Overview of Retail Functions @ the ‘Aditya Birla Group – MORE Hypermarket, Gurgaon’

Agenda of the Industry Visit:  Overview of Retails Functions and Operations

What is More?
Aditya Birla Retail Limited is the retail arm of Aditya Birla Group, a $40 billion corporation. The company ventured into food and grocery retail sectors in 2007 with the acquisition of a south-based supermarket chain. Subsequently, Aditya Birla Retail Ltd expanded its presence across the country under the brand ― "more." with two formats ― Supermarket and Hypermarket.

“More” is a one-stop shopping destination for the entire family. Besides a wide range of products across fruits and vegetables, groceries, FMCG products, more also has a strong emphasis on general merchandise, apparels and CDIT.

On the 28^th of March 2014, students pursuing International Business Management from INLEAD visited Aditya Birla Group-More Hypermarket in Gurgaon.

Introduction:

Hypermarkets are what can be described as a complete destination shopping area, where one can enjoy a day out with the entire family because of a simple fact that hypermarket consists of variety of options under just one roof. The result is a very large retail facility which carries an enormous range of products like grocery, fruits & vegetables, general merchandise, electronics, computers, mobile phones, apparel, footwear sports and FMCG products, with national, international and house brands all under a single roof.

The visit ended with an interaction with the HR manager in More Hypermarket and helped students to become more aware of the retail operations.

INLEADers Speak:

Aditya, student pursuing International Business Management from INLEAD: Overall understanding of retail was great, learnt the practical aspects of Retail operation

Sarath, student pursuing International Business Management from INLEAD: Challenging to see the management and inventory of so much of detailed product line.

INLEAD’s Spokesperson

Ms. Rubi Khan, faculty of International Business Management at INLEAD said,” Students got an exposure of retail functions and operations. They understood the management and merchandising of close to 65,000 product lines.”

Keep watching this space fore more...

Dressing for Success? Here are tips and tricks you can refer to…

Remember one thing, in any interview you appear for, you are marketing yourself as a product and for that having the best image possible is highly recommended.

Interviews are a beauty parade? They’re not.  However, your clothes, hair, shoes etc. will be viewed as indicators of your status, self-confidence and self-worth.

Refer to the tips mentioned blow; they might help you while you sit for interviews.

1)      Ask what to wear: When approached by the training and placement division of INLEAD, students should be open enough to ask them what they would be expected to wear for the interview.  It’s ok to ask the attire before you appear for the interview. A conservative suit of a solid color for men and the women is usually recommended. In ad agencies, event management companies, fashion houses, there might not be a dress code in particular, well in that case just ask your mentor to find out what the usual dress code is in that particular organization.

2)      Save Money on Shopping: Instead of buying 7 different blazers for a week. Just buy 2 blazers, one of a lighter shade and the other of a darker shade. Based on what you are wearing you can switch between these two blazers. Instead of shopping from the high end stores, try and look for factory outlets.

3)      Make-up, jewelry and hair style should be subtle. Two inches of heels are just fine for the women, but remember you should be comfortable while walking.

4)      Look professional and polished. While your interview attire depends on what job you're applying for, no matter what the position, you should come in looking neat, tidy and well-dressed.

5)      Clean fingernails, fresh breath, well-polished shoes, deodorant are all essentials.

The first impression is the last impression as we all know and we are definitely sure that you'll want that first impression to be not just a good one, but, a great one. The candidate dressed in a suit and tie is going to make a much better impression than the candidate dressed in scruffy jeans and a t-shirt.

Dress your best for the interview, regardless of the dress code at the organization.

Women's Interview Attire

·         Solid color, conservative suit

·         2 inches heels

·         Limited accessory

·         Neat hairstyle

·         Light make-up & perfume

·         Manicured nails

Men's Interview Attire

·         Solid color, conservative suit

·         White long sleeve shirt

·         Tie

·         Black/ white colored socks and formal shoes

·         A watch/ No studs in the ears

·         Neat hairstyle

·         Neatly trimmed nails

You can always take a photo of your interview outfit and send it to a friend for a second opinion.

