C’mon, be a sport Wendy!

If there is one thing that Wendelin Wiedeking, German sports carmaker, Porsche’s CEO for 16 years would be remembered for after he steps down from his post, it will have to be his horrendous plan to acquire Volkswagen because of which Porsche is saddling with huge mountains of debt to the tune of $14 billion. Maybe this is why the supervisory board of Porsche Automobil Holding SE unanimously accepted the CEO’s resignation. Did we tell you that Wiedeking is also Germany’s best paid CEO! Had Porsche been an American company, Barack Obama would have definitely thrashed Wiedeking with his famous ‘Say on Pay’ bill! Coming back to Germany, it is believed that despite much controversy surrounding Porsche’s buyout of Volkswagen (that actually triggered the CEO exit), talks of merger may revive once again following Wiedeking’s exodus. But it ain’t as easy as it seems to be. Before the merger talks take any form, certain issues still need to addressed gingerly before the merger gets a green signal.

Interestingly, Wiedeking was the one who got Porsche back from the brink of bankruptcy in 1992. But his idiosyncratic attempts to acquire Europe’s largest automaker, Volkswagen has taken Porsche into deep realms of debt. In fact, the hostile takeover attempts by Porsche opened the doors to Ferdinand Piech, Volkswagen’s powerful Chairman and a part-owner of Porsche, to turn the tables on Porsche. Piech even went to the extent of convincing the company to take over Porsche on the condition that the sports carmaker will improve its finances first. There is no denying the fact that Porsche will have to test the rough waters carefully before going ahead with its decision as experts expect the desired merger to be driving the growth of Porsche for many more years to come.

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Source : IIPM Editorial, 2010.

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

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Social media helping in brand advocacy?

Ever wondered how active users of social networking sites can help enhance the equity of a brand? Anderson Analytics conducted an online survey in June with 5,000 demographically representative respondents to identify users’ likely interests, buying habits, media consumption, et al, and concluded that there are definite data-driven segments in the social networking site market, both for non-users and users. “Most of the marketers don’t understand the nature of social networking. They are responding with little thought or strategy and are wasting money as a result,” says Rob Enderle, Principal Analyst and President, Enderle Group. Marketers need to advertise where the likely customers are spending most of their time and target the ad so that it will be consumed in the context of their activities and find a way to capture metrics of the success so that they can improve upon it. Enderle further adds, “They first have to profile their customers and then design a program that works within the context of this media.” Take for instance Facebook. It has been observed that Facebook-users are non-youth and average in the level of interest shown in the site compared to Twitter and MySpace. LinkedIn, on the other hand has a more professional user base. These social networks can be used to create forums that encourage consumers to share their experiences with a brand. Not only will this increase brand awareness, but it will also lead to higher levels of word of mouth advertising and will increase brand advocacy.

Arun Kumar Roy

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Source : IIPM Editorial, 2009

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

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UNLEASHING THE POWER OF THREE

HARPAL KARLCUT, CEO, CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE

To start operations in times of slowdown and quickly break into the top ten in the very first year of operations is indeed incredible. These guys can’t stop thanking their strong focus on bancassurance

You don’t just rise to be the numero uno within a year of operation do you? So why did we chose the Canara HSBC Oriental Bank of Commerce Life Insurance over other leading players (see chart) in the industry? Well, this new player’s performance has been exemplary, especially when the big bosses of the industry are facing a tough time. In just a year, this life insurer has climbed to the ninth position amongst India’s twenty one private life insurance players (in terms of market share on weighted premium income). Not only this, in April 2009, the company recorded its best sales performance over the previous month than any other private insurer. Guess that’s just one more reason to be counted as a success.

But, when listening to any success story, what strikes first is, how? For a conceptual product, which is actually sold rather than bought voluntarily by consumers, credit for the unprecedented response received by the company goes to its operations based on a bancassurance model, adequate capital, distribution capacity, strong distribution channel and innovative products. Certainly exclusive access to approximately 50 million potential customers and a pan India network of over 4,100 branches does give the insurer an ‘unfair advantage’ over some of its new peers. Explaining the success story, Harpal Karlcut, CEO, Canara HSBC Oriental Bank of Commerce Life Insurance Company, says, “Our success is based on HSBC’s in-depth know-how of bancassurance, coupled with the distribution of Canara Bank and Oriental Bank of Commerce. Our performance has been delivered entirely by bancassurance.” What is evident is the fact that bancassurance has played a pivotal role in helping the new entrant break the clout of the biggies. The CEO agrees, “Each aspect of our business model has been tailored to bancassurance and the specific needs of each of the three shareholding banks; including products, promotion, training, operational support et al.” But the real success of a marketing strategy for an intangible product primarily depends on its execution and the insurer has taken due consideration of this fact too.

