Talent Management- A strategy for the Aspiring Organizations

Organizations are required to make continuous efforts to ascertain that there are right people, at the right place, at the right time to accomplish its mission. Locating, recruiting, hiring, and developing the best talent is crucial, not just to support organization’s strategic planning, but also to contribute to a thriving work culture. Talent management is an organization's commitment to recruit, retain, and develop the most gifted and trained employees available in the job market.

While HR has been around since the dinosaurs, talent management is a relative newcomer. It is an important term as it comprises of the entire work process and systems that are related to retaining and developing a superior workforce. Failures in talent management are an ongoing foundation of pain for executives in modern organizations. Over the past generation, talent management practices, have by and large been dysfunctional, leading corporations to lurch from surpluses of talent to shortfalls to surpluses and back again.

An organization is able to attract and retain its best talent by entrusting its employees that they will have enormous opportunities to develop professionally within the organization. However, well before that an organization needs to be sure that it has the right pool of talent. Organizations, in order to never go wrong with the choice of talent and its management, need to follow simple process of Talent Management that is -

Step 1- Firstly, the organization needs to be aware of the type of talent that it requires to reach the goal of the organization. It is essential to align the talent management strategy with the business strategy of an organization.

Step 2-The Next step is to identify the essential skills set that each profile working for the organization requires. This step is achieved by structuring the levels of the organization and creating clear and coherent job profiles for each level.

Step 3-Later, the organization is required to identify the talent gaps within the system and to fill these gaps with the best suited talent.

Step 4-Once the right talent has been identified, the process of performance management needs to be applied, where the organization monitors the performance of each contributor and recognizes the achievements of its members.

Step 5-The last and the most important step of the entire process is managing the talent and retaining them with the organization. For this process to be effective, the talent needs to be provided with developmental opportunities and structured career paths.

Organizations with right set of tools and good talent management practices often have employees who are actively engaged and more satisfied with their roles. A strong and well aligned talent management culture also favorably impacts on how employees rate their organizations as places to work.

By:

Ms. Priyanka Trakroo-Faculty
INLEAD 

TA – TA Nano – A Shattered Dream?

‘Predicting future is Mission Impossible….. But not for the Gen X Nano’. If reports are to be believed, Nano will soon be discontinued in India owing to its falling sales and negligible market share. Introduced in 2008, Tata Nano swiftly became a global attraction. Despite its well-engineered design, Nano failed to transform the face of mobility in the country. This was primarily because of weak positioning, security attributes and lack of magnetizing marketing activities. Nevertheless, Tata Motors was quick to rejuvenate the product and re-introduce the Gen X Nano. In a market that is highly dominated by competing brands, Tata Nano created its own distinct image as a consequence of its pricing strategy. However, this fame was short-lived. Over the years, gaining market share and enhancing the bottom line has proved to be a daunting task for Gen X Nano.  Following are some of the most plausible reasons for Nano’s failure –

• Branding – Tata Motors tried its best to create a positive brand image for the Gen X Nano. However, the organization failed to position the product on the basis of its style and comfort.

Despite Tata’s constant marketing gimmicks, the consumers continued to see Nano as a low cost ‘cheap’ product, an image that the company itself created in 2008.

• Falling sales – Initially, Tata Motors was excited to see consumer’s positive response towards Gen X Nano. However, the organization failed to notice that Nano was again becoming a synonym to ‘Cheap’. Today, Nano sells less than 1,000 units on an average, which isn’t good news for a mass market car manufacturer (Financial Express Report, 2017).
• Flanking attacks – Since its launch in the year 2008, the competing brands have also focused on revealing the dark side of Nano.  Competitors such as Maruti, Hyundai and many more have focused on ‘competitive advertising’ that showcased the weak points of Nano. This further strengthened the negative perceptions of the consumers.
•  Availability of substitutes – With renowned individual brands such as Alto, Eon, Kwid, Datsun Go and many more, Tata Motors faces a stiff competition in the market. This is a roadblock that Nano is unable to overpower.

Regrettably, in a young and ambitious country like India, Nano was not the right recipe for success. With numerous challenges facing Nano, the future of Ratan Tata’s dream project appears to be in a fluid state.

Evolution of Sales as a functional area

A typical day in a salesman’s life starts with fixing appointments and following it up with meetings to close the leads generated with the help of the tele calling team. The trips in the city, the innumerable phone calls and finally filling of a Sales log, are highlights that mark the day. It’s a long & tedious day, but the efforts are all compensated by a sizeable salary & associated perks. There have been books written by umpteen star salesmen and management gurus on how to be a better salesman. Authors like Zig Ziglar have made millions by just selling their books on salesmanship.

Times are now changing and ‘sales’ is no longer the tedious set of activities it used to be before. The profile has received a massive upgradation in terms of the paraphernalia that has got associated with the job responsibility of a salesman, thereby rendering it a highly desirable profile across different industries. By paraphernalia, one tends to imagine equipments like gadgets and collaterals. Those are just some of the many. Sales calls are now done over Skype and video conferencing since travelling has become very time consuming these days. Detailed discussions are put in the form of bullet points and shared over emails formally, while multiple mini - discussions are followed up via informal WhatsApp conversations.

Sales earlier had connotations of personal selling, which required meeting clients on a regular basis to keep them connected, nowadays, there’s a team of pre-sales people who are responsible for all customer relationship activities. There are e-CRM softwares that assist the sales team to keep a track of the levels of interaction with a client pre & post sales closure. The after sales services are vital to ensure that the customer remains loyal and doesn’t start looking for options. This implies that just one salesman is not expected to be involved in the entire cycle from pre to post sales. He/she is assisted by a team from sales operations that are efficient in MIS management for all requirements of a client.

