A focus on processes and paying attention to institution building are the key factors when it comes to building durable brands
 
Let’s be clear about one thing even as we swim and drown in the maddening modern day version of the Tower of Babel called mass media – brands as entities are relatively new concepts as compared to democracy and capitalism. In turn, democracy and capitalism as freshly minted babies as compared to the oldest generic brands in the world called religion and God. If you are boning up on marketing principles and the 4 Ps of advertising as an MBA student in 2012, don’t be shocked by the fact that some of the biggest brands that you take for granted as part of your daily life did not exist even 20 years ago. Try Google Search if you don’t believe me! Or chat with your pals using a new app through Airtel or Vodafone! If you are lucky, you might be using an iPad!!

That’s the first lesson we all must imbibe when we sit down to applaud and analyse the most valuable brands: the simple fact that like seasons and fashion, brands come and go. Many go forever. When I was a young journalist in the late 1980s and early 1990s, BPL was arguably the most formidable brand in India when it came to colour television sets. You, the MBA student circa 2012 probably haven’t heard of BPL. Back in the late 1990s, when Internet usage and email were gathering momentum, the hottest brands were Hotmail (remember Sabeer Bhatia?) and Yahoo. I had three Yahoo mail ids and two Hotmail ids. The last time I used my Hotmail id was in 2006 and the last time I used my Yahoo id was in 2008. Who knows? By the time you, the MBA student, become a senior manager, you might confess to something similar about Gmail! The fact is, in this age of rapidly evolving technology, it is but natural for new brands to emerge and many to fade away. But do remember, there will always be a world of brick and mortars – even if you have become a fan of Flipkart! And there will always be a lot of punch in that old proverb called Old is Gold! Some brands in our list of 100 actually go back more than 100 years. Like Tata, Taj Hotels, Pepsi, Coca Cola .... these brands were born when democracy itself was not such a powerful and flawed brand. And the unbelievable thing is that they have endured. Of course, Tata as a brand is both generic and a mother lode. The Tata brand by itself has spawned and sustained many formidable brands like Taj Hotels, Titan, and Voltas, to name a few. Don’t forget, the first Maharajah of post independence India which is now in tatters, Air India, too was a product of the Tata stable. In that respect, the pedigree and durability of the Tata brand is unmatched. No other brand in India – except perhaps SBI and LIC – evokes that kind of trust and comfort level. Well, you could add Godrej and Dabur to that list of old and durable warhorses and perhaps even add Mahindra & Mahindra to that select list. Even the powerhouse Reliance (RIL) would find it difficult to join that hallowed list.
 
Of course, when it comes to stubborn durability, I have two personal favourites in my personal list of valuable brands in India. The first is called the Congress. For almost four decades, pundits have been busy writing epitaphs of India’s ‘Born to Rule’ party. Memory being very short, most of us have forgotten that 2004 was the last Lok Sabha election that the Congress was supposed to fight as a national party. There you go. In contemporary times, the failure of the New Gen hope Rahul Gandhi to deliver electoral victories has once again raised questions about the future of this brand. But I have a sneaking feeling this brand will remain stubbornly durable. Like Thums Up! When Ramesh Chauhan sold out his home made soft drinks empire consisting of Thums Up, Limca and Gold Spot to Coke in the early 1990s, most of us thought it was curtains. Two other home grown cola brands – Double Seven and Campa Cola – were already history. And Coke did stop promoting Thums Up because it was busy selling the most valuable brand on earth Coca Cola. Truly mysterious, but the Indian consumer simply would not give its stubborn love for Thums Up. Coke was forced to resurrect the brand and it is still going great guns even 20 years after its forecasted demise!

There are hundreds and thousands of similar fascinating tales when it comes to the coming and going of brands. But one thing is clear – a focus on processes and paying attention to institution building are the key factors when it comes to building durable brands. Even highly “individualistic” and eccentric brands like Virgin that depend on the flamboyant personality of Richard Branson have to pay homage to processes and institution building. Not many have a doubt that Virgin has a strong chance of remaining a durable brand even after Branson is gone from the scene. And do remember, even mighty entrepreneurs make bloomers when it comes to distinguishing between passing fads and bestsellers. Rupert Murdoch thought he had latched on to an all time classic when he paid an obscene sum to buy the blockbuster bestseller MySpace. Alas, it peeved to be a passing fad.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2013

An Initiative of IIPMMalay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned Links

SC slams AICTE's illicit control on MBA courses
MBA, MCA courses no longer under AICTE
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

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The Web 2.0 revolution promises to be just as important a driver of productivity growth as automation was in the 19th and 20th centuries
 
Corporate bureaucracies are on their way to extinction. A new organisational form is emerging that will break down walls and bring people together, and in doing so, capture new opportunities and develop innovative solutions.

