The Written Analysis and Communication course, a case study-based analysis, was an integral part of the MBA syllabus.
While other students would slog through the night to submit the assignment, Kamath used to submit his papers much before the deadline. That's because he was open to trading off an A for an A+ since he could use the time for more critical things.
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K V Kamath's mantra for great success
Image: Pareto Principle.Too many managers are constantly busy doing work that can be done by their juniors, can wait or can be outsourced. In trying to focus equal attention on micro-details of every project, many managers do work that is not commensurate with their designation or salaries. They are, in effect, becoming clerks; worse, they don't allow others in the organisation to think.
K V Kamath's mantra for great success
Image: Pareto principle for success.The most important use of the 80:20 rule is that it defines the core of your job: work that causes problems for the company or the customer if it is not done. Applying the rule helps you know what to let slide when you don't have the time to do it all.
K V Kamath's mantra for great success
Image: Vilfredo Pareto.The Pareto Principle is named after an Italian economist Vilfredo Pareto who observed that 80 per cent of the land in Italy was owned by 20 per cent of the population. Pareto went on to comment that 20 per cent of his garden's pea plants produced 80 per cent of the peas he grew.
K V Kamath's mantra for great success
Image: Joseph Juran.Pareto died much before his principle was widely adopted. That credit goes to people like Joseph Juran who refined Pareto's work to make it usable and popular.
K V Kamath's mantra for great success
Image: Making superstars.But experts say the Pareto principle should be thought through before it is implemented, because overdoing it may create problems.
Some companies have taken the Pareto Principle to extremes by focusing on only the "superstars", forgetting that helping the good become better is also a managerial responsibility, since no company can survive with superstars alone.
K V Kamath's mantra for great success
Image: FMCG cos have learnt the success mantra.Though this worked wonderfully for some time, things changed when the slowdown hit and market dynamics changed. Smaller competitors, which were more nimble-footed and worked with lower overheads, took away share in key regional markets.
K V Kamath's mantra for great success
Image: Hamam soap.Similarly, by blindly focusing on the most profitable customers, companies can often invite a crisis. Don't forget that this segment of customers is also coveted by the competition. By spending too much time and money on them, companies may find themselves vulnerable if some customers switch loyalties suddenly.
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