A New Way for Entrepreneurs to Think About ITA New Way for Entrepreneurs to Think About IT

Entrepreneurs have historically taken one of two approaches to IT. Most think of IT as a “necessary evil.” For this group, IT is for back office support for their business ideas. They typically hire third parties to help them with IT and never make it part of their core business. A second set of entrepreneurs focus on information goods and think of IT as the product. These entrepreneurs typically have an engineering background, and schools that support this approach have strong engineering departments. Given their capabilities, these entrepreneurs take a “do-it-yourself” approach and develop software to support organizational needs.

But today there is a third approach, one that will become the dominant path for most entrepreneurs, especially those building information products. This third way thinks of IT as essential for interacting with all of a new venture’s stakeholders. Importantly, though, entrepreneurs with this perspective are happy to use existing IT building blocks to create those interfaces. Theirs is a “bricolage” approach to digital...Read more

Inside Sweden's innovation factoryInside Sweden's innovation factory

According to the laws of the business cosmos, Koenigsegg, the Swedish supercar manufacturer, should not exist. Nor should the company—with essentially one product every few years—have been allowed to come into existence.

Consider its 2016 release, the 1,500 hp hybrid Regera. For a starting price of $2 million—slightly less outside the United States—­Koenigsegg will deliver a bespoke, barely tamed race car to a rarefied clientele. This is hard enough to do even if, like Ferrari, one has nearly a century of manufacturing, racing triumph and automotive innovation as a buttress. Neither ­Koenigsegg nor its charismatic 43-year-old founder, Christian von Koenigsegg, has any such thing. To begin with, Koenigseggs don’t race. The cars are made for a very small number of millionaires who simply want to scorch the road...Read more

Ministry seeks Cabinet nod for new bidding papers for coal UMPPs

NEW DELHI: The power ministry has sent a note to the Cabinet seeking its approval for the new bidding document for domestic coal-based ultra mega power projects (UMPPs), a government official told ET. The new bidding document will replace the old standard bidding document for the 4,000 MW power projects."We expect the Cabinet to clear the document in a month.After that we will go ahead with the bidding process and issue tenders," the official said...Read more

Yamaha unveils 3-wheel mobility vehicle concept

Japanese conglomerate Yamaha Corporation recently unveiled new generation design concept model 05GEN based on the design philosophy of refined dynamism...Read more

What it Takes to Build an Award Winning Approach to Process Excellence

The PEX Network has been recognizing exceptional performance in process excellence since 2004. Over the years, we’ve seen categories come and go, we’ve enjoyed the arrival of the Awards infographics gallery, and we’ve heard “the winner is Singtel” more than a few times. This year’s PEX Awards were of outstanding pedigree so we spoke to three of our 2016 winners to find out what it takes to be a PEX Award winner and what difference it made when they got ‘back to the office’...Read more

Why a CEO’s Digital IQ Matters

You don’t have to be a technology company — or a technologist — to be concerned about the impact and rise of digital business. Whether they are implementing a proactive strategy or responding to external disruptions, companies today find themselves at different stages of digital transformations...Read more

Nandan Nilekani invests $25 million in KKR realty unit

Billionaire and Infosys co-founder Nandan Nilekani has put in about $25 million in a real estate non-banking finance company (NBFC) unit of KKR India, one of the local arms of private equity giant KKR & Co, according to people familiar with the matter... Read more

Startups for real India

The conversation around startups in India has revolved mostly around valuations and how ventures which have emerged over the past few years have scaled up or failed to do so. Central to these discussions has been the issue of funding and valuations and how top-flight investors across the globe are swooping in on Indian startups and, in effect, pushing up the numbers. However, of late, this discussion has veered towards failure: How many ventures which showed promise are struggling to scale with funds drying up and investors asking for a path to profitability and returns... Read more

Nandan Nilekani invests $25 million in KKR realty unit You Are What You Read: The Books That Inspire Successful Entrepreneurs

Everybody has a favourite book, a tome that has been a source of inspiration or influence, and entrepreneurs are no different, except that their top reads tend to be business books that have often helped guide them through their start-up journey.

Dale Carnegie’s ‘How to Win Friends & Influence People’, Jim Collins’ ‘Good to Great’, and The E-Myth Revisited Michael E. Gerber, are among the most popular, if not the most predictable titles adorning a founder’s bookshelf, but many others have proved equally insightful and impactful in shaping the business lives of some successful entrepreneurs.

