Upskilling for Management Consultants in 2023

 Upskilling for Management Consultants in 2023

(Life Coaching Series)

Introduction

The field of management consulting in India is evolving rapidly, driven by the country's dynamic business landscape, the need for innovative solutions, and the constant demand for expert advice. To thrive in this competitive environment, management consultants must continually upskill themselves. This article explores the importance of upskilling for management consultants in the Indian context, the key skills and knowledge areas to focus on, and the various avenues available for upskilling.

The Evolving Role of Management Consultants in India

Management consultants play a pivotal role in helping organizations solve complex problems, enhance their operations, and drive growth. In India, their role has expanded beyond traditional advisory services to include digital transformation, sustainability, and addressing unique challenges specific to the Indian market. As businesses adapt to global competition and technological advancements, management consultants must stay ahead by upgrading their skills.

Importance of Upskilling for Management Consultants

Management Consultant too like any other role in the business arena can tend to become redundant with changing times. One needs to constantly move forward over the learning curve and adapt to the current and future needs of the market. Here are the main reasons for the same:

a)    Meeting Client Expectations: Clients today expect consultants to provide innovative solutions that align with the latest industry trends and best practices. Upskilling ensures that consultants can meet these expectations and deliver value-added services.

b)  Navigating Technology: The digital revolution has transformed the business landscape. Management consultants must understand emerging technologies like AI, data analytics, and blockchain to help clients harness their potential for growth.

c)  Cross-Functional Knowledge: Clients often require consultants to work across various functions such as finance, marketing, and operations. Upskilling in diverse areas equips consultants to handle multifaceted projects effectively.

d)  Competitive Edge: In a highly competitive consulting industry, continuous learning and development provide a competitive edge. Upskilled consultants are more likely to attract and retain clients.

Key Skills and Knowledge Areas for Upskilling

Staying updated with the latest trends is crucial for management consultants in India. Here are some of the latest trends and areas for learning in the management consulting field along with related courses that can help consultants enhance their expertise:

    1.       Digital Transformation: Understanding digital tools, data analytics, and emerging technologies is critical.

- Trend: Emerging technologies to leverage business possibilities and driving automation.

- Learning Area: Data Analytics, Artificial Intelligence, Machine Learning, Blockchain Technology.

- Courses: "Digital Transformation" by Coursera or edX, "Data Science and Machine Learning Bootcamp with R" by Udemy, "Blockchain Basics" by IBM on Coursera

    2.       Industry-specific Expertise: Depending on their niche, consultants should acquire deep industry knowledge to provide specialized solutions.

- Trend: Highly specialized services in each industry / domain with usually technology driven approach.

- Learning Area: FinTech, EdTech, AgriTech, MedTech, etc.

- Courses: "Healthcare Management" by edX or "Finance for Non-Finance Professionals" by Coursera

    3.       Soft Skills: Effective communication, leadership, and problem-solving skills are essential for client engagement and project success.

- Trend: Critical thinking faculties amidst changing environment.

- Learning Area: Communication, Leadership

- Courses: "Leadership, Organizational Culture, and Change" by LinkedIn Learning

    4.       Sustainability and CSR: Given the growing focus on sustainability in India, consultants should be well-versed in sustainable practices and corporate social responsibility.

- Trend: India is no more just competing with the world but is emerging as a leader

- Learning Area: Social Accountability, Corporate Governance, etc.

- Courses: "Sustainable Business Strategy" by Coursera

    5.       Regulatory and Compliance Knowledge: Staying updated on Indian business regulations and compliance requirements is crucial for providing sound advice.

        - Trend: Navigating changing government policies and regulations.

        - Learning Area: Courses on government affairs, regulatory compliance, and public policy analysis.

        - Courses: "Corporate Governance and Business Ethics" by edX

        6.       Cross-Cultural Competence: India's diverse business environment demands cultural sensitivity and an ability to work with clients from different backgrounds.

- Trend: Highly positive investment scenario in India.

- Learning Area: Cultural Motivation, Leadership, etc.

- Course: "Cultural Intelligence for Leaders" by LinkedIn Learning 

7.       Digital Marketing and E-commerce: India is emerging as a world leader across several areas and is also the largest market by demographics.

- Trend: The shift towards digital channels and e-commerce in a post-pandemic world.

