Innovate in India, IPR is the keyInnovate in India, IPR is the key

A neo-natal resuscitator that saves newborn children’s lives. An organic bio-stimulant that increases crop yields while simultaneously reducing fertiliser requirements. A device that provides a dignified solution for bowel function to bed-ridden patients. What do they all have in common? All are Indo-American innovations that are making a difference in people’s lives.

As we celebrate the 17th World Intellectual Property (IP) Day on Tuesday, this year’s theme, ‘Innovation: Improving Lives’

could not be more appropriate. With its robust economic growth, youthful population, and growing influence around the world, modern India is at a consequential moment in history. There is a growing sense that across this large, diverse country, India’s innovative spirit is awakening...Read more

RBI issues new draft rules for M&AsRBI issues new draft rules for M&As

The Reserve Bank today proposed a fresh set of regulations regarding mergers and acquisitions which seek reporting of such actions to be more stringent and time-bound, and provide for mandatory permission for all deals which are not on the automatic route.

This follows the new regulations notified by Corporate Affairs Ministry under the Companies (Compromises, Arrangements and Amalgamation) Amendment Rules of 2017 issued on April 13.

The proposed regulations will be brought in under the FEMA rules of 1999 and seek to address the issues that may arise when a domestic firm and a foreign firm enter into scheme of merger, demerger/amalgamation/rearrangement...Read more

How to Be an Inspiring LeaderHow to Be an Inspiring Leader

When employees aren’t just engaged, but inspired, that’s when organizations see real breakthroughs. Inspired employees are themselves far more productive and, in turn, inspire those around them to strive for greater heights.

Our research shows that while anyone can become an inspiring leader (they’re made, not born), in most companies, there are far too few of them. In employer surveys that we conducted with the Economist Intelligence Unit, we found that less than half of respondents said they agree or strongly agree that their leaders were inspiring or were unlocking motivation in employees...Read more

Uber expects flying taxis to take off in 2020 Uber expects flying taxis to take off in 2020

Flying taxis may become a reality in the next four years. US ride-hailing service Uber Technologies Inc expects to deploy flying taxi services in Dallas-Fort Worth, Texas, and Dubai in 2020, Chief Product Officer Jeff Holden said at the Uber Elevate Summit in Dallas.

Uber's flying taxis will be small, electric aircraft that takeoff and land vertically, or VTOL aircraft, enabling zero operational emissions and quiet enough to operate in cities without disturbing the neighbors

The company is working with Hillwood Properties to make four vertiports - VTOL hubs with multiple takeoff and landing pads, and charging infrastructure - for Uber in Dallas starting next year, Holden said...Read more

What will a successful digital company of 2020 look like?What will a successful digital company of 2020 look like?

Companies get built independent of what’s going on in the markets. The guiding light of the intrepid entrepreneur is his need to find a niche and fill it profitably. As he finds his niche, the markets will, to an extent, shape his strategy for profitability.

Back in 2008-09, when the markets were bearish, entrepreneurs were looking at unit economics. Costs of production needed to be brought down in order to increase profitability. This changed as the markets turned bullish. By 2013-14, the onus was put on growth at any cost...Read more

The 4 Types of Organizational Politics The 4 Types of Organizational Politics

The first 100 days are usually the honeymoon period for any new CEO to make their mark and get others on board. However, for Airbus CEO Christian Streiff, it was just a brief window before his abrupt departure from the European aircraft company that’s part of the EADS consortium, along with DiamlerChrysler and Aerospatiale-Matra

Streiff’s drive to speed up decision-making, overcome bureaucracy, and deliver rapid execution, exposed historic and deep divisions between executives at the consortium. There were reports of internecine feuding at Airbus: The internal atmosphere was tense; jobs were allocated by preferences other than commercial criteria; and mistakes such as insufficient cabling were a result of internal conflicts and mistrust...Read more

Why Productivity In Retail Stores Matters Why Productivity In Retail Stores Matters

