How to Transform a Traditional Giant into a Digital One

Railway Budget 2016-17 If you’re not turning your company into a “math house” you’re headed for serious trouble. Every industry will soon be driven by digitization and every winning company will be using algorithms, or mathematical rules for processing information, to shape the end-to-end customer experience. Any advantages you have now will pale in comparison with a great set of algorithms that differentiates the customer experience. It is the algorithms that will create value for the business... Read more

Why Distinctive Customer Targeting is a Smart Strategy

When former NBA superstar Magic Johnson was opening Starbucks coffee shops and a TGI Fridays restaurant in Los Angeles in the 1990s, he made changes to the product offerings. “I had to take the scones out of my Starbucks and put [in] sweet potato pie, pound cake, sock-it-to-me cake, peach cobbler,” he told attendees of the October 2015 Stanford University Graduate School of Business “View from the Top” speaker series. “I was the first Fridays in the nation to ever serve Dom Pérignon, Cristal, and all the high-end liquors…. That’s what my customer base wanted.”... Read more

Five Faces of India

Most of us are familiar with the geographical map of India. But ever wondered what the prosperity map of India looks like? Or the crime map? Have a look. ... Read more

Highlights of the Railway Budget 2016-17

Railway Budget 2016-17Stressing on the need for constant innovation, Railway Minister Suresh Prabhu in his second Railway Budget speech said, "We need to reimagine the conventional ways of solving things. We plan to do this by drawing upon our inherent strengths." These are the highlights of the Railway Budget 2016

Theme of the Budget

Overcoming challenges - Reorganize, Restructure Rejuvenate Indian Railways: 'Chalo, Milkar Kuch Naya Karen'

Three pillars of the strategy i.e. Nav Arjan - New revenues, Nav Manak - New norms, Nav Sanrachna - New Structures ... Read more

Innovate to Manage Competing Goals

India’s prospects remain bright even amid the global economic slowdown. Despite the market and currency volatilities, India’s macroeconomic fundamentals have improved due to a combination of lower commodity prices and policy initiatives by the Union government. Budget 2016 is an opportunity to expand reform measures, catalyse investment and chart a road map to boost and sustain India’s upward growth trajectory ... Read more

Ibibo Group to Receive $250 mn Investment from Naspers

Online travel services provider ibibo Group said Internet and media firm Naspers, the principal share owner in the company, will invest another USD 250 million (around Rs 1,715 crore) in the group ... Read more

Does Competition Make Us More Creative?

Competition can bring out the best in salespeople, athletes, and participants in hot dog eating contests—but can it make employees more creative?

A recent working paper by Daniel P. Gross finds that competition can motivate creative types to produce radically novel, untested ideas, but that too much competition pushes them in the opposite direction. ... Read more

How Leaderless Groups End Up with Leaders

We’ve always known that communication is an important leadership skill. But most leadership research and advice is centered on what leaders say and how they say it, not on the underlying neural processes that govern communication between people... Read more

A New Driverless Car Set To Hit Indian Markets: Hers’s How It Works

Here is a glimpse of a driverless car that is all set to hit the Indian markets soon... Read more

FDI Equity Inflows

FDI Equity Inflows from top 10 countries Read more

A Digital Wallet from Uber India

The multinational online taxi dispatch company Uber, which is also the world's most-valuable startup, has planned to launch its own digital wallet in India. This would make India the first market to have this service from the San Francisco-based company
The closed wallet will only allow payments for rides hailed on Uber, and will be the goodbye sign for Uber's worldwide practice of accepting payments on credit cards. It also means that Indian customers will now have one more option other than paying by card, cash or through Paytm and Airtel Money digital wallets...Read more

Strategic Thinking and Planning in a Learning Culture

With each passing day, technology advances so rapidly that a cell phone, computer software, or game you bought six months ago is now obsolete. Technology has brought our world closer, and has not only changed the global social culture, but global business culture, as well. With these technological advances come great benefits to businesses such as Instant Messaging, Web meetings, and video teleconferences...Read more

