Industry 4.0-Current Industrial transformation with automation: Reality or Myth

Article by: Ms. Priyanka Roy, Student Batch-2017-19, Calcutta Business School

In the world of digitization, every sector of the industry has undergone significant transformation in every facet of their operations. With the development in Information and Communication Technology (ICT), over last two decades, industries have been confronted with disruptive changes in technology and their impact on business operations. We are experiencing Industry 4.0 now, which broadly entails human-machine interaction in managing business operations. Experts say, “We are at the tipping point of the fourth industrial revolution”. Some of key aspects of industry 4.0 include Augmented Reality, 3D printing, and collaborative robots etc. In addition, organizations are flooded with humongous amount of data generated at every node of their supply chain in the form of structured, semi-structured, and unstructured format. Question is how one can cope up with this pace of technology change and leverage it for business growth. Here comes the debate: Is Industry 4.0 a reality that can be implemented and generate business results or it is merely a myth? Before getting into the central discussion, let us first discuss briefly about Industry 4.0.

Industry 4.0 also known as the fourth Industrial Revolution is the current trend in manufacturing industries. In short it means incorporating the smart technologies in manufacturing industries, improving the process, optimizing the productivity in order to venture a new business model. With the introduction of IoT, cloud computing and other advanced technologies in manufacturing and production industry there would be a huge transformation where systems would communicate with each other in an intelligent way. It’s a process where humans will stop working and all communication will work between computers.

Industry 4.0 is going to have a significant impact on the ease of doing business in India. The impact will be seen in higher demand of skilled labor, reducing the centralizing process as well as the change over time, more direct customer relationship, reduction in the breakdown time due to conditional maintenance. The day to day activities of the workforce will be replaced by automated robotics.

A lot of research has already been done in this field and manufacturing industries have already started to implement it .The automobile industry is specially seen at implementing the Industry 4.0.Companies like BMW, Bosch etc. implemented Industry 4.0 to focus on their production .Similarly companies like Daimler, IBM, Universal Robots implemented Industry 4.0 in order to focus on production planning, logistics, improving customer value through engineering etc. The best example of the implementation of the Industry 4.0 could be seen in Siemens Electronic Works facility in Amberg, Germany. The whole operation is maintained by smart machines which coordinate everything from the manufacturing line to the global distribution of company’s product.

Industry 4.0 is creating enormous opportunities not only in the global level but national level as well like Make in India, Digital India and Skill India. The objective of Make in India is to make India a manufacturing hub in the world and in this process Industry 4.0 is going to help India in ensuring its spot in the Digital World. Skill India aims at upgrading the skills of the workforce so that they meet the requirement for the industries and would be able to work with the upgraded technologies. A considerable portion of Indian manufacturing industries operates with their plants with limited automation as they are not willing to invest on new technologies and focus less on product innovation. This is a major challenge for Indian Industries. India should work faster in adopting Industry 4.0 in order to become one of the Industry 4.0 leaders of the world. Indian companies have already started adapting business strategies to implement Industry 4.0 like Maruti Suzuki, Tata Motors, Bajaj, Renault etc. They are using robots in their assembly lines, production line for welding and painting etc.

The application of those new technologies will involve a number of challenges. The challenges include lack of knowledge, capabilities, funding etc. The objective of the first step is to understand the technologies and to implement them. For a successful implementation of Industry 4.0 Data Security and system integrity are the prerequisites. In order to integrate the entire supply chain from supplier’s end to customer further to customized production the advanced factory uses automation. In order to maintain integrity within the whole network each machines and personnel need to be verified and communications must be highly protected to protect from unauthorized access, attack, fraud etc. After the implementation of new technologies like Internet of Things (IoT), Cyber-Physical Systems (CPS) in the manufacturing field the integration of real and virtual worlds will reach the next level. Industry 4.0 enables machines, devices and people to connect anywhere, anytime and at any place.

References-

Ø Nardello, M., Madsen, O., and Møller, C. The Smart Production Laboratory: A Learning Factory for Industry 4.0 Concepts.

Ø Industry 4.0 and India's Automotive Industry. 2nd Automotive Forum & Awards – Theme Paper

Web 2.0 for Libraries and Information Centres: What, Why and How?

Article by : Mr. Atanu Ganguly, Assistant Librarian, Calcutta Business School

What is it?

Web 2.0 is very commonly described as sites which are using participatory and collaborative technologies. The term Web 2.0 was coined by technology commentator Tim O’Reilly who tried to define it as follow: “Web 2.0 is the network as platform, spanning all connected devices; Web 2.0 applications are those that make the most of the intrinsic advantages of that platform: delivering software as a continually- updated service that gets better the more people use it, consuming and remixing data from multiple sources, including individual users, while providing their own data and services in a that allows remixing by others, creating network effects through an architecture of participation and going beyond the page metaphor of Web 1.0 to deliver rich user experiences”. (Source:http://radar.oreilly.com/2005/10/web-20-compact-definition.html)

The analysis of the above definition gives the following main points:
1. Strategic positioning: The web as a platform
2. User positioning: You control your own data
3. Democracy of expression: Less techno-savvy users can express their talent and work.
4. Core competencies: Software upgrades happens without knowledge of users, architecture of participation/sharing, remixability of data source and data transformations and compatible to use in computer as well as other modern devices like iPods, PDAs, cell phone etc.

The characteristics are as follows:

· Software is hosted online and is provided as a service
· People participates in social communities, creating rich environment
· The masses determine what is valuable
· Authentic content created by the user community is what has value
· Simple, lightweight applications with low learning curve
· The perpetual beta, software as a service
· Applications for Web, desktop, gadgets, mobile device iPods etc
· Control relinquished in favour of distribution and sharing
· Application functionability and data is stored
· Web sites include AJAX, mapping, WYSWING editors, drag-and-drop functionality etc.
· Groups, collaborations and mingling.

Why it is used?
The world of knowledge is vast and people residing in each and every corner have diversity in culture, social status, education and economical background. With the development of Web 2.0 they have found a place where they can interact, participate and share their common area of interest. It’s like a professional and amateur co-existing in a same platform. To make it clear “why it is used” we can make a simple distinction of the scenario of when Web 2.0 was not there and when Web 2.0 has captured the empty place through the Seven Principles of Tim O’Reilly as beautifully given in the figure below:



Figure-1

The benefits for libraries are as follows:

1. This application helps libraries to build their web tools like blogs, knowledge repository, podcasts, and custom search engines without computer programming skills.

2. It helps the libraries to get connected with the users through comments, ratings and reviews in blogs and wikis.

3. It makes the libraries to participate in knowledge communities, social networking and virtual communities

4. The tools assist libraries to work in partnership with team members from distant libraries or staff located at different areas.

How it is used?

The Web 2.0 has become popular and we have seen it has revolutionized the user participation. It has made the non-technical person also contributing regardless of their background or position. The most common Web 2.0 tools which has put our self in an age of participation are as follows:

Ø Blogs- It is also know as web blog actually is online journal on web site where articles are been posted in a chronological manner. Libraries use this to promote the services, events happening and latest acquisition of books and other resources, database information etc. They can also give case studies on various issues related to library functions and even demonstrate some innovative ideas practiced or may be implemented for betterment.

Ø Wikis- It is a collaborative space created online where many users can work on a shared project. It is a social publishing which removes barriers like time, place and technical knowledge. Libraries itself is a storage of knowledge in a organized and ready for disseminated form. With this technology librarians can capture and provides information for their patrons.

Ø RSS- Really Simple Syndication is a method of technology which enables the publishers distributes news and other contents on the Web. It is directly deliver to the user. Libraries provides their patrons with library news, events, updates related to special interest like new book release, database subscription, journal & magazine alerts, due date of return of library items, movies reviews, music album launch, etc.

Ø Photo sharing- Online photo sharing through sites like Flickr, PhotoBucket, Webshots etc. are becoming popular as users can rate them, review them and share them making a huge collection of personal, cultural and historical digital photo collection on the web. Libraries in the present digitised environment can share images of new book cover, library events, guided tour, photos of library staff and even innovative works which can serve as a useful marketing effort.

Ø Podcasting- It is series of audio recording or episodes which can be access through subscription mode. It helps people to get automatic updates via RSS feed. It may contains images, video or text files. Libraries are creating, using and subscribing to various podcasts on subjects according to user recommendations. It has been utilised as a learning opportunities for professional development.

Ø Mashups- It is hybrid web application that combines distinct set of data and their function ability from a separate source to create something new in form. It is free-for-alls which gives diverse information and serve as a guide. Libraries have started to explore there are endless possibilities like locating information for the users.

