an icmr-iipm think tank publication count eq is...

PHIL JOHNSONLEADERSHIP COACH

GORDON CURPHYPRESIDENT, C3

DAVID VEECHEXECUTIVE DIRECTOR, ILS

EQ IS WHAT MATTERS THE MOST...

YOU NEED TO BE A FOLLOWER

LEADING FOR THE FUTURE

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BEFORE THEY HATCH

COUNTYOURChickensA 4PS B&M QUARTERLY SUPPLEMENT ON BUSINESS LEADERS

AN ICMR-IIPM THINK TANK PUBLICATION

EMAMI GROUP

LINC PEN &

PLASTICSMADISON

WORLD

FAMILY BUSINESSES ARE ADOPTING

GLOBALLY PRACTICED MANAGEMENT NORMS

AND ARE STRIVING FOR SYNERGY AMONG THE FAMILY MEMBERS

ON BOARD!

ALL IN THE

FAMILY

PRITISH NANDY COM-

MUNICATIONS

A C Neilson • ABB • ABN Amro • Accenture • Acer India • ADAG • Adani Group • Adlabs Radio • Aegon Religare • Al Reyami Group • Al Shirawi Group • American Express • AMRUTANJAN

• Anand Rathi • Angel Broking • Angel Capital & Debt Market Ltd • Apollo Munich • Arcadia Broking • Audi Delhi • Avaya Global • Avery Dennison • Aviva Life Insurance • Axis Bank •

Bajaj Allianz • Bajaj Capital • Bank of NewYork Mellon • Barclays Bank • Barclays Finance- Rank Investments and Credits • Barnies Coffee • Bharti Airtel • Bharti Axa • Big FM • Birla

Global Finance • Birla Insurance Advisory Services Ltd. • Birla Power Solutions • Birla Sun Life Insurance • Bisleri • Blue Dart

• BMW India • BNP PARIBAS • Bombay Paints Ltd. • BP Ergo • Business Octane • Business standard • Café Coffee Day • Capital IQ - Standard & Poors • Career Launcher • CB Richard Ellis • • Centurian Bank of Punjab • Chambal Fertilizers • Chase Manhattan Bank • Cholamandalam DBS • Citi Bank • CITI Financial • CITIBANK Shelters • Claude Neon • Clea Public Relations • Coats India Pvt. Ltd. • Cogent

Telecom & Infrastructure Ltd. • Colgate Palmolive • Colliers International • Colwell & Salmon Communications • Copal Partners • Cosmo Films • Country Club • Creons Advertising • Cushman &

Wakefield • D.E.Shaw • Da Milano Italia • Daimler Chrysler • DALMIA CEMENTS • Dawnay Day AV • DCM Sriram • DELL • Deloitte Consulting • Deloitte KM • Deutsche AMC • Deutsche Bank •

Dexter • Diageo • DLF • DLF Marketing • DLF Pramerica Life Insurance • DLF Universal • Dun & Bradstreet • E & Y • Ebrahim Abdul Aal • Edleweiss • Eicher • Elite Stock Management • Emaar MGF

• Emirates Neon • Encompass Events • E-Serve International • Euro RSCG • Evalueserve • Eveready Industries • Everest Industries • Executive Access • Exhibitions India • Expeditors • FCB-ULKA •

Featherlite • Ferco Singapore PTE • Fever 104 • Financial Technolgogies India-MCX • First Gulf Bank • FORD • Fortis Securities Ltd. • Fortune India • Frost & Sulliven • Fuji Bond • Future Generali

• Ge Money • Genesis Burson – Marsteller • Genesis Luxury • GENPACT Analytics • GM Overseas • Godrej & Boyce • Godrej Hi Care • Gold Souk (AGS Group) • Goldman Sachs • Goldstar International

• Google • Grail Research • Grand Ashok • GRANT THRONTON • Grasim Industries Ltd. . • Group M • Haier Appliances • Havells India • Hawk Media LL • HCL • HCL Comnet • HCL Infinet •

HCL Infosystem • HCL Infosystems • HCL Technologies BPO Service Ltd. • HDFC • HDFC Asset Management Company Ltd. • HDFC LIFE INSURANCE • HDFC Mutual Fund •

HDFC Standard Life • Hero Mindmine • Hewlett Packard • Hill & Associates • Hindustan Times • Hindustan Unilever Limited

• Hindware • Hitachi • Honda Seil India • Honeywell • HP Invent • HSBC • HSBC Invest Direct • Hughes

Net Fusion • Hutch • I.D.E.A • IBM Daksh • IBN • ICICI Bank • ICICI Direct • ICICI Lombad General Insurance

• ICICI Prudential • ICICI Securities • ICPAR • IDBI Fortis • IFFCO TOKYO • I-gate • IL & FS • India Bulls • India

Infoline • India King • IndiaMart • Info Edge (Shiksha) • Infosys • ING Investment • ING Vysya Bank •

I N G Vysya Life Insurance• ISRDO • ITC Wills Lifestyle • ITW signode • J Walter Thompson • J. P. Infrastructure • J.K. Industries • Jindal Steel • JK Risk Managers and Insurance Co. • JK Tyre & Industries • Johnson & Nicholson • Jones Lang LaSalle Meghraj • Jumbo Electronics • Karvy Stockbroking • Kelly Services • Keslec

Schreder • Khemka Group • Khimji Ramdas LLC • Kingfisher • Kirloskar Oils Ltd. • Knight Frank • Kohler India • Kotak Bank • Kotak Commodities • Kotak Life Insurance • Kotak Securities • Kotak

wealth • Koutons Retail India Ltd. • KPMG • Krome • Kuehne + Nagel • Lafarge Group • LG Electronics • Liberty Retail Revolutions Ltd. • Lintas Media Group • Ma Foi • Madison Media Group • Maersk • Magma Shrachi Finance • Mahindra and Mahindra • Mahindra Finance • Mahindra Group - Club Mahindra • Majid Alfuttaim • Man Group PLC. • Manpower Consulting

• Max Bupa Health Insurance • Max Health Care • Max New York Life • Mearsk Line • Metlife Insurance •

MGF Group • Moolchand Healthcare • Mother Dairy •

Motilal Oswal • Motilal Oswal Financial Services • Motivate Group • MURUGAPPA • Naukri.com • NDTV Imagine • NIIT • O&M • Office Tiger • Ok Play • Omam Consultants • Omaxe • Onicra • OOH Media • Oracle • Oralce Direct • OSIM • OSRAM • Pantaloon Retail • Parryware • Patni Computers • Pepsi

(Tropicana) • PepsiCo International • Perot Systems TSI (India) Ltd. • Phoenix • Piaggio Vehicles • Pipal Research • Planman Consulting

• Planman Media • Planman Motion Pictures • POLARIS • Punj Loyld • Q2AMedia • QAI • R K Swamy BBDO • R. R. Oomerbhoy Pvt. Ltd. • Radico Khaitan • Radio

City • Radio Mirchi • Radio Today Broadcasting Ltd. • RAK BANK • Rcube International • Realistic Realtors •

Recerche • Red Bull • RED FM • Rediffusion DYR • Redington India • Reebok • Reliance Capital Ltd. - Consumer Finance • Reliance Communication • Reliance Consumer Finance • Reliance Digital • Reliance

Entertainment-Big Flicks • Reliance General Insurance Company • Reliance Infocomm • Reliance Life Insurance • Reliance Lifestyle

• Reliance Money • Reliance Mutual Fund • Reliance Retail • Reliance Securities • RELIGARE • Religare Finvest • Religare Macquarie • Religare Securities Limited • Relio Quick • Royal Sundaram Alliance

Insurance. • RPG Cellucom • RR DONNELLEY • RUBECON. • Sab Miller • Sahara • Saint Gobin • Sakshi Advertising & Publicity • Sampark Business Strategy Pvt. Ltd. • SAMSUNG • Satyam Computer

• Saud Bahwan Group • Saudi Archirodon Ltd. • Searce • Sharaf Group • Share Khan • Sharp Business Solutions • Shoppers Stop • Siemens Power Engineering Group • SIFY • Standard Chartered Bank • Standard Chartered Finance Ltd. • Star Cruise • Sun Networks • Sundaram Finance • Suzuki Motorcycles India Ltd. • Swedish Trade Council • Synovate • Sys Mind LLC • Taj Group • Taj Mahal Hotel • Taj Tristar • Targus Technologies • Tata AIG • Tata Motors • TATA Technologies • Tata Teleservices Ltd. • TCS • Tech Mahindra • TERI • The Grand • The Oberoi

• The Park • Thomas Reuters • Thomson Digital • Times Job.Com • Times Of India • Titan Industries • TNS • Tommy Hilfiger • Trident • UB Group • UBS

Cognizant • UTI BANK • UTI Securities • Vishal Megamart • Vodafone • Wacorp Hyundai India Ltd. • Walldrof Weich Technologien •

Walsons Securitas • Way2Wealth • Welspun • West End Club • Whirlpool • WIPRO • Wipro

KPO • WNS Global Services • XEROX • Yamaha Motors • Yes Bank • Yes Bank

Retail Banking • ZEE Network • Zydus Cadila * This is just a shortlist of the companies where our students got PLACED in the last five years!! We are thankful to them and to all others too!!

1500+

COMPANIES IN 5 YEARS!

More than

99%+

PLACEMENT RECORD

FOR LAST 5 YEARS!2850+ PLACED!

For class of ‘11

350+INTERNATIONAL PLACEMENTS IN LAST 4 YEARS

REAL EDUCATION

REAL PLACEMENTSwww.iipm.edu

count your chickens before they hatch 3 october 2011

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editorial & research

FOUNDER EDITOR: MALAY CHAUDHURIEDITOR-IN-CHIEF: ARINDAM CHAUDHURI

CHIEF CONSULTING EDITOR: PRASOON S MAJUMDAR

EXECUTIVE EDITOR: Namita Chhetri CONSULTING EDITOR: Sray Agarwal

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DEPUTY ART DIRECTORS: Pragnesh Patel, Siddharth KapilSENIOR DESIGNERS: Priyankar Bhargava, Alpana Aditiya,

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photography

GROUP PHOTO EDITOR: Ranjan BasuPHOTOGRAPHER: Sujan Singh, Mukunda De,

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production

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marketing

VICE PRESIDENT: Amim Ahmed VICE PRESIDENT (WEST): Guljar Singh

ASSOCIATES VICE PRESIDENT (AD SALES) : Sumit Raina, Rajat Sogani

GENERAL MANAGER (SOUTH): Sunil Kumar GENERAL MANAGER (EAST): Bhaskar Mojumdar

REGIONAL HEAD: Atul Kapoor

circulation

REGIONAL HEADS: Swaroop Saha, Bhupinder Bisht, Kunj Bihari Joshi, Venkat Narasimman, Joydeep Ganguly

SALES MANAGER: Manoj, Rizvi, Mukund, Parameshwara, Shihabuddin

CYCBTH online

CHIEF WEB DESIGNER: Neel Verma

SR. WEB DEVELOPER: Anil Sheoran, Christopher Mani, Sandeep Rohilla, Manoj Chandelkar

VOL 1 ISSUE 1 OCTOBER 2011

Albert Einstein once said, “The only real valuable thing is intuition,” and the society that honours the

servant [the rational mind] has forgot-ten the gift [the intuitive mind]. This is aptly applicable to today’s business world as well! With business decisions becoming more complex, corporate executives are more and more relying on gigabytes of market research data in order to reach a decision. Gone are the days, when entrepreneurs and CEOs would keep everything at bay and put their foot down even against

conventional thought-process. But there are people who have proven the skeptics wrong, like Bill Gates, who never went for an intensive market research before launching his fi rst operating system. Business leaders like Mark Zuckerberg, Bill Gates and Richard Branson rely more on their instinct for taking decisions. Once in an interview, Richard Branson said, “I do a lot by gut feeling and a lot by personal experience... if I relied on accountants to make decisions, most certainly I would have never gone into the airline business. I would not have gone into the space business...” Same goes for Bill Gates, Andrew Grove and many others who relied on their passion and gut feeling to materialize their vision.

In numerous cases, assumptions and researches have proved to be oth-erwise. The New Coke fi asco is a case in point. Herman Miller, the furni-ture manufacturer, decided to go with market research (that showed how executives want their offi ce chairs to be senatorial or throne-like) and not on their past experiences and made offi ce chairs that were slender with transparent concoction of black plastic (in short the ergonomics chairs) and eventually found very few buyers.

After all, gigabytes of number crunching can’t win over the experience an executive earns over the decades — and this is what forms the funda-mental of his/her basic instinct aka the gut feeling.

Leadership is all about believing in oneself and not relying on numbers. And this magazine will present you the stories of those business leaders who defi ed the conventional research and traversed their own path. Along with all these names, I would like to add one more, our Editor-in-Chief, who in his book ‘Count Your Chickens Before They Hatch’ puts all this winning attitude in a pithy manner in just one line — "if you think you can, you’re right."

But before signing off, I would like to thank my editorial team who reached out to such business leaders to make this fi rst issue of CYCBTH refl ect our intent and thoughts in its true sense, the design team who gave it a world class look and the production team without whose tireless efforts this issue of CYCBTH wouldn’t have reached your table! Thanks to this wonderful team of CYCBTH, I can always count my chickens before they hatch!

THE POWER INSTINCT!

(SMS your views with your name and topic to 0-9818101234)

Namita ChhetriExecutive Editor

EDITORIAL

BEFORE THEY HATCH

COUNTYOURChickens

A 4PS B&M QUARTERLY SUPPLEMENT ON BUSINESS LEADERS

AN ICMR-IIPM THINK TANK PUBLICATION


COVER STORY

Phil JohnsonFounder & President Master of Business Leadership Inc.

EQ IS WHAT MATTERS THE MOST IN GLOBAL ECONOMY

08

Gordon CurphyPresident Curphy Consulting Corporation

YOU NEED TO BE A FOLLOWER18

David VeechExecutive Director Institute for Lean Systems

LEADING FOR THE FUTURE40

Sray AgarwalConsulting Editor

MEMOIRS LIVES A LEGACY42

EDITORIAL The power instinct! 3

FLASH POINTSWhat after Steve Jobs? 6End of a Great Innings 7

KICK OFFS "Thoughts about quitting do come to start-up founders..." 10Atul PhandisCEO, What's-On-India

MIDDLE ORDER"We love to create jobs for different levels of people" 13R. Vishal Oberoi CEO - Market Xcel

MARKETING MAVERICKS"In 4Ps-ICMR survey, we were one of the most trusted brands" 16Girish Shah VP - Marketing, Godrej Properties Ltd

INFOGRAPHICSBeyond Numbers 32

LEADERSHIP STYLESLooking beyond the Halo 34K K SrivastavaAdvisor, IIPM Business Press

LEADING LADIESThe Crystal Queen 36 Sukanya Dutta Roy Director, Swarovski

FLIP SIDE "I get motivated from the things I do…" 38Willi HaueterExecutive Chef, Th e Imperial Hotel

LEADING BY READINGToo Many Bosses, Too Few Leaders 41

Cover Illustration by: Dhir

21

Aloke and Deepak Jalan, Linc Pen & Plastics 24Sam and Lara Balsara, Madison World 26Pritish and Rina Nandy, Pritish Nandy Communications 28Agarwal and Goenka family, Emami Group 29

ALL IN THE FAMILY

CONTENTS


INTERNATIONAL

$2.3 BN SCANDAL

WILL CFO BECOME CEO?

