New Lingo Learned @ FFE 2013
Yesterday, I had the privilege of
attending FFE 2013 organized by Medicin Man
It was a day of wonderful Learning
and Networking.
Rubbing shoulders with Who is Who of
the Indian Pharma is exhilarating.
Learning from Leaders and CEOs who rose from the ranks of MRs is indeed an experience to cherish!
Here is the Neo Lingo I learned...
Online Survey or Quiz - Absolutely Free and No Limitations: Google Forms
Want an Opinion Poll? Wish to conduct a Survey? Planning a Quiz after a training programme?
Think Google.
Take a tour...
Think Google.
Free online quiz or survey is made easy with Google Docs. You can use Forms to create an online quiz. It's easy and very intuitive.
You can create questions with various answer options like
You can create questions with various answer options like- Text
- Paragraph
- Multiple choice
- Checkboxes
- Choose from a List
- Scale and
- Grid
Google provides many themes to garnish your quiz.
The created Quiz/Survey can be sent by integrating with the mail. Moreover, you can collect and analyze the responses in real-time.
The data gets loaded into Google Spreadsheet thus making analysis of data easy!
You can download data into spreadsheets on your desktop.
The created Quiz/Survey can be sent by integrating with the mail. Moreover, you can collect and analyze the responses in real-time.
The data gets loaded into Google Spreadsheet thus making analysis of data easy!
You can download data into spreadsheets on your desktop.
A pre-formatted summary is also available for a quick look.
Next time when you plan for an Online Quiz,
Rely on Google Docs.
You can even embed the form into your website.
Rely on Google Docs.
You can even embed the form into your website.
Alternatives are
Survey Monkey and
Survey Gizmo.
Most of the basic features are free but you may find few limitations.
Google Docs is limitation free :-)
Survey Monkey and
Survey Gizmo.
Most of the basic features are free but you may find few limitations.
Google Docs is limitation free :-)
It's simple, easy and free.
In case you need help Refer to Google forms.
Here is the link: Google forms-Help
In case you need help Refer to Google forms.
Here is the link: Google forms-Help
Take a tour...
Mean,Median and Mode - When and Where?
If you know only 'Average' and do not know much about the words 'Mean', 'Median' and 'Mode’, you
are lucky!! Those who know, always get confused about When to use it? Which measure
to use? However, clarity helps understand things better.
Let us take the classical example of average income in two localities in Mumbai and try to understand these....
Locality 1, say Mulund where multi-storied flats co-exist with
slums around it.
Locality 2, say South Mumbai where only Multi-storied flats exist
and no slums.
Mean a.k.a Average
Mean a.k.a Average
When
to use Mean? Mean is also called Average.
You
average out when things are similar or symmetrical. Isn’t it?
So,
in the above-mentioned localities where do you use mean?
Obviously,
in a locality where you find similarity in the population.
i.e.
Locality 2 – only multi-storied flats.
Mean
is the best measure when the distribution is not skewed.
This means, when symmetry exists use Mean.
This means, when symmetry exists use Mean.
Median
Median
is the best choice in locality 1 because the distribution is skewed.
(High Income
of the people residing in flats and presumably low income in people residing in
slums).
Few
People who have disproportionately high income and few with very low income
(these are called Outliers) can completely skew and distort the picture.
So
, the moral of the story is next time when you are offered a job ask for the
median salary of the post rather than the average salary for the post offered!
Mode
Mode
is most recurring or most often seen.
Mode
is the least used measure of central tendency.
Often
you find it is not very meaningful.
Lets
take the example: The salaries in an office with 6 people are as follows.
Rs.10,000,
Rs.10,000, Rs.7,590, Rs.7,550, Rs.2,200 and Rs.7,565.
So, the
Mode is most recurring i.e. Rs. 10,000 ( it appeared Twice).
This
is not reflecting central tendency. It’s meaningless.
But
where do you find Mode useful?
Let’s
take this example which may be more meaningful for Gentlemen!
