Showing posts with label IIPM Ranking. Show all posts
Showing posts with label IIPM Ranking. Show all posts

Friday, October 05, 2012

The Top 30 Ranks

A list of the B-Schools that Nearly made it to The Top 30 Ranks in the B&E-ICMR B-School Survey. And well, They Might just Make it Next Year!

Now jump back in that analogy, and you’ll realize why any research that deals with bringing out the list of best B-schools in the country cannot ignore the views of the most important customer set –experienced corporate leaders! For it is these top management leaders who will be able to give feedback on the intricacies of how and what makes a great B-school and a greater B-school student.

That is why Business & Economy had decided to unleash a new paradigm in B-school surveys in the Indian context when it launched a unique concept for ranking India’s top 30 B-schools last year. We shortlisted the top 30 B-schools based on our survey conducted across the main metros of India, but the final ranking among these 30 B-schools was done by five top corporate leaders from the industry. We supplied this unique and distinguished panel with all the relevant data and information they needed on the top B-schools for giving their final scores to the B-schools. From these final scores, we got our final list of rankings. And this procedure, which is unprecedented in the history of B-school surveys in India, is unrivalled in its credibility and authenticity, since the results come from those who have absorbed these very B-school graduates on a regular basis and have over decades realized how well or otherwise these students have performed. Therefore, they logically know exactly what works and what doesn’t.

Now an annual feature, India’s most authoritative B-school survey repeated the core process and methodology we followed last year for 2010-11, but the list of corporate leaders has only got larger, more diverse and far richer. This time around, we took the list up to twenty – the who’s who of India Inc. representing outstanding management leadership across geographies, across sectors and even across management functions. Unequalled, unparalleled, unrivalled, the illustrious panel list for this year’s B-school rankings is as follows:  Dr. Wifried Aulbur, MD and CEO, Mercedes-Benz India, Michael Boneham, President and Managing Director, Ford India, Sandeep Aneja, MD, Kaizen Private Equity, V. Balakrishnan, CFO, Infosys Technologies, Sumeet Nair, Chairperson, Fashion Foundation of India, Subrata Dutta, Chief Operating Officer, Samsonite South Asia Pvt. Ltd., Gautam Dutta, CEO, Cinemedia, PVR Ltd., K.M. Nanaiah, MD, Pitney Bowes, Pankaj Dubey, Business Head, Yamaha India, Girish Vaidya, Independent


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Monday, September 10, 2012

Wrong person, Wrong place?

The New CEO is a Software guy and has Prior Experience only in Enterprise Sales – A clear mismatch with the current philosophy of HP – The largest IT company in the World. Is he the right choice?

On a cold Sunday afternoon of February 2009, Leo Apotheker, who had moved into the CEO chamber at the $46 billion technology giant SAP’s Waldorf headquarters barely seven months back, shot across a sorrow-laden email to his employees. It read thus: “The pace of change was probably too rapid. My communication toward you was not always optimal. I regret that I wasn’t able to earn the support of each and every one of you...” So what forced him to wear the cloak of humility? The Board of Directors at SAP had refused to renew his contract following his underperformance. The financials had turned turbid, as SAP recorded the first fall in top & bottomlines in 7 years, which plummeted by 8% to $14.6 billion and 7% to $2.48 billion respectively in FY2009. Other matters disappointed the shareholders further, which included the withdrawl of SAP from the Sun acquisition talk (which Oracle finally bought, killing chances of SAP becoming invulnerable), the failure to get on board 10,000 customers for his expensive service software project Business By Design by 2010 (which never saw the light of the day during his tenure), his inability to get SAP’s products in-line with the changing trends in enterprise software, et al. His fate was sealed.

But just as surprised as the world was when he was offloaded by SAP’s Board even as his 75 minute-long debut CEO keynote at Orlando was being forgotten, the $98 billion tech-giant Hewlett-Packard proved yet again (after Hurd’s unceremonious exit on August 6, 2010) why it is good at making news. Apotheker had just been announced the scandal-marred HP’s new blue-eyed boy. As for the shareholders, their grief was visible as the HP stock fell by 4.32% on the first trading day following this announcement on September 30, 2010 – wiping away $4.2 billion of value. Rick Sturm, CEO, Enterprise Management Associates (EMA), while speaking to B&E from Colorado, says, “Investors have indicated that they doubt Apotheker’s ability to lead HP. This choice by the HP board is likely to end up being seen as an unbelievable act of stupidity.”

