Applying mgmt to life in gens!

This post of mine won’t give you immense insight into my day-to-day life at the Business school but will give you a glimpse into the amazingly awesome education that we receive on the International Health Management course at Imperial College Business School. Here are the top three pieces of wisdom from the modules:

Accounting:

  • The Rule of One: Some things, cannot be reduced below one… deal with it!
  • The Will Sutton Rule: Will Sutton was a bank robber and during his forty-year criminal career he stole an estimated $2 million and eventually spent more than half of his adult life in prison. When asked why he robbed banks by a reporter, he answered, “coz that’s where the money is.” Moral of the story, one should first consider the obvious/deal with the most significant problem!

Will Sutton

  • The Panopticon: This is a building (often a prison) where a watchman can observe the inmates without their being able to tell whether or not they are being watched. This made me think about how one should constantly act as though they were in a panopticon being viewed by themselves… and how we should never do something we will later be ashamed of seeing ourselves do. Where our consciousness and not bars, chains, and locks are required for us to do the right thing.

Panopticon
Marketing:

  • The power of GLOCAL = think global, act local  … apply it anywhere and everywhere!
  • Psychology impacts marketing: Our expectation of a product (and I will extend this to a person, event, relationship, ourselves) influences the experience and product’s (once again, person’s, event’s, relationship’s, ourselves) efficacy. Moral of the story – expect things to go well or be nice, or people to be good, or yourself to be successful… and it will so be.

Smiley

  • Never ask your better half – “Give me 10 reasons you love me!” : I learnt that that age old question is a marketing fail! When we ask someone this, we make them think hard about what it is that makes them love this. This very difficult task, because it is diffucult, makes them feel, “Actually..why DO I love him/her?!?… DO I EVEN LOVE HIM/HER?” .. simply because its so hard to come up with 10 reasons they do!

OBHRM:

  • Always keep in mind the Cialdini’s 6 principles of negotiation – Liking, Reciprocity, Social proof, Consistency, Authority, Scarcity.Simply put (in order from left to right) : People like those who like them; People repay in kind/give what you want to receive; People follow the lead of similar others; When people declare something actively, voluntarily and publicly – they will likely do it!;  People defer to experts; People want more of what they can have less of!”
  • The Milgram experiment showed that people AREN’T intrinsically evil! It is the ‘agentic shift’ and the obedience to authority that sometimes makes us behave in inexplicable ways!
  • “There are as many definitions of leadership as there are people who have attempted to define it.” (Stogdill, 1974)

Strategic Mgmt:

  • “Know the enemy and know yourself, in a hundred battles you will not be in peril.” (Sun Tzu)
  • “Vision is the art of seeing what is invisible to others.” (Jonathan Swift)
  • Business and War are very alike… think about it 🙂

I’m sure these little snippets are a good insight into the powerful teaching and learning that takes place at Imperial.

Finally my closing quote : “There are only 3 colours, 10 digits and 7 notes; its what we do with them that’s important.” (Ruth Ross)

My edit – “There are only 26 alphabets, 3 colours, 10 digits and 7 notes… do as much as you can with them! Especially to make people happy :)”

Till next time… if I make it out alive from these busy couple of weeks!

Avanti

xx

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