wzcc agm -2012 souvenir

zarasthi_Layout 1 12/26/2012 2:28 PM

AGM - 2012 WORLD ZARATHUSHTI CHAMBER OF COMMERCE 1

zarasthi_Layout 1 12/26/2012 2:28 PM Page 1

AGM - 20122 WORLD ZARATHUSHTI CHAMBER OF COMMERCE

WZCC heartily welcomes

all Delegates from across the World

to

Singapore


BusinessEconomic Forum

AGM - 2012 3WORLD ZARATHUSHTI CHAMBER OF COMMERCE

Another eventful year has rolled by. There has been a spurtin our activities. In a global body like ours, it is obvious thatthere is a wide divergence in the tempo. Nevertheless, the

trend is positive and heartening.

Our Board decided to enthuse our diaspora in Singapore andHong Kong to join us in enlarging our movement. We have asmall but very vibrant and thriving business communities there.Hence, we will be holding our AGM in Singapore in January 2013to ensure a more globally representative participation andprovide better opportunities for networking among geographies.Our office-bearers have visited Singapore and tied-up the Hoteland logistic arrangements with close cooperation and support oflocal Zoroastrian community leaders. Let us all ensure that wemake it a grand success by being here in person.

At the AGM this time we are launching a Business EconomicForum where we are inviting individuals with global experienceto share their insights of how Zoroastrian entrepreneurs,particularly the budding ones, can participate and succeed in ahighly globalized and competitive environment. We will beprivileged to have with us Mr. Neville Shroff, a business baron ofHong Kong, to preside and moderate the interactive session witha highly distinguished panel. During the AGM the KeynoteSpeaker will be Mr. Jal Shroff, an Honorary Member of WZCC, anda highly celebrated businessman with a vast worldwide network.

In recent years we have seen a resurgence of women breaking theglass ceiling and venturing into entrepreneurship. To give thistrend a forward thrust, “WE” (Women Entrepreneurs) – waslaunched. It is an initiate to recognize Women Entrepreneurs as aforce to accelerate economic growth. Great enthusiasm wasevinced at this move and we look forward to WE gathering seamin the coming months.

Encouraged by the success of the entrepreneurial developmentprogrammes conducted in Mumbai, during the last three yearswe have decided to sharpen our focus by building a partnershipwith NEN (National Entrepreneurship Network), a well recognizedorganization set up with the cooperation of leading institutions inIndia to develop entrepreneurial skills specially among theyounger generation.

The term of our seven International Board Members is expiring byend 2012 and we look forward to inducting new Members on theBoard so that we get the benefit of their inputs and reinvigorateour mission. Above all we can only strengthen our mission.Above all we can only strengthen the WZCC by our own energeticinvolvement. Hence, let us all redouble our efforts in thisdirection.

Minoo Shroff

PRESIDENT’S MESSAGE

u Minoo Shroff is Global President and Honorary Member of WZCCand Past Chairman, Bombay Parsi Punchayet.



2012 was a year full of challenges. Nomatter what part of the world you livedin, everybody was affected by the debt

crisis in Europe, the political instabilities in theMiddle East, charges of corruptions, conflictsof political ideologies and other eventsslowing down economies everywhere leaving200 million unemployed around the world. Inspite of these adversary conditions, WZCCmanaged to move forward with its clearmission by offering networking opportunities,seminars on career guidance, visits to businessand manufacturing sites, talks on business,financial education, tax management,entrepreneurship, etc.

Thanks to the optimism and guidanceprovided by the WZCC President Mr. MinooShroff and the dedicated teamwork of MumbaiChapter members, we look forward to a

successful Annual General Meeting inSingapore. Considering the strength of theemerging markets of the South East AsianNations and the leadership role played bySingapore, the choice of venue could not havebeen better. The Zarathushti Community inSingapore too is growing in size and influenceand we feel confident that a strong Chapter inthis region will help us energize theZarathushti entrepreneurial spirit.

I look forward to a peaceful and prosperous2013 in which WZCC achieves substantialprogress.

Focus on SEANRustom Engineer

VICE PRESIDENT’S MESSAGE

u Rustom Engineer is the Vice President of the Global Board of WZCC. After working in the

Automotive Engineering in the mid-west for about 20 years, he has extensiveexperience in founding and operating small businesses. He currently resides inHouston, Texas and is actively involved with the local Zarathushti Community.

Considering thestrength of the

emergingmarkets of the

South East AsianNations and theleadership role

played bySingapore, thechoice of venuecould not have

been better.


Everyone wants success for oneself, whether inbusiness or generally in life. But success eludessome and does not come easy to most.

The need therefore, for a quick fix formula forsuccess, depending on ones concept of success. Tomost success in the context of business, is high networth. Though it may not be the ideal concept, butthat is how the world generally measures success.Some may experience success in pursuing onespassion, while others may measure it by the circle ofcontacts in high places; or it may just be attainingname and fame at whatever cost. This is howmultifaceted success can be.

But the most acclaimed and sustainable success isvalue based – depending on ones inclinationtowards society, environment, innovation etc.Besides value based success gives a feeling of lastinginner happiness, fulfillment and well being.