Nikki Hollier gave up a successful career in IT to go it alone with her garden design business Styling Homes and Gardens, and the book that helped her through the transition is ‘The Breakthrough Experience’ by John Demartin... Read more

WPP’s CEO on Turning a Portfolio of Companies Into a Growth MachineWPP’s CEO on Turning a Portfolio of Companies Into a Growth Machine

Early in 1992 I went to the London headquarters of J.P. Morgan, which at that time was housed in a converted school building. I felt as if I were being called into the headmaster’s office. I was there to see WPP’s bankers, and they weren’t happy. Two years earlier we’d borrowed to make a giant acquisition; soon afterward, a global recession hit, and we struggled to make our debt payments. I had to meet with the bankers each quarter; they’d go over all our expenses and question our approach. Out of that near-death experience was born the strategy that has driven our growth for the past 25 years.

WPP is now the world’s largest advertising and marketing services company, with 190,000 employees in 3,000 offices in 112 countries. Particularly in our early years, we grew primarily by acquiring smaller firms—even today some people think of WPP as a holding company ... Read more

Should entrepreneurs pitch products or ideas for products?Should entrepreneurs pitch products or ideas for products?

In trying to secure financial backing for a new product, independent innovators generally face the question of how much to invest in development before showing it around. Should they create, say, a working prototype (and maybe even generate sales) or pitch the idea for the product and see if there is enough interest to go further?

hich is the better strategy for young innovators? What are the pros and cons of each? Can the risks be measured and mitigated?

Harvard Business School’s Hong Luo, an assistant professor in the Strategy Unit, studies entrepreneurship in Hollywood. Like other entrepreneurs, screenwriters struggle with the decision of how to advance their product ... Read more

The Three Box Solution: A Strategy for Leading Innovation

Please note that orders which exceed the quantity limit will be auto-canceled. This is applicable across sellers ... Read more

How to Navigate a Digital TransformationHow to Navigate a Digital Transformation

An organization is essentially the sum total of its physical, financial, human, intellectual, and relationship capital. Different industries and different business models have always maintained different percentages of these asset types. Manufacturers invest most of their capital into physical assets, while high-tech firms invest in R&D to create new intellectual capital. But all assets are not created equal, especially as the technological landscape changes.

In today’s market, tech platforms enable IP and relationships to scale rapidly, and at near-zero cost. This is the phenomenon that has led to exciting platform businesses like Facebook, LinkedIn, Match.com, Uber, and Airbnb. Even when these firms rely on physical assets, like cars for Uber, they own the technology, not the physical asset... Read more

SBI-associates mega mergerSBI-associates mega merger

What does a bank merger, which has been in discussion for over a decade, mean for the banks in focus and the overall banking system? The amalgamation of five associate banks of the State Bank of India (SBI) with the parent is the biggest merger in recent times. It will make SBI—already the country’s largest commercial lender by assets and deposits—even larger.

The union cabinet has approved the proposal whereby State Bank of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT), State Bank of Mysore (SBM), State Bank of Patiala and the State Bank of Hyderabad will merge with SBI. The Bharatiya Mahila Bank (BMB) will also be merged with SBI, as part of the move... Read more

Incentives announced for textiles will help create jobs, says Nirmala SitharamanIncentives announced for textiles will help create jobs, says Nirmala Sitharaman

The "extra push" given to the textiles industry through an incentive package will help create more jobs and push exports, Commerce and Industry Minister Nirmala Sitharaman said today.

"It is a sector where India has gained a lot of advantage ... It has a great potential for job creation," the minister said.

This "extra push" was given to the sector due to various global developments, she said

The Union Cabinet yesterday approved a Rs 6,000 crore package for textiles and apparel sector with an aim to create one crore new jobs in three years and attract investments of $ 11 billion while eyeing $30 billion in exports... Read more

Strategic Plans Are Less Important than Strategic PlanningStrategic Plans Are Less Important than Strategic Planning

Mention the word “plan” to most managers and the image that springs to their minds might well be a travel plan. Drawn up by travel agents, these lay out in clear and certain terms the sequence of your trip and what to expect when, specifying: where you’re going from, your destination, where you’ll stay en route and when, how you’ll travel, and so forth.

