Caviar: a luxury indulgence

 Caviar is, undeniably, the most luxurious and exclusive food known to mankind. Its origin is rooted in the Persian word khag-avar, which means "roe generator". Caviar is always featured one among the list of extravagant gourmet dining. The taste may not appeal to everyone, but for the ones who love caviar they like it for its rich and creamy taste. Love it or hate it, there can be no doubt these pearly globules are considered ‘high luxury’ and a connoisseur’s delight.

Caviar is fish roe or eggs that are lightly salted with non-iodized salt. As a matter of fact all female fish lay eggs, so they all have roe. However, not all fish roe is suitable to be caviar. Genuine caviar comes from only the sturgeon fish; beluga, osetra, sevruga, and starlet are considered the best. Classic caviar comes primarily from Iran or Russia, harvested by commercial fishermen working in the Caspian Sea. Tins of caviar must list the name of the fish first, unless it is definitely sturgeon roe.

Here’s an A to Z on one of the most famous dishes all around the world:

1. Caviar is one of the oldest delicacies before raw oysters, before Champagne, before even truffles were deemed a delicacy; caviar was coveted by kings and the aristocracy. Ancient Greeks, Romans and Russian tsars were all known to splurge on caviar.
2.  Beluga is always sold in blue color tins, osetra in yellow and sevruga in red.
3.  Caviar should be removed fifteen minutes before serving from the fridge and the box opened just before serving.
4.   Caviar should never be frozen.
5.  Caviar should never be served on metal utensils — the sensitive "berries" (the proper name for roe) can develop a very off-putting metallic taste. Caviar spoons made from bone, mother of pear or tortoise shell and are sold in specialty shops for just such occasions.
6. There are etiquette rules attached with caviar. When served on a small cracker or canapé, it should be eaten in one bite, but caviar served as an appetizer should be mixed with chopped egg whites and yolks and placed on toast points before eating.
7.    Caviar and ice-cold vodka is a classic combination.
8.    The most expensive is the exclusive variety called Almas, which in Russian means "diamond", and its price is almost as high as that of the precious gemstone. It is one of those items that are not for sale just anywhere. Few select Caviar House & Prunier stores, the only place in the world where it is available for sale. Its classic presentation makes a unique gift: it comes in a metal container bathed in 24-karat gold. The price? A kilo (2.2 lbs) can cost upwards of $ 25,000. 

         So, the next time you have Caviar, you would know exactly what you’re getting into.

-       - Ms. Bindu Menon,

           Senior Faculty, INLEAD 

The ‘Hop’aholics’ Paranoia

When Barbara, 36, relocated to Atlanta from Boston for a marketing job, she realized almost immediately it was the wrong decision. So the social media manager made the bold decision to leave the new role after only two months, rather than stay for a year to smooth future employer concerns over such a short-term stint. To support herself between jobs, Barbara did some freelance graphic design work. In the meantime, she struggled with whether she should include the two-month stint at the Boston firm in her resume.

According to career experts, candidates who changed jobs four or more times in 10 years are most likely to be labeled job-hoppers, according to a 2014 survey of 160 CFOs by recruiting firm Robert Half International. And 93% of hiring managers say they would overlook a candidate for taking on too many short job stints, according to findings.

These short stints can still hamper the hiring process if addressed incorrectly. One needs to be able to explain why they left the previous job and what they learned going forward. And it’s more important to vet the subsequent role to make sure it’s a good fit.

Younger job candidates have more leeway when it comes to ditching a job earlier than planned, according to Michael Butler, who is head of HR for Bristol, UK-based Radius World Wide and is based in Boston in the US. “If you can get two years out of someone early on in their career, you are doing pretty well,” said Butler. Older candidates past their thirties should aim to switch no more than three jobs in about ten years, Jones said.

But an unavoidable question emerges here – How long is too long?

There are benefits to short stints if you’re working to ripen your skills. However, employees at large companies are often expected to stay for at least a couple of years, which gives them time to figure out company politics and achieve some professional goals. When seeing an applicant from a large firm, hiring managers are definitely looking for stability.

