JOBS & CAREERS
 


Are you GAME for it?
Love for sports and a penchant for management can lead you to the thrilling and glamorous field of sports management, writes Usha Albuquerque
A few years ago the only sport that got any TV coverage was cricket. The only sport that most youngsters wanted to take up was cricket. With little money and less hope of success, sports have for years taken a backseat even in urban well-to-do India.

TREND MILL
Culinary queens
Women can dish out an excellent career recipes by becoming professional chefs, writes Hemant Kumar Kochar
They may admire the drive and skill of women contestants in Master Chef India contest, but a large majority of avid viewers are skeptical about their success in this profession. Reason? Though women have always been typecast in the role of a home maker with looking after children and take care of household chores like cooking being their main duties, but surprisingly very few women were accepted into professional kitchens till recently.

OFFICE MANTRA
No lip service, please
Service provided with sincerity and honesty will go a long way in enhancing the worth of the service provider as well as the company, writes D.C. Sharma
Motivation guru Jim Rohn says that in order to get what you want means to help others get what they want. In the modern marketing scenario people are just into money making. Almost 80 per cent bosses encourage their workers to get clients by hook or by crook little realising that the satisfaction they get by doing so is very transitory just like standing on a pedestal of sand.

Women in danger zone
Women in jobs characterised by high demands and low control, as well as jobs with high demands but a high sense of control are at higher risk for heart disease long term
A new research has revealed that women who are under high job strain have a 40 per cent increased risk of cardiovascular disease and the need for procedures to open blocked arteries, compared to those with low job strain. In addition, job insecurity was associated with risk factors for cardiovascular disease such as high blood pressure, increased cholesterol and excess body weight.

Catching them young
Over 3,000 students of Manav Rachna International University and 5,000 children at the Manav Rachna International Schools in Gurgaon and Faridabad will benefit from skill-centric courses soon. Aspire, a Gurgaon-based company engaged in embedded employability education and skills development, has announced a five-year, exclusive partnership for India with iCarnegie, a subsidiary of Carnegie Mellon University, Pittsburgh, PA (USA); and, a five-year collaboration with Manav Rachna Educational Institutions (MREI) at the MRIU campus in Faridabad.

Careercature
Sandeep Joshi

Careercature
Sir, this is the new batch of motivational speakers recruited to motivate the earlier one.

Australia ups English standards for students
Australian Immigration Minister Chris Bowen has reportedly imposed serious standards of English on the country’s multi-billion-dollar international student business by changing its skilled migration test to favour potential migrants with higher skills, experience and better command over the English language.

FOOD FOR THOUGHT
Presenteeism picture
Washington: Presenteeism, a word that applies to people who are less productive at work because of health issues, costs employers as much as three times the dollar amount as absenteeism in terms of lost productivity, some scholars have estimated. But researchers at University of Michigan believe those numbers may be inaccurate.

Happiness @ work
Gems of ancient wisdom
Captain, lead
Becoming a boss not only means a raise in pay or rank, but also an increase in responsibilities and perspective. Show you are worthy of that promotion lest you and your juniors should suffer. When the siege of Anandpur Sahib had dragged on for six long months, Guru Gobind Singh decided to rise to the occasion.

Pervin MalhotraCareer Hotline
Pervin Malhotra

  • Essentials of entrepreneurship

  • Actuarial facts

  • Scope for medical professionals in BPOs

  • The research route





 

Are you GAME for it?
Love for sports and a penchant for management can lead you to the thrilling and glamorous field of sports management, writes Usha Albuquerque

What is it?

Promoting a sport is one of the prime responsibilities of sports management organisations. This not only involves the management of sporting talent and events, but also deals with bringing in sponsorships, handling sports promotion, media coverage, delving into sports research and data, managing stadia, broadcast of sporting events and so on, by professionally qualified people.

