly. This is what ISB is to me. Taking on a game of balancing between personal life and work wasn’t easy and now I had PGPPRO. While the daily schedule of keeping up with all targets and deliverable has become taxing, I have friends and family besides me who take care of me in this phase. They are my pillars of strength and fulfilling their wishes of seeing me as a powerful business woman has now become my vision. I have been working in the Social Development Sector (Healthcare) as a Regional Manager- Research and Evidence Building. Considering the philanthropic nature of healthcare, I wasn’t quite sure about health being a business. From PGPPRO class, I started to look at the world of healthcare very differently. I began to realise that providing health services like vaccination and screening, awareness programs, lowering costs, behaviour change communication, access to services, publications, media highlights, door to door marketing of your services and meeting the government to name a few, is branding my business especially when I am involved in provision of care and services. Much of the ‘business’ I was already handling at large but ISB gave a new language to my communication and I feel confident in the business world. PGPPRO has given a new vision to my career and thelearning’s from the course are getting better with every passing day. It instils the skills of a good leader who demonstrates what is possible is business world. It has taught me strategies to make appropriate choice for mybusiness. It is challenging to be in a course that will make you go through cases and study materials that you haven’t seen or heard before, one needs to work in groups and at times have their solutions challenged. In the classrooms we have buddies with different educational backgrounds with varied professional experiences. This helps us to learn from each other during assignments and informal interactions. It enhances peer learning. It is a privilege to have dedicated and world class professors, assistants and everyone at ISB who guide us as and when required and as they proudly say, “our time is your time.” This totally makes you be at home. The program design and methodology is very intense, developed at a fast pace and it keeps you on your toes. It will make you what you are. It will make you go through this roller coaster journey and in the end it is all worth it as leadership is all about transformation and enhancing your skills. — Varada Madge is a PGPpro Candidate from the Class of 2017 |
30 Jun 2017, 01:00
| FROM ISB Admissions Blog: Soriano: A 500-year-old family business |
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In an insightful research material by Schwartz and Bergfeld, the authors pointed to one country that seemed to challenge the third generation curse much better than others. Japan has seven out of the 10 oldest companies on the planet and also has the highest concentration of old family businesses by any measure such as GDP (gross domestic product), population and land mass. According to a 2008 study from the Bank of Korea, the world had 5,586 companies that were older than 200 years. In the same study, Japan was number one with 3,146 firms or 56 percent; the second was Germany with 837 or 15 percent; the Netherlands came in third with 222, and fourth was France with 196 companies. But it is not only the extreme cases of very old companies that are surprising. The overall life expectancy of a Japanese family business is higher in general. According to professor Toshio Goto from the Japan University of Economics in Tokyo, the average lifetime of a Japanese family business in 2005 was 52 years, more than double that of its American counterparts. If family businesses from around the globe strive for future prosperity and family survival in an increasingly volatile, complex and ambiguous world, how does a tradition-rich company like Japan’s Toraya Confectionery Company manage to keep pace with an ever-changing world? Even with a great idea, thorough research and hours and hours of hard work, one rule still applies: Nothing is certain in life and in business. Toraya Confectionery Co. Ltd. is a Japanese confectionery company founded by Enchu Kurokawa in early 16th century Kyoto. At present, Toraya has three factories and approximately 80 shops throughout Japan, in addition to a boutique in Paris. Running a business for almost 500 years is not without challenges, mainly in the form of disasters, change in society, economic transformation and several World War upheavals, but Toraya countered by shifting from being the imperial family’s purveyor to opening retail stores. Source: Soriano, Enrique M., June 19, 2017, https://www.sunstar.com.ph/cebu/business/2017/06/26/soriano-500-year-old-family-business-part-1-548399 |
30 Jun 2017, 01:00
| FROM ISB Admissions Blog: Algorithms will push investors into private companies – and family offices will lead the charge |