No matter why you left a job, honesty is the best policy when it comes to your resume, particularly as social media and sites such as LinkedIn now make it easier for recruiters to do a background check and uncover previous experience. One should rather keep even a two-months-long stint on their CV rather than omitting it altogether. It’s important to acknowledge the short-term position and explain what you’ve learned about yourself and your career goals during the role, in order to show the interviewer that you’re serious about advancing in your career. Critically, changing the dates of a previous job to cover up a gap in employment is unethical.

Finally, having too many short-stints on your CV may raise a red flag to employers, signaling that you're not performing to your capabilities when taking on a new role.

-Mr. Sumit Chakravarty,

  Faculty, INLEAD

Images Courtesy- Google Images 

Politics behind state elections

With the fourth leg of the Bihar elections wrapping up yesterday, there’s just one more phase to go before the D-Day on November 8, 2015.  Among the various voices that were heard during the Bihar elections, the country is now curious to know what the supreme voice – ‘the voice of the janta’ has in store not only for the state but also for the entire country.

India has a federal government structure with elected officials at the federal, state and local level. At the national level we have a Prime Minister and at the state levels we have Chief Ministers. Election dates across different states and at the national level do not coincide and are held at a space of 5 years, unless there’s a political emergency in the country. It often happens that the political party at the center may not be in power across different states and union territories. This creates some glitches when it comes to getting bills passed (which requires majority voting) unanimously across both the Lok Sabha and the Rajya Sabha.

Why is a state election important?

This year Bihar state elections has taken the center stage in all global news diaspora, and is probably the second most watched election spectacle after the November 2016 US presidential election primaries. The criticality of this election lies in the importance that Bihar holds in Rajya Sabha. If BJP manages to win seats in Bihar, it gets a majority in the Upper Council and that will be beneficial by way of central government’s ability to pass stalled policy bills.

What are the kinds of funds that are spent on state elections?

The government in 2014 cleared a proposal of the Election Commission to raise the expenditure limits for Lok Sabha elections from Rs. 40 lakh to Rs. 70 lakh for each Lok Sabha constituency in bigger states and from Rs. 22 lakh to Rs. 54 lakh in smaller states. The bigger states include Maharashtra, Madhya Pradesh, Uttar Pradesh, West Bengal and Karnataka etc, and the smaller states include Goa and other hilly and north eastern states. Election expense includes details of expenses on public meeting and processions, campaigning through electronic and print media, expense on campaign workers, expense on vehicles used and expense on campaign materials. In reality however, parties spend anywhere from 100 to 1000 crores to woo voters with freebies like alcohol, saris, food grains, bicycles, etc.

The dark side of elections

In the ongoing Bihar elections about 46 contesting candidates have criminal cases registered against them. Yet these are the politicians who have the money and the muscle power to contest. Apparently most state elections are caste based and there is a huge dependency on backward classes and rural communities who form a major chunk of the vote bank. Then there have been one off cases of rigging of election booths and of EVM (Electronic Voting Machine) tampering. There have also been rumours of phone tapping of election candidates by opposition party members in a bid to search for skeletons in their closets, as also of horse trading, i.e buying of MLAs.

As in any election, state elections have their fair share of controversies and corruption issues, despite an extremely vigil Election Commission. Nevertheless, it’s still an opportunity to elect the right representatives who if honest will do things right and for citizens’ welfare.

India is sanctum sanctorium of democracy and election is the only way people can get their voices heard in the Parliament at the center and legislative Assemblies in the states.

- Ms. Monica Mor

  Sr. Faculty, INLEAD

Images Courtesy- Google Images 

India and Africa, the way forward…

Indo Africa Summit held recently between 26^th and 30^th of October 2015, had premiers from 50 African nations visiting New Delhi and participating in this historic initiative by the Government of our country. India, since the BJP has come to power, has seen many countries showing interest in conducting business in our country. Quite often we have seen heads of governments of emerging countries trying to woo developed countries like the US, UK, Australia, Canada and Germany in a bid to give a boost to their international trade. However, Mr. Narendra Modi has been making ample efforts to build relations with other developing countries.

This Indo Africa summit is the third such summit, the first being in 2008. India and Africa share a historic relation of struggle against colonialism and apartheid. “Cairo to Cape Town, Marrakesh to Mombasa”, where the words used by Modi to describe the extent of relation that India wants with Africa.

What’s in it for Africa?

