India Business Blog | Funding & Telecom Trends | » Indian

5 qualities of top women in Indian corporates!

Kaushambi — Tue, 07 Feb 2012 16:30:58 +0000

If you’ve read out earlier feature which covered the top 10 Indian businesswomen last year, then you’ll find this post to be more of an extension of the same. What are the qualities that what have gotten Indian women to the top spots of India Inc? Is it just about having a tough facade, compromising on family or having IIM/IIT degrees that allow them to skyrocket? No, there’s much more to that. Let’s find out.

Accepting that you will not be a star at work and at home

It’s only natural for women to not be able to give their 100 percent at their households and their workplace. If there’s an important board meeting the next day for which you have to prepare through the night, you simply can’t juggle entertaining your husband’s family for dinner simultaneously, for instance. As Business Today reports, Naina Lal Kidwai, HSBC’s India Head believes that this attitude is missing in urban women who still attempt to do-it- all. It’s okay to set up an alternative support system, ask for help and start by admitting that you can’t handle both equally if not less or more. That way, Indian women at work can start setting their priorities easily. These top Indian businesswomen affirm this quality:

"Shared responsibilities are the only way more women will pursue careers."

- Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon [Source]

“It’s better to spend quality time with your child, than spend the day after work cooking.”

- Renu Sud Karnad, Joint Managing Director and Member of the Board of HDFC Ltd[Source]

Not to accept or ask for any pity as a woman

Bunking work on the day of an important presentation in order to attend your child’s first annual day is probably not an option for women who want to climb that corporate rung. Although paid maternity leave / arrangements are arriving in India slowly, corporates don’t allow for extra time or a loose hand being given to employees just because they are female. Take for example, ICICI. Quoted in a Business Today report, K. Ramkumar, Head of HR at ICICI Bank says

"We do nothing. There is no chivalry, no kid gloves, there are no affirmative action committees. Your system has to be a pure meritocracy. No woman can play the woman card’.

Be on the top of your game

"My passion lies in the pursuit of excellence – can I do it very well, better than others?"

- Chanda Kochhar, Managing Director and CEO of ICICI Bank [Source]

This lady who can also ‘command an army’, as Business Today reports, is a perfect example of what focus and excellence are all about. As the CEO of ICICI Bank, each second of her day is scheduled for and planned, including the time taken by the elevator to reach her floor. K V Kamath recalls that when he newly hired Kochhar, she achieved her annual target in the very first quarter.

On the other hand Mallika Srinivasan, Tractors and Farm Equipment CEO recalls that whilst she was studying for her MBA from Wharton, she used to have her young daughter in tow, and would study in the laundry room because the hum of the washing machines helped her to concentrate.

Anjali Bansal, Managing Director, Spencer Stuart India, thinks that women who are poised to be successful have a killer work ethic and according to Shailja Dutt, MD, Stellar Search, "Letting anything slip is not an option", as reported by BT. These examples only point towards the fact that being a master of your expertise/area is a critical quality to have.

Don’t expect to please everyone

One quality that most top women in the Indian corporate space acknowledge is that woman needs to lose their nurturing side of obliging to keep everyone happy. You’ve got to be hard as nails and be ready to the extent of making some enemies in the workplace. For one, women in corporate India still face the wrath and envy of many men if they are climbing the ladder too quickly and secondly, trying to subvert the stereotype of being soft and submissive may tend to make female employees extra aggressive and hence piss people off.

Don’t give up easily

Most women in the corporate space give up when they have their first child in the age group of 25 to 35. The overwhelming workload combined with unsupportive families becomes a quick and easy reason for them to lose their cool and call it quits. But most of the top women you see in the Indian corporate space today are married, have children and yet have survived this tumultuous phase in their lives. The best way to deal with this is to think about where you will be in the next 5 years. Your responsibilities for your children would have decreased and you would be 5 years richer of work experience and perhaps a senior position. Would you want to let all of this go because of a hasty decision?

Vinita Bali, MD, Britannia has the last fair word:

"I think this gender thing is a bit overplayed. Ultimately, it is competence, skills, attitude and ability to lead that matter."

[Source]

Why IKEA may change household furniture Industry in India!

Kaushambi — Tue, 07 Feb 2012 06:46:33 +0000

Although the Scandinavian giant IKEA has been trying to come to India since 2000, it hasn’t been able to set itself up yet. And this was mainly because of the tight FDI rules in India until recently. But with the Indian government having finally shifted from a 51 percent foreign ownership cap to 100 percent foreign ownership of Indian single brand retail ventures, IKEA can finally start making its plans to revisit the thriving Indian subcontinent.