A few years ago the only sport that got any TV coverage was cricket. The only sport that most youngsters wanted to take up was cricket. With little money and less hope of success, sports have for years taken a backseat even in urban well-to-do India. Most of the talent remains latent, and the potential is vastly untapped largely because of poor sports administration, and poor financial support. And even though the IPL has opened the doors a little wider for talent in cricket, it is the recent Commonwealth Games that has brought some glimmer to a career in other sports as well. Gagan Narang, Sushil Kumar, Saina Nehwal are household names today, and the 101 medal tally at the CWG with sports like rifle shooting, wrestling, archery coming to the fore have opened the doors to a whole new world of opportunities for talented young sportspeople in a host of sporting events. More than that it has brought sports onto the centre stage where it is now possible to talk about a career in sports , not only as a sportsperson, but also in areas such as the management of sports and sporting talent.

CHANGED FOCUS

Nevertheless it is only a handful of sports such as cricket, tennis, golf and, to a lesser extent, badminton and cue sports that can be said to be well organised. Sports management is trying to change that. By bringing in sponsorships and marketing support, sports management companies are creating opportunities for sporting talent and opening avenues for those interested in a career in sports. With this change in focus and better infrastructure other sports like football, boxing, motor sports and shooting could also become big ticket events attracting money and management professionals. There is the promise of Formula I now in India and possibly many more international sporting events are likely to follow suit.

Globally sports have taken a giant leap. With big time money coming into sports, there are a number of different sporting organisations ranging from various professional teams and leagues, to many national and international amateur/professional sports organisations that are now handling all the major sporting events in the world. In India, too, sports can no longer be treated as an amateur activity, but as a business with immense potential.

This is where sports managers come into the picture - to handle the marketing, finance, event management and strategic decision-making required to protect and promote the interests of players and the sport itself.

Job profile

Sports management jobs include working as an agent representing professional sportspersons in areas such as procuring endorsements of products or services, as also handling entertainment events, product advertising and so on. This is a major task which requires huge funds, and some financial expertise to manage and take care of the implications of such big deals. Sports managers, therefore, need to have a thorough knowledge of taxation, and should be able to handle financial analysis, feasibility studies and economic impact studies as for any other business activity.

With the cut-throat competition coming into sports, games are won and lost not only on skills and talent, but also on the right decisions and correct strategies. Today hi-tech research is used to make intensive studies with detailed statistical updates and video coverage on each sportspersons's technique, as well as on the competitors' performance. This involves extensive use of information technology for collating numerical data and technical details, and extensive video editing, so that coaches, physiotherapists and the managers can study all facets of the sportsperson's game and chart out the right course of action.

With such large sums of money riding on their decisions, sports managers need to use ultra-modern technological research to build their strategies.

Some sports management companies also specialise in media coverage and in producing sports-related content for broadcasting organisations. Here the work involves TV reporting, filming and editing as well as programming and broadcast management such as working out broadcasting rights of sports events and other media activities connected with sports and sportspersons.

Getting In

You don't need to be a sportsman to make a mark in this career, although knowledge and interest in sports is certainly an important pre-requisite. Although no formal training is required, a passion for sports, an ability to generate business, a sharp mathematical mind, and a basic graduation can help you get into this profession. While an MBA can certainly take you nearer the goal, today it is also possible to take up a specialisation in sports management, currently being offered by a few institutes in India. Other subject fields that may help those in the sports industry include marketing, public relations, accounting, general business and law.

COURSE TALK

Among the institutes and universities offering graduate and postgraduate degrees and diplomas in sports management are: the Indian Institute of Social Welfare and Business Management, Kolkata (www.iiswbm. edu); Alagappa University, Tamil Nadu (www.alagappauniversity. ac.in); and the Indira Gandhi Institute of Physical Education and Sports Science, New Delhi.

The growing interest in this field has seen the opening of several private institutes. These offer professional courses in sports management, fitness management, sports science and technology. There are three such institutes in Pune alone. The College of Events and Media (COEM), Pune,(www.coemindia.com) offers full-time and part-time courses in sports management, and a short-term certificate course for sports.

