The Controversial Differences of Opinion between Rabindranath Tagore and Mahatma Gandhi

Described as a “world poet,” Rabindranath Tagore is considered a mystifying ecumenical figure and an archetype of human creative possibility. Rabindranath Tagore bestowed the title of ‘Mahatma’ (“Great Soul”) on Mohandas Karamchand Gandhi in 1915. Mahatma Gandhi called Tagore Gurudev (“Revered Master”) and he attained a certain classicality. Tagore’s literary works have universal appeal and that illuminates his complexity and “myriad-mindedness.”

Nevertheless, experts have said that although Tagore admired Gandhi, he differed with him on specific issues.

The Controversial Differences of Opinion between Rabindranath Tagore and Mahatma Gandhi

“Tagore admired Mahatma Gandhi immensely and expressed his admiration for his leadership time and again, but sharply differed with him when Gandhi was departing from adequate reasoning,” Nobel-prize winning economist Amartya Sen once said.

After the Nepal-Bihar earthquake of 1934, Gandhi credited the disaster to the custom of untouchability among Biharis. Gandhi had said the earthquake was “a divine chastisement for the great sin we have committed against those whom we describe as Harijans”.

Although Tagore was against untouchability, he found this line of reasoning on Gandhi’s part unfounded and irrational.

Apparantly, Tagore shot off a refutation on rationalist lines, with a appeal for it to be published in Gandhi’s periodical, Harijan. The correspondence expressed “painful surprise” at “this kind of unscientific view of things”. It was plainly erroneous, Gurudev argued, to “associate ethical principles with cosmic phenomena”:

In the Harijan issue of 16 February, 1934, Tagore wrote his article The Bihar Earthquake to which Gandhi wrote his rejoinder Superstitions vs. Faith (pp. 115-121). Tagore considered Gandhi’s view that untouchability had brought down God’s vengeance upon certain parts of Bihar in the form of an earthquake as ‘unfortunate’, ‘unscientific’ and “too readily accepted by a large section of countrymen” (pp. 115): “If we associate ethical principles with cosmic phenomena, we shall have to admit that human nature is superior to Providence that preaches its lessons in good in orgies of the worst behaviour possible” (p.116). This amounts to “making indiscriminate examples of casual victims…in order to impress other at a safe distance who possibly deserve severer condemnation” (p 116). He felt the kind of argument that Gandhi used by exploiting an event of cosmic disturbance far better suited the psychology of his opponents than his own; and, “We, who are immensely grateful to Mahatmaji for inducing, by his wonderworking inspiration, freedom from fear and feebleness in the minds of his countrymen, feel profoundly hurt when any words from his mouth may emphasize the elements of unreason in those very minds — unreason which is a source of all blind powers that drive us against freedom and self-respect”. (p117).

Differences of Opinion between Rabindranath Tagore and Mahatma Gandhi

To this, Gandhi had replied that he felt phenomena like droughts, floods, earthquakes et cetera, though they seem to have only physical origins, are somehow connected with man’s morality.

Gandhi replied by saying that he long believed phenomena produce results both physical and spiritual; and, “The converse I hold to be equally true … We do not know all the laws of God nor their working… I believe literally that not a leaf moves but by His will. Every breath I take depends upon His sufferance …. what appears to us as catastrophes are so only because we do not know the universal laws sufficiently … (catastrophic) visitations… though they seem to have only physical origins are, for me, somehow connected with man’s morals … My belief is a call to repentence and self-purification … even as I cannot help believing in God though I am unable to prove His existence to the sceptics, in like manner, I cannot prove the connection of the sin of untouchability with the Bihar visitation even though the connection is instinctively felt by me” (pp.118-l20). And the utilitarian then spoke and bared himself thus, “If my belief turns out to be ill-founded, it will still have done good to me and those who believe with me. For we shall have been spurred to more vigorous efforts towards self-purification…” (p.120). And answering Tagore’s stinging comment that “our own sins and errors, however enormous, have not got enough force to drag down the structure of creation to ruins” (p. 117), he said, “On the contrary I have the faith that our own sins have more force to ruin that structure than any mere physical phenomenon” (p, 120), And he concluded, ” …the connection between cosmic phenomena and human behaviour is a living faith that draws me nearer to my God, humbles me and makes me readier for facing Him”. Gandhi, in arguing thus, is proved one who must maximise utility and make use of every circumstance to forward ends he considers desirable. And his conviction about his belief obliterates from consciousness any apparent factual inconsistencies that his system of faith has with a physical phenomena as ordinarily understood. Both, in their own way, are relevant and unimpeachable.

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Career Success Depends on Your Ability to Motivate Individuals and Teams to Get the Right Results

Nothing leaders do is more significant than getting results. But you can’t get many results by yourself—you need people to help you. And the best way to have others help you is by motivating them to accomplish results. The old paradigm, which says revenue growth and shareholder-value growth are interrelated, does not go far enough toward clarifying how the best companies produce value. Try using these three motivation principles.