After all the material success in the west withburgeoning Gross Domestic Product (GDP) there is ashift in evaluation through a new quotient ofhappiness as compared to pure economics. There isa realization that real success should be measured interms of Gross Happiness Product not GrossDomestic Product. In a survey across the globe thefinding were very revealing. The states wherebusiness is value driven people are generally happyin spite of high level of taxation like theScandinavian countries. They are neither the largestnor the wealthiest state but they are the happiest.This is akin to Zarathushti philosophy of pursuit ofexcellence in ones chosen field and happiness andenjoyment in life through honourable means andrighteous conduct.


Multifaceted Success

u Kersi Limathwalla is a graduate in commerce and law and is a Fellow of the

Institute of Chartered Accountants of India. His area of specialisation is taxation,mediation and arbitration. He is associated with several cultural, welfare and

religious organisations locally and internationally.

Kersi Limathwalla

After all the materialsuccess in the westwith burgeoningGross Domestic

Product (GDP) thereis a shift in

evaluation through a new quotient of

happiness ascompared to pure

economics.



During her tenure as Member of NationalCommission for Minorities, New Delhi, Dr.(Miss) Mehroo D. Bengalee commissioned

Tata Institute of Social Sciences (TISS), Mumbai toundertake a study on “Socio-Economic andEducational Status of the Parsi Community in India”.

The ‘Conclusions and Recommendations’ in the TISSreport (December 2009) will be found by those withopen minds to be very enlightening and for thosegenuinely concerned about the community to bevery frightening.

The TISS survey covered 263 households having 763members in the States of Maharashtra & Gujarat;75% of those surveyed resided in urban areas and25% in rural.

Pertinent sections from the ‘Conclusions’ arereproduced:-

“At the current juncture, as the community facesserious challenges on the demographic front, issuesof economic vulnerability of the community havedrawn considerable attention”.

“Despite the perceived general economic affluenceof the community, there are reasons to believe thatParsis are a heterogeneous community in terms oftheir socio-economic status. The WPR (WorkParticipation Rate) of the community is the lowestamong all religious minorities barring only Muslims.The growing dependency ratio, which is a fall out ofthe skewed demographic profile, has restricted theproportion of economically active population in thecommunity. Poverty in the community may not beconspicuous due to the support extended by theTrusts/ institutions. Provision of shelter at nominalrent has been one of the major help provided bysuch institutions. Hence, Parsi poor may not bevisible on the streets or even in slums. However,certain sections of the community are economicallydisadvantaged and live on very low subsistencesupport.

Contrary to the general belief, this study reveals thatthere is a small fraction of the community whichexists even below the poverty line (BPL) as per theofficial definition of poverty”.

Such an unenviable position that our communitypresently finds itself mired into is a far cry from the

days of yore when we lead by example and were thetoast in all areas of human endeavour.

There is no denying the fact that, we Zarathushti’shave a proud heritage. Who amongst us does nottake pride or bask in the glory of our great ancestors.Sir Jamsetjee Jeejeebhoy, Dr. Dadabhoy Naoroji, SirPherozesha Mehta, Jamsetjee Tata, Homi Bhabha,are but a few names in a list that is endless.

We, as a community have been singularly fortunatethat some of the stalwarts of the recent past havenot only matched the contributions made by ourpioneering forefathers

but have also continued the proud traditions ofproviding leadership in all that needs to be done forthe greater good of the society in which we live. J. R.D. & Naval Tata, scions of the Godrej family, Wadiafamily, Field Marshal Sam Maneckshaw, NaniPalkhivala and very many more individuals are partof the luminous circle that have excelled forcommunity and country.

The responsibility of upholding the standardsestablished by Zarathushtis of yore is onerous;nothing short of achieving excellence in diverseareas of nation and community building wouldsuffice in matching the benchmarks established byour forebears. Excellence is one asset which cannotbe inherited; it can be attained only by combining1% inspiration with 99% perspiration.

The accomplishments of the past and the presentmust be analysed rationally, if the same acceptedand expected standards of leadership in society areto be maintained in the future.

History will vouch that only those countries orcommunities that have been economically soundhave provided effective leadership amongst theircontemporaries. It is therefore very significant thatthose aspiring to provide leadership in the futureshould be in tune with the economic realitiesprevailing at present.

We Zarathushtis have traditionally enjoyed an edgeover other communities in India, perhaps mainlydue to the 100% literacy of our members, theplethora of a very large number of trust funds whoextend financial support in various spheres rangingfrom providing housing to extending financial

Dinshaw Kaiki Tamboly

History will vouch that only

those countries orcommunities that

have beeneconomically sound

have providedeffective leadership

amongst theircontemporaries

Necessity to reignite minds of GenNext


support towards educational, medical and all ourother needs. The community is indeed fortunatethat its members can draw upon these diverseresources literally from the womb to the tomb.

However, not many of us know that in spite of beingassured of and receiving such solid backing, theeconomic health of the rank and file of Zarathushtisis in a dismal state of decline. There are no doubt,pockets of immense affluence, which one sincerelyhopes will continue to grow, but by and largeZarathushtis too have begun to slide increasinglyinto grim economic situations which urgently needto be arrested and reversed.

