FORTIFYING BATTLEMENTS

Down, yes! But, certainly not out It’s true that Swiss major Holcim has literally rocked the Indian cement sector with its aggressive takeovers of Gujarat Ambuja and ACC, but the Birla flagship company Grasim industries is bracing itself to regain its hitherto unchallenged dominance. On August 28, 2006, at Ultratech Cement’s AGM, Chairman K. M. Birla announced a capex of Rs.14.24 billion, to be employed over the next three years. Elaborating further on the investment, Birla stated, “Of this (investment), Rs.844 crore is towards the installatio of captive power plants at units in Gujarat and Chhatisgarh... we will additionally invest Rs.1,274 crore towards a 4 mtpa capacity expansion at UltraTech’s plant in Andhra Pradesh.” The group plans to ramp up its cement capacity to 45 mtpa by the financial year 2009.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

NIIT's Alliances

NIIT’s alliances include those with Oracle, Sybase, Cincom Systems, Singapore Airlines, et al, for providing cohesive technologies and product development across the world. And despite the recent slowdown, NIIT is looking actively at reinforcing its education business alongside other forays. Says MD, Rajendra Pawar, “We are not looking at any restructuring for our education business. What we are looking at is just reinforcement. In the near term, we want to increase the size of the pie for ourselves. We want to focus our energy on getting a larger share of the pie when it starts increasing in size.” A salute to the pioneers of private IT education!

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

Sensex Crash

Says Vivek Kudva, President, Franklin Templeton Asset Management (India) Pvt Ltd: “We believe that the growth story of India is intact and a GDP growth of 7-8% is quite achievable.” The Sensex closed the week ended September 22 on 12,236 only, 376 points away from its previous all time high of 12,612. The downturn in May saw the Sensex crash to a low of 8,929, putting an end to its marathon bull run. But things have improved since then and the Sensex has recovered by almost 37% from the lowest point of the May downturn. Definitely, markets are recovering from the mayhem of May and the mood seems to be perfectly set for bulls to stretch the limits once again. Of course, one can never say with any certainty that the upswing in Dalal Street is a durable phenomenon.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

Marketers

The report is pertinent for marketers across products & services. In fact, these revelations should push marketers to change their strategy according to the changing dynamics and spending habits of this group. The report points out that a company has to guard its brand very carefully and never let it deteriorate in the minds of the customer, making the ordinary, extraordinary and finding new ways to offer luxury and focus on building long term relationships with customers. It’s an all new mindset, and is here to stay and only grow with time. The trick, for marketers, is to adapt quickly and cash in!

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

Connection War!

While the listed market leaders – Airtel and Reliance – can afford to rest easy in the short run, this aggressive stance of Spice Telecom should come as a warning for the unlisted national players like Idea Cellular and Hutch to hop onto the expansion bandwagon as soon as possible, or risk losing out to a relatively small player about to play its cards soon.

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Source:- IIPM-B&E , Initiative:- Prof. Arindam Chaudhuri - 2006

Scandinavian Country

Imports too increased by 6.8% in 2005, reaching $152.25 billion. The import basket largely comprises of machinery, food products, crude oil, textile products and footwear. Being a member of EU and a Scandinavian country, most of Swedish trade is with other EU and Scandinavian nations, with US, UK, Germany, Netherlands & Denmark being the main trading partners. In the second quarter of 2006, Germany displaced US, becoming the top trading partner of Sweden. In 2005, the Swedish manufacturing sector accounted for 18% of GDP, while the private service sector for 45%. Swedish industry exports almost half of the goods manufactured and portrays a huge breadth in terms of production and international operations.

For Complete IIPM – Editorial , Please Click on IIPM-Editorial Link

Source:- IIPM-B&E , Initiative:- Prof. Arindam Chaudhuri - 2006

Low-Profit Promoters

Look for ways to encourage low-profit promoters to do more business with you – as Amazon.com did with personal recommendations and incentives like premium shipping. You also have to figure out what would win them, and calculate if such investments make sense or merely “steal” resources from your core. Leading companies like GE, Intuit and American Express now deploy NPS. It helps you understand your core customers and design propositions to captivate them. By producing NPS data regularly, you’ll institutionalize a cultural shift , and make customer metrics as auditable & practical as financial ones like profit & return on equity. You’ll develop a capability to keep turning customers into advocates, leading you to lasting growth. And it all starts by asking just one question.

For Complete IIPM – Editorial , Please Click on IIPM-Editorial Link

Source:- IIPM-B&E , Initiative:- Prof. Arindam Chaudhuri - 2006

Joyous Flight For This Wadia!

