Management Buzz

Want to succeed : Try Double Standards

2006-03-18T07:40:00.000-08:00

Take the case of Indians working abroad, if they get paid in dollars they would work for even 14 hours a day in extreme conditions of stress and strain, but if they are working in India they work only as strong as Rupee. Otherwise take medical tourism. 1,50,000 people visit India for getting treated every year ( and increasing). I have myself experienced some third class service from Indian doctors.

But if earnings is in dollars, Well, "Atithi Devo Bhava".

Of Propriety and Impropriety : Case Study

2006-03-06T00:01:00.000-08:00

For months now people have been watching the circus of an IAS cadre police officer Panda in Lucknow donning the role of Radha. A lot of drama has taken place but nobody seems to understand the proper procedure to be followed.The wife of the officer and the authorities concerned dont seem to understand that the officer may have broken down due to stress or some intoxicating drug administered on him. He needs to be sent for a mental check up. If he refused he should be cajoled or forced. Most probably he is suffering from manic depression or acute schizophrenia or may even be feigning madness for some reason or the other. Proper reasons should be found and treatment given. Later he should be sent to wellness center for complete recuperation and then rehabilitated back into job in a profile which suits his mental fitness.

I think "Tere Naam and Kyun Ki", have failed in generating the awareness about mental sickness in India.

Unrelated Diversification

2006-03-05T23:58:00.000-08:00

Pantaloons Retail India is entering into healthcare, beauty and wellness. Other day there was a news item saying that Indian Post Office in Gujarat would sell Herbal Products of Aloe Vera Company. I also saw a notice hanging in a particular post office in mumbai saying , "RK Laxman's Cartoon CD available here Price : Rs.210". It seems that globalisation and privatisation has taught the Ostrich's of the Indian green pasture to remove their heads out of the proverbial sand and start thinking out of the box.Well hopefully these and other innovative products like Tele Money Order will see post offices through rest of the 21st century. One drawback of Indian Post Offices is that they look like cowsheds or horse stables in dilapidated condition. Some post offices also sport cats on their selling counters. Some professionalisation of the management through training or bringing in fresh outside blood and good hygiene and ambience would help.

"Indian Corporates and Multinationals dont underestimate the sophistication of Indian Consumers".

How to grow Sales

2006-03-05T23:56:00.000-08:00

Sales can be grown not by selling more products but only through marketing and branding your products. Growth of sales is not an activity it's a strategy. It encompasses consistently communicating to your customer not through advertisements but through honest intent that you care for the customer. Its not just sending a sales representative to meet somebody and closing a sale and then harping about it in the annual report.

It's a lot more than that especially in this global world.You need to educate the customers about the product. Some industries even though in nascent stages have taken up this task. Mutual funds for example are even ready to offer you customized investment advice if you drop in ; also they try to educate you through brochures and reports. Other mature companies in industries should take a lesson. If you don't respect your customers you got no business doing business with them. Employees should be trusted in being courteous to customers. Word about bad service or rude behavior spread fast. Your employees should be your brand ambassador no doubt, add to it the fact that good behavior can make a customer your brand ambassador free of cost.Its not just about closing a sale and forgetting about the whole episode. It is providing good after sale service and maintenance. Its about trust and relationship. Its about the promise of quality and of product value or style whatever the customer desires. It entails understanding the customer needs and expectations and delivering the same again and again with constant improvements in process and continuous innovation.

There are two types of customers one existing other potential or prospective customers. The customer experience of your handling can make or mar the growth through any of these two types of customers. This is the age of freedom of expression, one wrong act on your part may invoke bad business press and spoil your growth party. You may argue what if I buy the silence of press? But friend, there are other ways like blogging and word of mouth. How would you stop these? Induce existing customers for repeat business and also keep adding new ones. All these measures are not sufficient but necessary to do business even in a third world country.

" Stop selling, start understanding and MARKETING".

