Wednesday, December 12, 2012

Missing the Ambani touch?

The venture was flawed from the beginning in more ways than one

The Indian retail sector has grown at a stupendous rate and is touted to touch $450 billion by 2015 (as per McKinsey). At that rate, it is not surprising how major business houses have made inroads into the sector. But the chequered journey of Mukesh Ambani’s Reliance Retail in this sector merits analysis.

It was the winter of 2006 when Ambani announced the arrival of his Rs.250 billion retail gamble – Reliance Fresh convenience stores in India. Reliance Fresh had to face the wrath of all be it middlemen, small retailers or politicians. The company had to shut down shops across the country amidst vehement protests. Gibson Vedamani, ex-CEO, Retailers’ Association of India points, “Reliance Fresh failed because it was too aggressive with its strategies and wanted to capture the entire market without leaving any space for the middlemen and local retailers.” The company planned a number of formats viz. hypermarkets, supermarkets, convenience stores & specialty stores. This attracted unwanted media attention & got them into trouble.

With the looming spectre of economic slowdown, Reliance has had to cut down severely on its expansions. It merged the management of its hypermarkets, supermarkets and convenience stores last year to save on administrative, man-power and operational costs. However, the biggest blow came earlier this year, when Ambani, after deferring the launch of its wholesale market, finally scrapped its cash & carry (C&C) model and showed the door to the entire team of 36 professionals headed by Harsh Bahadur (erstwhile CEO of Metro AG’s C&C business in India).


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Posted by IIPM : Global B School in India at 2:32 PM
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Monday, December 10, 2012

Small package...

...but is the Tata Nano actually going to be a good thing for Tata Motors? The answer to that question is littered with ‘ifs’ and ‘buts’

How expensive (oops, cheap) is Tata Nano? Well, it’s as ‘expensive’ as a CD player fitted into the ultra luxurious Lexus. So, for a Lexus-owner, Tata Nano may just appear to be a toy, but for Ratan Tata and millions of Indians, Nano personifies their reveries – Ratan Tata’s dream to manufacture the world’s cheapest car, and the hope of millions of Indians who always aspired to own and drive a four-wheeler. Though the people’s car was launched on March 23, 2009, it is expected that bookings would commence only by the second week of April. If you thought that manufacturing the world’s cheapest car was the most daunting task, then think again, for achieving break-even looks even more daunting.

As if ominously, Tata Motors suffered a net loss of Rs.2.63 billion for the quarter ending December 2008 – a dreadful decline by 152%. The earning per share (EPS), too, went down to a negative Rs.5.51 per share for the quarter from a healthy Rs.12.95 yoy. Its arch rivals Maruti Suzuki and Hyundai Motors posted healthy numbers at a time when Tata Motors saw a fall of 19% in total sales for the month of February. Will Tata Nano indeed be their saving grace?

At the risk of being daring, the answer to the above question, with a short term perspective, is a big NO! Tata Motors has already invested over Rs.20 billion in the Nano project so far. Although the car would be rolled out in June 2009, it won’t be sooner than 2011 that the company can ‘hope’ to start making profits out of this car. Reason: Nano is a low cost, low-margin car and therefore the company will have to rely on huge volumes to pump in profitability. However, since the manufacturing plant in Gujarat is not ready at the moment, it would be difficult to manufacture more than 3,000-4,000 cars per month initially. “We estimate Tata Motors to sell 50,000 units and 1,50,000 units of Nano in FY’10 and FY’11, respectively. Assuming realisation of Rs.1,00,000 per unit, it will add just Rs.5 billion and Rs.150 billion to the company’s sales in FY ’10 (E) and FY ’11(E) respectively, which is not very significant considering the size of Tata Motors,” points out Vaishali Jajoo, Senior Research Analyst, Angel Broking. So despite the hype that Nano is generating, it would end up spilling more red ink on the balance sheet of Tata Motors in the short run. Trade pundits have predicted that Tata Motors will have to sell at least four to five million cars to break even and make profit. Considering Nano’s rate of production, Tata Motors will be able to reach this figure only by the sixth year of operation, i.e. FY’15. Even the Nano Europa, the European version of Nano, will not be launched before 2011.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

For More IIPM Info, Visit below mentioned IIPM articles.