The Institute of Sports Science and Technology, Pune, offers sports management courses and diploma courses in sports fashion designing, sports infrastructure management, fitness management, sports journalism and even sports photography, while the International School of Corporate Management has introduced a post-graduate diploma course focusing on golf management. This institute has been set up in collaboration with Elmwood College, St Andrews, Scotland.

There are several foreign universities that have well designed graduate and postgraduate study programmes in sports management. Many US universities also offer sports business management curriculums with strong industry ties.

There are numerous opportunities for sports management professionals who can look for jobs in sports academies, clubs, fitness centres and as sports event managers or even as sports administrators or agents managing a sportsman's career.

With the entry of sports management companies this role has been taken over by large organisations that take charge of a sportspersons' or team's sporting career, handle coaches, finances, as well as promotion and marketing of their clients. Working in a sports management company can not only bring you to a position where you are the link between a sportsman, or sports team and the general public, where you are able to form positive relationships with sportspeople you may admire, but also where you can play a role in promoting the sport and the sportsman.

The last couple of years have seen a sharp growth in the number of sports management companies, as also that of the sports channels and sports divisions of advertising and media buying firms. International companies like IMG, World Sport Group and 21st Century are some of the international names that manage the careers of cricketers.

There are many others national and international companies that handle other sports, including Globosport that handles the endorsements for Sania Mirza. Roots Sports, Procam, Sportscraft and Percept Sports have been promoted to develop and market sports events and players to the public and corporate India. In addition some companies have ventured into talent search for icon potential and "brand" building. Others handle the management of stadia, event marketing as well as advertising and media planning and in producing sports-related content for broadcasting organisations.

As sports-related businesses continue to grow, the need for management specialists with special skills will continue to grow. Today even sporting associations and organisations such as the Board of Control for Cricket in India (BCCI) are on the lookout for professionals with sports management skills such as sponsorship leveraging, evaluation, media planning, finance, and infrastructure management skills.

The sports business is growing rapidly. In cricket alone IPL teams are auctioned for as much as Rs 1,500 crore. If you have a passion for sports, and are good with communication and management skills, here is a chance to bowl yourself into a promising future.

The writer is a career expert

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TREND MILL
Culinary queens
Women can dish out an excellent career recipes by becoming professional chefs, writes Hemant Kumar Kochar

They may admire the drive and skill of women contestants in Master Chef India contest, but a large majority of avid viewers are skeptical about their success in this profession. Reason? Though women have always been typecast in the role of a home maker with looking after children and take care of household chores like cooking being their main duties, but surprisingly very few women were accepted into professional kitchens till recently. A quarter of a century ago, there were not too many women restaurant professionals. But today, women comprise more than half of the industry’s employees. Most male chefs acknowledge that their mother, sister or wife, are better chefs than them. Such a statement surely proves that women are born chefs, while men learn to be chefs.

Career prospects

Cooking is no longer considered a chore but is seen as an art. Dining out, and that too in style, has become a lifestyle statement now. People don’t eat out because the cook doesn’t turn up or the lady of the house is too tired to cook after a long day at work, but it is a part of the routine life now. Thus the demand for professional chefs has increased manifold.

If one nurtures a desire to win a million hearts by serving people with good food, a career as a chef is the right answer. One can find job in hotels/restaurants, air catering, railway catering, army catering, food processing, companies, confectioneries, theme restaurants, malls, base kitchens, private hospitals like Apollo or Max, cruise liners, corporate catering, etc, and the salaries are whopping.

One can also become a food writer like the noted chef Arvind Saraswate, who has penned a cookery book titled The Art of Fine Cuisine. One can also try one's hand at teaching. And, of course, one can become an entrepreneur by setting up one's own business. With Indian food becoming a craze all over the world, the demand for Indian chefs is very high. The UK itself is home to a large number of restaurants specialising in Indian food.

Skill set

A chef requires knowledge about different kinds of food and cuisine and how these are prepared, an aptitude for service and hospitality. One should be an outgoing person and be able to work in a team. In nutshell, to succeed in this career one should have these three qualities: passion for cooking; the ability to work one’s heart, and the ability to serve with a smile.