Ø Social Cataloguing- Cataloguing are not now only done by trained professional social cataloguing websites now help users to create personal catalogues of their book, CD, DVD, game collection etc. and share them. The largest of the social cataloguing web sites is “LibraryThing”. Others in this line are “Shefari”, “Listal” and “Gurulib”. Libraries are using this as a tool for cataloguing new titles which help them to reach the numerous people in the community. It helps to establish an authentic source of information through web portals of library and full OPAC systems.

Ø Video sharing- Through various web sites like YouTube, Metacafe and Revver online video sharing has been popularised as it is free of charge and user friendly. Libraries are using these to promote their programs and services like guiding library collection, user awareness, library guide tour, to make visibility felt among the community.

Ø Social Bookmarks- Social booking focus on managing and sharing information. It enables user to retrieve their searches in future in an online space. It has great advantage as they are not stored locally in user’s desktop but rather accessible from any online devices. Libraries using social bookmarks help the users to get reader’s advisory sources, web resources list and subject guides. 

The General and the King

Article by : Prof. Partha Saha, Associate Professor, Calcutta Business School

The Koshal army led by General Kumar Tikendrajit was retreating. Retreat was fast and furious. It had to be. Two neighbouring states, Koshal and Karnavati were locked in bitter battle for supremacy for the last two decades. There were lots of border skirmishes between the two states. Battles were mostly non-decisive. See-saw battles between two armies raged for long period. But this time Koshal army crossed the river Koel to attack Karnavati, hoping to take the enemy by surprise. But they were mistaken. The army of Karnavati was fully prepared due to advance warning from their superior spy network. The result was a disaster. Koshal army was completely routed. King Virendra Devvarman of Koshal, who was leading Koshal army from the front was mortally wounded. Later he succumbed to his injuries. Almost three quarter of Koshal army perished in the battle. The Koshal army, defeated and devastated, had no option but to retreat at full swing. However they were pursued by the marauding adversaries. Both armies were running on their horses. Only silver line for Kumar Tikendrajit was that his adversaries were half a day behind and they were unlikely to overrun him in a hurry.

Kumar Tikendrajit and his men quickly reached a forest. They were to navigate the forest to reach the banks of river Koel. Their only salvation lies in crossing the river Koel and stepping into the soil of Koshal. But the forest terrain was treacherous. It was full of marshy wetland, lakes, quicksand, small rivers covered by thick dense trees. Many wild animals like tigers, lions, cheetahs, wild boars roamed freely inside the forest. Wetlands were infested with snakes and reptiles. Even in the daytime it was difficult for the Koshal army to progress as beams of sunlight peeked through the foliage. The terrain was unknown and there was absolutely no compass to guide them. Kumar Tikendrajit and his army were moving slowly through the forest. At every step soldiers were cutting their way through the jungle with axes and machetes. Soldiers are cutting through the undergrowth, clearing it out, while Kumar Tikendrajit and his lieutenants were watching close-by. Suddenly there was wild shriek and screaming. Seven of his men were drowning in the quicksand along with their horses. The army stood helpless watching the men and beasts slowly sinking into the sand. Later five of his men were bitten by cobra and died almost instantaneously. Cry and wailing of soldiers was also attracting the attention of the spies of Karnavati army who had a base-camp near the forest. They despatched two of their quickest horses and ablest men to inform the pursuing Karnavati army. Karnavati army were making quick advances to capture or slaughter the remnants of their adversaries. Now Karnavati army knew the exact locations of their enemies and their movements in the jungle. The noose around Tikendrajit and his men were tightening.

At this point of Tikendrajit realized that they were circling in the jungle in a haphazard manner. With his own sword he cut the branches of two trees and wrote his name in the trunk of both of them. After two hours he came back to the same spot. This time Tikendrajit began to sweat. The full import of the situation suddenly dawned upon him. His enemies now knew his exact location, thanks to their spy network. The advancing army of Karnavati were coming closer and closer at every passing hour. Karnavati spy network was watching his every movement. The forest landscape was unknown. He was slowly losing his men due to attack from wild beasts and reptiles. To top it all he was not sure of the correct escape route, to reach river Koel. Probably surrender was the only option. But the Karnavati army, known for ruthlessness, was unlikely to take any prisoner, he mused.

At this point Tikendrajit spotted a cavalry man coming from the other side of the forest. He was a man in his early thirties. Grave but with a noble countenance he possessed a remarkable feature. First thought that came to Tikendrajit’s mind was that the person might be a spy of Karnavati army. General’s men intercepted the stranger and he interrogated him personally but found out that the young cavalry man, named Vikramjit, was a complete stranger. Out of sheer desperation Tikendrajit narrated his predicament to Vikramjit. The rivalry and war between Koshal and Karnavati, the defeat and the flight of Koshal army, their flight into jungle, everything was told to Vikramjit. Finally the general begged to Vikramjit, if he could lead them away from danger, to the bank of river Koel. Vikramjit told to the general “You want to go to river Koel. Why don’t you find out the route by yourself.” “We tried but we don’t know the path; we are circling round the forest. By this time we are completely surrounded by the enemy,” a desponded Tikendrajit replied. Vikramjit dismounted from his horse and looked around. He spotted a tall coconut tree and began to climb up. He reached the top of the tree, surveyed the whole landscape quickly and then climbed down. Then Vikramjit rode on his horse and commanded the army “Follow me.” The whole army followed without a murmur. After three hours of rapid flight the army reached the river Koel, crossed the river and reached Koshal. As the throne was vacant following king Virendra Devvarman’s untimely death, the grateful general Tikendrajit then persuaded Vikramjit to ascend the throne.

The ecosystem in which management of an organization operates can be compared to the treacherous forest terrain in which Kumar Trikendrajit found himself. There are two or more players in a marketplace offering same goods and services. There are intense rivalries. Management and workforce often find themselves boxed into difficult corners due to sudden change of the business environment. Management under excessive pressure often resorts to cliché solutions, which compound the problems. Sometimes they try to find escape routes but find themselves embedded into a maze, just like general Tikendrajit and his men were circling round the forest without success. The general was lucky to spot the future king, in the avatar of Vikramjit, who led them out of sure destruction by asking right questions and showing the escape route. The escape route could only be found by surveying the landscape from the top, as Vikramjit did. The solutions were always within reach but only a true leader could ask the right question and suggest out-of-the-box solution as Vikramjit did.

The difference between management (exemplified by Kumar Trikendrajit) and leadership (represented by Vikramjit) is striking : Management is doing things right. Leadership is doing the right things. Management excels in keeping intact bottom line: how does an organization survive in a certain industry(s). Leadership focuses on top line: in which industry(s) the organization should operate. Management shows efficiency in climbing the ladder of success; Leadership judges whether the ladder is leaning against the right wall. It is not very often that we see the happy combination of leadership and management in a single individual/organization.

It goes to general Tikendrajit’s credit to spot the leader in the form of a complete stranger Vikramjit, asking for his guidance and following him unquestionably when the latter showed him the escape route. Perhaps fear of impending disaster and merciless persecution by the enemy allowed him to see the light at the earliest!

Bharat Petroleum – Technical Analysis

Article by : Prof. Tamal Dutta Chaudhuri, Principal, Calcutta Business School

In this post, we will look at a few technical indicators and understand whether Bharat Petroleum Corporation Limited is a good buy on Tuesday, 26.12.2017.

Figure 1 shows that there is a clear upward channel formation and prices should hit Rs.570 levels. There is some money to be made. The linear regression line is also upward sloping indicating that Rs.550 level is achievable. However, note that we are at the end of 7 waves, and there should be a technical correction - so get in fast and get out fast.

Figure 1

Given the price movement, understandably, in Figure 2 the price is climbing along the upper band of the Bollinger Band. The price has just crossed the 0 MACD line and is marginally overbought. It is also giving a buy signal. However, RSI is quite high around 70, but a bit of a bull steam is left.

Figure 3 is interesting. The Parabolic SAR line is starting to catch up with the series indicating some upward rise in prices. Stochastics, however, a bit broad based on a 10 day period, has already given a sell signal. The upward rise is losing steam.

Momentum in Figure 4 has shown a short break and Mesa Sine Wave is signaling a sell.

Figure 2

Figure 3

Figure 4

Grauer & Weil: A Small Cap Multibagger

Article by : Mr. Sayan Satvaya, Student 2016–18 batch, Calcutta Business School

The only Indian company and one of the few in the world which is into the business of complete corrosion-protection solutions across various industries. Some of its prime clients are ISRO, Bhabha Atomic Research Centre and HAL. It is also registered with global brands like Rolls Royce and domestic airline GoAir. This company caters to industries like infrastructure, automobiles, hardware, jewellery, oil and gas and other heavy industries. Its products also find usage in nuclear, defence and space sectors.