There are 54 nations within the African continent, of which South Africa is the most developed one. Africa is the second largest and the second most populous continent with an area of 30.22 million square kms and population of 1.11 billion. Africa’s population is amongst the youngest in the world and hosts a large diversity of ethnicities, cultures and languages. There are 54 countries in Africa some which have been struggling since long with civil strifes and corrupt dictatorships. This has led to the countries now wanting to break out and establish business relations with other continents.

India will offer 600 million US dollars, which includes an India-Africa Development Fund of 100 million dollars and an India – Africa Health Fund of 10  million dollars. Then again there will be about 50,000 scholarships given to African students. There have also been discussions on cooperation for climate change while creating a forum of solar-rich countries. Incidentally India and Africa contribute least to global warming, which is more a prerogative of the developed world. India’s trade with Africa is currently valued at about 75 billion dollars.

What’s in it for India?

India will get deeper inroads into all or most of the African economies by way of Skills development and IT training programs.  In fact Egypt under its new investment law can be the hub of Indian investments in the continent by offering tax incentives and extremely liberal custom duties. Egypt is India’s largest trading partner with volumes of $5 billion slated to touch $8 billion in the near future. India had apparently also aided in providing safe passage to Egyptian citizens stuck in Yemen as also delivering their Earthquake relief aid to Nepal.

Many of our companies both, private like Airtel and Luminous, and public like GAIL and OIL have already made inroads. We are hoping that this will encourage more companies to also make inroads, thereby adding to India’s exchequer.

Moving forward we are expecting more such summits with other nations as well such that in the long run benefits trickle down to benefit all sections of our society.

- Ms. Monica Mor

  Sr. Faculty, INLEAD

Images Courtesy- Google Images 

Net Neutrality- The Hot Debate

‘Net Neutraility’ has become a topic of hot discussion in the recent times. If you’re also one of the active Indian netizens, I’m very sure that the term might have also caught your attention, especially after AIB’s much famous video on the same. 

To the unaware, ‘Net Neutrality refers to the concept of an “open internet” whereby end-users can access the lawful content, applications, services & devices of their choice. Policymakers around the world are considering whether and how to ensure that the internet remains “open” & Internet access service providers do not improperly block or degrade content sent over their networks.’ This is probably the most proper description of the controversial phrase “Net Neutrality” as stated on the site www.techpolicy.com

The ISSUE 

Due to intense lobbying by telecom operators like Airtel and Vodafone, the Telecom Regulatory Authority of India (TRAI) had been planning to block apps and websites to extort money from customers. In essence, if you do not pay for your YouTube app, then you can’t view it on your phone. However, this plan of blocking Net Neutrality has been put on hold due to widespread customer uproar and since then there have been multiple public discourses on the concept.

Net Neutrality is a legal right for citizens in few countries across the globe including USA, Chile, Netherlands and Brazil. Chile was the first country to adopt it as a part of its General Telecommunications Law in the year 2010. The first time Net Neutrality debate arose in India was when Airtel along the lines of Verizon, USA launched Airtel Zero in April 2015.

How will Airtel Zero work?

1. Mobile app makers register with ‘Airtel Zero’ to give customers toll-free access to their apps;
2. Airtel informs customers about these toll-free apps;
3. Customers download and access these apps at zero data charges – and enjoy their favorite online tasks (e.g. entertainment, shopping) for free;
4. In a nutshell, it creates special “fast lanes” for the paid content.

The Loophole?

Well, as an Airtel customer, you can only access the apps your service provider allows you to. If Twitter doesn’t sign up with Airtel, then you may as well get ready to say bye bye to your tweets and your followers. This is unlike the present circumstances where for a monthly payment for your broadband charges you can view all apps and  websites. 

Flipkart was one of the first companies’ to sign up for Airtel Zero for a specific bandwidth speed to be allocated to them. However, soon after the public furor, it pulled out of Airtel Zero, which itself since then has been withdrawn by Airtel.

Net Neutrality in USA

A similar hue and cry had arisen in USA when Verizon and Comcast, two prominent US service providers had come up with Net Zero. After multiple rounds of discussions early this year, the Federal Communications Commission of USA came up with the FCC’s Open Internet rules which are designed to protect free expression and innovation on internet and to promote investment in the country’s broadband networks, thereby adopting Net Neutrality in its entirety.