Your personal image will strongly influence an employer’s perceptions of your capabilities, your approach to work and how well you will fit in with their organization.

All the Best!

“LinkedIn not only for Professionals”, says Study

It’s a myth that professional social platforms are for professionals, service or business class individuals. Most of the recruiters nowadays scan the LinkedIn, Facebook and twitter profiles of the prospective candidate. LinkedIn is no more a job search website, therefore graduates and post graduate students should be little serious as to what they post on their profile whether it’s images or status updates.

In this article, today we will discuss about the important aspects on your LinkedIn profile page.

Points to Remember:

  

    1 )    E-mail Id: The e-mail Id that you use for professional networking should be professional. You CANNOT us coolguyamit@gmail.com, instead make use of your name or the initials for example: s.amit@gmail.com is the ideal id which you could use.

 
  2)    Profile Photo: Profile photo should be professional and not very professional. Avoid full length photos, a close up wearing a formal shirt with blazer is an ideal image for Linked In.

   
3)    Profile Headline: The headline should be eye catching and extremely appealing to the reader/ recruiter. Students can mention the college they’re studying in, the course they are pursuing and the year they are in. Remember that a profile headline is like your professional identity.

   
4)    Summary: another important feature in your profile is how well you have written your summary. Summary is the space box where the reader or recruiter can look into your name and profile headline. A brief write up about your work experience etc. should be highlighted.

   
5)    Experience: Highlight the internships and the work you were handling therein. Highlight the projects list the duration, the name of the organization etc. Mention any kind of social work that you must have handled in the past.

   
6)    Education: Under this section along with the qualification remember to fill in the Percentages/ grades. Mention any proficiency achieved in any subject.

   
7)    Personal Details:   It is highly recommended to mention your date of birth, marital status and contact details. Just incase a recruiter wants to contact you he/ she can do so.

   
8)    Recommendations:  ‘Recommendations’ means opinions written by your contacts about you and your work. The people who write recommendation to you may be your batch-mates, professors, teachers, professionals. Here it is very important to invite recommendations from those only with whom you have worked and know you.     

 
9)    Groups: Join as many relevant groups as you can. Relevant to your career, future goal, career etc.

 
10) Privacy Settings: Check your settings and make sure that your entire profile is visible to all. This ensures greater visibility in other networks.

Create your LinkedIn Profiles today!

INLEADers @ the ‘Signature Towers, Unitech Group’ Read about what they experienced!

The agenda of this industry visit was exposure to Technical Facility and Management Operations.

Introduction: Signature Towers is a commercial /office property, of over 6 lac sq. ft., managed by Unitech, with a substantially large team of technical staff, maintaining the 31 AHUs, 13 elevators & 16 fire staircases, as also the HVAC, fire systems & all other associated technical equipment.


Signature Towers is a landmark in the commercial space/ office area realm & is known for the quality of well managed facilities. Currently managed by Unitech, it is a 6lac plus site, with a system of well-placed fire hydrants along the landscaping.The towers are home to multiple brands & companies, each floor / office being serviced by an efficient facility team. The facility has 31 AHUs, 16 fire escapes & 13 elevators for the comfort & safety of its occupants, & a basement parking that is a revenue generating occupancy.

The students were welcomed by the senior site facility manager, who commenced the tour with a summary of the salient features of the building. Other members of the team, including the fire officer, HVAC operators, DG operators, also joined the tour to explain the actual working of the systems. Some of the features that the students examined in some detail were:

• HVAC
• AHU
• Transformers
• LT panels
• Fire pumps
• DG
• Cooling towers

INLEADers Speak:

1. Sandeep Jain, student of MBA in Infrastructure Management (Batch: Jan’14) says, “The visit to Signature Towers was highly informative. We were able to relate and apply our knowledge of the subject into practical experience.
2. Sumit Ranjan, student of MBA in Infrastructure Management (Batch: Jan’14) says,” The BMS was very impressive. It was a great visit. 3) Omika, student of Infrastructure Management (Batch: Jan’14) says, “I was able to get answers to a lot of practical questions”.The visit ended with an invitation to visit again for more insight into other services. Keep watching this space for more!

