A 25 bps rate hike will be a good policy

Deepak Parekh, chairman of India's oldest mortgage lender Housing gage lender Housing Development Finance Corp. Ltd (HDFC), does not want India's banking regulator to raise rates aggressively in its monetary policy that is to be unveiled next week. “We have to live with some amount of inflation if we want high growth”, Parekh said in an interview. He also spoke on subjects ranging from inflation to the state of affairs in the real estate sector and so-called teaser home loans. Edited excerpts: What's your take on inflation and the interest rate scenario?

Inflation is high. It first started off in India due to food inflation.
Part of it was mismanagement. Suddenly sugar and onions disappeared from the market. I personally believe that it is the middlemen, the bad distribution channels and the poor ware- housing capabilities that we have for our agricultural pro- duce that are the causes of inflation.

It started with food inflation; got transferred to commodity inflation and finally to oil inflation.
The latest numbers are showing that we are seeing inflation in manufacturing as well.

Business News

·        Lupin to raise limit on buying of shares

·        Private firms to help Irda to check frauds

·        PM body to review trade treaties today

Marketing Glossary

Early Adopters

Those who are among the first to buy a new product or service, typically in a new product or service category, when it is launched.

Early Majority

The large portion of the market that tends to adopt a new product or service (typically in a new product or service category) only after it has gained some level of acceptance and credibility in the market.

End Matter

(Also called "back matter.") Items placed after the main body of a document. Examples of end matter include appendices and indices.

Thought of the day

“If it’s sanity you’re after, there’s no recipe like laughter.”

                                                                                               ~ Henry Rutherford Elliot

Health tips for Ishanian

Yoga

You're never too young or too old to reap the health benefits of yoga. Find out how all types of yoga can improve your health.

Yoga, the Sanskrit word for "union", is a practice that uses posture and breathing techniques to induce relaxation and improve strength, and its health benefits may surpass those of any other activity. Whether you practice yoga to relax, stretch, breathe, meditate, or simply because it's in fashion, you may not realize the numerous health benefits of yoga. And while there are many different kinds of yoga, ranging from the more gentle hatha yoga to the more strenuous, like Bikram yoga (which is performed in a 105°F room) or power yoga, every form of yoga improves your health from head to toe. Here are some of yoga's many health benefits.

Benefits of Yoga to Your Bones, Muscles, and Joints

• The physical benefits of yoga are myriad. Yoga keeps your body strong, as it involves all the muscles in your body to hold and balance yoga asanas (poses). The various yoga postures strengthen your feet, legs, hands, abdominals, lower back, legs, and shoulders.
• Yoga's stretching and breathing exercises improve your flexibility, helping joints, tendons, and muscles stay limber. People suffering from osteoarthritis or rheumatoid arthritis will see a noticeable improvement in their stiffness, pain, and other arthritic symptoms by practicing yoga poses and postures.

Customer Satisfaction in 7 Steps

It’s a well known fact that no business can exist without customers. A for example in  the business of Website design, it is  important to work closely with our customers to make sure the site or system we  create for them is as close to their requirements as we  can manage. Because it’s critical that we form a close working relationship with our client, customer service is of vital importance. What follows are a selection of tips that will make our clients feel valued, wanted and loved.

1. Encourage Face-to-Face Dealings

This is the most daunting and downright scary part of interacting with a customer. If youe are not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured, though, it does get easier over time. It’s important to meet our customers face to face at least once or even twice during the course of a project.

 A client finds it easier to relate to and work with someone they’ve actually met in person, rather than a voice on the phone or someone typing into an email or messenger program. When you do meet them, be calm, confident and above all, take time to ask them what they need. I believe that if a potential client spends over half the meeting doing the talking, you’re well on your way to a sale.

2. Respond to Messages Promptly & Keep Your Clients Informed

This goes without saying really. We all know how annoying it is to wait days for a response to an email or phone call. It might not always be practical to deal with all customers’ queries within the space of a few hours, but at least email or call them back and let them know you’ve received their message and you’ll contact them about it as soon as possible. Even if you’re not able to solve a problem right away, let the customer know you’re working on it.