You are standing in a typical Mumbai
Bus stop and watching women's dressing!
A
Sari , Jeans, Chudidaar or Skirts.
At At the end of the day, if you are not arrested by Police, you come to a
conclusion, that most women in Mumbai wear Jeans! (Quite an insight).
So,
Mode is the best measure for Nominal data (such as Sex, Race, Ethnicity,
Country etc.)
To summarize,
Mean is the Average, Median is Middle and Mode is Most often.
Mean
tells the basic character of a population. It does not represent an individual
from the population. In reality, you may not find anyone matching the mean in
the population.
Median
represents a typical Individual from the population.
Mode
is most often observed.
Learn with this simple song for a better understanding..
Effective Frequency - Advertising Frequency Theory
Looooong ago Thomas Smith , a London businessman wrote a book called 'Guide to Successful Advertising' in the year 1885! He says it takes at least 20 times for one to be exposed to an ad to make a decision!
Observe at what point the Herbert Krugman's three levels of exposure namely Curiosity, Recognition and Decision are at work !
No one can dispute the power of Frequency... However, we need to estimate and carefully judge Reach Vs Frequency and Quality Vs Quantity.
In India, Washing Powder ..... is Nirma.
Thanda Matlab .... Coca-Cola!
What must have made these Brands as generics?
Is it Reach or Frequency or an ideal admixture of both?
Watch the list...
Aspirin is Bayer’s brand of acetylsalicylic acid.
Cellophane is a trademark of Innovia Films Ltd.
Dry ice is a trademark by the Dry Ice Corporation of America.
Escalator is a Trademark of Otis.
Petrol is a trade name.
Videotape is a Trade name of Ampex Corporation.
Xerox is a Brand name of a Photocopying machine.
Observe at what point the Herbert Krugman's three levels of exposure namely Curiosity, Recognition and Decision are at work !
No one can dispute the power of Frequency... However, we need to estimate and carefully judge Reach Vs Frequency and Quality Vs Quantity.
In India, Washing Powder ..... is Nirma.
Thanda Matlab .... Coca-Cola!
What must have made these Brands as generics?
Is it Reach or Frequency or an ideal admixture of both?
Watch the list...
Aspirin is Bayer’s brand of acetylsalicylic acid.
Cellophane is a trademark of Innovia Films Ltd.
Dry ice is a trademark by the Dry Ice Corporation of America.
Escalator is a Trademark of Otis.
Petrol is a trade name.
Videotape is a Trade name of Ampex Corporation.
Xerox is a Brand name of a Photocopying machine.
VIRUS is a.k.a Viru Sahasrabuddhe
VIRUS is aka
Viru Sahasrabuddhe.(not the other way round !!)
Give the words that best describe your project or concept or give a phrase. The tool generates hundreds of acronyms to choose from.
Here is the link
http://acronymcreator.net/
Sometimes, you have a name and you need to add words to each letter. Try it!
http://www.go-quiz.com/acronym/acronym.php
Sometimes you have the letters to Jumble. Here are Jumble solver links!
http://www.specialist-online-dictionary.com/word-unscrambler.html
http://www.vandine.biz/jumble_new.php
http://ull.chemistry.uakron.edu/solveit.html
Now, go Acronym hunting ...
Thanks to the film 3 Idiots, we experienced the power of
Acronyms.
Incidentally, yet another 'VIRUS' is Vital Information Resources Under Siege.
It's not uncommon to search for a catchy name for your project. Well, the name should double as an acronym and reflect the essence of the project. What do you do?
Incidentally, yet another 'VIRUS' is Vital Information Resources Under Siege.
It's not uncommon to search for a catchy name for your project. Well, the name should double as an acronym and reflect the essence of the project. What do you do?
Here
is a free cool tool on the web….called
“ACE Acronym Creator”Give the words that best describe your project or concept or give a phrase. The tool generates hundreds of acronyms to choose from.
