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VOLUME– IV ISSUE- 01


Editorial

……………………………………………………… ……………………………………………………… In low growth economy, compa- “School For a Fool” by Dhruv Kadi. Dear Readers, As we have entered into a nies are left with two choices- ei- an. Adding to the fun, we present new year with hope and ambi-

ther cutting cost or re-strategizing

another round of quiz for those

tions, it is the time to work hard

the whole business. Sudeshna

who love tricky challenges.

and fulfil the expectations. Amidst

Naskar analyses how in low

the freshness and excitement of

growth economy or in bad times a

the present edition. Your sugges-

the new season we present you

business can benefit from explor-

tion, inputs and comments are

another edition of the Domina-

ing one of these options in achiev-

always welcome to improve our

tion.

ing profitable and sustainable

efforts. Happy Reading!!

This edition features arti-

growth.

cles from a diverse set of topics.

The story does not end

The cover story for this month is

here. This edition covers an inter-

on a trending subject “Social Me-

view of Mr Pranav Malhotra. Pra-

dia Marketing” written by Niloy

nav is a 2003 pass out alumnus

Ghosal. The author analyses

from DoMS and is currently work-

some of the major challenges

ing with AkzoNobel India Ltd. We

faced during online marketing

also have success story of Ronnie

campaign and suggests ways of

Screwvala, the founder and CEO

improvement. We have another

of UTV Group in this edition.

very interesting article by Gaurav

These experiences will prove to

Mittal where he aptly describes

be useful for future managers.

how India is struggling to get 8-9%

Domination has always

GDP level and efforts by govern-

cared for creative minds. This edi-

ment.

tion we have a beautiful poem

02 | Domination, January 2014

We hope you would like

Department of Management Studies, IIT Roorkee


Contents 04

Faculty Adviser Dr. R.L. Dhar SOCIAL MEDIA MARKETING - SIMPLIFIED

08

Team DoMination

16

06

Mehul Lala Arun George Nilaya Shankar Sudeshna Naskar Rohan Krishnan

How can India revert back to 8-9% growth levels..????

Chlorophyll

09

Vignesh B Apurva Sood Gaurav Mittal

Qutopia

Designing Team Ashish Kumar Jaiswal

12 14

Dhruv Kadian Rakesh Ranjan Kumar

Roorkee- 247 667, India

DoMS da Evince

Success Story

DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

Tel: +91-1332-285014, 285617 Fax: +91-1332-285565 Email: domination.doms.iitr@gmail.com Website: www.iitr.ac.in/departments/DM/Pages/Index.html

15 Micro Finance in India

18

For private circulation only

26

Spotlight 03 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Cover Story ………………………………………………………

SOCIAL MEDIA MARKETING - SIMPLIFIED Social Media is the new place

1. ORIGINAL CONTENT

ship in the long run.

to market our products. We all know

It doesn't matter if you are

2. SHORT AND CRISP POSTS

it. We all are trying our hand at it.

just starting out with the page or if

With our world getting busier

But what matters is how we execute

you are handling an already estab-

every day, people actually have less

our plan, our marketing campaign on

lished page, original content never

time and patience, and if the posts

the web. We may have it all planned

goes wrong. Whenever your page

are too long, there is a high chance

out, all set. And it may be a really, I

pops up on someone's news feed

that people might skip reading it al-

mean really great idea for a campaign, but if it does not make an im-

and that someone decides to check your page out, the first thing the per-

together. The content of the post should be solid and it should be laid

pact at a suitable time, or if it does

son notices is the posts on your page.

out in simple words in form of a

not identify well with the audience,

If all that you have are some shares

short sentence or a small paragraph.

all the efforts go down the drain. Fa-

from other pages or links to some

Content is very important. So it’s al-

cebook as a social media marketing

articles, photos or videos, that per-

ways a boost if the content is short,

platform has come a long way. With

son thinks, you probably do not have

crisp and to the point. No beating

more and more metrics and features

anything original to post or share. So

around the bush.

introduced, we have a perfect set of

why will he like your page? or share a

tools at our disposal, to create an

previously shared content which he

amazing, enriching and engaging

can get from any other place? Origi-

Quotes are the most shared

campaign. Let us take the RV sale

nality of content is what draws peo-

posts on Facebook. These are very

and rental business for instance.