Of what can be observed from Apotheker’s past, seems unsettling. In recent times, HP has been plagued by unethical issues leading to high-profile exits. With Apotheker, it appears that this corporate legacy will live on. The German is currently involved in a courtroom dust-fight, where Ellison-led Oracle is claiming more than $2 billion in damages from SAP. Oracle claims that Apotheker was at the centre of an illicit activity four years back, which saw workers at SAP’s TomorrowNow subsidiary steal copies of Oracle’s maintenance services software. HP’s honour will therefore again receive some clubbing on November 1, 2010 – officially Apotheker’s first day as HP’s CEO – when he presents himself before court to defend SAP’s case, as Massachusetts-based Charles King, President, Mindspring Research tells B&E, “Apotheker could leave HP with eggs on its face. Oracle never bothered listing Apotheker as a witness for its trial with SAP.” What a way to kickstart your tenure as HP’s CEO!


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Saturday, September 08, 2012

Once a star, always a star

Back in the 70s, Neetu Kapoor nee Singh made ‘coy’ passé; the new leading lady was spunky, even brattish, yet eminently loveable. After a gap of nearly 25 years, she faced the camera for Do Dooni Char, wowing one and all with her middle-class budget-conscious housewife act. We can’t wait for more; how’s that for some khullam khulla declaration of love?


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Saturday, September 01, 2012

SETTING ‘THE’ BENCHMARK!

O. P. Bhatt took over the reins of sbi when private players were catching up. He decided to go slow and his strategy seemed to have paid off. With SBI’s profits two times that of its closest rival ICICI Bank, sbi is far ahead of its competitors by any means

B&E: SBI’s NIM (net interest margin) has improved significantly from 2.30% in June 2009 to 3.18% in June 2010. Where do you see it going forward?
O. P. Bhatt (OPB): We certainly want to increase it further, but we would be happy if we maintain it at the current levels for now. Though there is a healthy possibility of an increase in NIM in the near future, our priority is to maintain it at the current levels, which is quiet good.

B&E: Credit growth in the banking sector seems to have picked up much faster than the usual pace. So, what kind of numbers are you looking at?
OPB: We are really optimistic about the credit growth and as such are looking forward to achieve a 20-22% growth rate in the near future.

B&E: Will the demand continue to come from infrastucture and allied sectors or will we some more sectors playing a significant role in driving the demand for credit?
OPB: If you look at the big loans, the maximum demand, as of now, is coming from the infrastructure space. In fact, it willl continue to come from here in the near future as well. However, sectors, which include retail, education, auto and real estate, will too drive the demand for loans. We have seen some good credit growth flowing in from these sectors in the recent past and as such are really optimistic about the contribution they can make to the credit growth.

B&E: Going forward what is the outlook for interest rates?
OPB: We are definitely reviewing the interest rates. We have an upward bias for the interest rate in the coming quarters. The interest rates for both, deposits and loans will go up. Deposit rates have already bottomed and the era of cheaper interest rates is over.

B&E: SBI has reported an increase in NPAs (non-performing assets). Which are the sectors that are putting pressure on the bank’s balance sheet?
OPB: NPAs have increased for sure but if you look at the figure it is more in terms of percentage than the value. On a sectoral basis, the agriculture sector is the biggest contributor to our NPAs, almost 50% of the total NPAs of the bank. The other sector that’s putting pressure is the SME sector.

Read more......

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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Professor Arindam Chaudhuri - A Man For The Society....
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IIPM Links
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Tuesday, August 14, 2012

SUBHIKSHA: FAILURE

Subhiksha was a dream flight, which crash-landed as soon as it took off; B&E presents a decisive story covering a summary of its flawed strategies and the way forward. by Pawan Chabra

A former senior employee tells us, “Subhiksha’s debt-equity ratio was always wrong since the expansion began. The company pushed the accelerator simply depending on debt. Even as the company was not able to pay its existing employees properly, it still kept on hiring more till the recession started.”

