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- 2. WE TUBE WELCOME TO WE TUBE
- 3. DIRECT MARKETING BY ASHISH HATHI
- 4. ‘ DEFINATION According to the US Direct Marketing Association “ Direct Marketing is an interactive system of marketing which uses one or more advertising media to effect a measurable response and/or transaction at any location. INTRODUCTION Direct marketing is a very popular and widely used method of informing people about products and services. It's a method of contacting customers and potential customers directly, rather than having an indirect medium between the company and the consumer.
- 5. WHAT IS DIRECT MARKETING An unsolicited mail pushed on to prospects through any medium like mobile, email etc through a known database. DIFFERENCE BETWEEN MARKETING & DIRECT MARKETING MARKETING It involve one-way communication aimed at general customers. Eg: TV advertisement, Newspaper etc DIRECT MARKETING It involve two way or direct interaction with the customers. Eg: Emails,Mobile etc
- 6. FORMS OF DIRECT MARKETING Personal Selling Or Face to Face Selling Eg. of personal selling is found in department stores on the perfume and cosmetic counters. Telemarketing Eg. Promoting the products on phone. Direct mail Sending different of offers through mail Catalog Giving catalog to the customers where they can get information about products.
- 7. AUDITING AND ASSURANCE STANDARDS AN OVERVIEW BY PROF. LEON VERDES
- 8. By the audit process, the auditor enhances the usefulness and value of the financial statement, and also increases the credibility of other non-audited information released by management. The investors, bankers needs to invest in a company therefore the financial statement of those companies needs to analyzed The history of auditing standards goes way back to 1973 where the international federations of accountants in U.K has set up the various auditing standards . In India also the ICAI had setup the various standards and formed the auditing practices committee which not only was looking after the ethics of the profession but also setting up the standards from time to time OVERVIEW
- 9. Auditing standards serve as guidelines for and measures of the quality of the auditor’s performance . IAASB issues the international standards on Auditing (ISAs). ISAs are considered to be minimum standard of performance for auditors Interpretations, which clarify terms or concepts within the statements. ISA GROUPING 200-299 General principles and responsibility. 300-499 Risk assessment and response to assessed risks. 500-699 Using work of others. 7 700-799 Audit conclusion and reporting. AUDITING STANDARDS
- 10. AUDIT DOCUMENTATION AND WORKING PAPER Audit documentation is a principle records of the basis for the auditors conclusion and provides the principal support for the representation in the auditors report. Documentation means the material ie. working papers prepared by and for, or obtained & retained by the auditor in connection with the performance of the audit. Audit documentation include records on the planning and performance of the work, the procedures performed, evidence obtained and conclusion reached by the auditor.
- 11. AUDITING STANDARDSFRAUD TO BE CONSIDERED Intentional misappropriation of the financial statement or theft of the asset is called fraud. WHAT ARE THE REASON BEHIND FRAUD Incentive or pressure to get higher sale can be the reason for fraud. Opportunity to influence the sales people because of the position he or she has. Rationalisation means settleing the things after the things are under controlled.
- 12. BEHAVIOURAL EVENT INTERVIEW BY PROF. PRINCEY MEHTA
- 13. WHAT IS BEHAVIOURAL EVENT INTERVIEW Selecting right candidate at right time for right position . It is an interview technique used in most of the companies nowadays not only to gain an inner view within the candidates profile to know about its past experience, his qualification, his family background, but also more into it. ie: knowing from the candidate what he or she is capable to do not what he or she has done in past and whether he or she has displayed thier capabilities in the past.
- 14. BEI includes : Competancy- Based Selection Interviewing Techniques What is competency? Obeservable abilities, skills, knowldge, motivations or traits defined in terms of the behaviours needed for successful performance. It describes a pattern or cluster of action taken to acheive a desired and positive results. WHY TO USE BEI? The theory of Behaviour Event Interview is simple. It considers the best way for an organisation to predict an individuals future behaviours & performance, where the candidate talks about their competencies, behaviour & performance.