Global Entrepreneurship Summit 2016

Global Entrepreneurship Summit 2016There will also be programming on June 22nd for a select group of entrepreneurs, the GES + / Emerging Entrepreneurs: Global Women and Youth Leaders, and we encourage investors to participate on the 22nd as well. This application opens February 22nd 12:00 a.m. Eastern Standard Time (EST) and closes on March 18th at 3:00 p.m. Eastern Standard Time (EST)
GES is focused on bringing together entrepreneurs who are growing their ventures and investors who are making debt or equity investments. For corporate leaders and others active in supporting the entrepreneurial ecosystem, GES has limited spots. Use this application if you are a financial investor or if you support business expansion and entrepreneurs in other ways. ...Read more

The Real Cost of Owning a Mobile Phone Around the World

Mobile phones have become an indispensable tool of communication not only in the developed world, but also in developing countries. While eight in ten people in the developing world now own a mobile phone, the price of being connected varies greatly around the world...Read more

How Design Thinking Improves the Creative Process

It’s not just IDEO implementing design thinking into everyday work. More companies are turning to this problem-solving approach, which focuses on customer challenges to improve anything from the design of a water bottle to the design of a community water system...Read more

India ranks 54th in internal policy support to global innovation

India ranks 54th in internal policy support to global innovation India ranks 54th in how its domestic policies support worldwide innovation, according to an analysis released by the Information Technology and Innovation Foundation (ITIF), a global technology policy think tank.
The findings come in a new report assessing 56 countries - comprising close to 90 per cent of the world's economy - on the extent to which, on a per capita basis, their economic and trade policies contribute to and detract from innovation globally.
The report found a strong correlation between countries' contributions to global innovation and their levels of domestic innovation success. ITIF urges policymakers, economists and pundits to consider innovation as important as trade for optimising global growth...Read more

Government expects Rs 30,000 crore investment in 74 textile parks

MUMBAI: The government is expecting Rs 30,000 crore investment in 74 textile parks and is planning to announce a new textile policy by April this year...Read more

How Global Trust In Business Compares To Government

Do you trust your country's business sector more than your government? Edelman's 2016 Trust Barometer revealed that people in most nations worldwide put their faith in business rather than government. Mexico has struggled with alarming levels of drug-related violence, as well as political corruption and it comes as little surprise that it has a massive trust disparity between business and government...Read more

Consultant of the Year - Operational Excellence - 2015

From a mere advisor to a business-critical arm of an organization who strategically steer the businesses towards the pinnacle of success, the role of a consultant has gained a much more impetus. Needless to say, the same demand has also led to the rise of countless domestic and foreign consulting firms which are churning out high and promising performers, thus making the domain one of the fastest growing industries. It is claimed that the numbers are likely to increase upto 2.2 lakh consultants working across nearly 9000 firms in India, over the next few years...Read more

Transforming Business Performance with a Strong Focus on Delivering Results

The consulting industry is a multifaceted global business sector that is facing many challenges and evolving quickly . The recent growth in the developing nations has created myriad opportunities for consulting firms, both in government and private sector contracts, in industries ranging from transportation to energy to health care . Consultancies that do well in this uncertain global economic environment will be those that emphasize their ability to create cost-savings, enhance efficiencies and deal effectively with government austerity programs or other dramatic changes in governmental goals. Management consulting and business advisory firms can assist businesses in identifying specific areas to drive growth . They can assist organizations identify the correct approach for growth, be it through identification of the “right” products/services/solutions, focused customer and market segmentation, understanding the supply demand dynamics and focusing the energy of the organization in profitable growth segments...Read more

Why ‘Sleep on It’ No Longer Sounds Like Great Advice

When we have a tough decision to make, we're often encouraged to lie down and clear our heads for the night. But surprising research from Uma R. Karmarkar and colleagues indicates that "sleeping on it" won't help us make the most confident choices...Read more

Government mulls a bank to deal with bad loans

Government mulls a bank to deal with bad loans NEW DELHI: The government is looking at a proposal to set up a bank or a company to deal with the burgeoning bad loans of state-owned banks, even as the views on the issue are "vertically divided".
"We have discussed it (setting up an asset reconstruction company), but you see the problem so far is that opinions are almost vertically divided on the issue," a senior government official told PTI.
According to some bankers, setting up a 'bad bank' would be a sound thing to do given the current situation where PSU banks are burdened with mounting non-performing assets (NPAs) or bad loans...Read more