Both Satyam and Subhiksha, coincidentally, have been cases of investor activism, where shareholders, sniffing something out of the ordinary, have demanded deeper investigation. This has specifically re-ignited the debate on the relevance of independent directors on the board. According to a report by KPMG titled ‘India Fraud Survey Report 2010’, almost 40% of the frauds committed in India Inc. are because of the failure on the part of line managers/departmental heads to act against deviations from established policies, and only 10% are because of inadequate oversight by the Board/Audit Committee. But they add that bribery and corruption are now considered to be an inevitable aspect of doing business in India by many Indian companies, with fudging of financial statements perceived to be the most rampant corporate fraud within India.

Practitioners like Susil Dungarwal, MD, Square Feet Management feel that though Satyam and Subhiksha may look similar, there are differences, "especially in the intentions; while Raju wanted to take the money home, Subramanian still wanted to put the money attracted by the falsified documents back into the company.” According to a report by KSA Technopak, the share of organised retail in the Indian retail industry will reach 12%; standing at $67 billion out of the total $587 billion of the total retail industry by 2015, which is expected to close with a 5% share in 2010 with the organised retail industry contributing $21 billion out of the total $435 billion of business. "But if cases like Subhiksha get repeated, the projection may be revised soon; and the biggest hit would be in the PE investments that were coming into this sector," says Prasoon Majumdar, President, Global Strategy and Investment Consulting.

That the Indian retail industry – like the airlines sector – is going through a bloodbath is no secret. Vishal Retail was another firm which almost reached a collapse point – but the company was saved by the US-based PE firm TPG Capital. Even Satyam got taken over by the IT arm of M&M Group Company Tech Mahindra, and the conglomerate has since been trying to get the IT major back on track. A saviour for Subhiksha, unfortunately, is still not in picture. Sources familiar with the matter confirm that ICICI Ventures has now even approached many strategic buyers; but so far, nothing has worked out as the prospective acquirers don't see much value in the retail chain. Even Premji is said to be suffering from the same predicament, with the investment value plummeting post the scandal and collapse.

So where to from here for Subhikhsa? Clearly, wherever it is, would be only downhill. The chances of Subhiksha being sold lock, stock, and barrel are extremely low. But a higher probability exists for a part by part sell off of Subhiksha's various business units – but there would be very less assets to speak off once all claims are settled. Depressed about that? Well, read the book...




 
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Monday, July 30, 2012

Pay for the crime; not literally!

Blood money is a common practice that is endorsed by a number of Nations as an alternative to the conventional judicial system. It’s time other countries too consider this alternative for the victim’s family

The debate around blood money is very much relevant to the legal process, as it diminishes the utmost objective of law that aims to protect society from crimes. However, the practice of blood money, where out of court monetary settlements are made by the accused with the kith and kin of the victim, is omnipresent.

In July 2011, the death penalty against 17 Indian youths for killing a Pakistani in a fight over alcohol bootlegging in 2009 was waived by the Sharjah Appeals court after an Indian businessman agreed to pay Rs.40 million as blood money on their behalf. American Central Investigation Agency contractor Raymond Davis was also pardoned from the charge of killing two Pakistanis in January 2011 after the families of the victims agreed to a whopping blood money deal of around Rs.60 million.

Several countries believe that blood money is more apt rather than ‘an eye for an eye’ perspective. Countries like Saudi Arabia, Iran and Pakistan have enacted laws for Qisas and Diyat a.k.a blood money. In Japan, it is very common to give money (read: blood money) or mimaikin to the sufferer’s family or next to kin. The Korean legal system also practises blood money (hapuigeum), even for serious crimes like rape, under certain conditions. Somali people follow a customary law, Xeer (a polycentric legal system developed indigenously), which waives punishment to the offender on issue of blood money to the family of the victim for crimes like theft, rape and murder.


