Obama - the first 100 days

The popular notion is that a President's effectiveness can be assessed based on the first 100 days of taking office. So how did Obama do?

Well, I think he's been pretty darn good. His approval ratings are pretty high - even more people like his personality. Not everyone agrees with his policies but, IMO, he's done a great job so far. 

He's avoided big losses, while securing some big wins.  His presendential campaign was built around the word "change" - he has definitely brought changes after taking office. I am one of those optimistic ones who think these changes will bear worthy fruits in the long-term. At the time of this writing, there are a few indications which point towards economic recovery - a slow one though. Only time will tell the exact effects of these change, but for now I would like to congratulate him for sticking to his campaign promise - "change".

Timing Strategic Moves

The McKinsey article about strategy and it's timing is worth a mention. The article is nicely put together with sufficient data to back the arguments. 

One of the ten pronciples of economics is "People face trade-offs" - this is so true. At this critical stage in the economy, companies with cash face even bigger trade-offs: whether to acquire companies at discounts, invest in new projects or to save cash to weather this turmoil. Well, it's a nice problem to have, isn't it?

Is management a true profession?

I enjoyed reading the article "It’s Time to Make Management a True Profession" written by Harvard professors Rakesh Khurana and Nitin Nohria. The original article can be found here. 

In brief:

* When compared to other 'true' professions such as those of Doctors or Lawyers, the management profession lacks a way to enforce code of conduct. 

* A management degree is not necessary to become a manager. However, professions like Doctors and lawyers require formal education. Even if they didn't, you would not trust an uneducated so-called doctor, would you?

* Managers with an MBA degree are less likey to invest in continuing education.

* Because of the above points, the authors propose a governing body to oversee the members' compliance and enfore code of conduct.

The other mentioned professions have a textbook/formal way to approach typical situations - like while treating a patient or while handling a legal case etc. The situations facing decision making managers are typically subjective and circumstantial. While it may be tempting to fault a manager after the fact, but it's not easy to devise a handbook approach to such situations - because every situation is typically different. The only real knowledge that can be imparted with an MBA education is the decision making framework. 

Ethics is more of a moral issue. Whether a governing body can really enforce code of conduct is again a debatable issue.  Professionals are aware of the morally right choice, when making fraudulent moves, hoping that nobody would find out. The well-known accountants are members of a governing body which enforces certain code of conduct. How many accountants have not been found guilty of unethical behavior?

PGPX offer

My apologies for not being active on this blog. 

PGPX @ IIM-Ahd

I applied to the PGPX course offered by Indian Institute of Management - Ahmedabad in Aug 2007. I was offered an admission to join the 2008-09 batch (PGPX III). For those not familiar with PGPX - it's a one year, full-time, residential executive MBA course offered by IIM-A.

Due to personal commitments, I couldn't join the 2008-09 batch and requested for admission deferral. IIM-A is pretty accommodative and approved my request. 

In Nov 08, when the time arrived to decide for the next batch starting Apr 09, I found myself again in a situation in which I have to stay put in US. So, for the time being I'll remain in the US and forego my admission. IIM-A doesn't let you defer your admission twice. Too bad. 

Not sure how badly I'll regret the circumstances, but the decision (actually it's not even a decision) is clear when there is no choice and I had no choice. I was so prepared and looking forward to join the course but in my case the choice was clear. I have waited so many years, one more isn't too bad. I may try again next year.

Meanwhile, I have been exploring other options, but haven't found the one which fits the bill.

BTW, the third PGPX batch grduated in March 09. The placements have not been spectacular, as expected in this economy. It's clearly not the best time to graduate.