Top 5 Job Skills Your Employer Wants!

1. Quality NOT Quantity: You may be employed in a 9-5 job. Instead of focusing on the number of hours you put in to complete a task your prime focus should be on the quality of the task performed by you. Lay emphasis on the quality of your work rather than the hours you put in to complete the work.

2. Upgrade and Update: You have to upgrade your knowledge & skills from time to time if you want to sustain yourself in the job. You as an employee should regularly update yourself of the latest information. Never arise in a situation in which your client is more knowledgeable than you. It is often said that the more you learn the more you earn.  

3. Time management: Time management is all about completing your work on or before the given timelines. If you meet the mentioned work deadlines, your boss wouldn’t care when you take lunch or when you leave your office.  

4. Communication skills: You as an employee should have a good command over English. This is important as you will never be confused of what was asked and what you deliver.

5. Team Player: You might be excellent in your job and you might also have the right skill set, but when asked to perform a task in a group you might not be a good team player. When it comes to working in a corporate you have to work in a team to achieve big targets or complete projects or assignment. Know how to overcome team politics also at the same time contribute as much as you can, this will give you an edge over others while working in a team.

These are 5 most important traits an employer looks for in an employee. If you want to add more, kindly do so in the comment section below.

INLEADers @ ‘NIRBHAYA-The Play’

‘NIRBHAYA’ from the Writer and Director of the 2012 hit play ‘Mies Julie’ YAEL FARBER. 

Recently ‘NIRBHAYA’ was on an India Tour and they were performing at the FICCI Auditorium on 22^nd, 23^rd and 24^th March’14.

As a regular activity, the students pursuing Event Management & Public Relations at INLEAD were made responsible for the Event Coordination.

Who is ‘NIRBHAYA’?

On 16^th December 2012, a young woman boarded a bus in New Delhi with a male friend. What followed changed theirs and countless lives forever. People poured onto the streets in grief and rage – demanding justice. The press named her NIRBHAYA (The FEARLESS).

Role and Benefits for INLEADers:

- Event Coordination
- Exposure to events
- Experiential learning
- Networking
- Guest Handling
- Vendor Management
- Sound and Light Management

NIRBHAYA premiered at the prestigious Edinburgh Fringe Festival, the largest arts festival in the world, in August 2013. It won the coveted Amnesty International Freedom of Expression Award given to an outstanding Fringe production which raises awareness of human rights. It also won the Scotsman Fringe First and the Herald Angel Award for Outstanding New Play.

Want to get employed? Do a PG!

You do spend time & energy in arguments or discussions with parents to buy a new phone or a fancy handset which is classy and more importantly ‘upgraded’ to the latest technology, and then why not spend time and energy in ‘upgrading’ yourself for career?

It’s time for graduates to upgrade themselves and get skills for them to become employable. Doing a post-graduation is not just about getting a master’s degree rather it is like doing an internship of two years before actually getting into employment.

And this ‘upgrade’ needs to happen at the right time at the right place.

An ideal post graduate student should have a command over his chosen domain like international business management, healthcare administration, Event Management& Public Relations, infrastructure management and international hotel management. This can be acquired through rigorous academic activity like case study, workshops, seminars, role plays, simulations, industry visits, internships, etc. For instance at INLEAD we do focus on all these aspects of academic activity. Students pursuing Healthcare Administration are taken to Fortis and Max Hospitals to have hands on practical experience rather than just knowledge what he/ she anyway learns from the books. Likewise, we also do have expert guest lectures wherein experts from the industry come to our campus and share their experiences with the students etc.

How a PG student benefit?