Success has many parameters and it seems this insurer has focused on each of them albeit more on bancassurance. But then, they should not forget this is just the beginning. To reach the top they have a long and winding road to cover. That’s when they’ll need a lot more than mere bancassurance to fulfil any leadership ambitions.

Gyanendra Kumar Kashyap

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Source : IIPM Editorial, 2009

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

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Bringing a paradigm shift

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Oberoi group redefined luxury benchmark with its hotels by offering unique experience that creatively combines unique locations, luxurious environs and the best of modern amenities with personalised warm service.

In 1996, PVR opened the first multiplex in the country thereby bringing about a major change in the cinema viewing experience for the Indian public with the provision of comfortable seating, state-of-the-art screens, projection systems and audio visual systems. It was able to command a price five times that of single screens, which was believed to be too heavy for the pockets of the customers. Today multiplex account for 60-70% of box office collections. Not only have they redefined movie experience, a spurt in the number of multiplexes in the country has changed the entire complexion of Indian films – their budgets, the way they are made and the audience they are made for.

The service sector in India is poised for high growth in the years to come. There are several untapped latent consumer needs, which present a big opportunity to expand the market by creating awareness among the consumers. We foresee that the above mentioned trends will continue into the future and we will witness new customers segments being targeted by new services, more evolved and efficient delivery, redefinition of benchmarks and experience and in some cases complete paradigm shifts too. Also low penetration of organised services, specially in the smaller cities in India, implies that there will be significant focus on them for reaching out to more customers.

The imperative for service sector companies is therefore to continuously look for ways to evolve, improve and raise the bar for others to follow. There are plenty of cross-learnings available across sectors for these companies to make use of. For instance, besides global retail leaders like Wal-mart who are expected to define industry benchmarks, the Indian retail sector has a lot to learn from the Quick Service Restaurant’s process driven operations. Education sector is also entering the stage of more professional management where it needs to enhance it and railways has a lot to learn in upgrading its customer experience from across other sectors.

Overall, different service sector players will learn from players within the industry as well as outside. This will further evolve the industry and help in redefining benchmarks.

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Source : IIPM Editorial, 2009

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

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High on Kingfisher’s flight...

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The beginning of FY’05 had liquor baron Vijay Mallya salivating at the prospect of ‘flying. So he launched his Kingfisher Airlines with an all-economy configuration and competitive pricing. The aim was to be India’s largest private airline both in capacity and market share by 2010. And despite all the problems it faced or losses it suffered, Mallya has successfully achieved his target. In January 2009, Kingfisher Airlines was standing tall as the numero uno private airlines with 27.6% market share leaving Jet Airways far behind with a mere 17.9% share. Not satisfied easily and bolstered by his domestic success, last year Mallya took Kingfisher Airlines to international skies. Drinking and driving don’t mix, they say. But we guess brewing (liquor) and flying do mix well. What say?

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

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WHERE’S YOUR BRAND, DUDE?

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Trade pundits believe that to make their mark in the cat-eat-cat world of the world’s billion dollar fashion business, desi designers need to take some risks and evolve contemporary strategies. With a sharp growth in the world’s millionaire population, the days when luxury was still exclusive are nearly over. In India itself, despite the slowdown, dollar millionaires are growing by the day. Clearly, it’s time for crafted sophistication and exclusivity to give way to creating brands for the fast-growing premium segment of the market, mass-marketing and profit margins. The queen bee of Indian fashionistas, Ritu Kumar, who kicked off her show at the recently concluded Wills Lifestyle India Fashion Week (WLIFW) with her new ready-to-wear, lesser priced collection, takes not a moment to agree. “We have to break the barrier that fashion is only for the rich and make it more affordable to the Indian market,” says the lady behind the 40-year-old House of Ritu Kumar, one of the oldest designer labels in the country.