Principle #1 of Motivation: Motivation is Material Accomplishment

Ways to Increase Employee Motivation “Motivation” has common roots with “motor,” “momentum,” “motion,” and “mobile.” These words represent movement and action. Motivation isn’t about what people think or feel but what they do. When motivating people to get results, challenge them to take those actions that will achieve desired results.

You will be more competitive when your people, instead of being ordered to go from point A to point B, want to go from point A to point B. They will “want to” when they believe in your leadership. This predisposition cannot be helped because of indispensable variances in the program designers’ backgrounds. But eventually, a single approach is too constricted. To design learning experiences that work, leadership training will have to integrate more meritoriously all four approaches into a solitary program. Consequently, leadership training has budged toward teaching managers and executives how to expect what is on their industry skyline and how to mobilize their organization to shape the future.

The first step in conscripting their belief in your leadership is for you believe in them and to value the work they do. Express your belief that they can get the results you are asking of them. Tell them how much you appreciate their hard work. For many companies, leadership training then basically befalls a quick-fix answer to greater problems.

But believing is not enough. Motivation means people take the precise actions they need to take to make happen what you want to have happen. Encourage people to write down three precise things that they need from you to help them get increased results.

Principle #2 of Motivation: Motivation is Propelled by Emotion

The Meaning of Motivation in Management Emotion and motion come from the same Latin root meaning “to move”. When you want to move people to take action, engage their emotions. People need a strong emotional commitment (motivation) to take action and realize the goal. The key is to visualize the future as having numerous possibilities and to develop intuition about relative probability by revealing ourselves to a wide gamut of successes and failures.

When I explained this to the chief marketing officer of a services company, he said, “Now I know why we’re not growing! We (senior leaders) established our marketing strategy in a bunker! He showed me his 40-page strategy document. The points were logical, consistent, and all-inclusive. It made perfect sense—to the senior leaders. But it did not make experiential sense to the people who had to carry it out. Since they had no input into the strategy, they disrupted the implementation in many innovative ways. Only when people are motivated—emotionally committed—to functioning the strategy, does it have a chance to succeed.

Principle #3 of Motivation: Inspiration is What Others Do to Themselves, Not What You Do to Them

You and I can’t motivate anybody to do anything. The people we want to motivate can only motivate themselves. The motivator and motivatee are always the same person. Leaders communicate, but individuals must motivate themselves. So, our “motivating” others to get results really entails our creating an atmosphere in which they can motivate themselves to get those results. On top of that, there is the very important role of setting direction and in communicating that direction.

Create the Right Climate to Motivate Employees For example, one leader almost encountered a mutiny when he presented next year’s goals—numbers much higher than the previous year’s goals. The staff went ballistic. “You expect us to get much higher numbers? No way!” He told me. “I know we can hit those numbers. I just have to get my people motivated!” I recommended that he create an environment in which his people could motivate themselves. So, he had them measure what activities got results. They discovered that they spent 60 percent of their time on work that had nothing to do with getting results. He then had them develop a plan to eliminate the pointless work. Once in charge of their own destiny, they got motivated! They established a great plan and started to get great results.

A good number of leadership programs have a half-life of a few days or weeks after the conferences close. Few have established passable transfer mechanisms to bring leadership skills back alive to the office, and most are captives of a single pedagogic method that imitates the teaching of their instructors.

Create the Right Climate to Motivate Employees

At the moment, there are adequate incentives for people to perform, based on the recognition that they accomplish what we thought they should to achieve. The point is that there are people to talk to who have an in-depth, long-term appreciation of the company and who know what is really going on.

Your career success depends on the ability of managers to motivate individuals and teams to get the results. The best ways to recognize others and celebrate accomplishments is best done by:

# setting high standards,

# discovering people doing things right,

# being innovative with rewards,

# acknowledging others in public, and

# personalizing rewards.

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Customer Feedback Systems to Go Beyond Customer Expectations

Customer Feedback Systems to Go Beyond Customer Expectations

There used to be a sofa in Microsoft’s telephone customer support center called “the Mail Merge couch”—named for a feature in Microsoft’s word-processing program that lets users customize form letters. The early version of Mail Merge was so complicated that whenever a customer called for help, Microsoft’s representative would lie down on the couch, knowing the conversation was likely to take a long time.

Clearly, something was wrong with that feature. Microsoft fixed the problem in the next generation of Word (and eliminated the need for the couch), but the story illustrates just how important customer feedback can be.

Most business managers understand that using customer feedback to guide the development and improvement of products and services is critical to success. However, some companies and individual managers are better than others are at collecting feedback and using it to make strategy decisions.

Nine Customer Feedback Rules for Managers

Managers who want to help their companies be customer-driven might observe the following nine rules.

