The oceans of our world, which make up a significant portion of our planet, are an example of the vast untapped potential resource. In the field of marketing, the vast potential for acquiring a higher customer base can be harnessed by following the Blue Ocean Strategy.
On 19th July Mr Manoj Nair, the vice president of holiday giant Thomas Cook’s marketing division, addressed the students of TAPMI on Thomas Cook’s place in the holiday segment and how to capture customers using the Blue Ocean Strategy.
Mr Nair commenced his lecture by mentioning Richard Branson’s spaceship travel. He went on to highlight the market opportunity in India using numbers on population, passports issued and overseas holidays along with qualitative information regarding the shift in values from traditional to modern.
He then explained certain aspects of the travel and holiday segment, which is very seasonal. He explained the major role which advertising plays in this sector. With the advent of technology, it has become easier for potential travelers to compare and contrast deals of various holiday packagers in a few clicks using Makemytrip, Yatra, Goibibo etc. Since every company in this space advertises extensively, he feels that the market is cluttered.
Extending the blue ocean strategy which involves both product differentiation and cost effectiveness simultaneously to this segment, Mr Nair proposed a one of a kind holiday plan involving a ‘one product for a destination’ concept. Niche segments such as photography and wildlife can add to the unique aspect. To pave way for the 30% household saving into this strategy, he suggested promoting savings with a holiday goal in mind, engaging with a banking partner and a hospitality partner. However, shades of red in the form of entry barriers pertaining to arrangements with third parties need to be overcome.
Ending on a positive note, he mentioned that going on a holiday now is much more economical than going on a holiday in the future.
TAPMI hosted Ms. Shambhavi Mishra, the Deputy Chief Manager from Brand Capital India as a part of the expert talk series. Ms. Shambhavi has worked with some of the big names in the industry like IBM Global Services, Mckinsey and Boston Analytics. Her experience in the companies mentioned includes significant contributions to strategy, client management and business development. In her interaction with the students of TAPMI, she expressed her passion for entrepreneurship. She spoke about the increasing relevance of technology in today’s world and the means of leveraging the same to make a sustainable business model. Her career path has seen a right mix of technical and functional roles. In many ways, this has been one of the biggest reasons for her firm belief in the power of technology and its ability to enhance an organization’s success in today’s fast paced world. Technology has become a must for the managers of today’s world, as it would help them explore opportunities that earlier seemed impossible. Ms Shambhavi also stressed on the fact that marketing concepts and frameworks are outdated primarily as the world is moving at a very fast pace. With changing demands of the business and new opportunities surfacing, the frameworks of the past are no longer relevant. Hence, she strongly advocated that businesses use digital marketing to improve their existing business models. Digital marketing ensures that organizations are able to provide higher levels of engagement to their customers, provide a greater reach in terms of the audience targeted in a highly cost-effective manner. Overall, the session was highly insightful to the students of TAPMI. Ms. Shambavi ensured that her interaction with the students was a fruitful one as they were able to fully appreciate the benefits of technology as an enabler for businesses.
As part of the ongoing expert talk series at TAPMI, the college once more opened its arms to another distinguished personality – Mr. Sunil Kashikar, VP Resource Management Group at Zensar Technolgies. Mr Sunil began his talk highlighting the various global human capital trends. He focused particularly on Survey 2015. Survey 2015 is among the largest longitudinal studies of talent, leadership and HR challenges. More than 3300 HRs from 106 countries participated in the survey this year. The survey focused on the ten major functions of a HR in a company such as leading, reinventing, engaging and reimagining. The top five human capital trends are leadership, learning & development, culture and engagement, reinventing HR and performance management.
The greatest challenge for the HRs of today is the low level of readiness as well as the preparation required to address these trends. Most Indian firms were of the opinion that leadership was the most important concern and action area for businesses in India. Companies are struggling to develop the right kind of leaders and are developing accelerated leadership models. Following leadership was then learning and development which was a significant area of concern. Increasing skill gap has made companies develop new approaches towards the same. In today’s world with a plethora of opportunities, it is imperative that organizations retain employees and help them embrace the culture of the organization. Hence it is necessary that employees are suitably engaged. Innovative performance solutions are tackling yet another concern namely performance management which is of immense importance in an organization. Performance management and talent acquisition remain challenges for the short term while learning and development still remains a long term challenge. He then went on to explain the increasing relevance of HRs in today’s world. Mr Sunil cited an example of an organization which sought business potential in Ghana. The HRs of the organization were instrumental in recruiting local talent to help realize the business potential. HRs are increasingly leveraging social media to help in recruitment. To conclude, he said HRs are no longer considered to be a problem to the business, they are increasingly providing means to facilitate better operation of the existing business.
Understanding Infrastructure Financing- a Guest Lecture Session by Mr Amit Vora, Director – Business Development, CRISIL Risk and Infrastructure Solutions Limited
The students of TAPMI had the privilege of listening to Mr Amit Vora, Director of Business Development at CRISIL Risk and Infrastructure Solutions Limited, speaking on the topic ‘Infrastructure financing in India’, with a focus on the public private partnership or PPP model.
The event took place on 18th July and commenced with the welcome address. After a brief introduction about himself and his career, Mr Vora began his talk by highlighting the importance of investment in infrastructure and discussing the evolution of the PPP model. He touched upon various other models from the 1700s till the present era. He mentioned that the objective of the PPP model is risk sharing.
Mr Vora also addressed the challenges of the PPP model such as suboptimal allocation of risk, environmental clearance and land acquisition. He then discussed the situations under which the PPP model would be most effective. He also discussed the monitoring of the model.
