This article is published in Business-Standard 23rd March 2009 ,CLICK HERE for the original link, written by Mukul Pal...

A young professional who considers me an aunt (the agony type) came to me in a state of distress. With a career graph similar to that of other executives who were considered hot until now, he was gnawed by thoughts that he may be unemployed in a few months from now. Having lived through a few economic downturns myself, I counselled him on some valuable traits which could keep him afloat.

Bill Cosby, arguably the best comedian in the US, once said: “Is the glass half empty or half full? It depends on whether you are pouring or drinking.” Many of us are now on the undesirable side of long-term prosperity, either for the first time or definitely after a long time. In these vulnerable times, here are some thoughts on qualities that will help us in a recession.

Some B-schools, particularly those that are not considered ‘premier’, seem to be victims of a ghastly whisper campaign. Students of these institutions, who have to opt for their specialization, are being warned of hardships if they make a wrong choice. To me, the only wrong choice to make is to be in a field you don’t want to be in.

Sir Ken Robinson, the internationally renowned expert on creativity who has lectured passionately on education, has beseeched parents and students to pursue what they love doing. He says, “We cannot prepare for the future because the future is unknown.”

The Ireland-born English writer and poet Oliver Goldsmith said, “If frugality were established in the state and if our expenses were laid out to meet needs rather than superfluities of life, there might be fewer wants and even fewer pleasures, but infinitely more happiness.” My maid is a cheerful lady who lives in an 8x8 feet hut with her mother and daughter. She has aspirations, particularly for her child, and is a good bargainer when it comes to her salary. She goes about her work with a smile on her face and a song on her lips. I do hope this thought helps you imbibe and practise the next attribute.

Almost all holistic systems of healing, including those that claim to be life altering, have one aspect in common. They encourage you to say “thank you”, be it for the music, the food or the blue skies; whatever you take for granted. In simple terms, ‘count your blessings’. Envy on the other hand is defined as the art of counting other people’s blessings and is best kept on a tight leash.

Humour will probably seem too trivial in a time of such hardship. But to look at life seriously, one needs a sense of humour. Oscar Wilde, my favourite humourist, said: “It is a curious fact that people are never so trivial as when they take themselves seriously.”

I believe that more than IQ or EQ, HQ or the Happiness Quotient is what we should look at. If on picking up a copy of Reader’s Digest, you go straight to ‘Laughter, the Best Medicine’, ‘Humour in Uniform’ or ‘College Rags’, you score highly on HQ.

Art Buchwald was able to find mirth even in the process of dying and wrote a book on it called Too Soon to Say Goodbye.

A young entrepreneur called Manjunath used to run an electrical products shop in Chikpet in Bangalore and worked hard to make his business a success. He noticed that it took a long time and many trips to the tea shop to get beverages like tea and coffee supplied to his shop. He also found that all the other businesses in the area faced the same problem. Therefore, he set up a hot beverage delivery service where local businesses could order tea by giving him a ‘missed call’ on his mobile. Alerted by the ‘missed call’, Manjunath sends a delivery man with tea and coffee to the customer’s premises. Today, he has a roaring business popularly called the ‘mobile tea shop’. He has also expanded the menu to include seasonal drinks like buttermilk. This may not be his ‘dream’ enterprise, but it is one that can definitely fund almost any dream of his!

In a story made popular by Abraham Lincoln, it is said that an Eastern monarch once charged his wise men to present him with a sentence which should be true and appropriate at all times and in all situations. They presented him with the words: “And this too shall pass away.” Appropriate words those for these tough times for they inspire us to focus on the simple qualities required to keep marching ahead.

This article is from THE SMART MANAGER Jan-Feb 09 Issue....Article by Aditya dev sood.

The world has turned upside down and may take time righting itself. Rather tha dreaming about remaking the world, many creative consultancies now have to think about making their next payroll. When growth goes negative, design begins to look like a luxury and budgets are frozen.

Here are a few pointers to help you make the best of a temporary recession:

Create a burn rate optimization tool :
Make a six month survival plan. Establish that you can and will still be in business in six months time by cutting spending and delaying investments. Within that horizon you will have found ways to understand and adapt to new market conditions and flourish again.

Enter the crisis:
It may be a management chiche that in Chinese, crisis = Danger + Opportunity, but it is true nonetheless that in a crisis people change everyday ways of thinking and become open to new options and ways of doing things. The new can more easily become the familiar, more so in a naturally creative company.

Argue from efficiency:
there are two angles. First, out sourcing works because it leads to business efficiencies. Creative consultancies represent a form of outsourcing, though they are not conventionally seen that way. Show your clients exactly how you are a more direct path to innovation than their internal team. Remind them that you have a wider breadth of expertise across a range of industries; that you are in tune with current design trends; that you have therefore accumulated expertise and specialization, while their internal team knows only how to deal with their particular widget. Second, if a client sees design can help them succeed in the market by creating products that their consumers actually prefer. Design is the path out of stagnation toward innovation and new market opportunities.

Thrive through adversity:
creative people know better than most that the mind focuses better as the deadline draws near. Share the fear with you larger team, and allow the group to consider new market needs they can fulfill, ones they might have earlier thought were too infra-dig or beneath their caliber

Build systems and establish processes:
The slack you're enjoying now is actually haven-sent, given how busy you've been over the last decade. Figure out how to improve internal processes so that the company moves like greased lightning when things finally pick up.

Live each day (as if it were your last):
This is hard for any team or person to get right, but most especially for young, lateral-thinking minds, pushing continuously into the future. Even as you pedal harder every hour of your eight hour day, step back and step out during after hours. Spend time with family and take good care of yourself. An economic slowdown is a chance to take a breather, to reconsider your priorities and the creative directions your company should take.

Bidder have to offer a price higher than the two-week formula, which will benefit shareholders. Those who want to exit can do so when the offer is launched while other share holders can choose to stay invested.