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Saturday, July 28, 2012

India’s it Story so far was that of a few big players

India’s it Story so far was that of a few big players and a number of smaller ones. Now it’s time that some M&As Balance this Anomaly out

There is not much expectation of deals happening from the larger MNC players. The key rationale for these deals would be access to the Indian market. For instance, GroupOn acquired Sosasta.com for an undisclosed amount early this year. The leading deal in the first half of this year was Serco’s acquisition of BPO giant Intelenet Global Services for $634 million. The latter had access to clients in UK, US and India. Otherwise, in the software space, with global IT giants having set up shop in India, there is little they can gain in terms of price/portfolio/market advantage by acquiring smaller Indian software firms. Girish Vanvari, Executive Director, KPMG India, adds, “Many companies are sitting on idle cash. There are not too many targets to acquire, and at the same time the valuations are high.”

Globally, technology M&As are happening across the board as companies look a ways to ride the next wave in IT services, software and the internet. When it comes to outbound deals by Indian IT firms, a surprisingly large number of small deals have happened, and the focus in this case, apart from acquiring an attractive portfolio, has been easier entry to a newer geography. Wipro acquired the global oil and gas technology business of SAIC earlier this year for $150 million. Other deals in the first half of 2011 include GenPact’s acquisition of Headstrong Corporation for $550 million, Infosys’ acquisition of New Zealand-based Telecom Corporation’s Software Services Division for $3.9 million and Polaris Software Lab’s acquisition of IdenTrust Inc. for $20 million. In addition, there is plenty to gain for mid and small tier IT companies to merge since they do have complementary strengths to leverage. The first half of this year saw a major deal when iGate Corporation and Apex Partners completed their acquisition of 83% stake of Patni Computers for $1.21 billion. For iGate, this helps expand its reach beyond BFSI, which was Patni’s Achilles Heel to insurance, manufacturing, retail and distribution. HCL Technologies, which made the $658 million acquisition of Axon Group, has also looked bullish and is looking for similar deals that provide it growth opportunities. And other IT companies would find it inevitable too. M&As are going to be a key ingredient of Indian IT’s next leap forward, and there is no doubting that.


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Friday, July 27, 2012

Is Profit as a “Direct Goal” Overrated?

The Word Profit has Provoked a Wide Range of Issues and Emotions among Respondents & Businesses around The World. It also Launched Debates, and many readers Argued for Measures of Success other than Profit, writes Prof. Jim Heskett, Baker Foundation Professor, Emeritus, at Harvard Business School.

Why do managers choose to pursue profit so directly? The word “profit” has always provoked a wide range of issues and emotions among respondents. It sets-off several debates. They ranged from definitions of “acceptable” profit, to profit’s effect on decision-making and even to the future and viability of capitalism.

One debate concerned the primacy of profit as a goal. Deaver Brown (author of The Entreprenuer’s Guide) led this argument by saying, “Profit is the only legitimate goal of a corporation...,” pointing out that it serves many important functions for us as employees, citizens, and others. David Zemanek (Sales leader at Thomson Reuters) added, “Isn’t that why they call them ‘for profit’ companies?” Ann Brown (former Chairman of Consumer Product Safety Commission) said, “There’s nothing wrong with profit as a goal. What’s important is how you achieve it.” (Tony Hayward’s replacement at BP, announced on July 26, may be a timely illustration of that point; BP is very profitable, but there is official evidence that it continues to compromise safety.)

Gerald Nanninga (VP – Retail Ventures Inc.), on the other hand, argued that profit is a default measure, commenting that, “It is easier to measure and reward a goal of ‘producing a profit of x’ than it is to set goals around creating value faster than costs (his preferred goal).” Deepak Alse (a technology expert) reminded us that “the world of business... is an unbounded system! The ‘Corporation’ is in effect an acceptance of the idea that profit-seeking should happen through indirect approaches.” Mark Nadler (Partner at Oliver Wyman-Delta) commented, “Operationally, profit as a final goal is probably impossible because of principal/agent problems and lack of information and knowledge. This makes intermediate targets that affect profit important.” Steve Brogan (Managing Partner of Jones Day), meanwhile, offered an interesting analogy: “Anyone who has ever gotten involved in serious marksmanship understands that there is a difference... between the intended target and the aiming point.” In a pessimistic and somewhat lamenting tone, Tom Dolembo (Consultant, Disaster Planning Associates) ventured another reason: “I suspect profit, in the pure capitalist sense, is obsolete... we’re just not capitalists anymore. Profit is just another archival number to be doubted.”