1)    High Salary Package

2)    Excellent Job Profile

3)    Excellent opportunity for career growth

4)    Better work-life balance

5)    Better opportunity in case of switching jobs

A post-graduation is important but also equally important is from where you do your post-graduation and in what field! Course like Infrastructure Management, International Business Management are upcoming and there is a great demand for students who have pursued such courses.

To enroll yourself in a PG course click here today: http://www.inlead.in/app-form.php

Disaster Management, as part of the Curriculum at INLEAD

Disasters in some form or the other have been regularly visiting humankind and humans have been trying to handle these upheavals. The world is becoming increasingly vulnerable to natural disasters

The United Nations declared 1990-1999 as International Decade for Disaster Reduction. The Indian Government passed the Disaster Management Act 2005. As a consequence of the Act, the National Disaster Management Authority was setup. All states were given the guide lines for disaster risk reduction. The objective of this article is to get a clearer picture of how INLEAD as in institute helps students in workshops in Disaster Management and Fire Safety.

Integrating Disaster Management in the curricula at INLEAD helps educating the youth and who can address this problem with their knowledge, self-confidence, and survival skills.

Disaster Management provides knowledge on how to deal with all aspects of disaster mitigation, preparedness, response and rehabilitation.

Knowledge management and education can help communities in hazard-prone areas to gain a better grasp of the ways to cope with risks. Disasters can occur at any time and it is the magnitude of the related impacts that will reflect the level of preparedness and “education” in the relative field.

The main emphasis of disaster management has been on:

• Awareness and sensitization of students and teachers on various hazards
• Preventive and precautionary measures on various hazards.

It is said that accidents do not happen but they are caused. Advance planning, effective implementation strategies, co-ordination and co-operation with agencies working in this area are important for ensuring safety in universities.

In addition to this, we also have expert workshops specially organized for our students which exclusively focus on ‘Disaster Management’ & ‘Fire Safety’.

 
Check out few pictures of the workshops on 'Disaster Management' & 'Fire Safety' which were held at INLEAD in the recent past...

Keep watching this space fore more :)

INLEADers @ the Country’s Biggest & the Toughest Obstacle Run!

A commando styled run which involved climbing ropes, crawling under barbed wires and overcoming more such obstacles over a five kilometer course. YES! We are talking about the ‘Devils Circuit’.

Devils Circuit’, an obstacle running is a vastly popular running format overseas and witness’s participation of over 50 million people. Devils Circuit is inspired from similar runs with variations that suit Indian taste and style.

This run took place in Sector-70, Gurgaon and attracted many students from various colleges and schools. INLEADers participated in the run too. These participants faced various challenges wherein their physical endurance was tested. Since we know events like these are on a large scale, so the students pursuing MBA in Event Management & Public Relations were responsible for the overall coordination involved in the event.

It was a run and not a race therefore the objective was to reach the finish line at any speed and help others in the process. The run was divided into two categories: Non-Competitive and Competitive.

The Non-Competitive Category was an untimed run that catered to those participants who were interested in running at their own pace without keeping the time frame in mind.

Competitive Category was for those participants who wanted to compete with fellow runners and clock their performance.

The top three finishers, both male and female categories, received a special reward for their performance. Every participant in this category received either a timing chip or a tag to measure their run time.

On the whole it was a fun activity the participants enjoyed thoroughly enjoyed the run. View the pictures and keep watching this space for more.

Hotel Industry - One of the Fastest-Growing Sectors

Hotel Management has witnessed a tremendous growth in the recent years. The growth in the tourism industry has directly led to the growth in the hotel industry.

The thriving economy and increased business opportunities in India and abroad have acted as a boon for the hotel industry.

Destinations like Dubai attract 9 million people looking for the lovely beaches and the sunshine each year. The 2020 World Expo will be held in Dubai and the hotels are already expanding their capacity. It is expected the World Expo will bring close to 25 million visitors over a year, which will create a wealth of work opportunities in luxury resorts and the hospitality sector.