- 15. ADDTIONAL BENEFITS OF BEI The additional benefits that BEI'S provides are the opportunities for the department & interview panels to use a standardized assessment method to measure the responses & qualifications of their prospects. Employers need to hire the candidate who has the best skills for the job. Being measurable increasingly important as it provides consistent, quantifiable proof that the best candidate has been chosen and that the final decision is defendable. HOW TO CONDUCT A SUCCESSFUL BEI?? The interview panel should prepare a set of questions before conducting an interview. The objective of a Behavioral Event Interview (BEI) is to get very detailed behavioral descriptions of how a person goes about doing his or her work. The interviewer's job is to obtain complete stories that describe the interviewee's specific behaviors, thoughts, and actions in actual situations.
- 16. INTERNATIONAL TRADE BY PROF. BB BHATTACHARYA
- 17. WHAT IS INTERNATIONAL TRADE International trade is the exchange of capital, goods, and services across international borders or territories. It came into existence for 100 of years & consequence on liberalisation & cross borders a position of restrictions when trade is on rise. Every year the trade is rising on the range of around 5% to 6% These trade needs finance by various types of lenders.
- 18. INTERNATIONAL TRADE POLICY FRAMEWORK WTO (WORLD TRADE ORGANISATION): WTO came into existence in 1995 with rules of trade amongst the nations. Presence of TRADE BLOCKS: There are various trade blocks all over the world. These trade blocks are the group of countries which establised preferential trade agreement amongst the nations within the group. TRADE TRANSACTION CONSIST OF → Movement of goods. → Movement of documents. → Movement of funds.
- 19. RISK IN INTERNATIONAL TRADE FINANCE Country risk: If a country is not politically stable then the seller always runs the risk of not paying the cost of goods on time or it may be delayed or economic environment maybe be very adverse. Forex risks (Foreign exchange risk): These risk is faced by both sellers and buyers. The fluctuation & volatility of the currency is unpredictable as the currency changes its movement every seconds. VARIOUS WAYS OF PAYMENT Clean payment: There is an existence of trust between the seller and buyer. it can also mean advance payment. where there is no involvement of third party. Bills of exchange- Bills of collections against documents of collection.
- 20. DESIGN MARKETING BY PROF. SURUCHI YADAV
- 21. WHAT DO YOU MEAN BY DESIGN According to Chris Pullman- Design is not the narrow application of formal skills. It is a way of thinking There is a whole mindset of strategy and mindset and brain cell work which goes into this. It is a product of way of thinking that attracts people before introducing it to the people or customers
- 22. PRODUCT PACKAGING Aesthetics: An overall sense of design or sense of art how you will design the product. Colour: Colour aspect is very important aspect in designing a product. eg: Pink scooty may attract a girl. Emotional connect: Connectiong the people emotionally to the product eg: Purchasing baby product. Culture connect: Offering a product which is cultural connect. It is a huge matter of sentiments and emotions.
- 23. WHAT DOES A PRODUCT LEADS TO Good Design leads to curiosity of whats there inside. The Tilts towards buying versus not buying. Good Design creates a brand name.
- 25. JOURNEY OF MR. KOUSTUBH KANADE IN PHARMA INDUSTRY - Country head-South Asia at Panasonic Healthcare Hldgs- Ascensia - Senior executive with strong healthcare marketing experience across Asia, Russia & Africa in specialty pharmaceutical & OTC
- 26. The professional journey & Pharma industry: • The journey of Mr. Kanade has been about Learning,Abosorption,Reflection,Demonstration & Coaching. After completing his P.G from Welingkar, Mr. Kanade got opportunity to work with Raptakos Brett co. from there he learnt 3 things and that is -Think big and different - Importance of the customer -Importance of Networking and Relationship management
- 27. Being extrovert and his love for exploring the world, interacting people made him to enter marketing field. According to him the internal and external social fabric around India makes MBA hesitate to choose sales. Change and going after change or learning and demonstrating the value has helped him in his life. The expenditure and investment on health that the person is doing today. The life style disorder like diabetes, lack of exercise, unhealthy food or using supplements to lead a healthy life are the key growth factor in Pharma industry. Things that I have learned by watching his success video is that there are no shortcuts to success. You need to dream and then work harder to achieve those dreams. No matter what , you should never look back once you are on the way of achieving your dreams. HOW DID THE JOURNEY START
- 28. Mr. Nikhil Apte - Chief product officer in Royal Sundarbam Alliance Journey of Mr. Apte • He has pursued his PGDM in Marketing in 1995 to 1997 from We school. He has also pursued BE in electronics from VJTI. • He started working as an Asst. Manager in sales at Emerson Network Power , immediately after the course. • Today he is a seasoned sales and marketing professional, with over 20 years experience. • He comes with multifunctional experience covering a wide spectrum of management function and industries.