Posted by IIPM : Global B School in India at 12:40 PM
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Saturday, December 8, 2012

Thank you John, for being gone!

John Mulcahy got Suncorp into a mess that’ll take some time to clean...

March 2, 2009, marked the last day in office for the chief architect of the much-discussed ‘failed’ A$7.9 billion Promina acquisition – John Mulcahy, former MD & CEO, Suncorp-Metway. His exit was rather a forced one, voted out of office by the shareholders, soon after the successful completion of capital raising activity worth a huge A$900 million! Bidding adieu to Mulcahy, another John in the story, John Story, Chairman, Suncorp (that’s his name, we’re serious!) asserts, “John has made an outstanding contribution, building a far more diversified and resilient business than existed when he joined six years ago.” Considering the rising bad debts (pegged at A$335 million), declining profits (net profit for H2, 2008, was A$258 million, down by 32.8% YoY), share price fall (which stood at A$4.50 as on March 2, 2009; 38% down from its last traded price), we don’t really agree with that ‘single dry line of praise’!


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

For More IIPM Info, Visit below mentioned IIPM articles.

Posted by IIPM : Global B School in India at 10:12 AM
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Friday, December 7, 2012

Does Shoppers Stop have it within them to fight the slowdown?

Can Shoppers Stop do it? Does Shoppers Stop have it within them to fight the slowdown and one day become India’s answer to WalMart? angshuman paul investigates...

Think about it... For decades, the only option for a godforsaken departmental store that Indians ever had was the nightmare of a shopping excuse called Super Bazaar! And if you’re one of the teeming wastrel dozens who had their penny-wise romantic interludes in the generation spanning Kendriya Bhandar, none the better. Come 1991, and Nagesh became the Salvador Dali of shopping, romanticising the art for Indians in a way they felt was alien, yet enslavingly addictive. If the ‘91 inaugural Andheri store started in an upstreet Linking Road in Mumbai smoked the intent, the Ansal’s Plaza outlet in New Delhi went the full figurative blast. From one store in 1991 to 36 in 2009 (and 51 CrossWords, 3 HyperCity Marts), Nagesh, and Shoppers Stop, had arrived! But like I said, till the last year.

The numb’ers

For eighteen straight years, Nagesh has intently focused on growing Shoppers Stop’s geographical reach. And the impact has been frivolously brilliant, especially in terms of revenues. Look at just the last five years. From Rs.3,448 million turnover in FY 03-04, Shoppers Stop jumped 27% to Rs.4,411 million in FY 04-05. The next year was brilliantly more fantastic. A super growth of 42% made revenues shoot up to Rs.6,228 million in FY 05-06. With Rs.8,123 million in FY 06-07 (30%) and Rs.10,799 million in FY 07-08 (32%), Nagesh commandingly was traversing the upper crust. But both MD Nagesh and CEO Govind knew the warning signs were already there. With three quarters of this year giving Rs.9,606.6 million turnover, replicating last year’s growth might not be possible at all; though all indications are that they will surely beat last year’s revenue figures.

It’s quite ironical then that the year in which Shoppers Stop has reached the historical high grandstand of its revenues, is the same year that has perchance been the worst for it during the past decade. Even before the start of the year, the last quarter of the previous year had given them Rs.25.6 million loss (net after taxes). If that looked only trite figurative or bookish, the next quarter made its intentions clear. A mammoth Rs.256 million loss. The third quarter of the year ending September 2008 was the movie 300 in action; a bloodbath of Rs.496.7 million loss. Fourth quarter ending December 2008 gave another loss of Rs.32.6 million.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Posted by IIPM : Global B School in India at 1:44 PM
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Thursday, December 6, 2012