It is an inconvenient truth that we Zarathushtis havebegun to take our rights for granted, convenientlyforgetting all about our duties. It seems that theextensive infrastructure available to meet all ourneeds have made our members complacent, andblunted the edge so very essential in an intenselycompetitive environment.

The trouble-free availability of charity funds to manyin the community, has, barring a very fewexceptions, lulled the Zarathushti spirit ofenterprise, allowed it to become dormant for quitesome time now. The youth are reconciled to earntheir routine college degrees, land white collar jobs,work to a routine, and remain content with aregularly increasing monthly ‘pay packet’ whichmeets their short term social needs.

The vision required to grow, to excel, to provideleadership, appears today to extend not beyond thetips of our nose. Mediocrity in all areas of existenceseems to have been not only accepted but alsoembraced by our gen-next.

Zarathushtis entrepreneurs have become theexception rather than the rule. Our chests swell withpride when we talk about Jamsetjee Tata - theZarathushti who foresaw the need for developing astrong industrial infrastructure for an independentIndia, even before politicians had dreamt ofagitating for independence. How many of us have

made even a semblance of an effort to emulateJamsetjee Tata?

Attaining and holding on to leadership in the future,will be possible, only if there is a distinct change ofdisposition amongst our youth. The transition fromremaining a white collar community towardsentrepreneurship needs to be first understood, thenaccepted and thereafter accelerated. The mostsustainable assets of a country or a community areits people. The people and the people alone are themotive force in creating world history. At such a critical juncture in our existence, one canonly hope that the brilliance and eminenceachieved by Zarathushtis from the past and of thepresent rubs off on our gen-next, and motivatesthem to strive towards achieving excellence.

A fond dream for our community that remains firmlyetched in my mind, is that of a community, healthyin body and spirit; a community free from want, acommunity with vision, a community which takespride in its past but which does not dwell there; acommunity which focuses on the present and plansfor the future.

The community is fortunate that it has within it aninstitution such as WZCC which has the potential tobecome the vehicle of our economic resurgence,through the abundance of community achieversconnected with it. These winners can and shouldtake promising members of our gen-next cadreunder their wings and mould them into becomingleaders in their own right.

Therein alone lays the salvation of the Zarathushticommunity.


The vision required to grow,

to excel, to provideleadership, appears

today to extend not beyond the tips of our nose.

u Dinshaw Tamboly provides management and counselling services to companies in

India and overseas, plans business strategies and provides services on developingand promoting exports to North America & Europe.

He has been actively involved in public welfare activities since 1983 and is one of the founding Trustees of the three WZO Trusts in India and spearheads

their multifarious welfare activities. He was a Trustee of Bombay Parsi Punchayet from November 1996 to September 2008.

He is a Trustee in many other institutions comprising Trusts, hospitals and Agyari’s.

With Best Compliments From

a Well WiSher



ASHAVANS: A Legacy of Leadership

Meher Bhesania

Within the covers of the bookare portrayals of

not onlycommunity

patriarchs, but alsoof young andenterprisingZoroastrian

entrepreneurs andprofessionals whohave made their

mark.

Every Once In A While, A Community needs tocelebrate its identity and uniqueness andrejoice in being what it is. It needs to take pride

in itself – recall its glorious past, reaffirm its robustpresent and motivate its future generation to carrythe torch of greatness forward. Nowhere is it truerthan in the case of the small, but vibrant Zoroastriancommunity. A community without borders, it hasnot only enriched itself, but also the countries towhich the members have migrated. As worldcitizens, Zoroastrians have risen to eminence,wherever they have chosen to live. It is this essenceof eminence that ASHAVANS – A Legacy ofLeadership, a new book on outstandingZoroastrians captures. Featuring the profiles of 101achievers and community stalwarts from variouswalks of life, such as Ratan Tata, Adi Godrej, NadirGodrej, Lord Karan Bilimoria, H.E. CJI, SaroshKapadia, Minoo Shroff, Dr. Farokh Udwadia, Dr. DhunNoria, Jal Shroff, Neville Shroff and many more, it notonly depicts their career graphs, but also offers rarepersonal glimpses. It opens a window to the livesand ideologies of these high performers, comingfrom different geographical regions around theworld, from Iran to India and from Hong Kong toEurope and North America.

This coffee table book is an eclectic array ofoutstanding personalities from different spheres ofhuman endeavours, such as Business, Finance, Art,Literature, Science, Religion, Technology, Medicine,Law, Community service and other areas. It is areflection of and a testament to how and how muchour small, but remarkable community hascontributed in myriad ways towards the economy,the social milieu and the cultural fabric of countriesaround the world, and finally, towards nation-building itself. Within the covers of the book areportrayals of not only community patriarchs, butalso of young and enterprising Zoroastrianentrepreneurs and professionals who have madetheir mark.

Apart from containing profiles of Zoroastrian menand women who are actively involved in theirchosen fields, it also has an ‘In Memoriam’ section,which pays tribute to stalwarts of yesteryears, wholaid the foundation on which the community’sachievements now rest. ASHAVANS – A Legacy ofLeadership, is indeed, an inspiring read!

