Survive – from taking your MBA a bit too seriously

In the inauguration of the post-MBA specialization year-long course on Strategic Management in IIM Calcutta, the legendary Prof. Ranjan Das came to the dais and asked “How many of a read a book called ‘The power of NOW’? All 35 people kept their hands hidden. Then he lectured for an hour on behavior, life and attitude. We were mesmerized, but could not help feel desolate. What is the relation of all this with StratMan, (except a statement that SM is all about behavior) ? Then for a year, the deeper we went, we understood that the essence of the whole subject had been taught in a nutshell in the first one hour.

I have continued studying SM even after that and for years I have been teaching it in different management Institute, but I never forget that lesson. Al learning turn towards philosophy at one time and after a certain level, because that level concerns with the concentrated wisdom, the essence of the learning. I have continued to give that in my first class of the term, to the utter dismay of the students, but it is fun to give the last scene first and then show the movie in an unhurried flashback.

Dealing with the students, not only in the management Institutes but also of the schools and colleges in my training sessions of BodhiTree, I get to see a lot of them taking their degree or the course too seriously. They try to discuss the nuances (the more difficult, the merrier) everywhere and in every place (don’t know if they try to talk about these with their girlfriends even in odd times). Is it is focus or is it is kind of ego-feeding? I often see a strange kind of showmanship in these efforts, the one-up-man-ship that was elegantly demonstrated in the Hitler-Mussolini meeting in the “Great Dictator”. I had a junior (in my dept. but 2/3 levels down) who always thought of unusual ways to score a point with me, sort of indirect oiling, to show that he is ahead of the others. I hated this but he was insistent. Say when I am having my lunch in the canteen, he will come up and sit with me (his peers are sitting in another table) and start discussing a delicate issue in Insurance. After a few time, I told him “I had to pass the whole thing from Licentiate to Fellow in under 3 years and didn’t get the 10-12 years time like others. So, you can understand, I did not have to time to study and have very limited knowledge”. The sarcasm shot past him and the next day he came to my lunch-table to discuss another issue which should not have affected him at all. This time I flatly told that I charge to discuss official things at my leisure time. Such people probably tend to their facebook account or any other forums as academic discussion boards and ruthlessly down-ride all things less glamorous or less knowledge-based. World was never short of pompous asses.

I hate the concept that the subjects are often theoretically taught, with an eye on finishing the syllabus and the exam purposes. While I did just that in my last term in my alma mater, it was under a situation of exigency. Otherwise I try to give the essence of the subject and whatever are there in the books, they can just read that (I even give the chapters or pages). I am grateful to God for the chance of being in IIM as that provided a new approach of thinking itself (further honed by the Strategic Management Forum in other IIMs) and a new view towards life. Prof. Saugata Ray (now dean at IIM_C), while teaching financial strategy, said “however much I teach you, you still read the book ‘Rich Dad, Poor Dad’ nicely, otherwise you won’t be able to really appreciate the value of tangible assets or their creation”. I found that an understatement, after reading the book. My brother, a brilliant doctor, has probably earned (God knows how many) times of his whole life’s salary and fees from investments in property and shares. He could as well have earned even more if he changed his profession altogether but he didn’t care, obviously. Aswat Damodaran books are not enough to teach you the essence, he gives you the house. It’s then over to life, to teach you to make it a home. I say “A SM course cannot teach you personal strategy unless you read ‘The Godfather’ or the relationship strategy without reading the art of war, where Sun Tzu says that a great commander wins a war without bloodshed”.
I personally own several properties, all of which have given me mind-boggling returns. At least one opportunity I missed by a whisker has haunted me for years and gave me a notional loss amounting to several years of my salary (net of tax) even when I was a very successful professional. Still, while I am not in a position to buy any more, I act like a listening post and insist to all my friends that any opportunity of a good investment (even without judging) should be informed to me. If I cannot buy, my relatives and friends are there. And I am not a broker, and never charged a paisa, nor will I. I do this to others as a grateful service for the fact that they are my well-wishers. I often find this attitude, most among the Bengalis unfortunately, that they take any real estate maneuvers as much below their dignity. The result is for all to see. 70% of Kolkata is gone, and the rest is goingggg..

In my SM classes, I always give quotes, stories, anecdotes and book-names so that the real objective is fulfilled. The real objective to me, is to become smarter and happy and rich. Strategy says everything relates to the relevance to the objectives. So, to me, objective is supreme. That is why I try to teach all my students, my children that is, to keep one eye all the time for the opportunities that are going past them. 99% will be irrelevant or not applicable or impractical, but the rest 1% will give a 100 times return on the effort. If you do not respect opportunity, it will stop coming to you. I go on telling them “Your salary can never make you rich, opportunities can”.

But I still find that that some people, prefer being dumber, complaining and, well, MBA! Then I respect their choice.