- 29. PAST EXPERIENCE: Senior Vice President & Head - Products Max Bupa Head - Health Insurance and Individual Personal Accident Tata AIG Gernal Area Marketing Manager ICICI Banks Home Loans - To be a good product manager you need to go through sales. - Focus in your theory for better understanding is his mantra. - His biggest learning is the more you make your hands dirty and be grounded. Flash backs in the days of welingkar He lived in the hostel situated in Sion. For him small things mattered a lot. He found space constraints because he found its difficult for personal interactions, group discussion etc.
- 30. He was nominated Black Belt in Product Management - successfully completed a Project on "Cycle Time Reduction in New Product Launches". Received training in Netherlands, Belgium, Thailand. Things that I have learned from his story is that- Follow your passion don't let your family or friends or teachers to influence your decision.
- 31. JOURNEY OF Ms. KAINAZ TUREL. • Completed her PGDM in 2003 in Marketing & Retai& l from we school. • Started off as an Asst. Manager In Pantaloons Retail India Ltd., Sales. • Today she is a manager- Promotion, Planning & Execution Excellence at Big bazaar. • A well rounded consumer retail professional with 11+ years of progressive track record in bringing in consumer thinking in Retail Operation Product buying and merchandising management as well as promotion planning.
- 32. Professional journey in Retail Industry Her journey has started by lots of learning, hardwork,excitement of doing something new. Mba is just a start in Retail World. Dr Pragya Ram was her mentor when she started working in pantaloons. One month before her placement session, she went to Dr Swapna Pradhan and said that she wants to be in Retail and asked to groom her. The culture and tradition of Pantaloon India made her to work in that company. After two months in marketing she was shifted in big bazaar in kids section and was told her to prove herself. She worked for 2 years in store operation. After 2 years being in big bazaar she became a Category Manager.
- 33. PROMOTION PLANNING AND THEIR EXECUTIONS. • Promotion is nothing but simply trying to offer something to the consumer that he or she is willing to pay for the new experience. Pros and Cons in working in Retail Pros is close to the consumer Cons is there is mental and tremendeous hardwork. Things that this story has thought me is that you should always have learning quality in you. Never try to say that I know everything. You should learn from your senior and your juniors as well.
- 34. NEWSWIRENEWSWIRE
- 35. Specialisation- Human Resource Industry - Personnel/HR Subject- DNA TESTING FOR JOBS MAY BE ON ITS WAY, WARNS GARTNER MESSAGE DNA TESTING FOR JOBS MAY BE ON ITS WAY, WARNS GARTNER There may be a future where genetics informs hiring and promotions ORLANDO, Fla. -- It is illegal today to use DNA testing for employment, but as science advances its understanding of genes that correlate to certain desirable traits -- such as leadership and intelligence -- business may want this information. People seeking leadership roles in business, or even those in search of funding for a start-up, may volunteer their DNA test results to demonstrate that they have the right aptitude, leadership capabilities and intelligence for the job. This may sound farfetched, but it's possible based on the direction of the science, according to Gartner analysts David Furlonger and Stephen Smith, who presented their research at the firm's Symposium IT/xpo here. This research is called “Maverick" in Gartner parlance, meaning it has a somewhat low probability and is still years out, but its potential is nonetheless worrisome to the authors. It isn't as radical as it seems. Job selection on the basis of certain desirable genetic characteristics is already common in the military and sports. The average athlete in the National Football League, for instance, is 6'2" in height and nearly 247 pounds, versus the average man at 5'9" and 182 pounds.