On August 24, 2011 Steve Jobs, the 'Minister of Mag-ic' at Apple Inc stepped down as CEO in a stunning move that ended his 14-year reign at the technol-

ogy giant. Apple’s Board of Directors named Tim Cook, previously Apple’s Chief Operating Offi cer (COO), as the company’s new CEO. Hours after the announcement, Wall Street reacted to Jobs' resignation with a fi ve per cent dip in the company's stock price in after-hour trading, and most critics were anticipating a further decline. But sur-prisingly, investors remained confi dent and the company's stock performed better which is an indication of Jobs's well crafted succession plan. Without any doubt, Steve Jobs is considered as one of the most iconic CEO in corporate his-tory. Even some critics felt that customer demand for Ap-ple products might be effected by the end of Apple co-founder Steve Jobs' era while the other assured that the iPad will remain the market leader in the enterprise tablet market for the envisioned future.

Most of the companies have gone through certain crisis points and each of them has their own dif-

ferent and special history. Even the mul-tinational information technology corpo-ration Hewlett-Packard is not an excep-tion. Leo Apotheker (ex-CEO of HP) mere-ly served the company for a period of less than a year (from Sept 30, 2010 to Sept 22, 2011). The company has announced former eBay CEO Meg Whitman as its new CEO — the fourth in the last six years. She has taken the responsibility in the crucial and somewhat diffi cult time for the com-pany that has faced its stock price plunge of 47%, its $1.2 billion mobile OS splash and is considering spinning off its PC busi-ness. Perhaps, this phase might be consid-ered as the most defi ning period in HP’s history since its inception.

"I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the fi rst to let you know. Unfor-tunately, that day has come" - at the 2011 Apple World Wide Developers Conference at the Moscone Center on June 6, 2011.

As per the fi ndings (in 2009) of Russell Reynolds, a recruiter who specializes in CFO placements, only 14% (one in seven) of Fortune 500 Chief Ex-

ecutive Offi cers (CEOs) have previously served as Chief Financial Offi cers (CFOs). Even none of the top CEOs in Harvard Business Review's 2010 list of 'The Best-Per-forming CEOs in the World' had worked earlier as CFO. But the scenario is changing drastically after the fi nan-cial crisis. According to Ed Heffernan, the present CEO of Alliance Data, CFOs who have been experienced by the global fi nancial crunch in 2008 might fi nd it easier than ever before to become a CEO from CFO. As a matter of fact, Hewlett-Packard's CFO Cathie Lesjak was ap-pointed as interim CEO after Mark Hurd’s sudden res-ignation last year. In the same lines, AMD's CFO Tomas Seifert stepped in as interim CEO in January 2011 after CEO Dirk Meyer's resignation.

WHAT AFTER STEVE JOBS?

UBS chief execu-tive Oswald Gru-bel had resigned on Sept 24, 2011 after he was al-leged for $2.3bn

rogue trading scandal.

Rank Name Net Worth Organization

01 Carlos Slim Helu $74 billion Telmex, America Movil

02 Bill Gates $56 billion Microsoft

03 Warren Buffet $50 billion Berkshire Hathaway

04 Bernard Arnault $41 billion LVMH

05 Larry Ellison $39.5 billion Oracle

THE WORLD'S TOP 5 BILLIONAIRES (FORBES 2011)

GONE IN 11 MONTHS!

FLASH POINTS


NATIONAL

RELIANCE BANK

PHILANTHROPIST OF THE YEAR

IRON ORE CRISIS

Business tycoon Anil Ambani’s group's fi nancial services arm Reliance Capital is planning to

leave no stone unturned to enter the banking sector. The banking entity of the group would be called Reliance Bank. After the announcement on Sept 27, 2011, shares of Reliance Capital trad-ed better and rose by over 5% (and touched a mark of Rs 411.40). The com-pany has also made plan for its asset management businesses to enter other emerging markets and might go for fur-ther expansion of its wealth manage-ment and private equity businesses.

Since its incorpora-tion in 1892, Britannia has been

trying to put its brand ap-peal to greater use by foraying into dairy, baked snacks and ready-to-cook breakfast segments. Britannia In-dustries has recently planned aggressive moves beyond its core biscuits business as its ambitions now encompass the entire world of food and bever-ages industry. Managing director Vinita Bali said that the 119 year-old company has huge poten-tial to grow beyond bis-cuits and the growth would be meaningful and sustainable. Under the leadership of Bali, sales of the company has been growing by 22% annually since 2005.

Never respect men merely for their riches, but rather for their philanthropy; we do not value the sun for its height, but for its use. The afore-

said proverb is most suitable with Indian Telecom czar and chairman and Group CEO of Bharti Enterprises Su-nil Mittal who started business as a bicycle manufac-turer and is now heading the country's leading business conglomerate, has been recognised for his outstanding contribution in the area of education for the under-privileged through Bharti Foundation, the philanthrop-ic arm of the Bharti Group. Due to empowering rural communities across India, through education, he had won the award of Philanthropist of the Year, 2010 by the Asian Awards which recognises and rewards exem-plary achievements across twelve categories that in-clude business, philanthropy, entertainment, culture, sport and others.

Compiled by: Amir Hossain

After a 30-years of illustrious innings, software tycoon Nagavara Ramarao Narayana Murthy better known as N. R. Narayana Murthy has

stepped down as Infosys chairman on August 19, 2011. The unforgettable journey of Infosys was started with only six professionals and with a capital of Rs. 10,000 in 1980. Under his leadership the company grew and touched a fi gure of Rs. 27,000 crore! In 1999, Infosys became the fi rst Indian company to be listed on the New York-based stock-exchange NASDAQ. All this have materialised due to undermining leadership qualities of Murthy which is recognized universally. Murthy's retirement came at a tough time and Infosys is looking forward to their new dynamic and infl uen-tial Chairman, K V Kamath, to overcome the tough business conditions and to thrive in an increasingly competitive environment.

JSW Steel recent-ly announced their plans of

shutting down their Vijayanagar plant in Karnata-ka due to a con-

tinuous shortage of iron-ore.

END OF A GREAT INNINGS

BEYOND BISCUITS

EMOTIONAL QUOTIENT


Dr. Phil Johnson is the founder and President of Mas-ter of Business Leadership Inc. (MBL), a renowned name in delivering comprehensive step-by-step so-lution for business and marketing. His breakthrough

book 'The Servant Warrior Leader' has encapsulated what true leadership is all about. Through his revolutionary ap-proach to success, this noted author has earned a distin-guished name for himself and his consultations, helped many companies not only to increase their revenues but also to ex-

"EQ IS WHAT MATTERS THE MOST IN GLOBAL ECONOMY"A HIGHLY SOUGHT-AFTER BUSINESS CONSULTANT AND A MAN WITH A UNIQUE VISION FOR LEADERSHIP, DR. PHIL JOHNSON IN AN INTERVIEW WITH MANISH BHATI, SHARES HIS OPINIONS REGARDING LEADERSHIP DEVELOPMENT AND THE IMPORTANCE OF EMOTIONAL QUOTIENT

pand their businesses. In an Interview with CYCBTH, he talks about the role of leader-ship towards organizational development and what are the ingredients required for becoming a successful leader.In the overall development of any organisation, Leadership is certain-ly playing a pivotal role. Apart from it, what other organizational re-sources do you think are needed for the successful accomplishment of any project?I fi rmly believe that the only success mantra for any company is to embrace continuous change and this change can be accomplished only through emo-tional intelligence. The following points deserve attention in this regard:1. Executives must be seen by fellow employees as change leaders through their actions.2. Identify and develop the organiza-tion’s initial leadership group (20% employees)3. Establish a shared passionate Vision that is communicated continually to everyone.4. Create an action-results focus that moves the organization toward its shared Vision.5. Empower the ‘business owners’ with-in the organization to deal with obsta-cles preventing progress.6. Celebrating “Wins and Better Re-sults” will help to silence those reluc-

tant to embrace change.7. Refuse to allow complacency to stop forward action

toward the shared Vision.8. Institutionalize these changes into the company’s

cultural DNA, its hiring and promotional practices.Conventionally leaders are the backbone of every organization and are playing a critical role in the overall development, why are only a few organiza-tions investing in leadership development?

Phil Johnson is a Master of Business Leadership Coach and

author of 'The Servant

Warrior Leader'

D R . P H I L J O H N S O N


"LEADING ORGANIZATIONS ARE SYSTEMATICALLY 'MINING' THE WORKFORCE IN SEARCH OF EMOTIONALLY INTELLIGENT DIAMONDS"

Airlines, Google, Infosys, Disney, Whole Foods, Fed Ex and many others have realised about their primary source of their success and they are systematically “mining” the workforce in search of emotionally intel-ligent diamonds.

Additionally, many top universities like UCLA, Stan-ford and Harvard have also undergone a major change in their screening process. Now, the applicants will go for an EQ competence as a part of their ticket to admis-

sion. The universities have also introduced assessment procedures in which the potential students will be put into the kind of situations they will face as doctors. Even, a multiple mini interview (MMI) process is being used to simulate real life medical situations to see how applicants respond. Even Nitin Nohria, Dean of Harvard Business School, recently said that the students need to harness leadership skills that include emotional intelligence. They need to be “better at integrating everything they are learning, particularly to develop an entrepreneurial imagination.” Through the development of emotional intelligence we are able to embrace continuous change and the inevitable feelings of discomfort that we experi-ence as we move toward better results.

To have capable leaders, one needs time and resource commitment. Today, with major focus on tactical activi-ties, most of the companies have been in a race to have an edge upon each other. In such a scenario, they are losing their focus. Most of the organizations have been excessively focused on tactical activities producing short term results with dramatically less effort placed on stra-tegic activities that are important but not urgent.

For an example, let’s talk about Apple’s success. Here’s a very peculiar thing about Apple’s “recent” success.

It isn’t recent. Over the years, the company has been investing in its employees and with this recent success the only thing which has changed is in some numbers. Today, Apple is the largest company in the world, the second most profi table company in the world and pos-sesses the most profi table retail stores in the world. While the other numbers have not changed: customer satisfaction, customer loyalty, consumer ratings and so on and so forth.

With time one can say that “Apple is better.” But Ap-ple has not changed. They have been operating with the same vision, principles, discipline and methods. The company has been doing things much differently than most other companies for the past ten years. It’s just that now the numbers confi rm it.Emotional Quotient (EQ) is a factor which now de-termines applicant’s capability and number of or-ganizations are now screening their applicants on their EQ level. What skills, knowledge and abilities do you think an individual must have which can ultimately benefi t the organisation?EQ is the only thing which matters the most in the Glo-bal Economy. Leading companies like Apple, Southwest


KICK OFFS

A man who aims to reshape the Indian television in-dustry, Atul Phadnis, has come up with India’s larg-est TV Guidance and EPG (Electronic Program Guide) company – What’s-On-India (formerly called

as MediaE2E). The company has launched India’s fi rst channel dedicated to television guidance with an aim to help viewers in making sense of programmes in over 200 channels. Popu-larly known as cupid between the ‘right’ eyeballs and the ‘right’ content, the channel tells you what to watch on TV. Nearly 70 per cent of the viewers switch on their TVs without knowing exactly what to watch. In such a scenario, there are millions of viewers who are in a search-&-fi nd mode to fi nd interesting programs to watch. Its main USP is to advice and present viewers with information and recommendations of what television programs to watch and where to fi nd them.

Ranked among CNBC’s ‘Top Ten Young Turks 2010’ entre-preneurs, Atul Phadnis young media enthusiast has worked in several top agencies such as The Media Edge, MindShare in his career of fi fteen years. This was followed by a long stint at TAM Media where he was dedicated in providing custom-ized and knowledge-based solutions towards all spectrums of television. He was once quoted saying, “The emphasis is to raise the bar; challenge ourselves; and develop new emerging sciences and tools.”What research had you conducted before the incep-tion of What's-On-India?It was in 2004 when announcements were being made to usher in Digital Television via both DTH and CAS. Soon after, hundreds of channels in multiple languages and genres fl ooded television. At that time, this idea anchored in my head that consumers might need a dif-ferent mechanism to locate television programs and shows which are compatible to their tastes, interests and moods. The research, I conducted is basically on industry dialogues on the concept on one hand and a lot of international case-studies on the other.How is this business different from other conven-

ATUL PHADNIS, CEO OF INDIA’S LARGEST TV GUIDANCE AND EPG (ELECTRONIC PROGRAM GUIDE) COMPANY – WHAT’S-ON-INDIA - REVEALS HIS IDEA BEHIND THIS UNIQUE PROJECT TO MRINMOY DEY

“THOUGHTS ABOUT QUITTING DO COME TO START-UP FOUNDERS”

A T U L P H A D N I S


"MY GREATEST INSPIRATION COMES FROM READING BIOGRAPHIES OF INDIVIDUALS WHO HAVE ACHIEVED IMPOSSIBLE FEATS WITH MEAGER RESOURCES"

tional EPG model?The TV Guidance model is a mode of generating license revenues for the technology business and advertising/promotional revenues for the television channel. This business model is well established and well known in many other parts of the world.What was the fi rst step you took for its inception? Starting an enterprise means that the entrepreneur has to master skills that are very diverse and domain spe-cifi c — Technology, Business Strategy, Finance, HR, Legal, Shareholding structures, Corporate Governance. But it’s impossible for one to master all of these even in a lifetime. And it’s impossible to buy these services for a small start-up. My fi rm belief is that if an entrepre-neur is not taking help on these areas/ matters – he is at a risk of taking bad decisions and losing time in the critical initial days. The concept of EPG being very naive in India, was it tough for you to convince the investors about the business viability?Well, this is a fairly laborious process especially if your idea is a pioneering one – something that doesn’t exist in our market yet. Once you meet a host of investors you begin to understand the way they will apply their rationale, logic and investment tools to your business model. It wasn’t until I had met several potential inves-tors before I got a hang of what could be a viable mod-el that would earn their support and backing.What hurdles did you face at each step and how did it help you in building a strong company?Of all the challenges one faces in an entrepreneurial journey the ones that threaten the enterprise’s very existence are:

1. Business Plan Viability and the conviction that dif-ferent people have on the model. When the venture is at a planning stage, potential clients, team mem-bers, mentors and investors – will all question the need and viability of the business model. The entre-preneur’s own conviction and articulation is extremely critical at this point. Not to mention oodles of patience, so as not to come across as blindly con-vinced of an idea to the extent of contradicting eve-ry valid critical comment.

