Vol 1 Issue 6 July 2011
Only money has real value
50 `
Only values really matter
Battle for Business Ethics
Team
At Pen Point
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Business Management Group CEO Kalyan Kumar G. Deputy Editor Catherine Gilon Design Art Director Lakshmikanthan Designer Matha-ul-Ameen Circulation Senior Manager Karthick G.Kesavan. +91 98848 76175 Advertisement Media Sales Manager - Chennai Suresh Kumar G. +91 93817 91788 Yuvarani Peter +91 98403 17477 Support Media Coordinator Mubarac Nisha Board of Advisors G Vamshidhar Kaushik Tiwari Tatwamasi Dixit A.R. Santhanakrishnan Madhav Das N. Srikrishna Anusha Kannan Dinesh Kumar Agarwal R. Vinod Madhavan Kutty M.S. Raghava Rao
........................................ For feedback and contributions, kindly email us at editorial@theenterprisemagazine.com
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Dear friend, A quick reading of the headlines on the newspapers will show you hordes of scams, frauds and chaos everywhere. Right from ministers, bureaucrats, corporate biggies, we keep hearing about corruption. It gives us a sense of despair about the shameful culture we are leaving behind to our next generation. In fact, if top management / owners are caught bribing, you can understand the employees’ response to it. You can’t expect your employees to be clean and ethical if you are not practicing the same. Ask your neighbor if it is possible to run any business in India without bribing, the answer would be negative. Surprisingly, we were able to present a case of a corporate who has a clean track record of corruption-free business practice and is successful in creating an INR. 75 plus crore turnover business. Yes, it is possible. And the answer yet again is perseverance and willingness to work ethically. This edition, we are presenting to you corporate ethics and the challenges of managing frauds in business. This edition is packed with challenges of building an ethical corporate culture, decoding the fraud scenarios and ways to manage them, continuous battles for privacy online, taking on corporate discrimination and how corporate use ‘going green’ tags to woo the customers without serious intent. In fact, this is a clean-up edition. I can say, prevention is always better than cure. The best way to do this is through building transparency, ethical culture, governance system and openness in business. The implementation of ethical value system starts with the tone at the top, stringent recruitment and screening procedures apart from preventive systems and internal controls. It would be of great satisfaction to me if it ignites any of our readers to start building preventive systems in their organisations / departments / work areas. We also have success stories of trendsetting entrepreneurs and innovative business models apart from advisory on leadership written by corporate honchos and leadership gurus. This is power packed to provoke thought. And act, you shall!
Head Office 10/3 A- Nandanam Extension | 5th Street, Nandanam | Chennai - 600035, Tamil Nadu, India. Ph: (+91) 44 4320 1140 | F: (+91) 44 4359 6379 Printing: Digitall Services 2, P V Koil street, Royapettah, Chennai -600 014. Ph: (+91 98842 67380 Publishing: Brisk Corporate Services Pte. Ltd., 10/3 A- Nandanam Extension 5th Street, Nandanam Chennai - 600035, Tamil Nadu, India. Ph: (+91) 44 4320 1140 | F: (+91) 44 4359 6379
Kalyan Kumar Editor-in-Chief
Inside-Out
20
ENLIGHTEN 06 India at a glance 08 Start Ups & Ventures - Catching them young 10 Best Practices - Experience change 12 Leadership - Beauty in a box 16 Leadership - Are you a leader?
Strategies 18 Growth and expansion - Crafting success 20 Finance - Hassle - free loans 22 Customer service - Understanding customer service metrics 26 Technology - I know what you did this summer 28 HR - I shall give no bribe
EXCLUSIVE 32 Building ethics 34 Uncovering fraud 40 Taking on discrimination 42 The green washers 44 Patent infringement
42
ENTERTAIN 56
46 Jewel of the desert 48 Brand basics 50 Corporate cuisine
ENVISION 52 Astrology
EVOLVE 56 Business Essentials 28
58 French in - fluence
ENGAGE 60 Office humour 62 Corporate diary 64 Crib corner 65 Real estate 68 Your next step 70 60 seconds 72 Brand ish 74 IronE
40
NLIGHTEN
INDIA AT A GLANCE Trends in GDP Growth Compared to previous Quarter Quarter Q1 FY 2012 (June 2011) Q4 FY 2011 (March 2010)
Growth 7.8 8.6
Trends
Feb-11
Jan-11
Trends
4.02 6.00 10.30
4.00 6.50 10.00
Agriculture Industry Services
Currency Pair USD to INR EUR to INR GBP to INR CNY to INR JPY to INR
Trends
7.8 8.4
Trends in GDP Growth Compared to Previous Year Quarter Q1 FY 2012 (June 2011) Q1 FY 2011 (June 2010) Sectors
Growth
Month Open Month Close 44.10 45.09 65.28 64.40 73.65 74.27 6.79 6.94 0.54 0.56
Trend 2.20% -1.36% 0.83% 2.17% 2.65%
Period Average Period High Period Low Period Variance 44.88 45.36 44.10 11% 64.36 66.56 63.07 90% 73.41 74.34 72.37 34% 6.90 6.98 6.78 0.25% 0.55 0.56 0.54 0.0020%
Ination Rate in % 18.0 16.0 14.0
16.2 14.9 14.9 13.3
13.9 13.7
12.0 10.0 8.0 6.0 4.0 2.0 0.0
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The Business Enterprise | July 2011
11.3 9.9 9.8 9.7 8.3
9.5 9.3 9.4 8.8 8.5
www.beeconadvisors.com
Close (May 30st 2011) 18,503.28 5560.15
• ERP Implementation • Incubation
• Transformation
30-May-11
28-May-11
26-May-11
24-May-11
22-May-11
% Change -14.7% -14.1% -11.5% -10.6% -10.0%
20-May-11
Nifty Loosers Scrip Name State Bank of India Reliance Infrastructure Ltd. Steel Authority of India Ltd. Tata Motors Ltd. Reliance Capital Ltd.
18-May-11
% Change 20.4% 9.8% 8.4% 6.9% 5.6%
19500 19000 18500 18000 17500 17000
16-May-11
Nifty Gainers Scrip Name Ranbaxy Laboratories Ltd. Hero Honda Motors Ltd. Hindustan Unilever Ltd. Kotak Mahindra Bank Ltd. DLF Ltd.
Sensex
14-May-11
% Change -14.6% -13.9% -11.1% -9.8% -9.3%
12-May-11
Sensex Loosers Scrip Name State Bank of India Reliance Infrastructure Ltd. Tata Motors Ltd. Reliance Communications Limited Mahindra & Mahindra Ltd.
10-May-11
% Change 9.5% 8.4% 5.3% 4.3% 3.6%
Trends
8-May-11
Sensex Gainers Scrip Name Hero Honda Motors Ltd. Hindustan Unilever Ltd. DLF Ltd. HDFC Bank Ltd. Cipla Ltd.
“What you are, to what you want.”
Absolute Inflation Rate across Key Sectors Sectors Apr'11 Mar '11 Manufactured Products 6.18 6.50 Primary Food Articles 8.71 9.47 Fuel 12.05 12.96
6-May-11
Open (May 1st 2011) 18,998.02 5701.30
Previous 8.50 - 9.50 7.25 6.25 6.00
4-May-11
Indices Sensex Nifty
Current 9.25 - 10.00 7.50 6.50 6.00
2-May-11
Key Rates Base Rate* Repo Rate** Reverse Repo** Bank Rate***
July 2011 | The Business Enterprise 7
NLIGHTEN
Catching them young A
nais Nin, a famous French author, once said, “My ideas usually come not at my desk writing but in the midst of living.” Quite agreeably, ideas and innovations do strike us in the strangest of ways. It was a similar circumstance that Karthikeyan Vijaykumar, the founder of Twenty19.com, came across. “A couple of years ago, when we were conducting market research for renewable energy and semiconductor companies, many students came to us for internships. Over
the course of time, we realised that a lot of students didn’t have a platform to apply for internships. Moreover, companies too had no proper channel to choose interns from. That’s when we thought of creating a website to deal with this.” The idea began to convert to reality when Karthikeyan and his team took the initiative to meet, interact and share the idea of an internship portal with a cross section of students in Engineering and Arts colleges in Chennai. After what seemed like many cups of coffee, many more suggestions and a whole lot of brainstorming, they decided to launch the official website. In March 2010, Karthikeyan, along with his friend, Rahul Prabhakar, started twenty19. com. Twenty19.com is a student internship portal that aims to present college students across India, an array of opportunities such as internships, training courses, and information on regional and national conferences, events and scholarships of their interest. Distinctive as the name sounds, Karthikeyan states that the title predominantly caters to the age group they address, that is, students in the late teens and early 20s. Moreover, it is a take on Twenty20, a name that is easy to recollect, he quips. At the core, twenty19 aims to make a difference to the college students by providing them an abundance of relevant practical and real-life
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learning opportunities. The site provides the right platform for students to take initiatives to meet and network with industry officials and develop professional work experience in their area of interest. Like every other startup, their execution plans have changed and evolved time and again, though, their focus on the customers, that is, the students, companies and colleges has remained the same. At every step, they have taken every opportunity to interact with the companies and students to design their systems and make the website more compatible, userfriendly and interactive. One such instance, which led to the introduction of a new tool, Opportunities, was when students constantly contacted the twenty19 team to check on forthcoming openings in jobs, internships and training workshops available and company representative details. Another instance was when they noticed that the students had to go through a complicated registration procedure to receive regular mailers on opportunities. As a result of active user feedback, the team realised the need to develop simpler and userfriendly tools to simplify the process. As part of Twenty19’s student education and learning efforts, the team also conducts seminars and workshops at colleges on topics that pertain to improving student awareness on career and learning opportunities and skill development. In the last six months, the team has conducted over 100 workshops across various colleges across the city, the latest being, the workshop on entrepreneurship options for students at SASTRA University in Thanjavur. Some of the latest additions to the website have been interviews with HR heads and experts from diverse backgrounds like cloud computing and software technologies to photography and social service. These experts share valuable information on their industry, career options, market insights and a lot more. One other feature to look out for in this website is the ‘Student Rockstars’ page. It is exclusively dedicated to highlight the outstanding initiatives carried out by the students outside of their curriculum. This column not only aims to encourage the young achievers to pursue their dreams but also to spread the message among the other students to look beyond just academic pursuits.
On how they approached the companies, Karthikeyan explains that the team, during the initial stages, went to startup conferences and startup groups like Chennai Open Coffee Club, National Entrepreneurship Network conferences and Startups Saturday. Having found the initiative to be very useful, the other companies that were a part of the conference began to spread the word about twenty19. It was during one such conference that Silver Stripe Software, an India-based agile project management software firm, approached the twenty19 team. Silver Stripe was on the lookout for interns in the software development segment. After a round of meetings with the team, the company had posted its requirements on the twenty19 portal. What would otherwise have been a time-consuming task proved to be much simpler and compatible with this partnership. The company found the right requirement and took in an intern from PSG College of Technology, Coimbatore. “Twenty19 helped us gain the right visibility among the student communities. The quality of response we received helped us filter our options and choose the right intern for the job,” says Siddhartha Govindaraj, CEO of Silver Stripe Software. Gradually, the website’s clientele began to rise consistently. “Most companies tell us that the quality of students they find on Twenty19 is quite good. We made the effort to connect with the early company users. They constantly shared their ideas and helped us build tools that are currently on the website” says Karthikeyan. In the past few months, over 46,000 students have been shortlisted for internships through twenty19.com. Over Rs. 3 crore worth of total stipend has been offered to students since March 2010 and over 1300+ companies have begun to use twenty19.com as a platform to reach out to students for providing internships and fresher jobs.
Twenty19.com is an effort to bridge the growing gap between the current education system and the industry requirements through mutually beneficial internship programmes.
Focusing on the convergence of students’ need for learning and the companies need for recruiting quality talent, this website is all set to create a new revolution in the field of education. Improving student awareness about the industry is a top priority at Twenty19. Madhumita Prabhakar July 2011 | The Business Enterprise 9
NLIGHTEN
Experience change Mahijeet Mishra, MD, Armstrong International walks the talk on what it takes to bring in an open culture in a company.
The open premises of Armstrong International
T
he minute we enter Armstong International premises, we know this company is going to be a story worth sharing with you. The receptionist who is called the CEO of first impressions welcomes us with a warm smile and a box of chocolates. We walk into the board room and find a stash of five hundred rupees left in an open jar. Mr. Mishra smiles at our surprised faces and explains, “As you may have noticed, ours is a factory without gates. From the shop floor to the stores department, nothing is kept under lock and key. This is because we see no difference between your personal life and work.” He adds, “At home, the daughter/son knows where the father keeps his wallet and this is because there is mutual love and trust. Similarly, our moms work with utmost passion without being told about six sigma practices. Why should we be any different between 9-6?” Armstrong has made it a point align work and life as close as possible.
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Banning isms “In India, we have many divisions based on casteism, religions, regionalism etc. Here at Amstrong, we make sure there are no isms top-down. Everyone from the security guard to auditor is treated equally. And everyone is personally interviewed by me at some stage. Because I believe any product/ process/ system can be copied but it is the people who will make a difference to a company. Every evening, I see security guards in different premises frisking their employees, what signal are they sending to their employees? ‘ I trust the security guard more than you’ and as a employee of such a company, why would they produce 100 %? It is when I don’t trust that I sow the seeds of union. Here, we treat them as a family. For example, I saw the women who water our plants suffering under the scorching sun, we immediately got them cricket hats. When you feel for your employees and take care of their basic needs, they will never demand more. “
Storytelling strategy We see a couple of books authored by Mr. David Armstrong, CEO, Armstrong group of companies lying around and he is fondly remembered as the Story-telling CEO. Mr. Mishra explains why: “Do you know that we don’t have any huge book of policies, instead all our morales are communicated through story-telling. Our late CEO believed in the power of communicating through stories. It is pretty simple, when you get a mail that has some ten pointers on what’s good, you read and delete but when you read a story elucidating the same, it is embedded in your memory forever. Here in India, my team writes different stories from their day-to-day experience and share it with us. Recently, there was this story on Raju’s honesty and how it saved 50% cost to the company. We publish such stories in our notice board for others to follow suit.”
Surprise works for us Mr. Mishra queries us, “Do you like surprises?” as we smile he adds, “Who doesn’t? One of our other core strategies is to bring in surprise to our clients and employees. I will share with you a story on this. We have our energy auditor
Mahijeet Mishra, MD, Armstrong International
Shiva who is a bike enthusiast. We had an audit scheduled in Calcutta, he lost his face when I told him so. Apparently, he had planned a bike rally on the same date. I queried him on where he was planning to hit and luckily, it was to Kolkatta. So, I told him to take part in his bike rally while we postponed the client meet by a day. He went happily on his road trip with our costly equipment packed tight behind. I knew he would deliver well, which he did and got us an additional deal.” He continues, “Here at Armstong, we make it a policy to work towards bringing such smiles.” Choosing the right team With such an easy-going environment, not many can adapt to such freedom. Mr. Mishra tells us how he recruits his talent, “I spend close to two to three hours on an interview. I do not care about what the resume says, I just look at understanding the person. I look for people who can handle responsibility and do things without being told or monitored. One of our guys had applied for sales but he was interested in a technical job. We gave him what he wanted and sent him out an international audit just 15 days after he joined. He turned out to be one of our most successful auditors. Our trust in employees has never failed us till date. We just get the right person for the right job and then make sure he tunes in to the organisation. I meet new joinees every fortnight to help them open up.”