A good example of this is my Web host. They’ve had some trouble with server hardware which has caused a fair bit of downtime lately. At every step along the way I was emailed and told exactly what was going on, why things were going wrong, and how long it would be before they were working again. They also apologised repeatedly, which was nice. Now if they server had just gone down with no explanation I think I’d have been pretty annoyed and may have moved my business elsewhere. But because they took time to keep me informed, it didn’t seem so bad, and I at least knew they were doing something about the problems. That to me is a prime example of customer service.

Mahindra takes aim at Minivan Market

Mahindra and Mahindra Ltd, the country's largest utility vehicle maker, has launched a minivan, a derivative of its Maxximo minitruck, to compete with Tata Motors Ltd's Magic and Maruti Suzuki India Ltd's Omni.

With this, Mahindra hopes to capture a slice of the market for minivans in small towns and cities. Tata's Magic is the segment leader and sells 5,000-6,000 units a month. The market for mini- vans is about 140,000 units a year, Mahindra said.

Minivans are emerging as the top choice for both entry-level contract and stage carriages, said Rajesh Jejurikar, chief executive of Mahindra's automotive division.

Priced at `3.2 lakh (in Navi Mumbai, excluding taxes and insurance), Mahindra's minivan is `1,500 dearer than the Magic.

In the absence of a formidable competitor except the Magic, the new offering augurs well for Mahindra, said Surjit Arora, an analyst at Prabhudas Lilladher India Pvt. Ltd. But like Tata's Ace, a mini-truck with a payload capacity of less than 1 tonne, the Magic will continue to enjoy the first- mover advantage, he said.

Tata Motors created a new segment when it launched the Ace in 2005. Similar offerings from rivals such as Piaggio Vehicles India Pvt. Ltd, Force Mo- tors Ltd and Mahindra have entered the market but they have not been able to dent Tata Motors' share much. The Ace continues to sell 15,000-16,000 units a month. Mahindra spent `130 crore on its minivan project. The vans will roll out from its factory in Chakan near Pune. The line that makes the Maxximo truck has a capacity to manufacture 6,000 vehicles a month.

Business News

• Tata to invest 8mn in Scotland plant
• Emani Paper in talks to acquire mills
• Superhouse acquires Briggs Industrial
• NMDC seeks partner to set up power plant

Thought of the day

See and think of yourself as a leader and then do what leaders do. Dare to go forward.

IT Glossary

BMP

1. Bit map image. Bit map image files normally have the file extension .bmp.

2. Basic Multilingual Plane.

Compression

To reduce in size. The amount of storage space required to store data can be reduced if the data is compressed.

Connectionless Protocol

A protocol where there is no handshaking between the sender and receiver. In a connectionless protocol neither the delivery of messages nor the correct sequencing of messages is guaranteed. UDP is an example of a connectionless protocol.

Capital Gearing

Gearing, or leverage, describes the mix of long-term corporate funding provided internally (by shareholders) to that contributed externally (by lenders).

Capital gearing' is used to indicate the relative proportion of fixed cost bearing securities such as preference shares and debentures to the ordinary share capital in the capital structure. Interest of equity share holders is represented by the amount of share capital plus retained earrings and undistributed profits. The degree to which a company acquires assets or to which it funds its ongoing operations with long- or short-term debt. Capital gearing will differ between companies and industries, and will often change over time.

Types Of Capital Gearing

1.       Low-Geared

2.       High-Geared

The ration of fixed interest loan and preference shares to the ordinary share capital of a company. A company in which the ordinary share capital is greater than its loan funds is called low-geared, while the opposite kind is called high-geared. The ordinary shares of a company are called equity; hence capital gearing is also known as equity gearing.

Story Board of Havells Wire

Agency: Lowe Lintas
Category: Household Product

 

The TVC begin with religious ceremony performing by a family...

A little kid present at the ceremony, he tries to get away from it but his mother doesn’t let him do so

 While performing the rituals, kid's mother constantly pouring ghee in the fire with a spoon...








And keeps losing the spoon to the fire and keeps burning her hand

Again he is trying to escape, the kid gives signals to the mother to say that he wants to go to the restroom.