Digital platforms have further lessened the requirement of face to face interactions. Connecting with vendors via Twitter and ERP softwares, connecting with front end clients via CRM softwares has lowered the burden on a salesman, who is now just required to close leads and ensure customer satisfaction via provision of requisite services. We thus say that salesmanship has evolved to a level of “Consultative Selling” and “Relationship Selling”, where clients find it extremely convenient to remain in touch with their respective relationship managers to derive full benefit of the products purchased and services availed, after their initial interaction with the salesman. Thus we can say that the era of a Salesman has kind of come to an end and we can now talk of Business development managers, who bring revenue to their company and also ensure that the customer remains associated with their company such that the company can derive the Life Time Value from each of its customers.

 

Going further, in subsequent blogs, we will look into what terms like Consultative Selling and Life Time Value mean. Till then, be that bright spark that can help you succeed in all your endeavours.

By:

Monica Mor - Senior Faculty
INLEAD

A Craft called Digital Marketing

Social media, Search engine optimization, Pay per click, Websites, etc.. have become words/phrases used in common parlance. Yet there are many who are not tuned to these words. They may have access to smart phones and maybe watching videos or listening to music online, yet are they truly familiar with the business model of Digital Marketing?

So what according to them is digital marketing? Majority would answer with statements like “I can book tickets online”; “I can post pictures on Instagram”; or “I can Snap Chat or WhatsApp with my friends”. Yet the true meaning of Digital Marketing comes from the second word in this phrase, i.e “marketing”. Digital implies the online platforms that are at our disposal these days. Ranging from the ubiquitous Facebook to the selectively used Apps like Viral Shots. The term “digital” also deems it imperative that there has to be internet connectivity, and since it’s an era of smartphones the availability of adequate amount of “data” is essential. Marketing on the other hand refers to the monetization of all sources of media, online or offline to ensure that the outreach to prospective or existing customers is successful. Does that result in increased sales, is a matter of separate discussion, but the narrative around Digital Marketing primarily focuses around increased eyeballs and better positioning of the brands or products or services in the minds of target audiences.

Definition of Marketing Management, according to Kotler & Keller (2008) is “the art & science of choosing target markets and getting, keeping & growing customers through creating, delivering, and communicating superior customer value.” If we look deeper into each element of this definition it will reflect the enormity of the definition and that of each word in its singularity.

The first question that arises when one reads this definition is the usage of the dyad ‘art’ and ‘science’. Art has its connection with creativity and the craft associated with marketing, whereas Science is all about the logical and numeracy aspects of marketing. Yet the twain has to meet and it does especially with advertisements and the design aspects of the product or service. There can’t be a better and more effective, monetarily as well as creatively, platform than digital.

As we explore the definition more acutely we come across the phrase ‘superior customer value’ and we are immediately drawn to the images and texts that are put together like stories for consumption by target audience. For a customer who by the click of a mouse or a scroll along the phone screen can decide what content he or she wants to associate with, it’s become quite a tedious task to keep them engaged effectively. Where the traditional forms of marketing like TV commercials are becoming slightly laggard in their approach, digital is slowly & steadily racing ahead in correlating with an increasingly young audience. Superior customer value therefore, in the case of digital marketing does seem achievable as digital marketing itself evolves to touch new heights of glory and innovation.

The canvass for Digital marketing is wide and bright, and new players in the market are writing new discourses and are breaking more & more barriers while effectively reaching out to the right audience at the right time. Many would also argue against Digital marketing especially due to the presence of a humongous quantum of online platforms and easy accessibility to unwholesome content, one of the worst examples being the Blue Whale Challenge, the jury is definitely out there on the utility and successful utilization of Digital marketing.

Watch this space for more such discussions on this effervescent & intriguing topic of Digital Marketing.

By:

Monica Mor - Senior Faculty

INLEAD

Orientation Week July 2017 Batch

Last week saw INLEAD opening its campus doors to its new July 2017 batch. Every quarter INLEAD welcomes new students into their classrooms, and before classes begin students are put through an Orientation Week. During the course of the week, multiple activities were conducted for the newly christened INLEADers to encourage them to get to know the institute, the faculty members, and most importantly their batchmates.

Through the various activities that were conducted over the span of a week, students get an idea of their courses, the placement opportunities, their teachers, their mentors and facilities in the campus.

Day 1 to Day 2 was all about Registration, Orientation about Life at INLEAD, as well as Corporate orientation. There were sessions conducted by Ms. Monica Mor telling them about the various activities and course modules that they would be undergoing in their stint at INLEAD. They had sessions with subject faculty experts who introduced students to the various streams they had taken admission in, as well as the type of placement opportunities that would be available for them. 

This was followed by two days of Ice Breaking sessions comprising activities in the domain of Team Dynamics and Mental Abilities. They formed teams, chose a captain each and tried to work on their mental faculties to get their brain cells working overtime. 

Day 5 was when students were required to get a hold of their teammates and compete intensively with other teams to win hampers. This session was a celebration. A beginning of a new journey for all the students present.

The session began with the INLEADers getting to know each other better by playing an Ice breaking game called 2 Truths and a Lie, where students participated fully with enthusiasm and energy. Thereafter, Ms. Monica, Ms. Priyanka and Ms. Sakshi initiated the first activity titled-Land Mine. One student from each team was blindfolded and had to, with instructions from his team members, collect as many plastic balls as possible. Students participated with enthusiasm that was so palpable that there was  so much noise that it was sometimes getting difficult to control them and ensure that they aren’t violating rules.