Here is the link
http://acronymcreator.net/
Sometimes, you have a name and you need to add words to each letter. Try it!
http://www.go-quiz.com/acronym/acronym.php
Sometimes you have the letters to Jumble. Here are Jumble solver links!
http://www.specialist-online-dictionary.com/word-unscrambler.html
http://www.vandine.biz/jumble_new.php
http://ull.chemistry.uakron.edu/solveit.html
Now, go Acronym hunting ...
 |
| http://www.mindmapinspiration.com/ |
Chanakya Niti
Here is a collection of Chanakya's preachings and few important links to the original work by
Shri R Shama Sastry and other links to sites giving the essence of his work.
Shri R Shama Sastry and other links to sites giving the essence of his work.
My contribution: copy-pasting of a few of the quotes and wisdom referred to as Chanakya Niti into a PowerPoint.
Here are few words about Shri R Shama Sastry who Translated "Arthasastra ":
Rudrapatnam Shamasastry (1868–1944) was a Sanskrit scholar and librarian at the Oriental Research Institute Mysore who is known for discovering and publishing theArthasastra, an ancient Indian treatise on statecraft, economic policy and military strategy.
Rudrapatnam Shamasastry (1868–1944) was a Sanskrit scholar and librarian at the Oriental Research Institute Mysore who is known for discovering and publishing theArthasastra, an ancient Indian treatise on statecraft, economic policy and military strategy.
The Oriental Research Institute was set up in 1891, as the Government Oriental Library, Mysore. It housed thousands of Sanskrit palm-leaf manuscripts. Shamasastry, the librarian, examined these fragile manuscripts daily, to determine their contents and catalogue them.
In 1905 he discovered the Arthasastra among a heap of Palm leaf manuscripts. He transcribed, edited and published the Sanskrit edition in 1909. He proceeded to translate it into English, publishing it in 1915.[2]
The manuscript was in the Grantha script. Other copies of the Arthasastra were discovered later in other parts of India.
It was one of the manuscripts in the library that had been handed over by 'a pandit of the Tanjore district' to the Oriental Library.
Until this discovery, the Arthasastra was known only through references to it in works by Dandin, Bana, Vishnusarma, Mallinathasuri, Megasthenes, etc. This discovery was "an epoch-making event in the history of the study of ancient Indian polity". It altered the perception of ancient India and changed the course of history studies, notably the false belief of European scholars at the time that Indians learnt the art of administration from the Greeks. The book was translated into French, German and many other languages.
All his works received great attention from many great Scholars around the world, particularly European Indianists. Several titles were also conferred on him, including Arthasastra Visharada by the Maharaja of Mysore, Mahamahopadhyaya by the Government of India, and Vidyalankara and Panditaraja by the Varanasi Sanskrit Mandali.
Text Copied from Wikipedia
All his works received great attention from many great Scholars around the world, particularly European Indianists. Several titles were also conferred on him, including Arthasastra Visharada by the Maharaja of Mysore, Mahamahopadhyaya by the Government of India, and Vidyalankara and Panditaraja by the Varanasi Sanskrit Mandali.
Text Copied from Wikipedia
The Art of War
Sun Tzu is also known as Sun Wu is an ancient Chinese Military General, Strategist and a Philosopher.
He is known to have authored a masterpiece that stood the test of time.
2000 years back the strategies he conceived still hold an important place in today’s world.
The corporate world has enough and more to learn from his work.
Here is the summary just in seven points.
Want to read more? Here are few links....Search Google for a million links...
The Art of War -Translated Version
Review Article in Oxford Leadership Journal
He is known to have authored a masterpiece that stood the test of time.
2000 years back the strategies he conceived still hold an important place in today’s world.
The corporate world has enough and more to learn from his work.
Here is the summary just in seven points.
The Art of War -Translated Version
Review Article in Oxford Leadership Journal
Concentration Curves : Tool for Resource Optimization
Every organization in these times is working against odds. One of
the major actions of organizations during tough times is Ephemeralization or "Do more with less"
This principle holds good not only for organizations but also individuals who are attempting to optimize resources available to them. All you need to do is identify is the resources!