Or they’ll think of the kind of plans builders employ, often referred to as “blueprints.” The result is much the same as with travel: a specific beginning and end with precise steps along the way. Both plans are neat, prescribed, determined — and manageable. You figure out what to do and then do it. ... Read more

Cabinet clears mega-spectrum auction plan

The Union Cabinet today approved the mega-spectrum auction plan which is estimated to fetch about Rs 5.66 lakh crore to the exchequer.

"Yes, spectrum auction proposal has been cleared," an official source said... Read more

Inside Ola Innovation Labs

Ankit Bhati may be an entrepreneur, but tech is what makes his eyes light up. That is a good thing for Ola, given the number of projects he’s able to bring his focus to at Ola Innovations Lab, where research projects, both for near-term commercial use and longer-term strategic purposes, are being nurtured.... Read more

Top Companies to Work for in India

Work is where the heart is: India’s best companies for employees... Read more

Do Managers and LeadersDo Managers and Leaders Really Do Different Things?

Business people and business theorists love to draw distinctions between management and leadership. They tell us that “managers do things right; leaders do the right thing” and “management is administration, but leadership is innovation.”

Management, we seem to think, is what we need to do, but leadership is what we want to do.

This is a conundrum that many of us describe, but is it real? Are leadership and management fundamentally different roles in practice? Or do they simply require us to focus on different things? ... Read more

Brain Disruption: Radical Innovation in Business through Improv

Looking for new ideas? Need your teams to come up with that “next big thing?” Want to infuse or perpetuate a culture of innovation? Follow along with these two dynamic authors as they take you through Brain Disruption, one of the most engaging and powerful methods to getting individuals, teams and organizations to step up and solve problems. Steeped in the world of improv comedy, this no-nonsense guide provides a window into the neuroscience behind creativity and idea generation. Filled with exercises and activities, you’ll be able to apply the lessons in this book almost immediately... Read more

It's 100% FDI in most sectors, including defenceInnovating through design

The design philosophy that is imperative to our society today is that of reducing the negative fallout of consumerism. Products are also losing their relevance in increasingly shorter periods of time, forcing consumers to make more purchases more frequently. As technologies evolve faster, design has to adapt to the shorter lifecycles of these products. This ever-increasing pace of change makes it difficult to move against the grain of conventional practices, thus making it a struggle to create ‘alternative design perspectives’ that could seed positive change

Design Today

So how does design create a greater impact in instilling positive change? ... Read more

Leadership Lessons of the Great Recession: Options for Economic Downturns

In the new case study “Honeywell and the Great Recession,” Sandra Sucher and Susan Winterberg explore employer tradeoffs when a downturn hits: conducting layoffs vs. orchestrating furloughs. Plus: Video interviews with Honeywell ... Read more

Cabinet approves National Civil Aviation PolicyWhat Innovative Companies Can Learn from Keurig’s Highs and Lows

Leading an organization can sometimes feel like plate spinning: racing from pole to pole, trying to keep each plate aloft and whirling. To lead (and to spin), you have to achieve and maintain balance. Within an enterprise, this means balancing the demands of current operations while laying the groundwork for future opportunities, as well as reviewing past activities and policies that may be holding back your organization

Too often, leaders focus only on current operations because it is the performance engine that generates the funds necessary to stay in play. But an organization’s success may be relatively fleeting if its leaders don’t simultaneously attend to the future and the past. It’s a balancing act that requires a unique mindset, a particular set of skills and tools, and a specific strategy

Continuously reinventing your organization doesn’t mean you have to start from scratch with each new innovation. Exploring new opportunities is an incremental process that begins with sensitivity to changes in the broader environment. These changes, often unclear and barely perceptible, foreshadow new trends in human behavior, technology, and demographics. Futurists call them “weak signals.”

Weak signals — specifically Americans’ desire for flavorful, convenient, fresh coffee — in the late 1980s, inspired the development of the Keurig coffee system. Keurig’s founders started from scratch when they created their proprietary coffeemaker and K-cup technology. Green Mountain Coffee Roasters (GMCR) read these same weak signals but chose the lower-risk option of investing in Keurig (in 1996)... Read more

It's 100% FDI in most sectors, including defenceIt's 100% FDI in most sectors, including defence

The NDA government on Monday announced, what it termed, a “radical liberalisation” of the Foreign Direct Investment (FDI) regime by easing norms for a host of important sectors including defence, civil aviation and pharmaceuticals, opening them up for complete foreign ownership.