2. Funding is critical and fall back options need to be created early on. The key rule in a new enterprise creation is that plans need to be fl exible. Plans change, projects will get delayed, client wins and revenues will be delayed and cost over-runs will take place!

KICK OFFS


3. Status Quo comfort zone: Entrepreneurs should nev-er underestimate the resistance that a market (con-sumers or customers) will impose on new ways of doing old things. Just because your idea makes things go faster or better doesn’t mean that it will be em-braced by markets with ferocity. Typically new brands, products, concepts, ideas and models require time and a lot of patience.

Do you believe mentoring is essential and can be a life-changer?Certainly yes! Mentors are like building blocks that self-lessly come in for their love or relationship with the entrepreneur. I was lucky enough to have such people around me who always guided me selfl essly. However, my greatest inspiration comes from reading biographies of individuals who have achieved impossible feats with meager resources, in business world. I would like to mention a trilogy book series I’d read on Alexander - The Great, plus three different biographies on Steve Jobs (Ex-CEO of Apple Computers).Your leadership and vision has been an example for many. Can you tell our readers what is your leader-ship mantra?Although this is a tough question as it is the term which changes with respect to situations. But I would like to believe my leadership:1. Is excitable on concepts and strategies2. Who demonstrate initiative and leadership.3. Stresses on clear communication for exchanging

ideas and enterprise vision/direction/objectivesHow is leading a startup different from leading an already established company?When I think about an established company, I believe

that it is a company where the clients, the products/services, the business model, the skill-sets needed with-in the company resources, the fi nances are more or less fi gured out or established. However, big question marks hover over all these things for a startup. Hence, the leadership mind-frame and approach needed within a startup is very different and challenging vis-à-vis an established company.You might have faced situations when you thought it is better to give up; what should entrepreneurs do in times like these?Yes! At times I had thoughts about quitting. I guess thoughts about quitting do come to start-up founders. But the force that keeps entrepreneurs going, is their belief in their dream as well as the passion to prove that belief. During tough times, mentors play a signifi cant role as they can give you right advice when founders are faced with impossible and diffi cult choices.Where can we expect to see What’s-On-India in years to come? What are your future plans?Apart from dominating the set-top-box EPG ecosystem, we have recently signed partnerships and MoUs with some of the largest devices companies in the world to launch solutions in this space. Talking about ‘What’s-On-India’ television channel and other media portals that we own, we are consolidating these under one brand to create a Consumer TV Guidance powerhouse that will help consumers search-&-discover content anytime, anywhere. However, there should be an excit-ing times for the television industry as new devices emerge in the digital television domain.

ev-on-s of ngsem-

that it is a company where the clients, the products/services, the business model, the skill-sets needed with-in the company resources, the fi nances are more or less fi d t t bli h d bi ti k


"WE LOVE TO CREATE JOBS FOR DIFFERENT LEVELS OF PEOPLE"

R. VISHAL OBEROI, CEO - MARKET XCEL, IN CONVERSATION WITH MRINMOY DEY DIVULGES MARKET XCEL’S CORE COMPETENCE AND HOW THEY PLAN TO MAKE SPACE FOR THEMSELVES IN DOMESTIC AND INTERNATIONAL MARKET

Established in the year 2000, Market Xcel has grown into a leading Research company in the country and has worked extensively in sectors like Automo-tive, Healthcare & Pharma, Information & Technol-

ogy, Telecom, FMCG, Retail, Banking & Finance and Media.

Under the aegis of Mr. R Vishal Oberoi, Market Xcel has become India’s leading end-to-end market research fi rm that provides customised market research solutions in the fi eld of B2B research, consumer research, fi nancial and policy research.

MIDDLE ORDER


not directly proportional to those large companies. But today as we are visible everywhere, HR or people man-agement has become very important. The beauty with the small organization is that they focus on HR issues lot more than bigger organization. So we have advan-tage over it, that’s why I earlier said that we still have our fi rst employee working with us.What are the strategies you have adopted to create space in a marketplace already fi lled with estab-lished brands like IMRB, TNS, IDC?I won’t say we are countering that, we are trying to create a space for ourselves. The idea behind concep-tualizing the Market Xcel was not to compete with bigger organizations. But we realized that there is al-ways a space for smaller or mid size organizations also. That's why we started as a small entity but we have grown day by day and still growing. Still we are not a very big company but we have been able to make space for ourselves in this competitive world because we have got good clients compared to our competitors or other big players in the industry. What has been the biggest challenge you have faced till now?There are many. But would I like to mention that it is very diffi cult to counter against bigger organizations as they have better technology and workforce which is a huge challenge for company like ours. But with the most effi cient existing team, we have been able to overcome the challenge successfully.SMEs generally struggle to raise funds. In the same

What are the challenges and hurdles typically faced by a market research fi rm?I won’t say hurdles those are challenges which are the part of any start up or any organization. Because if life is so smooth, you will not enjoy working in it. We faced challenges related to fi nancial composition as well as competition. We have gone through cut throat com-petition as there are many big players who are well established names and brands in the market. Entering into a client’s offi ce and deals need to be done from them is always a challenge but once you deliver that becomes the fi rst step to your success on that client.How many of these are directly related to HR or people management?When we were small that did not bother us as we were

"IF YOU TAKE CARE OF YOUR EMPLOYEES, YOUR EMPLOYEES WILL TAKE CARE OF YOUR BUSINESS, THAT’S A STANDARD

SAYING THAT WORKS EVERYWHERE"

In just one decade, Market Xcel has become a well recognised brand in the fi eld of marketing re-search. How has been the journey so far?We started in November 2000. It’s been almost 11 years now and it’s a decent amount of time that we have invested in the entire organization. We have always focused on strategic plans which have differentiated us from the big players. It is always very diffi cult to compete with the existing and branded big players but we have succeeded on that part. We have always ful-fi lled the needs of our clients by maximizing the out-put and minimizing the delivery time. We have diver-sifi ed ourselves with time. We have enhanced our portfolios by entering into new arenas like research & online panel from the initial data collection agency. Still we are fi nding new areas to explore ourselves.How much has your leadership added to the success story of the company? It’s not only about my leadership, it has always been a team effort. We have been fortunate enough to have an enthusiastic and intelligent set of people with us for a very long time. As a matter of fact, our fi rst em-ployee is still working with us. So the entire team has contributed towards the success of Market Xcel. What was the idea behind the inception of Market Xcel and why a market research fi rm? There is an old saying like “Do What You Love.” My partner Manish and me entered into this business be-cause we love to do market research. Everyday is just like a new challenge in research as we get to know about the new products and services in every bit of time and the learning space is too wide here. This is the idea of research that landed us into market research.

MIDDLE ORDER


light, what is the funding model of Market Xcel?We ran the organization on our self funding till around 2008 except for a few bank loans we took. In 2008, we made a joint venture with a Japanese company which helped us to enhance our cash fl ows and capital. We looked forward for this joint venture because it gave us leverage to bring new technology to our work environment. How does Market Xcel plan to contribute towards India’s Economic growth?We don’t fall into any category where government as-sistance exists and we are not even a predominantly IT driven fi rm. Fabric of any research fi rm is based upon human resources and we are no exception. We hire people ranging from least educated to highly educated, qualifi ed professionals as per the require-ments. So in other way, we love to create jobs for dif-ferent levels of people. So indirectly, exploring the way to earn money to many people, we are accelerating the India's Economy Growth.Does price play a signifi cant role in market re-search? What are determinants you focus on to create an edge?The most important things that we focus on are qual-ity, on time delivery and price. We least emphasize on price as it can not be the only determinant factor for vendors or suppliers or clients. But quality and deliv-ery on time can be determined by us.How important the process upgradation is and what initiatives have you taken in this area?

We have already changed the whole data collection process. Instead of preparing it on a pen and paper, we have started to prepare it using technology like tabs. We have also initiated a consultancy division. In addi-tion to that we are immensely focusing on three basic metrics i.e. quality, on time delivery and price for any project to make our clients satisfy.Does leadership play a vital role in a market re-search fi rm?Leadership plays a big role for any organization and for any form of business. So market research per say is not different. You always need infl uential leaders who can take the organization to a higher level. In ad-dition to that leadership plays a key role when 'human relations' comes into the picture. They have to be very sensitive while interacting with employees and should know how to keep them motivating.At any point of time, did you ever feel the need of a mentor or an inspirational fi gure to keep yourself motivated?My business partner Manish is an inspirational fi gure for me and I have always been very fond of Dhiru Bhai Ambani, the way he built the empire called Reliance. Doing something from scratch and making it large is itself an inspiration. At the very beginning, when we were like just 10 months old, we did a very big study for Reliance group. During that time we came to real-ize that if you work for something bigger and focus on it, you can achieve it easily.How do you differentiate yourself as a leader?My partner Manish and me are the people of our em-ployees. We always care for them and always have worked upon it. I think that the success story of any business lies upon how do you take care of your em-ployees. Because if you take care of your employees, your employees will take care of your business, that’s a standard saying that works everywhere. It is very important to take care of your team.Recently Market Xcel has launched a program for SMEs. So, do you have any other industry specifi c plan in the pipeline?No, we have not made any industry specifi c plan. It’s a matter of size. Once you grow in size, you can diver-sify yourself and make yourself specialist into one vertical or the other. When we will grow enough, def-initely we will make some plan like entering into any other industry but not currently.What are your future plans for the growth of your business and what is the scope in a market like India where companies are still skeptic about mar-keting research?As we all know that India is a story which is still build-ing up in a big way and is attracting global attention. So as of now, there are very huge opportunities to work in India. We are working hard to grow our businesses. With the growth of our business, we constantly look forward for better opportunities where we can grow and make it large.

R V I S H A L O B E R O I

MARKETING MAVERICKS


Girish with over 17 years of experience with leading fi rms across industries has been bestowed with arrays of awards (almost every year). To his credit, he played a vital role in launch of Reliance Power IPO and had

served as a CMO at Reliance Capital. Under his leadership, most of the brands he worked for saw a steep improvement in vari-ous brand surveys. Currently, working with Godrej Properties Ltd (GPL), Girish is quite optimistic about the unique marketing campaigns they are launching for their new projects.In your career journey so far, you have worked in different and versatile industries. What differences did you notice in the marketing strategies across industries, over time?I have spent around eight years working in the FMCG sector with Reckitt Piramal and Johnson & Johnson. Then I was associated with the launch of Kingfi sher Airlines and Reliance Power IPO and in the branding strategies in UB Group and Reliance ADA group for an-other eight years. And currently I am with the Godrej Properties. At the end of the day, the ability to identify the key driver, issues and challenges associated with the business domain is the hallmark of a good market-ing and sales professional. Across industries, the prod-uct offerings vary but the main challenge remains the same — satisfying the consumer needs. In the last few decades Sales and Marketing has gone through dramatic changes. How have your leadership style changed over the period?Sales and Marketing is the people oriented function of an organization and the sense of appropriate action and the ability to convince the set of people you are interact-ing with – be it your customer, your subordinates — is of utmost importance and hence a collaborative approach is quintessential. We, at Godrej Properties are not in the business of brick and construction but it's a business of building relationships. Hence, I follow a leadership where the focus is on driving and thriving on people's desire and wants and the ability to manage as well as exciting them by sharing the passion among them. Instead of us-ing a strict approach, getting people to appreciate and respect the decision I take is my leadership mantra.

Did you have any mentor or a leader whom you admire or draw inspirations from?Inspiration doesn't necessarily have to come from other leaders of the function. Honestly, I draw inspiration from everything; it might be from a colleague of mine or peo-ple of different profi les, it can come from even within your body. Hence, it is essential to keep an open mind to keep learning and reinvent oneself in the process. What is your approach towards developing a project and formulating a marketing plan?The affordable housing project (with a tie-up with SBI) that we have across India is about deriving a price point

"IN 4PS-ICMR SURVEY, WE WERE ONE OF THE MOST TRUSTED BRANDS"GIRISH SHAH - VP, SALES & MARKETING, GODREJ PROPERTIES LIMITED EXPLAINS TO SRAY AGARWAL AND MRINMOY DEY, HOW THEIR UNIQUE MARKETING PLANS AND ENVIRONMENTAL AWARENESS DRIVE ARE ADDING VALUE TO THEIR BRAND

G I R I S H S H A H


which appeals to the masses. So, a marketing plan would involve in creating a high level of trust around Godrej Properties project and constantly look for suit-able media and mode of communication with target audience to let people know about the project proposi-tion and Godrej Properties as a brand in whole. For that, we look at various consumer activation opportunities. We organize and sponsor in a lot of Gujarati theatre to tap on to our 'Godrej Garden City Ahmedabad' project. Thus, we try to create a favourable perception around the project. We launched a premium project called 'Go-drej Platinum' in Bangalore. To promote it, we have tied-up with Karnataka Golf Club (KGA) to build a pre-mium/ royal image and to cater to the customers. Godrej Properties Limited has recently launched a YouTube portal where people can share videos about Godrej Properties. How does this add value?One of the most important factors we focus on is build-ing trust. People who can’t come to the project site (for example NRIs) to have a feel about it, can log onto Youtube and via our channels can browse through vid-eos and project information. We also have an image gallery on Flickr. Thus, it allows people to have a more clearer and excite-full understanding about our differ-ent projects without directly visiting our plants.How Godrej Properties' environment awareness drive sync with the company's philosophy?It is our Vision and we strongly believe in creating a sustainable environment. So, everything we do is keep-

"OUR YOUTUBE AND FLICKR PROTALS ALLOW PEOPLE TO HAVE A MORE CLEARER UNDERSTANDING ABOUT OUR DIFFERENT PROJECTS WITHOUT VISITING OUR PLANTS"

ing that focus in mind. While running a promotional campaign in Kolkata we created Oxygen masks where-in people came and breathe pure oxygen which facili-tated us to affi rm and create a perception of how one can experience such fresh air in the environment itself by increasing greenery. And, we do all this in an eco-friendly manner. What are the future marketing plans of Godrej in order to increase the brand value as well as to in-crease the market share?This is a two way approach as far as strategic direc-tion of the brand is concerned — one is to build Go-drej Properties brand and the other is to develop different project brand. Building Godrej Properties brand would involve creating awareness wherein people, who see our logo or design language, can comprehend what the brand stands for. We have a township project named ‘Godrej Garden City’ in Ahmedabad, ‘Godrej Prakriti’ in Kolkata and then ‘Godrej Platinum’ in Bangalore. These different projects have different focus and different set of cus-tomers. So, they need to be marketed properly keep-ing the target audience in mind. So, we do lot of di-rect mailing, organizing and sponsoring various events in order to communicate with the customer and build the project brand accordingly.What are the overseas marketing plans of Godrej Properties Limited?We have partnerships with various fi rms in the US and UK. We are developing opportunities in Canada. At the same time, we have Middle East, Australia and Africa also in the mind. Basically, we are focusing on those regions which have a strong NRI population. This year, we have sponsored the Grand Indian Independence Day celebra-tions in California which was largely to showcase and share Godrej properties portfolio to the NRI audience.Godrej Properties has recently won best marketing campaign award at CMO Asia award. We would like to know how these awards inspire?We won the CMO Asia Award for our Oxygen mask cam-paign for developing an environmental consciousness. Beyond this CMO Asia Award, the more important thing is that in a recent 4Ps-ICMR survey, we were considered as one of the most trusted brands. These kinds of inde-pendent surveys help us in creating a sense of confi -dence among the potential customers. And, we feel good about it that our efforts in decoding trust and building relationship is getting more visible and being appreciated by an independent fi rm.