STEEL: SECTOR REPORT

As the government relents, steel players must get their house in order

However, in the last quarter, steel prices again fell by almost 20%, as the Government imposed a 5% import duty on steel products. According to Pawan Burde, steel analyst, Angel Broking, “Government is trying to control the falling steel prices by giving various sops to the steel sector.” The Government of India has now allowed all the withdrawn benefits and announced a 4% cut in central excise duty on steel production. Also, exporters will again be entitled to enjoy the tax benefits under the DEPB scheme. Also, the steel industry took certain measures on its own to maintain balance in the inventory. Says an analyst, “Various steel companies reduced their production by 15-20% in the last quarter. This helped in reducing production costs and prevented inventory imbalances.” Reduction in production has helped bridge the demand-supply gap. Where on one hand, the domestic steel market has stabilised; exports have also picked up in the last quarter. Iron ore exports reached 13.5 million tonnes in December 2008 as opposed to 9.8 million tonnes exported last year (an increase of 37.75%).

As the tables have turned in the favour of steel players, the Indian steel sector, in order to further augment their growth, has taken certain measures. For starters, the Indian steel players have announced that they will refrain from further price-cuts as demand in the domestic market has marginally revived. Furthermore, steel companies have also demanded that more liquidity should be injected in the system to enhance demand from key sectors such as automotive and construction. Adds Burde, “Steel players have also demanded that import duty may be increased from current 5% to 15%.”

From Rs.50,000 per tonne in March 2008, steel prices have fallen to Rs.30,000 per tonne at the start of this year. But as things start taking a favourable shape, it is expected that 2009 will bring some respite. While the Government should make sure that the economic slowdown in the country should not impact the automotive and construction sector; steel players on the other hand should balance their inventories, refrain from further price cuts and seek to augment their exports. 


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

For More IIPM Info, Visit below mentioned IIPM articles.

Posted by IIPM : Global B School in India at 11:58 AM
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Tuesday, December 4, 2012

Damn you slumdog billionaires...

Have you ever heard of much wealthy people being called the poorest?

We couldn’t get it. In fact, we haven’t got it for the past few years, having tried to unravel the idiotic paradox. And we bet that though you are well aware of it, you still accept it as a matter in the nature of natural history. Enough said. The issue in question is, of course, Africa! What takes our goat is that though Africa is supposed to be the centre of the world enriched with a bounty of natural resources, yet, most unfortunately, not only has it become the conflict zone of the world, but it also has refused to be advantaged from its humongous resources over the past so many centuries. That is the statistical fallacy that modern day capitalism has not been able to solve.

With abundant oil, natural gas, timber, cocoa, diamond, gold and more, to say Africa is a rich continent is a fool’s statement. Africa produces 46% chromium, 48% diamonds, and 48% platinum of the world. The US EIA data revealed that natural gas production in Africa is estimated to rise from 5.1 trillion cubic feet to 18.5 tcf by 2010. Sub-Sahara has 7% of the world’s oil reserves. It is home to some of biggest global exporters including Nigeria, Angola, Congo, Cameroon, Chad, and Sudan.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

For More IIPM Info, Visit below mentioned IIPM articles.

Posted by IIPM : Global B School in India at 12:21 PM
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Monday, December 3, 2012

Sacrifice your mid-day nap, please!

Policymakers need to wake up to the education system crisis...

Felix E. Schelling once quoted – ‘True education makes for inequality’, and perhaps rightly so. But today, many countries are too busy with their own political and social issues, such that the contemptible state of education and consequently the exacerbating chasm between the rich and the poor in their own country gets no attention!

The developing countries are the worst victims of such illiteracy driven inequality. Vietnam allocates a miserly 16.2% of its budget to University education and ridiculously, as per the Minister of Education, this problem can only be solved with an “increase in tuition fees”, which will evidently prove a blow to the poor community. In Turkey, only a pathetic 2.6% of infants aged three and four attend school, while the same percentage in more than 50% of other OECD countries stands at a tall 70% or more! In Bulgaria, statistics prove that only 30% of the students succeed in pursuing education beyond the age of 5, and also that education in English Medium is a rarity in the country.


Source : IIPM Editorial, 2012.An Initiative of IIPM, Malay Chaudhuri

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Posted by IIPM : Global B School in India at 11:44 AM
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Saturday, December 1, 2012

Murder if you love mankind!