There are many tools to undertake work towards Resource optimization. One of the easiest and fastest is creating "Concentration curves".
This demonstrates World GDP with GDP of countries on Y-Axis Vs No. of Countries on X-Axis.
I have created a Template for you. You can create concentration curves using your own data.
During these tough times, organizations need to
constantly evaluate their resource utilization and undertake Optimization of the process so that you can really "Do more with less".
To me, resource Optimization is not cutting resources. It’s
putting resources to good use.
This principle holds good not only for organizations but also individuals who are attempting to optimize resources available to them. All you need to do is identify is the resources!
There are many tools to undertake work towards Resource optimization. One of the easiest and fastest is creating "Concentration curves".
Once you understand the basic concept, you can use it with Resources and Outcomes like Sales Vs. People deployed, Sales Vs.
Expenses Sales Vs. Time invested etc.
Concentration curves are simply a Graphical representation of
Cumulated Outcomes Vs Cumulated Resources. In the graph,
~ The Vertical axis(Y-Axis)holds Cumulated Outcomes and
~ Horizontal Axis (X-Axis) holds Cumulated Resources.
~ The Vertical axis(Y-Axis)holds Cumulated Outcomes and
~ Horizontal Axis (X-Axis) holds Cumulated Resources.
So at a given point on the graph, you know exactly how much is
the Outcome Vs. Resources were used to generate the Outcome. Take a look at this example on concentration curves of GDP of 181 countries and their contribution to World GDP. You can observe that 35 Countries Contribute to 90% of the World GDP and the Rest of the 146 countries contribute to a mere 10% of the World GDP.
So the information you get will be something like this.
~ 20% of the field force give us about 80% of the sales
~ 40% of the money spent on the brand gave us 95% of the
sales
~ 25% of Territories are responsible for 70% of the Sales
generated
~ 20 Members out of 125 salesforces produce 75% of the Sales.
~ 20 Members out of 125 salesforces produce 75% of the Sales.
Does that ring a bell? Yes..
It's akin to Pareto Chart, Lorenz
Curves for Gini Calculations.
You may refer to my earlier post: What is GINI ? for more information
This demonstrates World GDP with GDP of countries on Y-Axis Vs No. of Countries on X-Axis.
I have created a Template for you. You can create concentration curves using your own data.
Here are 3 simple steps
1.Paste data in coloured cells. The rest of the computations are
automatic.(In fact computations are simple)
2.Tweak the slider to match your data (Shown in
downloadable excel file)
3.Read values at each data point by using the slider.
Download the Concentration
Curves Tool Here
This is a DOCOMO stuff! (Download,Copy and Modify at your will...You can find them @Downloads
Bidding for the Patient : Empowerment to patient
Sometime back,I was asked about 'Indian Pharma / Healthcare Crystal Ball' and I made some notes....Here is a small portion of the same.....
"Medical tourism both from foreign countries and within India will grow. Hospitals may bid for a patient on price and quality for a given surgery. Patients can shop online for comprehensive care and cost."
Here we go.. Today I received a message about the announcement of a new website ... Take a look...
Let's wait and watch How the market grows. Congrats to www.Medeel.com
"Medical tourism both from foreign countries and within India will grow. Hospitals may bid for a patient on price and quality for a given surgery. Patients can shop online for comprehensive care and cost."
Here we go.. Today I received a message about the announcement of a new website ... Take a look...
Let's wait and watch How the market grows. Congrats to www.Medeel.com
Sutton's Law
 |
| Willie Sutton Taken from Wikipedia |
He is famous for his answer to a reporter who asked him why he does Bank robberies.
he simply answered: "because that's where the money is."
This quote is the very basis of Sutton's law.
This means you should search for the "Obvious" while analysing or diagnosing things.