  1. Create a system for effectively soliciting customer feedback, and then put that system to work. Boeing uses extensive customer involvement when developing new jetliner models. United Airlines influenced the design of both the 767 and the 777, and British Airways and Eastern Airlines participated in developing of the 757. As a result, the airlines were able to tailor the planes to their specific needs and preferences.
  2. Make sure your feedback system provides reliable information from a cross-section of customers. When a company has thousands or millions of customers, it can’t involve many of them in the product design, but it can involve a representative sample of customers.
  3. Make it easy for customers to provide feedback. Some companies offer a customer-feedback phone number. Surveys are another system for gathering feedback, but many people, including me, are not willing to spend much time answering them. Observing customers while they are using existing products and services is habitually the only way to identify hidden frustrations that they may not even be deliberately conscious of.
  4. Microsoft's Nine Customer Feedback Rules for Managers Send e-mail surveys to customers and offer incentives to fill them out and return them. The incentive may be a little digital money or coupons to buy products at a discount. The electronic survey will be immensely efficient for the company, because the survey results will be in electronic form, making results easier to compile and analyze. Some companies already use the Internet in this way. Encyclopedia Britannica recently e-mailed people who had accepted a free seven-day trial of the company’s online reference, offering another free week to those willing to fill out an online survey about their reactions to the product and its price.
  5. Use focus group and customer councils. Getting a few customers together to discuss their reactions to current and new products or services is another good way to collect customer feedback, although these groups and councils, too, have their limitations.
  6. Go beyond what market research tells you. The transition to graphical computing is an example of an instance where Microsoft needed to go beyond what Microsoft’s market research was telling us. Most software customers who were surveyed did not know they would prefer graphical computing because they had not tried it. Microsoft believed that customers would prefer the new way of interacting with their computers, even though Microsoft’s market research was not very positive. Microsoft’s gamble proved right.
  7. Log and evaluate all service requests, customer suggestions, and product complaints. Microsoft logs and evaluates hundreds of thousands of calls made to Microsoft’s support technicians every year. Put yourself in your customers’ shoes. Observe them using products and watch for frustrations they may not even notice.
  8. Require that the software engineers who develop products spend some time listening to calls from customers. These engineers need to get firsthand feedback. To get the attention of Microsoft’s group managers, Microsoft charges their departments for the cost of providing technical support to customers who use their products.
  9. Request, receive, and act on input from your salespeople. Microsoft seeks and use input for the people who are out in the field with customers. In this industry, customers are eager to share their ideas, frustrations, and enthusiasm. Microsoft is also lucky to be in an industry where products are so adaptable. Whereas it might take an automobile company five years to retool a car model to adapt to customer preferences, software companies can—and do—update their products constantly in response to customer input.

Beyond Customer Feedback

Customer feedback is critical to success of a business No system of market research is foolproof, of course. Even companies that do a good job of listening to customers can make mistakes. Business partners are relying on questionable information to make customer-related decisions. Our new understanding of customer-related decision making should be the starting point for a research approach that has impact on a greater proportion of high-value customer-related decisions.

I am a strong believer that heeding customer feedback is critical to success in any business, especially a dynamic, fast-moving industry such as ours. Despite Microsoft’s willingness to look beyond customer input, 80 percent of the improvements in products like Windows result from customer feedback. Experience has taught us that it is also important to trust your instincts, to take risks, and to provide leadership, even when the customer is not demanding that you do so.

Apply these rules to your business and use the feedback to make improvements. Companies often make the blunder of organizing customer feedback systems around one structure—say lines of business or channel—and employee feedback systems around another—say geography or function. In the end, well-designed feedback loops facilitate employees to be more empowered and companies to be more approachable, creating the competitive edge companies need to adapt and thrive.

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Bill Gates on Malcolm Gladwell’s 10,000 Hour Rule

Malcoln Gladwell It’s a tempting proposal: if you practice anything for 10,000 hours, then you will become world class. In 1993, scientist Anders Ericsson learned of a group of psychologists in Berlin who were researching violin players found that, by age 20, the leading performers had averaged in excess of 10,000 hours of practice each. Less able performers, in the meantime, clocked up just 4,000 hours. Malcolm Gladwell popularized the notion further in his book Outliers: The Story of Success.

In study after study, of composers, basketball players, fiction writers, ice-skaters, concert pianists, chess players, master criminals,” writes the neurologist Daniel Levitin, “this number comes up again and again. Ten thousand hours is equivalent to roughly three hours a day, or 20 hours a week, of practice over 10 years… No one has yet found a case in which true world-class expertise was accomplished in less time. It seems that it takes the brain this long to assimilate all that it needs to know to achieve true mastery.

