Financial engineering is replacing real engineeringFinancial engineering is replacing real engineering

Once upon a time, as fairy tales state, business success relied on making good useful products and selling them to customers, fulfilling a need. Over time, financial engineering has replaced real engineering. Share buybacks and mergers and acquisitions (M&As) are part of this trend.

Share buybacks or auto-cannibalism
Corporations are currently indulging in auto-cannibalism: Buying back their own shares or returning capital to shareholders in record amounts, thereby providing crucial impetus to the tripling of US stock prices. In 2015, US shareholders received nearly $1 trillion in cash as dividends, share repurchases or capital returns. Since 2009, dividends and buybacks have been increasing at double-digit rates. High dividend payouts have proved attractive to income investors looking for yield in a period of very low interest rates...Read more

Will the draft Gold Monetisation Scheme deliver?

In what is, from all accounts, a clear and emphatic demonstration of the sagacity of Finance Minister Arun Jaitley, the finance ministry while notifying a draft of the Gold Monetisation Scheme for public comment, chose not to notify the other Sovereign Gold Bond Scheme. In my opinion piece on April 17, 2015, I had argued that such a scheme would not deliver in practice and could even potentially make the fisc/exchequer take a hit of trillions of rupees and might thus end up being fiscally overwhelming and way too disruptive. I brought out the fiscal risk to the exchequer of monumental proportions which, paradoxically, would be directly proportional to the extent of success of sovereign gold bond scheme, if short gold exposure is not hedged, and no reduction in gold imports, if it is hedged...Read more

$1 trillion extra GDP by 2020 if all Indians get online

Four of five Indians could afford the internet if data costs fell by 66 per cent, according to a Facebook-commissioned report on Internet access. But Indian telecom operators already run data services at a 11 per cent loss, making cost-cutting difficult...Read more

Legacy of family business gives advantage to startup foundersLegacy of family business gives advantage to startup founders

CHENNAI: Times would have been a lot different in 1974 when Mithun Sacheti's parents started niche jewellery store Jaipur Gems in Mumbai. But when the 37-year-old son decided to start his own online jewellery portal CaratLane in 2007 from Chennai, having a legacy did come to his aid. Having overseen the South India expansion of his family business, Sacheti had an advantage which a first generation entrepreneur might not get most times - a head start...Read more

Tata launches online marketplace with a difference

Google was one of the last search engines to commence operations but ended up becoming the most popular one because of its differentiated algorithm. This was the parallel that Kumar Rameshwar Singh Jamwal, Executive Director of Tata Industries drew to explain why the $108-billion Tata Group’s online marketplace, launched on Friday, could be successful despite being a late entrant into the market...Read more

World’s Most Admired Companies

There's a new AAA standard in corporate America: the one-two three punch of Apple, Alphabet, and Amazon. For the fourth time, our list of the World’s Most Admired Companies Top 50 All-Stars is led by a trio of tech giants under 40 years old. They preside over a class of blue chips and even younger tech stalwarts, such as Facebook (No. 14), Salesforce (No. 34), and Netflix, which makes a return to the Top 50 at an impressive No. 19. They also are joined by newcomers Visa and Publix, which make debuts at Nos. 47 and 49. See the full list of the Top 50 below, or use the tools at left to view all 340 companies in 54 industries...Read more

Listening Is an Overlooked Leadership ToolListening Is an Overlooked Leadership Tool

I ask this question a lot. My team knows that when they come to me with a question, this is likely the question I’ll come back with first. Sometimes I even preface it with, “I don’t know.” As leaders in our organizations, it’s up to us to coach colleagues and our employees through finding that answer. More often than not, when I ask this question, my team has a better answer than I do — or one that I hadn’t thought about before.

It can be a powerful technique, especially if there is no single right answer – a situation that will be familiar to anyone doing leading-edge work. But it only works in an organization that values listening...Read more

Bank Of India to now settle tea e-auctions

KOLKATA: IndusInd Bank BSE 0.99 %, which has been the settlement bank for e-auction for the Rs 17,000 crore tea industry, is set to lose the status and Rs 8,000 crore business in the process...Read more

India home to 56 of the world's largest public firms

Mukesh Ambani-led Reliance Industries leads the pack of 56 Indian firms in Forbes's annual list of the world's 2,000 largest and most powerful public companies, with the US leading the list with 586 companies...Read more

India auctions oil, gas fields for the first time since 2010India auctions oil, gas fields for the first time since 2010

India is putting up for auction nearly four dozen small oil and gas fields in the first such sale in six years, the oil ministry said in a newspaper advertisement on Tuesday.