We’re experimenting with new categories

Ananya Bubna, managing director, Groupon India, said in an interview that the company is now taking country- specific steps to attract customers. Groupon, which raised $950 million (`4,237 crore) earlier this year after it turned down a $6 billion acquisition offer from Google Inc., plans to expand beyond the 11 Indian cities it is present in. Edited excerpts: You entered India by acquiring Friday Media Pvt. Ltd, promoter of SoSasta.com. Will acquisitions be a part of your expansion strategy here?

There are two parts to it. I don't see value in acquiring small players in a given region. We are learning things here and it makes a lot more sense for big players to establish offices and scale fast than acquire a small player. I see value in acquisitions for new verticals because we work in so many verticals and am open to having more deals in new lines. There is value in such partnerships. We can't be spending years in starting and scaling up a new vertical. We are not soliciting any partnerships right now but we are also not ruling them out.

Business News

• Devesh Kumar is RBS India equities head
• NIIT’s Pawar named Nasscom Chairman
• Sesa Goa looks to set up steel plants

Thought of the Day

“We live in a wonderful world
that is full of beauty, charm and adventure.
There is no end to the adventures that we can have
if only we seek them with our eyes open.”

                                                                               

                                                     – Jawaharlal Nehru

IB Glossary

International strategy

Trying to create value by transferring core competencies to foreign markets where indigenous competitors lack those competencies.

Law of one price

In competitive markets free of transportation cost and barriers to trade, identical products sold in different countries must sell for the same price when their price is expressed in terms of the same currency.

Lead strategy

Collecting foreign currency receivables early when a foreign currency is expected to depreciate, and paying foreign currency payables before they are due when a currency is expected to appreciate.

Project Shiksha

An initiative by Proctor & Gamble (CSR)

In keeping with the global philosophy of continuous development of the community, P&G in association with Sony Entertainment Television launched an education initiative ‘Shiksha – Secure Your Child’s Future’ across the country. In order to ensure P&G reached the non-Hindi speaking audience, a tie-up with three other channels in the south was undertaken. In the north, west, east, Karnataka regions – Sony TV telecast the promotion and announced winners on its No. 1 soap opera Kkusum, in Andhra Pradesh – Maa TV promoted Shiksha with Todi Kodallu, in Tamil Nadu – Jaya TV promoted Shiksha with Sahana and in Kerala – Asianet promoted Shiksha with Snehadooram.

Six Sigma: An Overview

Introduction:-

What is Six Sigma?

Six Sigma has at least three different meanings depending upon the context.  There is not one answer to what is six sigma? 

The first answer to what is six sigma is that it is a management philosophy.  Six sigma is a customer based approach realizing that defects are expensive. Fewer defects mean lower costs and improved customer loyalty. The lowest cost, high value producer is the most competitive provider of goods and services. Six sigma is a way to achieve strategic business results.

Another answer to what is six sigma is six sigma is a statistic. Six sigma processes will produce less than 3.4 defects or mistakes per million opportunities. Many successful six sigma projects do not achieve a 3.4 ppm or less defect rate.  That just indicates that there is still opportunity.

A third answer to what is six sigma is that six sigma is a process. To implement the six sigma management philosophy and achieve the six sigma level of 3.4 defects per million opportunities or less there is a process that is used.  The six sigma process is define, measure, analyze, improve and control DMAIC.

Definition:

“Six sigma is the structured application of tools and techniques applied on project basis to achieve sustained strategic results”.

Consumer durables firms look to expand customer base in India

The Indian consumer durables market is being flooded with an ever-expanding range of appliances in the hope of expanding the custom- er base in a country where penetration levels of these product categories are still low.

LG Electronics India Pvt. Ltd (LGEIL), Samsung India and Godrej Appliances have as many as 70 models of air-conditioners, 100 kinds of refrigerators and 50 washing ma- chines each.

In the last three years, the number of models per category has steadily risen across brands and categories. For in- stance, MIRC Electronics Ltd, which sells ACs, washing machines and other durables under the Onida brand name, has more than doubled its AC models from 22 in 2008 to 47 in 2010. With the launch of its new range two weeks ago, LG now boasts of 51 AC models, 38 washing machines and 100 refrigerators.