We are on the edge of a precipice. Retail stores are closing at an unprecedented pace. This year 4,950 closings have already been announced and more may come. As sales are siphoned out of retail stores onto the internet, stores are becoming less and less productive. Sales per square foot, the most telling productivity metric for retail stores, have been dropping. Despite falling sales, retail store expenses keep rising and crush profits. These diverging lines, falling sales and rising expenses, have brought the retail industry to a tipping point where stores must close

Retailers usually plan an increase in sales on a full year basis since they can count on increases in their operating costs. Merchandise costs, employee wages and benefits, business insurance premiums, utilities, and rent -- typically go only one way – up. When sales go down, negative operating leverage quickly unfolds and profits plunge...Read more

The electric car revolution now faces its biggest test The electric car revolution now faces its biggest test

If you took a spin down to the New York International Auto Show last week and saw the $37,500 Chevy Bolt (electric) parked next to the strikingly similar $17,000 Chevy Cruze (gasoline), the answer is probably a hard no. The Bolt is arguably a better car than the Cruze—but not $20,000 better.

Edmunds, the car-research company, recently weighed in with a hard no of its own, warning that the elimination of a $7,500 U.S. tax credit is “likely to kill [the] U.S. EV market.” Edmunds pinned its argument on what happened in Georgia, a state that became an unlikely leader in electric cars thanks to an extra $5,000 incentive. At one point, almost four percent of new cars being sold in Georgia were electric. Then they pulled away the punch bowl...Read more

 

Niti Aayog projects growth at an average of 8% in 15 years Niti Aayog projects growth at an average of 8% in 15 years

India on Sunday drew a long-term vision plan that envisages faster reforms to help the economy grow at an annual average rate of 8% in the next 15-16 years.

Presenting the draft 15-year vision document at a meeting chaired by Prime Minister Narendra Modi, Niti Aayog vice-chairman Arvind Panagariya said the Centre and states discussed various reforms that are required in coming years including the implementation of Goods and Services Tax from July.

“The future looks extremely bright...There is a very good case that we should over the next 15-16 years grow at 8%,” he said...Read more

Govt extends SIPP scheme for 3 years till March 2020Govt extends SIPP scheme for 3 years till March 2020

NEW DELHI: The government has extended the startups intellectual property protection (SIPP) scheme for a period of 3 years till March 2020 to help budding entrepreneurs protect their patents, trademark and designs.

Running on a pilot basis initially, the scheme was in force till March 31 this year. It is now being "extended further for a period of three years", the Department of Industrial Policy and Promotion said.

It is crucial for startups to protect their intellectual property rights (IPRs) in this highly competitive world, it added.

The decision to extend the scheme will encourage startups to encash on innovation and for that protection of IPRs is crucial...Read more

Govt extends SIPP scheme for 3 years till March 2020Products 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?

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

“THE PITCH OR SPEC DILEMMA TOUCHES ANY INDEPENDENT INVENTOR LOOKING TO SELL A NEW PRODUCT, TECHNOLOGY, OR CONCEPT”..Read more

Entrepreneurship in India - Then and nowEntrepreneurship in India - Then and now

Start ups cannot operate in a vacuum, they need a supporting eco-system to nurture them. Entrepreneurs have been setting up businesses in India since kingdom come. It is no secret that these entrepreneurs have originated from a dominant caste. How did this community sustain entrepreneurship over the ages? By developing a sustainable eco-system that matched the needs of the traditional businesses

The core of this eco-system is the incubation facility within the business that enabled the next generation entrepreneur to dabble in incremental innovation, funded by angel funding drawn from the surplus generated by the cash cow of the business. Prototypes were developed and test marketed through access to vendors and distributors and the sales force. Timely customer feedback on the prototype led to building the minimum viable product and the soft market launch. Business mentoring from the experienced elders substituted for any classroom learning...Read more

The Value of Social Risk AnalysisThe Value of Social Risk Analysis

Today’s investment challenges are compounded by a period of unparalleled political and social instability. U.S. and European markets, which host a large portion of investments, are not exposed to “unforeseen” risks. Brexit, the U.S. presidential election, and mass refugee migrations exemplify these challenges. Investors do not have tools to predict or understand the implications of these risks. They rely on geopolitical and financial experts, who consistently fail to predict political and social events and feed speculative information to financial markets. This leaves financial analysts without accurate insights on how political and social events will impact markets...Read more