ple to like, share and comment on a

effective in making an emotional

Here are a few steps as to how a RV

page. And it goes a long way in en-

connect with the viewer. They are

Dealership can market itself on Face-

gaging your subscriber and in in-

short, visual (if posted in form of a

book.

creasing your visibility and viewer-

picture) and helps establish a rela-

3. QUOTES

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 04 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Social Media Marketing-Simplified

……………………………………………………… . tionship with the viewer at an aes-

tion of page promotion. It has now

specific Facebook posters custom

thetic level.

included the clause which enables

made for the occasion and even

boosting up a certain post as well.

putting them up as a cover picture

Making use of these facilities help

for that time period works wonders.

4. GET MORE VISUAL Like I said, the attention span

increase the reach of the post and in

of the public is very small, so one has

turn the page also gains more visibil-

to make the most of the small win-

ity. The price for promotion is very

During the festive times eve-

dow of opportunity. Posts should be eye catching. They should make peo-

low and the progress can easily be monitored. The small write up along

ryone looks for an extra something. Coming up with additional incentives

ple take a closer look. So the trick

with the promotion option also plays

like say a “customer of the season”

here is to intrigue. Post relevant pho-

an important role. Make it keyword

or most “popular page visitor” tag

tos with the write up. It not only

reach to help propel the post more.

accompanied by suitable gifts or

brightens up the page but also grabs

10.ADDITIONAL INCENTIVES

perks. This can really boost up the

people's attention. Go for relevant

7. PROMOTION VIA ANOTHER PAGE

page views and help score some

videos, which people will enjoy and

To kick start a new page, the

brownie points with the customer/

share. Instead of trying to explain a

page can be promoted using an ex-

viewer.

point through text, use Infographics.

isting page which is already well es-

Another important thing that needs

It is more visual and gets the point

tablished and has a lot of traffic.

to be taken care of is the frequency

across easily and in a fun way.

Routing the posts on the new page

of the posts. One should not keep a

via the popular one easily magnifies

huge gap between consecutive posts.

he reach of the post and makes more

Also posts with too little gap can di-

people aware of the new page.

vide the post viewership. A balance

5. TIMING THE POSTS This is another very important factor. The content may be

needs to be maintained. Depending

superb and engaging. But due to changes in the Facebook algorithm, if

8. COMPETITIONS It is a great way to engage

upon the amount of content generated, posts can be made daily, bi-

it is posted at an odd hour, its visibil-

people on the page. The more quirky

weekly or weekly.

ity reduces to a large extent. So

and out of the box and at the same

These are only but a few tips which

based on the target audience, the

time easy to participate and accessi-

can help iron out the wrinkles in our

best time needs to be highlighted

ble the competition is, the more the

Facebook marketing plan. This is very

and posts made during that time to

popularity. Something like a caption

generic, I agree. But based on your

get the maximum reach. People who

contest for a picture featuring an RV

product/ service you can customize

are looking to buy an RV are people

or a photography competition featur-

your social media campaign and see

who generally work on weekdays, so

ing the participant's best RV experi-

its magic unfold.

the lunch hour is a good time to

ence can work out well in this regard.

share. Similarly lazy Sunday afternoons or early evenings are also a

9. SPREADING THE CHEER

By-

prime time with high Facebook

Making an extra effort to

traffic. So, one should schedule the

spread the cheer and joy during holi-

Mr Niloy Ghosal

posts accordingly.

days like Christmas, Thanksgiving,

DoMS, IIT Roorkee(2013-2015)

6. PROMOTE YOUR PAGE

Halloween or New Year helps create

niloy.ghoshal13@gmail.com

Facebook provides the op-

a caring image for the brand. Making

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 05 | Domination, Januray 2014

Department of Management Studies, IIT Roorkee


Perspective ……………………………………………………… .