Really, that’s what powerful nations have taught us... Kill the innocent!

‘Shock and Awe’ – these are the two words to describe the ravenous manner in which the United States Air Force (USAF) bombed Baghdad’s administrative and government buildings with amazing precision during the summer of 2003. Yes, the American juggernaut was flexing its muscles on a helpless and an economically skinny Iraq, and the world needed no other Hollywood thriller to entertain them on their television sets for the weekend! So what was the scale at which Iraq committed a crime for which it was being granted capital punishment, free of cost and free of request? What justified the fact that Uncle Sam’s educated and well trained fighters knocked life out of thousands of Iraqis with bullets and shells from the skies? The answer: one man – Saddam Hussein.

The allegation against him was that he had enough weapons of mass destruction that could pose a serious threat to peace and security in the world. Well, if you thought that the punishment to millions wasn’t worth the ‘allegation’ against one man, then you’re probably right.


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 10:35 AM
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Friday, November 30, 2012

Hola barcelona

Aesthetic monuments, incredible architecture and friendly people... a city with one of the oldest, most unique histories blended with exquisiteness of its impressive culture... Barcelona, the second-largest city of Spain and one of the world’s most popular travel destinations has it all. In fact, Barcelona has two distinct faces. One being that of a fast-pacing metropolis and the other of a rich cultural heritage. Legend has it that the city was built by Hercules before building Rome, and later rebuilt by Carthaginian Hamilcar Barca, Hannibal’s father who named it Barcino after his family name in the 3rd century.

Nestled between the Collserola Hills to the north and the Mediterranean Sea to the south, Barcelona has a Mediterranean climate with mild, humid winters and warm, dry summers. Barcelona has many architectural marvels dating back to the medieval times. One of them is the still unfinished church of Sagrada Familia. A work of Antoni Gaudi, it has been under construction since 1882 and is expected to be completed by 2026, the 100th death anniversary of Gaudi which makes it one of the most sought after tourist hotspots in Spain. Some other Gaudi works include Park Guell, Palau Guell and Casa Mila, all declared World Heritage sites in 1984.

Barcelona is also famous for its belief in sports, especially football, and has been host to numerous sporting events like the 1982 Football World Club. Lovers of the sport visiting FC Barcelona, a famous sports club with a seating capacity of 1,00,000 can shop for sports memorabilia of their favourite teams at the shops in and around the stadium which sell footballs autographed by noted players and t-shirts with the player’s names written across. Expectedly, the original autographed footballs and t-shirts would be rather expensive than what you might expect and there is no scope for bargaining!


Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.
Posted by IIPM : Global B School in India at 12:32 PM
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Wednesday, November 28, 2012

Shares his thoughts on Creative Capitalism & Infosys’

Kris Gopalakrishnan, CEO, Infosys, shares his thoughts on Creative Capitalism & Infosys’ social initiatives in this exclusive interview with Priyanka Rajpal of B&E

Q: Kindly share Infosys’ initiatives on these lines.
KG: Creative Capitalism is an evolving concept and we are keenly following its evolution. We like to consider some of our initiatives in education a part of Creative Capitalism – namely the Special Training Program (STP) program and Project Genesis. The STP enables unemployed graduates and post-graduates in technical streams from disadvantaged socio-economic backgrounds to compete on an equal footing in the job market. Likewise, Project Genesis helps students from tier 2 and tier 3 towns to hone their skills to match the requirements of the BPO industry. These programs are run in collaboration with universities and the government. It is implemented as a consortium with Infosys, E&R Campus Connect team/Infosys BPO team, state and central Governments, academia partners, and other industry/corporate partners. The program is aimed at unemployed engineering graduates.

They are trained not only in technical areas, but more importantly, are groomed holistically through personality development programs that address their self-confidence, life skills, proficiency in English and process and quality-related orientation. Post the training, Infosys/IBPO and other IT/ITeS companies conducts job fairs where these students are placed or can seeks jobs with the best employers in the industry.
Genesis has similar programs, but is directed towards graduates in subjects other than engineering for employment in BPO-based businesses. In addition, it has extended the program to cater to physically-challenged individuals as well. Not only do these programs help students develop their skills, but at the same time, they create opportunities by bridging the employment gap in urban and rural India; bringing more people into the fold of capitalism and making it more inclusive.