- 36. Science has demonstrated a linkage between genes and IQ in twins, and new research has identified genes linked to leadership. One firm, BGI in China, is working to identify human intelligence. Genetic testing to glean personal insights is also mainstream. People are interested in what genetic testing reveals about their health and ancestry. Science is certain to unlock more information from these genetic tests as time goes on. If businesses come to believe that some employees are born predisposed to leadership, they may be interested in identifying people early in their careers who have the genes that may help them become the next great CEO, CIO or CFO. But one thing businesses can't do is to ask for a blood test. The Genetic Information Non-discrimination Act of 2008 prohibits employers from collecting this information. The law was motivated, in part, by concern that employers will use genetic test information to screen out job applicants who may be at risk for certain types of illnesses. A blood test may be unnecessary. Businesses, using this understanding about how some characteristics are genetically determined, may develop new interview methodologies and testing to help identify candidates predisposed to the traits they desire, such as leadership. Now that scientists know some characteristics are genetically driven, "we can move with a little more confidence and start modelling out what we think it might look like in ways that don't break the law," Smith said. It's also possible that people may voluntarily turn over DNA to demonstrate that they have the key markers to succeed, said Furlonger. A CEO candidate, for instance, may give up his or her DNA in a job hunt, prompting others to act similarly. "We should be cautious about this," said Smith. - computer world
- 37. Specialisation: Common Industry - Management Subject- HOW TO IDENTIFY WHO YOU ARE AS A LEADER Message HOW TO IDENTIFY WHO YOU ARE AS A LEADER Who are you as a leader? Most people are polite. When we talk about ourselves in our job search, often the listener is politely nodding but really they are thinking “So what?” or “I have no idea what you are trying to say to me.” We walk away thinking we knocked it out of the park and we continue to delude ourselves. Every month, I facilitate a “power networking” group for Executives in Transition. Not surprisingly, these executives are faced with an intense and highly competitive marketplace that includes larger pools of competing candidates, sparse opportunities, and a talent buyer’s market. I am not sure if its ego or laziness, but time after time, these leaders poorly communicate what they want or need. The most important thing any job seeker, especially a leader, can do to help themselves in the process is take the time to really understand what makes them unique. So often, job candidates don’t have a good grasp on the “Why should we hire you over someone else?” question. In every meeting, we attempt to get the attendees to hone in on exactly that subject. We are almost always met with a boring diatribe that leaves the listener saying “so what?” HR leaders love to say that what makes them unique is that they like to be out among the workers.
- 38. So? How does that help a company? IT leaders love to say that they understand technology AND business. I have yet to meet a CIO who doesn’t say that. If everyone is saying that, you are not unique. So how do you figure out what makes you different? One of the quickest ways to identify who you are as a leader is to think about 3-5 stories in which you were successful in past positions. Lay them out (on paper) and identify clearly the Challenge you were faced with, the Action that you took, and the Result. We refer to this as the CAR exercise. Frankly, this is a vital step that will help you throughout the job search process. If you clearly understand the value that you can bring to a prospective employer, you will be able to network better, brand yourself better, interview better, and assess your own needs better. Once you do have a handle on what you bring to the table, whittle that down to two or three sentences. A great structure to what you should say is to identify your desired role and then to state what pains you can solve for that employer. It is vital that you be clear and succinct when you are communicating your value statement. I am a firm believer that your 30 second commercial is too long. Know yourself well and state it clearly. A great acronym that we use is the WAIT principle. Why Am I Talking? Another great exercise is to draw a timeline and list out the jobs that you have held. Above the timeline, note what you liked about that role. Below the timeline, note what you disliked about that role. This will help you get a handle on the type of roles you are willing to undertake as well as those you are not. Leaders must be clear on their unique leadership contributions and the types of organizations that respond to it. It’s human nature for any job seeker to take their best strengths for granted and overlook successes. Career transition requires that they take responsibility for re-messaging their core skills to connect to the bona fide and compelling value being offered to the buying audience. Do you have a clear grasp on your value proposition? If not, what is stopping you? I would love to hear your thoughts. CAREEREALISM
- 39. Specialisation : Common Industry : Management Message JOB SEARCH TACTICS THAT WORK Having a diploma can only get you so far in today's world. In today’s business world, a college degree does not automatically lead to a great job the way it typically did in the past. Today, in addition to that college degree, one has to learn how to find a job and be good at it. This additional challenge represents a significant barrier to some job seekers and especially to more mature people who have a hard time keeping up with fast-developing technology that requires new skills. So, the following are a few tips regarding both what to do and how to do it. Online and in-person networking Beyond LinkedIn, recruiters use Twitter, Facebook and other social media to find, select and qualify talent. Those new tools -- which 10 years ago were either nonexistent or in their infancy stage -- are absolutely essential for today’s job seekers to be familiar with. A job seeker who does not show up on recruiters’ screens is simply ignored. This is a huge punishment for those who need a job. To be found and deemed qualified, candidates must learn how to use social media -- and then use it extensively -- beyond the three mentioned here. Social media are not only the venues for finding jobs but also tools that establish a positive reputation and credibility. Just remember that there are many, many applicants for just a few openings.
