12/10/11
So what do Steve Jobs, Bob Dylan and Warren Buffet have in common. For one they are successful American Icons. More importantly, each of them have been advocates of change – through their work, words and worth (wealth) respectively. The biggest tribute paid to the late Steve Jobs was how he had changed people’s lives.
Even though nothing in the world remains constant but change, it is usually resisted. This is explained by “homeostasis” a condition, which states that every human being is genetically programmed to resist change and maintain a state of equilibrium. Change challenges comfort, creativity and loyalty. It is a result of boredom, innovation, competitive pressure, failings but works best when it stems from a desire to keep evolving. Its need ,once recognized and worked upon,will invariably result in your being recognised. Yes, it takes a while to grow on you but inevitably helps you grow. Change makes you change from accept to expect and that’s the challenge. Success more often than not comes to those who are adept at adapting and adopting change.
Change is referred to as the “in” thing. Facilitated by “in”novation and “in”formation technology the proponents say it is “in”escapable. Those “in” opposition argue it creates “in”discipline and “in”consistancy, is “in”sensitive and very often “in”effective. Whatever you might say change is “in”evitable. However don’t push it! Reason should precede change and not the other way round. Better to forsake change then just change for the sake of change. Then, there is an argument that when everybody is changing, your remaining constant also means you change vis-a-vis others. Terms like “life comes a full circle”, “old is gold” often render change as pointless. But that’s missing the point. Life is a circle and your starting and ending point may be the same but when you end, it is change that has enriched you. Also, if the value of gold didn’t change and reflect inflation and demand it would be pretty worthless if left to the old.
The biggest catalyst for economic change has been globalization. A superbly managed seminar conducted by Aegon, one of the world’s most respected insurance companies in the capital last week showcased four principles to manage change — courage, conviction, commitment and consistency. The customer and employee being the yardstick, who comes first was the debate A strong view emerged that in today’s world of attrition and talent shortage keeping the employee happy would inevitably mean keeping your customer happy. Oxymoronic as it may sound you need to be consistent in making changes. That the management chose India as the venue to infuse a change in mindset and strategy ,is hardly surprising given the “in”built “In”dian ability to innovate,adapt and find a way even when none exists. Also, remarkable was to note the way the Indian management had inculcated the Aegon values of trust, security and loyalty and successfully challenged a very nascent turbulent and aggressive Indian insurance market with controlled, inspired and passionate leadership resulting in creditable growth. In many ways change and insurance go in hand in hand. Both work to mitigate long term risk. Working on the present to secure a better future both call for regular engagement, trust and understanding. Innovation, creativity and technology have been the answer to manage change. They are have now become the tools to manage the insurance business.
Two decades ago two words made a huge impact in the world of advertising and consumerism. “Its different”, a slogan for a brand of ketchup from the Nestle stable captured the essence of product differentiation – the most obvious marketing tool to push change. Change means doing different things, but also doing things differently. This applies to the current state of our industry and governance. The reforms have allowed free competition, more opportunities, access to money and shifted us from a seller’s market to buyers market. Industry has responded by focusing on the customer’s needs. Similarly governance requires to change their old ways of arrogance, stereotypes, divisive politics and corruption, else people will ensure that they get a change in the next round of voting. Elections in Bihar and Bengal and the Anna Hazare movement have told them so. Like industry they need to respond by focusing on the citizen’s needs. And stop the blame game and start by looking at the mirror, for a change.
feedback to chetansharma1@gmail.com