Like Kumar, most India-born designers began launching prêt lines a few years ago to cash in on this growing market. Rohit Bal (Balance), Raghavendra Rathore (Inde Prêt), Kiran Uttam Ghosh (Kimono) and Rocky S (Rocky S Jeans) are among those that capitalised on the opportunity early and are still reaping the benefits. Many others, despite launching their prêt lines, have faltered in evolving simultaneous distribution reach and logistics paraphernalia. Calvin Klein and Ralph Lauren, for example, obtain over 85-90% of their sales via a network of departmental stores and shop-in-shop formats. In contrast, unable to stitch up deals with corporate retailers, many designers continue to sell only through their own niche couture outlets – which are limited in number and reach. “Brands like Prada and Hugo Boss became famous, not only because of their designs but also because they are supported by strong logistics & retail. In India, the retail revolution has just started,” says stylist Raghavendra Rathore.

Says designer Anita Dongre, “To appeal to buyers, you need to be unique in your offerings. To create a popular brand, you will have to figure out the budget suitable to the various target segments and create brands accordingly.” In tune with her logic, Anita too has created five brands of her own, of which ‘And’ is for the masses and ‘Timeless’ (priced at Rs.50,000 and above) is for the classes. Agrees the spokesperson for US-based Anthropologie, a buyer at WLIFW, “I feel you need to have a USP or specialisation to create a proper brand, I mean if I am here to buy something from the designers, I am looking at what unique collection he can offer to my store.” Anita’s strategy is reminiscent of the one followed by legendary designer Giorgio Armani (turnover of three billion euros today) almost two decades back and has paid off. Her organisation has been growing at 50% y-o-y. Even maverick designer Manish Arora has loaded his brand portfolio with diverse offerings across price points. Insiders say that Manish (along with Ashish Soni) has bagged maximum orders from global buyers in the WLIFW despite the slowdown. Read more

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

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Microsoft Xbox 360

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Technical Specification

Hard Disk – 20 GB removable; RAM – 512 MB
PRICE: Rs.19,990
WARRANTY: 1 year

With a 20GB HDD capacity and a 512 RAM, the Microsoft X360 has a video output capacity of 256-bit - 2D/3D graphics acceleration and a cracking sound output of 16-bit Surround sound. It features 3 PowerPC-based cores running at 3.2 GHz. Plus, it has a 500-MHz graphics chip. With Microsoft backing up in technology terms, the 4.5 kg Xbox 360 has indeed done enough in terms of performance to give its competitors some sleepless nights... Xbox is the first company to advertise so aggressively in the gaming sphere in India and it has paid them off too. As Rahul Dutta, Marketing Manager, Xbox states, “The Xbox provides you the complete family entertainment which makes it an attractive product.” Adding to it Gagandeep Sapra, Chairman & CEO, System 3 Group asserts, “The realism in the games is what makes it a value for money purchase.” With many renowned titles like Halo, Ace Combat, Ninja Gaiden et al, Xbox 360 is no less than a cult!

Marketers’ delight: The product has a strong brand name associated to it and its earlier versions are tried and tested before...

Tester’s note: Pros – Friendly user interface, Mass market appeal, Seamless online connectivity. Cons – High price, needs a killer application to run, demands a high-definition TV monitor.

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Source : IIPM Editorial, 2008

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

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iPod Touch 16GB

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Technical Spcification

Backlight - Lines of text: 7 - Resolution: QQVGA, 160 x 128 pixels, 65K colours; Type: LCD - Diagonal screen size (inch): 1.8 inch; Memory- 2GB ; Data can be transferred using USB 2.0
PRICE: Rs.5,000 without taxes
WARRANTY: 1 year (on site)

With a cult behind it, the Apple iPod is one with the killer looks. This most recent version too is a perfect piece to pick up for music lovers. Apart from a great sound quality, the iPod touch has a whole new generation of features including gorgeous 3.5-inch wide-screen display and a built-in accelerometer. “The iPod touch is a landmark iPod, ushering-in a whole new generation of features based on its revolutionary multi-touch interface and built-in Wi-Fi wireless networking,” says Steve Jobs, CEO, Apple Inc. The iPod touch includes Wi-Fi wireless networking, the first on any iPod. The iPod touch is an unbelievable 8 mm thin, and is caries a decent price tag. As far as the amazement factor is concerned, Steve remarks, “People are going to be amazed at how thin it is and how much it does.”

Marketers’ delight: After introducing the iPod shuffle, this one is another piece of art by Apple.

Tester’s note: Pros – Multi-touch display. Wi-Fi access. Excellent user interface. Easy to browse. Access to YouTube content. Slim. Cons – Can’t purchase video via WiFi. Earpiece is anything but impressive (sucks?!).