The stock was trading at Rs. 5/- in 2012 and currently it is trading at Rs. 71/-. It has multiplied investor’s money almost 14 times in last five years. It’s current market capitalization is Rs. 1620 crore. The company’s revenue has grown from Rs. 336 crore to Rs. 444 crore in last five years. Some other financial ratios are highlighted below:


The current PE ratio is 28 compared to Industry PE of 58. The stock had a good run in last few months and may face consolidation for the time being. However, it is expected that the revenue and profitability growth will remain consistent in the next few years and hence, the stock should test Rs. 220/- level by 2022.



Disclaimer: The recommendation and advice are of my own opinion. Please do your own research for confirmation. 

CRM Experiences in Indian Companies

Article by : Dr. Suman Kumar Dawn, Associate Professor, Calcutta Business School

Indian companies are on a journey to become more customer-centric. In today’s commercial world, practice of dealing with existing customers and thriving business by getting more customers into loop is predominant and is mere a dilemma. Customer Relationship Management (CRM) is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship management is not only pure business but also ideate strong personal bonding within people. Increased competition, margin pressures and demanding customers are forcing companies to look at CRM in a big way. Companies those are likely to deploy CRM solutions in the future are pharmaceuticals, BPO, retail, FMCG, healthcare, airlines and the government. Manufacturing is also showing potential for CRM deployment with a focus on maintaining relationships with dealers and helping them enhance their sales and service capabilities.

“Segments with increasing competitive pressures and high-value sales will deploy sales force automation systems. Support-oriented organisations are the next big gainers if they deploy CRM. A typical example of this would be IT resellers and systems integrators, since they need both sales and service to remain competitive,” says Rajeev Mittal, Director, Small and Medium Solutions and Partners, Microsoft India.

Quality, consistency and customised care to the patient help the healthcare service providers to retain the patient as well as the entire family for their lifetime. “CRM technology is implemented to minimise cost and time in healthcare, and ultimately enhance the customer relationship,” says G Radhakrishnan Pillai, Head, IT, SRL Ranbaxy.

OYO Rooms has in a very short time emerged as India’s leading branded network of hotels offering standardized stay experiences at a competitive price. Millions of web and mobile visitors every month turn to OYO to book a room at more than 7000 hotels in 200+ cities. According to Vishal Jain – VP of Growth & Marketing at OYO told that OYO has been using a full 360-degree view of guest-interactions to drive sales in both online and offline channels. For this, OYO has deployed Blueshift, with its advanced ability to ingest and process many data sources from online and offline activity, quickly segment specific audiences and operate in real-time across multiple channels. This has helped us build a better user experience spanning mobile and email. Offline and call centre bookings can now be coupled with each customer’s online behaviour to deliver relevant recommendations as well as price-drop alerts that are customised for the individual. Following tie-up with Blueshift, OYO was able to rapidly launch campaigns delivering more than 50 million personalized messages per month, across various channels such as email, mobile notifications and SMS.

Pizza Hut recognises frequent callers and the context of their call enabling the customer to be routed to the agent who best fulfils their requirements, where it is a new order, changes to an existing order or a status enquiry on an existing order. Pizza Hut operators access up to-date information on its outlets in the catchment area , enabling them to select Pizza Hut store that fulfils the customer order quickest , thereby meeting it commitment to deliver hot pizza quickly. The new service using IT offered by Hindustan Unilever was intended to be friendly and personal. For this, an innovative communication route was adopted. The entire service was branded as “Infra Jini” to give users an Idea of the friendly and personal nature of the service. “This little “infrastructure genie” gave the service a personal touch and was popularised by means of posters and mailers. The Infra Jini is also present on the desktops as a clickable icon , which took the user to the website from where he could log a call online. Taj Hotels provide the “frequent customer “with much higher luxury facilities at no extra cost. Cross word bookstall allows its customers to go through any book without any compulsion to purchase the book. Airtel customers in Mumbai are given a special feature along with their connection which helps them to perform the famous Siddhi Vinayaka pooja by simply sending a sms nicknamed vpuja51.

CRM benefits:

i. CRM obtains better customer satisfaction.

ii. Servicing, marketing, and selling products to customers can be carried out in an organized and systematic way.

iii. Better services to customers can be done through improved understanding of issues and this in turn helps in increasing customer loyalty and decreasing customer dissatisfaction.

iv. Receive continuous feedback from your customers regarding your products and services.

Club Mahindra’s Holiday Experience profilers (HEP) aim to provide instant response to customer feedback at its resorts. The HEP’s are touch screen kiosks set up at the company’s resorts in Goa, Munnar and Binsar. Club Mahindra is probably the only timeshare company with a TV campaign and the only such company in India to have a toll free number for reservations. Club Mahindra has launched an initiative called cruise gallery, which is a tie up with an American company, International cruise and Excursions, to provide its members all-inclusive cruises to popular destinations worldwide.

Coca-Cola India says it trains consumer response coordinators (CRCs), who in turn train their sales teams to understand and implement its global systems. According to Sunil Gupta, Vice-President, Public Affairs, Coca-Cola India, the CRM system generates daily, weekly, monthly and annual reports that keep the management aware of routine and evolving consumer concerns, with management reviews undertaken routinely. Similarly, Chennai-based FMCG company CavinKare Pvt Ltd, meets up with identified members of consumer panels once a quarter for every brand in its portfolio to take first level feedback on user experience or to test a hypothesis based on feedback from the sales force. A consumer durable brand like Videocon or BPL or LG and Style SPA has a number of product categories and could attempt cross selling these products to appropriate consumers who have tried out one products of the brand.

Carlo M. Donati, Chairman & Managing Director of foods major Nestle India, whose consumer-end CRM-driven initiatives include setting up `affinity groups' like the Maggi Club, the Nestle Kitchen in partnership with Online Shopping, Rediffmail, Latest India News, Business, Bollywood, Sports, Stock, Live Cricket Score, Money, Movie Reviews, and Cook-n-Serve interactive cooking demos. Dabur India, which is also now toying with the idea of setting up call centres with toll-free numbers or interactive Web sites or both. "The problem of the consumers being too many and too scattered remains. But we do recognise that CRM is an emerging industry trend, the effort would be to provide a platform to the consumer to get closer to the company and encouraging her to offer solutions, feedback and suggestions,'' observes Sunil Duggal, Chief Executive Officer, Dabur India.

CBS Batch 2016-18 : Story for the year 2017- from its student

Article by : Shalini Singh, Student Batch 2016–18

We have all heard that ‘Management studies is not only about getting the job’. Management study builds your personality and helps you learn how to tackle various jobs at one go with diligence and responsibility. For us this experience of management studies have been like a roller-coaster ride with tremendous pressure, different roles to play, and to keep up with the pace at class and other co-curricular activities we were involved in.

This year brought in amazing experiences starting from the opportunity to listen to Prof Vijay Govindrajan’s Strategy Edge seminar at J W Marriott, Kolkata organised by Confederation of Indian Industry in January 2017 on his best-selling book 3-Box Strategy. We were five students selected to represent our college to this seminar. Following this our trip to IIT-Kharagpur Global Entrepreneurship Summit (GES 2017) on February 2017 where we stayed 2 days in the KGP campus and got the chance to broaden our network and experience the fest organised at a global level by the students. This learning was taken by us and applied in the 1st International Conference on CICBA 2017 which was conducted in Calcutta Business School in March 2017. We, students, volunteered the same and participants, volunteers, cultural-program participants and guest-speakers made it a huge success. Thus, the first quarter of the year was full of academics and lots of opportunities for Batch 2016-18 students and ended up with internship offers in the hands of students by March end.

The second quarter of the year was a completely different phase where we were exposed to learn corporate culture by working in the companies as a summer intern. Our internship period was from April 2017 to June 2017. Students did their internship in companies like Ernst & Young (EY), Berger Paints India Ltd, Britannia Industries Ltd, Kotak Mahindra Bank, ICICI Securities, Edelweiss, Cox & Kings etc. It was an exquisite experience for all of us. We successfully completed our internship project and now we were equipped with industrial experience to add to our profile.

The third quarter of the year was again full of excitement since we were back to our classroom training and hostel. We had to choose our specialization subjects as we were offered dual specialization so we had to make our choice and initiate our domain knowledge learning. This term was exciting to everyone from the academic point of view as we were learning the subjects in which we were interested to advance in our career. Professors from IIM were visiting faculty for some subjects of HR and Finance. The end of the term examination concluded on 23rd September 2017 and we were all set to go for the International Study Tour to Malaysia sponsored by our college. It was a 7-day study tour planned to make us equipped with the international business practices and corporate and education culture.

