VOLUME 23 ISSUE 1
THE STRATEGY WALL SUPPLY CHAIN MANAGEMENT IN HEALTHCARE INDUSTRY PERFORMANCE APPRAISAL TO PERFORMANCE FEEDBACK DIGITAL OR NOT, OUTRAGEOUS MARKETING EXISTS!
THE STRATEGY AND CONSULTING CLUB OF IIM ROHTAK
“Perception is strong and sight weak. In strategy it is important to see distant things as if they were close and to take a distanced view of close things.� Miyamoto Musashi
Contents 01
SUPPLY CHAIN MANAGEMENT IN HEALTHCARE INDUSTRY
03
PERFORMANCE APPRAISAL TO PERFORMANCE FEEDBACK - SHIFTS IN THE PMS
05
DIGITAL OR NOT, OUTRAGEOUS MARKETING EXISTS!
07
BRANDS AND COLOURISIM - WAY FORWARD
10
ADVANCED METHODS IN MARKETING RESEARCH
12
THE WORLD POST COVID - 19
SUPPLY CHAIN MANAGEMENT IN HEALTHCARE INDUSTRY CHIRAG SHETTY, SBM NMIMS MUMBAI
Supply chain Management in Healthcare industry
Having
a
rigorous
supplier
onboarding
has been like a side hero who was never recognized
processes in place so as to assess potential
however good he acted, but the COVID-19 pandemic
vendors and mitigate risks involved.
has completely changed this scenario. While the
Real
world awaits the vaccine with bated breath what is
performance
more important to see is whether the current SCM
responsiveness of the supply chain.
can manage to deliver vaccines to all those who
Leveraging supplier data and gathering insights
need it as early as it can.
to uncover hidden possible supplier risks and
time
collaboration evaluations
capabilities to
fast
and track
make strategic decisions for the business Procurement and Strategic sourcing: Global uncertainty arising because of the pandemic
Sourcing and Procurement teams will continue to
has disrupted many supply chains, as suppliers,
play a vital role in steering their businesses through
customers and enterprises alike work to respond to
the new normal. With its focus on developing a
these
resilient and agile supply chain, Sourcing will be
unpredicted
business
disruptions.
Procurement leaders in Healthcare have quickly realized that in order to safeguard and sustain their
instrumental in: Recovering with Resilience
supply chains, they need visibility beyond their Tier
Sourcing teams across the globe are posed with a
One vendors. In wake of uncertain scenarios
new challenge due to unexpected disruptions and
prevailing in the world, ensuring a resilient supply
are being expected to respond with agility and
chain is now a major driver of strategic sourcing
flexibility. Teams with successful recovery strategies
initiatives, and Healthcare procurement leaders are
prioritized their organization’s resilience and ability
trying to strengthen their supplier partnerships by:
to adapt quickly to the changing world.
PAGE 1
Technologically streamlining processes like vendor
A pivotal role in standardization has been played by
onboarding and providing their teams with
Strategic
real-time collaboration capabilities, leading strategic
systematize
sourcing teams pivoted operations and continued
efficiencies
supporting the business remotely–without missing a
alignment of purchase decisions. In medical and
beat.
pharma sector acquiring inventory such as mobile
Procurement
teams
empowered
with
sourcing—where
health efforts
procurement through
better
systems to
unlock
governance
and
technology will have better visibility into their
medical
pipeline and will be better able to plan strategically.
equipments need to be maintained to gain value out
Leading with Empathy
equipment
is
just
one
phase,
these
of it over the years. This is the reason why it is
Going forward sourcing leaders across sector will
believed that hospitals benefit when they apply a
agree that empathy must be at the apex of
strategic
procurement strategy. It has become mandatory for
equipment purchase and servicing program.Inorder
leaders to prioritize human connection in their
to successfully activate that model for suitable
professional relationships by activities ranging from
financial gains, engaging a proven healthcare
empowering their teams with right technology and
technology management vendor is vital.