- Learning Area: Digital marketing strategies, e-commerce management, and online customer behavior analysis.

- Courses: “Complete Digital Marketing” by Udemy

8.       Sustainability and ESG (Environmental, Social, and Governance): A triple bottom-line reporting is encouraged by business leaders worldwide and has become imperative for the corporate world to stay competitive as well as demonstrate their contribution towards a sustainable economy.

- Trend: Growing emphasis on sustainability, responsible business practices, and ESG reporting.

- Learning Area: Sustainability strategy development, ESG reporting frameworks, and green finance.

- Courses: “ESG Risks and Opportunities” by Coursera 

9.       Remote Work and Virtual Collaboration:

- Trend: The adoption of remote work and the need for effective virtual collaboration tools.

- Learning Area: Courses on remote team management, virtual communication, and collaborative software tools.

- Course: “Remote Work Essentials” by edX 

10.   Agile and Design Thinking:

- Trend: Agile methodologies and design thinking for innovation and problem-solving.

- Learning Area: Agile project management, design thinking workshops, and user-centric design.

- Courses: “Design Thinking Basics” by Simplilearn, “Agile for Beginners” by Great Learning 

11.   Cybersecurity and Data Privacy:

- Trend: Increasing concern over data security and privacy in a digital age.

- Learning Area: Cybersecurity fundamentals, data protection regulations (e.g., GDPR), and risk assessment.

- Courses: “Google Cybersecurty Professional Certificate” by Coursera, “Data Privacy Fundamentals” by Coursera 

12.   Supply Chain Resilience:

- Trend: The importance of resilient supply chains in the face of disruptions.

- Learning Area: Supply chain optimization, risk mitigation, and digital supply chain solutions.

- Courses: “Introduction to Data-Driven Supply-Chain Resilience” by edX 

13.   Diversity, Equity, and Inclusion (DEI):

- Trend: Emphasizing DEI in organizational culture and practices.

- Learning Area: DEI training, cultural sensitivity, and inclusive leadership.

- Courses: DEI online training courses by LinkedIn 

14.   Project Management:

- Trend: Hybrid PM approach and inclusion of automation.

- Learning Area: Automation Tools in PM, Emotional Quotient, etc.

- Course: "Project Management Professional (PMP)® Certification" by PMI 

15.   Risk Management:

- Trend: Proactive strategies, data privacy and AI in GRC.

- Learning Area: DEI training, cultural sensitivity, and inclusive leadership.

- Course: "Risk Management for Corporate Leaders" by edX

Avenues for Upskilling

a)       Formal Education: Management consultants can pursue advanced degrees or specialized certifications in fields like data science, digital marketing, or finance. Indian institutions and global online platforms offer various courses. 

b)      Professional Development Programs: Many consulting firms provide in-house training programs and resources for their consultants. These programs focus on industry-specific knowledge and consulting methodologies. 

c)       Online Learning Platforms: Platforms like Coursera, edX, and LinkedIn Learning offer a wide range of courses on business and technology topics. These can be accessed from anywhere in India.

d)      Industry Conferences and Seminars: Attending conferences and seminars can provide exposure to the latest trends and networking opportunities with experts in the field. 

e)      Mentorship: Establishing a mentor-mentee relationship with an experienced consultant can be highly beneficial for learning from real-world experiences.

Conclusion

These trends reflect the evolving landscape of management consulting in India and offer opportunities for consultants to specialize and provide valuable insights to their clients. To stay competitive and meet client expectations, it's essential to continuously update skills and knowledge in these areas. These courses cover a range of essential skills and knowledge areas for management consultants in India, helping them stay competitive and relevant in the evolving consulting landscape. Keep in mind that the choice of courses should align with your career goals and the specific needs of your consulting niche. Additionally, some of these courses may offer certifications, which can further enhance your credentials in the industry.

The role of management consultants in India is continually evolving, and staying relevant requires a commitment to upskilling. The Indian context presents unique challenges and opportunities, making it imperative for consultants to invest in their professional development. By acquiring a diverse skill set and keeping up with industry trends, management consultants can not only meet client expectations but also contribute to the growth and success of businesses in India. Upskilling is not just a personal investment; it is an investment in the future of consulting in India.

Disclaimer: The courses mentioned in the article are a result of online search for free or short courses and the author does not endorse any of the brands offering these courses.