Next, the students engaged in a craft activity where with newspapers and a scale they had to create circles, squares and triangles, and the team with the most number of shapes won. Students united as teams and came out with innovative and intelligent ideas to maximize their team score.This game was a game changer, where a winning team lost the game and eventually the competition. They were beaten by a team of underdogs who worked very hard on their team dynamics and finally got their act together at the nick of time.

Overall, the Orientation Week comprising Faculty and T&P team interactions as well as the Team Dynamics session was a grand success and a great start for all the students paving their way towards a brighter future.

Fusion Cooking- My Imaginary World

Right from when I was 15 years, I was very passionate about cooking new things, which I saw on television and around the same time I was also addicted to TV shows like Eat Street, Master Chef Australia, and Food Safari etc. So,  I ended up making a dish every day for myself and for the family, but only with the ingredients that were available at the local store. The dish, which I used to make ended up in a different color, texture, and size, but with minor altercations, which could be easily noted and it was mainly because of the ingredients used.

One lazy Sunday, I was watching a chef cook Italian pizza on an Indian cookery show and that got me thinking to another level, and I decided to make a pizza but in my own style. By then, I had realized that the food could be made, through different available ingredients in the market, which can give a new and better taste, to the dish every time you make it. I had some green peppers, colored bell peppers, sweet corn, some mushrooms, cheese but no pizza base, and at that time we didn’t have oven even. So, I decided to make my pizza bread on Indian pan called “Tawa or a Frying Pan”. I decided to follow recipe of pizza dough from internet but couldn’t get some key ingredients like dry yeast. The thought struck that Indians to have bread, why can’t I use that as my pizza base? On rummaging in the refrigerator, which was an old habit, I found whole-wheat dough that was kneaded for our lunch to make hot phulkas and some mashed potatoes masala, remains from the morning breakfast.

I made a thick and crispy aloo parantha on which I placed everything like we normally do on pizza, added cheese, herbs, chili flakes, covered it with a lid to get the cheese to melt. The end product looked yummy, tasted even better than a pizza and also looked like a pizza, that’s how I came up with my Indian version of pizza called “Pizza Parantha” which became my signature dish.

Fusion became a part of my daily routine, I tried something or the other each and every day, some days I was a success and some days it would be a disaster. One thing that was consistent in this trial and error period was that every day I would cook and didn’t lose hope.  Few things that I think I created magic was with of course my signature dish and also few dishes like paneer infused thecha, the bird’s nest, pasanda foam, coconut garlic sand etc.

Today, FUSION for me is my imaginary world where I can go anytime I want, and can mix up different food. I want people to try this interesting mix that I cook up now too frequently and enjoy the food the same way as I enjoy in cooking.

By:                       
Mohit Ramrakhyani

Student, INLEAD

  

Your Attitude determines Your Altitude

Life is a combination of highs and lows…mountains and valleys. Sometimes times are good and many times they are tough. But with the right kind of attitude you can achieve personal and professional success. 

Attitude is the way you take things . Your thoughts about what happens to you determine how situations and events will affect you. Having an optimistic and a positive attitude helps one in facing challenging and tough situations with élan and grace.

Some pointers for Optimism:

1. Win-Win Mindset: You need to relook at relationships. You need to realize that you need to give and contribute to get and achieve. Both parties should gain and grow. Having  a mutually beneficial mindset helps in cooperation and mutually beneficial success and enhanced performance.

2. Self-Driven:  You need to be self-driven and motivated. Read inspirational literature. Listen to great speeches and speakers. Keep a positivity journal. Think positive thoughts and research the net for positive thoughts by great personalities.

3. Passion & Devotion: Nothing great has ever been achieved without passion and devotion. You have to think, dream, breathe your goal. You need to take initiative and be proactive. You need to be self-driven and resourceful.

4. Learning and Growing-Maturity: Be an eternal Student. Seize opportunities to learn and grow. Educate yourself in multidimensional subjects .Be aware and alert and keep your knowledge base updated. The more aware you become the more you become.

You need to see the glass as half full. Every adversity has an opportunity. Seize that opportunity and do the best you can, give it your best shot. The only thing which you stand to lose is your ignorance.

By:   

Mr. Siddharth Anand

Faculty, INLEAD

Destination Weddings Are Back In Trend

Wedding planning is a uniquely special experience for a couple and the family, and it's not at all easy!  A wedding planner can help to take the stress and be a saviour in this case. From finding out the perfect location to designing personalized wedding themes, as well as maintaining cultural and religious sentiments. Wedding planner is responsible to bring logic to emotional laden decisions.

Destination weddings are becoming increasingly popular and something different from the standard, cookie-cutter weddings as couples decide to forgo the traditions and rituals of getting married in the bride’s home town and choose to exchange their vows on a tropical sun drenched beach instead.

It’s a big YES!! for the Couples who want skip the processional, the receiving line, the speeches, and the basic process and are just focusing on putting on the dancing and enjoying themselves with their partner and the closed ones.

Wedding planning may be easier with a destination wedding if you opt for an all-inclusive package. You won’t have to choose between endless suppliers, and negotiate on everything from the catering to the music as all this will be done for you by the wedding coordinator at your destination.

