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The short answer is a “system failure”. The main culprit is the board of directors then Rbi itself apart from auditors of both RBI and external auditors. The unseen enemy of all Banks/NBFC in India is FinMin and the political leaders of all parties. The corrupt officials from FinMin are misusing their position to further the interest of privileged few. In fact, Congress and former F.M. Mr. Chidambarm had messed up the entire system from F.I to exchanges. SEBI, NSE, BSE. If one will remember that Chennai stock exchange which was started with much fanfare and was headed by a close friend of Chidu and then CMD of BoI had made losses of Rs.800 crores. But former F.M. Chidambaram was so powerful and without initiating any inquiry he quietly closed the exchange. Even though Mr. Chidu is not in power his trusted men are in high places in FinMin, SEBI, NSE and in the judiciary to some extent. So he and his son get out of so many cases without a scratch. All in all BJP Govt. has failed miserably to tackle the menacing problem of rampant corruption at all levels at FinMIN, SEBI, NSE FII. NBFC. BJP has no stong will to act against auditors who are supposed to safeguard the interest of all stakeholders. ( It is alleged that the big 4 audit firms employ persons related to Govt. secretaries other dignitaries as auditors/officials and are paid a high salary and posted in foreign countries. ) Its time the present honest FM throws out CMD of NSE, SEBI and act tough against banking division of FinMin, RBI and ban external auditors from 3 years to 10 years including imprisonment. Its high time discipline is brought at all levels. Will Mr. Modi and F.M. will act though?

It's a great question as it's so relevant to any business.I'll answer it from the point of view based on a BIG why.The purpose of measuring is to improve on a number or to check if the number is what it should be. Another reason is to find opportunities and weaknesses so you can introduce strategies to improve the numbers.When you grow a business you do so by improving on one or more numbers. The growth comes about by a change in an operation or by introducing a strategy as the catalyst for change.It's too detailed to go fully into it (here) and to get bogged down in specifics with numbers when you start to measure as a lot of business owners can do, losing sight of the eagle's eye view of a business.Using simple principles, that apply to the majority of businesses, here's my philosophy on measuring and KPI's in small to medium businesses...A business has three primary functions...To win salesTo do the work from the sale (I call production)Get paid for the sale (cash received)That means we need to measure all three functions.How to measure all three I won't go into depth with here or even the deeper aspects of measuring production as it takes a lot of time.Based on the above three I believe they need to be measured every week so you are monitoring the supply (production) and demand (sales) in a time frame conducive to doing something effective.The three areas above I relate to being like a three legged stool where the leg length (each week) is measured in dollars. When one 'leg' becomes much longer than another it usually requires a new action at management level.Generating sales can be measured as a dollar figure each week. That's a critical outcome based on of the number of qualified leads each week (and previous week so) as well as the conversion rate from lead and/or inquiry to sale. Conversion rates usually need to be measured over longer periods of time for the majority of businesses, and not weekly.With a dollar figure of sales acceptances received in a week the next figure to measure is the dollar value of production work carried out.Notice I say production work value (assuming we're measuring a service or manufacturing business).This dollar figure needs to be measured for the amount of work performed by technical staff in the week. The reason being is that you pay wages each week and so you want to know your ROI each week, which is work carried out irrespective of whether it's finished or not (ready to be invoiced).The gross margin can then be calculated based on the cost of labour (employees in production), materials cost (if relevant) and the dollar value of work completed. This gross margin figure is the most important figure in any service or manufacturing business as it directly relates to the net profit margin.The third leg of measuring is cash flow coming into the business or cash received.Now you have the overall business' KPI's for all areas with 5 figures measured each week...Number of new leadsDollar value of new salesDollar value of production workGross margin on production workDollar value of money receivedThese five major KPI's then lead to individuals KPI's.For marketing people it's the number of leads generated each week averaged over a month.For salespeople it's their own individual conversion rates (measured monthly). Their sales prices (when won) need to have a minimum gross margin on them too.For Admin it can be lead to quote conversion