Gladwell applied the concept to Bill Joy, Bill Gates, and the Beatles, who sharpened their musical know-how in performance at Hamburg’s strip clubs. Gladwell says:

The Beatles ended up travelling to Hamburg five times between 1960 and the end of 1962. On the first trip, they played 106 nights, of five or more hours a night. Their second trip they played 92 times. Their third trip they played 48 times, for a total of 172 hours on stage. The last two Hamburg stints, in November and December 1962, involved another 90 hours of performing. All told, they performed for 270 nights in just over a year and a half. By the time they had their first burst of success in 1964, they had performed live an estimated 1,200 times, which is extraordinary. Most bands today don’t perform 1,200 times in their entire careers. The Hamburg crucible is what set the Beatles apart.

'Outliers' by Malcoln Gladwell (ISBN 0316017922) Coined by Florida State psychologist Anders Ericsson and made famous by Malcolm Gladwell in his book Outliers, the 10,000 hour rule reflects the belief that becoming a superlative athlete or performer rests on a long period of hard work rather than “innate ability” or talent. As stated by Malcolm Gladwell’s famous 10,000-hour rule, genuine success only comes to people who are willing to put in a great many hours to become first-class at something they value. Whether it involves learning a new piece of equipment, a new language, or developing a craft, being able to cope with setbacks and stay focused on goals regardless of how far-flung they seem. And so the importance of resolve and steadiness in success.

Bill Gates did not only have an propensity for creating software, he also had just about exceptional access as a schoolboy to a mainframe computer that the parents’ association of his local school invested in, in 1968. He got to it in eighth grade before just about anyone else in the world. Correspondingly the Beatles’ genius for melody did not come ready made. They developed it while singing in Hamburg in the early Sixties, at all-night strip clubs. In those years they dedicated more time to pop music than any of their peers. The same could be said for Mozart, or Tiger Woods. They had capability, sure enough, but they also had extraordinary family circumstances that allowed them a reasonable advantage at a very early age. They put the hours in first.

Extraordinary success depends on talent, hard work, and being in the right place at the right time, among other things. In Outliers, Gladwell contends that, to truly master any skill, leaning on various pieces of research, requires about 10,000 concentrated hours. If you can get those hours in early, and be in a position to exploit them, then you are an outlier.

When asked, “What do you think of Malcolm Gladwell’s theory that the years 1953 to 1955 were the perfect ones in which to be born for the computer revolution?” by his father William H. Gates Sr., Bill Gates reponds:

His book makes a lot of great points … that is that in all success stories there are significant elements of luck and tiny … I wasn’t the only kid born between 1953 and 1955, but absolutely to be young and open-minded at a time when the microprocessor was invented … in my case have a friend Paul Allen who was more open-minded about hardware type things and literally brought me the obscure article to talk about that first microprocessor and said you know this is going to improve exponentially … what does that mean and I said well at that means it we can do anything we want and then he was … you know … bugging me the rest of the time every time there’d be a new microprocessor he said can we do something yet and when we were in high school that can happen … so he came back to possible good job there and actually the microprocessor that was finally good enough came out in early 1975 and that’s why I i dropped out … so the timing was pretty important you know why didn’t older people see it … they weren’t this open open minded … they didn’t think about software is the key ingredient … now a lot of kids started doing software and … it’s not if somebody reads the book to say that if you spend 10,000 hours doing something you’ll be super good at it I don’t think that’quite as simple as that what you do is you do about 50 hours and ninety percent drop out because they don’t like it or they’re not good … you do another 50 hours and ninety percent drop out … so there’s these constant cycles and you do have to be lucky enough but also fanatical enough to keep going and so the person makes it to 10,000 hours is not just somebody has done it for 10,000 hours there’s somebody who chosen and been chosen in many different times and so all these magical things came together including who I know and that time … and i think you know that’s very important … when you look at somebody who’s good and say could I do it like them … they’ve gone through so many cycles that it may fool you that you know yes yes you could with the with the right luck, imagination, and and some some talent.

Bill Gates responds to Malcolm Gladwell’s theory that it takes 10,000 hours of deliberate practice to master a skill. Apart from acknowledging luck, timing and an open mind, Gates suggests that a successful person survives many cycles of attrition to make it to 10,000 hours of experience. “You do have to be lucky enough, but also fanatical enough to keep going,” explains Gates.

Unfortunately, a Princeton study, which analyzed 88 studies, established that practice accounted for just a 12% variation in performance.

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Posted in Education and Career Mental Models and Psychology

The Science of Fear

'The Science of Fear' by Daniel Gardner (ISBN 0452295467) Confirmation bias leads us to accept more readily perceived facts that keep to our existing worldview more willingly than objectively considering all of the evidence. Many corporate leaders leverage disruptive change by making targeted, courageous moves toward new market opportunities. Many companies face up to risk with a strategic framework based on extenuating and managing the probable consequences but that line of attack might build bigger protective walls without guarding against the greatest risks—the ones that are unidentified. The uncertainty advantage is something different: an approach that compels managers to recognize the unknown as a market differentiator and an opportunity to give a free rein to innovative solutions that appeal to customers, investors, strategic partners, regulators, and competitors. Concisely, it is an opportunity to go well beyond the characteristic meaning of risk management—that is, seeking ways to achieve the best of the worst outcomes—to create new and sustainable value out of confusion.