- 40. Tools for job seekers Because technology has changed the job search system for both employers and job seekers, the latter group needs to quickly catch up. Employers use technology to source for talent. The majority of medium-size companies use some type of recruiting management system. Companies were forced into using such systems so they could become able to deal with larger and larger volumes of applicants, so they could save money, and so they could speed up the process. Most of the different kinds of applicant-tracking systems (ATSs) have become web-based, which extends access to the system by anyone in the organization who’s involved with the hiring process. This means that job seekers need to appeal to those people in the organization and not exclusively to human resources as in the past. Regardless of which system recruiters use, job seekers need to improve their ranking in order to be found. Think about a Google search. Here are a few tips for improving ranking: o Use TagCrowd.com to visually match your résumé and the job description. o Match your résumé to the keywords used in the job description. o Use Microsoft Word to format your résumé, and avoid textboxes, tables and graphics. o Under the heading "Professional Experience," list first the name of the company where you most recently worked; then, to the right of that, the dates of your tenure there; and then under the company name, the name of the position you held. Add a line or two of responsibilities or job duties, and then a bulleted list of a few specific and preferably quantifiable accomplishments. Then do the same for the job previous to that one. The new ATSs incorporate social media tool functionality to reach passive candidates, to advertise job opportunities and to build talent communities for specific industries. Therefore, to generate multiple options for themselves, job seekers must at all times deploy diverse approaches to job seeking. Candidates need to learn how various ATSs work in order to get high enough scores to be found by a particular company’s system. A description of familiarizing oneself with the systems is vaster than can be accomplished here and will be the topic of one of my future articles. - ENTREPRENEUR INDIA
- 41. Specialisation: Common Industry: Management Subject: TIMESJOBS REVEALS WHAT EMPLOYERS LOOK FOR IN A CV Most employers prefer a two-page CV with no grammatical or spelling mistakes, while a CV with no specific details related to the job applied for gets a quick rejection, reveals the Times Jobs study. A CV is the very first point of contact between a job-seeker and an employer – and making this first impression a good one is critical in getting ahead in one's career. Times Jobs conducted a study to reveal the elements a CV must (& must not) have to be able to grab the employer’s attention and get shortlisted for an interview. In a study of over 1,100 employers, Times Jobs highlights the most crucial elements that matter to recruiters when short listing a CV. Most employers prefer a two-page CV with no grammatical or spelling mistakes, while a CV with no specific details related to the job applied for gets a quick rejection, reveals the Times Jobs study. “You CV should be looked at as your elevator pitch – it is that small window of opportunity that you have to get the employer interested enough to call you for a detailed discussion. It is a good practice to get an outside expert's help to highlight what you do best. As they can identify your areas of excellence, that you may not have identified yourself, and which could be crucial in turning things to your advantage.” says Nilanjan Roy, Head of Strategy, Times Business Solutions. 1. Don't Make Spelling Mistakes According to the majority (55%) of employers surveyed, avoiding grammatical errors and spelling mistakes are essential in making a decent first impression, and these mistakes are also the first thing that recruiters notice in a CV. Secondly, almost half of the employers feel a CV should reflect the candidate's competencies and skills in performing the functions that the job requires. As 46% employers say a CV which doesn’t have details specific to the job role a candidate has applied for is the biggest let down for the recruiter.
- 42. 2. Highlight what Matters to the Job Secondly, almost half of the employers feel a CV should reflect the candidate's competencies and skills in performing the functions that the job requires. As 46% employers say a CV which doesn’t have details specific to the job role a candidate has applied for is the biggest let down for the recruiter. 3. Not More Than 2 Pages In addition, recruiters are simply not interested in a CV that is longer than two pages. Nearly 43% say the length of CV matters the most. Almost 80% employers find a two-page to be the ideal length and 20% even preferred a single-page CV. 4. Format for Clarity Over 35% also give extra points to the readability aspects of a CV. Bad formatting such as abrupt paragraph breaks, overuse/underuse of bolds and italics and too many fonts are other annoying elements in a CV, state 33% surveyed recruiters. 5. Look Professional Nearly 27% recruiters advise against using unprofessional e-mail ids in a CV. According to 35% recruiters more than a quarter of the CVs they scan in a month have unprofessional/absurd email-ids. While 12% recruiters are irked to see a CV with a photograph of the applicant. 6. Drop The Cover Letter Further, the TimesJobs study uncovered another interesting fact, that a cover letter is not essential to employers. Only 10% of the surveyed recruiters state that a covering letter is important. Almost 72% employers say that while a covering letter adds value it is not an important document. While 18% recruiters state that a cover letter holds no significance at all.