As part of a group, which has a portfolio of some of the oldest companies like Bombay Burmah Trading Corporation (the second company to be listed on Stock Exchange) and Bombay Dyeing, the pressure of carrying forward an impressive legacy is obviously lying heavy on Jeh’s shoulder, a pressure that literally needs to be carried out gracefully. And his leadership mantra? “Leadership is how efficiently you drive the people, your people need to be given freedom,” says the handsome entrepreneur. And no... he’s not just a shrewd businessman, but also a philanthropist. He is working towards making 600,000 villages self-reliant and has, in addition, adopted 2000 villages under the Deendayal Research Institute. It’s not just a joyous flight for this Wadia!

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

Mukesh Ambani To Race Ahead of Anil

Clearly though, this imbroglio is just a continuation of the internecine battle between the duo. According to Jayant Pai, Vice President, Parag Parikh Financial Advisory Services Limited, “There may even be other parties working behind the scenes instigating the two. I do not foresee them working as a team in immediate future.” In fact, cynics see this controversy as a masterstroke by elder brother Mukesh to race ahead of Anil. With Reliance Retail rolling out soon, Mukesh will soon control a Rs.2,000 billion empire. If Anil’s ‘power’ dreams are stymied by gas, or the lack of it, he will find it extremely tough to play catch up. Is that the reason why the Anil camp is visibly bitter while the Mukesh camp is chilled out?

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

SOFTWARE

This failure can be somewhat generously described as a design and integration failure on the part of the drive manufacturer and the operating system manufacturer. Fortunately, I had routinely backed-up the hard drive using backup soft ware from another soft ware manufacturer. Unfortunately, the backup software had failed for the previous 4 days, and, as is oft en the case with soft ware that operates unattended, it did not warn me of the failure. Thus, I had lost four days of email and documents, quite a lot when one’s professional life depends on email and electronically created documents.

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

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Sabotage of Right to Information

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Odds are, pleas of people like Oswal from the textile industry would go in vain since the Left is unwaveringly opposed to labour policy reforms of any sort. Asser Assertively comments former Union Minister Rajiv Pratap Rudy: “This government clearly seems to be forgetting a fundamental truth: You can have economic development without social justice. But you cannot have social justice without economic development!” Such profligate spending and a thorough blind refusal to accept economic realities of a rapidly globalising world are enough cause for concern. What raises more alarming signals is the tendency of this government to go back to the bad old days of bureaucrats deciding what is ‘public interest’ and what is good and bad for citizens of the country.

The virtual sabotage of the Right to Information Act discussed above is just one instance of how unaccountable bureaucrats are determined to persist in their self image of being public masters rather than public servants. There is another more dangerous move. The government plans to table a new Bill in the Parliament that will allow a District Magistrate to shut down the operations of any television news channel. Most analysts had hoped that this kind of intolerant, paternalistic, authoritarian and mai baap government was surely history. Or is history repeating itself with a once upon a time champion of reforms Manmohan Singh being forced to become a reluctant Santa Claus?


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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

All India Traders

Sundaresan’s point could well put rhetoric to shame, considering the fact that there are clear indications that speculation is rampant. And least of all being the memorandum to the President of India submitted on July 5, 2006, by Confederation of All India Traders, who allege, “The regulator has totally failed to monitor abnormal increase in prices of commodities in the market.” And most of all, the following:

• The closing price for mentha oil in October 2005 was about Rs.450 per tonne; and the trading volume was ‘zero’. By March 2006, the volume traded in mentha oil had skyrocketed to about 400,000 tonnes and the price had gone up to more than Rs.800 per tonne. Most surprisingly, the price fell to Rs.420 (a sign?) in the next two months. Often, the volumes traded in commodity exchanges are 40 to 50 times the actual supply of the commodity.
  
• In turmeric, trading went on for more than one year without any physical delivery of the commodity.
  
• There are persistent allegations that about 250 small commodity traders across India have committed suicide after going bankrupt in 2005-06.
  
• The trading volume in the commodities exchanges went up by a staggering 274% in 2005-06. The rate of growth continues to be very high even now.
  