Samsung launched three new premium refrigerators, taking the total to 109.

Such variety is unique to developing markets such as India where penetration of refrigerators is only 12-13%, washing machines is 5-6% and ACs is 4-5%, according to Y.V. Verma, chief operating officer, LGEIL and president of the consumer electronics and appliances manufacturers association (CEAMA).

In most developing markets, where companies are driven by the need to meet consumer expectations at affordable price points in a competitive scenario, they offer something for every pocket, said Giraj Sharma, director of brand consulting boutique Behind the Moon. Sharma handled sales at Onida and LG earlier.

Ramesh Shrinivas, executive director, KPMG Advisory Services Pvt. Ltd, agrees: “At this stage of growth in a country's durables sector, the increasing number of SKUs (stock keep- ing units) is a step to capture wider share by reaching as many consumers as possible".

Get the most out of networking online

While networking online, provide solutions, ask questions and offer ideas in various discussion groups ­ in short, showcase your values

Why is networking such an important part of the job search process?

Good networking creates and promote your brand statement.

Connecting with professionals in your field can be insightful in terms of understanding industry trends, hiring scenario and career management. Along with the routine hiring process, recruiters rely on finding candidates through trusted and reliable sources' networks, giving them a head start on the candidate's background, rather than a mere list of qualifications.

So, as a start to your job hunting process, try to join job networking groups on various online platforms and look for opportunities to connect with fellow professionals and reach out for advice and information about vacancies. However, before you actively start sending out requests for informational interviews, recommendations and queries on available vacancies, take note of some common networking protocols: Engagement is the keyword: Participating in networking groups is quite different from being on job sites.
Instead of sending routine applications to job postings and waiting for an interview call, online groups depend on active engagement. Not everybody is job hunting like you ­ people connect for various networking opportunities (entrepreneurial ventures, seek freelance projects, etc.) so find common grounds to connect on and strike up conversations.

Business News

·        Mahindra renames Logan as Verito

·        Dailmler gets RBI nod to set up NBFC

·        Tata to retain its stake in Riversdale

Thought for the Day

“It’s a helluva start, being able to recognize what makes you happy.”

                                                                      ~ Lucille Ball

Marketing Glossary

Double Truck

Print advertising that uses any two full side-by-side pages (not necessarily the center ones, see "center spread") in a publication.

Dummy

1. A mock-up of a print piece showing placement in and the nature of the marketing communication vehicle.
2. A fictitious name in a mail, telephone or e-mail list placed solely for the purpose of tracking the use of the list to ensure that the list purchaser or renter does not break the sales or rental contract.
   
   A similar term, "decoy", is a real name included for this purpose. The decoy person, household or organization either works for the list owner/broker or otherwise agrees to help by reporting any misuse.
   
   The process of including decoys or dummies is called "seeding" or "salting".

Great Tips for Improving Business Communication Skills

The best tips for improving business communication skills are just as valuable if not more so than your knowledge of a particular business so tips for improving business communication skills are very important and should be made a priority.

If learning some tips for improving business communication skills is something you would like to focus on then consider the following suggestions and implement them into your work life.

1.OpenCommunication
If you are in management then you need to use these tips for improving business communication skills and focus on open communication throughout the business and with all staff members. The reason for this is employees have specific knowledge of their focus area and can provide insight you are not privy to in management.

This will help the business grow and be more successful. Also, when there is open communication problems can be avoided because the lines of communication are open and individuals feel comfortable sharing information. This is really important and one of the best tips for improving business communication skills - something you will want to focus on significantly.

Always encourage employees to share information, whether good or bad, because it will help the business as a whole.

2.Consistency
If you are interested in tips for improving business communication skills and in communicating effectively then you always need to be consistent. When you are not consistent you cause confusion which leads to misunderstanding. When you are consistent in your thoughts, actions, and treatment of others you create a calm environment where individuals feel respected and open.

Affordability Dictates Asset Ownership

The heterogeneity that characterizes the modern Indian Consumer has created a maze that marketers would like to unravel in order to target their products and services precisely. In this fortnightly series, Indicus Analytics presents the various facets of urban consumers, across geographies and socio-economic groups.