So, when you are in search of the obvious, you are expected to do those tests in a sequence that would result in the most effective diagnosis or analysis.
An extension of the same in medical parlance is....
When you hear hoofbeats behind you, think horses, not Zebras..
By the way...next time when you take up the task of analyzing a business problem, remember Sutton's law!
Such approaches in a business environment can minimize analysis paralysis
Make life easy with Shortcuts
Like them or hate them! You have
no choice.
You may say to yourself that this
need not be your core skill. But deep in your heart, you know, you must be
fairly conversant with these Two 'God's Gifts' to corporate mankind for your
survival.
Here are PowerPoint and excel
shortcuts that can make your life easy. These were chosen after careful
consideration of the everyday work of an executive.
The Primordial necessities: Both Excel and PowerPoint
~ CTRL+C : Copy
~ CTRL+V : Paste
~ CTRL+Z : Undo the mistake
~ CTRL+S : Save
~ F7 :Spell Checker
PowerPoint S.Cuts.,
~ CTRL+ M : Insert New Slide
~ CTRL+SHIFT + > or < : Increase or Decrease font Size~ CTRL+ M : Insert New Slide
~ CTRL+ K : Create a Hyperlink
~ F5 : Go to Presentation Mode
~ Shift + F5 - View the slide show from the current slide forward
~ B or . (Period) : In the presentation mode to make the screen go Blank/Black and back to Presentation.
~ Home: Go to the First slide.
~ End : Go to the Last Slide
Excel S.Cuts.,
CTRL +Arrow keys : Go to the end of a Range ( Use Up/Down/Right/Left arrow keys)
~ CTRL+ Pageup or Page Down : Switch between worksheets
~ SHIFT+ Arrow Keys : Select a Cell Range
~ CTRL+SHIFT+Page up/Page down : Select a cell Range to the last cell with Data
~ ALT+ENTER : Insert a new line within a cell
~ F2 : Check the formula references
~ F4 : Add $ sign for a Reference
~ F11 : Select a cell range and show an instant graph.
Excel S.Cuts.,
CTRL +Arrow keys : Go to the end of a Range ( Use Up/Down/Right/Left arrow keys)
~ CTRL+ Pageup or Page Down : Switch between worksheets
~ SHIFT+ Arrow Keys : Select a Cell Range
~ CTRL+SHIFT+Page up/Page down : Select a cell Range to the last cell with Data
~ ALT+ENTER : Insert a new line within a cell
~ F2 : Check the formula references
~ F4 : Add $ sign for a Reference
~ F11 : Select a cell range and show an instant graph.
Use them regularly. They can save your time!
Lots of Your Time. Trust me!
DIY : Sales Tracker - Simple and Effective
Everyone in sales knows the importance of Sales Data.
Tracking Sales vs. Quotas at periodic intervals helps you manage performance and earn incentives.
~ Can be used by Sales Representative as well as
Team leader.
~ Can Track up to 15 territories and 15 Brands in each territory.
~ Month,YTD, Bi-Month, Quarter, 4 Month , Half year & Year intervals.
~ Sales at team level
~ Graphs showing sales progress and achievement of Quotas (Targets)
Sounds useful ? Go and Download the Sales Tracker from @Downloads or from BOX.You can also download Sales Tracker Demo with Dummy Data to get a feel of it.
Tracking Sales vs. Quotas at periodic intervals helps you manage performance and earn incentives.
Usually,Incentives on Sales are at various periods like Month,
Bi Month, Quarter, 4 Monthly, Half-Yearly and Yearly intervals.
Paying attention to Balance-To-Go for various brands at various time intervals helps you achieve overall sales goals, sales mix and earn 'hand'some incentives.
Here is a Sales Tracker for you...
Paying attention to Balance-To-Go for various brands at various time intervals helps you achieve overall sales goals, sales mix and earn 'hand'some incentives.
Here is a Sales Tracker for you...
It needs one-time “time” investment to plug in the data of last
year sales and Quotas (Targets) for this year. Sales data for current year needs to
be keyed in as months progress.
