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Peoples Management Journal

Issue 1- January 2009




Advisory Board:
Mr. Arun Gurtoo, Director A,R&D Peoples Group
Prof. P K Mishra, Dean, Faculty Of Management BU
Mr. Gurnam Arora, Jt. MD Kohinoor Foods.
Mr Ashok Sharma, Vice President, Godrej Industries.
Rashmi Bharadwaj, Director, DE NOVO Consultancy
Prof. (Colonel) A. Balasubramanian, President, Shri Balaji Society,Pune

Editor:

Dr. U K Neogi
Director, PIMR

Editorial Board:

Dr. Asma Rizwan Cordinator
Asst. Professor, PIMR

Shweta Mittal Member
Lecturer, PIMR

Gunjan Varshney Member
Lecturer, PIMR






























CONTENTS
MANAGEMENT ARTICLES

COMPLETENCE MAPPING: AN INNOVATIVE MANAGEMENT PRACTICE TOOL
Smita Nigam, Poonam Pandey,
Dhruv Kumar Pandey

GLOBAL BRAND MANAGEMENT: ISSUES AND CHALLENGES
Manoj Mehrotra, Satish Kumar,
Soumendu Bhattacharya

MANAGEMENT STYLES IN INDIA AND ITS RELEVANCE
Dr. M A Burghate, Aparna Samudra

FORECASTING HR IN THE KNOWLEDGE ERA
Dr. Kanchan Bhatia

THE ART OF BODY LANGUAGE
Dr.Asma Rizwan

RESEARCH PAPER

A STUDY OF PRE AND POST-LISTING VOLATITY OF AMERICAN DEPOSITORY RECEIPTS:
EVIDENCE FROM INDIA
Anindita Chakraborty, Navita Nathani,
Dr. Umesh Holani

CHINAS ENTRY INTO WTO & ITS IMPACT ON INDIA
Dr. U.K. Neogi

CASE STUDIES

PITCHING TO THE RIGHT CUSTOMERS- THE CARREFOUR WAY
Dr. U. K. Neogi

ANALYTICAL STUDY ON T-20
By MBA I Semester Students, PIMR
Under the guidance of Dr. U.K. Neogi

MARKETING MIX OF DABUR HAIR OIL
By MBA Students, PIMR
Under the guidance of Mrs. Shweta Mittal

MANAGEMENT OF STRATEGIES FOR GLOBAL BUSINESS.
By Govind B Dave

CADBURYS, BACK TO BASICS
By PIMR students

CHINAS ENTRY INTO WTO & ITS IMPACT ON INDIA
By Dr. U. K. Neogi, Director,
Peoples Institute of Management & Research



COMPETENCE MAPPING: AN INNOVATIVE MANAGEMENT PRACTICE TOOL
By- Smita Nigam, Poonam Pandey, Dhruv Kumar Pandey
Lecturer, ITS, Ghaziabad

ABSTRACT
The management of innovation is focused on systematic processes that organizations use to develop new and
improved products, services and business processes. It involves harnessing the creative ideas of an
organizations employees and utilizing them to bring a steady pipeline of profitable new innovations to the
marketplace quickly and efficiently. Sustained innovation comes from developing a collective sense of
purpose; from unleashing the creativity of people throughout the organization and from teaching them how to
recognize unconventional opportunities.
As it has been discussed in the paper an innovative approach needs to be taken towards all organizational
practices. The goal is always to have the correct competence needed to help the company reach its goals and its
most important challenges. Competence mapping is one such innovative practice that is widely being used by
organizations today. Competence mapping is about assessing the value of human capital and its development.
Care needs to be taken to ensure the involvement of the entire organization. The need to map and monitor the
competence is perceived by most organizations as a tool to add value to their key resource areas. To cater to
this need the paper also discusses two comprehensive models for competence mapping. The process of
competence mapping should be aimed at providing an integrated tool both at individual and organizational
level. From the organizations viewpoint, competence development is always a question of obtaining new
competence, developing new competence and phase out old.

INTRODUCTION

Innovation is the introduction of new ideas, goals, services and practices which are intended to be useful. The
driving force of any innovation is often the courage and energy to better the world. An essential element for
innovation is its application in a commercially successful way. The challenge for the company is to bring to
the market a stream of new and improved, added value, products and services that enable the business to
achieve higher margins and thus profits to reinvest in the business. Thus it is often seen that successful
exploitation of new ideas incorporating new technologies, designs and best practice enables the businesses to
compete effectively in the global environment.

Keeping in mind, the complexities involved in the evolution of an innovative business practice, care must be
taken for the competency required for the same in terms of organization, process and people. A human mind is
a tool that innovates. Therefore for an innovative business practice to flourish effectively an appropriate
competency mapping of the workforce is required. Large or small companies and organisations, invest much effort
on human capital and its development. They know that internal competences are able to impress a distinctive feature on
the company, and that the knowledge of their human resources represents the primary wealth of the organisation. They
therefore develop and implement tools and methods to manage, transfer and capitalise competence, and to define
standards for their evaluation and validation.

COMPETENCE DEFINED
Competence combines three aspects knowledge, know-how, attitudes and resources. Competence is the
combination of relevant resources that an individual mobilizes to reach a particular result.



According to Le Boterfs paradigm any analysis of competence has to be contextualized to the typology of
product, service and organization.



COMPETENCE MAPPING

Competence mapping is to make a connection between what the company needs and what the worker can
perform and eventually detect a gap. One assumption that must be present to uncover this gap is that current
status of the competence can be documented. The company also has to define what is needed now and in the
future.
To map the competence of a company or an institution is not easy, and below we will take a closer look to
competence mapping and related items.

NEED FOR COMPETENCE MAPPING

The companies and institutions experience a gap ("the competence gap") between the existing knowledge in the
organisation and the needed knowledge. This gap has come into being because the market is demanding and
only companies/institutions that adapt to these higher demands will survive.
These demands deal with quality, price, time of delivery etc. That means workers have to learn new skills, both
regarding to the product or the service produced and to the marketing and transport of the product. It must be
ensured that the worker and the company as a whole has the correct knowledge to fulfill these tasks. Therefore
we have to map the competence and compare this existing competence with the wanted competence, the
competence that is needed to make a better product and thereby to survive in a competitive market.
One more important aspect of "competence mapping" is that the mapping process initiates other processes in
the company/institution which are very important. Since the mapping process can be quite extensive each
worker will be more active in relation to the company's goal and strategic plans of the company.
PEOPLE IDENTIFYING COMPETENCIES
Competencies can be identified by one of more of the following category of people: Experts, HR Specialists,
Job analysts, Psychologists, Industrial Engineers etc. in consultation with: Line Managers, Current & Past Role
holders, Supervising Seniors, Reporting and Reviewing Officers, Internal Customers, Subordinates of the role
holders and Other role set members of the role (those who have expectations from the role holder and who
interact with h him/her).
MODEL ONE FOR COMPETENCE MAPPING

Several methods have been created for mapping competence. The methods use different perspectives in the
mapping process from looking at each individual to looking at the whole company. Following is one such
simple method which can be used in the organization for competence mapping.
Step 1.
Form a workgroup of 8-15 persons who represent important functions in the company both from the
management level and from the workers level. This process involves 4 meetings and the whole process lasts 4-
6 months.
Step 2.
Decide if information should be collected from customers and workers in the company. Create procedure for
personal interviews with customers and workers to gather information to check if the company fulfils core
demands from the customer and changes in demand if any.
Step 3.
Decide the core areas that need to be discussed to prepare the company for the fulfillment of the future
strategies.
This will result in an overview of necessary competence elements and each element is assessed on a scale from
good to poor taking into consideration what is important and what is not so important.

Step 4.
Discuss which competence areas that should be analysed further.
Following four aspects are evaluated in order to develop action plans for how the area should be improved or
be developed further.

Problem insight - Why is improvement or better utilisation of the competence important?
The type of knowledge base - Silent/explicit, individual/collective
Organisational conditions for learning, positive and negative relations
Important methods for learning in the chosen process
The analysis of each competence area ends up in practical action plans. These plans deals with better utilisation
of existing competence and if upgrading of competence is necessary in any area.
Step 5.
The purpose of this step is to be sure of the continuation of the competence process. Provide feedback to the
company as to how the process has effected the competence work generally and how the identified initiatives
have been adapted into the company.
about what one should do and how one should do it.


Model one for competence mapping








































MODEL TWO FOR COMPETENCE MAPPING
This is a very simple method which can be done in 8 easy steps.
1. Organising the work of mapping.
ORGANIZATION
DETERMINATION
OF OBJECTIVE
DESIGNING OF
STRATEGY
ANALYSIS OF
EXISTING CORE
COMPETENCY
FORMATION OF
WORKGROUP
DETERMINATION
OF REQUIRED
COMPETENCY
GAP ANALYSIS
ACTION PLAN
IMPLEMENTATION
EVALUATION AND
FEEDBACK
Analysing the current stategy
Analyzing the competitors
Analyzing the customer buying behavior
Analyzing the strategy for retention of customers
Analyzing the trends in business
Analyzing the current research & development facilities

2. Mapping of critical competence areas.
Analysing future competence of the workforce required
Analyzing the gap between current and future competence demand
Analyzing the current skills
Analyzing the development rate of workers
Analyzing the future challenges for workers

3. Mapping current competence.
Analyse each workers job content and current demands to skills.
Analyse person/ task table
Analyse availability of resourses

4.Gap analysis between current status and critical competence areas

5. The company must regularly clarify what the workers wants and what their ambition are related to
the company's need
Accomplish appraisal interview once a year.
Provide new and applied competence to each worker as soon as possible.
Train workers in order to help teaching other workers
6. A priority list is prepared for the next step and compared with the required
7. Establishment of procedures for systematic and continually supervising.
8 To find out to what extent do the company make sure that increased competence really contributes to
a better day to day management of the company?
Thus although competence mapping is not a very easy job but a focused and a streamlined approach can create
wonders for the company if well implemented. But at the same time competence mapping must involve the
employees at all the levels and the mapping must be related to goals and strategies of the company.

PROBLEMS WITH COMPETENCY MAPPING
Competence mapping should focus more on what the organisations as a whole can manage than looking at the
formal knowledge that each individual worker has.
But it must be taken care that each individual has the wanted formal knowledge, the necessary skills and
know-how to do a god job for the company. The problem is that it is here the gap comes true, it's between what
we can measure and what we know about each individual on one side and what is needed by the company on
the other side.
The problem is the silent competence, because it is here the competence gap most often is uncovered. Silent
knowledge is visible when the individual performs a task, preferably a task relevant for the new challenges the
company is meeting. Otherwise silent knowledge is not visible.

COMPETENCE DEVELOPMENT
The development of the competence must be connected to the company's goal and strategic planning. Core
issues to be addressed include the following:
Identification of the core competence of the organization.
Task planning by the company for competence development.

From the organizations viewpoint, competence development is always a question of obtaining new
competence, developing new competence and phase out old, not needed competence. The goal is always to
have the correct competence needed to help the company reaching its goals and its most important challenges.
Competence for the individual is important in the companies' view because the company is depended on the
individual competence. But competence is also important for the individual as such because a positive attitude
from the worker is a very important condition for a good work and an experience of mastering the work.
New competence enables the worker to meet new challenges and to solve new tasks.
The need to map and valorise and monitor the competence is perceived by most organisations as it can
represent the added value that gives a distinctive features of the organisation.
The most interesting competence is the competence that produces substantial competition power but that
competence is quite difficult to map because it is silent, implicit and very often collective. The silent
competence pops up only when it is needed. When mapping competence it's crucial to choose one or more
views for how to look at competence. The question is what aspects of competence one should try to map
keeping in mind the following four aspects
The Individual perspective
competence that each individual in the company has and how these findings fits together with the company's
goals and strategy.
The business perspective
competence required to reach the internal and the external goals. The new goals which are possible through the
new competence that has been obtained
The changing world perspective
need for identification for a change in a way that initiates a process for change .Learning environment headed
for change be designed. Preparation for a good mixture of formal learning processes and informal learning
through practice at work by balancing the collective and individual learning.
. Collaboration, learning in network
The concept of creating learning material in collaboration is used very often nowadays. The concept
strengthens the issue that the work-force themselves should contribute to produce the learning material, and
thereby learning more.
CONCLUSION
Competence mapping has its own importance which cannot be ignored by the company at any cost if it wants
to gain competitive advantage in business. It helps to create a sound and focused organization with enough
competencies to boast about. Competency mapping is important and is an essential exercise. Every well
managed firm should: have well defined roles and list of competencies required to perform each role
effectively. A lot is going on in recent times on the issue of competency mapping. A lot of resources are being
spent and consultants are invited to do the job of competency mapping. Increased manpower costs, need for
ensuring that competent people man critical positions, the need to be competitive and recognition of the
strategic advantages of having good human resources have compelled firms to be more competency driven. In
good organisations competency mapping existed already. Traditionally HR Directors and their top management
have always paid attention to competencies and incorporated them mostly in their appraisal systems. For
example when L&T, LIC or NDDB, NOCIL, HLL, Bharat Petroleum etc. revised their Performance appraisal
systems they focussed on the assessment of competencies. Role analysis was done and role directories prepared
by the Indian Oil Corporation in mid eighties.
Thus it is evident that competency mapping serves as an important and an innovative management tool
designed to give competitive advantage to a company in terms of people process and organization.
REFERENCES:
Books:
Zwell Michael, Creating a culture of Competence.
Spencer Lyle M. , Competence at work: Model for superior performance.
Sanghi Seema, The handbook of competency mapping.
Articles
Rao T.V., Art and Science of competency mapping.

Websites

www.innovationsource.com
www.innovationtools.com
www.promokompetens.net


Global Brand Management: Issues and Challenges
By - Manoj Mehrotra, Asstt. Prof, Satish Kumar, Lecturer Soumendu Bhattacharya, Lecturers
I.T.S, Ghaziabad
Abstract
It is a commonplace knowledge that the world is becoming more international. We talk of global village, and
follow events in countries we have not even heard of a few years ago. The debate about global brands and
standardisation has generated considerable heat, if not always much light.The idea of a global brand as one that
is identical in every respect in every country is a myth. Instead a global brand can be loosely defined as one
that:

Is basically the same product or services everywhere, with only minor variations(Coca Cola);
Has the same brand essence, identity and value(McDonald and Sony);
Uses the same strategic principles and positoning(Gillete);
Employes the same marketing mix as far as possible(Avon cosmetics).

Conditions for Global Brand:
1. Sustainable Competitive Advantage: The firm must be absolutely clear that the brand has
some differentiating advantage over the competition it is likely to meet in all its markets.
2. Some Economies of Scale: Costs do not necessarily fall steadily at the same rate as volume
increases. There are likely to be some steps where costs rise steeply in the short term as the
production is raised to a new level. It must be clear that when the planned or desired level of
international sales is reached , costs will be at a level that allows the company to compete with
rivals
3. A segment of viable size must exists in each target country: Segment in each market must be
big enough to support the brand.
4. The organisation to to implement Globalisation: Going from a multicountry to a global
operation is impossible without radical changes in the organisation.

INTRODUCTION
There has been much talk about geographical markets converging and the creation of a 'global market.'
Information and the media have made us all global citizens. This presents an organization with the opportunity
to broaden market scope by internationalizing product and service marketing in order to reap the benefits of
economies of scale.
However there are many complex factors that can affect an international marketing strategy. These include the
nature of the product (for example consumer durable products being more suited to standardization than non-
durables), features of a particular market and even organizational history.
Why Go Global?
Going global is highly attractive. It represents a perception of excellence but it comes with a challenging set of
obligations that many do not anticipate or plan for. It is daunting to achieve a competitively relevant presence
in all strategic global markets with an identical set of core values. Companies must harness the coherence and
scale of a global brand as well as the closeness of a local brand if they wish to succeed. Often referred to as the
70/30 principle, this rule of thumb states that 70% of the brand must remain absolutely consistent, with 30%
reflecting flexibility market-to-market. It has been stated that companies do not choose to go global but that the
market forces them to do so. There are many brands that have attempted to be successful outside of their home
borders and end up being neither truly global nor appropriately local. The decision to take a brand global (or to
several markets from its market of origin) is driven by fundamental strategic opprtunities.

Size and attractiveness of market
Commoditization in market of origin
Displace competitors
Achieve economies of scale
Protect current margins
Capture share of mind
Drive innovation

However, each of these opportunities has considerable brand implications that require attention prior to setting
out to conquer the world. Market, culture, buyer behavior, current brand loyalties and many other dimensions
may be only considered tangentially, if at all.

The risks of taking a brand global must be carefully weighed or the damage to the brand can be irrevocable.
These risks include, but are not limited to:
Erroneously assuming the brand communicates the same meaning market-to-market, resulting in message
confusion;
Over-standardizing or over-simplifying the brand and its management, resulting in a culture of discouraged
innovation at the local level;
Use of the wrong communications channels, resulting in inappropriate spending and ineffective impact;
Underestimating the investment in spending and time for a market to become aware of the brand, try it, and
adopt it;
Not investing in internal brand alignment to ensure that regional employees understand the brand values and
benefits and are able and willing to communicate and deliver consistently;
Failing to modulate performance metrics based on local variables

Assuming the business strategy calls for going global and the analysis provides support for the strategy, the
company must ask whether it has the culture, organization and processes that lend themselves to developing a
truly global brand.