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Source:- IIPM-Business and Economy,

Initiative:- Prof. Arindam Chaudhuri

Swiss Economy

But the future is encouraging, as the OECD has forecast that the Swiss economy would show a 2.4% GDP rise in 2006. And this growth has been the outcome of its strong rise in exports and investment. The total exports of the country are estimated to be $122.08 billion in 2005 with a 7.1% rise in the first three quarters of 2006, specifically in sectors like mechanical and electronic engineered goods, tourism, foods, consultancy, insurance and chemicals. Swiss imports are estimated to be $115.6 billion in 2005. The country’s top trading partners are Germany, France, Italy, UK, and of course, the United States. Imports too have shown an increase of 8.3% over the past quarter. A free trade economy, highly skilled domestic workforce, low tax rates and high quality of life, make Switzerland an attractive centre for foreign investment, although investment inflows into Switzerland have had their ups & downs. The first three quarters of 2005 saw FDI inflow of $4.48 billion and outflow of $12.18 billion.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

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IIPM-News:- GSM Opens Up a Much Larger Market

Also, it could turn away prospective CDMA subscribers. On the positive side though, GSM opens up a much larger market. Does this decision by Reliance sound the death knell for CDMA in India? Opines Prashant Singhal, Head of Telecom Practice, Ernst & Young (India), “It is unrealistic to make fl at predictions as to which network platform will be a clear winner in the Indian telecom future.” Indian GSM players, in fact, will be planning to shift to wideband CDMA (wCDMA), once 3G makes its entry into India. In all probability, Reliance is readying itself for entry into the 3G sphere. So, notwithstanding the initial rumours, Anil’s move to GSM is not limited to the Qualcomm royalty debate. But, it must beware of sending unclear signals in the market regarding its strategy, lest it lose favour with its customers, who would be wondering what Reliance is going to offer them next. Anil has built an excellent momentum in the telecom market over the past year and he would not like to squander it away in a hurry.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

Brits attack NY!

Move aside CNN. The world’s oldest public-service broadcaster, British Broadcasting Corporation (BBC) is entering the US market, which has been CNN’s stranglehold for many years now. BBC launched BBC World in The Big Apple on June 1, 2006, in a bid to strengthen its foothold in the US. Says Rebecca Britton, Head of PR, BBC World, “Th e US is obviously a key market be cause of the vast competition. We want to tap the regional appetiser of the US.” Looking at various revenue models to fund this expansion, BBC, barred from accepting advertisements on its UK website (by its own incorporation charter), has zeroed in on selling advertising on its non-UK websites through its profit making arm BBC Worldwide.

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Source:- IIPM-Editorial, Editor:- Prof. Arindam Chaudhuri - 2006

CONVENTIONAL CATEGORIES OF TV

ARTICLE-IIPM KNOWLEDGE CENTRE

The decline is being attributed to a 19.8% drop in growth of ‘conventional categories’ (that is, normal TVs and not flat TVs) during the January to June period. Issues related to transition from a sales tax regime to the value added tax regime, and to the absence of any supporting event such as cricket or football world cup have been quoted as hurdles hampering the growth of this sector.


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Source:- IIPM-Editorial, Editor:- Prof. Arindam Chaudhuri - 2006

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Armstrong (IIPM)

Most mortals would have caved in under the prospect of such a travesty. But Armstrong was molded from an altogether peerless mettle and he drew upon all the reservoirs of strength at his disposal. Run-of-the-mill treatment would have devastated the functioning of his lungs, thus effectively ending his budding cycling career. Ergo he opted for a more rigorous regime of chemotherapy that would have a far lesser likelihood of impairing his lungs.

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Source:- IIPM-Editorial, Editor:- Prof. Arindam Chaudhuri - 2006

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Ever-palpable

Underscoring the ever-palpable – man’s eternal ‘greed for power’ – the environs of Nineteen Eighty-Four hammer a gloomy message home. 1984 is the most celebrated, and perhaps the most perceptibly true, utopian satire of all time… So there, I’m back to terra firma as it presents itselfon May 19, 2006 – in the ‘typical’ world – and dare I say, gratefully enough! The decision to choose between so-described ‘perfectionist’ living and the wrangling travails of modern-day existence is excruciating enough. For the moment, perhaps it’s wise to sprawl back and live the moment. ‘No place’, as Utopia translates to, is precisely where it exists...!

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Source:- IIPM-Editorial, Editor:- Arindam chaudhury-2006

The Samurai Succumbs

They still call it a crisis; but its catastrophic consequences deserve more than just being called that. With liberalization proving to be a gateway for cheap financing, Japanese banks felt ignored and quantity became a priority over quality. The quality of loan portfolio declined and banks started getting into riskier segments like real estate. Eventually, in 1998, the amount of bad loans increased to a monstrous 3.8% of the total loans, and a staggering 11% was on the borderline to be stamped as ‘bad’, forcing the Japanese government to intervene. Around 7.5 trillion yen were pumped into the system for recapitalising 15 major banks. In reality, this Japanese banking sector crisis had a more devastating role to play in the Asian crises.