Chefs, cooks, and food preparing worker work in restaurants or in their own company. Chefs or cooks have to have a diploma in culinary arts or hotel management. Graduating apprentices are often hired by the restaurant in which they complete their training. There are also college programmes available for cooks and chefs. Some colleges offer an associate degree and certificate programme in commercial food preparation and food service operation.

Scope for women

Though many women work in hotels, they are usually in housekeeping, front office, or in administration. Only a handful of women chefs have ventured out to have a career in professional kitchens. This domain was, and is, a male dominated one, and the best chefs today are men. This could be, perhaps, due to the high physical strain required, the long and odd working hours, and the extreme working conditions. 

However, women are now getting ready to accept way of life as a professional chef, Unlike a decade ago, when being a chef was not considered the best career option for a young woman, it is today seen as a glamorous profession. Although this is a male dominated industry, the same strict set of rules and high discipline standards in the workplace are in practice to ensure that women need have no fear of harassment or partiality. This is truly a field where the quality of your work alone determines your success as a chef. 

Chefs, today, are not restricted merely to hotels. Although, at one time, chefs were viewed only through the window of a 5-star hotel, the variety of food operation options available today has expanded the horizon for many women chefs. They can become food critics, host a TV show, write a book, become small scale entrepreneurs, food photographers etc. A host of options are available today to women who don't want to tread the beaten path.

The writer is the Director of Madhuban Academy of Hospitality Administration and Research

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OFFICE MANTRA
No lip service, please
Service provided with sincerity and honesty will go a long way in enhancing the worth of the service provider as well as the company, writes D.C. Sharma

Motivation guru Jim Rohn says that in order to get what you want means to help others get what they want. In the modern marketing scenario people are just into money making. Almost 80 per cent bosses encourage their workers to get clients by hook or by crook little realising that the satisfaction they get by doing so is very transitory just like standing on a pedestal of sand.

To prosper in any job or career it is very important to be a quality service provider. Always provide a "thick" service. This is a service which is thick in value and worth. Your service must bring a smile not only on your face but also on the face of the recipient. To provide just lip service and thus exploiting the service user by keeping him in the dark or by ditching him brings disgrace to the worker sooner or later.

Serving with sincerity

Those who are respected for providing excellent service are the ones who are always eager to satisfy their client. They always deliver without giving too much importance to monetary benefits. They come out of their own comfort zone and add to the comfort zone of the recipients. Such people are always ready to go an extra mile. They love to work and serve in order to bring a real smile on the face of the recipient.

Hypocrisy doesn't pay

Certain workers' prime motto is to please their bosses and remain in their good books by hook or by crook. Ignoring clients and using delay tactics with them to please boss can be suicidal. Such pretenders are exposed sooner or later, and they earn disgrace for their company rather than earning goodwill. No company can tolerate such worthless workers who are a burden rather than being an asset.

Rise above self

Those who get truly involved in doing what their service users want forget their own worries and concerns. When workers are just worried about their own problems then they can't concentrate on providing a selfless productive service? Only those who can focus and concentrate 100 per cent on their job can excel in their careers. They alone can provide service which has "thick" layers of real value and worth for the recipients.

Quality matters

It is not only the quantity but the quality that matters. An enormous but worthless produce carries no glory. But a small work which carries quality wins much more applause. Poet Ben Johnson has well said that the lily flower which lives just for a single day in the month of May spreads much more fragrance and happiness than an oak tree which lives for more than a hundred years. The same is the case of a quality service which is thick with its worth.

Consistent excellence

It is not sufficient to be the best only once. What is more important is to give consistent service full of quality again and again. Consistent efforts in the right direction with a will to serve others are always the best. Those who give slick service and not lip service truly acquire the reputation which lasts for years and years to come.

Love for one’s job and sincerity oil the machinery of providing a truly constructive and productive service in any job or career. Such a service has the potential of bringing a smile on the face of every service user as well as the service provider.

