Showing posts with label Management. Show all posts
Showing posts with label Management. Show all posts

Tuesday, March 14, 2017

Success Mantra: Take Initiative & Be Proactive



Today good enough is not good enough. You have to be an expert- the best in your area of expertise and subject. To gain a competitive edge, you need to put in that extra effort.

There are certain traits Companies are looking in their candidates today:

1. Perseverance

It is a difficult world out there. In order to survive this world, you need to take initiative and seize the opportunities that come your way. You need to be tough and go through the struggles effortlessly. As the famous poet Rumi put it, “If you resist every rub, how will you get polished”. You will need to look at problems as challenges and give your best shot at constantly inventing solutions. 

2. Proactivity

Normal is passé. Taking Initiative is the new thing. Companies are looking for candidates who can go that extra mile, make that extra effort and deliver instantly and successfully. In this technology rich superfast business world, you are not only competing with humans, but  also competing with machines and computers so you need to be super quick and come up with progressive problem solving and creative solutions to complex problems.

3. Go-Getter Approach

Life is a race and you have to be in it to win it. Corporates are looking for candidates with passion, devotion and loyalty towards their workplace. In these dynamic times, opportunities are plenty but to seize and realize them one needs to be driven from within. One needs to keep ones spirits high and be an eternal optimist and always remember that behind every calamity lies tremendous opportunity.

4. Creativity

Today, knowledge is available at the click of a button. We are literally carrying the world in our pockets so the need of the hour demands that we think different, invent unique, improvise and customize. Creativity is a greatly valued skill and creative people are always in demand. Being creative involves original improvisation and intuitive imagination. Be creative and you will get the edge that is needed to shine in this world. 

5. Team Player

Companies are looking for team players and team assets. The need of the hour is to align personal values, vision and mission with that of the teams and to align the teams with the companies. Working in teams is a part of every profile and good team players are always in demand. 

By:
Siddharth Anand
Faculty, INLEAD

Monday, March 6, 2017

My Experience At INLEAD


Hi, I am Chandan. I hail from Andhra Pradesh’s port city, Visakhapatnam, where I completed my Bachelor’s in Hotel Management. Moving further I was in search for an opportunity which would be helpful for my personal as well as my professional growth. I was informed by my college about INLEAD in Gurugram. I got to know that INLEAD provides hoteliers with Global Management Development Program which is a short term course which offers international placement opportunities in hospitality sector. Earlier, I thought going abroad would be little tough as it requires some work experience and that would take much time and money as well. Later, with a positive approach I kept my efforts and faith towards having a better career by joining INLEAD.

I was convinced by the advanced infrastructure and quality maintained at the campus of INLEAD. In such a short duration, I was able to brush up my technical knowledge in Food & Beverage Operations as well as in Rooms Division Management. The entire program went on so well including other important modules required in the present market consisting of Retail Management, International Marketing and Global Culture & Ethnicity. The standard maintained by faculty to educate students is also much appreciated. They are the people who supported me throughout the course. They helped me to build up my personal strengths through attending workshops and assigning presentations frequently.

The placement opportunities were with famous brands offering attractive packages in different locations. The Training & Placement team continuously works together to facilitate every student with good job profiles across various sectors. I have got placed in Qatar with Al-Shaya Group which is one of the leading companies in the world. I was very much pleased and happy to get placed even before the completion of my course at INLEAD. I was completely satisfied with the entire program; the way it commenced, the modules covered and also the placements that took place.

I feel proud to say I am a student of INLEAD. I would like to thank entire INLEAD team for providing me with such a great platform to start my career. And, for candidates who are looking for an opportunity to work abroad, I suggest INLEAD will be the best place to go ahead with. The overall experience of mine at INLEAD was very amazing and I am always thankful to everyone behind me for what I am today.

By:
Chandan,
Student, INLEAD


Monday, July 4, 2016

Revenue Management- The Concept


Revenue Management for an organization means to Increase Profit, utilizing market demand and converting the demand in revenue maximization.

This utilization can be from:

1- Resources available are limited or fixed
2- Resources are perishable (as Vacant Seat in airline flying today cannot be used tomorrow)
3- Customer willingness to pay a different price for the same product/service (there will be  a difference between booking done in flight six months before & 1 day before the departure, here comes the role of demand and supply)

The strategy of Revenue Management is to focus on price rather than costs when balancing supply and demand. It suggests exploiting each products value cycle & continually re-evaluating revenue opportunities.