The volume authored by me, was released on 9th

May 2012. The year-long of hard work which wentinto its making, has been a challenging and aninsightful journey. I hope that ASHAVANS – A Legacyof Leadership will carve a niche in the hearts of theZoroastrians worldwide.

With each profile carefully crafted and aestheticallydesigned, the book comes with an offering of anaudio Compact Disc of our important ancientprayers, with a lucid translation and evocative music.

ASHAVANS – A Legacy of Leadership, is undoubtedlya collector’s item, and an enduring edifice forposterity. It will find a pride of place in libraries andwill inspire generations to follow in the footsteps ofthe 101 outstanding Zoroastrians, and motivatethem to excel in their chosen fields. It will, perhaps,reinvigorate an entire legion of Zoroastrian youth toemulate the vision, integrity, the empoweringphilosophies and the spirit of philanthropy of theAshavans, and help bring greater glory to thecommunity.

ASHAVANS – A Legacy of Leadership, with its eternalmessage of the triumph of the indomitable humanspirit in the face of challenges, also has a universalappeal and will find a ready echo in the hearts ofanyone who reads it.

u Meher Bhesania Founding Director, WZCC Middle East region,

Founding Director SynergyZ – publication of WZCCChair, 9th World Zoroastrian Congress, Dubai - 2009



Travel and Mobile Technology

Umeed Kothavala

Recall the timeswhen we had to

travel to the agent’sdingy office to get

updates anditineraries, or theyhave to call you?Now it is just a

matter of checkingthe smartphone

The travel industry, particularly small-mediumtravel businesses, has been slow to come tothe mobility table. However, they have now

woken up to its possibilities.

The single major reason is the rise of thesmartphone.

The smartphone has shaken the definition ofpersonal computing, with sudden and far reachingconsequences that affect many industries. The travelindustry is the latest such example, first influencedby the Internet and travel websites, and now beingshaped by mobile devices.

The reason the smartphone is such a powerful toolis because it can be used to access the Internet onthe move. And this, coupled with location sensitivityand personal information, gives us what I like to callthe power of “Here and Now” – a handheld deviceyou carry with you that knows where you are, isconnected to the world and knows who you are. Inaddition to serving as a bi-directionalcommunication tool, this empowers the travelerwith vital information such as reviews of hotels,travel forums, flight prices, and even updated travelitineraries.

Travel business expert Mark Luckey says, ‘Thebiggest challenge modern day travel agents face iscompeting with online travel agencies. As Internetusage patterns shift towards smartphones, themobile device battle field is where travel agenciesare facing particular challenges. It’s a technologydriven, full frontal assault that is making survivaldifficult. It’s time for travel agents to innovate, fightback, or perish.’

He quotes an interesting fact: Expedia has twice asmany hits as the next B2C competitor. so by usingExpedia, travel agents are supporting a businessthat will drive them out of business in the long run.As the travel industry starts to go mobile, here’swhat we’re hearing and seeing:

‘Using my airline’s mobile app, right here on thebeach. Yes, they have seats on the 1st!’

‘Any way to post reviews on this hotel other than onFB? I’m looking to share with friends and onTripAdvisor.’‘I’m able to access itineraries and instant updates onmobile using this travel app! Cheers fromsomewhere in the Pacific!’

‘Recall the times when we had to travel to theagent’s dingy office to get updates and itineraries, orthey have to call you? Now it is just a matter ofchecking the smartphone.’ The numbers around mobility, technology andtravel make interesting reading:l Globally about 50% of all travel is now booked

onlinel The uptake of smartphones in the world

continues to rise exponentiallyl 60 to 75% of all travel websites don't operate

correctly on a mobile devicel Many airlines, hotels, and travel destinations now

offer mobile applicationsl Travelers are increasingly using location based

services on mobile for directions, local information, offers from local businesses andmore Until recently, the travel agent did not feature in the above list, making them extremely vulnerable in the mobile space, as technology marched ahead delivering to travelers what they wanted.

Ongoing and Upcoming Changes to the Business of Travel



To get a share of the traveler'sdollar, travel agents absolutelyhave to adopt a strategicpresence on mobile.

Here are some interesting waysin which the smartphoneimproves and changes the travelexperience:

Information at the airport:Apps like GateGuru help userssave time at the airport byproviding importantinformation. It can guide users toamenities, gates, and muchmore, quickening transitionsbetween flights. It even allowsusers to preorder duty-freeitems, saving time at thedestination.

Holds important documents:Passbook is an app that storesyour boarding passes and hotelreservations in your phone. The app detects yourproximity to the airport and automatically displaysyour boarding pass.

Handles travel itineraries:An application that can handle travel itineraries isvery handy when on the move. Trip in a Pocket isone such app that organizes flight details,accommodation vouchers, restaurant information,and more. It is designed to be a link between travelagents and their customers, letting agents createand send itineraries to customers quickly and easily.These itineraries can be accessed offline as well andcan be updated quickly and easily.