A Smartphone That Costs $4 Is Set to Launch in India

An Indian company will launch the country’s (and possibly the world’s) cheapest smartphone this week, priced at the equivalent of less than $4.
The Freedom 251, manufactured by a company based on the outskirts of the capital New Delhi, will go on sale early Thursday morning, Indian newspaper Economic Times reports...Read more

How to Ensure the Success of Your Innovation Process

Innovation means a lot of things to a lot of people. One view is that innovation is the process of actively ensuring that good ideas get to the marketplace efficiently and effectively...Read more

India has more gold in RBI vaults than European central bank

Traditionally seen as the safest investment, it's not surprising to find that central banks of various countries are the largest holders of the world's gold reserve. The official gold is traditionally held to secure a nation's currency. An analysis of official gold reserves shows that in the past 15 years,...Read more

5 Multi-Modal logistics Parks to Come Up Along DFC

NEW DELHI: Five multi-modal logistic parks including one on the river front at Varanasi at an estimated cost of Rs 5000 crore would be set up along the Dedicated Freight Corridor (DFC) spanning across the country to facilitate seamless movement of goods...Read more

How to Build a Passionate Company

How to Build a Passionate CompanyExecutives have begun to understand that to build a great business, companies need a larger goal, one that transcends the traditional bottom line. The best and brightest talent are attracted to organizations that offer a broader purpose. But simply defining a purpose is not enough. It’s just a first step, your organization’s ante to get into the game. What sets companies apart, the companies where people love to work, is passion. People want to be passionate about what they do, and they want to be surrounded by people who are also passionate about what they do.
Unfortunately, the challenge for leaders is that there is no formal management theory for how to build, leverage, and measure the level of passion in your employees. It essentially falls into that ambiguous category of “you’ll know it when you see it"...Read more

The World's Top Countries for High-Skilled Employment

According to the World Economic Forum and International Labour Organization statistics, Luxembourg has the world's highest share of people in high-skilled employment. 59.5 percent of the small country's workforce is employed in occupations requiring tertiary education skills. This is primarily thanks to Luxembourg's small and open economy, which has a prominent financial sector, dependent on a high skillset...Read more

Why Digital Companies Grow Without Adding Headcount

Why Digital Companies Grow Without Adding HeadcountBy now we’re all familiar with examples of small and lean digital companies popping up out of nowhere and outcompeting larger, established companies. Insurgent startups, such as Instagram and Snapchat, manage to operate with far fewer resources than legacy companies in the same industry in the “pre-digital” era. Instagram had only 13 employees when it sold for $1 billion to Facebook in 2012, and Snapchat has approximately 350 employees. Compare that with Kodak, which at its peak employed over 60,000 employees...Read more

MM to invest Rs 8,000 cr on automotive plants in Maharashtra

Homegrown utility vehicle major Mahindra and Mahindra plans to invest Rs 8,000 crore on its automotive plants in Maharashtra over the next seven years as part of its expansion plans...Read more

Make In India Week

Make In India Week The Make in India initiative was launched globally in September 2014, as part of the Government of India’s renewed focus on invigorating the country’s manufacturing sector. The landmark initiative has made a tremendous impact on the investment climate of the country, and reflects in the significant growth of overall Foreign Direct Investment (FDI).
Since its launch, the Government of India has taken several reform initiatives to create an enabling environment that has provided a push to manufacturing, design, innovation and entrepreneurship. With a growth rate of 7.5%, India has emerged as the fastest growing economy globally and it remains an oasis in the midst of a subdued economic landscape. The Prime Minister has given further impetus to India’s growth with several innovative initiatives such as “Digital India”, “100 Smart Cities” and “Skill India”...Read more

Become Even More Successful

What Got You Here Won't Get You There: How Successful People Become Even More Successful is a book that has been written by one of the leading figures in the management arena, Marshall Goldsmith, and is directed towards enabling people achieve their full potential, by overcoming certain detrimental work habits...Read more

