...the group failed to acknowledge it, and is today paying the price for ignoring it

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They came; they blossomed and then... just faded away! That has been the story of the Siyaram Poddar group. Once praised for its achievements in paper, rubber (tyres) and textile industries, the Poddars are now battling-out against the toughest competitors they could have ever faced. With a brand like Siyaram’s, the group had been a household name for every Indian during the 1980s, but with India opening up its markets to the global players, the Poddars are continuously under tremendous pressure of competition in the textile industry, and not only from global players, but from the Indian players as well, with global nexus. Although its BKT brand of tyres – made by the group company, Balkrishna Industries Ltd.– still enjoys a good reputation in the European markets, the overall picture (for their rubber and paper industries), when all markets are considered, does not paint a very rosy picture. Incorporated in June 29, 1978, and with 66 indigenous looms, Poddar group’s flagship company – Siyaram Silk Mills Ltd. took the group to new heights. The company managed to achieve a landmark turnover of Rs.1 crore in the very first year. In the year 1980, the company went public with an initial public offer of Rs.5 million, which was oversubscribed. The next decade also marked a dream-run for the group with newer plants, expansions of older ones and exports. But, liberalisation in the early 1990s and change in fashion trends towards ready-made garments spelt trouble for the company and the group as a whole.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

IIPM : Maruti’s latest ‘Big Esteem’ quotient...

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Remember that beautiful ad which leaves nothing but a smile on your face, where an inquisitive, little girl shouts in her squeaky voice, “My Daddy’s bigggggg car” on seeing a brandnew Esteem? And you thought it can’t get bigger and better for the ‘big’ car manufacturer Maruti? Well, they are back and this time completely redefining the meaning of ‘Esteem’ & with quite aplomb.

And once again, you will appreciate the concept. A little girl examining her daddy’s car – an Esteem of course – with a trademark curiosity asks the meaning of Esteem. “Esteem means what?”, she quizzes. To this the father replies “Esteem means honour, pride.” Not satisfied with the answer, the girl probes further. The father makes her comprehend, “Pride means feeling good inside.” Follows an almost instant naïve reply from her, “Like ice-cream?” Amused, the father answers, “Esteem ka matlab andar se you feel big.” As the word ‘big’ registers in her mind, she explores it throughout the journey – “Esteem tree, esteem road, esteem mountain!” Meanwhile, the Voice Over calls out: ‘The easy to own big car. Big on power, big on mileage.” And the commercial ends with the girl explaining to her pal, “I am more esteem than you.”

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

Is it possible for a leader to be a top performer and attain work-life balance?

Christy Dobbs, Philadelphia

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Not only is it possible, it happens all the time. Look, top performers are top performers for a reason. They’re usually very talented, smart, creative, productive and loaded with energy. And those qualities don’t tend to confine themselves to work. If they’re in a person, they suffuse everything he or she does. That’s why we all know plenty of successful business people, who also have successful lives outside work, filled with family, volunteering and hobbies. They’ve figured out what they want and how to make it all happen, usually with the help of well honed “home processes”, like meticulous scheduling, online shopping and backup childcare. We understand your question, though. We’ve heard it dozens of times. In a global economy where job challenges are constantly escalating, it is easy to feel overwhelmed by conflicting demands. And technology complicates matters. With your Blackberry in hand, you can constantly be on call to everyone. But feeling swamped is really just a default mechanism; it’s what occurs when you don’t face into what “achieving work-life balance” really comes down to – making choices and living with their consequences.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

Parties supporting Abu Salem’s candidature are contemptible

IIPM PUBLICATION
I am a true Indian and given a chance can change the path of any tempest, will save the country and make it prosper,” sounds like the words of a politician. Well, guessed it wrong! It’s a slogan coined by the dreaded don – Abu Salem – who seems geared up to contest the coming assembly elections in UP. Currently lodged in a Mumbai jail for his alleged involvements in the 1993 Mumbai blast, over 20,000 posters of white-kurta clad Salem are pasted all over his hometown, Azamgarh. Posing as a follower of Gandhian principles, Salem has been able to win a few followers who unintelligibly garble up that he is fighting elections from his own place and till now the case against him has not been proved.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

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The move by IIMs to tie-up with NIIT, to offer executive management programmes, is clearly puerile

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Perhaps the most clichéd saying in the education sector is, ‘It’s better to have no knowledge than half the knowledge’. In their obstinate attempt to prove the above statement right... or wrong (take your pick, both choices seem as banal), the IIMs at Ahmedabad, Calcutta & Indore have shoved it upon themselves to offer management programmes priced between Rs.54,000 and Rs.1,94,000 from October 2006, to working executives using computer-based distance learning modules through NIIT Imperia, a joint alliance with NIIT Ltd. And in their frenetic impatience to reach the market, six Centres of Advanced Learning have already been opened at Mumbai, Delhi, Chennai, Bangalore, Hyderabad and Kolkata somehow. Not surprisingly, this “proactive” IIM move to spread education has been much criticized by various educationists & analysts on clearly visible anomalies.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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We are waiting for Zune & Vista!