This statement – repeated often as Web 2.0 evangelists preach that corporate adoption of social media tools will trigger an e-ruption of creativity, innovation and productivity at work – was actually made just over 40 years ago by Alvin Toffler in his groundbreaking book, Future Shock. In the intervening decades, one thought leader after another has made similar predictions.

Toffler’s forecasts – about how information technology would soon revolutionise knowledge management in organisation – never lived up to their hype in the 1970s or 80s. That, however, didn’t stop Jim Maxmin, CEO of Thorn EMI, from proclaiming at the end of the 1980s: “In the last decade, excellence in business meant doing one thing well. In the decade to come, you will have to do everything well, and do it everywhere. The image of the corporation as a pyramid is dead. The new corporation will be more like a hologram, with shared information making each person, each part, contain the whole.”

The future has finally arrived. What’s different this time around is that a broader consensus seems to be forming. Web technology has crossed a tipping point and is now truly global and on the verge of becoming accessible to all. What’s more, companies are finally beginning to realise this: following initial foot-dragging, many are now actively embracing Web 2.0 tools. In a recent McKinsey survey, more than two-thirds of respondents admitted to using social media tools in their companies. The revolution, it seems, is finally happening. But revolutions can be as disruptive as they are empowering. To quote Tapscott from Wikinomics: “The new participation (brought about by Web 2.0 adoption) will also cause great upheaval, dislocation and danger for societies, corporations and individuals that fail to keep up with the relentless change.” Clearly, if the e-revolution is indeed happening, then executives urgently need to rethink how they structure, organise and manage their companies. Their success in doing so will determine whether their companies ride the crest of the revolution or are swept away by it.

Towards the Networked Enterprise
The broad adoption of social media tools has the potential to unleash a huge transformation in the way companies operate, resulting in a wide range of benefits including enhanced collective knowledge and greater innovation. Following are four key ways in which Web 2.0 tools are transforming organisations.

Increased collaboration: In its report, McKinsey found that when companies incorporate social media across the organisation, “information is shared more readily and less hierarchically, collaboration across silos is more common, and tasks are more often tackled in a project-based fashion.” This should not come as a surprise. One of the major benefits of the networked structure is that it increases information sharing within-and-among disparate departments and divisions.

A democracy of talents: Deployed across organisations, Web 2.0 software constructs open-ended platforms on which, in theory, everyone is equal. Employees working in such a setting are much more likely to openly share ideas and information exclusively for the benefit of the organisation as a whole – something that is rare in hierarchical organisations.
 
A culture of trust: With the rise of Web 2.0-enabled corporations, workers at all levels of the organisation have a much greater say in the day-to-day running of the company, while also enjoying the benefits of a culture of transparency. This, in turn, engenders stronger feelings of loyalty and trust amongst employees. Sadly, many companies still seem to have an instinctive fear of social media in the workplace. In a 2011 study by Robert Half Technology, more than one out of three CIOs surveyed said that their firms did not allow employees to use social networking sites such as Facebook or Twitter. Some employees are even getting sacked when caught logging onto social networking sites at work. Such blind resistance to social media adoption – while understandable – is not only counterproductive, but also highly risky.

Potential productivity gains: While many companies view social media as a ‘time sink’, the reality is that tools such as blogs, wikis and RSS feeds offer the potential to significantly increase productivity – as was shown by two separate studies by MindLab and the University of Melbourne. The latter research found that productivity increases 9% among employees who are able to access the Internet for fun during work. Ironically, the managers who dismiss MySpace, Twitter and Facebook as a waste of time are frequently the same people who themselves waste valuable time with pointless meetings. Even in the face of such widespread disapproval, employees in most organisations are still managing to regularly access their favourite social networking sites; if they can’t log on via their computer, they will simply connect through their smartphones. A recent study found that 76% of respondents visited Facebook, LinkedIn and Twitter at least once a day. What’s more, much of this social networking activity was work-focused, with many employees reportedly using their social networks to showcase their companies, which builds brand recognition and supports organisational goals, from recruiting to sales. All of which begs the question: if social networks can be deployed for a company’s greater benefit, why isn’t everyone rushing to e-mpower their employees?