He then went on to the financial aspects of infrastructure. He highlighted the existing issues like the private sector’s greed for money, unforeseen risks and gaps in viability. He said that a huge investment in infrastructure is needed presently and that India as a country needs to act.
Mr Vora put banks and NBFCs (Non-banking financial institutions) as sources of funds for investment in infrastructure. The bond market, being the future, can also be seen as a sound source of financing. Pension funds are also a viable source of financing.
Mr Vora concluded by addressing the issue of ‘how to leverage the PPP approach’. He said that a judicious and systematic approach of balancing the government and private resources along with a change in the mindset is required to make this model a success for infrastructure development in India. This was followed by a question and answer session, after which the vote of thanks was delivered.
TAPMI gave the students a great learning opportunity by inviting Mr. Harish TR- Director-HR Adecco India, to talk about the future of HR Consultancies in India. He shared his experiences with the students in good detail which helped them understand the practicalities, technicalities as well as the opportunities galore in the world of consultancy. To begin with, he made it clear to the students that in the field of HR consultancy, one doesn’t just need HR skills alone but also selling and account management skills. This means that one needs to know how to bring in money to the organization.
Talking about the need that organizations feel about outsourcing HR, Mr Harish highlighted issues such as improved focus, access to world class resources, cost factor, risk sharing, difficulty in management, lack of resources within the organization etc. However it is also a fact that certain core jobs cannot be outsourced. He also talked about the ways in which HR is moving towards business partnering. Within consulting there are enormous opportunities for career growth. For an HR person, in any conventional organization, it is very difficult to attain positions such as that of a CEO, whereas in HR consulting firm it is very much possible.
While working in the consultancies, one must be clear about the priorities- Candidates, Clients and Delivery. He/she is also expected to be flexible and have patience. It is good to move jobs within functions, take tough jobs in the beginning of the career itself. This is because a person has high learning ability at that time. As one goes up, HR acumen comes down and business acumen goes up.
Mr Harish ensured that the session remained interactive and involved students in the discussion. He took up the questions that students asked towards the end of the discussion and answered each one of them patiently. There he also talked about the evolution of the customer engagement model in India and how it differs from the western countries.
The lecture was an enriching experience for the students which was not just informative but had the power to change the way most students thought.
CXO SERIES || MR SREENIVASA RAO YADAVILLI || MANAGING DIRECTOR INDIA || FUTURESTEP – A KORN FERRY COMPANY
In continuation of the CXO Leadership Series at TAPMI, Mr Sreenivasa Rao Yadavilli, Managing Director India at FutureStep, a Korn Ferry company, came down to campus to deliver a talk on the talent supply chain. The lecture was peppered with his own stories of the kind of career choices he made and how it shaped him. While heading the bottling acquisition phase of Coco Cola, He was someone who was known as the “Fixer”; as he was deemed to have the ability to solve every bureaucratic hurdle that came across their way. He also recounted the experience when Coco Cola had to deal with the fallout of the pesticide controversy.
He later joined Dell but soon was saturated by the work. He spoke on how and why after spending nearly 20 years in the production , sales and marketing aspect of a business, he chose to suddenly change his field and came into the world of talent management.
His guiding principle in human resources was to recruit talent with impact. He impressed on us how the talent supply chain is the most complicated and misplaced of all supply chains. Talent being the most important resource of any organization, he spend nearly 30% of his time and resources looking for it. He spoke on the evolution of the recruitment industry and how today it has reached a point where the IT industry alone has spent nearly 20 billion dollars in recruitment in the last 30 years. The talent acquisition industry is growing and is expected to reach 33.6 billion dollars by 2025. Some of the global trends shaping this industry are Big Data, Analytics and social media recruiting.
In the end he stressed the fact that where one ends up in life and in which filled is never truly set and one should carefully weigh their choices in life. He spoke that one has to be very selfish when it comes to career choices and that life will always give you second chances to change your path just as he did. His lecture was extremely inspiring and appealing for all the students present.
Mr Kiran Raju Penumacha, Founder & CEO, Grene Robotics was invited to TAPMI campus on July 16, 2015 to have an interactive session with the students of the institute. He was invited as a guest speaker for the highly regarded CXO Series in TAPMI. He is an alumnus of Manipal University which made students to instantly connect with him.
Mr Kiran began the session by giving a brief introduction about Grene Robotics, a Hyderabad based company, which is into building technologies that bring in diverse resources like people, machines and infrastructure on one platform. It creates decisively intuitive models that work into its rich portfolio of services. He discussed about the current situation of the healthcare industry and what the future beholds. He also talked about his other entrepreneurial ventures that before he started Grene Robotics.
His talk was mainly focussed towards giving insights to the budding managers of TAPMI by sharing his numerous experiences in the journey of becoming an entrepreneur. Therefore, in his presentation in the seminar hall, he spoke about “11 Things that they don’t teach about Entrepreneurship.”
It was an insightful session where he talked about being decisive and learning about the customer or a client, when selling your product/services. According to him, there is no such thing as ‘overnight success’ as anything you build requires hard work, patience and perseverance. He also follows the philosophy of “Fail fast and learn faster.”
While concluding his lecture, Mr Kiran said that the journey of execution of your ideas is the most significant aspect of making your business venture a success. He advised students to work hard, be determined and have positive thoughts about any business idea that they dream of converting in a successful venture. He concluded by saying, “Your thoughts create your reality.”