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Source : IIPM Editorial, 2008

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

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Change beckons

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The tectonic shift in power equations did not end with the auto sector. Even in consumer durables the First World has lost out on its stronghold

From 1945 till the early 1970s, American and European consumer durable players were dominating the sector globally. GE, Westinghouse, Maytag, Whirlpool, Electrolux, Thomson, Philips, Grundeig, to name a few were at the forefront of the durable sphere of the world. However, during the mid-60s Japanese players like Sony, Toshiba, Hitachi and National arrived on to the scene. But these players were treated in a derogatory manner by the western consumer durable giants. They were considered to be poor quality imitations by the western consumers. Only the less affluent could afford their products; the premium class looked down upon them. And at this juncture, players like LG & Samsung were never even heard off.

But gradually by the late 1960s a kind of shift started taking place. Japanese players started improving the quality of their products. They came up with well though-out strategic & marketing plans. Suddenly, by the early 1970s, one could see consumers’ outlook towards these companies changing. A tectonic shift in the power equation happened with the launch of the Sony Walkman, which is heralded as the harbinger of Japanese supremacy in the durable space. After Walkman, innovation was no longer the domain of just the western world. The Japanese had arrived with a bang. Sony’s rise is heralded as the rise of not only Japan but had also of Asia in this sector.

According to Jagdeep Kapoor, CMD, Samsika Marketing, “There were mainly three reasons for the shift in consumer preference from American & European goods to the Japanese – affordability, quality and the sense of novelty. And 1973 was a period when consumers wanted innovation and quality and were not bothered where the brand was coming from. US marketers failed to create adaptability between the brand and the consumer. The Japanese took advantage of this and therefore succeeded.

Till the 1990s, Japanese players completely dominated the durable space and the American & European players were nowhere in the picture. However, by early 1990s, the Japanese economy went into a tailspin, another shift occurred and this time it was the Korean chaebols LG & Samsung that took the electronics world with surprise. In just a matter of few years, they overthrew Sony and became the top two globally. The 1990s and the first decade of 2000 have been completely dominated by LG & Samsung. But by 2010, another shift will happen that has already started to make waves.

Indian & Chinese consumer durable companies are now inching their way upwards to book their seats in the top echelons of consumer durable space. Chinese players Haier (with its acquisition of Maytag) & Lenovo (with its take over of IBM’s Personal Computing Division) are creating ripples globally. Currently, Haier is the no. 2 player in the US.

Indian companies are not too far behind. Videocon has already taken over Thomson’s picture tube unit and the marketing rights of the iconic Electrolux brand in India. Despite its failed attempt to acquire Daewoo Electronics Corp. of Korea, it has not given up on its acquisition spree. The company is now making waves after announcing its intentions to buy Motorola’s handset unit. Even players like Godrej Electronics, Mirc Electronics (owners of Onida) and BPL are making strong comebacks. Undoubtedly, the next few years will see the rise of Indian & Chinese players in this space. The tables have decisively turned!

By vareen ray

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Source : IIPM Editorial, 2008

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

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RON SOMERS - Building bridges with diplomacy

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RON SOMERS
Building bridges with diplomacy

Ron Somers, a known figure in Indian Business circuit has previously served in Unocal Corporation as its CEO in India where he helped develop business opportunities in India’s promising energy market. Prior to that, Ron Somers served as MD of Cogentrix Energy, where he facilitated the setting up a 1000 MW electric power project in Karnataka. Currently, Ron serves as head of the Manhattan India Investment Roundtable in New York that comprise of the top 20 Fortune 500 financial service institutions, banks & insurance companies investing in India. A seasoned India-hand, Ron will be India’s man in Washington in the coming decades. His relations with Fulbright Scholarship endowment program will also help Indian students make it big in US. In fact, Ron is known as a ‘Friend of India’ in the US business circuit. Payal Tak, one of the leading women entrepreneurs in Washington area says that Ron is “one individual who is the primary link between the US and India and is a man who has potential to change the dynamics of the relation between the two countries.”

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Source : IIPM Editorial, 2008

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

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KIRAN KUMAR GRANDHI - Port of good hope

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KIRAN KUMAR GRANDHI
Port of good hope
The first glimpse for many foreigners coming to India for the Commonwealth Games (CWG) 2010 in New Delhi will be its modern and swanky airport in Delhi. And working hard and fast to complete it on or before time is Kiran Kumar Grandhi, the Managing Director of Delhi International Airport Pvt. Ltd.