No formal announcements have been made as of now, but IKEA is expected to be one of the first large global brands to take advantage of 100% FDI in single brand retail! Let’s take a look at a few reasons why IKEA may be successful in India.

IKEA offers all types of readymade household items in one store

From its trademark foldable, pre fabricated, light furniture, to household items to stationery, to an IKEA food store to the linen section to home accessories to kitchenware to decorative items, IKEA has it all. Worldwide, IKEA is known by its motto ‘Everything under one roof’.

Just like Reliance Fresh, Big Bazaar, Spencer’s and the likes are gradually taking over the kirana stores of India, IKEA too has the ability to easily take over smaller independent shops of furniture that have been reigning over the Indian furniture marketplace from the past many years. The typical Indian trait of getting furniture custom made by hiring a carpenter on contract too could heavily take a beating.

IKEA offers quick and maximum customization

Indians are used to consuming customized items – whether is their Banarasi meetha pan, a kurti stitched by the gali ka darji or a piece of furniture made by the local Rajasthani carpenter. With IKEA, customization will take a whole new meaning for Indians. Choose a lampshade with a handpicked lamp base, choose a Futon with a shade of your choice, chose an arm chair with a different back cover and so on. Whether you are colour coordinating your own home or simply want to get DIY (do-it-yourself) furniture, IKEA serves every need.

Arm yourself with an IKEA notepad, item list and pencil from the store entrance and start ticking off codes of the items you’d like to take away from their warehouse facility in the basement. This experience is likely to strike a chord with the needs of customization loving Indians instantly!

IKEA’s pre fabricated furniture and goods represent modern Indian lifestyles

More and more working Indians living in suburban metros want shopping hubs that offer quick service, a reliable brand name, wide options under one roof and quick delivery. Also, with cost of living in metros ever rising and rented pads becoming smaller and more expensive, people are only going to opt for home items that take up less space in the house, store more and are easy to move.

As far as the pricing is concerned, only time will tell how IKEA suits its Indian customers, because the general reputation of IKEA products even overseas is that it is fairly cheap!

IKEA is a familiar brand name amongst urban Indians

Most well travelled Indians from semi urban and urban cities know the brand name of IKEA fairly well. IKEA along with Starbucks and Walmart, has been made familiar to Indians because they keep appearing in the media due to their constantly changing plans of entering the Indian marketplace.

Additionally, IKEA being a classic international business case study of streamlining costs and developing an efficient supply chain, many B-school students are all too familiar with the brand name.

IKEA’s CSR operations in India

Current IKEA CEO Mikael Olsson has his eyes well set on India as the next big opportunity. His 2010 visit exclusively focused on assuring Indian people and the Indian government that IKEA is not one of those companies whose Indian suppliers engage child laborers, unlike many MNCs that were accused of doing so in the 1990s, BBC News reported.

IKEA has been sourcing many materials from India from a long time and to re-affirm its goodwill in the country, IKEA supports UNICEF’s water and sanitation program and funds initiatives in the carpet and cotton regions in the country, reported ET. In the coming years too, IKEA plans to spend in areas of women empowerment, education, health awareness and industry-based programs that aims to benefit about a 100 million women and children.

One thing for sure, If and when IKEA enters India, they have potential to change household furniture Industry in India!

Would love to hear your thoughts on this…

Wow! Indians most willing to donate to Wikipedia…

Arun Prabhudesai — Mon, 06 Feb 2012 11:38:55 +0000

This is one news that has made me really happy – According to the study published by Wikimedia, Indians have expressed strongest desire to donate to Wikipedia. Over 42% of Indians are willing to donate as compared to 33% Americans.

Wikipedia concluded its annual fundraising on January 2nd and raised a record-breaking USD 20 million from more than one million donors from nearly every country in the world. Wikipedia carried out a study to understand these donors and have published the findings.

Highlights of Wikipedia study findings:

- On average 47% of readers did not know that Wikipedia was a non-profit entity run entirely on donations!

- Russia (64%), Brazil (56%) and the United States (56%) were the top 3 countries who lacked awareness. While Egypt (70%) and India (61%) had highest level of Wikipedia’s not-for-profit status! Even 28% of readers who had edited Wikipedia were also unaware of the same.

- While more men (44%) donated than women (36%), women are much more likely to be continued supporters, with 14% of them having donated more than 5 times, compared to only 6% of men.

- Readers from India (42%), Egypt (33%) and US (33%) expressed a strongest desire to donate. readers from Germany (13%), France (11%) and Japan (15%) were relatively less likely to donate.