Virtually everyone is a follower at some point in his or her life. And perhaps more impor-tantly anyone occupying a position of au-thority plays a followership role at times, as

fi rst-line supervisors report to mid-level managers, mid-level managers report to vice presidents, vice presidents report to CEOs, CEOs report to Board of Di-rectors, etc. This being the case, followership should be viewed as a role, not a position. It is worth keeping in mind that some jobs have clear leadership require-ments; virtually all jobs have followership require-ments. Given that the same people play both leadership and followership roles, it is hardly surprising that the values, personality traits, mental abilities, and behav-iors used to describe effective leaders can also be used to describe effective followership.

There are times when situational demands require that individuals in formal followership roles steps in to leadership roles. For example, a sergeant may take over a platoon when her lieutenant is wounded in battle, a volunteer may take over a community group when the leader moves away, a software engineer may be asked to lead a project because of their unique programming skills, or team members can be asked to make decisions about team goals, work priorities, meeting schedules, etc. That being the case, those followers who are per-ceived to be the most effective are those most likely to be asked to take a leadership role when opportunities arise. So understanding what constitutes effective fol-lowership and then exhibiting those behaviors can help improve a person’s career prospects. Effective follower-ship plays such an important role in the development of future leadership skills that freshman at all the Unit-ed States service academies (the Air Force Academy, West Point, Annapolis and the Coast Guard and Mer-chant Marine Academics) spend their fi rst year in for-mal follower rules.

Travelling down the path set by service academics, it may well be that the most effective people in any organization are those who are equally adept playing both leadership and followership roles. There are many

people who make great leaders but ultimately fail be-cause of their inability to follow orders or get along with peers. And there are other people who are great at fol-lowing orders but cause teams to fail because of their reluctance to step up into leadership roles. The more people develop leadership and followership skills, the more successful they will be.

FOLLOWERS GET THINGS DONEIt is important to remember the critical role followers play in societal change and organization performance. The Civil Rights and more recent Tea Party movements are good examples of what happens when angry follow-ers decide to do something to change the status quo. And this is precisely why more totalitarian societies, such as North Korea, Myanmar, or Iran tightly control the amount and type of information fl owing through their countries. Nothing gets done in organizations without followers, as they are people closest to the cus-tomers and issues, creating the products, taking orders, and collecting payments. Research has consistently shown that more engaged employees are harder work-ing, more productive, and more likely to stay with or-ganizations than those who are disengaged. Moreover, ethical followers can help leaders avoid making ques-tionable decisions and high performing followers often motivate leaders to raise their own levels of perform-ance. Wars are usually won by armies with the best soldiers, teams with best athletes usually win the most games, and companies with the best employees outper-form their competitors, so it is to a leader’s benefi t to surround him or herself with the best followers.

THE PSYCHOLOGY OF FOLLOWERSHIP Although asking why anyone would want to be a lead-er is an interesting question, perhaps a more interest-ing question is asking why anyone would want to be follower. Being a leader clearly has some advantages, but why would anyone freely choose to subordinate his or herself to someone else? Why would you be a fol-lower? Evolutionary psychology hypothesizes that

INTERNATIONAL COLUMN

YOU NEED TO BE A FOLLOWER

TRUST IS A COMMON FACTOR IN THE COST-BENEFITS ANALYSIS, COMPLIANCE WITH

AUTHORITY, OR LOYALTY TO LEADER’S HYPOTHESES

GORDON CURPHYPresident, Curphy Consulting Corporation


people follow because the benefi ts of doing so outweigh the costs of going it alone or fi ghting to become the leader of a group. Twenty thousand years ago most people lived in small, nomadic groups, and these groups offered individuals more protection, resources for sourcing food, and mating opportunities than they would have had on their own. Those groups with the best leaders and followers were more likely to survive, and those poorly led or consisting of bad followers were more likely to disappear. Followers who were happy with the costs and benefi ts of membership stayed with the group; those who were not either left to join other groups or battled for the top spots. Evolutionary psy-chology also rightly points out leaders and followers can often have quite different goals and agendas. In the workplace, leaders may be taking actions to improve job security. Therefore, leaders adopting an evolution-ary psychology approach to followership must do all they can to align followers’ goals with those of the or-

ganization and insure that the benefi ts people accrue outweigh the costs of working for the leaders, as fol-lowers will either mutiny or leave if goals are mis-aligned or inequities are perceived,

However, social psychology tells us that something other cost-benefi ts analyses may be happening when people choose to play followership roles. There are some situations when people seem all too willing to abdicate responsibility and simply follow orders, even when it is morally offensive to do so. The famous Mil-gram experiments of the 1950s demonstrated that

"EVOLUTIONARY PSYCHOLOGY ALSO RIGHTLY POINTS OUT LEADERS AND FOLLOWERS CAN OFTEN HAVE QUITE DIFFERENT GOALS AND AGENDAS"

G O R D O N C U R P H Y


people would follow orders, even to the point of hurt-ing others, if told to do so by someone they perceive to be in a position of authority. You would think the popularity of the Milgram research would subsequent-ly inoculate people from following morally offensive or unethical orders, but a recent replication of the Milgram experiments showed that approximately 75 percent of both men and women will follow the orders of complete strangers whom they believe occupy some position of authority. Sadly, the genocides of Bosnia, Rwanda, and Darfur may be all too real examples of the Milgram effect. For leadership practitioners, this research shows that merely occupying positions of authority grants leaders a certain amount of infl uence over the actions of their followers. Leaders need to use this infl uence wisely.

Social psychology also tells us that identifi cation with leaders and trust are two other reasons why peo-ple choose to follow. Much of the research concerning charismatic and transformational leadership shows that a leader’s personal magnetism can draw followers and convince them to take action. This effect can be so strong as to followers to give their lives for the cause. The 9/11 terrorist attacks; the Mumbai, Bali and London Tube bombings; the attempted bombing of the Delta airlines fl ight in December 2009; and suicide bomber attacks in Iraq and Afghanistan are examples of the personal magnetism of the Osama Bin-Laden and the Al-Qaeda cause. Although most people do not have the personal magnetism of an Osama Bin-Laden or a Martin Luther King is a subset of people who can engender a strong sense of loyalty in others. Those with this abil-ity need to decide whether they will use their personal magnetism for good or evil.

It is highly unlikely that people will follow if they do not trust their leaders. It can be very hard to rebuild trust once it has been broken, and followers’ reactions to lost trust typically include disengagement, leader or seeking revenge on their leaders. Many acts of poor customer service, organizational delinquency and workplace violence can be directly attributed to dis-gruntled followers feeling betrayed and the recent economic downturn has put considerable strain on trust between leaders and followers. Many leaders, par-ticularly in fi nancial service industry, seemed perfect-ly happy to disrupt the global economy and layoffs thousands of employees while collecting multimillion-dollar compensation packages. Given the lack of trust between leaders and followers in many organizations these days, one has to wonder what will happen to the best and brightest followers once the economy picks up and jobs become more readily available.

A FRAMEWORK FOR FOLLOWERSHIPA fi nal question or fi nding coming from the follower-ship research concerns follower frameworks. Over the past 40 years or so researchers have developed various models for describing different types of followers.

These models are intended to provide leaders with ad-ditional insight into what motivates followers and how to improve individual and team performance. When all is said and done the frameworks developed by these researchers have more similarities than differences, and a more detailed description of the Curphy-Roellig Followership Model can be found below:

The Curphy-Roellig Followership Model builds on some of the earlier followership research of Robert Kel-ley, Ed Hollander, and Barbara Kellerman and consists of two independent dimensions and four followership types. The two dimension of the Curphy-Roellig model are Critical Thinking and Engagement. Critical Thinking is concerned with a follower’s ability to challenge the status quo, identify and balance what is important and what is not, ask good questions, detect problems and develop workable solutions. High scores on Critical Thinking are constantly identifying ways to improve productivity or effi ciency, drive sales, reduce costs, etc.; those with lower scores believe it is the role of manage-ment to identify and solve problem, so they essentially check their brains in at the door and not pick them up until they leave work. Engagement is concerned with the level of effort people put forth at work. High scores are energetic, enthusiastic about being part of the team, driven to achieve results, persist at diffi cult tasks for long periods of time, help others, and readily adapt to changing situations; low scores are lazy, unenthusias-tic, give up, easily, are unwilling to help others or adapt others or adapt to new demands and generally would rather be doing anything but the task at hand. Engaged employees come to work to “win” as compared to com-ing to work “to play the game.” It is important to note the engagement does not necessarily mean working 70-80 hours a week, as people can be highly engaged and only work part-time. What one does at work is im-portant than the number of hours worked, but gener-ally speaking highly engaged employees tend to spend more time focusing to the challenges at hand than dis-engaged employees.

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Slackers Brown-Nosers

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COVER STORY

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ALL IN THEFAMILYFAMILY BUSINESSES ARE ADOPTING GLOBALLY PRACTICED MANAGEMENT NORMS AND ARE STRIVING FOR SYNERGY AMONG THE FAMILY MEMBERS ON BOARD!

COVER STORY


From the local kirana shops to nation’s largest brewer-ies, Indian Inc. is dominat-ed by family businesses.

Amidst scores of names that keep the fl ag of family business high, only a few have been able to create leadership synergy through knit-ting the family members together and avoiding any major clashes! The success of family business is directly proportional to values and emotional bondage a family has. It is sad but true that only 13% of family businesses in India survive till third generation which further drops down to 4% beyond the third generation. Most start-ups begin as a family business; therefore pro-moting entrepreneurship is direct-ly linked to promoting family busi-ness. So, let’s introspect the ration-ale behind such a phenomenon.

Family business connection may yield unique advantages in acquisi-tion of resources and self-funding, to some extent. Family ties provide an added advantage in opportu-nity identifi cation because of fam-ily members’ greater willingness to share information with each other. But some unique challenges also come across as a part and parcel of such fi rms. The most prevalent predicaments in family businesses are confl icts and succession (Reli-ance family feud and Ranbaxy fam-ily feud are case in point). In fact, the success of a family business de-pends more on effective manage-ment of the overlap between fam-ily and business than on modus operandi of the business systems.

Transferring the values and business knowledge of the found-ers to future generations becomes more diffi cult as the family grows.

They seem to struggle to keep all the members united and their in-terests should be aligned over the years. It further deteriorates with each passing generation. When families reach the third or fourth generation, their members may barely know each other – making it almost impossible to maintain aligned interests within a large family. Succession is probably the most signifi cant issue a family business has to cope up with. Inter-generational transfer is not a one-time activity but needs to be care-fully planned. Ownership of a fam-ily business is not perceived as a liquid asset but as a property which is nurtured and developed over generations. Moreover, the chal-lenge faced by a fi rm in third gen-eration with larger family size and company size would be much more tedious than the one faced by the fi rms which are in the fi rst genera-tion – run typically by the sole owner. Most importantly, it is not only the ownership but also the knowledge gathered over genera-tions that is at stake.

However, you can bet your boots that the nuisance is not restricted

to only these two challenges. Typi-cally, in the early and start-up stages of the family business, com-pany’s and family’s assets are not legally separated – it complicates the situation further and raises confl icts of priority (between fam-ily and business). For instance, Brent Redstone took his father and sister to court over ownership is-sues. Even Mafatlal's family saw similar family feud.

As and when the business starts growing up, it becomes imperative to attract well-qualifi ed profes-sionals. But, family business fi rms often fi nd it diffi cult to attract good specialists to assume execu-tive positions. Above all, negative perception of the skilled profes-sional over the issue of ‘career pro-gression’ does not help either – as they are perceived as an organiza-tion where non-family member will be at a disadvantage all the time as compared to a family mem-ber (even if the latter is less suited for the job). In fact, family control exhibits specifi c weaknesses when descendants are involved in the top management. Stock market reacts negatively to the appointment of

OWNERSHIP OF A FAMILY BUSINESS IS NOT PERCEIVED AS A LIQUID ASSET BUT AS A

PROPERTY WHICH IS NURTURED AND DEVELOPED OVER

GENERATIONS


family heirs as managers (as per a study conducted by Perez-Gonzal-ez and published in American Eco-nomic Review titled 'Inherited control and fi rm performance'). To top it up, the emotional string at-tached with the family members make it extremely diffi cult to shed human resources that eventually leave negative impacts on the over-all economic performance of the fi rms. The situation just becomes worse for the small fi rms.

Another challenge is fund rais-ing and the associated fi scal bias on whether to rely on equity fi nance or debt fi nance. Moreover, owner-manager of privately held family fi rms tends to be reluctant to in-volve external investors. They might end up selecting a funding option which might not be an op-timal choice as far as the cost of fund is concerned but a fund that would not erode their control over the business. It’s true that family fi rms have very limited access to capital market but then they even consider external equity as the last resort. A report of emerging mar-ket fi rms published by the Citi-group Global Markets (2007) sug-

gests that investors place a 3% valuation premium on fi rms in which family insiders wield sig-nifi cant but not absolute control. On the contrary, investors assign a valuation discount of 5-20% in case of fi rms where families are major-ity owners. One of the characteris-tics of family business is their long-term sustainability – often associ-ated with cautious risk-taking be-haviour which ultimately impacts their fi nancial decision.

On a positive note, Credit Suisse research indicates that family owned companies tend to perform better over the long term and gen-erates superior returns and higher profi tability than their counter-parts. Long-term strategic focus instead of focus on quarterly re-sults is the key to success for the family business fi rms.