If the performance of Grandhi as MD of GMR Hyderabad International Airport (GHAIL) in launching the Rajiv Gandhi International Airport, Hyderabad, is any indication, the visitors to the CWG 2010 will be pleasantly surprised. The airport was built in record time and will break-even in 2-3 years. To manage the PPP between GMR Group, Malaysia Airports Holdings Berhad, the state Government of Andhra Pradesh and Airports Authority of India (AAI), Grandhi had to draw on lessons learnt from his father, GMR Group Chairman & MD Mr. G.M. Rao. Aligning the board members and the government nominees was testing for the young man, just twenty eight years old at that time. The airports segment contributes over one-third of the group’s revenue and growth, and the group plans to expand strongly in non-aero businesses, as well as expand geographically in south-east Asian countries. In addition, the company will set up a 3300 acre SEZ (Special Economic Zone) in Tamil Nadu. The group also plans to venture into the IT arena of Business Services Provisioning.

At the age of 21, Grandhi joined the family business and never looked back. His guiding principles have been perseverance and focus to deliver a quality product that meets world-class standards. Grandhi is surely going to need all this to put up a good face when the visitors start coming in for CWG 2010.

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Source : IIPM Editorial, 2008

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


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Health is Wealth

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‘Health is wealth’, and for those million of poor people ‘health is the only wealth’. The sole principle of the Bhore committee ‘no individual should fail to secure adequate medical care because of inability to pay for it’ remains unattainable in the country shamefully even after 60 years of independence. The Bhore committee in 1946 had recommended achieving minimum 567 hospital beds, 62 doctors, and 151 nurses per 100,000 populations. Unfortunately, the country has achieved 40 doctors, a mere 100 hospital beds per 100,000 populations. Thus it results in 2.2 million plus infants dying every year, 407+ mothers die due to pregnancy related causes for every 100,000 live births even today, 540 maternal deaths per 100,000 live births, over 0.5 million people die every year due to tuberculosis et al. Major damages happen to the rural India where health facilities are beyond the reach of common people.

Unfortunately, in such a big country like India, there are about 22,400 primary health centers, 11,200 hospitals, and 27,400 dispensaries. Though private players’ penetration has improved the health facilities in India, Bharat remains deprived of it. The country of a billion plus population has around 1.5 million doctors, 0.9 million nurses. Inspite of the fact that the rate at which India is producing MBBS is very low; limited seat availability for post graduate programmes is forcing many pass-outs to choose foreign destinations. In order to produce more quality doctors, 75 AIIMS like institute should be opened across India. In order to provide million of people medical facilities under one roof, 75 Special Hospitals Zones should be started, wherein almost all facilities and equipment should be available. Moreover, these Special Hospital Zones should have almost all form of specialised department. One more indicator to add salt to the wound is inadequate health insurance coverage where barely 3% of the countrymen are covered by social or private insurance.

However, the importance of health can never be ignored. Failure to provide health facilities will simply break the very foundation of the society. Hence increasing the numbers with adequate public-private partnership will help achieve at least what Mr. Bhore recommended 50 years ago.
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Source : IIPM Editorial, 2008

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

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The ‘once upon a time’ heroes are now sliders

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Temporary sliders are the exception. These former achievers enter in their descent for the long haul

Que: What do you do about an employee whose performance has declined from stellar to mediocre? Believe me, I have tried talking to this person for several times, but six months have passed with no improvement in results and he is beginning to affect the entire team. Is it time to let him go or what should I do? Please advice. (Anonymous, Nairobi, Kenya)

Ans: Six months of warning seems a little brief for a person who once turned in stellar results, but still, we’d have to answered yes to your question. But we feel you’re onto one of the incontrovertible facts of organisational life. It is very hard to reverse the course of a slider – and that’s what you have to do.

There are other problems also: A high achiever who has checked out and before they begin to suck the team into their negative energy field and drag it down with their poor example. Indeed, this we’ve seen it time and time again: Sliders pollute. We’re not suggesting, of course, that managers dismiss all their sliders at dawn. Sometimes high performers do hit a wall and need time to regroup and restart.

Consider this, they might be working through a personal crisis, like sickness or a divorce. Or they might be bored, and sincerely need your help finding more challenge or even other difficulties in their jobs.

But temporary sliders are the exception. Typically, these former achievers enter in their descent for the long haul. And the reason is not very difficult to understand from former achievers angle:

They think and strongly believe they can. That is, they perceive their previous glory protects them. And often, they’re not wrong. Many organisations do have employees that are sacred cows: the scientist who, 15 years back, discovered the breakthrough compound upon which the company is built; the art director who once won the industry’s biggest creative award and there are more.