At the same time, Germany too is experiencing a boom in the hospitality sector. The first Andaz-branded hotel in Germany, Andaz Munich will join Andaz properties currently in London, New York, Los Angeles, Shanghai, and Tokyo. Expected to open in 2017, the 274-room hotel will be developed in the central Munich Schwabinger Tor district.

The hospitality sector is set to boom in India as well. The study shows that hotel chains like the Hilton, InterContinental among others have announced major investment plans for the country. The Government's move to declare hotel and tourism industry as a high priority sector with a provision for 100 per cent foreign direct investment (FDI) has also provided a further impetus in attracting investments in to this industry. 

It is estimated that the hospitality sector is likely to see US$ 11.41 billion rise in the next two years, with around 40 international hotel brands making their presence end of 2014.

Reasons for increase in demand for hotels:

1) Boom in the economy
2) High growth in sectors like information technology, retail, real estate
3) Rising Stock Market
4) New Business Opportunities
5) Enter of Low cost Airlines
6) Low Cost Medical Facilities

Global Career Choices in Hotel Management:

1)Hotels
2) Resorts
3) Spas
4) Casinos
5) Bars

what’s trending?

1) ecotels
2) resorts
3) motels
4) floatels

Employment Opportunities:

At present the scope in the hotel industry is greater than in any profession. The Hotel industry demands a combination of various skills sets like management, housekeeping, food and beverage service, front office operation, sales and marketing, accounting. The rise in corporate activity today like travelling for business has led to the soaring of this industry.

If this interests you can pursue International Hotel Management from INLEAD
Eligibility: Graduation in any field
So why wait longer? Enroll yourself today.

The hotel industry is highly demanding…It’s here and it’s here to stayJ! 

Technology, Demographic Challenges, Cost of Care and Consumer Expectations are the Biggest Challenge in the Healthcare Sector says Dr.Kawaljeet Singh – Facility Director, Fortis

As you know by now, INLEAD recently had organized a Colloquium which was titled “Healthcare Administrator- the New Age Influencer” on the 7^th of March’14.

To begin with, join me in thanking Dr.Kawaljeet Singh for gracing the colloquium’14 at INLEAD.

Agenda: Challenges and Roadblocks in Healthcare Administration

He began the discussion by throwing light upon the ‘Indian  Healthcare Scenario’ where he mentioned that the bed density is 0.7 beds per 1000 population and it needs to meet the target of 3.5 beds per 1000 population. (WHO Recommendation)

Coming to challenges he broadly emphasized on technology, demographic challenges, and cost of care and consumer expectations. Let’s know more about each

Technology:

-Pace of innovation
-New surgeons, diagnostics
-Monitor & slow program
-Usually more expensive treatment for diseases which were earlier fatal

Demographic Challenge:

-Increased life expectancy
-Complex chronic health conditions
-More elderly patients

Cost of Care:

-Equipment attracts talent
-Nursing woes
-Healthcare administrators
-Demand for Doctors

Consumer Expectation:

1.  
 -  Patients are no more passive
- They need to be involved, consulted and informed
- The patients have the right to be partners in the decision making process
- The patients are expected expects to get better with whatever treatment he is undergoing.  

The talk was highly informative, towards the end of his talk he referred the patient as a ‘Walking Wikipedia’ which meant that the patient can now argue with data. Doctor is no longer an unquestionable God.

Keep watching this space for more of such updates!

Colloquium’14 – Read the Success Story!

INLEAD recently organized a Colloquium titled, “Healthcare Administrator- the New Age Influencer” on the 7^th of March’14.

To start with we want to thank all the students and the dignitaries for sparing their precious and valuable time to attend this colloquium.

The who ’s who of the healthcare industry were present to discuss the impact and challenges of the healthcare industry.

The event brought together several delegates from the leading hospitals of Delhi- NCR such as Max Healthcare, Paras Hospitals, Columbia Asia, Nova Healthcare, Dr. B.L. Kapoor Hospital and Rockland Hospitals to name a few.

