Sushil Choraria
Terapanth Professional Forum Kolkata
Professionalism In Family Business
Report On 1st East Zone Annual Conference Of Terapanth Professional Forum (TPF) Hosted By Kolkata Branch On 20th November 2011 At Fort Lee-1, 20 Lee Road, Kolkata-700020.
The 1st East Zone Annual Conference of Terapanth Professional Forum (TPF) was held on Sunday, 20th November 2011 from 9:30AM to 3:30PM at Fort Lee-1, 20 Lee Road, Kolkata-700020. The conference was organised and hosted by Kolkata Branch of TPF on the occasion of completion of its 1st year. More than 100 participants from Greater Kolkata, Raipur, Guwahati, Siliguri and Bokaro participated in the Conference. The theme of the conference was “Professionalism in Family Business” and was held in the pious presence of SadhviShri KanakShree Ji, learned disciple of H.H. Acharyashri Mahashraman Ji and a member of Bahushrut Parishad.
INAUGURAL SESSION
The Inaugural session began at 9:30AM with blessed recital of Namaskar Mahamantra by learned SadhviShri KanakShree ji. This session was a joint session in presence of Conference participants and other general members of our Terapanth Samaj.
The Session anchor Shri Sushil Jain (Choraria), National Jt. Secretary of TPF invited host Kolkata Branch President, TPF National President, TPF Vice President (East Zone), Guest of Honour and Eminent Speakers of the Conference to the dais.
Setting the tone of Conference, TPF Sangh Gaan was beautifully sung by Shri Rakesh Singhi and Shri Rakesh Sancheti.
Conference Kit was then presented to learned Sadhvishri Ji by Raipur Branch President, Shri Surendra Choraria.
Shri Prakash Baid, TPF Vice President (East), in his address urged all Terapanthi Professionals to join TPF and thus take ahead various services to Dharma Sangha. He also invited all the members of Terapanth Society present there to participate in the Annual Conference.
Shri Narendra Kumar Shyamuskha, TPF National President, in his crisp address, expressed gratefulness towards Acharya Shri Mahapragya Ji and Acharya Shri Mahashraman Ji for their farsightedness and wisdom, the result of which is TPF. He reaffirmed that TPF shall do every bit of its job to unite Terapanthi Professionals under one banner as ‘united we shine’.
Shri Prakash Chand Maloo, President, Kolkata Branch welcomed guests and other participants to the full day conference. Through a video clipping, he presented the inspiring words of Acharya Shri Mahashraman Ji about TPF. He then briefed the house about the objectives of this Forum and made presentation with snap shots of past activities and future plans of TPF Kolkata Branch. He also requested all the general members of the Terapanth samaj present there to encourage professional members of their family to join hands with TPF.
An important project of TPF, “Terapanth Commerce Study Centre” was also auspiciously launched during the session and Brochure & Application Forms were presented to Learned Sadhvishree Kanakshree Ji. Convener of Terapanth Study Centre, Shri Dharam Chand Dharewa, briefly informed the gathering about the project. and appealed all the sections of Terapanth Samaj to join hands with TPF in this benevolent task in every possible manner.
The session was also addressed by Raipur Branch President Shri Surendra Choraria. He briefed about the activities of Raipur Branch and thanked Kolkata Branch for organizing the conference. Shri Navaratan Mal Surana, eminent Tax Consultant and a member of TPF also put forward his thoughts before the gathering and urged for getting young generation involved with TPF and render services to Dharma Sangha.
Terapanth Literatures were also presented to Guest of Honour and eminent speakers of the conference as a memento of thanks to them for their cooperation and participation.
Sadhvi Madhulata Ji, in her address encouraged members of TPF to utilize their intellectual powers in service to Dharma Sangha. She advised professionals to dis-associate from any such activity that is against the ethics and principles of great Terapanth Dharma Sangha.
Learned Sadhvi Kanakshree Ji in her blessed address gave stress on peaceful and harmonious family relations. Through her excellent deliberation, she emphasized that when there is Peace and Harmony in the Family, when there is no place of personal Ego and when there is respect for elders and love to youngsters, then Prosperity and Success always reside in that family. A Happy family is the strong foundation of a successful family business.
