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With expansion on its mind, Future Group seems all set to give its competitors a tough time ahead!

The curtains close, the actors retire & the audience thunderously applaud the last act of G.B. Shaw’s ‘Pygmalion’. And amidst the mesmerizing thunder, one gets reminded of someone who’s scripting a similar plot. And wait! We are not hinting at an imposter here, but at the retail maverick Kishore Biyani, who, like the lead figure in the play seems to have taken a bet to satisfyingly pass off a common girl as a refined society lady!

Biyani’s plan to enter the last mile retail space with announcement of 1,500 new format ‘Fair Price Shops’ is clearly an effort to convert the humdrum and highly uninspiring ‘kirana shops’ into prom queen material. And surely, while competitors thought that this retail bigwig only moved ahead with the refined crowd, he springs a surprise, disclosing desires for plain Jane as well. Since inception, Biyani’s Future Group diverted its attention from the bottom of the pyramid... Now no more!

A bigger question here is to what extent was the adoption of his current strategy affected by Subhiksha’s & Reliance Fresh’s effortless walk towards increasing market share. Or was it just skyrocketing real estate prices at prime locations that made Biyani believe profoundly in the fragmented set-up? Sure enough, competition from other retail players may also have edged him to maximise his national reach through his latest arm candy (read Fair Price Shops) which measure only 2,000 square feet each with glitz whatsoever! But Nilotpal Chakravarti, Retail Analyst, Springboard Research, denies the fact as, “The new format stores are nothing but an attempt to tap the large lower middle-class group in small areas, where there is a great potential for organised retail. The step is not meant as a response to Subhiksha or Reliance Fresh, but is a means to tap the huge market that exists...” Sure, with a difficult living ahead & with the retail wave gaining magnitude – with Subhiksha planning to touch 1,000 mobile stores by 2007 end & Reliance Fresh expecting to add another 100 stores soon to add to the innovative growth it has shown with its first hypermart already launched in Ahmedabad – Biyani seems to have understood the need for attending to the bottom of the pyramid while still donning the organised player hat! Moreover, the Future Group is poised to unveil four new brands by 2007-end. Besides, Damodar Mall, President (Food Business Division), Pantaloon Retail India Ltd. Confirms, “Most of Future Group’s ventures are company owned but we are trying the franchisee route too with these stores.”

Thus, Biyani will have make careful choices as profit margins at the bottom of the pyramid are thinner. Also, while HLL and ITC have already started serving the lower income brackets, they are also giving the rural Indians the purchasing power through their CSR acts. Moreover the prime competitors (including Reliance Fresh) can play the game much harder owing to their deep pockets. So will his ‘Fair Price’ Janes enable the company to win the prom title amidst the glitzy ladies? Well, surely not if he acts sans break-even targets for starters!
B&E research: Priyanka Rajpal

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Attrition rate continues to howl

ARINDAM CHAUDHURI’S 4 REASONS WHY YOU SHOULD CHOOSE IIPM...

According to an Assocham Eco Pulse Study, the current problem that is halting India to spread it wings and accelerate its growth is the alarming attrition rate especially in the service sector. Sectors like civil aviation, IT & ITeS, financial services, retail & engineering are the major sufferer of this ‘job hopping syndrome’. However, the pro-active steps have helped in putting a speed breaker in the IT & ITeS industry and the attrition has fallen by 10% as compared to the last year, yet it continues to be a massive 25-30%. The study also reveals the most stable employees are the ones that fall in the age bracket of 39-45 years. Another interesting outcome of the survey that comes across is that the fairer sex is less prone to job hopping than men.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Beastly beatitude!

IIPM MANAGEMENT INSTITUTE

Edens for Asia’s wild waifs.

We live in an age where the pressures and the pace of life are crushing the globe into increasingly confined corners, displacing huge swathes of population from Darfur to Dhaka. So it should be no surprise that in this conflict ridden world, where all creatures big and small were born equal, animals are oft en considered more disposable than toilet paper. But in the race to the everelusive finish line, some do pause to catch their breath and look around.