Facebook’s internet.org

An open letter was sent to Narendra Modi by  ‘youth ki awaz’, an online youth blog, after his discussions with Mark Zuckerberg, who has been trying to promote his company’s internet.org as a platform for digital inclusion in India.  According to this open letter, contrary to Facebook's claims, the company in fact plans to target users of internet.org with restricted access to Facebook and sites that have registered with internet.org. For other sites not registered with internet.org, consumers will have to pay more. This again according to the forum is a violation of net neutrality.

The debate is ongoing and we are hoping that Net Neutrality sooner than later, becomes a public law in India.

- Ms. Monica Mor
  Senior Faculty, INLEAD 

Images Courtesy: Google Images 

Greenwashing consumer’s green hopes…

With Deepawali round the corner, almost every Indian household is busy with whitewashing their homes and repainting them with colours to reflect the spirit of firecrackers and Goddess Lakshmi. Ironically, around the same time, we are also hearing about a new concept called “Greenwashing”.  And the concept becomes starkly clear in the light of the recent Volkswagen (VW) emission controversy that has set the Green industries crackling under pressure.

Decoding the term "Greenwashing"

Greenwashing was a term coined by New York environmentalist, Jay Westervelt, in 1986. He observed that some of the hotels that had placed Green Cards in Hotel bathrooms highlighting reuse of towels ostensibly to ‘save the environment’, where in fact doing so just to garner publicity which could lead to increased profitability. Westervelt thus labeled this and other outwardly environmentally conscientious acts with a greater underlying purpose of profit, as Greenwashing.

Accoding to Terrachoice, a consulting firm that studied this phenomenon, found that 95% of the products marketed as eco-friendly had committed at least one of the “seven sins” of Greenwashing. 

 The seven sins are:

1. Sin of the hidden trade-off: A claim suggesting that a product is green based on a narrow set of attributes.
2. Sin of no proof: An environmental claim that cannot be substantiated;
3.   Sin of vagueness: A claim that is so poorly defined that it remains ambiguous.
4.    Sin of worshipping false labels: A product that’s using fake green labels;
5. Sin of irrelevance: An environmental claim that maybe truthful but unimportant like CFC-free, since all products have to be, as CFC is banned;
6. Sin of lesser two evils: A claim that maybe true for the product, but risks distracting consumer from the greater environmental impacts of the product category as a whole, like say fuel-efficient SUV;
7. Sin of fibbing: An environmental claim that’s totally false, like products claiming to be Energy Star certified when they are not.

What happened at Volkswagen?

Volkswagen has for the longest time portrayed itself as a Green Crusader, with its 2013 Think Blue campaign and the stolid German trust as the harbinger of all its Social Responsibility campaigns. In the year 2013, under the Think Blue campaign, VW promoted its new fuel efficient and low emission models. In 2015, VW promoted diesel as a low-emissions alternative to gasoline and spent about $77 million in the US market. And as everyone now knows, VW was using software to trick emission tests on 11 million of its vehicles. Not only has this casted an aspersion on VW’s brand name, it has left discussions on all Green initiatives’ dubious and questionable.

Other examples of Greenwashing campaigns, and this list is definitely not exhaustive:

•  American airline EasyJet’s claim that traveling on their plane is better for the environment than driving a hybrid car;
•   Tyson Foods USA which was using “all natural” labels on its Chicken, even though they were treated with antibiotics and genetically modified corn;
•   Clairol’s shampoo brand, Herbal Essences’, claim of a ‘truly organic experience’ was busted with the discovery of chemicals in the shampoos like lauryl sulfate and propylene glycol which aren’t really that organic;
• In 2014, Korean car manufacturers Kia and Hyundai paid $300 million fine for overstating the gas mileage for its 1.2 million vehicles.

So, in a world of false promises, here’s another one that customers are now easily playing into since it’s all about caring for the environment. In India too, this fad has been catching up with people willing to pay more for organic and environment friendly products. Going further, Greenwashing should be highlighted more especially since customers are nowadays more gullible especially when it comes to electronic products, baby toys, diapers, pet food, paper products and even laundry detergents.

- Ms. Monica Mor

  Senior Faculty, INLEAD

Images Courtesy: Google Images 

Hospitality Industry undergoing a technological Transformation

Every industry is experiencing a technology-driven renovation, and the hospitality industry is no different.  Bitten by the technology bug, there has been a change in the way business is being done. This technological revolution is allowing businesses to have a more convenient, informed and valuable relationship with their customers.