The Sales Tracker...
The Sales Tracker...
~ Can Track up to 15 territories and 15 Brands in each territory.
~ Month,YTD, Bi-Month, Quarter, 4 Month , Half year & Year intervals.
~ Sales at team level
~ Graphs showing sales progress and achievement of Quotas (Targets)
Sounds useful ? Go and Download the Sales Tracker from @Downloads or from BOX.You can also download Sales Tracker Demo with Dummy Data to get a feel of it.
It’s a DO.. CO .. MO stuff… Download,
Copy and Modify
as you please…
Please let me know your views...or leave a comment..
Share it if you have liked the post.
Please let me know your views...or leave a comment..
Share it if you have liked the post.
Deja vu.. Black Berry
It was a couple of years ago, myself
and my colleagues on our way to the office were discussing ‘Blackberry Boys' and we all felt that BB
will die soon.
We could peep into the future with ease...easily but wonder how BB missed it and messed it! It is Hot on the web to discuss reasons for BB’s debacle...
We could peep into the future with ease...easily but wonder how BB missed it and messed it! It is Hot on the web to discuss reasons for BB’s debacle...
However, My take is…
- Respect the Customer.
- Listen.
- Unlearn to Re-learn.
Starting from the day your confidence gets appended
with ‘over’, your days are numbered.
Take a look at the videos. they thought that it's market-shaping!
Well, the market shaped the RIM.
Take a look at the videos. they thought that it's market-shaping!
Well, the market shaped the RIM.
Two years later, RIM is dead and BB10 is a new avatar.
If BB is to rise like a Phoenix, It will have to patiently wait for iPhone or Samsung to do the same mistake!
If BB is to rise like a Phoenix, It will have to patiently wait for iPhone or Samsung to do the same mistake!
Not surprisingly, I get a sense of deja vu after iPhone 5 launch and iphone 6 previews.
This is the ' Market Shaping' BlackBerry Indian ad..
This is the ' Market Shaping' BlackBerry Indian ad..
Here is an article closely related to this article from Strategy+Business
Publicis CEO's 2013 message .Great Interactive video
Do not miss using YouTube controls generously..
Use...
~ Sound
~ Picture Quality
~ Stop
~ Play
~ Full Screen
to enjoy a Brilliant Interactive Video.
Happy Weekend!
Here are the Stats if you are interested.
Use...
~ Sound
~ Picture Quality
~ Stop
~ Play
~ Full Screen
to enjoy a Brilliant Interactive Video.
Happy Weekend!
Here are the Stats if you are interested.
The Problem itself as a Solution : Six examples
Problems
are everywhere. Problems are opportunities. The more, the merrier.
Because
, we all make money on problems. Every single business in the world thrives by
offering a solution to a problem. However, we are yet to recognize that many times,
the problem itself is the solution.
Here I furnish
six Innovative solutions by experts using the problem itself as a solution.
Vaccines: Use the Pathogen itself as a Medicine
A vaccine typically contains an agent that resembles a
disease-causing microorganism, and is often made from weakened or killed forms
of the microbe, its toxins or one of its surface proteins.
Traffic Jams: Avert bigger traffic jams by
creating Smaller Traffic jams.
Yes.
Indeed. Haven’t you thought that systematically small traffic jams are created
at every Red light to ensure you avoid bigger traffic jams? We all know the
chaos when traffic signals fail. Mumbaikers, the citizens of Mumbai Know its
Value. That’s why you find they rarely jump the signals. Want to know more science behind this, read
the brilliant book titled “Numbers Rule Your World: The Hidden
Influence of Probabilities” by Kaiser Fung.
Population Control: Control Population by
increasing the life expectancy at Birth (reducing child mortality)
Research
shows when child death rates are high, families tend to have more children in
anticipation of child mortality. we may not agree Immediately due to a lack of understanding
of numbers. Take a look at the Video by Prof Hans Rosling. He says …Child survival will help in stopping
population growth, will help the family also having fewer pregnancies.
