ONLINE GD AT URPERCENTILE : BUSINESS MANAGEMENT SPEAKS SELFISH LANGUAGE
Following GD was conducted on 8th Feb 06. The topic ( BUSINESS MANAGEMENT SPEAKS SELFISH LANGUAGE) was suggested by one of the group member. Most of the participant performed well, but if asked to select 3 best would select Ishan Sethi, Manik Gupta and Sagar Rastogi.
www.UrPercentile.com: We start with one line introduction from everyone, with education qualification , location and calls if any. Everyone select a font colour of liking.
anil sheth: I m Ashish frm Surat, 3rd year B.com,preparing hardly 4 CAT exams n hoping 4 a great success
Ishan Sethi: Good Evening everyone, I'm Ishan, final year computer engineering IP university, Delhi. Have calls from IIMA, IIML, IIMK, MDI, SPJAIN, IIFT and SCMHRD.
Ashutosh Goyal: hi i am ashutosh from IIIT allahabad doin btech(IT) 3rd year
Manik Gupta: Hi Myself Manik Gupta, I have done BE in Computer Science from PEC Chandigarh and have a work experience of 19 months. I am presently located at Noida and got IITD, IITB , SPJAIN, MDI , FMS
s kjalan: Hi I am sandeep jalan I am doing electrical engineering fromr IIT Kanpur.Currently I am in third year .I didnot appear for Cat this year so no call
Sagar Rastogi: hi everybody, I'm Sagar Rastogi, pursuing B.Tech in Computer Science and Engineering from IIIT Hyderabad. I have calls from all 6 IIMs.
floral bonjour: hello to all.I am priyanka, TE Comps, going to crack CAT-06,mumbai
Gargi Dadhich: Hello I am Gargi working in C-DAC for 2 years now and am preparing for CAT
jr phad: First of all .. .I congratulate everyone who got calls .... I m Jayesh Phad .. third year engineerining student ... from VJTI Mumbai ... . all the best everyone !!! for GD
www.UrPercentile.com: The topic of GD is "BUSINESS MANAGEMENT SPEAKS SELFISH LANGUAGE". This topic was suggested by one of our group member. TIME LIMIT IS APPROX 30 MINUTES. YOU MAY START NOW
floral bonjour: the topic claims it or questions us?
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Gargi Dadhich: I guess it questions us
Ashutosh Goyal: welcome u all to thid gd session. as our topic is business management speaks selfish language......... well first of all we have to know wht business management all about
Sagar Rastogi: Friends.. to start.. I think we should first define what business management is.. and what we mean by 'selfish language'
Ashutosh Goyal: business management is all about how to utilize resource we hv with to get max output from thm and how we can expand our org and hwo to max our profit
Manik Gupta: Friends, first of all we should understand what is Business Management and is the "Selfish language" only way of talking Business
Ashutosh Goyal: and as we'r in corrporate world we hv to think about profit, we start doin public service thn it will we preety hard to survive in this world
jr phad: also business management ... is to develop proper product brand ... that will have good recall among customer ... and maintaining the trust .. of customers ... in proper way
Ishan Sethi: Business itself has a meaning of a commercial or industrial enterprise and the people who constitute it. It includes people and not one person. Business management is the art of manging these resources of Business..
floral bonjour: business management doesnt speak selfish language.it depends on the defination and work plans of each organisation.any organisation which thinks in selfish terms makes progress only in the short run
Manik Gupta: Yes but in this process we also have to keep in mind that we are not immorally using the resources and in the process jeopardizing our own long term reputation
Sagar Rastogi: i disagree with priyanka, one of the main goals of business is to make profit and since that is by definition selfish.. business management has to speak selfish language
Ishan Sethi: Considering this fact Business can be of 3 types: 1. Pragmatic Business 2. Idealistic Business 3. Pragmatic idealism
www.UrPercentile.com: WHEN ANYONE AGREES OR DISAGREES TO OTHERS, SHOULD ALSO GIVE REASONS. NO ONE-LINERS.
