The Billion Dollar Man

In the year 1983 Bhaskar Bhat joined the then called Tata watch project which was just establishing its foot hold in India, and nearly 2 decades later has turned it into a Billion dollar company. In an article I read in a famous news journal it was astonishing to come across his intuitiveness which makes you astonished and think “how come I dint think of this”?  Today Bhaskar Bhat has created a demand for watches which at one point no one thought existed. Diversification in business was a risk factor a decade ago but through investigation of a decade has meant that diversification happened in the Tata Owned enterprise and the Billion dollar man ventured into jewellery. But what makes him stand out is the fact that despite so many hurdles which is facing the watch manufacturers these days his initiatives to attract the masses to choose his brand is still startling. In a recent interview when quizzed about the potential threat to his watch making enterprise, he said and I quote “today even a mobile phone is a competitor to my business and I have to live with it and fight it out, but come to think of it we Indians fancy watches as the best to gift to give someone in special occasions and that is where I fancy my company”.

After taking over the mantle of MD in the year 2002, rapid strides have been taken by this industry. Today it comes as a surprise to many that this TATA owned entity is none other than TITAN. You might just be sporting one when reading this. This article is about a leader whose qualities need to be addressed and I hope I have in this short summary.

Corporate Etiquette



Etiquette means manners practiced in a particular environment. Corporate or Business etiquette is one which is adopted in every business keeping in mind the ethics and integrity. It varies from country to country, industry to industry and culture to culture. But the basic business etiquettes remain at core level. Corporate etiquette is sometimes called business etiquette and it is a set of ordinarily agreed upon rules for behaving in the business environment. Essentially, it focuses on manners for the corporation and its individual players. Etiquette is nothing but manners to be followed in a given cultural environment. Every culture has its own etiquette. But overall the etiquette is universal with certain characteristics and qualifications that run across all people like a common thread. Business etiquette is also an etiquette that has to be adopted in every business keeping ethics and integrity in view. It varies from culture to culture and from country to country and from industry to industry. All the differences are only superficial in nature with the commonalities of basic business etiquette being at the coral level. Etiquettes are of different types. It has to do with the way an individual interacts with customers and other businesses. When etiquettes is observed, the corporation has the opportunity to present a seamless, mannered front to the rest of the world, which can increase the respect the world gives it, resulting in a potentially more profitable corporation. Some of the subjects that corporate etiquette might address include the polite way to interact with others. Specific behaviors and manners attached to the way people speak in person or on the phone may change how others perceive a corporation. Written communications are equally important any anything from an email to a formal letter may be governed by certain rules, according to etiquette specialists.

Interaction is not limited to verbal or written communication. Many groups that specialize in teaching corporate etiquette also teach proper manners for dining with clients or other businesses. People may not know these rules automatically and they benefit from instructions in table manners and appropriate dining conversation. 

Other topics are often taught in corporate etiquette classes or in books. These could include how to show sensitivity to cultural differences and how to place people of other cultures at their ease, since many businesses operate on a multinational level. Some etiquette rules might suggest ways to begin and end conversations, how to introduce guests, or how to dress for the corporate world and for any more formal occasions.

Some of the basic etiquettes are:

·        Maintenance of personal hygiene

·        Dress code

·        Handshake

·        Telephone etiquette

·        Email etiquette

·        Dining etiquette

·        Giving Business card

Apart from these basis etiquettes, one thing that books or classes don’t always cover in corporate etiquette is individual rules or protocols that apply to a specific company. These rules may fall under the idea of applied ethics, where behavior is based on a certain moral code the company has expressed. When we talk about business ethics, usually we’re speaking about standards of behavior in the workplace as well as with customers and partners.

Etiquette and business etiquette is essential to survive and succeed both at the personal and professional level. It has paramount significance and importance at the corporate world either to make or break the business deals. Therefore, it is mandatory to stick to the basics of all etiquettes to become a successful professional. In the growing corporate world it is getting increasingly important to maintain etiquettes defining the business impression.

'Say no to Bangalore and yes to Buffalo,'-What does this US Slogan mean to India?