The economic landscape of most nations remains dominated by family fi rms. Concentrated owner-ship in the hands of a few wealthy families or individuals is a com-mon feature among listed fi rms in many economies. Proportion of pyramidal or group fi rms (mostly controlled by families) in each market relative to the total listed fi rms stand out to be about 39% in East-Asian market, 19% in Western European Countries and 42% in emerging markets. Large number of family business is a common trend in the countries where ac-quiring funds is a bit diffi cult. Around 28% fi rms in India and 15% in Pakistan belong to a family busi-ness groups – out of which merely about 1/3rd are controlled through pyramids. On the contrary, in countries like Columbia and Sri Lanka pyramid structure is more prevalent – 29% out of 39% and 49% out of 63% respectively. Family business group might control only a few fi rms but often they are very large in size and play a key role in the development of a nation’s economy. For example, only 10% of listed fi rms in Singapore belong to family business groups but they represent 42% of market capitali-zation. In contrast, in developed

market such as US, UK and Japan, the largest family groups own less than 2% of market capitalization. Above all, family fi rms are not only important because of the contri-bution they make to the economy but also because of the long-term stability they bring in along with the commitment they show to lo-cal communities.

In India, families have signifi -cant stake in companies. About 95% of all Indian companies and family fi rms generate the vast ma-jority of national output and em-ployment. Thus, the abysmally low rate of intergenerational transfer is particularly signifi cant. Majority of the fi rms crumble under the nu-merous challenges associated with the family businesses. But then it’s not a completely hard-luck-story – some of the fi rms have success-fully confronted the challenges and have made it big.

CYCBTH interviewed four differ-ent family businesses across indus-tries that defi es the conventional skepticism about family-owned business and have successfully cre-ated leadership-synergy. The four business families presently have diverse portfolios, but are managed jointly by family members and pro-fessionals and have been successful in keeping a common vision. These are those families who have broken the shell of 'doing the business in a traditional way' and have adopted internationally practiced manage-ment styles. If Linc went on roping in international brands then Mad-ison allowed daughters on board, Emami went a step ahead and erased the thin line between friendship and family and PNC cre-ated a never-seen-before husband-wife leadership duo!

ONLY 10% OF LISTED FIRMS IN SINGAPORE BELONG TO FAMILY BUSINESS GROUPS BUT REPRESENT 42% OF MARKET CAPITALIZATION

F A M I L Y B U S I N E S S

Ambani brothers at their AGM, Oct 31, 2002 - before the family feud made them apart

COVER STORY


"WE'VE A COMMON OBJECTIVE TO MAKE LINC NO 1"DEEPAK JALAN AND ALOKE JALAN, MANAGING DIRECTORS OF LINC, IN AN INTERVIEW WITH SRAY AGARWAL AND SAYAN GHOSH AT THEIR KOLKATA OFFICE REVEAL HOW THEY PLAN TO MAKE IT BIG IN THE WRITING INSTRUMENTS MARKET!

Linc is one of the foremost play-ers in writing instrument in-dustry – and one of the few listed companies in the indus-

try. The organization is lead by the siblings’ duo: dynamic and ambitious Deepak Jalan and disciplined Aloke Ja-lan. Deepak Jalan, based out of Kolkata, is an Associate Member of Merchant Chamber of Commerce, Member of the Writing Instrument Manufacturer’s Organization and a Member of Cal-cutta Pen Manufacturers and Dealers Association; while Aloke Jalan has moved to Mumbai from Kolkata to en-hance the organisation’s presence in Western and Southern India. It was Deepak’s vision to rope in mega stars like Shahrukh Khan and Katrina Kaif as brand ambassadors of Linc, a rarity in writing instrument industry. Aloke Jalan – the more conservative of the duo – on the other hand is responsible for domestic sales, product develop-ment & pricing strategy, consistent and constant development of quality and innovations. The dynamic duo in a matter of a decade has taken the brand from an insignifi cant eastern India-centric company to an internationally recognised brand. How long have you been in this business?

Deepak Jalan: This was started by my father 35 years ago. I joined the Linc Pens soon after my graduation in 1985 when I was 19 years old. Aloke Jalan: I joined it after my graduation. I started from handling corporate business and then slowly moved to overall sales.The competition in the writing instruments sector has seen quite a surge. How have you strategised to beat the same?Deepak: In last 15 years the industry has become more organised. To stand out in the crowd we went for some endorsements like Shahrukh Khan and Katrina Kaif. We are also part of a IPL team. Besides, we are keen to increase distribution across the country.Aloke: We decided to go profession-al and started retailing. This gave us a good response and growth oppor-tunities. We set up a proper distri-bution channel to distribute our products to rural areas also. What kind of competition do you face in the market?Deepak: This industry has a low en-try barrier. So far I have not been able to fi nd a concrete solution to tackle the competition. We are al-ways struggling with that. Distribu-tion is the key to success more par-ticularly in our industry. So, we are trying to expand our distribution channel.Aloke: Currently the market is fl ooded with unbranded direct fi ll (use & throw) pens which are eating share of Rs 5/- segment. It’s tough to combat competition in this seg-ment, so we are focusing more on

"WE ARE ONE OF THE TOP BRANDS IN THE MIND OF CON-

SUMER, ESPECIALLY BECAUSE OF SHAHRUKH KHAN, KATRINA KAIF

AND OUR IPL TIE-UPS."

Rs 10/- segments now.How different are you from each other in your leadership style and management outlook?Deepak: I am more extrovert and Aloke is more recessive. Aloke: I am concentrating only on In-dian market whereas Deepak is look-ing for global market. I focus more on BTL promotions and he focuses more on ATL for brand building. In spite of having differences in working styles, how do you main-tain a common objective? Deepak: Fortunately I being the elder brother, get the due respect from him. I have been lucky to sell almost 90% of all my ideas to him be it Shahrukh Khan or be it Kat-rina Kaif. Aloke: We have a common objective to make LINC No 1 player in the writing instruments market. Irre-spective of the difference in working style, our aim remains the same and we work together to achieve it.How do you tackle resistance


"I HAVE NOT BEEN ABLE TO BUILD A VERY STRONG TEAM. I WANT TO SEE A DAY WHEN THE COMPANY RUNS ON ITS OWN EVEN WITHOUT MY HELP"

from team and management? Deepak: Sometimes I put my foot down. It has happened many a times. I like to experiment. One has to keep experimenting and be in-novative to be successful.Aloke: There is a lot of resistance from the team members and some-times it becomes very diffi cult also to convince them.How do you rate the brand Linc in terms of brand awareness and brand recognition? Deepak: Even though Linc is not be-ing overrun – we are among the top 3 brands and I believe that so far awareness and recognition are con-cerned — we are perceived to be much bigger than what our market share refl ects.Aloke: We are one of the top brands in the minds of consumers, because of SRK, Katrina and IPL tie-ups.You have recently tied-up with Mitsubishi writing instruments. Are you planning to rope in more such international brands?

Deepak: We believe that Uniball still has a very long way to go in India, and we have to increase our worldwide market share. We don’t want to lose focus on that. So, we don't have any such plans in mind at the moment. The concept of writing instru-ment has changed and a lot of luxury brands have come into the market. Don't you think Linc should tap this market as well? Deepak: We have a brand called Lamy from Germany. This is one brand which is in the high segment with a price range of Rs 1000 and above. And then we also have a pre-mium brand which is called Cruiser. From this year we are trying to make this brand more prominent. So, we are launching products in the Rs 1000 plus segment. By the end of this year we are planning to have a bouquet of 10 products in the segment of Rs 1000 to Rs 10,000.Which is the most unforgettable moment both of you had with

each other?Deepak: When I called up Katrina Kaif for Uniball advertisement, it was a cakewalk for me to get Aloke’s approval. That is the only thing I can think of where it was very easy to sell the idea.Aloke: [Smiles] When I was against signing SRK.What makes one a perfect busi-ness leader?Deepak: A leader should be capable of building a strong team and should be innovative, and most important-ly - he should be a people’s person. He should be able to build career for others. Unfortunately, I have not been able to build a very strong team. I want to see a day when the company runs on its own even with-out my help. Aloke: People management is one skill a leader must posses.Is it tough for new entrants to enter this industry?Deepak: People who want to enter this industry have to go to the grass root level to understand the indus-try. I have been in this industry for more than 25 years, but still I don't have a clear understanding about the consumers — particularly their buying behavior and the pattern. Aloke: Confi dence and sincerity are two vital qualities an entrepreneur must posses.Whom do you draw inspiration from to move forward in life? Deepak: I have always admired Dhirubhai Ambani. His was a very inspiring journey. And also Emami group for that matter. I have learnt a lot from the way Mr. Agarwal and Mr. Goenka conduct their business operations.Aloke: My father. We have seen him working day and night during our starting period.

L I N C G R O U P

COVER STORY

count your chickens before they hatch 26 october 2011r 2011

Leading communication com-pany Madison is a one stop so-lution for all your advertising and communication needs. The

company is headed by veteran Ad. maker Sam Balsara who is the Chair-man and Managing Director of Madison World, and his daughter Lara Balsara. Having biggest names like Coca Cola, Godrej, Airtel, Procter & Gamble in their client list, this company has been amongst the most infl uential and pow-erful advertising companies in the country. After completing graduation in economics from St. Xavier’s College in Mumbai, the young and enthusiastic Lara has joined the company fi ve years back. She is a blend mixture of a shrewd and incisive businesswoman. Her ap-proach has taken the company ahead multifold. In all, she has the passion to make a mark for herself.Madison started in 1988 with Go-drej and Nelco accounts and within a span of 23 years it has become the pioneer among the Communications Industries. How has the journey been so far?Sam Balsara: The limited success that we have achieved today is be-cause of our strong value system of putting our client’s interest ahead of our own interest, capitalizing on

"2010 WAS A FRUITFUL YEAR FOR MADISON. WE WON THE COVETED

ITC MEDIA AOR THAT SPANS 13 CATEGORIES FROM PERSONAL

CARE TO HOTELS TO FOOD"

opportunities and most important of all being patient and not just chasing growth.Lara Balsara: It has been fantastic, with lots of highs and some lows. Overall, it has also been a huge learning experience.Last year Madison grabbed an ac-count of GM worth Rs 100 crores. How far has the company moved since then? Did the deal mark a stepping stone in the success of the company?Lara: 2010 was a fruitful year for Madison. We won the coveted ITC media AOR that spans 13 categories from personal care to hotels to ap-parel to food. That was our largest win. We set up a 40 member team in Bangalore and Kolkata to service the account.Sam: We also retained the GM and Airtel account in a multi-agency pitches (we have been handling the Airtel Media AOR since 2003 and GM media AOR since 2005).What are the changes you brought in the companies?Sam: My focus has been on organi-zation building and conceptualiz-ing Madison World as a concept that holds all Madison companies together to a common vision and value system.Lara: Human resource is the most important for the growth of any company and we have realized it at nascent stages. That’s why I have introduced Stock Partnership Scheme to attract and retain talent within the group.Yours is a more informal kind of an organisation. What kind of corporate and work culture do

you follow?Sam: Our style is open door, infor-mal and has enough room for indi-vidual initiative as long as our peo-ple deliver to our clients’ objectives. Lara is focused internally and I am externally focused.Lara: We try to build a very open and friendly work culture and en-courage Madisonites to come up and give their suggestions.How do you make sure that in spite of being different individu-als, you both strive towards a common goal?Sam: We are both aligned on a com-mon vision for Madison World. So whilst there may be differences in the tactical plans or routes to fol-low from time to time, we both know what we are striving for.Lara: We settle them based on what is best for a given situation. My dad has strong views based on his past experience, but is fortu-nately open to change and not dogmatic.How do you fi nd each other as colleague? Which has been the most cher-ished moment?Lara: The fi rst time I proved him wrong! As a colleague, Sam has tremen-

"WE ARE NOT AGGRESSIVE ABOUTOUR INTERNATIONAL OPERATIONS"IN AN EXCLUSIVE INTERACTION WITH SRAY AGARWAL, SAM BALSARA - CMD, AND LARA BALSARA - BUSINESS DEVELOPMENT MANAGER OF MADISON WORLD GETS CANDID AND TALK ABOUT THEIR STRATEGIES AND INTERNATIONAL EXPANSION PLANS!

count your chickens before they hatch 27 october 2011ns before they hat

"MEDIA IS CONTINUOUSLY EVOLVING WITH TIME AND THE PACE OF CHANGE IS VERY FAST. A DECADE AGO THINGS WERE TOTALLY DIFFERENT"dous energy and can work really long hours. He is determined and never gives up things easily. Right in the beginning, my dad wrote down a vision and value system. He also has some fundamental operat-ing systems which he follows unwa-veringly. But he is little impatient at times.Sam: The fi rst time she proved me wrong! I must admit that Lara is

mature beyond her years and can take a hard, cold, emotion less decision in the interest of the job at hand. Lara has taught

me the importance of focus and prevented from making mistakes

by going into too many diverse things. I feel she can be more cor-porative at such times. You recently had a Joint Venture with Beattie McGuinness Bun-

gay (BMB)? Any such fu-ture plans in pipeline.Sam: For some reasons, Madison is known more for its media than creative

service; so we feel that we have not been able to achieve what we hoped to. We felt tying up with another partners who have strong creative reputation would help us. So, we partnered with BMB, a UK-based creative ad agency founded by internationally renowned Trevor Beattie. BMB India is a 50-50 joint venture (JV) with BMB and Madison World.Madison seems to be going glo-bal [with JV in Sri Lanka and Thailand]. How do you plan to

bring a paradigm shift in your modus operandi?Lara: We are not aggressive about

our international operations and feel that we are living in times where India is the toast of the world. We get into JV abroad only when we fi nd a right partner. We started Madison Media Sri Lanka as a JV with an independent local media company — Media Factory. In Thai-land, we have a JV for Events, Exhi-bitions and Artiste promotions.How has increase in digital me-dia changed the entire media in-dustry? How do you plan to in-crease your presence in the same and are you planning to increase spending on digital services?Sam: Digital media as a marketing medium is growing every single day. When any media plan is made, digital is always included in that plan. We have a team of specialist digital people who help our media planners plan for digital, at the same time we are trying to get all our off line planners to understand the medium by having workshops.Did you feel a change in the way media industry works, since last one decade? Sam: Media is continuously evolv-ing with time and the pace of change is really very fast. A decade ago things were totally different and therefore we need to continu-ously change our business strate-gies and thus we can’t be very rigid in our approach.Madison's strengths...Lara: We believe in having a few but satisfi ed clients. Our aim is that each client gets a dedicated team servicing them and it seems to have worked well over the years. So our strength is our clients.