There’s the slider whose protective armour is the company’s largest client, which loves him for a terrific idea he had five years ago, and the other side is, the slider whose claim to fame is that she was there, taking customer orders and volunteering for midnight pizza runs, when the company was first started in a garage. So, whatever is the reason, sliders usually begin their progression imperceptibly. One day, they start contributing a little less and usually start showing up a little less too. The result is that nothing happens – there may be a few hushed conversations, but no real consequences – and so the downward spiral will keep on continuing forever.

Eventually, the sliders’ under-performance and the organisation’s lack of reaction become embedded, and the sliders land in an awkward bubble of silence and acceptance. The problem with this dynamic, of course, is that sliders are often organisational heroes, especially to old-timers, and their behaviour sets the tone. For newer employees, who aren’t as familiar with a slider’s past glories, but the impact can be even more damaging and destroying.

Sliders show them that the organisation permits employees who are doing nothing. Either way, a slider’s mood and his under-performance can really change the pace and rhythm of a business. They round off the edge you need to win. It doesn’t sound like you’re there yet with your slider, but chances are high that you will be before long. So, yes, let him go now so he can find an organisation that re-energises him. And know that in doing so, you’re sending a critical message to the organisation. When it comes to performance, the past may be nice to recall, but nothing matters like the present, so focus on that.

Que: This month, after nine long years of education in the United States, I return to my family company, where my father has asked me to lead a major turnaround. It’s a major challenge as most of the upper management team remembers me as a boy of 17. What advice can you give me to change this perception? ( Alister Aranha, Dubai, United Arab Emirates)

Ans: First and foremost, recognise that the management team that remembers you “as a boy” knows full well that you are an adult now – and you’re back to take over and lead. Indeed, they’ve been expecting your return for a long time. And most of them, if not all, are ready to fall into line and listen to you.

For that, perhaps some credit goes to your hierarchical culture. But even if you weren’t returning to the Middle East, employees at most family companies know the score. You’re the boss now.

Our advice: Do not go heavy on establishing your authority. Instead, spend your time listening to your new team, show your care, demonstrating how eager you are to hear their perspectives and engage their intellect.

Make sure they know you are truly open to new ideas. Show them you are not a know-it-all, but a learn-it-all. Look, if you’re going to turn your company around in the next few years, your new job is really very straightforward and be focused to it. You’ve got your people’s bodies. Now win their hearts and minds and that’s not difficult for you.

Jack Welch & Suzy Welch

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Source : IIPM Editorial, 2008

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

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Back to square one!

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Bush performs another peace ritual in Palestine towards the fag end of his presidency even while the region continues to burn

President Bush wrapped up his Israel trip last week, visiting the Mt. of Beatitudes in Jerusalem where Jesus is believed to have said “blessed are the peace-makers” & ruins of the biblical city Capernaum on the Sea of Galilee. Quite symbolical a start is for a man who has waged two ugly wars in the name of fighting terrorism. Given the past seven years in power, nobody would doubt Bush’s ability to make rhetoric on all the issues, whether it is the domestic economy, ‘war on terror’ or the West Asian peace process. Does his recent visit to the Holy Land mean anything other than a damage control exercise organised by conservatives in the White House?

Well, before the November 2007 Annapolis peace conference, observers had issued sceptical notes against Bush’s diplomatic gambling. Invariably, American presidents in their last year in power, use soft hands in dealing with the West Asian conflict. And now, it’s Bush’s turn. After holding talks with Palestinian Authority (PA) President Abu Mazen in Ramalla, West Bank, Bush challenged the “sceptics” saying, “I believe it’s going to happen that there will be a signed peace treaty by the time I leave office.” Is it as easy as taking a decision to bomb a weak Saddam Hussein regime in Baghdad? Many experts would disagree. Speaking to B&E, the Director of Gulf Studies Programme at JNU, Prof. Gulshan Dietl said, “Bush’s political clout is weaning tremendously. This visit is a theatre set for his own personal history.

Not only that, the leaders who have to reach an agreement are domestically too weak to take any decision. So, this visit is not going to change anything in the ground.” Two months after Annapolis, it’s obvious that the US & Israel are unlikely to take any step beyond their conventional understanding of the national identity of Palestinians. All this is happening amid reports that Israel, with the tacit support of the PA, would attack and reoccupy the Gaza strip, which has been under the control of Hamas since last June. Hamas on the other side declared, “The only dialogue with the enemy will be with rifles & rockets.” If Israel is going to do that, the entire region would be plunged into a civil war. Even if the PA, by any chance, reaches a political agreement with Israel, as years go by, the number of “core issues” only goes up, not down.