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Women in danger zone
Women in jobs characterised by high demands and low control, as well as jobs with high demands but a high sense of control are at higher risk for heart disease long term

A new research has revealed that women who are under high job strain have a 40 per cent increased risk of cardiovascular disease and the need for procedures to open blocked arteries, compared to those with low job strain. In addition, job insecurity was associated with risk factors for cardiovascular disease such as high blood pressure, increased cholesterol and excess body weight.

Job strain is defined as having a demanding job, but little to no decision-making authority or opportunities to use one’s creative or individual skills.

Researchers analysed job strain in 17,415 healthy women and used a standard questionnaire to evaluate job strain and job insecurity with statements such as: “My job requires working very fast”. “My job requires working very hard”. “I am free from competing demands that others make”. The 40 per cent higher risks for women who reported high job strain included heart attacks, ischemic strokes, coronary artery bypass surgery or balloon angioplasty and death.

“Women in jobs characterised by high demands and low control, as well as jobs with high demands but a high sense of control are at higher risk for heart disease long term,” said Natalie Slopen, a postdoctoral research fellow at Harvard University Center.

“From a public health perspective, it’s crucial for employers, potential patients, as well as government and hospitals entities to monitor perceived employee job strain and initiate programs to alleviate job strain and perhaps positively impact prevention of heart disease,” said Michelle A. Albert, the study’s senior author and associate physician at Brigham and Women’s Hospital, Boston, Mass.

The research was presented at the American Heart Association’s Scientific Sessions 2010. — ANI

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Catching them young

Over 3,000 students of Manav Rachna International University and 5,000 children at the Manav Rachna International Schools in Gurgaon and Faridabad will benefit from skill-centric courses soon. Aspire, a Gurgaon-based company engaged in embedded employability education and skills development, has announced a five-year, exclusive partnership for India with iCarnegie, a subsidiary of Carnegie Mellon University, Pittsburgh, PA (USA); and, a five-year collaboration with Manav Rachna Educational Institutions (MREI) at the MRIU campus in Faridabad. Together, Aspire, MREI and iCarnegie intend to introduce various skill-centric courses to provide students in India with high quality practical outcome-based curricula that can improve their employability and life skills.

The two new iCarnegie offerings being launched in India with MREI as the first customer are:

(i) School Certificate Programme with state-of-the-art robotics-based curricula for the K-12 segment to teach Computer Science, Technology, Engineering and Math (CS-STEM) using Computer Science and Robotics. These programmes will be made available to Grade III to Grade X students at MREI.

(ii) University Certificate Programme in software and web development for under-graduate workforce training at Manav Rachna International University. Launched with 2011-2015 batches, the iCarnegie courses will eventually cover all Computer Science students at MRIU.

These programmes will be made available by Aspire through its embedded employability education format.

The School programme in CS-STEM using Computer Science and Robotics, begins at 3rd grade, and, in junior school, begins with pre-algebra concepts and introduces students to IT concepts. At the 6th through 8th grade level, robotics and computer science are used to provide context for students and develop algebraic reasoning, which is a critical instructional topic for middle-school age children. This is also the time children are developing their own identities for (or often against) science and technical careers. In senior school, the academic focus is on physics, advance computer science, and engineering projects.

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Australia ups English standards for students

Australian Immigration Minister Chris Bowen has reportedly imposed serious standards of English on the country’s multi-billion-dollar international student business by changing its skilled migration test to favour potential migrants with higher skills, experience and better command over the English language. It is the latest in a series of reforms making it harder for education providers to use the prospect of permanent residency to recruit fee-paying foreign students into low-quality courses.

The Australian quoted Monash University researcher Bob Birrell as saying that it would be difficult now for foreign graduates of Australian institutions to qualify as skilled migrants unless they reached at least professional level English, represented by a score of seven in the International English Language Testing System (IELTS).