How can India revert back to 8-9% growth levels..???? Indian economy is passing

the Indian economy. On internal

growth levels-:

through one of its toughest times in

count, reasons such as high Current

Macro Economic Balance

the recent past. The growth in the

Account Deficit (CAD) in Balance of

first quarter of 2013-14 fiscal slipped

Payments which had ballooned to

zoomed to unacceptable levels in the

to 4.4% of Gross Domestic Product

danger mark of 5% of GDP last fiscal.

last two fiscals. Until or unless it is

(GDP) which is slowest for the period

Inflation is another big headache,

brought down to manageable level,

of past 10 years. Many rating agen-

reaching levels of double digits in

India is bound to be downgraded in

cies like Moody’s, Crisil have forecasted that GDP growth for the cur-

Consumer Price Index (CPI) which has forced Reserve Bank of India to

investment ratings. India needs to reduce its fuel subsidy burden. Gov-

rent fiscal would be around as low as

increase the interest rates, in turn

ernment of India has taken some

5%. So, now the questions arises

hammering down the growth pro-

positive step by deregulating petrol

what has brought Indian economy to

spects. Domestic savings and gross

and gradually moving diesel closer to

this point from its high growth peri-

capital formation rate have also tak-

deregulation. But recent decision to

od of 2005-10 where it averaged ap-

en a big hit which has an adverse

raise LPG cylinder cap to 12 per year

proximately around 9%

impact on Indian economy. Also, ad-

from 9 is a step in backward direc-

ministrative factors such as corrup-

tion. Retail inflation has also seen the

myriad

tion, bureaucratic inertia, and policy

upward trend which is basically be-

factors responsible for this situation

paralysis have become synonymous

cause of fruits and vegetable prices.

both external and internal. On exter-

with current government of India

Main reason of increase in vegetable

nal count, factors such as 2008 finan-

which has shaken the confidence of

prices despite good monsoon is sup-

cial crisis, sovereign debt problem in

foreign and institutional investors.

ply side constraints. These con-

Euro zone, negative growth in Euro

Following reforms should be under-

straints should be dealt immediately

zone and zero in Japan has affected

taken by India to get back to 8-9%

so that retail inflation can be tamed

growth in

GDP. There

are

India’s

fiscal

deficit

has

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 06 | Domination, January 2014

Department of Management Studies, IIT Roorkee


How can India revert back to 8-9% growth levels..???? ……………………………………………………… down. India also needs to find an-

streamline granting forest and envi-

Government should also promote

swer to its energy security because

ronmental clearance to bring trans-

skill based training through private

crude imports have rocketed the CAD

parency and flexibility in system.

sector and urge them to offer pro-

to new high levels. For this govern-

Government should also replace

ductive job opportunities.

ment has to speed up the process of

Land Acquisition and Rehabilitation

giving new licenses for oil drilling and

and resettlement bill with a new one

exploration and also open up the

as old one is almost 140 years old.

sector to foreign players so that new

India has a lot of potential and if it wants to become a devel-

Energy, power and realty

oped nation and provide employ-

sector are particularly important in

ment to 10 million persons who get

Indian context because these sectors

added to workforce every year then

are going to shape up India’s future.

the growth levels of 8-9% is a neces-

As these sectors are important for

sarily. Government should apply all

There is lot of dearth of in-

the increasing the manufacturing

necessary reforms if it wants to

frastructure in India. India needs

base and India needs to increase it if

achieve its target of 8% growth in the

more roads, airports, trains, cities,

it wants to provide employment to

12th five year plan.

transmission lines, power projects to

its rapidly increasing workforce.

technology can be brought to India. Conducive environment

grow. So, decline in both public and private investment in 2011-12 is a

major sign of worry. Many projects

Skill Development

are stuck because of regulatory clear-

India is young country with

ances or fuel supply problems. Re-

average age of population in mid

movals of these impediments are

twenties. So, it should reap benefits

necessary for the implementation of

of it demographic dividend. It can

infrastructure projects. This would

only do this by enhancing the skill set

help in increasing the manufacturing

of its young population. So, country

base in country.

should focus on opening more and

Government

needs

to

more vocational and training centers.

