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December 2019

Celebrating 10 Years of Glorious Partnership

Inside Story

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Brand Speak

Eros Group & TCL celebrate 10 Years Partnership in UAE

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Division Speak

Finance & Credit Control

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Event Speak

Deepak Babani: 38 Years of Out of the Boss Thinking


Management Speak rity and I thank them for this. I cherish all the roles, challenges and contests we have had over the years. In the end there are no winners, but only the satisfaction that the game was well played.

Chairman’s Message

From the EVC’S desk

As we prepare to wind up 2019 we not only close a year but also an era where Deepak Babani leaves Eros Group and enjoys his retired life. Deepak joined Eros Group in 1981 and since then has been an integral part of the Eros story. His attention to detail while seeing the bigger picture, business acumen and integrity were some of the key qualities that helped us forge a strong professional and personal bond.

In this issue, I pen my final words for not only the magazine but also for Eros Group. I have decided to enjoy the later years with my family and on other leisure pursuits.

Over the years, the organsiations has faced many challenges but I had full faith in Deepak’s abilities to steer the ship in the right direction. We have grown since our early days in the streets of Deira to the glitzy showrooms of today but one thing he has held dear and that his commitment to both, the owners and the team. As he leaves us we set to welcome Niranjan Gidwani to lead the organisation into the new decade and set a new course for the Organisation in the fast evolving market. Niranjan has been with Eros since 2007 and has the fully support of the Board of Directors and me. I am confident he will with his Management team take EROS GROUP to newer heights of success. Please join me in bidding good bye to Deepak and welcoming Niranjan in his new role.

Yousuf Badri Chairman & Managing Director Eros Group 2

My tenure here has spanned over 4 decades and I can proudly say that I have seen much and learnt much. There have been many ups and downs on this road but the owners have stood steadfast with my decisions and given me the best thing an employee could ask: Freedom to Operate. Mr. Yousuf Badri has not only been a mentor to me but also a friend and leader. I would like to thank him and the family for all their inputs and the debates we have had in steering this organsiation over the years. I would also like to thank the Industry partners with whom I have had interactions. Many of them are my competitors and also friends. I take satisfaction that we were able to manage both our professional and personal lives with integ-

I would like to also extend my gratitude to the Eros family who have faithfully executed my decision over all these years with the utmost commitment. We have had many challenges but I was always confident that a committed and loyal team is the only asset an organisation needs to weather the storm. I could not have asked for a better team, in the past and even today. I hand over the mantle to Niranjan Gidwani, who has been with us since January 2007. He has over the years earned my utmost respect and the full trust of the owners. I am confident that he will take the organisation forward and to greater heights of success as we lead in to a new decade and beyond. The Team assisting him is fortunate to have his guiding wisdom as the new decade brings in new opportunities in UAE. I bid adieu to you all, but you will still see me in the stores and interested in all the new technology, albeit now as a customer! I will continue to remain a well-wisher of this Group which has given me all I could ask for, and more! Thank you for all the memories.

Deepak Babani Executive Vice Chairman Eros Group


Brand Speak

EROS GROUP & TCL CELEBRATE 10 YEARS PARTNERSHIP IN UAE

Erospeak

L to R : Rajat Asthana, AVP, EABG, Harry Wu, GM, Overseas Business Centre, TCL Electronics, Deepak Babani, EVC, Eros Group, Ahmad Badri, Director, Eros Group, Du Juan, COO, TCL Corporation, Niranjan Gidwani, CEO, Eros Group, Carlos Li, GM, Brand Distribution Sales Centre, TCL Electronics and Kevin Wang, Sr. Manager, Brand Distribution Sales Centre, TCL Electronics

L to R: Harry Wu, Deepak Babani, Ahmad Badri, Du Juan, Niranjan Gidwani & Carlos Li

Niranjan Gidwani & Du Juan cut the special celebratory cake.

Deepak Babani welcoming Harry Wu.

Niranjan Gidwani welcoming Carlos Li. 3


Award Speak

Erospeak

A special award was presented to the MAF Hypermarkets (Carrefour) team for their continued and valuable support to TCL & Eros Group since 2013.

A special award was presented to Lulu Group, UAE who have made a great impact on the TCL business since the brand entered their stores in 2018.

E-City is one of the emerging retailers in 2019 and the team received an award recognizing their contribution in the TCL story.