Learning from mistakes “Also, we tell them there is no penalty for mistakes but for hiding the same, you will be penalized. So, even new joinees share every blunder with me. It is a learning experience
for all. I do not look for extraordinary talent but just for men who work towards getting a solution. “ He tells us another amazing anecdote, “One of our new joiners Rajkumar did not have work for few days, so I asked what his passion was. He said painting and there, he was left to paint in a canvas for a week till he got his project.” He asks us, “Do you not feel happy when you give/work for your loved ones, why do you have to change when you are at work? Why do people think they’ll be happy when they demand more and more from the company? Isn’t giving without expecting that makes us truly happy. It stands true for both the employer and the employee.”
Going that extra step “When it comes to dealing with customers, we believe honesty is the only policy. There have been cases where we had called our customer and given additional maintenance for service terms that have been extended without their knowledge. We as a company strive to go that extra mile to bring a genuine smile.” Concludes Mr. Mishra with a warm smile. And from what we have heard of them, theirs is a genuinely honest venture that brings thousands of smiles across the globe.
Armstrong International has solved virtually every imaginable problem in steam, humidification, compressed air, hot water, severe service industrial valves, heat transfer and electronic contract manufacturing services. They are truly a diversified enterprise. July 2011 | The Business Enterprise 1 1
NLIGHTEN
Shanaz Husain, the herbal beauty expert, tells us the story of how she branded the goodness of Ayurveda in a jar.
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Beauty in a box Unearthing the herbal beauty mine
The Indian herbal beauty market, as we know it today, did not exist when I started my career. In fact, I pioneered herbal beauty care. It was during my training in London that I came across the damage caused by chemical treatments. I was determined to find a natural alternative that was safe and without risks. My study of Ayurveda convinced me that it could offer the ideal answers to beauty care. I came back to India and started my first herbal salon in the verandah of my home in New Delhi, in 1971, in a very small way. I adopted the principle of ‘natural care and cure’ and offered customised beauty care, with a personalised style, based on individual needs. I rejected the existing treatments and devised my own. These have become breakthroughs in Ayurvedic beauty care. I also started formulating my own products, using plant ingredients and natural substances. Today, we have become known, not only for our treatments for general beauty care but also for our herbal treatments for specific skin and hair problems. We manufacture over 350 products for beauty and health care.
July 2011 | The Business Enterprise 1 3
NLIGHTEN The initial hiccups Having adopted a totally new concept of herbal care and cures, my efforts had to be geared towards increasing awareness of the healing powers of herbs and the dangers of chemical and synthetic ingredients. We did this by contributing articles in leading newspapers and magazines. In the initial days of my career, I also made it a point to reply personally to letters seeking solutions for skin and hair problems. Four decades later, we still maintain this practice, this personal touch. In my regular columns, I provide home remedies as solutions for beauty problems. In the minds of the readers, this reinforces my philosophy that ‘nature is the best cosmetologist’. Our philosophy and faith in nature have not only influenced markets and minds, but have become an integral part of the brand image. Initially, I had to overcome social and economic hurdles. It was a time when women were just stepping out of their homes into the career world. It was my family’s support and understanding that helped me overcome barriers and realise my dreams. I also adopted some unique strategies to extend my business.
The ‘me’ factor Even at a time when the demand for the product is sustained through commercial advertising, we never relied on it. Instead, we relied on ‘word of mouth’ and the fact that a satisfied client was the best advertisement. The idea was to make the beauty-care experience a truly personalised one, at the client card level, with prescriptives and follow-up. All efforts were made to make the relationship with the client a lasting one. Wr believe that success depends on a personal interaction, client satisfaction and catering to specific client demands. That is how the Shahnaz Herbal treatments grew. In fact, the products have grown out of clinical usage, based on massive client feedback.
Opening up India to the world Entering the international market was the biggest challenge. But, financial constraints and closed doors did not deter me. Armed with only my complete faith in the concept of herbal beauty care, we entered the highly competitive international markets, without commercial advertising or fancy packaging. We participated in the
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Festival of India in London in 1980 and was given a counter in the Perfumery Section at Selfridges. In the face of fierce competition, I stuck to my solo ‘India & Ayurveda’ image. To stand up alone and sell India’s ancient civilization in a jar was not easy. From there, we moved on to Harrods in London, Galeries Lafayette in Paris, the Seibu chain in Japan, La Rinascente in Milan and El Certe Inglis in Spain. Deterrents come up in life, but I have tried to meet them as challenges, with my desire to excel, my relentless determination to succeed, an iron will and sheer hard work. I believe that one should never stop trying. If you never stop trying, you cannot fail.
How the franchise system clicked The Shahnaz Husain franchise system is at the core of the success of the brand. Quite early in my career, I started encouraging ordinary housewives to open salons in their own homes. This way they could have financial independence and yet, be close at hand to take care of home and family. I trained them and gave them the right to start Shahnaz Herbal salons. This was the beginning of my unique franchise system and also the Shahnaz Husain International Beauty Academy. In my effort to popularise the concept of franchise salons, I adopted a distinctive style to promote the new franchise salons by attending the openings, addressing press conferences and speaking on Ayurveda. I gave free consultations. It was all based on a personal interaction, where I would meet people, listen to their problems and provide the solutions. Thus, I was answering a human need. The method proved successful and within the first year, 80 franchise salons opened in India. Although the pace was hectic, I adopted the method for the openings of franchise salons and other ventures worldwide. With the ‘back to Nature’ trend and ‘total well-being’ concepts catching on, the world began to look at India and her heritage with enlightened eyes. My concept of holistic beauty care, with our salon treatments and organic products, was unique and caught on worldwide. The fast-paced extension of the Shahnaz Husain Salons and other ventures is mainly due to our franchise system. Today, we have a global network of franchise ventures. Currently, we are operating in over 100 countries, with
franchise salons, shops, beauty training academies and direct product distributors. Last year, we launched our sales in Lloyds Pharmacy in Selfridges, the famous London store. Today, the Shahnaz Husain franchise has become a successful business model, with tremendous international goodwill and demand.
The face of business Along with general care, the Shahnaz Husain brand has become known for its therapeutic products and for the specialised salon treatments and premium facials. An important USP in brand building has been that this is not a faceless brand name. It is an image-based business. Everyone knows that there is a real person behind the brand, who is herself trained in cosmetic therapy and cosmetology. The Shahnaz Husain label has become a symbol of my own understanding of Ayurvedic beauty care, my vision and philosophy. My name has become the brand and I am the brand ambassador. In pace with the market We have remained a dynamic company, with our development of products and product innovations. In fact, we have kept pace with the advancements in beauty science and also with market trends. In fact, Shahnaz Husain products have actually influenced the market with their innovations and treatments. We have also incorporated spa treatments, in keeping with the current trends and demands. We have also launched our middle segment brand, because we believe that beauty is a necessity. Lessons from the trade We have learnt that franchising has not only helped us to extend and expand our business but has also helped to empower women. Through franchising, we have helped ordinary housewives achieve financial independence and career ambitions. We have seen how they have blossomed into successful entrepreneurs. We have also learnt that it is important to have a vision and foresight, as trends keep changing. Foresight helps in predicting market trends. Innovativeness and independence of spirit are important to make the business dynamic. The dream for brand Shahnaz The future expansion plans of the Shahnaz Husain Group include concentrated international branding, as well as strengthening and widening of our global chain
of franchise salons, beauty training institutes, shops and spas. We will be extending our Ayurvedic spas, and also converting salons into day spas, where treatments will be geared towards revitalisation, rejuvenation and stress reduction, upholding the principles of holistic care. In fact, we have introduced an entire new repertoire of salon and spa treatments, using traditional and exotic ingredients. Product innovation and development are very much on the cards. The company is expanding rapidly. In our mission to spread Ayurveda across the globe, our international presence is gaining further momentum. We are fully aware of the market potential of Ayurvedic beauty products worldwide. That is why we plan to showcase our products at leading beauty expositions worldwide. Such international exhibitions lead to new trading channels, new markets and mutually beneficial relationships. Our participation in the recent Beauty Show at Birmingham elicited several enquiries for distributorship and franchises.
Revitalise The herbal beauty expert shares some quick tips to revitalize your skin after a harsh day at work. A ‘pick-me-up’ face mask can leave your skin clean and glowing. Cleanse the skin. Mix honey with egg white and apply it on the face. Wash off with water after 20 minutes. After washing off the pack, give the skin a cold compress with cotton wool pads soaked in chilled rose water. Alternately, use a fruit mask. It helps to cleanse the skin of dead cells and revitalize it. Mix together ripe papaya pulp with grated cucumber with oats and a little yogurt. Apply on the face and wash it off after half an hour. The rose-water soaked cotton wool pads can be used as eye pads too. Lie down with the eye pads on. This is extremely relaxing and a great restorer of both body and mind. It helps to remove fatigue and brighten the eyes.
July 2011 | The Business Enterprise 1 5
NLIGHTEN
Are you a
leader?
‘Leadership is understanding people and involving them to help you do a job. That takes all of the good characteristics, like integrity, dedication of purpose, selflessness, knowledge, skill, implacability, as well as determination not to accept failure.’ - Admiral Arleigh A. Burke
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Evolution of leadership The concept of leadership is as old/ancient as the human beings themselves. The leadership has been pervasive when more than two persons were alive simultaneously – one being a leader and the other, a follower. But still, the leadership had not attained a stature to the extent it is expected today. Man (and more so, woman) by nature has the instinct to dominate, rule and lead the other. The rulers of the past have been accepted by the people as leaders whether they were pro- or anti-people out of favour or fear. This has, over a period of time, evolved as a concept of leadership. Leadership is all about inspiring the people to do an act, not through coercion but through motivation and persuasion. It is described by few as manipulation or exploitation of ignorance or weakness of one another.
the task environment into a performancebased ambience by redefining the work style and cultural reorientation. He willingly faces all the facets of occupational hazards, be it good, bad or ugly, and emerges as a valuebased, charismatic leader adorned by all. In the context of global competitiveness, organisations of late need more ‘global leaders and visionaries’ and not mere managers. He anticipates uncertainties and acts proactively. For him, emotional intelligence and quotient play a critical and vital role than knowledge quotient which could be easily attained. For him, making the impossible as possible is child’s play as well as a challenge. He encourages his mates to experiment new things and be creative in their problemsolving initiatives. The techniques for people
is not a desk-potato but a field marshall. He believes in Charles Darwin’s saying, ‘It is not the strongest of the species that survives or the most intelligent, but the most responsive to change’ and hence believes in change and injects it in his team and is prepared always for the unexpected. He could effortlessly convert resistance into support by constant interaction and persuasion and energises peers as catalysts. People ask the difference between a leader and a boss. . . The leader works in the open, and the boss in covert. The leader leads, and the boss drives. Participative management provides opportunities for people to perceive the role and functions of the leaders and acquire the skill-sets and thus emerge as future leaders. A true leader does not make his position or presence indispensable in the organisation but puts system in place so that it moves on even in his absence. The standards he sets in are for others to emulate and excel.
Transformation from the role of a manager to a great leader - a prescription.
Leadership redefined: As Warren Bennis puts it succinctly, ‘A new leader has to be able to change an organisation that is dreamless, soulless and visionless … someone’s got to make a wake up call”, a leader has an onerous task of rejuvenating the entire team by setting himself as an example to explore newer paths of performance. The B-Schools and leading management institutes vie with one another in producing a number of managers who play per book but hardly a few of them emerge as business leaders. Managers are thrust on the people by the managements, but leadership is a trusted one and thrust on an individual. Managers operate within the set norms and boundaries, whereas the leaders think solutions beyond boundaries. That is why a big organisation has usually more managers at the middle and a few leaders at the top. Leadership persona The leaders have all the traits to impress their peers and subordinates and have a say in the organization, not born out of authority but out of authenticity and acceptance. He internalises the golden rules of business like planning, organising, monitoring, etc., and brings in cultural paradigms into focus with a professional stewardship by transforming
to quickly and thoroughly scan for values and prioritise based on importance, ensure top values are always embedded in the system of operations et al. are some of the ingredients of an effective leader. For him, self-introspection through SWOT analysis periodically is an ongoing process. He plans and sets high standards of performance, benchmarking the same for others to emulate and replicate. Building relationships, spotting latent potential, sharing the task and as well the credits due thereon, retaining talents and enhancing and engaging the innate capabilities with ambition and drive are some of the virtues of an effective leader. He is respected not only within the organisation but also outside in the society. He proves by action that ‘when the going gets tough, the tough gets going’ and emerges as successful. He could be judged on how he handles failures and behaves in crisis. ‘No pain, no gain; nothing ventured, nothing gained’ are some of his in-built maxims and he
The concept of leadership has been undergoing metamorphosis from time to time based on the evolution of change in the environment and as a result, leaders with strategic designs emerge to lead people in the contemporary world. While political leaders are devoid of any basic tenets by sacrificing everything for their survival, the same cannot be attributed in the case of business and social leaders who have defined objectives and need to have ethical and moral doctrines for a longer period of time so as to establish their name and leave an indelible mark in their domain of operations. Prof. B. Venkateswaran
The writer is Head (Academics), Rai Business School, Chennai
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NLIGHTEN
Crafting
success Rajnikant Kedia, Managing Director, Insta Group of Companies, shares his journey of how he not only pioneered to make a successful business out of the niche exhibition segment but also went on an aggressive expansion spree across Europe, US and The Middle East.
M
y first experience with the exhibition world was a fortunate accident. A chemical company I was working for wanted to participate in an exhibition in Hong Kong. My job was to design the exhibition plan. After this, I handled many such exhibitions. During one such event, I stumbled upon a young Swedish boy constructing a stall all by himself. I realised then that India had a long way to go in terms of exhibition design and execution, and I could play a role in building this industry in India. With this very thought, INSTA exhibitions was born.
Focus was our strength I had many constraints. It was a case of selfbelief and some know-how, against low seed capital and no track record. I built a small team (including a creative director from an 1 8 The Business Enterprise | July 2011
advertising agency, who left his own business to join me) and we decided to focus on a single sector – the pharma industry. We understood the needs of this sector well and took advantage of the word of mouth within a tight network. Such a focused approach to the pharmaceuticals industry drove our growth, and soon we started working with leading pharma companies such as Zydus Cadila, Wockhardt, Ranbaxy and Dr Reddy’s. We extended this approach to other sectors and in the initial years, managed to double our turnover every year.
Early expansion plans Right from the beginning, I wanted to compete on an equal footing with the best in the world. When suitable opportunities came to acquire international presence, we grabbed it with both hands. In 2007, in a horizontal expansion plan INSTA acquired a 27-year-old
Expo display Service (EDS), a Swiss company manufacturing portable display solutions. We first started as an India distributor for this company. We realised first hand the excellent quality of products that the company offered. A couple of years down the line, when we learned that the Swiss owner was ready to exit the business, I made the necessary connections, built a personal rapport with the owner, and carried the deal through. The key benefits that we saw were access to major markets at a reasonable cost, technology and product know-how, and potential operational benefits down the line through transfer of manufacturing base to India. While there were quite a few hiccups (not the least of which was timing; the recession in Europe began shortly after the acquisition), this acquisition is now a major element for our competitive presence.
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We followed this up with another acquisition; that of Exponents in 2009. This helped us to expand our offering to include modular solutions. It also gave us access to the lucrative American market. As before, my ability to understand the owner and build a rapport with him was critical to the deal. In this case, the owner, an innovative designer called Bruce Backer, agreed to stay on with the new entity and is today our Global Chief Innovation Officer. Today, I head a company with a turnover in excess of Rs. 200 crore, offices in most major markets across the world and a blue-chip client list. We employ over 40 MBAs from top schools and designers from the IITs and NID. Our manufacturing operations in India cater to the quality demands of international markets. I do not claim that we are a successful global company yet; but we are getting there.