Gargi Dadhich: So essentially it means .... we are also thinking from a local perspective.....as in utilizing best of "our" resources to best profits for "us" wherein us - is one organization...
anil sheth: BUSSINESS MANAGEMENT means the way of managing the different fields of production n distribution of goods n services.Ya in real it does not have ny language but seeing the present economic scenario it speaks n that too a SELFISH LANGUAGE
Ashutosh Goyal: it nt true tht if a org think in selfish trem. no one thinks in selfish terms. it d way to do work. if u nt think abt ourself thn how come u think to live in this world. you hv to do things for u
jr phad: ya good point priyanka. ... the company's ultimate aim should be not to fool customers ... just to gain ... short term benefits. . but it should be also ... to gain da returns .. from long term trust ... in prodcut
s kjalan: This is the rule of businees that if you want to suceed in your business you have to be selflish Your motto should be maximise your profit of the compant .so I think bussiness management always speak selfish language
umang goyal has joined the conference.
Gargi Dadhich: In hence from one organization's perspective....profit could mean loss for someone else...so i think one cannot say that business is selfish...it is essentially.....the strongest survives
Sagar Rastogi: let me define what I think 'selfish language' means.. selfish language is looking at everything from your point of view
Manik Gupta: Reputation in business plays a very important role and its only with the customer and investor confidence that a business can flourish in long term. To quote an example reliance with its offers like Monsoon Hungama having a lots of hidden conditions have lots a lots of reputation
floralbonjour: making profits and being selfish are two different terms.many companies join hands for profit in which collaborations are included.the aim then is for the benefit of all not just the companies itself anil sheth: YA THE MAIN MOTTO OF BUSSINESS IS TO MAKE PROFIT N IF ALL DO BUSINESS IT LEADS TO SELFISHNESS MN EXPLOITATION OF CLASSES OF SOCIETY
Ishan Sethi: I agree with Jayesh and Priyanka... Most businesses flourishing today are one's that understand CORPORATE SOCIAL RESPONSIBILTY.. With this, they do not only aim at maximizing the profits but rather using them to serve the society
floralbonjour: let us look at shares and investmesnts wherin everyoen benefits , not just the company itself. i feel selfish indulgence includes fooling the customers as jayesh said and comanies fooling customers doom at the end
anil sheth: BUT NOWADAYS MULTINATIONAL COMPANY WANTS TO MAKE GOOD PROFIT N ALSO WANTS HIS GOODWILL SO IT MAKES REASONABLE PROFIT BUT IF IT HAS ITS MONOPOLY THERE IS SELFISHNESS
Ashutosh Goyal: business management is all about max utilization of resources. if it some time requires tht you hv to make some manipulations thn we can. as wht we define at first place in our organization goals, profit, make this business no. one in world
s_kjalan: Selfish language means giving statement for the benefit of our company I think there nothing wrong in that ......If you want to lead from other companies than you have to be sefish
Manik Gupta: To support the point , Companies like CSC and infosys have taken the corporate social responsibilty by adopting some villages and starting funding schools for education
jr_phad: ya exactly ... we can take example .. of DELL company ... this company believes .. in quality of the product ... n less on marketing ...so this company ..doesnt use ... SELFISH ... business management ... to sell their products
jr_phad: manik . gupta .. see ... adopting .. some villages n all ... doesnt .. actually help .. in keeping the ACTUAL BUSINESS CLEAN ... these are the ways .. to hide those selfish .. ways ..