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Microsoft ’s revenues for the first quarter, ending September, increased by 11% to touch $10.81 billion. Operating income for the quarter stood at $4.47 billion; an 11% increase compared to that of $4.05 billion in the corresponding period the previous year. Strong ‘server & tools’ sales helped Microsoft to post double digit growth in both top-line and bottom-line. Microsoft pegged Q2 revenues in the range of $11.8 billion-$12.4 billion and operating profits at $2.9 billion-$ 3.1 billion in its earnings guidance. Microsoft ’s next big bet will be on Zune, which is positioned against Apple’s iPod and will hit the markets on November 14, while Windows Vista will finally reach consumers in January next year after a series of delays.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Credit counselling must be adopted

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The competition in the counseling business is set to get hotter, as banks too are planning to a make a foray into it. Well, the business is not of career or management counselling (as one may think of), rather it is quite unusual, unheard yet – credit counselling – that will help people in making fiscal assessment of their own and guide them accordingly to raise money from the bank. Taking a pro-active approach, Bank of India, the country’s sixth largest bank in terms of assets, has decided to set up counseling centres to assist the bank in reducing the instances of NPAs. The counsellors will caution customers from getting over leveraged. Although Y. V. Reddy, Governor RBI, has also appreciated the concept, “Credit counselling offers solution to current financial problems and creates awareness about the costs of misusing of credit,” there are lot of issues that still need to be tackled.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Forget the US threat to bomb Pakistan, thought in both nations is often back to the Stone Age anyway

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Of all international engagements, the one between US President George W. Bush and his Pakistan counterpart Pervez Musharraf is the most entertaining. There is barely a dull day and they can run through a range of emotions from a bear-hug to betrayal in the matter of hours. Over the past few days, they’ve done just that. Consider this exchange after their September summit in the US. First, Bush: “When the President (Mush) looks at me in the eye and says the tribal deal is intended to reject the Talibanisation of the people and that there won’t be a Taliban and there won’t be alQaeda, I believe him.” Then, Mush: “I trust President Bush and I have total confidence in him that he desires well for Pakistan and for our region. And I trust him also that he’s trying to do his best to bring peace to the world. And I trust him also that he’s trying to resolve the core issue of the Palestinian dispute.” Finally, Bush: “This is a person with whom I’ve now had a close working relationship for five-and-a-half years. And when he says, if we find – when we find – Osama bin Laden, he will be brought to justice, I believe him.”

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

GREAT ‘MILE’ WITH A DISTORTED ‘INCH’!

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It’s wonderful that you published a list of top 100 Indian companies (B&E Cover Feature, issue dated October 5, 2006) on the basis of strong, comparable and valid financial parameters like Market Capitalisation (which is normally considered by all the agencies who rank India Inc. every year), Profit After Tax to Sales ratio and Dividend- Yield. However, it would have been great if you could have considered other major parameters like the asset base separately and growth performances over the years, etc. Also it would have been great if valuation techniques would have been used to rank even unlisted entities as many of them are already market leaders even in the major Indian cities with huge market shares. Hence we have slightly distorted the real image here.

Piyush Lahiri
Mumbai (Maharashtra)

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Cultivating profits

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RCF continues to get ‘Excellent’ ratings from the government since the past five years...
Rashtriya Chemicals & Fertilizers Ltd (RCF), a leading PSU with an ISO14001 certification, is not only amongst the top producers of fertilizers in India (with brands like Ujjwala Urea, Microla and Biola), but is also known for pioneering the manufacturing of basic industrial chemicals. RCF churns out 2.4 million tonnes of fertilizers annually (at a capacity utilisation of 88%) at its Trombay and Thal facilities in Maharashtra.

The company reported a net profit of Rs.1.48 billion in FY06, a rise of 4.96% over the previous fiscal. The company’s net sales also climbed to Rs.30.47 billion during the same period. U. S. Jha, Chairman & MD of RCF acknowledges, “We believe that there are adequate triggers for growth. Though there may be some volatility in near term... in the long run, the company will be able to improve its margins signify cantly.” The company has draft ed a Rs.34.6 billion expansion plan spread over the next three years. In August this year, RCF also unveiled its plans to set up an integrated fertiliser plant in Australia for Rs.24.6 billion. The next time you hear about them, remember, they’re our sectoral #1!

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Salubriously ‘Effervescent’

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Investment in R&D, as well as the development of new drug molecules, has not been a paramount directive for the industry. Generics have formed the backbone, and the country has excelled at that, leaving patented original developments outside its purview. Providing cheaper and good quality derivatives to the masses in India and other third world countries, today there are about 20,000 registered manufacturers across the country manufacturing medicines worth $300 billion. Liberalisation of the economy has further helped the industry, as now duties on expensive imported equipment vital for manufacturing have come down considerably. The country is home to corporations like Ranbaxy, Cipla, Wockhardt and Dr. Reddy’s Labs, which have established themselves as trusted multinationals with operations spreading magnanimously to the European & American continents.

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B&E this fortnight

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HP Chairwoman’s Dunn by pretexting!
She is often referred to as being charismatic and an expert at whatever she does. She pursued a course in journalism at the University of California working along side as a part-time reporter. Her skill for handling people got her recognised and eventually paved way for her successive promotions at Wells Fargo Investment Advisers. Plagued by breast cancer, she stepped down as the CEO of Barclays Global Investors. Yes, we are talking about none other than Patricia Dunn, who came to be associated with HP in 1998 as a board member and soon rose to the post of the Executive Chairman. But January 2007 will see Dunn stepping out, only to be succeeded by the current CEO Mark Hurd. This down turn in her career comes in the wake of a scandal where the board members were spied on to find out who was responsible for disclosing information from board meetings to the press. And all this is known to have taken place with Dunn’s approval. It was revealed that, a firm hired by HP resorted to pretexting (lying about one’s identity) to get their hands on the personal phone records of nine journalists, directors and employees of HP. Pretexting is actually unlawful in California. There are also chances that Dunn may be tried by the law.

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A few Bollywood directors on TVC’s
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