The Secret of Leadership: Stories to Awaken, Inspire and Unleash the Leader Within : Stories to Awaken, Inspire and Unleash the Leader Within

The Secret Of Leadership: Stories To Awaken, Inspire And Unleash The Leader Within, published in 2013, brings together simple and powerful examples that show readers how they too can become good leaders. The author says that every single person is the leader of their own life...Read more

How to Predict if a New Business Idea is Any Good

In 2008, entrepreneur Brian Chesky and his two San Francisco roommates made the rounds of Silicon Valley VC firms with what they thought was a great idea: a website and mobile app that would allow homeowners to open their homes to strangers to sleep on their floor while traveling, in exchange for a nightly fee...Read more

Companies Are Reimagining Business Processes with Algorithms

In the early 1990s, executives and managers welcomed information technology — databases, PC workstations, and automated systems — into their offices. They saw the potential for significant business gains. Computers wouldn’t just speed up processes or automate certain tasks — they could upset nearly all business processes and allow executives to rethink operations from the ground up. And so the reengineering movement was born...Read more

The hidden Plastic Economy

A behind the curtain look at how the credit card processing industry really works, and the huge, but often overlooked, role it plays in US economy...Read more

Enterprise Architecture Planning 2.0

No enterprise today can afford to spend a year or more incorporating digital technology into its core. The technology and the competition move too fast. Yet most Fortune 500 companies take at least that long just to put a new digital system in place, let alone to show results...Read more

Jugaad Innovation: A frugal and flexible approach to innovation for the 21st century (English)

Jugaad is a word often heard in general conversation in India. Whether to find ingenious solutions to problems or turn adversity into opportunity Indians swear by it. In this seminal book, Navi Radjou, Jaideep Prabhu, and Simone Ahuja challenge the very way a traditional organization thinks and acts. Leading companies such as Facebook, Future Group, GE, Google, PepsiCo, Philips, Renault-Nissan, Siemens, Suzlon, Tata Group, and YES BANK, among others, are already practicing jugaad to generate original ideas and pioneer growth...Read more

Leadership Forum: The Architecture of Management

Two of the world's leading management thinkers and two global CEOs discuss the changing nature of leadership in this excerpt...Read more

Collaborative Leadership for Sustainability

Most businesses now understand that their sustained global success depends upon the economic, social and ecological contexts...Read more

The Inspiring Stories of 10 Young Entrepreneurs Who Graduated from College into a Business of Their Own (English)

This title asserts that the ability to start a business is not defined by age or educational qualification. It takes energy and passion towards translating an idea into reality. Some stories portray how your first “office” can be your very own hostel room! The book presents the most inspiring stories of people like Saurabh Bansal, Shashank N. D., and Eshwar Vikas among several others to encourage budding entrepreneurs in their pursuits...Read more

Creating a Strategy That Works

Creating a Strategy That WorksThe most farsighted enterprises have mastered five unconventional practices for building and using distinctive capabilities.
Almost every business today faces major strategic challenges. The path to creating value is seldom clear. In an ongoing global survey of senior executives conducted by Strategy&, PwC’s strategy consulting business, more than half of the 4,400 respondents said they didn’t think they had a winning strategy. In another survey of more than 500 senior executives around the world, nine out of 10 conceded that they were missing major opportunities in the market. In the same survey, about 80 percent of those senior executives said that their overall strategy was not well understood, even within their own company...Read more

Any Old Storm in the Ports

The labor dispute at the U.S. West Coast ports may have ended, but its impact on manufacturers could be long and lingering as it exposed vulnerabilities within the global supply chain. Gene Seroka, executive director of the Port of Los Angeles, has estimated that it could take as much as three months to clear up the backlog of containers from cargo ships that were anchored offshore during the work slowdown...Read more

Operational Excellence Principles to Grow your Business

The word improvement in an operation means different things to differ­ent people. Some define it as lower operating cost or reduced inventory while others describe it in terms of increased efficiency or better quality. The process of improvement in an organization often involves management setting one of these goals, employees making changes in their areas to achieve it, then management setting a new goal...Read more