anil sheth: I DONT ANGRY BCOZ THE MAIN BEARER IS THE CONSUMER IN THE ECONOMIC CHAIN N FIVING WRONG STATEMENTS WILL LEAD TO THEIR BLINDNESS N WRONG SCENE OF ECONOMY OF A COMPANY
Sagar Rastogi: exactly, I agree with jalan.. take the example of PSUs like UTI - they tried to be public benefactors instead of being selfish and going after profit - what happened was the US64 fiasco.. the government had to bail it out
Ashutosh Goyal: and we can see this selfish ness in other terms also. As we need some one help to develop something, bt we nt like tht person behaviour or any other thing. bt as tht is necessary to grow us. thn business management says us be selfish its for u, so go to tht person and make a deal, develop ur product and gain profit
Ashutosh Goyal: this wht business management can be in selfish manner
s_kjalan: See infosys or microsoft are giving funds for social work because its necessary that if you are earning from the socienty than you have to spend some amount of money in social work .In this way the company are getting credit plus advertising thheir company
Ishan Sethi: Take the examples of 2 pharma companies Merck and Pfizer... At one point of time Pfizer was 11 times the soze of merck... Then came a disease that spread in coastal africa like an epidemic, which was known as River blindness... Both Merck and Pfizer manufactured a drug that cured this disease... The medicine was too expensive and could not be afforded by the average African.. Pfizer seeing that it was not making profits discontinued sale of the medicine in Africa... While Merck on the other hand started selling it for free... It had losses on the lines of $44 million... Today Merck is 14 times the size of Pfizer
Gargi Dadhich: I think business is one factor is the total life cycle of things.....people in business make profits....make a lot of money......to earn this money......one makes the best deals from the organization's perspective (Which in process might be someone's loss)...nevertheless .....if the money earned ...as rightly mentioned by Ashish...is spent on Goodwill...i guess one can compensate for the self-centric behavior demonstrated by the company
Sagar Rastogi: we now know that it were computers of IBM that helped N azi Ger many conduct the holocaust in such systematic manner.. they did not care for the millions of lives lost, they only cared about their profit
floralbonjour: we are talkin of buisness "MANAGEMENT". and not buisness . buisness managemnt clearly has its own etiquetts and rules.
jr_phad: take latest examples ... SELFISH BUSinEsS management .. in all big cellular companies. .HOW MANY TIMES THEY ACTUALLY REVEAL .. the EXACT TERMS & CONDITIONS in their ADS ? .... due to this .. people .. end up .. going from POSTPAID to PREPAID and then PREPAID to again POSTPAID ? .. are we going ahead in positive way ? definately not
Ishan Sethi: Well Mr. Sagar.. I must remind u here that IBM did not manufacture the computers with that intention... They did not sell them to the Nazi's on purpose... U cannot put the blame of the consumers acts on manufacturers
Manik Gupta: I would say that a business is selfish if it is benefitting itself and this is causing harms to other . But there are other ways also in which business is also benefitted and the general public is also benefitted .. for eg Microsoft launching various courses at the college level to support the research .. THis has given on one hand a marketing leverage to microsoft but also have encouraged the rising talent to come up. So being selfish comes only in question when there is some loss to others
Gargi Dadhich: well...customers can always take the pains to know the exact terms and conditions....