In his book, The Science of Fear: How the Culture of Fear Manipulate Brain, New York Times bestselling author Daniel Gardner describes some of our pitfalls when it comes to framing risk properly:

Once a belief is in place, we screen what we see and hear in a biased way that ensures our beliefs are “proven” correct. Psychologists have also discovered that people are vulnerable to something called group polarization—which means that when people who share beliefs get together in groups, they become more convinced that their beliefs are right and they become more extreme in their views. Put confirmation bias, group polarization, and culture together, and we start to understand why people can come to completely different views about which risks are frightening and which aren’t worth a second thought.

It’s also much easier to simply be afraid of that with which we can easily recall to memory. Gardner uses Daniel Kahneman’s two systems of thought to explain:

You may have just watched the evening news and seen a shocking report about someone like you being attacked in a quiet neighborhood at midday in Dallas. That crime may have been in another city in another state. It may have been a very unusual, even bizarre crime—the very qualities that got it on the evening news across the country. And it may be that if you think about this a little—if you get System Two involved—you would agree that this example really doesn’t tell you much about your chance of being attacked, which, according to the statistics, is incredibly tiny. But none of that matters. All that System One knows is that the example was recalled easily. Based on that alone, it concludes that risk is high and it triggers the alarm—and you feel afraid when you really shouldn’t.

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Posted in Investing and Finance Philosophy and Wisdom

Zen Koan #1: Parable of A Cup of Tea – Buddhist Teaching on Spiritual Bankruptcy

Zen Koan #1: Parable of A Cup of Tea - Buddhist Teaching on Spiritual Bankruptcy Together with Vedanta Hinduism, Zen is an early and continuing example of the globalization of religion from the East on several levels. The reward body also appears for the sake of sentient beings; for this reason, it is limited in location. The poem encourages us to practice without attachment. It merely reflects whatever you put in front of it, as it is, without hindrance.

Once you narrow yourself down to the mental environment, there are two things you are involved with—the method, and stray thoughts. What is the difference between Buddhahood and enlightenment? Buddhahood is attaining the ultimate, whereas enlightenment is seeing Buddha nature without encompassing it fully. In Japan, it was pellucid that in the lay Zen tradition you donated to the temple, you had your memorial accommodations, you had your family plot, and you fortified the priest.

Meditation decreases experienced stress load and leads to a faster decrease in heart rate after exposure to stressful film clips, but it is not clear whether improved access to unconscious processes is mediating processes. There are sundry levels of coalesced mind—the unity of self and macrocosm, the unity of body and mind, and beyond this, just one mind remaining.

Zen Koan: “A Cup of Tea” Parable

Nan-in, a Japanese master during the Meiji era (1868–1912), received a university professor who came to inquire about Zen.

Nan-in served tea. He poured his visitor’s cup full, and then kept on pouring.

The professor watched the overflow until he no longer could restrain himself. “It is overfull. No more will go in!”

“Like this cup,” Nan-in said, “you are full of your own opinions and speculations. How can I show you Zen unless you first empty your cup?”

Buddhist Insight on Spiritual Bankruptcy

When water is agitated by waves, reflections that may arise are not grasped. A lot of our busyness is because we’re looking for something to fulfill us. This is the root cause of spiritual bankruptcy, according to Zen Buddhism. The charters are different but the practical path towards human liberation touches both. Can you learn the basic precept of transforming your unwanted sufferings into the path of practice? The British Zen Buddhist author and psychotherapist David Brazier writes in The Feeling Buddha,

We all carry hurt within us. It is not possible to have gone through life without getting buffeted. The hurt we carry is fuel. It is one of the essential conditions for a fire. When a person, or a whole community, is spiritually impoverished, this fuel is stored up. It then becomes tinder dry.The potential for fire to get out of control is then great. This is when wars start. I asked an acquaintance from Sarajevo why he thought the civil war there broke out. He said: ‘Boredom.’ He meant that people’s lives had ceased to be purposeful and war gave them a sense of direction. People sometimes fear that religion causes wars but, although religion, patriotism, self-interest, history and many other things may be invoked by war mongers, the real root of war is spiritual bankruptcy.

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GE Capital Aviation Services: A Fantastic Asset for General Electric

GE Capital Aviation Services: A Fantastic Asset for General Electric

Of the 12 firms that constituted the initial Dow Jones Industrial Average in 1896, General Electric Company (GE) is the only one yet on the list. For more than a century, it has been one of the most successful companies in the world, well-liked for its products, culture, and series of dedicated chief executives.