One argument for measures other than profit as “direct” goals is the complexity of the corporation and the difficulty of drawing a direct line between any action and profit. Consultant Raymond Suarez said, “In a world characterised by increasing complexity... reconsidering profit as being the sole and superior criterion for business success, is the only rational approach to take.” On the other hand, Dan Wallace (co-founder of Hungry Fish Media) argued, “The presumption that problems are complex is a self-fulfilling prophecy... the most profitable and successful companies I know are rigorous... about driving simplicity and... driving out complexity...”


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Thursday, July 26, 2012

Who will be Deutsche Bank’s New CEO?

Deutsche Bank’s CEO Josef Ackerman is Opposed to The Idea of The Non-German Speaking Anshu Jain becoming his Successor. Reason – he finds Jain Unsuitable and has his Own Choice for Crown Prince. For The $55 billion giant, This may Prove The First Step to Losing The Future.

For a CEO who has spent the last ten years of his life shuttling between time zones, “comfort” is never an option. Josef Ackerman, the 63 year-old CEO of Deutsche Bank (DB), in a matter of a week, on average, touches down in at least seven countries. Talk of peregrination. And for critics who classify his living out of a suitcase act – in the comforts of Presidential suites & chartered planes – a leisure-filled populist gambit, here is some delicious inside bit of a half-day-long act which proves how he is not sleepwalking towards his goal of making the $55.17 billion-worth entity bigger. The second Thursday of February this year, saw him begin his day at 7:45 am with a business breakfast with some Chinese bankers in Hong Kong. Despite having flown-in an hour past midnight, the previous night from Malaysia, there showed no wrinkle of fatigue on Ackerman’s face. The meeting was followed by a brief interview with CNN, and a couple of one-on-ones with high net-worth customers of DB. Other pre-lunch sessions included a quick interaction with the bank’s Southeast Asian head Rob Rankin (and some managers at the company’s Hong Kong office) at the International Commercial Centre, and a moderately long one with Li Ka-shing, the $26 billion-worth Asian businessman. There was one final appointment planned for the day before he had to head straight to the airport (to fly back to Frankfurt). At precisely five past twelve, he walked out of a black Mercedes at the main entrance of Hotel Conrad. The Ballroom was where he was headed. He had to address a mix of entrepreneurs, businessmen, some bankers and a few chosen Germans. 30 minutes later, he was out. To be fair, Ackerman squeezes in more events during an “ordinary” working day than an “ordinary” CEO. That he is trying hard is obvious. But is he doing enough? That bright-socked, tin whistle-blowing pony-tailed lady shareholder who disrupted proceedings at the 2011 AGM (May 26, 2011, at Frankfurt) – while reacting to Ackerman’s failure to clarify doubts over his successor – certainly would disagree.

Ackerman has parented the German bank for 15 long years. The long hours and his tireless attitude justify his commitment all right. But in discipline, he falls short. Emotions have got to him. Nine years after occupying the top spot, he is still found biting his nails when questioned about his successor – an answer which he should have had ready as early as the fall of 2009 (when he was initially scheduled to retire). But his contract was renewed till the AGM of 2013 for lack of succession planning. Expectedly, with less than 24 months to go before he finally steps down (he has to; 65 years is the mandatory retirement age at DB and he is 63), the worried shareholders have gone aflutter over who will fill his shoes. There are more guesses than one and despite claims of having put in place a “clearly structured process” to zero-in on the next CEO, the obvious fact is – the company is scrambling, with no conclusion in sight.