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2013

An Initiative of IIPMMalay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned Links

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
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IIPM : The B-School with a Human Face
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Having undergone a complete overhaul over the last year, the agency is treading new grounds on its big leap ahead; 4Ps B&M gets the inside dope
 
In January last year, when Dentsu Global decided to buy off Sandeep Goyal’s stake in their three advertising companies for a reported sum of Rs.240 crore, it expectedly took adville by storm. To this day, the deal remains one of the biggest stake sales in the advertising industry. And as many industry veterans called the deal highly overpriced, they were also voicing in the same breath that Dentsu had become what it had on the back of Sandeep Goyal only. With an investment of roughly Rs.10 crore from each founder in 2003, the agency reported revenues of Rs.200 crore in the first year of operation itself, which, by the end of 2010, grew to Rs.1,200 crore. So naturally, the exit of Sandeep Goyal could not have been an easy one. Add to that, the agency saw the subsequent & sudden departure of several top management members, creating a huge leadership crisis. But this wasn’t the only setback that the company suffered back then. The buzz within the industry that Dentsu Marcom was losing its creativity was getting stronger. It was possibly for these reasons that many of the existing clients of the agency either put their business open for alternative pitches or did not give them any new brands. With such monumental problems at hand, finding a successor to Sandeep Goyal could not have been an easy task.

However in June 2011, when Rohit Ohri acceded to the position, the ball of change began to roll. Soon after joining the organisation, Rohit quickly ascertained his priorities – to get the right people in the organisation and to enthuse creativity within the existing team. Between June 2011 and now, the agency has been on a hiring spree; both at the top and at the junior levels; having hired over 23 new people from a total of 63 employees, and there are plans to get more. Besides Rohit, the other senior executives including Titus Upputuru, the National Creative Director, Narayan Devanathan, the National Planning Head, Sunita Prakash, Vice President and Harjot Singh Narang, the Delhi Branch head, have all joined the organisation within the last one year, thus forming a completely new management team. However, what was a bigger challenge than forming a new team was the second priority – reinvigorating the creative environment in the organisation. But as the saying goes, when one door closes, another opens up. Something similar happened at Dentsu Marcom too. While the sudden departure of the senior management had left a crater within the agency, it also gave them the option to start afresh and to give the agency a whole new innings.

If you were to visit the agency, there’s little chance that you would be able to sense the turmoil the agency had been through over the past year. The office, done up all in white, has interesting stuff lying around including water guns (unloaded, thankfully), skytrooper masks and African idols. There’s music to add to the melee, with in-office cricket/football available for any employee up for the ask. Clearly, the bigger intent in all this has been to push forward the fun-element into the office environment. Of course, any agency plumping its creative front is expected to embrace a bohemian philosophy. But Dentsu is evidently paying more than lip service to this issue. One big plus from this effort has been that the newly hired top management bonds quite well. In the world of killing office politics, there’s quite some value in the previous statement.
 
Every morning, the three vertical heads, Narayan, Titus and Harjot, huddle up at one of the corner seating areas (note: never inside a cabin) to discuss the latest office affairs. Through this, not only can they easily update each other with the latest developments concerning the agency, but also can set the agenda for the day. For them, this informal chat session – coupled with home cooked food, they insist – is the perfect beginning to the day. It’s an example that they’re trying to set for each and every employee of the agency – about how to be motivated and excited about work, yet not lose the fun, trust and team work quotient.

Did we mention the ice cream vendor with his ‘thela’ whom we crossed paths with on the 10th floor? That’s the kind of impact that hits one in the agency. Every success is celebrated substantially and expansively too. The ice cream vendor, for instance, was part of festivities that were being held on the culmination of an extremely hectic work schedule spanning more than two months, during which period, many of the employees spent several days and nights consecutively in the office to meet some deadline or the other; a consequence of having landed seven crucial deals within a period of four months.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2013

An Initiative of IIPMMalay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned Links

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail

IIPM Links
IIPM : The B-School with a Human Face
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IIPM : The B-School with a Human Face
IIPM makes business education truly global
IIPM B-School Facebook Page
IIPM Global Exposure
Planman Technologies
IIPM B-School Detail
IIPM: Selection Process
IIPM: Research and Publications
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Methodology:
4Ps B&M, in association with the Indian Council for Market Research (ICMR), conducted a pan-India perception survey on the upcoming B-schools. The survey was conducted amongst management students (final year students; sample size of 200) and faculty members (sample size of 20) of several management institutes across the country. The respondents were asked to name one upcoming B-school based on the parameters of infrastructure, placement, packages and industry interface. The frequency of responses helped us to draw a list of the 50 upcoming B-schools in the country which could be the most sought after ones in the near future.
 
