“I do not yet know of a man who became a leader as a result of having undergone a leadership course”… …..Lee Yuan Kew

Leaders are iconoclasts; leaders are charismatic;
leaders are willing to the pay the price of conviction – Gandhiji did; leaders are
courageous people; leaders have big heart; leaders have strategic vision – they
can see what is beyond today.
Leadership is not a inherent quality or ingrained, it’s more of a skill which one
develops over a period of time by experience, observing others and learning by
oneself.

Nonetheless, experience has shown that leaders of successful organizations are disinclined to
change things if they are remotely successful. Few individuals or corporations
have managed to change successfully; even fewer have done so repeatedly.

Does this mean leadership courses are ineffective?

It is doubtful if a course can create these qualities. Courses can make, of course,
better managers, but doubt whether they create true leaders.

At the same time, it is the classic “born vs made” issue. At some level perhaps
this comment applies to a very select few of inspirational leaders. Some of these
leaders are a product of their environment, and succeed in them. For the vast
majority it is a skill, self learned by mindful attention to on the job experiences,
job challenges, and all of the external environment. Other than that, we know
that some help from friends, bosses, mentors, and Coaches can go a long way in making a leader to go from good to great.

Brick and Mortar Store is Dead; Long Live Brick and Mortar Store

A few weeks ago I was looking for a CD of nursery rhymes for my three year old granddaughter. Since I live in south Delhi, I thought of a leading consumer electronic store in South Extension – I have known its owner for the past 40 odd years. However, I was taken aback by its barren look as soon as I made an entry. This visit was after a lapse of over a year. Once famous for its merchandise of leading consumer electronic brands, excellent demonstration and display, choicest of music albums and accessories, now the store wore a stark, deserted look… with hardly any footfall and activity that one got to see during weekends in a popular shop. What had changed suddenly? Upon enquiry, I was told that it was due to the advent of e-commerce that this age old business model had transformed completely. The convenience of on-line purchase rendered the fate of this brick and mortar store of consumer electronics goods vulnerable.
Today customers go to Croma or other similar stores, choose the model and their price and later order online at Flipkart and other e-commerce sites. The product gets delivered at the doorsteps, and on top of it, it comes with at a hefty discount. Music albums are downloaded online, said the owner. The e-commerce giants are targeting the comfort and convenience of the buyers in the marketplace and digging a deep hole in the pockets of the brick and mortar retailers.

The only choice now for the brick and mortar stores is to take their products to customers via online portals and remain relevant to the market place in order to survive. But it results in thin operating margins. A small back office is enough to maintain the level of such operations. Therefore, the stores like this brick and mortar consumer electronics items which have existed since long, have to meet high overhead expenses and bear the burden of maintaining loyal employees who have served them for 40 years or more. Several of these stores are looking for other ways to get out of their core businesses and investing in other areas of business where online retail is unable to make any impact. These could be the niche areas such as designer clothing, expensive jewellery and watches outlets or even food joints. In the event of all such brick and mortar stores divert their attention, how would a customer ever get to physically see, touch, have a feel and view performances of items before buying, especially when the product is not a commodity? Will it be like having a shower with a shower cap on? Or what happens when a customer who wishes to replace an old refrigerator? Does he first sell the old one on OLX and then order a new one on Fliipkart? Perhaps that is the way today.

The concept of e-commerce or retail commerce is a new business model. It creates customers for the future, keeping in mind the sale and profit of distant future- and their reason to exist is the valuation enhancement model for the business. They are driving the retail commerce to an unimaginable level and serving a wide array of manufacturers as well as offline distributors across a host of categories. Foreign investors are looking more for the profit of exposure in the market place than immediate financial gain as they see a huge potential in the e-commerce industry. Surely a time will come when the e-commerce industry will transcend from the introduction to growth stage when a major equity stake will be backed by venture capital firms. Its measure of performance is GMV (Gross Merchandise Volume) – a term used in online retailing to indicate total sales dollar value for merchandise sold in a particular market place over a certain time frame. Over the past one year Wall Street hedge funds and big internet investors have pumped in billions of dollars into India’s consumer internet story. Flipkart and Snapdeal raised about $3 bn. Indian consumers are being subsidized by investors.

They could end up spending close to a billion dollar (Rs.6,000 crore) on offering discounted pricing. The success of e-commerce will continue uninhibited as long as investors chip in money. Consider this: a one page advertisement of popular online portals in the mainstream newspaper that one gets to see today almost at regular intervals costs between Rs.60 lakh to Rs.1 crore. Add to that a sum of $1mn (Rs.6.2 crore) salary with stock options of $3- $6 millon paid to the top software engineers of these portals which are amongst the highest paid to any non board executives. Few Indian companies pay their division heads so much. Only the pay packets of CEOs of other IT industries are comparable to this salary. Even the most famous Amazon.com that maximised the internet’s ability to provide a superior selection of products as compared to those of traditional retail stores had lost hundreds of million dollars in the beginning. Their first profit was registered 10 years after start of operation in 1995 with operating margins averaging 3% to 4%. So the question remains, will the e-commerce story be a sustainable model?