sourcing
model
to
their
healthcare
tools to creating partnership with suppliers. One way to do so is by increasing the collaborations. While
With impetus on rise in expected demand of
many may not be able to meet in a conference
healthcare
room,
capabilities
like
tea
chats
and
products
the
managers
must
look
video-
towards elevating strategic sourcing more than
conferencing have greatly enhanced productivity
ever. Also. with the global supply chain image
among remote teams. Procurement leaders around
changing because of the worlds outlook towards
the globe are working closely with suppliers to find
China its all the more necessary in the new normal
middle grounds with suppliers by finding solutions
to have multiple vendors and sources for each of the
that benefit all stakeholders like renegotiated
raw material with preferably more impetus on
minimums and accelerated payment conditions.
developing
Elevating Strategic Sourcing
multiple
local
vendors
to
ensure
business continues as normal in most uncertain of
Even in situations of uncertainty enterprises globally
scenarios as well.
have always relied on procurement teams to maintain business continuity. While sourcing leaders have always rose to challenges posed by the uncertain situations and played crucial roles in contingency planning and plotting ways and course for business continuity thus ensuring a stable future. Being
backed
by
modern
technological
developments, successful teams across sectors have found creative solutions to preserve cash, further build and strengthen supplier relationships and mitigate potential business risks. Sourcing teams generally have complete visibility and knowledge into their processes and pipeline plans, thus are better able to prioritize initiatives from the list and plan strategically in setting up the new normal for the business in near future.
PAGE 2
PERFORMANCE APPRAISAL TO PERFORMANCE FEEDBACK – SHIFTS IN THE PMS NIRALI DOSHI, IITM “Performance management isn’t dead. The old way of thinking about it is.” -Anita Bowness
What started with year-end performance appraisals
Many of the big names in the corporate world –
on paper, moved on to become automated, more
Microsoft,
frequent, and more inclined towards numbers.
Accenture, HCL, KPMG, IBM, Infosys, TCS, Wipro,
Somewhere between the bell curve, balanced
Cisco, Goldman Sachs, SAP - have started moving
scorecards, and 360-degree feedback, the true
away from forced rankings or performance ratings.
purpose of performance management was lost.
Research conducted by Bersin suggests that almost
What
70%
was
meant
as
a
medium
to
facilitate
of
Deloitte,
the
Adobe,
companies
are
General
Electric,
re-evaluating
the
development of employees turned into a tool to
performance management approach used by them.
justify promotions or pay raise.
The main reason for this is that the rating system places
heavy
importance
on
rewards
and
By 2006, debates started to stir up about the
punishments of financial nature. Another reason is
efficiency of the performance management systems
that the employees are held accountable for
and how it can be changed. The trend moved from
behaviors or actions of the past. This hinders
performance
improving current performance and development.
appraisals
to
integrating
talent
management with performance management, to engaging the employees and has finally come to
A change in performance appraisal is needed for
empowering the employees. While there is no
various reasons. The nature of work is changing. The
consensus on the type of system that is to be
issue with using numerical forms of performance
followed, companies are now trying to frame the
appraisal is that it will not show how work gets done
system as per the organization’s requirements. This
in organizations today because of the continuous
change is seen in the form of real-time feedback or
change in the nature of work. Organizations no
regular feedback.
longer prefer goals set on a yearly basis.
PAGE 3
How much of an impact can the performance
With a limitation of facilities and social connections
management
the
available at home, there is a need for clear and pro-
organization? Effective performance appraisals can
active communication, which is often not set in
benefit the organization in many ways such as lower
place. Flexibility at the company level is the most
rate
of
system
turnover,
actually
on
the
employees,
essential skill required today. More often than not,
the
employees’
employees working remotely are working beyond
strengths and weaknesses, providing a basis for
their 9 to 5 shift. The focus for performance
training and development, increasing productivity,
management systems needs to then move away
reducing
from these numbers towards looking into quality
providing
motivating
have
information
role
about
ambiguity
in
employees,
and
validation for promotions, hires, and terminations.
work through providing regular feedback. This can facilitate the organization to stay ahead of the curve
What if performance appraisals set up at the
as well as show the employees that they are cared
organization
for.
were
ineffective?