If the idea of a destination wedding is appealing, but you aren’t entirely sure you want to give up that big white wedding, here are some of the pros of a destination wedding to help you make up your mind:

1. Interesting themes: Destination wedding allows you to have unique scenery as a stunning wedding backdrop; you can incorporate local traditions, decorations, and cuisine into your ceremony and reception. There are plenty of destination wedding ideas to make your wedding unique.

2. Relaxed: A destination wedding tends to be more relaxed and less formal than a traditional wedding at home. Having a destination wedding eliminates a great deal of stress since the wedding is far away and only a limited number of people can attend.

3. Uncomplicated: Destination weddings can be so much simpler to plan and execute than close to home weddings.. The reason it is simpler is that many destinations have pre-designed wedding packages that are created by professional wedding planners. The packages include all of the components a beautiful wedding requires, and the bride and groom need only make a few decisions and the rest is taken care of for them. 

4. Intimate and personal celebration: The celebration includes the couple and handful of a very close friends and relatives. There is no pressure of inviting work colleagues, distant cousins, or people you barely know.

5. Much Cheaper: Generally a destination wedding works out cheaper than a home based wedding due to the smaller guest list and the reduction in expensive wedding customs and items. The couple can customize everything as per the requirements.

By:   

Sakshi Vig

Faculty, INLEAD

Scorpio is Now 15 Years Old

India was the fourth largest motor vehicle /car manufacturer in the world in 2016. There are many exciting stories about different brands that have created a breakthrough in India, like the iconic Maruti 800, the table turner Hyundai Santro, the swift & agile Renault Duster and of course the current huge demand for luxury brands like BMW, Audi and Mercedes. Car manufacturers have always shown a significant interest in the vibrant car market of India.

The history of Scorpio

At a time in early 2000s when India was going gaga over Toyota Qualis, Mahindra & Mahindra launched a unique Made in India SUV and named it Scorpio. In 2002 Scorpio outsold all SUVs and MUVs that were on display in showrooms across the nation. For the uninitiated MUV is Multi Utility Vehicle & SUV is Sports Utility Vehicle. The few MUVs that we Indians were used to, were the Gypsy from Maruti Suzuki and Commander from M&M itself. But soon enough Gypsy ended being a Police vehicle while Commander got relegated to the rural areas especially in hill stations for off-roading jobs. Qualis was a very exciting product from Toyota which around the year 1997 had made a grand entry into the Indian vehicular market space in a tie-up with the Kirloskar group. Qualis soon enough with the boom in ITES industry became a part of office cab fleets, and people could not buy a car that was a ‘taxi’, and inevitably Toyota had to disband Qualis’ manufacturing in the long run. Scorpio was a macho SUV that burst into the Indian car space in 2002 with its rugged good looks, 2.6 litre turbo diesel engine and a pocket-friendly price tag of Rs. 5.5 lakhs (about 50,000 Rs. cheaper than Qualis). Scorpio since then has held its ground till it suffered a huge competition from the Innova (Toyota), Duster(Renault), & of late by Creta (Hyundai) and Brezza (Suzuki).

Scorpio by now has sold a humungous 5,80,000 units across 15 years which include about 55,000 units sold abroad. Project Scorpio was conceived with investment of Rs. 500 crores, a huge amount in 2002. Accroding to Anand Mahindra, Chairman M&M, the company at the time was undergoing a business process reengineering with massive restructurings underway. The SUV Scorpio project had seemed like a huge gamble, especially with a 26 year old Design graduate from IIT, who was responsible for the now famous design of the 7-seater SUV.  As a throwback the company attributes three reasons for the success of Scorpio; its design, its powertrain (100 HP engine) & its sub Rs.6 lakh pricing.

Company to this day believes that the Scorpio embodies Mahindra’s tough & rugged DNA, its styling, its off-roading capability & its reliability. While the product has undergone many changes in its design & its engineering, M&M’s another SUV named XUV, which has been performing really well in the SUV segment. The M&M has over the years shown some slowdown in its sales, but the fact is that between Scorpio, XUV & Bolero, the company has created a respectable space in the Indian SUV market.

The future…

M&M is working on bettering its product, a product that has a huge nostalgia element with Indians. They might even have to do a complete model change if sales do not pick up. The biggest competitor interestingly is not from other SUVs but from car aggregator segments like Uber & Ola which is partially responsible for a drop in sales of cars in India over some time now.

Well, let’s hope India’s truly Indian SUV with ruggedness in its DNA does not lose its space and die out!

By:
Ms. Monica Mor
Sr. Faculty, INLEAD

Time to say “WOW”!

WOW Awards Asia is an initiative of EVENTFAQS Media - A multi-channel platform focused on the events, entertainment and experiential industry.

The WOW Awards and Conventions 2017 concluded with two dazzling ceremonies on 6th & 8th of July. The Wow Convention was organized in Hotel Pullman, Aerocity and WOW Awards Asia – Gala Dinner at the JW Marriott Aerocity, New Delhi. The best campaigns in Asia in the experiential domain were recognized. The award ceremonies were hosted by Gitikka Ganju Dhar on Day 1 & Day 2 respectively and saw a total of 70 Categories across 5 groups -Business/MICE Events, Experiential Marketing, Event Intellectual Properties, Experiential Celebrations and Experiential Management.

The 70 categories of WOW Awards Asia 2017 encompass every aspect of the experiential business. WOW Awards Asia is not only one of the biggest recognition platforms in the world in terms of sheer size of participation and level of competition, it is also truly the most holistic

Any event / experiential campaign executed anywhere across the globe, by any company / brand / institution / association / organization based in Asia was eligible for entry across categories

Group 1: MICE/Business Events - This Group majorly recognized events, tours, incentive of brands, associations, offsite etc. Under Mice, there were 8 categories.

