Karvy Private Wealth: management

Thursday, 26 July 2012

Take Risk…Wisely

Uncertainties in life are always bound to occur and you must have experienced it in your career. But what concludes is how well you have handled these uncertainties. No matter how organized you are and how conveniently you have planned your wealth, there is always a risk of fluctuations in the market. These risks may come immediately or slowly but it can surely harm your wealth to a large extent. Be it for you or your family, risk needs to be taken care.

Securing yourself with that risk is always a wise step and a worthy decision. You cannot predict how the markets will react or whether you will be able to manage that situation, hence, its better you create a backup plan for it. For each and everything you have opted for and you depend on, getting insured for it is a must. If you do not have a backup plan than you have no other option than just sitting and waiting for something good to happen. Risk may be many and their consequences may be harsh, but getting rid of those consequences is important. Believe it or not, you can never predict the future even after having a knowledgeable go through about the markets. A regular check is needed.

Other risks like policy violations, legal infringements, market deterioration and personal imbalances may harm your investments and effect your growth. Hence, you need to keep everything in mind and start taking firm steps so that you secure your wealth effectively. Manage your risk wisely because you never know how much you can suffer if you are careless.

Talking about Risk management, Karvy Private Wealth offers a service that takes a complete view of various risks faced by the family/individual and to actively provides for the same. The service is intended to identify, quantify and mitigate these risks. Taking insurance cover is an important component of risk management. However, often families face the unidentified issue of insufficient cover, outdated calculations of cover requirement, leaving some risks uncovered (e.g. property). Hence, we believe that having some insurance policies is not same as having done careful risk management.

To know more:

Visit our website: http://www.karvywealth.com

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Tuesday, 12 June 2012

9 Management Lessons by Dhirubhai Ambani

Dhirubhai Ambani was not an MBA. He just believed in what was happening around and tried to understand the scenario. This management lessons might be theoretically meaningful for some people but practically what he explained was more of what he actually applied. Following are some of the key management lessons he believed:

1. Roll Up your sleeves and Help: Do not wait for the infrastructure to be created to support any operation. Go out and built yourself.

2. Be a safety net for your team: Always be on the side of your company whenever they need you. It is themost crucial part for any organization.

3. The silent Benefactor: Help is called an Help when it is done for the beneficiary of the benefit seeker and not the benefactor. Help and forget.

4. Dream Big but Dream with your eyes open: No work is impossible if you manage it to do with full passion. Whatever you do, do it as if it is made for you.

5. Leave the Professionals alone: Let the professionals do their work. They are well equipped and well deserving. Don't add to their problem and instead contribute by not questioning their ability.

6. Change your Orbit constantly: When you will change orbits, you will create friction. The good news is that your enemies from your previous orbit will never be able to reach your new one. By the time resentment builds up in your new orbit, you should move to the next level. And so on..

7. The arm-around-the-shoulder leader: Be a person who is easily approachable and frank. The person will be able to explain it to you only if you get into his comfort zone.

8. The Dhirubhai theory of Supply Creating Demand: Follow the market and from theer create a chain of supply within yourself.

9. Money is not a product by itself, it is a by-product by itself: Create opportunities and not money. Money will follow if the scope is huge and you built is to your ability.