Parimal Merchant Workshop

The Bhawanipur Education Society College organised the much awaited workshop on Balancing Your Work and Home by Professor Parimal Merchant of SP Jain School of Global Management, Mumbai. But this time it was not only meant for students but for all age group (open to outsiders). Business person, Homemaker showcased huge interest as their presence surpassed the number of students.

Mr Merchant spoke about managing both work and home and how to ensure a healthy balance between the two while doing well equally at both. Maintaining a healthy balance between work and home is necessary, especially in an age where work pressure often leads many of us to spend less time at home.

Workshop was a two day event held on 24th – 25th January 2015 for 10 hours.

Day 1 Managing Work

Day 1 Managing Work was on Managing your work at family business, which started with the introductory speech which was delivered by college Prof.Dilip Shah, who gave the insights of the workshop and the manner it will be conducted for 2 constitutive days.

Prof.Parimal Merchant started without much delay and headed straight toward the business. Mr Merchant’s points where based on the book called Managing for Results by Peter F. Drucker. Some of the points discussed where:-

ü  No business person thinks of future.

ü  No business person knows Reality.

Talking about reality their where 7 of them:-

Reality 1-    Resource exists outside. Refered to Captain Gopinath of

Result exists outside. Refered to Lakshmi Mittal

Reality 2-    Results come from solving problems not form solving solutions.

Reality 3-     Best resource should be an opportunity not on problems.

Reality 4-     Results comes from differentiation.

Reality 5-    Differentiation is transitory

Reality 6-    We are outdated.

Reality 7-      We are mismanaging.

Prof. Merchant stated that we are outdated and should grab the opportunity without thinking about the problems or rather future. After lunch Prof. Merchant discussed about the mental state or the condition of a person and their various reaction on business.

Post Lunch Prof. Merchant discussed Mental State

Eg- Mother (self) & Child (mind)

i) Diffused Vitality

ii) Doubt / No doubt Cycle

iii) Search

iv) Belief

v) Experience

Day 2 Managing Work

Day 2 Managing Work which was on Balancing your Home and family business. The base of the second day discussion was based on a joint family business in Udaipur with 42 members. Prof. Merchant believes that “the best system in the world” is a joint family and how Western World needs to learn from the Indian Culture about the family values. Sir talked about how Caste System in India was the good for society and how today because some of the people who believe they are higher than others has deprived our society, the same thing applies to a Joint Family where if any one person believes that he is higher than above then the family begins to fall.

Discussion on Generation Gap was made in which sir quotes “Generation gap is nothing; it is only the Communication Gap between the parents and children.”

Mental Preparation for Marriage in India is necessary for both the Bride and the family where she is being married.

Important points for family business

i) Disagree and commit

ii) “I told you so” should not be used

iii) Family Meeting is Important

iv) Both Mother and Father are important to bring up the child.

v) Women must be told everything about business and vice versa.

Family Business is Stronger because of:-

i)  Ownership Identification.

ii) Unconventional Strategies

iii)  Inherent Contradictions

Prof. Merchant version of Family Business is like Flying Kite (sometimes aggressive and sometimes defensive), the man in the story of Tiger and Cobra. Sir said today Indian economy is stronger because of Family Business.

Later on he referred some books like Dandha, Simply Fly, and Rich Dad Poor Dad and so on to know more detailed information about family business. The session ended with a vote of thanks by Prof. Dilip Shah and a memento was handed over to the faculty by Mr. Miraj Shah, the Vice President of the Society.