Creating Simple Rules for Complex DecisionsCreating Simple Rules for Complex Decisions

Machines can now beat humans at complex tasks that seem tailored to the strengths of the human mind, including poker, the game of Go, and visual recognition. Yet for many high-stakes decisions that are natural candidates for automated reasoning, like doctors diagnosing patients and judges setting bail, experts often favor experience and intuition over data and statistics. This reluctance to adopt formal statistical methods makes sense: Machine learning systems are difficult to design, apply, and understand. But eschewing advances in artificial intelligence can be costly...Read more

India's digital payments infra to grow three-fold in 2017

NEW DELHI: The infrastructure of digital payments in India is expected to increase three-fold by the end of 2017 with almost five million electronic point of sale (PoS) machines, the Ministry of Electronics and IT (MeitY) said on Wednesday.

"We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year," MeitY Secretary Aruna Sundararajan said here...Read more

Shanghai Auto Show: Focus on electrics, SUVs in world’s largest auto market Shanghai Auto Show: Focus on electrics, SUVs in world’s largest auto market

Global automakers unveiled new SUVs, electric vehicles, and futuristic concept cars at the Shanghai Auto Show on Wednesday, racing for an edge in the world’s biggest auto market as growth slows after years of frenzied sales.

China’s automotive market remains the most important in the world for manufacturers, with sales jumping 14.9% to 24.38 million passenger cars last year, well beyond the 17.55 million bought by US drivers...Read more

What Sets Successful CEOs Apart

The chief executive role is a tough one to fill. From 2000 to 2013, about a quarter of the CEO departures in the Fortune 500 were involuntary, according to the Conference Board. The fallout from these dismissals can be staggering: Forced turnover at the top costs shareholders an estimated $112 billion in lost market value annually, a 2014 PwC study of the world’s 2,500 largest companies showed. Those figures are discouraging for directors who have the hard task of anointing CEOs—and daunting to any leader aspiring to the C-suite. Clearly, many otherwise capable leaders and boards are getting something wrong. The question is, what?...Read more

India eases rules to allow merger of Indian companies with foreign firms India eases rules to allow merger of Indian companies with foreign firms

NEW DELHI: India will allow local companies to merge with overseas firms, easing rules to help home-grown businesses restructure their expanding global operations, and pave the deck for more listings of securities on capital markets abroad.

"Until now, only inbound mergers were permitted. With outbound mergers now permissible, there would be a lot of opportunities for Indian companies to acquire, restructure, or list on offshore exchanges as well," said Mehul Shah, a partner at Khaitan and Co...Read more

Today's Must-Reads For EntrepreneursToday's Must-Reads For Entrepreneurs

Retail stores are closing at a faster rate than they did during the Great Recession: "Between 2010 and 2014, e-commerce grew by an average of $30 billion annually. Over the past three years, average annual growth has increased to $40 billion. 'That is the tipping point, right there,' said Barbara Denham, a senior economist at Reis, a real estate data and analytics firm. 'It’s like the Doppler effect. The change is coming at you so fast, it feels like it is accelerating.' This transformation is hollowing out suburban shopping malls, bankrupting longtime brands and leading to staggering job losses."

In central New Jersey, you can view the past, present and future of retailing: "When the Burlington Center Mall opened in Burlington Township in 1982, it meant shoppers did not have to travel to downtown Trenton or even Philadelphia for the latest fashions, children’s high chairs or gas-powered lawn mowers...Read more

After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders

NEW DELHI: The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National BankBSE -1.73 % (PNB) and Bank of BarodaBSE 0.03 % taking over smaller lenders, said a senior finance ministry official...Read more

Do Most Companies Even Try to Innovate Anymore? Do Most Companies Even Try to Innovate Anymore?