The decision’s timing assumes significance as it comes soon after Raghuram Rajan’s announcement last Saturday that he won't be seeking another term as the Reserve Bank of India Governor. The governor's decision days before the possible exit of Britain from the European Union, had triggered fears that India's growth narrative could unravel... Read more

CLP buys 49 per cent in Suzlon’s solar project in TelanganaCLP buys 49 per cent in Suzlon’s solar project in Telangana

Hong Kong-based CLP Group has forayed into the Indian solar energy market by acquiring 49% stake in Suzlon EnergyBSE 1.72 %'s 100 mw project in Telangana, with the option to acquire the balance stake later. India's solar energy sector has seen record capacity additions, with tariff bids for new projects falling to unprecedented lows, as the government is pushing hard to achieve the ambitious target of 100,000 mw of grid-connected solar power by 2022.

CLP India, which lost out to competition in these bids, has managed to grab a share of the growing pie with this deal. ET had first reported the deal on May 30. "Given the global commitment to cleaner energy, it is obvious that at some point in future a company like CLP will be making only clean investments," Rajiv Mishra, managing director, CLP India, told ET... Read more

Break Through to Yes: Unlocking the Possible within a Culture of Collaboration

The traditional hierarchy of business leadership is being proven more and more each year to be unsustainable... Read more

A Three-Box Solution to Managing Innovation

In The Three-Box Solution, Vijay Govindarajan adapts an ancient Hindu philosophy to balance a company's often competing realities of past, present, and future. The more we can plan for opportunity, the better the possibility of creating a successful future...Read more

Cabinet approves National Civil Aviation PolicyCabinet approves National Civil Aviation Policy

he National Civil Aviation Policy (NCAP) finally got the Union Cabinet’s approval on Wednesday, almost eight months after the draft policy was announced.

The key highlight of the NCAP, which has been tweaked from its draft version, is the abolition of the 5/20 rule which stipulated that Indian airlines could fly overseas only if they had been in operations for five years and had a fleet of 20 aircraft.

At about 1.30 pm on Wednesday, P Ashok Gajapathi Raju, minister of civil aviation, government of India, tweeted, “NDA government clears India’s first ever integrated National Civil Aviation policy. This will be a game-changer for the sector.” Since then, the minister, who is the TDP MP from Vizianagaram, has been actively tweeting about the key highlights of the policy...Read more

Keeping it safe and traceable throughout the food supply chainKeeping it safe and traceable throughout the food supply chain

Connecting with consumers is becoming increasingly important as digital distractions increase and shoppers spread their budgets across multiple trips to the store. And while food retailers are constantly seeking new ways to connect with shoppers via mobile channels and inside the stores, there is another piece of the puzzle that is somewhat less glamorous but just as important -- food safety. Food safety might not be one of the first terms that comes to mind when dealing with engaging and connecting with consumers, but giving shoppers information about the quality of the foods they buy and where their food came from can be vital when establishing trusting and meaningful relationships among retailers and shoppers...Read more

Adani Enterprises To Set Up 1 Million Tonne Copper Plant

Adani Enterprises is in the process of setting up a copper smelter project with a capacity of one million tonnes per annum at an investment of Rs 10,000 crore at Adani Port Special Economic Zone (APSEZ) in Gujarat...Read more

Tata Power to buy 25% in Resurgent Power for Rs 1,800 croreTata Power to buy 25% in Resurgent Power for Rs 1,800 crore

Tata Power, India's largest private power producer, will purchase 25% of Resurgent Power for $300 million (around Rs 1,800 crore) as part of a consortium to primarily buy both coal-fired and hydro power assets in India, besides looking at power transmission companies, two people with direct knowledge of the plan said.