The best strategy for the brick and mortar retailers to sustain their market share is to break away from their established business models, fight back through strategic alliances and try to survive for a longer period of time. When you do not know your competitor, it is difficult to perform and win the race. In this transition phase it is better to reinvent the value proposition for customers by offering a charter of exceptional customer service. They will need to innovate. Take the example of the Kirana stores. One can order groceries from the comforts of one’s home online. Yet these stores continue to thrive. It is because of their ability to provide customized and personalized services with unmatched flexibility.

If the brick and mortar retailers are early adopters then they cannot be ignored by the e-commerce players in the market place. Conventional stores are not easily replaceable. They can re-emerge in some other form. In the US, top 20 retailers who also sell on-line have developed omni-channel capabilities. Walmart survives despite Amazon. 24 hours news channels have not moved out the newspaper. T20 and Test cricket have co-existed, so will perhaps the brick n mortar and e-commerce. Only time will tell.

Placement Week at IILM

Whenever the human capital of an organization thrives, the organization will prosper, and vice versa. With this belief, a student’s personal potential and workplace potential is intervened, placement week was organized for PGDM 1st year students from Feb 9 -13, 2015 to optimize opportunities and circumstances for summer intern-ship and understanding job market well.

Placement week was a great endeavour to bridge in the gap between demand of companies and students’ expectations.

Industry people from Vodafone, Wingreens, Singer India, Mccain Foods, Silver Arrow, Nova beans (3D Printing), UAS international , IIFL, Deloitte, Garmin Navigational Tools were invited to interact with students. Campus to corporate, how to prepare for an interview, importance of preparing LinkedIn profile in a professional manner in corporate world, understanding corporate culture for professional effectiveness, importance of team building among budding managers,how to develop soft skills, orientation about current job market and various job profiles offered by organizations were the topics appreciated by the students. Some of the companies offered summer intern-ship during the placement week. Face to face interaction with industry people added value and knowledge on understanding job market among students.

Last but not the least, TED videos on motivation, improving body language and enhancing interview skills were also appreciated by the students.

10 Significant points your startup cannot ignore

Starting your own business and being your own boss can be amazingly satisfying, but it’s s not that simple as it sounds. There are number of fundamental issues that one needs to take care before going ahead with a start up. Here are some important factors you need to consider before jumping into a new business:

Bright Idea – One of the essentials for start ups is to have an idea.Now, it is worth noting that one needs to also focus on the newness of the idea. Evaluate whether you have a brilliant & original idea, which would be beneficial to society and solves a problem. In order to ensure that your idea is innovative, research your idea thoroughly and see if other people are already using the same concept/idea to make money. If it is already in use by people, do not lose hope. Simply, try to find a different or new approach to the idea.Innovative ideas are key to success.For instance, company called ZIPDEAL ranked number 8th in 2014 in the list of top innovative companies in the world wherein Google stood at number 1.Now, ZIPDEAL used a brilliant idea of making business from missed call and awarded number 8th position “For turning a consumer cheat into an asset”

Blue print – Once you are done with your innovative idea, the next step is to give it a concluding shape in the form of “Business Plan” . As a business plan helps you to understand business objectives, identify interdependencies, set your priorities , ease the process of tracking results and also it helps you to be proactive and not reactive to business. Thus , a business plan helps you to become a better entrepreneur.

Legal structure of business – Think about “Which legal structure makes most sense”. There are pros and cons of almost all the forms of business entities be it is company, partnership or sole proprietorship. While deciding about the type of business entity consider the factors such as

• Legal liability involved
• Tax implications
• Flexibility
• Cost of administration etc

Team – Team stands for more than one person. You should try to start the business with at-least two members .Also, start up businesses should review their team and analyse whether the team is competent enough to bring the different domains expertise like Technology, Human resources, Marketing, Production, Finance etc. Further, a business may be great as a team but try to review whether the team will be able to execute the venture. So, concentrate on the Execution capability of the team.

Identify Target Market – The more you understand your customer, higher are the chances for the success of the business. Therefore, you need to identify your customer/target market .Identify

• Whether the market wants what you are offering(Market viability)
• Understand the competitors marketing strategy
• Do market research and study your target customer
• Understand market competition .Focus on gap between demand and supply

Creating Buzz – For a start up company, creating a buzz in the market through a costly promotion campaign may not be easy. Use more creative ways to get the attention in the market at zero or minimum cost. “For example ,UNICEF used Guerrilla marketing campaign which created huge buzz in the street and actually returned great results. A vending machine was set up on the streets advertising dirty water. Instead of different varieties of soda, it was actually different varieties of diseases found in dirty water. Stunning! It is even more interesting that people would actually put in a $1 (which ultimately was donated to the cause) to see what came out” (Source- http://www.creativeguerrillamarketing.com).So,if you use some creativity ,it is possible to launch an effective and low cost promotional campaign. Some of the options can be