Bad news is – the CEO and shareholders stand divided over who should be handed over control of DB. Of those most likely to get lucky – including names like Hugo Bänziger (Chief Risk Officer of DB), Hermann-Josef Lamberti (COO), Stefan Krause (CFO), Reto Francioni (Head of Deutsche Boerse), and Paul Achleitner (CFO of Allianz, Europe’s largest insurer) – insider Anshu Jain (head of the company’s Corporate and Investment Banking division) & outsider Axel Alfred Weber (fr. President of Germany’s central bank, the Bundesbank) are the clear favourites. Trouble is – despite English being adopted as the official language of communication during all intra-management and shareholder meetings (since DB bought the Bankers Trust in 1999 for $9 billion), Ackerman is strongly opposed to the fact that the non-German speaking Jain can adapt to and take forward the Franfurtian-ideology & legacy of the bank. He is an Indian-born, British citizen by choice candidate, and his London-mannerisms are presumably not something that will please the political circles in Germany. On the other hand, Weber, a German, given his long career spanning three decades in the country, understands politics & the state of the domestic macro-economy. Given this, Weber should be the winner hands down. Actually, no.

Sometimes, even clamouring shareholders display a higher sense of intelligence. This is one such instance. Ackerman, despite wanting an experienced insider as replacement, is not convinced about Jain. To understand why he is sitting on the wrong side of logic, a little math is in order.

The German, non-German divide. Many understand that since Ackerman joined Deutsche in 1996, he has encouraged a culture of globalisation. Result – as compared to 1995 (when Jain joined the bank to head the nascent markets business), the company has grown into a global institution. In FY2010, only 25% of the company’s revenue came from German customers. Considering that this value has decreased phenomenally from 70% in 1995, this is a trend which deserves a radical change in mindset. A question. If at present, a German-speaking “global” CEO can be put in charge of a business which makes only 25% of its topline from the German market, what is so sinful about allowing an English-speaking Brit to look after the same business, which makes 75% of its topline from non-German markets (largely consisting of US, Central & Eastern Europe, UK and Asia – markets which speak English-at-large)? Perhaps Ackerman wants to avoid hurting the “sentiments” of his “German-speaking” employees. But even on that front, there appears no concrete evidence. Of the 102,602 full-time employees (FY2010) at the company, 73.33% are present in markets outside Germany. Even a majority of its shareholders (count of 640,623; institutional and private entities) – 54% to be precise – are non-Germans. Customer-wise, employee-wise, shareholder–wise, all indicators cry out to justify why the word “global” appears precisely 194 times in the company’s 2010 Annual report. And Ackerman (who himself is a Swiss-born) is still unwilling to grant a non-German a shot at the crown of being the face of this (as the company claims) “meritocratic tradition and culture”?



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Tuesday, July 24, 2012

Clear The Waterways first, Can You?

A number of Industries are Blamed for their Contribution to Global Warming, but as Statistics Reveal, The Shipping Industry beats The Rest, and Requires Special Regulations

Unfortunately, ‘long term’ is a set of words that people use in a lot of instances, but rarely do they understand their relevance or importance. Unfortunately, as far as caring for environment is concerned, a lot has to do with ‘long term’ impact, which does explain why it remains relatively low on priority for global businesses, governments & people alike. Innumerable measures have been taken; but risks remain alarmingly high. A major factor that people are ignoring is shipping, the greatest source of environmental pollution. And the dangers are visible here and now.

Shipping is responsible for 3-5% of climate change emissions worldwide and contributes around 900 million tonnes of carbon annually. Total emissions are comparable to some major national economies. One big container ship can emit almost the same amount of cancer and asthma-causing chemicals as 50 million cars. The total emissions of 15 large cargo ships are equivalent to the emissions of all cars together in the world! International Maritime Organization (IMO) estimates that if things go as they are, shipping’s contribution to greenhouse emissions could reach 18% by 2050. From 1990 to 2007, emissions of basic pollutants (NOx, SO2,  PM &CO2) from shipping have nearly doubled to 1096 million tons.

About 60,000 humans die by particulate matter (PM) emissions from shipping; this costs over $330 billion annually to the world economy. In one example, it was estimated that shipping emissions cost the Danish government some £5 billion annually. Around 33% of total deaths are occurring in Europe and around 25% in each of East Asia and South Asia. For example, over 700 premature deaths take place in the Los Angeles port area annually. Low-grade ship bunker fuel has 2,000 times more sulphur content than diesel fuel used in US and European automobiles. There are over 90,000 cargo ships worldwide and they burn over 300 million tonnes of bunker fuel every year. Researches show that a passenger cruise can generate about 210,000 gallons of black water, 1,000,000 gallons of gray water, 37,000 gallons of oily bilge water and more than eight tonnes of solid waste in a week. As a consequence, over one in ten children suffer from asthma in major port cities. Unfortunately, the recent meeting of the IMO, where plans for implementing measures such as emissions trading schemes, remained deadlocked due to the very familiar debate between developed and developing countries, wherein the latter are reluctant to compromise on their growth.