Catalysts of product standardization
The development of the Internet and satellite television has paved the way for cross-boundary advertising and
promotion. But authors such as Mead have also recognized that a basic similarity in tastes between countries is
an important factor. Significant commonalities exist in Japanese, American and European lifestyle patterns and
consumer demands. It is often argued that increasing travel and electronic communications will lead to the
harmonization of such tastes and preferences.
This seems to indicate that the creation of a global strategy will meet considerable local obstacles.
Arguments in favour of Standardised Global Strategy for Branding :
The main argument in favour of globalisation centre on the view that the world is not only getting smaller
pschologically, but that is also getting more similar.
1. Markets are becoming the same: A world culture is developing, formed by global communications,
travel, films, TV and the activities of multinational firms. In the three areas that make up the so called
triad USA, Europe and South Asia- this is arguably true to an extent. It is most true of younger
people, and in many markets the taste of under-30s are probably very similer at least in developed
countries.
2. There is a segment in every market that is the same: All markets are very cleary not identical,
because there are huge variations in economic development, wealth and culture. It is idle to argue that,
even within a region, all countries are the same. It means that there is a segment within each market that
will essentially be similar to the segment found everywhere else. Thus there will be segment that
responds to Gucci, Dunhill and Rolex in every country. The size of segment will considerably vary, but
it will exists.
3. Global economies of Scale give unanswerable competitive advantage: Theodre Lewitt, one of the
fiercest proponents of global branding, argued that economies of scale could actually overcome loval
market preferences. If a manufacturer ignored current differences in consumer preferences and offerered
a common product at an unbeatable price, consumers would trade off ideal preferences for value. For
example, there have traditionally been differences in what European countries demand in a washing
machine: some want automatic, others do not, some prefer front loading and others top loading, and so
on. Lewitt argued that making a single, standardised model on a European scale would offer such a
value for money that consumers would abandon their traditional views and buy it anyway.
There are also possible savings in marketing costs such as advertising. What the marketing people must
do is to ensure that costs savings- in whatever area-do not damage the brand.
4. There is only one right idea: A more conceptual view is that, for any one brand at any particular time,
there is only one correct strategy. The definition of the brand essence and identity, the target segment,
the positioning, the principles of the mix and targetting have one best solution. Once that is found, it
shoukd be applied in every country with changes only where they are absolutely unavoidable-because
of legislation, for instance.
Arguments Against Standardised Global Strategy for Branding:
Those who oppose global branding base their arguments on fundamental marketing principles: it is the job of
marketing people to be sensitive to their customers and consumers, and only they-in the local country-really
understand them.
1. Markets are actually different: Even within a region such as Western Europe, there are significant
differences between countries. Pasta is seen as old-fashioned in Italy but rather trendy in many other
countries.
2. Local markets have different histories in every country: The development of particular product
markets will have different histories in every country. They may be converging- usually because of the
actions of the major multinationals- but their current situations may still vary widely.
3. Brands designed internationally are the lowest common denominator: If a company tries to take all
thsese differences into account, it will end up with a compromise- the brand that offends noone but
delight no one either.
4. A global brand simply may not be optimal or feasible when there are fundamental differences
across markets. Consider the following contexts where a global brand would make little sense:
Different market share positions.
Different brand images.
Preempted positions.
Different customer motivations.
Different customer responses to executions and symbols

5. The brand may not able to find a strategy to support a global brand even assuming one exists. They
might lack the people, the information, the creativity, or the executional skills and therefore end up settling
for the mediocre. Finding a superior strategy in one country is challenging enough without imposing a
constraint that it be used throughout the world as well.

Global brand leadership, not global brands
Global brand strategy is often misdirected. The priority should be developing not global brands but rather
global brand leadership- that is, strong brands all markets, backed by effective, proactive global brand
management. Global brand management should utilize the people, systems, culture, and structure of an
organization to allocate brand building resources globally, create synergies, and develop a global brand
strategy that will coordinate and leverage country brand strategies.
Brand building resource allocation too often succumbs to a classic decentralization trap in which large-
market countries receive the bulk of the attention, while the organization starves small markets that may
represent big opportunities. Effective global brand management will recognize and invest in opportunities
from a global perspective
Synergies are possible through sharing research methods, brand building investment costs, customer
insights, best practices, brand strategy development process, brand management models and vocabulary,
positioning concepts, and executional efforts. One challenge of global brand management is to realize those
synergies.
Virtually all-multinational firms should engage in active global brand management. Having unconnected
local brand strategies without direction or management will inevitably lead to global mediocrity and
vulnerability. Pockets of success, often driven by the occasional brilliant manager, will be isolated and
random- hardly a recipe for global brand leadership.
Types of Product: It is impossible to generalize across the huge range of product markets. There are however
some classification that may help.
Culture Bound and Culture Free
Products are said to be culture bound if their use is intricately tied up with some aspects of the countrys
culture. Examples of products that are free of such associations are consumer electronics. We use a VCR in
same way regardless of our nationality and background.
Food on the other hand, is thought to be intimately bound up with local culture, and indeed at first sight local
markets for food do vary hugely.

High


Economies of Scale



Low
VCR
Food
High Low
Culture Grounding
If the culture variable is combined with the availability of economies of scale, as in this figure, we see that food
has low economies of scale and is culture bound; it is therefore difficult to establish global food brands. VCRs,
however do enjoy economies of scale and is culture-bound, so global brands are feasible.
What Principles Govern and Guide Global Brands?

Self-examination at the company level is required to ensure the critical success factors are in place that will
take the brand to other markets. Interbrand has identified a consistent set of principles shared by successful
global brands.

Recognition
Well-performing brands enjoy strong awareness among consumers and opinion leaders. These brands lead their
industry or industries. Think BMW. Car aficionados, reviewers and loyal customers laud it with equal
enthusiasm. It has come to symbolize performance in engineering and design while signifying that the owner
has arrived on a personal and professional level. This type of recognition represents the nexus of perception
and reality, enabling brands to rapidly establish credibility in new markets.

Consistency
These brands achieve a high degree of consistency in visual, verbal, sonic and tactile identity across
geographies. They deliver a consistent customer experience worldwide, often supported by an integrated global
marketing effort. McDonalds is a tremendous example of a brand that has returned to its roots by shedding
distracting acquisitions, simplifying their core offer, and adhering to a shared message globally. At the same
time, McDonalds appropriately modifies its approaches for greater regional relevance. Restaurants in France
are more caf-like in appearance and the menu is tailored to the local culture. Espresso is in quick supply and
the chairs are neither molded plastic nor bolted to the floor.

Emotion
A brand is not a brand unless it competes along emotional dimensions. It must symbolize a promise that people
believe can be delivered and one they desire to be part of. Through emotion, brands can achieve the loyalty of
consumers by tapping into human values and aspirations that cut across cultural differences. Nike has appealed
to the athlete in all, regardless of true physical ability, allowing for a focused, yet mass-market offer. This has
elevated the discussion beyond tangible aspects of the shoe or apparel to what the customer feels when wearing
and performing in Nike gear. Successful global brands achieve a high degree of consistency in visual, verbal,
sonic and tactile identity across geographies. They deliver a consistent customer experience worldwide, often
supported by an integrated global marketing effort.

Uniqueness
Great brands represent great ideas. These brands express a unique position to all internal and external
audiences. They effectively use all elements in the communications mix to position within and across
international markets. Apple has creatively addressed its marketing mix while consistently ensuring that its
people embody its most ownable and beneficial brand attribute innovation.The company has once again come
to represent leading edge technology solutions that become a part of day-to-day life. Apple is embedded
tangibly and emotionally in their customers habits and practices.

Adaptability
Global brands must respect local needs, wants and tastes. These brands adapt to the local marketplace while
fulfilling a global mission. HSBC has invested in that very message by conveying its excellence in financial
services with its deep knowledge of local custom and practice. In essence, it is communicating a glocal
advantage.

Management
The organizations senior leadership must champion the brand, ideally with the CEO leading the initiative. A
leaders continual articulation of the brand philosophy and the brands view of the world is meant to give the
business strategy a recognizable face. The commitment is crucial, allowing for a unique positioning that
transcends local idiosyncrasies and appeals to a universal aspect of human nature and experience. This is a
major step in ensuring that the corporate culture will put the brand at the heart of everything it does. The
preceding list is by no means complete.

There are many other factors that must be considered, including superior products, processes and people, a
strong track record of being customer-centric in the country of origin, uncompromised ethical practices, and
continual focus on creativity and innovation.

Is there such a thing as Glocal?

Successful global brands take the globally appealing brand message, such as premium
and elite for Chanel, and apply it in local circumstances. This is achieved by translating the message in a
locally relevant way. If the brand has more than one distinguishing feature, the message can be tailored to the
local audience. For example, Mercedes plays up their prestigious brand positioning in the Chinese market while
they concentrate on their reputation for quality in Germany. This glocal quality can only be achieved by
giving local managers the power to interpret and express the message. It is important to note that global brands
do not have to be nationless, as long as the core characteristic has international appeal. In fact country of origin
can easily form a core brand identity that is easily recognizable around the world.

How are Global Brands Managed?
Successful global brands operate from clear principles already discussed. Yet these principlesrequire active
management. There are several management traits that are employed by leading global brands.

Seek Out Insights
Outstanding brands identify customer insights. When these insights appeal across cultures they assist in a
brands adoption globally. Once these insights are in place, the brand must ensure that customer perceptions of
it are consistent throughout the world. Hyundai sells two-thirds of its cars outside of Korea, has a multinational
product portfolio, a worldwide slogan and fairly consistent advertising. Despite all this, it is not a truly global
brand because the Hyundai name carries very different associations in each market. On the other hand, over
60% of Mercedes Benzs sales are in Europe, yet the brands associations with prestige and quality are global.

Integrate Local Intelligence
Brand guidelines are tremendous tools for ensuring consistency. However, they have been known to
impede innovation and diminish relevance. Brands are dynamic never static so managing them must
integrate new thought. In the case of global brands, to assume that one message can appeal uniformly to
all audiences with equal relevance is unrealistic. Well managed global brands select local markets for
intelligence related to the next big thing to ensure relevance locally and to counter competitors moves.

The Team
Global brands demand a global brand management team. This regional and international organization is in
place to maintain brand leadership. Companies with large brand portfolios tend to have separate managers for
each brand. Regardless, global brand managers must have the authority and resources necessary to implement
key decisions based on performance measurement. The brand management team reports to a senior executive
officer of the company and ideally, the CEO has direct involvement in brand decisions. Global brand
management teams implement processes to create, review and improve brand performance. This frequently
takes the form of a wider brand management council that can include representatives of business units and
agency partners.

Investment
Intangible assets, including brand, now comprise the majority of the value of a company.
These assets require capital investment like any other. Progressive companies and enlightened management
recognize the need for appropriate communications spending. However, CEO and CFOs are not signing any
blank checks they are demanding objective and quantifiable measurement of return to substantiate any
investment.

Measurement Systems
In order to sustain a global brands long-term position, there must be consistent and widespread brand equity
measurement. This will not only help brand development by highlighting and demonstrating best practice but it
will also provide the brand management team with a means of monitoring global consistency. This equity
measurement should include top-of-mind awareness, overall opinion (preference, satisfaction, loyalty,
recommendation), brand image attributes, perceptions of product/service performance, and brand valuation to
determine the financial contribution of brand to the balance sheet.


A Common Global Brand Planning Process Model
A common brand planning process is the cornerstone for creating synergy and leverage across the global
marketplace. Without it, the organization will remain splintered and fragmented.
The model proposed provides the structural foundation for a brand planning process and associated
template.
There are however, some basic elements (shown in Figure) that need to be addressed a strategic analysis ,
a brand strategy, a specification of brand- building programs, and a description of the goals and measures.
More particularly, the following dimensions should be considered for each element:

Strategic Analysis
Customer analysis- what are the key segments? What are the customer motivations? What emotional and self-
expressive benefits are being delivered within the product class? What are the customer sweet spot, the central
elements of life and self- concept to which the brand could connect? What trends are unmet needs that the
brand might address?







































Figure






















Competitor Analysis- who are the target customers? How do they position themselves? What are
their brand- building programs, and how effective are they? Is any one breaking out the clutter?
How?
Brand analysis- what is the brand image? What are the positives and negatives? What are the
strategic initiatives? What assumptions can be made about the organization is willing and able to
do?
Brand Strategy
Role in
Portfolio
Segmentation
Brand Identity
Value
proposition

Brand Building
Programs
Brand Position
Advertising
Sponsorship
Internal
Communication
Strategic Analysis

Customers
Competitors
Brand
Goals and
Measurement
Sales/Profit
Goals
Brand Equity
Goals
Measurement
Plan
Global
Brand-Planning
System
Brand Strategy
How does the brand strategy link to the brand portfolio? Should it play a role, such as being a
silver-bullet brand or strategic brand?
Who are the primary and secondary segments targeted by the brand?
What is the brand identity? The brand personality? The symbol?
What is the core identity? The brand essence?
How the brand to be differentiated?
What are the proof points and existing programs that support the brand promise?
What is the value- proposition?
What functional, emotional and /or self-expressive benefits are to be delivered?

Brand- Building Programs
What is the brand position , the goal of current brand- building efforts?
What the strategic initiatives?
What are the action plans and supporting programs in different areas?
Channels
Advertising
Sponsorship
What are the internal brand communication programs?
Goals and Measurement
What are the sales and profit goals?
What are the distribution goals?
What are the brand equity goals?
How will the brand building be measured?
Sales and profit
Distribution
Customer loyalty
Awareness
Perceived quality
Associations( including personality and emotional benefits)
The future?
In terms of the future development of standardized approaches, an important driver has been identified as the
quest for economies of scale in marketing. But factors such as distribution systems, culture and legislation are
likely to be obstacles littering the path.
But is a standardized approach optimal in that the benefits reaped from economies of scale, for example,
significantly outweigh the higher revenues that might follow from an approach that is more adaptive to local
conditions?

Implications
We have seen that there is an assumption that the world is becoming homogenized, yet national and sub-
regional cultures do exist. This makes global branding a tough challenge and one that is handled differently
from organization to organization. Some companies pursue strategies based upon the identification of common
elements among countries, whilst others find it more profitable to adapt and adjust according to specific
conditions in various markets.

References:

Brand Leadership by David A. Aaker, The Free Press
Branding: A Practical Guide to Planning Your Strategy by Geoffrey Randall, Crest Publishing House.
Marketing Management, !2e, By Philip Kotler, Kevin Lane Keller, Pearson/Prentice Hall.
International Marketing: Analysis and Strategy, By Sak Onkvisit, John J Shaw, Pearson/Prentice Hall.
Kevin Lane Keller, Branding Shortcuts, Marketing Management, Sept/Oct, 05


























MANAGEMENT STYLES IN INDIA AND ITS RELEVANCE

BY- Dr. M A Burghate, Asst. Professor, Prof. Aparna Samudra, Lecturer,
Dr. Panjabrao Deshmukh Institute of Management Technology and Research,Nagpur

ABSTRACT

The future has never been so terrific for most of the Indian Industry. As aptly put by Thomas L. Friedman The
world has become flat. The Indian companies are accessing new markets, new technology and above all new
ways of managing business. The Indian organizations have realized the need for change in the management
style. The focus has shifted to essentials of and hard headed business realism. However, the underlying fact
remains that the success of an organization depends on the skill of the people who inhabit it. The old value
system of representative democracy has been replaced by participative democracy. Further the separation of
ownership and management has led to the management style of Management by Walking Around and
Management by Consensus. There is an end of authority as a tool of management in business. The need for
corporate governance, which gives importance to accountability and transparency, has encouraged large
number of organizations to have an Open Door Policy.

We must never forget that the culture of a country plays an important role in the management of any
organisation. An Indian worker perhaps looks at a system without ruthless management practices and inhuman
work pressure even if the job security is a little less. Instead of the system (especially in PSUs) giving them
near 100 per cent job security, it could give them some fear of job security, since Indians culturally like to take
life easy and tend to become complacent. The human touch in managing has been increased by making them
feel that the company cares for them through regular training programmes, family welfare schemes, etc, which
involves them directly or indirectly into various decision making processes. The organisations today are giving
due importance to the development of preferred personal expertise of the employees.

The crux of the matter is that in the current scenario, Indian companies have started thinking sincerely about
their people and developed ''Indian-friendly management'' practices and have realized that to do business
globally means to act locally.

INTRODUCTION

The future has never been so terrific for most of the Indian Industry. As aptly put by Thomas L.Friedman The
world has become flat. The Indian companies are accessing new markets, new technology and above all new
ways of managing business. The Indian organizations have realized the need for change in the management
style. The focus has shifted to essentials of business and hardheaded business realism. The ways of doing
business have changed in the recent milieu. The organizations have realized that if they want to grow and
flourish in global business world, they better learn how to change and align themselves with it.
The management styles are defined by Brewster as A set of proposals and actions, which establishes the
organizations approach to its employees and acts as a reference point for management. The broad
factors influencing management style of an organisation can be enumerated as:
Competition
Market activity
Organic growth or acquisition & merger
Financial markets
Leadership
Size
Ownership
Various theories have been propounded on management styles but no one theory can hold true forever.
International environments are changing rapidly. Nothing is permanent, and the cause of yesterday's success
may be the cause of tomorrow's failure. Today's leaders must assume the responsibility for creating new models
of management systems because many of the assumptions on which management practice were based are now
becoming obsolete. The dynamic business environment and convergence of a global economy has neccessiated
the need for adopting management startegies which suit the need of the hour.

THE PAST
Indian business history has been long and eventful.The Indians have been famous for their business styles since
18
th
century. Infact it was the Indian business riches which attracted the British, French and Portugals to do
business in India. Having a closer look, the Indian goverenment stand on business has changed over a period of
time and hence, a change in the management styles .The period for the study can be divided into pre 1991 and
post 1991.
The first Prime Minister of our country, Pt.Jawahar Lal Nehru had a socialist attitude and hence India saw a
huge empire of the Public Sector in India and a protected trade policy. Taking a look at the Indira Gandhi's
declaration of a state of emergency in 1975, it can be argued that the government initially was hostile to
business and sought to straightjacket it under the rubric of "big is bad." The laws of the land gave protection to
the labour class and restrictive powers to business.

Another important feature of Indian business has been the family ownership of business. Large Indian business
houses like Reliance, Birla Group, RPG, SRF are owned by big and influential families.This family system
strongly influenced the Indian management styles. As it is well known, that the head of the family enjoys the
unquestioned obedience from all the family members.Also culturally, seniority in age is respected in India.The
head of the family controls and supports all the juniors. There is very less participative decision making in the
families. The same value system is reflected in the way the business was managed in India. Paternalism is
part of Indian management. Traits like familiarity, sense of security, respect for seniority, forms of
authoritarianism, obedience of authority are all apart of paternalism.

Such charateristics of business environment in India led to management styles which were more directing and
authoritative in nature. The participation of the employees was minimal and the decisions were taken by the
managers /owners. The Managers used to tell people what to do, how to do it and when the task is to be
completed. Managers assigned roles and responsibilities, set standards and defined expectations. There was an
authoratitive style of management not only in the public sector but also in the private arena of business.

The year 1991, carries huge significance for the Indian economy. This was the year when the reforms in the
Indian economy were introduced. The reforms were mainly aimed at liberalisation and globalisation of the
economy. As well quoted by Tarun Das, mentor of CII 1991 was the year when our Berlin Wall fell.
Trade controls were abolished and foreign investment was welcomed. The competition was introduced in the
well protected Indian industry. Apart from this the legislation was made more industry friendly.The frog that
was born in a well and lived most of its life in the well and had a worldview that consisted of the well , after
1991 was communicating with the other frogs in the well.

For some Indian companies it was the time of crisis. Industry had to now refocus its attention to new ways of
managing business and the autocratic and laid back attitude which they enjoyed during the socialist philosophy
gave way to hard headed business realism. Although painful, this crisis provided opportunity for developing
efficiencies through establishing new benchmarks. The new world of work today is dependent on the strategic
vision and the edge it provides to the organisation.