Lessons from my diary What have I learned along the way? Well, I have learned that self-belief; a good top management team, networking and the ability to relentlessly pursue an identified opportunity are critical to success. I have also learned a lot from my mistakes. Acquisitions always take more time to stabilize than initially anticipated, so it is better to keep this in mind while budgeting for funds and time. I have also learned that we must appreciate and acknowledge cultural differences; and resist the tendency to judge other people by our own cultural standards. I have learned that contracts count for a lot in the developed world, and one has to understand the design of contracts and incentives in detail. Finally, I have learned that is important to
remove layers in communication, and allow people with the capability to solve problems to communicate directly with each other. At the end of the day, when you communicate directly, transparently and with authenticity, managing business relationships is not about being German or American or Indian. It is about two human beings who understand each other, build trust and then work together. Rajnikant Kedia
The writer is MD, Insta Group of Companies. He has vast experience in managing and organising the participation of his company in trade fairs and exhibitions, across the world.
July 2011 | The Business Enterprise 1 9
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Would you believe if we say you can sit at home and get a low-cost loan processed in 15 minutes? Welcome to www.bankbazaar. com
Hassle-free loans 2 0 The Business Enterprise | July 2011
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ankBazaar.com is a neutral online loan marketplace, which offers an end-toend solution for getting the lowest interest rate on loans. Founded by a group of US-returned and home-grown entrepreneurs, BankBazaar.com is a one-stop shop where loan-seekers can instantly get lowest rates, including interest rate, all fees and customer service parameters. They ensure that there are no hidden costs by even exposing secondary fees, which banks normally do not incorporate into the total cost of the loan as they aren’t applicable to all customers (for example, ‘bounced cheque’ fees). So how was the idea of the BankBazaar conceived? Let’s hear it from the founding team. Founders Arjun Shetty and Rati Rajkumar were looking for a home loan in Chennai in early 2007 and found it really hard to get a good deal. They had to go to banks during working hours, stand in line and fill in forms to get a quote. “Once we got the quotes, we still found it hard to compare them as banks quoted interest rates in different ways, and they never spelled out the various fees associated with the home loan.” “In addition, we learnt that banks didn’t usually start off offering the best rate that we were eligible for. The banks usually try and charge a higher rate, and we had to bargain hard to get them to lower their rates. At the end of a week, despite wasting a lot of time researching loans, being good bargainers and being reasonably knowledgeable about finance, we still weren’t convinced that we were getting the best deal on the home loan. Many people we spoke to had had similar experiences. Then Arjun, Rati and I brainstormed on whether we could make this process significantly more convenient, and we became convinced that we could. Thus we founded BankBazaar. com,” beams Adhil Shetty, CEO and Founder, BankBazaar.com He adds, “We wanted a name that can be used pan India and one that is easy to remember. We paid several thousand dollars to purchase the domain name BankBazaar.com. We invested several million dollars as a capital to implement the idea.” However, the biggest challenge they faced
was to convince the financial institutions (FIs) that the Indian market is ready for loan applications online. Given the trend that one is increasingly booking flight tickets online, paying electricity bills online and finding life partners online, they were truly convinced that the benefits of instantly competing loan offers online will find acceptance among our Indian audience and so were their partners. Arjun Shetty, Founder & COO, BankBazaar. com says, “Using BankBazaar.com is completely free for customers today and will always remain so. Also, we charge FIs a small fee for every loan disbursed through us. This is amongst the lowest in the industry.” What’s more, BankBazaar.com has partnered with some of the best names in lending, including ICICI Bank, HDFC Limited, Axis Bank, Reliance Consumer Finance, Union Bank of India and many more. The complete process of obtaining a loan takes a minimum of two days to a maximum of seven days, based on the availability of customer data and required documents. Speaking on their growth strategy, Adhil Shetty says, “We are targeting to partner with over a dozen financial institutions to get the best deals for loan seekers across the credit spectrum. Our concept is very well accepted and encouraged by the market. Financial institutions find us attractive because we give
their customers a great experience. This is especially relevant as the changes in the credit environment in India have made it necessary for financial institutions to cut costs.” Thanks to BankBazaar.com’s cutting edge technology, they have phenomenally reduced physical transaction costs, making them the cheapest distribution channel for financial institutions and banks to offer loans at a cost lower than what they do at their own branches. No wonder, Walden International (WI), a leading global venture capital firm successfully closed a $6 million Series-A round of funding
for the website. Briefing on the deal, Adhil Shetty says, “We are very excited about Walden joining BankBazaar. com as an investor. We believe Walden’s track record in helping scale companies globally and their extensive network and experience in the financial services industry in India will benefit us significantly. The funding will help us in enhancing our reach to consumers and offering across loan and insurance products, thus enriching customer experience.” One of their flagship features are the realtime loan tools. They are by far the most userfriendly and transparent financial applications online. These tools make it easy to compare different offers by showing the ‘total cost’ of each eligible offer for the selected loan (Home, Auto or Personal), loan tenure and loan amount. Apart from real time, customized interest rates, the websites user ratings offer instant feedback and direct comparison of the service and loan deals offered by the various financial institutions on board. So it comes with no surprise that the website gets a whooping one million visitors a month and does at least 5,000 transactions a month. Seeing the power of ‘word of mouth’ marketing, they have recently launched the ‘Associate Referral Program’, a simple
programme for their associates to make money every time someone referred by him/her gets a loan through BankBazaar.com. They share a percentage of the disbursed loan amount with the associate. This is applicable for Home Loans, Home Loan Transfers, Personal Loans and Car Loans. So what are you waiting for? The next time you think of a loan, but want to escape the mind-numbing course of action, just log on to BankBazaar.com, the most convenient place to get a loan.
July 2011 | The Business Enterprise 2 1
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Understanding
customer service metrics
Your employees don't care about service targets. Here is why and how you should deal with it!
2 2 The Business Enterprise | July 2011
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or years, businesses have developed countless theories and ‘best practices’ to either get employees who care or to get employees to Care.
Most smart companies focus on hiring the right people and have put in place incentive programmes for improving service. Increasingly, compensations and appraisals are now being tied to percentage improvements in customer satisfaction, customer loyalty, repeat revenue per customer, referrals per customer, service recovery rates and many other such indexes.
Here’s the problem: Employees don’t live in the world of index improvements. Many may not even understand it.
To help your employees understand and care about quantitative measures, consider and take these five steps:
Step One: Identify and quantify the changes you want to achieve “We want our employees to be more proactive, efficient and value-adding” is a common statement by leaders worldwide. It is a vague idea to employees who live in the world of daily tasks and procedures. Leaders and managers must talk about metrics in language that makes sense to their employees. “We need your help to find and fix the source of these ten complaints before our next survey” is a clear request to client services. “Let’s find a way to shorten the time to process claims by at least 10% while maintaining accuracy” makes sense to the people who work in Finance.
The Promise: What will be the benefit of the proposed new practices? What new possibilities will be created for your employees, organisation and customers? The Offer: What incentives will be provided (financial reward, social recognition, etc.) to these employees demonstrating new behaviours? (‘None’ is also a valid answer, but this needs to be communicated clearly.) The Request: What exactly do you want your employees to do? What are the conditions of satisfaction? How will you evaluate their performance?
These five components cannot be communicated in a single memo to the entire organisation. They must be customised and conveyed to each employee, or to groups of employees in language that reflects the concerns of indexes and their functions, roles and departments.
Once leaders declare the importance of service and tie incentives (financial As leaders, you live in the world of or social) to index improvements, outcomes. Your employees live in the world these indexes become external of tasks and actions, and people-to-people influences on employees’ daily Leaders and managers behaviours. There is frantic activity interactions. should genuinely listen to among employees and managers to employees and appreciate improve these scores, provided the what they care about – their incentives are well designed. These different “Let’s work with our suppliers to reduce the goals, concerns, preferences. Only then can activities and attempts at improving the number of steps required to place our orders” leaders understand the full impact of their scores are often random, uninformed and may sound like a good idea to the folks in proposed changes, take full responsibility and misaligned across the organisation. Resulting procurement. effectively communicate their vision to others. index improvements, if any, are typically Most leaders communicate only ‘the request’ marginal, erratic, unpredictable and difficult The good news is that leaders don’t have to their employees. In his paper, My Problem to reproduce and scale. Leaders then feel to figure everything out. As new practices with Design, Chauncey Bell, asks change the need to change something (quite rightly become standard practice, employees will designers to consider this: so) – they implement new incentives and see the possibilities of positive change and programmes (or even change the indexes) to will help identify more areas for quantifiable Who do we think we are to mess around with get employees to care – leading to further improvement. others’ lives? By what kind of audacity do we confused activity by employees and managers. set ourselves up in that kind of position in Step Two: Design and deliver effective the world? If we puncture the pretence of How do you get employees to care? communications being involved only in the design of artifacts As leaders, you live in the world of indexes and the arrangement of activities, and we and outcomes. Your employees live in the Leaders can achieve effective communication open ourselves to a fuller recognition of the world of tasks and actions, and people-to- by using these five fundamental components: implications of our designs, then we must people interactions. ask where to stand to be confident in our The Declaration: What is your intended judgements about what will be better, or right, It’s not natural or comfortable for business outcome? What indexes are you trying to for those on whose behalf we design. leaders to step into employees’ shoes and ‘meet improve? What is your target for this quarter/ them where they are’. But that is where they year? Why? Step Three: Measure intent first, not live, and where you need to meet them. End outcomes of the day, you need to effectively translate The Assessment: What is the impact scores and targets into the ideas and actions of current practices for your employees, We’ve all heard stories where an enthusiastic employees care about! organisation and customers? employee goes overboard trying to do July 2011 | The Business Enterprise 2 3
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Internalise mistakes into your service improvement process instead of treating them as anomalies.
something extra for a customer (higher discount, extra attention, etc.) and gets reprimanded by the manager. This not only demotivates the well-meaning employee but also instills a fear of trying something new in others across the organisation. The manager didn’t do anything ‘wrong’. He was merely focusing on the unintended outcome – probably increased costs of service or decrease in average response times to customers.
culture, employees are constantly looking to add and create more value in all areas!
When your employees try new things to achieve new outcomes, they will make mistakes. Internalise mistakes into your service improvement process instead of treating them as anomalies. Some metrics that work well for measuring intent: number of unsolicited ideas, number of unrequested (or unauthorised) actions that generated positive responses from customers/colleagues, number of constructive complaints by employees about business processes.
Managers generally understand frontline employees’ worlds much better than senior leaders. Emotional buy-in and involvement of mid-level managers is absolutely critical to get employees to care. As Ron Kaufman says, they can make or break your service culture.
The desired outcomes will be achieved when employees who care are provided with effective service education. You can pontificate till the cows come home about how empowerment is important, but empowerment is useless if your employees don’t care enough to take new actions.
Step Four: Design effective systems and processes for support Existing business processes and systems may need to be reengineered to support new initiatives and revitalise employees. New systems may also be needed to support specific improvement initiatives such as measuring intent, tracking behaviours and outcomes, reinforcing the leadership visions, building transparency into operations across the organisation, reinvigorating values, improving reporting structures and SOPs to empower employees, etc. This redesign is typically ‘easier’ to do when there is high involvement of employees who care. In an uplifting service 2 4 The Business Enterprise | July 2011
Do these four steps sound like a lot of work? They are. But here’s a bonus step that will help:
Step Five: Realise your managers are more important than you.
In Step One: Managers’ input is essential for leaders to translate ‘index improvements’ into specific employee behaviours. In Step Two: The five components of change communication must be reinforced by managers every day. In Step Three: Managers need to appreciate employees’ good intentions and make it really OK for them to make mistakes, and help build a culture of Service Recovery. In Step Four: Process improvement projects need to be driven by managers collaborating cross-functionally to ensure alignment and effectiveness. When these five steps are taken frequently and constructively in your organisation, then your entire team will be stepping up to new levels of service, caring, and results every day. Shyam Kumar
The writer is Client Engagement Manager at UP! Your Service. He provides and aligns global service delivery in the areas of Leadership, Actionable Education and The 12 Building Blocks of Uplifting Service Culture. This article was originally posted on www.upyourservice.com.
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I know what you did this
summer
If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place. - Eric Schmidt, CEO of Google
2 6 The Business Enterprise | July 2011
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n May 31st 2010, thousands of Facebook users throughout the world took an extreme step of deleting their profiles on Facebook. Reason: they were unhappy with the privacy policies of Facebook. People who have been happy sharing their thoughts online, suddenly realised and started questioning the system. Facebook revolutionised the idea of shared content for its social network by introducing ‘Like’ button that publishers could embed on their websites to let users share content. This resulted in information going viral and content sharing made easy. According to Count Forrester Research analyst Augie Ray, “Online sharing has been possible since the early days of the internet, when services such as Prodigy and Geocities offered personal web pages and we saw online sharing jump when blogging tools like Blogger and Wordpress made blogging simple. Later, we saw a huge leap in sharing when Facebook, Twitter and others made it drop-dead easy for people to share what they found with friends, family and peers.” Now when it comes to personal information that we share on these Social networking sites or blog, people have a feeling that it might be misused by the service providers. Some time back Google was under investigation in a number of countries after it admitted that its Street View mapping cars had inadvertently collected browsing information sent over wireless networks, although it said it was highly unlikely that any of the data would be useful. And when it comes to Facebook, some users are worried about the site’s ever tinkering with privacy settings, which has made more personal information publicly visible by default, forcing users to opt out of the settings if they are unhappy.
Allegations of privacy issue: Google Vs Facebook Some time back Facebook complained that Google was violating its privacy policies. Most of the claims were focused around the ‘Google Social Circle’ feature – something that allowed users to view what their friends had created and posted in the public domain of the internet. It was alleged that Google was collecting, storing and mining millionns of people’s personal information from a number of different online services and sharing it without the knowledge, consent or control of
the people involved. One blogger even went on to say that ‘the American people must be made aware of the now immediate intrusions into their deeply personal lives Google is cataloguing and broadcasting every minute of every day– without their permission.’ In order to understand the issue of privacy we need to know how Google works. Google takes content from all over the internet without explicitly requesting the publisher’s permission. The publisher does always have the option to block Google from using their content, but unless they want it specifically hidden from the public there is no real reason to do this. In this process, Google also take information from Facebook, amongst others, but arguably this is content that Facebook has already engineered through its own privacy settings, to become public in order to drive in more traffic from Google.
to decide how much personal information you’re willing to share with third-party websites. When you install a game on your Facebook profile, chances are that you will agree to share some of your information with the developer. It’s also crucial to note that because Facebook is based on ‘networks’ of connections, your friends could be sharing some of your personal information with third-party websites without your explicit consent – but you can adjust your privacy settings to restrict this information-sharing.
Adjusting Facebook settings Here are some ways by which you can adjust Facebook settings. The site allows you to group your ‘friends’ in categories, which makes it easier to share specific information only with certain people. For e.g: you can share your contact details and photo album with your close friend’s group. Opting out of searches is another step you can take if you want to Charlie Cheever, one of developers at prevent your profile appearing publicly when Facebook, explained in his blog someone searches that “Privacy and openness go for you on Facebook The issue of online or Google. It is also hand-in-hand – as we open up, privacy is a raging advisable to protect we have to make sure that users always have control of their the picture albums battle even as information, and understand and videos. You can how and where it’s being used. do this by restricting common man We’ve maintained that trusted who can view voices his stand environment while opening pictures stored on up Facebook Platform and your profile, and even to safeguard his the social graph to external who can view photos information. developers by requiring thirdin which you’ve been party application developers ‘tagged’ or labelled to treat user information with the same respect even if that picture appears on someone we do. All Facebook Platform developers else’s profile page. You can also restrict access agree to the Developer Terms of Service, to every photo album associated with your which strictly limit the collection, use, and profile, to choose exactly which groups of redistribution of user information. We have contacts can view which sets of pictures. technology and a team to ensure applications Publishing full date of birth, postal addresses abides by those policies.” and other contact details on Facebook – and then leaving profiles open to the public – makes it easier for cyber criminals to commit How to manage your privacy online All said and done, there are several ways you identity fraud. Ensure that only your trusted can manage your own privacy online. First, friends are able to see this information. install software updates to ensure that your operating system is as secure as possible. This The U. S. Privacy Study Commission, 1977 will make it trickier for hackers and cyber mentioned that the real danger is the gradual criminals to access sensitive information. erosion of individual liberties through Installing antivirus software, to track and automation, integration, and interconnection eliminate any suspicious files or programs of many small, separate record-keeping on your machine, will also help. By adjusting systems, each of which alone may seem the privacy settings on your profile or photo- innocuous, even benevolent, and wholly sharing account, you can manage your privacy justifiable. It may be true! on social networking sites also. It’s important Sandeep Varma July 2011 | The Business Enterprise 2 7
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I shall give no bribe! While the civil society strives hard to remove corruption in governance, a private corporate organisation tells us how it has managed to run a corruption-free business for years together.