Eminent leaders from healthcare industry with Dr. Dilpreet Brar [Regional Director-Fortis Memorial Research Institute] as the Chief Guest and Dr. Narottam Puri [Medical Advisor- Fortis Healthcare and Chairman NABH] as the Guest of Honor were present to grace the colloquium.

Few of the prominent speakers who were present were:

1) Dr.Kawaljeet Singh – Facility Director, Fortis Flt.Lt.Rajan Dhall Hospital
2) Dr. Kapil Garg, ZonalDirector , Paras Hospital
3) Mr.Mehernosh B.Dittia – Vp (Talent Acquisition), MAX Healthcare
4) Mr.Gurjeet Singh – Regional Head (Delhi-NCR)
5) Dr.Narottam Puri- Medical Advisor, fortis Healthcare & Chairman NABH
6) Dr.Sameer Khan – Group CEO, Rockland Hospitals

Notable topics among the most talked about were the challenges and roadblocks in the Healthcare Administration which was elaborated upon by Dr.Kapil Garg. Following which Mr.Gurjeet Singh laid emphasis on skill based education which is the need of the hour he demanded.

The event was a huge success the audience was highly motivated. It gave the students a broader perspective in their relevant field. The discussions were followed by a question and answer round wherein students and the audience were open to ask what they liked.

Message from the Directors desk:          

Mr.K.Parijat – Managing Director , INLEAD says, “We at INLEAD have constituted the Colloquium as a flagship of INLEAD CONNECT to offer a platform for industry interaction culminating into ideation, innovation and incubation of thought leadership in the high growth industry sectors – to begin with the Healthcare Sector.”

Keep watching this space for more :)! 

Emerging Trends in the Healthcare Industry

The Indian healthcare industry, which comprises hospitals, medical infrastructure, medical devices, clinical trials, outsourcing, telemedicine, health insurance and medical equipment, is expected to reach US$ 160 billion by 2017.

Technology is rapidly changing the way healthcare is delivered across the country. The Indian healthcare sector is expected to become a US $280 billion industry by 2020, with spending on health estimated to grow 14% annually, according to a report by an industry body.

Healthcare has emerged as one of the most progressive and largest service sectors in India, with an expected GDP spend of 8% in 2012, up from 5.5% in 2009.

During the last five years, the rural healthcare sector has seen the addition of 15,000 health sub-centers and 28,000 nurses.

India leads all of Asia’s key markets in revenue, technology, and trial costs, and it is expected to dominate in this vertical.

Latest Trends in the Healthcare Sector:

1) Telemedicine: used to connect remote rural populations to medical advice from specialists.
2) Telemedicine Technology: allows easy access for physicians to their colleagues in multiple locations across health facilities, thus offering the possibility of creating a network of health service providers.
3) Technology: to improve efficiency, Technology is offering comprehensive clinical and financial solutions that enable better decisions and outcomes for both businesses and patients, improve revenue cycle, drive quality outcomes and accelerate image management and workflow.
4) Patient Remote Monitoring: Care from the admission to post discharge
5) Multispecialty Outpatient Clinics: large number of providers are setting up chains
6) Medical City: relatively new concept offering immense growth opportunities
7) Medical Tourism: great boon for the healthcare industry

Challenges faced by India in the Healthcare Sector:

1) Diabetes Capital of the World: According to the International Diabetes Federation (IDF), India is expected to be the diabetes capital of the world, with the number of diabetes cases expected to increase from nearly 60 million in 2011 to 100 million by 2030.
2) Rising Costs & Increased Customer Expectation: reason being the health facilities are increasingly run by corporates and funded through private equity, which demands better management practices
3) Dual disease Burden: Changes in the lifestyle of the people is the result of dual disease burden
4) Private Partnerships: The Public Sector is keen to continue to encourage private investment in the healthcare sector and is now developing Public – Private Partnerships i.e. PPP models to improve availability of healthcare services and provide healthcare financing.