- 43. Specialisation: Common Industry : Management Subject 3 WAYS TO GET LINKEDIN ENDORSEMENTS Message: LinkedIn is the online platform for all things that relate to your professional brand, and you want to use it to your best advantage to the fullest extent that you can. You need to have your profile completed. Each section that is pertinent to you should be optimized. One easy and fairly straightforward way to add credibility to your profile is to get LinkedIn endorsements for skills you have developed and honed over the course of your work history. There are several ways to do that, and I am going to mention three in particular, but before I get into the ways to receive endorsements, I would like to offer a caveat about how you choose the skills for which you want to be endorsed. LinkedIn offers you an opportunity to select from a multitude of skills and to choose up to 50 individual skills for which to be endorsed. It is far too easy to fall into the trap of selecting too many skills or picking skills in which you may have some limited proficiency. I want to offer a bit of advice here and suggest that you be selective (and a little restrained) when choosing which skills you want to be recognized for having. Realistically, you probably don’t need more than 20 discrete skills in your profile, and they should be clearly differentiated from one another. Be honest with yourself, and don’t select skills that are not in alignment with jobs you have had in the past. Don’t feel pressured to have 50 skills selected just because you can. Select those skills that you have and that you have demonstrated over the course of your career(s) or job(s) so that people who have worked with you or who know you relatively well can endorse you with a clear conscience. With that note of caution out of the way, let me offer that I think there are three easy and relatively painless ways to add endorsements to your LinkedIn profile.
- 44. 1. Ask For Them. If you are just starting your LinkedIn profile, and you want to build its credibility sooner rather than later, there is nothing wrong with you contacting people with whom you have worked and asking them for endorsements in skills you have listed on your profile. Most people who are using LinkedIn on a regular basis will be willing to endorse other individuals. 2. Offer Endorsements For Others. The Law of Reciprocity dictates that as you offer other people endorsements, they will feel more inclined to return the favor. Again, don’t endorse people for skills you don’t know they have, but if you can offer an endorsement for someone, they will be far more inclined to return the favor. 3. Don’t Confuse Endorsements With Recommendations. When you offer an Endorsement, you are only offering a check-in-the-box acknowledgment that says, “I know So- and-So and I know she can lead a workshop.” You check “Workshop Facilitation,” and move on. A Recommendation is when you write a comment or a review for someone. Example: “I attended a workshop that So-and-So conducted, and she was fantastic! She organized the day around what the participants needed, she paced the program so that it wasn’t too fast nor was it too slow, and she gave us plenty of time for small group and large group engagement and interaction. I would highly recommend her for anyone who wants a high-quality workshop.” Do you see the difference? A Recommendation is a much higher quality reference than an Endorsement. Don’t confuse the two if you are requesting one or the other from an individual you have worked with or from a former employer or supervisor. You will make the recipient of the request feel awkward if you ask for a Recommendation as opposed to an Endorsement. If you are looking for a Recommendation instead of an Endorsement, request the Recommendation in person and determine that they feel comfortable offering the Recommendation before you send them the formal request. I have read articles on the topic of Endorsements where the authors have confused the two terms, so I offer this caution to make sure you don’t make the same mistake. LinkedIn is an important component of any professional’s online brand. You need to build your own LinkedIn profile carefully and deliberately .Professionally will feel comfortable offering endorsements for. As you build your endorsements, you build your professional credibility. - WORK IT DAILY
- 46. Specialisation: Innovation Industry : Management Message: COMMUNICATION IS KEY FOR INNOVATION IMPLEMENTATION AND BUSINESS SUCCESS The innovation book Robert’s Rules of Innovation: A 10-Step Program for Corporate Survival hammers the point home that innovation is the key to your company’s survival—in other words, “innovate or die.” The recently published Robert’s Rules of Innovation II: The Art of Implementation teaches readers how to implement an organized work culture of innovation in their organization. This process is critical to innovation in business success as mastery of the art of implementation is necessary to ensure that your innovation process and program clicks on all cylinders, all the time. Sure, having a brilliant idea for a new product or service coupled with the top talent and resources may give you a rocket-propelled push at the starting line for the innovation process. However, unless your organization has a culture of innovation in place, progress on the innovation front will most likely be stymied. Think of a culture of innovation as the rocket fuel that drives innovation implementation forward. Keeping with the same analogy, remember that when a rocket runs out of fuel, there is no more thrust force and with gravity still acting on the rocket it will fall back to earth. To create a culture of innovation ripe for propelling the innovation process and program, clear and consistent communication is key. The following is a high-level summary of the communication strategies and tips discussed in Robert’s Rules of Innovation and Robert’s Rules of Innovation II: · Formally establish multiple communication channels reaching across the business. When it comes to changing your corporate culture to make it more accommodating for innovation, you will want to plan a cohesive and consistent communication strategy. To reach the widest audience and create variety, use multiple communication channels. For example, consider using channels including but not limited to: newsletter (digital and/or paper copy), corporate magazine, email campaigns, CEO webcasts or podcasts, and visual signs such as a notice board posted in the office’s high traffic and common space areas.