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Thursday, February 16, 2012

Businesses too small to let fail

Why do small businesses have such a high rate of failure? What can be done to lower it?

4Ps Business & Marketing, in a strategic alliance with the new york times service, presents a column by howard Schultz, Chairman, President and CEO of Starbucks corporation

This is such an important question right now because so many struggling economies around the world desperately need their countries’ entrepreneurs and small businesses to succeed. The jobs that small companies provide and the high-quality goods and services their employees produce can give powerful boosts to a faltering economy.

Unfortunately, studies show that about half of small businesses fail in their first five years – for a variety of reasons. Insufficient capital. Inexperienced management. Lack of – or incorrect – focus. An irrelevant product or service that does not meet or inspire market needs.

But let’s assume a company gets all of the above right – even though capital is hard to come by these days. The company can still sink if it does not attract and engage the right people.

Let me take a step back to make my meaning more clear. The hardest part of building a company at the outset is recognising the need to invest ahead of the growth curve, and then having enough capital to do so. The kinds of investments I’m referring to are ones you’d expect: materials, inventory, technical infrastructure, marketing, real estate.

Generally, the largest investments are in pay and benefits. This is where many small businesses get into trouble: By trying to minimise “people”-related costs, a small-business owner can inadvertently stunt the company’s growth. That said, investing in people is not just about spending money. It’s also important to expend intellectual energy on ways to inspire great work.

So, to answer this question more directly, small businesses have such a high rate of failure because their leaders do not put enough money or time toward employing, retaining and maximising top talent.

When I speak to small-business owners, I encourage them to follow a few guideposts:

LOOK FOR CHARACTER AS WELL AS SKILLS WHEN HIRING

Even in a down economy with high unemployment, the pool of the most talented people in any given area is shallow. That pool gets even shallower when the bar for hiring is skills PLUS strong character. This is the pool you want to hire from, even if it takes a little longer to fill a role.

Interview people through the lens of building a culture of trust. Ask yourself: How will they lead – by instilling fear or by encouraging greatness? How will they treat their direct reports, suppliers or customers – with respect or with condescension? Over the years, I have seen that character is more important than experience. People can learn the nuances of a job, but passion for doing the right thing cannot be taught.

Remember, the first people in the door will hire the next generation as you grow, so layer the organisation with teams that are smart, respectful, collaborative and just plain nice.

TREAT COMPETITIVE COMPENSATION AS A STRATEGY, NOT AN EXPENSE

Back in the late 1980s, at the beginning of my management of Starbucks, I wanted to be the retail employer of choice. I felt that I could achieve this only if, after hiring bright, friendly people to work in our shops (and our offices), I paid them more than the going wage in other restaurants and stores. I also had to offer benefits that were not available elsewhere.

Doing so came with a price. Back then, health-care costs were soaring and most companies were cutting benefits – much like today. Some of my investors accused me of irresponsibly raising expenses when the company had yet to turn a profit. I explained my position with data, showing that competitive pay and benefits would increase retention for existing employees and thus cut recruiting and training costs. Ultimately, my argument to investors proved true.

That was a long time ago, but treating overall compensation as a strategy for success, and not just an expense, remains critical. Today’s pay and benefits mix should be a sustainable blend of things beyond merit pay – stock options, retirement-account-contribution matches, tuition reimbursement, health-care coverage – that each hold value and add up to a total package that addresses people’s well-being on several levels.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS
Planman Technologies
IIPM Contact Info
IIPM History
IIPM Think Tank
IIPM Infrastructure
IIPM Info
IIPM: Selection Process
IIPM: Research and Publications
IIPM MBA Institute India

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Wednesday, January 25, 2012

IS TODAY’S FILM CRITIC MORE MARKETER THAN INTERPRETER?