- 46% of the all readers said that they could not donate because of affordability factor. 57% of Indian readers cited affordability as a reason that they could not donate.

It is really interesting that Indians are generally more knowledgeable about Wikipedia as compared to their global peers and at the same time they are also more willing to donate than others.

Now, IRCTC SMS will serve as E-Ticket for train travel!

Arun Prabhudesai — Mon, 06 Feb 2012 05:36:01 +0000

Indian Railways is bringing up much needed changes to the system and making life easier for Indian train travelers. For few years now, the only accepted way for E-Ticket confirmation was carrying a physical paper printout of tickets booked online. Tons of paper was wasted purely on this.

Few months back, IRCTC announced that there was no need of a physical printout of E-Ticket for train travel. A passenger could just take a screenshot on his mobile and it would be valid.

Now, Indian Railways has gone one step further – the Ministry of Railways has decided to permit SMS confirmation sent by IRCTC containing vital details as an proof on par with the Electronic Reservation Slip (ERS). This has come into effect from 1st February, 2012.

Essentially, when a user books a ticket online, he is sent a SMS confirmation from IRCTC giving details of his journey along with ticket details. A traveler can just show that SMS on his mobile along with a valid ID to the ticket checker. That will be valid proof that he has the ticket and can travel without any issues!

However, IRCTC has laid down certain mandatory features that the SMS should contain:

SMS sent by IRCTC / Railways will be considered for the purpose of confirmation and
The SMS would contain all the vital ticket details like PNR, Train Number, Date of Journey, Class, Name & Number of Passengers, Coach & Seat Number and Fare paid.
Also if feasible, the SMS will accommodate the names of all passengers booked on the e-ticket, otherwise maximum number of passengers.
The authorized SMS containing all the aforementioned vital details when displayed through laptops / palmtops / mobile phones combined with valid photo-id in original shall be treated as an instrument on par with the ERS.

And if you are smartphone user, it gets even easier. Earlier in Jan, Indian Railways partnered with 3 Indian mobile payment gateways that allow users to book & pay for Railway tickets directly on the mobile phone.

Kudos to Indian Railways for making Train Reservation Ticketing System passenger friendly – This will surely save lot of effort and at the same is extremely environment friendly!

UIDAI Phase III Approved & Funded – 20 Cr. Aadhaar cards to be released by March!

Editorial Staff — Tue, 31 Jan 2012 06:31:41 +0000

Its nice to see that UIDAI is not only back on tracks, but they are now aggressively setting targets to achieve. Here is a statement released by Government yesterday,

The Cabinet Committee on Unique Identification Authority of India related issues (CC-UIDAI) today approved commencement of Phase-Ill of the UID scheme at an estimated cost of Rs.8,814.75 crore which subsumes the earlier approval of Rs.3,023.01 crore, and comprises costs for issue of 20 crore Aadhaar numbers through Multiple Registrars upto March 2012, printing and delivery of 20 crore Aadhaar letters, technology and other support infrastructure cost for creation, storage and maintenance of data and services for leveraging the uses of Aadhaar for the entire estimated resident population upto March 2017.

So, nearly a fifth of all Indian citizens will have an Aadhaar Card by March 2012, and all approvals are in place for that.

Additionally, the UIDAI authority released a press note yesterday clearing the confusion between UIDAI & NPR (National Population Register). It has been decided that NPR and UIDAI enrolments will proceed simultaneously, with suitable provisions to eliminate avoidable overlap.

During NPR registration if a person indicates that he/she has a Aadhaar card, the biometric data will not be captured by NPR. Instead the Aadhaar number/enrolment number will be recorded in NPR and the biometric data will be sourced from the UIDAI.

The committee has also approved that UIDAI will be allowed to enroll additional 40 crore residents beyond 20 crore already approved & funded. Provisions for additional funds for these will be made in the budget for 2012-13 in anticipation thereof.

[Full Press Release]

Facebook, Google warned by Delhi High Court Judge – Like China, We will block websites!

Arun Prabhudesai — Fri, 13 Jan 2012 10:26:34 +0000

The content filtering row heats up again – A Delhi High Court Judge sent a stern warning to Social Networking site Facebook & Google to ensure checks on Objectionable material uploaded to their websites by users.

Justice Suresh Kait told both the company representatives that – “Like China, we will block all such websites” if they are unable to keep a check and remove offensive and objectionable content from their website. Very recently, similar remarks by Indian Minister, Mr. Kapil Sibal had created a big uproar in media and blogging world.