Sagar Rastogi: rocky, the point is that they sold it for profit.. without caring what those computers were to be used for in other words, they cared only about things from their perspective.. this is nothing but selfishness
anil sheth: I THINK V SHOULD 1ST SEE ITS ADVANTAGES: 1> IT HELPS THE COMPANY OR BUSSINESS TO MAKE HUGE PROFIT.2> SOMETIMES IT LEADS TO RESEARCH OF NEW PRODUCT.3> DEVELOPMENT OF A SMALL SCALE BUSSINESS 4> ECONOMIC DEVELOPMENT OF A COUNTRY ON 1 SIDE.. BUT THEIR DISADVANTAGES 2.. 1> EXPLOITATION 2> WRONG ECONOMIC SCENARIO 3> LEADS TO MONOPOLY
s_kjalan: It doesnot mean that they are not selfish Take an example of LN mittall or tata .On one side they are grasping the land of people of orissa for minning but on the other they are showing that we are not doing this for us Our industry will give you the employment of people ofd orissa also we will spend a lot of money in the school college water problem
Ishan Sethi: But Sagar, is controlling what the customer does within the domain of business management... That way u might even blame all computer companies for all the viruses written by streetsmart programmers... But how can Business management control that.. let us stay in the domain of the topic
Gargi Dadhich: so essentially we are coming to a point where we can say......at what cost one makes a profit....whether one makes it at the cost of morals, social norms
Ashutosh Goyal: companies do social welfare also for thr need. as tht attach some value to thr brand. also it gains thm public symphtay. and it make thr advertise. companies never spand money worthlessly
floralbonjour: where the word management comes in, the word selfish goes out.take honda-hero has an eg.they know they cant be selfish and so have collaborations
Manik Gupta: But sandeep the main purpose of the Business is TO GAIN PROFIT
jr_phad: see. . other main loss to society ... due to such SELFISH .. BUSINESS MANGEMENT on Global Scale.. is that some countries. .. specially asian .. countries ... are worried ... abt WESTERN CULTURE ... reaching their HOMES . .. and ... harming their HERITAGE ... n OWN TRADITIONS .... see .. the way ... Festivals .. n Days .. are marketed .. just for the sake .. of benefits
s_kjalan: I am totally agree with ashutosh that social work add some value to the brand of their in company
Ashutosh Goyal: take ex of our MS(bill gates): he gave tht millons doller check so tht govt in india dont divert towards open source. so its all by business management how u make profit for ur org
Manik Gupta: Businesses are not for the social cause . So to be selfish in businees is more like doing business and harming others and not thinking only for yourself
umang goyal: Friends, we are talking of 2 things here - Business n its Management. As our freind said - The prime motive of doing biz is profit. Intersting thing to note is the management practices which are being followed. Are the policy makers and executors being totally task-oriented or goal-oriented and neglecting the social good or the benefit of its employees??
anil sheth: I 2 AGREE THEY DO SOCIAL WORKS BUT THAT IS ALSO 4 THEIR GOODWILL. WHO IS THE FOOLISH 2 JUST THROW THE PROFIT. ACCORDING TO ADAM SMITHS" BUSINESS WITHOUT PROFIT MOTIVE IS NOT A BUSINEESS
floralbonjour: gaining profit .yes we gain profit by working hard, by smart advertising, by incrasing quality of goods, by improving efficiency, can anyone cite me an eg whein where a company made "long term" profit by being selfish?
Ishan Sethi: Is that so ashutosh??? Why would Bill Gates donate Millions of dollars for the ppl affected by various diseases when his brand of microsoft is already the best in the world... He realizes He needs to pay back what he Got from the society... What profit will Microsoft make out of giving away millions to the health care of the poor?? They will still not buy Microsoft products????
jr_phad: good point . ashutosh ... all big playerrs are seeking .. long term benefits ..so they dont mind ... paying their share towards social responsibilties
Sagar Rastogi: I think we are getting distracted with some of our friends confusing selfishness with the profit motive.. today, there is the concept of triple bottomline which consists of PEOPLE, PLANET AND PROFITS
Manik Gupta: Excellent point friend, in fact the businesses which are motivated by the social purpose are not always the one in profit . to quote an example most of the PSU in India are under debts
s_kjalan: MS is giving money for the social work ifs true that you cant earn directly any profit but indirectly you are gaing lot of things like respect that also helps for the progress of the business ,advertising of the company
Ashutosh Goyal: its nt always tht being selfish means tht u hv to harm others. being selfish means tht you think abt only ur profit.it may harm others or may nt. bt one thing for sure is thr tht u'll earn for urself