Resurgent Power is founded by a consortium of two sovereign funds from Middle East, an overseas pension fund from Canada and local private equity fund ICICI Ventures. Kuwait Investment Authority, or KIA, Oman State General Reserve Fund, or OSGRF, Canadian pension fund Caisse de depot placement du Quebec, or CDPQ and local private equity fund ICICI Ventures own the consortium...Read more

Why Microsoft Linked Up with LinkedInWhy Microsoft Linked Up with LinkedIn

On Monday, LinkedIn agreed to be acquired by Microsoft for US$26.2 billion in cash — once again proving the old adage that who you know matters as much as what you know. (Oh, and congratulations to LinkedIn cofounder Reid Hoffman, an s+b contributor!)

hat may seem a counterintuitive conclusion in our 21st-century knowledge economy, in which unlimited bandwidth, pervasive connectivity, and transparency should theoretically allow professional talent to meet professional talent acquirers without an intermediary. At some level, LinkedIn, which enables people to establish connections with friends, acquaintances, and complete strangers for the purpose of professional development, shouldn’t have to exist in the 2010s...Read more

Govt mulls Rs 10,000-cr bioenergy mission from FY18

The Centre is planning to launch an integrated bioenergy mission with an outlay of Rs 10,000 crore from the next financial year to enhance use of bio-fuels like ethanol and biogas for reducing consumption of fossil fuels...Read more

Two revolutions set to transform India’s energy sector

Two revolutions are set to transform the energy sector in India: the 2015 tariff parity of solar with thermal energy, and affordable storage that could make solar a 24×7 service by 2020. The last few solar auctions in states like Andhra Pradesh, Telangana and Rajasthan have testified the efficacy of the solar-thermal tariff parity...Read more

Machine Intelligence Will Let Us All Work Like CEOs

When I started my career I was astounded by how superhuman some Fortune 500 executives were. It seemed they were magicians. Every time they answered an impromptu question, the response was refined. Every email they sent was worded perfectly, every decision they made based on deep market knowledge and up-to-date information. How did they do it?..Read more

These Are the 12 Biggest Mergers and Acquisitions of 2016These Are the 12 Biggest Mergers and Acquisitions of 2016

Microsoft's acquisition of LinkedIn isn't even top.

In a move that no one saw coming, Microsoft announced it would acquire social network, LinkedIn, in what is the largest tech deal of 2016 Monday morning.

So where does it stand on the board among all sectors?

Many market watchers have predicted that 2016 will still be a robust year for mergers and acquisitions, largely boosted by a series of smaller deals. It’s not expected to beat 2015’s figures, when deal volumed skyrocketed above $5 trillion, buoyed by several mega-deals—some of which have since fallen through...Read more

4 Principles Every Business Needs to Achieve Success and Drive Results

Business and leadership in general are fast changing worlds. But too often policies, procedures, and bureaucracy can slow necessary changes to a crawl, and negatively affect a company’s bottom line...Read more

Innovation, Mayo Clinic-Style

Q. Most people would agree that healthcare is a fractured system. How is one of the world’s leading healthcare organizations tackling this issue?
To date, the system has been optimized to mitigate risk, not to create value—but that is beginning to change. The main issue is, as ironic as it sounds, healthcare has not been sufficiently patient-focused. The traditional model is more like a ‘conveyor-belt’, whereby a patient moves from one specialist to another, and he is the only constant: he might go from a cardiologist to a radiologist to an oncologist, and it’s up to him to preserve his ‘story’ throughout these encounters...Read more

Tata Power acquires Welspun Energy's renewable assets

NEW DELHI/MUMBAI: Tata Power Company has said its renewables arm has signed an agreement with Welspun Energy Pvt Ltd to acquire its green energy portfolio for an estimated at Rs 10,000 crore ($1.4 billion)...Read more

Why Popular Strategies Always FadeWhy Popular Strategies Always Fade

For nearly 50 years, “strategy” has been a business of promoting universal prescriptions based on what appears to explain the success of a few revered companies. At first glance, this practice makes perfect sense. Why not draw lessons from those who seem to have figured it all out? In reality, though, the approach has the deadly effect of separating the true owners of a company’s strategy (the prescription promoters) from those implementing it (management). No doubt, the promoters work hard to win management’s acceptance of their concept. But when the inevitable bumps in the road appear, the strategy concept is ditched, often with management saying it doesn’t work and its promoters blaming poor implementation...Read more

The Go-to-Market Approach Startups Need to Adopt

The Go-to-Market Approach Startups Need to AdoptIt’s estimated that 100,000 technology startups reach the basic funding stage every year. Angel investors (including friends and family members) help about half of these companies with their initial development. Fewer than 10% (about 4,000) are then able to show enough promise to actually receive a first round of capital from venture or private equity sources.