In an age of crass consumerism, has the Film Critic sold off his soul to market forces or does he still bring a special, enriching perspective to the table? 4Ps B&M’s Consulting Editor Monojit Lahiri probes this delicate terrain with some articulate individuals

It started with a casual conversation regarding the forthcoming International Film Festival of India (IFFI) to be held in Goa, on the 23rd (November 2011). Created to showcase the best of engaging & interesting Indian – and global – cinema, film festivals have always attracted the true-blue cognoscenti and cinema buff of the discerning kind, desperate to sample a life beyond Bollywood! Where there are film fests, can film critics be far behind? In today’s world – especially with Bollywood booming and blitzing all over the place in all-consuming fashion – can a real committed, dedicated film critic ever hope to survive? Should he, under the circumstances, review and re-invent his role to be part-marketer, part-interpreter?

Respected, veteran Film Critic Saibal Chatterjee is first off the block with a zinger. “I don’t think it’s a question anymore, but a solid factual statement!” he says. In fact, he is of the firm belief that this breed – film critics – is slowly getting marginalised and residing mostly in the world of blogs or little magazines. “What you got today are mostly reviewers who dole out opinions that are reader-friendly, touching the surface areas of the film in a glamorous way. It is completely in keeping with the mood of the times where cinema is perceived as a product to be consumed by the largest volume of consumers, possible. So, marketing, branding, advertising and promotion skills take precedence over knowledge, scholarship or insight. Pitching it right to a dumbed-down readership is the name of the game. In this scheme of things, where does the poor film critic feature?!” Chatterjee tells 4Ps B&M.

Communication specialist Bikram Ohri begs to differ. He believes that we live in nano-second times where reverence and sanctity to anything out in the public domain needs to be reviewed. “Boss, movies in India are entertainment products. Can we please stop worshipping them, wait breathlessly for that magical ‘Eureka moment’ and cut to the chase?! The critics mandate today is clear: Blend commentary in a cutting-edge way that entertains as it enlightens. Also, please go easy on the heavies! As the great Hollywood Director Billy Wilder once said If you are lookin’ for art, hell, go buy a Picasso. If you’re lookin’ to have fun and be entertained, hey, welcome aboard!” says Ohri. Joining the party is a noted film critic who refuses to formally participate or divulge her name for professional reasons. “It’s all very well to talk about art, sensibilities and values but with the corporates entering the scene with their deep pockets, the equation within the system and industry has dramatically changed. Film criticism, an intrinsic part of this universe, has been impacted as well. There are no two ways about it,” she tells 4Ps B&M.

Film Critic Mayank Shekhar brings his own spin to the table. “Some very novel things have happened in the last few years in the industry that has certainly impacted the role of the film critic. For one, there is this new entity called Trade Analyst. It is a vague term but this person seems to grab a lot of space in the electronic and mass media. It presupposes some kind of academic/scholastic background but it really is about ringing up distributors from all centers to get box office collections! Does that answer the definition of a film critic? Then there is the smart, sharp and subtle co-opting of some members of the fourth estate by Bollywood to ensure popular reviews and feel-good notices in the media,” says Shekhar. He explains that all this is a byproduct of the huge budgets powering big-ticket Bollywood projects. Therefore the marketing machinery has to go full steam to reach, persuade and seduce the audience into seeing the film. “However all is not lost, but yes, it is a tricky and challenging calling!” he adds.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS
Planman Technologies
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Tuesday, July 19, 2011

HCL Launches Console

HCL has become the first Indian company to launch handheld consoles. It is set to take on international gaming giants like Sony & Nintendo. According to industry estimates, there are about 300,000 handheld consoles in India and the segment is witnessing a year-on-year growth of around 35 percent. HCL ME-converged devices comprise multimedia options like imaging, voice recording and recording TV programmes on the consoles. But while HCL is going after the usual gamers with this new surprise, Nintendo and Sony have already made their mark in the Indian and global markets. Moreover, they are now coming up with a new 3DS handheld that enables 3D gaming. It’s a strategic move for HCL, but with competition on its heels, ‘tough times ahead’ is an understatement.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM B-School
Arindam Chaudhuri
Rajita Chaudhuri
Planman Consulting

IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
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