Of booms and busts...

Affordable housing has come as relief for the Indian realty sector. But, does it really need another boom?

The real estate sector seems to be on a recovery track as sales of housing and residential properties have started picking up, thanks to the concept of affordable housing. But what really is affordable housing? Affordable housing was perceived to be as property in the range of Rs.20-30 lakh and affordable to the mid-income group. Apart from clearing the myth of affordable housing, Kumar Gera, Chairman and Santosh Rungta, President – CREDAI (Confederation of Real Estate Developer’s Association of India), reason why there should not be another boom in the real estate sector.

4Ps B&M: What exactly is the concept of affordable housing?
SR: Generally speaking, affordability is linked with houses being cheap. But it’s different from the common myth. For various levels of income group, the affordability is different. A person who is earning Rs.2,000-3,000 per month also needs a house and that should be affordable to him. Affordability is dependant upon the earning capacity of an individual. The right interpretation of the word affordability means to be in a situation to provide a product, which is affordable to each section of the society – low-income group (LIG), mid-income group (MIG), economically weaker segments (EWS) as well as the high-income group (HIG).

4Ps B&M: But, why did prices bloat in the first place?
SR: Price is always the mechanism of demand and supply. For developers, 30-40% of the component of price is that of the cost of the land. As cities grow, cost of land increases, and therefore cost of apartments also increases.

KG: In addition to that, input costs, material costs, steel, cement, labour cost, development charges as levied by local authorities, cost of power, et al, have sky-rocketed. Price is in fact a function of all these factors.

4Ps B&M: What issues are you discussing with the government to develop affordable housing?
SR: First of all there are land issues. Government has some land and we’re discussing how that land can be converted into housing. Then, some states still continue with the Urban Land Ceiling Act that needs to be immediately removed. There is also a question of land convertibility of agricultural land into housing land. The second most important issue is the creation of infrastructure. The land is expensive in the main cities and therefore we’ve to look at the suburban land. And for that there should be a good transportation network as every person living there needs to come to city to work. Roads are not laid out, so there has to be a policy on roads as well. Then it should also be known in which direction is the town moving, for which a masterplan has to be made and pockets have to be identified.

4Ps B&M: Region wise how is the sector performing?
KG: Pretty much the same. Areas which are IT centric may be suffering more than areas which have their economies based on certain other sectors that are more stable. In fact, real estate certainly depends upon the economy of a particular region to a marked extent.

4Ps B&M: So, when do you foresee the next real estate boom?
SR: I’ve been in this business for the last 40 years and I don’t want any boom in the sector. It is not in the interest of the sector. Our ideal dream is to move with the economy and let there not be a situation where real estate moves ahead of the economy. We don’t want prices to rise suddenly but to move progressively in line with the growth of the GDP.

KG: Sector will move up as input costs will increase and there will be a reasonable price increase, which people can accept. If prices go up, profit margins will go up, but then how many units will be sold? Volumes will go down, which will bring down the sector. So, there should always remain a healthy demand at price points.

Savreen Gadhoke

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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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Branding dead celebrities is a multi-billion dollar business and a slew of smart entrepreneurs are cashing in on the positive feelings associated

with the celebrity’s image. By Sray Agarwal

No matter how morbid it sounds, Michael Jackson’s death has given a new lease of life to Hollywood’s ailing economy. As in life, even in death, everyone and anyone remotely associated with Michael Jackson (including his dear dad) is busy using his name to build up their respective bank balance. Just a couple of hours after Jackson’s death, the music industry re-launched many albums of Jackson and overnight a few of his songs booked top slots of charts. So much so that even eBay, iTunes and Amazon saw a new surge in demand related to Jackson products and merchandise. His father also joined the frenzy. Just three days after his son’s death, Joe Jackson was spotted on CNN’s Red Carpet casually plugging his new record label, Ranch Records. Buzz is that Joe is even lining up Michael’s children for a world tour as The Jackson Three next year. Even rapper Akon is suddenly touting a song with Jackson in his new record; and earlier this month Madonna too paid tribute to the singing sensation at London’s O2 Arena – where Jackson was supposed to perform – of course, to packed audience!

Gloomy as it may seem, marketing the dead is actually a billion dollar industry. A dead product (read: a dead celebrity!) has all the attributes that are required to make a brand. They have a fan following, they are idols, they are memorable, they are likeable, they are valuable and above all, as they are no more present to pamper their fans with their performance, their very names are cash cows for smart entrepreneurs. Barry Silverstein, a marketing consultant and co-author of the McGraw-Hill book, The Breakaway Brand spoke to 4Ps B&M and gave his take on the trend. “I believe using dead celebrities as part of a marketing program is both a short and long-term strategy. It’s short-term because marketers can capitalise immediately on a dead celebrity who dies, but it’s long-term because, as has been proven with Elvis Presley, a dead celebrity’s aura can live ten, twenty, or fifty years, thus providing a smart marketer with an ongoing path to potential sales and profits,” he says.