If you are an entrepreneurial manager who has reached this milestone, it’s a major achievement — your technology has progressed from an interesting concept to a promising commercial opportunity. You’ve probably demonstrated your product’s potential with a subset of customers, and now experienced investors are willing to place a bet on you...Read more

New CEOs should focus on bold moves

The success of CEOs is deeply linked to the success of the companies they lead, but the vast literature on the topic explores this relationship largely in qualitative terms.

It’s easy to be misled by outliers or to conclude, mistakenly, that prominent actions which seem correlated with success were responsible for it...Read more

IIM Bangalore & IIIT-B sign MoU to provide mentorship to startupsIIM Bangalore & IIIT-B sign MoU to provide mentorship to startups

The International Institute of Information Technology Bangalore (IIIT-B) and the Indian Institute of Management Bangalore (IIM-B) entered into a Memorandum of Understanding (MoU) on Wednesday with the aim to share their expertise in the areas of technology and management respectively with the start-ups being incubated in their respective innovation centres.

“IIM-B and IIIT-B, from their collective experience in nurturing entrepreneurs and startups over the past decade, recognise their mutual interest in positively influencing the technology startup ecosystem in India and the importance of collaborating with each other to nurture early stage technology ventures and help them in shaping appropriate business models,” said Professor Suresh Bhagavatula, Chairperson, NS Raghavan Centre for Entrepreneurial Learning at IIM-B...Read more

India's Entertainment & Media industry to grow to $40 billion by 2020India's Entertainment & Media industry to grow to $40 billion by 2020

The entertainment and media industry in India is expected to cross $40 billion by 2020 from a current $25.77 billion, a compound annual growth rate (CAGR) of 10.3 percent in this period, according to PricewaterhouseCoopers’s (PwC) data released in the Global Entertainment and Media Outlook 2016-2020, released on Wednesday.

According to the report, box office collections in India are estimated to grow at CAGR of 10.9 percent to $2.74 billion in 2020 from $1.64 billion in 2015. India is the largest film industry, in terms of ticket sales. Ticket sales are forecast to grow to 2.80 billion in 2020 from 2.04 billion in 2015. China will be close to overtaking India by 2020, in terms of ticket sales...Read more

Made-in-Chennai heart pump to cost one-third

CHENNAI: Frontier Lifeline , a Chennai-based heart hospital has tied up with Russian scientists to manufacture a low-cost mechanical heart pump that can serve as an alternative to a transplant or as a temporary ...Read more

World's most innovative countries

Infographic charting the top 10 most innovative countries, global innovation index rankings, the link between innovation and GDP and more...Read more

The Curious Downside of an Owner’s MindsetThe Curious Downside of an Owner’s Mindset

One of the great innovations in business, which has held sway since 1976, is the idea that professional managers should have an owner’s mindset—that is, they should treat their company’s money as if it were their own. The idea, outlined by Jensen and Meckling in the Theory of the Firm, worked like rocket fuel in the private equity industry and, with somewhat more mixed success, spawned many efforts to align management compensation of public companies with shareholder returns. It was, in essence, a way to make managers behave the same way you would expect a company founder to behave: Watching every dollar that came in or out, reinvesting cash to build the business, refusing to allow fat or waste to accumulate...Read more

India is now the second largest Internet user market, after ChinaIndia is now the second largest Internet user market, after China

Each year, Mary Meeker, partner at Silicon Valley based venture capital firm Kleiner Perkins Caufield & Byers (KPCB), and her team compile the much vaunted Internet Trends report. At Forbes India, we have, in the past, written about how Mary Meeker may well be an oracle of the internet age. This fact, perhaps, makes the beginning of the report for 2016 all the more sobering.

Global Internet user growth, it states, is flat at 9% year-on-year (YoY), and smartphone user growth has declined from 31% YoY to 21%. Add to that the high penetration rates in developed markets and it is clear why, as the report suggests, the era of easy growth for internet companies is over...Read more

CEOs that deliver top value

In the last decade CEO salaries have seen a spike, but there is also greater scrutiny over CEO performance. A study commissioned by TOI to global staffing company Randstad, identifies which Indian company got the best value for its payout to a CEO...Read more

Stop Saying Big Companies Can’t InnovateStop Saying Big Companies Can’t Innovate

Some business pundits today believe innovation ignites better in startups than in large, established corporations. They believe big companies are weighed down by their own success, too invested in the past to create and execute new ideas. They say, “You can’t teach an old dog new tricks.” I disagree.