Guest of honour Shri Sampat Mal Bachhawat also spoke about the Conference and thanked TPF Kolkata for organizing this conference at Fort Lee compound.The Inaugural Session was effectively anchored by Shri Sushil Jain (Choraria) and at the end of the Session, Vote of Thanks was presented by Shri Vikram Chandalia, Secretary Kolkata Branch.
TECHNICAL SESSION
The 2nd Session, which was of technical in nature, began at 12:00 noon. Convener of the Conference Shri Prem Kumar Bafana,Vice President of Kolkata Branch anchored the session. He welcomed participants to the second session and placed the brief introduction of learned speakers of Technical Session, Dr. Raj Sethia, a senior consultant with World Bank, Washington D.C and Shri Pradip Chopra, Chairman ILead and PS Group.
Dr. Raj Sethia in his inspiring presentation; informed that the family members have different degree and level of involvement in the business. Categorization of their role is essential in understanding their impact on business decisions and thus formulating less conflicting business policies. Deliberating on the reasons of family business fallout, he detailed on few of the very critical reasons. Some of these are:
- Family feuding
- Nepotism
- Letting Emotions run the business
- Loosing Non Family employees
- No Succession Planning
- Absence of Professional Approach
- Absence of Clear line of Communication
- Rewards based on relations rather than competency
- Lack of Clear Vision
He suggested that a professional approach to business situations is very much essential in which even the external professional can play a decisive role. He stressed that role and responsibilities of each and every family member involved in the business should be clearly defined and outlined. Furthermore they should be held accountable for their actions just like an outside professional involved in the business. He also suggested few good books on the subject by eminent authors like Nancy Bowman Upton, Edward D. Hess, John L Ward, Amy Schuman and Stacy Stutz.
The Second deliberation of the session was by Shri Pradip Chopra, Chairman iLead and PS Group. He enlightened the house with the results of a study done by Harvard Business School on Secrets of Entrepreneurial Leadership. The study revealed the facts that it’s not always the Intelligence or hard work or good education or family background that leads to wealth creation and successful business. The most essential trait is the “Spirit of Enterprise”. Shri Pradip Chopra detailed on the Spirit of Enterprise that it’s not only about working best for the organization with lot of Zeal but it’s also about working for others. Ethics and Values are very much part of the Spirit. One may not have professional qualification but if he or she is steadfast on his values, then success is bound to follow that person. Many business tycoons including Mr. G.D. Birla, Mr. Narayan Murthy, Mr. L.N. Mittal, Mr. Azim Premji and Mrt. Naresh Goyal raised their business empire on these principles alone.
Shri Chopra also elaborated that an important aspect of the leadership is People Management. He showed that one doesn’t need necessarily to be technical expert in his line of business. If one is good enough in handling and managing people well and is able to align their personal goals with that of the Enterprise goals; then one can create a long running successful business. This evenly applies to Family Businesses.
With reference to Family Business, he stressed that due importance should also be given to views of experienced members of the family. Many a times many professional approach have failed, and then the experience of older generation has shown the right path. Intuition based decision making is not always averse and should be given a thought every time a critical decision is made.
The Technical session was full knowledge enhancing and interactive. Experienced as well as upcoming professionals raised their queries to the learned speakers. Shri Narendra Kumar Shyamsukha, TPF National President, also expressed his views on the subject. At the end of the Technical Session, Vote of Thanks to both the speakers was given by Shri Shanti lal Dugar, convener of the conference.
INTERACTIVE AND CONCLUDING SESSION
Speaker of the post lunch Interactive session was Shri Sanjay Kumar Jain, Managing Director of TT Ltd and a guest Faculty with IIM-C and ISB-Hyderabad. He is also a member of TPF Kolkata Executive Committee. After a brief round of Self Introduction by all the participants, Shri Vikram Chandalia, Secretary, TPF Kolkata Branch introduced Shri Sanjay Jain to the participants. Shri Sanjay Jain then enthralled the participants with his presentation in simple language and day to day life examples. He carved out a middle path of decision making where both professional calculations and Intuition play equal role.