We are living in the age of the superstar firm. Companies like Samsung, Google, or BMW—the top players in their respective industries—are prospering. Yet economic growth remains sluggish in many parts of the world. The reason for that paradox, as the OECD has warned, is that the productivity gap between firms at the global frontier and those lagging behind has widened. Frontier firms are able to employ the most advanced technologies, which in turn allow them to win market share at the expense of their less productive competitors. And the globalized markets that frontier firms operate in disproportionately reward their knowledge advantage, setting them even further apart from the rest...Read more

Note ban will have positive impact in long term: World BankNote ban will have positive impact in long term: World Bank

Temporary setbacks notwithstanding, note ban will have a positive development impact in the long term as it accelerates financial deepening, foster financial inclusion and increase transparency, the World Bank has said.

In a report titled ‘South Asia Economic Focus - Globalisation Backlash’, it said eliminating tax evasion and corruption -- the most talked objectives of junking old 500 and 1000 rupee notes -- is “typically a demanding process involving multiple measures overtime.”...Read more

Electric revolution: Widespread adoption of electric vehicles can kill many birds with one stone

It’s been reported that the central government is exploring a plan to lease only electric vehicles for use by ministries, government agencies and state owned firms. This would be an excellent idea if implemented. Wider adoption of electric vehicles – for which the Centre’s purported move can be a catalyst – would kill several birds with one stone.

It would serve to make the polluted air of Indian cities more breathable. It could give India a head start in technology and accelerate Make in India efforts in what is going to be a sunrise industry...Read more

World Bank’s ease of doing business index will cover 8 new Indian citiesWorld Bank’s ease of doing business index will cover 8 new Indian cities

The World Bank has agreed to widen the scope of the ease of doing business rankings for India by expanding it to eight more cities.

Disclosing this, Nirmala Sitharaman, minister of state (independent charge) for commerce and industry, said the move would improve the quality of the index as the survey will cover 10 cities. At present it is restricted to two cities— New Delhi and Mumbai.

India has been very keen to improve its position in the ease of doing business rankings conducted by the World Bank. At present, India is ranked 130 and is seeking to improve this to 90...Read more

A 22-Year-Old CEO Has A Vision For Making Self-Driving Cars A RealityA 22-Year-Old CEO Has A Vision For Making Self-Driving Cars A Reality

As a teenager, Austin Russell started thinking about creating better 3D imaging technology while spending his last couple years of high school at the Beckman Laser Institute at the University of California, Irvine, designing augmented reality and wireless power transmission projects.

Now at just 22, that early obsession has resulted in an advanced laser LiDAR sensor that he says paves the way for self-driving cars to "actually work and be safe." Russell is CEO of Luminar Technologies Inc., a startup with operations split between Silicon Valley's Portola Valley and Orlando, Florida, that’s been in stealth mode since he founded it five years ago...Read more

Searching for New Ideas in the Curious Things Your Customers DoSearching for New Ideas in the Curious Things Your Customers Do

Twenty five years ago Steve Hughes, now the CEO of Sunrise Strategic Partners, was walking through an orange juice plant when he had an epiphany that turned into a $500 million business.

Hughes had just become executive vice-president of Tropicana, and he was touring facilities to try to learn about the business. He was in a plant and noticed some of the workers on a break...Read more

Self-doubts of a startup entrepreneur

Most of us, who have started entrepreneurial ventures, have gone through several self-doubts on whether we took the right decision to pursue our dream venture and start-off on one’s own. We have also faced self-doubts when we have taken decisions through our journey of building our companies.

So if you have self-doubts and questions about why you took the plunge as a startup entrepreneur, relax. You are not alone. Self-doubt is a very normal human response whenever we are faced with challenges that initially seem insurmountable...Read more

PM Modi launches Aadhaar-linked BHIM App on Ambedkar’s birth anniversaryPM Modi launches Aadhaar-linked BHIM App on Ambedkar’s birth anniversary

Prime Minister Narendra Modi on Friday launched an Aadhaar-based money transfer mobile platform for traders along with two incentive schemes, in a push to make the economy “less-cash” and curb black money generation.