Prashant Upadhyaya is a Strategy Consultant having about two decades years of experience with expertise in operational excellence, digital transformation and product management across several industry domains. He has handled over 200 clients and is also a published author. To know more about him, you can visit his personal profile: https://udyphy.com/ 

 

 

Induction and Grooming of Next Generation into the Family Managed Business in the Indian Context

Introduction:

Family managed businesses have long been a prominent feature of the Indian economy, contributing significantly to its growth and development. These businesses often pass down from one generation to the next, presenting both opportunities and challenges in terms of sustaining success and growth. The induction and grooming of the next generation into these businesses play a crucial role in ensuring a seamless transition while adapting to changing market dynamics. This essay explores the process of preparing the next generation for leadership roles in family managed businesses within the Indian context, and also provides a comprehensive list of "To Dos" to help them succeed.

Apart from this, a certain level of sophistication and an accurate perception is required to be a successful young leader. This can be achieved only via the right behaviour, attitude and critical skills.

While technical skills, education, and leadership qualities are critical, the day-to-day activities of a family managed business require a level of realism, substance, and conviction that goes beyond these attributes. Successfully integrating these qualities into the operations of the business is essential for sustainable growth, ethical practices, and long-term success.

Section 1: Must To Do’s

a. Induction Process:

Understanding the Business Foundation: The initial step is to ensure that the next generation understands the core values, history, and vision of the family business. This involves immersing them in the business operations, visiting production facilities, and understanding the supply chain and customer base.

Formal Education: A solid academic foundation is essential. It's recommended that the next generation pursue relevant degrees in business, management, finance, or other related fields. This formal education equips them with the theoretical knowledge required to complement their practical experiences.

Upskilling and Training: Continuous learning is vital. The next generation should attend workshops, seminars, and training programs in areas such as leadership, negotiation, communication, and market trends. This helps them stay updated with industry advancements.

Cross-Functional Exposure: The next generation should gain exposure across various departments, roles, and responsibilities. This broadens their understanding of the business ecosystem, fostering empathy and cooperation with employees at all levels.

Mentorship: Experienced family members and outside professionals can provide valuable guidance. Mentorship programs facilitate the transfer of knowledge, provide insights into decision-making, and prepare them for leadership roles.

b. Grooming for Leadership:

Ethics and Values: Instilling a strong sense of ethics and values is essential. The next generation should understand the importance of transparency, honesty, and fairness in business dealings.

Decision-Making Skills: Encourage them to participate in strategic discussions and decision-making processes. This develops their critical thinking and analytical skills, preparing them for leadership roles where tough decisions are a regular occurrence.

Risk Management: Exposing the next generation to risk assessment and management strategies helps them make informed choices and navigate uncertainties in the business landscape.

Innovation and Adaptability: Family businesses must evolve with the times. Fostering an innovative mindset and an openness to change equips the next generation to adapt to new technologies and market trends.

Networking: Encourage participation in industry events, seminars, and conferences. Networking with peers and professionals helps them gain diverse perspectives and insights.

c. "To Dos" before Joining the Family Business:

Upskilling: Pursue relevant academic degrees, certifications, and courses to enhance business acumen and industry-specific knowledge.

Volunteering: Engage in volunteering activities to develop empathy, leadership skills, and a sense of social responsibility.

Gain Exposure Elsewhere: Work or intern in other organizations to gain diverse experiences, learn different management styles, and gather new ideas.

Develop Interpersonal Skills: Hone communication, negotiation, and conflict resolution skills to effectively interact with employees, clients, and stakeholders.

Learn Financial Literacy: Understand financial management, investment strategies, and risk assessment to contribute effectively to business growth.

Stay Technologically Current: Familiarize yourself with emerging technologies that can drive business innovation and efficiency.

Cultivate Leadership Abilities: Take on leadership roles in extracurricular activities, clubs, or community organizations to refine leadership skills.

Networking: Build a strong professional network by attending industry events, workshops, and conferences.

Section 2: Behavioural Skills, Attitude, Critical Thinking, and Empathy for Nextgen Leaders

Behavioral Skills: Behavioral skills are essential for the successful integration of the next generation into family managed businesses. These skills encompass a range of interpersonal abilities that contribute to effective communication, collaboration, and leadership.