By-

Mr. Gaurav Mittal DoMS, IIT Roorkee(2013-2015)

gaurav.mittal92@gmail.com

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 07 | Domination, JANUARY 2014

Department of Management Studies, IIT Roorkee


…………………

Chlorophyll

Its wise to learn, its GOD like to create

…………………

School for a Fool

ByMr. Dhruv Kadian DoMS, IIT Roorkee(2013-2015) dhruvkadian7@gmail.com Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 08 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Qutopia ………………………………………………………

It’s Exquizite, Kills your Quriosity and adds to your Quizdom. Need we say more? ‘Qutopia’ – A Utopia of the

best Biz Quiz Tidbits to wreck your brains! Rush in your answers to domination.doms.iitr@gmail.com before 21st February 2014. The winner will have their names published in the next issue. Also, person getting the highest score in the current quarter will get a gift voucher. Answers in the next issue of DoMination.

Section A

(1 Point for each correct answer)

1. Name the recently inducted aircraft carrier in Indian navy and also its old name. 2. Name the bank whose logo has the picture of goddess Lakshmi. 3. X is the chairman of prestigious government organization. X is an accomplished vocalist (carnatic music) and Kathakali artist. Identify X. 4. Name the Indian bank through which only payments can be made to Iran for oil purchase under the new sanctions.

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 09 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Qutopia ……………………………………………………… Section B

(2 Point for each correct answer)

1. Identify the logo.

2.“Every little helps”----- Identify the brand.

3. Identify the Organization

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 10 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Qutopia ……………………………………………………… Answers for December edition

Section A

1.

Bitcoin

2.

K Radhakrishnan

3.

Ogilvy and Mather, India

4.

Artist: Sunil Grover

5.

Jean Claude Van Damme

SECTION B 1. Quikr. AD for its newly launched ‘Job portal’ service. Funda: Sachin’s fans can look for new job post his retirement. 2. Snapchat 3. Elf

Winner of December edition

Ashish K Jaiswal DoMS, IIT Roorkee (2013-15)

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 11 | Domination, January 2014

Department of Management Studies, IIT Roorkee


DoMS-da-Evince ……………………………………………………… Pranav Malhotra is a 2003 batch pass out of DoMS and presently working as Regional Marketing Manager for AkzoNobel India Ltd.

1. Please tell us about your journey prior to joinng DoMS?

am lucky to be associated with all

connect

by

expanding

these great organizations.

through Modern Retail. This has really helped us to come

Ans: Prior to DOMS – I have done

3. How Dulux is maintaining

closer to end consumer and

my schooling from Bal Bharati

growth in this economic re-

give a complete painting &

Public School (Delhi), and Gradua-

cession

Colour solution for his/her

tion in B.Com (H) from Delhi Uni-

brand image over the years?

and

maintaining

versity.

house on a turnkey basis. d.

Strong marketing plans (Both

Ans: Dulux in current scenario

ATL & BTL) & a 360 degree

2. Please enlighten us about

has performed well and delivered

Execution excellence have led

your role and responsibilities

a double digit growth. This all has

to solid performance.

currently?

happened due to following:

a.

e.

Regular Training & capability

Company’s strong belief in

development of employees

Ans: Currently I am working with

giving excellent quality prod-

has played a dominant role.

AkzoNobel India Ltd, as “Regional

ucts at right price. Company

Marketing Manager– North”.

believes in continuous im-

Core

Responsibilities-handling

provement & enhancement

Marketing for North Region and

of Products to cater changing

4. What has been the most chal-

Modern Retail Vertical for North

needs of our customers and

lenging role in your career so

India. Brief about Company -

swiftly acting on competition

far?

AkzoNobel

biggest

moves. We are known for

Paints & coatings company Known

best in class products in paint

Ans: In my carrier so far I have

for its renowned brand Duluxe in

industry and hence we are in

done various Roles – Sales, Sales

India.

a position to charge premium

Operations, Marketing, and Mod-

Prior to this I have a sales experi-

over competition.

ern Retail. All Roles are challeng-

Continuously improving our

ing if done with Dedication and

three lovely companies have not

Distribution network has giv-

enthusiasm,

only made me a good professional

en incremental volumes.

teaches you new tricks of the

Strengthening our channels

trade.

is

world’s

ence with Nestle and Castrol. All

but also a good human being. I

b.

c.

f.

Excellent R&D centres and factories.

since

every

role

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 12 | Domination, January 2014

Department of Management Studies, IIT Roorkee


DoMS-da-Evince ……………………………………………………… cake (and not a substitute of hard . 5. What was the best moment ly cherished. work). Work hard, keep learning, during your stay at IIT Roorkee?