Recently, protectionist measures taken by the US government towards outsourcing has led to uncertainties for the Indian IT firms. The Obama administration has got the border security bill, passed in Congress which seeks to raise nearly USD 550 million by increasing the fee in the categories of H-1B and L1 visas for the next five years. The H-1B is a non-immigrant visa that allows US companies to temporarily employ foreign workers in speciality occupations. The decision to hike visa fee will be a blow to Indian IT firms which have a large exposure to the American market and which temporarily station a section of their engineers to offer near-shore services to their clients. According to the reports, Indian IT firms will be paying USD 200-250 million more per year, which will affect their margins. US President Barack Obama clearly stated that he will do whatever it takes to secure jobs for the US citizen. He asserted that he will give tax benefits to the companies who appoint the locals for speciality occupation and pull off tax benefit from companies who outsource from India and China.
     According to media reports the Indian IT-BPO industry that currently employs three million people is estimated to be a $60 billion business, about $50 billion is earned through outsourcing and the rest constitutes the domestic revenues. Certainly, the protectionist strategy is not in the best interest of businesses, be it Indian or American. Since outsourcing is one of the engines of economic globalization, it is unethical that one country, that too the largest economy in the world which till two years back was the strongest advocate of free market reforms, turns its back on outsourcing and moves towards protectionism.
     India has voiced its concern about the visa hike and Ohio ban during the talks held by Foreign Secretary Nirupama Rao to discuss President Barack Obama's visit to India in November . Rao has discussed these and many other issues that influences the relationship between the two countries this seems to be going through a transformational phase. Many people from the IT industry believe that this is the outcome of the rate of over 9%. Another reason could be the upcoming US elections in November and they hope these issues will subside once the US unemployment is solved.

Senior Citizens - A Burden or A Blessing To The Society ?

The Life of Seniors is becoming more and more complex and confused in the present day changing Life Style. Years back, the presence of Elders at home was considered an asset and blessing, but that is no more the case.

Increasing longevity, migration of a major section of youngsters to different parts of the world in search of livelihood, both husband and wife going to work, lack of patience to adjust to the needs and aspirations of youngsters and elders in a family, total alienation from the traditional way of life, from food to fashion, celebration of festivals to following customs and cultural outlooks, have brought a pathetic breaking of affectionate ties and relationships between the young and elders. 

As a result most of the elders are put to untold misery and tension, being unable to decide as to how and where they should live, to avoid unpleasantness and undesirable atmosphere at home.

For those fortunate elders who can and are living with their children, grand children etc life is OK except for the usual ups & downs that are inevitable in any one's life.

But for those unfortunate seniors who for many reasons are unable to stay with their children, life becomes too tough especially with advancing age and particularly for those who are unwell - physically, mentally, emotionally and financially. The boredom of living alone is causing untold miseries. Every day passes with unimaginable hardships.

    WHAT THEN WE CAN THINK AS SOLUTION ?

1) The Elders must accept and adjust with people living around them and learn to live affectionately in their company.

2) Elders can form small groups among themselves and arrange for common food preparation etc and start living as a community.

3) Those who can afford can select a decent and compatible Seniors Home and go and stay there, where they can have friends of their age and temperament.

 Apart from the above respective solutions there are many more.

Youngsters should take it up as their solemn duty to help. Protect and shower love on the elders around their area, despite several constraints like lack of time, commitments at home etc. On special occasions they can visit the elders and spend some time with them, invite them for breakfast, lunch, dinner etc and get the hearty blessings of the elders.  This will give the youngsters great mental and internal satisfaction and also make the elders feel happy and elated. Besides children seeing such services being done to elders by their parents, brothers, sisters etc will know the value of doing service to elders. We pray for the well being of millions of elders who are yearning for love, care and respect.

The Hard Reality of the Global Expansion

        Companies become so dazzled by the sheer size of untapped markets that they lose sight of the vast difficulties of pioneering new, often very different territories. Managers rely on in making judgements about international investments, tools that consistently underestimate the costs of doing business internationally. The most prominent of these is country portfolio analysis (CPA). CPA places all the emphasis on potential sales. It ignores the costs and risks of doing business in a new market.

          Most of those costs and risks result from barriers created by distance. By distance it does not necessarily mean geographical (though it is important). Distances such as cultural, administrative or political also cannot be ignored. According to a recent survey it indicates that trade takes place between two countries 5000 miles apart is only 20%. The survey also indicates that a company is likely to trade with former colony, for instance, than with a country to which it has no ties.

The Four Dimensions of Distance:

Distance between 2 countries can manifest itself along four basic dimensions: Cultural, Administrative, geographic and Economic.