Dr Bowen also said the new points test, to start next July, should attract highly skilled “symbolic analysts” to solve complex problems facing the nation.

The new points test rewards superior English for the first time, relaxes age limits to attract skilled migrants with experience and advanced qualifications, and gives the same points to overseas university degrees as it does to local qualifications, the paper said.

The test will work in step with July’s new skilled occupation list, which removed low skill jobs such as hairdressing in favour of engineers and health professionals.

Dr Birrell said education authorities and providers had resisted any requirement that graduates score a professional standard of seven in IELTS, despite research showing that in 2006-07 about a third of the overseas students who had graduated in Australia and won residency as skilled migrants lacked the English proficiency to work as professionals.

“It will hit hard with those who struggle to get seven and that includes East Asians.” China is Australia’s biggest education market and well-known universities are especially reliant on overseas student income from commerce and business faculties. — ANI

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FOOD FOR THOUGHT

Presenteeism picture

Washington: Presenteeism, a word that applies to people who are less productive at work because of health issues, costs employers as much as three times the dollar amount as absenteeism in terms of lost productivity, some scholars have estimated. But researchers at University of Michigan believe those numbers may be inaccurate. A new opinion paper suggests that the tools for measuring and quantifying hours of lost productivity and translating those hours to dollars are unreliable and don’t capture the entire presenteeism picture, said Susan Hagen, an analyst from the U-M School of Kinesiology Health Management Research Center (HMRC).

Because of this, the HMRC has suggested a three-year moratorium on its studies of presenteeism that translate hours of productivity loss into financial or dollar equivalents.

The HMRC defines presenteeism as reduced productivity at work due to health conditions such as asthma, back pain, allergies or depression.

“It’s hard to be 100 per cent effective every moment you’re at work,” Hagen said.

“We’re talking about the lack of productivity that stems from a health condition, or because you’re worried about your health.” One of the challenges in measuring presenteeism is that all the measurement instruments use self-reported data. This means you’re depending on employees to report they aren’t working as effectively as they could be, due to their health.

“The estimates can vary so widely. Some studies say that most workers don’t have any presenteeism, while there is other research that suggests most workers experience presenteeism to some degree,” Hagen said.

Another big problem is that there are so many different measuring tools, and each tool may measure presenteeism in a different way. Also, not all health problems affect workers in the same ways. For example, a person may have allergies for two weeks in May and feel horrible, but the measurement instrument could take that two weeks and expand that bad experience to 12 months. This process vastly over-reports the illness and thus, the hours lost and the subsequent financial loss.

“Our concern is that organisations may be making financial or future decisions based on data that may not support those decisions,” Hagen said.

The paper has been published in the Journal of Occupational and Environmental Medicine.

Pitfalls of irregular work hours

Washington: A study by Michigan State University researchers has found that irregular work schedules appear harmful to the well-being of cohabiting parents. Compared with married parents, cohabiting parents — who live together but are not married — tend to have lower-paying jobs that may not offer a choice of working a standard 9-5 shift.

Cohabiting parents who work nonstandard shifts tend to experience more conflict between work and family life and feel more depressed and less successful as parents and workers than do their peers who work standard shifts, the study argues.

“Cohabiting parents who work these nonstandard shifts certainly warrant more social attention as their numbers continue to grow,” said Hui Liu, lead investigator on the project.

“They’ve already faced economic and social constraints and may be more susceptible to suffering from recent changes in work schedules,” he said.

Liu said cohabiting parents are less likely than their married counterparts to take care of their partners’ children, pool their income and receive child-care help from family members.

These factors make it harder for cohabiting parents who work non-standard schedules to balance work and family life, she said.

On the other hand, working irregular shifts may actually benefit married couples who share parenting duties by providing an option for one of them to be available for child care during the day.

The study analysed the data of more than 2,300 people in the National Study of the Changing Workforce.

The Study appears in the journal Social Science Research. — Agencies

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Happiness @ work
Gems of ancient wisdom

Captain, lead

Becoming a boss not only means a raise in pay or rank, but also an increase in responsibilities and perspective. Show you are worthy of that promotion lest you and your juniors should suffer.