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Source IIPM-Editorial,2006

5-city hijack to safety

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Indian Airlines flight IC 814 from Kathmandu was hijacked in December 1999. By the time the ordeal ended after eight days, the flight had hopped to Amritsar, Lahore, Dubai, and Kandahar in Afghanistan. The then NDA government escorted three Kashmiri militants to Kandahar in exchange for the safety of the hostages. Prime minister Atal Behari Vajpayee allowed Jaswant Singh to greet the released hostages. But for that the three released terrorists had to fly with Jaswant. In effect, India’s Foreign Minister personally escorted three murderous terrorists. Singh further embarrassed himself on the tarmac at Kandahar by hugging the Taliban leadership and parading arm-in-arm with the thugs who then ran Afghanistan. By the time, late at night on December 31, Jaswant and the released hostages landed in Delhi, public opinion was mixed. There was relief that the passengers on IC 814 were safe. But there was widespread revulsion over Jaswant Singh’s behaviour and a growing sense that India had surrendered to blackmail. Till today, there is no coherent hijack policy, though there is increasing debate of late on what to do.

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Source IIPM-Editorial,2006

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Amazing proliferation of product choices in every category

Today we have luxury cars, moderately priced cars, and inexpensive cars. Full-size, intermediate and compacts. Sports cars, four-wheel drive vehicles, RVs, minivans and suburbans, which are station wagons on steroids. In the television industry, ABC, CBS and NBC, once accounted for 90% of the viewing audience. Now, we have network independent cable satellite and public television. Today a wired household has over 150 channels to choose from. And they are threatening us with “streaming video”, that promises to make the cable industry’s dream of a 500 channel universe, look pathetically unambitious. With all that, if you flip through the channels and try to find something to watch, by the time you find it, the show will be over.

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Source IIPM-Editorial,2006

Wpp – Sorrell’s Weapon of Mass Destruction

It was a one room office with two employees in 1986. Today it has 91,000 employees in 106 countries with over 2000 offices. Wire and Plastic Products might have started off as a basket manufacturing company, but Martin Sorrell, who was once the Finance Director at Saatchi & Saatchi, ensured that he made WPP into the world’s second largest advertising and media buying conglomerate. After acquiring shares in London based WPP, Sorrell used it as a vehicle to acquire films’ like Mindshare, Ogilvy & Mather, JWT and Group M. WPP, with its strong focus on organic growth, has brought about a financial discipline in an industry, which earlier relied on unhindered and touchy creative genius.


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Source IIPM-Editorial,2006

Plagiarism pierces Swanson’s defence

World’s fifth largest defence corporation Raytheon is hit with plagiarism charges and the originator is none other Chairman and CEO Bill Swanson himself. ‘Unwritten rules of Management’, a management guide apparently written by Swanson, includes some passages lift ed directly from WJ King’s ‘Written Unwritten Rules of Engineering’. The board of Raytheon is not firing Swanson due to his excellent track record, but has reportedly cancelled his annual salary and stock option increments. Raytheon is the manufacturer of the famed Tomahawk cruise missiles used by the US defence forces; the projectile became very popular after its success vis-àvis Iraq’s ‘Scud’ missiles in the 1991 Gulf war.

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Source IIPM-Editorial,2006

America"s Foreign Debt (IIPM-Article)

In a new paper, Gros argues – compellingly, in my view – that what’s really happening is that foreign companies are understating the profits of their US subsidiaries, probably to avoid taxes, and that official data are, in particular, failing to pick up foreign profits that are reinvested in US operations. If Gros is right, the true position of the United States economy isn’t as bad as you think – it’s worse. The true trade deficit, including unreported profits that accrue to foreign companies, isn’t $800 billion – it’s more than $900 billion. And America’s foreign debt, including the value of foreign-owned businesses, is at least $1 trillion bigger than the official numbers say it is.

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Source IIPM-Editorial,2006

World Economic Outlook Report,2006 (IMF)

After previous years showing savings flowing from emerging economies to developed countries, it is now the turn of global corporations – with never before seen high savings – to turn net lenders; and the fact is that nobody knows which way the levee would break in the coming years. According to the World Economic Outlook Report, 2006 (IMF), the corporate sector, which presumably should have always needed funds from other sectors, has actually instead turned out to be the net lender to other sectors. Savings by the corporate sector of G7 countries reached 2.5% of GDP (IMF), a level that has never been achieved in the past.

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Source IIPM-Editorial,2006