Group 2: Experiential Marketing - This group totally focuses on campaigns, events, initiatives of brands, associations etc. for a defined consumer with the purpose of promotion and marketing.

Group 3: Event Intellectual Properties- Third group totally focusses on Intellectual properties work. With 9 categories, it includes activities done in relation with IPs; entries in this group can be made by the IP owner or any organizer. Some of the examples of IPs are: Tradeshows, sport festivals, Exhibitions etc.

Group 4: Experiential Celebrations – This group recognizes different aspects of weddings, social events including design, décor, F& B, invitations, Guest relations and so on.

Group 5: Experiential Management –The last group includes 12 categories that recognize the management and execution aspects of events across formats, celebrating the contribution of supply partners and vendors. Production management, trussing, lighting, sound, hospitality and logistics are some of the elements of an event that are separately recognised through Awards in categories under this group.

Each year, with over 100 Marketers visits WOW Awards and Convention Asia, the one unanimous idea is to Explore New, Creative, and Dynamic Agencies setting the benchmarks in the event industry. WOW is one of the systematic and exclusive platform, making it possible.

By:   
Sakshi Vig
Faculty, INLEAD

India OUTBOUND

Sluggish economy, so called recession, demonetization or poor sentiments…looks like none of this has shown any impact on the outbound travel from India. India has emerged as the world’s fastest–growing outbound market and is second to China. Tourism boards in foreign countries are gearing up to meet this surge in demand head on by establishing their offices in the country, or using representations or their embassies/ cultural desks to test the waters, before taking the plummet. Leisure and Business travel, MICE tourism are the most substantial providers for emergent outbound travel. The easy availability of attractive packages, increased promotion by travel agents/ tour operators and destination countries will further drive outbound departures.

According to a visit analysis survey done by Express Hotelier and Caterer, by 2018 nearly 30 million will be the number of outbound tourists from India. The list most likely will be dominated by business travel; holiday and VFR (visit to friends and relatives) trips. Niche markets such as sports tourism, luxury travels, MICE, honeymoon packages and cruises also have a lot of potential. Thailand tops the list as the most popular tourist destination for Indian travelers, followed by Singapore. United States and China which stands at the third and fourth spot and Malaysia is at fifth position.

Indian travelers are exploring new and emerging countries among them are Sri Lanka, South Africa, European, Far East Asian countries are becoming the destination of choice for Indian tourists. According to a survey done by Forbes, Indian tourist are considered to be among the world’s highest spenders, it is estimated to be four times than that of the Chinese and Japanese.  The average Indian traveler spends $1,200 per visit as compared with Americans who spend about $700, and Brits who spend $500. The trend earlier showed that majority of the outbound tourism happened through Tier 1 cities, but smaller cities like Jaipur, Ahmedabad and Amritsar are also catching up.

The driving factor for the increase in India’s outbound tourism can be contributed to the growing middle class, increased disposable income, exposure and affordable travel packages. A galore of information is available on the internet, all one needs to do choose a destination. Technology has also changed the way people now travel; they make all the bookings in advance and have all the necessary information beforehand. Low cost carriers (LCC) have also changed the way people now travel. Domestic travel too are not that cheap, so a travelers gets into thinking “that if the cost of a domestic travel is going to work almost equivalent to an international travel, why not opt for the latter”. Plus, taking into consideration the peer pressure, it sounds more fancier to say to you went for a holiday abroad, you get to post all those wonderful pictures on Facebook and Instagram.

Bollywood has also significantly influenced the outbound tourism. The beautiful locales, scenery, culture clubbed with songs, dance and drama has hugely influenced the travelers to explore the destinations. The movies may/may not have garnered business, but these destinations sure did. Few examples of destinations that became popular thanks to Bollywood was: Spain after Zindagi Na Milegi Dobara, Ek Tha Tiger was extensively shot in Turkey, Corsica in Tamasha, Yash Raj and Karan Johar made London, Europe and USA popular, who can forget DDLJ, Chandini, Ae Dil Hai Mushkil, Kal Ho Na Ho. The list is endless, every time these movies were watched or songs played each one of us would have put these destinations in our bucket list.

Well, all of this sound very easy and the figures look very impressive, but this industry too has challenges’. The biggest being dealing with customers who are extremely price sensitive and are inherent shoppers, bargaining is a cultural trait. As customers, we are not very trusting and are not comfortable with the agency fees. Secondly, the exchange rates and the rupee depreciation also has become a very big hurdle for Indian outbound tourism. He changing economy patterns; read demonetization and GST will also have an impact. While that is yet to be seen, most of the travelers are back to their nest after an incredible trip to Prague or Vienna or New Zealand or Oman, and already calling their travel agents or are hooked onto the internet; planning their next one!

By: 

Ms. Bindu Menon

Sr. Faculty, INLEAD 

INLEADers @Dulux Club Partners Meet 2017

Students of INLEAD recently got a chance to work as volunteers in an event: Dulux Club Partners Meet 2017 at J. W. Marriot, Aerocity Delhi. The event was managed by an event company called WORKOHOLICS. There were two batches of volunteers (six in each) with different time slots (1st batch- 6.30 A.M to 12.00 A.M. and 2nd batch from 5 P.M. to 12.00 A.M.). Reaching venue at 6.30 a.m. the 1st batch was made familiar with the Venue and the event setup. Then a short brief about the event was shared with the team to make them understand, what the event was all about. It primarily was a grand event hosted for all partners including vendors and distributors of the brand Dulux paints from the company Akzo Nobel.

