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Sumana Rao

Week 1 on HBS Campus - Key takeaways

My week at AMP was amazing! Arriving at Tata Hall on a Sunday, I was pleasantly surprised by my cozy room filled with case studies and books, setting the stage for an intensive learning experience. Tata Hall, a gift from Ratan Tata, an AMP alumnus and former chairman of Tata Sons, is a beautiful building that exudes academic excellence, inspiring me to dive deep into the marathon of learning ahead.





We were welcomed by Cynthia Montgomery, the Chair of the AMP Program at HBS, who introduced the program's purpose as educating leaders who make a difference in the world. She went on to explain the learning cycle, which included individual preparation of cases, learning group discussions, case discussions in class, personal reflection, and working on a personal case. The learning group becomes a personal board of advisors.


During the opening session, we were reminded of the story of the Professor and the Zen master. As a professor sought to learn about the practice of Zen, he arranged to meet with a Zen master and started talking to him about Zen. However, instead of explaining more about Zen, the Zen master proposed they have tea. As he poured tea into the cup, the Zen master continued to pour until it overflowed into the saucer and onto the table. The professor cried out for him to stop, but the Zen master calmly explained that the overflowing cup represented the state of the professor's mind - too full to take in anything new. This story served as a reminder to approach the learning experience with an open mind and a learning mindset.


During the week, we delved into getting to know our living groups. I was thrilled to find out that my group was made up of amazing leaders from seven different countries and eight distinct industries. In our personal leadership journey sessions, we shared our experiences, and I learned that our journeys are never linear - there are always ups and downs. It was a valuable reminder to embrace the journey.




To reinforce teamwork, we participated in an Everest Simulation exercise, where we worked together to reach the peak. This experience taught me the importance of balancing relationships, processes, and outcomes.


We gained valuable insights into our individual and team strengths through the Kantor survey, and furthered our knowledge by reviewing 16 cases, engaging in group discussions, and applying the learnings to ourselves and our organizations.


Throughout the week, we had the privilege of learning from an exceptional group of professors. Dr. Krishna Palepu taught us about fostering a winning culture that is beneficial towards driving sustained superior performance in the organization and walked us through employee motivation models. We also had the opportunity to learn from Prof. Nancy Koehn, a historian and the author of 'Forged in Crisis,' who shared inspiring leadership styles from leaders such as Ernest Shackleton, Abraham Lincoln, and Howard Schultz.


Prof. Carl Kester imparted valuable accounting principles, while Prof. Cynthia Montgomery's case studies focused on evaluating factors that affected profitability in specific industries. The objective was to provide insights that could inform decisions related to entering or expanding capacity in a given industry. Her approach viewed strategy as a system of advantage, emphasizing the importance of developing a unique competitive position in the market. Prof. Marco Iansiti provided insights into creating a platform firm, and Prof. Tushman emphasized the importance of leading innovation and strategic change through organization architecture. Additionally, Prof. Youngme Moon taught us about marketing strategy and creating value.


Our Program Director, Vicki Good, and her team arranged an incredible dinner at the Harvard Club of Boston, which was both inspiring and humbling. We also had a chance to tour the Harvard campus and participate in networking sessions throughout the week.




Some of my key takeaways from the week


Leadership


  • Having a clear purpose and aligning everyone towards it is important. It gives you the energy to overcome anything that comes in your way.

  • Creating a strong company culture is crucial for higher ROI, sales growth, and cash flow.

  • Effective leadership requires constant learning and adaptation.

  • Prioritize winning the battles that matter to your key stakeholders, rather than trying to win every battle. Focus on mission-critical things that matter.

  • Emotional control and awareness are essential for achieving success as a leader.

  • Utilize organizational levers like reward systems, culture, job design, performance management, and resource allocation processes to drive employee engagement and improve overall organizational performance.

  • Self-care is important. Set time to meet with yourself to draw on your inner strength to tackle external challenges.

  • Think about how you and your organization measure success. Are these the right metrics you need for long-term success?


Marketing & markets as ecosystems

  • Understanding markets as ecosystems can help identify opportunities for growth and navigate the competitive landscape effectively. By prioritizing customer value, your organization can identify opportunities for collaboration, innovation, and differentiation that will ultimately drive growth and success.

  • It's important to know when to compete and when to collaborate with your competitors. By identifying your unique strengths and capabilities, you can position yourself in the market to create more value for customers and differentiate yourself from your competitors.

  • Collaborate strategically: Collaboration can be a powerful tool for creating value for your customers and your organization. By identifying areas where your organization can collaborate with your competitors, you can create new solutions that are more innovative, efficient, and cost-effective.

  • If you have a valuable resource or capability that sets you apart from your competitors, sharing it strategically can set the industry standard and establish your organization as a leader in the market. By doing so, you can create a competitive advantage that attracts the best talent, builds trust with customers and partners, and drives long-term growth and success.

  • The goal should always be to create a win-win situation for all players in the ecosystem. Always consider the best interests of the category and be mindful of not causing value destruction.

  • Think long-term: Building strong, sustainable relationships with your competitors is key to long-term success. By shifting from a zero-sum game to a win-win mindset, you can create more value for all players in the ecosystem, which will ultimately benefit your organization as well.


Innovation


Strike the balance between exploiting current resources and exploring new opportunities for growth and innovation to remain competitive and adapt to changing market conditions.


Strategy


Strategy is about making choices about what to do and what not to do in a way that is most aligned with your long-term goals. It’s a system rather than isolated actions. Sometimes, these choices may be difficult in the short term, but they will lead to better outcomes in the future. Once you make your choices it is about aligning all your resources towards your goals while continuously learning and improving. A well-executed strategy can help you create a competitive advantage, help you differentiate yourself in the market, create value for your customers and achieve sustainable growth for your organization.


Finance


In business, it is important to remember that any strategic decision has financial implications. Gaining a competitive advantage often requires investment and is not self-funding. Additionally, inflationary growth can increase financing needs, adding to the financial burden. It is crucial to have a forward-looking approach even if the business is profitable every year. Neglecting financial management and cash flow can lead to financial distress.


Team work


In a team environment, maintaining a balance between relationships, outcomes, and processes is essential for achieving success. By giving equal attention to building positive relationships, achieving desired outcomes, and following effective processes, teams can function more cohesively and achieve their goals more effectively.


Despite the jam-packed schedule of learning sessions that left me tired, I gained valuable insights and perspectives and made some great friends that left me feeling invigorated and ready to tackle any challenges ahead. With renewed enthusiasm, I'm excited to dive into the case studies planned for next week.


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