In 2015, GE assertively moved to wind down GE Capital, which was a considerable but volatile driver of earnings. After selling large portions of its financial business over the past few years, General Electric (GE) has finally shed the “too big to fail” designation. This is for the most part completed, and the residual specialty finance segments have understandable ties to the company’s principal industrial business, such as aircraft leasing. Investors should gain from a much smaller, better-capitalized GE Capital over the long run. Barclays analyst Scott Davis calls one remaining piece of GE Capital, GECAS, GE Capital Aviation Services, “a fantastic asset.” Barclays explains,

GECAS is a fantastic asset, making up more than half of the GE Capital verticals’ asset base and almost 3/4 of its profits/cash. Aircraft leasing is a lucrative and relatively stable business with favorable cyclical and secular market dynamics. The market is becoming an oligopoly with increasing concentration amongst a few key players, and GECAS is the clear leader. Large global players benefit from significant advantages, including large discounts to the latest next-gen aircraft and valuable relationships with top-tier airline customers. From a cyclical perspective, air traffic growth remains strong and lower oil has resulted in strong airline customer profitability. There are also secular tailwinds from a growing global middle class, as well as airlines increasingly choosing to lease their fleets.

'General Electric and the Pursuit of Profit' by Thomas F. O'Boyle (ISBN 0375705678) During the Jack Welch tenure, General Electric benefited from the evolution of financial services in the American economy and the growth of GE Capital. That strategy backfired in 2008 with the arrival of the financial crisis. General Electric had no competitive advantage in financial services. If anything, their risk controls were even inferior to those at other large financial institutions.

Barclays also says GECAS is an asset that’s underappreciated by investors: “We estimate that GECAS will help deliver ~$1.3–1.4B in run-rate free cash flow going forward… not an insignificant amount relative to GE’s ~$9B Industrial FCF in 2016.”

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A Mandala is a Cosmic Diagram that is Symbolic of the Universe

Mandala is a ritual diagram symbolic of the universe---object of meditation in Tantra and Vajrayana Buddhism.

A mandala is a ritual diagram that serves as an object of meditation in Tantra and Vajrayana Buddhism. It is symbolic of the universe.

Around the eleventh century, mandala meditation was initiated in Tibet from India and even today, lamas pass on their knowledge to initiates in the same way.

Mandalas are fabricated at the beginning of a puja, out of grains of colored sand watchfully placed on a specially prepared platform. They are momentary structures and in a instruction of impermanence, are deliberately destroyed at the end of the ritual, their sand swept up and dispensed into a nearby stream or river.

Mandala Denotes the Mind and the Body of the Buddha

The word Mandala is derived from the root manda, essence; and la, container. Thus, a mandala is a container of essence. As an image, it may denote both the mind and the body of the Buddha. The origin of the mandala is the center, the bindu, a dot—a symbol free of dimensions. Bindu also means seed, sperm or drop—the salient starting point. It is the congregation center into which outside energies are drawn, and in the act of drawing in the forces, the devotee’s own energies unfold. In the process, the mandala is sanctified to a deity.

Monks carefully construing a mandala, mystical diagram, with colored sand

Monks carefully construing a mandala, mystical diagram, with colored sand. As is apparent, the making of a mandala is a mind-numbing process, requiring great concentration and attention to every intricate detail of color, line and form. Once the ritualistic purpose is over, the sand is swept away—one more teaching in the impermanence of things. For desire meditate on impurity, for hatred kindness, and for ignorance interdependent arising.

In its creation, a line materializes out of a dot. Other lines are drawn until they intersect, creating triangular geometrical patterns. The circle drawn around stands for the dynamic consciousness of the initiated. The outlying square symbolizes the physical world bound in four directions, and characterized by the four gates; and the central area is the deity. Appearance does not bind, attachment binds. The center being visualized as the essence, and the circumference, as clasping, a mandala thus connotes a grasping of the essence.

Mandala— The Essence of One’s Own Buddha Nature

A Buddha figure in a Tibetan temple, with a mandala on the roof overhead. The figure of the Buddha can be seen in the center of the mandala, which might be supposed to exemplify the being of the Buddha and his nirvana. Examination of such a mandala would be intended to help the practitioner grasp the essence of his own Buddha nature by following the diagram of spiritual experience laid out in the mandala.

Monks in Tibetan Buddhist monasteries are required to learn how to construct mandalas

All monks in Tibetan Buddhist monasteries are required to learn how to construct mandalas. They have to memories texts that specify names, lengths and positions of the primary lines outlining the basic structure of mandalas, as well as the techniques of drawing and pouring sand. By this unfavorable conditions are pacified. These texts, though, do not describe every detail of each mandala, but rather serve as mnemonic guides to the complete forms that must be learned from the repeated practice of construction under the guidance of proficient monks. However, most of us seldom recognize the karmic or ritualistic nature of our actions. Knowing only verbally, such people never accomplish anything very beneficial.