Listed below are few technological advances that are transforming the hospitality industry and enabling a new level of customer service:

1) Online booking systems

They are extremely widespread in the hotel industry, with many restaurants also beginning to accept them. This would require a well-designed, mobile-friendly website with a simple interface.

2) EPOS

Electronic point of sale (EPOS) systems are becoming more and more sophisticated, allowing hospitality venues to operate more efficiently and provide better customer service. By integrating with CRM, inventory management, information on capacity, reservations, stock, loyalty programs and more is accessible.

3) CRM

Customer Relationship Management (CRM) software allows contacts and information to be organized and managed in one place. An effective CRM makes it easier to build ongoing relationships with customers, as well as making important details easily accessible to all staff via a cloud-based application.

4) Marketing Automation

 Marketing automation allows personalized emails to be sent to customers and prospects based on their activities and personal information. Advanced marketing automation software allows much more complex tasks to be performed, such as emailing customers who have been visiting or clicking on certain areas of the website or social media pages.

5) Social Media

 A social media presence is crucial, particularly given that Facebook is a popular platform for check-ins and reviews of restaurants and hotels. Attractive images are usually the most popular type of post. Businesses should also choose their social media platforms carefully based on their target audience, rather than simply joining all of them.

6) Smartphones

Hilton Worldwide has taken advantage of this by offering guests the ability to check in and out, select their room, check maps and make extra requests or purchases all from their smartphones. Another revolutionary service that soon will be made available is smartphones to function as room keys.

7) Smart appliances

Lighting, temperature, blinds, alarms, TV, radio and room service will all be controlled from a single tablet device, or from a single app that guests can download and login to from their own device.

Irrespective of the changes that these technology brings about , the truth is that they are there to enhance, not to replace, the core offerings of a hospitality business. Top quality food and customer service are still the fundamental pillars of the industry, but the technologies can make it easier to consistently deliver a memorable experience to your guests.

- Ms. Bindu Menon

  Senior Faculty, INLEAD 

Images Courtesy: Google Images 

Hotel Industry calling for Green Revolution!

“Sustainable development is the pathway to the future we want for all. It offers a framework to generate economic growth, achieve social justice, exercise environmental stewardship and strengthen governance.” - Ban Ki-Moon    

The Hotel Industry seems to have taken good inspiration from Mr. Ban Ki-Moon’s words of wisdom. Recent years have shown the Hotel industry trying to "green up" its operations, but the real question is, has this “Operation Green” gone beyond leaving out little cards to encourage guest reuse towels and linens?       

          

Hotels and hotel chains are taking sustainability more seriously, those little cards may seem like token environmentalism to some, but they can actually result in significant water, waste and cost reductions. The website Economically Sound reports that a 150-room hotel can conserve 72,000 gallons of water and 480 gallons of laundry soap every year by placing the cards in its guest rooms.  

Green Hotels

In another initiative, the industry has also started with a new concept called the Green Hotels. Green hotels are basically lodging properties that implement environmentally friendly practices and programs to save water and energy while reducing solid waste. The goal for green lodging properties is to minimize their impact on the environment.

The relevance of being green in hospitality is growing – introducing and implementing green practices to save water, conserve energy, and reduce waste, with the added benefit of decreasing overall operating costs. The significant savings yielded can be applied to enriching the quality of guests’ hotel experience.

Do eco-conscious hotels appeal to travelers?

Environmental initiatives are not just the ‘good’ thing to do – but have business-building power by positively driving the decision-making of consumers about where to spend their money. A key element to ensure success with the roll-out of green practices is thorough education of hotel staff, from management through all departments in the organization. It is empowering when employees play a role in assisting the hotel fulfill its eco-conscious mission. Making a mindset of sustainability-consciousness part of the business culture is a reflection of a hotel’s commitment to corporate social responsible.

