IIPM - Premier Management Institutes in India

Tuesday, December 12, 2006

The Rs.25 billion worth Crompton Greaves....

The group’s other mainstay – the Rs.25 billion worth Crompton Greaves – too, despite having the largest domestic capacity for electrical equipments, is plagued with technological obsolescence. Inder Mohan, however, seemed to be luckier with KCT Coal, still cash rich with Rs.12.5 billion in reserves. However, it is not beyond common comprehension that this unit too is withering away with sales tumbling down to Rs.17.9 billion during 2005. Then follows the sad story of Man Mohan with his post-1992 attempts to walk away from ill-timed diversifications adding no mirth to his music. Thapars – a group once considered to be invulnerable (so much that even when the then group’s primary business was hit by nationalisation of coal in 1973, few ever considered its future prospects weaker by an ounce) is now accelerating towards being benchmarks of how family businesses break apart... and how they become a part of history, and not of future.

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Source: IIPM, 4Ps, B&E

Wednesday, October 11, 2006

Media-planning goes for a makeover

Will this fresh wave wipe out traditional media-buying as we know it?

In what could only be described as a sensational swoop that created more than a few shockwaves across the advertising world, Sony Entertainment Television (SET) and advertising agency Dentsu India recently put pen to paper on a Rs.500-crore contract for two premier events pertaining to the sporting universe’s flannelled favourites. Hitherto unprecedented in the history of the Indian ad-world, this agreement deals with television advertising inventory for the big-ticket 2006 Champions Trophy and the 2007 ICC World Cup to be staged in the balmy islands of the West Indies. Ironically, Sony has been finding few takers for its exorbitantly-priced prized offering, and it would suffice to say this deal has created more than a few jitters among agencies. The deal hinges on Dentsu taking SET’s ad minutes on air for the specified amount of Rs.500 crore, and Dentsu stands to gain a cut of the Champions Trophy and World Cup ad time on the telly at a price pegged at a good 10-15% lower than the full tariff. This cut can then be leveraged to best effect and sold off at a premium in the open market at any given time.

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Source: IIPM Publication

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Monday, September 04, 2006

Cooley exemplified a fundamental principle that separates those who build great companies from those who do not – the “First Who” principle. First get the right people on the bus, the wrong people off the bus, the right people into the right seats – and then figure out where to drive the bus. Before deciding that someone is the wrong person on the bus, the best leaders we’ve studied first ask: “Do we have a bus problem or a seat problem? Do we have the right person, but perhaps in the wrong seat?” Still, that leaves the question: What makes for the right people on the bus? My research on this would suggest five generic traits:

1. The right people fit the company’s core values.
Great companies build tight, almost cult-like cultures, where those who do not share the values of the institution find themselves surrounded by the antibodies and ejected like a virus. At Nucor Steel, which cultivates a core value of passionate work ethic, workers reportedly once chased a lazy teammate right out of the plant with an angle iron. People oft en ask, “How do you get people to share company’s core values?” The answer: You don’t. You instead hire those people who already have a predisposition to the core values, and hang religiously on to them.

2. The right people don’t need to be tightly managed.
The moment you feel the need to tightly manage someone, you might have made a hiring mistake. The right people don’t need to be tightly managed. Guided, taught, led – certainly, but not tightly managed. If you have the right people on the bus, you don’t need to spend a lot of time “motivating” or “managing” them. They will be productively neurotic, self-motivated and self-disciplined, compulsively driven to do the best they can because it is simply a part of their DNA.

3. The right people understand that they do not have “jobs”; they have responsibilities.
Suppose an air traffic controller said, “I did all the tasks on my list right today,” but the airplanes crashed. Would his argument be valid enough? The right people grasp the difference between their task list and their true responsibilities (in this particular case getting the airplanes up and down safely). A great company cultivates a culture of discipline – composed, first and foremost, of disciplined people who engage in disciplined thought and disciplined action. The cornerstone of a culture of discipline is the very idea of operating freedom within a rigorous framework of responsibilities.

4. The right people display “windowand- mirror” maturity.
When things go well, the right people will point out the window to apportion credit to factors other than themselves. They shine a light on the other people who contributed to the success and choose to take little of the credit. Yet when things go awry on the other hand, they do not blame circumstances or other people for setbacks and failures. They point in the mirror and say, “I am responsible.”

5. The right people have passion for the company and its work.
Nothing great happens without passion, and the right people display remarkable passion for the company and its cause. If you cannot get passionate about the company and what it does, then it’s better to leave the bus rather than to languish in a company that inspires no passion, and be engaged in work that you do not love. David Packard, founder of Hewlett- Packard, once famously said that a great company is more likely to die of indigestion of too much opportunity than starvation for too little. Our research supports Packard’s point, and leads to one irrefutable conclusion: The primary constraint on growth and success for a great company is not markets, or technology, or opportunity or capital. The greatest constraint, above all, is the ability to attract and retain enough of the right people into the key seats. What are the key seats on your bus or minibus? Do you have 100 percent of those seats filled with the right people – not 70 percent, not 80 percent, not 90 percent, but 100 percent of the key seats? If not, then you have no higher priority for now.