• WOM – Word of mouth publicity through family, friends and relatives
• Linkedin – Make a Linkedin profile and join appropriate groups
• Directory – Get your business registered in a business directory most likely online like indiamart, Justdial,Ask me etc
• “.com”– Create a website and display attractive graphics and pictures on the same
• Blogs – Add blog to your website to post pretty images of your products or other engaging materials

Financing – Fund raising is vital for a new business”.If fund raising is done in perfect way it can lead to lucrative partnership with Angel investors & venture capitalist and if not done perfectly it can be fatal for new enterprise. There are a number of ways in which a start up business can raise funds, some of the important ones are

• Use Family and friends– Family and friends can be used as a source of financing. But make sure that there is proper lending agreement between you and the family/friends .A number of small businesses use this method of financing so don’t underestimate this.
• Crowd funding– There are various crowd funding sites where you can float your business idea and arrange finance for your idea. In case of crowd funding, the project is funded by a large number of public normally via internet.The crowdfunding model consists of mainly three participants: the project creator who proposes the idea , individuals who support the idea and a moderating organization (the “platform”) that brings the parties together to launch the idea .Some of the best crowd funding websites for small businesses include Kickstarter, Indiegogo, and Fundline.
• Bank Financing– People use bank finance as the most common way to raise fund for their business. Further, in India there are various schemes for getting bank finance for start ups
• Venture capital– Affluent Investors wish to invest their capital in businesses with long term growth prospects. Such a capital is termed as venture capital which can be a good source of finance for start ups.There are number of venture capitalist firms in India like Reliance Venture,

Flexibility – Another important factor that needs to be considered by a start up is flexibility. This covers flexibility in terms of business idea or business goals, which some businesspersons find harder to achieve. It is important that you should be ready to alter your personal start-up dream if it doesn’t match reality.Many a times venture capitalist can give you suggestions for improvising your idea or goal. The successful ventures are normally the ones that can take their initial idea and alter it once, twice or thrice into a better version.At times ,business ideas fail as it lacks flexibility.

Technology – Now a days, technology has an important role to play in the success of a business. Review your business plan to find out which technology will enable you to save time, save money, stay in control, make more sales and deliver a better service to your customers.Big business brand like L&T,Coca Cola, Pepsi etc spend a lot on technology/softwares.

Compliance with state and central laws – One should ensure compliance with various legal and tax matters in order to lead a successful start up. Some of the compliances may relate to

• Compliance with companies act
• Tax Identification number
• PAN number
• VAT or service tax registration number
• Patent laws etc

 

A Study On Customers’ Perception Of Online Visual Merchandizing And Its Impact On Their Intentions To Buy Online

RESEARCH ABSTRACT

2

The Internet today ties more than two billion people world across. Also it has an immense bearing on the global economy, contributing an estimated $1.7 trillion, of the global GDP in 2010. Yet half the numbers of Internet users live outside the advanced economies, often in countries that are quickly developing, have significant economic potential and are socially and culturally diverse. India has about 120 million people online today which offers an arresting example of the Internet’s growth potential. The major players are eyeing to gulp a larger pie of India’s $3.1 billion (excluding travel) e-commerce market (Business Standard 23 May 2014). India is adopting the Internet at a much more rapid pace than advanced economies and even many developing economies, yet 90 percent of its population is currently not connected.

Hence the pertinent question rises – What makes India’s online retail sector under perform despite of country being the third largest Internet base in the World after China and the US? Of $500 billion organized retail sector, the online segment contribution is less than 0.50%. (ET New Delhi 10 Feb 2014). India’s e-commerce market is valued at $3.1 billion by CLSA (HT New Delhi 21 May 2014) and is sensed to be highly competitive. Are we all projecting it to “can’t touch, won’t buy” outlook? Or smartphones will flush in torrid patterns in shopping behavior of the consumers in forthcoming years? Are we restricting the uprising to the surface or e tailing will cut the ice to deeper levels? This study attempts to understand the ways to improve satisfaction levels considering visual merchandizing factors impacting intention to buy of online apparel shoppers in India based on empirical research and will also try answering if higher satisfaction is indicative of repeat buying.

Internet invasion along with secure gateways, prompt deliveries and returns, price bargains and convenience have accounted for high affinity among the time starved and impatient generation. Indian consumers have exhibited remarkable rise in online shopping from 65% recorded last year to 85% in 2013 as revealed by ASOCHAM study. Electronics, apparels, jewelry, baby food and lifestyle accessories like watches, books, perfumes and beauty products have witnessed the roar. India’s e-commerce market has progressed from $2.5 billion in 2009 to$6.3 billion in 2011 to $16 billion in 2013 and is estimated to hit $56 billion by 2023 (ASSOCHAM  2013)

Of course the need of the hour dictates how e commerce will gradually creep in to connect people at a click. The way developed nations hinge upon internet shopping, developing nations are not far off in the league. The lower percentage of internet shopping in our country despite of being the third largest internet base is the world may be shouldered upon myriad factors as viewed by “Indian consumer”.