Ineffective
performance appraisals can also have a negative
With
more
satisfaction
comes
higher
productivity.
impact on employee productivity. When a positive and significant effect exists between performance appraisal
and
productivity,
ensuring
that
the
performance appraisal system is effective will lead to higher levels of profit for the organization. Researches by Onyije and Pettijohn suggest that there
is
a
correlation
between
performance
appraisal and employee productivity. Kopelman, through nine studies concluded that feedback has a positive effect on employee productivity. When a theoretical understanding of performance feedback, especially positive feedback, is implemented along with a collaborative environment, it results in an increase
in
employee
productivity.
Employees
themselves agree that providing regular feedback will prove to give the organization a competitive advantage. The increasing number of employees working from home
has
performance
only
raised
more
management
concerns systems.
about More
companies such as Infosys, HCL Tech, and TCS announcing
that
a
greater
segment
of
their
workforce will continue to work remotely even after the situation stabilizes. With this shift, there is an inevitable need for change in the performance management system.
PAGE 4
DIGITAL OR NOT, OUTRAGEOUS MARKETING EXISTS! SHRUTI S. CHOUGULE, SAVITRIBAI PHULE PUNE UNIVERSITY
Technological
advancement
has
influenced
A
perfect
example
will
be
the
1920’s
Jello
evolution of traditional print media advertising
Advertisement to be America’s most favourite
towards digital advertising but one thing has not
dessert by depicting a little black kid serving Jello to
changed so far that customers’ “emotions” is still
a White madame.
central focus of any marketing and promotional strategy. Over the years, marketers have realized that adapting to customers reality should be the prime objective for successful promotional campaign. Satisfaction of emotional and social needs is being targeted so that people will buy product for Psychic satisfaction, more than they buy for any other reason. Over the years, marketers are pouring thought on, what is the most important emotion that people feel when they come across an advertisement? But outrageousness is the answer that they are seeking. Marketers have an eye for sensitive content; Be it racism, gender inequality, cultural
differences,
religious
attachments
or
modern era’s issues like casteism, feminism (names have become fancy, issue is still same!), etc. Sometimes we, as marketers, go beyond our limit of decency, emotional or social boundaries in an attempt to create attention-seeking advertisements.
Fig 1- Jello Advertisement that encouraged Racism and Slavery Source-Businessinsider.com/20-ads-that-changed-how-we-think-about-race-inamerica-2013-2?IR=T
PAGE 5
Another advertisement like this was 1957’s Van Heusen advertisement. It showed a woman dressed in robe, accessorized with perfect hair and make-up kneeled
and
serving
breakfast
to
“seemingly
sophisticated” man. The company had aim of satisfying male ego by quoting, “Show her it’s a Man’s world”.
Fig 3- Nivea advertisement Source-Thedrum.com/news/2017/04/04/nivea-perspires-after-white-purity-adsembolden-white-supremacists
These were only the few among thousands of advertisements with offensive content. As long as there exist emotions, there will be selling of values in order to increase product appeal. Being Marketing professionals and face of organization, we should realize that responsibility lies in our hand. We are well aware of the fact that advertisements, till some extent, influence peoples’ mentality. Therefore, there should be all-inclusive, open-minded and nonoffensive approach while targeting emotional need of potential customer. After all, we are in a profession that delivers value to customers (not offence) for personal and organizational benefits.
Fig 2- Van Heusen Advertisement that encouraged Gender inequality Source-lalaini.blogspot.com/2013/09/13-incredibly-sexist-ads-from-50s.html
Simpler and direct the appeal, better will be the results. In this way, marketers focus on one single message (whether positive and negative) that they strive to convey to their potential customers in every possible way. Recent advertisement by Nivea gained popularity due to massive outrage it has caused. The company had quoted, “White is purity” which enraged people because of the racist remark.