When the siege of Anandpur Sahib had dragged on for six long months, Guru Gobind Singh decided to rise to the occasion. Despite being advised against it, he accepted a single-handed archery duel with Mughal General Painda Khan. As the 10th Sikh master knew of Painda Khan’s mastery of archery and his impregnable steel armour, he aimed into the Mughal general’s ear killing him instantly and bringing victory to the hard-pressed Sikhs.

In 1660, when her husband Ratna Singh, the Rao of Salumber, wavered in intercepting Mughal Emperor Aurangzeb, Hadi Rani, the princess of Bundi, cut off her head to set an example of Rajput valour. Thus inspired, Ratna Singh fought like a man possessed and forced the Mughal army to retreat. After the win, the Rao of Salumber severed his head to be in the same realm as his beautiful bride.

In contrast, it is said in the Mahabharata that grief will befall all in the realm of a dull, dim-witted and disinterested king.

Exhibiting poor estimation of abilities, King Virata of Matsya thought his son Uttara had single-handedly defeated the likes of Bhishma, Drona and Karna. When Kanka, who was Yudhisthira in disguise, rightly praised Brihannala, Arjuna in disguise, for the win, the king flung the dice at Kanka, making blood drip from his nose. The king eventually apologised and consented to the marriage of his daughter Uttaraa with Arjuna’s son Abhimanyu.

Saddened by King Bhoja of Dhara’s attitude towards poetry, Kalidasa stayed away from court for a very long while. The king had once asked the legendary poet, “Why don’t you write a poem praising me?” Kalidasa had explained, “The praise of mortals is not the aim of poetry.” Following the argument, the writer of Abhijnana-Shakuntalam went to stay inconspicuously in a village.

Whatever standards a great man sets by his exemplary acts, the whole world pursues, says the Gita (3.21). It’s time you took charge, captain.

— Sai R. Vaidyanathan

The writer can be contacted at svaidyanathan@tribunemail.com

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Career Hotline
Pervin Malhotra

Essentials of entrepreneurship

Q. I've always dreamt of setting up my own manufacturing unit but I am not sure whether I am cut out to be an entrepreneur. I'm presently working in an infrastructure project after doing BE (Mech), but as the youngest in a family of professionals, I have led a somewhat protected life. With no business in my blood will I succeed?

— Ajit Arya

A. To answer the last part of your question first, one doesn't necessarily need a family background in business to strike out on one's own. However, parental behaviour towards children does play a significant role in making or marring entrepreneurial talent. Sometimes an over-protected environment can make children highly dependent, cautious and averse to taking risks.

Undoubtedly, entrepreneurship is the bedrock of industrialization, more so in a country like ours where unemployment is so rampant.

But, you are absolutely right. Not everyone is cut out to be an entrepreneur.

Willingness to take risks, being proactive, a high degree of perseverance - even in the face of repeated hurdles, a sense of perspective and an over-arching vision are some of the essential qualities you need to strike out on your own.

I have also found successful entrepreneurs to be highly creative, and innovative and ready to roll-up their sleeves and plunge wholeheartedly into the task at hand, without bothering about protocol.

Even if you think you possess most of these qualities, it would be wise to gain some more practical and relevant work experience, before you decide to establish your own unit.

Sound business sense, planning and marketing savvy and good people skills are as important as technical know-how and financial backup. The latter is not such a bottleneck today. If you have a sound idea that can be scaled up and a good team that can deliver, angel investors and VC funding are now relatively easy to attract.

In short, you need the ability to: Stay the course - hang in there - but you must know how long to do so.

Know when to cut your losses. You must know when to call it a day - your time and energy are limited, after all.

Spot an opportunity. Ideas need not always be BIG. All it takes is a bit of tinkering with an existing idea to make a better, bigger, cheaper or faster product or service.

Know your competition and get ahead of it.

