Showing posts with label people. Show all posts
Showing posts with label people. Show all posts

Tuesday, April 22, 2008

leaders should manage failure by Abdul Kalam



This is a very inspiring interview given by former president of India.Its worth reading,specially for those leaders who blame others on failure. This was the answer given by Abdul Kalam when the interviewer asked him about leadership.



India Knowledge@Wharton: Could you give an example, from your own experience, of how leaders should manage failure?

Kalam: Let me tell you about my experience. In 1973 I became the project director of India's satellite launch vehicle program, commonly called the SLV-3. Our goal was to put India's "Rohini" satellite into orbit by 1980. I was given funds and human resources -- but was told clearly that by 1980 we had to launch the satellite into space. Thousands of people worked together in scientific and technical teams towards that goal.

By 1979 -- I think the month was August -- we thought we were ready. As the project director, I went to the control center for the launch. At four minutes before the satellite launch, the computer began to go through the checklist of items that needed to be checked. One minute later, the computer program put the launch on hold; the display showed that some control components were not in order. My experts -- I had four or five of them with me -- told me not to worry; they had done their calculations and there was enough reserve fuel. So I bypassed the computer, switched to manual mode, and launched the rocket. In the first stage, everything worked fine. In the second stage, a problem developed. Instead of the satellite going into orbit, the whole rocket system plunged into the Bay of Bengal. It was a big failure.

That day, the chairman of the Indian Space Research Organization, Prof. Satish Dhawan, had called a press conference. The launch was at 7:00 am, and the press conference -- where journalists from around the world were present -- was at 7:45 am at ISRO's satellite launch range in Sriharikota [in Andhra Pradesh in southern India]. Prof. Dhawan, the leader of the organization, conducted the press conference himself. He took responsibility for the failure -- he said that the team had worked very hard, but that it needed more technological support. He assured the media that in another year, the team would definitely succeed. Now, I was the project director, and it was my failure, but instead, he took responsibility for the failure as chairman of the organization.

The next year, in July 1980, we tried again to launch the satellite -- and this time we succeeded. The whole nation was jubilant. Again, there was a press conference. Prof. Dhawan called me aside and told me, "You conduct the press conference today."

I learned a very important lesson that day. When failure occurred, the leader of the organization owned that failure. When success came, he gave it to his team. The best management lesson I have learned did not come to me from reading a book; it came from that experience.

read the whole interview of Abdul Kalam



Monday, March 24, 2008

Warren Buffett




Think about a person without a cell phone or a computer, can he be the richest person in this world? Well Warren Buffett proved that he could. He still lives in his three bedroom house bought 50 years ago which he claims to have everything he needs, drives his car himself to office and travels in commercial planes (he owns the largest Air Line company). He firmly believes that people should not spend money for unnecessary things. At the age of 6, he bought 6 coca cola packs from his grandma’s shop for 25 cents and resold them for nickel to gain 5 cents profit. Five years later he invested some money in stock market which taught him his first lesson of investments. Since then, his voyage to become the richest man on earth was unstoppable.Recently he gifted 31 billion to charity, biggest gift ever to be given. The most beautiful thing about this man is not his simplicity but his generousness. He has planned to give away 85% of his wealth for those who need it more through Bill & Melinda Gates Foundation. Its not his money that made me write this article, its his beautiful heart. There are angels among us, he's one of them. Some interesting facts about Warren Buffet.