Few green practices that the Hotel Industry has adopted are as follows:

·         Biodegradable 100% recycled room keys

·         Carbon Neutral and Hybrid vehicle/transportation service upon request with Concierge Services

·         Bed linens changed upon guest request to aid in water and energy conservation efforts

·         Towels replaced upon guest request allowing guests the option of re-using existing towels

·         All light panels in meeting rooms are allow users to select the most efficient setting based on the event

·         Food not consumed for meetings is provided to hotel associates free of charge or donated to local charities

·         Local and organic food products are offered (options are limited due to short growing season) limiting carbon offset for shipping

·         Electronic thermostats in guestrooms with pre-set settings to minimize energy consumption

·         Biodegradable gift/amenity bags are used

Tom Brokaw, a famous American television journalist once said, “It's easy to make a buck. It's a lot tougher to make a difference,” and the Hotel Industry seems to be coming around the idea just fine.

- Ms. Bindu Menon

  Senior Faculty, INLEAD 

Images Courtesy: Google Images 

Are you a BRAND ?

“If you don’t show up on Google, you don’t exist!”

The statement above is as true and scary as it sounds. How people perceive you has always been vital to a successful career. Now with the internet, social media, and the unrelenting purr of 24x7 businesses, the ability to brand and promote yourself effectively has become absolutely essential. No matter how talented or skilled you are, unless you are visible to the key players in your industry, or until managers can see your talent and think of you as an invaluable employee, a game-changer, or a person whose name is synonymous with success, you don’t exist. So, how do you stand out and get ahead?

This is where Personal Branding comes to our rescue. It is about marketing the product “you” by figuring out –

1. What your values, skills, and passions really are
2. Who you want to help, and What makes you different from others
3. If you want to have a great personal brand, it also needs to be memorable, consistent and help you achieve all of your personal and professional goals.

So, how to go about creating a truly memorable brand?

Discover your Brand

The first step in creating a memorable personal brand is to discover yourself, who you really are and what you really want to achieve. This can often be the hardest and the most time consuming part, but a strong start on this can make all the difference in the long run. You will need to consider what you want to gain from your brand and this starts at basic needs such as financial success, but also includes what your actual dreams are for your brand and what some day you wish to be proud of.

Next are your values - the core principles that drive you forward, they are the standards that you set for yourself, surrounding your actions and attitude. Another important factor in your brand is your passion. What are you passionate about? What will keep your energy levels up and determine how you spend most of your time?

Having a Brand statement is the next step. This is important in order to set a bar for yourself that you know you can't fall below, but it also allows others to see where you are coming from and what your brand stands for. 

Strengths and personal attributes can be interconnected. Your strengths are the abilities and interests that create a consistent positivity in your life in some way. These are the strengths that you must use to get your brand out there and really sell it apart. This also ties into your education and experience. These are often secondary but can lead you to gain more trust from potential clients or customers, or even colleagues.

You also need to research your competitors and find out what makes you unique. What can you do that others can't? What are you passionate about that others see as essential? This will set you apart.

Building your Brand and Creating Buzz

One of the most important things you need to figure out for your brand is your target audience. You will need to create a statement to this effect so that anyone interested in your brand will know exactly why you are unique and important.

Note – Your brand is a representation of yourself and vice-versa. It is essential that you are honest with yourself and honest about what your brand is about. Honesty is the real strength behind any brand.

You can use a number of Brand Building Tools to showcase your Brand – Business Cards, email ID, Facebook, Twitter, and LinkedIn are some of the prominent brand building tools that aid creating buzz about your personal brand among your target audience.

“Your personal brand is what people say about you, when you have left the room.” – Jeff Bezos (Founder & CEO – Amazon)

- Mr. Sumit Chakravarty
   Faculty, INLEAD

Images Courtesy- Google Images 

Frenzy at Skrillex event in Gurgaon- What were the lapses?

For most of us, the word ‘event’ is synonymous with music, artists, drinks, food and lots and lots of fun. But, what remains unnoticed is the amount of hard work that goes into making a particular event possible. For an event to be successful there are multiple minute critical aspects that need to be looked into.  An event not planned properly can turn a high profile event into an unpleasant memory in the minds of people, forever. One example of such an event was the Skrillex event in Gurgaon.

For the uninitiated: Sonny John "Skrillex" Moore aka Skrillex, is an American electronic music producer, DJ, singer and songwriter. All of 27 years of age, he is currently the latest craze amongst the young generation and they love his music compositions.