The second largest sub-segment of urban SEC E households is formed by households whose chief wage earner is middle-aged and married with young children. The chief wage earner is an unskilled worker with low levels of education--a majority have completed just primary school.

With little educational backing, most of the chief wage earners have managed to find work as casual workers; while a little less than one-third have their own businesses, which would include small kiosks, hand carts, etc., essentially in the trade sector. A little over one-quarter of chief wage earners have regular salaried jobs at the lowest level in small businesses or households.

Broadly, the source for livelihood in this category comes from the unorganized sector, with just about 7% working with the government or private sector companies.
Those who work in large firms or the public sector would have completed middle school, but again, would be at the lowest rungs of income.

When it comes to sectors of employment, construction and real estate account for jobs to almost half the segment, followed by manufacturing, transport and communication, and agriculture and related activities. The presence of the last category shows low education and skill base restricts employment to primary activities.

Even in metros, there is a minuscule percentage of people involved in cropping, fishing, etc. This sector forms a major source of livelihood in urban areas of districts such as Medinipur, Bellary, Jalgaon, etc.

Households in this category typically consist of four to five members. These are, to a large extent, nuclear families and less than 10% have senior citizens. Around 40% have more than two children, even in the lowest income segments in urban areas.

Business News

• Lemon Tree in pact endosulfan protest
• Sebi to start toll-free helpline for investors
• Oil price rise to affect India’s Growth

Thought for the Day

“Never bend your head. Always hold it high. Look the world straight in the eye.”

HR Glossary

Emotional Intelligence

Describes the mental ability an individual possess enabling him/her to be sensitive and understanding to the emotions of others as well as being able to manage their own emotions and impulses.

Employee Relations

A broad term used to refer to the general management and planning of activities related to developing, maintaining, and improving employee relationships by communicating with employees, processing grievances/disputes, etc.

Employee retention

organizational policies and practices designed to meet the diverse needs of employees, and create an environment that encourages employees to remain employed.

Empowerment

The process of enabling or authorizing an individual to think, behave, take action, and control work and decision-making in autonomous ways.

Economic Glossary

Lagging indicators

Old news. Some economic statistics move weeks or months after changes in the BUSINESS CYCLE or INFLATION. They may not be a reliable guide to the current state of an economy or its future path. Contrast with LEADING INDICATORS

Nafta

Short for North American Free-Trade Agreement. In 1993, the United States, Mexico and Canada agreed to lower the barriers to trade among the three economies. The formation of this regional TRADE AREA was opposed by many politicians in all three countries. In the United States and Canada, in particular, there were fears that NAFTA would result in domestic job losses to cheaper locations in Mexico. In the early years of the agreement, however, most studies found that the economic gains far outweighed any costs.

Nash equilibrium

An important concept in GAME THEORY, a Nash equilibrium occurs when each player is pursuing their best possible strategy in the full knowledge of the strategies of all other players. Once a Nash equilibrium is reached, nobody has any incentive to change their strategy. It is named after John Nash, a mathematician and Nobel prize-winning economist

Corporate Mania

1) Name the news channel owned by DAINIK JAGRAN?

 2) Which company was involved in a controversy for having used Adolph Hitler's picture in its advertisement?

3) Where are the Head Quarters of Asian Development Bank?

4) Which company is India’s largest synthetic textile producer?

5) Whats does TIPS stand in TIPS Cassettes Industries?

6)  Which publishing group owns Star News?

     

7) Which is the largest traded e-commerce site in India?

8) Which are the two production companies floated by ShahRukh Khan??

9)Which Indian company is the largest producer of denim in the world?
     

10) ITC and HLL each has started CSR (Corporate Social Responsibility) initiatives. What    Were they?

     

Answer-

                  Channel 7

                        Louis Philippe

                  Manila

                        Reliance

                        To Improve and Promote Singing

                        ABP-Anand Bazaar Publications

                        http://www.irctc.com/  tickets booking site of Indian Railways

                        Dreamz Unlimited / Red Chillies Entertainment

                        Arvind Mills

                  E-Choupal n Project Shakti

Mukesh Ambani

Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company; Chosen as ET Business Leader of the Year 2006; Ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004.