Think on your feet. Lead your enterprise from the front. Hire the right people (not an easy task), to form a strong team, and give them the freedom to do their job.

Be prepared for losses in the initial months. Running your own business is a tough ball game, but rewarding nonetheless.

And whatever you do, don't fall for get-rich quick schemes (because they are anything but). And be wary also of MLM (multi-level marketing) stuff.

Basically, keep your eyes and ears open. Be ready to fail. Learn from your mistakes, get up and move on.

Above all, before deciding to start your own business, evaluate your potential to add value to the marketplace. Do you have the ability and patience to connect with your end customer and consistently offer them what they want with an inherent value proposition? Think. Hard…!

Actuarial facts

Q. What is the actual demand for actuaries in India? One keeps hearing of all sorts of figures. How many actuaries are there presently, and how do I become one?

— Ravish Kumar

A. The demand for actuaries in India is expected to exceed the supply for the next five years even as insurance firms face competition from other industries to retain actuarial talent. In fact, the shortage of actuaries is a major problem.

India currently has 18 life and non-life insurance firms each and one re-insurance firm.

These insurance firms, which need actuaries to help develop products, assess profits, conduct valuation and reinsurance based on historic statistics, have barely half the number of specialists they need.

There are very few actuaries in India at present against the actual requirement, and many of them are close to retirement. Demand for the specialised talent will only grow as more and more Indians opt for insurance.

The Institute of Actuaries in India that has 6,500 members is growing by 30 per cent every year.

The institute expects to add at least 1,000 actuaries in the next 10 years. Many Indian firms are using the services of the actuaries of their foreign partners.

There are about 44,000 actuaries globally. In addition to the inherent shortage of actuaries, insurance firms also face competition from other industries and countries in attracting and retaining the specialised talent.

Many Indian actuaries move to other countries, especially Middle-East and Africa where the demand is high.

Actuarial talent can also be used in other areas such as banking and environmental science where different actuarial models can be applied.

Many big companies abroad have their own actuaries to develop their own health insurance and pension products. A number of firms have an actuary as chief risk officer who works to either minimise or transfer risks.

To qualify as an Actuary, you must be a Fellow Member of the Actuarial Society of India, Mumbai. This involves clearing a series of exams conducted by the ASI.

Details: www.actuariesindia.org.

An MSc in Maths/Stats would be an ideal qualification to enroll for the course.

Scope for medical professionals in BPOs

Q. I am doing BSc Nursing. Due to health reasons (acute rheumatoid arthritis), I will not be able to work in a hospital or clinic. I have heard that there are some options for medical professionals in the BPO sector. Is this true?

— Sarita Quereshi

A. Increasingly, outsourcing firms in India are now hiring medical professionals - doctors and nurses - as they look for new areas of business to supplement shrinking incomes from sectors that have traditionally opted for outsourcing like finance and banking. Four other outsourcing firms - Wipro BPO, TCS, Cognizant and HCL - hire doctors nurses and paramedics. About 15-18 persons come on board every month. The pay obviously depends on experience and quality of work done, but it is common for these BPOs to offer the doctors double of what they have been making. The average salary could start from Rs 45,000-50,000 and go up to Rs 3 lakh per month. Those with pharmacy, medicine, dentistry, nursing, homeopathy, degrees are in demand. So don't worry. Remember, the definition of a toughie: Someone who gets going when the going gets tough.

The research route

Q. What is the advantage of opting for the Fellow Programme in Management vis-à-vis PGDM/CM?

— Simran Ghei

A. While PG programmes in management are meant to prepare you for a corporate career, the Fellow Programme in management is meant to equip you for a different purpose altogether: research and academics. It will encourage you to explore the concepts till you begin to think for yourself and then hopefully begin to formulate some concepts of your own as well.

The writer is a noted career expert and director, Career Guidance India (CARING). Please send in your queries with your full name, complete address 
and academic qualifications to: The Editor, Jobs and Careers, The Tribune, Sector 29, Chandigarh-160030, or at careers@tribunemail.com

 





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