The strategy of Revenue Management is to focus on price rather than costs when balancing supply and demand. It suggests exploiting each products value cycle & continually re-evaluating revenue opportunities.

For Effective Revenue Management an organization must have:

1-Segmentation (Know your Customer based on Pricing) a different rate must be charged to Leisure guest and a Corporate Guest 

2-Price Fencing, it must be done properly in order to sustain for long term in market as the price must be according to market it may not be more or less.

Online Travel Agents (OTA) are considered as Frenemy for hotel business as they provide the business in the time of low occupancy as well as they cut the profit margins of hotel at the time of peak season, Here the part of Revenue Management plays effective role of taking decision how to deal  with situation and raise more revenue.

Tools for Revenue Management

A-STICKER 
Sticker is related to pricing strategy of Revenue Management, Sticker must be placed according the market condition as how the organization wants to capture the value of product or service. It must be marked different for Superior, Inferior & Substitute products or Service.

B-STOCK
Stock is the Holding Inventory with the company. The Revenue Management focuses on controlling & effective utilization of its Inventory as an when demand of market.

C-MARKETING
Organizations performance is mainly dependant on the way of product or service presented to the consumers by the Marketing, an effective marketing promotion helps to maximize revenue & increase the loyal customer.

D-MODE
Mode of Distribution plays a vital role in Revenue Management. It decides proper Channel of distribution that is cost effective for both organization & customer. For example a customer purchasing online is more Price conscious than a customer doing offline shopping so the channel of promotion & distribution must be through e-business or Web portal.

During the time of Recession Revenue Management played a vital role in effective utilization of available resources by the means of Cost Optimization.

“Poor marketing can damage an organization, poor pricing can damage an entire market”  -Colin Jasper.

-Dixit Mohit Tejkumar,
 Student, INLEAD 

Tuesday, April 26, 2016

A guide to Disaster management

Disasters can strike anywhere and at any time. The recent Japan quakes and the droughts in India are testimonials to this fact. Now, though we have a little control over the timing and occurrence of the disasters, all we can do is curtail the disaster’s impact and Disaster Management is aimed at achieving just that.

DISASTER MANAGEMENT explains how to overcome and get cured from disasters like floods, droughts, cyclones, earthquakes, tsunami, landslides, bomb blast, fire, accidents, poisonous and chemical disasters.


The term disaster owes its origin to the French word “Disaster” which is a combination of two words ‘des’ meaning bad and ‘aster’ meaning star. Thus the term refers to ‘Bad or Evil star’. A disaster can be defined as “A serious disruption in the functioning of the community or a society causing economic, social and environmental losses which are uncontrollable for long period of time.

The basic supplies needed in a disaster kit are: -

Water: You should have a three-day supply of water on hand, or about one gallon per day per person. If your water is not already treated with chlorine, add some household bleach to the bottles. It should be stored in a cool, dark place for no longer than six months.

Food: Put aside at least three-days worth of food in your disaster kit that is non-perishable and don't need refrigeration. Also, choose foods that don't need heating. Avoid foods with a high salt content as they will make you thirsty.

Foods that are recommended are: Candy, chocolate, tea, coffee Sugar, salt, pepper, Canned juice, milk, soup Canned fruits, meat, vegetables Peanut butter, jelly.

Assemble a first aid kit: for your home and one for each car. A first aid kit should include 24 Sterile adhesive bandages in assorted sizes, 2-inch sterile gauze pads (4-6), 4-inch sterile gauze pads (4-6), Hypoallergenic adhesive tape, Triangular bandages (3), 2-inch sterile roller bandages (3 rolls), 3-inch sterile roller bandages (3 rolls), Scissors, Tweezers, Needle, Antiseptic’s, Thermometer, Tongue blades (2), Tube of petroleum jelly or other lubricant, Assorted sizes of safety pins, Cleansing agent/soap, Latex gloves (2 pair), Sunscreen, Non-prescription drugs pain killer, Antacid (for stomach upset).

One should make sure that the disaster kit contains clothes that provide protection from cold and from heat. There should be at least one change of clothing per person, including footwear.

Tools: Mess kits, battery-operated radio or television and extra batteries Flashlight and extra batteries, Cash or traveller’s checks, Knife, Match box’s, Thread, Whistle, Plastic sheeting Map of the area (for locating shelters), , Paper, pencil Needles,

Special items: include family documents such as birth certificates, passports, photo id, bank account numbers, credit card numbers, household inventory, cash and important things.