A successful auction of the small oil and gas fields is seen as crucial to a recently announced hydrocarbon policy, which India hopes will unlock energy resources worth $40 billion by simplifying rules and offering pricing incentives.

The world's fourth-biggest oil and gas consumer imports nearly three-quarters of its energy requirements, but Prime Minister Narendra Modi has set a target of cutting its fuel import dependency to two-thirds by 2022 and to half by 2030...Read more

Find Your Sweet Spot To Excel As An Entrepreneur

about a cause that they forget to consider the lack of business potential, while others are so enamored with profit that they jeopardize their ethics. Both ends of this spectrum fail to bring long-term satisfaction or success...Read more

Small Customer Today, Revenue Giant Tomorrow

Most large companies rely on bread-and-butter customers, those whose repeat sales have long provided a steady stream of revenue. But with each new digital innovation, this model loses some of its luster. Telecom companies feeling price pressure from over-the-top mobile players, health insurance payors coping with the spread of private health exchanges and increased consumerization, and financial-services firms facing the rise of fintechs are all reexamining their business models and offerings...Read more

India to use International Solar Alliance to push solar water pumpsIndia to use International Solar Alliance to push solar water pumps

NEW DELHI: India plans to use International Solar Alliance to popularise indigenously developed solar water pumps across the world, especially in emerging markets, a top official said.

"Many countries are not even aware of solar pumps," said Upendra Tripathy, secretary, ministry of new and renewable energy (MNRE), who is also the chairperson of the interim administrative cell of International Solar Alliance (ISA), a joint initiative of India and France launched during the Paris climate conference last year to bring together 121 'sunshine' countries to optimise solar power use...Read more

4 Ways to Be More Effective at Execution

Most people recognize that execution is a critical skill and strive to perform it well, but they may a) underestimate how important it is to their career advancement or b) not realize that you can improve on execution without working longer hours...Read more

TRIPS sets the floor for IP-led innovation

The US Chamber looked to the announcement of the final National Intellectual Property Rights Policy as the beginning of a new era, with a re-commitment to a strong intellectual property policy framework. The policy announced takes steps to promote Intellectual Property Rights (IPR) awareness and enhances the administration, management and enforcement of IPR. However, the absence of recommendations for specific legislative reforms is troubling and until addressed, will cost India competitiveness in the areas of high-tech and biopharmaceutical innovation and value-added manufacturing...Read more

Supporting startups, the first step to a vibrant, flourishing IndiaSupporting startups, the first step to a vibrant, flourishing India

mall businesses are the backbone of our economy, creating employment, experimenting with new and innovative business models. The same is also true about all startups – they have been instrumental in creating exciting and groundbreaking innovations in almost all verticals like technology, food and catering, ecommerce, consulting, health and wellness, etc. To give an example, most of the apps being used seem to have started out as a basic idea put into motion by eager entrepreneurs.

This phenomenon certainly goes to prove that there is no dearth of brilliant ideas and opportunity in our country. Perhaps this is what led the new government to set out an agenda for the creation of a dynamic startup ecosystem that will transform the lives of India's youth. Last year, we have seen several 'big announcements' on Start-Up India and a plethora of related schemes, concessions and benefits. There has also been a lot of talk about startup funding. The schemes have been announced and definitely exist on paper. However, the new breed of entrepreneurs and CEOs opine that there is a lot to be done in the area of permissions and compliances. The compliances related to the ‘ease of setting up the businesses’ is far from being satisfactory, and this is what the government must work on to encourage the startup culture...Read more

Kumar Mangalam Birla and family plan to invest Rs 500 crore in group’s food and grocery businessKumar Mangalam Birla and family plan to invest Rs 500 crore in group’s food and grocery business

MUMBAI: Aditya Birla Group chairman Kumar Mangalam Birla and his family plan to invest Rs 500 crore in the group's food and grocery business and increase its authorised capital to Rs 750 crore.