Mukesh Ambani is the face of new emerging India. He is the Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company.

Mukesh Ambani was born on April 19, 1957 in Mumbai. His father Dhirubhai Ambani was then a small businessman who later on rose to become one of the legends of Indian industry. Mukesh Ambani did his Bachelors in Chemical Engineering from University of Bombay and Masters in Business Administration from Stanford University, USA.

Mukesh Ambani joined Reliance in 1981 and was the brain behind Reliance's backward integration from textiles into polyester fibres and further into petrochemicals. During the process of backward integration, Mukesh Ambani led the creation of 51 new, world-class manufacturing facilities involving diverse technologies that raised Reliance's manufacturing capacities manifold.

Why employee empowerment is not just a fad

The world is moving too fast for the old, traditional means of control. Customers are demanding more than ever. The rapid advances in technology are making it necessary to adapt constantly to change. Rapid change has shortened the window for data to be of value to the organization; thus, employees must be empowered to analyze those data effectively and to respond quickly. Competitive advantages tend to be temporary ones. It is an era of intense change, where flexibility and innovation are required to compete effectively. The "push" of increased competition and the "pull" of new opportunities, both very much driven by advanced technology, make full utilization of human resources necessary. Employees must be encouraged to take the initiative to decide, act and learn in "real time". This means embracing shared values as a guide to behaviors. "As speed, quality, and productivity become ever more important, corporations need people who can instinctively act the right way, without instructions, and who feel inspired to share their best ideas with their employers”.

The empowered employee ultimately acts like one who is self-employed, with responsibility for both results and career In effect, the motivation comes from within and is based on needs for self-efficacy .Employees feel empowered when they have a sense of influence, competence, meaningfulness and choice. This is the power of tapping intrinsic motivation, associated with commitment as an internalized desire to take personal responsibility for work efforts and results. When commitment is obtained from employees aligned with the firm's core ideology, significant authority can be given to those on the front line for responsiveness to the marketplace

Consumer spending surge seen boosting retailers’ earnings

Some companies may face margin pressures, but analysts expect a significant jump in profit and revenue

Analysts expect retailers to report a significant jump in revenue and profit in the January to March quarter, thanks to a surge in consumer spending.

However, many analysts expect profit at the largest retailer, Pantaloon Retail (India) Ltd, to be flat or decline due to margin pressure, interest payments and expected losses from the home segment.

Sangeeta Tripathi, who tracks retail companies for Sharekhan Ltd, said she is “bullish” on revenue as there has been a rise in shoppers. However, net income may be a mixed bag--high profit of 37% for Titan Industries Ltd to a possible 16% decline in the same measure for Pantaloon.

“There will be pressure on Pantaloon's margins and higher interest cost will impact its profitability”, Tripathi said, adding that interest outgo on debt for the quarter was `100 crore.

Sharekhan expects Pantaloon's revenue to jump 32% to `2,712 crore from the year earlier, while profit will shrink to `47 crore from `55.8 crore.
Sharekhan expects the second largest listed retailer, Shoppers Stop Ltd, to maintain momentum on sales and margins.

Tripathi expects Shoppers Stop's sales to rise 20.9% to `460.7 crore and profit to swell 23.6% to `15.7 crore. “Shoppers Stop doesn't have debt on its balance sheet and it's a clean book,“ she said. Therefore, what- ever margins the company earns will be reflected in the profitabil- ity, she said.

Business News

• Ex- Porsche CEO Andy Goss joins JLR
• ‘Nano’s overseas production site soon’
• Hindustan Copper to open Jharkhand mine

Thought for the Day

“A proud man is always looking down on things and people; and, of course, as long as you’re looking down, you can’t see something that’s above you.”

                                      ~ C.S. Lewis

Insurance Glossary

Combined Ratio After Policyholder Dividends - The sum of the loss, expense and policyholder dividend ratios not reflecting investment income or income taxes. This ratio measures the company's overall underwriting profitability, and a combined ratio of less than 100 indicates an underwriting profit.

Commercial Lines - Refers to insurance for businesses, professionals and commercial establishments.

