DEC. 8, 2002
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Two Slab
Income Tax

The Kelkar panel, constituted to reform India's direct taxes, has reopened the tax debate-and at the individual level as well. Should we simplify the thicket of codifications that pass as tax laws? And why should tax calculations be so complicated as to necessitate tax lawyers? Should we move to a two-slab system? A report.


Dying Differentiation
This festive season has seen discount upon discount. Prices that seemed too low to go any lower have fallen further. Brands that prided themselves in price consistency (among the consistent values that constitute a brand) have abandoned their resistance. Whatever happened to good old brand differentiation?

More Net Specials
Business Today,  November 24, 2002
 
 
Help, Tarun!!!


I am a 35-year-old consultant with an IIT-IIM background. I was recently laid off as part of a restructuring exercise by the company I was working for. The company chose to retain only those consultants who had exposure to the infotech industry. I lost out because my area of expertise is supply and distribution. I have been knocking at the doors of several consulting firms for the past three months, but to no avail. I have also approached various FMCG companies where supply and distribution are key processes. That too hasn't worked. Do you think I need to re-skill myself? What are my chances of finding a job in the Gulf? How does one get to know of good opportunities there?

Recruiter's Diary
Senior Exec's Guide To Cross-Functional Shifts

In an industrial downturn, consultants can be at a premium or at a discount depending on their specific skill-sets. If the consulting opportunities corresponding to your skill-sets are not forthcoming, you could try for an operational job in another industry sector that requires supply and distribution expertise, which, with your experience, should be less difficult to find. The probability of your finding a consulting job in the Gulf is not very high. Re-skilling, particularly in the BPO area, is worth pursuing.

I am a 30-year-old commerce graduate with 10 years' experience in the service industry at a junior management position. My career has grown very little in the past five years. Should I go in for one of the online business management courses. How good are these courses and what is their weightage in the job market? Would such a course give a boost to my career?

I do not know what exactly you mean by service industry; you could be in financial accounting, billing, stockbroking, banking or infotech. But you will benefit from an added qualification, no matter what area you are currently employed in. Your choice of the course must depend on the function you want to perform in the long term. A diploma from the Institute of Cost and Works Accountants of India would be a big help in most of the areas mentioned above, except infotech. If you want to specialise in stockbroking, you could enroll in one of the courses the Institute of Chartered Financial Analysts of India offers.

I am a 31-year-old finance professional working with a multinational bank in Singapore for the past two years. I am a MBA from IIM. Till date, I have been a good performer and have given no reason for complaint to my employers. However, due to a global realignment, the bank is now downsizing its operations in the region. I have received hints that my entire department might be disbanded. There is not much hope of my finding another job in Singapore at such a short notice. What chances do you think I have in India? I have been trying to get in touch with the people I know in India, but things don't seem very bright there. I have around a decade of solid experience in credit and corporate finance. How can I find a suitable job in India?

You should research the kind of companies in the banking and financial services sector that you would like to work with in India, and target them in a focused manner. There are also a lot of search consultants in India whom you could approach for professional assistance in your job search. Banking and financial services are passing through a difficult phase in India at the moment. You may have to wait a while till a good opportunity comes along. You could also try asking the bank you are currently employed in to transfer you to its India operations.

I am a 25-year-old service representative working for an Indian pharmaceutical company. I am contemplating doing a MBA and am confused over whether I should go in for a part-time or a full-time programme. If I do a full-time MBA, will my experience of one year in the area of sales count at the time of placement?

A full-time MBA course is more likely to stand you in good stead in the long run. Not only will it give you a better grounding in business administration, it will have greater market value as well. Your pre-MBA experience in sales will count during your placement, though a lot would depend on the kind of position you apply for as well as who your interviewer is. Ultimately, if you succeed in obtaining a MBA from a reputed institution, and are focused and hardworking, you will be successful in finding a good job even without having to leverage your previous work experience.


Answers to your career concerns are contributed by Tarun Sheth (Senior Consultant) and Shilpa Sheth (Managing Partner) of HR firm, Shilputsi Consultants. Write to Help,Tarun! c/o Business Today, Videocon Tower, Fifth Floor, E-1, Jhandewalan Extn., New Delhi-110055.


Recruiter's Diary

Atul Vohra, Partner, Heidrick & Struggles

he higher you rise in corporate hierarchy, the greater the level of risk associated with any drastic career move. Yet resume-building for those who want to reach the CEO's hot seat is not for the faint-hearted. In the next of our ongoing series that presents a headhunter's perspective on issues that need to be kept in mind while making career moves at the top, Atul Vohra, Partner, Heidrick & Struggles, discusses how a cross-functional shift can make or break a senior executive's career.

The ability to cross functional lines is now perceived to be an essential element of career success. In fact, many of today's leading executives have broad-based functional backgrounds. However, when contemplating such a move, it is wise to understand the costs and benefits involved.

There are many examples of executives who have made successful cross-functional moves in the recent times. I know of a chief financial officer of a large infotech hardware company, who, after having worked in its finance division for a number of years, moved to an operations role. His success in the operations role (in a highly people and operations oriented industry) within the organisation catapulted him to the slot of the chief executive in less than two years.

There are also several instances where such cross-functional moves haven't worked in favour of the concerned execs. This was the case with the human resources manager of an FMCG company, who switched to a sales function in the same organisation. Despite making a lot of headway in his assignments, he found his decisions constantly coming under question due to a lack of credibility among his peers. He also did not find the operations-led sales role very exciting and, therefore, chose to move back to hr (albeit in another company)

Crossing functional lines is now an accepted component of modern-day corporate staffing strategy. New technologies have re-modelled traditional operational methods. These changes have not only led to a relaxation of corporate hierarchies, they have also blurred the divisions between many executive functions. This trend spells more opportunities for those executives who regard cross-functional moves as the high road to the CEO's corner room.

However, despite the challenges it poses, today, cross-functional adaptability not only provides the basis for enhanced corporate productivity, but also for the success of an individual executive's career. All things said, you and you alone are your own best manager.


Senior Exec's Guide To Cross-Functional Shifts
Some things you would do well to keep in mind while considering a cross-functional move.

Timing: Cross-functional expertise should be gathered as early as possible in one's career. Opportunities become less as you rise up the corporate ladder.

Relevance: Consider a cross-functional move in relation to the organisation's core function- i.e., those functions that define the company and its mission.

Situation: Assess the situation within the functional area to which you plan to move. Ask yourself whether it offers genuine potential for career growth.

Organisational philosophy: Some organisations promote direct competition among managers in the same function. In such a case, you need to closely assess how the company reacts to failure.

Self-assessment: This is a good opportunity for some thorough introspection. Ask yourself: What are your knowledge gaps and how will you fill them? What is your capacity for continuous learning? What is your appetite for risk? How will your move assist you in fulfiling your ultimate career objectives?

 

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