The fourth quarter of the term started with full of positive spirit and enthusiasm after an end to an excellent trip to Malaysia which was full of experiential learning and excitement. With the introduction to subjects like International Finance, International Management, Service Marketing our Term 5 classes were full of learning opportunities from the faculty of the college as well as faculty from abroad like Prof Kalyan Chakravarty and Prof Prithwiraj Nath. After our mid-term examination, we were taken for ‘Outbound Leadership Practicum’ to Manali in October 2017 for 7 days during puja vacation. This was an ultimate experience where we were marked by ‘Travel arc’ our trip planner on every activities/task we were given by them to do. Our tasks were designed in a way to give shape to the leadership capabilities in us and make us realise our strengths and weaknesses. We did the treasure hunt in the jungle at night, camping in the forest in day-light, we lived in tents, struggled with cold, we did river-crossing, Burma-bridge walk, zip-lining, rappelling etc. The trip concluded with a lot of learning about our inner strengths and weaknesses. I was among the four Research Associate appointed by the college at the end of our first year of PGDM program in July 2017. So I was involved in research work in finance domain assisting my faculty guide Prof Indranil Ghosh and our principal Dr Tamal Dutta Chaudhuri. I along with my colleague Sayan Satvaya wrote a research paper titled ‘Establishing the relationship between Business Efficiency and Business Sustainability- A Study on Indian Companies’. We participated in the 3rd International Conference on Economic and Sustainable Development in Mysore at SDM Institute of Management. So we travelled to Mysore in November 2017 represent our college and present our paper at the conference at SDMIMD, Mysore. We were obliged to hear from the eminent speakers who gathered from around the world to deliver there thought in respect on the topic of the conference. Almost all the paper were from the PhD students and only 4-5 papers were there from management students. We learnt about the contribution of researchers to our society and the need of good research work to be done with the fruitful recommendation to the Indian industry for a sustainable growth. We presented our paper and explored Mysore concluding our trip to Karnataka from Bengaluru airport to Kolkata.

In this way year 2017 concluded with a lot of experiential learning and industry exposure. With this, we are looking forward to the year 2018 with lots of hope and expectations since it is the outset stage of our career which has to be initiated with placement offers and apply our learning in the field of work with diligence and responsiveness.

With Warm Wishes.

Happy New Year to all!

Survival of the fittest: Sustainability the biggest Challenge

Article by : Prof. Sanjana Mondal, Assistant Professor, Calcutta Business School

Natural selection is the idea for survival is not only true for species but also for the value offered in the market by its producer or manufacturer. Species that acquire adaptations that are favourable for their environment will pass down those adaptations to their offspring, similarly if the producer fail to adapt the changing environment of business and adjust themselves they will be out of the rat race. Eventually, only manufacturers/producers with those favourable adaptations will survive and that is how the offering and marketing concepts changes over time or evolves through speciation, i.e. generation of newer form of ideas, concepts, forms etc.

We often mistake by understanding “natural selection” and easily mean really is, "fittest" that means the best physical specimen or evidence of the manufacturer/ brand/product or service that is only those with the strong capital, best network, best strategy, best manpower , huge market share etc. will survive in nature or natural business environment.

But that is not always the case. The products/services/ brands/companies that survive are not always the strongest, fastest, or smartest or the best shape, size, looks, design, priced etc. Therefore, "survival of the fittest" may not be the best way to describe what natural selection really is as it applies to evolution. Rather “survival of the fittest” necessarily means the degree of adaptability that leads to sustainability.

The two biggest unexpected failure of the market leaders Kodak and Nokia could site a perfect example in this context. Kodak the leading film manufacturer just washed off the market not because of its competitors or not because they did not had the capacity to fight back the competition but because they were unable to capitalize on the invention for fear of cannibalizing existing product sales. They were resistant to change in the filmless digital technology. Though its digital camera invention was held back but because of management’s concerns about the negative impact on film sales they could not bring that out in the market. They actually failed to feel the changing pulse which Sony perfectly did. When Sony launched a filmless digital camera in 1981, fear permeated Kodak’s executive suite. Specifically, over the next decade, Kodak invested approximately “$5 billion—or 45% of its R&D budget—in digital imaging,” according to a 2005 Harvard Business School case study. Unfortunately, with disruptive technologies such as digital cameras, the firstmover advantage is too great for late entrants to overcome. By the time Kodak realized that their razor-blade business model was dead, the horses were already out of the barn. The company was unable to catch-up to the competition.

Similarly for Nokia, its demise in a short span of time less than even five years is a prime example to learn form. It’s a perfect example that reflects the fatal consequences of adaptation failure or inability to react to upcoming innovation from outside industry. The sudden downfall of the top rank dominant phone company aroused interest among researchers to find the answers for the questions like how did it happen? And can this happen to others as well? After the extensive research there are five major factors that came out as the relevant factors but most important connect between them is again indicating towards adaptation failure.

Therefore sustainability is the biggest challenge, survival in short run does not ensure fitness. Fitness in long run can be achieved only through adaptability and hence that survival is sustainable. Cadbury is the perfect example that explains this theory.

Importance of SHE : She walks, She inspires, She leads

Article by : Mr. Harsh Bansal, Student Batch 2017–19, Calcutta Business School

India is my country, my motherland (Bharat Mata). I love it and I am proud of it. Everyone says this thing but do they really mean it? It is doubtful. This doubt arose in my mind due to a conversation between 2 ladies who were upset because in their family a baby-girl was born. After seeing their expression I was shocked. On one side people says Bharat Mata ki Jai and on another side they say girl child is a liability.

India is the land of Traditions, Conceptions, Misconceptions and a lot more. Here there is a common misconception among many families that the Girl Child is a liability or a punishment or a curse to the family.

God has given life to nature and human being. Each and every birth of life brings happiness in surroundings then it may be birth of human or animal or environment. Child is a gift of God and only some human are blessed with it. Then either a baby girl or a baby boy S/he should be welcomed with a lot of happiness.

India is a religious nation which too much believes in God. Lakshmi Maa - the goddess of wealth, Saraswati Maa - the goddess of education and Durga Maa - the killer of evil. In India where on one side a girl child is considered as Goddess Lakshmi but on the other side it is considered as a liability or as a curse to the family. There is a lot of misconception in people that a girl is a liability to the family. When we worship a goddess with high respect and devotion then we should be happy at the time of birth of the baby girl.

Times waits for no one. Times have changed, we are moving into a new era, where we are achieving and developing drastically. But the only thing that remains the same is the way daughters are looked down upon in the society. Women are always considered to be inferior to men. She is always looked down upon, while the son of the house is considered to be the asset or gift or treasure or diamond for the family.

A girl has to face many challenges in her life starting from she has to bear the pointing fingers of society which are always ready to degrade her moral and image. She has to listen the scolding of her family and relatives for one or the other reason. Then next is she may have to sacrifice her studies due to low income of family as girl child’s education is not considered important because after marriage they have the job of becoming house wife.

I considered Dowry as one of the many causes for exploitation of women. Dowry custom has been a curse in Indian society. It has proved to be a greatest curse for the poor classes of India. Sometimes the girls commit suicide when their in-laws persecute them to bring more and more money from their parents. Sometimes the greedy husbands along with their parents also kill their wives, when they are not given huge dowry. From the birth till death girl only sacrifices & suffers pain.

Today we are in 21st century; girls are progressing in each and every field. We have so many examples where women have proved that if they are given an opportunity they are no less than any man. Kalpana Chawla, Saniya Mirza, Siana Nehwal, Phogat Sisters, Mary Kom, Pratibha Patil, P.T Usha, Kiran Bedi, and many more. The list will be endless of the girls who have proved their mettle in their respective arena. Girls are equally talented and if compared in many fields much better, superior and well ahead of men. Women are treated equally with men. Now women are free and are liberated from their ancient roles as housewives.

However in some places thousands of females are dehumanized by whoredom and therefore the trafficking of girls and youngsters. It exploits and violates the rights of girls within the developing world. Sexual exploitation, which incorporates sex commercial enterprise, temporary marriages, and sexual violence like rape and sexual harassment, has increased throughout the twenty first century and has become a huge concern. It has been rightly said that the condition of a nation can be judged by looking at the status of its woman.

As people say God could not be everywhere so he created women to play his different roles in form of your mother, sister, daughter, wife or a friend. So that's why she holds multiple avatars. Respect her and love her that is what just she needs from you nothing else.

Many people think Girl Child is a boon or blessing to them but many still think that she is a curse to them or their family. But they have proved that they are equal in every sphere of life and have reached the skies of success. Today is the high time we should raise our voice against the evil misconception that are against the girl child. Our little contribution will support to save a girl child. And make her feel that she is a boon, not a curse to the society and realize their family the importance of her.