Addressing a gathering at local sport complex in Nagpur on the 126th birth anniversary of Babasaheb Ambedkar, PM Modi said that the country is reaching a time when the mobiles phones will be where financial transactions will take place...Read more

Strategy in the Age of Superabundant CapitalStrategy in the Age of Superabundant Capital

For most of the past 50 years, business leaders viewed financial capital as their most precious resource. They worked hard to ensure that every penny went to funding only the most promising projects. A generation of executives was taught to apply hurdle rates that reflected the high capital costs prevalent for most of the 1980s and 1990s. And companies like General Electric and Berkshire Hathaway were lauded for the discipline with which they invested.

Today financial capital is no longer a scarce resource—it is abundant and cheap. Bain’s Macro Trends Group estimates that global financial capital has more than tripled over...Read more

How India is emerging as hub for making urban rail systemsHow India is emerging as hub for making urban rail systems

Drawn to India by an explosion in metro-rail projects, Alstom SA and Bombardier Inc are now poised to use the nation known for being the world’s back-office as a manufacturing export hub.

The French and Canadian multinationals set up manufacturing and engineering operations between 2008 and 2010 to tap into India’s rapidly-growing urban transportation market and will now export to Australia, the Middle East and Asia from these facilities, company officials said.

PricewaterhouseCoopers estimates total investments in subway projects will reach $230 billion in Asia over the next 15 years...Read more

Have you ever chatted with a robot? You may have done so in the financial worldHave you ever chatted with a robot? You may have done so in the financial world

Banking, insurance and broking industries have started rolling out chatbots for consumer services and transactions. However, not all chat windows have a chatbot behind them. Most are manned by humans, most likely working in a call centre. But if your were to be answered by a chatbot, it would have been without any human intervention.

What are chatbots?

Chatbots are software applications that function as chat interfaces. And their interaction with you is powered by artificial intelligence...Read more

Railways supply chain goes digitalRailways supply chain goes digital

NEW DELHI: Railway Minister Suresh Prabhu today launched the digital contract, a system of digitisation of railways' supply chain across all zones, to ensure greater transparency and ease of doing business.

The system digitises processes like bill submission, inspection, dispatches, receipt, bill passing, payments and warranty monitoring and enables use of analytics for increasing supply chain efficiencies in real time

"The digital era is round the corner. All organisations that are not digitally compliant will become obsolete over a period...Read more

 

In a first, passenger vehicles sales in India cross 3 million mark in FY2016-17 In a first, passenger vehicles sales in India cross 3 million mark in FY2016-17

Passenger vehicle sales in India crossed the three million milestone for the first time in 2016-17.

For the fiscal ended March 2017, domestic passenger vehicles (PV) sales were at 30,46,727 units as against 27,89,208 in the previous year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

On the sales performance, SIAM deputy director Sugato Sen said the year witnessed the highest sales of passenger vehicles, utility vehicles, motorcycles and scooters...Read more

 

You Can Design Your Business To Prosper, Rather Than Suffer, From The Robot RevolutionYou Can Design Your Business To Prosper, Rather Than Suffer, From The Robot Revolution

Despite what we hear from certain prominent politicians, most serious commentators tell us that robots, much more than imports, are the main root cause of disappearing jobs. [I use the term robot broadly to include software based on artificial intelligence (AI) and machine learning.] If your job can be performed by every-more-capable robots, you are at risk. And, if your business is based on jobs that robots can take, you are at risk too. Your margins will be squeezed and you will be forced to push out a lot of employees, or lose to robot-enabled competitors. It's time to evolve your business model to one that makes robots a force multiplier...Read more

Five constructive ways to transform your business through digita Five constructive ways to transform your business through digital

By 2019, worldwide spending on digital transformation initiatives will reach $2.2 trillion, an almost 60 percent increase over 2016, according to market intelligence firm IDC. This will be a billion-dollar bet for your organisation or company in the making. The next billion-dollar companies will surely be the ones driving digital as the mainstream business to head-start their value proposition in the market. These five constructive steps could help grow your business in the digital age...Read more

The Different Approaches Firms Use to Set StrategyThe Different Approaches Firms Use to Set Strategy

What is your strategy? Most senior executives can confidently answer this question. How has that strategy changed over time? This one usually gets a quick answer too. How do you make decisions about changing that strategy? Now it gets much more difficult. The fact is, many senior executives struggle to describe how they make strategic decisions. That’s a serious problem, since the process for making...Read more

India rises two spots to become the 4th largest aviation market India rises two spots to become the 4th largest aviation market

NEW DELHI: India's record breaking aviation growth continues unabated. The International Air Transport Association (IATA) on Monday said the country saw the fourth highest number of passengers taking off in 2016, up two places from the previous year overtaking UK and Brazil.

India had 13.1 crore passengers taking off -- including domestic, international and connecting -- last year. Globally, IATA says, 380 crore passengers took off last year (half domestic, 35 per cent international and 15 per cent connecting), up from 350 crore in 2015. The top three markets - US, China and Japan remained unchanged but there was a shakeup below with India a part of this upheaval...Read more

Signs You’re Losing Control of Your Family BusinessSigns You’re Losing Control of Your Family Business

When the non-family chairman/CEO unexpectedly told family business owners that they had to live without dividends or sell the business, Tommy leaned over and whispered in his cousin’s ear: “Do you get what’s going on? The numbers have always been terrific.”

Despite their shock, Tommy and other family owners shared responsibility for this painful situation. For years, they’d been detached and unengaged owners. No family member worked in the company, and those who sat on the board rubber-stamped management’s decisions. The owners sat passively until faced with the reality that they were at risk of losing the business that had been in the family for three generations...Read more

30% of Indian organisations ready to adopt change management practices in India30% of Indian organisations ready to adopt change management practices in India

Nearly 30% of companies in India are ready to adopt change management practices, according to a survey by change management solutions firm Prosci.

Prosci, which has partnered with Marg as its India affiliate, unveiled its Survey Report 2016-17, which highlights India’s readiness for change management. More than 8,000 MNCs in the country were sent the survey.

The report focuses on how change management practices would lead to the success of the organisation and accelerate business growth. Nearly 30% companies in India were ready to adopt Prosci’s change management methodology offered through Marg immediately, and 25% evinced interest to adopt it in the coming months...Read more

The Error at the Heart of Corporate Leadership

In the fall of 2014, the hedge fund activist and Allergan shareholder Bill Ackman became increasingly frustrated with Allergan’s board of directors. In a letter to the board, he took the directors to task for their failure to do (in his words) “what you are paid $400,000 per year to do on behalf of the Company’s owners.” The board’s alleged failure: refusing to negotiate with Valeant Pharmaceuticals about its unsolicited bid to take over Allergan— a bid that Ackman himself had helped engineer in a novel alliance between a hedge fund and a would-be acquirer. In presentations promoting the deal, Ackman praised Valeant for its shareholder-friendly capital allocation, its shareholder-aligned executive compensation, and its avoidance of risky early-stage research. Using the same approach at Allergan, he told analysts, would create significant value for its shareholders. He cited Valeant’s plan to cut Allergan’s research budget by 90% as “really the opportunity.” Valeant CEO Mike Pearson assured analysts that “all we care about is shareholder value.”...Read more

Other than renovation and innovation, how shopping malls can have a longer shelf life Other than renovation and innovation, how shopping malls can have a longer shelf life

The mall business in India, stagnant for almost a decade, may now be seeing light at the end of the tunnel. Older malls are trying various strategies to stay afloat and attract new and fast-selling stores to take on snazzier, newer malls that have come up in their vicinity.

