Leadership seminar with Mark Pigott

Before coming to Cambridge, I had not heard about a company called PACCAR. I guess it was way below the radar in comparison to companies like Dell or Starbucks.

PACCAR is a 100+ year old company that manufactures trucks under the band names Kenworth, Peterbilt and DAF. It had acquired Leyland Trucks in the UK in 1998 (as part of the Operations Management tour, I had a chance to visit the Leyland factory). It had a revenue of about $15 billion in 2007 and made a profit of $1.2 billion. The most amazing thing is that it is one of the very few companies that has made a profit for 69 consecutive years.

Mark Piggot the CEO of PACCAR held a leadership seminar at JBS this week. He represents the 4th generation of this family owned business. The longest serving CEOs in the automobile industry.

What I was most impressed about Mark was his passion what what he does and the simplicity with which he puts his point across.

A few key take aways from his talk were
1) Education - Get all the education you can and continue to learn. Mark is currently working on his 4th degree.
2) Common Sense - Always look for people who bring in 'common sense'. It is the rarest and most valuable commodity in the business world.
3) Benchmark against the best in diverse industries - PACCAR benchmarks itself with Dell, Walmart, Wells Fargo to name a few.
4) Old paradigms may be useful - The world still works on factors like producing a product or rendering a service. This is never going to change. The most important aspect is to to do this with the customer and employees at the heart of it.
5) Give back - Make sure to give back.
6) Think long term - Successful CEOs and people thing long-term. This is the essence of doing the right thing every time.

Mark also talked about the dynamics of a family business and he feels that the CEO should not necessarily be from within the family, but should be the best person who can do the job done

I really enjoyed the talk.

Nearing end of second term

The last few weeks were quite hectic and I attended a number of interesting talks (a few of them are listed below)

1) Lecture and formal dinner hosted at Wolfson College - commemorating the life of Sir Vivian Fuchs (100th anniversary of his birth and the 50th anniversary of the first land crossing of the Antarctic continent). The talk was made by Professor Nichloas Owens, the current Director of the British Antarctic Survey (BAS).
2) Talk by Lord Karan Bilimoria - This was as part of the case-study we had done about Cobra Beer. Lord Bilimoria is one of the best speakers I have listen to during my term in Cambridge.
3) Enterprise Tuesday - Building a Dream Team with Lousia Fletcher of Property Price Advice fame
4) Enterprise Tuesday -Making It Happen with Prof Sir Richard Friend and Stuart Evans, CEO of Plastic Logic
5) Enterprise Tuesday -Avoiding Big Mistakes with Dr Hermann Hauser CBE, Co-Founder of Amadeus Capital Partners
6) Strategy implementation session with Bradley Fried, CEO of Investec UK
7) "High Performance in a Multi-Polar World" with Mark Spelman, Global Head of Strategy at Accenture
8) Issues of Corporate Governance and Valued Talent with Sean O'Hare, Partner in the Human Resource Services Practice at PWC

We will finish this term on the 14th of March and will start on the Global Consulting Project (GCP). Our team (of 5 souls) is heading to Portugal to work on market entry strategy for a Solar Energy turnkey equipment manufacturer. We will be spending about 6 weeks working on this project. Can't wait to finish the exams and head to Portugal and enjoy the sun :)

Seeding the UK Business Schools network

On Saturday (16th) a few of us from Judge Business School, Said Business School, London Business School, Warwick Business School and Manchester Business School met in Oxford to explore avenues of better interaction and networking among the various UK business schools.

As an outcome of this meeting, we plan to increase the interaction between the schools and have a lot of inter-school competition.

Daniel from SBS hosted this event at his school. He was a wonderful host and took us around to some of the wonderful places (pubs, monuments, colleges et al.,) in Oxford. It is really an impressive place (just as Cambridge is); with a lot of history and tradition.