Financial Inclusion in India: Initiatives and Achievements

Article by : Prof. Paromita Dutta, Assistant Professor, Finance, Calcutta Business School

With the progress of the Indian economy, especially when the focus is on the achievement of sustainable development, there must be an attempt to include maximum number of participation from all the sections of the society. But the lack of awareness and financial literacy among the rural population of the country is hindering the growth of the economy as majority of the population does not have access to formal credit.

RBI has been pursuing the goal of financial inclusion for a long time. RBI’s financial inclusion efforts can be traced back to the 1960s when the focus was on channelizing of credit to the neglected sectors of the economy and weaker sections of the population. While the Government of India nationalized the banking operations of few commercial banks in two tranches in 1969 and 1980; RBI also took initiatives like laying down priority sector lending requirements for banks, Lead Bank Scheme, establishment of Regional Rural Banks (RRBs-1975-76), Service Area Approach (1989), Self-Help Group Bank Linkage Programme (1989-90), setting up of Local Area Banks etc., all aimed at making available benefits of banking services to the masses.

The penetration of financial services in the rural areas of India is still very low. The factors responsible for this condition can be looked at from both supply side and demand side and the major reason for low penetration of financial services is, probably, lack of supply. The reasons for low demand for financial services could be low income level, lack of financial literacy, other bank accounts in the family, etc. On the other hand, the supply side factors include no bank branch in the vicinity, lack of suitable products meeting the needs of the poor people, complex processes and language barriers. On the supply side, absence of technology was a major impediment as it restricted expansion of banking services to far flung areas of the country comprising of 600 thousand plus villages. In the absence of technology, developing a cost-effective delivery model also remained a challenge.

Since 2006, RBI has adopted a planned and structured approach to address the issues of financial inclusion. RBI’s approach has been to focus both on the demand as well as on the supply side. This has in a large way been possible due to the availability of technology and its gradual adoption within the banking processes.

Some measures and consequent achievements which have been taken by RBI are given below:

• Institutionalization of the framework of Banking Correspondents (BCs) has been a major step towards enhancing access of banking services. RBI advocated a combination of ‘Brick and Mortar’ structure with ‘Mouse and Click’ technology for extending financial inclusion in geographically dispersed areas.
• The banks were mandated to open at least 25 per cent of their new branches in unbanked rural centers. Taking into account the difficulties encountered by common people in meeting the ‘Know Your Customer (KYC)’ requirements for opening bank accounts, several measures were taken.
• RBI has granted in-principle approval to some entities to set up differentiated banks namely “Small Finance Banks” (SFBs) and “Payments Banks” to further accelerate the financial inclusion process in the country.
• Banks in India have been mandated to set up Financial Literacy Centers (FLCs) for extending financial literacy.
• No-frill accounts introduced by RBI in November 2005 to provide access to basic baking services to financially excluded peoples.

Banks issue Kisan Credit cards (KCCs) as smart cards to the farmers for providing timely and adequate credit support from single window banking system for their farming needs.

• RBI also issues General Purpose Credit Card (GCC) which facilitate credit up to Rs.25000/- without any collateral requirement for rural and semi urban people based on assessment of household cash flows. Now as per the revised guidelines in Dec.‟2013 under this approach bank also fulfill Non- farm entrepreneurial credit requirement of individuals (e.g. Artisan Credit card, Laghu Udyami Card, Swarojgar Credit Card, Weaver‟s Card etc). There will be no ceiling on the loan amount as long as the loan is for the purpose of non-farm entrepreneurial activity and is otherwise eligible for classification as priority sector.
• The SLBP or Self Help Group – Bank Linkage Program has been the major institutional based innovation in India for enabling access and covering the gap of reaching financially excluded population of the country in the last two decades. In this model, the banks involve themselves with a group of local people with the idea of enabling them to pool up their savings. The same is deposited with the bank against which the bank also provides a certain amount of credit facility. The group takes a decision to whether to lend to any member of the group. The bank provides the framework, accounting services and support to the group to manage their deposits and lending.
• One of the most remarkable developments in terms of innovation in order to harness the full power of technology, the banks have tied up with mobile operators to provide financial services like bill and utility payment, fund transfer, ticket booking, shopping etc through mobile banking. Some examples of this model are m-Pesa by Vodafone and Airtel Money.
• In some states, the state government has taken initiatives for providing kiosk based model for access to financial services. Also banks have used the technology to enable their ATMs to virtually act like a 24x7 branches.
• In Aadhar enabled payment services, any Indian citizen having an Aadhaar number updates his account with the same. All accounts having aadhaar number updated are to be reported to RBI, which in turn reports it to various government departments.
• Some of the leading banks have come up with this concept where there would be an online system with chat facility assisting the person to make use of various electronic machines for depositing and withdrawing cash and cheques, which can be termed as Branchless Banking.

Table 1: Progress made under financial inclusion plans – as on September 2016 (Scheduled commercial banks including RRBs)

Particulars Year ended Year ended Half year ended#

March 2010 March 2016 September 2016

Banking Outlets in Rural locations – Branches 33,378 51,830 52,240

Banking Outlets in Rural locations – Branchless mode 34,316 534,477 537,609

Urban Locations covered through BCs 447 102,552 91,039

BSBDA-Through branches (No. in million) 60.2 238.2 247.4

BSBDA-Through branches (Amt. in ` billion) 44.3 474.1 537.9

BSBDA-Through BCs (No. in million) 13.3 230.8 247.8

BSBDA-Through BCs (Amt. in ` billion) 10.7 164.0 181.1

BSBDA-Total (No. in million) 73.5 469.0 495.2

BSBDA Total (Amt. in ` billion) 55.0 638.1 719.0

OD facility availed in BSBDAs (No. in million) 0.2 8.0 8.4

OD facility availed in BSBDAs (Amt. in ` billion) 0.1 14.8 18.1

KCCs -Total (No. in million) 24.3 47.3 46.4

KCCs -Total (Amt. in ` billion) 1,240.1 5,130.7 5,543.4

GCC-Total (No. in million) 1.4 11.3 11.5

GCC-Total (Amt. in ` billion) 35.1 1,493.3 1,613.2

ICT-A/Cs-BC- Total number of transactions (in million) * 26.5 826.8 550.6

ICT-A/Cs-BC- Total amount of transactions ( in ` billion) * 6.9 1,686.9 1,199.2

Source: Report on Trend and Progress on Banking in India as on half-yearly ended September, 2016

References:

1. https://rbidocs.rbi.org.in/rdocs/.../MFI101213FS.pdf, Financial Inclusion in India – An Assessment, assistance provided by Shri M. Sreeramulu, AGM, DNBS.
2. https://iimb.ac.in/research/.../WP%20No.%20474, Financial Inclusion in India: Select Issues, Working paper no. 474, August 2014.
3. https://rbidocs.rbi.org.in/.../PDFs/FII240916C9952578..., Financial Inclusion in India – The Journey so far and the Way Ahead, Address delivered by Shri S. S. Mundra, Deputy Governor, Reserve Bank of India at the BRICS Workshop onFinancial Inclusion in Mumbai on September 19, 2016.

RURAL ELECTRIFICATION CORPORATION – A GOOD BUY?

Article by : Prof. Tamal Datta Chaudhuri, Principal, Calcutta Business School,

Rural Electrification Corporation has a net worth of Rs.33326 crore, has a turnover of around Rs.23000 crore and a net profit of around Rs.6200 crore. It has a Price/Book value per Share of 1 and a P/E multiple of around 4.64. It has healthy track record of dividend payment and consistent profitability.

Figure 1 indicates that from 2014 to 2017, the trend line is flat, and after trending for some time, prices have fallen. It is trading way below the 200 DMA (red) and 100 DMA (blue), and the current price has intersected the 30 DMA (green) from above. The stock is currently in a bear grip and for me, it is good time to enter the stock.

Figure 1



From an oversold position, Figure 2 indicates that MACD is still giving sell signal and RSI went below the 30 level. It is an ideal time to buy the stock. Parabolic SAR also is giving buy indications. We will never be able to time entry into a stock, but given the indicators, the current price looks attractive for buy.