INADEQUACIES OF THE TRADITIONAL MANAGEMENT STYLE
Indian management was and to a certain extent is still marred by a few weaknesses in their management styles.
Some of the prominent weaknesses are:
A. Planning: By and large, planning in Indian organisation is short term.This was largely due to a
turbulent past, especially in the government and public sector organisations. Because of the instability
in the political scenario, the concentration is on the short term goals. In case of family owned
organisations there is stability within a generation but when the generation changes there is a major
upheaval and sometimes division of the organisations. The latest one being in case of Reliance
Industries Ltd. , which witnessed a bitter and unusually public falling out between the two Ambani
brothers -- Mukesh and Anil -- over control of the Reliance conglomerate built by their father,
Dhirubhai. Other shareholders watched as the two finally broke up the business empire, which had
previously been India's largest business group. All these factors influence the planning, as planning is
not independent from the personality of the leader.
B. Delegation: Although as a policy matter, decision making authority and responsibilities are delegated,
but in reality everything remains centralised. Delegation is not based on formal structures to facilitate
smoother functioning but more emphasis is put on control. In practice, it is the control that is actually
exercised on the name of monitoring and coordination. As a result of frequent and constant interference
in this form, there is a reluctance to accept responsibity at lower levels.
C. Manpower mangement: This is the most interfered management process. Although there is manpower
policy, it is not followed because of inteference from bureaucrats or politicians or other influenced
groups. The organisations, especially the government organisations donot have the freedom to hire and
fire people. There is no planned approach to training of employees, at all levels. Appraisal is very
selectively used and at times very subjective. The policy regarding promotion is at times very ambigous.
D. Employees Praticipation: Participation of employees is on the papers but actually it is not
implemented. The employees are seen as a necessity for production, but the need to involve them in
decision making is ignored. Communication in the organisations is not democratic. Information is
treated as a closely guraded resource, not to be shared or passed on. It is used as a tool to control and
retain power.

THE PRESENT
The success of an organization depends on the skill of the people who inhabit it. Crisis promotes learning and
that is what India is going through. Established companies are learning to compete with start-ups both in old
industries and in new, especially technology-based sectors. This competition, combined with such forces as
globalization, has created a need for continuous evolution in management strategy.
Whereas large monopolistic companies ruled the old Indian economy, the new terrain is a more dynamic one,
in which Indian companies are realizing the importance of efficiency and collaboration. There is an increased
emphasis on efficiency and focus on global competitiveness. The old value system is being replaced by a
productive work culture. In this context, to our mind comes the name of the best managed company in India
namely, Infosys Technologies Limited. It has been judged as the best managed company due to its
management strategies like people focus, addressing the challenge of inducting and orienting a large number of
employees into the Infosys way and knowledge sharing.

THE CHANGING MANGEMENT STYLE
The flattening of the world has ushered in new stars in the sky for managing the business. The companies today
have different set of values on which the business operates. The organization structures have changed and
companies today clearly define vision for operation. The change in the management style can be explained in
the following points:
A shift from representative democracy to participative democracy:
The exercise of authority as a tool of management in business is increasingly becoming self-limiting. The
organizations have now adopted a more participative management style, where the stress is on the discussing
style of management rather than the directing style. In corporations, which follow a Japanese style of
management, especially in manufacturing, there is a sense of unity, which has been fostered beyond the
demarcation between employers and employees. This is "participatory management," unifying the efforts of
employers and employees who share the same management ideals. Techniques of Kaizen and Six sigma are a
result of successful employee participation to improve the overall performance of the unit.
Managers using the discussion style take time to discuss relevant business issues. People present ideas, ask
questions, listen and provide feedback, challenge assumptions and coach as needed. It's important to make sure
ideas are fully discussed and debated. Managers often perform the role of facilitator, making sure the
discussion stays on track and everyone has a chance to contribute. This style of management is most common
in BPOs, where the team leaders discuss with their teams about the targets to be achieved and ways of
achieving them.
The practice of Management by Walking Around and Open Door Policy founded by Hewlett Packard is
one of the most relevant management policies in the globalised world. The managers should be aware that what
is happening in their area of operation. Managers walk around the company, getting a 'feel' for people and
operations; stopping to talk and to listen. This ensures that the management is aware of the opinion of the
people. It not only helps in improving organization but also delivers a sense on belongingness to the employees.
The Open Door Policy gives the right to the employees to voice their opinion about issues or
misunderstandings amongst various levels of organizations.
Management by Consensus as adopted long ago by JRD Tata is still relevant in todays global world. He
said that 'When a number of persons are involved I am definitely a consensus man,' adding further: 'but that
does not mean that I do not disagree or that I do not express my views. Basically it is a question of having to
deal with individual men heading different enterprises. You have to adapt yourself to their ways and deal
accordingly and draw out the best in each man. If I have any merit it is getting on with individuals according to
their ways and characteristics. In fifty years I have dealt with a hundred top directors and I have got on with
all of them. At times it involves suppressing yourself. It is painful but necessary. To be a leader you have got to
lead human beings with affection.'

To cut the long story short, this approach gives reference to listening to all the stakeholders involved and then
taking the optimum solution to achieve the given goals and objectives.

Apart from these direct management styles, many organizations are now adopting indirect ways of involving
employees in the management and inculcate a sense of belongingness in the organization. ESOPs (Employee
Stock Options) are one of the most innovative and widely used tools to make employees owners in the
organizations. A share in the company motivates the employees to perform better and the spirit of teamwork is
cultivated.

Core values and vision of is to be clearly defined
In the global business scenario, the values on which the organization is operating and the vision needs to clearly
defined. A vision statement discusses the why of an organization. Values are those basis on organization is
based. The power of well thought vision creates a competitive edge. It looks to a desirable future, and sells this
to stakeholders who will support the organization in its effort. The stakeholders are all those with whom the
organization deals with. The pride that declared values generates creates heroic perspectives for individual and
group performance.

A byproduct of value and vision statements are the generation of corporate image which carries significant
weight in the current business world. Companies like Wal-Mart while sourcing their raw materials from India
make sure that no child labour is used in the entire production process. A clearly defined vision and value
statement not only gives greater acceptability in the society but also provides a foresight and direction to the
employees as what is expected from them. Vision creates stake holding, and is essential tool for stakeholder
support. Most of the organizations today define the vision as it provides a high degree of integrity to survive
environmental changes and continue to inspire people within to extend effort.

A good example of core value statement can be as given by 3M. The vision statement of the company is as
discussed below:
Innovation: Thou shalt not kill a new product idea.
Absolute integrity
Respect for individual initiative and personal growth
Tolerance for honest mistakes
Product reliability
Our real business is solving problems.
The global business practice today requires the justification of the operation of the business organization in the
society.

Changing HR practices
Changes in the contemporary global economy highlight many of the emerging challenges facing human
resource management (HRM). Vast macrosocietal changes increasingly bind countries into interdependent
nations in which goods, capital, and people move freely. Between these communities, however, there remains a
patchwork of cultural barriers. To remain successful in this new global age, organisations must commit
themselves to transnationalism. They must also internalize strategies that are likely to succeed in global
competition. Implementing successful global strategies requires careful attention to the paradoxes created in the
management of human resources.
We must never forget that culture of any country plays an impotant role in success of Human Relation
Management. Culture refers to the collective programming of the mind, which distinguishes the
members of one group or category of people from another.
An Indian worker is perhaps looking at a system without ruthless management practices and inhuman work
pressure even if the job security is a little less. Instead of the system (especially in PSUs) giving them near 100
per cent job security, it could give them some fear of job security, since Indians culturally like to take life easy
and tend to become complacent. The human touch in managing could be increased by making them feel that the
company cares for them through regular training programmes, family welfare schemes, etc, which involve them
directly or indirectly into various decision making processes. In fact, professional studies could be made a part
of on-the-job training.
The ability to cope with cultural relativity is the key requirement for global managers to succeed today and
tomorrow. Familiar aspects of organizational life such as organizational structure, leadership styles, motivation
patterns, training and development models, and the very important concept of human resource management, are
culturally relative and, therefore, need to be considered when national boundaries are crossed. To facilitate such
cross-cultural adaptation, what is required is more recruitment of managers from different areas, acculturation
through carefully planned career moves, and cultural awareness training.
Companies like NIIT Ltd., GE are increasingly becoming aware of the needs of the employees. They give due
importance to the personal life of the employees by celebrating their birthdays, providing crches for the
mother of young ones and giving the opportunities to the employees to study further.

Flattening of the organizations:
In the organisation structure of the future we certainly see flatter organisations. Flattening in the typical brick-
and-mortar company was driven by cost whereas in the high-tech world, flattening is driven by the need for
greater speed and mobility. We are seeing the CEO getting down talking to people down at the shop floor thats
because those people in the shop floors are the ones who are creating the wealth for the company. They may be
creating more wealth than the two layers of management that sit between them and the CEO. That creates a
challenge for Indian organizations where career progress has been measured by hierarchical levels. These levels
provide opportunities for career progression, but are concurrently the natural enemy of high-tech, fast-moving
organisations.
Companies such as GE have spent the past 20 years looking at flattening and its one of the reasons why it is so
successful. It has constantly been reorganizing its work and its way of thinking to get rid of the old,
bureaucratic ways of doing things so what stays behind is the valuable work for which the marketplace will
pay. Today, some of the old smokestack companies are doing it. For the high-tech companies this is absolutely
necessary, otherwise they cant get these smart young people to come and
Work for them and maximise their personal earnings while they create value for their
Companies. Thus, companies have a mandate to create jobs that are both meaningful
and scarce. That is a major challenge for all companies including those in India.

Designing meaningful jobs:
An essential part of an individuals sense of worth, and consequently his/her commitment to the task he/she is
expected to perform, is the belief in meaningful work. The management in current scenario should emphasise
on skill variety, task identity, task significance, autonomy and feedback. Relevant importance should be laid on
the fact that people are multidimensional with varied skills and interests. It is no more the money, which
attracts the employees but the challenges at the work place along with adequate authority and responsibility,
that gives an impetus to work more innovatively and he jest for work.
The organizations should stress on the fact that employees today want to pursue a job that gives them long term
earning potential. The employees are given work, which is more meaningful and productive so that their
contribution in the organization can be seen. The companies should put the work force in challenging
environment and positions so that they can add value to the company.


Growing importance to Corporate Governance:
As global business interest in India keeps growing, so does the expectation that Indian companies must play --
and be seen to play -- by rules that are clear to international investors. Demands have long been heard for
greater transparency in the way Indian companies do business.
Corporate Governance highlights on three main issues namely transparency, accountability and integrity.
Indian companies need to develop a new focus on employee issues, corporate social responsibility and ethics
and meet or exceed acceptable standards to compete globally. The organizations are finding that a significant
proportion of their efforts are being channeled in the direction of compliance and coordination with differing
complex ethical and governance standards across the globe. In a nutshell, corporate governance is the key issue
in todays global world.
The issue of corporate governance involves around greater transparency in ways of doing business. The
compliance set by SEBI to have independent directors on board and forming a code of conduct with corporate
disclosures and setting up of audit committees is a step towards the issue of accountability and transparency in
business. The independent directors will not only serve as link between the organization and its stakeholders
but also act as a watchdog to see the ethical working of the organization.
There is a kind of emergent world standard of governance. While there are national peculiarities, such as
combining the chairman and CEO functions in one person in the U.S., there is a basic notion worldwide for
good transparency; reliable reporting of financials and risks, and boards that have the independence and
strength of purpose to be able to do all this. The Indian organizations particularly, family owned business need
to have a closer look at the issue of corporate governance. The separation of ownership and management needs
to be done, as their companies' share performance is dependent on their empowering the board. If not, their
companies' value won't grow.
Companies like Godrej Industries and Infosys Technologies have adopted the concept of corporate governance
long back which has helped them to create a good impression not only on India but also globally. Developing
strong governance standards means helping directors appreciate what board practices "make for good
governance and great performance.

CONCLUSION
The Indian Manager in the 21
st
century has inculcated a natural instinct to give up staticism and choose
dynamism. The management has to be proactive rather than reactive. He has to believe in a thinking based on a
set of cultural and organizational values and not in transacting business based on impulses emanating
instantaneously. The yardstick of measuring performance is not a bundle of rules and procedures but a
combination of outputs, results and performance. The context of business has to be global but work with those
management styles that work locally. The Indian management has to learn that having a true global perspective
means more than just having a physical presence in order countries. Indian CEOs must create and communicate
a version that is knowledge-led and shared by all employees, not just by the CEO and the top management.
Globalization implies accepting that cultural diversity in management composition and management style that
contributes to the competitive advantage of the global agency.To survive in the 21st century, agencies must
adapt a global mindset and transform leadership to be globally competitive. Organisations and their leaders
must learn to manage such transformations or they will inevitably lose their competitive edge. Global leaders,
therefore, must have the capacity to turn threats or stumbling blocks into opportunities; to motivate people to
excel, not just to survive; to accelerate innovations in competitions; and to operate globally through cross-
cultural problem solving and team building
REFERENCES:
1. Surviving tomorrow by Rajiv Shaw, Vikas Publishing House Pvt.Ltd., New Delhi
2. The World Is Flat by Thomas Friedman
3. Contemporary Issues in Modern Management edited by S. Sikidar & A.K.Pramanik
















FORECASTING HR IN THE KNOWLEDGE ERA
By- Dr kanchan Bhatia Astt Prof. Peoples Institute of Management & Research, Bhoapl
Abstract
Knowledge has become increasingly relevant for organizations because of the shift from an industrial economy
based on assembly lines and hierarchical control to global decentralized, information-driven economy. The
vital importance of knowledge in business has always been recognized but, up until now, organizations haven't
felt able to manage it because they understood neither the problems and the opportunities nor the strategies and
solutions. This picture is gradually changing as models, methods, tools and techniques for effective knowledge
management are becoming available and as organizations realize the importance of knowledge and thinking to
their capacity to adapt to the changing world. Human Resource has a pivotal role to play in the Knowledge
Management movement. This paper mainly emphasis on the concept and importance of knowledge
management and how then do HR processes and practices impact the knowledge sharing in a firm and how to
create a knowledge sharing culture in HR.
Introduction
A superficial knowledge is not enough. It must be a knowledge capable of analyzing a situation quickly and
making an immediate decision." - Cavett Robert
HR has a pivotal role to play in the Knowledge Management movement. Key HR processes -- Corporate
Education, Performance Management and nurturing (sharing, doing and caring) culture, have a very significant
role in the development of the knowledge-based enterprise.
Talent management, which is the domain of HR and knowledge management are closely interrelated. While
Talent Management focuses at individual level -- recruitment, training, skill and competency development and
career planning of an individual, knowledge management focuses on people at collective level, how to leverage
the collective knowledge of the enterprise, through Mentoring and knowledge sharing and collaborative team
working.
The belief that the people working for a firm are one of its main assets and one of the decisive factors in
determining its results is one that leaves little room for argument. There is no question regarding the fact that
workers' qualities, attitudes and behavior in the workplace go a long way to accounting for a company's success
or lack of it. While this type of resource is one over which companies do not have complete control, there do
exist certain instruments to enable them to exert their influence on the quality and performance of the human
capital on which they rely. Knowledge Management should be developed into a key competency of the people.
Before discussing the knowledge management in HR we will focus on actually what is knowledge
management.
Knowledge management is a conscious strategy for moving the right knowledge to the right people at the right
time to assist sharing and enabling the information to be translated into action to improve the organizational
performance." (O'Dell & Gray1997)
Knowledge management is an approach to discovering, capturing, and reusing both tacit (in peoples heads)
and explicit (digital or paper based) knowledge as well as the cultural and technological means of enabling the
Knowledge management process to be successful.
The Importance of Knowledge Management
Most companies are focused on producing a product or service for customers. However, one of the most
significant keys to value-creation comes from placing emphasis on producing knowledge. The production of
knowledge needs to be a major part of the overall production strategy.
One of the biggest challenges behind knowledge management is the dissemination of knowledge. People with
the highest knowledge have the potential for high levels of value creation. But this knowledge can only create
value if it's placed in the hands of those who must execute on it. Knowledge is usually difficult to access it
leaves when the knowledge professional resigns.
The only irreplaceable capital an organization possesses is the knowledge and ability of its people. The
productivity of that capital depends on how effectively people share their competence with those who can use
it. Andrew Carnegie
Therefore, knowledge management is often about managing relationships within the organization.
Collaborative tools (intranets, balanced scorecards, data warehouses, customer relations management, expert
systems, etc.) are often used to establish these relationships. Some companies have developed knowledge maps,
identifying what must be shared, where can we find it, what information is needed to support an activity, etc.
Knowledge maps codify information so that it becomes real knowledge; i.e. from data to intelligence.
For example, AT&T's knowledge management system provides instant access for customer service
representatives, allowing them to solve a customer's problem in a matter of minutes. Employees can lookup a
knowledge expert from the Yellow Page Directory of knowledge experts.
Every organization should strive to have six capabilities working together:
1. Produce: Apply the right combination of knowledge and systems so that you produce a knowledge
based environment.
2. Respond: Constantly monitor and respond to the marketplace through an empowered workforce within
a decentralized structure.
3. Anticipate: Become pro-active by anticipating events and issues based on this new decentralized
knowledge based system.
4. Attract: Attract people who have a thirst for knowledge, people who clearly demonstrate that they love
to learn and share their knowledge opening with others. These so-called knowledge professionals are
one of the most significant components of your intellectual capital.
5. Create: Provide a strong learning environment for the thirsty knowledge worker. Allow everyone to
learn through experiences with customers, competition, etc.
6. Secure long-term commitments from knowledge professionals. These people are key drivers behind
your organization. If they leave, there goes the Knowledge professionals will become the dominant
force behind the new economy, not unlike the farmer was once the key player behind the
agricultural age. By the year 2010, one-third of the workforce will be comprised of knowledge
professionals. It is incumbent upon all organizations to embrace this need for managing
knowledge.
Knowledge Management has been recognized as an essential component of a proactively managed
organization. The key concepts include converting data, organizational insight, experience and expertise into
reusable and useful knowledge that is distributed and shared with the people who need it. Knowledge
Management addresses business challenges and enhances customer responsiveness by creating and delivering
innovative products or services; managing or enhancing relationships with existing and new customers,
partners and suppliers; and administering or improving more efficient and effective work practices and
processes. Effective solutions are aligned with the organization's business strategy and result in enhanced
individual and organizational performance. Several factors that contribute to the importance of managing
knowledge are referenced below:
Competitive Advantage - Knowledge can be an organization's most competitive advantage. Wealth results
when an organization uses its knowledge to create customer value by addressing business problems. "A firm's
competitive advantage depends more than anything on its knowledge, or to be slightly more specific, on what it
knows - - how it uses what it knows - and how fast it can know something new
Technology - Because of the tremendous advances in technology, enormous amounts of information can be
disseminated to people regardless of their geographic location or time zone. The speed of transmission and
frequency in which this information is received requires an adaptable, skilled and educated workforce. From a
knowledge management perspective, the complexities associated with these technological changes will cause
us to think differently about the manner in which people learn whether it is inside or outside of the classroom.
"A firm's competitive advantage depends more than anything on its knowledge, or to be slightly more specific,
on what it knows -- how it uses what it knows - and how fast it can know something new
Organizational Change - Due to organizational changes, restructuring, mergers and acquisitions, companies
have lost some of their valued history and cultural norms. An organization's ability to create, acquire, process,
maintain and retain old and new knowledge in the face of complexity, uncertainty and rapid change is critical.
Enhanced Decision-Making - Learning from and applying past experiences can accelerate the completion of
future work and enhance the decision-making process.
Workforce Demographics - An aging workforce, coupled with retiring baby boomers and the loss of
intellectual capital or institutional memory are creating a new sense of urgency for organizations. Although
predicting employee separations is at times challenging, knowledge transfer is vital to sustaining critical
business functions. While many employees may continue employment beyond retirement eligibility, these
employees will inevitably leave the workforce.
Knowledge management is concerned with the exploitation and development of the knowledge assets of an
organisation with a view to furthering the organisations objectives. The knowledge to be managed includes
both explicit, documented knowledge, and tacit, subjective knowledge. Management entails all of those
processes associated with the identification, sharing and creation of knowledge. This requires systems for the
creation and maintenance of knowledge repositories, and to cultivate and facilitate the sharing of knowledge
and organisational learning.
Figure 1: knowledge management processes
(Adapted from Armistead, 1999)

., Figure 1 above explores knowledge management from the perspective of operational process, that is, the
basic input-output transformation process. At the input end, we have a combination of knowledge of customers
needs and expectations, knowledge of raw materials and resources to be used, knowledge of products and
services to be delivered as well as data information or knowledge. The process clearly indicates that knowledge
management takes information, knowledge and people as its basic inputs, and applied knowledge and
intellectual capital as its desired outputs.