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Al Mazhar Electronics is one of the leading independent partners for TCL in UAE.


Award Speak

Erospeak

TCL recognized many of the overseas partners and their retailers that are reached by Eros Group. Here the award is being presented to Lulu Group, Oman for their long-standing contribution to TCL Oman.

TCL recognized Bahrain retailer, Home Electronics, for their continued support in the Bahrain market.

TCL presented a special award to Freedom Electronics, Tanzania for making TCL strong in the Africa market.

Naeem Telecom, Tanzania was awarded for his continued commitment to TCL penetration in the Africa region.

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Erospeak

Division Speak

MISSION UNO : ENSURING ORGANIZATION’S FINANCIAL STABILITY tion’s financial stability is intact at all times. Recently many press articles have elaborated on not relying on Cheques but conducting business in cash only. Erospeak spoke with Ravichandran Pattabhiraman, Vice President, Finance & Shipping and Dinesh Singh, Associate Vice President, Accounts & Credit Control on the same. Excerpts: Erospeak: Recently many press articles have elaborated on not relying on Cheques but conducting business in Cash only. Do you agree with this? What are your thoughts on the same?

Ravichandran Pattabhiraman Vice President, Finance & Shipping Eros Group The Finance Division along with Credit Control performs a crucial role in any organization. Given Eros Group’s wide footprint beyond the UAE borders, in terms of sale and purchase, the Teams have to synergize efforts to ensure the Organiza-

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Ravichandran: I have seen the press articles but beg to differ from that point of view. In my view, cheques are an integral part of doing business in any part of the world. In the case of these stories, earlier bouncing of a cheque was considered to be a criminal offence and the signatories could

be jailed for not honoring the cheque. Recently, some changes were made to the law where in the entity could pay a small portion and escape the proceedings while the effected company could proceed with civil recovery for the bounced cheque. However what is noted is that criminal charges continue on the entity if the cheque value is more than AED 200,000. Hence, I recommend that cheques are part and parcel of the business to cover the risk. But we need to be more cautious on lower value cheques and enforce prudency and due diligence about the history of customers. To ensure this we rely on our Credit Control team and further mitigate the receivables risk with credit insurance. Erospeak: How does Eros Group prepare for something like this given that we have a lot of channel partners across different industries? Dinesh: Eros Group has a lot of channel partners across different industries. For us to do business on cheque only may not be possible for all the channel customers. We review current market parameters and practice a mixed and current approach to minimize the credit default risk by availing, as Ravichandran said, the services of a credit insurance company. We also liaise with customers and request them to support the credit extended by us through collateral security and bank instruments. We have many internal robust processes also in place to minimize losses on account of bad debts.


Division Speak

Erospeak: Please tell us how Eros Group is poised after the headwinds that have been blowing for the past year? What is your outlook for the next 2 years? Ravichandran: Eros has unique mix of business segments like Distribution, Trade, Retail, E-Commerce, Projects, B2B and etc. This gives us the advantage to withstand any headwinds and provide stability to take the business to the next level. With top class brands in our portfolio to distribute, retail (including E-Commerce), Eros outlook for the next two years is going to be good. The positive impact of the upcoming Expo 2020, not only by increase in Visitors but also in terms of investments will help bring growth in UAE’s economy. The current efforts in providing stabilization in the geo-political situation will add a further advantage of growth for the country and Eros Group. Erospeak: E-Commerce is a fast growing industry. But what has caught the business eye is the equal growth and demand for logistics. Would Eros Group look at this as an opportunity or a threat? If opportunity, how is EROS GROUP poised to leverage this? Dinesh: E-Commerce is the fastest growing industry and it has given a new dimension to the logistics and supply chain management, in particular, the ‘last mile’ delivery to the customer. At Eros, we look at this as an opportunity, because of our presence in distribution for 50 years; our main strength is excellent infrastructure, IT setup, robust

Erospeak

business processes and a highly skilled team. We have leveraged these strengths to develop an end-to-end supply chain model for E-commerce. Erospeak: Also in your own words please outline the challenges you face and how we are preparing to overcome the same. Dinesh:The major challenge we face is customer expectation and keeping pace with fast changing technology. This can be attained with improving our ability to attract frontline team members with technology skills. Ravichandran: The major challenge is the mitigation of various risks – the ERM (Enterprise Risk Dinesh Singh Management). As the Associate Vice President, Credit Control process of mitigation of Eros Group ERM, Eros always looks for digital transformaFurther, Eros always works closely with tion, automation of various processes, data customers, listens and transforms the analytics and also takes advantage of Arservices we offer, optimizes operations tificial Intelligence wherever it is required. and empowers employees to ensure the This will help in stimulation of the market transformation and take the business to situation for growth. the next level.