A lot of worldwide research has already been conducted to bring forth various antecedents which are involved in online shopping process. Right from consumer attitude to strategic practices have been examined in past to reveal high involvement factors leading towards an intention to buy. But the visual appeals impacting intention to buy apparels online in a country like India with such a diverse mix necessitates a gaze to comprehend the masses and in turn aid apparel e merchants develop lucrative online visual merchandizing practices.

As larger Indian population gradually becomes acclimatized to online shopping lot many studies conducted talk about mitigating risk factors, thereby enhancing credibility to shop more. Hence, though largely studied in the context of brick-and-mortar stores, Visual Merchandizing (VMD) in the online perspective has gained lot of attention from researchers. VMD is defined as the strategic display of a store and its merchandize in a way that will captivate the attention of potential customers and stimulate them to buy (Diamond & Diamond, 2007). Therefore presentation must be curated with a sharp eye of trending fashion that ultimately yields higher profitability.VMD embraces both visual and marketing functions of the store environment, including store design, merchandise presentation, window dressing, mannequins, props and materials, graphics, lighting and signage (Diamond & Diamond, 2007). Earlier studies establish that site design and merchandising pull customers and impact their satisfaction with Internet shopping (Szymanski & Hise, 2000). Extensive and higher-quality product information affects consumers’ contentment in Internet shopping (Lin, 2007). Also more striking and pleasurable site stimuli may influence consumers’ behavioral intention (Wu, Cheng, & Yen, 2008).

Fashion marketing flags VMD as an absolute vital strategic tool (Lea-Greenwood, 1998), and apparel is a significant fashion category that is frequently purchased online (Burns, 2006). Year 2006 marks the popularity of apparel and apparel-related products purchased online,  excluding travel (Corcoran, 2007); online sales of apparel and accessories in the U.S. increased 31% as compared to the previous year (Emarketer, 2007) almost reaching $12.4 billion, which accounted for 12.2% of total sales in 2007 (Brohan, 2008). This was one of the reasons for choosing apparels as the target product in this research.

In the traditional retail locale, consumers search apparel products using visual and tactile senses. However, due to the nature of the online purchase process, Internet shoppers rely on visual information available on the screen (e.g., verbal descriptions and product images). Since apparel cannot be physically experienced online, ambiguity about color, fabric, and fit makes online apparel shopping risky. Previous research suggests that provision of sufficient visual and verbal product-related information may influence consumer attitudes and enhance buying intentions (Kim & Lennon, 2008).

Hence the study aims to identify the different factors associated with visual merchandizing which may impact the buying intention of the customer. The research will be based on customer perceptions about the various aspects of visual merchandising and hence will also study the customer traits and the possible influence it may have on the buying intentions. It is assumed for the purpose of this study that customer demographics, their purchasing power, their previous shopping experience, their trust and the place of residence will impact their online buying behavior.

The importance of the study lies in the fact that there has been a surge in technology and also a shift in the buying modes of people in India. Indians are now showing interest in purchasing from the comforts of their home and are giving up the traditional mode of buying apparels.

Information and Communication Technologies for a Better World?

Reposting an old article of mine- Dec. 2003- available on

http://www.networkideas.org/news/dec2003/news25_ICT.htm

 

 

Information and Communication Technologies for a Better World?
Rajkishan
The first phase of the World Summit on the Information Society [WSIS] took place in Geneva, Switzerland from 10-12 December, 2003. The second phase will take place in Tunis, Tunisia, from 16 to18 November 2005. In Geneva, over 54 Heads of State, Prime Ministers, Presidents, Vice-Presidents and 83 ministers and vice-ministers from 176 countries, Executive Heads of United Nations agencies, industry leaders [private sector], NGOs, media representatives and civil society came together for the first multi-stakeholder global effort to share and shape the use of ICTs for a better world.The Summit adopted a Declaration of Principles which puts forward the shared elements among members of the international community about a common vision of an information society’s[1]values. It also adopted a Plan of Action which sets forth a road map to build on that vision and to bring the benefits of Information and communication technologies [ ICTs][2] to underserved economies. One among the few things for which there was consensus among the participants[3] in the Summit was with respect to the framework and strategy the international community should develop to ensure that the possible benefits of ICTs for development are maximized while the possible obstacles and barriers are minimized. With respect to the other two major themes discussed at the summit, namely, access and applications, very little of concrete and immediate relevance was achieved at the end of the first phase of the WSIS. All the intensity of debate and hard talk on internet management and governance during the pre-summit phase was diluted with the decision at the Summit to set up an UN working group on internet governance which will report to the second stage of the summit in Tunis, the decision only facilitating the stalling of the issue temporarily. Regarding the question of bridging the so called ‘digital divide’ by increasing access and applying ICTs for redressing the problems of the poor countries, it was agreed upon that for achieving the above, building up the infrastructure base in these countries from the primary level is essential . However, the consensus ended here. How this process is going to be funded and what role the developed countries should play in this respect remained a topic of controversy and discordance.