Communication: Strong communication skills are vital for conveying ideas, expectations, and instructions clearly. The next generation should learn to communicate with various stakeholders, including employees, clients, suppliers, and investors.

Conflict Resolution: Family businesses often face internal conflicts. Teaching conflict resolution techniques helps the next generation address disagreements constructively, preserving family relationships and business harmony.

Teamwork: Collaborative teamwork fosters innovation and efficiency. Developing the ability to work cohesively with diverse teams and leverage individual strengths contributes to a harmonious work environment.

Adaptability: The business landscape is subject to rapid changes. The next generation should be adaptable, open to new ideas, and willing to adjust strategies based on evolving market conditions.

Attitude: Attitude plays a pivotal role in the success of next generation leaders. A positive and growth-oriented attitude sets the foundation for continuous learning, resilience, and effective leadership.

Positive Mindset: Encourage a positive outlook towards challenges and opportunities. A positive attitude encourages creativity, problem-solving, and an optimistic approach to business endeavors.

Ownership: Instill a sense of ownership in the next generation. Taking responsibility for decisions and outcomes promotes accountability and commitment to the business's long-term success.

Resilience: The business journey is filled with ups and downs. Developing resilience helps the next generation bounce back from setbacks, learn from failures, and maintain perseverance.

Critical Thinking: Critical thinking is a cornerstone of effective decision-making and problem-solving. It involves analyzing situations objectively, considering various perspectives, and making informed choices.

Analytical Skills: Develop the ability to analyze data, trends, and market dynamics. This skill empowers the next generation to make strategic decisions based on factual insights.

Problem-Solving: Encourage a proactive approach to problem-solving. Equipping the next generation with critical thinking skills helps them identify challenges, assess alternatives, and implement effective solutions.

Empathy: Empathy is crucial for building strong relationships, both within the family and with external stakeholders. It involves understanding others' perspectives, emotions, and needs.

Employee Relations: Developing empathy towards employees fosters a positive work environment, boosts employee morale, and encourages loyalty and dedication.

Customer-Centric Approach: Empathy towards customers helps the next generation understand their preferences and needs, leading to improved customer satisfaction and loyalty.

Section 3: Being Realistic, Having Substance, and Conviction in Day-to-Day Activities of the Business

Being Realistic: Realism involves understanding the business's strengths, weaknesses, opportunities, and threats without bias. The next generation should embrace a practical approach to decision-making and goal-setting.

Strategic Planning: Set achievable goals and objectives based on a realistic assessment of the business's current state and market conditions. Avoid overambitious targets that could lead to disappointment or misallocation of resources.

Risk Assessment: Acknowledge potential risks and uncertainties. Being realistic about potential challenges enables proactive risk management, ensuring the business is prepared to navigate unexpected hurdles.

Resource Management: Allocate resources – financial, human, and technological – according to the business's actual needs and capabilities. Avoid overspending on unnecessary ventures or underinvesting in critical areas.

Having Substance: Substance implies depth, quality, and authenticity in the business's offerings, communication, and relationships. It's about delivering real value to stakeholders and maintaining a genuine presence.

Product/Service Quality: Emphasize the quality of products or services over superficial features. Building a reputation for substance ensures customer loyalty and trust, essential for long-term success.

Transparency: Maintain open and honest communication with all stakeholders. Transparency creates a foundation of trust, fostering strong relationships internally and externally.

Ethical Practices: Uphold ethical business practices that reflect the values of the business. Substance in ethical behavior establishes credibility and respect within the industry.

Conviction: Conviction refers to unwavering belief in the business's mission, values, and strategies. Leaders must have the confidence to stand by their decisions and lead with integrity.

Decisiveness: Make decisions with clarity and conviction. Indecisiveness can lead to confusion and missed opportunities. Trust in the decisions made and their alignment with the business's objectives.

Consistency: Demonstrate consistency in actions and decisions. A consistent approach instills confidence in stakeholders and maintains the business's reputation.

Long-Term Vision: Develop a long-term vision and stick to it, even in the face of short-term challenges. Conviction in the vision motivates employees and stakeholders to work towards a common goal.