Types of disasters: primarily there are two types-

1.      MAN-MADE- Man-Made disaster are specific events where a man made hazard has come to fruition.
Example-Fire, Terrorism, Nuclear, Stampede, road accidents etc

Taking an example of fire,
Fire safety refers to precautions that are taken to prevent the likelihood of a fire that may result in death, injury, or property damage. Three elements of fire are fuel, any combustible material-solid, liquid or gas, oxygen and heat.
To overcome fire we can use fire extinguisher, always remember P.A.S.S
P- Pull the pin
A- Aim the nozzle
S- Squeeze the trigger
S- Sweep it to side to side

Steps to evacuate a building on fire:
The last person in the room should not lock the door.
Always proceed to SAA- Safety Assembly Area
Always use staircase to exit the building.
In case of LPG, remember to walk briskly do not crawl.
Call the ambulance, fire brigade and police.

2.      NATURAL

When a natural disaster occurs, we can't always rely on police or governments to provide help.
Earthquake is a sudden shake of the earth, which lasts for a short time, within a very limited region. Most earthquakes last for less than a minute, but sometimes shock may last, for as long as 3 to 4 minutes. The place where an earthquake originates inside the earth is called the focus of the earthquake. Most human lives in earthquakes are lost due to collapse of buildings.

If you are caught indoors at the time of an earthquake, stay away from glass windows, doors, almirahs, mirrors, falling plaster, bricks or stones. Get under a table or a sturdy cot so that you are not hurt by falling objects. Do not rush towards the doors or staircase. They may be broken or jammed.

If you are outdoors at the time of earthquake, If open space is available nearby, go there. Keep away from tall chimneys, buildings, balconies and other projections, Do not run through streets, hoardings or lamps may fall on you.

A flood is an overflow of an expanse of water that submerges land. Flood is defined as a covering by water of land which is not normally covered by water. In the sense of "flowing water", the word may also be applied to the inflow of the tide. Flooding may result from the volume of water within a body of water, such as a river or lake, which overflows or breaks levees, with the result that some of the water escapes its usual boundaries. While the size of a lake or other body of water will vary with seasonal changes in precipitation and snow melt, it is not a significant flood unless such escapes of water endanger land areas used by man like a village, city or other inhabited area.

One needs to be prepared at all times for any kind of disaster. As of April 2016 there have already been 9 earthquakes around the globe and 2 Tsunami warnings. I do hope that people who read this article on Disater preparedness are able to implement some bit and live a safer life.     
           
- Mr. Vivekvardhan Gade
  Student, INLEAD
  July 2015, INBM        

Thursday, July 30, 2015

Top 5 Management Lessons to learn from Narendra Modi

Source-www.archive.financialexpress.com
Crisp personality, clear vision, exceptional orator and enthusiastic nature, this is Narendra Modi, the 14th Prime Minister of the largest democracy on this planet, India, best described for you. And, 26th May, 2014 was the historic day that this charismatic leader took oath as the first Indian Prime Minister born after Independence, in a first of a kind oath taking ceremony attended by who’s who of Politics, Bollywood, Sports and the Indian Corporate Industry.

Winning a total of 282 seats, the Bharatiya Janata Party (BJP) and Narendra Modi proved that their win wasn’t just a fluke or anti-incumbency vote against the Congress.  So, what changed for BJP from the 2009 general elections to the one held in 2014? The answer is, Narendra Modi.

Here are the top 5 management lessons that one can learn from the “ultimate manager” as he is jokingly called by his opposition.  

1) Clarity of thoughts- This is the first and the foremost quality that a manager should possess. Until and unless you’re clear about why you’re in the race, you can’t win it. This is where Narendra Modi scored against his contemporaries.  From the very beginning, NaMo was very clear that his aim was to fix his place at 7, Race Course Road and this is what he confidently projected to others. Seeing his confidence in himself, gave the public the confidence that NaMo has it what it takes to run a country like India and they gave him a whole hearted mandate.

Source- www.deccanchronicle.com
2) Set smaller targets in order to achieve that big target- Mr. Modi’s journey to the top job was an amalgamation of small strategic steps taken one at a time. He very carefully set small, small targets for himself and achieved them at his own self-defined pace.  He started with Gujarat and then slowly, slowly penetrated to the heart of the nation (remember the famous 2013 SRCC speech?).  Hence, in order to achieve that one big target in mind, you need to first set several smaller targets and achieve them one by one.