Homoeopathy
: Similia
Similibus Curanter (Latin)
or in plain English, “that
which can cause can cure”. In a layman’s language, a substance that causes the
symptoms of a disease in healthy people will cure similar symptoms in sick
people. This is the fundamental principle of Homeopathy.
Mosquitoes: Control Population of Mosquitoes by
breeding more mosquitoes
Yes. Oxytec, a company of Mr Haden Parry has a solution
to control the mosquito menace. The solution is to breed a special male
mosquito that can regulate female mosquito fertility. All you need to do is breed them and leave them to the environment. The concept lies in using two biological features. One is that male
mosquitoes do not bite and so, it can not cause disease and the other one is a law of nature! The male will always find females to mate with!
Cybersecurity: “Hacktivists” as cybersecurity
professionals or Anti Hacker hackers!
Today
the world uses hackers to combat cybercrime. We now have Ethical Hacking as a respectable profession!
We were
never taught to look for the solution in the problem itself. So, we need to unlearn and relearn.
This unlearning and relearning can creatively change our approach to the problem and possibly bring in innovative solutions.
This unlearning and relearning can creatively change our approach to the problem and possibly bring in innovative solutions.
Though
it is a cliché, I dare to quote “Even Impossible and I ‘ m possible”.
Does it ring a bell?
Have you taken a deeper look at the menu ?
We receive updates on LinkedIn every day.
Piqued by
the quantum of updates, I was cursing LinkedIn for pushing irrelevant
updates.
The moment you open LinkedIn, you are greeted with updates of your connections following innumerable companies and these lists are never-ending. In the process, you may miss knowledge updates.
Piqued by
the quantum of updates, I was cursing LinkedIn for pushing irrelevant
updates. The moment you open LinkedIn, you are greeted with updates of your connections following innumerable companies and these lists are never-ending. In the process, you may miss knowledge updates.
I was about to
write to LinkedIn to give choice to the users what to view and what not to
view. Then,I took a deeper look at the menu. I realized that my ignorance was
profound.
The choice is already there.
I just had to find it.
The same is true with our lives. Everyday opportunities and choices are presented to you like a menu.
The choice is already there.
I just had to find it.
The same is true with our lives. Everyday opportunities and choices are presented to you like a menu.
Have you taken a deeper look at the menu?
Yesterday's 8 GB is todays 32 GB !!!
Maybe my ignorance.
Maybe it a simple issue for a finance professional but, I failed to understand...
The story goes like this....I bought an 8 GB SD card from a leading
"TRUSTworthy" electronics store in Jan'12 for Rs.1200.Now, in Jan
2013 This SD card conked out!
I
took it to store as it is under warranty and the store gracefully agreed to
replace it. He had 2 choices
Choice 1: Replace an 8GB Piece
Choice 2: Give back Money and ask me
to buy goods worth Rs.1200 (Incase my goods exceed Rs.1200/- I need to pay the difference amount)
When
I requested Option 2, the store manager agreed.
So, I had Rs 1200 /- to purchase.
So, I had Rs 1200 /- to purchase.
In lieu of an 8GB Card, I purchased a 32GB card for the same Rs 1200. (Nowadays a
32 GB SD Card costs ~ 1200)
No
extra money or difference of money was paid.
Now, my gain is 8GB to 32GB for the same Rs.1200
( Should I consider Rupee devaluation in 1 year + Inflation as my extra gain ? )
( Should I consider Rupee devaluation in 1 year + Inflation as my extra gain ? )
How
about to Store? I understand the intangible gain like goodwill etc.
Other
than those intangible issues, Did the store Gain ? or No Loss-No Gain or Notional Loss?
Though no one measures P&L on a single SD Card, If we were to compute what is the P&L?
I am confused @#$%^&
Though no one measures P&L on a single SD Card, If we were to compute what is the P&L?
I am confused @#$%^&