Conclusion:

The induction and grooming of the next generation into family managed businesses in India are vital for ensuring continuity and success. This process involves a combination of formal education, practical experience, mentorship, and exposure to various facets of the business world. Equipping the next generation with a strong foundation in ethics, leadership, innovation, and adaptability prepares them to lead the family business into a dynamic and ever-evolving future. In the context of preparing the next generation for leadership roles in family managed businesses within the Indian landscape, behavioral skills, attitude, critical thinking, and empathy are as crucial as technical and business skills. These attributes enhance communication, collaboration, adaptability, and decision-making, resulting in effective leadership and sustainable growth. Integrating these qualities into the grooming process ensures that the next generation not only possesses the necessary business acumen but also embodies the values and ethics that drive successful family businesses in India. By nurturing these qualities, family businesses can build a legacy that thrives for generations to come. Incorporating realism, substance, and conviction into the day-to-day activities of a family managed business is pivotal for achieving sustainable growth and success. These qualities guide decision-making, shape relationships, and reinforce the business's credibility. While technical skills and formal education are important, it's the integration of these qualities that ensures the business's resilience, adaptability, and positive impact on its stakeholders. By embracing these principles, the next generation of family business leaders can uphold the legacy of their predecessors while navigating the complexities of the modern business landscape in India.

Contact the author Prashant A U who is a Certified Life Coach to know more on grooming your nextgen leaders!

Design & Development of Electric Vehicle Two Wheeler

Here's the video link for those who don't like to read:

Introduction:

The architecture of an electric vehicle (EV) two-wheeler system can vary depending on the specific design and manufacturer. However, here’s a general overview of the key components and their interactions in an EV two-wheeler system:

§  Battery Pack

§  Electric Motor

§  Motor Controller

§  Vehicle Control Unit (VCU)

§  Battery Management System (BMS)

§  Power Electronics

§  User Controls

§  Instrument Cluster

§  Regenerative Braking System

§  Communication Interfaces

The design and development stages for manufacturing an electric vehicle (EV) two-wheeler involve several steps that encompass concept development, engineering, prototyping, testing, and production planning. Here's a detailed overview of the typical stages involved:

Concept Development:

Identify the target market, customer needs, and market trends.

Conduct market research and gather insights to determine the product's features, performance, and price range.

Develop a design concept, considering factors such as aesthetics, functionality, and market positioning.

Design and Engineering:

Create detailed design specifications based on the concept, incorporating considerations like aerodynamics, weight distribution, and structural integrity.

Design the chassis, body, suspension, drivetrain, and other key components.

Use computer-aided design (CAD) software to generate 3D models and perform virtual simulations and analysis, including structural, thermal, and fluid dynamics.

Optimize the design to meet performance, safety, and regulatory requirements.

Battery and Powertrain Development:

Select the appropriate battery technology, capacity, and configuration based on performance goals, range requirements, and cost considerations.

Design and integrate the battery pack, motor, motor controller, and power electronics into the vehicle.

Perform system-level simulations and analysis to optimize powertrain efficiency and thermal management.

Prototype Development:

Build a functional prototype based on the finalized design and engineering specifications.

Source and integrate components from various suppliers.

Conduct extensive testing and validation, including performance testing, durability testing, and safety testing.

Refine the design and make necessary adjustments based on the results of prototype testing.

Regulatory Compliance:

Ensure the vehicle design complies with relevant safety and emissions regulations and standards.

Perform necessary tests and obtain certifications from regulatory bodies.

Address any design modifications or improvements required for compliance.

Manufacturing Process Planning:

Develop a comprehensive manufacturing plan, including processes for component fabrication, assembly, quality control, and testing.

Identify manufacturing equipment and machinery requirements.

Define production line layout and workflow, considering efficiency, ergonomics, and safety.

Supply Chain Management:

Establish partnerships with suppliers for sourcing raw materials, components, and subsystems.

Ensure the availability and quality of components to meet production demand.

Implement inventory management systems to optimize supply chain efficiency.

Tooling and Production:

Develop production tooling, including molds, dies, jigs, and fixtures.

Set up the production line and initiate small-scale production runs.

Implement quality control processes and inspection procedures at each production stage.

Monitor and refine the manufacturing processes to improve efficiency and quality.

Post-Production Testing and Validation:

Conduct rigorous testing on finished vehicles to ensure they meet performance, safety, and quality standards.

Perform functional testing, durability testing, and environmental testing.

Address any issues or defects identified during testing and make necessary improvements.