anil sheth: NO MANIK. IF V GO BACK 2 THE THEORY OF BUSINESS ITS MAIN MOTIVE IS PROFIT BUT THE SECONDARY MOTIVE IS SOCIAL WELFARE WITHOUT WELFARE ITS HARD TO EARN MORE PROFIT
umang goyal: Organizations are run by people like us only....and lately these have realized the worth of giving it back to the society. Some may even have self-serving motives behind this......so its our moral responsibility that we shud not mix social work with self-serving motives
Manik Gupta: Yes agreed to that point but i want to say that Profit is the main Motive of the businesses and the companies which are established for the social cause generally tend to go toward the losses
s_kjalan: thats why psu are n loss thay are wasting lot of money of the tax payerthere is no use of these psu thats why oru FM decide to sell these companies
Sagar Rastogi: being selfish does not mean being greedy only for money.. being selfish means thinking of everything from one's own point of view without caring for anything else. In today's newspaper, there is an article which says that many BPO companies are actually registered in tax havens like Bermuda, Cayman islands - even though their entire operation is in India. Why is this? just to save tax
Ashutosh Goyal: no mr rocky. if u learn from events from tht time u'll learn y mr gates eyes opened in only tht certain peroid of time whn our one cabinet minister made statement abt open source....... and after tht donate he also change his statement again in pubic
jr_phad: see .. basic point .. is that ... whether its business or nething else .. IT HAS RULES & ETHICS .. that needs to be followed
Ashutosh Goyal: this all is business management in which MS is well known
Gargi Dadhich: Guys basically I feel the common man might not be in the business, today, he cannot sit dumb and expect various companies and organizations to think for him...if its the cell phone company or computer manufacturers...they need to make profits for their survival.....NOW one can say that at what cost profit is to be made...if its at the cost of human lives then they are being selfish!
anil sheth: I DUN AGREE . SEE RELIANCE IT MAKES HUGE PROFITS N WELFARE 2
s_kjalan: see there si some need of the psu only in those sectors taht are essential but no private players are interested to go in that field like education ,helath
floralbonjour: lets define selfishness .selfish is thinking of only our own good, thinking of only our own profit.take an eg of a small project in coll.if i am selfish and im working in a team and think of only my profit . my team will suffer.my project wont do much good tho ye i will succed in creating my own good impression by being selfish.now has this been a profit ?
anil sheth: TATA, ONGC, ESSAR R GUD EXAMPLES
umang goyal: there is nothing wrong in thinking of one's self- interest in biz......thats the reason why we do biz - to create wealth n oppurtunities for everyone. The problem comes when we go to the extreme in serving ourselves using unethical means
jr_phad: ya good point priyanka ... see ... even if COMPANIES MANAGE TO MAKE SHORT TERM PROFITS >.. they are loosing .. on LONG TERM .. trust ...
Ishan Sethi: But are we forgetting that each company has a set of Business Ethics and most of them follow a Corporate Social Responsibilty... Do u realize how many private firms come forward and donate enormous amounts on account of Natural Disasters like the Tsunami and for Defence purposes like Kargil.... Is it their responsiblity or the Governments responsibilty??? They do it in interest of Mankind
s_kjalan: See if you will only for your company tha nyou cant suceed If you are thinking about the social welfare before earning profit how can you business suceed
Sagar Rastogi: The controlling stake of all Tata Companies is held by a holding company, a large fraction of which is held by charitable institutions.. so clearly, the profit earned by these companies is of great help to humanity, however this does not make the management of any Tata ccompany any less selfish than any other company
Ashutosh Goyal: in one more way u can see this selfishness. todays's time in india is of IT. we r making heel out of money from IT sector. bt how many patents we hv in tht area. y? coz we selfish. we jst need money. an outside companies identify this thing and making monry out of it.......thr get work from us pay us n get patient on tht and everything of thr now
Sagar Rastogi: I completely agree with goyal, according to the theory of capital-ism, when everybody thinks only for himself, the entire society is benefited
anil sheth: IT IS THE PSYCHO OF ALL COMMON MAN. NONE IS GOD HERE. ECONOMICS IS NOT POSSIBLE WITHOUT PROFIT. A COMPANY IS ENCOURAGED 2 TAKE MORE N MORE ECONOMIC ACTIVITIES THROUGH PROFIT. THERE ADVANTAGES N DIS ADVANTAGES OF SELFISH B.M BUT I THINK EARNING REASONABLE PROFIT N SURVIVING 4 A LONG TIME IS THE BEST POLICY."THINK OF ALL"
www.UrPercentile.com: REQUEST EVERYONE TO GIVE A CONCLUDING STATEMENT .