- 47. Specialisation: Innovation Industry : Management Message: INNOVATION MANAGEMENT IN EMERGING MARKETS When it comes to innovation management, I see a growing number of companies in emerging countries like Turkey, Mexico and Brazil doing a better job than their counterparts in developed (primarily Western) countries. There are many reasons for this and here you get some of my observations. The growth mindset I have had many interactions with companies in emerging markets and they seem to be more driven and more willing to invest in the capabilities (such as corporate innovation) needed to keep growing. In all fairness, it should be noted that Western companies in general have a higher starting point and thus they don’t have the same need to catch up as you have in many companies in the emerging markets. But the thing to have in mind is that if you slow down or stop moving at all today, you will be in trouble sooner or later. Keeping the momentum is critical. A different understanding of and experience with innovation management When you don’t have a 30-year legacy or history with innovation management, you most likely do things differently than what you see at the more mature “innovation-driven” companies. The good thing is that when you know what you do not know, it becomes easier to accept that you need to learn and work with others to get better. You often also have an organization that is more curious and more willing to learn and try out new approaches.
- 48. The top down leadership approach When you have a patriarch-like figure in charge of your company, decisions can be taken quickly and swiftly. If this patriarch decides that the company needs to get stronger on innovation, everyone in the organization better buy into this fast. You don’t make it more complex than it has to be and you experiment your way forward to get the customers onboard. Stronger home markets with faster action Many emerging markets are significant growth markets. If you have strong home markets, you can better afford to expand your activities at home and maybe also internationally. About the author Stefan Lindegaard is a Copenhagen-based author, speaker and strategic advisor. His focus on corporate transformation and innovation management based on leadership, the work force and organizational structures has propelled him into being a trusted source of inspiration to many large corporations, government organizations and smaller companies. He believes business today requires an open and global perspective and he has given talks and worked with companies in Europe, North America, South America, the Middle East, Africa and Asia. In his role as a strategic advisor and coach, Stefan Lindegaard provides external perspectives and practical advice for executives and corporate transformation and innovation teams. He is a widely respected writer and he has written several books including The Open Innovation Revolution published globally. You can follow his work on LinkedIn Pulse.) - INNOVATION MNGT
- 49. Specialisation :Human Resource Industry :Personnel/HR Subject : MANAGING CULTURAL DIVERSITY AT WORK Traditional companies commonly hire employees according to their unique culture and perhaps are more rejective to disrupt the current culture they have in place while the more westernised companies welcome the cultural differences and see it as an open opportunity to learn something new. But as we progress into the innovative era, companies are getting more and more receptive to introducing a multicultural workplace. Therefore, with a multicultural environment comes the impending challenge for HR persons in managing the various cultural diversity while balancing the harmony and settling the disputes that could happen. It is indeed a challenge for both the HR and the management to employ effective strategies that are suitable overall as the employees come from different cultural backgrounds and countries. Cultural diversity can cause a serious hitch in the development of solid teamwork. It is tough to unite a team with different cultures, and even harder to bring together the entire company to work efficiently together, especially for departments that need the support of each other to perform at its best. Also, the challenges in terms of the language differences, beliefs and working styles might appear. HR persons then play a key role in managing this culturally diversified group, including giving them the needed support so that they will be able to work together without discriminating any differences amongst employees. There are many ways to manage, and the following are the basic strategies for a good start in building up the team effort to bring everyone together as a team. Understanding Cultural Differences It is important to know the dimensions of your the employees’ cultural diversity at the company, including perception of time, distance, communication patterns, hierarchy, and more. It is also necessary to educate the HR department and the management team relating to the issues that may arise to optimise the performance of the employees and minimise the adverse consequences that cultural differences bring about.