2 8 The Business Enterprise | July 2011
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onesty is not the best policy, it is the only policy. These are the words of Suresh Hundre, Managing Director of the Belgaum-based Polyhydron, which manufactures hydraulic equipments. Polyhydron has been known for successfully running an ethical and corruption-free business for more than two decades. It clearly wasn’t a case where the company was into ethical business right from its inception. The company had indulged in bribery, but an incident transformed its outlook towards running an ethical business. Hundre traces the story of the transition, “I was to pay taxes amounting to Rs. 11,340 in 1983. To save the tax, we indulged in mischief. It ended up badly. In 1985, a tax official found out that we were guilty.” A case was filed for tax evasion. Hundre’s wife was also involved in the business and she had to frequently appear in court. The complications increased manifold. It was then that a thought struck Hundre, “Was this even worth it?” The incident shook him, and he resolved to run a purely ethical business. Since then, there has been no looking back. Polyhdron became a subject of study when it came to business ethics. In a paper titled ‘Resisting Bureaucratic Corruption,’ S. Ramakrishna Velamuri, Associate Professor, China Europe International Business School, and Marc Sosna, Research Assistant, IESE Business School, Spain, studied the approaches that Hundre took towards making his business corruption-free. Immediately after the tax evasion case, Hundre started paying taxes meticulously and changing old business practices with clients and other stakeholders. While earlier they used to sell materials without bills, this practice was stopped and they started accounting for every transaction. With this, dealing in black money (cash income that has not been declared to the tax authorities) was brought to a stop. In the world of business, where bribes and black money are common, Hundre chose to be different, but the path wasn’t easy. He had to deal with many people who would not do
business until a bribe was offered. So, how did he deal with that situation? Hundre says, “I did face many issues when it came to dealing with corrupt government officials, but I openly and explicitly declared that I would not pay any bribe, whoever that maybe and for whatever reason.” He remembers a tough situation he faced on his challenging anti-corruption mission, “Once, I had to get electricity supply and the official told me he would not sanction it until I bribed him. I stood my ground and refused to give any money. I had to battle it out, and this continued for a long time. Eventually, I succeeded, after many visits to Vidhana Soudha and a couple of meetings with the Chief Minister. Finally, the official was transferred. Such people should not be spared,” he says. That wasn’t the end, though, for Hundre. The fight against corruption was a tough challenge, but he did not give up on his ideologies. “People pay bribes because they make black money. They become weak when they start cheating the government,” he says. After many experiences in dealing with officers who wanted bribes, he developed a great quality – patience. “Persistence helped me gather strength and all these incidents made me a stronger person,” he says.
I did face many issues when it came to dealing with corrupt government officials, but I openly and explicitly declared that I would not pay any bribe, whoever that maybe and for whatever reason.
Hundre describes his attitude as follows, “If I do not know some law, how can I be right? I may be wrong, but that doesn’t matter – whatever I know I should be able to manage as per the requirement, and I came to the conclusion that if you are 60% right, nobody can touch you, because the government officers are not knowledgeable of even 50% of the law. This was the thumb rule I made for myself, and I told my managers that whatever happens they must maintain this – there is no alternative and we are not going to bribe anybody from now on.” This decision was the first step on a long and July 2011 | The Business Enterprise 2 9
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difficult road to become a company known for its resistance to corruption. Hundre also created new policies for his companies. He says, “I can list more than 30 things that are followed by most of the organisations, but not by us.” For one, the company does not bribe anyone. There is no AC in his room. There are no lights or fans in his office. The buildings are cellular blocks resembling a close-looped honeycomb and ordered in concentric circles, indicating coordination rather than hierarchy. Most of the walls have large glass windows to enable a clear view of the surroundings and to provide air and light. Transparency is the core of the organisation. There are no supervisors to overlook the work of employees.
, “Recently, a Netherlandsbased company was looking for a supplier, and two companies were shortlisted, ours from India and the other from China. We bagged the project. They chose us because they wanted to deal with people who did ethical business.
Hundre pays Rs. 50,000 per hour as tax. “Today, I get my income tax returns in crores without even going to the tax office,” he explains. Till last year, Hundre was the highest tax-paying businessman in Belgaum. “This was revealed to me by the IT official,” he says. Hundre also brought in the concept of wealth sharing. He says, “We first calculate the wealth created and then we share 30% with employees, 5% with shareholders, 1% with society and the balance 64% remains in the business for growth. Of course, this is all after paying corporate tax as per existing rules.” This enhanced the productivity of the employees and there has been no labour turnover. The productivity was Rs. 35 lakh per person per year last year. Hundre is looking at productivity to be Rs. 40 lakh per employee this year and Rs. 45 lakh the year after. Also, the company has consistently given 100% bonus in the last 5 years.
Last year, the company made a turnover of Rs. 76 crore. “This year, we aim to make Rs. 86 crore and Rs. 100 crore in the following year,” says Hundre. His anti-corruption policy in both business and personal life has given him peace of mind. His ideologies were a huge boost to the business as well. He says, “Recently, a Netherlands-based company was looking for a supplier, and two companies were shortlisted, ours from India and the other from China. We bagged the project. They chose us because they wanted to deal with people who did ethical business and we are well known for doing business in the right way. This year, we exported 40% of our goods to China.” He adds, “Our ethics and honesty are now paying off with respect to business.” Hundre, sure is a happy businessman. When organisations are busy planning their tax, Hundre leaves those thoughts behind. “There is no tax planning, we plan to pay tax,” says Hundre. The company had successfully adapted and implemented its own versions of Just-In-Time (JIT) production, the Kanban Card System, Kaizen, Enterprise Resource Planning and other innovative management practices. In addition, the company has built a meditation centre where the employees can meditate before they start work. The meditation centre has a collection of books on spirituality, religion and the art of good living. The company has built a facility for the employees to perform yoga and has a good gymnasium. The company won the President’s Awards (National Confederation of Small Scale Industries – Small Industries Management Association) for excellence in management instituted by the National Confederation of Small Scale Industry in Chennai in 1992. This year, Polyhydron successfully completed 25 years of corruption-free business. A reason indeed to celebrate the resistance to corruption and for sending out a message that business and ethics can go hand in hand with each other! Corporate world, are you listening? Sharadha Balasubramanian
3 0 The Business Enterprise | July 2011
Advertorial
A starry affair Next time you visit to Chennai, ‘spring’ in the good times! Conveniently located at the heart of the city, The Spring -a business boutique hotel welcomes the weary traveler with a warm heart and a chic ambience. Despite staying close to the buzzing city, this space comes across as an oasis of tranquility. While the splashes of pink, blue and silver spells class, the décor is anything but conventional. Wood, swaroksy stones and silk blend in to give you an exotic interior. What’s more, the handpainted headboards are conversational pieces themselves.
The next day saw us indulging in a proper South Indian breakfast – Idli, vada complete with steaming sambhar at ‘The movies’ – their themed restaurant. Well, no prizes for guessing what the theme was. The place was flowing with Tinsel Town all the way – from Rajinikanth to Aniston, we were sharing space with the poster boys/girls. The menu varied from authentic Indian to international cuisines hot off the chef’s table. And the movie trivia kept us busy between the bites.
Be it their deluxe rooms with a feather duvet or the recommended presidential suite with Jacuzzi, the rooms ooze coziness. The rates are too are surprisingly nominal for a four-star hotel. The stay was made all the comfortable by the cordiality of their staff. The bell boy was in fact friendly enough to give us some knowledge transfer on Chennai’s charms and her ‘super star’ powers. Even as we were planning to step out to experience the nightlife in Chennai, strains of music wooed us to the ‘Star Rock’ and star rock it was. With everything from rock to pop, jazz to country, the Star Rock is a great place to party no matter what kind of music you like. The bar boasts of soft armchairs for lounging and modular chairs for some late night gossip sessions. While the local crowd cheered for Chennai Super Kings’ match, we let our hair down too, thanks to the lively DJ. And for nonsmokers like me, their separate smoking room was a blessing in disguise.
The Spring Hotel’s fourth floor is dedicated to meetings and special events. This is where our office event was take place. The hall was luminous and the food was delicious as usual. The conference was a huge success with employees and so was ‘The Spring’. Our stay with the hotel was almost over and should we say, we didn’t feel the infamous heat of Chennai. After all, we were experiencing the spring! I almost forgot to mention their 24 hour coffee shop, Caffeine. Connected with free wi-fi and steaming with aromas of freshly brewed coffee, this place is perfect to hang out after a hard day’s work. We never thought business travel could be so much fun but it sure was.
XCLUSIVE
Building ethics
The need to build a corruption-free corporate has never been clearer. The 2G, Satyam scams have opened our eyes to incorporating a more ethical corporate policy, to get gains in the long run. 3 2 The Business Enterprise | July 2011
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have often pondered on whether adults can be taught ethics. As per crime triangle, a person commits a crime when three factors are present – opportunity, reward and rationalization. Hence, if the opportunity is available with a lucrative reward, psychologically a person can rationalise a crime. Due to this, in context of India, teaching business ethics is a seemingly impossible task. The psyche of the society shows that corruption is an acceptable way of getting ahead in business. The 3.3 rating in Corruption Transparency Index indicates that people are unwilling to take a corruption and crime-free road. In their minds there is no positive take-away or reward for becoming honest and ethical. Hence, the challenge is to change CXO’s and employees’ perception about business ethics through promotion and prevention tactics. Every dark cloud has a silver lining. In light of recent corruption scandals in India, corporate honchos are now concerned about governance issues. More and more CXOs are worried about the impact of such scams on their economic performance. In the scams, Central Bureau of Investigation is investigating a few well-known corporates – ADAG, Tata, Essar, Unitech, Cisco etc. Corporate bigwigs have finally acknowledged that they are a part of the problem. The business heads realisation that both the supply and demand side parties are responsible for corruption and unethical behavior can downrail economic growth of the country is a positive sign for business ethics managers in India. Finally, they can get budgets for business ethics programs and trainings approved. It is good to strike while the iron is hot. Here are my top three focus areas for improving an ethics program
Build ethical culture into business processes and strategy One of the business attitudes in India is that business cannot be done without paying bribes, hence receiving kickbacks is justified. The mindset is that an ethics program is not practical as business will suffer. For business growth, some compromises need to be done. This thinking makes a code of conduct a document without much strength. Ethical behavior is considered insignificant in evaluating managers’ performance. Hence, the need of the hour is to build ethical culture as part of the business strategy. Processes for monitoring ethical behavior need to be implemented. For example, performance appraisals of employees should incorporate bonus points for the ethical means adopted to meet targets. If unethical methods are used to achieve targets some penalty points should be awarded. In recruitment itself, reject candidates who have falsified information even slightly. Next, in a few cases senior managers formulate strategies considering the political connections and propensity of politicians to accept bribes. Ethics managers must change this attitude of senior managers. Do this by assessing growth and risks on parameters of clean business operations. Present a business case to senior management emphasizing the political, legal and reputation risks in case unethical practices are adopted for implementing business strategies.
Change Mindset of Employees In India, even a youngster will tell you that it is practical to be corrupt.
If a person speaks of ethical behavior, the person is most likely to be viewed as an idealist with their head in the clouds. This cynicism makes it difficult to implement an ethical work culture. India has a huge number of cynics. Unfortunately, the business cost of this cynical attitude is never analyzed by organisations. Organisations need to give ethics training to change perceptions and thinking. Providing classroom training or e-learning is not sufficient. Ethical training should involve group discussions, case studies, brown bag sessions and 1 to 1 meetings with senior managers to emphasize the importance of ethics. Secondly, ethics managers believe that once training is given their job is done. This thinking is incorrect. They should implement measurement and evaluation methods to judge the impact of training in employee behavior and decision-making. Lastly, ethics training is an ongoing process, not once in a blue moon session.
Make Code of Conduct relevant In my opinion, most of the organizations have a code of conduct that employees sign at the time of joining the organisation. New recruits receive a brief overview of expected business conduct in the induction sessions. However, rarely organisations’ code of conduct is a living document. It is not unheard of that the code of conduct is too old and policies mentioned in it are not complying with the prevailing business and legal laws. The situation is that nobody bothered to update it regularly. Hence, these documents are not taken seriously. In my view, this is a good time to review the code of conduct and implement the policies properly. For example, although organisations have sexual harassment policies, India reports one of the highest cases of sexual harassment. As per a recent report, India is the fourth threatening country in the world for women. This clearly indicates that most organisations prohibit sexual harassment only in theory. As the procedures for filing a legal case are long drawn out with high social harassment, organisations may not feel the need to implement the policies. This definitely harms the ethical culture of the organisation and the business environment of the country.
Closing thoughts To make Indian organisations globally competitive at par with the multinationals building an ethical culture is a necessity. The war of talent is won by organisations that provide a comfortable and secure work culture to employees. Multinationals invest in organisations where they are sure of the ethics of the management teams. Customers prefer organisations fulfilling their corporate social responsibility. Look from any lens, adopting ethics pays in the long-run. This is the right time to do some internal selling and get management commitment for building an ethical work culture.
Sonia Jaspal
The writer has 15+ years of experience in risk management consulting in areas of financial, operational, fraud, technology and strategic risks. July 2011 | The Business Enterprise 3 3
XCLUSIVE
Uncovering
fraud Last year had seen a huge increase in corporate fraud; we look at how we can combat this growing menace.
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July 2011 | The Business Enterprise 3 5
XCLUSIVE
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here’s an old phrase that goes around in the fraud prevention circles called the 10-10-80 rule: 10 percent of people will never steal, 10 percent of people will steal at any opportunity, and the other 80 percent of employees will go either way depending on how they perceive a particular opportunity. Let us take a look at how corporates can sway this 80 % to their side and also how to detect the 10% that goes astray. To detect the black sheep in your flock all you need to do is stay awake. There are different indicators to detect a fraud perpetrator. If your guy is staying up late, refusing to take a holiday, don’t be proud of his sincerity. Check his lifestyle and find out if he is up to something. Having said that, most of the red flags are only indicatory and need to be verified before you judge your employee. Other red flags that indicate business accounting malpractices include: • Unusually high revenues and low expenses at a period that cannot be attributed to the normal business cycle • Mismatch in growth in inventory and sales
Purchase This is the easiest department to penetrate. Here’s what you should look out for. • He could create an emergency buying situation where case purchase has to be done • He can dump purchases as budgets are available though products are not needed • He can collate with vendors to boost up prices or to create dummy quotes • Employees can even create dummy companies • He can round off the paisa and siphon it to a separate dummy dealer account
Sales • Sales incentives People to tend to pile up sales during month end and quarter ends; they dump the products with the dealers and the products come back as returns in the next cycle. • Samples and gifts These are commonly sold off elsewhere • Incentives to dealers These are often tampered with, these should be directly linked to performance. • Using company resources to sell his own product aka rocket Singh – good for him, not for you. • Cash sales without billing
Internal company fraud thrives in environments of trust and access – which individuals working in the CEO and MD areas certainly have -therefore, is not surprising.