The work required grouping of plaques alphabetically and the  making welcome kits for the respective guests. It took almost about 4 hours to make the kits and arrange them near the welcome desk area. 

In the evening time, the volunteers were segregated into different groups of 3 or 4 in each. One group of student brought trophies at backstage and unpacked them. Two girls were given the responsibility of arranging trophies according to the felicitation flow. Others managed the welcome desk and helped the clients and management with miscellaneous activities. Another group was given responsibility of distributing welcome kits and gift to the guest in their rooms, while a third group was unpacking the left over kits. Another group was given a task for putting photographs in frames clicked in one zone and then sending them to their respective zones. 

Overall, the students had a great experience there and learned a lot. They understood the importance of how to work in coordination and in teams. It was 2 rigorous days, but students had a great experience.

What Does a PR Professional Do?

Communications is an exciting field and Careers in communications include advertising, public relations, journalism, and film & television. In today’s business world, it is vital to build and maintain relationships with customers, employees, and communities.

A commonly asked question in this industry is: “What does a PR professional do?”

PRSA states, “Public Relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics.”

With the public relations industry experiencing significant growth, the fundamentals of the profession, including the ability to develop strategic communication plans, build relationships with key constituents, maintain and enhance organizational reputations, improve customer response, and communicate effectively, will remain the foundations of the industry. Today’s PR professional will need to possess a combination of capabilities that enable them to be effective in the areas of marketing, management, social media, and production.

A PR professional tells the story

PR professionals are the voice of a brand. They have the responsibility of managing, growing, and guiding an audience’s image of said brand. PR professionals bring attention to their clients to earn free media coverage in newspapers, TV, radio, magazines, and websites.

They shape the debate / manage crisis situations

Things aren’t always so peachy in the world of PR. Every organization is vulnerable to crisis. From natural disasters and human error to technical glitches and executive wrongdoing, a PR professional should always be prepared with a plan of action.

A PR professional tells the truth

Journalists are bombarded with press releases, receiving hundreds per day. Reporters are most likely to pay attention to those from a trusted source. Although a little white lie may be tempting in times of crisis, a good PR professional knows that this will ultimately undermine credibility not only with your publics, but also the media, who, in this position, should be one of your best friends.

A PR professional builds relationships

The heart of public relations is a PR professional’s ability to form mutually beneficial relationships not only with clients, but also the media. People want to interact with organizations that seem approachable and knowledgeable. If they know and trust you, they are going to be more inclined to work with you.

A PR professional writes

PR professionals are not only strong verbal communicators, they also excel at writing. We are in a digital age where it is important to know how to properly write an email, press release, or blog post. 

A PR professional is informed and updated

PR professionals know their clients, the company, the media, and the industry like the back of their hand. They need to be on top of news and trends so they can harness what they know and respond with story ideas that best position their client.

Essentially, public relations is about creating understanding through knowledge, and this often involves effecting change. Public  relations is therefore a form of communication. It applies to every sort of organisation, commercial or non commercial, in the public or private sector.

By:   
Sakshi Vig
Faculty, INLEAD

MICE and HOSPITALITY – The Scope & Challenges

The MICE market globally is estimated at a size of US$280 $300 billion which includes around 400,000 conferences and exhibitions. Economies of many countries thrive on this sector. In the recent times the Asian MICE market has been one of the biggest growth stories with a rate of 38 per cent rise since 2006 which accounts for US$60 billion.

Even with these impressive figures, India is one nation which is yet to hit the potential of this huge MICE business. Hotel brands/convention or meeting spaces that are coming up new are now focusing on the MICE segment and are designing spaces to cater to the requirement. As compared to the international market India lacks world class exhibition and conferencing venues; this alone is not the concern. We also lack amenities which include basic infrastructure, connectivity, safety, cleanliness and hygiene. Though the government is taking lot of steps in this segment in terms of taxation, public education, relaxation in FDI policy; but all these just doesn’t seem enough.  Another major challenge is the higher taxation policies by the governments, which results in the business being given to the neighboring competitors.

According to the ITB World Travel Trends Report, MICE contribution to the total travel market is 54 per cent. Taken from a report in 2015, North America has the largest market share, followed by Europe and Asia Pacific which is further bound to grow. India, shares only one per cent of the global market share. The target set by Government of India is to attain a share of 2% by 2025. In 2012, India was ranked 25^th as a MICE destination in 2012, which now has been downgraded to the 35th position. India holds the position of the 10^th largest business travel markets in the world. India has a lot to offer as one of the most lucrative destinations with its world heritage sites, culture and ethos, this is what needs to be highlighted and developed.

One of the other challenges that MICE business faces are the trend of various corporate tightening their travel and conference budgets. As a result MICE is getting fewer responses as these corporates then use their in house meeting rooms and conferencing facilities. The changing dynamics in the global economic scenario, emerging economies in Asia and Middle East are now important business destinations. Indian economy too witnessed lot of investment in sectors like hospitality, healthcare, IT, manufacturing etc. India’s domestic MICE, market is quite strong and inbound MICE market is also picking up with a lot of active support and involvement from the Ministry of Tourism. Hoteliers are very positive that the MICE business in India will grow. MICE requirements are growing for different sectors, be it FMCG, telecommunications, BFSI, IT, healthcare and energy. The list is endless.