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DJB Speak

Deepak Babani: 38 Years of Out of the Boss Thinking

Erospeak

Mr. Yousuf Badri, Chairman & Managing Director, Eros Group with Deepak Babani.

Deepak Babani welcoming Mr. Nasser Badri, Director, Eros Group.

Niranjan Gidwani gives the welcome note.

A special face-to-face interview was done between Niranjan Gidwani and Deepak Babani. The audience was also invited to ask questions.

Mr. Yousuf Badri presented Deepak Babani a special award to mark 38 years of out of the boss thinking. Also in the picture Mr. Ahmed Badri (left), Mr. Mohammed Badri (2nd from left), Mr Nasser Badri (2nd from right) and Niranjan Gidwani (right). 8


DJB Speak

Erospeak

A select group of managers put up an impromptu performance bidding adieu to Deepak Babani.

Deepak Babani gives his thank you note and shares with the audience some key moments in his 38 year journey.

Eros Group Directors, Mohammed Badri (l) and Ahmad Badri (r) pose with Deepak Babani at the event.

L to R: Niranjan Gidwani, Anita Gidwani, Jayshree Babani and Deepak Babani.

The Babani Family.

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Product Speak

Samsung Galaxy Fold

Samsung has always put powerful technology in the hands of those who demand more. The Galaxy Fold comes with stunning 7.3-inch Dynamic AMOLED display and Infinity Flex Display that defies expectations. Fold is an excellent performer with a whopping 12GB of RAM and 512GB internal storage capacity to help juggle having multiple apps open on screen at once. Driven by a 4380mAH solid dual battery life allowes multitasking, helping you achieve more and gets you through your day. The folding masterpiece has six brilliant cameras to capture the impossible, no matter how you hold it. Take epic photos of breathtaking landscapes or zoom in to get up close. Swap between the 16MP Ultra-Wide Camera or the 12MP wide-angle and telephoto cameras to broaden or narrow your focus with a tap. The Dual 10MP selfie cameras equipped with advanced human segmentation technology, detects faces that bring out the beauty in your selfportraits. A revolutionary foldable design means you can carry around a tablet in your pocket and get plenty of work done along the way. The Samsung Galaxy Fold, unfolds power and flexibility all at one go. The Galaxy Fold is available in “Space Silver” and “Cosmos Black”.

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Erospeak


Product Speak

Erospeak

TCL T8M TCL presents the latest T8M Android TV. A TV that is bright enough to make HDR pop greater pictures, enhanced image details by bringing vivid colors to life. The TCL 4K Ultra High Definition TV T8M nails the elegant metallic frame with super narrow bezel to convey a hint of beauty and serenity greater then imagined. The TV supports Dolby Audio sound technologies that deliver crystal clarity and realistic surround sound to make the consumers’ great viewing experience even better. The TCL Android TV takes TV interaction to a whole new level with the powerful Google Assistant that can interact with the viewers and answer questions, control other smart devices in the home and even schedule your day! Enjoy multiple smart functions like Chromecast, Google Play, Google music and lots more. TCL’s popular inbuilt Netflix app and dedicated remote button is also featured in the range. In addition, the built-in Bluetooth technology allows you to enjoy favorite music on your compatible Bluetooth device. Finally, the TV manages connectivity well with built-in Wi-Fi, 2 USB ports, HDMI connectivity and much more. The TCL T8M comes in 50-inch, 55-inch, 65-inch and 75-inch option and available at all leading stores across the UAE.

Sonos Move Sonos Move marks the next evolution of smart speakers, with Auto TruePlay spatial tuning, a rugged design and built-in virtual assistants. It’s an excellent indoor-outdoor audio device and also a portable Bluetooth smart speaker weighing only 6 pounds, but packs a big sound. Sonos Move is the cooler version of all Sonos speakers. Its matte black finish and grille combination is stylish enough for a modern space without hiding its purpose. It’s a true progression from the classic Sonos design, tall, broad and oval in shape. The Move’s battery life lives up to 10 hours on a full charge. The Move also switches to suspend mode when it’s not being used, allowing it to preserve battery life for up to 120 hours. “Built to go anywhere with you, but just as happy at home, the Sonos Move may be the only speaker you need.”