Skrillex was recently on a 4 city tour of India. His last show in India was on the 11^th of October, 2015 in HUDA Grounds, Gurgaon. The event was a huge success with a mammoth attendance of close to 15,000. The online ticketing for the event was managed by meraevents.com.

The event since then has been marred by massive controversies. Headlines in next day newspapers screamed “23 year old woman dies while dancing at crowded Skrillex gig”. The deceased while dancing vigorously collapsed due to cardiac arrest for lack of oxygen and could not be revived. Why was there oxygen shortage? The venue was overcrowded. Capacity of Leisure Valley, HUDA Grounds is between 5000 and 6000, whereas towards the first hour of the event there were about 15,000 people packed into the venue. Apparently, the deceased’s friend too collapsed due to suffocation and is still in a critical condition.

Where were the lapses?

•   Poorly organized event with very little emphasis on safety norms;
•  Inadequate security that could have prevented people who barged in without tickets from doing so;
•   No control over liquor which was being served to underaged audience;
•    Organisers who had taken an NOC for 5000 people didn’t anticipate or even share their apprehension about more numbers turning up for the event;
•   There were brawls amongst drunken youth which could hardly be contained;
•   Number of police personnel deployed for an event of such a mega scale was just about 90;
•     Inadequate parking space which had resulted in massive traffic jam around the venue.

The organizer, Mumbai’s Clockwork Events, is now facing charges of negligence (filed by deceased girl’s parents) as well as for allegedly violating excise norms. In fact, in future, any organizer of events will have to deposit a bank guarantee if liquor is to be served during the course of the event. But most importantly, Event organisers need to themselves be more particular about size and location of venue, number of attendees, as well as other amenities for the attendees. Memories from this gig which could have been all about Skrillex’s mind-blowing music has unfortunately been marred by the death of a young attendee due to overcrowding.

- Ms. Monica Mor

  Senior Faculty, INLEAD

Images Courtesy: Google Images 

The Crossroads of Ethics

“It takes less time to do things right, than to explain why you did it wrong.” – Henry Wadsworth Longfellow

Quite aptly, the statement above sums up the importance of doing the things right, what we call an ‘Ethical Business Practice’. Ethics in business can be compared to the Sun in our solar system. Like all the planets revolve around the Sun, businesses must revolve around, and absorb the energy from Ethics; else they’ll fall into a Black hole of defamation and losses. With the world becoming a marketplace, and the competition growing day by day, following the path of business ethics has become all the more imperative. While it is quite easy to slip into unethical practices, which many businesses resort to in order to grow, sustainability of a business is directly correlated to the moral values and promises the brands carry towards their consumers.

Reputation is one of a company’s most important assets, and one of the most difficult to rebuild, should it be lost. There are examples of blatant, non-ethical behavior, and probably one of the most high profile ones, is the Enron collapse. Enron, once a sleepy natural gas pipeline company, grew to become the nation’s seventh largest publicly-held corporation. But its shoddy business practices, aided by bankers and advisors feeding from the gravy train, brought down the company in December 2001. Their stock dropped from $70.00 a share to $0.25 a share within a year. Altogether, 16 former Enron executives including the then CEO Jeff Skilling had been sentenced to prison (Source: Forbes.com).

Enron’s heyday has long ended. But its lessons will long endure. Surely, if there are profits to be made, some type of scheme that attempts to skirt the law or even cross boundaries will occur. It’s been that way throughout history. But with each passing scandal, new rules and codes emerge that surpass those of the past. And while Enron won’t be the last case of corporate derelictions, its tumultuous tale did initiate a new age in business ethics. Another example from our very own country is the loss of face and worth Nestle India had to suffer recently, following a row on adulteration. Struck by an exceptional item charge of INR 451.6 crore on account of withdrawal of stocks of Maggi noodles, Nestle India reported a net loss of INR 64.40 crore for the second quarter ended June 30, 2015, — its first quarterly loss in at least 17 years( Source: The Indian Express).

Ethical behavior and corporate social responsibility can bring significant benefits to a business. For example, they may:

• Attract customers to the firm’s products, which means boosting sales and profits
• Attract good talent and retain employees, reduce labor turnover, and therefore, increase productivity
• Attract investors, keeping the share price high, thereby protecting the businesses from takeovers

- Mr. Sumit Chakravarty

  Faculty, INLEAD 

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