Figure 2



Figure 3

Supply Chain Management Beyond 2020: Implications for Talent Acquisition

Article by : Prof. Sanjib Biswas, Assistant Professor (Area: Operations Management), Calcutta Business School

Supply Chain Management has been playing a pivotal role in enabling organizations to gain competitive advantage for last few decades. Irrespective the nature of business, organizations have recognized the importance of achieving excellence in supply chain management. However, the future supply chain leaders shall need to take appropriate strategy to sustain in VUCA world wherein organizations need to handle with intelligent supply chains while striving equilibrium among triple bottom lines. Future supply chains needs to counter disruptions from natural disasters to the global credit freeze, adapt to rapid and critical changes and be capable to promise. In true sense this transformation calls for forward thinking spread across a multi-year horizon starting from today. Success of supply chain operations beyond 2020 shall largely depend on how fast they respond to the market needs even before it arises through disruptive innovations and supreme level of transparency and connectivity among the partners. Doing such, organizations can ensure real time visibility across all nodal points in a supply chain or extended enterprise per se and in effect, can reduce time to market, capital expenditure and mitigate risks. In this context, Jeff Dobbs, global sector chair, Diversified Industrials at KPMG, mentioned

“Moving toward a demand-driven supply chain is probably the single most important step a global manufacturer can take today. When implemented well, a demand-driven supply chain establishes a responsive flow of product all the way from the end customer up to the furthest upstream supplier. The demand-driven supply chain is more responsive to changes in customer behavior.”

However, it posits a significant challenge as far as acquisition of talent is concerned. Along with need to grow at a faster rate with disruptive innovations, organizations find evolving nature of job roles and skill requirements. The recruiters are confronted with the challenge to design competitive job descriptions in tune with changing nature of business operations particularly in the domain of supply chain management. Next generation supply chains expect that employees need to be aligned with the broad strategic requirements of the organization, adaptable to new technologies and build requisite futuristic skill sets for remaining relevant and competitive.

Rodney Apple, founder of the SCM Talent Group. Employment agency in Asheville, North Carolina mentioned that

“Many students coming up through our educational ranks don’t even know what supply chain is or they perceive supply chain as a blue collar industry where you either drive freight trucks or load and unload them at a warehouse dock….. Many companies haven’t taken the initiative to develop best-in-class talent acquisition resources and programs. Companies that perform the best are the ones that treat the recruiting department like a strategic, value-added program versus a low-level, tactical HR cost center. In addition, many companies are being too strict and inflexible with their hiring requirements. Instead of defining the job when they write out their job descriptions, they focus on defining the candidate by listing out a ridiculously long and unrealistic list of skills and qualifications that the “ideal candidate” must have to be “qualified”.”

Over the last two decades, organizations have witnessed enormous changes in the way the supply chain are being managed. With the development in information and communication technology (ICT) area, organizations, particularly supply chains have provided with unprecedented opportunities. We are experiencing Industry 4.0 now which has redefined business operations as it advocates for human-machine interactions and rapid digitization. Development of smart cities, increasing use of Internet of Things (IoT) in managing business operations, sensors, smart objects and networks have led to smart and intelligent supply chain management. Supply chains are flooded with data and being operated by automated machines and instruments. The point is how one can draw actionable insight out of this gigantic amount of data in structured, semi-structured and unstructured format and provide innovative solutions for meeting customers’ needs. In addition, designing and understanding automated operations and managing them, clearly demands for advanced skill sets, flexibility and innovative minds. The supply chain managers no longer needs to manage materials and fund only, they need to know how to use information as a strategic asset, they need to manage people as well as machines, they need to understand untold requirements of customers and subsequently translate them into technical requirements for designing, developing and delivering appropriate solutions to customers. In other words, supply chain professionals should inculcate creativity and advanced analytical capabilities in themselves. In this context, Jim Rice, deputy director of MIT’s Center for Transportation and Logistics, contended that,

“We often think about cool and sexy technologies changing our supply chains, but it really looks like the work we have been doing in supply chains forever, basically doing things that reduce costs, cut cycle times and/or improve quality. A lot of time people expect supply chain innovation to disrupt an industry but 98% of the time, the process changes are not nearly as disruptive as the smartphone was for the mobile phone world. Instead, most of the innovations in the supply chain give you incremental improvement and are what Clay Christensen calls sustaining innovations…. Companies may need people with different skills – for sustaining innovation, you need people who can refine a process, finding improvements on an ongoing basis. It’s a different kind of person though who can completely re-vision the supply chain process, seeing the possible big changes. They tend not to get caught up in what won’t work, but instead can see what could work. Both are needed, but the latter are needed for disruptive innovation.”

Further, while you are operating with data in a shared and connective manner, question of security and privacy also demands attentions. Researches are being made significantly in the area of cryptography. Of late, we have witnessed increasing use of the crypto-currency aka Bitcoin while transferring funds. The Blockchain technology is re-defining supply chain operations. Some of skill sets which would be desirable for supply chain professionals in addition to fundamental knowledge on supply chain management are: artificial intelligence, machine learning, deep learning, cryptography, digital manufacturing techniques, cloud computing, ERP based operations, Big Data management etc. In fact, it’s not the tool or technique, rather, it’s the human capability to design, develop and manage those tools and techniques which will decide the success or failure or supply chains, more comprehensively organizations. Hence, proper talent acquisition shall be a key factor. In this context, it is also not desirable to forget the lessons learnt from the Sociotechnical Systems approach to organizational development developed by Eric Trist and his colleagues at the Tavistock Institute. For acquiring appropriate talent, organizations need to develop their future employees. Hence, the role of HR managers as well as supply chain managers would be very critical tomorrow in a sense that, they will not only be required to spot and acquire requisite talent but also they will have to predict talent requirement for future operations and gear to develop that.

References:

1. Deloitte Survey (2015) “Supply Chain Talent of the Future: Findings from the Third Annual Supply Chain Survey”.

2. Kate Lee (2016) “Hiring Supply Chain Talent: What to Look For”

3. Kate Lee (2014) “ How to solve the supply chain talent crisis: a supply chain recruiter shares his ideas”

4.Gary Forger (2017) “Next Gen Supply Chain: The Next Gen Interview”, an interview of Jim Rice, deputy director of MIT’s Center for Transportation and Logistics.

5. Beth Platow (2015) “Talent-retention and succession planning for the supply chain”

6. Biswas, S. and Sen, J. (2016). “A Proposed Architecture for Big Data Driven Supply Chain Analytics”. The IUP Journal of Supply Chain Management. XIII (3), 7-33. DOI: 10.13140/RG.2.2.21458.96966.

**IMPORTANCE OF BRANDING AND BRAND MANAGEMENT IN 21st CENTURY**

Article by : Dr. Suman Kumar Dawn, Associate Professor, Calcutta Business School

Branding or Brand is considered important not only for companies but they carry equal importance for customers or consumers also. From consumer or customer point of view, brand becomes important for various reasons. Brand for a customer will indicate commitment towards quality from sellers there by reducing time spent in coming to a purchase decision. Brand for companies will indicate a sort of benchmark in quality as well as customer expectation, a point of differentiation from competitors and a steady stream of profit.

Normally we associate branding from point of view common mass; and products or service displayed in malls and supermarket. However there exists another market where branding is equally important and that is business to business market (B2B). This is referred as corporate branding, which is again a challenge as decision making process for purchase order is different compare to individual customer. Here survival of organization as well as individual will be at stake. The key lies in developing a brand for corporation.

During the past decade, we have experienced dramatic changes in our world socially, economically, and politically We also experienced major re-engineering of large firms and the evolution from the traditional corporate structure to the virtual corporation. Modern globalized, technology driven world has thrown new challenges to branding. Customers/consumers have more access to information than ever before. Internet has become a strong tool through which product information proliferate raising expectation bar for companies. Companies have responded to this challenge by exploring new avenues to showcase their products. Like for example; sponsorship of events and teams or association with social cause.

In a given market, innumerable products and services are offered by different companies. The identity developed for this product and services over a period of time, through marketing strategies, sturdy performance etc is referred to as brand. A stage is reached where brand become synonymous with product e.g. - coffee-Starbucks, Nescafe, Amul, Maggi etc. This process is called strategic brand management.

With all these changes, it is clear that we are facing a new world order, a new way of running businesses, and a new way of living our personal lives. From a business perspective, the following are dramatic changes that have occurred in the past decade:

I. The pace is faster.

II. Businesses are instantly connected to their customers, suppliers, and distributors.

III. Globalization has produced a truly global marketplace.

IV. There is so much information available that corporations need to continually interpret it and turn this into useful “intelligence” for their corporation.

Brand Management after 1950

In the 1950s, consumer packaged goods companies like Procter and Gamble, General Foods and Unilever developed the discipline of brand management, or marketing as we know it today, when they noticed the quality levels of products being offered by competitors around them improve. A brand manager would be responsible for giving a product an identity that distinguished it from nearly indistinguishable competitors.

This required an understanding of the target consumer and what we call a "branded proposition" that offered not only functional but also emotional value. As long as the brand was perceived to offer superior value to its competitors, the company offering the brand could charge a little more for its products.