rate so they "deselect" a certain percentage by qualifying them on phone calls.For production people it's gross margin on each job (and percentage of time recorded each week).For accounts staff it's number of weeks of weekly turnover as an average calculated from looking at the total receivables.This is a general approach to great management as the measuring all relates back to the most important number in a business... The net profit margin.These numbers also involve nearly all employees too.Measuring is one of the three essential management skills...MeasuringSystemsPeople skillsThe full power of measuring I believe is only achieved by relaying numbers back to all employees in a weekly team meeting. Discussing numbers in meetings that are relevant to people in their department gets buy in. That leads to discussing the subject of systems which staff buy into because the numbers highlight the lack of systems and inconsistencies.Then your business starts becomes very system orientated with happy and productive team members. That's when the most important KPI of all - the net profit margin, increases dramatically (some clients have tripled their business' net profit in 3-7 months or added $100,000 or $492,000 to their net profit figure (without any increase in leads).That's when KPI's become fun!There are more KPI's we look at with clients in our Academy of Business Mastery, with tailoring of KPI's however the above is an excellent example of the broad but powerful way to think about KPI's to leverage your way out of self employment and into business ownership where working in the business at all becomes optional because you have a happy, productive team who love their workplace environment and don't mind you not being there.The above is best introduced using a 7 step formula as an order of implementation. That's all covered with actual measuring tools to measure all aspects of any business with training and support on all 7 subjects of the 7 steps to 'business certainty'.Find out more with free strategies and training refined with over 1,000 businesses over 18 years. http://profittrans4mations.com

I thought back through my major job changes. Six out of six changes involved networking. My first “real” job after college was obtained by replying to a newspaper job posting - but that was in 1984, so let’s skip that…Here’s a rundown of how networking resulted in my job changes:1989 - the company I was working for (in Ohio) lost a fairly large government contract to another company. The second company knew I was a project manager on that contract and they proactively reached out to me to bring me in for an interview. Perhaps not networking from a traditional standpoint, but I did not seek them out - they sought me out based on my reputation and previous role.1996 - at a conference in San Diego, I am walking with a colleague from a company in Pennsylvania. He asks me how my job is going. I confide in him that the company is struggling and may be acquired. He mentions that his company is growing and tells me to send him my resume. A few weeks later, I had an interview and shortly after that, had a job offer that I accepted.2006 - after more than 20 years in the consulting world, I had my first layoff. A few days later, the President of a company who was a subcontractor on one of my projects called my (previous) employer to talk to me. The receptionist informed the him that I was no longer with the company. Fortunately he knew how to contact me through other channels. He called, scheduled an interview with him and the CEO, and I had a new job within six weeks of my layoff.2010 - while finishing my doctorate, a former colleague from my 1996–2006 employer called and said he had an interesting opportunity with a company in the DC area. I wasn’t looking for a new job, but the new opportunity was too good to pass up so I took the job and made a second geographic move.2012 - due to funding issues, I dealt with my second lay-off. This time, I decided to take some time off and did some independent consulting with 3–4 clients for about a year. I casually applied for a few jobs here and there and put the word out that I was in the market. A lady from our local economic development organization called me and said she knew of a COO position with a company (about one mile from my house). I sent my resume and had an offer within weeks.2016 - with a LinkedIn network of 30,000 first level connections, I get a lot of inquiries from recruiters, mostly unwanted and inappropriate. However, a recruiter approached me about a COO position with advancement opportunities to the CEO position. It was too good to pass up, so I interviewed and was selected. Now I am in Utah.I consider all of those job changes as involving networking. None of the changes occurred as a result of me applying for some random job posting. All involved a personal connection or a network connection (like the last with LinkedIn). Who knows if the 80% statistic is correct. Probably depends on your definition of networking. In my case, if you ignore my first job, 100% of my job changes were a result of some form of networking.