Launch and Market Entry:

Plan the launch of the EV two-wheeler, including marketing campaigns, distribution strategies, and after-sales service.

Establish sales and service networks.

Monitor customer feedback and make continuous improvements based on user experience.

Conclusion:

It's important to note that the design and development stages may overlap, and iterations and refinements are common throughout the process. Additionally, regulatory compliance requirements may vary depending on the target market and specific regulations governing electric vehicles.

Revolutionizing Transportation: An Overview of Electric Vehicle System Architecture

Here's the video link for those who do not like reading:

Introduction:

In recent years, the automotive industry has experienced a remarkable transformation with the rise of electric vehicles (EVs). With their eco-friendly nature and potential to reduce dependence on fossil fuels, EVs have become a focal point of research and development efforts worldwide. Behind the scenes, the heart of these cutting-edge vehicles lies in their intricate system architecture, which integrates various components to deliver a seamless and efficient electric driving experience. This article provides an overview of the electric vehicle system architecture, shedding light on the key elements that make up this technological marvel.

Battery Pack:

The battery pack is the primary energy source for electric vehicles. Comprising numerous individual cells, it stores electrical energy and provides power to the electric motor. Lithium-ion batteries, known for their high energy density and rechargeability, are commonly used in modern EVs. The battery pack also incorporates a management system to monitor cell health, regulate temperature, and control charging and discharging processes.

Electric Motor:

The electric motor is responsible for converting electrical energy from the battery into mechanical energy to drive the vehicle. There are different types of electric motors, including AC induction motors, permanent magnet motors, and synchronous reluctance motors. The motor control unit regulates the motor's speed, torque, and overall performance.

Power Electronics:

Power electronics play a crucial role in managing the flow of electrical energy between the battery, electric motor, and other vehicle components. The power electronics system includes an inverter that converts direct current (DC) from the battery into alternating current (AC) for the motor. It also controls the voltage, current, and frequency of the power supplied to the motor.

Onboard Charger:

The onboard charger is responsible for converting alternating current (AC) from the electrical grid into direct current (DC) to charge the battery. It ensures efficient and safe charging by regulating the voltage and current levels. Some advanced EVs also incorporate bidirectional charging capabilities, allowing the vehicle to supply power back to the grid (vehicle-to-grid technology).

Thermal Management System:

Efficient thermal management is crucial for maintaining optimal performance and longevity of the EV's components. The thermal management system regulates the temperature of the battery pack, power electronics, and electric motor to prevent overheating and ensure efficient operation. It may include cooling systems such as liquid cooling or air cooling, along with sensors and control algorithms to maintain the ideal operating temperature range.

Auxiliary Systems:

Electric vehicles incorporate various auxiliary systems to provide comfort, convenience, and safety features. These include heating, ventilation, and air conditioning (HVAC) systems, power steering, braking systems (often equipped with regenerative braking to recover energy), infotainment systems, advanced driver-assistance systems (ADAS), and more. These systems are powered by the vehicle's high-voltage electrical system.

Communication and Control:

To ensure seamless operation and integration of various vehicle systems, electric vehicles employ a sophisticated network of communication and control modules. These modules facilitate real-time communication between the battery management system, motor control unit, power electronics, and other subsystems. They also enable data exchange with external interfaces, such as charging stations or connected infrastructure.

Conclusion:

The electric vehicle system architecture represents the backbone of the modern electric transportation revolution. It seamlessly integrates various components, including the battery pack, electric motor, power electronics, thermal management system, auxiliary systems, and communication modules. This intricate interplay of technologies enables the efficient conversion, storage, and utilization of electrical energy, delivering a sustainable and exhilarating driving experience. As research and development continue to advance, the electric vehicle system architecture will evolve, unlocking new possibilities and pushing the boundaries of transportation innovation.

What's in it for you?

The total cost of ownership (TCO) of an electric vehicle (EV) encompasses more than just the upfront purchase price. It takes into account various factors, including acquisition costs, operating costs, maintenance expenses, and potential incentives. Here are the key components to consider when calculating the TCO of an electric vehicle:

Purchase Price:

The purchase price of an electric vehicle is typically higher than that of a conventional gasoline-powered vehicle. However, the price difference has been decreasing over the years due to advancements in technology and economies of scale. It's essential to compare the upfront costs of different EV models to determine their impact on the TCO.