Few people have ever died because they did not have access to the Internet or could not make a telephone call. Among the necessities of life, ICTs come well down the scale. But it is much easier to deliver the real necessities of life-such as clean water, nourishing food, shelter, education, healthcare, and employment-with good access to information and communications. The UN Millennium Declaration[4] contains commitments to halve, by the year 2015, the proportion of the world’s population living on less than one US dollar per day, suffering from hunger or having no access to drinking water. It also contains commitments on achieving universal primary education for both boys and girls, reducing maternal and child mortality, improving healthcare and achieving significant improvements in the life of slum dwellers. ICTs can help in achieving these goals.

At the closing ceremony of the Summit, Yoshio Utsumi, Secretary-General of the International Telecommunication Union [ITU][5] and Summit cautioned that the Summit was only the start of a long and complex process. “Telephones will not feed the poor, and computers will not replace textbooks. But ICTs can be used effectively as part of the toolbox for addressing global problems….” he said[6] . The true test of an engaged, empowered and egalitarian information society, he added, would be seeing the fruits of today’s powerful knowledge based tools in the most impoverished economies. . The participants in the closing ceremony also stressed why it is pertinent to have a new commitment in areas like internet governance, access, investment, security, the development of applications, intellectual property rights and privacy to work together if we are to realize the benefits of the information society. A genuine and objective assessment of the Summit can be done by examining to what extent the above issues were addressed to in the summit and a consensus evolved with respect to tackling them.

The issue of internet governance was one of the most important and extensively discussed topics in the pre-summit phase, largely because of its multi-dimensional impacts in the global context. However, with agreement to set up an UN working group on internet governance – technical management of the internet and public policy concerns such as unsolicited advertising [spam], privacy, cyber crime and network security- the dispute has been defused, at least, temporarily[7] . Developing countries have proposed that the International Telecommunications Union should be given control of Internet governance issues, including anti-spam measures and distribution of Website domains. Many developing world countries believe that a new approach is needed as the Internet reaches maturity and as many poorer countries log on to the Internet. The move could represent a major setback in future for the International Corp for Assigned Names and Numbers (ICANN), a non-profit company which is currently seen as the most-recognisable Internet governance organisation. Because of its far-reaching implications in the international political, economic and cultural milieu, the issue has to be analysed systematically and independently, in detail.

Access to information, and thereby to the creation of knowledge, is considered a critical factor in the development process. On the one hand, this requires an adequate range of ICT networks and services. On the other hand, it implies the ability to use those tools to develop applications that benefit society (learning by doing). But both the tools and the ability to use them are unevenly distributed. Despite considerable progress in recent years, access to ICTs, notably the telephone, mobile phone, Internet and broadcast networks, remains unequally distributed[8]. There are, for example, more televisions in Brazil; more fixed line telephones in Italy; more mobile phones in Korea; and greater Internet connectivity in Luxembourg; than in the whole continent of Africa. Yet the population of Africa, and the needs of its people, greatly exceeds those of these other countries. In recent years, these disparities have come to be known as the “digital divide”. The Digital Solidarity Agenda put forward by the Draft Plan of Action attempts to bridge this divide by putting in place the conditions for mobilizing human, financial and technological resources for inclusion of all men and women in the emerging Information Society. The plan of action suggests that Developed countries should make concrete efforts to fulfil their international commitments to financing development including the Monterrey Consensus, in which developed countries that have not done so are urged to make concrete efforts towards the target of 0.7 per cent of GNP as ODA to developing countries and 0.15 to 0.20 per cent of GNP of developed countries to least developed countries. However many participants, especially from Africa were quite sceptical about the financing aspect of this process. African countries led by Senegal wanted a Digital Solidarity Fund to help governments, companies and nonprofit organizations narrow the so called digital divide. The U.S. and other western countries rejected this funding proposal insisting that the existing mechanisms are adequate, requiring at most unspecified adjustments. This seems quite ironical in the light of the fact that the WSIS was able to pledge only a trickle of financial support compared with the $6.3 billion (U.S.) one organizer estimated it would take to truly bring phones and internet to all corners of the world. However, it was finally resolved to undertake a review of existing ICT funding mechanisms and also study the feasibility of an international voluntary Digital Solidarity Fund, which would be reviewed in the Tunis Summit.

Another concern which was voiced by civil society groups[9] and some participants from African countries [before and after the Summit] was that the Summit was steamrollered by western and MNC interests’, as clearly evidenced by the dominance of MNCs like Micro Soft, Hewlett- Packard, Cisco, World Space etc. in technological collaborations formed at the Summit. especially with respect to developing the internet. Ralf Bendrath of Germany’s Heinrich-Böll Foundation warned that “To an extent, industry is naturally important, to build infrastructure and operate it. But we are against an information society that’s organized as a purely profit-oriented information society”[10] .

Civil society groups also came out with an alternative declaration claiming that their voices and the general interests collectively expressed by them are not adequately reflected in the Summit documents. Their Declaration titled “Shaping Information Societies for Human Needs” is centered around four core principles : Social Justice and People-Centred Sustainable Development; Centrality of Human Rights; Culture, Knowledge and Public Domain; and Enabling Environment.