PAGE 6
BRANDS AND COLOURISM – WAY FORWARD P.PRUDVI TEJA, SIBM BANGALORE
As I was strolling down the departmental store, I
While a few advertisements portray babies, who are
came across an aisle filled with baby diapers from
wheatish, they can easily be misled as being white.
various brands, all wrapped in beautiful and
This dichotomy of the brands’ perception of what
appealing
something
the Indian babies look like and the actual truth is
peculiar with almost every brand’s package – The
ironic as they invest a substantial amount in their
baby on the package was white skinned. While the
research and surely, they must know the country’s
majority of the Indian babies are brown skinned and
tropical climate and the level of melanin that’s
the products are sold to the parents of the babies
produced in the entire populace.
package.
But
there
was
who are also brown skinned, then why are the brands like Pampers, Huggies, MamyPoko still using
This
the babies that have a glowing white skin?
preferential treatment to people of the same race
phenomenon
of
showing
prejudicial
or
Figure 1 - Google Search Results of Pampers Brand Diapers in India Source: Google
PAGE 7
While a few advertisements portray babies, who are wheatish, they can easily be misled as being white. This dichotomy of the brands’ perception of what the Indian babies look like and the actual truth is ironic as they invest a substantial amount in their research and surely, they must know the country’s tropical climate and the level of melanin that’s produced in the entire populace. This
phenomenon
of
showing
prejudicial
or
Figure 2 - Apple's Website Showcasing its Inclusivity Source: Apple.com
preferential treatment to people of the same race based on the colour of the skin is called colourism.
Apple as a brand is well known for its inclusivity as
It’s different from racism as the latter discriminates
it includes people from various ethnicity, skin colour
people from different races.
and lifestyles in their campaigns. It has used the inclusivity and diversity to its advantage by not just
Colourism has been deeply rooted in the mindset of
attracting a wide customer base but also has
Indians since colonial times and have a deep-seated
developed a brand image of being socially and
inferior complex to such an extent that the flagship
ethically
product of Hindustan Unilever Limited (HUL), Glow
discriminate anyone. A quick look at its website
& Lovely formerly known as Fair & Lovely earned a
gives us an idea about its principles.
responsible,
a
brand
that
doesn’t
revenue of $500 million dollars in India. The brand created different campaigns around the idea that dark-skinned people did not have a chance at acing the
exams,
interviews,
marriage
and
other
endeavors. It’s only when they are fair skinned will their talents be recognized and they will be successful. Although they changed their name, their campaign revolved around the same idea and this is when they
Figure 3 - Apple WWDC20 Promotional poster Source: Developer.apple.com
faced a backlash from the society for doing too little, too late! But the efforts by HUL shows they took
Apple
not
only
showcases
diversity
in
their
cognizance of the damage and apart from that,
advertisements and banners but also practices it
HUL’s move also sparked the much-needed skin-
and tacitly portrays it during their several product
tone bias debate in India and across the world. This
launches and also during their annual conference
is the strength which a brand possesses.
Worldwide Developers Conference (WWDC). We can see this inclusivity in the different product features
When a particular brand is insensitive towards the
explained by different heads who lead a lifestyle
people they cast in their advertisements or as their
which is unique. Adding racially diverse emoticons
models to represent their brands, it takes a heavy
was an initiative which the company took a few
toll on the customer’s perception. The consumer
years back and now it’s been lauded by everyone.
might feel ignored. The Horowitz research in the US
WWDC20 saw a unique poster with emojis of
shows
feel
different racial backgrounds, which was a breath of
comfortable and happy when they see a dark-
fresh air. This puts Apple at the forefront of fighting
skinned person in a brand’s Ad campaign. Inclusivity
against the colourism bias and has become an
is vital!
inspiration to everyone.
that
people
with
dark-skinned
PAGE 8
A few Indian ecommerce websites hire almost 50% of the models who are Caucasian. While the industry experts argue it has nothing to do with the skin colour, the experience says otherwise. But the brands and the industry as a whole is fighting against this bias, and each day the brands are hiring the models who are dark-skinned.
