Tool Kit | wealthymatters

Recruiting Via Social Media

October 20, 2014 Leave a comment

Companies are increasingly using sites like Twitter and Facebook to recruit the right candidates. Uber Cabs and Twitter India are hiring. But unless you follow the right people on Twitter or are on their mailing list, you’ll never know about it. These companies aren’t putting out advertisements on their websites or using traditional recruitment companies to find them the best candidates; but have been sending out mailers and tweets to customers or followers. Read more of this post

Filed under Entrepreneurship, Tool Kit Tagged with BranchOut, Facebook, Google, LinkedIn, postaday, Twitter, using social media to hire, using social media to job hunt

The Tata Way

October 20, 2014 Leave a comment

Have you ever wondered what makes a business last many generations? If so, the Tatas can teach you some things.Tata began operating as a trading firm in 1868.Today,the business consists of round a 100 professionally managed companies. Read the essay below by Ratan Tata to get an idea of the attitude that builds multi-generational businesses:

“I believe it’s really important to have companies survive over the longer term. I hate to see major corporations disappearing from the scene because someone has cashed out, because the managers have been unable to escape their comfort zones, or because boards have not been sufficiently nimble to change with the times. When these things happen, decades of effort and innovation go to waste. It’s bad when businesses don’t fight it out, whether the enemy is a competitor’s new product, an industry-transforming innovation (such as transistors), or the impact of something clearly outside a company’s control (like climate change). Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with good values, innovation, multi-generatioal business, postaday, Question the unquestioned, Ratan Tata, Tata

Don’t Underestimate The Power Of Enduring Companies

October 20, 2014 Leave a comment

Here is an excellent essay by Marcus Wallenberg,chairman of SEB (Skandinaviska Enskilda Banken),founded by his great-great-grandfather in 1856. He also serves as the chairman of Saab and Electrolux and sits on the boards of directors for Investor AB and AstraZeneca, among others.

Joseph Schumpeter focused his attention largely on new businesses and their role in eating the breakfast of established companies. But in my view, “intrapreneurs”—risk takers on the inside—are just as important as entrepreneurs in promoting new ideas and new technology.

One Swedish company that supports this point is Atlas Copco, an engineering business that has been in our family’s portfolio since 1873 and is still one of the leading global players in pneumatic machinery and mining equipment. I remember my grandfather, when he was chairman, citing it as an example of a business that had been able to reinvent itself over and over again. In the early days, for example, Atlas sold materials for railroad construction, but that activity was hit hard by the recession of the 1870s. Fortunately, other innovations came through, notably in pneumatics, while the company later was nimble enough to acquire patents from Rudolf Diesel to make diesel engines.

Oil Economics

October 18, 2014 Leave a comment

So how will falling crude oil prices benefit India? The slide in crude oil prices to four-year lows is a huge positive for India as the country depends on imports for more than three fourths of its consumption. It is expected to help improve pivotal macroeconomic indicators such as current account and fiscal deficit besides giving a fillip to energy firms, tyre makers and consumer companies.

India’s net imports of crude oil amount to about a billion barrels every year. So, if crude oil prices average about $100 per barrel in the current fiscal (vs about $106 per barrel in the first six months of the financial year), the country’s import bill will fall by $10 billion (about Rs61,000 crore), which is close to one-third of the current account deficit or CAD in 2013-14. Analysts say that if crude oil averages at $100 per barrel this fiscal, India’s CAD will reduce to 1.3% of GDP from 1.7% in the previous year. Read more of this post