Categorization of knowledge management approaches
The term "knowledge management" is now in widespread use. There are, of course, many ways to slice up the
multi-faceted world of knowledge management. However, its often useful to categorize them.
It has been identified two "tracks" ,
o Management of Information. To researchers in this track, according to knowledge = Objects
that can be identified and handled in information systems."
o Management of People. For researchers and practitioners in this field, knowledge consists of
" processes, a complex set of dynamic skills, know-how, etc., that is constantly changing."

Why we need knowledge management now:
o Marketplaces are increasingly competitive and the rate of innovation is rising.
o Reductions in staffing create a need to replace informal knowledge with formal methods.
o Competitive pressures reduce the size of the work force that holds valuable business knowledge.
o The amount of time available to experience and acquire knowledge has diminished.
o Early retirements and increasing mobility of the work force lead to loss of knowledge.
o There is a need to manage increasing complexity as small operating companies are trans-
national sourcing operations.
o Changes in strategic direction may result in the loss of knowledge in a specific area.
o Most of our work is information based.
o Organizations compete on the basis of knowledge.
o Products and services are increasingly complex, endowing them with a significant information
component.
o The need for life-long learning is an inescapable reality
How then do HR processes and practices impact the knowledge sharing in a firm?
Let us briefly examine some of the HR processes and practices that should be aligned to strengthen knowledge
management.
At the stage of induction of new executives into the organization, coaching and mentoring systems are meant to
transfer knowledge, exposure during training to variety of functions, units and geographical locations helps
knowledge awareness / transfer.
Employees will benefit from "Mentorship," not only during the initial months but also for a long time after that.
The role of the mentor in the later period would be to challenge the executive to look beyond the obvious, look
for past learning and base decisions on a more informed platform.
Job rotations: Well-planned job (role) rotations across geographical locations and businesses in a firm help not
only people development, but also provide an important vehicle for transfer of knowledge and best practices,
even though an organization cannot obviously depend on this as the main source of knowledge transfer.
Networked organization: A networked organization with people playing multiple roles, being part of multiple
teams -- a vertical team (Business / category) as well a horizontal team (function / knowledge domain), is the
way forward to effectively "leverage collective knowledge" of an enterprise. HR should play a key role in
developing such a networked organization, through sponsorship and or facilitation of knowledge communities
(teams), cutting across formal organizations.
Training: Learning and knowledge are inter-linked. Knowledge strategies should encompass learning
initiatives and knowledge initiatives need to converge with training initiatives. A Company's training program
needs to focus on functional and business specific skill development programs as well as competency
development focused programs.
Knowledge management cannot be practiced without a clear focus on "learning" within the organization. An
example of this is the "Bulab learning center" in Buckman Laboratories, an oft-quoted exemplar practitioner of
KM. They set up this learning center to provide employees greater access to training and education and an
ability to drive their own development. Rather than the student going to a class, this learning center delivers the
classroom to the student -- anytime / anywhere in the world. Apart from offering internal training courses, the
learning center also offers courses for credit from multiple Universities around the world, for degree programs
ranging to Ph.D. level. All the courses offered are free to the student, if he completes it successfully.
E- Learning. It is online learning. It is made available through company web sites (Intranets), and even
through CD-ROMs. It allows the learner to enroll into courses or programs of their choice and acquire
knowledge at their own pace at the place of their choice. Corporate online universities, exclusive learning space
to induct managers or develop future leaders, on going programs for sales personnel and induction into new
products and services are some of the e-learning offerings, some of the companies are making available to their
employees to develop themselves. E-Learning provides the benefit of convenience -- allows the learner to do
the learning at his or her pace, flexibility -- Learner does not have to sacrifice a training program because of its
clash with customer or personal visit, and ease of learning.
IBM has about 2500 on-line courses on offer to meet the different employee needs. At Buckman Laboratories,
all the employees are connected to their Global IT network. They have therefore chosen to deliver the
classroom to their employees over the Intranet rather than require them to travel to a classroom.
Even in cases where the employees are called upon to participate in training in classrooms, they have an
interesting approach to distance learning. The introductory material that would be normally presented at the
plenary class room sessions is provided through distance learning packages via CD-ROM or Intranets. This
ensures that every one can go through it in his or her own speed. Physical classroom meetings are used to
really interact with each other, the teacher and the material.
By delivering the class room to the student instead of sending the student to the class room, Buckman could
significantly reduce the training costs per hour per employee, through savings in out of service cost, travel cost,
cost of classroom, housing cost while taking the course and the cost of the professor or content. The Learning
Center is currently capable of handling a wide variety of the courses -- internal training, courses for credit from
some of the universities.
The training and skill profile of the employee is regularly updated, based on the successful completion
(examination) of the on-line courses.
HLL put a lot of emphasis on continuous training (both internal in HLL, at the Global Training Centers as well
as external training) to develop the capability of their employees and help them realize their potential The
company training programs --- like creative workshops, team excellence workshops, process improvement
workouts, forums for best practice sharing and Knowledge Management workshops strongly support capability
building in the areas of knowledge creation / capture (Innovation) and knowledge sharing.
Many of the businesses in Unilever have set up global learning centers (HPC Marketing academy, the ice
cream academy, world tea academy etc.) to develop training programs tailored to the skill requirements of the
respective businesses. The mission of these academies is to help build within Unilever superior business
specific capabilities necessary to deliver sustained competitive advantage and increased profitable growth.
Another very useful role HR could play is to capture stories of successes and failures in the company, archive
them in the company-training center for reference for future. This would not only support learning but could
prevent repeat of same mistakes.
Culture change: Leveraging collective knowledge is possible only when people value building on each other's
ideas and sharing their insights. Much of this shaped by the culture of the organization. In some cultures, where
knowledge is seen as power, knowledge sharing may be seen to be in conflict with the individual's personal
interests (individual excellence / competitive advantage). Therefore, institutionalization of Knowledge
Management requires HR to focus on managing the culture change / mindset of the people to strengthen
collaborative team working and knowledge sharing.
How to create a knowledge sharing culture in HR
"People do not do what you tell them, but what you measure them for." HR needs to institute a system of
rewards and recognition, training and performance development practices -- activities that reinforce the
discipline of sharing, documenting knowledge and reuse of others' ideas with pride to achieve business goals.
People in business most often behave in a way that increases their career opportunities, or recognizes their
achievement. Most organizations reward individual effort or task achievement. They reward something done in
a crisis, but most incentive programs do not reward avoiding a crisis. The best KM practitioners reward
employees for learning, sharing and collaborating.
Some of the steps HR could implement are:
Institute Team awards to recognize and reward excellent collaborative team effort, which has strongly
contributed to business results. Ensure high visibility for teams which have excelled in knowledge capture /
sharing to deliver business excellence. Many companies have found such team awards very useful in building
up the enthusiasm and commitment to collaborative team working and knowledge sharing in the initial years,
even though after a while, they might have discontinued these once they moved beyond the need for such
awards, once the knowledge sharing is embedded into the culture. I have illustrated below a few examples.
Xerox : By including knowledge sharing as a dimension for its prestigious president's award, leadership
at Xerox has demonstrated those senior management values and rewards knowledge-sharing behavior.
Also, at Xerox, the worldwide Customer Services organization created a " Eureka Hall of Fame" for
technicians who author solutions that resolve the greatest number of problems. It also created a "
Validator's Hall of Fame" for the second level engineers who test the solutions submitted by the
technicians for validity. Hall of Fame members receive cash awards and recognition.
Hewlett Packard Consulting: Senior management made explicit the desired behavior of employees, in
their "vision" statement: "Our consultants feel and act as if they have the knowledge of the entire
organization at their fingertips when they consult with customers. We will recognize those consultants
that share and those that leverage other's knowledge and experience as most valuable members of the
HP team."
Leadership commitment is further evidenced by the Knowledge Masters Award, which recognized excellence
in knowledge creation and use. This prestigious award recognized employees whose knowledge mastery best
exemplified the culture of balancing innovation with reuse; and contributed to significant and measurable
business impact. The nominations for these awards were accompanied by written stories of why the individuals
were being nominated. The stories not only reflected the growing understanding for the concepts and
application of knowledge management but also provided stories that demonstrated the business value of
knowledge sharing.
Unilever's Path to Growth awards recognize outstanding achievements in meeting the Company's
strategic goals. There are three award categories, embracing broader employee and business
achievements. The three categories recognize:
Measurable significant growth in either revenue or margin
Big ideas with demonstrable potential for future growth in either revenue or margin, and
"Enterprise culture in action" - single-minded passion for winning, liberating rigor and connected
creativity.
This award is for collaborative team effort to create and share knowledge to innovate and win! The "enterprise
culture in action" award could be entered by every one from employees in HR or Research to those in
manufacturing, distribution or in the Corporate Center. The winner of this award could be anywhere in the
business. As long as their behavior or venture could be applied in other parts of the business with significant
benefit, it need not be a large-scale initiative. It could, for example, be a new way of approaching a process or
system that has been in place for a number of years.

Some of the steps that HR could take to this end are:
Performance Development Planning (PDP). In HLL, PDP incorporates "knowledge - Development &
Sharing as one of the key competencies to be monitored and developed. Some of the key competencies
linked to knowledge development and sharing are
Learning from experience (actively searching for others ideas, willingness to discuss failures and
openness to feedback)
Developing others (commitment to share insights, help others shine, focus on future)
Team commitment (promoting cooperation and trust, open and active participation in team projects,
task forces, communities of practice / Networks, upholding team's ideas and proposals).
Develop a mechanism to communicate effectively what knowledge-related behavior is expected from
the employees. Identify knowledge as a key competence and recognize and rewards those who develop
and excel in this competence.
Share with all employees, success stories of collaborative effort and knowledge sharing, through House
Magazine, workshops etc.
Make KM part of the Company training modules.
Hold visible knowledge sharing events like " Knowledge Fairs." Such events will energize the whole
organization -- where high visibility is provided for excellent contributions to knowledge capture
creation and sharing.

Conclusion
Transformation into knowledge driven organization is essentially a people related issue. In todays changing
scenario, knowledge Management is essential to make the organization innovative and productive.
HR has a key role to play in nurturing and strengthening knowledge management through "learning initiatives"
and "culture change initiatives." HR is best placed to play the role of an effective facilitator, and give positive
reinforcements for Knowledge Management through organizing visible knowledge sharing events and
strengthening skill and competency development of employees. HR should put in place specific processes and
structures for KM and the necessary monitoring systems. The role of HR professionals in the organization
should be really to take up the challenge to create and manage knowledge.
References :

Armistead, C. (1999). Knowledge Management and Process Performance. Journal of Knowledge Management,
3 (2), ( pp. 143-154)
Albert, S. and Bradley, K. (1997): Managing Knowledge: Experts, Agencies and Organizations, Cambridge
University Press, Cambridge University Press, Cambridge, 1997.
Davenport, T. H., DeLong, D. W. and Beers, M. C. (1998). Successful Knowledge Management Projects. Sloan
Management Review, 39 (2), (pp. 43-57)
Kleiman, Lawrence S. Human Resource Management: A Tool for Competitive Advantage. Cincinnati, OH:
South-Western College Publishing, 2000.
K. Asahwathappa, Human Resource Management, 4th ed., Tata McGrawHills,New Delhi,2005
Mejia Gomez, and Cardy Robert, Managing Human Resources, Pearson Education, New Delhi, 2001.
Mathis, Robert L., and John H. Jackson. Human Resource Management. 11th ed. Mason, OH: Thomson/South-
Western, 2006
Pattanayak Biswajeet HRM PHI.
Werther W.B and Davis Keith, Human Resource Management/personnel Management
Newyork: Tata McGrawHills





The Art of Body Language
By- Dr.Asma Rizwan Asst.Professor (Business Communications)
Peoples Institute of Management & Research
Abstract
Body language is the non-verbal movements we make as a part of how we communicate, from waving hands to
involuntary twitching of facial muscles. Body language is an easier way of expressing feelings than spoken
language. Experts believe that nearly 90% of our communication is non-verbal. So the (digital) spoken
language is limited, which is why we need the (more analogue) body language so much in our communication.
Almost all verbal communication is digital and practically all body language is analogue. Spoken language and
body language go mostly hand in hand.
Ever since Charles Darwins The expression of the emotions in Man and Animals was published in 1872, the art
of body language has developed into a full fledged science. Modern researchers around the world have since
validated many of Darwins ideas and observations. In the seventeenth century Francis Bacon wrote in one of
his essays that
As the tongue speaketh to the ear, so the hand speaketh to the eye, thereby recognizing the value of gesture or
body language as a medium of communication. Many poets have utilized body language as an important tool in
their poetry especially in interpreting romantic gestures. This famous quote of William Shakespeare
demonstrates this fact.
Fie, fie upon her!
Theres language in her eye, her cheek, her lip,
Nay, her foot speaks; her wanton spirits look out
At every joint and motive of her body.
Body language is the quiet, secret and the most powerful language of all.
According to experts, non-verbal language communicates much more than what we really mean, while words
themselves contribute a mere 7%. It is a language without words and perhaps the loudest display in a non-
verbal communication. We have all heard the saying that what you say is not as important as how you say it.
Ones voice, its quality and tone, as well as the syllabic stress and other voice characteristics, is probably the
most important form of nonverbal communication. Words are not everything though, especially in the work
force today. Facial expressions, the movements of the hands and body, and the way we dress all convey
information about us. Today's workplace is an extremely competitive environment. Making the right
impression in todays society is very important in reaching an ideal level of success. Well, many people
overlook this crucial communication tool called the nonverbal communication.
Sixty-five to ninety percent of every conversation is interpreted through body language, says Ray
Birdswhistell, author of many books on body language (Warfield) and the pioneer in the field of non-verbal
field of communication. Few people realise that up to 60% of the information that we convey to others is
nonverbal. Hand gestures, facial expressions, eye contact, tone of voice, body posture and all types of
mannerisms convey a message, a mood, or an emotion (Nonverbal Communication). According to, Professor
Ray Birdswhistell, more human communication took place by the use of gestures, postures, position and
distance than by any other way. Communication would fall flat without the aid of body language. No matter
where we look, non-verbal communication is at the heart of every message conveyed or received whether in
face-to-face encounters, or telephonic conversations. Its importance can be judged from the very fact that
kinesics experts sit and watch the arrivals of heads of state and other dignitaries at the airport or important
venues to interpret their body language like a live commentator watching a cricket match in a cricket stadium.
As we see that right from the posture of President Bush or the handshake of President Musharraf, the experts of
body language spell out the outcome of a summit talks or treaties much before the press gets the official text. In
the present day scenario of globalization the art of body language has gained enough importance to teach it as a
full subject to the college students. Non-verbal communication plays a hugely significant role in inter-personal
relationships and Image Consultants worldwide are minting money teaching them to corporate heads. Every
body wants to master this art or learn the etiquettes, which in French translates as 'label'. Surely nothing
'labels' us so effectively in the eyes and minds of our friends, acquaintances and business associates as the way
we conduct ourselves - the manners, gestures, style and courtesy we display in our daily lives.
Thus we speak two languages: one using words, the other body movements. Each is powerful and
eloquent in its own way. Each has a separate dictionary and script, and plays a very specific role in shaping our
personality, then why dont we pay enough importance to teaching of body language in the classrooms? Or do
we really need to 'teach' them in the classroom? For me the answer is yes. Although we do use and interpret all
these factors in our first language communications, I believe that they aren't necessarily automatically
transferable to the language we are learning. It could prove to be an important tool in the hands of our students
for their future

Features of non verbal communication
The main components of non-verbal communication are:
Kinesics (body language) Body motions such as shrugs, foot tapping, drumming fingers, eye
movements such as winking, facial expressions, and gestures
Proxemics (proximity) Use of space to signal privacy or attraction
Haptics Touch
Oculesics Eye contact
Chronemics Use of time, waiting, pausing
Olfactics Smell
Vocalics Tone of voice, timbre, volume, speed
paralanguage Grunting, mmm, er, ah, uh-huh, mumbling
Silence Pausing, waiting, secrecy
Posture Position of the body, stance
Adornment Clothing, jewellery, hairstyle
Locomotion Walking, running, staggering, limping
Eye contact can have a very significant influence when you are interacting with them. The eyes of men
converse as much as their tongues, with the advantage that the ocular dialect needs no dictionary, but is
understood the world over, said Emerson. They are the windows of our souls and mirror of our heart.
It plays an important role in connecting immediately and in establishing rapport with people. Avoiding
eye contact is associated with being dishonest
Eye contact also plays an important role in turn taking during conversation. Among a group of people, a
speaker will often make eye contact with the person he or she wants a response from.
People who know each other well can communicate mutual understanding with a single look.
Eye contact is also a way of communicating attraction, the commonest form being winking
Facial expression is one of the most obvious and flexible forms of communication and can easily convey
mood, attitude, understanding, confusion and a whole range of other things.
Proximity is the study of space or spatial relationships and is quiet a fascinating area of body language. It is
also something that can be easily misinterpreted as it varies culture to culture. The amount of space a person
needs is determined by his personality. For example introverts needs more elbow space than extroverts.
Posture can communicate a number of things. Your posture can convey a whole range of attitudes, from
interest or the lack of it, to degrees of respect or subordination.
Gesture is the visible bodily action by which meaning is represented. They are often used in conjunction
with verbal messages. Each gesture is like a word in a language. Hence it is important not to isolate gestures
from their context and verbal communication.
Different finger, thumb or hand gestures can convey a range of meanings in different cultures, from
insults to approval or even attraction.
Many good speakers or storytellers use hand gestures to illustrate their stories.
It can also form part of punctuation with head nods and hand movements, which relate to the stress,
rhythm and tempo of their sentences.
Self-touching is associated with hostility and suspicion.
Of the above, body language (particularly facial expressions and gestures), eye contact, proximity and posture
are probably those, which learners most need to be aware of in terms of conveying meaning, avoiding
misunderstandings and fitting in with the target culture. In terms of skills development, non-verbal clues should
not be underestimated when developing both the listening and speaking skills. Like grammatical structures,
non-verbal communication has form, function and meaning, all of which may vary from language to language.