Instant and powerful translation:Translation apps have been around for a while now,but the experience hasn’t ever been so seamless,instant, and accurate. Google Translate and our ownTranslator With Speech (TWS) are good examples ofsuch apps. Using them is as simple as pressing abutton, speaking into the device, and listening tothe translation when you’re done. This could meanthe difference between being lost for hours in aforeign city, and finding help within minutes oflosing your way.

There is obviously a great demand for such easy-to-use utility apps. We found TWS ranked at the top ofthe travel category on the Windows Phone store,immediately after launch!

The biggest challenge to this revolution is sadly thevery thing that drives it – a broadband connection.Travel apps rely heavily on the internet and it can be

tricky to find a strong, cheapmobile broadband connection ina new country. For the individualwho moves between countriesfrequently, finding good localconnections would involve animpractical amount of research.Broadband on roaming isextremely expensive as well. Intime, when mobile broadbandconnections become moreaccessible, cheaper, and moretravel friendly, the apps that havegained ground will face their realtest.

NFCNear field communication, (NFC)is another new smartphonefeature with the potential tomake travel smoother. NFC helpsusers establish radiocommunication via smartphoneby bringing the devices in closeproximity.

It facilitates a number of transactions, including dataexchanges, ticketing, access control, and contactlesspayment, usually through an app. These apps (likeGoogle Wallet) let users store important details likecredit card and loyalty card information, andemploys NFC terminals to enable quick and simpletransactions. The Chinese national bus service, forexample, has successfully employed the technologyacross the country.

NFC has been included in smartphone specs by bignames, including BlackBerry and devices withWindows Phone 8. Though the technology hasn’tbeen seen on the Apple iPhone so far, Apple hasrecently landed a patent for an NFC based shoppingapplication. With these industry leaders putting somuch faith in the technology, it is safe to assumeNFC will be adopted strongly in coming years.

We’ve been in the business of travel platformtechnology as well as mobile applicationBroadband on

roaming isextremely

expensive as well.In time, when

mobile broadbandconnections

become moreaccessible, cheaper,

and more travelfriendly, the appsthat have gainedground will facetheir real test.



development for a while now. From our experience,and from conversations with travel professionals,here are a few suggestions for travel businesses:

l Ensure your website renders well, is easy to use on Apple and Android devices, and uses standard technology available on most devices. Keep it simple, smart and slick.

l Form partnerships, work with technology providers to create innovative apps, get mobile exposure, get your brand into the traveling customer’s hand, and move with changes indigital marketing that impact your business.

l Create a ‘knowledge leader/advice/tips’ blog thatis specifically tailored for mobile device users.

l Look for creative ways to gain brand recognition, brand penetration and customer loyalty andengagement. There are cost-effective ways to deliver compelling value to travelers and yourcustomers should benefit from your experience and the technology that you are able to deploy for them.

l Don’t let this opportunity pass you by – as muchas changing the rules and shifting focus and

attention in the travel business, technology and mobility create new opportunities. Identify newservices you can offer, old ones that can be extended and cool things that your customerswill start to associate with you. Gain theadvantage from the opportunity.

Mobile technology and travel are now intertwined -smartphones are empowering travelers and travelservice providers in a way not anticipated untilrecently. Very soon, it will be difficult to imaginethere was a time without any of this.

u Umeed Kothavala, CEO, Extentia Information Technology.

Create a ‘knowledge

leader/advice/tips’blog that is

specifically tailoredfor mobile device

users.



Good Appetite For Bad MoneyA Global Phenomenon

Adi B. Siganporia

The highest form ofgovernance is the

governance of one’smind. Business willremain clean only if

the mind thatgoverns business is

clean and pure.

In the long past, a businessman wouldconcentrate in his own locality. His vision waslimited. Then gradually he tried to expand his

market and spread his net much wider. He thenattempts to cover his entire Region and then tookgiant strides to cover larger grounds. He thencircled his entire Nation, went forward and thenbecame multi-national and virtually encapsulatedthe Global Market which is popularly talked about as“Globalization”.

This process of globalization had one crucialelement deeply embedded in it which is the joy ofoperating in the world market, knowing andoperating in differing cultures, embracing and thenreacting to various likes and dislikes of customers,experiencing differing attitudes of life etc.; was apleasure to be encountered. This, of course, is agood part of doing business.

However, the disturbing part which becomesdominant over a period of time is profiteering ! Justas a leopard goes berserk when he tastes the blood,a businessman’s appetite increases substantially andhe goes all out to make money – not only goodmoney but preferably bad money and that too inthe shortest possible time !

This is then the starting point of pollution in thefinancial world. Everything becomes impure.Lenders lend money without due diligence,borrowers borrow money with both their eyesclosed, an average consumer spends moneyrecklessly, good habit of saving money takes a back-seat, the tendency to spend more than what oneearns increases substantially, luxurious living andmindless spending without any future back-upbecomes the way of life and ultimately the entirebusiness world becomes the slave of the senses.Application of good mind is simply forgotten. Theresult is economic depression, global downturn,global financial crisis etc. etc. In reality, it is the onsetof global mental depression, it is nothing but grossdepreciation of human character, it is mental andmoral degradation.