Inspite of all the focus and big talk on the role national governments[11] have to play in the ICT diffusion process, the Summit was attended by a relatively much smaller number of government representatives than was initially expected. Of the 176 governments represented at the Summit 80 heads of government were initially expected to attend, some 60 confirmed their participation and finally was attended by 40 As Claire Flus, who works on providing access and local content to Brazil’s urban slums summed it up, ” The people we have seen are mainly from NGOs. The governments, I can’t really see them. I don’t find it obvious at all they are supporting this”[12].

Press freedom has been another controversial issue at the summit, with developing nations and European states clashing over the wording of a general declaration on the role of the media. The growing reach of the Internet as a news medium has once again thrown the spotlight on press freedom. But there was anger that many governments such as those of Zimbabwe, who are accused of clamping down on the media and restricting access to the Internet, are participating in the summit. As Timothy Balding, director general of the Paris-based World Association of Newspapers, said, “Many of the principal barriers and obstacles to development of the Internet as a platform for free expression have been erected by the very governments who are in attendance”. It is quite ironical to note that closely on heels with the Summit , a new U.S. federal law is coming into vogue from January, 1, 2004, making it legal to send bulk e-mail (60% of which is today spam). Anti-spam activists suggest that this would open the floodgates of spam[13] !!

A clear concern of alarm and caution also was voiced at the Summit, especially by Latin American and African nations regarding the need not just to preserve existing cultures, but also protect new cultures and forms of expression being created by the internet. One of the positive outcomes of the Summit was the consensus to preserve and support cultural diversity, though the question of how this could be achieved in today’s world still characterized by a sharp digital divide was largely skipped ,foster local content development an knowledge-sharing , and enable the use of all world languages on the internet.

Inspite of the differences of opinion in many areas the Summit ended on a general note of optimism that it was largely successful in placing the importance of ICTs in fostering development and bridging the digital divide on the world agenda. With long term commitment on the part of governments, private sector and civil society to mobilize resources and investment most of the envisaged targets can be achieved.

December 23, 2003.

[1] Ever since the 1980s, ‘information society’ has been one of the key terms used to describe the modern world. It has been employed variously as a social, cultural, economical and technical concept, and is typically seen as the natural development of the European liberal tradition, or of American technological modernity.

[2] Information and communication technologies are seen by various different bodies of the international community as being, inter alia:
– a bridge between developed and developing countries [DOI and DOT Force] – a tool for economic and social development [WTDC 1994, Seoul Declaration, ADF 02] – an engine for growth [The Missing Link Report, 1984];
– the central pillar for the construction of a global knowledge-based economy and society
[Florianopolis Declaration];
– An opportunity for countries to free themselves from the tyranny of geography [ESCAP 2000].
African Development Forum III, “Consensus Statement and the Way Ahead”, 3-8 March 2002,
Addis Abeba. http://www.uneca.org/adfiii/consensus.htm

[3] Participation at the WSIS was broadly from four categories of stakeholders, namely, governments, private sector, civil society, and the UN family.

[4] The reference here is to the UN Millennium Declaration Development goals. A framework of 8 goals, 18 targets and 48 indicators to measure progress towards the Millennium Development goals was adopted by a consensus of experts from the United Nations Secretariat and IMF, OECD and the World Bank. ( Road Map towards the Implementation of the United Nations Millennium Declaration, A/56/326 [PDF, 450KB] The goals are eradicating extreme poverty and hunger, achieving universal primary education, promoting gender equality and empower women, reducing child mortality, improving maternal health, combating HIV/AIDS, malaria and other diseases, ensuring environmental sustainability and developing a global partnership for development. In addition, the global development agenda also includes the achievement of sustainable development and agreed development goals, as contained in the Johannesburg Declaration and Plan of Implementation and the Monterrey Consensus, and other outcomes of relevant United Nations Summits.

[5] The original idea for the Summit came from ITU Resolution 73 (Minneapolis, 1998) and was subsequently confirmed in ITU Council Resolutions 1158 and 1179. Subsequently the UN General Assembly Resolution 56/183 [21 December, 2001] endorsed the framework for the Summit adopted by the ITU. UN General Assembly Resolution, A/RES/56/183, is available at: http://www.un.org/documents/ga/res/56/a56r183.pdf

[6] http://www.itu.int/wsis/geneva/newsroom/press_releases/wsisclosing.html

[7] Geneva Summit aims to bridge digital divide, Financial Times, Dec, 9, 2003.

[8] WSIS document –Providing access to ICTs for all -available at www.wsis.org

[9] The UN uses the term for organizations that are distinct from the government or international agencies.

[10] ://www.dw-world.de © Deutsche Welle

[11] While the private sector may be the driving force behind the growth of the information society, since private initiative is market driven, which does not necessarily cater for the needs of the whole population, particularly in developing and least developed countries it is essential for governments to take the lead in promoting equitable participation of the whole population in the information society.

[12] http://www.theglobeandmail.com/servlet/story

[13] The Hindu, The Challenge of Spam, p.10, Dec.19, 2003.


 

Responsible Business | Can Business be responsible?

