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» EKAM January 2020 7
EXPERT SPEAK – Rana Basu, Ex-ED/PCSG BOOK REVIEW

Ekam Team got in touch with Shri Rana Basu, Ex ED “The Art of Thinking Clearly”
PCSG to get his viwes on cash collection. It was indeed Book review by: Rishi Raj, Sr. Engineer, CLD
an insightful interaction. Generally, we consider

Ekam Team: Cash Ekam Team: That’s No. 2 – This point includes ourselves as rational thinkers,
Collection is an a simple & effective supply of mandatory however most of us would
have faced situations where
important issue with classification to proceed. spares. we could have chosen to act
which our organization Please explain Sir… in a better way than what
is dealing today. Based No. 3 – Time extension & we actually did. In fact, there
on your experience of Rana Basu: For Vertical LD settlement – case to are instances where faulty
last 2-3 years, how do 1, there are few things, case basis strategy need reasoning leads to repeated
you look at this this which are very important. to be made. mistakes of the same kind with the first best option,
issue? A team which First, realize cash dur as projects under provision and we are not able to find the remember the proverb ‘one
is working in this area, per contract and max till No 4 – In case or to improve the bottom line reason of the mistake! in hand is better than two
what 5 secrets, you synchronization. Don’t contractual performance in bush’. But, this actually
would like to share with wait till COD or PG Test. shortfall and other non- Ekam Team: What about Now, let’s imagine a situation harms the
them? Second, Deferred Cash fulfilment of obligations, future projects? where we can understand
related to activities should commercial settlement some of the major fallacies •“The Sunk Cost Fallacy-
Rana Basu: I think it’s a immediately be realized in need to be initiated Rana Basu: For future which hamper our Decision Investment of time,
making. Understanding
resources, energy becomes
subject which has many completion of activities. without any delay. projects, respective Sub these fallacies will definitely a reason to carry on, even
verticals…difficult to Third, Deferred activities Contract Tenders should help understand ourselves if we are dealing with a lost
share tips in 5 sentences/ should not be delayed and No. 5 – Engagement include one clause with better and think more clearly. cause”- The more we invest,
secrets to be completed as per of service provider for vendors responsibility on And, precisely this is what the greater the sunk costs
contract. Fourth, Stringent realization of withheld realization of payment at a this book titled “The art are, and the greater the urge
Ekam Team: Agreed. online monitoring needed amount from customer at a decided rate. of thinking clearly” by Rolf to continue becomes.
So what pointers, for invoice raising and decided provider charge Dobelli does. This book talks
you would like to verification. Ekam Team: Your closing about different kinds of errors •“Guard Against Chauffeur
highlight… No. 6 – To clear the book message in this interview and biases that influence Knowledge”- one shouldn’t
For Vertical 2, again, few of accounts and get one’s decision making ability. confuse the spokesperson
Rana Basu: Lets look at points which I would like to advantage in tax, write off Rana Basu: Two words – It introduces 99 mental with those who possess true
this whole thing from emphasize. cases need to be initiated which we need to really biases which are actually knowledge. How can one
two verticals. Vertical and approved understand in letter & a compilation of cognitive recognize the difference?
pitfalls drawn from author’s
There is a clear indicator:
1: Ongoing Projects. No. 1 – Earliest completion spirit – EXECUTION & personal experiences. True experts recognize the
Vertical 2: Commissioned of contractual obligations No. 7 – Strategic closure OWNERSHIP! limits of what they know and
Projects. (as much as possible). need to be done for what they do not know.

•“Those who disagree, with
proper arguments, shouldn’t
be kicked out of the
For him success and Such a leader’s promised land. They should
failures are but two sides charisma is be brought to the table’-
of the same coin. He such that his Groupthink is a big fallacy
doesn’t get elated with very presence and must be deliberately
success, nor dejected by is inspiring; warded off.
failures. He can maintain people around
equanimity; equipoised in can feel serenity, •“Survivorship Bias -
all circumstances. compassion Why you should visit
and love. He Each of the mental bias cemeteries”- Triumph is
For him differences in is capable of has been explained in a more visible than failure
capabilities, capacities transforming form of chapter supported and it generally leads
and competencies are others by simply with anecdotes for easy us to systematically
like individual details being a role understanding. I’m listing overestimating the chances
below some of my favourite
of succeeding.
of scenery, that when model. He can picks from the book; each
put together, make the lead effortlessly statement presented here Each of the chapter makes
scenery beautiful. He without depicts a bias/error in our an interesting read and
can effectively integrate dominating and thinking process: connects with plethora of
differences and utilize is often felt, issues whether it is about
its synergy for achieving seldom seen. •“If your only tool is a personal problems, business
Once this perspective us. Kabir said “When I am, results. He can enjoy hammer, all your problems negotiations, managing
takes hold, the person God is not; When God the company of people His holistic perspective will be nails”. Only if one has personal finance or merely
becomes Self-driven. is, I am not”. Therefore, and his aloneness, enables him to sacrifice a broad knowledge base, an working out what we really
His perception broadens a Self-realized leader too, which he uses to his comforts and gains individual shall not be able to want in life.
from limited to that of views things in oneness reflect, contemplate and for higher goals. Inspired analyse an issue from diverse
wholeness. There is a and desists separation meditate. by self, he abstains from perspectives. About the Author
paradigm shift; there’s in any form. He doesn’t selfish motives and ROLF DOBELLI, born in
no falling back. While feel others as separate The leader who serves remains humble and •“Gaining something will 1966, is a Swiss novelist,
looking and acting from him. From him rather than expects to be humane. make you happy, but losing writer and thinker. He
from Self, one then, flows love, humility and served is intrinsically an the same thing will make you received his PhD for a
persistently demonstrates compassion towards all authentic person as his A leader inspired much more distressed”- dissertation in philosophy
and projects the true without discrimination for actions follow his words. by his true Many of us operate from from the University of St.
loss-aversion point of view
Gallen, Switzerland. He is
nature which is of he cognizes the divinity He is able to demonstrate nature, the Self, i.e., fear of losing out is more the founder or co-founder
oneness, harmony and within and in others. His total transparency in becomes truly prominent than excitement of several companies and
love towards one and knowing of the absolute character and behaviour, authentic, Self- of achieving something. This communities, including:
all. This is discernible in and relative truths enables being the same inside-out. actualized and hampers our risk taking ability WORLD.MINDS, a
one’s thoughts, words him to absorb the extreme Since his view is impartial complete in all and pushes us to be in our community of the leading
and action. As the Self dualities of pleasure and and whole, his decisions respects. comfort zones. personalities from science,
becomes apparent, pain emanating from are rooted in fairness, culture, and business. He
the influence of ego happenings, events, enabling him to dispense Acknowledgement: •“Whenever people think has written many novels and
diminishes. This is the relationships and dynamic justice unequivocally. Speaking Tree, The about an offer, they become works of non-fiction.
God-experience within business situations. blind to alternatives”- It’s
Times Of India a human tendency to go