6. What piece of advice would

become Smart and don’t forget to

you like to give to students of

enjoy every moment as these pre-

DoMS?

cious moments will never come

Ans: My complete tenure in

back. Have Fun, Do well.

DOMS is an unforgettable event.

Ans: No Advice- all of you are

My Sincere thanks to all profes-

champions who have made to this

sors and colleagues for grooming

great institute. DOMS IIT Roorkee

me into what I am today. Wheth-

is a great place which will bring

er it was case studies, presenta-

out best in you and make all of

tions, library, Computer lab, Hos-

you proud when you move ahead

tel life to Ganga Kanal, Aarti at

in your career and take competi-

Harkipaudi to patyala lassi, river

tion head on. Just one sentence-

rafting

DOMS...

hard work is the key to success

WOW…. Every moment thorough-

and Smart work is an icing on the

organized by

Henry Ford

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 13 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Success Story ……………………………………………………… Ronnie Screwvala is the founder and CEO of UTV Group which was established in 1990. However, his entrepreneurial journey began

One of India’s leading me-

When he was just 25 years

the entertainment industry from

dia moguls, Ronnie Screwvala’s

old, he started his own cable net-

producing TV shows to animation

story is indeed an inspiration to

work company by the name

and TV commercials; dubbing

many. Ronnie Screwvala is the

“Network”. Ronnie went from

English and Japanese cartoons in

founder and CEO of UTV Group

door to door in his building and

Hindi; creating television channels

which was established in 1990.

convinced the residents to sign up

for various age groups and distrib-

However,

entrepreneurial

for his cable service at a fee of

uting & producing movies. UTV

journey began a decade before

Rs.200 per month. What started

was recently bought over by Dis-

UTV came to life. Ronnie’s father

with just 30 houses spread to

ney and Ronnie is now the Man-

wanted him to become a Char-

buildings in Cuffe Parade, Colaba,

aging Director of Disney UTV- In-

tered Accountant. But, Ronnie

Napeansea Road, Breach Candy

dia.

wanted to start his own business.

and Hanging Gardens. What’s

To keep himself busy while he

commendable was that at that

As he continues to scale

looked for business opportunities,

age Ronnie understood the im-

greater heights in this industry

he took up a job of a copywriter.

portance of good service. He took

and provide quality entertain-

care that he provided family ori-

ment in the form of quality con-

On a trip to England with

ented content with good picture

tent movies (Barfi, RDB etc), he

his father, Ronnie visited a hair-

quality. Not just that, he regularly

also continues to be a role model

brush factory. He bought two dis-

met his customers to understand

for many budding entrepreneurs.

carded machines from the factory

their viewing preferences. He had

for £4,000. He came back to India

the qualities of a great entrepre-

and started his own business of

neur that he is today.

his

manufacturing toothbrushes. The company went on to become the

In 1998 he sold off his ca-

largest supplier of toothbrushes

ble company and established UTV

in the country supplying to the

which to begin with, was a small

top notch brands like Colgate

Production

Palmolive. Ronnie sold the com-

1990. UTV today has ventured

pany in 2004 at a profit.

into every possible direction in

house

in Reference: http://ronniescrewvala.wordpress.com/

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 14 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Regardez I’economie ………………………………………………………

Business in low Growth Economy There is no doubt that world

Business in low growth economy

pany will be reducing its cost but still

today has companies operating at

In low growth economy,

the problem is that customer might

two different levels (low and high)

companies are left with two choices-

be hesitant to buy because by

and two different speeds (slow and

either cutting cost or re-strategizing

waiting more he might get the same

fast) relative to economic growth.

the whole business. Both of them

good at a lower price. Ultimately this

have different impacts. Let us review

may result in far worse situation be-

impact of both of them.

cause in spite of lowering cost it may

USA and Europe’s lower growth is now shrinking developing world’s growth. China’s growth rate

lead to reduced sales.

fell from 10 percent to 8 percent and

Cutting Cost in Low Growth Econo-

the higher growth rate of BRICS

my

countries has come from 8 percent

Re-strategizing the Business in Low The traditional way to cut

Growth Economy

to 5 percent.