Cultural Dimension: A country’s cultural attributes determine how people interact with one another and with companies and institution. It can also be seen that by cultural difference consumers product preferences tend to get affected. Countries that share a language, for example, will be three times a greater than between countries without a common language.

Administrative or Political dimension:  Historical and political associations shared by countries greatly affect trade between them. Policies of individual governments pose the most common barriers to cross border competition. A local government tends to intervene to protect industries that are deemed vital to national security.

Geographic Dimension: In general, the farther you are from one country, the harder it will be to conduct business in that country. Geographic attributes influence the costs of transportation. Products with low value to weight or bulk ratios, such as steel and cement, incur particularly high costs as geographic distance increases.

Economic Dimension: The wealth or income of consumers is the most important economic attribute that creates distance between countries, and it has a marked effect on the levels of trade and the types of partners a country trades with. Companies that rely on economies of experience, scale and standardization should focus more on countries that have similar economic profiles.

Marketing buzz …. Bollywood Jaisa !

“Nobody really knows which films will be big .There are no sure –fire commercial ideas any more. Nobody knows anything in the movie business because no one can predict popular taste”.-William Goldman ,  American novelist, playwright and screenwriter.

This blog is all about the contrary of this quote. “A movie and its campaign triumphs only when they engage, engross, absorb and hold the attention of people.” Isn’t this the vision of every Marketing Manager and not just that of a production house or distributor?.

The succession of innovative , ground braking , strategic buzz that surrounds around a movie and the actors in it and the buzz on buzz has been the hallmark of successful Bollywood campaigns. Amir Khan having men sporting Ghajini haircut at the lauch of the movie . A more cheesy one like Shaid Kapoor and Genilia D.Souza  sitting in the car one whole night to promote their movie Dance Pe Chance . These are  strategic and  compelling notes.One credible word of mouth marketing . Many films coming out these days have a special theme song talking about the movie pre-release and along with it is the video trailer teaser.

A few movies, specially that release with big names and budget are taken for the opening week very much in advance and more often than not obtain their money back in opening week. So the success of the movie is assured much before it hits the screen. This is the kind of brand image every Brand Manger would dream off. This buzz and buzz on buzz strategies,  has occupied the consumers to be a part of campaign.

Living and Working in Other Cultures.

Living and Working in Other Cultures.

Abstract:

This paper articulates the nature of international staffing (primarily expats). It gives a synopsis of, who Expatriates are and why are they preferred despite recent claims of failure in Expat assignments. It also emphasises on the different stress which these expats undergo in an international assignment, a new uprising which can be termed as an alternative to expats will also be discussed briefly before concluding the paper.

When international staffing is considered by an MNC, there are three alternatives which they can resort to, namely

• ·         Expatriates
• ·         Local Nationals (localisation)
• ·         Third Country Nationals.

As earlier mentioned expat success rate have been declining drastically. Despite global crises and dollar melt down in the recent past, Expat insurgence have not reduced in the recent years primary reason for this being expansion in European union, growth of Chinese economy and also the corporate regulation in the USA makes overseas business more attractive. Expats are primarily sent on assignments to fill the skill gap, building management experience and also launching new business endeavors.

A recent survey report by Global Relocation Trends, 2008 Survey Report (GMAC Global Relocation Services) suggest that only 9% of expats going on international assignment had prior international experience, this can be a prime reason for their failure. In majority of the cases companies don’t look for a prior experience in an expat while sending him/her on assignment. Companies instead tend to look at skills such as

• ·         Strategic understanding
• ·         Professional skills
• ·         Management skills
• ·         Social orientation/resilience
• ·         Communication skills (across cultures)

Now we can look into the various stress factors which usually consumes an expat in an alien land. Stress is the state of affairs when the way in which people attempt to manage problems, taxes or exceeds their coping mechanisms. Various stress factors include:

•      Hostile or unfamiliar environment (culture shock)

•      Unfamiliar language/culture

•      Separation from spouse/partner/children

•      Change in work responsibilities

•      Changing residence – finding a new home, moving and disposing of old home

•      Spouse/partner’s career

•      Children’s education

•      Other family issues – e.g. care of elderly relatives

•      Security

There are few alternatives to expat assignments which a company may decide to include, a few of the popular ones being:

•      Recruitment/promotion of local nationals

•      Short-term assignments

•      Commuter assignments

•      Mobile cadre assignments