Pinnawala is a small, indistinct town, 90 kms from Colombo, which hides an environmental jewel. Home to one of the biggest elephant orphanages, Pinnawala started in 1975, and has now ballooned to shelter a mammoth number of 84 elephants. This is also the greatest herd of elephants in captivity anywhere in the world. Typical animals that are brought in are jumbo babies whose mothers have either been killed or have deserted them. But the fact of paramount importance is that these elephants are released into the wild once they are mature enough to take care of themselves. And how do they do that? They are taught right from the beginning to look for food and water reserves. The gentle giants’ daily routine includes breakfast sharp at eight, which is honey and oats for the babies and a walk for 3 hours. After that, they are walked for about 400 metres to River Maha Oya, where they skinny-dip and sun bathe for a good two hours, following which they rest and are served their evening meal. All in all, each pachyderm eats approximately 75 kgs of leaves and shrubbery. The babies are a sheer delight to watch with their fast paced trudging to keep up with their mothers or when they waddle in the shallow waters. One cannot help but smile satisfactorily when one sees the magic of the animal kingdom come alive here.

Another such prominent reconstructed paradise is an orangutan school in Borneo. The Nyaru Menteng Orangutan Reintroduction Project is situated 28 kms outside of Palangka Raya. This island hosts a team of dedicated volunteers with years of experience in training and readying rehabilitated orangutans to survive in the wilderness. With 43 large orangutans, it is one of the biggest such schools in Borneo. If not for being brought here, the most famous residents of this island, the orangutans, would have had suffered neglect and hunger at the hands of the plantation workers. Orphaned orangutans, used to staying with their mothers for up to six years, are handled and looked after with great sensitivity and care. Once they outgrow their quarantine stage, they are handled by a 24-hour expert staff to teach them how to climb trees and look for food themselves. One precondition for these orangutans to be released back in the wild is that they must have adequate food and water supplies and natural habitat to call home. However, mindless deforestation has gnawed away at orangutans’ natural habitat as well. While these lovable creatures are getting ready to be back where they belong, authorities are finding it increasingly tough to relocate them.

Though these places are a wonderful microcosm, let’s hope that they do not become a peepshow to the future where these orphanages might be all that remain of a once thriving wild population.’

Edit bureau: Ashish Pratap Singh

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Courtney to quit courting cigarettes!

Wynn MACAU

IIPM PUBLICATION

Exemplifying Macau at its illustrious best, this luxury hotel in the People’s Republic of China, Wynn Macau, provides everything that one can ask for, and perhaps even more! Just 9 months into its inception last year and the hotel can already boast of 600 deluxe apartments, hundreds of ‘gaming’ tables and slot machines; and about 100,000 sq ft of casino gaming space, redefining grandeur by the day!

THE VIEW: Overlooking the greens in front of it, the Wynn Macau stands tall providing a dreamy view, to say the least! From one of the upper floors especially, one can see almost the whole of the magical Macau endlessly – thanks to the utter natural magnificence of the place…

ARCHI TYPE: Entering the intricately patterned carpeted lobby, the red ornate chandeliers greet the ocular senses as much as the aesthetic. The uber-cool rooms, tastefully done in every nook & corner, with a personalised five star service to pamper you like you’ve never been! The special double bedroom suites, with a personal kitchen let you cook your favourite dishes. Better still, have the chef, who can access the kitchen through a door only meant for him, prepare them for you. Enjoy a glass of wine while you catch a movie on the giant screen in your living room.

BON APPÉTIT: Abundant with all kinds of global cuisine, the Wynn kitchen remains appetisingly fragrant all day long with a delectable cuisine range to suit all palates. The Wing Lei restaurant offering Cantonese cuisine, the Ristorante il Teatro for Italian fare and Cafe Esplanada for every other taste known to human taste buds are the prominent three among the seven most splendid restaurants in Wynn.

AROUND THE CORNER: The Macau Tower for the adventure enthusiasts provides ample sporting avenues. Right from the world renowned Skywalk X, Bungee jumping, to Bungee Trampoline and Long Ironwalk, the tower is a complete sports arena in itself! And if you’re still left with an appetite for some more adrenaline rush, you could choose to go to Fisherman’s Wharf. Even Portuguese monuments and forts are not very far for the history lover.