In fact, a lot of big companies have proven they are better positioned than emergent firms to create and execute innovation, however on-fire a startup may be. Consider, for example, Hasbro’s evolution from a product company in the 1990s into the brand experience powerhouse it is today by leveraging its core brands (for example, spreading Transformers across multiple platforms including toys...Read more

How successful start-up teams allocate rolesHow successful start-up teams allocate roles

When co-founders get together to build a new venture one of the first and most important decisions they must make is who will do what in the new organisation. When co-founders have highly complementary skills relevant to their venture, this division of task roles is straightforward. However, founding teams rarely come together because of complementary expertise. In many cases individuals will meet at school or work and decide to plunge into a new venture together, thus co-founders often have overlapping skills making task division problematic...Read more

New green norms to make power, fuels, cars costlier

NEW DELHI: Consumers will have to shell out more for power, fuel and cars in a few years as these industries begin to pass on the burden of technology upgrades being put in place for meeting increasingly stringent environmental and emission norms...Read more

Innovating through designInnovating through design

Design has an immense ability to bring about systemic changes in our lives. It is embedded so deeply in our everyday experience that we find it difficult to draw lines to distinguish where the influence of design begins and where it ends. Design, thus, creates a greater sense of mystique in the intensity of its impact.

Fundamentally, design has the ability to humanise experiences, whether it is the act of using a stove or driving an automobile. It creates that intervention between the user and the object in its most basic sense—it improves our way of life by resolving challenges. Whether it is a handle grip on a cooking pan or the navigation of a smartphone, both need intense design thinking that brings together creative, logical, ergonomic and functional resolutions....Read more

Banking sector reforms set to get bigger and better

The government is mulling Indradhanush-II, expanding the scope of banking reforms to get rid of bad loans, manage risks better, bring millions of un-banked and under-banked people into the fold as well as create a holding company for the public sector banks (PSBs)...Read more

Corporate Social Impact Starts From Within—and From the TopCorporate Social Impact Starts From Within—and From the Top

chobani-headerChobani founder and chief executive Hamdi Ulukaya just announced that the company would be providing its 2,000 full-time employees with a combined 10 percent ownership stake in the company stock when it goes public or gets sold. The number of shares per employee would be determined based on tenure, but with the upstate New York yogurt company valued at $3 billion, the average payout is estimated to start at $150,000 per worker and go upwards of $1 million for the most long-standing employee...Read more

The clean and green strategy

Lower tariffs, enabling policies and investor interest have given a fillip to India's renewable energy sector. Here's a snapshot of where it stands...Read more

A Tool to Map Your Next Digital InitiativeA Tool to Map Your Next Digital Initiative

Given all the attention that “digital” is getting at the moment, you would be forgiven for thinking that it is somehow new. In fact, the relentless drive to embrace digital technologies has been ongoing for many decades.

What also seems to have been forgotten are the lessons from these earlier attempts to leverage IT (remember that IT is a digital technology). Unfortunately, the history of IT investments in most organizations is far from stellar: Research over the years suggests that the overall failure rate of IT projects is around 70%. We know that when IT projects fail, it is usually not because the technology didn’t work (although this can sometimes be the case), but because the changes required at an organizational and employee level weren’t managed effectively. Quite simply, adding technology does not automatically confer expected benefits; these benefits have to be unlocked and this can only happen through achieving organizational changes...Read more

Rel Entertainment sells majority as Tang Media infuses $200 million in IM GlobalRel Entertainment sells majority as Tang Media infuses $200 million in IM Global

MUMBAI: Reliance Entertainment's majority stake in Hollywood firm IM Global will be pared to 30% after an equity infusion of $200 million by Tang Media Partners (TMP). The Anil Ambani-led entertainment company had picked up a majority stake in IM Global, an independent international film and television production, sales and distribution company in 2010 from founder Stuart Ford. TMP will have a controlling 51% stake in the company and takeover the operations of IM Global, while Reliance Entertainment will remain as financial investor after the restructuring. Donald Tang, founding partner of TMP, will be the executive chairman of the company...Read more

To Go Digital, Leaders Have to Change Some Core BeliefsTo Go Digital, Leaders Have to Change Some Core Beliefs

Despite a great deal of lip service to digital transformation, the effect of all these great words on most companies is this: not much.