Words have different meaning in different context. Capitalists have been shown as cruel people with single minded focus on profit . They are not bothered about the larger well being of society. Over the years , things have changed. The government plays an important role in regulating business. Firms have to compete and play by the rules. In the modern world, business needs to be responsible to the challenges faced by society and the world. Super capitalists like Bill Gates and Warren Buffet, Mark Zuckerberg of Facebook are super philanthropists too,championing the causes of the poor and the challenges faced the world.

Business is important for society as it organizes production and distribution of goods and services for people. It brings innovation and increases productivity, introduces better techniques of production , employs people, pays taxes to the government and makes profit for its investors .

A responsible business does all this playing by the rules and norms set by the community and the government . But there is more to this term Responsible Business . As I see there two main challenges which our world faces and businesses can’t be oblivious to these challenges . The first challenge is environmental problems due to economic development and burning of fossil fuels which are impacting nature in negative way. The second challenge is the prevailing inequality in the world between the rich and the poor . These problems will increase in their proportions as population of the world will increase from existing 7 billion to 9 billion in next 30 years, though most of the increase will happen Africa where consumption level is very low .

Business has the three important factors what in management jargon is said ” Triple Bottom Line ” . People, planet and profit . There is going to be tough balancing act for any company to do as the scope and range of competition at the market place are getting sharper everyday.

The economic and scientific and technological development of last 200 years have brought enormous benefits to mankind but there are downsides with serious consequences . The use of plastics is one case which is so harmful. It is choking the drains, pollutes water bodies and is non biodegradable . We need an alternative to plastics for packaging and other uses .

Companies drain their untreated chemical effluents to fresh water rivers . That is creating serious problem to large number of people. There are many examples where planet friendly business processes create higher cost to the company which affect their competitiveness at the market place . This is serious dilemma for any company to create a right long term path.

A company which can balance people Profit and Planet or triple bottom line is responsible business. A very few is venturing out in that direction in real sense. Most of the initiatives are on surface and for media and government consumption while maximizing profit remains the main mantra.

The economics and accounting measurement need to change to reflect the ideal balance which a company has achieved and that also gets rewarded at the marketplace. . Without thinking long term and aligning the personal goals with larger social goals, nothing much can be achieved .That is precisely the role of enlightened leadership. Responsible Business will stem out of responsible , visionary and enlightened business leadership.

Responsible business will come out of only from responsible leadership.

Enhancing Workplace Learning: Role of Coaching and Mentoring

Swiss Re, a Zurich-based global re-insurance firm achieved an impressive turnaround moving from a loss of $ 663 million in 2008 to a net income of $4.2 billion in 2012. By 2015 the company aims to generate 20-25 per cent revenues from high growth markets. This requires talented people with right skills and languages as well as agility and passion to perform. In response to this, the company has embraced the 70-20-10 learning and development model to support the targeted business growth. In this model, 70 per cent is geared to learning on the job through rotations and stretch assignments, 20 per cent is focused on learning from coaching and mentoring and 10 per cent is invested in formal training methods such as seminars and e-training. Thus the company is using a range of means to strengthen continuous learning and development with strategic investment and focus on workplace learning.

Today, organisations are working in an environment that is increasingly disrupted by consumers, technology and regulatory shifts. In such a scenario the traditional classroom model of learning is doomed. As a result, organisations are exploring new approaches for employee development that are not tied to the formal structured methods around the classes, courses and curricula model. In part this interest has been driven by economic consideration. Pressures to lower training costs and reduce budgets for travel have been a major factor. But this focus is also driven by the realization that a majority of adult learning occurs not through formal learning but through experience, practice, conversations and reflection in the workplace. Added to this is the emerging appreciation of the important role the context plays in learning. Focus on workplace learning has not been confined to any particular business sector or to specific group of employees but is being adopted across wide range of industries, agencies and government departments.

Rationale for workplace learning

The publication of research and survey data over the past decade indicates that workplace and informal learning offer an effective and efficient solutions to improved workplace performance. People learn 70 per cent of what they know about their jobs informally (Loewensteinn and Spletzer,1996). This has been validated in the body of research in the ensuing years. Capital Works study reports that approximately 75 per cent of the skills employee use on the job were learned informally through discussions with co workers, self study, mentoring by managers and similar methods. Casebow and Ferguson (2010) found that most frequent and effective approaches to learning used were informal chats with colleagues (80 per cent) and on the job instruction from managers and colleagues (45 per cent). Exact percentages may vary from study to study but it indicates the importance of workplace learning . Some of the most critical skills to workplace success, communication, collaboration, teamwork and even technical skills, are cultivated through invaluable and ongoing informal workplace learning: mentoring, coaching, peer reviews and job shadowing.

Coaching and mentoring

Workplace coaching is a collaborative, solution-focused, result-oriented and systematic process in which the coach facilitates the enhancement of work performance and the selfdirected learning and personal growth of individual (Greene & Grant, 2003). Mentoring is an interactive process occurring between individuals of differing levels of experience and expertise which incorporates interpersonal or psycho-social development, career and/or educational development, and socialisation functions into the relationship (Carmin, 1988). Broadly speaking, coaching supports individuals and teams in building skills that increase performance while mentoring is primarily about developing capability and potential. (CIPD,2009). Coaching has a short term focus vis-a- vis mentoring which focuses on long term development.

