Vijayapura ( formally Bijapur) Womens University Commerce & Management teachers Association - My workshop on 'Best Practices in Higher Education - Role of Commerce and Management Teachers

Some pictures from the event and my Presentation. The whole talk hopefully sometime soon!

Hon'ble Vice Chancellor inaugurated the workshop

Over dressed?

Native honouring ceremony with Shawl, a bowl of fruits and flowers....Many thanks to the Organisers!

Best Practices in Higher Education - Role of Commerce & Management Teachers from Surana College, Centre for Post Graduate Studies

My talk at MSRIM Conference - Start-up India, Stand up India - Role of B-Schools 27th of May 2016

Good Afternoon ladies and Gentlemen!

I am greatful to MSRIM, especially Dr.Muralidharan and Prof.Jayashree for having me here today. It gives me the opportunity to catch up with many old friends.

          When I saw the topic given to me, Business models, Technology & Marketing, my first thought was that Dr.Muralidharan made a list of subjects to be covered and after assigning the topics, put all the left over topics into one and gave that to me.

           That is not at all true. The two very important components of business model are technology and marketing, apart from the financials which is what everyone talks about with regard to start ups.

Let me by telling you three stories. All true stories.

Story-1

J.C.Fargo who was the president of American Express was on European holiday in 1892.He had a very difficult time converting the letters of credit that he carried into cash. He went back to the US thinking that if the president of American Express was having this trouble, what about the common traveler. American express then created the travelers cheques.

          In the year 2000, American express issued cheques worth USD 24.6 Million. In recent years the debit card/Credit card and multi currency cards have replaced these cheques and business has dispersed to many commercial banks thanks to Visa & Master card.

Story – 2

How many of you have heard of Vayloo technologies. This is a Bangalore based start up that belongs to Piyush Bansal. Recently Lenskart received another 130 crores rupees investment and their annual turnover has reached 100crores.

          The story I want to tell you is not about Lenskart. Vayloo technologies had conceptualized and started Bagskart , Watchkart and Jewelskart also. However no one has heard of them and Vayloo has shut down there three businesses.

          There are many startup’s that fail for a range of reasons. Today most of the ‘food delivery’ sites are closing down because they did not visualize that they have very little control on the restaurant or housewife who is cooking to supply.

(Dazo/Tiny owl, Zomato.)

Story – 3

Chandubhai Virani was selling potato chips near a cinema theatre in Rajkot Gujarat and also working in the Theatre Canteen. He started with one frying pan.  Balaji wafers today, has 65% market share in 5 states where it is sold and is a 1000 crore company.

          Chandubhai had earlier failed in two businesses in one his suppliers sold him fake fertilizers and in another he could not run a college canteen successfully.

Business models are very much about stories, stories about how enterprises work. Joan Magretta as far back as 2002 in a HBR article says “A good business model begins with an insight into human motivations and ends in a rich stream of profits.”

We have all learnt about identifying customer wants/needs and making a profit by satisfying them.A business model helps us to focus attention on how the various elements of the system fit into a working whole.

There are many business models classified as pipe and platform business models. The essential thing to remember is that we need to have clarity on how the business will actually make money.

Technology enables new products & services .

Technology is a choice in a start up and in a business model.

What level and type of technology to use to solve the problem?

Whether you want hand held order taker in your restaurant or just a writing pad is a choice. Using WhatApp to chat with your friend when the lecture is going on is good use of technology,   using it to chat with a roommate within the hostel room is unnecessary and wasteful use of technology.

In a start-up converting a technological innovation into a profitable product is a critical area. When Xerox launched its copier it was very expensive compared to the earlier wet copiers. To make economic value of this technology innovation, Xerox introduced a new business model, they leased the equipment which calls for very low down payment. This led to the success – 41% compounded annual growth (CAG) FOR 12yrs.

Like travellers cheques gave way to credit & debit cards, newer technology replacing the old is an everyday occurrence. Kodak is classic example of being washed away due to technological advancements and not accepting new realities quickly. Keeping track and adapting new technologies to offer value to customers is another important area. I love the Indian railway for launching internet booking long ago and it now sells 2 lakh tickets each day providing a great value preposition.

Technology and marketing are very much interconnected. Just a few years ago the buzz word was ‘technology marketing’ which relates to selling hi technology products and services. The book ‘Crossing the Chasm’ by Geoffrey Moore was very popular. Today the buzz word is ‘marketing technology‘which is about technology tools available for marketing especially digital marketing.