Carl Jung’s Mandala and Its Relationship to Art Psychotherapy

Carl Jung's Mandala And Its Relationship To Art Psychotherapy The Swiss psychiatrist and psychoanalyst Carl Gustav Jung asserted that the mandala, or, more generally, a circular art form, had a comforting and centering effect upon its maker or observer. He wrote in 1973,

The pictures differ widely, according to the stage of the therapeutic process; but certain important stages correspond to definite motifs. Without going into therapeutic details, I would only like to say that a rearranging of the personality is involved. A kind of new centering. That is why mandalas most appear in connection with chaotic, psychic states of disorientation or panic. Then they have the purpose of reducing the confusion to order, though this is never the conscious intention of the patients. At all events, they express order, balance, and wholeness. Patients themselves often emphasize the beneticial or soothing effect of such pictures.

Jung applied the mandala in his own personal therapy too and thought it to be a visible statement of his psychic state at the moment it was created. As Jung considered the course of producing a mandala to be healing, he would also often construe symbolism appearing within the mandala. He used such descriptions as a bridge from the unconscious to the conscious. He stimulated his patients at the appropriate time in their therapy to learn to decode their own symbols, and thus used the mandala as a channel from dependency on himself, the therapist, to greater autonomy for the patient. Art psychotherapists these days often make use of the mandala as an essential instrument for self-awareness, conflict resolution, and as a foundation for various other art psychotherapeutic techniques in a variety of situations.

Art therapist Joan Kellogg describes the mandala as a still picture taken out of context from a moving picture of the life process of the person. She expounded the process of making a mandala:

Because of the intense focusing when working with the mandala, an altered state of consciousness, an almost hypnotic state may ensue. The mandala then works itself differently than one’s conscious desires. In a sort of biofeedback manner, one gives reign to that part of one’s self that is able to express the contents of consciousness. Then, on reflecting on the finished product, one participates critically.

Cognitively-oriented psychoanalysts occasionally shrink back from Jungian theory asserting that it is too complicated and difficult to understand and accordingly better left to the artistic and religious. Jung every so often has not gained the admiration he warrants among the more scientific schools of thought. The predicament of art psychotherapy has been to some extent similar to that of Jungian theory by reason of the limited amount of scientific research currently existing in such a moderately new field.

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Best Practices for Onboarding New Employees: Maximizing Success

Benefits of Employee Retention Strategies

Guide to Employee Onboarding Best Practices

Often new hires leave too early for an organization to enjoy a return on its recruiting investment. The relationship between manager and new hire is critical to retention and performance. Managers can unleash the energy of their new hires by engaging them in a series of structured, powerful conversations over the first few weeks. By focusing these conversations on six sources of power, managers can connect early and cultivate more productive, motivated, and committed workers. These are: power from relationships, passion, challenges, focus, balance, and intention.

New hires often come fully charged, excited about their new adventure, and filled with energy and potential. By tapping into that energy, knowledge and wisdom right from the start, you can maximize the new hire’s potential, extend the handshake, and fuel that energy well past the beginning of the employment cycle.

While recruitment continues to be one of the most costly human resource processes, its longer-term effectiveness is being eroded by high attrition. Hiring doesn’t stop with the job offer. Today re-recruiting your best people is as critical as hiring them in the first place.

Often new hires leave too early for an organization to enjoy a return on its recruiting investment. And if they stay, are they productive, engaged, loyal, and committed? Have they simply “checked in” or are they “tuned in” and “turned on” as well?

The relationship between manager and new hire is critical to retention and performance. To increase retention and build loyalty during that critical first year, start by building the relationship between new hires and their managers.

Unleashing the Energy: New Employee Onboarding

Unleashing the Energy: New Employee Onboarding Improving first-year retention, decreasing time-to-productivity, and building loyalty and commitment are directly related to how quickly managers develop quality relationships with new hires.

Managers can unleash the energy of their new hires by engaging them in a series of structured, powerful conversations over the first few weeks. By focusing these conversations on six sources of power, managers can connect early and cultivate more productive, motivated, and committed workers.

  • Power from Relationship. There is no greater predictor of retention and engagement than the quality of the relationship between new hires and their managers and colleagues. The closer these bonds, the more new hires trust management, the more they feel cared for and valued, and the greater their focus, productivity, and satisfaction.
  • Power from Passion. People are more passionate about their work when they use their talents and skills to work on tasks and projects that interest them in environments that are consistent with the ways they prefer to work. Managers need to recognize their new hires’ skills, honor their interests, and leverage their strengths.
  • Power from Challenge. People get excited about their jobs (and stay excited) when they learn and grow in ways that have meaning for them. Managers need to become better talent scouts, and recognize potential when they see it. They need to provide for continued development and challenge.
  • Power from Focus. People are more committed when they know what the organization is trying to achieve, and how they can contribute to those outcomes. Managers must help new hires learn to navigate; understand the purpose, mission, and objectives; and appreciate how their efforts serve those goals.
  • Power from Balance. People’s lives extend well beyond the workplace. They have families, friends, lovers, and children to care for. They have finances to manage and households to maintain. They want to stay vibrant and healthy. They want to play and have time for themselves. Managers must make room for new hires and their whole lives.
  • Power from Intention. Managers and their new hires must follow through to earn the commitment and loyalty they both want: What new skills will they develop the first year, and how? What new areas will they explore, and how? What relationships are important to establish? How will the manager or new hire flex to make the relationship work best? What results will new hires be responsible for? How will they be rewarded? What support will the manager provide? It takes more than talk-new hires need to see tangible progress.