• Reported earnings that are growing as against operating cash flow that is declining • Growth in revenues that is far greater than growth in competitors • Operating margins out of sync with peer companies • Extensive use of off-balance sheet entities • Sudden increases in cash flow as compared with the company’s previous performance or with industry averages • Steep increase in the book value of assets inventory and receivables • Complex disclosure notes that make it impossible to determine the actual nature of the transaction • Invoices that go unrecorded • Serial cheque bouncers of the same series • Loans to executives or other related parties that are written off
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Now that we have discussed on the red flags, let us look at the practical loop holes across different sections of an organisation where frauds can occur.
Basic address verification and cross-verifying of market prices could halt such dubious transactions. Avoid cash transactions as much as possible.
Inventory management • Inventory pilferages Good items can be certified bad and sold off at spurious markets, this is a common practice in automobile companies. • Transport tamper Goods can be replaced before delivery with cheaper replacements. • Incentives to vendors/ dealers/ agencies If the calculations are complicated, there is high chance that it is tampered with. • Stock discrepancies
HR • Ghost employees Creating dummy employee details is a common practice in IT sector.
• Payroll processing This might be an interesting case of technology fraud yet it involves the HR as well. We came across a weird scenario in a company where a company’s employees were not credited salry if an employee was sacked. It took them some time to realize that he has coded the payroll system in such a manner that it doesn’t run without his name in the list.
• Unclaimed wages Most employees do not claim their final settlement, this can be an area of interest for the fraudster. • Soft crimes One in five CVs are said to be fraudulent, travel bills can be tampered Finance • Teeming and leading Cash is rotated and shown as unsettled IOUs or advances The latest survey by KPMG shows that most corporate frauds happen at CEO and CFO levels. Ms. Carolyn McNiven, a former federal
Benford’s law
The ‘number one’ trick Benford’s Law is named for the late Dr. Frank Benford, a physicist at the General Electric Company. In 1938 he noticed that pages of logarithms corresponding to numbers starting with the numeral 1 were more worn than other pages. Logarithm tables (and the slide rules derived from them) are not much used for routine calculating anymore; electronic calculators and computers are simpler and faster. But logarithms remain important in many scientific and technical applications, and they were a key element in Dr. Benford’s discovery. Dr. Benford concluded that it was unlikely that physicists and engineers had some special preference for logarithms starting with 1. He therefore embarked on a mathematical analysis of 20,229 sets of numbers, including such wildly disparate categories as the areas of rivers, baseball statistics, numbers in magazine articles and the street addresses of the first 342 people listed in the book “American Men of Science.” All these seemingly unrelated sets of numbers followed the same first-digit probability pattern as the worn pages of logarithm tables suggested. In all cases, the number 1 turned up as the first digit about 30 percent of the time, more often than any other. Dr. Benford derived a formula to explain this. If absolute certainty is defined as 1 and absolute impossibility as 0, then the probability of any number “d” from 1 through 9 being the first digit is log to the base 10 of (1 + 1/d). This formula predicts the frequencies of numbers found in many categories of statistics.
Even more astonishing are the effects of Benford’s Law on number sequences. Intuitively, most people assume that in a string of numbers sampled randomly from some body of data, the first non-zero digit could be any number from 1 through 9. All nine numbers would be regarded as equally probable. But, as Dr. Benford discovered, in a huge assortment of number sequences, this is not so. Given a string of at least four numbers sampled from one or more of these sets of data, the chance that the first digit will be 1 is not one in nine, as many people would imagine; according to Benford’s Law, it is 30.1 percent, or nearly one in three. The chance that the first number in the string will be 2 is only 17.6 percent, and the probabilities that successive numbers will be the first digit decline smoothly up to 9, which has only a 4.6 percent chance. A strange feature of these probabilities is that they are “scale invariant” and “base invariant.” For example, it doesn’t matter whether the numbers are based on the dollar prices of stocks or their prices in yen or marks, nor does it matter if the numbers are in terms of stocks per dollar; provided there are enough numbers in the sample, the first digit of the sequence is more likely to be 1 than any other. Benford’s law is enabled in softwares like ACL and IDEA. This can be used in fraud detection like duplicating cheques, finding cheque no. gaps etc.
July 2011 | The Business Enterprise 3 7
XCLUSIVE prosecutor, who handles white collar criminal defense and related administrative, regulatory and compliance matters for individual shares her views on this shocking revelation: “The key results of KPMG’s global study are not surprising. First, as to what areas in companies spawn fraudulent behavior, you need to remember that fraud is an opportunistic crime. That internal company fraud thrives in environments of trust and access -- which individuals working in the CEO and MD areas certainly have -- therefore, is not surprising. Individuals in those areas are less likely on average to be closely supervised than clerks in accounts receivable, for example, yet they often have access to some of the most sensitive information and assets. By analogy think of the security surrounding bank employees: tellers have their cash drawers counted after every shift; however, loan officers, who have access to vastly larger sums of bank funds are generally not scrutinized in the same way although they too are human and subject to the same impulses to steal and self deal.
(87 per cent), between the age of 36 and 45” is consistent with my 13 year experience as a white-collar federal prosecutor. The majority of individuals whom I prosecuted for white collar crimes -- particularly insideroutsider schemes fell into this demographic. It makes sense when you consider that they are individuals who have progressed to a senior enough station within a company to obtain sufficient autonomy and trust -- and access -- that they can commit such crimes. Further, it is often men in this age group who are under pressure -- either at home or at work -- and choose to solve their problems through committing fraud. Indeed in some of the cases I prosecuted,the same kind of risk taking style that landed the perpetrators in senior positions, ended up being their undoing since they underestimated the risks
to steer checks for work not performed. You can see how things can get out of hand when need meets opportunity and greed takes over.” If you are worried about fraudelence at the top level, here is the list of management frauds that are most likely to happen at any organisation:
Management frauds • Boosting profitability (P&L account) • Bribing different departments • Changing inventory • Insurance frauds • Shredding of important documents • Defrauding MIS Having seen the different possibilities for insider fraud, let’s hear it from international player in fraud detection on his take on insider fraud. Here’s from Paul McCormack, Vice President, Connectics:
It is not all about internal fraud. Employees can provide considerable help in detecting and preventing external fraud. They often hate seeing fraud happening on their 'watch'.
Second, the trend towards an increased number of insider frauds may well result from the same economic and cultural shifts we have seen in other areas. People -- particularly the middle class were hard hit in the recession resulting in increased financial pressure, which in turn can create the incentive to steal or “borrow” from one’s employer. That incentive combined with a fairly systemic disenchantment with employers -- particularly those that downsized significantly --creates an environment where workers may be more likely to take what they can get from an employer, particularly if they believe that they are being undercompensated or the employer has transgressed in some way (for example, by paying its upper level management disproportionately while cutting staff). This changed mindset basically allows individuals to justify fraud to themselves and frees them from whatever loyalty may previously have held them back from acting against their employer. Finally, that “the typical fraudster is male 3 8 The Business Enterprise | July 2011
posed by committing fraud and the likelihood that they will get caught.” She further shares with us a case-study from her vast experience in dealing with handling fraud, antitrust, Foreign Corrupt Practices Act (FCPA AND providing compliance counseling to public and private entities. “One case that I prosecuted in Chicago involved a man who, after becoming internal counsel at a mid-sized trading company, needed money to pay for his extravagant life style. He turned to his brother – an attorney at a local law firm – to develop an invoice scheme. The scheme was very simple: the insider legal counsel hired his brother to perform legal work – something that advantaged both of them – and the law firm brother kicked back money to his insider brother as a thank you. Things soon spiraled out of control as they created phony invoices
Insider fraud comes in many different forms. Some are easier to detect than others. For example, if an employee is submitting altered or fake receipts for expense reimbursement, it is relatively easy to uncover. However, when there is no separation, or segregation of duties, employees can easily cover their tracks. I investigated a case where a back office employee was responsible for writing checks, updating the check register, receiving the bank statement and creating new vendor accounts. They also received all of the company’s mail, including bank statements. Given that they had control of the entire check issuance process, they were able to issue over $250,000 of fraudulent checks to themselves, as well as members of their family without the owner being aware. Alternatively, if a senior executive decides to commit fraud, he can direct members of his staff to perpetrate the fraud. The staff, may or may not be aware of the senior executive is committing fraud. In either scenario, they may not report fraud as they fear losing their jobs. Or there may be no one else in the company
they can turn to share their concerns. Below are some measures that companies can implement to help reduce insider fraud risk (in no particular order):
• Tone at the top - Don’t send the wrong message to employees – “Walk the talk…”. For example, if owners / senior executives occasionally pay for incidental personal expenses by using the company’s petty cash. Always assume an employee is watching. If employees believe that the accounting for cash is lax or not enforced, they may view cash as theirs for the taking • Hire the best – It is difficult to obtain a reference from a candidate’s former employer. You may need to engage 3rd party. Always call references provided by the candidate. Remember to call the company’s main number to ensure that you are not talking to the candidate’s friend or accomplice. If the references provided by the candidate are ambiguous, or appear less than forthcoming, consider asking for additional references. Always ensure that the educational credentials detailed on the applicants resume were actually earned • Code of conduct - Create a code of conduct and have Owner / CEO recommit to the code on an annual basis. Employees should acknowledge that they have read, and understood and will abide by the code (have them sign a copy). Once documented, the expectations detailed in the code of conduct can be referenced repeatedly and serve as the cornerstone of the company’s culture. In the event that an employee is terminated, a signed code of conduct can be included in the termination package • Employee education - It is not all about internal fraud. Employees can provide considerable help in detecting and preventing external fraud. They often hate seeing fraud happening on their ‘watch’. Provide fraud training to all of your employees, regardless of their function. As an added benefit - While educating employees about external fraud, you can also provide education on how the company detects and prevents internal fraud • Increase the perception of detection - You cannot be everywhere at all times. Most
effective method of prevention resides in employee’s mind. Internal controls must be followed, management review completed, expense policy adhered to etc. Management should never appear overly distracted or ‘asleep at the wheel’. Employees should never feel that they are ‘guilty until proven innocent’ – that will create different issues
• Mandate that all employees use their allotted vacation each year Fraudsters do not like taking vacation as doing so often leads to the discovery of fraudulent activity. If an employee refuses to take vacation, assign them to another function within the company and conduct a review of their primary function • Deploy an employee hotline – The ACFE report shows that employee hotlines are very effective in uncovering fraud. Ideally, engage a 3rd party (normally a fee per employee, or flat fee). Follow up on all tips. Always report back to tipster that the allegation was thoroughly investigated. Store tip information in a secure manner. Disclose on a ‘need to know’ basis • Monitor email & web access Theft of intellectual property is a form of fraud. Customer lists, sales methodology, manufacturing specifications are trade secrets if you treat them as such. Fraudsters often use their work email account to facilitate fraud, or communicate with accomplices. Cloud computing provides fraudsters with free resources to quickly move large volumes of data • Invest in fraud education - Subscribe to fraud blogs, create Google alerts, learn how and why fraudsters may target your business. Assess your risk on annual basis. Has our fraud risk increased? Decreased? Are we planning to expand? If so, how will I ensure fraud is prevented? Learn from the misfortune of others. Take time to analyze frauds at other small businesses. Ask one question – Could it happen here? • Engage the experts - Periodically, consider engaging a suitably qualified fraud expert to conduct an independent review of your company’s ability to combat fraud. Surprise audits of high risk functions can
help uncover fraud and increase “perception of detection”. Frequently conduct a review of all processes involving the receipt of cash, checks and credit cards Fraud prevention requires a multi-pronged approach that is endorsed and actively supported by senior management / owner. It is impossible to eradicate the threat of fraud, but much can be done to reduce the probability that your organisation will become a victim. Constant fraud risk assessment and internal audit can keep perpetrators at bay. There are also many fraud detection softwares that can help detect fraud at an early stage. Jasbir Anand, Lead Solutions Consultant for ACI Worldwide opines that prevention is better than cure. He says, “Insider fraud is now attracting more attention from businesses where employees have access to compromising customer and account data. To help combat this type of fraud, financial institutions need to make sure their fraud detection systems are designed with employee fraud monitoring capabilities that will give the institution the ability to monitor employees behaviors over time to identify anomalous behavior indicating potential internal fraudulent activity. Combining employee activity with customer level transaction decision systems like ACI PRM delivers significantly better detection results.” Once such systems are in place, do an ‘attack and penetration’ test to verify the possibility of an actual fraud attack. Also, if you see smoke, talk to disgruntled dealers/ ex-employees to get the whole story. Do not hesitate to include stringent systems and process in place. Having good systems in place will definitely save you the blushes later. And one last reminder, ethical practices run top-down. Be an example.
Kalyan G Kumar, CEO, Brisk Corporate Services and Anusha Kannan, Director, Beecon with inputs from Paul McCormack, Vice President, Connectics who leads the firm’s fraud and intellectual property protection practice. July 2011 | The Business Enterprise 3 9
XCLUSIVE
Taking on
discrimination How can HRs combat discrimination at workplace
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hough it has been said that the ‘world is open for talents’, many Indian and multi national majors have reportedly being noticed for discriminating employees at work with respect to caste, sex, age, community and so on. There have been companies which have been reported not to employ women folk as they need to address maternity related benefits. There are many companies which choose to recruit candidates belonging to a specific community for positions which they feel are important and yes, it is prevalent even in this century. In a recent survey, a female employee working in a private insurance company opened up about her first interview. When the interviewer queried about her future plans of marriage, he was hesitant to offer the job when she said that she was going to marry within the next three months.
After all, it is fool-proof and leaves no room for cheating or misrepresentation and the person’s caste or creed stands no chance.
Regulations Indian judiciary has laid down various laws for equal employment, equal remuneration and equal opportunities. However, these have been followed by employers only on a compliance perspective and not from a diversity perspective. This attitude should change for betterment. Employers much understand the benefits of a diversified workforce which will lead to more creative products/ services, increased productivity, competitive advantage, synergistic advantages and many more. In addition to the legislative and judicial activism, international covenants and
In many cases, though the top management supports diversity at work place, at divisional or at team levels, employees are being discriminated by their immediate supervisors. The top management should ensure that committees are formed in organisations as a self-help group to enable employees to raise voice against discrimination. Most importantly, employees should be made aware of and reminded frequently on the existence of such groups and their rights of employment. Many employers follow an effective method of issuing policy handbook to employees which talk about how one can raise grievances related to discrimination. This should be put to practice and not just kept in letters. Also punishing such perpetrators would stop others from following suit.
Employers much understand the benefits of a diversified workforce which will lead to more creative products/ services, increased productivity, competitive advantage, synergistic advantages and many more
In another case of utmost discrimination in Chennai, a girl was asked to put up her resignation papers when she fell in love with an upper caste colleague. Most of the managers were from his caste and they didn’t want a lower caste girl to taint their class. Discrimination is not necessarily only at selection and exit, but also prevalent at everyday work - promotion or rewarding or at penalizing for mistakes. It has been the cribbing of many employees that ‘any mistakes that I make, even minor ones is magnified and seen as a great mistake.’
What shall be done to combat this? Use of UIDs Discrimination with respect to caste or community happens only if it is revealed. The use of Unique Identification Number (renamed as Aadhaar number) shall be a ready remedy. UIDs serve the purpose of identification and also help in verification.
conventions like Millennium Development Goals and Convention on the Elimination of Discrimination against Women (CEDAW) have also paved the path for development of the women in member countries like India.