India has witnessed an increase in the number of patients from Africa, CIS countries, Gulf and SAARC nations, Pakistan, Bangladesh and Myanmar, who mainly come for organ transplant, orthopedic, cardiac and oncology problems.

The country's healthcare system is developing rapidly and it will continue to expand in terms of services and spending in both the public as well as private sectors. This is creating a large market for hospital information systems and other healthcare-related IT solutions.

India, thus offers favorable demographic virtues which are an attractive market for healthcare providers and investors in India.

Healthcare Industry is the future and INDIA is the next big Healthcare Hub of the World.

Dr. Mradul Kaushik, Director-Operations introduces ‘Healthcare Operations’ to INLEADers!

Dr. Mradul Kaushik is the Director Operations, BLK Super Specialty Hospital, Delhi. Dr Kaushik has over 17 years of experience in healthcare out of which last 10 years have been in the administrative field.

INLEADers pursuing Healthcare Administration attended this expert lecture and gained insights on the various healthcare operations which are held in a hospital.

The session began with an elaborate introduction to ‘operational services in a hospital’. He discussed in detail the different types of operational services.

Dr. Kaushik initiated the presentation with the definition of a ‘Hospital’. Post that the structure, process and outcome criteria of the services were discussed.  The Functions and types of the hospital operations were also discussed. The other topics that were elaborated were:

1.       Recent advances in operational services in hospital

2.       Role & responsibilities of operations manager

3.       Branches of hospital operations

INLEAD’s Spokesperson:

The session was interactive and comprehensive highlighting all the important aspects of the services in hospital. The speaker had a good academic as well as practical knowledge of the topic and current trends in the Industry.

Student’s Feedback:

Neeti- MBA in Healthcare Administration: Class was interactive. I gained knowledge regarding operations.

Naidu- MBA in Healthcare Administration: The practical experiences shared in the presentation were very interesting

KEEP WATCHING THIS SPACE FOR MORE INFORMATION ON VARIOUS EXPERT LECTURES HELD AT INLEAD.

Mr. Sandeep Joshi, GM Fortune Excallbur, Gurgaon on Revenue Management at INLEAD

Most hotels start with market segmentation to begin the revenue management process; what types of business can your hotel serve and based upon market conditions.

What rates are marketable for each segment of business?

On the 25^th of February, INLEAD facilitated an industry expert workshop for students pursuing ‘International Hotel Management’ at INLEAD.

The session began with an introduction of Mr. Sandeep Joshi, General Manager, Fortune Excallbur, Gurgaon. Mr.Joshi gave a broad understanding to students discussing in detail about the background and also discussed the future plans of ‘Fortune Excallibur, Gurgaon’.

The students were also given a brief outline on the concept of Revenue Management and how hotels today are focusing on BAR and dynamic pricing. They were told about that business today is all about speculation basis the market, segment and events. They were introduced to two tiers and three tier pricing system which was of great value addition to INLEADers.

The session covered the lay man concept of Revenue Management. The topics covered in the session were demand based pricing, how dynamic is revenue management, strategic decision. The lecture gave them insights into the following facts:

• Observe your market and competition
• Every point of guest contact is an opportunity for revenue management
• Revenue managers today works with reservations, Front Office and F&B Service
• Revenue Management is based on Price and Segment dynamics
• The dynamics are based on- service quality, location, brand, quality and amenities.
• SPARR- Special Potential Average Room Rate and how it is derived through a simple case study.

Student’s Speak:

Anil Bhore, student pursuing International Hotel Management Batch: Oct’13 MBA (L) says, “The lecture gave me an insight into Revenue Management, which I found very knowledgeable. What it also taught me was to be passionate about the work.”
Ravi Prakash, student of International Hotel Management Batch: Jan’14 1^st Year says. “The lecture included advanced knowledge of Revenue Management in a basic layman language focusing on the Hotel Industry.”



Keep watching this space for more information on various expert lectures held at INLEAD.