B&E edit bureau: John Stanly

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Source : IIPM Editorial, 2008

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

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We’ll rein in the horses, err... as soon as we find them!

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When announcing Japan’s surrender in 1945, Emperor Hirohito famously explained his decision thus: “The war situation has developed not necessarily to Japan’s advantage.” There was a definite Hirohito feel to the explanation Ben Bernanke, the Fed chairman, gave this week for the Fed’s decision to modestly strengthen regulation of the mortgage industry: “Market discipline has in some cases broken down, and the incentives to follow prudent lending procedures have, at times, eroded.” Rather, the explosion of “innovative” home lending in the middle years of this decade was an unmitigated disaster. But maybe Bernanke was afraid to be blunt. After all, straight talk would amount to a direct rebuke of his predecessor, Alan Greenspan, who ignored pleas to lock the barn door while the horse was still inside.

Apologists for the mortgage industry claim, as Greenspan does in his new book, that “the benefits of broadened home ownership” justified the risks of unregulated lending. But home ownership didn’t broaden. The great bulk of dubious subprime lending took place from 2004 to 2006 – yet home ownership rates are already back down to mid-2003 levels.

During the bubble years, the mortgage industry lured millions of people into borrowing more than they could afford, and simultaneously duped investors into investing vast sums in risky assets wrongly labelled ‘AAA.’ Regulators were blinded by ideology. “Fed shrugged as subprime crisis spread,” the headline of a New York Times report, may have been a discreet dig at Greenspan’s history as a disciple of Ayn Rand, the high priestess of unfettered capitalism. In a 1963 essay for Rand’s newsletter, Greenspan dismissed as a “collectivist” myth, the idea that businessmen left to their own devices, “would attempt to sell unsafe food & drugs, fraudulent securities & shoddy buildings.” Rather, “it’s in the self-interest of every businessman to have a reputation for honest dealings & a quality product.” No wonder he ignored warnings of deceptive lending practices.

But Greenspan wasn’t the only one. Consider the press conference on June 3, 2003 to announce a new initiative to reduce the regulatory burden on banks. Representatives of four of five government agencies responsible for financial supervision used tree shears to attack a stack of paper representing bank regulations. The fifth, James Gilleran, Office of Thrift Supervision, wielded a chainsaw. Also attending were representatives of financial industry trade associations. As far as I can tell from press reports, consumer interests weren’t represented. Two months after that event, the Office of the Comptroller of the Currency, one of the tree-shears-wielding agencies, moved to exempt national banks from state regulations that protect consumers against predatory lending.

The Democrats must aggressively make it an issue for the 2008 election. There’s hardly a more graphic demonstration of what’s wrong with their opponents’ economic beliefs.

Paul Krugman

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Source : IIPM Editorial, 2008

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

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Oil never melts in water

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Water scarcity may lead to doomsday, globally

Geo-politics with water is a new concern, albeit it takes the second fiddle to oil as a political tool. Fresh water is only 0.4% of the total water bodies on Earth and its availability is decreasing, by 30% to 40% over next 20 years. Middle East, though oil rich, is not water rich. This region has 1% of total water reserves, being shared by 5% of world’s population, it’s home to. The politics over water in Middle East has already started. As always, Israel is the bully in the region, depriving Jordan, Syria & Palestine of their due share of water. In 1994, Israel and Jordan signed a ‘peace treaty’ in which Israel promised to provide 50 million cubic metres of water per year. Israel changed like a chameleon, refusing to honour the treaty in 1999. Back home, there was a conflict of interest between India and Bangladesh over water sharing of Ganga. The construction of Farakka Barrage, became bone of contention between the two. An amicable agreement was reached in late 1990s to share the water more equitably. The misuse, pollution and wastage of water is making it a scarce to humans. The alarm bell is ringing, where mankind should act fast or repent.

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Taking things easy

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How much does the fuel price-rise affect the business?

A lot! If there is fuel price rise, we will definitely be forced to levysurcharge and the tickets will get costlier. This eventually results into a loss of business.

Is Kingfisher Airlines looking for ward to hedging the fuel in future. Oil prices have soared tremendously in the past?

Yes! We can go for hedging and are looking into the matter. But nothing has been decided yet, as no one knows which way oil price will go.

