Challenges are Boom not a Curse

Dr. ANIL KUMAR DHAGAT

Professor & Director
Department of MBA
Gyan Ganga Institute of technology and sciences
JABALPUR
Email: akdjbp@rediffmail.com
Email: dhagatanil26@gmail.com
Mobil No. 9826115563
 Some Facts
• India is the Fifth largest Life Insurance market in the
emerging economies globally and growing at 32% -
34% annually.
• Liberalization, New players, New products, and
Consumers awareness, Media growth, Product
Promotion strategies, Consumers education, and
Information technology are basic responsible factors
for the boom.
• Saturation of Insurance market in many developed
economies has made the Indian market more
attractive for international insurance players .
• Some Research findings :
1 Total Life insurance premium in India is
projected to grow Rs. 1230,000 crore by 2011-
12.
2 A booming life insurance market has propelled
the Indian life insurance agents into the’ top
10 country list’in terms of membership to the
Million Dollar Round Table (MDRT)- an
exclusive club for the higest performing life
insurance agents.
• 3 Six of total 23 private life insurance companies
in India have reported a positive growth in April
2011( Date released by IRDA)
• 4 New business premium income of private
insurance players in April 2011 fell by 11.89%on
year to Rs. 50.63 crores from 57.46 crore in the
same month a year ago as premium collections
from individual customers declined.
• An increasing share of private sector insurance
companies is quite motivational for LIC to look
forward additional business by adopting
strategic approaches in sales and marketing.
 NANDAN NILEKANI
(A meeting that changed his life)
• “ What was Infosys? It was an Idea .
• What do we owe our success to?
• To ideas, not to labour and machinery.”

• In 1980,s he was with Patni Associates in Nariman

Point .
• Drawing a salary of Rs 1200 p.m.. The last salary that
his father drawn before his retirement.
• An IIT,n from IIT Mumbai never initially thought to
work across the border and joined Patni Associates.
 Meeting with Naryan Murti
• 1977He was rigorously interviewed by Naryan
Murti at the time of selection in Patni
Associates where Naryan was heading .
• Learned from Narayan Murti collective
decision making, Team building,
• 1981 Fed up of working for Bania bosses,and
decided to leave along with Naryan Murti and
other five.
• Created INFOSYS
 What made Nandan successful
• J
• A closely watching guy in the institute.
• Never off always on .
• He use to say himself every morning “ I must
be less zipped up.”
• Willing to be more engaged then in rest.
• He is more passionately about things he do.
• He is more demonstrative.
• He says I am only a good organizer .
• Always kept entire team optimistic even in bad days
due to Murti.s personality and personal conviction that
company would make it.
• Turn over in 1991 was Rs. 5.5 crore reached to Rs.509
crore in 1999
• His minimum salary in the initial days of the company
was Rs. 20,000 p.m. and Rs. 32000 p.m. of Murti.
• Today his personal assets are more than Rs. 3000
crore, His wife receives Rs. 66 crore as dividend.
• He is serious towards social responsibility and has
offered many no cost projects to local self
governments for good governance.
• He popular again due to his expression in the book “
The World is Flat” Sharing his views with the world
• Stoty No 1 : Two business man One Japanese and another American went
to spend holidays in the jungle of Nigeria.
• Japanese saw the Bear,
• He immediately took out his leather shoes and wore sports shoes .
• American saw the Bear and laughed at Japanese and asked can you out
run the bear?
• “Who is going to out run the Bear ? I am getting ready to out run you my
friend”

• Moral:Your Strategy must be in consonance with the

prevailing circumstances . You must understand
your context and then develop a strategy to
manage
 STORY NO. 2:- THE GORDIAN KNOT
• Gordius was a poor countryman. Once he was going somewhere with his family in a
wagon. In the kingdom of Phrygia . Country man were told by oracle that their king
would come in a wagon. The important citizens weere deliberating the issue on a
public square. When they saw Gordius coming in a wagon with his family they made
him their king.
• After Gordius was made king , he dedicated his wagon to the deity of the oracle and
tied it up in its place with a fast knot. The knot was very complicated . No one was able
to untie it. It was said that whosoever would untie it would become the king of Asia.
• Many tried and failed . Once Alexander the Great visited phrygia .
• He tried all his best but failed to untie it.
• Finally , he drew his sword and cut the knot .
• Moral: A solution needs imitative and creativity,
It need not to be based on established norms
and practices. You need not to follow a routine
method to solve complicated problems. Old
solutions would not fit new problems.
 STORY No. 4: The Fourth Monkey
• Once Mulla Nasruddin went to a Political leader house along with a friend.
In the house a statu of three monkeys was kept, symbolizing “ Dont tell
Bad, things , and don’t see bad things and don’t hear bad things .
• Some how Nnasruddin,s friend was impressed with the statue because it
revealed an important truth of life .
• He shared with mulla who in turn replied back “ This three monkey
business is okay.
• “ However they will fail if the fourth monkey is not there.”
• The friend was bit surprised to hear his remarks and inquired about his
notion of the fourth monkey. He replied cryptically,
• Oh the fourth monkey is – “Don’t think Bad”
• Moral: “ Thinking is the source of action and
feeling. . If you don’t change you thinking, you cant
change your actions and feelings.
 Story No 5 : The Haven and The Hell
• A gentle