Benefits of Employee Retention Strategies

Best Practices for Onboarding New Employees: Maximizing Success What does the organization get in return? Here are a few bottom-line results:

  • Improved first-year retention rates. Engaging new employees early in shaping their jobs, designing their development, and building relationships can decrease first-year attrition.
  • Decreased time-to-productivity. Encouraging managers to be clear about what exactly is expected, and discuss how well new employees are learning their responsibilities can decrease the time required for new hires to get “up to speed.” They will contribute more, and do so more rapidly.
  • Reduced recruiting costs. Convincing new hires that they made the right choice can result in an increase in recruits referred by recent hires. Some organizations attract 70 percent of their new hires from recent hire referrals, reducing recruiting costs significantly.
  • Increased productivity. Making it possible for people to do what they do best, allowing them to pursue their interests, and building meaningful relationships can lead to higher productivity, increased customer satisfaction, and enhanced profitability.
  • Brand development. The more your become known as a great place to work, as an organization that cares about its employees, the more easily you attract the best and the brightest.
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You Can’t Prove Anything About the Future

'Security Analysis' by Graham and Dodd (ISBN 0071592539) Venture investing plays an important role in entrepreneurship not only because financial resources are important to new ventures, but also because early investors help shape the ventures’ managerial and strategic destiny. Value investing is conceivably the most prevalent and durable style of investing.

However, despite its reputation, the theoretical foundations of value investing have developed little since the ground-breaking work of Benjamin Graham and David Dodd espoused in their classic Security Analysis (1934). They advise value investors to focus their attention on securities “which are selling below the levels apparently justified by careful analysis of the relevant facts.” They further encourage value investors to concern themselves with “the intrinsic value of the security and more particularly with the discovery of discrepancies between the intrinsic value and the market price.” In providing wide-ranging guidance for the estimation of intrinsic value, they write down that:

In general terms it is understood to be the value which is justified by the facts, e.g. the assets, earnings, dividends, definite prospects, as distinct, let us say, from market quotations established by artificial manipulation or distorted by psychological excesses. But it is a great mistake to imagine that intrinsic value is as definite and as determinable as is the market price. Some time ago intrinsic value (in the case of common stock) was thought to be about the same thing as “book value,” i.e. it was equal to the net assets of the business fairly priced. This view of intrinsic value was quite definite, but it proved almost worthless as a practical matter because neither the average earnings nor the average market price evinced any tendency to be governed by the book value. Hence this idea was superseded by a newer view, viz., that the intrinsic value of a business was determined by its earnings power. But the phrase “earnings power” must imply a fairly confident expectation of certain future results. It is not sufficient to know what the past earnings have averaged, or even that they disclose a separate line of growth or decline. There must be plausible grounds for believing that this average or this trend is a dependable guide to the future.

Variation in long-horizon security returns is governed by fundamentals. Reckoning the prospective yield by aggregating expected earnings over more than a few future years dominates existing approaches to measuring value. This analysis highlights significant opportunities for improvement in the relative-value metrics used by academics and practitioners. To determine the source of variation in future stock returns to various investment strategies. The book-to-market ratio is a comparatively poor measure of value and that much of its prognostic ability with respect to future stock returns appears to arise from other sources.

Investor Howard Marks Renowned investor Howard Marks (b. 1946) of Citibank, TCW Group, and Oaktree Capital Management at “Investor Series” interview with Oaktree founder and American investor Bruce Karsh at Wharton School, University of Pennsylvania:

There’s no such thing as analysis of what’s coming. We don’t know anything about the future, and you can’t prove anything about the future.

But if you’ve been in business and you’ve seen some cycles, and you’ve gained some experience and you’ve gone through those cycles with your eyes open saying “What are the implications of cycles for our behavior?”, then I think you can reach a point where you say, “You know what, it just feels like the power is in the hands of the issuers, not the buyers. It feels like there aren’t many sellers, just a lot of buyers. And the market is not acting in a disciplined way.”

We want to buy when the market in panicked, not when the market is sanguine. [Warren] Buffett says that “The less prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own affairs.”

When other people are optimistic, we should be worried. When other people are panicked, we should turn aggressive.

Comports with Sir John Templeton‘s famous dictums “If you want to have a better performance than the crowd, you must do things differently from the crowd” and “Invest at the point of maximum pessimism.”

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