We talk of checks, we talk of controls, we talk oftransparency, we talk of Statutory Audits, we talk ofInternal Audit, we talk of regulations and the role ofregulatory bodies and since long, we have beentalking of the importance of Governance :Governance of what ? This question is still

remaining unanswered.

Unless and until today’s human being governs andcontrols his own mind and remains on the righttrack, I am afraid no amount of rules and regulations,no amount of legal framework, no amount ofpolicing will ever be able to cleanse today’s highlypolluted business environment. When “wants”replace “needs”, we invite disaster. One of theweaknesses of our age is our apparent inability todistinguish our need from our greed. Greed createsmadness. Madness of a minute throws a personfrom the pinnacle into the pit. Businessmen preferto have nexus with those who are in power –generally bureaucrats and politicians. Politiciansprefer to have nexus with goons ! Surprisingly, noone thinks of establishing nexus with his own Maker– The Almighty. The so-called powerful forget thatthe more-powerful is sitting right above him but isnot visible. In today’s global scenario, arrogance hasreplaced humility, credibility and self-respect arethrown aside. Those who are quiet and humble areconsidered to be meek and weak. What is lovedtoday is cheap popularity and false pride. Thosewho are “bad” and know that they are “bad” have noguts to call themselves “bad” but they have lot ofgumption to call others “bad”.

The highest form of governance is the governanceof one’s mind. Business will remain clean only if themind that governs business is clean and pure.Businessmen can certainly make as much money aspossible but this has to be within a broad frameworkof law, ethics and customs. Ethics involves moralprinciples. All of us practice “Yoga” but the mostimportant form of Yoga, namely “Karma-Yoga” isconveniently forgotten.

The greatest of all Auditor Generals – The Almighty – iswatching us of every step we take – he knows everythought we generate, every word we utter and everyaction we take. Shakespeare said – “When character islost, everything is lost”. Today, we seem to be turningShakespeare in his grave when we seem to haveredefined what he said years ago. Are we now saying– “When character is lost, nothing is lost”! MayAlmighty help us ! High time we take a u-turn andpray “let us have Good Appetite only for Good Money”.

u Adi Siganporia is the Secretary of WZCC India Chamber, Vice Chairman of WZCC Mumbai Chapter

and a Retired Senior Executive of the Tata Group.


The Tri-State weathers Sandy

and prevailswith

Industry & Integrity!

Best wishesfor the

2013WZCC AGM

inSingapore

from

WZCC-NYA Dynamic Team

Edul DaverNoshir Dutia

Natalie GandhiRusi Gandhi

Meher HodiwalaDinyar Hodiwala

Arnaz ManeckshanaFramroze Patel


With best wishes from :

World Zarathushti Chamber of Commerce - Pune Chapter.

Committee members

Chairman : Viraf Deboo

Vice Chairman : Umeed Kothavala

ex – Chairman : Adi Engineer

Treasurer : Tehmasp Bharucha

Secretary : Khushru Minocherhomji

Jt. Secretary : Vistasp Dastur

Accounts : Rohinton Udachia

Member : Farokh Irani

email: [email protected]



Why We Need More Women in Business

Dolly Dhamodiwala

“God has given us both Brain

and Heart.Successful arethose who use

Both Together” -Gatot Siswanto

In the modern day culture that measures leadersby their ability to project strength and confidenceand define who they are by their external

accomplishments and capacity to prevail overothers, men often score over women. But in doingthis, most leaders become oblivious to the fact that acritical aspect of true leadership is to take care of thepeople you lead and to create a safe and supportivespace for them to thrive - Empathy or the ability torecognize and experience what others feel. Aneffective leader is the one who blends intellectualqualities with emotional ones. The ability to thinkanalytically, strategically and creatively needs to bemixed with an equal doze of empathy, self-awareness and humility. And there can be no doubtthat it’s the women leaders more than men, whohave displayed this blend of qualities. In business, both males and females have to worktogether and the business leader has to manageboth outcomes and emotions of those whom theylead not to mention their expectations. Womenmore than men bring to leadership, a completerange of qualities - self-awareness, emotionalattunement, humility and authenticity. But mostwomen fail to build on these abilities in their race toadopt male styled leadership. Men are generally more aggressive and overvalue theirstrengths and often seek to win and succeed. Butwomen can adopt a different approach capitalizing ontheir own qualities of greater self awareness, betternetworking ability, superior understanding of humannature, stronger connection with their staff, power ofintuition and greater humility. Women can excel if theyresolve to strengthen their leadership styles differentlyand build on these inherent qualities. After all it iswidely accepted today that so many purchasedecisions are made through an appeal to the buyer’semotional quotient. With the entry of more and more women in thelabour force – in USA it has increased from one-thirdto 47% - there is a sure case for a higher percentageof women on the boards of public limitedcompanies. In Europe the percentage of womendirectors on boards varies from 6% in Italy to 22% inFrance. In the emerging Asian economies thepercentage is significantly lower.Sir Richard Branson on Strategies for Success pointsout that if 70% of the household purchase decisions (including big ticket items such as cars and vacations)are taken by women and if nearly 40-50% of thecompany’s staff comprises women, then what is therationale for leaving women out of the key decision