FROM UNDER THE CARPET: Although the glitz and glamour of the casinos guarantee a gambol of an experience, the Wynn Macau doesn’t really make an ideal getaway for kids – unless you want them to gamble away their monthly allowance.

IN ESSENCE: With its signature attraction like the Performance Lake, the exquisite spas and designer stores within its premises, coupled with absolute luxury, you wouldn’t want to trade a stay at Wynn for the world!

Edit bureau: Pooja Priyadarshini & Rahul Chaudhary

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Reliance Resurrected In Ambani Style

IIPM MANAGEMENT INSTITUTE

Of course there were sniggers a plenty when Business & Economy wrote just after the brothers split that the race between the two to prove who is the true inheritor of the Dhirubhai legacy would mean that both the brothers could end up doing spectacularly well. There were also some titters when we pointed out that Anil Ambani was the more vulnerable of the two; while also predicting that the younger brother would wipe out this handicap in no time. We also talked about the split unlocking value for the two separate empires. Today, the two brothers might still be estranged. But the roadmaps they have drawn up for corporate futures is quite clear. The elder brother Mukesh is now determined to recreate India's Wal-Mart in his own vision. The younger brother Anil has a far more sprawling vision and is betting heavily on the growth potential of the services sector to fuel his future. But make no mistake. Both the brothers have decisively proved that they were actually better off pursuing their separate dreams than be hemmed in by a single legacy.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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A view of the magnificient JSW steel plant at Vijayanagar at dusk. So the next time someone says, ‘Steel can be beautiful’, believe him!

IIPM PUBLICATION

And if you feel that was an exclusive ‘steely’ seen that, done that insider tale, here’s something that would give you a reason to give a tip of your hat – unlike what was flashed across all possible media platforms, the real story from the inside remains (as confirmed by Vinod Nowal, Director, JSW) that Sajjan Jindal desires to surpass the 10 MTPA milestone much before the deadline set. To be more precise, “2010 deadline is for others. Internally, Sajjanji wants the expansions to happen much promptly and achieve the stated target by 2009 itself, a year earlier and we all are confi dent of meeting this deadline as well,” disclosed Nowal to B&E. So what’s the total force with which JSW plans to weigh down on global steel platform by the year 2020 – the answer, a mind-boggling 30 MTPA, catapulting the company into the ivy league of global steel giants. And the terrific pace at which capacity additions are taking place, the entire project has been aptly baptised – ‘Project Cheetah’!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM : The Indian Institute of Planning and Management
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IIPM: The Indian Institute of Planning and Management
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In terms of infrastructure, campus and technology support, IIPM is rated amongst the top institutes of the country. IIPM’s academic campuses in Asia are ...IIPM PUBLICATION: IIPM : Campus Placements IIPM students are winners all the way..." {Source: The Times of India, June 2002} "...the icing on the cake has proved to be the 100% placements of the ...

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And the IIPM, which was founded as recently as 1973, now claims to be the world’s largest business school, with 5000 postgraduate management students in ...

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Dabur’s Destiny

IIPM MANAGEMENT INSTITUTE

“Dabur India has recognised a clear need gap that exists in health & beauty (H&B) retail space in India, thereby enabling the company to have an early mover advantage in the market. We feel there is a growing need for quality service and store environment in the health & beauty retail market in India today and no major player has entered this space so far. We believe there is a lot of value creation possibility in this venture,” Duggal shares his business plan to B&E for FY08. The company has already lined up investment to the tune of Rs.1.40 billion in H&B segment and will have a pan India presence by 2010. It targets to earn revenue of Rs.17 billion in 2012 through 350 stores. But with Fortis HealthWorld (a H&B retail venture of Ranbaxy Group), investing a whopping Rs.8 billion to open 1,000 stores by 2011, the company think tank might have to go back to the drawing boards to chalk out new strategies. Even on the M&A front, Dabur is eyeing organisations in Middle East, Africa & India. Adds Duggal, “Various proposals are under consideration and the company has the right balance sheet to fund a large acquisition at short notice. We have also got our shareholders’ approval for raising $200 million to fund acquisitions.” And come March 2008, the big honchos of Dabur India, sitting in the posh green colour building of Dabur in Sahibabad, will look back and rejoice at the year passed by and then don their thinking caps to strategise for the next year. And with the promise of future growth, Dabur might just be looking at its best shot at going global and in the bargain secure a place for itself in the B&E list of 100 Most Profitable Companies.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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...the steel Industry is likely to undergo a more extensive process of consolidation