From roping in retailers such as Decathlon to re-configuring brands and squeezing existing shops to make way for new tenants, malls are forging deals to survive and some have even repositioned themselves to turn profitable...Read more

When A Business Mistake Pays Dividends For EntrepreneursWhen A Business Mistake Pays Dividends For Entrepreneurs

My friend and I once invested in a product through Kickstarter. One day, while we were in the same room, our phones simultaneously bleeped with an email apology from the founder expressing regret for unwittingly offending people by his email from the day prior. My friend and I had the same reaction: “I can’t wait to read that email.” I bet the open rate skyrocketed after that! Have you ever made a mistake in business, only to receive an unexpectedly positive result? Sometimes these mistakes end up being gems in disguise, and by mapping out the formula you can learn to repeat the positive results. Here are some more business mistakes that unwittingly produced a positive outcome...Read more

Algorithmic Foundations for Business Strategy

Overview— This paper uses tools and models from computational complexity theory and the algorithmics of hard problems that are new to the strategy field in order to address how strategic process and structure adapt to the complex strategic scenarios and predicaments. The paper’s model of strategic problem-solving allows researchers and strategists to distinguish between different levels and kinds of adaptations to complexity of the problem solving scenario. It also allows them to explore and optimize the fit between the canonical strategy problems a firm faces, its stock of problem solving procedures, and its architectural and procedural adaptations to complexity...Read more

India to become 2nd largest steel producer by 2018: Steel Minister

KOLKATA: India is poised to emerge as the second largest producer of steel (in the world) by 2018, steel minister Chaudhary Birender Singh has said.

Speaking at the National Conference on Secondary Steel Sector in Delhi on Wednesday the minister said the government is keen to boost the domestic steel sector.

As part of this initiative, the budget this year had outlined an investment of Rs 4 lakh crore on infrastructure that is expected to raise consumption of steel substantially...Read more

Leading With A 'Yes, And'Leading With A 'Yes, And'

The best leaders are those who continue learning and growing. Leadership and management training are now mainstream ideas, with nearly 500 million search results on Google. Frequently, we hold workshops for all levels of leaders — emerging leaders, established leaders, and leaders in transition. Improv has a lot to offer.

"Yes, and" is perhaps one of the most practical and direct applications of improv in leadership and professional skills. It's also commonly misunderstood. Many people think "yes, and" means you have to agree with everything, go along with everyone, and there's absolutely no room for conflict. Incorrect! "Yes, and" is a powerful leadership tool because it allows for affirmation and collaboration: two major traits in today's leaders. So how do we incorporate "yes, and" into our professional lives?...Read more

4 Things Your Innovation Efforts Shouldn’t Focus On4 Things Your Innovation Efforts Shouldn’t Focus On

Differentiation should be a prime motivator of any strategy; firms should always look to find an edge. But too often CEOs find themselves stuck in what I call an innovation plateau. They fall into chronic sameness, an inertia driven by a feeling that they must focus on cost, even cheapness, to remain competitive.

A main indicator of how widespread this plateau has become is the decline in corporate investment in R&D, the invisible infrastructure that supports true innovation. Investment in fundamental science...Read more

India's digital finance experiment gains traction as large players embrace UPIIndia's digital finance experiment gains traction as large players embrace UPI

India is set to see rapid acceleration in the adoption of digital finance, as the country’s biggest businesses—from the largest banks to retail store chains—embrace the government-backed Unified Payments Interface (UPI).

Last week, Reliance Retail Ltd, a part of Reliance Industries, added the option of payments via UPI at 200 of its 3,500-plus stores, allowing customers with any UPI-compatible app to scan a QR code and pay. No more fishing out credit or debit cards and swiping and so on...Read more

Strategic Choices Need to Be Made Simultaneously, Not SequentiallyStrategic Choices Need to Be Made Simultaneously, Not Sequentially

The CEO of a large Australian company called me to relay a particular strategy development problem his firm was facing, and ask for my advice. The company was an eager user of my “cascading choices” framework for strategy that I have used for decades and written about extensively, most prominently in the 2013 book I wrote, with friend and colleague A.G. Lafley, called Playing to Win...Read more

Government sets up National Board for Electric MobilityGovernment sets up National Board for Electric Mobility

NEW DELHI: More than six years after it was approved by the UPA government, the Centre has constituted NBEM to promote electric mobility and manufacturing of electric (& hybrid) vehicles and their components.