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The investment push into private companies is one of the big investment themes of the post-financial crisis, and its just getting going. This view was reinforced by what Robert Soros, the son of one of the great investment gurus of the last 50 years, George Soros, said this week. Speaking about his departure from his father’s hedge fund-cum-family office, Soros Fund Management, Robert told Bloomberg: “So much is driven by algorithms, and the more predictive quantitative models get, the more difficult it is to produce excess returns.” Robert is setting up Soros Capital, which will concentrate on direct deals in startups and investing in other illiquid assets, he said in the interview. At this end of the investment spectrum, Robert no doubt reckons human decision-making can still make a difference. He might also be aware that trading public stocks, either through buying or selling them, or through hedge fund strategies, isn’t being helped by shrinking public markets. That shrinkage – coupled with the growing influence of artificial intelligence/algorithms in public markets – is even affecting the investment patterns of wealth managers. But the big private company investing will predominantly be driven by the private equity houses, backed by institutional and high net worth money – and, of course, family offices. Family offices and all investors will continue to drive their investment strategy through public markets. But as the role of AI in determining investment strategies within these markets increases, the human side of investing will be directed more towards private market investing. Robert Soros and his ilk still want to use their brains… Source: Bain, David., June 28, 2017, https://www.famcap.com/articles/2017/6/28/algorithms-will-push-investors-more-into-private-companies-and-family-offices-will-lead-the-charge |
04 Jul 2017, 05:00
| FROM ISB Admissions Blog: Pride Parade at ISB – By Srijeet Bhattacharjee |
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The stereotype of a money-hungry, profit-seeking corporate employee is well established in mainstream culture. A large part of our current issues with materialism and lack of empathy is attributed to this class of people. Which is what makes the Indian School of Business’ Pride Walk in support of the LGBT+ community, across both its campuses on the 25th of June, such an encouraging and heartwarming effort. A greater emphasis on social consciousness, diversity and inclusion is perhaps what sets the current generation apart from any other, and nowhere was that more evident than in the overwhelming numbers in which the students at ISB turned up to be a part of this endeavor. On a Sunday afternoon, even with assignments and exams breathing down their necks as usual, ISB’s students proved that their priorities were firmly in place. And they did so with all the gusto and enthusiasm that the school is now famous for. With rainbow flags, colorful wigs, painted faces and the sound of laughter ringing through the campus; it was both a celebration as well as an emphatic triumph. The event owes its success, in no small part, to the tireless efforts of Sarab Gurshan Singh; a current student who coordinates the LGBT+ special interest group’s efforts on campus, to raise awareness about the trials and tribulations faced by this much marginalized community among the aspiring business leaders of tomorrow. “About 2 weeks before the scheduled pride parade, I released a fun, informative video on LGBT+ to make everyone understand why and for whom are we celebrating the pride month for”, he said. “Soon after the video went up, I started working with a local friend to get massive rainbow flags made, which were put up at the Atrium, the Rec Centre, the Student Villages and all across campus. The scale was important because we wanted everyone to see these flags all around them, and help them understand that there is diversity everywhere we look, be it in sexual preferences or life experiences. The entire student body was involved; from the Student Life Council, who sourced all the accessories that were used, to volunteers and student representatives, to even the spouses of those who are studying here. The outpouring of energy and enthusiasm from the hundreds of people who showed up, as well as the overwhelmingly positive response after the event, has been extremely heartwarming.” While the group has only been in existence for slightly over a year (it was initiated by last year’s batch), other premier institutions across the country have also taken up the mantle of ensuring discourse and discussion on this matter. ISB plans to reach out to some of them over the course of the current year, as well as continue to have at least one event on campus every term, to ensure that the interest and education of its students is sustained. Seeing how these very students will be responsible, in the near future, for hiring people, framing company policies and contributing to the overall working environment of boardrooms across every sector, the magnitude of events such as the Pride Walk can in no way be understated. For any social change to have a lasting impact, it is overwhelmingly important for it to occur organically. If that is truly the case, the students at both campuses (Hyderabad and Mohali) of the Indian School of Business, are off to the best possible start. — Srijeet Bhattacharjee, Class of 2018 |