cost is to lay off some employees, ask

Many businessmen believe

Although the BRICS countries are

for more concession from your sup-

that crisis is an opportunity in dis-

suffering from ‘Diminished Growth’,

pliers which forces them to cut their

guise and it must not be wasted.

these countries’ large population

cost by laying off some workers and

Many companies believe that crisis is

make it less dire issue compared to

they in turn asking more concession

the best time to increase market

other countries. But still that is not

from their suppliers. This initial cut

share. At normal times an opponent

sufficient as business in low growth

leads all the way down to the supply

will not let go of his market but in

economy is a challenge.

chain and makes the situation worse.

crisis he will be focussed upon saving

Result will be falling prices and com-

his main market and would have no

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 15 | Domination, Jnauary 2014

Department of Management Studies, IIT Roorkee


Business in low Growth Economy ……………………………………………………… objection letting go some market

goods companies or the companies

by moving their product and services

because he will have less resources

who wish to enter in that niche. Lux-

to establish cities. They themselves

and that too directed to save the

ury goods companies such as BMW,

are growing as well as the new cities

main market.

Hermes, GUCCI, Rolex etc have huge

are being built. It is not only an op-

opportunity to capitalize this mega-

portunity for old players but the new

Steps involved in re-strategizing

trend and they are doing the same.

players looking for new market seg-

Cutting off additional luxury giv-

The growth of the wealthy is leading

ment too can use this megatrend to

en to employees.

grow their business.

Leaving the non profitable mar-

to luxury hotels like 4Seasons to decide where to build there next prop-

ket segment and moving to more

erty. Private Yacht companies like

Utilizing the sentiment of green

profitable ones.

Gulf Stream and yacht makers are

global economy

Leaving the non profitable geo-

approaching the super rich. This rich

Most of the people are con-

graphical area and moving to

niche has opportunity for new play-

cerned of Mother Earth and her safe-

profitable geographical area.

ers also who wish to enter in this

ty from pollution. Resource scarcity

Leaving the non profitable prod-

segment with new luxury goods.

and pollution provides excellent op-

portunity for business. General Elec-

uct and services and moving to profitable product and services

Letting off the non profitable customers.

Taking advantage of low labour and capital cost sector of our domestic and international econ-

omies to gain competitive profit advantage. By re-strategizing its business, a company can not only survive in low growth economy but can increase its market share and profit and emerge strongly. There are various megatrends according to which a company can re-strategize itself and achieve new heights in business. Capitalizing on the Megatrends to Re-strategize Business Increasing Number of Riches in Developing Countries Recently the number of rich-

es in developing nations has been increasing that has opened a new window of opportunity for luxury

Re-focusing from Global to Regional

tric launched a program called

to local

‘Ecomagination’ to show how money When

opportunities

are

could be made by solving challenging

abundant, firms move from top cities

global problems. GE ventured into

to second tier cities and so on lead-

solar panel and wind turbine busi-

ing to the rural market in search of

ness to generate other sources of

new markets. Dominos has followed

energy. Similarly Wal-Mart is replac-

the same strategy in India and has acquired huge success. Same strate-

ing its gas-guzzling trucks with fuelefficient vehicles that use 50% less

gy has been implemented by McDon-

fuel. Automobile companies are

alds and Starbucks in Europe to ac-

moving swiftly into hybrid and pure

quire new market. At present time

electric cars and trucks. Any product

when sales are low in low growth

that has potential to reduce the pol-

economy companies can follow the

lution compared to its competitors

same pattern and increase their

has an edge.

growth. Capitalizing the Continued Urbaniza-

Utilizing the rapidly changing soccial

tion

values

Many cities are being developed and

In current scenario the social

new cities are being formed. As the

values are changing rapidly and that

new cities grow they require road,

is leading to separate needs and

energy, water, building, water re-

wants. Recognizing these needs and

source electricity and sanitation.