Flexi-timings Many companies especially in IT and ITES sector have started understanding the need for gender inclusive growth and offer flexi timings for new mothers. This has helped them to combat employee turnover and affinity towards organisation has increased. Committees to combat discrimination The foremost thing that any employee should do is not to ignore it. This may create a culture of tolerance and acceptance.
Stop stereotyping Though it is very individualistic, people should be coached to keep personal philosophies personal. Be it be regarding race, religion, sexual orientation, and other potentially contentious, even a casual talk might lead to serious issues.
Lead by example Employers who hire a diverse group of employees and treat them equally will encourage the same treatment from employees. Also remember, the world is watching and every employer is ready to accept ‘Best Practices’ from their competitor for sustenance and growth. So bring in change from top-down. End Note As the economy becomes even more global, operating in a nut shell does not benefit organisations in the long run and employers are in need to come out of the comfort zone, accept change and prepare them to make the organisation a diversified workplace sans discrimination. Sri Gowri
July 2011 | The Business Enterprise 4 1
XCLUSIVE
The
greenwashers They are green or so they say. Sharada Balasubramanian takes a look at the latest marketing gimmick used by several companies to woo their naive customers – the green bait.
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reen is fashion, green is elite and so is anything which symbolises being environmental-friendly. It has become especially true in the corporate world, where the number of ‘going green’ companies is burgeoning at a rapid pace. In the true sense of being green, how many companies actually contribute to environmental sustainability is a subject for debate. Many companies which claim to be green are only ‘green washing’ companies. Let’s take a look at the case of Fiji Water. There have been many reports which mention about Fiji Water ‘green washing’ their customers. When the case against Fiji became stronger, and when environmentalists started questioning them, there was an increasing fear in the company. This came with a question on the environmental impact of the bottles and how they accumulate in landfills for thousands of years. Fiji then made plans to reduce the use of packaging and switch to more efficiently recyclable plastics. Also, to pay for their ‘carbon sins’, they entered into carbon
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offsetting. Fiji’s goal was to be not just ‘carbon neutral’ but also to be carbon negative. Many experts claim that the whole premise of carbon offsets is based on dubious math. How does one actually measure a carbon footprint? The marketing claims done by Fiji was thus: now, buy a bottle of Fiji water and reduce the carbon that is being released into the environment. To elucidate further, there is one type of carbon credit which is given out on the basis of existing carbon reductions (i.e. carbon credits issued for a tree-planting program that is already in place). There is another type of carbon credit which is forward crediting. This allows buyers to purchase offsets that have not yet been produced (i.e. credits issued for a tree-planting program that is yet to begin). According to the Stockholm Environment Institute, this is the riskiest type of carbon credit transaction because buyers pay for credits upfront without any guarantee that carbon removal will actually occur. This is what happened in the case of Fiji Waters. They went into forward crediting. This is a classic case of green washing. In fact, Fiji
Waters has been sued for green washing. Many of these green ideas suffer mainly from a sensational marketing strategy, which leads to selling more of their products, and as a result, cheating the customers by selling overpriced bottle, on claims that they are reducing carbon emissions into the environment. Green-washing can make a company appear to be more environmentally-friendly than it really is. It is a way of promoting products to people by telling them that if they buy that product, they would be helping the environment. Web-ecoist speaks of ten worst green washers in the world. Fiji Waters does feature in the ten apart from other organisations like BP, General Motors, ExxonMobil, Monsanto, Dow Chemical, American Electric Power, Fur Council of Canada, to name some. In India, companies talk about climate change and going green, but there are very few who make efforts to become environmentally sustainable. Abhishek Pratap, Senior Campaigner, Greenpeace India says, “There are some companies in India which are serious about environment, but most of them are just into green washing.” Every company wants to be seen as an ethical company. Though may companies conduct activities relating to environment, there are very few who actually invest in environmental sustainability. Abhishek says, “Most of these companies do this under the corporate social responsibility (CSR) initiative, but sustainability is not a part of their core business. The approach here is very philanthropic in nature.” “There are two kinds of companies,” adds Abhishek. “While 90-95% companies still think of environment as a social responsibility, only 4-5% of companies take it seriously with respect to implementing environmental policies within the company.” He cites Wipro as a company which has adopted some key strategies to involve sustainability in the organisation. Companies like Tata Consultancy Services (TCS) followed suit. Some of the companies even advise their
clients on sustainable environmental strategies. Yet many companies fail to understand the very concept. “For some companies, going green is bringing in a green logo, or having a brochure in green colour or planting saplings,” says Abhishek. When companies indulge in such activities, they call themselves ‘green’ companies. “There are certain companies which promote sapling plantation, but to do this, they go in fancy cars. This is not being green,” smiles Abhishek. Greenpeace has been campaigning against a leading telecom player, asking them to stop using diesel and use renewable energy instead. Airtel has not come back to them agreeing to operate on renewable energy. Abhishek informs, “This is one company which has won many awards, but when it comes to clean energy, there is no commitment coming from their end. They are not saying that they will adopt clean energy and adopt sustainable environmental practices. They started paperless billing but it was to save the cost of paper. A company like Airtel should take a lead and commit to sustainable energy, but they are not doing so.” Abhishek cites another example. “Take the case of another leading telecom company. In their advertisements, they talk about going paperless, however if you look at their policies as such there is no mention of environment in the agenda.” This is a case of green wash. There are many other Indian companies which fall under the bandwagon of green wash.
There are certain companies which promote sapling plantation, but to do this, they go in fancy cars.
Companies have to move beyond philanthropic reasons and CSR initiatives to bring in sustainability in their operations. They have to bring in a strong framework and policy making to adopt sustainable practices that will benefit the environment in the long run. Mere practices like going paperless, planting saplings is not about going the green way. If there are companies which call themselves green with such initiatives, then customers should be aware of the same. If you are planning to buy products of companies which claim to contribute to environment, it is essential to verify such claims done by the companies before buying their product or they might just be green washing you.
July 2011 | The Business Enterprise 4 3
XCLUSIVE
Patent infringement Assessing patent risk for your product in the initial launch phase can prove to be a wise decision considering the rising number of litigations on patent infringement.
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atent activity has been growing in India at a steady rate. The increase in patent filings/grants and litigation indicates the growing interest of corporates to protect and enforce patents. Under such circumstances, assessing patent risks with respect to the development and launch of products assumes very high importance. Risks from patents primarily come from patent infringement and, therefore, understanding and assessing infringement is a critical step in patent risk analysis. As has been seen from the Bajaj/TVS litigation, losses related to patents do not necessarily come from only damages for patent infringement, which could be huge. In the said case, TVS was placed under great loss because of a temporary injunction issued against the sale of its bike called, “Flame�, after pumping in large sums of money into product
4 4 The Business Enterprise | July 2011
development and launch. The case reiterates the fact that patent infringement assessment must be done at a preliminary stage, such as while making plans for product development, devising research programmes, product launch plan formulation and so on. Having said that, litigation may still ensue after such assessment and infringement is a mitigative measure rather than a preventive measure. FTO and Infringement Analysis The patent risks from a product or process must be assessed before launching a product, initiating research, setting up manufacturing facilities and so on. The first step towards assessing patent risk is performance of a Freedom to Operate (FTO) analysis. Such an analysis includes two steps – patent search and infringement analysis. The objective of the patent search is to identify patents that relate
to the product sought to be launched by a company. Once such patents are identified, an infringement analysis is carried out to assess if the product infringes any of the said patents. Patent Rights A product patent grants the following exclusive rights: • Right to make; • Right to use; • Right to sell or offer the product for sale; and • Right to import the product into India. The exclusive rights allow a patent holder to prevent any person from exercising the said rights over a product, which forms part of the patent without his permission. A process patent grants the exclusive right to prevent third parties from using the method or process in India. It also grants the right to prohibit third parties from making, using, selling, offering for sale or importing a product that is obtained from the process in India. It must be noted that the exclusive rights are granted only within the territory of the country where a patent is granted for a period of 20 years. So, if a patent is granted in India, the exclusive rights will be applicable for India only. The rights will be available in other countries only if patents are granted in those countries. Infringement of a Patent A person or a company will be liable for patent infringement, if he exercises any of the exclusive rights of a patent holder over a patented invention without the patent holder’s permission within the territory of India. A product or process is said to infringe a patent granted in India if the following conditions are satisfied: • The product or process in question falls within the scope of at least one claim in the patent; and • The person exercises the exclusive rights of the patent holder over the product or process in India without the permission of the patent holder. Infringement of a patent may be either literal
infringement or infringement by equivalence. Literal Infringement A product is said to be literally infringing if all elements of a patent claim are present in the product and a process is said to be literally infringing if all steps in a claim are present in the process. Infringement by Equivalence Although a product or process is not literally infringing, it may be liable for infringement by equivalence. A product is said to be liable for infringement by equivalence if elements in the product that differ from the patent claim are in substance equivalent to the elements in the patent claim. A process is said to be infringing by equivalence if the steps differing from those in the patent claim are in substance equivalent to those in the process claim in the patent. In other words, a product or process that includes the substance of the patented invention, or the pith and marrow of the invention, would be infringing. A product will be considered to be equivalent of a patented invention, if it is similar in construction and function to the patented invention. To determine whether the product or process falls within the scope of a patent claim, the product or process has to be compared with the elements or steps in each of the patent claims. If all elements or steps of a patent claim are present in the product or process, literally or by equivalence, then the product or process is said to be infringing, else it will not be infringing. Example If a person wishes to launch cups with detachable cup holders in India, he must perform an FTO analysis to assess if the said product is free from risk. The first step here is to perform a patent search in India and identify patents that relate to cups with magnetic cup holders. After performing the search, the person must analyze if the proposed cups infringe any of the said patents claiming cups with magnetic cup holders. If the cup infringes any of the said patents, it would be risky to launch the said product; else the product may be launched. Defenses and Strategies If a product is infringing a patent and would
be risky to launch, the risk may be mitigated through any of the following steps: • Circumvention The product may be modified in such a manner that it falls outside the scope of the patent claims. Such circumvention can be done by the scientist or inventor in association with a patent expert. For example, if the cup with the magnetic cup holder falls within a patent claim, the cup may be modified in such a way that the features of the cup sought to be launched are not the same as the elements provided in the patent claims. • Licensing A patent license permitting the use of the patent may be taken from the patent holder. Such licenses are of various kinds and may be designed with the help of a patent attorney. For example, a person wishing to launch cups with detachable holders can approach patent holders of patents relating to cups having such holders and acquire a license to manufacture and sell such cups. • Defenses Safe harbour from infringement may be sought under patent defenses. Although a product or process falls within the scope of claims, it would not be considered to be infringing if it falls within the scope of defenses. Such defenses include government use, research, education, parallel imports and so on. The meaning and scope of the defenses is very ambiguous at this point of time and this strategy must be adopted only after due consideration. This article provides an overview of risks and certain commonly followed mitigation strategies. While the stated strategies may be considered for mitigating risks, they may not be generalized for all situations. The risk and related strategy will vary from case to case and must always be framed in association with a patent expert. Many companies choose to voluntarily infringe a patent despite certain risks, as the benefits outweigh the risks. Considering the multitude of options, a riskbenefit analysis in the light of the business goals of the company is a very important component of risk assessment and mitigation. Dr. Kalyan C. Kankanala
The writer is Chief IP Counsel, Brain League July 2011 | The Business Enterprise 4 5
NTERTAIN
Jewel of the
desert Celebrating the spirit of the mighty Thar, the city’s first true luxury boutique hotel – Suryagarh, Jaisalmer gives you a taste of royalty.
4 6 The Business Enterprise | July 2011
P
oised to be the ultimate heavenly hideaway for both business and leisure seekers, Suryagarh is a tribute to the glorious times of the royal past. Designed as a sun fortress, it exquisitely combines the contemporary with medieval, featuring courtyards and traditional Rajasthani artifacts. Everywhere you turn, there are modern and authentic versions of painstakingly restored period furniture and a luxury of space emphasised by the interesting use of yellow marble and Jaisalmer stone, lending an ambience of regal splendour.
Conveniently located from the city centre, Suryagarh boasts of 62 luxuriously appointed rooms and royal suites where contemporary design meets royal Rajasthan. Guestrooms are elegantly designed with plush kilims, dark polished wooden flooring and use of local craftsmanship serving as an epitome of luxury. Heritage pieces of art were rescued and restored from forgotten attics juxtaposed with modern convenience to usher in guests for a journey of romance and grandeur of another century.
The Hotel offers the largest banqueting facilities in the city, including spacious ballrooms, conference rooms and multiple alfresco venues for corporate and social meeting and events. Dining options include Nosh, an all day dining serving a menu of exceptional quality featuring the best of both International and Indian cuisine; The Legend of Marwar, a fine dining Rajasthani speciality restaurant that recreates a royal dining experience complete with performances of Indian music and dance and Draksh, the lounge bar with an intimate setting for guests to enjoy their favourite drink after a day of sightseeing. The bar offers a variety of fine wines and spirits in surroundings that relive the days of a bygone era. In addition, there are options of experiential dining at exotic private venues and in-room dining, for guests who prefer to enjoy the tranquility of their own room.
nasty in the world. Suryagarh offers innovative guided excursion trips to the spectacular ruins of Kuldhara, Gadisar Lake as well as tours of the Desert National Park. Engage the adventurous side in you by dune bashing at Sam and enjoy breathtaking views of the sunset. A plethora of activities await within the premises of the hotel, such as cooking demonstrations and talwar baazi. Revel in the opportunity to learn the art of lacquer painting and enameling from distinguished practitioners of the ancient art forms. For those in search of privacy, peace and serenity, Rajasthan’s first Desert Spa – Rait offers the perfect getaway, also featuring an indoor pool and fitness Centre. Come to Suryagarh, Jaisalmer, to experience a royal sojourn.
Explore the city of Jaisalmer steeped in the magnificence of the oldest living dy-
July 2011 | The Business Enterprise 4 7
NTERTAIN
Brand basics
Do you know how some famous brands got their names? Adidas The name Adidas is derived from the name of the founder Adolf (Adi) Dassler.
Google Originally named “Backrub”, the company was being changed to ‘Googol’, a word for the number represented by 1 followed by 100 zeros. The name was spelt incorrectly as “Google” in 1998 and it stayed! CISCO It is not an acronym as we believe. It is short for San Francisco! Nike The company has adopted its name from “Nike – the Greek goddess of victory”
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NTERTAIN
Corporate cusine This month, Cream Centre gives thethe inside scoop on Vivanta. two of his This issue, we Chef share William with you from some mouth-watering recipesus from kitchen of Taj’s delicacies – Bambaiya Ragda and Tandoori Paneer Veg Shashlik Sizzler. Tandoori Paneer Vegetable Shashlik Sizzler SUSHI RICE Ingredient
TIME FOR PREPARATION: 25 min Paneer Tikka 80.00 Basmati Boil Rice 150.00
Ingredients 16.00
cauliflower
• Rice potato chips vinegar 100.001000 ml • Sugar 600 gm green peas 10.00 • Salt
Spinach Boiledrice • Sushi cabbage • Water
100 gm
20.00 1 Kg 105.88800 ml
soya dressing
10.00
carrot
16.84
Method
french 16.84 in a small handi • beans Take the rice vinegar Garlic•Sauce Boil it with salt100.00 and sugar until salt and sugar gets dissolve pineapple slices 20.00 • Strain it and store it Onion Sauted 20.00 • Wash the sticky rice very well and soak it overnight Capsicum 15.00 • Cook the rice in a cooker with water for approx 25 min onion• Cool the rice and 10.00spread out. Tomatoes 15.00rice, add 300 ml of sushi vinegar. • For 1 kg of cooked
Preparation of paneer
Take paneer and cut it into square pieces, marinate it with all the ingredients given above for one hr then cook it in the oven for five minutes.