04 Jul 2017, 21:00
| FROM ISB Admissions Blog: Pride Parade at ISB – By Srijeet Bhattacharjee, Class of 2018 |
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The stereotype of a money-hungry, profit-seeking corporate employee is well established in mainstream culture. A large part of our current issues with materialism and lack of empathy is attributed to this class of people. Which is what makes the Indian School of Business’ Pride Walk in support of the LGBT+ community, across both its campuses on the 25th of June, such an encouraging and heartwarming effort. A greater emphasis on social consciousness, diversity and inclusion is perhaps what sets the current generation apart from any other, and nowhere was that more evident than in the overwhelming numbers in which the students at ISB turned up to be a part of this endeavor. On a Sunday afternoon, even with assignments and exams breathing down their necks as usual, ISB’s students proved that their priorities were firmly in place. And they did so with all the gusto and enthusiasm that the school is now famous for. With rainbow flags, colorful wigs, painted faces and the sound of laughter ringing through the campus; it was both a celebration as well as an emphatic triumph. The event owes its success, in no small part, to the tireless efforts of Sarab Gurshan Singh; a current student who coordinates the LGBT+ special interest group’s efforts on campus, to raise awareness about the trials and tribulations faced by this much marginalized community among the aspiring business leaders of tomorrow. “About 2 weeks before the scheduled pride parade, I released a fun, informative video on LGBT+ to make everyone understand why and for whom are we celebrating the pride month for”, he said. “Soon after the video went up, I started working with a local friend to get massive rainbow flags made, which were put up at the Atrium, the Rec Centre, the Student Villages and all across campus. The scale was important because we wanted everyone to see these flags all around them, and help them understand that there is diversity everywhere we look, be it in sexual preferences or life experiences. The entire student body was involved; from the Student Life Council, who sourced all the accessories that were used, to volunteers and student representatives, to even the spouses of those who are studying here. The outpouring of energy and enthusiasm from the hundreds of people who showed up, as well as the overwhelmingly positive response after the event, has been extremely heartwarming.” While the group has only been in existence for slightly over a year (it was initiated by last year’s batch), other premier institutions across the country have also taken up the mantle of ensuring discourse and discussion on this matter. ISB plans to reach out to some of them over the course of the current year, as well as continue to have at least one event on campus every term, to ensure that the interest and education of its students is sustained. Seeing how these very students will be responsible, in the near future, for hiring people, framing company policies and contributing to the overall working environment of boardrooms across every sector, the magnitude of events such as the Pride Walk can in no way be understated. For any social change to have a lasting impact, it is overwhelmingly important for it to occur organically. If that is truly the case, the students at both campuses (Hyderabad and Mohali) of the Indian School of Business, are off to the best possible start.  — Srijeet Bhattacharjee, Class of 2018 |
04 Jul 2017, 21:01
| FROM ISB PGP Admissions Director Blog: Pride Parade at ISB – By Srijeet Bhattacharjee, Class of 2018 |
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The stereotype of a money-hungry, profit-seeking corporate employee is well established in mainstream culture. A large part of our current issues with materialism and lack of empathy is attributed to this class of people. Which is what makes the Indian School of Business’ Pride Walk in support of the LGBT+ community, across both its campuses on the 25th of June, such an encouraging and heartwarming effort. A greater emphasis on social consciousness, diversity and inclusion is perhaps what sets the current generation apart from any other, and nowhere was that more evident than in the overwhelming numbers in which the students at ISB turned up to be a part of this endeavor. On a Sunday afternoon, even with assignments and exams breathing down their necks as usual, ISB’s students proved that their priorities were firmly in place. And they did so with all the gusto and enthusiasm that the school is now famous for. With rainbow flags, colorful wigs, painted faces and the sound of laughter ringing through the campus; it was both a celebration as well as an emphatic triumph. The event owes its success, in no small part, to the tireless efforts of Sarab Gurshan Singh; a current student who coordinates the LGBT+ special interest group’s efforts on campus, to raise awareness about the trials and tribulations faced by this much marginalized community among the aspiring business leaders of tomorrow. “About 