M A D I S O N W O R L D

COVER STORY


PRITISH NANDY - CHAIRMAN, PNC AND RINA PRITISH NANDY - DIRECTOR, PNC EXPLAIN TO SAYAN GHOSH, WHY THE ENTERTAINMENT AND MEDIA INDUSTRY IS NO LONGER THE SAME

"FOUNDERS CREATE A COMPANY. OTHERSTRANSFORM IT"

Pritish Nandy’s journey as an en-trepreneur started in September 1993, when he along with his wife Mrs. Rina Pritish Nandy

incorporated the coveted Pritish Nandy Communications (PNC). PNC has received largesse of awards, not only in India, but internationally as well. Always striving for creativity par excellence, he got his wife Rina Nandy along with him, to work shoulder to shoulder to form this marve-lous organization. Today Rina Nandy looks after the wellness operations along with other directors and Pritish Nandy provides the creative inputs.What kind of transition has the industry seen over the years?Pritish Nandy: The fundamental change in the entertainment busi-ness is that we are increasingly ad-dressing a larger and larger audi-ence every year, which is redefi ning the very nature of the content being produced. Excellence is constantly under pressure and popularity in-variably means addressing the larg-er taste. The best movies we make in India rarely get rewarded by the box offi ce and what the box offi ce rewards are not always a stuff that would win an award. What measures are you taking to make the company as the leading brand of India?Rina Nandy: PNC believes in excel-lence. That is what defi nes our work, our brand. Pritish: Maybe it’s not where every-body else wants to be. But that’s fi ne with us. I think quality is what sep-

arates the men from the boys in every business. Being the founder-chairman, how have you divided the responsi-bilities among family members?Pritish: Rina oversees wellness op-erations which are run by a group of excellent professionals. Pallab Bhattacharya, our CEO, Rangita and Ishita, my daughters, and the Cor-porate Leadership Team at PNC are perfectly capable of looking after the movie business on their own. I only provide creative ideas and show directions. How does the stiff competition affecting the market of PNC?Pritish: There’s lots of competition in the business, lots of rivalry. But that’s fi ne. It helps us to hone our skills and expertise, and to stay ahead of the rest. Rina: In any case, our fi lms are dif-ferent; so are our aspirations and our expectations from the business. What transformation did the company went through under your leadership?Rina: It is too young a Company for any transformation. Founders create a company. Others transform it.What marked the turning point of the company?Pritish: I think the decision to move away from TV to movies was crucial and taken at the right time.Have presence of each other eased the way you lead the company? Pritish: Of course Rina’s presence has helped. She has a quiet, sooth-ing presence that certainly matters in the hysteric melee of the creativ-ity business. As for 2 and 2, in my world make 22.What are your upcoming projects?Rina: We are in the process of fi n-ishing four small but remarkable fi lms. We have also scripted and are ready to go on the fl oor with four new and bigger fi lms. Pritish: These are all typically PNC fi lms. We are making sequels to four of our best known fi lms: Kaante, Pyar Ke Side Effects, Jhankaar Beats and Chameli. Even Hazaaron Khwaishein Aisi may have a sequel. While Ek Khi-ladi Ek Haseena is being animated by a US Company.

"I THINK THE DECISION TO MOVE AWAY FROM TV TO MOVIES WAS

CRUCIAL AND TAKEN AT THE RIGHT TIME"


“WE NEVER HAD ANY STRIKE, ANY LOCKOUT..."IN AN EXCLUSIVE INTERVIEW WITH SRAY AGARWAL AND SAYAN GHOSH, R S AGARWAL AND R S GOENKA, JOINT CHAIRMAN - EMAMI GROUP, TALK ABOUT THE PAST, THE PRESENT AND THE FUTURE OF EMAMI GROUP

Way back in mid seventies, two childhood friends left their high profi le jobs to chase their dream

of forming a company. Today, it is the country’s leading medicine and cos-metic brand. The Emami group is a classic tale of everlasting friendship between Mr. R.S. Agarwal and Mr. R.S. Goenka and their respective families. These two childhood friends, after completing their school and college joined the same company (Birla group of Companies). Both of them reached respectable position in that company – but they were not satisfi ed with it– as their inherent entrepreneurship in-stincts were enthusing them for spawning more! This was the time when the genesis of Emami actually cropped and eventually their dream destiny unfolded with the forming of the company in 1975. The rest was suc-cess, growth, accolades, recognitions and rewards. The time you started the com-pany, the situation in Bengal was quite disturbing. There were companies who were going out of the state. What motivated you to start your venture in Bengal?R.S. Agarwal: I am born and brought up in Kolkata and we were quite young at that time, so there was no question of moving out. It was quite convenient to reside in Kolkata where we had been living before. Bengalis are quite emotional, they wouldn’t cause losses to him. That is why in last 40 years we never had

any strike, lockout, or demonstra-tions in any of the factories. So much so that there has not been a single case of 'employee retrench-ment' till date. R.S. Goenka: Our schooling was in Kolkata. And our parents used to live in Kolkata only. So, we had no other choice but to start in West Bengal. Moreover, Mr. Agarwal had a wholesale store in the city. So, we thought of starting the business there only.When we talk about family run business, research says it does not run for more than 3-4 generations. How do you plan to avoid any

probable family feuds?R.S. Agarwal: I have bought many books from abroad and have stud-ied them very carefully, then I have put many experts on the job too, like Barkley, Anand Rathi et al. So, I don’t fear that. We also conduct ‘family council meeting’. So, there is a lot of mandatory, obligatory and recommendatory rules made by us.R.S. Goenka: It is very diffi cult to speculate what will happen after 3-4 generations. But till now, the rela-tionship with the second generation or even third generation seems to be quite alright. So, we don’t foresee

any kind of problem with second or third generation.Amidst all the new initiatives that Ema-mi Group have taken in recent times, which one do you think has enhanced the brand equity?R.S. Agarwal: The edi-ble oil venture and the Palm plantation in South Asia. Today, it is one of the leading brands with sales of around Rs 3,500 crores. My daughter is taking care of the R&D de-partment. R.S. Goenka: It is the introduction of our Fair & Handsome team. When we

launched the product, nobody was present in that segment. What are the future plans for Emami Group?R.S. Agarwal: We have big plans re-garding edible oil, paper, FMCG. We have also plans for realty. In realty, we are the biggest player in the eastern part of India.R.S. Goenka: We are planning for major expansions and diversifi ca-tions. We are foraying into hospital business in another two years. Then, we are expanding our paper mills to the tune of Rs 1,500 crores. We are also setting up a cement plant in Raipur (Chhattishgarh).

E M A M I G R O U P

COVER STORY


FIVE DIRECTORS OF EMAMI GROUP IN A DISCUSSION WITH SRAY AGARWAL AND SAYAN GHOSH, SHARE HOW THEY ARE TRYING TO CREATE A SYNERGY THAT WOULD DRIVE THE COMPANY TO A NEW ZENITH

T he friendship of Mr. Agarwal and Mr. Goenka is an example for the generations to come. But what is more admirable is that

the legacy has been passed on to the next generation most prudently. Mr. Agarw-al’s family and Mr. Goenka’s family have grown up together, their kids went to the same school and college; and were liter-ally born to be together. Both of them have emphasized that the two families in real sense are not ‘two’ but ‘one’. And so it is – as it was evident from their answers – they fl ock together – their opinions bor-der around same objectives, same views, same mind-set, and same style. However, the drawback to this amazing common-ality is that it will be devoid of debate and it will minimize the opportunity of brain-storming; with no chance of postmortem of major decisions.How does it feel to be a part of such a big conglomerate?Manish Goenka: I have been part of the growth of the group from a long time. After class XII, I started com-ing to the offi ce on regular basis. That time, the company’s turnover was around Rs 25 crores. The values I inherited from my father and un-cle keep me grounded all the time. Harsh Agarwal: I started working in

the company from college days and today its more than 15 years.Prashant Goenka: There is learning from these very dynamic profes-sionals. Even if you get a few per-centages of them, you would think yourself extremely lucky.Priti Sureka: Today, Emami is a very venerable group. It enjoys lot of trust from not only domestic sector but internationally too.Mohan Goenka: I feel honored, I feel great. At the same time it becomes a great responsibility.How is it working with the other directors?Manish: We had similar feelings from the very onset. Like Aditya and me – we are given assignments to-gether, always. Harsh: During discussions or at work, there might be difference of opinion. It gives us an opportunity to get with each other and under-stand each other’s perspective.Prashant: We are the second gen-eration in the organization. It is eleven of us. Closely working with each other is very important and working with each other doesn’t mean that you are not taking your or mine chair, it’s how much we can compliment each other.Priti: One may have arguments, one may have difference in views, but at the end of the day there is no fric-tion among us.Mohan: It's a great motivation to work with likeminded people. There is competition among us too that help us in enhancing our overall performance. Having said that there is no bickering among us, it’s a

"WE ARE AN INDIAN MULTINATIONAL COMPANY, BUT

COMPLETELY A LOCAL COMPANY WHEREVER WE GO. WE HAVE DIFFERENT STRATEGIES FOR

DIFFERENT MARKETS"

healthy competition.What are your international ex-pansion plans for edible oil?Manish: It is a diversifi ed group. We took over edible oil only three years back. But now we are very aggres-sive in edible oil business. The way we are going, we can achieve the goal of being one among the top 3 players in the country in next 5 years. Internationally, edible oil is a very volatile market. Therefore, backward integration in this prod-uct category is our top most prior-ity. The biggest palm growing coun-tries are Malaysia and Indonesia. So, in either of these countries we have plans to invest heavily on palm cultivation.The company has also ventured in an underdeveloped continent like Africa. How promising is the market there?Prashant: If we see the entire emerging markets in the world, we will fi nd that most of them are de-veloping or under-developed coun-

"THERE IS NOBICKERING AMONG US..."


tries. You cannot ignore the popula-tion and the huge consumer base. We are going to Africa, because the multinationals are weak over there, it’s a very open market, quite simi-lar with India. We are entering ag-gressively in markets like South Africa, Brazil, Indonesia, Turkey et al. So, Africa is not the only markets we are eyeing for, but it’s the most important one.How is the multi-plant stem cell technology adding value to the Emami group?Priti: Our R&D team always wanted to have this technology with us, be-cause we believe that by enhancing the way of delivery and effective-ness it will add a lot of values to our product offerings. Since Indian market is quite di-verse. How far do you customize your products so as to suit the lo-cal preference?Harsh: We are mainly into health-care and personal care products. What we have learnt over the years,

in both these category is that there is not much of a difference in taste among various regions. There might be some preferences in terms of perfumes; there can be some differ-ences due to weather conditions…et al. That can be taken care of by having variance for that market. So, in many of the regional markets, we use celebrities to promote our prod-ucts. The language is another factor – brand messages are generally written in local languagesPrashant: Our products are com-pletely customized. We are an In-dian multinational company, but completely a local company wher-ever we go. We have different strat-egies for different markets. It is completely localized.Priti: Communication has been built upon in a way to tap the emotion of a particular segment. Like when we go to Southern states, we take celeb-rity from there; similarly for Bengal we have Rituparna Sengupta; and Shahrukh Khan for pan India. Apart

from celebrities, the activities which we do are regional too. One decision of other directors you think is the cornerstone of success for the company?Harsh: Aditya Agarwal and Manish Goenka are looking after edible oil business. They have started from scratch, and now on we are on the right track. Priti: It is the takeover of Zandu, which was the major factor for Ema-mi’s success. It further added to our position as a major FMCG player. My dad and other directors took this decision which turned out to be a successful one. There must be a decent share of generation gap between you and Mr. Goenka and Mr. Agarwal. How do you try to bridge that?Manish: They have changed them-selves with time like anything. Whenever we travel abroad, they ask us to look for the latest product categories that have been intro-duced in the market. They are more modern than us.Harsh: At times there might be some difference of opinion, but cer-tainly not generation gap. Priti: Mr. Agarwal and Mr. Goenka are the most progressive generation that I have ever seen. But if there are issues where the young genera-tion feel otherwise with the Chair-men, the view is put across and then sorted out.What is your leadership style?Manish: I give a lot of freedom to my men. Everyone makes mistakes, and I am not afraid of mistakes from my men. That is why our staff is very comfortable with us.Harsh: I like to delegate work. I also participate in it. Prashant: I believe in empowering people. Only then, they can do a great job. That is the most impor-tant thing. That’s the reason we are growing over time.Priti: My leadership style is mixed. It is quite participative and delegat-ed at the same time.Mohan: I trust my people. I delegate work. But once I am convinced, I take decision very quickly and in-stantly.

E M A M I G R O U P

Left to Right: Prashant Goenka, Harsh Agarwal, Priti Sureka, Aditya Agarwal, Manish Goenka and Mohan Goenka


INFOGRAPHICS

BEYOND NUMBERS

NET WORTH OF SENSEX LISTED FAMILY AND NON-FAMILY RUN BUSINESSES

NET WORTH OF NIFTY LISTED COMPANIES

HOW INDIAN FAMILY OWNED FIRMS HAVE FARED AS COMPARED TO THEIR COUNTERPARTS WITH FRAGMENTED SHAREHOLDING STRUCTURE IN DIFFERENT PARAMETERS RANGING FROM SIZE OF THE FIRM, PROFITABILITY AND REMUNERATION? MRINMOY DEY AND AMIR HOSSAIN

34%66%

Out of all companies listed in Sensex, around 34% are family owned business and have a collec-tive net worth of Rs 2,95,704.32 crores. Despite the number of com-panies being a meagre 8 (out of a to-tal 30), the total net worth of family owned fi rms is one-third of the total net worth of all the listed fi rms. This proves that resorting to external eq-uity fi nancing becomes essential only when they grow substantially.

Similar trend is seen for NIFTY too. Out of 50 companies listed in NIFTY, around 33% are family owned business and have a collective net worth of Rs 3,89,978.89 crores. Though number of family owned business is only 13 (out of a total 50) still capture one-third of total net worth of Nifty listed companies. Around 95% of fi rms in India are fami-ly owned but the number of family fi rms consid-erably drops down to almost around 34% in both the BSE and NSE. This is a testimony to the fact that family owned businesses struggle to attract external equity investors and they are unwilling to adopt a funding model that erodes their own-ership rights.

Source: Capitaline, IIPM Think Tank Research


2957

04.3

2

5743

96.78

33% 67%

Non Family

(Rs. in crore)

Family

FamilyNon-Family

Family Non-Family

(Rs. in crore)

Non-FamilyFamily

3899

78.8

9

7834

81.3

3


F A M I L Y B U S I N E S S

NUMBER OF EXECUTIVES FOR SALARIES IN CRORES IN INDIA

SURVIVAL RATE OF FAMILY BUSINESS IN INDIA AND US

COMPARATIVE ROCE OF FAMILY AND NON-FAMILY BASED FIRMS

PROPORTIONATES OF EXECUTIVES FOR SALARIES IN CRORES IN INDIA IN 2009-10

15%

85%

It may be perceived that MNCs provide the highest compensation to their executives but in reality it's the family run corporate houses who lead the tally with huge margin when it comes to paying salaries in crores. The above charts reveal that more than 85% executives who are paid annual remuneration of at least Rs 1 crore in India, are those who are working in a company controlled by family. The re-maining 15% executives are working in companies run by non-family entities such as institutions and trusts including MNCs and PSUs. In actual terms, there are 411 out of 443 executives (who received more than Rs 1 crore salary) working in a family promoted business. In 2009-10, non-family based companies have paid annual remuneration of more than Rs 1 crore to only 41 out of 265 executives.