How to Lead at Your Best: Embracing four aspects of 'centered leadership' will help make you the best leader you can be

When we think of leadership, we often focus on external characteristics, practices, behaviour and actions that exemplary leaders demonstrate as they take...Read more

The 18 Best Analytics Tools Every Business Manager Should Know

The 18 Best Analytics Tools Every Business Manager Should KnowThe goal of any business analytic tool is to analyze data and extract actionable and commercially relevant information that you can use to increase results or performance. But with so many tools available it can be difficult to know what to use and when.
I thought it might be useful to look at some of the key analytics tools in use today and how they can be used in your business. Business experiments: Business experiments, experimental design and AB testing are all techniques for testing the validity of something – be that a strategic hypothesis, new product packaging or a marketing approach. It is basically about trying something in one part of the organization and then comparing it with another where the changes were not made (used as a control group). It’s useful if you have two or more options to decide between.
Visual analytics: Data can be analyzed in different ways and the simplest way is to create a visual or graph and look at it to spot patterns. This is an integrated approach that combines data analysis with data visualization and human interaction. It is especially useful when you are trying to make sense of a huge volume of data...Read more

IIT-Bombay develops satellite-based fog monitoring system

Scientists at the Indian Institute of Technology-Bombay (IIT-B) have developed a satellite-based fog monitoring system with the ultimate goal of integrating the fog information to air, rail and vehicular transportation management to ensure safe travel...Read more

The Art of Thinking Clearly (English)

Most people regret a lot of decisions they have taken, whether it is about their career or about backing the wrong horse. The Art Of Thinking Clearly says the reason for this is that human thought is influenced by so many factors...Read more

Co-Creating the Future: The Dawn of System Leadership

The systemic challenges we face are beyond the reach of existing institutions and their hierarchical authority structures...Read more

New Mining Policy

NEW DELHI: The government plans to transform the mining sector with a new policy by offering global and Indian firms about 100 large plots for exploration of various minerals with a reverse auction to explore, followed by another round of bidding to extract the ores, official sources said...Read more

Develop Your Company’s Cross-Functional Capabilities

Develop Your Company’s Cross-Functional CapabilitiesMost companies struggle to differentiate themselves. The few that succeed are those which stand apart because of their distinctive capabilities: the things they excel at doing, time and time again. In this excerpt from their new book, Strategy That Works, Paul Leinwand and Cesare Mainardi explain why distinctive capabilities are vital to success, and address a fundamental question that many companies overlook: How to bring these capabilities to scale, so that every part of the enterprise can call on them.
It’s tempting to think of distinctive capabilities as a kind of artistry performed by an elite corps of high-potential talent: the elite players work long hours and deliver unusual results, while the rest of the organization struggles along in its usual incoherent fashion. This approach rarely leads to success, especially if you have coherent competitors that have brought their capabilities to scale...Read more

The Strategy Book: How to Think and Act Strategically to Deliver Outstanding Results

Thinking strategically is what separates managers and leaders. Learn the fundamentals about how to create winning strategy and lead your team to deliver it. From understanding what strategy can do for you, through to creating a strategy and engaging others with strategy, this book offers practical guidance and expert tips. It is peppered with punchy, memorable examples from real leaders winning (and losing) with real world strategies... Read more

Auto Expo 2016

auto-expo-2016Keeping the Indian auto sector relevant to emerging realities facing carmakers – ranging from a nascent revival in demand to leveraging technology for innovation and tackling environmental concerns – is the backdrop against which the 13th Auto Expo is being organised this year.
The biennial motor show to be held in Delhi from February 5 to February 9, 2016, jointly organised by the Society of Indian Automobile Manufacturers (SIAM), Automotive Component Manufacturing Association of India (ACMA) and the Confederation of Indian Industry (CII), is expected to be the largest of its kind held in India ever with over 70 product launches and 7 lakh visitors in attendance spread over the five-day gala.
Auto Expo 2016 is taking place at a very interesting time for the Indian automotive industry. In an encouraging sign, after four years of tepid demand for automobiles due to a sluggish economy, passenger vehicle sales grew by a little under 8 percent at 2.77 lakh units in 2015, though this was nowhere near the double-digit percentage growth witnessed by the industry in earlier years. Also, the rural distress the country is witnessing on account of two consecutive monsoon failures has impacted two-wheeler sales adversely. Commercial vehicle sales have also been tepid...Read more