IIPM PUBLICATION

However, while doing so the companies have been overbullish, resulting into shelling out of more moolah. Tata almost paid nine times the Corus’ EBIDTA, almost double of what Mittal paid for Arcelor (a much better company in size & scope). Hindalco too paid twice its current EV/EBIDTA for Novelis’, an entity with a loss of $275 million for the year ended on December 31, 2006. It can also be sighted as a trend where the Western peers prefer to get out of this old-world business and Indians are only too eager to move in.

With these new found chattels, most of the companies intend to move ahead with a very straightforward strategy. The companies will provide low-cost steel produced in India to these companies, which then would be finished in these markets for supplying them to the highend steel consuming sectors like auto, construction & aerospace.

Now the question is whether there’s more bloodbath left? Uwe Perilitz, D.B. Research, Frankfurt explained to B&E, “In the medium term the global steel industry is likely to undergo a more extensive process of consolidation since industry players are engaged in an unfettered rush for scale.”

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Art of ‘healthy’ living...

IIPM MANAGEMENT INSTITUTE

No doubt, at relative per capita levels, the healthcare & the pharmaceutical sectors provide perhaps the cheapest products and services; but that’s not all...

Providing people adequate healthcare was never as important as it is today, as we need an able population for our socio-economic sustenance. Considering the fact that India spends only 5-6% of its $720 billion worth GDP on healthcare, wonder why we do not talk about health so much?

According to the India Brand Equity Foundation, in a country of 1,000 million people, there are only 870,161 hospital beds in a meagre 5,097 hospitals. Well, if you think that all is lost and nothing can save Indians medically, then wait for some more surprises. On a totally contrary plain, India is home to the best medical facilities in the world. Growing at an enviable 25% annually, medical tourism in India is worth an ever burgeoning $350 million and is expected to reach an estimated $2 billion within the next six years. Riding on unbelievable cost advantages over its developed cousins, India has obliterated competition with skilled and contemporary manpower-technology combination. Considering a cost advantage of a mindnumbing 361.5% for a bypass surgery over USA, the foreign demand for Indian healthcare has been on a relentless surge. Capitalising on the opportunity, a number of high profile foreign-domestic investors are making a beeline for the Indian healthcare sector. Indian heavyweights like Wockhardt, Ranbaxy (Max Healthcare, Fortis), Apollo & now the Hindujas have big investments to the tune of $1 billion lined up. Besides, companies are all set to go global and on the radar are destinations as far as the US, the UK and Mauritius, with countries in West and southeast Asia in between.

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An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The missing ‘power’ punch!

IIPM PUBLICATION

In the next 25 years, power generation will have to increase by six folds to sustain India’s growth

Incompetent regulatory management is surely a spot of bother for every player in the sector. However, the previously mentioned planned investment to the tune of $300 billion (to support the setting up of mega-power projects) Interestingly, nuclear and thermal sectors seem to be the ones that would have heartening returns in the coming months, with the US nuclear deal opening newer avenues for the government, which envisions touching a 40,000 MW power output from the nuclear arena by the year 2020 (from the current 20,000 MW).

