Saturday, February 12, 2022

Kaizen: Continuous improvement for students (Sunday Binge Reading: 08)

 

(Photo courtesy:pexels.com)

After World War II, Japan was a total mess. People had to work hard to rebuild the country after widespread devastation. They were setting up businesses again for a fresh start in the new world and were starting to experiment with various concepts while running the businesses to achieve high standards. Japanese people have been practising a technique called Kaizen since immemorable times. In simple words, it means continuous improvement. They put this concept to work, and it worked wonders. 

The concept is simple; you try to improve every day. For example, you have a factory that produces soaps, and you need to increase productivity and profitability in the existing setup. As the manager, you consult with various stakeholders, from the worker to the top management and ask for their suggestions. The suggestions that are worth taking are implemented quickly to optimize productivity. The process is continued until the whole process is fully optimized. A fully optimized factory will ensure the highest levels of productivity with a minimum level of wastage in raw material and loss in man-hours. 

Students can also adopt the Kaizen technique in their day to day life because they have to develop their employability skills. Communication skills & hard skills take time to develop, and one cannot do it overnight. So, one should take it in a piecemeal fashion during the course. Moreover, students have to appear technical rounds in job interviews, for which they have to prepare gradually. Otherwise, people feel low in confidence before any such interview. Sometimes, low confidence spoils an interview. 

Each & every day, we can learn something, and if we continue it for one whole year without stopping, we can do a lot. 

If you like the post consider reading B.Tech Guide Book & Campus Placement Guide book by the author to support the blog.

 

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Shark Tank: A must watch for Entrepreneurs ( Sunday Binge Reading: 09)

 

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At the outset, I would like to say that I do not want to recommend TV shows to anyone. Most of the TV shows are meant for entertainment. These shows are no-brainers. Well, life will be monotonous without these shows. We human love stories and TV shows know well about that. There is a new show that is the talk of the town. It is called ‘Shark Tank’. Initially, the ‘Shark Tank’ show was broadcasted in the USA long back. I might have watched them long ago and forgotten about them. At that time, I was unable to comprehend various financial terms. So, it did not interest me that much. Nowadays, the “Shark Tank” Indian version is being broadcasted on Sony. But, this time, it is somewhat different for me. I have come across various financial terms due to many obligations, and in India, there is a great push for ‘start up’ culture by the Indian Government. A few years ago, people laughed and mocked people who did business. Now, it has become respectable. Young boys and girls want to start something their own. This is a great sign. Many ‘start-ups’ have seen phenomenal success lately. They have become unicorns such as Lenskart, Zerodha, Shaddi.com, Boat, Bharat Pe, Flipkart, Zomato, Swiggy, Ola, etc. We all know these brands and probably, we all have bought their products or services at some point in time.

The journeys of entrepreneurs are not easy. They face a financial crunch all the time. The ‘Shark tank’ show gives them a chance to raise money for their operations. But, I am recommending the show from a different point of view. Those who want to start a business should watch ‘Shark Tank’ because it is a treasure trove of knowledge. You get good concepts on sales revenues, profit before tax, EBITA, competitive advantage, compounded annual growth, the role of patent & copyright, first-mover advantage, business scalability etc. These concepts are complicated to grasp for people like us who are from non-business backgrounds. Above all, one can have an idea about presenting a pitch before an investor. This concept can also be used in personal interviews because career counsellors always tell one to behave as a business of one. We are all business of one offering our service in return for money.

At last, I would like to recommend a book called ‘ Zero to One' by Peter Thiel, who founded Paypal. The seminal book on businesses describes how a successful business is set up. Moreover, it casts light on how a business tries to be a monopoly in a step-by-step way.

 

You can read B.Tech Guidebook & Campus Placement Guidebook: For Engineering Students by the author

 

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Our Popular articles in the blog

1. Behavioral questions (https://authenticmedia2020.blogspot.com/2021/03/understanding-behavioral-questions-in.html)

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Health is wealth for students

   (Photo source:pexels.com)   Nowadays, when I look around, most of the students are either obese or have some kind of health issues. ...