In my opinion, I think there is no straight solution for this situation – These kind of “objectionable & offensive” content are going to keep popping up. And, at the same time, I do not think Google or Facebook can (at least currently) completely control such content (not because they don’t want to, but because of tech limitations).

Even representatives from Google clearly mentioned that postings of "obscene, objectionable and defamatory" articles and other things cannot be filtered or monitored. "No human interference is possible, and moreover, it can’t be feasible to check such incidents. Billions of people across the globe, post their articles on the website. Yes, they may be defamatory, obscene but cannot be checked"

However, the biggest question is – Whether Google or Facebook should be responsible for such offensive or derogatory content appearing on their website? The reason being, they are actually not the ones who create or publish it – But its their users who do it.

And, in most cases, when the websites are informed about such content, they do remove it case by case basis – But automatic filtering is just impossible.

According to me both of them are right on their part, even from Government’s perspective, such content can be very damaging and they will do everything in their power to stop it from happening.

What do you think – Do you see a solution for this problem?

Single Brand Retail – Indian Govt. approves 100% FDI!

Arun Prabhudesai — Tue, 10 Jan 2012 13:57:25 +0000

Unlike Multi-brand Retail, which faced stiff resistance, Single Brand Retail Foreign Direct Investment (FDI) seems to have been approved without a hitch!

Indian Ministry of Commerce & Industry has just released a notification announcing approval for 100% FDI (Foreign Direct Investment) in Single Brand Retail. Earlier, only 51% foreign investment was allowed.

According to the amendment made in ‘Circular 2 of 2011- Consolidated FDI Policy’, FDI in Single Brand product retail trading would be subject certain conditions.

Conditions on 100% FDI in Single Brand Retail

Products to be sold should be of a ‘Single Brand’ only.
Products should be sold under the same brand internationally i.e. products should be sold under the same brand outside India as well.
‘Single Brand’ product retail trading would cover only products which are branded during manufacturing.
The foreign investor should be the owner of the brand.
For any FDI beyond 51%, mandatory sourcing of at least 30% of the value of products sold would have to be done from Indian ‘small industries / village and cottage industries, artisans and craftsmen’. ['Small industries' would be defined as industries which have a total investment in plant & machinery not exceeding US $ 1.00 million.]

This is is a great announcement for many foreign brands who already have their presence in India as well as those who don’t (Likes of IKEA, GUCCI etc). However, they were not able to grow fully due to restriction in FDI investment. With Indian Government now allowing 100% FDI, they would aggressively invest in fast Indian Market. Would love to hear your views on this!

[Source: Government Notification PDF]

Majority Indians still prefer going abroad to work!

Arun Prabhudesai — Thu, 05 Jan 2012 12:36:57 +0000

Indians are still attracted to West when it come to employment – Although, India is dubbed globally as land of opportunities, majority of Indians want to go abroad to work. That’s the finding by Work monitor report released by Ma Foi Randstad.

And if you think money is the criteria for the move abroad, you are wrong. The report states that while globally, less than a third of the respondents are willing to move abroad for a job without a pay hike, employees in India do not have a problem with relocation – Infact, majority of them are willing to do so!

Indians have highest Mobility Index ranking across the world of 144 followed by Brazil, China & Mexico. Also, younger Indian’s (18 – 34 years) are more willing than older ones (35 to 64 years)

Highlights of the Work Monitor Report:

45% of the workforce believes in focus on promotion, while 34% believe in doing something
different.
On average 8 out of 10 employees expect to receive a pay hike, bonuses and additional employment benefits in year 2012.
Although the general economic outlook was gloomy in 2011, close to 80% employee feel that their organization had a good year except for senior executives. 64% of Employees with salary of 10 Lakh p.a and higher felt their organization had a good year.
A very high proportion (81%) of men expect to work beyond their retirement age and a nearly equally high proportion of women (74%) expect to work beyond their retirement age.

It is a known fact that Indians want to move abroad, because of better infrastructure, better pays, better standard of living among other things. However, over last decade, Indian cities have also grown and pay scales have risen drastically. Yet the propensity to move abroad has not lessened. Although, we have been constantly hearing of reverse brain drain, interest of going abroad remains very high among Indians.

I have a question for readers – Do you think this trend will remain in coming years as well? or do you think, given the growth India is expected to have in coming years, more and more people will prefer to stay back and explore more opportunities in India itself?

Top 10 Indian bestselling business books of 2011!

Kaushambi — Tue, 27 Dec 2011 08:41:02 +0000

A list of the top 10 bestselling books of 2011 in India would typically include the well known names of Chetan Bhagat, Amish and their likes. But a list of bestselling books in the business category is rare. Let’s take a look at the Top 10 business bestselling books in India in 2011, with a few picks from the Business Standard list of the same title.