Rabindranath Tagore Memorial International Prize, Surama Chaudhuri Memorial International Award, Manavata Vikas Award... an array of prestigious prizes instituted by IIPM is set to alter the international awards landscape for good. Dr Malay Chaudhuri, Founder Director of IIPM, tells 4Ps B&M why the IIPM Awards are in a league of their own

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DR. MALAY CHAUDHURI
What is the rationale behind the IIPM Awards for excellence in the fields of literature, arts, journalism and social work?
These awards are a logical development for IIPM. In our very first prospectus – the year was 1973 – we spelt out that skill development would be a key element in our course content, but that it certainly would not be the only element. We stressed on two other dimensions – fostering a sense of commitment to society and active application of arts and literature to life. Commitment to society is essential in order to create economic parameters that favour the people at large. National economic planning should be a core pursuit. If planning is market-oriented, then it is skewed in favour of those who control resources. For us, management education has always had these three distinct dimensions. A sense of ethics should underline distribution. It is also imperative to develop appreciation of arts and literature. The IIPM Awards for excellence follow from our third commitment.

You have described the Rabindranath Tagore Memorial International Prize as a challenge to the Nobel Prize. In what sense is that the case?
This award has been instituted as a move to take away the West’s exclusive power to decide what is good in literature, art and peace efforts. The Nobel Prize for literature has not always gone to great writers. The Peace Prize has been, in recent times, given to people who have committed genocide. Therefore, the idea is to institute an award comparable with the Nobel as a public demonstration of our opposition to the Western monopoly on awards for excellence in various fields. I see a shift from the Atlantic to the Pacific. It is happening in economics and planning. Why shouldn’t it also happen in the domain of awards? Our effort is to push an initiative based on that superstructure. We want to decisively intervene in the process of deciding on awards. We want to demonstrate that we are equal players.

So far the focus of the IIPM Awards seems to have been on Bengali literature. Will you be looking at recognising other literatures in the coming years?
Our focus is on literature, not on literature in any particular language. It is only by accident that Bengali literature dominates. The presence of Rabindranath Tagore and the influence he had on numerous writers in Bengal led to an explosion of great literature. The literature produced in Bengali has been of a very high quality. The dominance of Bengali stems partly from our acquaintance with the language and partly from our perception that many Bengali writers are comparable with the best in the world. They should have won the Nobel Prize. They did not because the awards mechanism was loaded against writers like them.
 
So, will you be giving the IIPM Awards to writers in other languages as well in the years ahead?
Of course, we would, without any hesitation. We would be proud indeed to discover and honour exceptional literary talent in other languages. We would, of course, need help from friends and experts in identifying the best writers in these languages. Once we have the guidance we need and a proper assessment system is in place, you will see the IIPM Awards going to more and more non-Bengali litterateurs.

And will you honour international writers as well?
Don’t be surprised if next year we choose an American or European writer for the Tagore Award.

How are the award winners chosen?
We have a small committee. We are in constant touch with people who are well-read and are aware of literary developments. We seek their opinion. They give us guidance. I myself have been a voracious reader since childhood.

What is the logic behind the big prize money on offer with these awards?
The Nobel Prize for literature this year will fetch the winner 1.08 million euros. Last year, the amount was 1 million euros. We wanted to match that. Veteran Bengali writer Ramapada Chowdhury has won the first Rabindranath Tagore Memorial International Prize. The prize money is Rs.1 crore. This award will be handed over to the writer on May 9, 2011, Tagore’s 150th anniversary. To make a real impact, we wanted the prize money to be equivalent of the Nobel. A small amount would not have had the same effect. The Surama Chaudhuri Memorial International Award for Literature and Journalism is accompanied by an amount of $100,000. The first of this series of awards has been won by Afghan-origin writer Khaled Hosseini.

Are you satisfied with the general awareness about the IIPM Awards?
No, I am not. The importance of these awards has not been fully appreciated by the media. Either we do not have the kind of high quality media that we deserve or there is a deliberate conspiracy of silence. Take the case of the leading Bengali newspaper. The Surama Chaudhuri Memorial International Award, in monetary terms, is worth 80 times more than the annual award that this newspaper group gives but they do not want to share that information with their readers. They haven’t mentioned a word about Ramapada Chowdhury winning the Rabindranath Tagore Memorial International Prize although the publishing house owned by this media group has published most of the celebrated writer’s work. I can understand if they black out our awards. But why should they black out Ramapada Chowdhury? It is completely unacceptable.

There is obviously no award in India with this kind of prize money. How important is this for the profile of these awards?
Well, I do not believe that money alone can decide the worth of an award. An award acquires prestige if it is consistently given to deserving people. This prestige is built over time.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

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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