B&E: According to you, what is the difference between Creative capitalism and CSR?
KG: Both as individuals and as companies, we have a responsibility towards society to help those less fortunate than ourselves. Corporate Social Responsibility is a form of responsible philanthropy. It involves organizations assessing their impact on and benefit derived from society. This must also be accompanied by organizations striving to improve the quality of life of those that exist in the societies within which they operate. Infosys is keenly aware of its social obligations and has established the Infosys Foundation as the execution arm of the company’s efforts towards this end. In healthcare and education, Infosys Foundation has contributed to the construction of hospital wards, made donations of advanced equipment, organized health camps and distributed medicines to underprivileged sections of society. The Infosys super-specialty section at the Sassoon Hospital in rural Pune is a case in point. This caters mainly to underprivileged patients with little or no access to good-quality medical treatment.

The Infosys Foundation also supports several schools in under-developed areas and has created a number of free public libraries. The Education and Research group conducts the Infosys Extension Program which includes programs that reach out to students in rural areas right from class 5 up to the level of research work leading to a PhD. It focuses on providing students exposure to computer training and educating them about the opportunities that are available to them for career progression.

Creative capitalism, in many ways, is an evolution of CSR. To put it figuratively, CSR aims to provide fish to feed the hungry; Creative Capitalism aims to teach the needy how to fish, thereby securing their future. It’s about making Capitalism – the essential philosophy of profit-generation, more socially responsible, equitable and sustainable. It’s about shaping the future and creating avenues for development, while also addressing the needs of the underprivileged sections of society.


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 2:28 PM
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Tuesday, November 27, 2012

IRDA: INSURANCE REFORM

Allowing insurance companies to park investors’ money in VC funds will jeopardise their future

Performance of VC funds has always been under scanner. Kalpana Jain, Senior Director, Deloitte India (for those who do not know, Deloitte handles more than 50% of the PE deals worldwide) avers to B&E, “Only three out of every 10 PE deals turn out to be a success.” On the other hand International Finance Corporation in one of its working papers titled, ‘Commercial Discipline for Development Impact’ has mentioned, “Even well-performing private equity funds tend to have only 10%-20% winners.” That simply means when insurers will put investors’ money in VC funds, they will actually be betting on a less than 30% success ratio. So, now on investors must keep their fingers crossed while paying premium for the safety of their future.

However, supporters of IRDA may argue that the regulator has not allowed insurers to put in a large share of the investors money in VC funds. But then, when the government and the regulator are moving forward together to bring in the much needed reform in the sector, what makes them allow to experiment in an area where they cannot go big even in the future. This may be considered as a step taken by the regulator to add some momentum to the flow of funds. However, quite sceptical about it Prashant avers, “This will not have an immediate impact on fund flow as the customer does not understand this asset class fully as they have not been much exposed to it.” Thus even this purpose of IRDA is not going to be fulfilled with the step taken. Better than that IRDA must allow insurers to venture into other asset classes where they can invest higher amounts and still keep the investors money safe. Else, the healthy looking tan will soon engulf his future turning out to be a deadly cancer for the industry.


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 2:43 PM
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Monday, November 26, 2012

OIL DRILLING: DEMS VERSUS REPUBLICANS

Obama encourages the formation of this team to debate US oil drilling

By government’s own admission, 18 billion barrels of crude remain untapped in America’s restricted hinterland. Yes, the Democrats claim they do not want to be stooges of oil behemoths, about which they often blame the Republicans. But beyond this, is the fact that there is little chance of cutting down on oil prices even if such drilling were allowed. Firstly, the actual output will take more than a decade to flow, and the cost is colossus. Secondly, America in all has only 3% of world’s oil reserves, whereas annaully it consumes 20% – another reason why, as the Dems argue, drilling might not influence the price of oil. On the other hand, Republican’s have a meaty issue for their flagging electoral cause. The gasoline price rise is hurting the US middle class, and this issue has got an immediate media attention, with Democrats on the defensive. Notwithstanding reality, studies now reveal that nearly half of the electorate believes in the fact that oil prices will subside if crude is drilled in their own country. Didn’t we tell you Obama is the bright spot in Dem county?