wants and targeting this group is

Companies such as Caterpillar, General Electric and CEMEX are profiting

very important. For example increasing number of stay-at-home work-

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 16 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Business in low Growth Economy ……………………………………………………… ers .They need some kind of space in

tween buyer and seller is symmetric

ate competitors but pay equal atten-

house, stationery supplies, telecom-

rather than asymmetric. Eventually it

tion to competitors who might

munication equipments and many

will reach to a point where low quali-

emerge from anywhere with an ex-

other things that a marketing re-

ty companies will die quicker. Long

citing new product or business model

search with this group will reveal.

lasting companies will be those that

that delivers lower prices and en-

Digital revolution has led to an explo-

absolutely understand the needs and

hanced quality and convenience.

sion of information and communica-

wants of their customers to do a su-

In low growth

tion channels and small entrepreneurs can use it to reach consumers

perior job than their competitors. So a business must keep an eye on con-

economy or in bad times a business can benefit from exploring one of

and market their offerings. Yelp has

sumer needs and make sure to pro-

these options in achieving profitable

had outstanding success in rating

vide better product that sells itself.

and sustainable growth.

local

restaurants

and

services.

Groupon, a sales-promotion compa-

Utilizing Hyper-competition and dis-

ny, markets local restaurants and

ruptive innovation

service deals to customers.

The digital revolution has not only made customer the ‘King’, but it

Utilizing the Customer empower-

has also disrupted and destroyed

ment and information revolution

many businesses that could be run

The digital revolution has

digitally without market intermediar-

caused a tremendous shift in the

ies. One can get his music without

power relations between sellers,

going to music store, one can down-

middlemen and buyers. In the pre-

load his book without going to book

digital days sellers enjoyed the mo-

store. One can make his travel ar-

nopoly on the product and services. Buyers had a lot of choices of com-

rangements without going to a travel agent today (i-Tune for music, Kindle

petitors but very limited information

for e-books, Travelocity for travel).

on each. A few would rely on family

Today every business needs to con-

reports and opinions but most re-

sider reinventing itself in digital

mained uninformed. Today hardly

terms. Kodak went bankrupt when

anyone buys his car without going on

the digital camera did away with the

internet and surfing automobile web-

need for film. Today store based re-

sites. Customer can read the reviews

tailing is losing its business to online

and opinions of others .The customer

retailing. Every business must adapt

is empowered and he is truly the

and innovate. Existing companies

‘King’ today and information be-

should not only track their immedi-

ByMs. Sudeshna Naskar DoMS, IIT Roorkee(2013-2015) 145arks145@gmail.com

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 17 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Spotlight ………………………………………………………

Winter Internship - a Memoir Winter Internship @ TAJ FALAKNUMA PALACE Hospitality industry is an in-

the city. Hence in order to increase

and Travels Companies etc. I was

dustry which has its own working

the business of the hotel I worked on

asked to choose a management mod-

style and is very unique in its own.

a project headed by Mr. Girish Sehgal

el to implement strategies. I chose Mc

This winter I got a tremendous oppor-

(General Manager of Taj Falaknuma

Kinsey 7S Model and implemented 7S

tunity to work for TAJ Falaknuma Pal-

Palace). The hotel was very costly as

in following manner:

ace, a hotel of Taj Hotels and Resorts

its

group which comes under IHCL(Indian

Rs.32,000 to 1,50,000 per night and

Firstly, start with the state of Andhra

Hotel Companies Limited). Falaknu-

most of the guests are foreign nation-

Pradesh tourism, and then focusing

ma Palace is located in the culturally

als or tourists. So in order to increase

on Hyderabad and Taj Falaknuma Pal-

rich southern Indian city of Hydera-

the business we worked on the con-

ace, comparing it to opportunities

bad .The Palace was built in 1893, and

cept of Destination Marketing Man-

that exist in this region when com-

it is spread over 32 acres. It took Na-

agement. After doing a lot of market

pared to the other successfully brand-

wabVikar-ul-Umra, the then Prime

research and going through many

ed and marketed destinations in In-

Minister of Hyderabad princely king-

research papers we found that the

dia, as listed above. At state level it

dom, nine years to build the Palace. It

concept of DDM led to drastic chang-

should do the following things:

was later bought over by the ruler of

es in places and made them hot tour-

 Should take initiative for the for-

the Hyderabad state, H.H. TheNizam

ist spots. Some of the very well

mation of other tourism organiza-

VI, Nawab Mir Mahboob Ali Khan Ba-

known examples are Australia, Brazil,

tions to further boost Andhra Pra-

hadur, who was recognized as the

Spain, Dubai, Hong Kong, Kerala etc.