Charging Infrastructure:

Installing a home charging station or utilizing public charging stations may involve additional costs. These costs can vary depending on the charging equipment, installation requirements, and local electricity rates. It's important to consider the availability and accessibility of charging infrastructure in your area when assessing the TCO.

Fuel and Energy Costs:

One of the significant advantages of EVs is their lower fuel and energy costs compared to gasoline or diesel-powered vehicles. Charging an EV typically costs less per mile traveled than refueling a conventional vehicle. The exact savings will depend on the local electricity rates and driving patterns. Analyzing the average energy consumption of the EV and comparing it to the cost of gasoline or diesel is crucial for estimating long-term savings.

Maintenance and Repairs:

Electric vehicles generally have fewer moving parts and simpler drivetrains compared to internal combustion engine (ICE) vehicles. As a result, they may require less maintenance and have lower repair costs. EVs do not need oil changes, have fewer components subject to wear, and regenerative braking can extend the life of brake pads. However, it's worth considering that EV-specific components, such as batteries, may require replacement after a certain number of years or miles, which can impact the TCO.

Incentives and Tax Credits:

Various governments, municipalities, and utility companies offer incentives and tax credits to promote the adoption of electric vehicles. These incentives can significantly reduce the upfront costs or provide ongoing benefits, such as reduced charging rates or tax deductions. Researching and taking advantage of applicable incentives can have a substantial impact on the TCO of an electric vehicle.

Resale Value:

Resale value is another aspect to consider when evaluating the TCO of an EV. Although electric vehicle technology is rapidly advancing, and new models with improved features are introduced regularly, the resale value of EVs has generally been competitive. Factors such as battery health, model popularity, and market demand can influence the resale value.

It's important to note that the TCO of an electric vehicle can vary significantly depending on individual circumstances, including driving habits, local incentives, electricity rates, and maintenance requirements. Conducting a comprehensive analysis and comparing the TCO of electric and conventional vehicles specific to your situation will provide a more accurate estimation of the cost savings and benefits associated with electric vehicle ownership.

AHAMEVYAHAM by Prashant A U

 

Hey guys! 

I have started a new youtube channel for all. 

Watch interesting stuff on Product Management, Artificial Intelligence, Blockchain, Cybersecurity, Machine Learning, Data Science, Digital Transformation, Operational Excellence, Life Coaching, Neuro-Linguistic Programming, Vedic Astrology, etal. Subscribe & stay tuned for more..! :-) 

Check this out: https://exceptional-motivator-8636.ck.page/ab3ac88f26 

I have created these playlists for you so that you can choose to watch videos that interest you:

ETS: Emerging Technologies

PMS: Product Management

OES: Operational Excellence

CSS: Cybersecurity

LCS: Life Coaching

VAS: Vedic Astrology

Here's a brief introduction about myself:

I have authored two books viz. TERNICODE: LAW OF THREE (genre: Leadership / Business Management) and SWARBHANU RAHASYA: ROLE OF NODES IN DESTINY (genre: Indology / Astrology). For those interested, watch these two book launch videos:

Please do watch my videos, like, comment, share and subscribe to my channel AHAMVEYHAHAM !

Stay tuned!

KNOW YOUR ENEMY - “MANTHARA”

 (Life Coaching Series)

Who doesn’t have any enemy? We all in the course of our life journey, in our endeavor to achieve something, with all our idiosyncrasies keep encountering enemies from time to time. In fact, it can be safely assumed that one who doesn’t have any enemy has never attempted anything worthwhile in life.

Now, there can be different kinds of enemies that can be classified as below:

Enemies	Open	Hidden
Known	Need to face them at any cost	Need to be alert always
Unknown	Need to understand their moves	Need to allure them to come out of hiding

 Different levels of hurdles can be posed by each type of enemy but, the most unpredictable is the one who remains unknown and hidden. In this context, let me draw your attention to the infamous “Manthara” of the great epic Ramayana. Manthara (formerly Princess Rekha and sister of Queen Kaikeyi) is deemed by many to be the villain who was the cause for Lord Rama’s exile and Sita’s miseries.