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 1:49 PM
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Friday, November 23, 2012

Dial ‘C’...

..for ‘Cell’...a cancer cell!

As far as the accounts of history go, I don’t think that man has ever been more conscious about his health than he is today. This is to the extent, that if breathing wasn’t ‘it’, by now books like ‘10 ways to keep away from breathing on highways’ would have hit the bookstores.

So, for a change, there is another habit (not reflexive like breathing) that has hooked human beings of all shapes, sizes and attitudes – much more dangerous and addictive than the banal smoking – talking on mobile phones. Well, not that we weren’t aware that it could be harmful for the ears etc., but that it can cause malignant tumours in the brain in much lesser time than you could have imagined is but horrifying.

The results of a 14-month investigation by the Canberra-based top Neurosurgeon, Vini G Khurana, has got the world to rethink its way of living. In his report, he gives enough evidences to warn the governments, telecom industry and the users about the deadly effects of simultaneous electro-magnetic exposure caused by the radiations released from radio and TV towers, cordless phone base stations, wireless etc. The report clearly establishes link between long-term usage of mobile phones and some malignant forms of tumours in the brain. Unfortunately, this ‘long-term’ isn’t that long! Ten years is the time-period within which the cancerous growth may show up, making it an even bigger threat than smoking and asbestos, where the effects show up after a certain age.

Professor Challis, an experts on mobile phone radiation has enlightened the media by revealing that about 40% of the radio energy of the mobile or wireless phone is absorbed into one’s head. The exposure caused by mobile phone is 200 times more than sending an email using wi-fi technology. “The risk is even larger in children than in adults since their brain is still growing and the skull is thin. In fact, anybody using mobile phone for two hours everyday for a year is quite prone to catching an ailment in the next five to seven years,” tells Dr. Pankaj Kumar Jha, a practicing Neurosurgeon.


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 1:24 PM
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Thursday, November 22, 2012

We thought only Elvis was doped

Argentina’s government grows bizarre; inflation, as per them, rocks!

Argentina is bleeding. The sky rocketing inflation is neutralising whatever benefit the high growth rate is giving its population. But surprisingly, to counter this problem, the government has taken bizarre steps to satisfy its electorates. It has doctored Consumer Price Index (CPI) to show inflation lower than what it actually is. The updated CPI (June 10, 2008) shows that each time the price of any product increases too much, it will be taken out from the list presuming that consumers will shift to other products. According to government statistics, inflation is just around 9%, whereas the real figure is terribly higher.

Alfonso Prat-Gay, former Central Bank Governor, estimates the inflation figure to be hovering around a whopping 32%. Dante Sica, Director of Abaceb, a consulting firm, opines that the figure would be 16% to 18%, while Poliarquia, a pollster, reveals the figure was 54% in February and 26% in May, 2008.
 
 
Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 1:29 PM
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Wednesday, November 21, 2012

Talking is dumb

Talking is dumb

It’s hilarious! While the NATO and US keep on accusing Pakistan for not being proactive and strong enough for anti-terrorism activities in Afghanistan and even in Pakistan; Pakistan blames Afghans for the same.

Despite their being many well-staged ‘peace’ talks between Pakistani and Taliban militants, and agreements being signed by Pakistan and the North Western Swat Valley, and even talks with pro-Taliban rebels in tribal groups around Afghanistan, there has been a sizeable death of NATO members and soldiers in Afghanistan. There have been numerous examples when the US led coalition and Afghan policemen have been killed during attacks. Militant attacks have only risen over the past few years at the Afghanistan-Pakistan border.


Source : IIPM Editorial, 2012.

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Posted by IIPM : Global B School in India at 12:03 PM
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