Leadership....
Today I had the first hand look at a person whom I have seen in TV and read in papers. Its Mr. Subir Raha, CMD of ONGC. He gave a lecture on "ONGC: Strategy and Initiatives". Though only the 2nd yearites were invited to the lecture, I gate-crashed into the lecture. It was a good one. Now, dont ask me what I learnt from it but the man himself inspired me a lot. He gave a brief history of the company and how he catalysed the turnaround of the company in the year 2000. He gave three strategies that ONGC follows:
1) Monetise assets
2) Assetize money
3) Mitigate risk
He also talked about how his company took over MRPL (Mangalore Refineries) shrewdly.
He said that when he took over ONGC as a CMD resigning the post of Chairman in IOC, ONGC was in a crisis and what lacked was the motivation and hope in the employees. He told us that a CEO should bring back the confidence of the employees and that everyone should take pride in what they do. A team is effective only when every member of the team feels he/she is an integral part of it.
When asked why he chose to remain in ONGC, a PSU which does not even give him such a salary so that he can buy a Hyundai Accent, he smilingly said "Its the freedom that is given to any manager in ONGC that attracted him. Moreover, at the end of the day there is a kind of satisfaction that you had the opportunity of turning around a company, which McKinsey predicted in 2000 that it would shutdown in 2-3yrs, into a Fortune 500 company!"
Such are the traits of a leader....
1) Monetise assets
2) Assetize money
3) Mitigate risk
He also talked about how his company took over MRPL (Mangalore Refineries) shrewdly.
He said that when he took over ONGC as a CMD resigning the post of Chairman in IOC, ONGC was in a crisis and what lacked was the motivation and hope in the employees. He told us that a CEO should bring back the confidence of the employees and that everyone should take pride in what they do. A team is effective only when every member of the team feels he/she is an integral part of it.
When asked why he chose to remain in ONGC, a PSU which does not even give him such a salary so that he can buy a Hyundai Accent, he smilingly said "Its the freedom that is given to any manager in ONGC that attracted him. Moreover, at the end of the day there is a kind of satisfaction that you had the opportunity of turning around a company, which McKinsey predicted in 2000 that it would shutdown in 2-3yrs, into a Fortune 500 company!"
Such are the traits of a leader....
posted by Rajesh @ 10:27 AM
2 Comments:
At 6:20 AM, July 17, 2005,
Anonymous said…
Mr Subir Raha is country’s second most influential Oil man: Upstream survey
April 22, 2005
The internationally acclaimed oil and gas journal, Upstream, has adjudged ONGC’s C&MD Mr. Subir Raha as the second most influential oil man in the country, in a survey titled India's Top 10 Oilmen.
This detailed survey was carried out amongst 270 top oil men across the country and also included foreigners who are working in the Indian Oil industry.
In the list of top ten, Mr Subir Raha appeared at the second spot just after India’s Honourable Minister of Petroleum and Natural Gas Mr. Mani Shankar Aiyar, who has been identified as the undisputed leader in the prestigious list. Incidentally, Reliance’s Mukesh Ambani has appeared at the number three spot while Additional Secretary in the Ministry of Petroleum, Mr. M S Srinivasan, appears at number four.
This special survey, published in its April 15 2005 edition, has given a detailed profile of Mr. Raha in there page ‘head to head’ and has acknowledged him for his unparalleled role in transforming ONGC within a short span of just three years. He has also been credited with the turnaround of ONGC’s sister concern MRPL, whose success today is a case study in growth. Not only this the magazine has lauded Mr. Raha for being an inspiration for his counterparts in the industry.
"Subir Raha has dragged ONGC often kicking and screaming, into the 21st century," says Upstream.
The list of the Upstream magazine also includes Mr Nigel Shaw of British Gas, who has appeared at number five and the Chairman of IndianOil Mr. Sarthak Behuria at number six. Mr. P M S Prasad, president of Reliance figures at seven, while Mr. R S Butola of OVL, another ONGC subsidiary is at number eight. At the number nine spot is Mr. Atul Chandra, Advisor, Reliance, while Shell’s chief in India Mr. Vikram Mehta features at the tenth spot. ONGCReports brings to you the detailed report:
India's world player
Courtesy: Upstreamonline.com
Oil & Natural Gas Corporation (ONGC) boss Subir Raha has overcome many hurdles in his drive to expand and reform India's upstream giant since taking the helm in May 2001.
However, the chairman and managing director still has much to do to establish ONGC as a world-class corporation. Its decision-making is still slow and many of its business practices are old-fashioned and regarded at times as extremely frustrating by industry players.
"ONGC has problems with its DNA and anatomy. Raha should change them first if he wants his company to be a truly international-class organisation," says an old friend of the ONGC boss, who now has a senior role in rival Indian Oil Corporation, another state giant where Raha spent 30 years before the government handed him the ONGC job.
Raha has spent a great deal of time and energy in trying to change the mindset of ONGC's management team. He is a good communicator and a tough leader and it is little wonder therefore that thousands in India's oil and gas scene look upon him as a role model.
"He takes no nonsense, talks no nonsense and allows no nonsense," says one ONGC director. "He works hard and long hours and expects all others to do the same. He works as if there is no tomorrow."
A prominent Bombay-based US oilman admires Raha for bringing about "so many refreshing" changes to ONGC's dealings with foreign contractors. "They now return phone calls, talk well and take decisions faster than before," he says.
He also believes Raha has brought about "a huge change in the combined mindset of ONGC".
ONGC is a Navratna, one of India's nine top state enterprises that enjoy extensive autonomy.
Raha has often exercised this option, unlike some of his counterparts at other Navratnas, who prefer to gain government approval even when they do not need to. "Most bosses of state enterprises in India are like old-fashioned bureaucrats with no appetite for risk or innovation," says New Delhi business consultant VB Gupta. "Raha is evidently an exception. He takes a lot of risk and loves to innovate and experiment."
Raha routinely faces tough questions from the government and members of the two houses of India's federal parliament on practically every decision taken by himself or his board. However, ONGC has attracted more attention than most since he took over as chairman.
"That is because our boss goes ahead and takes a decision if required in complete disregard to opposition or criticism, once he is convinced that what he thinks is in the best interest of ONGC," one ONGC director says. "He is never afraid of controversy or criticism. He does not play to the gallery."
One former ONGC chairman adds: "I think Raha is absolutely brilliant and a man with a tremendous vision and boundless energy, but sometimes I find he is very clinical and too distant in his dealings."
He says Raha should show more emotion in his day-to-day work, but others do not agree. "Everybody in ONGC loves attending the chairman's parties. He is a great host and is always the first one to hit the dance floor and the last one to leave," says an ONGC asset manager.
"He is in a great hurry to transform ONGC into a truly world-class company. His emotions are all there in the dreams and visions he has for the company. He lives and dreams only ONGC."
ONGC executive director Ashoka Kumar Gupta, who is responsible for the Mehsana onshore oil and gas fields in western India, describes Raha as "inspirational". "He has pulled us all up into a new orbit of excellence and high ambitions," he says.
Raha is fiercely private when it comes to his home life. He rarely talks of his interests outside work and is also religious. He is a Hindu in his philosophy and outlook towards life.
He is also a great admirer of independent India's first prime minister, Jawaharlal Nehru, the statesman better known as the founder of modern India.
This month, Raha took his first proper holiday in three years, but that too was very short and was only to help nurse a back pain.
"How can I take holiday when there is so much to do?" he told his colleagues on the ONGC board recently.
At 8:34 AM, July 23, 2005,
Anonymous said…
Hey Rajesh
u seem v inspired! way to go !
aavi
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