IIPM :- Que: Doesn’t differentiation destroy employee loyalty? (Andre Rapoport, SÆo Paulo, Brazil)

IIPM PUBLICATION
Ans: Look, loyalty is no magic bullet. In today’s globally competitive world, you can’t survive – let alone thrive – without satisfied customers. Do loyal employees make that happen? Sure... sometimes. But to have satisfied customers, you need employees loaded with talent, energy and passion all the time. You need people who stay with your company not because the benefits are good, but because your mission turns them on, the work is fun and meaningful and the opportunities for growth are thrilling.

You need people who are happy to stay, but are ready to leave if the environment isn’t buzzing. Those are your winners. We’re not against employee loyalty, of course. But the concept of employee loyalty as a corporate and societal virtue went out the door with lifetime employment, which had to go when foreign competition arrived. Differentiation was the antidote which has its flaws, but it works better than any other system we know. And one reason is that it makes it clear that employees can only stay as long as they are performing. If that makes some people disloyal, let them go.

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Source : IIPM Editorial, 2006

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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IIPM Business & Economy :- ...Then lack of aid for sure!

IIPM MANAGEMENT INSTITUTE

The world spends $1 trillion in arms, but not on ending poverty
A recent report by the Stockholm International Peace Research Institute (SIPRI) states that global defence spending in 2005 was a staggering $1 trillion. The top 15 spenders accounted for nearly 84% of the total expenditure. The United States of America led the chart with a mind-boggling annual defence spending of $478.2 billion followed by United Kingdom ($48.3b), France ($46.2b), Japan ($42.1b) and China ($41b). The top five accounted for 65.5% of the global defence spending followed by Germany with $33.2b, Italy with $27.2b, Saudi Arabia $25.2b, Russia $21b and India with $20.4b. Incidentally barring Canada, all of the G-8 countries are part of the list of the top 15 defence spenders.

What more, this annual defence spending does not include the several billions of dollars that are sanctioned by many of these countries on defence and allied research. The double standards of the developed world is revealed when one compares this with the fact that 2.8 billion people live with an income below $2 per day. And even then it takes years of deliberation and contemplation by the G-8 countries to write off the debt of $40b (when compared to what it spends on defence annually) of 18 of the poorest countries of the world, which included many of the poorest of the Sub-Sa- haran African countries. But in the new world order, it isn’t to be so, for spending money on tools to take lives is more of a priority than saving those lives.

Incidentally, the total debt of Africa is around $300b. If the G-8 takes the lead from the front in not only writing off the debt but also in intervening into the overall socio-economic development of Africa, half of mankind’s misery might come to end. And thereby putting a strong deterrent on such offensive spends on defence expenditure.

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Source : IIPM Editorial, 2006

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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To your health...

IIPM PUBLICATION
Well, when the business started expanding overseas, the Burmans were smart enough to identify the need of a strategic management governed by expert CEOs. In 1998, the Burman family handed over the management of day-to-day operations to professionals and reduced the number of family members in the board from 10 to 4. The restructuring of the Dabur group is truly unique, since the core business is now being run by non-family professionals; while the Burmans have given up executive positions in the core company to take charge of the new growth businesses. Amit Burman, who has taken charge of Dabur Foods, explains the logic thus, “New, high growth businesses require entrepreneurial zeal and are better suited to the members of the family.” These timely steps have enabled Dabur to post an exorbitant turnover of more than Rs.16 billion for the year 2006.

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Source : IIPM Editorial, 2006

Dean of IIPM :- Professor Arindam Chaudhuri (Renowned Management Guru and Economist)

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)

IIPM : The most rewarding and most giving act in any economy: Entrepreneurship

IIPM MANAGEMENT INSTITUTE

It is a faith, a credo and a passion that we live by... it is what our institute IIPM is all about... it is what I’ve been telling oft en through my editorials (Readers of our sister publication, The Sunday Indian will recall our cover story on the same subject, Delhi On Fire; refer TSI dated 19th November, 2006). We passionately believe that entrepreneurship is the most important voluntary contribution of any citizen towards his country. It is more important and charitable than the biggest act of charity; it is a great act of giving and amazingly greatly rewarding; perhaps much more than an uninvolved act of philanthropy.