Why it should be taught in the classrooms?
Non-verbal communication (body language, paralinguistic) has been a focus of attention for some time in areas
such as the refinement of presentation skills, developing social skills, and even as a realistic alternative to the
lie-detector test. Relatively little attention, however, has been given in language teaching to non-verbal
communication as a complement to spoken language, though recent trends in neuro linguistic programming
regarding mirroring and parallel body language have filtered into current research and practice. Since it is said
that as little as ten percent of communication takes place verbally, and that facial expressions, gestures and
posture form part of our culture and language, it seems reasonable that we should at least raise learners'
awareness of non-verbal communication in order to improve their use of natural language, increase confidence
and fluency and help to avoid inter-cultural misunderstandings.
So, if nonverbal communication is so important, why shouldnt there be a course in college to teach students
these critical nonverbal cues? Imagine, for instance, the edge a job candidate would have by knowing how to
make a good first impression and how to portray a stronger self-image. Consider the advantages to a teacher, a
lawyer, or psychologist in knowing how to spot suspected abuse or how to interpret what their students or
clients are saying without words. From handshaking, to eye contact, to conscious or unconscious gestures, the
unspoken language of nonverbal communication often imparts more information than the words that are
actually said. Either being intentional or unintentional, nonverbal communication is passed along through
wordless messages. The key word here is unintentional. Most nonverbal communication is done without
knowledge or through habit. Learning the powerful nonverbal gestures and movements would enhance not only
the self-confidence of the students but also the ways that others respond to them. Lending further support to the
importance of incorporating a nonverbal communication course into a college curriculum is that we now live in
a global economy that crosses cultural boundaries.
Conclusion
Nonverbal behavior is like culture and is passed down from one generation to the next. Different cultures view
dress, body movements, facial expression, eye contact, touch, smell, space and time differently. The college
graduate who recognises these cultural differences is definitely going to have an edge in practically any chosen
field. The international differences in gestures and nonverbal cues are critical to recognize in many situations,
especially when out of ones own country.
It is extremely interesting to read some of the words and their descriptions in the Nonverbal Dictionary of
Gestures, Signs, and Body Language Cues. A whole New World of insight is opened to those who have an
understanding and grasp of the terms, meanings, and interpretations in this work. The fact that biologists,
anthropologists, linguists, psychiatrists, and others who have studied human communication have extensively
researched the dictionarys items further supports the need to study nonverbal communication in all majors
(Givens).

Though body language have myriads of nuances that require careful interpretation, it is relatively easier to learn
than other languages because its vocabulary is rather limited. Moreover we do not have to sit down with books
in order to study it as in case of verbal language. We can start learning it by watching people in our free time in
train or bus or by watching TV. This language can be taught as an interesting subject in our curriculum to help
students to master this art. Just as in learning of any other language, body language too requires motivation and
basic competence to master skills. Learning this skill will sharpen our perception in many ways and make
relationship more smooth and constructive. An awareness of the way in which we behave will help us
transform our negative behaviours into positive. The old age adage actions speak louder than words holds
true in this case; it implies that non-verbal behaviours often predominated when it is a matter of influencing
people. College students are always interested in the social aspects of nonverbal communication. In their
personal relationships with the opposite sex or even the same sex, nonverbal communication gives off all sorts
of cues. It will help them to differentiate that winking is not merely a lowering of the lid while holding the
other relatively immobile (Birdwhistell) but an act of flirtation. After extensive research it is difficult not to see
the importance of having insight into nonverbal cues in coaching, in teaching, in law enforcement, and in
international business. Its importance should not be underestimated and left to chance learning. It should be
taught as part of the curriculum in all college majors.
As the global village continues to shrink and cultures collide, it is essential for all of us to become more
sensitive, more aware, and more observant to the myriad motions, gestures, and body language that surround us
each day. And as many of us cross over cultural borders, it would be fitting for us to respect, learn, and
understand more about the effective, yet powerful "silent language".
Source- Published works of body language experts Ray Birdwhistell, Desmond Morris, Allan Pease, and
others.















A STUDY OF PRE AND POST-LISTING VOLATILITY OF AMERICAN
DEPOSITORY RECEIPTS: EVDENCE FROM INDIA
By- Anindita Chakraborty, Lecturer, Navita Nathani, Lecturer
Prestige Institute of Management, Gwalior
Dr. Umesh Holani, Dean,
Institute of Commerce & Management, Jiwaji University, Gwalior

Abstract
The globalization of the world's growing capital markets are the result of growing demand for equities,
corporate activities, privatization, advancing technology and economic growth. With the growing economy of
India, financial markets have also accelerated in the past decade in the race of globalisation. Numerous Indian
firms have raised capital by issuing and listing their Depositary Receipts (DRs) on the foreign markets.
Depositary receipts gained popularity in the 1990s. After a slowdown in 2001/2002, years 2003 and 2004
brought a renewed progress of the DR markets. Also Indian companies are gradually becoming aware of the
advantages of DR offerings. This paper empirically examines the impact of international listing on the volatility
of the Indian stocks which are dually listed. To quantify the effects of a ADR issue on the respective actual
shares in the local market, we have considered nine companies which are listed through ADRs in the NYSE
during the period of January 2000 to December 2007. The result of the study shows that creation of a DR
program has a positive impact on the respective actual shares value in the post-listing period. The F-test result
also shows that, except three companies ADR listing has no change on the volatility of underlying stock in the
local market. It means that listing in NYSE (New York Stock Exchange) has a positive impact on the volatility
and the volatility decreases after listing in NYSE.
Keywords: ADRs, international cross-listing, volatility

INTRODUCTION
With the financial sector reforms initiated in 1991, Indian stock market has since joined the liberalisation
process. The foreigners were allowed to invest in the Indian capital market under specific guidelines from the
Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The inflow of foreign
funds with entry of foreign institutional investors (FII) has transformed the style of functioning of the Indian
capital market. Indian companies were also allowed to issue Depository Receipts (DRs) and Euro-convertible
bonds to the foreigners for raising capital from foreign capital market. Hence began the journey of Indian
companies going abroad with their offering to foreigners to raise the capital for their businesses. The DRs are
denominated in any freely convertible currency and may be listed on any international stock exchange. As of
30th June 2001 there were 72 Indian companies which have issued and listed their 85 DR programmes on the
foreign markets. Many other Indian companies are planning or are in the process of listing their DR
programmes in the near future.

Cross-border listings or dual-listings or international listings provide a way for companies to tap the
opportunities of a changing global capital environment. Publicly-held companies undertake listings on overseas
exchanges for a variety of reasons. A company may choose to cross-border list to boost its status as a truly
global player, raise debt or equity, increase trading volume, improve shareholder relations, enhance its visibility
among overseas investors and consumers, tap into retail and institutional funds and benefit from changing
global attitudes toward equity investing.

At the beginning only a one-way fungibility of DRs was allowed, which means investors who bought DRs
were allowed to convert the same into Indian shares after a hold-up of 45 days from the closing date of the
issue. Once converted, the same were not allowed to be reconverted into DRs. However the government has
changed the above rule recently and allowed a two-way fungibility of the DRs, consequent to which a re-
conversion is now allowed of converted DRs into equity shares.

By listing on an International Stock Exchange a company can enhance its global status. Cross-border listing can
attract media interest in the host country, thereby improving brand awareness and corporate image. This can be
a valuable asset for companies in the consumer products sector and other groups that depend on product or
service recognition and visibility, possibly leading to spill-over benefits for product or service-market sales.
The diversification of a company's shareholder base spreads their financial risk in the same way that
diversifying a portfolio can spread investment risk. This can alter the volatility and liquidity levels of a stock.
For most companies this is a positive development. Thus the DR program includes:

AMERICAN DEPOSITORY RECEIPT (ADR)
An American Depository Receipt is a certificate issued by a bank in the United States representing a certain
amount of shares of a foreign company on a foreign exchange. They can be traded on American exchanges just
as a domestic stock can be; they make foreign investment much easier for the Americans.
GLOBAL DEPOSITORY RECEIPT (GDR)
It is a bank certificate issued in more than one country for shares in a foreign company. The shares trade as
domestic shares, but are offered for sale globally through the various bank branches.
EURO CONVERTIBLE BONDS
Euro convertible bonds are securities, usually bonds that can be converted into equity shares and are
denominated in Euros.

REVIEW OF LITERATURE

Domowitz, Glen and Madhavan (1998) proposed a model in order to account for differential effects on
volatility resulting from the individual stocks market and they have taken a sample of Mexican ADRs. The
model shows that the effects of simultaneous listing of stocks in more than one market cannot be predicted to
be uniform, and that they depend, on the quality of inter-market information linkages. The effects can be
attributed to benefits of increased inter-market competition and the costs of order flow migration, both
associated with market fragmentation. Costa et al (2000) examined the seven Brazilian public corporations that
were listed through ADRs in US and found that the volatility of the underlying stocks was reduced after the
beginning of ADR trading. Pasquariello, Yuan and Zhu (2005) explored the relationship between the
likelihood and clustering of ADR issuance activity and past and future currency returns. The results depicts that
the non-U.S. companies shows economically and statistically significant timing ability in the corresponding
exchange rate markets over and above the timing ability in local and U.S. stock markets. They found the effect
of the exchange rate on market valuations in the issuing currency is more important and make them more
selective in choosing the timing of an ADR issue.
Admati and Pfleiderer (1988) predicted that returns are more volatile when trading is larger, because both
informed and liquidity traders prefer to trade when volume is large. Katerina (2005) showed that creation of a
DR program had a positive impact on the underlying shares price and regarding liquidity an average daily
multiple for all the stocks reached very high level, which represents an average increase in the daily trading
volume. Further the DR and underlying shares prices were perfectly correlated; hence there were no profitable
arbitrage able which shows there was perfect markets integration. He said that a DR issue lowers cost of capital
to the company, for the reason of enhanced liquidity and reduced the risk exposure. The lower cost of capital
implies higher shareholder value, which is reflected in the DR price.In the study of French and Roll (1986) it
was found that volatility is higher during trading hours. On an equivalent hourly basis it was found that
volatility during trading hours on the NYSE is far greater than during weekend non-trading hours and conclude
that the greater variance during trading time is due to the arrival of private information rather than public
information. The further studies done by Oldfield and Rogalski (1980) and Stoll and Whaley (1990) also
support this fact. While Houston and Ryngaert (1992) showed that during the weekend the pattern of volume
is affected and volatility during the week is also get affected but that the total volume and volatility over the
week remains constant.
Bayar & Onder (2005) analyzed that the changes in the volatility and liquidity of French stocks are examined
before and after they were cross listed on the German electronic market and found mixed results. It was also
found that for many stocks volatility increases and liquidity declines after cross listing. Chelley-Steeley (2003)
studied the behavior of returns of securities listed on both the Paris Bourse and SEAQ-International in London
and found that prices in London adjust to changes in their fundamental value more slowly than Paris prices
despite the arbitrage between the two markets. Chan at el. (1996) examined the effect of public information on
the volatility and found that the daily volatility of European stocks are more than American matching stocks to
accrue before the end of the European business day. They said that public information affect volatility and
investors are more willing to trade at the open market when competing exchange is open. The reasons may be
opening prices are less noisy or trading is cheaper because of competition. Their findings also revealed that the
daily volatility of European stocks accrues during the early morning than for American stocks with similar
daily volume and volatility. Bid-ask spreads are also larger in the morning for foreign stocks relative to later in
the day because there is more uncertainty about demand.
Foester and Karolyi (1999) revealed that the volatility of the firms share prices in their local markets declined
significantly after cross-listing. While in the study of Barclay et al (1990) it was found that there no effect on
the level of return variances of 16 US stocks listed on Tokyo Stock Exchange. But in case of the study done by
Kumar.... on the Indian stocks it was revealed that there was no significant impact of foreign listings on the
securities listed through DR programs in the major foreign stock exchanges on the volatility of the underlying
domestic shares of the foreign listed Indian firms. Newton et al (1998) studied Brazilian ADRs and suggested
that ADR listings reduced the volatility of the underlying domestic stocks. Karolyi (2002) showed the cross-
listing from emerging markets does not have a favourable impact on the development of the emerging capital
markets. He further evidence that the process of international market integration through international cross-
listings is more complex with unexpected negative side effects related to the quality of the home market.
Reese and Weisbach (2002) examined the relationship between cross-listing, shareholder protection, and
subsequent equity offering and they found that firms from countries with weak shareholder protection are
willing to cross-list and hence give up some private benefits of control because of stringent U.S. securities laws
as they need to raise equity capital. Hargis and Ramanlal (1998) conclude that international cross-listings
have a positive effect on home market trading volume. Sanvicente, A. Z. (2001) showed that ADR listing does
not cause order flow migration but there has been eventual declines in the volume traded in the domestic
market which were compensated by trading in the ADR market, meaning that there has been migration to the
latter market, or are more than compensated by new trading in the ADR market. Ting and McInish (2002)
showed that trading in Malaysia is significantly lower on Singaporean holidays than on days that are not
Singaporean holidays during the period of study. He further tested the order flow diversion hypothesis and
found that after the termination of trading of Malaysian shares in Singapore, trading volume increased
significantly in Singapore, but not in Malaysia.

OBJECTIVES OF THE STUDY
1. To evaluate the volatility of security listed through ADRs.
2. To open new vistas for further research.

RESEARCH METHODOLOGY
The main purpose of the study is to examine the impact of the international listings of Indian securities on the
volatility of underlying stock in the domestic market due to their listing in the New York Stock Exchange. The
study was descriptive in the nature and the total population includes the securities listed through Indian ADRs.
Hence the Indian ADRs are the sampling elements and the sampling frame of the study was from 2000-2007.
The quota sampling technique was used to analyze the data. The sample size includes nine Indian ADRs which
are listed in New York Stock Exchange (NYSE). The event-study methodology was used for analyzing the
impact of international listing on the volatility of the sample stock. The stock price volatilities after listing were
compared with their volatilities prior to the international listings. Daily prices of individual ADR-listed
securities for an event window of 100 days before and after listing were taken from the official website of NSE
and BSE. The pre-listing period starts 100 days before the listing day to 1 day before the listing and the post-
listing period is from 1 day after the listing to 100 days after the listing. Data was analyzed through standard
deviation and F-test.
Ho= There is no significant difference in volatility of particular stock at Pre-Listing & Post-Listing period.

RESULTS AND DISCUSSIONS
The volatility of the stocks which means the relative rate at which the price of a security moves up and down is
shown in table 1. The table reports about the standard deviation before and after listing of the individual stocks.
While the F-test was applied to determine whether there is a significant difference between the pre-listing and
post-listing volatility of the individual securities.


Table 1: Comparison of Volatility based on Standard Deviation of individual Stocks before and after
listings

Stock
Name

Standard Deviation F-test
(5%
significance)
Pre-
Listing
Post-
listing
ICICI BANK LTD 5.574858 3.413863 2.666708
VSNL LTD 5.735158 8.221488 2.054992
WIPRO 5.01998 4.680511 1.150271
DR. REDDY LTD 2.592294 2.930159 1.277656
HDFC BANK LTD 2.465002 2.091897 1.388526
SATYAM
COMPUTER LTD
5.674544 4.851607 1.368015
TATA MOTORS LTD 2.867651 3.245168 1.280625
PATNI COMPUTER
LTD
2.361242 2.025538 1.35894
STERLITE
INDUSTRIES LTD
2.659836 3.831426859 2.074969

The result on the basis of standard deviation shows that three companies namely, VSNL Dr. Reddy and Sterlite
Industries Ltd. are more volatile after listing. While from the sample, six companies are less volatile after their
listing in the international stock exchange. For the given values of F, the values of ICICI Bank Ltd. (2.666708),
VSNL (2.054992) and Sterlite Industries Ltd. (2.074969) are more than the Standard value, 1.39, at 5% level of
significance, so the null hypothesis in that case is not accepted. This shows that there is significant difference in
the post and pre listing volatility on these stocks while the combined effect is not significant. The results of the
study are similar to the study of Newton et al (1998), Rodrigues et al (1999), Costa et al (2000) and Kumar
(2006) which indicates that the volatility of the underlying domestic stock have been reduced due to
international listings.

CONCLUSION
The globalisation of the Indian capital market has changed the present scenario of the capital market and it is
reflected in the best international practices followed by the stock exchanges of India. This integration of the
capital market is also beneficial for the companies as most fund managers consider there is institutional interest
in international listing. The international listings help a company to target new shareholders for fresh capital.
Though, all cross-border listings are not beneficial in institutional interest as there always the possibility that a
share placement might affect liquidity and share price in the domestic market. The proposed study concluded
that international listings have differential effects on the volatility of underlying stocks in the domestic market.
The study also revealed that volatility has been declined for the sampling elements that were listed through
Depository Receipts Program in the NYSE during 2000-2007. Although international listing has widened the
market for both the companies and the investors but it has differential effects for the companies also.

REFERENCES:
1. Admati, Anat R., and Paul Pfleiderer (1988). A Theory of Intraday Trading Patterns: Volume and Price
Variability. Review of Financial Studies, 1, 3-40.
2. Asli, Bayar & Zeynep Onder (2005). Liquidity and Price Volatility of Cross-Listed French Stocks. Applied
Financial Economics, 15, 1079-1094.
3. Barclay, M.J., R.H. Litzenberger and J.B. Warner (1990). Private information, trading volume, and stock-
return variances. Review of Financial Studies, 3, 223-253.
4. Chan, K.C., Wai-Ming Fong, Bong-Chan Kho and Rene M. Stulz (1996). Information, trading and stock
returns: Lessons from dually-listed securities. Journal of Banking & Finance, 20, 1161 1187.
5. Chelley-Steeley, Patricia, (2003). The Trading Mechanism, Cross-Listed Stocks: A Comparison of the
Paris Bourse and SEAQ-International, Journal of International Financial Markets, Institutions and Money,
13(4), 401-417.
6. Costa, N.D. Jr., R.P. Leal, C.F. Lemme & P. Lambranho (1997). The Impact of Cross-Listings: An Event
Study of Brazilian ADRs. Tenth World Productivity Congress World Confederation Of Productivity
Science, School Of Industrial Engineering, Universidad Del Mar.
7. Domowitz, Ian, Jack Glen, and Ananth Madhavan (1998). International Cross-Listing and Order Flow
Migration: Evidence from an Emerging Market. Journal of Finance, 2001-2027.
8. Foerster, S.R. & G.A. Karolyi (1999). The Effects of Market Segmentation and Investor Recognition on
Asset Prices: Evidence from Foreign Stocks Listing in the United States. Journal of Finance, 54, 981-242.
9. French, K.R. and Roll, R., (1986). Stock Return Variances: The Arrival of Information and the Reaction of
Traders. Journal of Financial Economics, 17, 5-26.
10. Hargis, K., and P. Ramanlal (1998). When does internationalization enhance the development of domestic
stock markets? Journal of Financial Intermediation, 7, 263-292.
11. Houston, J.F. and Ryngaert, M.D., (1992). The Links between Trading Time and Market Volatility.
Journal of Financial Research, 15, 91-100.
12. Karolyi, G. Andrew (2002). The Role of ADRs in the Development and Integration of Emerging Equity
Markets. Working Paper. Ohio State University.
13. Kumar, Manoj (2006). The Impact of Indian Overseas Listings on the Volatility of the Underlying Shares.
Retrieved from http://ssrn.com/abstract=951657 on May 20,2008.
14. Oldfield, G. and Rogalski, R.J., (1980). A Theory of Common Stock Returns over Trading and Non-
Trading Periods. Journal of Finance, 35, 729-751.
15. Newton, C.A.C. Jr., P.C.R. Leal, F.L. Celso & P.L.P Lambranh (1998). The market impact of cross-listing:
the case of Brazilian ADRs. Emerging Markets Quaterly, 2, 39-45.
16. Pasquariello, Paolo, Yuan, Kathy and Qiaoqiao Zhu (2005). Currency Market Timing and International
Capital Structure: Evidence from ADR Issuances. Retrieved from
www.ccfr.org.cn/cicf2005/paper/20050201110616.PDF on April 31, 2008.
17. Reese, William A. and Michael S. Weisbach (2002). Protection of minority shareholder interests, cross-
listings in the United States, and subsequent equity offerings. Journal of Financial Economics, 66, 65-104.
18. Sanvicente, Antonio Zoratto (2001).The market for ADRs and the quality of the Brazilian stock market.
Retrieved from http://ideas.repec.org/p/ibm/finlab/flwp_42.html on May 22, 2008.
19. Stoll, H.R. and Whaley, R.E., (1990). Stock Market Structure and Volatility. Review of Financial Studies,
3, 37-71.
20. Ting Lau, Sie; McInish, Thomas H. (2002). Cross-listings and home market trading volume: the case of
Malaysia and Singapore. Journal of Financial Research, 25(4), 477-484.


ANNEXURE
Table 1: List of Indian ADRs listed on New York stock exchange
S. No. Companies/Securities Listing Date
1 ICICI Bank Ltd. 28 Mar 2000 (IPO)
2 VSNL
15 Aug 2000 (ADR)
3 Wipro 19 Oct 2000 (IPO) (ADR)
4 Dr. Reddy Ltd. 11 Apr 2001 (IPO) (ADR)
5 HDFC 20 Jul 2001 (IPO)
6 Satyam Computer Services Ltd. 15 May 2001 (IPO) (ADR)
7 Tata Motors Ltd. 27 Sep 2004
8 Patni Computer Ltd. 08 Dec 2005 (IPO)
9 Sterlite Industries Ltd. 19 Jun 2007 (IPO)



MANAGEMENT OF STRATEGIES FOR GLOBAL BUSINESS

By- Govind B Dave Sr.Lecturer Anand Institute Of Management

INTRODUCTION
Brands sell. Brands endure. Brands are strategic assets. Brand building, as companies know it today has
long been acknowledged as the key to wealth creation. The proliferation of consumer goods in the last two
decades has led to the development of branding as the essential definitive tool for competitive differentiation.
Technology has never really played a great role in the success of commercial enterprise branding until very
recently. It is because technology is so freely available that products parity is easily achievable. In todays
emerging competition, size no longer matters and location is not the mantra of retailing. Standing out from
the crowd is an even bigger challenge than before as more and more players crowd onto a more level
playing field.
The key to standing out from the crowd is still the development of a powerful brand image, but the
nature of branding has itself been forced to change. What is emerging from this metamorphosis is a new kind of
brand experience of the consumer, offering hi-tech and hi-touch brand interaction.

WHAT IS A BRAND?
Many companies have learned to their sorrow that brand is not just trademark, product, logo, symbol or
name, but it is a name of marketable product to which relevant and unique set of associations and benefits, both
functional and emotional are attached. The crores of rupees companies spend on corporate identify projects are
often wasted because there is no brand strategy behind them. Thus, consumers experience the same dull and
irritating service, mediocre or sub-quality products and a less-than-satisfactory customer experience. Similarly,
having a good name does not guarantee success, as companies like HLL and P&G discovered by their
experience. Many other companies have placed their faith in the advertising rupee, hoping that mass
communication will do the trick. There are still many that do not realize that all of these elements are necessary
but not sufficient to produce a great brand.
One of the most useful comments on the difference between mere products and brands is attributed to
Stephen king, who said: A product is something thats made in a factory, a brand is something bought by
consumers. A product can be copied by a competitor, a brand is unique. A product can be quickly outdated; a
successful brand properly managed, can be timeless.
Brands provide:
A choice
A means of simplifying the decisions
Quality assurance
Risk avoidance
Self expression
o Social status
o Success
o Aspiration
o Love and Friendship
o Personality
BRAND EQUITY
Brand Equity is the combination of ad-awareness, ad-viewer ship, image or perceived quality and
association of symbol in consumers mind.
The brands in life line is the brand equity. If a brand generates sharp and highly focused association in
consumers mind, then it has got equities. The equity is not built just by advertising but combination of
ad, product and distribution.
It is the totality of the brands perception, including the relative quality of the products and services,
financial performance, customer loyalty, satisfaction and overall esteem towards the brand. Brand
equity relates to how the customers, employees and all the stakeholders feel about a brand.
The brand equity can be studied under three approaches like cost based, price based and consumer based.
Cost Based
Historical cost
Replacement cost
Market value
Discounted cash flow
Brand contribution
Inter-brand method
Price Based
Price premium
Equalization price
In different price
Consumer Based
Brand knowledge
Attitude rating
Blind test

BRAND LOYALTY
Loyalty is at the heart of equity and is one of the important brand assets. Brand loyalty is a conscious or
unconscious decision expressed through intention or behavior to repurchase a brand continually. When the
consumer buys with respect to products features, price and convenience, with little concern to the brand there is
likely little equity. But, if the consumers prefer the brand even at the face of competitors with superior features
and offers, then brand is said to have high brand equity. Loyalty reflects the consumers attitude towards the
brand, especially when there is a change, either in price or product features. As the brand loyalty increases, the
vulnerability of the customer base to competitive action gets reduced.
Each level of brand loyalty provides different equity to the brand. Marketers adopt various strategies
and programs at different levels with the objective of creating trusted loyal customers.













LOYALTY REDEFINED
In the relationship world, when we speak of loyalty we are ultimately speaking of commitment.
Although it is tempting to define loyalty as simply repurchase, marketers often have little power over the
variables and constraints directly controlling how customers pass through the purchase environment. In
addition, repurchase is only one of several outcomes that can be described as loyal behaviors; some refer to
sales volume and share, and some to profitability.
A Dave Aaker states in his recent Planning Review article Managing the Most Important Asset: Brand
Equity, strong brands certainly have loyal customer. But are such brands fully taking advantage of the benefits
these customers offer? From customers perspectives, loyalty is an intuitively adopted strategy, to maximize the
value of their consuming skills and win the cost/utility game (reduce risk, increase information processing
effectiveness, and gain tangible frequent-user benefits).

WHY BRAND LOYALTY?
Brand Loyalty and its Strategic Importance







NEED FOR BUILDING BRAND LOYALTY
Brand Loyalty
Reduced Marketing Costs
Trade Leverage
Attracting New Customers
Time to Respond to
Competitive Threats





PRICE SENSITIVE
HABITUAL
SATISFIED
FRIEND
LY
COMMIT
TED
LEVELS OF BRAND
BRAND LOYALTY
BRAND PREFERENCE
BRAND
ACCEPTIBILITY
BRAND
Modern customer considers himself as an individual with a unique set of characteristics and resent
being seen just as a part of the universe.
Tremendous sense of freedom and choice has become more unpredictable in their tastes, preferences
and needs
New age customer is empowered with the knowledge of his options. Customers have more information,
more choices, as a result higher expectations
Phenomenal changes in demographic, psychographic, geographic aspects, and change in the attitude
lead to high level of involvement and expectation from products and services.
Customers now want companies to provide something beyond high-quality products and reliable
service. They want more of human dimensions in transactions.
Consumers Will Pay Premium Prices for Better Products
Ninety-six percent of consumers say they will pay a premium to buy at least one type of product.
Almost half will pay as much as they can for certain items.
Seventy-six percent say some products are just too important to scrimp on.
Fifty-one percent say that even when the economy is bad, they will spend on affordable luxuries.
Fifty-eight percent concentrate spending on a few categories that matter the most to them.
Source: BCG Harris Interactive Survey of Adults with More Than $50,000 in Household Income, November 20002.

A PERFECT SQUARE / CUBE
Demand Drivers Supply Drivers
Higher real incomes Entrepreneurs on personal journeys
Rising home values
Changes in the dynamics of
retailing
Cash windfall courtesy of discount
retailer
Access to flexible supply-chain
networks and global resources
Role of women and changing family
structure

Higher levels of taste, education, and
experience
Emotional awareness and
permission to spend
Source: BCG Analysis








B
R
A
N
D
L
O
Y
A
L
T
Y
TRADITIONAL VIEW








RELATIONSHIP VIEW












Source: Jeff Hess and John W. Story, Fidelity Factor, Marketing Management, Nov. Dec. 2005,pp.47


BRAND REPOSITIONING: A STEP TOWARD BRAND LOYALTY
Repositioning or repositioning is changing the positioning of a brand. With a particular positioning, a brand
may work say 3-5 years & then sales start declining. In case of Cadburys one particular positioning For kids
worked for 23 years (1970-1993). Similarly the positioning like Tandurusti Ki Raksha worked for Lifebuoy
for 40 years (1960-2000 AD). However the brands which were launched in 1990s & 2000s require re-
positioning due to changing need of consumers. If a marketer does not respond quickly to market needs, the
brand may perish. A brand could be repositioned in following ways.
Increasing relevance to customer
Highlighting more occasions for usage
Identification of appropriate position
Making the brand serious
To counter attack on falling sales
Inducing or creating new customers
Highlighting as most contemporary brand
Satisfa
Functi
onal
Brand
image
Service
and
Product
and
Satisfaction
Functional
Connection
Brand image
And reputation
Service and
guarantees
Product and
pricing
Trust
Personal
Connection
Commitment
Differentiating with competitors brands
To sustain changed market conditions

Sr
No.
Company Product Brand Earlier
Positioning
Repositioning
1 Cadburys Drinking
Chocolate
Cadburys
drinking
chocolate
Beverage before
going to bed
like, good
night cap
Happiest time of
the day since you
may consume
anytime
2 Cadburys Dairy Milk
Chocolate
Cadburys
Dairy Milk
Fun for kids Anybody
anytime, Khane
walonko khane
ka bahana
chahiye
3 Parle Biscuits Monaco
Biscuits
Perfect salted
(plain)
Excellent plain,
Terrific with
Toppings (plain
& Topping)
4 Paras Pain Bam Moov Waist ache Waist & back
ache
5 P & G Pain Bam Vicks Body Pain Cold & pain
6 Knoll Cream Burnol Curing burns Cures burns, cuts
& gashes, thus 3
in 1
7 R & C Antiseptic
Liquid
Dettol Prevents cuts,
gashes from
developing
sepsis
After-shave,
washing babies
clothes
8 Balsara Cream Odomos Indoor Indoor &
Outdoor
9 Tat chemicals Soap Sunlight
washing soap
Whiteness soap For coloured
clothes also
10 Titan Watches Sonata, Raga Watch with
Elegance
Watch as a gift
11 P & G Cough Drops Vicks cough
Drops
Cough drops Adult candy
12 Nokia Handset Nokia Mobile Perfect Mobile Mobile phone
Telephone
service
plus torch
Source: M. V. Kulkarni, Managing Brands Over Time, Brand Positioning & Consumer Behaviour, Brand Marketing Management, Everest Publishing House, pp.
201

PERSPECTIVES ON CUSTOMER LOYALTY
Loyalty as primarily an attitude that sometimes leads to a relationship with the brand.
Loyalty mainly expressed in terms of revealed behaviour (i.e. the pattern of purchases)
Buying moderated by the individuals characteristics, circumstances and / or the purchase situation.

LOYALTY RESEMBLES HABIT
What gives poignancy to the concept of customer loyalty is the supposed justification it gives for
managers to spend dollars on CRM programmes and the costly customer databases that support these.
However, the critics argue that loyalty, both attitudinal and behavioural, for most customers is quite passive and
resembles habit rather than serious commitment. And also, they assert, that there is little or no evidence that
any changes in customer behavior justify the enormous expenditure on these programmes.

Supporters of loyalty programmes have in mind Model 1, where the programme is seen to reinforce
CBC type outcomes. Or they envisage a combination of Models 3 and 1, where customers with no loyalty
(CBB types) are converted into single brand loyal (CBC type) because of the customer benefits of the
programme. Critics favour the multi-brand divided loyalty model (Model 2) and assume that most of the
customers are CBA type who are not strongly swayed by the programme.

TRUST BUILDS BRAND LOYALTY
CUSTOMER SATISFACTION, DELIGHT OR TRUST!!!
CUSTOMER SATISFACTION
Satisfaction reflects a persons comparative judgments resulting from a products perceived
performance (or outcome) in relation to his or her expectations. If the performance falls short of expectations,
the customer is dissatisfied and disappointed. If the performance matches the expectations, the customer is
satisfied.
CUSTOMER DELIGHT
If the performance exceeds expectations, the customer is highly satisfied or delighted.


CUSTOMER TRUST
Trust is at the center of customer relationship phenomena, and is the key to understanding relationship[s
of a personal character. Trust is an acknowledgement of brand motivation. Its the powerful idea that a brand
has its customers best interests in mind, and that itll do whatever it takes to make them happy. Trust lives in
the dissatisfied customer happily marching into a favorite store, fully expecting a swift and peaceful resolution;
it is absent in the dissatisfied customer anticipating conflict and aggravation.

TRUST-BASED COMMITMENT MODEL









Source: Jeff Hess and John W. Story, Fidelity Factor, Marketing Management, Nov. Dec. 2005,pp.47
BRAND LOYALTY THE ROAD AHEAD
Position Brand Loyalty to the center of strategic planning. To be truly effective, customer loyalty must be at
the heart of your overall business strategy and not just an add-on to your marketing strategy. It must be the
driving force behind your enterprise.
With customer loyalty at the center of your business strategy, it is embedded in everything you do.
Living the brand becomes a clearer organizational driver. And all other strategies are developed with the
explicit starting point and end goal of customer loyalty (and its array of behaviours and attitudes). (See the
below figure) Resources are reallocated, not added on.
Does this mean abandoning your other business strategies? Absolutely not. Whirlpool Corporation, in
its 2004 annual report, articulated how customer loyalty had become the core of its strategy, executed through
its operations and organizational strategies: Moving the core of our strategy to the next level means focusing
our efforts on creating unmatched levels of customer loyalty for our brands world-wide. Wining and
retaining customers, we believe, is increasingly based on the reputation of our brands and the experience
consumers have with them over their lifetime of ownership. The ability to earn this loyalty requires that we
consistently provide consumers with innovative solutions to meet their daily needs and lifestyles. We must
provide them with high-quality, competitively produced products that deliver, and build upon, the positive
experience during each step of the ownership cycle. We do this by partnering with the best added value trade
partners and service providers. We also are increasingly staying in touch with our customers by connecting
with them directly during their ownership and building this brand relationship over time.
Whirlpool described how every aspect of its business is responsible for customer loyalty, including
product development, quality, experience management, relationship management, trade partners, service
providers, culture, and values.


Brand
Behaviors
Trust
Satisfaction
Personal
Connection
Functional
Connection
Customer
Behaviors
Relationship
Conditions
Relationship
Conditions









Source: Lawrence A. Crosby and Sheree L. Johnson, The Heart of your Strategy, Marketing Management, Sep. Oct. 2005, pp.13































Operations
strategy
Quality
Strategy
Customer service
strategy
Communications
strategy
Product
strategy
Human resources
strategy
Customer
loyalty
PITCHING TO THE RIGHT CUSTOMERS THE CARREFOUR WAY

By- Dr. U. K. Neogi, Director
Peoples Institute of Management & Research
"For Wal-Mart, Carrefour is the ideal target. Carrefour's business-to-consumer strategy is much more ambitious than its
competitors"
Laurence Hofmann, an industry analyst at Societe Generale in Paris

MAHATMA GANDHIS DEFINITION OF CUSTOMER
A customer is not an outsider to our business. He is a definite part of it. A customer is not an interruption of our
work. He is the purpose of it.
A customer is doing us a favour by letting us serve him. We are not doing him any favour.
A customer is not a cold statistic; he is a flesh and blood human being with feelings and emotions like our own.
A customer is not someone to argue or match wits with. He deserves courteous and attentive treatment.
A customer is not dependent on us. We are dependent on him.
A customer brings us his wants. It is our job to handle them properly and profitably - both to him and us.
A customer makes it possible to pay our salary, whether we are a driver, plant or office employ
- Gandhi
KEY NOTE
To increase the market share, it is pragmatic to pitch to the right customer at the right time, with the right
product at the right place.


Background of Carrefour
France based Carrefour, is today the first largest international retailer in Europe and the second largest in the
world (after Wal Mart). Carrefour means junction or crossroads, in French.It was the visionary approach
insight and careful market study of Fournier and Defforey families (Marcel Fournier and Denis Defforey) that
brought into existence the Carrefour Group in 1957.
The concept of Hypermarket is the gift of Carrefour group.Its first hypermarket came up in France in 1963
and it spread out globally beginning its first hypermarket in Belgium in 1969. Today Carrefour operates in 29
countries and regions and has about 14,991 stores.
The three major markets are Europe, Latin America and Asia. . It is popular in Columbia, Brazil, Dominican
Republic, Argentina and UAE, the domestic market being in France.
Market Survey
Proper market survey goes a long way in determining which type of customers and in which areas or regions,
would be interested in buying the product that is offered for purchase.
Similarly, the nature of related services required for the marketing of the product is decisive in studying the
response of the customers.

Customer Needs
The idea is straightforward - if the product/service caters to the needs of the customers, they will use it. The
needs here do not necessarily mean utility. Some of the customers simply buy the product which is marketed
well and because the service offered persuades them to go for it; may be because the schemes related or the
discounts given attract them. You can take a look back at your customers and very quickly determine the
characteristics of those most likely to purchase your product or service. Why is this important? Which class of
customers would react to a given set of conditions in a certain manner favourable to our product/ service would
mean the product/service is half-sold.

Types of buyers
It must be understood that the fiscal buyer i.e. one who decides the budget expenditure for the product, the
practical buyer, i.e. the one who checks the features of the product and decides if it will solve his challenge and
cater to his requirement and the consumer buyer i.e. the one wholl use the product, may all be different people
. This important difference must be kept in mind while ascertaining the target customer.
STRATEGY TO APPROACH TO THE RIGHT CUSTOMERS
Keeping the features of the product in mind, studying the market conditions

Identifying which would be the target market after proper market survey

Determining if the fiscal buyer, the practical buyer an the consumer buyer for a
product are the same or different people

Catering to the requirements of all the above three

Improving upon your product, keeping in mind the demands associated
How Carrefour attracts and retains customers


Freedom of choice to customers
Prices consistent with purchasing power of customers
Strengthening of loyalty programs to ensure that they reflect the latest consumer and social trends.
Signing a set of specifications, approving production sites and product control plan, processing and
archiving any con-compliant products and following up of customers claims.
Quality Scorecard available on the groups intranet site enables all the countries to track products at
every stage of their marketing and to react more efficiently in case of a crisis.
Conduction of audits on its suppliers production sites, which are audited health and safety conditions.
Freedom of choice through product mix that includes major national brands, regional, own-brand, retail
banner and first price products.
Carrefour keeps its customers informed with safety icons, the use of which has been recommended in
every country around the world.
Regular monitoring conducted with the help of specialists, toxicologists and allergists for all textile
products.
Information on the packaging of its Carrefour brand non-food products.
Four criteria, symbolized by four icons, were adopted
(a) usage
(b) safety
(c) health
(d) environment or social conditions of production. The proper upkeep of stores and the
respect for the cold chain and food safety
Slogans for various Store formats


When a product or service becomes a tough sell, it is because people have obvious objections to it. The goal
then should be to frame an offer to get rid of the objection.
If customers are not buying, it is, more often than not, an indication that a company is targeting the wrong
people. We all know the saying about one mans trash being another mans treasure, and you just need to find
the man who treasures your trash.
To find that man, a firm must study its market and customers, figure out why its product is or is not clicking
with certain segments, and decide what buttons it can push to get targeted customers excited. Believe me
going; through a systematic, rigorous process of segmentation, targeting and positioning an age old
marketing approach is much easier than finding a man who loves your trash.
A selling job is always difficult if you dont really know your customers well and if you simply make
projections on your own experience and intimation.
Consumers are often ready to indulge themselves when marketers are able to get their message through.
Even a product that is a little bit bad for you like clothing you dont actually need. It is about wants and
desires.

Carrefour readies plan to enter India's retail industry

The $130 billion French retail chain Carrefour has set up a 100 per cent-owned arm to enter the wholesale
merchandise business in India and will opt for the franchising route to open multi-brand retail stores in the
country. The world's second-largest retail chain with presence in more than 29 countries, Carrefour intends to
open the first cash and carry or wholesale store on its own by the second half of 2009.
"Carrefour WC&C India is its 100-per cent subsidiary and will set up the cash and carry business in India.
Carrefour Group are planning one or two stores by the second half of 2009 and add more as the business
grows," said Managing Director Herve Clec'h.
Hypermarkets
Supermarkets
Hard Discount
Convenience Store

Cash & Carry
"The prices people want, close to home"
"Grocery products at low, low prices"
"Just what you need, right next door"
"Choice and quality for everyone"
"Proximity and accessibility for catering professionals"
Carrefour hopes to finalise the Indian franchisee for the multi-brand retailing business, in which no foreign
equity is permitted in the country, over the next couple of months, added Gerard Freiszmuth, general manager
for Carrefour India.

India presently permits up to 51 per cent foreign equity in single-brand retail trade business but disallows
foreign equity in multi-brand stores in a bid to protect domestic stores, predominantly run as neighbourhood
mom-and-pop shops.
Study of Carrefour with WALMART, the Retail leader in the race of being the first choice of
customers

STRENGTH
Carrefour
1. Market leader
2. Aggressive marketing and
adaptable
business model

3. Brand recognition

4. Focus on competitive prices
5. Increasing cash flows from
operations

WALMART
1. Worlds largest retailer

2. Powerful retail brand

3. Globally expanded

4. Core Competency in use of
Information technology
5. Focused strategy for HRM & HRD

6. One of the biggest provider for
U.S.A


WEAKNESS
Carrefour
1. Stagnant sales in France

2. Declining profitability

3. Losses for Ooshop.com





WALMART
1. Presence in few countries
2. Huge span of control

OPPORTUNITIES
Carrefour
1. Strong growth potential in Asia

2. New stores


THREATS
Carrefour
1. Stiff competition from discount
retailers in France

2. Increasing labor costs in Europe
WALMART
1. Focusing on specific markets like
Europe & Greater China region
2. Tremendous opportunities exist for
exploiting the consumer markets-
China and India.
3. Opportunities exist to continue with
their strategy of super-centres.


3. Poor retailing outlook in the Euro
zone

WALMART
1. Being number one the target of
competition globally and locally.
2. Political problems in the country
you operate.
3. Intense price competition.


STRENGTH ANALYSIS
CARREFOUR
Carrefour understands the dynamics of local market and adjust its retail formats in accordance to it. Its
aggressive marketing coupled with adaptability helps in creating new markets.
Besides retailing, it sells product under different brands of its own. The company can boast of 90% brand
recognition rate, with its own branded products accounting for 18% of its worldwide sales. The brand salience
for the company is high.
Carrefour focus on giving competitive prices to customers that has helped the company to sustain its leadership
position as well as combat the local competition.
The ability of the company to generate higher cash flows from its operations suggests increasing operational
efficiency.
WALMART
Wal-Mart is a powerful retail brand. It carries a reputation for value for money, convenience and getting
different products under one roof.
It has grown exponentially and has experienced global expansion.
The companys core competence is the application of information technology to support its international
logistics system. It also supports Wal-Mart's efficient procurement.
It has a focused strategy for human resource management and development. People are most important for
Wal-Mart's business and it invests time and money in training people, retraining and
developing them.
Wal-Mart's phenomenal growth has been an engine for making jobs. In 1995, the company created 85,000 new
Wal-Mart jobs and supported thousands of U.S. manufacturing jobs. More than 600,000 Americans work at
Wal-Mart.

WEAKNESS ANALYSIS
CARREFOUR
Carrefours French market share has slipped, taken a back seat by competition from closely held companies at a
time when the French government is pushing retailers to cut prices.
The companys inability to invest in further growth is inhibited by declining profits which was experienced in
the companys domestic market.
The companys inability to profitably run Ooshop (online shopping business) is a burden on its
Bottom line.

WALMART
Wal-Mart has a huge span of control which has brought some weaknesses in the system.
Though the company is global, but it has a presence only in relatively few countries worldwide.

OPPORTUNITIES ANALYSIS
CARREFOUR
There is considerable growth opportunity for the company in the Asian region. They are high in population and
increasing purchasing power. Carrefour is buying stores and these new stores would help the company to attract
a larger number of customers and thereby boost revenues.

WALMART
Forming strategic alliances with other global retailers, it is strongly focusing on specific markets such as
Europe and the Greater China Region.
There are tremendous opportunities for future business in expanding consumer markets, such as China and
India.
New locations and different store types offer Wal-Mart a lot of opportunity to exploit market development.
They have diversified from large super centres, to local and mall-based sites.
There is an opportunity to continue with its current strategy of large, super centres.

THREATS ANALYSIS
CARREFOUR
The Government regulation is the main cause of Carrefours troubles in France. The government has passed
legislation to offer the same price to retailers but different to discount stores. Due to discount retailers the
company is gaining a bad repute for its prices.
Europe (including France) is the primary market for Carrefour, the market has been witnessing an increase in
labor costs. An increase in labor costs in its most significant market can adversely impact Carrefours bottom
line.
The sales figures for most retailers in the Euro zone declined, which has lead in high inventory. If the trend
continues, it would be a biggest cause of significant dent in the profits of large retailers like Carrefour, for
whom Europe is the primary market. To increase their top line the retail chain have to offer discounts and other
promotions to pep up their flagging sales, undermining their margins in the process. The other cause is the
increase in the purchase price has directly affected their margins.

WALMART
WALMART is the target of competition, locally and globally as it is number one in its field.
Global retailer means that you are exposed to the different political problems of the different countries.
The Intense price competition is a threat as the manufacturing cost have fallen due to outsourcing to low-cost
regions of the World .It has lead to price competition, resulting in price deflation in some ranges.
REFRENCES
Online websites

www.walmart .com
www.carrefour.com
http://en.wikipedia.org/wiki/Wal-Mart
www.walmartstore.com
www.walmartfacts.com
www.thehindubusinessline.com
www.researchandmarkets.com





















ANALYTICAL STUDY ON T-20 IS IT A REAL CRICKET?
By- Kamran Hussain, Imran khan, Obaid Iqbal, Neha Rai, Rajnjana Dubey, Chetna garava, Ish Gupata
Guided by Dr. U k Neogi, Director





Abstract: - Twenty20 a fun loving entertainment game with high controversies. Study of
t20 shows that t20 is a game with high expectations. Its always in limelight because of
many factors such as sponsorship, cheerleaders, loss of skill etc.

Keywords: - Proactive, Loopy, Critics, Aggregation, Relevant, Sublime,
Maestro, Substantial, format.


OVERVIEW ON CRICKET OVERVIEW ON CRICKET OVERVIEW ON CRICKET OVERVIEW ON CRICKET

Cricket is an outdoor game played between the 2 teams, each team consists of 11 players. One
team bowls and the other bats. The highest scoring team is the winner.
Initially the game has started from UK and gradually spread all over the commonwealth
countries, especially to India as a most popular game. It has three formats:

1. Test Cricket (18
th
century onwards)
It last for five days consisting of two innings, scheduled of having 90 overs a day.
2. One day cricket (From 1974 onwards)
Its a 50 over game for each team and to be completed within 6 hours on the very day.
3. Twenty20 (From2007onwards)
Twenty20 is the format in which 20 over is allotted to each team for batting. The main
aim of Twenty20 is to encourage the entertainment level.









COMPARISON BETWEEN THE THREE FORMS OF CRICKET



S.No. Points of
similarity/
Difference
Test cricket One day
cricket
Twenty20
cricket

1. History 18
th
Century
onwards
1974 onwards 2007 onwards
2. No. of days 5 days max. 1 day 1 day
3. Max. duration Approx. 5.5
hours
Approx. 06
hours a day
Approx. 2.5
hours a day
4. No. of overs 90 overs per
day
50 overs for
each team
20 overs for
each team











TWENTY 20 TWENTY 20 TWENTY 20 TWENTY 20
Twenty20 is a proactive decision of International cricket council, known as ICC for promoting
cricket in those countries where cricket was not popular (like United States of America, China,
Canada etc). Twenty20 game is completed in about two and a half hours, with each innings
lasting for 75 minutes, thus, bringing the game closer to the time spam of other popular team
sports such as soccer, rugby, basketball etc.
INTERNATIONAL
CRICKET
TEST MATCHES
ONE DAY
INTERNATIONAL
(ODI)
TWENTY20
The inaugural World Cup T20 was played in South Africa in 2007 with India becoming the
World champion defeating Pakistan in the final. The Indian premier league is currently the
largest and most popular in terms of physical attendance and in TRP. IPL is the corporate world
in cricket, big corporate houses like Kingfisher, Redchillies, GMR group etc are buying there
own IPL teams. The sponsorship level is more encouraging in T20 as compared to other
formats.
The youth of today has demand for entertainment, they want optimum utilization of there
leisure time, Twenty20 provides them with this sort of entertainment, IT consists of a fast
scoring game with cheerleaders dancing on each boundary scored or on each wicket that fall in
addition to this some of the big names of entertainment world like Shahrukh Khan, Preity
Zinta, Farha Khan, Arjun Rampal also comes to watch and encourage their favourite teams.
Rules to be followed in Twenty 20 Cricket: Rules to be followed in Twenty 20 Cricket: Rules to be followed in Twenty 20 Cricket: Rules to be followed in Twenty 20 Cricket:
1. Each bowler may bowl a maximum of 4 Overs.
2. If the fielding team doesnt finish bowling their 20
th
Overs within 75 minutes the batting
team is credited with 6 runs for every whole over bowled after the 75 minutes marks.
3. The following fielding restrictions apply in T20 :-
a. No more than 5 fielders are allowed on the leg side at any time.
b. During the first 6 Overs a maximum of 2 fielders can be outside the 30 yard circle.
c. After the first 6 Overs, a maximum of 5 fielders can be outside the 30 yard circle.
4. If the match ends in a tie, the result is decided with bowl-out.
5. If a bowler delivers a no ball by overstepping the popping crease the opposite team is
given one extra run and free hit in which batsman can only get out by a run out and not
by a bowler merit.

IS TWENTY 20 REAL CRICKET? IS TWENTY 20 REAL CRICKET? IS TWENTY 20 REAL CRICKET? IS TWENTY 20 REAL CRICKET?
This is a question which will always have a mixed opinion. According to some its good
for the game because it will teach a player new skills and improve existing ones, because the
game is so different, it takes innovation to succeed and thats good for the game while on the
other hand some feel its bad for the game as players will become lazy and loopy and will learn
bad habits, which will have a negative impact on the longer version of the game.
Some critics of T20 even feels that it is killing ODI as well as Test match cricket they compare
two world cups that were held in 2007 one was of 50 over which was the biggest flop in
consideration of poor attendance of spectators, off-field incidents in comparison to this the T20
World Cup was a big boom in world cricket as it bought lot and lots of money to the game or to
the ICC. Some feels that T2O is bringing aggregation in the game we can consider Harbhajan
Singh and Sreesanth case in this, Harbhajan Singh slapped Sreesanth after ending on a loosing
side in an IPL match. Apart from all these criticism one criticism that has nothing to do with
cricket but its the most spoken criticism that is the cheerleaders many sociologist (Specially
Indian sociologist) feels that the use of cheerleaders in cricket should be banned as it is
destroying our culture.
ARE SKILLS OF CRICKETERS GETTING ARE SKILLS OF CRICKETERS GETTING ARE SKILLS OF CRICKETERS GETTING ARE SKILLS OF CRICKETERS GETTING
DETERIORATED BECAUSE OF T 20? DETERIORATED BECAUSE OF T 20? DETERIORATED BECAUSE OF T 20? DETERIORATED BECAUSE OF T 20?
The batting and bowling skills are no longer relevant; it is now more about the power. Players
like MS.Dhoni and Yuvraj Singh are the stars of the new art, sublime artistry of VVS Laxman
is no longer appreciated. And the biggest sufferers will be the bowlers. Is this is the case why
young budding players go to nets to practice the cricket skills they should rather go to gym and
built their biceps so they can hit the ball to maximum distance.
If we compare Sachin Tendulkar, Rahul Dravid, VVS Laxman to some stars of Twenty20 like
MS Dhoni, Yuvraj Singh or some one like Rohit Sharma we will be able to see a difference of a
mature man and school boys on one hand these maestro of Indian cricket had made their name
in world cricket in both the forms of the game whether it is Test match or ODI but players like
Dhoni and Yuvraj still have a long way to go in these forms they havent done anything
substantial in it.
: Matches played by test playing Nations: : Matches played by test playing Nations: : Matches played by test playing Nations: : Matches played by test playing Nations:
Teams Matches Won Winning Percentage
India 10 06 60.00%
Pakistan 16 12 75.00%
Sri Lanka 12 08 66.66%
South Africa 14 09 64.28%
Australia 15 08 53.33%
West Indies 08 03 37.50%
England 14 06 42.85%
New Zealand 16 05 31.25%





: Most Career Runs: : Most Career Runs: : Most Career Runs: : Most Career Runs:
Players Runs Period
Misbah-ul-Haq 398 2007
Shoaib Malik 383 2006
Graeme Smith 364 2005
Kevin Petersen 363 2005
Andrew Symonds 337 2005

0
20
40
60
80
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Percentage%
398
383
364
363
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300
310
320
330
340
350
360
370
380
390
400
410
Misbah-
ul-Haq
Shoaib
Malik
Graeme
Smith
Kevin
Petersen
Andrew
Symonds
Series1

: : : : Highest Career Average: Highest Career Average: Highest Career Average: Highest Career Average:
Players Average Innings
Rohit Sharma 96.00 04
Junaid Siddique 71.00 01
Misbah-Ul-Haq 56.85 13
Andrew Symonds 56.16 10

Conclusion: - We can conclude this research by talking about the Merits and
Demerits of T20. T20 is a game which has a high level of entertainment but the former
cricketers and sociologist have negative point of view, they criticize the T20 in respect
of money invested, corporate interference cheer leaders and besides all these criticism
one criticism that has the biggest impact on the game will be the loss of skills, players
like Te












Average
0
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40
60
80
100
120
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Average
CASE STUDY: CHINAS ENTRY INTO WTO & ITS IMPACT ON INDIA
By- Dr. U. K. Neogi, Director
Peoples Institute of Management & Research


Overview
WTO (World Trade Organization), Headquarter at Geneva, Switzerland an international agency, encourages
trade between member nations, administers global trade agreements and resolve disputes when arise. There are
now 152 member nations. India became membership since January 1, 1995. The Republic of China acceded to
WTO in 2002 under the full extended name of Separate Customs Territory of Taiwan, Penghu, Kinmen and
Matsu (Chinese Taipei).
WTO came into effect on January 1,1945, and is the successor to the GATT(General Agreement on Tariffs and
Trade), which was created in 1947 and continued to operate for almost five decades as a de facto international
organization. GATT was the outcome of the failure of negotiating Governments to create the ITO (International
Trade Organization). Most of the WTOs current work relates to negotiations from 1986-1994, called Uruguay
Round. The Organization is currently the host to new negotiations under the Doha Development Agenda
(DDA), established in 2001.
WTO is governed by a Ministerial Conference which meets every 2 years- a General Council, which
implements the Conferences policy decisions and is responsible for day-to-day administration; Director
General who is the Head of the Organization, is appointed by the Ministerial conference.



Objectives of WTO
Removal of all barriers to international trade in goods, services and intellectual property
Equitable and speedy resolution of disputes between trading partners and
Identification of non-compliance with trade agreements

Background (Till the time of entry 2002)
Chinas foreign trade:
$202 billion in the late 1970s
$475 billion in 2000.
By 2000 its share of total world trade had sextupled as compared with 1977
As early as 1995 China had become one of the top ten trading countries in the world.
Total stock of foreign direct investment in China = 1/3 of the cumulative foreign direct investment in
all developing countries.

Share of total world exports
China 3.5%
India 0.6%
The above figures clearly depict the vast disparity in the export figures of the two countries. Indias share
is only 0.17 % of Chinas Exports.

China remains only partially integrated into the world economy in certain respects. The foreign invested firms,
which accounted for only about one-eighth of all manufacturing output, were responsible for almost half of all
of China's exports. High tariffs and an array of non-tariff barriers meant that some critical sectors of the
Chinese economy remain relatively insulated from international competition.
The principal benefit of becoming a member of WTO- the increased competition in China's domestic
market.
Even though this means certain short-term economic costs, the Chinese government would be in favour
of the vital consideration resulting in economic reform and development of a market economy.

The Indian Story

In spite of being a member of the WTO, India still has barriers to trade to safeguard the interests of
domestic industry and trade.

These restrictions are allowed by the WTO, but have to be gradually phased out.

The phasing out of the Quantitative Restrictions coinciding with the entry of China into the WTO shall
subject Indian industry to severe competition.

Indian industry has expressed concern that China would take advantage of subsidized power, low-
interest bank loans and lower labour costs in its own country to dump its products in India.

However, the fears of Chinese goods flooding the Indian market and driving Indian industry out of
business seem to be exaggerated.

There was no disproportionate rise in imports in 2000/01 in India because of the withdrawal of
quantitative restrictions.

China Joining WTO (2001)

On December 11, 2001, China officially became the 143rd member of the World Trade Organization (WTO) at
the culmination of a negotiation process that began in 1986.

One of the biggest effects of China's entry to the WTO, according to economists, is the relocation of
manufacturing and distribution centers to China. Due to its cheap labor, cheap industrial land, and educated
workforce, China has become an ideal production center for businesses based in outside countries. This has
resulted in a twofold impact more jobs are available in China, while countries like India which, historically
offered cheap labor, have suffered to a great extent. Taiwan and Malaysia's technology industries are already
suffering as companies like Dell Computers move production to China, while foreign investment has soared in
China.

In addition, Mexico and the Caribbean countries have lost thousands of garment manufacturing jobs as the U.S.
has lifted restraints on Chinese textile imports.

While the impact on Southeast Asia is negative, the Western world has benefited. Western countries benefited
from access to China's highly developed electronics and industry sectors. With duties and quotas slashed, and
restrictions lifted, multinationals benefited by setting up distribution centers without the need for Chinese
middlemen.

In addition, China has imported massive amounts of food products, machinery and vehicles from the U.S.,
Japan, Hong Kong, Taiwan, Singapore and South Korea, thus providing significant boosts to these countries'
economies.


Following are the implications of China joining World Trade Organization:
Foreign telecom operators are permitted to take a 25 per cent share in mobile
telecommunications firms; In Internet, paging and other value-added services,
foreign firms can take 30 per cent stakes in Chinese companies; Tariffs on many
high-tech products like telecoms equipment are being phased out.
Cut on import tariffs on automobiles up to 25 per cent
Foreign banks are allowed to conduct domestic yuan currency business with
Chinese firms;
China now allows "effective management control" in life insurance joint ventures,
although foreign stakes are limited to 50 per cent.
Quotas on Chinese textile imports have formally ended as mandated under a
WTO-wide accord, although a special import "safeguard" system will be in place
until the end of 2008.
The crude and refined oil sector is open to private traders hence there is a cut on
state monopoly in oil trading.
China has opened retail oil distribution and allowed foreign firms at least 30
wholly owned service stations each. More can be built through joint ventures with
Chinese oil majors.
China has phase out restrictions on distribution services for most products. The
joint venture restrictions on large department stores and virtually all chain stores
have being lifted. The space restrictions on foreign-owned stores is also being
scarped.

Impact on India
China's entry into the WTO has opened up both, opportunities as well as threats to the Indian industry. Chinese
entry has increased the voice of developing nations in the WTO and has enabled them to have their demands of
greater protection to domestic industries accepted. India and China globally compete in the same export
markets; Chinese entry has made Indian exports relatively incompetent and threatens traditional Indian
strongholds such as textiles, tea and jewellery.
Chinese goods have flooded Indian markets causing certain domestic producers to go out of business. China is
ahead of India both, in terms of trade openness as well as its promised commitment to further trade
liberalization. China's entry into the WTO has forced Indian industry to become more competitive and paved
the way for second-generation market reforms in India. China's huge market also becomes a potential market
for Indian goods and increasing domestic competitiveness can be leveraged by pushing exports.
In the light of threats as well as opportunities that present themselves after Chinas entry into the WTO, Indian
policy makers need to take up a proactive approach and formulate a long-term strategy for optimizing the
benefits accruing to India. The key measures in such a strategy would be
1. India must push for faster second generation economic reforms in the areas of labour policies and power
reforms. This would reduce the burden on Indian industry and make Indian goods more competitive.
2. Greater attention also needs to be focused on developing basic infrastructure, China is far ahead of India
on this count and foreign investors will move elsewhere unless the Government goes ahead with
reforms in this area.
3. India must also pay greater attention to its trade relations with its Asian
neighbors and press for a larger role for SAARC. The establishment of
SAFTA would go a long way towards boosting trade in the region
4. With the consumption cycle shortening, Indian industry will have to keep pace with international
demand patterns. This means churning out new products rapidly and gathering market intelligence.
5. India should not enter into investment- intensive areas. Instead low capital requirement goods such as
toys and home furnishings can be given a focus.

In conclusion, it seems that while Western countries have benefited from Chinas accession to the WTO, the
Asian and South American countries have felt the pinch. The question arises why should India not follow suit
and be benefited!
References
1. Blackhurst, Richard (August 2000). "Reforming WTO Decision Making: Lessons from Singapore and
Seattle". Center for Research on Economic Development and Policy Reform (Working Paper No 63): 1
20.
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CASE STUDY:MARKETING MIX
Guide: Mrs. Shweta Mittal,, Students: Anubha Jain, Ashisha kaushal, Monica Jain, Pradeep
Shraddha Kushwah, Shweta Saxena



DABUR HAIR OIL I NEED EXTRA

Dabur India limited is the fourth FMCG Company in India with interest in
health care, personal care and food products. Building on a legacy of quality
and experience for over 100 year. Today dabur has a turnover of 1536. 95
crore with powerful brand like dabur amla, dabur vatika. Chair person of
dabur vatika is Mr. V.C BURMAN and CEO Mr. Sunil duggal.dabur India
has a coverage in 50 countries and five continent.
In hair oil category dabur has four varieties in its product line dabur amla
amla lite, dabur vatika, and dabur anmol sarson hair oil. Amla hair oil with is
trusted hair oil with the natural goodness of amla. Enriching hair deep within
and making it shine with extra gloss. Amla lite hair oil has the nourishing goodness of amla to strengthen hair
deep down to the roots .It is combined with the traditional ayurvedic cleanser shikakai that helps enrich hair
without making it sticky.Dabur vatika provides natural nourishment to hair giving it body and radiance taking
care of the balance of nutrients .Dabur anmol sarson hair oil contain mustard oil that keeps your hair black and
shiny.
Do you remember rani mukerjee saying balon me dum life me fun yes famous punch line of dabur amla hair oil
and vatika woman mandira bedi .You think of dabur and many famous and beautiful faces comes to your mind.
Dabur is a star brand .It is endorsed by many famous film stars and TV personalities .Its promotional strategy
include television commercials, sponsoring events like dabur vatika star parivar award and organizing events
like vatika girl of month. Vatika girl of the month along with gifts provides opportunity to become modle in
one of vatikas ad.
By reading above paragraph you all must be thinking that what are the lacunas in a dabur company .do dabur
needs a suggestion? But we are going to advice dabur with our out of box thinking. Before that we will do the
SWOT analysis.
Product line to cater different
segment.
Good image
Global ayurvedic leader
Good market share in north,
south, & west.
Weaker in eastern region.
Poor market share in rural market.
Less dealer margin.
Less promotion in rural areas.
No promotional schemes for
customers.
It can increase rural market share.
It can target to nonuser.
It can increase its market share by
increasing the product line.
It has to compete with market
leader in hair oil Marico
Competition from new entrants in
the market.



SWOT ANALYSIS
Dabur has fairly good product line having famous brands like dabur amla, amla lite vatika anmol sarson hair oil
to cater different segment .It is a global ayurvedic leader.it enjoys good image .Its brand are built on the
foundation of trust that a dabur offering will never cause one harm .The trust level that this brand enjoys are
phenomenally high along with good market share on north, south and west. It is weaker in eastern region .it can
increase its market share in eastern region and rural India. Still in rural area there are consumer of unbranded
coconut oil. Dabur can choose this segment of non-user cousumer as target group.after acquisition of nihar
maricos market share in the coconut oil segment has increased from 50% to 59% and from 35% to 75% in the
perfumed coconut oil segment. Moreover maricos reach in the eastern market where it lacks distribution
strength. Dabur is facing competition not only from market leader but a continous threat from new entrants.
Our goal is to convert weaknesses in to threats and opportunities into a new business which cab pour profits in
a dabur company
Dabur needs to touch each Indian with its product on a way dabur will be reaching 1 billion (would be
consumers of India)
You must be thinking how we will do it.

That is through resegmentation.Hey ! That will be
our strategy .By resegmentation dabur can expand
its pond and find growth opportunity .It can
resegment market on the basis of hair problems and
demographic basis. A survey conducted shows that
common hair problems are: hair fall, dandruff,
tangling, split ends and grey hair. Dabur can add
more variety to its product line by manufacturing hair
oil that prevent hair fall, make your hair dandruff free
,reduces tangling and keep your hair black and
healthy .coloring hair has become a fashion trend
.coloured hair requires more care .We suggest dabur
to manufacture hair oil that keeps the colour for
longer period and make hair healthy and glossy .A
good many of us suffer from headache .lack of
proper diet and hectic schedule makes us more prone to headache .What about a hair oil that gives you a
soothing relief. Thats the idea. Hair oil for headache. Anti lice oil for children and hair oil for older people
these entire product when added to the product line of dabur will leave no room for competitor. Dabur should
have product for each and every person .If person think of hair oil he or she should think of dabur. Along with
this It should make some changes in size of hair oil.Refill packs and self serve sachet should be made available
.

Our next strategy is strengthening distribution channel in rural market to increase market share .Our strategy is
to start a project kalyan. This project aims to increase reach of dabur in every village. This can be achieved by
making one woman of every village distributor of dabur. This would help in increasing market share of dabur
upto 75%. Along with this it should adopt hub and spoke distribution channel model.

Promotion plays a very important role in increasing market share. Dabur needs to improve its promotional
strategy specially in rural area.It should campaign through radio,nautanki and nukkad nataksand fairs.It should
give advertisement in local news paper ,women magazine and health magazine .sponsoring events like miss
India contest,organising fairs and workshops to provide information about haircare provides wider coverage
and reach.
But we wont stop here. Marketing of a product is not enough. Today is the era of societal marketing .So we
have a suggestion for dabur. Dabur should start a project dabur hair oil foundation to provide home for older
people. This will help in creating and boosting the image of trust and credibility bringing loyalty for the
product.What else a company desire other than brand loyalty.We hope our suggestion helps dabur in winning
heart of customer.



25%
18%
15%
18%
24%
HAIRFALL
DANDRUFF
SPLITEND
COLOUR HAIR
GREY HAIR
CASE STUDY: CADBURYS, BACK TO BASICS

By-Nirmaan sagar. Abhishek Upadhyay, Jitendra Dwivedi, Archna Nayak. Rashmi Thomus.

Guided by- Mrs. Shweta Mittal.

For many decades, since 1948 in India, Cadburys has enjoyed a peculiar monopoly in chocolate industries. But
the future is not going to be so easy. Things are changing drastically; a sudden variation in market-taste is
common these days. PLC of Cadburys is moving towards its maturity stage while some of the chocolate brands
like Nestle & Amul are still growing and thus, The time has come to perform something innovative,
something different, says Bharat Puri, MD Cadburys India Ltd (earlier known as Cadburys Fry India Ltd).

We have done a small survey based on the famous Four Ps of marketing (simplified into Five Ps)
to find out the actual market- stand of the product, whose details are:
Sample Size: 50
Survey Locations: CMS Bairagarh, KV 3ME Centre, Bhanpur, Karod
& Royal Market,Bhopal.

Question Response
Q1. Do you think that Cadbury is a
healthy chocolate?

Q2. Do you think that the chocolate is
good for teeth?

Q3. Is Cadbury available in Rural areas?

No,
50%
Can't
Say,
30%
Yes,
20%
Yes,
10%
Can't
Say 20%
No
,
70%
No
,
50%
Rarely
30%
Yes,
20%
Q4. Do Cadbury give any Freebees?

Q5. Are you happy with the packaging of
Cadburys?


Question: What are the major problems you are facing? (Asked with retailers)

Reply: One of the biggest problems is Storage as the chocolates have very low melting
point compared to our environmental temperature, thus have to spend a lot on
refrigeration/conditioning of the store rooms as well as transportation vehicles. Also
the packaging is not fungus proof, which prohibits longer storages especially in
monsoon.

Also Nestle, Amul and other brands provide special offers time to time, for
example Nestle has provided 20% free offer with its Kit-Kat chocolate strips. Also the
price of the Cadburys chocolates is little higher as compared to the competitors for the
equal weight chocolate, which repels the lower and even the middle class consumers
from purchasing it.




THE PRODUCT

We Found: a) 1st problem is related to the ingredients of the Product, Which explains that it doesnt
provide anything other than taste.

We Suggest: Chocolate should contains vitamins A, B1,C, D, and E, as well as potassium, sodium, iron,
and fluorine which will help us live healthier and longer.

Yes, 2%
Don't
Know
18%
No,
80%
No
,
46%
OK 26%
Yes,
28%
We Found: b) Product is adversely affecting the Teeth of the regular consumers and is found to be a
major source of Fat.

We Suggest: Calcium rich, Fat free chocolates should be launched with a sugar free version for diabetic
person.

We Found: c) The chocolate melts even at 35C, which is normal temperature in our country for at least
5 months/year.

We Suggest: Chocolate ingredients should be chemically analyzed to increase its melting point without
affecting its taste.


THE PLACE

Cadburys have a Two-level marketing channel as
simplified by the diagram below:



The Manufacturer> Distributor> Retailer>
Customer















Current Locations of Cadburys
Manufacturing Plant in our country are shown
below:

Fig 1.

We Found: It is not de-centralized up to the mark.
As we can see that the manufacturing plants
are established in the central part of our country
which is the reason of-
1. Higher Transportation Cost.
2. Higher Freezing Cost.
3. Higher Time Consumption.

We Suggest: Manufacturing plants locations should
be properly clustered near to the
product market as possible in the
regions shown in the figure2. For
example in the Southern Region
(Andhra Pradesh, Karnataka), in the
Eastern Region (Bihar, W Bengal
etc) similarly Northern Region
(Himachal Pradesh) and so on. So
that the

We Found: b) Most of the rural area is
still untapped.




Fig2. Suggested regions for manufacturing
plants.


We Suggest: Distribution should be expanded to
the rural areas by filling the
transportation, storage and pricing
gaps. For example, Special Air/Water
Ventilated Coolers (which does not
require electricity) may be supplied
with the product, for providing better
storage conditions. Drinking water may
be made available with the cooler in
the form of Pyaoo for maximum
impact especially in summer.


- Transportation Cost -
Double Freezing Cost
- Time, should be reduced.





THE PROMOTION



Promotion plays a leading role in the actual
performance of the product in the market.

Cadbury has used a variety of Promotion
Tactics:

1. Use of Appropriate Season, Occasion and
Time.

a) Festival Packs












b) After Dinner Sweet












2. Using famous personalities as Brand
Ambassador (Promoters).












3. Use of HUMOUR-plus Strategy.












4. Mixed Strategy Promotion.













5. Promotion intrinsic Product Labeling.


But, as said earlier, the Time is demanding for
more. Following are few suggestions that may
supply the necessary boost to the product:




We Suggest: Use of effective and enduring
Promotion strategies like-


1. Providing planner or blank Time-Table at the
back of chocolate wrappers targeting school
going children.


2. Printing Year Calendar at the back of the
wrapper. So that it will be kept for the next one
year at least.

3. Chocolates in the shapes of famous cartoons
will attract Kids more affectively.


4. Chocolates can be used as Teaching tools such
as Triangle, Circle, Square etc.


5. Providing chocolates in all colors.


6. Printing upcoming Cricket Worldcup2007
schedule on the back of Chocolate wrappers.


7. Labeling in the Local languages and stating one
fact about the State on the wrapper.


8. Arranging different games in schools involve
hunting for chocolates and giving chocolates as
Prize.


9. Chocolates scientific name, theobroma cacao,
literally means
"food of the Gods. This perception associates it
with the feeling of love, Devine and comfort
which must be used to promote it.





THE PRICE


Price is the only element of the marketing
mix that produces revenue as all the other elements
produces cost.

We Found: The major problem with the price
policy is that there is no chocolate
variety available priced less than
Rs. 5/-.


We Suggest: Its suggested solution is that small
chocolate packs of Rs. 1/-&Rs
2/- should be introduced in the
market, by reducing chocolate
weight & introducing value
pricing, targeted to the low
income consumers living in
urban and rural areas as well.


THE PACKAGING



There are basically three levels of a product
package-
a) Primary Package:
b) Secondary Package:
c) Shipping Package:

We Found: Cadburys has taken a very good care of
the same for its product but need
little improvement as currently the
packaging of Cadburys is not
biodegradable and Fungus proof.

We Suggest: A specially prepared biodegradable
material like Waterproof Plant
cellulose treated with aseptic
chemical can be used as a
biodegradable and fungus proof
packaging.



CONCLUSION: Thus, at the end it is proved that the combination of Five Ps prepares
the ink to write the success story of any product in the market.

It is certain that the Demand of chocolate is going to be
increased in near future and we suggest Chocolate lovers to be ready
for some mind-blowing flavours.

And the day is not far away when doctors prescribe
chocolates as medicinal tablets! at least in some cases.