The Winning Way

By Harsha & Anita Bhogle

A famous sports commentator (who is himself an IIM-A grad) and his IIM-A grad wife join forces to write a book about how businesses can take valuable lessons from sports about winning, loosing, combating and rising above from failure. Interestingly this book also marks 300 training workshops for ‘The Winning Way’ that the Bhogle couple have led.

ISBN - 9789380658322

Buy Now

Corporate Chanakya

By Radhakrishnan Pillai

The last few years have regenerated an interest in ‘Arthashastra’ written by the great mathematician, administrator and statesman Chanakya. R Pillai has presented his version of the simplification of the sutras, mantras and trade secrets that Chanakya has explained in his original epic. More like a corporate guide, Pillai’s simplified version gives tips on management, leadership and training.

ISBN - 9788184951332

Buy Now

The Habit of Winning

By Prakash Iyer

Here’s one more IIM-A grad who has jumped on the bandwagon of penning experiences based on his 25 year corporate career in which he sold everything from soaps to diapers. ‘The Habit of Winning’ is a mix about inspirational stories and real life incidents. From the Cola Wars to Michelle Obama’s brand management, these stories aim to inspire you to be a winner in everyday life.

ISBN - 9780143068280

Buy Now

The TCS Story & Beyond

By Ramadorai

It’s amazing to read a book written by a man who has maneuvered his way through an organization for almost 40 years. From the days of Y2K when TCS expanded its client base to the IPO of TCS in 2004 to the potential merger with Tata Burroughs to the large scale recruitments drives that TCS is now undertaking, Ramadorai narrates a great journey that you ought to be a part of.

ISBN - 9780670084906

Buy Now

I Have a Dream

By Rashmi Bansal

An MBA graduate from IIM-A herself, Ms. Bansal has already authored two bestselling books on entrepreneurship previously. While her first book talked about MBA graduates who jumped on the entrepreneurship bandwagon, her second book talks about non MBA graduates, her recently launched book ‘I Have a Dream’ talks about 20 idealists who become the change they want to see in the world.

ISBN - 9789380658384

Buy Now

Unusual People Do Things Differently

By TGC Prasad

This book makes for an amazing read because it collects the success stories of 65 varied and interesting people – from famous people like Azim Premji and Mother Teresa to a common realtor, a CA, an attorney and a sports coach amongst many others. The common denominator that Prasad points out in all these people is their ability to think out of the box and accomplish extraordinary things.

ISBN - 9780143416753

Buy Now

Uncommon Ground: Dialogues With Business And Social Leaders

By Rohini Nilekani

A philanthropist and a social activist by profession, Nilekani has penned this book based on interactions between business magnates and social leaders. Based on a TV show which she hosted in 2008, the book explores 8 major themes of polarization between business and voluntary social sectors. Capturing rare conversations between industry giants, Nilekani helps her readers realize that social and corporate developments inadvertently go hand in hand.

ISBN - 9780670085620

Buy Now

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

By Abhijit V. Banerjee and Esther Duflo

Co-written by MIT professors, Poor Economics answers questions of whether a billion hungry people really exist or not, why the poor who don’t have enough to eat end up buying a TV, how having more children directly relates to poverty and so on. If you want to learn more about the economics of poverty, pick up this book which is also the winner of the 2011 Financial Times and Goldman Sachs Business Book of the Year Award.

ISBN – 9788184001815

Buy Now

Thorns To Competition

By Arindam & Rajita Chaudhuri

Although IIPM and its founders have undergone a lot of controversy for their institute offering MBAs, this book remained popular in 2011. With none less than SRK launching this book, the main theme is about the hard selling strategies of modern day marketing. Formulating an acronym for THORN (Target It Right/ Hit Where It Hurts / Obsess With It / Reinvent It / Nail It / Sell It), the book pretty much maintains aggression in marketing as its central theme – sounds familiar to what IIPM is doing, isn’t it?

ISBN – 9788125951940

Buy Now

Steve Jobs: An Exclusive Biography

By Walter Isaacson

Although this is not an Indian book, it has been a bestseller in India particularly because of the unfortunate death of Jobs, of course. Not much needs to be said about this book except that it is an absolutely stirring narrative of this creative genius. This book sold a little over 14,000 copies in its first week in India, compared with a massive 379,000 in the United States.

ISBN - 9781408703748

Buy Now

Do you think we missed any that needed a place in Top 10 or do you have your own picks to share? Comments are Open!

[Disclaimer: Buy Now links are Flipkart affiliate links]