Aditya Birla Retail (ABRL) has passed a board resolution to issue shares on a preferential basis to either Kanishtha Finance & Investment or RKN Retail , promoted by Birla, his family and some closely-held companies of the family, the privately-held company said in a filing with the Registrar of Companies...Read more

A leader will face limitations that seem mutually exclusive A leader will face limitations that seem mutually exclusive

Great creativity happens when the leader combines two seemingly different ideas, David Dye and Karin Hurt tell Sangeeta Tanwar

In your book, Winning Well, you claim that to succeed, managers cannot choose between results and relationships. What values should a leader possess to be able to choose both?

Managers who choose to focus on both results and relationships value confidence and humility. It takes confidence to state a bold vision, call your team to a better future, and practise accountability. It takes humility to recognise that everyone on your team has strengths, to apologise when you make a mistake or hurt someone, and to invite people to challenge your thinking. These combined values create strong leaders...Read more

UDAY will cover private discoms soonUDAY will cover private discoms soon

Increasing the ambit of National Democratic Alliance (NDA) government’s flagship scheme Ujwal Discoms Assurance Yojana (UDAY), the ministry of power would soon approach the Cabinet to incorporate private power distribution companies (discoms) in it.

“The government is looking at bringing in some amendments in the UDAY scheme to accommodate those states which have privatised discoms,” said Piyush Goyal, Union minister of state for coal, power, and renewable energy.

Goyal was responding to a question on power distribution in the states where privatisation did not yield desired results. The minister cited the example of Odisha, which has approached the Centre to join UDAY. “I am going back to the Cabinet to see how we can support states like Odisha which privatised (discoms) but are going through problems,” the minister added...Read more

How Your Leadership Has to Change as Your Startup ScalesHow Your Leadership Has to Change as Your Startup Scales

When it comes to new tricks, sometimes new dogs are just as hard to teach as old ones. At least, that was what went through my mind as I sat in on a recent senior team meeting at a fast-growing, two-year-old e-commerce company. I winced when Daniel, the 32-year-old CEO, said, “Come on, guys, I need you all to focus more on execution. If we’re going to scale successfully at the pace we’ve laid out, we’ve got to execute faster and delegate more. I want you pushing hard on your teams. Get them to step up and execute! That’s why we’ve brought in Jeff here, to coach all of us on how to motivate the troops.” I smiled sheepishly. Really? I thought. That’s not what I had in mind...Read more

Tata  Sons to assess progress of group companies on innovationTata Sons to assess progress of group companies on innovation

MUMBAI: Tata Sons will soon start assessing the progress all its group companies make on innovation and has initiated training programmes for top executives of various group firms as the salt-to-software conglomerate focuses on new technologies to drive growth.

The strategy is to ensure that companies are prepared to innovate and that the process goes beyond just having the initial ideas.

"Last year, we piloted the detailed innovation and technology checklists with three companies: Tata ChemicalsBSE 0.94 % , Tata Steel Europe and Infinity Retail. This year, innovation and technology will be part of all TBEM (Tata Business Excellence Model) assessments," said Gopichand Katragadda, group chief technology officer, who is driving this initiative...Read more

Government to set up online portal for monitoring mine clearances

NEW DELHI: Centre and states will create a platform to monitor the status of clearances and approvals of auctioned mines bearing minerals such as gold, iron ore and limestone...Read more

Failure is the Mother of InnovationFailure is the Mother of Innovation

Invention has another mother: failure. It may seem counterintuitive, but repeated failures can, and often do, lead to success. Every time we try something new and fail, it provides valuable information about what went wrong and, as important, what went right. From that, we can make small changes and try again, continually learning and innovating. “If you’re trying to solve a problem there are potentially hundreds of possible pathways to take, but only a few are going to lead to the appropriate solution. And the only way to discover that is to try and fail and try again,” says Baba Shiv, a professor at Stanford Graduate School of Business whose research focuses on innovation in the workplace...Read more

How do founders decide who takes the lead?

The Young Entrepreneur Council is an invite-only organization composed of the world’s most promising young entrepreneurs. In partnership with Citi, YEC launched BusinessCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses. Read previous SmartBlogs posts by YEC...Read more

A Strategist’s Guide to Industry 4.0The Greatest Barriers to Growth, According to Executives

Industrial revolutions are momentous events. By most reckonings, there have been only three. The first was triggered in the 1700s by the commercial steam engine and the mechanical loom. The harnessing of electricity and mass production sparked the second, around the start of the 20th century. The computer set the third in motion after World War II (see “The Man Who Made the Computer Age Possible,” by Jeffrey E. Garten).

It might seem too soon to proclaim that the fourth industrial revolution, spurred by interconnected digital technology, has begun. But Henning Kagermann, the head of the German National Academy of Science and Engineering (Acatech), did exactly that in 2011, when he used the term Industrie 4.0 to describe a proposed government-sponsored industrial initiative...Read more

India to get its own car safety ratings from 2017

NEW DELHI: A beep at the speed of 80 kmph and loud alert after 100 kmph will be the latest features in cars to check speeding...Read more

The Greatest Barriers to Growth, According to ExecutivesA Strategist’s Guide to Industry 4.0

A large, iconic multinational is now struggling to keep growing while being chased by leaner, more aggressive competitors. To find the next wave of growth, they were taking a hard look at their bureaucracy.

“When I joined the company, the front line management jobs were the best,” the CEO told us. He had started his career in one of those jobs, as a country manager, and worked his way up. “It was like running a small business with only a few targets on performance and obeying the rules.” Today, he confessed, “it is the worst job.”.Read more

Seven steps to value creation

No matter how good a company or its top management is seen to be, the ultimate test of efficiency is around how much value they have been able to create for their shareholders. If a company, over a period of time, fails to generate healthy returns for shareholders, there is every possibility that the markets will vote with their feet and ensure it learns its lesson or falls by the wayside. There are enough such examples around the world and, of course, in India...Read more

A Simple Way to Test Your Company’s Strategic Alignment

There is no universal or one-size-fits-all prescription for a winning business. But corporate leaders today seem to agree that strategic alignment is high on the list.

Strategic alignment, for us, means that all elements of a business — including the market strategy and the way the company itself is organized — are arranged in such a way as to best support the fulfillment of its long-term purpose. While a company’s purpose generally doesn’t change, strategies and organizational structures do, which can make chasing “alignment” between strategy and the organization feel like chasing an elusive will-o’-the-wisp...Read more

Ford is Using Factory Emissions to Make Car Parts

Carbon emissions spewed from factories could help Ford build its next generation of cars and trucks.

The automaker is creating and testing new foam and plastic components using carbon dioxide captured during its operations to make seats and interiors, Bill Ford, the company’s executive chairman, said during Fortune Brainstorm E, a two-day summit about energy, technology, and sustainability that kicked off Monday in Carlsbad, Calif...Read more

To Grow as a Person, Selectively Forget the Past

For 35 years, I have used the Three Box Solution framework in my work with corporations. This practical approach integrates (Box 1) current business performance with (Box 2) selective forgetting of the past and (Box 3) creating the future. But it’s not only business issues that can be solved with the three box approach — some executives with whom I’ve used the framework tell me that it applies equally well to personal transformation...Read more

Reliance Defence plans to make 80-seater passenger aircraft with Ukraine's AntonovThe Secret to Keeping a Family Business Intact Across Generations

Some people are just born to be entrepreneurs—like John Pitcairn, a Scottish immigrant who landed on US shores in the 1840s at the age of five. Despite the fact that he came from a poor family, he was good at spotting business opportunities—and making the most of them. As a teenager working on the Pennsylvania Railroad, Pitcairn envisioned how land prices would rise due to the railroad. At 17, he took his life’s savings and bought a farm in the countryside—and ended up tripling his money in six months.

The rest, as they say, is history. He got into oil and gas, and eventually into glass. In 1883, he co-founded the Pittsburgh Plate Glass company (PPG Industries today). Within 10 years of its founding, Pittsburgh Plate Glass represented 65% of all the glass manufactured in the US. He diversified the business of PPG Industries and the family made substantial capital in generation one...Read more

Reliance Defence plans to make 80-seater passenger aircraft with Ukraine's AntonovMinistry of New and Renewable Energy issues fresh draft norms for onshore wind power projects

The Ministry of New and Renewable Energy (MNRE) has issued fresh draft guidelines for onshore wind power projects, specifying how sites for wind farms should be chosen, the standards wind turbines should conform to and how they should be installed, the average annual plant load factor they need to achieve, and more.

The last such guidelines were issued in June 1996, when wind power in India was in its infancy. Since then the country has installed 26,736 MW of wind power, the fourth highest in the world after China, the US and Germany. It has set itself a target of 60,000 MW of wind power by 2022...Read more

How Shared Leadership Changes Our Relationships at Work

Consider the challenges of the 21st century enterprise: things change too fast for one individual to know how to best respond; there are many explanations for any event, and multiple perspectives are needed to understand what that event means and decide what to do; a pipeline of future leaders is essential to companies’ long term success. No wonder organizations today are drawn to the benefit of leadership that is shared, rather than concentrated in a single, charismatic individual. Regardless of the exact organizational structure or what it’s called, the times seem to call for leaders who can be first among equals...Read more

Intellectual Property Right (IPR) policy

The Cabinet today gave its nod to the national Intellectual Property Right (IPR) policy, saying it endeavours to ring in a “Creative India; Innovative India”...Read more

Reliance Defence plans to make 80-seater passenger aircraft with Ukraine's AntonovReliance Defence plans to make 80-seater passenger aircraft with Ukraine's Antonov

Reliance Defence, part of the Anil Ambani-led Anil Dhirubhai Ambani Group (ADAG), is looking to manufacture 50-80 seater passenger aircraft in India soon with the help of its Ukraine joint venture partner Antonov.

This makes Reliance the first Indian company to do so in the last 25 years after Hindustan Aeronautics (HAL), which discontinued production. The move by Reliance Defence to make passenger aircraft in India also comes in the backdrop of HAL proposing to form a joint venture in India with an original equipment manufacturer (OEM) to produce and supply 50-80 seater aircraft...Read more

Productivity Hacks from the Road

Frequent travel has taught me a great deal about personal productivity. (I spend up to a third of my time on the road.) Like President Obama, I choose my suits from a color palette that ranges from blue to gray. All of my dress shirts are blue. Everything goes with everything else, which enables me to pack for a business trip to anywhere in less than 20 minutes. Beyond teaching me to take an efficient approach to fashion, my constant travel has given me several insights into organizational productivity. And looking at what hotels do well — and sometimes do not do well — has been a particular source of inspiration. Because they work in a highly competitive environment with a diverse workforce and fickle clientele, hoteliers have given us several lessons that are applicable across many industries. Here are three cases in point:..Read more

The Hyperloop Is One Step Closer to Reality

Nearly three years ago, technology billionaire Elon Musk proposed a radical idea: Why not create a transportation system that involved putting people-filled pods in low-pressure tubes, then zipping those pods along with fans or magnets at speeds topping 700 miles per hour?..Read more

Draft software policy on cardsDraft software policy on cards

NEW DELHI: The government is going to release the draft of the policy on software products for public consultation soon. The policy, which is aimed at addressing the long-standing issues faced by the software products ecosystem that has always been in the shadows of the software services industry, is currently in the process of being drafted, said a government official.

The long-standing move is also likely to be announced by Union IT and Communications minister Ravi Shankar Prasad during the two-year celebrations of the Narendra Modi government slated later this week...Read more

In Product Development, Let Your Customers Define Perfection

In an era of high-stakes innovation, there is no clearer illustration of how to develop new products the right way (and the wrong way) than a tale of two car companies.

The first company is Porsche, which in the early 2000s launched the Cayenne sports utility vehicle — a vehicle very different from the high-performance sports cars for which it was famous. The second company is Fiat Chrysler, which introduced the Dodge Dart compact in 2012 with great fanfare, and even greater expectations. The company’s CEO, Sergio Marchionne, said at the time that “of all the cars I can get wrong, it ain’t this one"...Read more

What I Learned about Leadership in the Bush

Leadership insights come at the oddest times. I recently spent three days in South Africa’s Little Karoo on safari. Although the animal reserve I visited, Sanbona, is smaller than many on the continent, it is still roughly two-thirds the size of New York City. The landscape was rugged and vast — rocky and dry, more like the American Southwest than a verdant savannah. Once we bounced away from the lodge in our open-air 4x4 vehicle, the trappings of civilization were gone. We were alone in wide-open spaces, a small group of five to seven people. Connectivity was nonexistent. There were moments of complete silence. Our only supplies were what we carried with us...Read more

Prosperity, not a promise equality

The two decades of fastest economic growth in Asia, mostly led by China and India, have also been the period of maximum increase in economic inequality. What's heartening though is that some Asian countries that became more equal...Read more

A billion dollars worth of innovations aids Tata Group's earnings

The Tata Group has realised financial benefits to the tune of a billion dollars, both in terms of additional revenues as well as cost savings, by implementing innovative solutions that have originated in-house, according to Tata Sons’s brand custodian and member of the group executive council, Mukund Rajan...Read more

Being a Parent MadeBeing a Parent Made Me a Better Manager, and Vice Versa

Over the last 10 or 15 years those of us who work for organizations have gotten more and more comfortable talking about work-life balance as a business issue; about making the workplace more human, authentic, and compassionate; and about discussing work as something that deserves passion, meaning, even love.