Most companies position coaching as an investment in high-performers. Individual coaching often focuses on the top layers of the firm. Team coaching is offered using experiential learning such as business simulations and team exercises. Mentoring is offered to emerging talents as a relationship outside the regular reporting line that helps them develop and move successfully through times of change and transition. A more experienced person is matched with another less experienced one and acts as a listener and guide in questions of business and personal development. Interaction with senior managers helps develop a more sophisticated and strategic perspective on the firm and its direction, values and ways of working (Day 2001). Coaching and mentoring help accelerate learning to create impact at the individual, group and business level as they are geared to people and teams with significant involvement in organisational change process (Vera&Crossan,2004).

UK’s Chartered Institute of Personnel Management reports that 51 per cent of companies (sample of 500) ‘consider coaching as a key part of learning development’ and ‘crucial to their strategy’, with 90 per cent reporting that they use coaching. More recent research in 2011 by Qa Research found that 80 per cent of organisations surveyed had used or are now using coaching. According to Toyota’s philosophy, the responsibility to develop people falls squarely on the line manager, not on the HR department or the trainer in the classroom. The next generation is developed through coaching of daily work. Employees are given challenging assignments by managers. The development lies in the stretch between their current ability and the learning they need to go through to complete the assignment successfully. In addition to defining the right stretch to each member, the manager must also coach and support the member throughout the assignment to help him or her succeed, all the while leaving enough room to think, allowing mistakes and using each one as a stepping stone to development.

Companies like Smithkline Beecham, Cadbury, Hewlett Packard, Mckinsey & Co, Infosys to name a few are using mentoring to develop their employees from initial stage Mariott International and Bank of America have formal mentoring programmes. Here, more senior professionals and mangers team up with less experienced protegees with the aim of assisting the protegee to improve their performance and career progress. The accounting firm KPMG made ‘online mentoring program’ part of its employer of choice initiative . Nestlé has launched several mentoring schemes at different levels in the organisation. Credit risk company Experian has since 2008 been running a global talent development forum and internal mentoring initiative the Experian Business Network for its high potential and diverse emerging talent.

Benefits of coaching and mentoring

Coaching and mentoring help employees to

► To adjust to the culture in an organization: The Coach/Mentor can provide the new worker with information on the corporate culture, organizational structure and procedures that will help the younger professional settle into his role in the business.
► Help in employee growth and development: Coaching and mentoring programmes provide the mentee with real-world knowledge that bridges the gap between educational theory and actual business practices.
► Those serving as coaches and mentors within an organization gain personal and professional satisfaction by sharing their expertise with other employees.
► A supportive atmosphere can improve employee morale and loyalty, thereby helping to reduce turnover and boost productivity.
► Companies can align the goals of the business with a mentoring programme to gain a competitive edge.

Conclusion

Coaching and mentoring, whether formal or informal, provide a simple and cost-effective way to enhance enterprise learning and provide direct and specific learning and development to employees. They help employees improve their essential skills, reinforce strong relationships among employees, support a learning culture in the workplace, and increase productivity.

Will Kirana Shops Survive the Tide of Organised Retailing in Emerging Cities of India?

With the changing demographic features and improvement in quality of life of urban India, the Indian retail sector is witnessing a tremendous growth. As per AT Kearney’s annual Global Retail Development Index (GRDI), 2010 India is ranked third in the list of most attractive market for retail investment. The retailers are now selectively focusing on smaller cities/emerging cities of India like Chandigarh, Ludhiana, Jaipur, Lucknow, Kochi, Nagpur, Indore, Nasik, Bhubaneswar, Visakhapatnam, Coimbatore, Mangalore, Mysore and Thiruvananthapuram. The emerging and potential cities are projected to contribute significantly to retail revenues. Although organized retailers entered the tier cities of India in early 2000, their growth has been modest during this period. This prompted a study to establish the potential of emerging cities for the growth of retailing with the focus on consumer preferences and behavior. Further, since these cities were dominated by traditional retailers, the study also attempts to establish the impact of organized retailers on unorganized sector with respect to the purchase behavior consumers of food and grocery (The outlets which sells food, grocery, household items, toiletries and cosmetics).

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Apple of our Eyes

What is it about Apple that draws so many eye balls and so much headline space? I’ve never heard of people queuing up or sleeping outside stores to become the proud owners of the first Samsung S3 or Nokia Lumia or Blackberry for that matter. But, what is it with Apple that creates this magnetic field. There is no doubt about the fact that Apple products are superiorly engineered but what is it about them that creates that “halo”? Umpteen numbers of articles have been written about the comparison of iOS with Android. Numerous tech-gurus have shown a hands down to Apple when comparing it with Android vis-àvis the entire package of features and pricing. Still it continues to make heads turn and stock prices soar.
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