Leadership seminar with Sunil Mittal

Today we had a leadership seminar with Sunil Mittal. He talked about how India has developed over the years from a socialistic economy to a more liberalized economy. In 1992 the country had only 7 days worth of foreign-exchange reserves and had to mortgage its gold with the Bank of England to borrow $500 million. India was even thinking of selling its prime-property around the world to raise money (e.g., the Prime real-estate where the Indian embassy in Tokyo is located). This is really what drove India into liberalization along with a lot of pressure from the World Bank and IMF.

It was in this liberalized economy starting in 1992 that Sunil Mittal build Bharati Enterprise to become one of India's premier business houses. Bharati's flagship company Airtel now has a market capitalization of over $35 billion. His story resonates like the story of many of the Indian businesses that were started by entrepreneurs in the 1990's.

His view is that India is at a cross-road with a lot of potential and is growing rapidly. The next two decades will make or break India. He feels that the areas that needs the most development and support in India are education, agriculture and research in pure-sciences.

I liked the way he explained complex things in very simple terms. What I liked even more was that he used numbers to make his point across rather than using casual rhetoric.

Chinese New Year

We welcomed the Chinese New Year (The Year of the Rat) with a big-bang party on the 9th. Our Chinese friends made every-effort to dish out some real nice cuisine and festivities. We sang and danced through the night. The 'God of Fortune' came around and gave us gifts. The person dressed as the God was none other than the great Tao from my previous study-group. Here are a few pictures from that eventful night.

How do we learn?

This term has been a killer one with too many assignment and so much ready. However, I like it as we are learning newer things every day and learning to manage our time in a better way. The learning methodology is also quite different. For each of the case study we do in clasee, we get industry experts come in and give us their view points.

Example : We had a case on strategy case on Google and we had someone from Google to talk more about the case. So was the case with cases about Patents, Innovation and People Management. I'm really enjoying the learning part of it and tired of the incessant reading.

Looking forward for the results of the Technology Enabled Enterprise Transformation contest we had today.

MBA Rankings

The FT rankings were out yesterday and it was cool to see JBS leap in to league of the Top 10 MBAs in the world. Pretty cool for us.

I hope this influences employer perceptions and rake in more opportunities and moolah for the JBS students/alumni :).

Here is a list of recent international MBA rankings :

FT 2008- (JBS rank - 10)
Economist 2007- (JBS rank -7)
Forbes 2007 - (JBS Rank - 3, among 1 year non-US schools)

It is now time to hit the bed. Today, as part of the Operations Management course, a few of us went to the Leyland Truck factory to view their production process and operations. It was a great learning exercise. I will post more about this visit later in the week.

The new learning group

The new term started out with a few reading marathons. There is so much pre and post session reading to do. Not that I'm complaining, just imagine reading about 100 odd pages every day before and after class (on top of all the other activities). Wow !!! Hope I can keep up with the reading.

This term seems much more interesting and engaging than the last term. The first term was more of a foundation and basic reinforcement term, this term is more about practice and current market learning(s).

I'm now part of a new learning group. We have a great diverse group.

1) Sandie from Singapore - she was a Tax consultant at E&Y
2) Will from UK - he was a Plastic Surgeon
3) Natalie from Russia - she was working for the Ministry of Foreign Affairs
4) Johnny from China - he was working in the advertisement industry and was a presenter on MTV

I believe I can learn a lot from the experiences of the people in my learning group.

By the by, I'm back on my Salsa classes and enjoying the vibe.

The beginning of a new term (Lent Term)

We had the Michaelmas term final exams during the last week. The final exams are old fashioned closed book exams (quite an effort to write pages on pages of what is on our mind). Starting from Monday, we step in to the Lent term.

After the long Christmas break, I'm looking forward to be in class again and enjoy the company of my friends. By the by, the first round of interviews for this years MBA class will start on Monday. There are about 30 prospective students who will be interviewed on Monday in Cambridge.

From a careers perspective, this term will focus more on careers in consulting. As of now, we know that McKinsey, Bain, ATKearney, Accenture and Oliver Wyman are coming to the school for recruitment.

The holiday season

This holiday season was a wonderful one for Aidah and I. We had a great time with our new friends in Cambridge (especially Christmas and New Year's eve). Here are a few pictures from the Christmas day and New Year party.