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Campaign Speak

Erospeak

Hitachi and Sonos released their new campaigns for 2020.

erosdigitalhome.ae launched its Same Day Express Delivery.

Y A D E SAM

S S E R P EXDELIVERY Terms and conditions apply

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www.erosdigitalhome.ae

Eros Group released a special commemorative book marking 10 years partnership with TCL.


Erospeak

People Speak

Ahmed F.K. Alabadla Human Resource Department

Eros is a great place to work as it provides a balanced work environment and a platform to showcase your skills to move up the ladder. Eros stands with their employees in both good and difficult times. Every month, Eros Group conducts a breakfast session with CEO, where select employees are welcomed to share opinions, concerns and make suggestions with an open heart. The roots of all goodness lies in the appreciation for goodness, this is how I define my Eros Family.

Egoigwe Okechukwu

Sohel Prodhant

EABG

Logistics & Warehousing

Four years ago, I traveled from Nigeria to UAE for a job search and I’m privileged to get a job in Eros Group. Eros equipped me with proper training for the job and strengthened my confidence. Eros Group operates professionally and even looks after the needs of its employees. This is an organization that practices equality and cares for its employee irrespective of their nationality. Eros is indeed a great place to work, learn and grow!

Sukanya Madhusoodhanan Finance & Shipping Department

I have been associated with Eros Group since 5 years. Eros Group offers a joyful and stress-free work environment which encourages us to give our best at work. I was given the opportunity to learn, explore and grow in my career. It’s a great pleasure to be part of this family. I’m enjoying my work at Eros and I can proudly say that I am working with a brand that has been immensely successful for their work ethics. Indeed, it feels great to work for a company that truly cares for their employees. I look forward for many more years with Eros Group.

It has been 10 years working with the Superbrand, Eros Group. Eros Group provides a great work environment for the team and regularly rewards them for their hard work. With the guidance of my superiors, I managed to overcome all my challenges and kept myself motivated to continue to give my best. The organization has furnished me with great experiences and work processes which gave me the opportunity to polish my skills. I would like to thank Eros for changing my life for the best!

Angielyn Balbacal EABG Billing Department

Being associated with Eros Group has been a great opportunity for me since it is one of the successfully established company in the UAE. The experiences that I acquired while working in Eros means a lot to me, as Eros Group provides a family like environment that look after us with great care and concern. I learned a lot from my superiors and team members which enhances my knowledge to excel and achieve my goals. I’m really thankful to Eros for giving me this opportunity and hoping for more blessings and success throughout my journey. 13


Mind Speak

Erospeak

Niranjan Gidwani

CEO Eros Group

REVISTING INDIVIDUAL AND COLLECTIVE MISSION, VISION AND VALUES A professor puts large rocks in a jar in front of his class and asks if the jar is full. His class says yes. Then, he puts smaller pebbles in the jar and shakes it until the pebbles are distributed among the rocks. Again, the class says the jar is full. Then, he pours sand into the jar, filling it to the top. It appears filled to capacity until the professor pours in a bottle of water. The professor asks his class if he had poured in the sand first, would there have been room for any of the bigger rocks? 14

This metaphor is an old story made classic by Stephen Covey’s 7 Habits of Highly Effective People. The rocks are the big, important tasks that impact your growth. The pebbles are the smaller tasks of lesser significance, but still necessary. The sand is non-essential tasks. The water is distractions. In order to do the important, critical work, we have to prioritize it. If we fill our time with the less significant tasks, it becomes nearly impossible to fit in the higher priority items. It sounds simple enough: Categorize your

work by importance, then do the big stuff first. But it’s not that easy. Smaller tasks can be less stressful and have a quicker payoff than working toward a long-term strategic goal. The busier we are, the harder it can be to prioritize our work. But, that is exactly when it is most critical. Whether we are at an early stage startup with a skeleton crew or part of a bigger team, “responsibility creep” can expand the scope of our job. Sometimes, that can be a good thing. Taking on more responsibilities can be a good way to learn new