Commission - Fee paid to an agent or insurance salesperson as a percentage of the policy premium. The percentage varies widely depending on coverage, the insurer and the marketing methods.

Weekly Dose

• Chess was invented in India.
• Algebra, Trigonometry and Calculus are studies, which originated in India.
• India is the largest democracy in the world, the 7^th largest Country in the world, and one of the most ancient civilizations.
• India has the largest number of Post Offices in the world.
• The largest employer in India is the Indian Railways, employing over a million people.

The power of storytelling: What nonprofits can teach the private sector about social media

Learn how to harness the power of social media in this case study excerpted from The Dragonfly Effect, by Jennifer Aaker and Andy Smith. Then hear more from the authors in a conversation with McKinsey’s Dan Singer.

Companies are spending countless hours and millions of dollars trying to master social media. Is this a revolutionary platform that can drive everything from customer relationships to product development—or just another form of marketing? In a new book titled The Dragonfly Effect, Stanford University marketing professor Jennifer Aaker and marketing strategist Andy Smith seek to answer these questions by examining numerous examples of social media at work, distilling a framework for inspiring infectious action.

Business News

• Kimura is CEO for Renault-Nissan plant
• Air India may swap debt for equity
• Jindal Steel plans to acquire Rocklands
• Tata Steel, Rio Tinto in licensing pact

Thought for the Day

“I love those who can smile in trouble, who can gather strength from distress,
and grow brave by reflection. ‘Tis the business of little minds to shrink,
but they whose heart is firm, and whose conscience approves their conduct,
will pursue their principles unto death.”

Commerce Glossary

Fundamental Analysis: A method used to evaluate the value of a security, by which an investor would carefully examine the company's financial and operations, particularly sales, earnings, growth potential, assets, debt, management, products, and competition figures. Fundamental analysis considers variables that are directly related to the company itself, whereas technical analysis considers the overall state of the market. 

What is the Point of Performance Appraisal?

Probably the most misused and abused and disused management tool in history is the performance appraisal. It's the strangest thing. Ask any manager or human resources person whether they think performance appraisal is an important thing to do, they are almost unanimous.

The odd thing is that they often don't get done, and managers, supervisors and employees hate the darned things. Human resource professionals spend a lot of time whipping people into doing them, while managers look for a variety of reasons to delay and delay. Why is that?

Product Line of Larsen & Toubro

Turnkey Projects:

·        Hydrocarbon

·        Carbon

·        Water

·        Cement & Allied Machineries

·        Engineering services

·        Railway Projects

Construction:             

·        Construction Services

·        Building Products

·        Infrastructure Concessions

·        Engineering services

·        International projects

We are dominating the generics industry

Dr Reddy's Laboratories Ltd founder-chairman Kallam Anji Reddy spoke in an interview about the evolution of the pharmaceutical industry and emerging trends as well drug discovery research and generic medicine. Edited excerpts: On evolution of the Indian pharma industry To start with, pharma was an industry based on innovation, drug discovery. When Big Pharma discovered drugs way back--I am talking about 25 years back--when someone started to make generics, they first said how you can equate a copycat to us, even though the patent has expired. When the government insisted that you have to have a criterion by which you can call it equal, then Big Pharma itself said there is what is called bio- equivalence.

If you establish the bio- equivalence of a generic drug, then you can allow them. One company, for example, several years ago made a bioequivalent version of a Pfizer drug, and then when the bio-equivalence was as good as or even better than Pfizer's, then they said it's not bio-equivalence alone.

Those were the days when I was actually doing my PhD in NCL (National Chemical Laboratory, Pune)--I am talking about 1965-66--so 35 years ago. There was a stinging editorial in an American pharmaceutical journal--what do you mean by not bio-equivalence alone; is it something special or is it something which cannot be scientifically proved? So they (Big Pharma) had no arguments.

Thought of the day

“The problem of power is how to achieve its responsible use rather than its irresponsible and indulgent use of how to get men of power to live for the public
rather than off the public.”

                                                                                        ~ Robert F. Kennedy

Business News

o       Wal-Mart to acquire social media site

o       Fortis board nod for Super Religare buy

o       L&T seeks nod for demerger