Any plans to cut flights?
Not taken any decision on it yet. But if the ATF price does not stabilise then we will for sure. Since there is fixed cost involved with every flight, if losses would increase due to fuel, we will be left with no other option but to do that.

According to you, what are the issues which need to be urgently addressed in the current scenario, when the sector is facing losses?

Rationalisation of fuel, reduction in the sales tax, modernisation of airports by investing more and route dispersal guidelines are the key ones. I think there should be no route dispersal guideline at all. There should be free routing for all and one should be allowed to add and reduce as many flights according to the needs commensurate with profits and losses. Compare with China we are no where near in terms of infrastructure.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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Tamil Nadu

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It’s called the Detroit of Asia. So, what is it that makes it a favoured destination for trade among investors, explores surbhi chawla ...

Nicknamed as ‘The Detroit of Asia’ Chennai, the capital of Tamil Nadu, has always been a prime manufacturing location in the country. Even during the British era, the region was an important trading centre for raw hides and skins. Although leather still continues to be a significant part of the trade from this region, keeping up pace with the changing time there are many new avenues for trade that are coming up. In fact, today Tamil Nadu is one of the highly industrialised states of the country, has attracted over Rs.190 billion through FDIs, only in the past two years and has generated employment for nearly 140,000 people in the country.

Global companies like Ford, Renault, Nissan, Caterpillar, Hyundai, Komatsu, BMW, Mitsubishi, Ashok Leyland, Royal Enfield, Mahindra & Mahindra, TVS, et al have already set up manufacturing centres in the state. As a result it is also come up as a breeding ground for many auto ancillary companies. Moreover, the latest company to pour money into the state is Renault-Nissan, who has kicked off their operations at Oragadam near Chennai. They are expected to pump in $1.2 billion and are planning to produce about 400,000 cars a year from its facility that spans across 678 acres.

Certainly, the state had always housed many heavy engineering and manufacturing-based companies and seeing this even companies in electronic manufacturing such as Nokia, Flextronics, Motorola, Sony-Ericsson, Foxconn, Samsung, Cisco, and Dell have chosen Tamil Nadu as their South Asian manufacturing hub. “The major reason for Tamil Nadu having presence on the international map is because of the transparent and responsive government. We have got a new industrial policy and one of the objectives of the policy is to spread the impact of industrialisation throughout the state by following suitable strategies,” M. F. Farooqi, Industries Secretary, Tamil Nadu tells 4Ps B&M.

Moreover, availability of trained people also enables Tamil Nadu to contribute its bit in the IT and BPO sectors. Tamil Nadu is the third largest software exporter by value in India. In fact, software exports from Tamil Nadu have zoomed to Rs.207 billion in 2006-07 from a miniscule Rs.76 billion in 2003-04 (NASSCOM).

Coming back to industries, “this year alone 14 MoUs have been signed till now and another 14 MoUs are yet to be cleared. Tamil Nadu government has set a target for industrial investment in 2008 at Rs.300 billion. What’s more, the state accounts for 33 Notified SEZs. Besides, 59 SEZs have got formal approvals and 12 projects have got GoI’s in principle approval,” avers Farooqi enthusiastically. Even, according to CMIE, in May 1996, investment in pipeline for Tamil Nadu was Rs.906.5 billion, in June 2006 it was 1,735.29 billion; and by March 2008 it shot up to 3,487.04 billion. In the last two years alone the investment has grown by over 100%.

Although people would normally not associate tourism with Tamil Nadu, still the state has been taking initiatives to promote it. “The year 2006 registered a remarkable increase of 21% in tourist arrivals in Tamil Nadu. In 2007 the state received 5,235 million tourists, which was an all time high growth of 29.2%. It was due to many new initiatives like ‘Virunthinar Potruthum Virunthinar Potruthum’ (Guest Care) campaign policy blitz-krieg, cultural festivals et al”, V. Irai Anbu, Secretary, Tourism and Culture shares with 4Ps B&M. To boost the tourist inflow in the state, the government is also looking at new and emerging forms of tourism like Eco-Tourism and Rural Tourism. The tourism department is also creating awareness by conducting commercial and advertising campaigns. “To promote local guest care a lot of word of mouth publicity is being done,” M. Rajaram, Commissioner of Tourism tells 4Ps B&M.

Certainly, the state has always remained at the helm when it comes to industries. However, the major bottle neck that is hampering the pace of industrial development in the state is infrastructure. But once taken care of, this Detroit of Asia certainly has no stopping it!

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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