Ministry of Tourism had adopted an aggressive approach to promote this segment. In fact, the new Tourism Policy which is to be released anytime soon has identified MICE as a major growth driver for the Indian tourism industry. The Ministry is also looking to extend the e -Tourist Visa initiative to the MICE sector.

There are new developments to create global standard convention centers. In a recent development to the Ministry of Commerce, announced that Pragati Maidan is all set to go under re-developed and will be transformed into a world class convention center. 

Hilton Worldwide recently introduced the Conrad brand in India, with its first hotel opening in Pune. This hotel has been projected as a luxury MICE destination. Pune and Chennai have seen an increase in demand from this segment, and specifically from the IT industries

MICE are a very niche product and needs to be marketed in a focused manner. While there are no hard and fast rule on attracting MICE clients, it is important that its needs a lot of support and assistance airlines, hotels, transport companies, cultural organizations, boutiques, and travel agents to target markets potential MICE clients.

By: 

Ms. Bindu Menon

Sr. Faculty, INLEAD 

Towards Win-Win Associations

We are living in a fast paced competitive corporate world. We are short on time and temper. Today most relationships are through social media and cell phones. In these fast changing and dynamic times it becomes critical and pivotal to have deep meaning full win-win relationships.

These pointers will help you achieve Win-Win associations:

1. Complements:

Complement people on their looks , attire, attitude, nature and achievements. People are fond of kind words and niceties. Every time you complement someone you make a special emotional deposit in their minds and hearts. Say nice things and it will make all the difference.

2. Remembering Special Days:

If you remember people they will never forget you. Remembering Birthdays and Anniversaries will surely create a special feeling and fondness towards the one who wishes .Make notes of special days of friends and colleagues. Remember them, complement them and celebrate with them and within no time you would have great awesome relationships and more people to love and share with.

3. Remembering Names:

The sound of one’s name is sweet to everyone. Remember names through mental associations. People always feel good when you take their name and greet them. Taking and remembering names breeds familiarity and lead to lasting rich relationships.

4. Investing Time:

To get something you should give something. If you desire rich win-win relationships you will have to invest time into them. Take out some time to call up old friends and former associates. Complement them, share with them, respect them and they will reciprocate with the same for you.

5. Avoiding Politics:

Avoid gossip, back biting, cheating or groupism .These spoil the office atmosphere and create negativity. Keep aloof of gossip mongrels and make friends with positive focused and happy people.

6. Authentic interactions:

Be truthful and authentic. People get to know when you are lying or trying to be politically correct. People operate through feelings and they respond to feelings. So avoid that fake smile or that curt comment or below the belt sarcasm. Be authentic and truthful. Be nice and people will be nice to you.

By:

Siddharth Anand

Faculty, INLEAD

Everything Is Just A Thought

Come to think of it…everything that you experience is just a though and an emotion. Happiness is a thought…misery is a thought…enthusiasm is a thought…depression is a thought.

Victor Frankel was a German psychologist who was captured and tortured in Nazi concentration camps of Hitler’s Germany. He was awarded solitary confinement and was locked in a dark empty rooms with no outlets. While he was going through this torture he realized the fundamental of all freedoms….the freedom to choose your thoughts and emotions…..so he started thinking happy thoughts and proved that no matter what the situations you can still have happiness and joy…so you can become happy when you want and all thoughts are choices….you choose your thoughts and this is a great truth…perhaps the greatest truth.

 So to take control of your thoughts you have to realize:

1. You have the freedom to choose:

Just as Victor Frankel realized that he had the freedom to be happy even in the midst of all the torture by thinking happy thoughts…you can also start to exercise these freedom by taking control of your thoughts and creating a space between stimuli and response.

2. You create your Destiny

Your Thoughts and Actions create your character and your character and habits create your destiny. The trick is to make a habit of thinking positive happy and motivational thoughts so that you are happy and successful wherever you are.

3. Detachment & Awakening

You need to detach yourself from the wrong habits that you have formed over the years. You need to stay aloof and observe without involvement. The more you observe the more you detach from your thoughts and emotions and you can control and use them to be happy and successful. 

By:

Siddharth Anand

Faculty, INLEAD

Hard Work vs. Smart Work

We are living in a digital age where we are overloaded with information and this is a good thing as well as a bad thing. Good thing because we are able to get information at a click of a button thus saving precious time and bad because we have become too dependent on technology.

Hard work is passé. Smart work is the new buzzword. Smart work does not mean shirking or taking shortcuts instead it entails using intelligence, cooperation and interpersonal expertise to create the right kind of synergy to get the work done before time without compromising on quality.

Smart Work has the following Characteristics:

1. Synergy

Synergy means one and one become eleven. It means taking the intelligence from all possible sources to maximize the team’s effectiveness and efficiency. In synergy all are equal. All can contribute not barring positions.

2. Creativity

Creativity is critical in this innovation driven world. Creativity and Innovation are appreciated in every work environment. Creativity brings in new opportunities and avenues thus creating a dynamic vibrant work environment

3. Resoursefulness

You have to be open to all sources of information, be it office gossip or the hot new news. Information is critical to resourcefulness. One has to be innovative and develop the ability to think on your feet.

4. Spontienity

Corporates are creating dynamic and creative work environment so that people are driven towards creativity and innovation.Spontanity brings in new thinking and new possibilities.
You do not need to toil your life away searching for and seeking success. If you use the above mentioned techniques you can be smart and easily sail through life and actualize your goals.

By:

Siddharth Anand

Faculty, INLEAD

What Is Professionalism?