According to him, “What Professionalism is all about?” is the first question one must answer before bringing any change in Family business module. He stressed that Professionalism is an attitude which defines your way of working. It has got its Pros and Cons which must be understood and judged clearly in one’s own business environment.
PROS:
- Skill gaps can be better covered
- Provides longevity
- Business is driven more by systems & processes than individuals
- Objectivity of decisions increases
- Improves efficiency as there is effort-reward relationship
- Customer satisfaction is higher
- Easier to attract better talent
CONS:
- Loyalty and integrity is lower
- Risk taking ability is reduced
- Passion & motivation levels lower
- Initial costs are higher
- May disturb family harmony
Roadmap to Professionalism has to be taken care of seriously as it lays the foundation of either success or failure. Shri Sanjay Jain, reminded that one must take care of the following:
- Understand the long term vision of the company - strategic planning
- Need to assess the skill / knowledge /process gaps
- Understand the reasons for such gaps
- List down the people/systems needed to fill the gaps
- Draw out a plan to achieve it
- Tap on external advise where needed
- Draw out a family strategic plan
He also advised that while considering for any changes towards Professionalism, following points can also be considered:
- Constitute an advisory board of experts
- Hire the right consultants for different areas
- Pick up highly talented people and nurture them to grow with the company
- Provide requisite training to family members
- Japanese adopt “high performing executives” into the family
With simple illustrations, he also stressed that Jain Principles also have a profound importance in Management Theories. A person following Five Mahavratas according to his best suitable capacity creates goodwill for himself and his business. Preksha Dhyaan and Jivan Vigyyan keeps a person healthy and mentally fit, so that he/she can take decisions easily even the tricky ones. These practices also help in taking emotion free decisions in the Family business.
Shri Rajesh Jain, eminent Family Business consultant and author of an enlightening title was also present in the session. In his brief address, he also supported Shi Sanjay Jain that ultimately, Jain Principles and Ethics play a vital role in Family dispute resolution and also ensuring business success. He thanked TPF for selecting such an apt topic as conference theme with wonderful team of speakers.
National President Shri Narendra Kumar Shyamsukha, in his concluding address thanked all the speakers, participants, TPF Kolkata Team and the Bacchawat family for making this Conference a success. Shri Narendra Bacchawat, on behalf of Fort Lee family, thanked TPF-Kolkata for choosing Fort Lee as the venue for 1st East Zone Annual Conference. He also thanked all the participants for their active paricipationt in the conference
At the closing stage of the conference, participants offered Samuhik Vandana to learned Sadhvishri Ji Kanakshreeji. Shri Prakash Chand Maloo, President, TPF Kolkata expressed gratefulness to Sadhvishri for her inspiration in organizing the Conference and her valued time in making the conference a success. Learned Sadhvisriji was pleased to see a large no. of participants and blessed TPF for its active role in uniting members of Terapanth Dharma Sangha specially the young generation.
TPF Kolkata is thankful to Shri Narendra Kumar Shyamsukha, TPF National President; Shri Prakash Baid, TPF Vice President (East) and Shri Sushil Jain (Choraria), TPF National Jt. Secretary for their guidance and support in organizing this Conference. Thanks are also due to TPF Raipur president Shri Surendra Choraria and participants from Guwahati, Siliguri and Bokaro. Conveners of the Conference Shri Prem Kumar Bafana & Shri Shanti Lal Dugar, Shri Rajesh Ghorawat (Jt. Secretary-Kolkata Branch), Shri Dharam Chand Dharewa, Shri Indraj Mal Nahata,(Treasurer) Shri Nitin Banthia, Shri Rajesh Bhutoria, Shri Raj Kr. Kothari, Ms. Harsha Kothari and Shri Prateek Maloo had active role in organizing the event. All the participants thanked TPF-Kolkata for organizing this conference and showed their interest in future activities of TPF.