3) Find the right team- "A single arrow is easily broken, but not ten in a bundle."  Mr. Modi understood this well. He knew that in order to reach the top, he will have to make his foundation strong.  Starting from Amit Shah to BS Yeddyurappa, he made sure that the people whom he trusted and believed in were in and the people (Sanjay Joshi, Jaswant Singh) whom he didn’t were out.

4) Be the Change you want to see- With initiatives like Make in India, Swacch Bharat and Jan Dhan Yojana etc., Mr. Modi proved that he isn’t just words.  Being the Prime Minister of the country didn’t stop him from picking up a broom in his hands and cleaning the sides of a littered street. He showed the public and his contemporaries how it is done and also how cleaning your own country is not a matter of shame. One needs to give him credit for turning a thing like cleaning streets with a broom in your hand into a thing of social status. Another marvelous use of social media by the Social Media genius.
Source-www.economictimes.indiatimes.com


5) Know your weaknesses and never play to them – No human being is perfect and the person who understands this thing is the closest one can come to being perfect. Taking lesson from his 2013 India Today Conclave debacle where he lost his cool for a few seconds following questions regarding the 2002 Godhra Rights, Mr. Modi has made sure that he never repeats his this mistake ever gain. He knew that media being an essential tool to connect with the public, he can’t afford to neglect this medium completely. So, he turned to rallies, social media and conceptualized Mann ki Baat (a monthly All India Radio broadcast) to overcome his this weakness.  

Thursday, May 21, 2015

Technology in Healthcare, the new member!

India’s healthcare professional and infrastructure shortage is one of the major reasons for its high mortality rate. According to statistics available from World Health, India ranks among the lowest in the number of hospital beds per 1,000 people. With just 0.9 beds per 1,000 people, the country is far below the global average of 2.9 beds.

In an effort to change this scenario and provide the healthcare industry with the best lot of Healthcare Administrators, INLEAD recently facilitated an Industry Visit to Columbia Asia Hospital, Gurgaon.  The visit to the 100 bedded multi-specialty hospital was a part of the institute’s continuous Corporate Training Initiative for its students.

The industry visit provided INLEADers with a great opportunity to closely observe the working of an International Hospital like Columbia. They also came face to face with various modern and international technologies being employed by different departments of the hospitals for various hospital processes.

Technology has now become an integral part of the modern day healthcare. A lot of healthcare of the present and the future have their foundation in Technology.

The visit began with the hospital’s HR Manager briefing the students about the hospital and then taking them for a facility tour. The hospital staff was more than welcoming towards the students and answered their each and every question with much enthusiasm.

Columbia Asia Hospitals Pvt. Ltd. is known in the industry for their clean, affordable, efficient and accessible Hospitals. It is one of the first healthcare companies to enter the Indian market through 100 % Foreign Direct Investment (FDI). The hospital established in 2008 has been successful in becoming one of the prominent names in healthcare in Gurgaon in no time.


Tuesday, May 19, 2015

Money Matters!

Revenue Management has for long been the cornerstone of every successful enterprise but with the emergence of ecommerce and various other such trends, this concept has seen some drastic changes over the years.

In order to keep our students abreast with the latest trends and techniques of Revenue management, INLEAD organized an Industry Expert session with Mr. Sandeep Joshi, General Manager of Fortune Select Excalibur, Gurgaon on 15th May, 2015. Mr. Joshi has over 24 years of rich experience in the Hotel Industry.

The session which lasted for over two and a half hours covered the A to Z of revenue management. From addressing the basic question of ‘What is Revenue Management to its latest techniques like SPARR (Special Potential Average Room Rate), Mr. Joshi made sure that INLEADers didn’t miss out on any important information.  He burst out the popular myth that revenue management only deals with money management and educated the students that the concept basically deals with making sure that the right product reaches the right customer at the right time and at the right price.

Talking about the concept’s origin, Mr. Joshi enlightened the students that the concept was first introduced in the 1970’s by the airline industry.  It was invented by major US Carriers after the airline deregulation act forced them to compete with new low cost carriers.

Mr. Joshi kept the entire session quite lively and interesting by incorporating his own professional experiences throughout the session.  Listening to Mr. Joshi’s journey from an assistant catering head to a General Manager in a world renowned Hotel instilled the students with gumption and excitement for a bright future.

In the end, the session concluded with Mr. Joshi encouraging the students to stay focused on their long term goals and keep working hard towards achieving them.

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