Also, prospects in areas such as hydro-power, wind and gas have been tapped by Reliance Energy and NTPC. NTPC aims to have a 50,000 MW capacity in the next five years; the company interestingly earned Rs.68,640 million as profit after taxes for 2006-07. T. Sankaralingam, CMD, NTPC, states, “Our strategy is to increase market share from the existing 20% through well conceived plans for quantum growth, expansion and diversification.” And obviously through hydro-power and nuclear plants. NTPC faces stiff opposition in this domain from Reliance and other private parties. Reliance Energy Chairman, Anil Ambani envisions, “The availability of reliable and quality power at competitive rates will play a decisive role in realising a glorious future.” To that effect, he’s not left any quarter exploited, what with a net profit of Rs.8.01 billion for Reliance Energy.



While NTPC and Reliance Energy would face the heat from the most competent compatriots like Tata Power and Neyveli Lignite, one just hopes that this ‘power’ful competition finally results in India tipping away to glory rather than tipping into darkness.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

The time-pass force!

36TH Full Time Programme In Planning & Entrepreneu...

In a service sector dominant economy, when different companies of different skills, operating at different strata of value chain move upwards; they leave behind a vacuum. The newly created space can be filled by other companies operating in the same domain. However, Indian companies have not been able to leverage these opportunity due to various critical factors and gap in demand and supply of talent is one of them. The problem is being confronted at two levels. On the one hand, corporate India is setting up their in-house training institutes, going for campuses of even B and C grade colleges. At another level, they are eying employees of other sectors with almost similar skill sets, setting a fresh trend of inter-industry poaching.

By planning to set-up more IITs, the government is failing to get to the root of the problem. Because what we need is quality and not quantity. It should take steps to enhance skill sets of lowly rated college & curriculum should be tailor made to suit the industry. Online courses, distance education and opening satellite campuses in remote parts of the country would serve the purpose.

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An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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At last; North India rests in peace!

IIPM Alliances

The Gurjar protests, for their inclusion in the Scheduled Tribes category, have finally come to an end. The meeting between Vasundhara Raje, CM of Rajasthan and Colonel Kirori Singh Bhainsla, who lead the protests through his Gurjar Sangharsh Samiti, resulted in formation of a committee. The three member committee, would then submit their report to the government about the possibilities of awarding the ST status to Gurjar community. The process should be within the provided guidelines of the Union Government. In the past week, the protestors blocked national highways and railway tracks. The capital was also sealed off when the protestors held siege at all the key entry points of Delhi. Some Gurjars lashed out at Bhainsla, for surrendering so meekly, after they had taken the movement to such feverish pitch.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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It's water everywhere!

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With temperatures surging, what seems to be most inconsequential now, portends the maximum threat in the coming decades – the melting of the Arctic ice! Especially the Himalayas, Alps, Rocky Mountains, Southern Andes and Mount Kilimanjaro have shown notable demise of the ice-caps, thus resulting in the increase in the sea level which anyway has risen over 400 feet since the last ice-age! Leading to submergence of the coastal areas, perhaps regions what we know as Kolkata, Netherlands, Beijing, and parts of USA, would assume similar identities in the near future – water bodies!

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An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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‘ETH’ ICAL ANOMALY

IIPM MANAGEMENT INSTITUTE

Ethanol has been a highly touted new age alternative. Ethanol is a bi-product of molasses extracted from sugar cane and large sugar companies are already engaged in its production. When ethanol is added to the normal fuel as a set percentage, it improves the combustion of the fuel and lowers emissions. According to the Energy Information Administration report, US, the cost of producing this fuel could be reduced by as much as 60 cents per gallon by 2015 using cellulosic conversion technology. Brazil is the leader in ethanol production, producing 15-16 billion litres of ethanol. It is investing $9 billion in new processing plants. The world’s largest company, US-based Archer Daniels Midlands boasts net sales of $11.4 billion (growth of 25% yoy) and net earnings of $362.9 million (growth of 4% yoy) for the nine months ended March 2007. Chairman & CEO Patricia A. Woertz stated that the company’s outlook on future opportunities remains quite strong. Equally strong, though, is the dilemma that if cars run on corn, what will people eat? Does it then remain resourceful enough?