Manik Gupta: In the group we all discussed that the main aim of the business is TO GAIN PROFIT, but to gain it in a way that it causes losses to general public is Being selfish . There are examples of companies like Merck pharaseuticals , Infosys, Microsoft and CSC , which are gaining profits but at the same time are not becoming Selfish and understand there Social responsibilties.
Ishan Sethi: Well to conclude, I believe that Business Management cannot help a company by being selfish... In today's corporate world each company needs to follow Ethics and serve Society.. There is no harm in making profits, because only when the " I " is good will the "WE" become better... As long as that is kept in mind.. Business management cannot be selfish
Sagar Rastogi: To conclude - it is only natural for businesses to think only of themselves and their goals, which today include people, planet and profit and since business management serves business, it is obligatory for them to speak selfish language
s_kjalan: Bussiness management should always speaks selfish language ............They haveto think only for their business but its necessary for all of the companies they do some welfare work but its the work of the managment to get credit of that welfare work
Ashutosh Goyal: mr rocky as stated earlier tht companies do tht for two main reason. one it add values to thr brand and name. second gain public support and etc. ya thy hv ethics bt only to some extant.
floralbonjour: my conclusuion is : i define selfishness ans one's own good only and buisness managemnt includes overcoming selfishness. buisness managemnt is all about profit ,profit for all, when the profit benefits all, the customers increase which in turn leads to more pure profit.if short term profit is only wat we want then being selfish will c to it that its short term.mature buisnessmen look for long term profits combined with etiquetts and hence r succesful
anil sheth: EARNING REASONABLE PROFIT N SURVIVING 4 A LONG TIME POLICY will be the conclusion of this topic
anil sheth: CONCLUSION: IT IS THE PSYCHO OF ALL COMMON MAN. NONE IS GOD HERE. ECONOMICS IS NOT POSSIBLE WITHOUT PROFIT. A COMPANY IS ENCOURAGED 2 TAKE MORE N MORE ECONOMIC ACTIVITIES THROUGH PROFIT. THERE ADVANTAGES N DIS ADVANTAGES OF SELFISH B.M BUT I THINK EARNING REASONABLE PROFIT N SURVIVING 4 A LONG TIME IS THE BEST POLICY."THINK OF ALL"
umang goyal: Conclusion - Well we had a mixed view here, most of us agreeing that biz is synonymous with Profit. Also, we talked abt companies taking up social responsibility. But there is no denying the fact that certain corporate houses are indeed going the unethical way to make profits. We need to have strong policy enforcement to check this
Gargi Dadhich: In conclusion any business management for survival of the business in the market has to be self-centric - in the sense it has to think for itself and make profits. In doing so if it is being selfish in competing with other organizations/ companies - it is a fair deal. However if the company makes profits at the expense of ethics/morals which affect the society then it is an unfair practice.
www.UrPercentile.com: OK THANKS EVERYONE.
jr_phad: ya right manik ...in todays ...busienss ...management ... SELFISH .. language is clearly damaging .. a lot of social terms n norms ... and surely there are trends in the business. .. may be this time its trend .. to do business socially .. but surely .. big players r realising the benefits .. of not being .. selfish ... n keeping it simple n transparent ..
Manik Gupta: Thank You All for the Group Discussion and Urpercentile for conducting the GD.Best of Luck to All !!!
Ishan Sethi: Well good topic UrPercentile... could we have more where we can discuss economics.. Some hard factual stuff... that seems to be the flavour with IIFT and IIM's this time
Ashutosh Goyal: as after this good discussion on "business managemetn speaks selfish language". my pt is tht business management all tell u only to make profit and gain. if in due cource u hv to some mean work or something for u thn u hv to do it