Someone brilliantly put it “When in Rome, do as the Romans Do”. This old and wise saying is as relevant in today’s corporate world as ever. When you are working in the corporate world you need to look the part. You are representing the company and the company’s image depends on your behavior and demeanor.

It is a great responsibility to represent a company and you need to ensure that you do your best and look the best too.

Professionalism includes:

1. Looking the Part:

A well ironed white shirt with a red tie and a black suit just fits the bill. Be sure that your clothes are well ironed and fit you well. Wearing a tie is not compulsory but adds to your demeanor and enhances your brand image. Shoes should be polished and should be black or brown. Hair should be neat and it important to be clean shaved. Over all you should appear to be pleasing to the eyes.

2. Maintaining Protocol: 

You should be careful not to cross boundaries or overstep authority. If you do this you might seem to be over ambitious and rebellious, both of which are tags you would rather not have. Give respect and you will get respect. Always follow the right protocol when suggesting improvements or escalating issues. This will earn you respect and the comrade of your co-workers and seniors

3. Character & Integrity:

 Some believe that Character is passé ,but is as far from truth as you can get. Character is critical to success. Virtues like Honesty, Sincerity and loyalty are still greatly valued. You also need to work on your image making the right moves at the right time at the same time not compromising on integrity.

4. Competence:

You should be a Smart Worker rather than being a hard worker. Because we are short on time trying to burn the candle from both ends, so to make the best of one’s time and efforts it is important to be efficient and effective.

By:

Siddharth Anand

Faculty, INLEAD

Food Trends

People earlier people had reservation in leaving their native country to settle down in a different place, while, the fear was about cultural diversity, one of the main concerns was also about food…habits, taste, diet restrictions and beliefs. Well, globalization to a large extent took care of that aspect.

A vegetarian today can find comfort in USA, as how a Korean can find his food in India. Of course exceptions are there, the Chinese food that we eat in India is exclusively available here, even Chinese do not have in China. People now are becoming Vegans, now that’s a new trend that we are talking about. Restaurants are finding ways to feed their guest beet green, seaweed and kale which is one of the most popular greens. Vegetarian comfort foods are on the rise with vegetable alternatives to pizza and pasta. Restaurants are turning experimental with replacing traditional plate set-ups with bowls and butcher to table. Insta food is a rage which is mostly dominated by the millennials. 

Here are few other trends that are gaining popularity around the world:

• Vegetarianism continues to be celebrated as a choice rather than a compulsion.

• Animal proteins and rich accompaniments will make way for vegetables. It was also mentioned in a survey done by Pintrest that the most searched word was veggies as compared to lasagna or pizza. The chances of vegetarian being the comfort food is more possible in the months to come. People now are opting for vegetable crust as compared to the original and are replacing pasta and rice with mashed cauliflower

• Another trend that’s becoming a fad is contrary to the previous trend mentioned is that of peoples love for “butcher – to – table”, mostly served in fine dine restaurants where the guest can be a witness to the entire preparation whether it’s a grill or a rare done steak to charcuterie.

• Breakfast gets a makeover at few hotels where the traditional breakfast gets replaced by more aggressive and crunchier items like fried chicken, stuffed Indian breads, spiced sandwiches and chimichurri. Popularly they are referred to as BRUNCHFAST.

• Greens…greens and more greens. Spinach and Kale was considered to be the powerhouse in this category. Chefs are considering alternatives to this, it’s now being replaced with equally healthy alternatives’ like beet greens, turnip greens, mustard greens and carrot tops. 

• Zero waste is what any food serving establishments focusses on. Restaurants are aiming to drastically reduce the waste.

• Food apps continue to dominate, where it gives options to users where to eat and what to eat.

• Indian grains will get a lot of mention on the food menu across restaurants and also kitchens would stress on un processed and preservative free food.

By: 

Ms. Bindu Menon

Sr. Faculty, INLEAD 

Emotional Intelligence in the Workplace

Dale Carnegie once said, that when dealing with people always remember you are dealing with creatures of emotion not creatures of logic. People are emotional. They have feelings and they respond to emotional stimuli.

Unfortunately, people have starting manipulating emotions for their own vested interests this has given a bad name to emotions. Emotions are meant to create positivity and synergy. Emotions are meant to create cooperation and inspire contribution.

Emotional intelligence includes:

1. Sensitivity

Humans have emotions. They are sensitive. We need to be sensitive to people’s emotions and create positivity. If you complement someone or say something positive the personal will remember it always. As someone rightly said people will forget what you said but they will never forget how you make them feel.

2. Responsiveness

We react. Response means having the freedom to choose from your emotions and actions. Many a times we get angry or enraged and that just shows that we are not in control of our thoughts and emotions. We need to take the reins of our mind in our own hands. Only then will we be able to respond and create a positive work environment.

3. Positivity

We should work towards creating a positive work environment. We can all contribute greatly towards spreading emotional wellness and positivity by giving complements, smiling, greeting, contributing and cooperating.

4. Emotional Deposits

Every time you say something nice to someone you create a deposit in the heart of the other person. If you make someone feel good he will always remember you. When you give complements people feel good and they will respond with positivity too.

5. A simple Smile

Smiling is simple but it is fantastic too. When you smile at someone you are sending the message that I accept you and I like you. You send the message that I am happy to see you. Smile and it will make all the difference.

We should use emotions to create positivity, cooperation and synergy. By using our emotional intelligence we will be able to succeed personally and professionally. We will become happy and content at the same time we will be able to contribute to our company’s growth and development.

By:

Siddharth Anand

Faculty, INLEAD