Confl icts among family members in family run busi-nesses are very familiar not only in India but all over the world. The comparative study between In-dia and the USA over survival rate of family business only proves the fact. In India only 4% businesses are succeeded beyond 3rd generation, only 14% beyond 2nd generation and 33% beyond 1st generation. It means around 49% businesses get shut down in the fi rst generation itself. USA also follows almost simi-lar trend. This only shows how important succession planning is in order to survive.

Return on Capital Employed (ROCE) is a ratio that indicates the effi ciency and profi tability of a compa-ny's capital investments. Considering ROCE as an In-dicator, we have compared the performances of family controlled and non-family promoted compa-nies listed in Sensex. We can see that family run businesses have over-performed the non-family based business fi rms during 2007-11 except 2009. It only reiterates the fact family ownership add value to its stakeholders.


Source: IIPM Think Tank Research


Non Family Family

1st 2nd 3rd Beyond 3rd

IndiaUSA224

2009-10 2008-2009

411

32 42

FamilyNon-Family

FamilyNon-Family

2011 2010 2009 2008 2007

Across generations


ulal took able care of the operations... But of late the mojo is wearing off.MURTHY, THE MAVENThe collective effort of the founders has helped propel the company. They have got a shot at the CEO position with only a 16% control over company’s outstanding shares. Having said that, indubitably Murthy has always been the supremo, the soul of the company. He has been the main driving force. An admirer of JRD Tata, Bill Gates, and Hewlett and Packard himself, he has been an iconic fi gure leading a very normal middle class life. De-spite being worth several thousand crores of rupees he follows an egalitarian workstyle, remains accessible to the lowliest employee, and has run the organization with

LOOKING BEYOND THE HALO

HOW AN ORGANIZATION CAN REACH ITS MAXIMUM POTENTIAL AND WHAT ROLES DO THE TEAM MEMBERS

PLAY? HOW DID INFOSYS UNDER THE LEADERSHIP OF N R NARAYANA MURTHY, REACH ITS ZENITH?

K K SRIVASTAVAAdvisor, IIPM Business Press

Sometime back during the proceedings of a Lead-ership Summit organized by a Delhi based media house, the southern superhero Rajinikant was holding the centre stage. Someone from the

audience asked him the inevitable: “Who is the great-est?” Without blinking an eyelid the reply was, Am-itabh Bachchan. Gets up the Badshah of Bollywood, SRK, asks as to what does it takes to occupy the exalted posi-tion of Shahenshah. Perhaps the same question needs to be asked of the much venerated Infosys: How does it reach the maximum of its potential?

The company was established in the 1981 with a seed capital of only Rs. 10,000. Now its revenues have grown to Rs. 27,000 crore. In 1999 it became the fi rst Indian company to be listed on NASDAQ. The campus now spreads over 81 acres. Infosys and its 7 founders have represented the spirit of India’s transformation in the post-liberalisation era. Its success did not owe anything to the government, it competed with the best across the globe and won, it shared wealth among its employees and shareholders, and it has set benchmarks for corpo-rate governance and disclosure norms.

Competitors meanwhile have not sat idle nor the en-vironment is anymore benign. Earlier TCS was consid-ered a stodgy foe while Infosys was cool; visiting heads of states put Infosys campus on their itinerary. So Info-sys acted like the bellweather for the entire industry. But now a new TCS is trying to take over under the leadership of N. Chandrasekharan. On the other hand Cognizant is baring its fangs to unseat Infosys from sec-ond position. And to add to the woes issues like slowing US and European economies, volatility in the rupee, severe competition, rising wages, high staff turnover, and management shake ups have been hampering growth. The company narrowly missed expectations in its fi rst quarter profi ts, 2011-12.

Part of the reason for Infosys success over the last three decades have been the complementing roles that the team members had been playing. Murthy was the brilliant strategist and Nandan is a networker, Phaneesh was the star salesman while Gopalakrishnan and Shib-

LEADERSHIP STYLES


a certain value system. Primarily it was Murthy’s vision and business sense that has enabled the company reach where it is. Not only during good times, Murthy has been able to hold the company together during times of crisis as well, such as when the IPO almost devolved, Phaneesh Murthy had to be let go, Nandan had to be promoted ahead of Kris, or when the company faced the dotcom crash. His tenacity, hard work and extraordinary calibre have steered the company to the second position in the ranking of largest IT service exporters.

He has been able to build an organization where every employee seems to have unconditional trust in top management. Everyone is suffused with a quiet pride in the company and its achievements. It has fol-lowed the credo of doing the right things the right way. And Murthy has been the visible and most prominent representation of this principle. His early leftist belief coupled with a deep rooted Indian business tradition where workers are treated as part of the extended fam-ily has ensured that Infosys does not sack people nor do they leave it early.MURTHY BELIEVES IN• Leading by example• Ethical and legal dealings• Open and honest communication• Constant learning• Contextualising the issuesMURTHY, THE MEDIOCREBut we have a different- somewhat controversial- hypoth-esis to offer. It is on account of Murthy’s presence that the Badshah has not morphed into the Shahenshah. Murthy

has been a catalyst, but in moderation. Let’s rest our case.While in the early years he took enormous risks, as

soon as he stepped down as CEO the company stopped taking risks. Perhaps Murthy felt that it had become so successful that it had hit upon a recipe that could not be perfected any further. Or, maybe he felt that others who came after him did not have quite the same ap-petite for risk; so he discouraged them from doing so. For the matter of fact, Steve Jobs always dreamt of lead-ing the industry through innovation and design. Infosys on the other hand started primarily as an outsourcing company doing application development and mainte-nance. It relied on Indian frugality. While Jobs was in a hurry for just about any venture he undertook, taking large and risky bets, Infosys has always been rather cir-cumspect, trying to ensure with every bet that it does not fail. It has never believed in aggressive growth, fo-cusing rather on profi t margins.

It has never been aggressive, following in the foot-

steps of Murthy, always fi ghting shy of inorganic growth. For most part of its existence Infosys has re-mained a generic delivery outfi t, but where the scope to increase price is rather limited. Cost is a non issue only for a client when a vendor justifi es higher charges through unique value addition to client’s business.

Infosys in fact has always been predictable about how it sets its business targets and delivers profi ts. A very small part of the revenue (8%) comes from products and platforms. Always being very slow and brooding, its global delivery model took 6-7 years to get there. The application development and maintenance component took 11 years to come down to 30% from 90%. During 1981-2008 Infosys did not fi le a single patentWHAT IS MISSING IN LEADERSHIPAmbition: No ambition to be the best in the worldAggression: No desire to change the rules of the game, or the game itselfCharisma: Leadership by example, but no inspirational visionCreativity: No disruptive innovationsDrive: Rational and reasonable goals, but not highly stretchable targets

One dare say therefore that Murthy led Infosys by transposing his own style on to the enterprise. Which meant lack of ambition, softness of style, absence of ag-gression and creativity. Remember, TCS is number one, Cognizant is fast catching, and IBM and Accenture are ever keen to snipe at the heels of Indian players.

INFOSYS STARTED PRIMARILY AS AN OUTSOURCING COMPANY DOING APPLICATION DEVELOPMENT AND MAINTENANCE. IT RELIED ON FRUGALITY

Murthy in a session on “Co-creating India @ 75” on October 30, 2010 at New Delhi

K K S R I VA S T A VA


THE CRYSTAL QUEENSHARING HER EXPERIENCES IN AN EXCLUSIVE INTERACTION WITH ANGSHUMAN PAUL, SUKANYA DUTTA ROY TALKS ABOUT HER BUSINESS CHALLENGES AND GAME PLANS WITH SWAROVSKI AND ALSO EXPLAINS WHY THIS COUNTRY HASN’T SEEN MANY SUCCESSFUL WOMEN LEADERS!

Ever since her inception as Director of Consumer Goods Business (CGB) of Austria-based crystal giant Swarovski, there has been no looking back for her. The lady with fi rm determination and strength, Sukanya

Dutta Roy has a distinguished leadership strategy and is all set to glitter brightly.

Roy took over the company’s operations in 2008 and since then the brand never had to shut down any stores. With 23 stores in India, the company has been growing at 25 percent per annum. Swarovski is one of the very few luxury brands in India where almost all the stores are profi table. Unlike other luxury brands, this fanatically fl amboyant lady does not be-lieve in expanding aggressively and deliberately avoids open-

ing stores in luxury malls. Prior to her appointment at Swarovski, she was associated with well-known retail fi rms and brands in India, and has credit of opening more than 20 retail stores till date.Ever since you joined Swarovski you have been roll-ing out 10 stores on an average per year and yet you claim that you don't believe in aggressive expansion. So how would you like to explain your retail expan-sion strategy?I deliberately avoided opening outlets in luxury malls like DLF Emporio because the rents are very high and putting the brand over there means closing the oppor-tunity for upper middle class. Jewellery has emerged as

LEADING LADIES


the cash fl ow for the group and to enhance this cash fl ow more, we have forayed into men’s jewellery also. And to cater to this group of target audience we needed to have presence in places where men come for shop-ping, so we started expanding our stores more.Swarovski recently forayed into glares and perfumes. So with a diversifi ed portfolio comes stiff competition; how you have strategized to manage these challenge?Till now, we have been more into jewelleries. We have

diversifi ed only to widen our customer base across all groups and ages. Addition-ally, all of our boutiques are dealer led and dealer takes care about the right market-ing of the product. Then I also think the legacy & expertise of the brand is strong enough, today there’s no other branded crystal product in the market apart from Swarovski. Our brand equity is strong enough to manage competition. And then unlike our competitors we have never be-lieved on niche marketing and kept our products available for a wider group of customers.The Indian luxury market is evincing a constant retail change in the post-slow-down era and luxury brands like Tag Heuer, Hugo Boss and several of their ilk are saying no to Exclusive Branded Out-lets (EBO) and rather opting the Multi branded Outlet (MBO) route. Strangely we have never seen Swarovski’s pres-ence in MBO. Why so?The aura that a boutique can create would never be available in MBOs and then wherever we fi nd our product has big competition, we do make such product available in MBOs also. For instance, our watches are available wherever other luxury brands are selling their watches. Then we are planning to expand our pres-ence in cities like Ludhiana and Chandi-garh and we have an extensive expansion plan of opening 60 stores by 2015. If we fi nd that we are not able to open EBOs in

tier II cities we would try out an MBO route with brands like Shoppers Stop.Why only through Shoppers Stop?It’s not any exclusive strategic tie up, it’s just that we want our presence there and Shopper’s Stop is the only branded lifestyle retailing chain in India which can match with the brand value of Swarovski. If you see Swarovski's presence in other 120 countries, you will fi nd that the group has tied up with certain exclusive retailers so it's a part of global strategy to tie up with other retailers. And out of all these countries, India's position stands in a very nascent stage as the country’s contribution to the global turnover is just 3%.

"TO IMPLEMENT LEARNING CULTURE, YOU NEED TO TRUST YOUR PEOPLE. TRUSTING & TRANSPARENCY ARE TWO ESSENTIAL ELEMENTS OF A GOOD LEADERSHIP STYLE"

What are the essential leadership traits and how do you embed those qualities in your organization keeping in mind its corporate culture? I strongly believe in learning from my mistakes and that's what sets the foundation stone of my leadership style. I learned during my job that practical knowledge can be obtained only when you involve yourself in a job, so as a leader you should always encourage learning and make people learn from their mistakes. To implement such learning culture, you need to trust your people. Trusting & transparency are two essential elements of a good leadership style.What is your perspective on managing professional and personal life that remains comparatively a big-ger challenge for corporate women leader compared to male leaders?My husband and son have been very adjusting. I think they are used to this lady who goes out for work at weird hours. But not all corporate women are blessed with such a family and then whatever we debate on it's still expected that a working woman will give more time for a family than a male member. Whenever I get time my priority is always my family; but often when such pri-

orities become expectation — it becomes diffi cult to manage. I think Indian corporate women sacrifi ces a lot for their success.Indra Nooyi, Chairman and Chief Executive Offi cer of PepsiCo, was once quoted saying that when it comes to Emotional Quotient, women are better leader than men? What’s your take on that?I think that a woman leader is always willing to accept her mistakes and apologize to her team. However, such apology is less likely to be expected from a male leader. And I think accepting your mistake is also a form of acknowledging which is an integral part of emotional quotient. Then a successful corporate woman can also be a good mother but baring exceptional cases, success-ful corporate men may not necessarily will be a good father or a family person.Why do you think India has seen only good woman corporate leaders and why not woman leaders?I think we have seen lots of woman leaders like Indira Gandhi, Sheila Dixit - to name a few - but certainly these leaders are more limited to political and corporate world. Socially, we have not seen them much as still we have lots of male dominance and the women in their respective fi eld are not given a chance. The situation is worse in rural India.

S U K A N Y A D U T T A R O Y


FLIP SIDE

"I GET MOTIVATED FROM THE THINGS I DO…"A FIRM BELIEVER OF CREATIVITY AND EMPOWERMENT, THE CHEF, WILLI HAUETER, IS OF THE OPINION THAT THESE ARE THE TWO ICONIC PILLARS OF SUCCESS IN ANY INDUSTRY OR PROFESSION, IN TALKS TO ANGSHUMAN PAUL


W I L L I H A U E T E R

Super chef for the last three decades — Chef Willi Hau-eter is someone who is always motivated by everything he cooks. Willi’s odyssey started in New York with lead-ing hotel brands like Hyatt, Marriott and recently, he

took on the position of an Executive Chef in The Imperial Hotel in New Delhi. He is Swiss by birth, brought up in USA and has spent majority of his work life in Asia. So, he is the one from whom we can expect all spices under one roof.