Preparation and serving of Sizzler
Take a iron hot plate, cover it with boiled cabbage leaves so that the food does not burn. Add boiled spinach, cauliflower, green pea and tomato. In the middle, add boiled spinach rice and then balance Cover it with French fries or potato chips. On the top of the rice, pour garlic sauce and garnish with marinated paneer.
5 0 The Business Enterprise | July 2011
Ragda Patties Ingredient for Ragda White Watana Refined oil
1,000.00 100.00
Ingredient for Patties Boiled Potatoes
1,000.00
Salt
5.00
20.00
Chat Masala
2.00
Chilly Whole
4.00
Jeera Powder
2.00
Cinnamon Stick
6.00
Corn flour
4.00
Bay Leaf
4.00
Corriander Whole
5.00
Jeera
Ginger
80.00
Garlic
100.00
Onion
500.00
Tomatoes
250.00
salt Corriander Leaves Boiled Potatoes
Powered by
Preparation of Patties
Grate boiled potato and add salt to taste. Add corn flour and mix well. Make a circle and deep fry till it turns golden brown. Garnish with home made mint chutney.
30.00 34.00 300.00
Preparation of Ragda
Boil White Watana. While boiling, add turmeric powder, boil it for 30 to 40 Min in slow flame. Then heat oil in container, add ginger garlic paste and stir it for few minutes. Add whole gram masala and heat it for a while, add onion and sautĂŠ till it becomes golden brown. Now, add boiled white watana and chopped tomato strewn with coriander leaves Now Ragda is ready to cook.
July 2011 | The Business Enterprise 5 1
NVISION
Astrology Aries
Taurus
Gemini
After a hectic June, life definitely isn’t going to be slow in July for the Ariens. There is action aplenty in store, and only multi-tasking can save your day. However, this month will also let you think about work–life balance. Spending more time with your family will eventually improve your performance at work. All work indeed makes Arien a dull boy. This month will be highly rewarding financially and careerwise. Those in promotional activities will see increased visibility.
Dear Taurian, you’ll find partners aplenty this month. Your powers of persuasion will do you good. Opportunities for ethical additional income will crop up, stabilising a rocking boat. A business holiday will prove to be a much-needed break, deals will happen at its pace while you get your respite. This will prove to be the right time to explore your emotional priorities and understand the different philosophies in life. You may pursue higher education in a totally different field to satiate this need.
It’s party in the Gemini house as usual! July will see a steady flow of energy, which you can utilise to pursue your dreams and pet projects. The first step you take this month will aid you along in future. Resolving issues with your colleagues in the open will avoid unnecessary friction in the team. Some of you may even work out successful deals this month. Move on, let nothing stop you.
Cancer
Leo
Virgo
July is going to show your true friends. You’ll see a loyalist help you with a longterm goal. Your bosses tend to be more free-spirited and tolerant in July, yet never lose sight of your targets. Relationships with family get better, and it’s time to have fun in the sun. You will tend to be more focused on your health and fitness, and some of you may even renew that old gym membership.
July can be a highly productive month for you. You may feel that you are seldom rewarded for your efforts and performance. Well, July will see your pay day! Some of your most natural talents will win universal appreciation. You will be able to focus when it comes to creative output and will be rewarded even if you work behind the scenes. While July can have many practical benefits, personal advances are also likely. Home is your kingdom as always yet a happy work style makes life even more pleasant..
It is time to talk your mind, dear Virgo. July will see a more ambitious you at the work place. Those Virgos in the creative arts can inspire others with what they create, and will reach a more appreciative audience. Education and travel may take over this month even as you try to organise your home life. Friends and family will be supportive and you will feel more confident of handling domestic matters..
5 2 The Business Enterprise | July 2011
Libra
Scorpio
Sagittarius
Career matters take priority in your life in July. There will be opportunities aplenty to close business deals, and you will win your way to the clients’ hearts through your persuasion skills. Your home front too will be a pleasant journey. Some of you may acquire property. Job offers may come knocking at your doors or a hike in salary will come unasked for. Corporate training programmes may benefit you in the long run, so pay heed now.
This month, interactions in office can get personal. Avoid getting romantically involved with colleagues as it spells doom for your future. Also, you will find a friend who will help you understand yourself better. His/her counsel will help you execute your ideas better. Creative partnerships might be formed in July. Your financial picture improves, and those who work in corporate communication will find a ladder thrown near. Negotiations tend to work in your favour.
The last few months have seen you concentrate hard on the home front and in practical matters; it’s time to get back to your adventurous self. You might enjoy financial benefits from increased attention to work in July. This month will let you know of what really matters. Some of you might find an opportunity to work from home, or in domestic-related fields. It’s a strong month for feeling productive and valued.
Capricorn
Aquarius
Pisces
July will see an increase in your creative ventures. You are learning to express yourself completely and in the process, letting go of the fears that held you. You have a stronger ability to hold the attention of an audience. A CSR activity will help your team to get back more than what they give. In a personal level, you will pursue your goals relentlessly even while giving your best as a team player. Your confidence about pursuing your dreams is on the rise.
Your personal life tends to take over your professional life these days. It is time for you to completely relax and retreat from everything and give yourself time for self-analysis. Let July help you take the steam off; you will come back more refreshed to take on fresh challenges. You are looking for more authenticity in your associations, weeding out dealers who have been backstabbing you for sometime now. The decisions you make now in terms of partnerships will help you succeed.
You are likely to enjoy more opportunities through your previous connections this month. Chances are excellent that you will find a good confidante. You will relish success through opening up more to newer acquaintances. More focus and determination are brought to your professional goals. Business-related travel may put some of you in difficulty. You will reach more people this quarter enabling new business deals or job offers. Educational, publishing, and marketing activities will hit a high this month.
July 2011 | The Business Enterprise 5 3
VOLVE
Business
Essentials
This issue, we look into some gadgets that can make your busy life smoother. Fujifilm FinePix XP30 Camera This tough guy 14-megapixel point-and-shoot is waterproof, shockproof, and rustproof, which means it can handle any terrain—and its accompanying photography needs. The camera’s powerful sensor allows for fast shooting in all kinds of light, while built-in image stabilization features make sure you get a clear shot (even if your friend is moving around, they have tracking auto-focus). It also has a built-in GPS for geotagging your photos, so you can pinpoint exactly where you took them, allowing for easy search later or a Google mapped diary of your travels
ION iTYPE Wireless Portable Keyboard This portable candy bar–size wireless keyboard connects via Bluetooth to iPads and iPhones as well as other mobile devices and tablets, from BlackBerry and Windows Phone 7 to Android and PlayStation 3. The reducedsize QWERTY keyboard includes a stand for your iPad or other device and a leather carrying case. Don’t worry about any traffic hassles —the iTYPE will run for up to 80 hours on a single go.
5 6 The Business Enterprise | July 2011
Blackberry Playbook BlackBerry’s answer to the iPad, this solid 7-inch tablet PC skillfully toes the line between business and pleasure. It boasts of a 1GHz dual-core processor, 1GB of RAM and 16-64GB of storage, capable of powering mid-range productivity software and a wealth of custom business apps. Coupled with enterprise email support, wireless connectivity and native multitasking support, it could effectively replace your laptop. Features like 1080p high-definition video recording, dual HD cameras (suitable for impromptu videoconferencing) and built-in Flash (rich multimedia) browsing are a added bonus.
Jawbone Era With popular predecessor Jawbone Icon to contend with, this hands-free Bluetooth headset does it one better by adding motion controls. Featuring a built-in accelerometer, you can shake the device to pair it with a mobile phone, or answer calls by tapping your finger. As ever, solid noise cancellation features also make it easy to hold meetings while strolling down city streets, with high-definition audio and a 25% larger speaker further helping boost sonic clarity. Most interesting is the support for regular downloadable software updates or apps through the MyTalk platform, as developers can theoretically add an array of touch-activated features from automated note-taking to email dictation.
Magic Wand The Magic Wand is a scanner you can put in your pocket. The 10-inch long, 7.5-ounce hand-held imaging tool captures a high-quality scan of any photo, pattern or text up to 8.5 inches wide. Slide it and out comes a reasonably high-resolution, desktop-quality image of the original. No additional lighting is required. Hundreds of images can fit into the 32GB max microSD card, and scanned content can be stored to your computer via a USB connection. It’s truly magical!
July 2011 | The Business Enterprise 5 7
VOLVE
The
French in-Fluence Take a test drive of the Renault Fluence, the hautest off the Renault stable.
W
hen Renault decided to enter the Indian auto market without any domestic partnerships, they wanted to prove their worth with the product offering. After the rather plain Logan with Mahindra, the French had to give an exciting product that scores both in design and performance. And Renault Fluence aims to do just that and more. While launching the car, Mr. Marc Nassif, Managing Director, Renault India, said that Renault Fluence was designed for the Asian markets and is confident that it will not only shake up the segment but also give the Indian customer their first taste of what Renault is capable of bringing to the Indian market. There is a lot of hope riding on the car, so let’s see how the Fluence fares.
Regardez autour de – the exterior When Renault said that with Fluence, they wanted to show a different face of Renault after Logan, they couldn’t be more precise. From its head to tail, Renault Fluence exhibits the very characteristic that French are famous for, design. The car is bigger in real than the photos but not humungous. With a slanting hood that meets a sharp front, the forward profile of the Fluence makes for a sporty stance. The hood is neatly aligned with the front grille upon which the Renault logo is embedded comfortably. The small grille is placed between the sleek headlights that complete the front. On the side, there is nothing dramatic but for the beefy waistline that extends from the front wheel to the tail, rounding the rear. Wrap around tail lights corner the rear, with the logo and model name taking the centre stage. The exteriors of the Renault Fluence managed to impress 5 8 The Business Enterprise | July 2011
us without a doubt and we believe you would agree.
S’il vous plaîtvenez à – the interior While the exteriors remain mostly the same for both the petrol and diesel versions of Fluence, except for some chrome highlights, the interiors are not so forgiving. The petrol gets the better looking dual tone interiors and beige leather upholstery while the diesel is left with darker, gloomy interiors with just fabric upholstery. Space is abundant with comfortable front seats and abundant leg room and headroom. The rear seats also provide ample space with a great recline angle and under-thigh support. Headroom is restricted in the rear because of the slanting roof. The head rests in the rear are the most comfortable ones you can find in any car. The instrument panel is neat and sporty with a three-part assembly – analog tachometer to the left, digital speedometer in the centre and display to the right for other driving information. The centre dashboard features the auto climate control and audio system for petrol and air-conditioning controls and audio system for the diesel. While most of the knobs and buttons are neatly placed and easy to use, some controls are oddly placed and are low on practicality like audio and phone controls behind the steering wheel, start/stop button to the left side of centre dashboard, cruise control switch near the handbrake, bonnet release lever is in the passenger side and so on. Storage space for items like water bottles, sunglass and magazines can be found, but the tiny glove box with most of the space taken by the fuse box will not find any use.
Renault makes it up with a 530-litre boot, which can provide enough space for your family’s luggage; if you want more, the rear seats can be folded down, extending the boot space. Equipment features in the diesel and petrol variants vary vastly; the diesel comes loaded with the most basic features, while the petrol is a fully loaded version – dual zone auto climate control, cruise control and speed limiter, headlight and wiper sensors, rear parking sensors, Bluetooth connectivity, electrically foldable outside rear view mirrors, to name a few. The reason that Renault gives is that the customers who opt for diesel cars expect lower owning and running costs, hence the difference.
Prendreun tour – going for a ride Renault Fluence comes with two engine options – 2.0 L petrol and a 1.5 L diesel. The 16-valve petrol engine makes a healthy 137 PS of maximum power at 6000 rpm and 190 Nm of torque at 3700 rpm. Coming with a six-speed CVT auto transmission, the petrol engine feels sporty and responsive, working well both in high speeds and block to block dense traffic. The 1.5 L diesel engine is the one that makes duty in the Nissan Micra and Logan (Mahindra Verito) but comes with VGT (variable geometry turbo) that pumps
the maximum power to 106 PS at 4000 rpm and maximum torque of 240 Nm at 2000 rpm. Mated to a six-speed manual tranny, the diesel engine does its job without any hassle but as the rpms rise, prepare to get used to the turbo whine that will accompany you in every ride. The low-end groan of the diesel heart is also a sore point to bear with. The ride and handling of the Fluence score top grades thanks to the wonderful steering and suspension set-up. Conveying great confidence and feedback, the electronically powered steering feels light and begins to weigh as the tachometer moves towards the red marker. With the Mac Pherson sporting coil spring, stabiliser bar and double-acting shock absorber to the front and a trailing arm type with coil spring and double acting shock absorber to the rear, the suspension set-up is tweaked to provide the best-in-class ride comfort. Though not sporty, the handling of the car is firm and assures you a satisfying ride. Fitted with disc brakes, the 16” alloy wheels with 205 section tyres make for a sporty stance apart from providing plenty of grip and control.
Sûretsécurisé – safety and service Safety package for the Renault Fluence includes Anti-lock Braking System (ABS) with Brake Assist (BA) and Electronic Brake Distribution (EBD), Electronic Stability Program (ESP) and Traction control, SRS Airbags etc. Renault offers 2 + 2 years/80,000 km warranty that’s hard to beat and a 5-year 100,000 km anti-rust warranty. Un jugement Renault has made a great comeback with the Fluence, a car that rounds up well in both design and performance. With a price tag of Rs. 12.99 lakh and Rs. 14.40 lakh for its diesel and petrol versions, respectively, there is no doubt that the Renault Fluence is priced competitively. Renault has promised more variants in future according to the demands of the market, and let’s hope they do so at the earliest. Till then d’entraînement de sécurité, which just means drive safe. Au re•voir… Bala Subramaniam N
July 2011 | The Business Enterprise 5 9
NGAGE
Office humour Here’s a chance to present your colleagues with a funny award!