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Amul Macho : ‘Yeh toh bada Toing hai’

IIPM PUBLICATION

BRAND: Amul Macho
BASELINE: Crafted for fantasies

4Ps TAKE: This one has all the factors to make it top the world’s most vulgar ads. First they have the guts to steal a company’s name as big as ‘Amul’ and then they produce a hideous ad, which is just short of showing an orgasm, to say the least. Don’t even ask us for a description, it’s too filthy to be penned down. We had never, even our wildest dreams, imagined an underwear ad to stoop down to such low levels just to get cheap popularity. Guess, the agency and the brand both swear by the adage that negative publicity works best. But, while it might work for a celebrity, beg your pardon, it doesn’t do anything to your sales dear. It manages to grab eye-balls for all the wrong reasons and we are sure all those who go to pick it up after watching the ad, must be a highly frustrated lot. While the nothingshort- of-obscene expressions of the woman, leave you jaw-dropped, it is the persistent ‘Toing’ sound which disgusts the most. We are amazed, no one has raised objection about it till now. This one’s ‘crafted’ to be shown between porn movies. All we have to say in the end is – ‘Yeh toh bada Toing hai’ – whatever that silly thing means!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Medicines 24X7...

IIPM MANAGEMENT INSTITUTE

...this time your neighbourhood pharma retailer pops an asprin!

As the retail boom sweeps across India, shopping habits of the average urban Indian have started undergoing a sea change. But, when it comes to purchasing a drug, our own crowded neighbourhood pharmaceutical stores continue to enjoy dominance over organised drug stores led by Apollo pharmacy, Fortis Healthcare, et al. However, as the buzz around the possible entry of corporate majors, including Walmart and ADAG into Indian drug retailing space gets louder, conventional wisdom is being challenged yet again.

And rather then making a hue and cry over things later – as neighbourhood grocery stores are doing against Reliance Fresh stores now – the drug retail bodies across India are prudently planning a line of attack in advance. The drug retailing associations have not only started shaping themselves into corporate entities, but have also initiated talks with both global and domestic pharma majors for entering into exclusive supply deals. “We are in preliminary stages of negotiations with global giants like Pfizer, Sanofi-Aventis and Indian majors like Wockhardt, Alkem and Lupin for exclusive marketing and distribution tie-ups,” AN Mohan, President of India’s largest drug retailing body - AIOCD told 4Ps B&M. Needless to say that associations in states like Maharashtra, Kerala, Orissa, Rajasthan and West Bengal are following suit.

Then again, as opposed to the swanky, new entrants, the erstwhile unorganised segment has a more holistic understanding of Indian market, and could therefore enjoy an upper hand. But, it cannot be discounted that these smaller players will have a hard time fighting the brand name and the sheer economies of scale that multinational giants like Wal-Mart may eventually come to enjoy.

Edit bureau: Manish K Pandey

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

The Godfather is the greatest

IIPM PUBLICATION

Recently, there was a survey conducted by Empire, the popular British film magazine. Now, there are surveys, and there are surveys, but this time, it was about which the world’s all-time greatest R-rated films (movies for which the audience has to be over 18 years of age) are. Here we present the top 5 films. Francis Ford Cappola’s ‘The Godfather’ was adjudged the greatest R-rated film of all time. The movie was released 1972, and boasted a star cast that included Marlon Brando, Al Pacino, Robert Duvall and James Caan. Next up is Quentin Tarantino’s ‘Pulp Fiction’ that was released in 1994 and has a star cast comprising Tim Roth, John Travolta, Samuel L Jackson, Uma Thurman and Bruce Willis. Position number three goes to Ridley Scott’s ‘Alien’, that has Tom Skerritt, John Hurt and Sigourney Weaver playing the main characters. Slot number four was bagged by Martin Scorsese’s ‘Goodfellas’, that has Robert De Niro, Joe Pesci, and Ray Liotta in memorable roles. And finally, at the fifth spot is the cult serial killing flick, ‘The Texas Chainsaw Massacre’, directed by Tobe Hooper and starring Marilyn Burns, Allan Danziger, Paul A Partain and William Vail. Go ahead, enjoy these classics again, but remember you’d have to be over 18!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative