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The Minute Issue 102 Flipbook PDF
The Minute Issue 102
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Initiative of the 2012 Batch
Issue:102
Current Editorial Team:2015 Batch
11 March 2015
Desire to Inspire..
WORDS OF WISDOM
WORDS OF DRUCKER
Issue:102 11 March 2015
Know Thy Time “Know thyself,” the old prescription for wisdom, is almost impossibly difficult for mortal men. But everyone can follow the injunction “Know thy time” if one wants to, and be well on the road toward contribution and effectiveness. Most discussions of the executive’s task start with the advice to plan one’s work. This sounds eminently plausible. The only thing wrong with it is that it rarely works. The plan always remains on paper, always remain good intentions. They seldom turn achievements. Effective executives, in my observation, do not start with their tasks. They start with their time. And they do not start out with planning. They start with finding out where their time actually goes. Then they attempt to manage their time and to cut back unproductive demands on their time. Finally they consolidate their “discretionary” time into the largest possible continuing units. This three step process 1) Recording time 2) Managing time 3) Consolidating time is the foundation of executive effectiveness.
Action Point: Find out where your time goes by recording, managing and consolidating your time.
Source: The Daily Drucker (6452) by Mr Peter F. Drucker
IN THE EYES OF CORPORATE E-commerce expert Graham Green shares what Indian retailers can learn from the online evolution of European retailers YOUR KEY OBSERVATIONS ABOUT THE E-COMMERCE MARKET IN INDIA India is actually benefitting from the fact that e-commerce has kicked in late here. It has thus skipped two waves of failure that e-commerce in UK has undergone. There are learning from the mistakes made by e-commerce players in Europe that are being implemented here. That’s why e-commerce in India is built on strong pillars of success. This is one of my key roles as an advisor to Ace Turtle. HOW SIMILAR IS THE EVOLUTION OF INDIAN E-COMMERCE TO THAT OF EUROPE? Some of the brands in Europe have been late to embrace the e-commerce model, which has actually gone on to benefit them. Today, they are growing much faster than other e-commerce players in their segment. This situation is similar to that in India. There are many examples of departmental retailers in Europe that have now taken the online route and are seeing massive growth as a result of which the investment in the online space has grown multifold. The investment that would be made in brick-an-mortar stores outside typical commercial areas is being channeled into e-commerce activity from which the brands are deriving massive benefits.
Issue:102 11 March 2015 GLOBAL TRENDS THAT WE CAN EXPECT TO SEE IN INDIA… Leveraging one’s strengths in a particular area is extremely important, especially in a dynamic environment such as e-commerce. For example, eBay, which is a pure online player has partnered with Argos, one of the biggest retailers in the UK to offer a click-and-connect service. This allows customers to order online on eBay and pick up their purchase from an Argos retail outlet. One might wonder what Argos, a retailer that has majority of its business in the brick-andmortar space, has to gain from such an arrangement. The answer is a huge increase in footfall- it has more and more new potential customers walking in. another trend that is catching up is new payment systems. Interesting developments will take place in mobile payments like Apple Pay and Ali Pay; these will come faster than we think. NAME THAT CATEGORIES THAT DO BETTER IN E-COMMERCE Electronics, especially white goods, have done extremely well online in all parts of the world. This is because brick-and-mortar retailers have always had the space constraint, which is the least of the issues for online players. Unlike the fashion category, where there is impulse buying, the demand for white goods arises only when the present one get spoilt or becomes obsolete. Besides the consumer is well aware of the product that he wants to purchase. Price is a determining factor in such purchases on which the online players have the upper hand due to lesser overheads than a pure-play brick-and-mortar. Delivery is also an important factor in developed markets where the consumer can choose the time that the product needs to be delivered and installed.
THIRUKKURAL Thirukural எண்ணித் துணிக கருமந் துணிந்தபின் எண்ணுவ மமன்ப திழுக்கு.( 467)
Transliteration Ennith Thunika Karumam Thunindhapin Ennuvam Enpadhu Izhukku. Meaning Embark upon an action after careful thought. It is folly to say, "Let us begin the task now and think about it later.
KABIR DAS KE DOHE
Issue:102 11 March 2015
Dohe
करता रहा सो क्यों रहा, अब करी क्यों पछताए | बोये पेड़ बबल ू का, अमआ ु कहा से पाए || Transliteration Karta raha so kyo raha, ab kari kyo pachhataye Boye ped babul ka, so amua kaha se paaye Meaning Why were you doing, what you were doing, now what is the use of repenting, you have sown seeds of Babool tree, don't expect mangoes from that.
Mr. BIRBAL Problem Akbar and Birbal were one day watching the sunrise when they heard some noise nearby. They went to investigate and found that a party of travelers had been robbed and the robbers had decamped. The Emperor sent his royal guard after the robbers, but to no avail. They had vanished without trace. Akbar told Birbal: “What is the use of being the Emperor of India if people can be robbed with impunity under my very nose?”
Birbal’s Solution Birbal replied: “Even the most powerful lamp that illuminates an area of miles around it casts a dark shadow below it.” Akbar felt consoled.
Issue:102 11 March 2015
Management Moral: Nobody is perfect. It is wise to accept your limitations rather than hanker after the unattainable. When somebody’s shortcomings or failures disturb his mental peace, a few words of comfort from those he works with feel like a soothing balm. This is one reason why colleagues need to be friends, too, or the workplace can become too drab.
Source: Solve Your Problems– The Birbal Way– Luis S.R. Vas & Anita S.R. Vas (4135)
PRACTICAL TIPS Start Now In today’s corporate scenario, there are multiple opportunities for anything you want to do. Yet, we find people sad, stressed and worrying about the future. Do not wait for any ‘golden’ moment to start what you always wanted to do. The best time is not the muhurat the pundit suggests, nor even the ‘right dates’ that come up in a calendar. It is right here and now! While starting any project or assignment, a few tips
Self-effort Prepare a plan Consult an expert Work out your plan
BUSINESS ETIQUETTE
Issue:102 11 March 2015
Parking Etiquette When using public or shared parking, follow simple rules that make parking convenient for everyone.
Train yourself to park well. While waiting in queue for your turn to park, do not honk unnecessarily. Do not drive too close to an already parked vehicle while parking or removing your vehicle. Park your vehicle in such a way that others have enough space to manoeuver their vehicles. Do not stop or park in the middle of the road. Do not park in front of houses blocking the driveway. If parking rules apply to parking bay/underground parking, follow those. Do not argue with attendants. While walking past a vehicle, do not pat it or scratch it. While exiting a parking bay keep your parking slip handy so that you don’t have to frantically search for it while others wait behind you.
SOURCE: BROOM AND GROOM By Bedi Kiran and Choudary Pavan (10661)
MANAGEMENT FICTION A farmer had a dog that used to sit by the roadside waiting for vehicles to come around. As soon as one came, he would run down the road, barking and trying to overtake it. One day a neighbour asked the farmer, “Do you think your dog is ever going to catch a car?” The farmer replied, “That is not what bothers me. What bothers me is what would he do if he ever caught one.”
Moral: Many people in life behave like that dog that is pursuing meaningless goals.
GLIMPSE
Issue:102 11 March 2015
SUN GROUP Type
Private
Industry
Conglomerate
Founded
1992
Headquarters
Chennai, Tamil Nadu, India
Area Served
India
Key People
Kalanidhi Maran, (Chairman)
Products
Books, cable programming, films, magazines, newspapers, satellite television, sporting events, television, websites etc.,
Divisions
Sun TV Dinakaran Tamil Murasu Kungumam Red FM 93.5 Suryan FM 93.5 Sun Pictures Sun Direct DTH Sunrisers Hyderabad etc.,
STRATEGY 1 million customers visit IKEA everyday. 42 is the average age of an IKEA customer. 10,000 products live in the IKEA range. 84,000 co-workers in IKEA. 145 million IKEA catalogs were printed in 48 editions and 25 languages. 179 IKEA stores in 23 countries and 202 in 32 countries if you include franchises. What other brands can learn from IKEA? 1) A company doesn’t make profits because it wants to, but because it offers something different. 2) Recruits on potential rather than experience. 3) Long-term thinking rather than short-term sales pressure. 4) The importance of being honest and transparent. 5) They turn problems and difficulties into opportunities. 6) They rarely ask its customers what they want, but uses good design, low prices and challenging advertising to persuade them. India is currently among the top 10 sourcing countries for IKEA. The plan is to double sourcing from India to € 630 million by 2020
CORPORATE HUMOR
Issue:102 11 March 2015
A very successful project manager called his men to his cabin and said, “Friends, I have got some good news and some bad news. The good news is that we are all working late tonight to make the hydraulic test rig for HAL ready for dispatch before sunrise. The bad news is, I’m making coffee for us all!” You see that the manager used subtle Humor to convey that the group had to work all the night and finish the job. This goes to show that Humor need not prompt you to shirk any of your responsibilities. You can be a tough taskmaster and still have fun with your team.
Source: The Power of Humor at the Work Place By Mr. K.Sathyanarayana
CONTEST CONJOIN-UP
BRAND QUIZ UK's iconic luxury footwear brand X is entering into India as a result of an exclusive distribution tie-up with Y. Y, luxury footwear multi-brand retailer, at present has three outlets in Mumbai, Delhi and Gurgaon. X footwear will be available in the price range of Rs 20,000 to Rs 72,000. It will be retailed in India at the same price as outlets in the UK. Find X and Y?
Issue:102 11 March 2015
GUESS???
__A_D_N_ Guess the word using the Picture Clue.
MAIL YOUR ANSWERS TO
“[email protected]” on or before 15/03/2015
Previous ISSUE’S ANSWERS CONJOIN-UP
Mr. Pankaj Mishra BRAND QUIZ
X– Zomato Y– Urbanspoon GUESS???
Negotiation
Previous ISSUE’S Winners
Issue:102 11 March 2015
BRAND QUIZ MR. KARTHIK S (2015 BATCH) MS. MYTHRAEY B (2015 BATCH) MR. MURUGAPPAN AR (2016 BATCH) MR. PRAVEEN KUMAR R V (2016 BATCH)
GUESS??? MS. ANABI SIRA JACOB (2015 BATCH) MS. MYTHRAEY B (2015 BATCH) MR. MURUGAPPAN AR (2016 BATCH) MR. PRAVEEN KUMAR R V (2016 BATCH)
NEW ARRIVALS @ JSB LIC
Inbox
Issue:102 11 March 2015
Dear Team ! Both the issues 100 & 101 are good and informative. Feeling happy to see good comments from our professors. Good job team for reaching a milestone - Century. Keep going ! -MR. PRAVEEN KUMAR R V (2016 BATCH)
THE MINUTE
Abinaya Ramesh
Sooraj B
Issue:102 11 March 2015
Jayalakshmi A
Sivaramakrishnan S Your Suggestions Are Welcome “[email protected]”