desh Tourism.

world richest man in 1930’s. Taj Fa-

Hence we extract those concepts,

laknuma Palace being a heritage hotel

modified it and implemented on Ho-

Tourism Product Development in

situated in outskirt of city has less

tel Level since DDM is a broad con-

order to make variety of world-

scope for business unlike other busi-

cept which needs involvement of gov-

class

ness hotels which exists in heart of

ernment, Other Legal bodies, Tours

room

rates

varied

between

Strategy

 Should

involve in continuous

tourist

attractions.

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 18 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Spotlight ……………………………………………………… At Hotel level:

 It should identify the rich culture

The recruitment process should be

and crafts of Hyderabad, and help

capable enough to hire the cream

motivate the craftsmen to keep

associates from institutions and in-

their art alive.

dustries. HR initiatives should focus

It involves the development in daily

on further enhancing the engagement

activities and procedures that staff

craftsmen and help them show-

within

sustaining

members engage in to get the job

case their unique art, to affluent

workforce cost & productivity and

done. Adding to that hotel should

high end traveler looking for

enabling a responsive system to the

voluntarily participate in the globally

unique experiences, and use

business challenges through opti-

recognized Carbon Disclosure Project

these experiences to help market

mized use of technology platforms.

to demonstrate its commitment to-

 It should work with the identified

through various workshops and train-

Staff

the

workforce,

Hyderabad and Taj Falaknuma

ings. System

wards performance in climate change

Palace as a attractive high end

leisure destination, thus helping

Business excellence should be em-

improve both the guest experi-

bedded in Taj Falaknuma Palace

ence and the profitability of the

through processes and methodolo-

The

property.

gies that enable it to continually im-

Moreover I solely designed the quar-

prove operations and achieve the

terly newsletter for TAJ Falaknuma

world-class

Palace. The feedback I got from GM

 It should organize variety of an-

nual festivals and cultural events backed

mitigation. It should also organize CSR

Shared Values

marquee.

up by outstanding tour-

ism campaigns and promotions.

activities on a regular basis. outcome

was

phenomenal.

was ’the newsletter is too good that

we won’t need any alterations for

Style

IHCL believes Corporate Governance

next five years’. General Manager was

is a continuous journey to provide a

very esteemed by the idea and com-

Revamping the organizational struc-

congenial environment to harmonize

mitment I poured into my work.

ture in order to boost internal as well

the goals of maximizing the stake-

Hence, in the end I would like to say

as external stakeholders. It involves

holders' value and maintaining a cus-

to all of us that don’t leave any stone

providing and maintaining of profita-

tomer-centric focus. The internal au-

unturned in order to leave a positive

ble and healthy relationship with oth-

dit process, through its unique ‘Taj

impression of our college.

er stakeholders like Andhra Pradesh

Positive Assurance Model’, which is

Tourism, Government, Tour and Trav-

an objective methodology of provid-

el Companies, Associates, Customers

ing a positive assurance based on the

Etc. Adding to that structure should

audits of operating units and corpo-

also facilitate quality service controls

rate functions, is a convergence of

which comprises of every effort to

Process Framework, Risk and Control

enhance the service quality of facili-

Matrix and a Scoring Matrix.

Structure

ties and a generally hospitable atmosphere. These measures are meant to

reinforce Hotel’s image as a leading

The Hotel should promote branding,

destination that offers world-class

positioning, communication and hos-

standards of quality, service, and hos-

pitality skills. It should also focus on

pitality.

continuous associate development

Skill

ByPriyadarshi Mayank DoMS, IIT Roorkee(2013-2015) mayank.0088@gmail.com

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | Spotlight 19 | Domination, January 2014

Department of Management Studies, IIT Roorkee


Department of Management Studies, IIT Roorkee

Roorkee - 247667, INDIA Comment/Feedback Mail to : - domination.doms.iitr@gmail.com Contacts: Mehul Lala (+91-9927081098 ) Nilaya Mitash Shankar (+91-9415580227) Follow us :-

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Domination - January 2014