And yet when we go home at the end of the day, how much of what we learn at work about prioritizing, communicating, and managing conflict gets left at the office? And even more important, when we go back into work the following morning, how much of what we’ve learned from our families about patience, empathy, and so on gets left behind?...Read more

The Silicon Valley WayIndia has emerged as biggest renewable energy lab in world

NEW DELHI: US ambassador to India Richard Verma, today said India has emerged as the biggest renewable energy lab in the world and is at the threshold of dynamic growth in the deployment of smart grid technology.

Verma, accompanied by other dignitaries, visited Tata Power Delhi Distribution's Smart Grid Lab in Rohini and Tata Power-DDL's grid connected 225 KW Solar Power Plant in the vicinity.

"Today, India has emerged as the biggest renewable energy lab in the world and is at the threshold of dynamic growth in the deployment of smart grid technology and integration of renewable energy projects...Read more

The Silicon Valley WayThe Silicon Valley Way – “No Such Thing As Failure, Only Feedback”

I spent 15 years building Nimbus, a process mapping company, to a reasonable size in the UK and had a very successful exit. I now live in San Francisco where I have become an avid student of “the Silicon Valley way”. Four years after the exit, I’ve got the founders back together and we have launched a cloud process mapping app with a highly disruptive freemium pricing model targeting the Fortune 5M, not just the Fortune 500.

That last sentence encapsulates much of what makes it so different here. So what have I found are the big differences between the UK and Silicon Valley?...Read more

Strategy for CriticalStrategy for Critical Business Situations

Did you ever feel like you were in a truly dark business situation? So far deep into the woods that you wondered, “How did I get here?” That you asked yourself, “How do I get out of this mess?” I’ll certainly share my dark business situations with you, but I would rather illustrate this point with a dark personal situation that’s perhaps a more applicable parallel.

While planning for this post, I found myself in the woods on my property, in the thickest wooded brush I’d ever seen. It was 90+ degrees outside and I was suffering from heat exhaustion. Six yellow jackets decided to evict me by stinging me multiple times on my hands and face (three stings to my index finger knuckle alone, by the way). I was panting, and I couldn’t stop sweating....Read more

NMDC invests Rs 1,400 crore in two breakthrough innovations in mining technology

KOLKATA: NMDC, one of India's largest miners, has introduced two breakthrough innovations in mining technology at its iron ore complex with an investment of Rs 1,400 crore...Read more

How design thinking improves the creative processHow 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.

We recently talked to Stefanos Zenios, a professor of operations, information, and technology at Stanford GSB, on how to get customer feedback, create effective prototypes, and facilitate more productive brainstorming sessions through design thinking. The interview that follows has been condensed and edited for clarity...Read more

World's first holographic flexible smartphone developedWorld's first holographic flexible smartphone developed

TORONTO: Scientists claim to have developed the world's first holographic flexible smartphone that lets users interact with 3D videos and images without any headgear or glasses.

The device, dubbed HoloFlex, is capable of rendering 3D images with motion parallax and stereoscopy to multiple simultaneous users without head tracking or glasses.

"HoloFlex offers a completely new way of interacting with your smartphone. It allows for glasses-free interactions with 3D video...Read more

ICICI Bank signs MoU with BRICS Grouping-promoted New Development Bank

MUMBAI: Private sector lender ICICI BankBSE 0.63 % today became the first financial institution in the country to tie up with the BRICS Grouping-promoted New Development Bank (NDB) for a partnership in bond issuances, co-financing, treasury management and human resources...Read more

Maha govt, SIDBI form Rs 200 cr VC to provide credit to MSMEs

A San Francisco-based startup has raised $17 million to "rehumanise the interaction" between doctors and patients by using the Google Glass eye-wearable device.