Give me a Choice

2006-03-05T23:54:00.000-08:00

In certain parts of Europe and Asia customers are able to choose their own bouquet of TV channels i.e. they pay only for the individual channels that they want to view. Now, this is something I call consumer choice. Any such move would also be welcome in India. In India we pay to see what the cable operator wants us to view. There is a choice of DTH but even that limits us to certain channels.

"Aisi Azaadi Yahan Kahan".

Critics are not Enemies

2006-03-05T23:53:00.000-08:00

Most people think that critics are not their well wishers. In workplace as well as in everyday life people who are not yes man sometimes come out with fresh approach and new perspectives on issues. You are not always the best judge and analyst of all situations so listening to what your so called dissidents have to say may sometimes save your soul.

"Don't always fancy Sycophancy".

What is Six Sigma?

2006-03-05T23:49:00.000-08:00

Six Sigma is a Quality program comprising of four steps to be applied to processes and transactions.

1. Measure : Analyse the process to find out what are the critical variables effecting quality. Find out the number of defects based on this variable. For example a quality measure could be 10x hardness. Any hardness measured to be greater than 10x would then amount to be a defect.

2. Analyze : Using techniques like brainstorming and statistical tools find out the cause of defects. Find out the variable whose variation is leading to the defect.

3. Improve the Process : Improve the process to keep the identified variable's variation to acceptable limits.

4. Control : Make sure that improved process is being executed properly.

How to monitor the progress of Six Sigma Program?

1. Customer Feedback : Ask the user to grade your quality in a point scale.

2. Measure the cost of Quality : Inspecting the products, scrap and rework and warranties to be executed due to defects all contribute to the cost of the quality.

3. Monitor Supplier Quality : The supplier should be made to correct any defects arising in your process because of supplier error.

4. Internal Performance of the Company: It is the ratio of defects to all possible defect opportunities.

5. Design for Manufacturability : At design stage see if drawings and specifications conform to quality variables and percentage of these quality variables which are designed to Six Sigma.

"Quality has a cost of conformance and a pay-off of compliance".

How to build a Motivated Workforce?

2006-03-05T23:47:00.000-08:00

To build a motivated workforce the company should be clear about their values and constantly reward and recognise the contributions of those employees who exhibit these values. Those who do not exhibit these values have to either be coached and brought into line or let go.There should be reward and recognition for employees who exhibit excellent team work, best customer relation, execution excellence, accountability and good leadership values. Leadership awards and other awards should be declared and some cash prize would do wonders.Also look at the employee welfare activities like club membership, parties, outings, games and other competitions where people get together and enjoy and at the same time getting to know each other better. Performance related payment is also a great motivator.

Times Group : Media Conglomerate

2006-03-05T23:45:00.000-08:00

The times group has media presence in

a. Newspapers : The Times of India, the Economics Times, Navbharat Times, Maharastra Times.

b.Radio Mirchi 98.3 FM

c. TV Channels : Zoom, Times Now

d. Internet Portal Offering B2C e-Commerce, chat, e-mail, matrimonial, dating and lots of fun.

e. Magazines : Femina & Filmfare

"Times belong to the Times Group"

Skimming Price Strategy : Marketing Mantra

2006-03-05T23:40:00.000-08:00

Skimming price strategy is operated by first placing the product at the premium end ( i.e. high price) targeted at status conscious audience. After that segment is exhausted the price is progressively reduced to target the middle class and finally the lower class.A drawback of this strategy is that the brand value may be destroyed because what is offered to the lower and middle class high class people would not touch. But the advantage for the company is that profit and revenue are maximized.

" While skimming, tread with caution".

HRD Concepts: Temping

2006-03-05T23:37:00.000-08:00

Temping is the process of hiring temporary employees as and when need arises to keep the annual salary budget down. Disadvantages arising may be a lack of proper teamwork because of new people entering the group, dysfunctional group dynamics due to changed relationship patterns, temp could be a corporate spy. The advantage is that fresh ideas and technical expertise can be brought into the company.