Corporate Event At Grand Hyatt
akhileshwar.singh October 25th, 2007
Hi.
First of all I would like to Thank Vinod uncle for giving BD team an opportunity to attend a gathering addressed by Mr. Uday Kotak (Executive Vice-Chairman & MD).
Mr. Kotak spoke on the topic of “Managing Explosive growth: A Leadership Challenge ”
Our main motto was to find out how “Idea” are presented and sold on big stage and what we, as a BD person, can get out of such event, whether its getting some BD tips or learning something new, or just getting another perspective. It was a great learning experience for all of us.
We reached there on time, however, the real proceeding begun about an hour later. Anurag Sharma came to meet & greet us.
The hospitality was good.
The event was organized to launch a new product or proposition by the Kotak group, named, SALARY 2 WEALTH. It was interesting to see the logo used.
The event started with a brief on how “salary” has evolved over a period of time. Then it moved on to show how Kotak as a group has evolved from a Trade Finance concern in 1985 to financing car, home, insurance, investment and finally into a full fledged BANK.
The approach that they adopted to capture the market.
First of all this product targeted “salary” so they broadly segmented customer in Employer and Employee, then they explored the requirement of employee of different level (sr, jr, and middle) and employer and based on that they come up with their solutions(offering).
In essence, it is not something new that they were giving or launching, but just making sure that whatever they have is available to whoever needed it in a very smooth and easiest possible manner. Whether its home banking, or corporate salary (web based salary upload process), or investment guidance.
Finally Mr. Uday Kotak took over and delivered his lecture on the topic.
He shared his experiences through, what he calls, his SEVEN MANTRA.
He went on to explain how, money or salary or assets in any form remain idle which we need to channelize to help the economy grow, not just of the country, but of ourselves as well .. 
He talked about how Kotak started channelizing these ideal assets to turn into wealth at a time when the lending rate in the market was 17% and deposit rate was 6%(1985-86).
He also shared his experience on how he make the most of the market situation when car were in short supply(during 1989). He offered to make car available, if a customer is ready to get it financed by his firm.
He also outlined the importance of Institution over Individual. Giving example of Goldman Sachs and JP Morgan, he elaborated, that despite being a family owned business (when it started), these institution outweigh individual and emerged more strong and successful.
Here is his Seven Mantra:
1. Aspire for impossible but focus on detail.
Its very easy to get carried away and to be successful its very important that we dont allow it to happen.
2. Lesson of History & Get rid of baggage of history.
His view is very simple. History is to teach us and help us make a better decision but not to frighten us or for getting bogged down by it.
3. Raise Capital early than its needed.
4. Built a firm not an individual player.
Managing conflict between divisions and sub-divisions of the firm is an important challenge for leader’s of today..
5. The AND principle.
Simple, why to have one when we can have both.
Mr. Kotak said that he wont like to believe in the “or” principle but “and”. Not Scale or Quality, rather, Scale and Quality.
6. Confidence & Conviction Vs. Exuberance & Foolhardiness.
There is very thin line that divide these two. And our success depends too much on it..
7. Marathon vs. Sprint or Corporate Humility.
The spirit, it seems, is something that is close to Mr. Kotak…
Thanks & Regards,
A.S.