Erospeak

Mind Speak

Categorize your work by importance, then do the big stuff first. skills and show that we are ready for a formal promotion. But much of the time, an expanded role occurs out of necessity, due to resource constraints, a reorganization, or skills gaps on the team. Being overburdened at work has become the new normal. Over half of companies struggle with overwhelmed employees. Workers have longer hours, fewer vacation days, and a later retirement than other similarly wealthy countries. Millennials, now the largest percentage of the workforce, believe that they should be working all the time. Burnout seems inevitable. With a finite amount of time and resources, we have to consider what work has the highest impact. Low value work bogs down our days and can get in the way of growth and progress. By getting rid of low-value work, we can spend more time on the things that matter, leading to increased productivity and better outcomes for us and our company. Interestingly, almost all of us, when talking about work, believe in the philosophy of working for a job, a salary, a business, money, assets. Not many of us, in our concept of work, factor in working towards better health, working towards better relationships, working towards more ethical business decisions, working towards a better life-play-family-work-money balance. This probably is the reason why homemakers carry the unfortunate tag of not really working.

our future by a singular objective: more and more assimilation of material objectives. While this is absolutely a must, and essential, it needs to be a by-product of a better thought-out personal mission and vision statement. A document which points each of us towards a true North.

We spend a lot of time and effort drafting and re-drafting our respective organisations mission, vision and values. Yet, very few of us set ourselves a strategy guided by our personal mission, vision and values, which provide each of us a moral compass as to how and what we do when we set out to achieve our own, and in turn, collectively our family, or organizational, or society, or country goals. This is a very crucial aspect which builds into the success of not only an individual but

“The UAE is approaching its 50th anniversary in 2021 and we want it to be a year of fresh starts and new beginnings.” HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of UAE and Ruler of Dubai

also his / her contribution to an organization’s strategy, and towards meaningful contribution to society at large. Absence of such a personal mission, vision and values statement could be the reason why corporate fraud is mounting. 23 years ago, i drafted my own Values, Mission and Vision statement, training under Dr Steven Covey. It took me a few years to keep tweaking it. This has been my beacon in all personal objectives and strategies as well as in the Corporate and Societal role I wish to play. This not only helps me in driving a better future for myself, my family and the organization, but also helps in doing a periodic review of my life, looking back at the past, knowing I gave it my best with full integrity and commitment. Sometimes we all tend to drift, we all have our phases of highs and lows, we all have our spells of stress, but that statement of mine (laminated and always with me) has always guided me in the right direction. I may or may not turn out to be the best example of Corporate or material success, every decision of mine may not turn out benefitting me or my organization, but I do have a beacon pointing me continuously in the right direction. As we enter 2020, and many organisations look to a better year for business and set out on a new course for Expo and beyond, if we must get it right, it is incumbent upon each one of us to commit to our own personal mission, vision and values. The UAE Government has announced that next year, which will also be the year of Expo2020, the country wishes to start setting its goals towards the next 50 years. As HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of UAE and Ruler of Dubai said, “The UAE is approaching its 50th anniversary in 2021 and we want it to be a year of fresh starts and new beginnings.” As residents of this country, I would request each of us to commit to our own goals, and in 2020, follow His Highness’ advice to seek our own fresh starts and new beginnings as we join the country in contributing to chart a new decade and beyond.

As Individuals, we always end up gauging 15


Brief Speak

Erospeak

Eros Group Best Employee - 3rd Quarter Every quarter Eros Group recognises key individuals who go above and beyond their work to deliver on the Group’s key commitment : Customer Delight. In October end at the quarterly Management Review Meeting a special session was held to recognise these individuals for their contribution in delivering on the Eros mission during the 3rd quarter.

Dubai Customs Client Recognition Award Eros Group has been a longstanding and committed client of Dubai Customs. In November, Dubai Customs recognised Eros Group for their ethical practices and commitment to working with statutory bodies.

E-Live Stress Management Campaign Work - Life balance is key to employee satisfaction. At Eros Group we recognise that and organise various sessions under our E-Live program to ensure the teams work and manage stress in the correct manner. Special sessions are conducted monthly and also include Yoga, Blood Pressure check ups amongst others.

EDITORS: J I T E N D R A B H A V N A N I , AY S H A H Q A M R U D D I N LAYOUT & DESIGN: W I S D O M C O N C E P T S

Profile for Eros Group

Erospeak-Issue 23  

Erospeak-Issue 23