Be a fisherman

While driving back home yesterday, I tuned in to the NPR as a routine habit. At that time, I happen to catch a story on Fishermen’s life – particularly how they deal with the highs and lows in their life. In fact it is the only way of life a fisherman knows. Various thought sparked in my mind and prime being – what a tough life!!! One would wonder how to tackle life when nothing is predictable or usual. To top off the story – it is amazing that fishermen encourage their kids to follow the same profession. It must be the love of fishing.

Anyway, I thought the story appropriate to share given current tough business environment. Check it out or listen to the audio.

(The audio is 5 min or so long)

3 thoughts, I picked up:

1. Cooperate and Collaborate – foster your community; commit to it, help and support each other

2. One has to love the line of business so much to encourage your kids to follow the same

3. Above all – have a positive ATTITUDE. It is THE difference

Find good people around you who share your enthusiasm and “can-do” attitude and let’s go to bat (fish) together. Enjoy!!!

Difficulties mastered are opportunities won

Tough time present opportunities otherwise not available. Current economic environment is just one such opportunity.

Much depend on how we as individuals act and enable others to act to make the best of it. It is  our collective attitude that determine how an organization will fare as the rough weather passes.

Few thoughts:

1. Know yourself – recognize your strength and weakness. Position where your strength can make a difference

2. Work with people, regardless of their position, who share optimistic perspective on things (equally important shield yourself from individuals with negative attitude)

3. Know where you are going; bring focus on critical few; and make hard choices necessary to accomplish

4. Have sense of urgency to achieve. It should be driven out of what you plan to accomplish and not fear. Fear usually motivates but in the wrong direction

5. Roll up your sleeve and get involved directly with your customers, products or whatever your line of work. It helps appreciate perspective otherwise missing

Lastly –  communicate openly and candidly.

Remember, in the current environment – it is high time to demonstrate the winning attitude and make a difference. Opportunity is knocking at our door step – question is who is prepared to respond?

Globalization of R&D

As world continue to flatten and economies become increasingly inter-connected – globalization of R&D remains a successful approach. Booz & Company published its recent study of 1000 public companies sharing the trend; rationale and geographic growth. The study is pretty recent and it was published in Winter of 2008. 

Check out the study here. 

This study emphasize – what I have always believed in – that globalization of R&D is just not about lower cost. Although cost gets more touted than the overall perspective that globalization can bring. It is about Innovation, access to better talent pool and market proximity otherwise not available. 

I also believe that doing it right require time and commitment.  There is no quick fix. In fact, more established an organization – harder it can be. It is like any other execution effort where there are companies that has successfully implemented the model as there are countless others who tried and failed.  

 

 

Snippet of message that sums up the study:

“… companies that invest wisely in a multinational innovation footprint are gaining far better returns on their R&D investment than companies that exclusively keep their laboratories at home — or that fragment them across a wide variety of locations.”

Here is a data point pertaining to the globalization of R&D as it relates to US: 

“At first glance, observers might think that this represents a loss of jobs, intellectual power, and influence for the home countries of these companies. But innovation spending seems to flow in both directions at once. Even as the companies based in the U.S. performed $80.1 billion worth of R&D in other countries, companies headquartered elsewhere poured $42.6 billion into R&D conducted in the U.S.  In fact, 40 percent of the money spent on R&D in the U.S. is spent by companies headquartered elsewhere. The total amount of R&D spending in the U.S. is 2.7 times as great as in Japan, whereas the spending generated by companies headquartered in the U.S. is only two times as great.”

Starting a business

Peachtree team posted a video discussing the merit of having a good accounting system on your side to help with your startup business. Sage is your business partner who want to see you succeed and grow your business. 

Check it out.