Figure 4 - Nike's Brand Ambassadors Source: www.campaignlive.co.uk
Nike is one such brand which has broken down all the barriers by choosing the brand’s ambassadors to models who are African-American and proudly portrays the champions in their respective fields. It recently broke the sales record because of its investment in the digital campaigns and platforms that showcases their products with the brand ambassadors wearing them. It’s a testament to the naysayers and promotors of the colourism that any brand that moves above and beyond the existing barriers and breaks the stereotypes will not just gain newer customers but also become a role model to the upcoming and existing brands.
PAGE 9
ADVANCED METHODS IN MARKETING RESEARCH PRIYADHARSHINI RAVISANKAR, VELALAR COLLEGE OF ENGINEERING AND TECHNOLOGY (VCET), ERODE
The future of market research would be based on
total market revenue of about 822 billion dollars.
artificial intelligence or a combination of artificial
Double down Inc., a service organization with net
intelligence with certain advanced technologies
revenue of 18.0 million dollars. The use of artificial
such as blockchain, augmented reality, etc., . This
intelligence in the digital market is way higher.
article would provide an insight into these aspects.
Quality of the content being published is a key
These technologies have been adopted by certain
aspect but maintaining the quality in accordance
companies like IBM, Google’s natural processing
with the user will be a game-changing aspect.
language etc. Artificial intelligence is structured in a
Artificial intelligence has a significant contribution in
way that it guides the company in a smart way to do
this
market research about their development, customer
prominent area where artificial intelligence has its
needs.
the
role certain examples are Microsoft Power BI, which
marketing strategies used during marketing this
is specially designed for users who don’t have much
product. The artificial intelligence used in mobile
knowledge about big data. The only case is the
marketing is the key player in today’s marketing
accuracy in entry based on past behavior which is
strategy. The mobile artificial intelligence market is
based on the statistical modeling done. The usage of
expected to grow by 17.83 billion dollars by 2023.
artificial intelligence in digital marketing could
There are various companies that have incorporated
leverage the ROI of any company that aims to curate
artificial intelligence in Amplero. In the case of
the ICP more accurately.
Artificial
intelligence
would
adopt
domain.
Predictive
analysis
is
the
most
amplero the companies incorporated with amplero resulted in increased revenue of about nine times
Integrated
per year and in certain cases of about 21 percent.
mended approach of various aspects such as
One such company implemented with amplero
advertising sales promotion, public relations, etc. It is
artificial intelligence marketing is Ooredoo, which is
designed in a way to channelize the strategies based
a community-based organization in Qatar, with a
on the entire collected data.
marketing
communication
is
the
PAGE 10
There are many companies that have successfully
gain something better by providing information. In
implemented
addressing the poor quality in marketing research
integrated
marketing
communications one such case is coco cola. The
blockchain
company had its promotion based on two primary
According to the smart contract, the payment is
strategies which were food and retail services. The
disbursed only when the smart contract selects the
efforts towards retail services aimed at the point of
agreement mentioned prior has been accepted,
sales technique (POS). The point of sales implies the
thereby improving the market research quality with
coolers for the sales related in stores and carriage
accurate data.
would
incorporate
smart
contracts.
vending machines. Food services imply the supply of coco cola paired with other foods that is the
Thus
optimization of the menu. The integrated market
intelligence will bring an obvious impact for
communication undertaken by coca-cola increased
business
the desire of the consumers to drink coca-cola. The
intelligence
IMC was implemented through web sites as sales
definitely create a great impact on market research.
promotion. As a result of IMC implementation, the
Combining
profit margin rose by 15.43 percentage which
intelligence would also be groundbreaking for
promoted it as the fourth most valuable product
effective
brand of the world in the year 2015.
effective marketing strategy and research with
combining pioneer. and
the
blockchain
The AI
market
promotion
used
augmented
and of
artificial
technologies
reality
research.
artificial
Thus
with
would artificial
providing
an
advanced technologies. Augmented reality is one of the latest trends in the strategy which could bolster the customers in a different way. It enables providing the customer a deep insight into the product even before the consumer could actually buy the product.
An
example of one such implementation is the sub hub enabling the users to view the 3 dimensional display of the location where the game is held that is the super bowl. Starbucks made it possible for the customers to look at the coffee shops. Such augmented reality enabled the market to reach a great level among customers. The implementation of virtual elements would encourage the customers thereby drawing more customers into the field. Blockchains advanced
could way
of
also
be
considered
marketing
that
as
an
could
be
implemented by companies. It is a system enabling the transaction of information in digital form. This blockchain has been implemented in the market research industry. Blockchain could address the issue
of
participation
rate
by
incorporating
blockchain tokens which symbolizes consumer data as assets. This provides a means for sharing information in exchange for tokens thus providing insight as per
PAGE 11
THE WORLD POST COVID-19 PRAGYA SHAKLYA, SIIB
COVID-19 has unbridled an unprecedented human
People must have realized the value and essence of
development crisis. Policies are currently being
every work. They will start appreciating the small
designed to face the crisis and massive additional
things in life and might get off from the materialistic
financial
The
vicious cycle of Maya. This will be the new
pandemic has hit the world with unresolved
normalized post Covid-19. The following changes
tensions and post Covid-19 world is still a dream for
may remain for some time. People will be more self-
many countries. When will be able to live the post-
aware, skeptical about meeting and contacting
time is still a big question in everyone’s mind.
people
However, in the endeavor of confronting its multiple
gymnasium, theatre, malls, sports hub and hotels
implications,
to
will take care of hygiene and cleanliness. Low-
reimagine what is possible and desirable for the
contact protocols will be taken for the safety of every
future.
individual. The economy will slowly start to recover,
resources
there
are
is
being
also
an
mobilized.
opportunity
and
health
conscious.
Restaurants,
reshuffling of ideas and shifting to new projects is It offers decision-makers a comprehensive picture of
expected and unemployment might decrease. Yet
expected long-term changes, and inspiration to
the norms of socializing and wearing masks will still
leverage the opportunities this crisis offers to
remain mandatory.
improve the state of the world. From handshake to namaste, hugging to social distancing and social
The digital world will go tremendously over the
gathering to sitting at home, everything has come
world. The multinational company might shift some
back to basics. The ongoing pandemic has the
employees permanently to work from home as its
potential to weaken the foundation and the very
convenient, flexible and cost cutting. Students
fabric of our civilization. This may alter not only the
might also shift to digital platforms for their online
way we live and work but also deeply impact our
classes, tests and assignments. Restoring social
interpersonal relationships, our core values and the
spaces as soon as it’s safe to do so is more than just a
nature of state and governance.
financial priority.
PAGE 12
Psychologically,
initially
it
might
paralyze
the
humans and will be daunting threat to opportunity to rethink how we get together. They will be scared and grappling with a multitude of mental issues such as depression and anxiety. But later, the people will accept, get through and start living with it. Lord Brahma is believed to have four faces in Indian Mythology. These symbolizes formation, security and development in all the four directions. We can interpret them as empathy, humanitarian gratitude, duty in charge and universe of tolerance. There is no substitute to a shared future of humankind. How we shape it, is up to us.
PAGE 13
THE STRATEGY AND CONSULTING CLUB OF IIM ROHTAK snc@iimrohtak.ac.in AKANKSHA LAWHALE AMRISH RAI MEDHA WAGH SAURABH AZGAONKAR TANVI RANE TEJASWI NETTAM VARIS KUMAR KALIA ANKIT PALIWAL GARGI GARIMA KUMARI KRITI SETHI MADHU PRIYA MACHADI PARNIKA SHARMA POOJA CHAUDHARY RASTRA KUNWAR MAURYA RUDRAJIT BANERJEE FOLLOW US ON: DISCLAIMER: THE VIEWS AND OPINIONS EXPRESSED IN THIS MAGAZINE ARE THOSE OF THE AUTHOR AND DO NOT NECESSARILY REFLECT THE OPINION OF THE STAKE HOLDERS OF IIM ROHTAK