is hereby presented to Prabha R ___________________________ for taking serious part in depreciation of chairs and keyboards all year around. Shyam, Chennai Presented By: __________________
is hereby presented to Rakesh N ___________________________ for all those things that magically disappeared from his desk Xj, Mumbai Presented By: _____________
is hereby presented to Dinesh N ___________________________ for buttering up the boss yet getting a peanut pay. Vishal, Bengaluru Presented By: __________________
If you want to award your friend/ colleague mail us your entries @engage@theenterprisemagazine.com 6 0 The Business Enterprise | July 2011
NGAGE
Corporate diary Bangalore International Exhibition Centre by Korean Ambassador, CEO of KOCCA, Hotel Leela, IFSEC SouthDelhi India NCR Hotel Intercontinent the Lalith, Mumbai CEOs and MDs of 150 Korean and Indian 1 June to 3 Korea June 7 July Indian ICT Summit 2011 Rendezvous The IFSEC South India event is one of the MNCs from entertainment and Media 08 July international exhibitions Rendezvous Korea is being organised
The Summit will assemble the key players that deals with fire safety and security. The Industries, Academia and related Organin the information & communication technology sector – the manufacturers, and visitors from different sector of izations and Institutes. For more inforsuppliers, the intermediaries, the service tel security Leela, Kempinski, Gurgaon, India on and safety such ascomputer providers, mation aboutmaintenance the conferencecompanies, program, Security, Integrated systems and network the customers, regulators, government 7thsecurity, of JulyIT2011. “Rendezvous Korea” security,etc. The event aims to please theconsultants conference website: agenciesvisit and the - to exchange together all the from willbring provide a forum for professionals the Korean and latest information on technological the security industry tomeet together www.Korearoadshow.com. improvements, new innovative ideas, undercompanies one roof and discuss authentic trends and Indian to receive products,services and solutions. need of security as well asthe issues related security. andtofirst hand information on the state Chennai Trade Centre,
by event KOCCA of FICCI,exhibitors at Howillwith hostsupport a large numberof
SP Grand days Hotel, Panavila Junction,Trivandrum 12 June Workshop on Billionaire MindPublic set perts, Plant Managers, By Dr PP Vijayan
System
and season, Service Trivandrum, Managers, Technicians This will witness,and the prestigious ‘BillionaireMindset’ one many others from throughout the world. day workshop organized by Lifeline Foundation, Trivandrum.The focus of this workshop is to New realise,Delhi develop and Pragati Maidan, nourish a Billionairemind set in you and toExpo make you big and your goal Rivadream Schuh – set International to be a Billionaire. Dr.P.P.Vijayan (MA, Shoe Fair India 0-30 July MBA, LLM,InPhD), an internationally acclaimedMind Power trainer, author, Expo Riva Schuh is the first trade show researcher and techno management consultant would be conducting the in India entirely dedicated to footwear workshop at Trivandrum. and leatherwear. It will be held at the
Chennai Trade Centre, Chennai Chennai Trade Centre, Chennai Pragati Maidan Exhibition Centre in New Composites India Expo 2011 Srinagar, Kashmir Automotive Engineering Show 2011 Industries. The Convention would also ing Expo 17 July 17Delhi. JuneExpo - 19Riva JuneSchuh India will utilise a Conference on ‘Interest-free, institutional 10 June - 12 June to beapproach held at inChennai Automotive Engineering 2011, CIE’11 - Machine Tools &Show Engineering offer an opportunity for theinvestment’ Indian and ACCESS multi-level order to Trade provide mechanism for promoting organised by Focussed Event Management Center, Chennaifrom 17th to 19th June Thewith Indian Composites Industry willMumbai be held Chennaiprocesses, Trade & 2011. 03 June to 05 June industry to ex- Expo Korean Entertainment visitors a broad range of services Pvt Ltd, willatshowcase of the Indian and Korean Entertainment
Chennai Machine Tools & Engineer-
The Department of Business and Financial
systems and technologies or ‘enablers’ in
hasa strong and proven record of
Objective Studies (IOS), New Delhi is
first exclusive fair focusing on Automobile
are segments like Wind Energy, Consumer
and will This proveistothe be accomplishments. plore its Indian and Korean linkages. Theof Convention and experiences Major designed to help them growthdrivers Studies in collaborationwith Institute automotive Centre manufacturing. specialized and Machine Tools & Engineer- create new business Event has been divided in two sessions. aengineering opportunitiesOiland Automobile, organizing anInternationalConference vehicle manufacturing Durables,Railways, on:‘Interest-free Institutional Mechanism processes. The unique rationale of the ing show. Being hosted by Smart Expos, (Banking, Finance and Insurance) for event is very strong penetration within the Promoting Investment’while . Thispost conference automotive manufacturing region. It aims show will be attended by leading industry presentations, lunch the is expected to have distinguished scholars to connect various constituents of this rich on the bothbusiness from India and Manufacturing industry. Seize thisIndustries amazing opportunity to Managers, session is subject for onearea to one meetabroad . know the automotive world.
The morning session is for key notes and
ings. The conference would be attended
6 2 The Business Enterprise | July 2011
System Operators, Instrumentation Ex-
& Gas, Building & Construction, learn how to be more competitive ChemicalsIndustries,Piping, Cooling on Towers, Marine, etc. CIE’11 is positioned the Indian market. The event will also as premiere show which will provide anoffer unparalleled forand thewill opportunityopportunity for discussion manufacturers and distributors.
educate visitors on business practices.
Excellence to fit your
Lifestyle
foxtail Trousers, Casual & Designer Shirts
Open for Franchisee For Export and Trade Enquiries Contact Kandha Garments +91 99413 11109
20,Ground floor, Kasi arcade, 116, SirThyagaraya Road, T.Nagar, Chennai - 600 017. P : 044 42132163
NGAGE
C 1. Hi, my manager is a double-faced person. She is friendly with us and bitches about the boss to us and then takes a U-turn to pass the blame baton on us when she is asked to explain any delay. How can we help the boss understand she is basically following a ‘divide and rule’ policy? Sheeba M, New Delhi
This is a quick case for climbing the hierarchy to report to the boss’s superior on your collective discomfort. Make sure other colleagues in your department are in line with your perception and represent jointly to the superior. Keep the dialogue at the level of effects on the team and not as a personal issue.
RIB ORNER
My boss has this habit of yelling at us for no reason. He shouts at us just to prove that he is the boss and opening states that we need to be put in our place. It is demoralizing when our work doesn’t get recognised and the boss keeps complaining constantly.
It would be pertinent to confront the boss the next time he yells. A simple statement such as ‘I don’t like to be yelled at therefore could you state the issue’ softly delivered in an even tone will stop him in his track. Develop the habit of speaking your discomfort in an assertive manner every time he yells at you. Keep repeating the message ‘I don’t like to be yelled at’ in an even tone till he gets it.
Hello, I am a team lead in a consulting company. My issue is that one of my team members is a pessimist, she keeps cribbing about her work environment day in and out, finally impacting the work done. How do I handle such pessimism? Archana Devi, Chennai
I have been working with a German manager for three months now. My problem is that she has a deep prejudice about Indians and believes that we are not capable of handling major projects. She keeps outsourcing projects to other countries. Despite a good track record, my team has not been given even a single new project till date. How do we get her to believe in us?
Some people are born pessimistic; they draw energy from seeing things in a negative way. One antidote for pessimist remarks would be to state the positive aspects of the issue at hand. Overload this person with positivities every time a negative or pessimistic statement is made. Over a period of time, she may reduce her cribbing.
Get your team to rally around and meet her with specific records of your individual and collective achievements. Align the importance of growing on projects internally and iterate how outsourcing can affect opportunities for growth from within. Also, diplomatically indicate that there would be exits if prime projects are not given to the team.
J X Gregory The columnist is Founder-Director, SAGA Consulting. He is a Management graduate from XLRI-Jamshedpur’81 with over 30 years of experience in HR, Change Management and Consulting. His work during the last 15 years in competence mapping saw him profiling over 4000 middle and senior management employees and in coaching them for higher responsibilities and leadership. Mail your queries to engage@ theenterprisemagazine.com
6 4 The Business Enterprise | July 2011
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What the
future beholds? Chennai-based mystic Mr. Muthukrishnan has ventured to demystify one of the most revered Hindu symbol – the Sri Chakra. While this ritualistic symbol has been used for meditation for years, this Chennaiite is the first in the world to use its power to make predictions. Mr. Muthukrishnan shot into fame when he unraveled that the base triangles in the Egyptian pyramids are equal to the angular measurements in the Sri Chakra. His study further verifies the fact that the ancient civilization had a common repertoire of cosmic knowledge. Mr. Muthukrishnan has made used of measurements worked out by famous Egyptologist Piazzi Smyth is his 1880 study. He says that the pyramid of Giza was designed to utilize the sun’s rays for beneficial purpose. They are believed to have been used for healing purpose for the royal kings and queens and even for royal woman in labour to influence the future of the royal kin. He claims that through years of research he can similarly use the cosmic energy of the Sri Chakra for beneficial purpose of individuals. Art meets science This mystic has also mastered the cosmic art through anthrobiometry . He uses art to connect the cosmic energy of the individual with that of the universe and in the process, removes disruptive energies, if any. When the paintings are not customized to the individual, they can simply be used to harmonise the energy of the universe with cosmic energy of the place where the painting is hung. From Jain symbols to Pentagrams, he has made an attempt to demystify the cosmic power of ancient art and utilizes the same to benefit his corporate customers. Several entrepreneurs who have taken his advise bear testimony to the force of this art form. The cosmic drawings are done using one or more artists who have been selected according to the anthro biometric science.
Anthro biometric system for the CEOs Mr. Muthukrishnan claims that a person’s life can have four periods – Gold, Silver, Copper and Carbon. He says that through extensive research and experimentation, he can use the cosmic system to find out the Golden Period (Silver with Gold) of any individual. An individual say a politician or business man can enjoy 75 per cent of the Golden Period (Silver with Gold) definitely. He says this is possible through using art, counseling and other accessories. He says a person who can get up to 25 percent benefits from this period normally can get almost 100 percent by utilizing the cosmic energy properly. Problem Period (Copper and carbon) Problem period (Copper and Carbon) of an ordinary human can be determined seven years ahead. It affects ordinary human beings at a 100 per cent even resulting in business failures, political change and many other problems. He assures that this problem period can be averted if the cosmic energy is controlled and used properly with the help of art and counseling. He has in fact predicted the problems that Laxmi Mittal will face in his company much earlier. The Egyptian code Now, Mr. Muthukrishnan has summarized his life-time research through a book ‘The Egyptian Code - The Secret Code used by Pharaohs that can turn small businesses into empires’. He says that even he cannot predict or influence the future by 100 percent but claims that his success rate is near 70 percent. He hopes that he can utilize this ancient knowledge for the common good and continues to experiment in understanding the influence of cosmic force on human beings. Website address: www.theegyptiancode.com / Official website: www.anthrobiometric.com / Email: pentagram500@gmail.com
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Your Next step Opportunity knocks every month
IT(Software, Dotcom, Infra.Mgmt.& UI Design) Recruiter Ventures HRD Centre Pvt Ltd Hyderbad and Bangalore, 0-1 Years: Desired candidate would be responsible for taking care of end to end recruitment and all necessary reports and documents. Freshers can apply. Shine Job Id - 272257
Business Development Executive Trendsetterz Uttar Pradesh, 0-2 Years: Candidate must be presentable fresher / experienced with good communication skills and Knowledge of IT sectors.Candidates with own vehicle will be preferred. Shine Job Id - 290243
Marketing Executive Softaculous Ltd. Mumbai-Thane, 0-1 Years: Candidate must have knowledge about online marketing, e-mail marketing and accounts. Good communication skills and fluency in english is must. Shine Job Id - 271278
Sales Executive Brahmam Technologies Delhi-NCR, 0-1 Years: Desired candidate with good communications skills,well networked and can travel with in Delhi/NCR region.Fresher - who has flair for sales and interested in selling software solutions will be preferred. Shine Job Id - 289869
Marketing Executive S.A.B Solutions Delhi-NCR , 0 Years: Required MBA candidates,fresher as well as experienced for marketing in Delhi. Shine Job Id - 296886 Customer Relationship Executive Deepraj Software Services Pvt. Ltd. Delhi-NCR, 3 Years: Desired female candidates with excellent communication skills,MBA freshers will do.Good convincing skills,smart and talkative will be preferred. Shine Job Id - 296116
6 8 The Business Enterprise | July 2011
Management Trainee-Marketing Microx Solutions Delhi-NCR, 0-<1 Years: Required MBA freshers with excellent communication,pleasing personality and an ability to work alone with Initiative.Training will be provided to freshers. Shine Job Id - 302843 HR Trainee Spider Infomedia Chennai, 0 Years: Required female candidates pursuing MBA with good communication and sourcing skills for assisting HR activities in all aspects to HR manager. Shine Job Id - 265786
Banking, NBFS, Insurance and Accounting Accounts Executive S.Ravindra and Associates Bangalore, 0-1 Years: Candidate must be good in Ms Office, Tally and have full knowledge of accounting. Must possess good communication skills. Shine Job Id - 294461 Insurance Manager A Client Of Prism Placements Pvt Ltd Hyderabad, 2-3 Year: Candiate should be an MBA with 2-3 years work experience in wealth mgmt.products.Must have outstanding communcation skills and be able to sell wealth mgmt. products like insurance, mutual funds. Shine Job Id - 263686
Recruitment Services and Staffing Business Development Executive Meru Consultants & Technologies Pvt.Ltd Chennai, 0-2 Years: Candidate would be responsible for marketing /business development for Meruâ&#x20AC;&#x2122;s technology across India.This position involves travelling once in 3 months. Shine Job Id - 300936
Management Consulting HR Executive A client of Omam Consultants Pvt. Ltd Mumbai-Thane, 1-2 Years: Candidate required with experience in handling tough stakeholders.People with an MBA degree with 1-2 years work experience in a service organisation. Shine Job Id - 285489 HR Executive Minds Direct Business Solutions Bangalore, 0-1 Years: Candidate should be able to sign a training agreement for 2 years,should possess good knowledge in HR,excellent communication skills, good logical & analytical skills.Fresher as well as people with 1 to 2 years experience can apply. Shine Job Id - 286313
July 2011 | The Business Enterprise 6 9
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60 Seconds Itâ&#x20AC;&#x2122;s your take on food, shopping, movies, books and life! SHOP Fenesta Building Systems opened up at Begumpet. The new showroom located above the Sony Centre has this entire range of Fenesta Windows including sliders, casements, tilt and turn, bays and combination windows. If you are looking at dressing up your windows, this is the place to be. - Bhargavi J, Bengaluru
RATING
3.5
SCOOP Cars 2 Even with its heavy usage of 3D, this animated exercise has an inexplicable Bondish storyline that should baffle young ones as much as it irritates their parents. It looks like a Pixar movie yet doesnâ&#x20AC;&#x2122;t feel like one!. - Vinay M, Hyderabad
RATING
7 0 The Business Enterprise | July 2011
2.5
5
5
SCAN Natural Selection: Choosing Boys Over Girls and the Consequences of a World Full of Men - By Mara Hvistendahl, Mara Hvistendahl is worried about our girls. No, it is not a feminist quest but a natural worry about their very existence. She is right to be. In India, there are 112 boys born for every 100 girls, the result of systematic campaigns against baby girls. In “Unnatural Selection,”, Ms. Hvistendahl reports on this gender imbalance: what it is, how it came to be and what it means for the future. - Kiran R, Mumbai
RATING
3.5
5
SLURP Kipling Café, wins hands down for the ambience! This outdoor café with thatched huts and pristine white curtains and tall bamboo plants which act as dividers between each table, is an oasis! I was quiet impressed with the service and the menu. The pizza is definitely the best at Kipling Café. They serve thin crust pizzas and I was told by the service staff that the ingredients are imported, and this includes the mozzarella cheese! I couldn’t try the continental menu, but the Thai menu which include Pad Thai noodles, Red Curry Chicken, Satay were a delight. I liked the Tiramisu and the panacotta, which were great. The pricing is steep, but when you look at the experience, it’s worth every penny. Oh, on Fridays, a live band plays! - Jayanthi Somasundaram, Chennai
RATING
4
5
SNAP Life at my own pace
- Arul Anand, Photographer, Hindu, Chennai
RATING
4
5
Corporate employees can mail us crisp reviews at 60seconds@ theenterprisemagazine.com on or before July 20, 2011. For Please mention your full name, designation and company information for publication. July 2011 | The Business Enterprise 7 1
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Brand-ish Knotty affair
Name this product, give it a tag line and win exciting prizes. Winning entry for last issue: Solemate- Head over heals in love - Raghav, Bengaluru
Other interesting entries include: D’sire - your style statement , Rishab, Delhi Cindrella - For twinkle toes, Veena M, Mumbai
Mess up Tell us the story of how you messed up in an interview or how your candidate lost his mind during an interview, the best story gets a corporate gift. I work for a telecom company and this guy had come for a customer service executive interview. The candidate got his companies confused and repeatedly mentioned the strengths of our competing firm, thinking that’s who he was interviewing with. We had our laugh and he obviously lost his job. Hope he lands up with a good job with our competitor. - Sheena George, Mumbai
Congratulations!
Mail your entries (within 30 words) to engage@theenterprisemagazine.com with ‘contest ‘in the subject line on or before July 15, 2011. 7 2 The Business Enterprise | July 2011
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7 4 The Business Enterprise | July 2011
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