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Editor: Arindam Chaudhuri

Source: IIPM Publication

Thursday, July 13, 2006

The government's tax collection efforts has come from Special Economic Zones :: IIPM Editorial

There isn't much the government can do.” Another suicidal blow to the government's tax collection efforts has come from Special Economic Zones (SEZs), which, rather than increasing collections, unfortunately have turned out to be a tax shelters, and have even resulted in investment diversions, rather than investment creation. In fact, in the meeting of empowered group of ministers with respect to SEZs, held on June 6, 2006, the Finance Ministry forcefully differed from the move put forth by the Ministry of Commerce to allocate even smaller areas of land for single product zone than currently being given. The Finance Ministry claimed it would lead to a massive loss in tax revenues as even more companies would then join SEZs to escape taxes. The dream for better trade is actually turning out to be a nightmare in terms of revenue collection, as it could even affect the government's fiscal management programme. Unless this loggerhead paradox is resolved at the soonest by the Finance and Commerce Ministries, it is tough to tell who would lose the most – fiscal prudence, or economic growth?

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Source: IIPM Publication, Editor: Arindam Chaudhuri

Thursday, June 22, 2006

IIPM Editorial : George W. Bush’s last visit to India

US President, George W. Bush’s last visit to India (March 2006) is fondly remembered by Indians for the signing of the historic nuclear deal between the two countries. Huge debates and banner headlines followed in the print media and so did maddening coverage by television channels. And why not – it had controversy, it had debate, and it had drama, the ideal concoction to grab public attention. During the same visit though, another quite significant deal was accomplished, which the media largely ignored. Bush and Indian Prime Minister Manmohan Singh signed what is known as the ‘Indo-US Knowledge Initiative on Agriculture Research and Education’, an agreement which aims to bring in a Second Green Revolution in India. “This initiative will invest $100 million. By working together with the United States, India will develop better ways to grow crops and get them to market, and lead a second Green Revolution,” said Bush in his momentous speech at the Purana Qila in New Delhi.

Tuesday, May 23, 2006

IIPM EDITORIAL >> Phil Knight, Didn’t Do It

“Play by the rules. but be ferocious”
At an age when the normal man retires from job, leaders continue to work hard. Still at the helm of Nike, the world’s leading athletic shoe company, Phil Knight is an anomaly and just refuses to do it, that is, resign. A business administration graduate of the Oregon University, he went on to complete his MBA from Stanford University. In fact, the corporation Nike had its origin in a research paper by Phil in his MBA class about dethroning the then ruler of the sports shoe market – Adidas. He figured that if cheap shoes could be imported from Japan and sold in the US, it would surely pose a threat to the market leaders. In 1964, he started importing shoes from Japan in his spare time from his job at an accounting firm. The company was then known as Blue Ribbon Sports. Nike – which literally means victory – finally started living up to its name when it overtook Reebok. But it was when Knight succeeded in dislodging Adidas as the ruler of the market in the 1980s, that history was truly & proverbially, re-written. Knight refuses to believe in any of his CEOs and regularly kicks them out. Well, ‘not doint it’ seems quite a great tactic for a change.

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Source: IIPM Editorial

Tuesday, May 16, 2006

Indians have been gobbling up gold... (IIPM Publication)

In the East, Malaysia proposes an Islamic gold dinar. The biggest winner of such moves will be the Indian saver. Indians have been gobbling up gold to the tune of 600 tonnes annually recently, taking advantage of the dumping of gold by European central banks since 1999, which cost Britain alone more than 6 billion pounds; 6 billion pounds that are probably stored under Indian mattresses now. The advice in this case is easy: Lay back and don’t sell. It would be mighty interesting to note, and not without surprise though, that if one were to have invested in gold since the year 1971, the person would now look at a total return of more than 1,700%, easily outperforming all other investment classes. And the party has only begun!

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Source: Publication, IIPM

Wednesday, May 10, 2006

Shah Rukh Khan will end up losing his lucrative endorsement contract for Hyundai cars! (IIPM Editorial)

Why should Shah Rukh Khan be worried if a gentleman called Chung Mong-koo is arrested in far way Seoul in South Korea? Well, the link is between the Zing thing and the sunshine car Santro. Chung Mong-koo happens to be the Chairman of the Hyundai conglomerate – Asia’s largest automobile manufacturer – and has been arrested by South Korean authorities on charges of bribery and embezzlement. If the scandal escalates and Hyundai does unravel as a result of this, Shah Rukh Khan will end up losing his lucrative endorsement contract for Hyundai cars! At the moment, the very thought of Hyundai India – the number two car company in the country – getting into any kind of serious trouble does appear outlandish and far fetched.

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Source: IIPM Editorial

Tuesday, March 28, 2006

China will lead to more than 10 million workers looking for new jobs

Though reliable figures are hard to come by, it has been estimated that the eventual and inevitable closure of state run factories in China will lead to more than 10 million workers looking for new jobs. They will swell the already growing pool of rural labour that is flocking to cities to earn a livelihood. Clearly, a pressure cooker situation that threatens to explode if the dispossessed start believing that there is no economic future for them in the new China. Mightier Chinese empires have disintegrated. Hu Jintao’s place in history will be decided by this: how does one balance the capitalistic need for sustained GDP growth with the need for social justice?

Source: IIPM - Business & Economy

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Tuesday, March 21, 2006

Business Magazine - IIPM

But whether that means it will rise in relation to other currencies depends upon whether their intrinsic flaws are seen to be less pressing than those which afflict the Greenback, or upon the specific likelihood that politicians and central bankers elsewhere in the world endorse the follies of the US through their imitation.

Source: IIPM - Business & Economy

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Wednesday, March 15, 2006

IIPM - Premier Management Institutes in India

Editorial - IIPM

If so, then Hollywood’s cartoon-like caricatures of evil multinational corporations may some day seize mainstream consciousness, leading to political upheavals that shatter today’s social contract. That won’t be good for profits, or for the poor. Governments and corporations must find better ways to provide equal opportunity through improved education, broader financial markets, and other channels. Otherwise, globalisation’s storyline may not proceed according to the script.

Source: IIPM - Business & Economy

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