making process in the board rooms? The benefit ofhaving more women in board rooms makes senseboth Strategic and Financial. At Virgin, there has beena steady rise in the number of women occupyingsenior management positions. Virgin Money andVirgin Holidays are run by female CEOs. A Board ismore balanced and decision making is more effectivewhen both men and women with their inherentstrengths stand together and learn from each otherthus adding greater value to their company and alsocreating value for all their stakeholders. What can be true for public limited companies canalso be applied to private and small businesses. Smallbusinesses more likely to succeed, are those whichhave both men and women working jointly in thedecision making process, supporting each other andaccepting their opposites. For women to work jointlywith men as equals or even branch out on their own,they need to step out with confidence, self assuranceand determination. They need to develop greaterawareness of the business opportunities aroundthem and the support systems available to them.Knowledge of product or services to be offered isusually there but that is not enough. It needs to bebacked up with the necessary managerial skills andbasic understanding of finances. Once they areempowered with these skill sets, women can reallywork wonders in business. Women in India, who aspire to start their ownbusinesses, have to shake off their usuallysubmissive and supportive image, adopt anentrepreneurial mindset and equip themselves withmanagerial skills to take advantage of the emergingopportunities in the SME sector. The sector spansover numerous women oriented small industriesand businesses such as IT, healthcare, travel andtourism, hospitality, education, food processing,garments, etc. with rapidly growing domestic andexport markets. Support from Central and StateGovernments, Banks and State level financialinstitutions is available at every stage of thebusiness, to economically viable and bankableprojects. However curiously most women inbusiness prefer the entrepreneurial communityitself like their counterparts in other businesses, asthe most important support centre in theirentrepreneurial journey.

u CEO, Business Beacon Management Consultants-SME Development and Finance

Currently, Senior Researcher, S P Jain Inst. of Management & Research – Corporate Governance Area.


147 years, 20 sectors and over 23,000 employees.Shapoorji Pallonji continues to grow and strengthen

Subroto Roy Sahara Stadium, PuneConstruction & Precast Design by SP Engineering & Construction

Hotel Trident, New DelhiElectrification by Sterling & Wilson

Waverock, Hyderabad External Facade by SP FAB

Magarpatta Township, PuneWater treatment plant by Eureka Forbes

Nad Al Sheba Racecourse, Dubai lnfrastructure by AFCONS

Corporate Office : SP Centre41/44 Minoo Desai Marg ,Colaba, Mumbai 400 005, IndiaTel +91 22 6749 0000, www.sp-group.co.in


AGM - 201240 WORLD ZARATHUSHTI CHAMBER OF COMMERCE

Road To Entrepreneurial Success

Pheroze P. Kharas

The work ofManagementbegan to be

studied from theearly years of the

two most successfulcompanies in theworld then, FordMotor Company

and GeneralMotors.

Many successful entrepreneurs start theircareers working as a subordinate in anorganisation. In these initial years you are

judged by your ability to manage tasks and deliverreliable results. The methods you follow toaccomplish results also becomes a measure of yourperformance. Your ability to acquire and apply newknowledge, becomes important. You have toobtain results with people who do not report to you,which means developing relationships. These skillsthat you acquire, helps you to become a good leaderand manager.

During the time span of one’s career, it is importantto acquire the knowledge on the work of managingan enterprise. However there is more to success thanacquiring knowledge and entrepreneurial skills ; andthat is “Managing Oneself” , as described in theArticles (published in 1999) by the managementvisionary - the late Peter Drucker. What he says is sorelevant today for the younger generation.

“Throughout history people had little need tomanage their careers – they were born into theirstations in life or, in the recent past they relied ontheir companies to chart their career paths. Todaywe must all learn to manage ourselves.”

He then explains what this means : “we have to learnto develop ourselves. We have to place ourselveswhere we can make the greatest contribution to ourorganisation and the community. And we have tostay mentally alert and engaged during a fifty yearworking life; which means knowing how and whento change the work we do.”

“Today’s successful careers are not planned out inadvance. They develop when people are preparedfor opportunities because they have askedthemselves the right questions such as: - What are my strengths?- What are my values?- How can I keep improving my performance?- Is my contribution providing value to the

organisation?- Where should I be, so I can perform to my

maximum potential?”

The answers to these questions help an individual toassess his unique characteristics and to plan hisfuture. The implications of these questions is clear ;only when you operate from a combination of your

strengths and self knowledge can you achieve trueand lasting excellence.

Every entrepreneur becomes a manager when hehas people reporting to him. That is when he has toget results through and with people. Managementis the work of securing the most effective resultsthrough and with people.

Before I discuss management work I believe that anentrepreneur, either embarking on a new businessventure or already in business must write a Visionand a Mission Statement.

A Vision statement is a perceived uniquecharacteristic or a broad objective to which theorganisation is committed to sustain the growth andprofitability of the enterprise, over the longer term.A Mission statement is a set of commitments thatbest describes what the organisation will do toensure growth and profitability of the enterprise. Italso states the commitment to stake holders, to theenvironment, to the laws and regulations that applyto the business and preferably also to the Society inwhich it operates.