No wonder he’s is so artistic and considers cooking as a big art. But culinary affair is not the only thing that makes this kitchen guru an excellent person, his excellence and elegancy is extended even to an entrepreneurship vision. In an exclusive chat with ‘Count Your Chickens Before They Hatch’, he di-vulges the recipe of his success and shares his views on the importance of learning to click in any vocation.More than a profession, cooking is an art. What you like the most about this art?I would say that it is one of the few luckiest professions where you get to meet people from different cultures. Meeting people across the globe enhances one as a hu-man being. Being a chef, it involves remaining creative throughout the life as cooking is a big art and remaining artistic is the greatest achievement of human birth. I make food; so each day is a call for a new art.It’s just been a month that you have joined this ho-tel, how have been this short journey?The journey so far has been full of learning but at the same time it was very hectic too. We have recently started a new grocery culture which we thought would be a comfortable issue but changing the entire grocery culture also involves the supply chain; so it was not that easy. Then, from August onwards majority of tourists start visiting the city. So preparing for this season will surely involve many exciting activities for all hoteliers and we are no exception.Choosing a hotel always has been a tedious task among customers and also involves a lot of research. But how much importance a customer gives to the restaurant of a hotel?All this I believe entirely rests on the kind of consum-er. If you talk about a business traveller who might be looking at the convenience of the hotel but on the other hand a leisure traveller looks at the hotel from perspective of several things and restaurant is one of them. There are instances where places of tourist inter-est like Agra will have hotel which has emerged spe-cially for their ambience and cuisine, so cuisine and restaurant are an important part for a tourist to take a decision about hotel.There are jobs in which experience draws more success and on the other hand, in certain jobs like advertising it’s the young mind which is more creative. In which school do you think chef and cooking falls?Experience matters a lot and especially if such experi-ence comprises working in different culture then that defi nitely helps in becoming a veteran chef. Creativity is also equally important but only creativity doesn’t help in cooking, it has to be supported by hard-work

and when you are working in a multi-cuisine hotel in that case it’s a big time managerial activity. So being young or old doesn’t matter, creativity has to be sup-ported by your spirit of working in a team and that’s what is required in this career of cooking.After spearheading so many leading hotel brands for more than three decades, what according to you are successful traits for any career?In the fi rst fi ve years of your career you need to learn and follow your seniors. This is the period when you actually should not expect job-content but more of as the foundation stone for your future. Such learning cre-ates a world-class environment for your future career and to be successful you need to continue enhance such environment through continuous learning. When I worked in an Italian restaurant at the early phase of my career, I never thought that the learning from there would ever help me in Asian countries. Everybody wants to be successful but very few want to learn.Do you think such learning abilities are enough to click in your profession and what recommendations would you like to give to the beginners?I have worked in USA for more than four years and as a beginner, I have realized from this country that the quest to learn is not enough to be a successful chef. You need to take challenges, I have been opening chef in many organizations; like Renaissance Hotel in Sao Pau-lo Brazil where the challenge was to establish the brand and the brand-cuisine matrix should be like a way that it creates a distinguishing factor among all other hotels. So, taking challenges and creating distinguished prod-ucts are a must in this profession. As a beginner, you should have the eligibility to take risk.

What according to you are the essential leadership traits and who is your ideal leader?You should be very fi rm as nobody should take you for granted and at the same time you should be able to give opportunity to your sub-ordinates to grow. Instead of emerging as a critic after the event, guiding them through the right direction is also an essential trait of leadership. And also a leader should be on the fi eld with his fellow-mates and not just passing orders. My ideal leader is Dalai Lama and even Gandhi as they remained strict to their principles, no matter whatever the cir-cumstances were. A leader should be able to motivate people and my way of motivating is through empower-ing people and such empowering often separates the men from the boys.

"BEING YOUNG OR OLD DOESN’T MATTER, CREATIVITY HAS TO BE SUPPORTED BY YOUR SPIRIT OF WORKING IN A TEAM AND THAT’S WHAT IS REQUIRED IN THIS CAREER"


We're living in an economy that's erratic and unstable, with manufacturing trends towards more dependence on diminishing natural resources, and in a world where

people are rising up to push back against what they view as oppression. How can leaders prepare for a fu-ture full of so many unknowns?

In the US, we're under constant pressure to create jobs, but with demand for products at low levels, hiring is high risk. Companies can't afford to hire new people or can't fi nd the right people with the right skills for the jobs they have open. How are leaders supposed to serve their customers without talented staff?

Changes come faster and are more signifi cant than at any time in human history, whether driven by tech-nology, demographics, or just hope. But this isn't a story about gloom and doom. There are very practical steps we can take in organizations right now to prepare for this uncertain, but certainly challenging future, and it starts with leadership and leadership development.

Because we are not going to be able to predict what new challenges are coming, the most important thing we as leaders can do is recognise that we need more people who are able to quickly see and gather available information, think critically about what that new infor-mation might mean for the organization, and take the initiative to act on that information in a prudent yet aggressive way. We need people who can analyze a situation, synthesize a solution, and evaluate the impact of that solution.

We need people who can solve problems. To prepare for our uncertain future, leaders need to build these key skills, and that means the leader’s primary responsibil-ity has to be teaching. Effective teachers not only build the required skill set, but also inspire confi dence. Re-member that no one becomes an expert without sig-nifi cant experience, which takes time. The important thing is to start now with small steps. A teaching leader has already laid a foundation for learning within the organization. That means work processes are driven by documented standardized work, requiring that every-

one who does a shared task does the task the same way. A leader teaches by enforcing the rule and insisting the work be performed the same way each time. Beyond standardized work, the organization will also have cre-ated a team-based work structure. Teams of three to six people, each with a supporting team leader, focus on completing all the required work for the organization, from marketing, to product development, to assembly, to customer service.

Teams promote learning, but still require leadership to challenge the teams to reach higher, setting goals just slightly more diffi cult than current skills allow. With the foundation set (standardized work, teams, and team lead-ers), learning is a matter of focused thinking in the course of doing work. Additional opportunities for learning occur any time we experience a problem. In typical organiza-tions, when we experience a problem, someone else has to solve it, not us. In a learning organization, the indi-vidual who experiences the problem needs to solve it, but not without help. This is where the team leader comes in. The team leader responds and helps the team member clear the problem, then together, they document the problem and think it through to see if the action they took will be an effective long-term countermeasure.

It works the same with improvement ideas. Team members share them, work them out, analyze them, evaluate them, and implement them with the support of a team leader, supervisor, or other appointed coach to see them through the problem solving process. As we go through these steps every time we have a prob-lem or have an idea, we get a little better, and our con-fi dence climbs a little.

Being a teacher in a work environment doesn’t mean you know all the answers and have to go and provide a class for anyone. It does mean that you help in dis-covery, and that you set high expectations, challenging the team to keep pushing their own limits, trying again if they fail, understanding why it failed, and celebrating when they succeed. This pattern will teach people how to respond to anything that occurs. That’s the future of the company.


LEADING FOR THE FUTURE

THE WORLD WILL NEED PEOPLE WHO CAN ANALYZE A SITUATION, SYNTHESIZE A SOLUTION, EVALUATE THE

IMPACT OF THAT SOLUTION AND FINALLY SOLVE PROBLEMS

DAVID VEECHExecutive Director, Institute for Lean Systems (ILS)


This book on leadership issues takes you from the fi rst page to the last page at one go. It is pure, simple and pragmatic reading, yet the author instills a sense of purpose into every

example or correlation that he makes throughout the book. He takes us from the pre-independent Indian sub-continent with Gandhian models to modern well known personalities across the globe in top managerial posi-tions. The author manages to make the reading light and informative.

He mentions Jacqueline Novogratz who chose philan-thropy over a cushiony well paid high profi le post to show her leadership values. He writes about Gandhi’s journey from a well-bred barrister to a loin-clothed leader for whom nonviolence was the answer to a very cruel estab-lishment. One has to lead yourself to lead others,’ states Peshawaria in his book. He further writes about ‘believe in your purpose’ about leadership issues. ‘Personal fame and fortune is a by-product of leadership, not an end in itself.’ He drives home the point that one should take on more managerial/leadership responsibility. He has equat-ed parenting and leadership and has rightly pointed out that it is the journey that matters, not the rewards be-cause the reward is in the journey itself.

The author identifi es the source of personal energy in the ‘underlying purpose and values’ of an individual. ‘Laser-sharp clarity on purpose and values forms the basis of a high level of self-awareness, which in turn is the very foundation of leadership.’

The six point theory by the author is the focal point

of the book. The individual himself is his greatest mo-tivation when he has clarity over issues like what he wants to do, what are the things important to him, the results that he wants to bring about, his own projections to other people, his values for his behavioral pattern and understanding volatile situations.

The author takes us through the brain function of emotions, secretion of adrenaline and bursts of energy. Again he reiterates the backlash of negative and posi-tive reaction to any situation.

The author cites Daniel Goleman who cites this phe-nomenon as ‘amygdale hijack’. Thus the amygdale pro-duces energy that can be either positive or negative. He further writes that the brain has an “open-loop” system which reacts to other human beings and their emotions. Another interesting fact in the book is the ‘brains-bones-nerves’ theory of the author. The difference be-tween bosses and leaders is that the latter manage the above mentioned facts throughout their term. Bosses are there for short-term growth. Leaders are not. The context of Jack Ma (Alibaba.com) as customer fi rst, team-work, embrace change, integrity, passion, commitment for great leadership. He takes other examples where bosses and leaders are differentiated and how a boss could become an effective leader. He writes about the ‘high-quality, low acceptance’ problem where the com-pany executives never quite understand the larger goals set by the bosses. Then he bets on ensuring the key jobs to be fi lled up by the best people only. And clarity around performance expectations is vital along with the skills and experience required for the job.

The author concludes that leadership is not a matter of formulaic techniques, and it must not be cultivated by resorting to them. ‘Intrinsic motivation is always more powerful than extrinsic motivators to maintain high performance’. Senior management does not care at times to create the conditions required for leaders brought in from outside to show their leadership po-tential. This is especially essential as outsiders do not know the company’s existing culture. Succession plan-ning is very important for leaders to focus on.

“Good leadership is a function of skill and will. The skills of leadership can be acquired. Purpose and values defi ne the will of the leader”.

The book is a simple, pragmatic study of cross-con-tinental cultures of leadership values and purpose. The author has covered in-depth areas about leadership with fl uidity and clarity and motivates the leader to exhibit traits otherwise lying latent.

TOO MANY BOSSES, TOO FEW LEADERS“GOOD LEADERSHIP IS A FUNCTION OF SKILL

AND WILL. THE SKILLS OF LEADERSHIP CAN BE ACQUIRED. PURPOSE AND VALUES DEFINE

THE WILL OF THE LEADER” M D SAHA

LEADING BY READING


POST SCRIPT

SRamadorai, the ex-CEO of TCS, writes in his book 'The TCS story.... and beyond' that he ‘loved to see the colourful fl ying objects soar high.’ The book vividly

describes his entire journey in TCS and the way his team scripted the vision statement for TCS in 1998. Here is a book that talks about the TCS philosophy as shaped by Ramadorai. Such books by leading CEOs have not only enhanced the stature of the individual but also the corporation they headed.

No one from the business world would perhaps dispute the fact that dynamic CEOs are intrinsic part of brand equity of the companies they work for. Brand champions like Bill Gates, Vijay Mallya, Steve Jobs, Jack Welch and many others have not only built their own legends but also ensured that their own eulogy enhances the organization’s brand equity. However, the moot point is what would happen to the brand value of these companies after their celebrity CEOs resign or for that matter sign off from the world. In order to keep the branding of companies intact, most of these CEOs leave a legacy behind – a legacy that is unsaid but laid down principles for the coming generations. They make sure that their personality traits get embedded in the innards of the value system of the company.

For instance Steve Jobs’ innovative instinct is part of Apple’s core philosophy. Similarly, Richard Branson’s adventurous and surprising style is refl ected in Virgin’s endeavours of foraying into new and untapped business. The same is true for Bill Gates, Sam Walton, Michael Dell and the likes. There is something new and daring about the current crop of CEOs who are transforming today's industries. Just compare them with the executives who ran large companies in the 1950s through the 1980s. Those executives most of the time shunned the press. But today's corporate leaders such as Bill Gates, Richard Branson, Steve Jobs, Jack Welch and our home grown chiefs Murthys and Nilekanis - hire their own publicists, write books, give interviews, fi ll the newsprint with their personal philosophies – that are in sync with the organization work culture.

The books written by CEOs like Bill Gates, Richard Branson and Sam Walton are of course more for guiding the thoughts of fellow travellers, besides being part of business school syllabi and case-studies. Amidst several strategic and non-strategic steps they take to align their beliefs with company’s DNA, writing a book is one that goes a long way. Not only Western CEOs' tribute have been framed in the form of books, but Indian CEOs like Subrato Roy of Shahara, Gurucharan Das,

Subroto Bagchi and S. Ramadorai, the latest to join the bandwagon, have all penned down their stories and the way they steered their companies. These books become single point of reference for investors for knowing the company. Books by CEOs not only enhance their own celebrity status but also enhance the brand value of the corporate entity. In an article published in ‘Knowledge@Wharton’ on April 07, 2004, the author quotes, "Marketing experts at Wharton and elsewhere say that making a celebrity out of a business owner can be a good thing, as long as certain safeguards are in place". Supported by his research, David J. Reibstein, a Wharton

professor of marketing proved that a business person who is also a brand can deliver great value to a company. A white paper titled ‘Superstar CEOs’ by Ulrike Malmendier and Geoffrey Tate of UC Berkeley (and NBER) notes that books authored by “CEOs can serve as a marketing tool and thereby increase fi rm value.” An article by Charlotte Cutter titled ‘The

real value of publishing a book’ opines that publishing a book can increase publicity and business opportunities for entrepreneurs and professionals and gifting a book to a client acts as a promotional tool as well. Martin Roll, a renowned thought-leader on value creation believes that in companies like Sony, Virgin, Starbucks, Microsoft and many others, the top executives are involved in leading the branding vision. Todd Hopkins, CEO of Offi ce Pride and author of ‘Five Wisdoms for Entrepreneurial Survival’ suggests that writing a book is one of the best ways to help people get inside the author’s head and to understand how these luminaries think and what drives their decisions.

Writing books by the top brass of the organization creates legacy and channelizes their principles and values for the guidance of the corporation. It helps to differentiate their brand against their counterparts. It is a win-win proposition for all the stakeholders - the author, the corporation and the readers of the book.

A quick glance through the corporate brigade (especially in India) would pinpoint authors who never made it to corporate world but write about it, then there is another lot which has done it but are reluctant about sharing their ideologies. But the best consists of those who did it in the past and lived to tell their tales. They are the ones who act as a beacon for the next generation. Wonder why so few of them pick up the pen, or shall we say; punch the keys of their laptop to share their strategies and action plans with the rest of the clan.

MEMOIRS LIVES A LEGACY

TODAY'S CORPORATE LEADERS HIRE THEIR OWN PUBLICISTS, WRITE BOOKS, GIVE INTERVIEWS WITH THEIR PERSONAL PHILOSOPHIES

SRAY AGARWALConsulting Editor

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