- 50. Introducing Free Speech With the different backgrounds of employees, it is also a nice gesture to celebrate important holidays of each other’s country. Such events can be done in simplicity, but such simple gestures bring about much more benefits. When employees feel accepted and secured regardless the cultural differences they have from each other, their morale and engagement could increase significantly thereby enhancing the capability of each and everyone to perform optimally. Practising Effective Communication Conflicts arise when misunderstandings occur. For locals, their communication style might be different but as locals, they still do understand the word forms or abbreviations used. For foreigners, they can have an entirely different style. Employees need to learn more in-depth about each other and to communicate in a more casual way other than just on work stuff so that they will learn about the style of speaking of each other. It is important to build a good working relationship but even more important to bond together as a team. In this way, when one knows the other’s style, work can be more efficiently communicated without misunderstandings arising. Working Calendars Managing a culturally diversified team is much easier when the management integrates the national holidays and important celebrations in their working calendar. By doing this, other than it reminds employees how the company values them, it also allows employees to manage and prioritise their work tasks efficiently. for example, giving an off-day for all national holidays, then this gives more reason to ensure all employees know in advance on the dates of the national holidays, etc. Offering additional perks to the employees is to enhance their productivity and enthusiasm towards their individual roles other than inducing the feeling of acceptance and security of the employee. In conclusion, having success in employees’ management will bring about many fruitful results, especially in productivity, morale and engagement. Therefore, HR persons in collaboration with employers should devise strategies to create and encourage a cohesive working environment. - HRM Asia
- 51. Specialisation: Human Resource Industry Personnel/HR Subject HOW GOOGLE KEEPS EMPLOYEES HAPPY Google, is globally stressing on employee freedom so that it can compete with talent from start-ups. A few years ago, a group of engineers at its India office wanted to improve Google's mapping data and they came up with the idea that anyone who had an Internet connection could contribute to making the maps better. Today, Google, is globally stressing on employee freedom so that it can compete with talent from start-ups. Google's Stacy Savides Sullivan, who is the company's chief culture officer, spoke to ET about how the company stays away from the “conventional“, and wants to give freedom to its employees so that they are a happier ,and this eventually helps the company retain its employees. “We aren't perfect and have our challenges. What has made it hard for us to hire today though, is, that a lot of people want to work in smaller companies and that's something we've been trying to do in the way we've organized our product groups. Our other tech companies within the parent company Alphabet Inc. are being used to create entrepreneurial environments and employees can feel like they are contributing in a more impactful way,“ said Sullivan. The company has, however, noticed that it is getting more people from start-ups rather than losing them to start- ups. Keeping people on and being genuine with them is the next step for retention since an employee who feels safe will spark innovation, she said.
- 53. Specialisation : Common Industry Management Subject FACEBOOK COPIES FROM SNAPCHAT AGAIN? THIS TIME IT'S A CAMERA FEATURE Message: The photo or video will only remain visible so long as you and your friend talk about it Facebook seems to be in no mood to back off from imitating Snapchat. The social networking site has built a new camera with a selfie mask, geofilters, animated photos, and overlaid graphics. The camera icon is placed on the upper left-hand corner of the Facebook app and looks and feels a lot like Snapchat. The new camera is currently being tested in Ireland. The Verge reported that the photo or video will only remain visible as long as you and your friend talk about it and would disappear if you fail to start a conversation in the first 24 hours after it’s sent. This is again an attractive option Snapchat offers to its users.