As per the Forbes’ list, the top 13 dead celebrities generated $242 million in 2007. Firms like CMG Worldwide and the Richman Agency (now a part of Corbis) buy the licence and intellectual property rights of dead celebrities. CMG boasts (even today!) clients like Rosa Parks, Marilyn Monroe, James Dean, Jesse Owens and Babe Ruth among its clientele. While the Richman Agency has few from non-glam world, CMG and Corbis receive 20% of the profits from any endorsement. Adds Barry, “Once a celebrity is gone, they will never act, sing, dance, speak, or perform again and that makes every collectible and every image associated with that person truly valuable.” Take Elvis Presley. He has still not lost his essence and stands firm in this highly competitive world... uh, the world of dead celebrities. According to Forbes Magazine, around 600,000 people visit Presley’s home every year. Elvis has already sold 118 million record albums and around 500 million commemorative Elvis US postage stamps were sold after 16 years of his death. But with Michael Jackson’s sad and untimely death, Presley’s top slot seems to have found a close competitor. Marketers are even planning to commercialise Michael Jackson’s estate in the lines of Elvis’ estate.

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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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FLANKING AWAY TO GLORY

At a time when auto majors like Tata Motors have been painted in deep red, market leader Maruti Suzuki has been pulling all stops to move ahead SWIFTly

SHASHANK SRIVASTAVA, CGM-MKTG., MSI

Did you know that the design for Maruti Suzuki’s bestseller Swift was initially rejected on grounds of being far too radical? “Even months after it was launched in 2005, Swift wasn’t able to generate desired volumes for us,” avers Shashank Srivastava, Chief General Manager-Marketing, Maruti Suzuki India. Even Maruti’s long standing dealers doubted the potential of this car. They perceived it as ‘made for tech-freaks’ initially.

Today, honchos at Suzuki must be thanking their stars that they stuck with their plans for nurturing the Swift at that time with a carefully selected team of ‘Swift Champions’ to push Swift sales. Not only has the car delivered Maruti from the bane of being known as a small car maker, but the model also cornered about 70% of the market share in the premium A2 segment, adding significantly to the car maker’s bottomline in FY09. “You may not be the first mover in a particular category but catch that place in the consumer mind, the race is half won,” says Srivastava, referring to the fact that even though Hyundai was the first to launch a ‘premium compact’ car in India (Getz), in popular perception Suzuki Swift wears that honour. The launch of Swift DZire in March last year ensured that Suzuki created more than a splash in the sedan segment too during the last fiscal.

But this is not just about Swift. Fact is that Maruti, which sells every second car in the country, has been driving smoothly for a long time now. The key strategy is to create new segments within segments and flank its own offerings. Market watchers believe that it is this strategy that helped the company to smooth sail even during October-December quarter last year when auto sales saw a steep fall. Sure, like other auto majors, the year on year domestic sales growth for Maruti has been minimal, but the auto maker has registered mind boggling net profits of Rs.12.1 billion. While the steep profits were partly helped by its exports that registered a growth of 32% in the last fiscal, the bulk of the credit for beating the slowdown blues goes to the growth generated from clutter breaking models like Swift DZire and A-star. “DZire has eaten on to the sales of SX4 but overall it has expanded our share in the A3 category,” adds Srivastava.

In fact, experts believe that the A-star can be the next iconic product for Maruti Suzuki as the car is successfully positioned as one for the cool young urban consumer. Apart from creating new segments, the company’s expanded reach in India’s hinterlands has also helped it to maintain its profitability. Going forward, Maruti expects the rural contribution to its total sales to go up from the present 11-12% to 19-20% in the current fiscal. And then there is the high level of consumer trust and reliability that has been working in brand Maruti Suzuki’s favour even in times of slowdown. Just one worry though. Maruti is continuing to ride high on models made on the Swift Platform (DZire and Ritz), which can surely upset the company’s apple cart when a more innovative competitor saunters in. For now, Srivastava is also predicting a robust FY10 for India’s auto czar!

Pawan Chabra

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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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A personal touch!

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Airtel knows that the key to capitalise on its growth prospects is to provide its customers a consistent, high-quality experience...

Subscriber strength of 100 million and counting… that’s Bharti Airtel for you! One of the oldest and the largest telecom players in India certainly knows how to take good care of their subscriber base and the latest ICMR and 4Ps B&M research data is testimonial to that fact. Being one of the first players in the Indian telecom industry, Airtel got its hands at the la crème of the Indian consumer-base and over the years it has only strengthened its grip further to stay put at its numero uno spot. “At Airtel the customers are always at the heart of all the things that we do and we take extra effort to ensure their satisfaction,” Sunil Bharti Mittal, Chairman, Bharti Airtel tells 4Ps B&M the reason why the brand Airtel scores high in terms of customer service in the Indian telecom arena.

In the early days of its existence Airtel was seen more as a premium brand that gelled well with the lives of rich and famous. But, as the competition grew and mobile services became more affordable, Airtel did a seamless transition – from a niche brand to a mass brand that not only was known in all nooks and corner of India, but also appealed to all classes in a similar fashion. In fact, Airtel is always known to offer best in class service to all its subscribers irrespective of whether it is a high usage customer or not. What has now added to Airtel’s advantage is its huge network and its growing reach among the consumers. But then, with competition intensifying in the Indian telecom services market, Airtel now needs to focus more on developing new services, so that it could maintain its leadership in terms of subscriber base and set it apart from its competition.

However, in the past few years there are many first that the company has offered keeping in mind the Indian consumers. For instance, Airtel claims itself to be the first player that offered its customers the lifetime validity option. “We realised that there was a big customer base in India that was using mobile handset only to receive calls and that led us to introduce lifetime validity option on the pre-paid cards. This is a unique offering that is available only in India,” avers Sanjay Kapoor, Deputy CEO, Bharti Airtel. Even at the pricing front Airtel claims itself to be the first operator in India to lower the tariffs for the long distance calls (STD) to a flat rate of Re.1.

Certainly Airtel knew that the key to capitalise on its growth prospects was not only to establish deeper and more personalised relationships with its customers, but also to provide them a consistent, high-quality customer experience. Now that’s how they have travelled sea to shining sea!

Surbhi Chawla

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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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APRIL’S FOOL PROOF STRATEGIES

Four Phase of IIPM Global Plans

Much before April approaches, corporate honchos start having sleepless nights, crossing off days on the calender. The shivers come as much from the prospect of burning tons of midnight oil to prepare the financial report cards of their overtures (or failures) in the year gone by, as from the mammoth task of ideating and implementing fresh stwrategies for the new fiscal. Some of these strategies pay off and others don’t - waiting till next April to be praised or castigated in the next financial report card. Our team could not resist the temptation of compiling this snapshot of some fool-proof (or foolish) April strategies of the last few years...

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

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IN SEARCH OF SALVATION...

IIPM : One of the leading and most respected business schools

As far as front-end is concerned, Vishal Retail is either resorting to re-sizing, re-locating or shutting a couple of stores on account of non-performance. “If Vishal Retail is not getting adequate return on investment from certain stores, then shutting them down is a viable option,” reasons a Delhi-based analyst. In fact, out of the total 187 stores (including hypermarts and small format stores) across India covering 300 million sq. ft. of retail space; Vishal Retail has already shut down close to 7-8 stores. Few stores, where RoI (return on investments) is not up to the expectations, it has resorted to pruning of its retail space (which is averaged at 30,000 sq. ft.). “Bringing down the retail space helps us to save on SKUs, manpower, electricity and per square feet return increases,” avers Khemka. In other cases too, Vishal Retail has either relocated its stores or renegotiated land rentals with the landlord (to the extent of 50% in some cases).

But then, just consolidating its operations alone may not be enough for Vishal Retail to make its way through the high tide. The retailer has recently seen its key personnel resigning from the company. Even its expansion plans have come to a halt for the time being, with over 20% inventory pile-up. Moreover, the winter sales were also not impressive enough to write back home. Therefore, the main area of concern for the retailer right now is to improve sales and get rid off the high debt lingering over it.

In fact, Vishal Retail has already started playing aggressively with its pricing and promoting its private labels to beat the slowdown heat. “Of the total apparel inventory we stock in our stores, 85% is our own private label,” proclaims Khemka. A right move as the company gets huge margins from its private labels. For instance, while on branded FMCG products the company gets a margin of 16-17%, on its own FMCG products the margin is as high as 25%. Sources close to the company also confirm that the retailer has plans to tie-up with the local kirana stores to promote their private labels. In return, Vishal Retail will look after the kirana store’s supply chain and work on a revenue sharing model. However, Khemka has refuted any such tie-up in the near future and says there are no such plans.

Be that as it may, cornering Vishal Retail as an odd retailer with huge debt liabilities may not be correct. Consider this: Pantaloon Retail (India) Ltd. and Shoppers Stop Ltd. have increased their expenditure on interest by 77.50% and 311.07% (!!!) respectively for the quarter ended December 2008. It was debt of Rs.6 billion, severe liquidity crunch and inability to make payments to vendors that led to the closure of 1,600 Subhiksha stores. While the risk of Vishal Retail may be limited to 180-odd stores, but it is certainly a worrisome situation for the retailer as maximum profitability must be extracted out of these stores to overcome the liability. Although efforts are in progress, but Vishal Retail really needs a hard-hitting turnaround strategy to live up to its name, literally!

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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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Epson EMP-DM1

IIPM Programme :- SUPERIOR COURSE CONTENTS

Technical Specification
Lumens: 1000 ANSI Contrast: 1000:1 Technology: 3 LCD technology
PRICE: Rs.61,300
WARRANTY: 2 years

This gadget promises you absolute entertainment and least amount of hubbub with its all-in-one feature that is skilled to dispense several digital contents. Furthermore, its built-in DVD player and surround speakers add the much needed excitement to movie watching or even to simple slide shows and presentations. However, this product fails to satisfy you over a few factors, like lack of lens shift and with its rickety aspect ratio. Overall, Epson EMP-DM1 as a projector comes handy and is a sensible buy only with an idea of using on special occasions. According to a company spokesperson, “The gadget has a ‘Glow-in-The Dark’ Integrated Remote Control which makes it easy for you to manipulate the viewing experience right where you are.”

Marketers’ delight: It is a good device for movie watching purposes and powerpoint presentations.

Tester’s note: Pros – With the 3 LCD world leader technology reproducing amazingly striking imagery without colour break-up, this gadget is an average delight!

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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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OSIM uPilot OS-7600

IIPM Programme :- SUPERIOR COURSE CONTENTS

Technical Specification

Power Supply: AC 110V 60Hz; AC 220V 50Hz, AC 220V - 240V 50Hz; Power Consumption: 170W; Vibration: Backrest and Footrest; Reclining Angle: 120 to 170 degree;
PRICE: Rs.3,69,000 without taxes;
WARRANTY: 1 year

The uPilot is more than just a ‘Massage Chair’ as it not only delivers the most personalised (ROBO stic technology) and deep therapeutic massage (3D Massage) but also promises pleasure to the aesthetic senses of the user. What’s best, it blends into the contemporary interiors with an artistic appeal. In fact its termed as the ‘World’s First Designer Massage Chair’ and it comes in an astonishing colour range of red, beige and black. Says Munish Bhalla, CIO, OSIM India, “The differentiation comes from ROBO stic technology which takes the massage experience to the next level as it gives the user full command over the position, intensity, speed and action of the massage hence delivering an exhilarating experience of rejuvenation and relaxation and 3-D Massage which accentuates the massage effect with enhanced protrusion of the rollers.”

Marketers’ delight: The artistic design and superior technology makes it a beautiful and easy product to market.

Tester’s note: Pros – Well-designed and provides great therapeutic massage. Con – Not a pick for the middle class as it falls in the high price range.

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Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
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the birdies that passed them by!

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Too much security is a certain route to doom, and S&Ls learnt this basic truth the hard way, but not soon enough. But did America truly put the past behind it?

As said by an unknown (and most likely frustrated) philosopher, “The best way to rob a bank is to own one.” Deliberate frauds and intentional risky investments by the ‘Gucci–clad white collar criminals,’ made the Savings & Loans (S&L) institutions head towards America’s biggest and most scandalous financial crisis since the ‘Great Depression’ in 1982. This, coupled with a government, which found itself ‘singularly ill- prepared to fight the crisis’, worsened the situation, taking the final cost of resolving the failed S&Ls to over $160 billion. The estimates, as financial experts claimed, were based on the rosy picture painted by the government agencies of the economy, declining interest rates and the fast growing thrift deposits. Analysts warned that taxpayers in the future would have to pay tens of billions of dollars more than expected. President Bush, the chief architect of the final bailout commented, “Nothing is without pain when you come to solve a problem of this magnitude.” But what led to the sorry state of the once successful S&Ls?

Well, perhaps the answer lies in the lack of preparedness and strategy on the part of the institutes and the government policy. S&Ls like Lincoln Savings & Loan Association, Atlanta Mortgage Consortium & Silverado Savings & Loan (of which Neil Bush, son of Sr.George Bush was Director) were specialised financial instruments using federally-insured low-interest rate deposits. Under strict government regulation, they ran on the philosophy of paying depositors 3% and lending at 6% and reaching the golf course by 3 p.m. (denoted as the infamous 3-6-3 rule in those times)! The system worked perfectly well till the late 70’s, till the thrifts started losing depositors to the new money market funds. Control on interest rates charged by them was a major impediment. During the late 70s, US was still recovering from the wounds of the 1973 oil crisis and the 1979 energy crisis. A mild recession pushed up the inflation, forcing the Fed to increase the rates.

The fed-rate grew and touched a high of 20% in June 1980. Post the increase, the S&Ls had to increase the rates and launch commercial and consumer loans and also remove some restrictions. They saw a major outflow of low-cost capital, as people took out their money from SLs and invested them in high rate yielding banks. Besides this, they found their money tied up in fixed-rate long-term mortgages with returns less than existing market returns. This made S&Ls uncompetitive. The then President Jimmy Carter, during the last days of his presidency, removed restrictions on the amount to lend and interests to charge by S&Ls. Federal Savings and Loan Insurance Corporation (FSLIC) further insured 100% (earlier only 70%) of the deposit amount of all S&Ls, thus making them risk-averse. During 1980, the FSLIC had insured approximately 4,000 S&Ls with total assets of $604 billion. Subsequently, they went ahead with highly risky projects like speculative real estate & commercial loans.

By the time Carter vacated office in 1981, many S&Ls had already started losing money. Net S&L income, which totaled $781 million in 1980, fell to a negative $4.6 billion and $4.1 billion in 1981 and 1982 respectively. When Ronald Regan came to office, he enforced Garn-St Germain Depository Institutions Act in 1982. S&Ls could now pay higher market rates for deposits, borrow money from the Federal Reserve, issue credit cards, make commercial loans and do almost everything to stay in the market.

James R. Barth Lowder, Eminent Scholar in Finance at Auburn University and Senior Fellow at the Milken Institute, calls it “an ill-advised government rule.” With almost no proper regulation, the S&Ls started mushrooming and becoming insolvent. Corrupt management, fraudulent practices and too many risky projects made them vulnerable.

An estimate by the Fed shows that fraud and insider transaction abuses were the principle cause for some 20% of savings and loan failures and a greater percentage of the dollar losses borne by the FSLIC. Besides, lowering of house prices and considerable fall of inflation in later part of 1980s led FSLIC to close down or resolve 296 institutions with total assets of $125 billion within just three years (1986-1989). In 1989, the US Congress passed Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and forced S&Ls to go back to home-lending. The effect was so large that Texas almost went into recession due to Texas-based S&Ls.

Greenspan, Bush & crisis have been inextricably linked to US since most of the last three decades. Of course, S&Ls do not exist and even Junior Bush is on his way out. But still, American banks could hardly avert the current mortgage crisis. The 3-6-3 rule may be there no more, but perhaps the cultural legacy it represented lives on!

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Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
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RANBIR KAPOOR - New Kid on da block

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RANBIR KAPOOR
New Kid on da block

Everyone’s expectations were soaring sky-high when Ranbir Kapoor, son of the evergreen lover-boy Rishi Kapoor and his lady-love Neetu Kapoor (née – Singh) stepped into Bollywood last year with Sanjay Leela Bansali’s much-hyped film Saawariya. It turned out to be a huge disappointment and was not even remotely close to what people had expected it to be. But despite all the flak the movie received, Ranbir, who played a lovesick singer in this musical drama, got good reviews for his performance. His mesmerising screen presence, not to forget his ‘towel dance’, has made him a heartthrob amongst the fairer sex. The grapevine went berserk talking about his hook-up with co-star Sonam Kapoor but that was all quickly forgotten once he declared his relationship with Deepika Padukone. Soon brands like Pepsi decided to make good use of the star power of this couple and launched the Yeh Hai Youngistan Meri Jaan campaign. With looks that could kill, this storehouse of talent will soon be seen in Siddharth Anand’s Bachna Ae Haseenon, and the ladies would testify that the title of this film is one warning that’s perhaps already a tad too late!

Amid the wreckage of Saawariya, the industry didn’t fail to take note of the boy’s passion for cinema, and plenty of Best Debut Awards were showered upon this young Kapoor. Film critic Taran Adarsh points out, “Ranbir is a deadly combination of tremendous potential, great looks and fantastic acting. I think he is one guy who is very soon going to be right up there with Shahrukh Khan, Akshay Kumar and Hrithik Roshan. His best is yet to come.”

The above doesn’t seem to be a far-fetched prophecy either, for Ranbir Kapoor does have it all – good looks, a lot of talent, focus, meaty campaigns, big banner movies, a hot girlfriend and a last name that makes him a born star.

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Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM - Admission Procedure
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ROHINTON MISTRY - Writing india’s fate

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ROHINTON MISTRY
Writing india’s fate

“To so many classes I taught Lear, learning nothing myself. What kind of teacher is that, as foolish at the end of his life as at the beginning?” said Nariman Vakeel, the widower protagonist after perennially getting begrudging treatment by his step children in Rohinton Mistry’s novel, ‘Family Matters’. These words not just exemplify a situation shaped by the novelist, but also the common callous treatment that parents across the world are meted out today.

Mistry’s ‘Family matters’ was appreciated so much that it bagged the illustrious Kiriyama award for the India-born writer. In fact, it was not just this novel which had addressed an Indian social problem, all the works that Rohinton Mistry is known for, deal with India’s social issues. From portraying social taboos like castism or the practice of untouchability in India to the emergence of Indian society, through his various books, Mistry has done it all. His book ‘A Fine Balance’ narrates a transparent picture of such obscure practices which have been the cause of concern for the country for long. The works of Mistry have helped in not just identifying the problems that masses in India have faced long, but also in creating awareness about Indian social issues like poverty and caste-based malpractices at the international level.

Mistry’s efforts also made him the only writer to have won the Hart House literary prize twice and gave him further recognition on a global scale. He is one Indian gem who would surely keep on further highlighting Indian issues so that they can be identified internationally; something that India cries out for in desperation to become the stalwart in the current century.

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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The ‘lister’ comes home

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After replacing expat Douglas Baille, the local boy, Paranjpe, has a new job at hand as the CEO of HUL

Paddy fields, bullock carts, funny accents and people in colorful clothes. That’s what the world outside believes India is. When global giants send their corporate mavericks to streamline or align their global agendas in respect to India, they expect them to overlook the preset notions and look at India as a land of opportunities full of brainy IT guys and a huge market potential. What they still leave out from their so called blue print for succeeding in India is that 60% of India is still in the hinterlands. And no expat can ever trickle down his strategies to the grassroots without having a taste of the local flavour.

Hindustan Unilever limited (HUL) realised it pretty soon and crowned Nitin Paranjpe as the firm’s CEO in a rapid custodian change replacing Douglas Baillie. Last year, two MNC’s General Electric (Tejpreet Singh Chopra) and SAP AG (Ranjan Das) too had displaced their expatriate CEO’s and given over the reign to Indians.

According to industry sources, Baillie had come with the motive of ‘Unileverising’ India, with a dictate to synchronise HUL’s business processes with the global model of its parent firm. It was during his reign that the company changed its colours and name from HLL to HUL. And in tandem with the global trends he has pruned the workforce, by cutting down 50 jobs, a tough call for any Indian manager to take. Jagdeep Kapoor, a renowned brand analyst, gives high score to a job well done by Baillie but at the same time is delighted over the crowning of Nitin Paranjpe. Kapoor elaborates, “HUL has made an excellent choice by rewarding the merit and credit of an incredible employee who is sensitive to both, the culture of the country as well as the culture of the organisation.”


Paranjpe had started his corporate journey taking on the myriad lanes of the behemothic Hindustan Lever brand. The initial years saw him toiling as an area sales manager for HUL’s detergent brands. After a brief stint at the global headquarters in London, he was promoted as Category head– Fabric Wash & Regional Brand Director (Asia) followed by the elevation to the post of Vice President – Home Care (Laundry & HHC) India. In the year 2006, he was made the Executive Director of the HPC unit. The journey has sure been long but one filled with adventure and knowledge. And the experiences gained throughout the extensive journey at HUL has suitably prepared Paranjpe to feel the pulse of the vibrant Indian FMCG market. Harish Bijoor, Brand Analyst & CEO, Harish Bijoor Consults Inc. adds, “The challenge for HUL is to understand the relevance of all brands (company owned as well as retailer owned) and understand the shift in consumer demands.” And Paranjpe is the perfect fit to handle the bullock carts, snake charmers and everything that is Indian.

Edit bureau: Priyanka Rajpal

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).

For More IIPM Info, Visit below mentioned IIPM articles.
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Hollywood has decided to marry Bollywood.

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Hollywood has decided to marry Bollywood. It’s a deal that will help both. Now, SRK may star in an English flick, and Brad Pitt in an Indian movie. By PALLAVI SRIVASTAVA

Move over Tom Cruise and Brad Pitt. Welcome SRK and Aamir Khan. Bollywood stars are set to take global audiences by storm. And this isn’t a claim made by Indian producers, but this is what is being planned in the huge studios in Hollywood. The recent movie, Saawariya, marked the beginning of a second revolution in Bollywood. Mumbai. After initial experiments of co-production with foreign filmmakers and production houses decades ago, this film marked a second wave, when international studios decided to join reels to produce local content in India.

Sony Pictures Entertainment co-produced Saawariya with the iconic Director, Sanjay Leela Bhansali, and it was the opening of the first innings for Sony. And it turned out to be a decent opening stand. The movie grossed about Rs.120 million. Feels Deborah Schindler, President, International Motion Picture Production Group, Sony Pictures Entertainment, “In the next couple of years, we would like to make about four-six movies a year in India. So, our larger focus won’t be the number of movies; rather it would be making movies that we care about.”

Warner Brothers and Walt Disney are the other elite names who are busy shooting their strategies to produce Indian movies. Warner Brothers is banking on the Khiladi, Akshay Kumar for its first movie, Made in China. On the contrary, Walt Disney plans to concentrate on animation movies in India. It has tied-up with Yash Raj Films, and the first movie from the co-production stable will be Roadside Romeo. Paramount Pictures International is also contemplating Indian productions. The list goes on.

There are three major factors that are wooing the huge Hollywood studios to cross the seven seas and set up bases in Bollywood. The first is the possible arbitrage opportunity, given the ever-expanding growth in the Indian entertainment sector. The second is the fact that the Indian film industry is largely driven by domestic business and, hence, one has to be in India to take advantage of the potential market. In fact, Hollywood films account for less than 10% of the overall annual revenues earned by movies in India. Finally, there is growing attractiveness for Indian films globally.

“To say that India is growing rapidly is definitely an understatement,” says Kunal Kohli, Film Critic and Director of movies like Fanaa. According to the 2007 annual edition of the FICCI - PricewaterhouseCoopers report on the Indian Entertainment and Media Industry - A Growth Story Unfolds, the Indian film industry is expected to grow at a CAGR of 16% to Rs.175 billion by 2011. Such a market is seducing global players to join the Bollywood bandwagon. Not to forget that Bollywood is the largest market with over 1,000 movies released every year, and 3.7 billion tickets sold annually. Although these numbers don’t stand too tall in front of Hollywood grossers in terms of revenues, things have begun to change rapidly in the past few years.

As Amit Kumar, Media Analyst, Kotak Securities, points out, “In terms of eyeballs and footfalls, the Indian movie market is the largest in the world; however, in terms of value, it is still minuscule. This fact itself asserts that there is a huge scope for growth in the industry. On the contrary, the US and European markets are becoming saturated by the day.” Moreover, the demographics of India hint at an even more rapidly growing film viewership in the near future. Shyam Benegal, renowned filmmaker, explains, “Largely, those who watch movies are in the age group of 10-40 years and this profile is growing like never before. If statistics are to be believed, they will continue to grow for many more years. This will definitely scale up the revenues of the industry and this lures the global studios.”

It would have been ideal for global players to market Hollywood movies in India. This strategy would have allowed them to rake in moolah without any major investments. But those who watch English movies constitute a minority. In addition, the Indian movie market is largely driven by local content. To cite statistics, Indian films accounted for 95% of the country’s total box-office sales in 2006, according to the Indian Entertainment and Media Industry report by FICCI- PwC. Nowhere in the world, except for the US, is the market so skewed in favour of domestic movies. So, if you need to fish in Indian film waters, you need a bait that’s local. That’s possible only through local content.

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).

For More IIPM Info, Visit below mentioned IIPM articles.
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World threat

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Threat from emerging giants...

World history has witnessed a trend of few leading nations dictating world policy and future and many followers supporting those policies, sacrificing their national, regional and racial interest. But last century has given birth of many emerging giants like Korea, China & India who have become a certain threat to that trend, raising many uncertainties for global stability. China is now single largest investment destination, India & Korea are more in the forefront of the world, in terms of trade, which was unimaginable few decades ago. Total FDI from Europe to China is $35 billion, till date. And the West has continued dictating global trade policies through creating many institutions like the World Bank, IMF, GATT & IEA. But with emergence of new giants, these institutions have become ineffective, inefficient & outdated. As history suggests that in times of crisis, it is the West which has stabilised hostility and brought peace and institutionalised nations, for peace and constancy with advanced and suitable policies. Should not they again come forward, actively thinking that individual emerging giants can’t control instability? Let’s wait for their response.

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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Meet the Kapoors

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A legacy where the artistically superior meets the commercially viable, and yet delivers...

One is the son of a retired college principal while the other is the son of one of the finest theatre personalities of India. One topped engineering in Delhi and then pursued acting while the other dreamt of becoming an actor for as long as he can remember. One has barely ever shaken a leg on-screen while the other has taken dance lessons from Shiamak Davar. But one aspect that is common to both these fine actors is their ability to deliver stellar performances and the knack to better the same with each movie. Yes, this is the father and son duo of Pankaj Kapoor and Shahid Kapoor.

Having completed his engineering with first rank from New Delhi in 1973, Pankaj Kapoor joined the prestigious National School of Drama in 1976, where he bagged the Best Actor Award in his batch. After doing theatre for four years, his silver-screen break came with Arohan, after which he grabbed the role of Mahatama Gandhi’s secretary, Pyarelal in Richard Attenborough’s Gandhi. He then acted in a variety of films like Kundan Shah’s comedy classic Jaane Bhi Do Yaaro, Vidhu Vinod Chopra’s suspense thriller Khamosh, Shyam Benegal’s Mandi, Mohan Joshi’s Hazir Ho, Mrinal Sen’s Khandhar, and then came his much talked about characterisation of an educated cross-border terrorist in Roja. He also did a handful of television series that he is probably remembered most for, like Karamchand and recently as Musaddi Lal from Office Office. In the days when parallel cinema was at its peak, in 70s-80s, actors such as Naseeruddin Shah, Farukh Sheikh and Pankaj Kapoor carved a niche for themselves. This versatile actor stayed true to his roots in theatre by acting in and directing more than 74 plays and serials. But with Raakh, he bagged what he claims his dearest award of all, his first National Award in 1989.


This was followed by one of his most satirical roles with his bewildering portrayal of a scientist in Ek Doctor Ki Maut, which fetched him his second National Award in 1991 and the third came in 2004 for his depiction of a don in Vishal Bhardwaj’s Maqbool. To portray the roles that this legend has portrayed on-screen is a dream of any new generation actor. And what has come to be expected of Pankaj Kapoor is… everything! But, if one may ask, is being a legend, hereditary? For Pankaj’s consistent strife for the untouched and for the impossible and his knack of making the imperfect perfect, can all be seen in Shahid’s endeavours as well. From being a perfectionist to understanding time’s criticality, Shahid has all too well inherited his father’s professionalism. He started out with T.V. commercials, music videos and also made an appearance as a back-up dancer in Subhash Ghai’s Taal.

In a time when established actors go to unthinkable lengths to give their kids a great launch, we asked Pankaj Kapoor whether it is easy for these star kids to break into Bollywood. “Nothing is easy,” he said after a moment’s thought. “Not for an outsider or for star kids. Being a star kid makes it easy to get an opportunity to act while success is governed by your own hard work, individual abilities and by your destiny. The most successful in this line are all from outside – Dev Anand, Shahrukh Khan, Amitabh Bachchan etc.”

On being probed about the challenges created by expectations for actors like Shahid, he was quick to point out, “If one is born of certain parents, people are going to expect you to come up to their standard and certainly become better than them. It then becomes a challenge and an inspiration.” So true are these words in his and Shahid’s case. But is this another Kapoor clan in the making? “I think this thought is so ridiculous. I treat myself, my family and children as individuals in their own right. If you are talking about the other Kapoors, then they have been here for four generations. Let’s all survive on our own abilities and merits,” reasons Pankaj.

But if it is just about getting the initial opportunity, then one might wonder why children of acclaimed actors take up acting naturally. “I cannot comment on this, as my family was not into films, but as for Shahid, the only help he got was the knowledge about how this industry works and the rest was for him to figure out through first-hand experience.”

So here it is. The man who never basks in his glory and is almost always restless to better his best. Never treating awards as anything more than mere milestones. Always his own best critic. Probably this is the rarest gift a father can give to his son – the gift of a legacy.

B&E edit bureau: Ashish Pratap Singh with inputs from Prasidha Menon

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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Let go all lines for shipbuilders

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Their is an urgent need for the government to support the industry to let it achieve its potential

How prudent is it to talk about the product (the ship), which spearheaded the first phase of globalisation & industrialisation, when the world is already at the cusp of a finding new technologies & avenues to move into a totally new mode of transporting & conducting trade? A valid question indeed. But, despite stupendous strides in the realm of communication technology, we still need to ply through the high-seas to transport our goods, because unfortunately, we are yet to device methods to miniaturise goods & send them through the cyberspace. And it is this reality, which justifies continued investments in the shipbuilding industry. But the question is does the Indian establishment have the vision to see the co-relation between the growing trade & the need to build robust shipbuilding infrastructure in the country? This becomes pertinent especially in context of our economy, which is constantly endeavouring to enhance its manufacturing outputs & compete globally.

The Indian shipbuilding industry is now asking the government to renew and enhance the subsidies offered to the industry, as the growth of the shipbuilding capabilities have the potential to have a cascading affect on the overall economy. According to a KPMG study, by 2012, the shipbuilding industry would add value to the tune of Rs.64,000 crores to the overall economy; besides providing additional income to the tune of Rs.4,500 crores to the government exchequer.

The subsidy demand by the industry is certainly not out of proportion. In comparison to Korea & China, the cost of shipbuilding in India is almost 50% higher. The higher taxes in India compel the local customers of new ships to look outside (in China 84% of the demand is met by the indigenous shipyards). This is because China took a leap into the shipbuilding arena altealst 10-12 years ahead of India. Furthermore, compared to 492 shipyards in China, India has 26, of which at least four cater to defence needs only; China has an order book of 96,100m DWT & India 3m DWT.

Now, if India has to acquire the global shipbuilding share of 7% by 2016, the government will surely have to provide much more boost to the sector and make all efforts to bring it on an even keel with the other industries in the manufacturing sector. “It goes to the credit of Indian shipbuilding that despite all odds, the Indian yards have been able to achieve more than 30% y-o-y growth since last four years, notching up an order book of Rs.20,000 crores from mere Rs.1,500 crores in 2002. And achieving these figures through 68% exports.” Rear Admiral (Retd) Ajit Tiwari CMD, Hindustan Shipyard Ltd (HSL), told B&E.

The future of maritime industry in India will continue to look bleak, unless the government takes some bold measures to increase maritime awareness in the country & the land-lubbers begin to appreciate the importance of building up maritime infrastructure. We are still miles away from sending products through the satellites, ships will continue to be the mainstay of trade.

B&E edit bureau: Atul Bharadwaj

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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