Merry Christmas To All

Merry Christmas To All

LOB Exam

One of the longest exams I have given. There were 2 questions
1. We had to create a balance sheet and income statement with all ratios given.

2. We had to forecast balance sheet and income statement for future year and answer question for three scenarios

The exam started at 8 till 4 pm, 8 hrs with only 2 breaks. I was able to finish just in time.

GreenHills

This weekend I had gone to GreenHills along with Anurag, Mohit, Rajesh, Neha and Shwetha to do some shopping.  We get  cheap pearls, Phillipines is famous from South Sea Pearls. The pearls are cheaper in Green Hills. There are also many varieties of pearl. Its 10 kms from Makati. Its really different from Makati. 


We really had to negotiate the prices, the shopkeeper asked for 1200 for a pearl necklace, we reduced the price to 800.

There is also a Cinema Hall in the GreenHill Shopping Mall.

 There is also a good food court, where we get Halal food. As there are many Muslim shop keeper's. First time I am seeing such a mark outside a restaurant Feels good.

Waiting outside for the girls, who are shopping everything,

While leaving it was already 7 pm, In Phillipines there is a line for taxi and standing in a long line is really irritating. So we had a tough time getting a taxi. Finally, 6 of us stuffed inside a taxi.

Overall, the experience was good.

2010 pictures

Negotiation skills

Venue: SGV, 3rd floor Time: 9.30 30th November
Case: Water Hyacinth.

We were COB and had to negotiate with Goverment of San Latino for a power project. The core technology and selling point for COB was Water Hyacinth.

 We were  negotiating on
1. Amount of payment for Implementaion of plant.
2. Time period of payment.
3. Transfer of technology.
4. Completion- dead line of project.
5.Profit Sharing

This project was important for both of us. They were adamant that they have maximum 50 million loan for all projects and they can give us only 40 million , for which we disagreed as the cost was coming up to 50 million
They wanted us to operate the plant. We had the advantage of possession of technology. We were assuring them that this project will prove to be a cost effective in the long run.
We broke the negotiations three times for refining our own strategies.

After lots of head-ons negotiation , these were the agreed terms

1.Implementation was agreed for 46 million.
2. 50-50 partnership for operations.
3. Every year price regulation by government for the betterment for everyone.
4. After 10 years, transfer of technology.
5. Delivering on or before deadline.

Learnings:
We need to be flexible with our terms on other's demand. We should show them the big picture.
Both parties are in the table to discuss something and get maximum gain from the meeting. There are no losers and winners in negotiation.