An indian write a letter to pakistan karen

December 12, by Karen Covy Comments The conversation starts something like this: But, I want to save my marriage! I mean, what can I do?

An indian write a letter to pakistan karen

It was breaking up in full view over the past few years, except that it was not in the way that analysts think about banks. The worst is yet to come, but I thought I should write these thoughts down so that events can either confirm or deny my worst assessment.

The weakening of the Standard Chartered franchise offers the most instructive lesson on managing a global financial services business today.

Writer, editor, ghostwriter, personal historian

The lessons were actually already forthcoming from much that was happening to the other British banks — Barclays, RBS and Lloyds TSB — between the years andexcept that it struck no one to document them for subsequent CEOs to learn from.

So, now in walking right into the same puddle, Standard Chartered Bank offers us a refresher course to home in the key points. I had made assertions such as investment bankers do not have a good track record as leaders of commercial banks, because they are led by a very different set of priorities and commercial banks require leaders who are more prosaic in their approach — hands-on, being close to the people and the organic processes and so on.

A commercial bank is a franchise in the real sense of the word, because it depends on resonance from both from employees as well as from the customers. Unlike an FMCG fast moving consumer goods or a manufacturing company, it depends so much more on human interaction within the organization rather than top-line marketing or automated distribution processes.

Over the years, many a smart person have found out to their detriment that no amount of strategy, technology or massive capital can replace the years of patient franchise building and the repeated drilling with ordinary staff that enables a bank to reach its full potential.

When all is said and done, the failure of Standard Chartered Bank will be a rehash of the mistakes of other banks and other leaders in the past ten years. Fred Goodwin of RBS. But it appears that Peter Sands was determined to offer his own experience as the one-stop final statement for the industry to learn from the mistakes of the past decade.

I think there were about six areas where Peter Sands failed his own people, and in doing so, failed the franchise: Peter Sands, from the beginning of his leadership at StanChart, had vocalized to the analyst community and internally to his own staff, his management objectives of growing the business by a certain percentage every year, meeting a specific dividend commitment every year and so on.

There was nothing unusual or clever here. HSBC did that more recently. So do entrepreneurs like Emilio Botin and other entrepreneurs, except that they have such a strong feel of their franchise that they can feel to what extent it can stretch and thin before snapping.

The most important lesson to be learnt from Sands targets-based management style is that even when targets are met, they tell you nothing about how the franchise is coping.

What Sands did not pay attention to was how much his people were going to kill themselves internally to satisfy those commitments. The difference was that Sands does not have that inherent instinct in reading people that a Jack Welch or a Warren Buffet had in knowing that they have indeed hired the best persons in the first place.

If anything, the people he now surrounds himself with shows that he has been a poor judge of people with a poor feel of the ground, and was therefore not able to keep that kind of light touch that Welch and Buffet kept on their key people and were still able to achieve their goals.

We Won’t Take Your Class: An Open Letter to Chenjerai Kumanyika – The Tiger Town Observer

The Standard Chartered he inherited had an army of plodders, very ordinary but impressionable workers who had been moulded to believe from past crises that they made a difference to the organization.

They may not have been what he wanted given his management consulting brain, but they were the only raw material that God would give to him to work with. The bank gave them respectable jobs in an age when the best jobs were with much larger multinationals. The bank gave them a sense of community, both within and with the society they served.

The bank was small enough that a simple pilot project in Singapore could easily be transposed to the global business. The organisation had a high number of lifers — employees who had dedicated their whole careers to the organization.

So it was incumbent for Sands to be mindful of the fact that any new person he brought into the organization had that empathy to draw from the inner strength of very ordinary staff.

There was no one thing that Bertamini did that was disastrous, only that he did not give his staff a reason to come to work every morning, that transcended the numbers he wanted from them.

Mike Denoma before him had instituted the various social and marketing programmes, including the annual marathons around the world, that gave the franchise an ability to connect with its local community and enhance a brand that its own employees could believe in. Bertamini hails from a s model of GE style running a business as an aloof set of numbers.

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The GE culture that includes long conference calls, numbers, numbers and more numbers, a constant revaluation of staff and a constant managing upwards may appear to be results orientated. But contact with the ground is kept light so as not to get personal when it comes to delivering numbers, and after a while, results in a very competitive world do not matter anymore.

I have come to see the GE proposition as one that is dated, going back to the s, when the monoliners were kings in the US. The focus then was superior ROEs by squeezing costs and streamlining processes.

It worked well in the credit card business in the US, which in that time was all about delivering industrial quality numbers. Jack Welch and the GE leadership style of running everything by numbers and processes did not allow the business to build newer models based on customer, rather than product profitability.

At one stage maybe in the periodStanChart was at a pioneering point in terms of consolidating its formidable sales force capability with its channel integration efforts. Both its on-the-ground sales force and the new call centers it was putting in place were seeing results, except that it required considerable thought in aligning the two because the people in the virtual channel were saying that they were originating business for the physical channels and vice versa.

This is not something a Steve Bertamini approach was designed to deal with. Not just asking for numbers from far away London or Australia, where Bertamini once operated from because he was never really comfortable with the rough and tumble of Asia.

I am not sure what Peter Sands thought of his other lieutenant, Karen Fawcett. I watched as she hired just about anyone available in the marketplace, offering them good salaries, with no concept of cost and income.

She then started quietly letting people go. To be fair, the transaction banking industry itself was undergoing tremendous change in that period.Hi, everyone! This section is devoted for questions any readers may have about marriage in Ukraine, the emigration / immigration process & Ukrainian culture and traditions.

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The Phoenician alphabet, called by convention the Proto-Canaanite alphabet for inscriptions older than around BC, is the oldest verified Phoenician alphabet is an abjad consisting of 22 letters, all consonants, with matres lectionis used for some vowels in certain late varieties. It was used for the writing of Phoenician, a Northern Semitic language, used by the civilization. 🔥Citing and more! Add citations directly into your paper, Check for unintentional plagiarism and check for writing mistakes. A fifty page letter by Karen to the people of Pakistan, written in (approximately) before her planned visit to the country. Karen after receiving TED AWARD launched her “charter of compassion” worldwide and the tour was a part of her campaign/5.

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an indian write a letter to pakistan karen

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Dear Chenjerai Kumanyika, I was troubled by the condescending tone of your letter to Coach Dabo Swinney, so I felt it was only fair to respond in kind, although I don’t . Ram Subramanian made this video to break the silence of 68 years, and the wall that turned ‘We’ into ‘You and Me’.

Standard Chartered Bank is broken.

an indian write a letter to pakistan karen

It was breaking up in full view over the past few years, except that it was not in the way that analysts think about banks. The worst is yet to come, but I thought I should write these thoughts down so that events can either confirm or deny my worst assessment.

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