Yet, time and again, it is entrepreneurs who are penalised and looked at with suspicion (even till a few years back, parents usually had second thoughts and doubts about marrying their daughter off to a businessman; – although that has almost changed now). They are the ones whose shops are sealed and closed down in Tughlaqi fashion as if they are the slimy profit makers who deserve no mercy; though the stark fact is that the bigger they are, the bigger is their contribution to an economy. The Supreme Court goes on to say that the first to be penalised should be the big fish. I will be the first to admit that many people (entrepreneurs) are involved in wrong things at times while expanding their businesses; but not in a bigger proportion than people involved with the judiciary, police, politics, media or even people at decision making positions in other professions... What is forgotten in this nationally retrograde and regressive thought process of suspecting the business community is the fact that it is entrepreneurs that create wealth and jobs. They are doing what the nation has failed to, i.e by still not making the right to earning a living a fundamental right. They plug this gap as one non-committed government after the other simply abdicates its responsibility to provide unemployment allowance in this country (and thus run away from the basic responsibility of a government of providing jobs apart from health, education and justice). It is this entrepreneurial community which has still kept the name of India flying high around the world by creating growth and employment – not with support from the government but despite the government.

It is high time that the governments in India realise the beauty of entrepreneurship and have supportive policies for them (and not just money laundering SEZs and other such policies for their own individual benefits). By supporting entrepreneurship, specially small and medium scale industries, they will make their own lives easier, for all that they are supposed to do but don’t, the private entrepreneurs can take care of! China does the same and the Chinese miracle is to a large extent thanks to its small and medium industries. In India, however, despite big talks around globalisation, the real support for SMIs is completely missing. Government’s globalisation focus revolves around big industrialists and bigger foreign multinationals like the Wal-Mart etc. The reasons are obvious.

While we celebrate the rise, fall and rise of the big Indian entrepreneurs in this special issue of Business & Economy, my hope is that it would serve as motivation for the government and people alike to believe in the beauty of entrepreneurship. And not only does the Government start looking at businessmen with more respect, but individuals also start realising that there is nothing that can be more rewarding than the act of entrepreneurship.

(SMS your views with your name and topic to 98717 77000)

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Source : IIPM Editorial, 2006 An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.
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United Brewery’s holdings… Unlimited

IIPM PUBLICATION
Be it riding on the jumbo jets or making its mark on the devilish blood-red beer bottle, the stunning, gorgeous ‘Kingfisher’ bird has done it all. From making six something in height, darker than the dark itself, west- Indian players humming “ula-lalala- lala-lele-oo…” and running across the beach around the beautiful chicks, to making it a punchline and forming one of the most recalled brands, every strategy of the massive organization seems to have earned big bucks for the flamboyant Mallya family.

A legacy that was taken up by the Vitthal Mallaa, later shouldered by the Mallya Junior – Vijay, it’s ready for a new sojourn with the third generation son Siddharth. The flagship that takes care of a number of companies with businesses in pharma, Aviation, fertilizers, international trading, infrastructure, media et al, has proved itself time and again as one of the most appreciated brand.

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Source : IIPM Editorial, 2006

Dean of IIPM :- Professor Arindam Chaudhuri (Renowned Management Guru and Economist)

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)

Working with fun!

IIPM MANAGEMENT INSTITUTE
‘If you love your work, you don’t work for a single day’, a cliché echoed by Joshi, who confidently states, “I try to motivate my people in such a way that they enjoy work. And to do so, I believe in 100% collective decision-making.” He further elaborates that the company encourages a lot of creativity and innovation which, according to him, is must for a fashion business organisation. To ensure creativity and innovation, the company to its credit has built a management board that comprises of members who belong to varied domains ranging from banking to fashion industry This man is a perfect fit in a luxurious fashion company as he likes to drive a Lambourgini. Apart from Polo, Joshi enjoys watching Formula- One racing. On being asked about the future of the company, he announces with pride that, “Brand House Retail would be a gateway for fashion and lifestyle retailing. We want to reach all segments of textile and various demographics. So by 2010, there will be 17 to 18 more brands...” Here’s a man who’s determined to wipe-off the schooluniform image of S. Kumars and make it a champion that controls all possible textile segments.

Edit bureau: Angshuman Paul

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2006

Dean of IIPM :- Professor Arindam Chaudhuri (Renowned Management Guru and Economist)

Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)