In the 1950s and 1960s, brands like Tide, Kraft and Lipton excelled in marketing activities (see above gallery), setting the benchmarks for all brands today. This marked the start of almost 50 years of marketing where "winning" was determined by understanding the consumer better than your competitors and the getting the total "brand mix" right. The brand mix is more than the logo, or the price of a product. It's also the packaging, the promotions, and the advertising, all of which is guided by precisely worded positioning statements.

But in the early 1990s, things started to change. The previous commoditization of product quality was followed by an almost equal push for build real brands. One by one the big retailers started to realize that they had an opportunity to also play the branding game and that by selling more, higher quality, but particularly better-branded products, they could not only dramatically improve their margin mix, but that they could raise the profile and reputation of their own brand as a whole. Therefore, retailers like Tesco, Waitrose and Sainsbury started hiring marketers from their suppliers like Unilever and P&G and today these companies and their portfolio of brands enjoy equal brand loyalty than any of the manufacturer brands they carry.

To build a strong brand, the marketers need sufficient expertise to impress people (reputation) and enough awareness (visibility) to achieve their regional, national or international ambitions.

There are five things that marketers can promote their product’s reputation:

1. Make expertise relevant. Promoting products or services may not be enough. Marketers need to understand the challenges of their target audiences face and communicate,.

2. Conduct research on target client: Proper research can provide true information that marketers need to make better decisions and address the challenges that are most important to prospective clients.

3. Be a customer, not a salesperson. They position themselves as customers, freely giving away knowledge and making themselves visible across multiple channels—in online search, social media, conferences, books and more.

4. Make expertise visible. Today's busy professionals access information through a variety of channels, so marketers’ must deliver their thinking in a variety of ways, such as educational blog posts, articles, videos etc.

5. SEO (Search Engine Optimisation): SEO has become a formidable marketing tool that gives a measure of control over how searchers find you online. By using SEO best practices marketers can promote content that people want to read that keeps them coming back for more.

Service Quality – An Important Strategic Tool in Academics

Article by : Prof. Pinaki Ranjan Bhattacharyya, Associate Professor, Calcutta Business School

Quality has become an important strategic tool in the modern world as it ensures the viability of a business. Some prominent definitions include ‘conformance to requirements’ (Crosby, 1984), ‘fitness for use’ (Juran,1988) or ‘one that satisfies the customer’ (Eiglier and Langeard, 1976). Though initial efforts have been made to define quality in various forms, the present meaning of quality is meeting or exceeding customers’ expectations. Service Quality definition came into light when Parasuraman, Zeithaml and Berry (1985) emphasized that quality of manufacturing industry is largely different from services industry due to its inherent characteristics of intangibility, heterogeneity, perishability and inseparability. They stressed that services vary in their degree of intangibility with respect to lack of physical attributes of the actual service (outcome) and the lack of physical evidence of the process. Higher education is increasingly being recognised as a service industry. Therefore, this sector is emphasizing more on meeting the expectations and needs of its participating customers, that is, the students. Accordingly, Higher Education Institution's (HEI’s) therefore, try to assign more time and resources to enhance the quality of their pedagogical skills backed with industry exposure wherever necessary and practice to make them more interesting and application oriented, as perceived by the students. Management, as a stream of Higher Education and training has also acquired new dimensions in the last few decades. Since time immemorial, Indians are known to possess people, trained & well equipped with knowledge & intellect to tackle the problems which they face in the business world. Since B-schools are also a part of this service process, Indian B-schools are also likely to deliver the optimum in terms of quality. Moreover, globalization & liberalization has widened the scope and has encouraged entrepreneurs to venture into this industry to consolidate more in terms of business prospects rather than a social responsibility. It is in this context that the question of service quality comes into mind as education is primarily perceived by the stakeholders as a service sector. The challenges of operations and maintenance of quality has brought the B-Schools to a competitive level to showcase their ability in developing centres of excellence. But of late, Management Education is at the crossroads in terms of occupancy level as the number of seats on offer has increased significantly and several institutes at different tiers of B-Schools in India have not been able to train their students meet the requirements of corporate world. This is because, most of these Institutes are not focusing on Quality and excellence to identify a niche area which will differentiate them in terms of performance of their students at various corporate houses. A rigorous planning and strategic effort with an innovative curriculum from the educational institutes is the order of the day to create a brand in imparting quality education which may successfully help the industry in overcoming this problem.

• Parasuraman A, Zeithaml V A and Berry LL (1985). “A Conceptual Model of Service Quality and Its Implications for Future Research,” Journal of Marketing, 49(Fall), pp 41-50
• Eiglier P & Langeard E (1976) ‘Principe de Politique Marketing Pour les Enterprises de Service’, working paper of the Institute d’Administration des Enterprises Université d’Aix-Marseille
• Three Experts on Quality Management: Philip B. Crosby , W. Edwards Deming, Joseph M. Juran, Total Quality Leadership Office, 1992

Is Rudeness is the new habit in our society?

Article by : Prof. Mukta Mukherjee, Assistant Professor, Calcutta Business School

The old proverb is that the habits die hard. Usually, an education brings some humbleness and politeness in a person, provided that the education is true in nature. Here true education does not mean in literal sense that whether the person has an education degree and to what extent but to what extent is that has been absorbed in true sense. As there is another proverb that empty vessels sound too much.

I will try to illustrate the above discussion with few facts that I have faced and led the readers decide who they consider educated in true sense and whether they consider a person polite behavior as their weakness. First, when I was almost in completion of my high school in a very reputed girls school in Kolkata where they charge exorbitant tuition fees for students and admission is difficult to obtain in such a school, a student was asked to get a duster from another class when the teacher found that the duster is not available, she flatly refused. On second occasion, when I was abroad to pursue my higher studies another Indian student who had already completed his Doctorate degree and on that occasion his parents were visiting his graduation ceremony made a visit to my apartment. While comparing notes on lifestyle of India and USA, the cold temperature of Delhi and USA were being compared. Then his mother stated that at-least it was a relief that she was getting warm water to do the dishes, and both son and father laughed that they at-least do not have to the dishes there because of the presence of their mother both in USA and India for his father(an IAS). Further, the son emphasized the fact his mother does not know what is a Doctoral Degree as she herself does not possess one. On a third occasion, I had seen the best student of our batch who had just got a tenure track Assistant Professorship job blurting out to my immediate advisor in a department talk that as he is not yet succeeded to a Professorial Position he does not know what is a Professor as such?

As all of knows that whatever goes around comes around also. The teachers in some case can also be rude too. In my opinion the situation is worse in that case as children imitate their parents we imitate our teachers consciously or unconsciously (as they also help to develop our up- bringing or develop our nature). This is purely mainly because in any educational institution the teacher and students spend a considerable time. I remember the Calcutta University Topper in Economics who was supposed to take some of our finance classes on monetary specialization, came and after self-introduction made a point that all the bright students have brain drain to either Delhi School of Economics or to Jawaharlal Nehru University and only the mediocre or below mediocre are remaining behind. Also, his immediate advisor of Doctoral degree was frustrated that the level of education in Calcutta University is comparable to that of Municipal Corporation School. I remember when I had to face an interview for my research job in Delhi the director learning that I had stood 8th rank in in http://M.Sc among 200 students in our batch, remarked that absorption rate of Economics in Calcutta University is that of a species.

The only hope that gives me when I saw that another male Chinese student who was very bright and couple of batch seniors wanted to pull my bag being a lady. His wife was a scholar from London School of Economics and he ultimately got a placement among the top university of China. The children’s in the street whose parents have a hard time to make their ends meet are trying to study on their own. Their so called tutor is just few years above their age is teaching them the study material. Although, the lights are not enough for them to study and can harm their young eyes when they are studying. Let’s, not forget that not all of us have the luxury to study and can enjoy our childhood. When you give them sweet or toffees they are very happy and have learnt to say thank you in many occasions unlike some of the adults who seek help from you to cross the road but do not say a thank you for the gesture.

I am a strong believer that a person politeness should not be considered his or her weakness. Therefore, if we are giving our sit to a senior citizen or our ex-teachers it should not be laughed out at either end. If we start take things for granted it usually blast at our face. At least a nice gesture should not be taken for granted then rudeness will become the alternative norm in the society. A tip I which is usually given to the job market candidates in best universities while hiring is that a thank you note should be written to people whose campus you are visiting. The department observes that how many of the fly-out candidates (people who are in the final round usually not more than three) write a thank you note. The purpose of a fly-out is to see whether a candidate should be absorbed in the campus as such. The small things make a big difference in a life. When life is short as such let’s make merry and enjoy it as such.

