And would love to meet more such people. Help me with contacts and references :)

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SG

“Next time you want real insights, please speak to someone who actually speaks to the customer and tries selling things.”

All I can say is that you presume rather a lot about me :-) And about those who ‘run’ things. Competent people usually do not get parachuted into jobs but earn their stripes and know the ropes of the business. The best people at the top have broad and deep views and they are not shielded bty anything.

I would suggest you seek conversations with some more inspiring ‘corner office’ or ‘top floor’ people, who have seen the various cycles of business - not just the ‘up’ phase - and who can talk in broader terms as well as specifics.

Best wishes.

Trust me, even with a commercial banking company like GE, there are so many things that you could have changed.

And I completely agree that sector is regulated and we need to keep a close watch and control on how people work. They do is really really well. And in the process they hinder effective working of employees.

Talking about other companies, GE Money is the only company in India that is struggling with their loans business and cards business is hit by high delinquency rates (Other companies are struggling too but none as bad as GE. Citi was in trouble but they seemed to be going slow on things, Barclays tried and has not even made any dent in the market, other established players are doing fine).

I again dont want to get into specifics, since this is a public forum. Would love to rack my brains with you on this since you have a conflicting opinion. Your Mumbai visit, I shall make sure you are told the “real” way companies function :D

Finally views from the corner offices on the top floor (and the people who “run” things rather than “implement” things) and investors IMHO are often shielded by thick curtains of bureaucracy, red tapes and boardroom meetings. Next time you want real insights, please speak to someone who actually speaks to the customer and tries selling things. I got a rude shock when I accompanied my sales agents. It was an eye opener and since that day I speak to field agents in any business if I need insights or information.

Regards,
SG

GE Money is a very specific case and I daresay your experience would not have been very different if you worked in any other commercial banking establishment. The commercial banking sector is very closely and tightly regulated; violations, and errors of omission and commission all cost dear. One is not meant to use ‘common sense’ because it can give people misguided confidence and create more headaches for management. Hence more ‘exceptions’ than ‘policies’. As it happens, my ‘insight’ into this world comes from working with investors and from knowing a few people here who run the world’s largest bank card transactions business.

When I say its not upto the mark, I am talking about the leadership at GE Money India. Probably its unfair on my part to comment on the entire company because my interactions with a smaller part of the company were sore. I think I will edit the post.

I too joined the leadership programme and we were TOLD (not advised) things that are really dumb both professionally and conventionally. I cant comment from the ’strategic challenges’ that a firm faces but I can comment on the day to day running on the company (where I was part), the ethos, the culture, the policies, the ‘exceptions to policies’, so on and so forth. On paper we were an exceptional company but in practise we were not. There were more exceptions that policies. I can go on forever but no point. Probably when you are in Mumbai, will give you more ‘insights’ :D

And thanks for reminding that its Goldman that Mr. Buffet invested in. Have corrected it.

Thanks,
SG

A company like GE does not become the behemoth by having management that is not ‘up to the mark’. Innovativeness of the kind GE has is not about risk-taking but about sensible risk-taking. Two of my friends joined GE in their leadership programme and their experiences were very different. It may be fair to say that unless early years in a company have exposed someone to the firm’s greater strategic challenges, the view at the frontline may not be totally accurate.