2 weeks before the scheduled pride parade, I released a fun, informative video on LGBT+ to make everyone understand why and for whom are we celebrating the pride month for”, he said. “Soon after the video went up, I started working with a local friend to get massive rainbow flags made, which were put up at the Atrium, the Rec Centre, the Student Villages and all across campus. The scale was important because we wanted everyone to see these flags all around them, and help them understand that there is diversity everywhere we look, be it in sexual preferences or life experiences. The entire student body was involved; from the Student Life Council, who sourced all the accessories that were used, to volunteers and student representatives, to even the spouses of those who are studying here. The outpouring of energy and enthusiasm from the hundreds of people who showed up, as well as the overwhelmingly positive response after the event, has been extremely heartwarming.” While the group has only been in existence for slightly over a year (it was initiated by last year’s batch), other premier institutions across the country have also taken up the mantle of ensuring discourse and discussion on this matter. ISB plans to reach out to some of them over the course of the current year, as well as continue to have at least one event on campus every term, to ensure that the interest and education of its students is sustained. Seeing how these very students will be responsible, in the near future, for hiring people, framing company policies and contributing to the overall working environment of boardrooms across every sector, the magnitude of events such as the Pride Walk can in no way be understated. For any social change to have a lasting impact, it is overwhelmingly important for it to occur organically. If that is truly the case, the students at both campuses (Hyderabad and Mohali) of the Indian School of Business, are off to the best possible start. — Srijeet Bhattacharjee, Class of 2018 |
05 Jul 2017, 04:00
| FROM ISB Admissions Blog: This is test post!!!!! |
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07 Jul 2017, 00:00
| FROM ISB Admissions Blog: This Company Grew to $70 Million When the Kids Took Over for Mom and Dad |
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Teddy Fong runs Million Dollar Baby, a $70 million children’s furniture wholesaler his parents, Daniel and Maryann Fong, started in 1990. Almost three decades ago, Daniel Fong was a venture capitalist with an urge to start a company. He did some research and bought and then merged two baby-furniture wholesalers, which had low overhead and were profitable. Teddy and his sister, Tracy, grew up roller-skating around MDB’s warehouse, sometimes helping package nuts and bolts, but Daniel didn’t expect them to join the business. He had worked reluctantly in his own father’s textile company for four years, and didn’t want to apply that pressure to his kids. Both went to Harvard, but in 2004, after Maryann developed colon cancer, Tracy put off an art curating job at Sotheby’s in New York City to come home–and never left. Teddy graduated in 2006, interned at ESPN, worked briefly as a movie producer’s assistant, and then followed Tracy’s lead. Daniel had them start in junior roles. Over the years, MDB had become an extended family affair. Daniel’s younger sister, Julia Fong Yip, joined in the early 1990s and eventually became the company’s VP of talent management, and his older sister’s husband, John Kwok, became MDB’s CFO. Other spouses entered the fold too–Tracy’s husband, Eric Lin, a trained architect, was hired in 2011 as MDB’s head of product development, while Teddy’s wife, Tiffany, who once worked as Steve Jobs’s assistant, became MDB’s creative director in 2015. By 2014, Daniel was preparing to pass the CEO torch. Tracy wasn’t ready to take the helm, so her brother and father decided to share the role for a year, until 2015, when Teddy became the sole CEO. The elder Fong–who gave himself the title of teacher–gestured toward his son’s autonomy, announcing to employees that a new direction was healthy in a family business. But in strategy sessions and management meetings, Daniel’s voice retained its outsize influence, and employees often became confused about whose lead to follow. To bring clarity to everyone’s roles, the family hired a leadership training expert who set up quarterly meetings. At one, the expert addressed what he diagnosed as Daniel’s “seagull” problem: Despite the fact that he’d handed over the CEO role to Teddy, Daniel had a tendency to swoop in, crap all over the place, and fly away. “That was an interesting, tough conversation,” says Teddy. It’s still a process, but now Daniel strives to use suggestive language instead of directives. “Comments like that I love,” says Daniel. “Without that, I can’t improve.” Source: Blakely, Lindsay., July/August 2017, Inc. Magazine, https://www.inc.com/magazine/201707/lindsay-blakely/family-business-million-dollar-baby.html?cid=mustread0 |
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Hi Generic [Bot],
Here are updates for you:
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