Those who have read this epic are aware of the actions of Manthara and the sequence of events that followed. For others, let me list out the same herewith:

1. An overambitious Princess Rekha utilizes potent potions to look attractive and fit for several years
2. An adverse reaction of this leads to her turning into a hunchback with sagging skin making her look old and diseased
3. Kaikeyi, her sister resorts to take up her responsibility whom she accompanies with to Ayodhya after her bethrotal to King Dasharatha
4. Kaikeyi fights alongside Dasharatha in the battlefield and also saves his life for which Dasharatha grants her 2 boons / wishes, which she banks up for a future date
5. Manthara has always been caring towards Kaikeyi and does it even more after this event for which she gets rebuked by all as a maidservant
6. Upon hearing news that the King has selected Prince Rama (Kaushalya’s son) to be coronated instead of Prince Bharata (Kaikeyi’s son), Manthara is filled with rage
7. It is Manthara who provokes Kaikeyi with the premise that her own son Bharata may be denied a good royal life if he is denied the throne
8. It is Manthara who reminds Kaikeyi that she should demand the ascension of Bharata to the royal throne and exile of 14 years for Rama, in lieu of the 2 boons that Dasharatha owed to her

Rest of the events are history that make up the rest of Ramayana. I would like you to pause here and think about an alternative sequence of events had this occurred in the current times:

1. What if Dasharatha had refused to honor his boons?
2. What if Rama had refused to honor his father’s word?
3. What if Sita had not chosen to follow Rama?
4. What if Lakshmana had not chosen to follow and serve his brother Rama in exile?
5. What if Bharata had chosen to accede to the throne and declare himself as the King of Ayodhya?

It would have been quite a different story, much like the “Game of Thrones” or that of despotic rulers like Aurangzeb, Herod, Peter, etc. In Ramayana, the evil plans of Manthara fell flat at Bharata’s level. Alas, now we might not see such kind of sacrifice for one another anymore. We don’t have people like Dasharatha, Rama, Sita, Lakshamana, Bharata anymore, but we do have people like Manthara amongst us.  

Hence, we need to understand the modus operandi of people like Manthara amongst us. Her villainous character has the following shades:

1. Overambitious who would go to any extent to remain the center of attraction (using harmful concoctions for beautification)
2. Resentful and revengeful temperament forged by a shattered and mortified ego (rebuked by all for ugly looks and actions too)
3. Megalomaniac control freak who could mask real intentions behind a caring attitude (total control of her sister). 

Further, it would be impossible for anyone to think that someone frail and lowly like Manthara could eke out such evil plans. She cunningly utilized everything at her behest to seize power from mighty people. The following point are worth pondering:

1. An impeccable image built over the years – complete faithfulness and loyalty towards Kaikeyi
2. Consistent actions complementing her image – ignoring everyone’s rebuke and continuing her chores
3. Excellent persuasion skills – how else could she turn around a happy & loving Kaikeyi against Rama, and make her ignore the fact that Dasharatha who loved her the most amongst his 4 wives would pose a danger to the royal well-being of her own son Bharata?
4. Perfect situational awareness – a low profile maidservant (as seen by others in Ayodhya) who jumps into action at the right time (announcement of coronation of Rama) with the right tools (using Kaikeyi as a front)
5. Racketeer mindset – coaching her sister to exact chantage via emotional blackmail of the King
6. Skilled at partisanship & insurgency – No one knew that it is Manthara who is behind all the turmoil. The brothers Shatrughna and Bharata realize this at a later stage after the game has been played on them i.e., after Rama’s exile.

So, it is imperative that we know how to identify the Mantharas in our lives and stop the dominoes effect like Bharata who refused to accept the throne at any cost and waited till the return of his brother Shri Rama. It is easier said than done. Everyone doesn’t get to have the luxury of bonding like the Raghuvamsha brothers. Therefore, if you are faced with a situation like that of Lord Rama, you need to act swift in order to avoid an exile-like situation.

Here are the 3 pivots using which you can determine the genuineness and gravity of any situation:

•        Trust: There can be no transaction without some amount of trust. It is trust that moves the wheels of time.
•        Tolerance: No transaction can be smooth without some amount of tolerance. It is tolerance that can get things done.
•        Time:  Time is the measuring scale that helps us to monitor the movement and smoothness of transactions.

Manthara can win as long as even one of these three elements are on her side. Thus, one needs to ensure that one’s unknown hidden enemies are bereft of trust, time or tolerance at all times.