You may well ask about the purpose and value ofthese statements. The answer lies in the “Principle ofthe Objective” which is, that “organisationalefficiency tends to increase as the work performed isdirected towards a stated objective”. It means, thereis no point in deciding what work should be doneand what decisions should be made unless and untilwe have established what end results we are tryingto accomplish. It also follows that when you assignresponsibility and authority it should be directedtowards clearly defined objectives.

The work of Management began to be studied fromthe early years of the two most successfulcompanies in the world then, Ford Motor Companyand General Motors. The thoughts on modernmanagement were initiated by Alfred P. Sloan, headof General Motors, in his book “My Years withGeneral Motors”. Since then the subject ofManagement has been widely explored anddocumented; one major and renowned contributorto management being Peter Drucker and his mostwidely read books titled: “ The Practice ofManagement” and “Managing for Results”.

It was not until 60’s that the management



consultancy firm of Louis Allen Associates classifiedmanagement work logically into four basicFunctions, namely : Planning, Organising, Leading &Controlling and the related Activities. These fourFunctions of management and the twenty Activitiesinvolved are covered in a series of thirteen articles inthe WZCC – Mumbai Chapter Newsletter, fromJanuary 2011 to August 2012, under the title‘Introduction to Management’. All newsletters are onthe WZCC Website : wzcc.net

In this classification the work of each Function andActivity is distinct and unique, yet there is stronginter-relationship, to the extent that no one Activityconducted in isolation, can yield results.

For example :- The effectiveness of a planning system depends

to a large extent on the Control exercised – Measuring, Evaluating and Correcting, performance.

- Objectives cannot be attained unless the right people are Selected, Motivated and Developed.

- A CEO cannot Delegate unless the work for eachposition in an organization is logically arranged(Organisation), the Performance required is specified and the criteria for MeasuringPerformance is defined.

The Annual Planning and Budgeting Process in mostorganizations is a good example, of the work ofManagement.

All key positions in an organisation should have astatement of Responsibility and the OngoingPerformance expected from the work assigned tothat position generally termed “Critical PerformanceArea.’ (CPA).

A CPA is more than just a job description. It is astatement of responsibility and the ongoingperformance standard expected from the workassigned to that position. Each responsibility startswith a Result statement . The following definitionsare relevant to writing an effective CPA.

The key definitions are :Responsibility Work which is a continuing obligationof a position. It is the physical and mental effort aperson is obliged to make to achieve PerformanceStandards in order to fulfil either the requirements orattain Results, expected from the Position.Performance Standards Criteria by which work andresults can be measured and evaluated.Results The outcome of performance. Workpurposefully directed will lead to results.Position l A group of related responsibilities organized forperformance on a continuing basis, by one suitably qualified individual. l A position is a basic

unit in an organization structure.

Why do we need a CPA ?1. A CPA is made to ensure that all critical on-going

work and expected results for a position is defined, understood and accepted by theindividual in that position.

2. A CPA allows one to ensure that there is a logical grouping of work, without ambiguity or overlap or conflict with the work of other positions in the organization.

3. It provides a basis for making a “gap” or “deficiency” analysis and to develop a Specific Objective for either eliminating the deficiency or for making improvements.

4. A CPA allows the individual to delegate work and the authority for decision making, to subordinates by developing their CPA’s, without ambiguity or conflict with others in the same department.

5. A CPA forms the basis for evaluating the performance of an individual, determine counselling or training needs, with the objective of developing the individual for taking greater responsibility and adding value to the Organisation.

An appropriate management system should bedeveloped in an organisation based on the fourmanagement Functions and Activities, because it isa ladder to improvement and results.

If you are planning a business venture, pleaseattempt to qualify by meeting the followingminimum criteria: l Do you have an idea, a product or service, that is of Value to the customer, or will it meet a need hitherto unfulfilled. l Do you have the capability or alternately a person within the Organisation whohas the essential knowledge to produce and sell the product or service. l Do you have the capability tomake a credible project report or business plan toshow the future cash earnings potential andfinancial ratios. l Is there a clear evidence of yourleadership capabilities. l Are you capable ofdeveloping a management system best suited toyour needs, to sustain growth and profitability.

If you can honestly rate yourself on these five criteriaand come up with a positive response, you canassume that the risk involved in starting a newventure, has been significantly reduced. Alternately,you may need to acquire knowledge and skills onmanaging an enterprise.

The AnnualPlanning and

Budgeting Process in most

organizations is agood example, of

the work ofManagement.

u Pheroze P. Kharas is the Chapter Chair for WZCC – Mumbai Chapter.

Professionally, he is the Chairman of Ecoplast Ltd. and Member of Governing Council of Indian Center for Plastics in Environment.

He is past President of The Organisation of Plastics Processors


wzcc agm -2012 souvenir

Documents

pm page

women entrepreneurs

jal shroff

neville shroff

zoroastrian entrepreneurs

global president

global experienceto

resurgence of women