Marketing in 21st Century

Article by : Dr. Suman Kumar Dawn, Calcutta Business School

Marketing in the 21st century is very different from its early beginnings. Today's marketers have more choices in terms of support, media opportunities, and communications. They also have more competition from varied sources, especially as the Internet has made it possible for companies around the globe to compete virtually. The following are the major trends; shifts & challenges that the marketer and business people will need to take into consideration for formulating their Marketing strategies.

More Creative Options / Be Different

Technology has offered not only more options for sharing marketing messages, but more selections for creating these messages as well. Today's marketing personnel can use a range of tools to enhance communications through graphics, sound, and movement. The future will belong to those who manage uniqueness in their projects by being different. There is no point in trying to imitate others. In the current scenario, it is enough to be what you are and bring out the best in you. In the same way, companies that are different and innovative will be successful.

More Consumer Choices

More consumers’ choices in the 21st century mean more competition for businesses from many sources. The Internet, in particular, now allows even the smallest organization to establish a regional, national, or even international presence. Competition now comes not only from the business across the street, but also from across the world.

More Communication Choices

Marketers making the best use of social networking, online communications and digital opportunities are building bridges and connections that will prove fruitful in the coming years. Embracing new and emerging technologies hopefully rather than fearfully will position their organisation for the future rather than relying on out-dated marketing models that worked before but that are being quickly overtaken by those more cost effective and real-time. The 21st century offers many choices for marketing communications. Companies still have apply the traditional tools, such as newspapers, radio, and television, but also have a wide range of online tools, including social media.

Social Media Streamlines Word-of-Mouth

Word-of-mouth has always been an important factor in successful marketing efforts, but social media makes this method even more effectively. Consumers have the ability to interact with millions of people in the 21st century, in sharp contrast to the days when information sharing was minimal.

Digital revolution and 21st century have made companies fine tune the way they conduct their business. One major trend observed is the need of stream lining internal processes with the focus on cost reduction through outsourcing. Another trend observed in companies is, encouragement to entrepreneur style of work environment with glocal (global-local) approach. At the same time, marketers of companies are looking forward to building long term relationship with consumers. Marketers are looking at distribution channels as partners in business and not as the customer. Ultimately, successful marketing is about identifying a target market, understanding its needs, and communicating the business' compelling messages through multiple channels. These marketing messages all convey how consumer needs can be met by the business' products and services.

Sustaining Development of Libraries with TQM approach

Article by : Mr. Atanu Ganguly, Assistant Librarian, Calcutta Business School, Kolkata

Introduction

Library in the 21st century has started to focus towards customer satisfaction which can be done only by providing quality products and services to its customer. Every organization in present scenario can survive only by continuous development of their product and services. Library by nature is committed to provide quality service to its customer and this can be done by applying tools of total quality management. The application of total quality management can change the thought process of every library and ensure right things are done in right way and at the right time. Here in this paper we are going to discuss various components of total quality management and how it can benefit library and its users in the long term.

Concept of Total Quality Management:

Total quality management is simply the process towards the attainment of excellence by creating the best possible attitudes to achieve customer satisfaction by efficiency and effectiveness. It is a philosophy of thought that is for continuous improvement through participation at all levels of functions in a process. Oakland (1989) defines “Total Quality Management (TQM) is an approach to improving effectiveness and flexibility of a business as a whole. It is essentially a way of organizing and involving the whole organizations, every department, every activity and every single person at every level. TQM ensures that the management adopt a strategic overview of quality and focus on preventing rather than inspections”. Total quality management is a combination of three words Total+Quality+Management as follows:

Total: Everyone in the organization participates in creation and maintenance the quality of the services and the products offered.

Quality: Organization develops a standard policy or systems focusing on meeting the need and recognizing that customer perception identities quality.

Management: The system and the people are put in harmony towards continuously improvement of the process in order to achieve the best results.

Why TQM in library?

TQM represents a new age in the management of an organization. TQM can be effectively used in providing services to user. Current awareness service (CAS), Selective dissemination of information (SDI), Interlibrary Loan, access to national and international database through internet or other network (like DELNET, INFLIBNET), reprography service, attending reference queries and reference services over phone, fax or personal contact, indexing and abstracting periodicals, subject bibliography etc, all which can be enriched by TQM. TQM can be used in creating information awareness and consciousness among the users and reaching out to the potential users. TQM is at present not emerging as one of the management technique, but also felt very essential by several organizations and disciplines.

Strategy of TQM:

The total quality management assures that in all aspects within the library are organized and involved in maintaining operational policy which in turn can act as a control measure to ensure quality services without waiting for reporting deficiency presented after complaining received from the users or noticed by the committee members. The following steps may be formulated to overcome such situation:

-Spell out a quality policy for library

-Select or re-orient the functional head who is committed to set everything in order.

-Ensure performances from grass root level (from lowest post in library)

-Introduce communicate systems for spreading awareness

-Effort initiated must be continuous in nature.

Implementing TQM in library:

1. Leadership: Library purchase books, journals, other materials from its vendors and also subscribe to various online products and which requires reasonable maintenance and commitment so as to reduce customer dissatisfaction towards it. Quality leadership is perceived when commitment from all stakeholders is encouraged and knowledge base platform is created to deliver improvement in all dimensions. It can be established only when personal responsibility is there on the part of leadership.

2. Commitment: The key factor in implementing TQM is total commitment of librarian. The vision and mission of the library is inducted among the staffs through proper quality policy. Librarian should understand the issues involved and established policies to determine the long term goals. A typical library has the sections cells like acquisition, circulation, technical, reference, online resources, audio-visual, reprographic, documentation etc. and each section should have a policy which will guide and help to carry out their activities efficiently.

3. Recognition & Rewards: Recognition is a motivational process and also acknowledging the contribution of employees. It helps to improve cultural change in the organization and TQM itself is a quest for excellence. Librarian should look that its staffs should recognized for their individual contribution and equal privileges and respects along with other employees of the organization.

4. Education & Training: The librarian should provide education and training for all staff as a part of successful implementation of TQM. It will help them to understand the fundamentals of policy and create awareness so that they can help in building a system to achieve the ultimate objective of the library systems. It also develops the knowledge base and required skill that to needed to overcome certain barriers.

5. Customer Orientation: Since library has turn to be a service center, user is actually the customer and to satisfy them is only the main purpose for its existence. By applying TQM techniques library can be enlightened by giving quality service to customer and achieve it by breakthrough performance, invention, innovation and creativity.

6. Team work & Employee Empowerment: A particular work can be achieved more effectively when people work in team. One more advantage is that inter-personal conflicts are minimized and “much more can be gained at less expense”. Another traditionally accepted view is that the people who know most about what is right or wrong in the work are those who actually do the work. The librarian should give both responsibility and authority to the staff thus by empowering them. The most effective method of employee empowerment are the establishment of improvement team and use of feedback of employee suggestion systems.

7. Feedback Mechanisms: For real success of TQM programs feedback from both external and internal peoples are required. Library must take initiative to gain the information from its stakeholders. Library should develop a formal feedback systems and avoid such situation like no complaint-no problems.

8. Statistical Process Control (SPC): Adaptation of SPC in all the activities of library is also a part of TQM as they can help to reach to the root causes of the problems. Librarian should adopting plan-do-check-act cycle to improve the quality continuously as follows:

Plan- what library is going to do?

Do- what library has planned?

Check- on the result of library’s outcome

Act- to modify what library plan to do and ensures most positive result.

Conclusion:

Quality is an important tool for application of TQM in library system. It can be measured, managed and improved the customer satisfaction. TQM introduce a new cultural change which is lively to bring about greater participation of the employee to achieve the goals and objectives of the library. The success of TQM will vary from library to library. Libraries are the suitable to implement TQM for better library environment. It is well known that TQM is a management method by which each and every library can benefit. By formulating a strategic plan method and following it with a commitment to continuous quality improvement, library managers can transform and improve their organizations. The main purpose of TQM is the continual focusing on the users servicing and the satisfaction of their demand.

Reference Source:

1. Negi, Ashok Singh & Srivastava, J. P. (2015). Total quality management (TQM) and its application in academic library and information centers. International Journal in Management and Social Science, Vol.03 Issue-02, (February, 2015), 676-688.
2. Bhatt, S. (2012). Total quality management: An effective approach for library system. International Journal of Information Dissemination and Technology, 2(4), 266-269.
3. Dash, Jyotirmoy (2008). Total quality management: a perspective approach. 6th International CALIBER -2008, University of Allahabad, Allahabad, February 28-29 & March 1, 2008 © INFLIBNET Centre, Ahmadabad, 414-419.
4. Mohanty, R. P. & Lakhe, R. R. (2006), Total quality management in service sector. 2nd ed., Kolkata: Jaico Publication, ISBN 81-7224-953-5