Digital transformation halts, or fails, for many reasons—but most often it’s because minor changes at the surface level do nothing to affect the fundamental operations of a company. Appointing a Chief Digital Officer, with no budget and no clear mandate, is not digital transformation. Increasing the social media marketing budget is not digital transformation. Even building an app is not digital transformation. Many established organizations hope that they can stay competitive making only minor tweaks—when these new disruptors have a different approach to everything.

Real digital transformation requires transformation at a deeper level—transformation of the leadership team’s core beliefs. Changes at the surface create small, local differences. Changes of belief percolate throughout an organization. This is why most digital transformations are a lot of talk, a little action, and very little real effect...Read more

Cabinet clears India Post's payments bank proposal

NEW DELHI: Government today cleared proposal to set up India Post payments bank with a corpus of Rs 800 crore and has plans to have 650 branches operational by September 2017, Telecom Minister Ravi Shankar Prasad said today...Read more

A 5-yr high for Indian economy

India has posted the highest GDP growth since 2011-12, lower-than-estimated fiscal deficit and 8.5% core sector growth in the first month of the new financial year (2016-17) — this just ahead of predictions of an above-normal monsoon...Read more

Missiles, copters, subs: Anil Ambani lays out an ambitious defence planMissiles, copters, subs: Anil Ambani lays out an ambitious defence plan

Anil Ambani's Reliance Group has never made a military helicopter, missile system or submarine in its history but that isn't stopping the Indian tycoon from seeking to win contracts to manufacture all of that military hardware and more.

Known for taking some ambitious bets over the past decade, some of which have failed to deliver, Ambani's plans to turn Reliance into a major defence company may be one of his boldest yet. It has already bid for Rs 84,000 crores ($12.5 billion) in government contracts, senior executives said, though it hasn't yet won any of those...Read more

5 barriers to sustained business growth

Every business is different but more or less all of them, from the sole trader to the large multinational, share that same inherent drive to grow in size. While some businesses may naturally plateau earlier than others in terms of their size, many will continue to grow larger and, as a result, increasingly complex...Read more

Innovation Is a Process: 7 Ways to Unleash It in a Big Company

Traditional wisdom says that big companies – complex and encumbered by shareholders, legacy IT systems, and outdated processes - are slow moving and not very innovative. Meanwhile, start ups and smaller competitors are nimble and able to outpace their sluggish rivals. That version of reality is, in many ways, borne out by recent corporate history with examples such as Blockbuster losing out to Netflix, or Apple’s iPhone swallowing up any demand for RIM’s Blackberries...Read more

The Best Retailers Combine Bricks and ClicksThe Best Retailers Combine Bricks and Clicks

Retail profits are plummeting. Stores are closing. Malls are emptying. The depressing stories just keep coming. Reading the Macy’s, Nordstrom, and Target earnings announcements is about as uplifting as a tour of an intensive care unit. The Internet is apparently taking down yet another industry. Brick and mortar stores seem to be going the way of the yellow pages. Sure enough, the Census Bureau just released data showing that online retail sales surged 15.2 percent between the first quarter of 2015 and the first quarter of 2016...Read more

Forbes Global CEO Conference to be held in JakartaForbes Global CEO Conference to be held in Jakarta

The 16th edition of the Forbes Global CEO Conference, an annual gathering of some 400 of the world’s most influential CEOs, entrepreneurs and thought leaders in the world, will be held in Jakarta, Indonesia from November 29, 2016 to December 1, 2016.

“Under the theme of ‘Rising to the Challenge’, this year’s conference will focus on how leaders globally are dealing with today’s economic environment,” a statement issued by Forbes Media LLC on Tuesday said...Read more

Tom Peters Wants You to Read

Tom Peters Wants You to ReadThe legendary management guru believes burying your nose in a book can be the most effective strategy for succeeding in business.

Tom Peters. You know the guy. He branded himself with an “!” after his name. He and Bob Waterman wrote one of the best-selling business books of all time.

Peters is one of the handful of people who helped transform the business book genre from a staid backwater into a mass market — with 1.8 million titles in print, it’s the fifth-largest book category on Amazon. He has written 29 of those titles and sold more than 10 million copies of them. In the process, Peters helped define the term business guru and inspired more wannabes than Madonna. At age 73, he enjoys an engaged, multigenerational audience, including 135,000 Twitter followers...Read more