India leads global confidence index

India leads global confidence indexNEW DELHI: India continues to lead the global confidence index for the October-December '15 quarter at 131 points, the same as last quarter followed by Philippines, Indonesia and Thailand, a new report by researcher Nielsen's consumer confidence index said.
Nielsen said the index measures perceptions of local job prospects, personal finances and immediate spending intentions among more than 30,000 respondents with Internet access in 61 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.
In the latest online survey, conducted Nov 2-25, 2015, four in five (80%) urban Indian respondents indicated the highest level of optimism globally on job prospects, down one percentage point from the previous quarter. Similar trends were seen when respondents were questioned about perceptions on the state of their personal finances over the next 12 months...Read more

Defining Your Business Strategy

How you define your business strategy will determine the direction of your business and what it will look like in the future. By defining your business strategy clearly, you can develop your business or growth plan to achieve your business and personal goals...Read more

PCs' surrender to mobiles is complete

Data released last week showed personal computer sales fell for the fourth consecutive year — 2015 sales were 21% lower than the 2010 sales, which was the peak year. Though the 2015 sales figures for smartphones are not yet out, they are estimated to cross 1.5 billion units...Read more

For the first time, India's middle class is creating jobs

Startup India Action Plan reflects the recognition that technology-led entrepreneurship is a legitimate source of job and wealth creation, says Seedfund's Sanjay Anandaram...Read more

When Opportunity Resides Along the Edges

When Opportunity Resides Along the EdgesEveryone is looking for an edge, or advantage, in business. How do we win? How do we get ahead? What is the angle that will drive our company’s success? But an edge is not just a term for advantage itself; it can also be the place where you can find that advantage.
We define an “edge” as the outer rim that frames what you do and separates it, quite conveniently, from what you don’t. Edges are frontiers beyond which something changes. When you proceed beyond this border in business, the main thing that changes is risk
Edges are not necessarily clear. To the contrary, many edges are quite fuzzy. When you look to the horizon, are you always sure where the sea ends and the sky begins? In business, strategy edges are like that too. Rare is the exact definition of how a product is positioned, what value a product delivers, or where different customers give a business permission to play. We argue that opportunity resides in this very ambiguity. If its edges are not well defined, a business can redefine them, ever so slightly, in its favor. And by staying within this nebulous but familiar space instead of moving to the less comfortable adjacent expanse or beyond, a business can find brilliant new ways to leverage its existing assets....Read more

Mass Customization and the Factory of the Future

Manufacturing has seen ups and downs over the last century, from its heyday at the peak of America’s industrial might to a low point in the mid-1990s when offshoring, outsourcing and the tarnished image of the rust belt left some declaring it dead. Today manufacturing is resurgent and as it harnesses new technology some see a factory of the future taking shape that will astound prognosticators who’ve dismissed its role in the modern economy...Read more

Venture capital funding in the digital economy

Infographic mapping the top 100 digital venture capital deals by location, the most active digital venture capital investors in 2015 and e-commerce and e-services investment breakdown...Read more

The importance of being innovative in business

The importance of being innovative in businessThere is no genius in our company,” Katsuaki Watanabe had once said about Toyota in a Harvard Business Review interview. “We just do whatever we believe is right, trying every day to improve every little bit and piece. But when 70 years of very small improvements accumulate, they become a revolution.” Truer words have, perhaps, not been spoken on how a company grows into a veritable powerhouse. Not through a breakthrough moment, not overnight, not merely by establishing the right person at the right place, but by tiny, persistent steps towards improvement...Read more

The economies most dependent

Which countries rely most upon oil exports? A study by Bloomberg estimated that come 2018 the most reliant country will be Brunei, with oil exports projected to make up over 60 percent of GDP. This will be nearly 15 percent more than the second most reliant country, Kuwait, and perhaps surprisingly, almost double that of Saudi Arabia. This infographic recently featured in the Independent...Read more