The Union Cabinet chaired by former Prime Minister Minister Manmohan Singh had on March 31, 2011 cleared the proposals for launch of the National Mission for Electric Mobility and setting up of a National Board for Electric Mobility (NBEM) and National Council for Electric Mobility.

The NBEM will examine, formulate and propose the short-term and long-term plan and contours of the mission programme on electric mobility, its objectives, quantifiable outcomes and roles & responsibilities of the various stakeholders...Read more

Unified SBI gets more muscle as merger with associates takes shapeUnified SBI gets more muscle as merger with associates takes shape

The State Bank of India (SBI) on Monday opened for trading at the stock markets as one single bank, post the merger of five associate banks and Bharatiya Mahila Bank (BMB) with itself. The associate banks which merged with SBI are State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank Of Hyderabad, State Bank of Mysore and State Bank of Travancore.

The total customer base of the bank will reach 37 crore, with a branch network of around 24,013 and 270,111 staff across the country. The merged entity, as on December 31, 2016, has deposits of above Rs 26 lakh crore and advances of Rs 18.77 lakh crore, officials said. The merged SBI entity now has over 500 million customers and 740 million accounts...Read more

This Program Helps Aspiring Social Entrepreneurs Before They Even Have An Idea”width=This Program Helps Aspiring Social Entrepreneurs Before They Even Have An Idea

There are lots of accelerators, incubators and co-working spaces for social entrepreneurs. But what about the person who wants to use a for-profit business model to do something that matters—and doesn’t quite have the right idea yet? Not much available for those pre-idea individuals.

Maria Gibbs and Dustin Mix are trying to address that gap through a new pilot. Called the Venture Founders Program, it’s part of the Engineering, Science & Technology Entrepreneurship Excellence Program (ESTEEM) at the University of Notre Dame.

Soon, they also hope to spin that out into a separate enterprise called Invanti... Read more

Tata Motors owned TAL Manufacturing gets certification to sell first Made in India robot 'Brabo' in Europe

MUMBAI: TAL Manufacturing, a wholly owned subsidiary of Tata MotorsBSE 0.62 % has received CE certification for the BRABO, first Made in India robot for the European market.

Showcased at the Make in India week last year, TAL has developed a small robot meant for industrial application in micro, small and medium enterprises, which it will now to try to sell in the highly evolved European markets.

TAL BRABO now complies with essential requirements relevant to European health, safety and environmental legislation, permitting export of the TAL BRABO Robot to customers in Europe...Read more

University of Petroleum and Energy Studies (UPES) introduces policy to encourage entrepreneurship” width= University of Petroleum and Energy Studies (UPES) introduces policy to encourage entrepreneurship

MUMBAI: University of Petroleum and Energy Studies (UPES) has introduced a new placement policy to support students who wish to pursue entrepreneurship. Under this policy UPES will provide placement support to them even after two years of graduating in case they choose to find a job.

n another initiative, UPES is opening up experience zones by end of March 2017 at three locations in Delhi/NCR to help youngsters take informed decisions when it comes to choosing the right educational courses.

UPES counsellors will be available at these centres to guide them. The University will soon open UPES experience zones in Tier 2, Tier 3 cities as well as students there have limited access to information and need the right counselling...Read more

These charts show that India is still a favoured destination for private equity capital

In 2016, the value of private equity exits—which signal investor confidence—touched $9.6 billion, up 2 percent from $9.4 billion in 2015, according to the American global management consulting firm Bain & Company’s India Private Equity Report 2017.

Total private equity deal value in India in 2016 was about $16.8 billion, the second highest in the last nine years...Read more

Cabinet approves changes in power, fertiliser policies” width=Cabinet approves changes in power, fertiliser policies

The Union cabinet on Friday approved changes in the power and fertiliser policies to attract higher investment from private players and boost supplies.

The cabinet committee on economic affairs, chaired by Prime Minister Narendra Modi, cleared amendments in the New Urea Policy (NUP) of 2015, to allow production beyond reassessed capacity.

The said amendment is expected to boost indigenous urea production in the country, an official statement said...Read more