While Maharashtra state has contributed Rs 75 crore for the VC, LIC and Sidbi has contributed Rs 20 crore each for the fund and the balance has been raised from the market...Read more

Google Glass to 'rehumanise' doctor-patient relationship

A San Francisco-based startup has raised $17 million to "rehumanise the interaction" between doctors and patients by using the Google Glass eye-wearable device...Read more

Going Global With Entrepreneur Ecosystems

Startups: Those are the things that only happen in Silicon Valley, New York and Boston, right?

Maybe once, a very long time ago. Today, entrepreneurialism is a global phenomenon, and as a result, there is hardly a developed part of the world that lacks some sort of startup scene to speak of. Some locales are much further along than others, though, and some are stronger in some characteristics and weaker in others. Do an easy Google search and find numerous startup ecosystem rankings from think tanks and media outlets, based on this or that formula (see to the right for two examples)...Read more

“Yes” vs. “Yes, If…”: Using Your Distinctive Contribution to Manage Priorities

Recently, I wrote that the most overlooked factor in effective leadership is capacity: the time, attention, and energy that you, as an individual leader, can give. You cannot manage people, projects, or priorities without it...Read more

Apply Kaizen to Yourself: The Secret to Developing Self ConfidenceApply Kaizen to Yourself: The Secret to Developing Self Confidence

Peter Drucker believed that no manager can operate effectively without taking risks. The fact is that taking risks demands self-confidence. Drucker wrote: “Living in fear of loss of job and income is incompatible with taking responsibility for job and work group, for output and performance.” That’s all well and good, but how can you not fear job loss, especially in times when the loss of a job is a real possibility, regardless of tenure or prior highly successful performance?

The Answer is Usually Self-Confidence
I challenge you to find any “up and comer,” “fast burner” or whatever you want to call managers who seem to zoom right up the corporate ladder and right past their contemporaries, who don’t possess a healthy dose of self- confidence as well. Self-confidence is always a necessity for significant success. Unfortunately, the fact that it is a necessity doesn’t in itself tell us how to acquire this important trait...Read more

Mindfulness Can Improve Strategy, Too

Over the course of a couple of decades, meditation has migrated from Himalayan hilltops and Japanese Zendos to corporate boardrooms and corridors of power, including Google, Apple, Aetna, the Pentagon, and the U.S. House of Representatives...Read more

Government to notify mines transfer rules in 15 days

NEW DELHI: The mines ministry will notify charges for transfer of non-coal mines in 10-15 days, Mines Secretary Balvinder Kumar told ET...Read more

What Makes Alibaba and Facebook Innovative is Leadership What Makes Alibaba and Facebook Innovative is Leadership

I’ve represented the Wharton School at three big international events so far in 2016 — the World Government Summit in Dubai, the Wharton Global Forum in Kuala Lumpur, and now the China Development Forum in Beijing. “Innovation and Entrepreneurship” has been at the top of every agenda because countries world over are desperately seeking productivity-enhancing innovation, and because startups seem better at generating it than big established organizations. Nowhere was this more clear than in Beijing last week. Amid a star-studded program of political, business, and academic leaders from China and around the world, there were two rockstars — Alibaba founder Jack Ma and Facebook founder Mark Zuckerberg...Read more

The robots will take our jobs. Then what?

The writing is on the wall: the robots will take our jobs. Martin Ford, author of Rise of the Robots, explains the implications for human beings and the market-driven capitalist system...Read more

How One Social Enterprise is Scaling Faster Than The Rest

One of the hardest challenges social enterprises face is how to scale up, and quickly. Without the same access to capital as their for-profit brethren, social enterprises need to find other mechanisms to grow...Read more

To Innovate, You Have to Manage the Past, Present, and Future

Vijay Govindarajan, professor at the Tuck School of Business at Dartmouth College, explains how to create a new business while optimizing an already existing one. For more, read The Three-Box Solution:...Read more

Amul eyes Rs 50,000-crore turnover by 2020Amul eyes Rs 50,000-crore turnover by 2020

Dairy major GCMMF, which sells products under the Amul brand, is looking to more than double its turnover to Rs 50,000 crore in the next four years on account of rising demand for milk and value-added items, a top company official said.

The turnover of Gujarat Cooperative Milk Marketing Federation (GCMMF) rose 11 per cent to Rs 23,005 crore during 2015-16 fiscal.

"After taking into consideration the continuous rise in demand for Amul products, we are anticipating at least 20 per cent growth in our turnover for next 4 years,"...Read more