 Marketing is required to give life to technology innovations

          While the essential philosophy of marketing is still very relevant, there are three major changes in the world. First is the speed . Everything is much faster, so responsiveness needs to be instantaneous. Second, with the world becoming smaller, the need for marketing professionals to understand many cultures and tailor marketing programs to culture is increasingly important. Third, is the digital transformation that is happening all around us. Everything is now becoming digital.

I am sure many of the students have been exposed to the business model canvas. Many of the components need a good understanding of marketing concepts. Customer segments, value preposition, customer relationships, and channels are the core of every business model.

The opportunities for marketing to the bottom of the pyramid are immense and right from understanding customer needs, developing relevant lean products, to selling such products to this market is the need of the day.

Differentiation and positioning are becoming a challenge. Marketing needs a lot of pertinent creativity to understand customers and put out something that offers significant value to them and bring home a profit.

The sense I am getting is that behind every successful business, apart from a lovely lady, there are many failures. Business graduates must build the confidence to fail.

In my Opinion, Technology management especially using technology as a component of a business model, and how technology can add economic value that is useful to customers, marketing to the bottom of the pyramid and the stories of business models should be part of the curriculum of business schools.

Thank you

Khova Bun @ G.Pulla Reddy.....only in Kurnool!

Every town has its specialty and for me Kurnool is home to the not so popular Bun & Khova available only in the Kurnool outlets of G.Pulla Reddy. The first time I had it was 50 years ago...it is a long time for an item to continue on the menu!

Remember going to this shop with my dad who first introduced me to this delightful sweet snack. Numerous road trips between Hyderabad and Bangalore over the decades with my parents and the trips for 'van sales' with my grand uncle have given me many opportunities to visit Kurnool.

Every time I pass through this town, having Khova Bun has been a necessary ritual over so many decades. Recently I recommended this item to someone and he and his team called back to say it was super!

One important and interesting fact I learnt from Mr Wonderful- Raghava Reddy who like father became president of the Vishwa Hindu Parishad is that the traditional sweet makers are big sponsors of the VHP. The reason could be their fear that business will crash if Indians do not exchange sweets for the many festivals and shift to some western items! Business sense that keeps tradition and culture alive....interesting area for research!

Enjoy the Bun and Khova if you can....it is worth it!

Rural Tourism - Warmth to the soul and what Joy!

On a recent  visit to Shani Shangnapur, near Sonai  enjoyed a crisp glass of fresh sugarcane juice.


https://goo.gl/maps/fPnQbaeT6Ns

We discuss atmospherics in retailing and generally limit ourselves to enclosed stores. The atmospherics created by these sugar-cane juice vendors is so simple yet powerful enough to transport you back to a typical Indian village instantly. The song, the cow, the swing, the large roadside tree so many elements to create a rustic atmosphere.

With greater westernization of our lives and the rural  Samskara most Indians are born with, the opportunity to provide Joy for the soul, with, rural tourism is really huge as it provides a contrast that is, yet connected to the deepest in us. ( Connected Contrast? :) )

Small operators based in villages will benefit and grow. I wish this sector is recognized and encouraged for it is sustainable, green, positive to health, and as of now great value!

Do write in with your views and more examples of rural tourism in India

Deccani Naan - A great example of simple being super good!

Being a vegetarian, have always savoured irani chai with Osmania busicuits, biryani, mirchi ka salan, tomatar kutt, bagara baingan, ashrafi, kubani ka meeta, double ka meeta and its stupid cousin shahi tukda  in Hyderabad and after so many years got an opportunity to try the Deccani Naan which is the simple and super bread of Hyderabad. Hyderabad cuisine is an amalgam of Turkish,Arabian, Mogul, DumPukt, Telangana, and  Maratha cuisines,  Hyderabadi cuisine offers a great variety that consists of all kinds of items ranging from the very subtle to the very spicy.

Deccani Naan is reportedly borrowed from Turkish cuisine, simple ingredients put through a tandoor like oven which is probably the secret of its fresh, soft, irresistible taste. At Rs.12/- a piece it is a must have when visiting Hyderabad.

Cache in a Calamity - lucre during the Chennai floods

Politicians using the calamity to increase popularity and thereby get votes is one kind of business, and there are many others types of commercial loot using a calamity as an opportunity for some quick and big bucks. Amma got all relief supplies stickered with her photo at every entry point to the city ensuring that all credit went to her for all the material sent by good Samaritans from neighbouring states.

A lot of material was confiscated on the highway before Chennai, not allowing material to go to the interior villages. This is called more aid to those who have already received plenty of aid. One engineering college on the Bangalore highway has collected plenty of rice and water bottles in this way. I think armed highway robbery like it happens in the Chambal valley is far better than this!

A bottle of water for Rs.100/- , a litre of milk for Rs.100/- , vegetables at Rs.100/- a Kg are some prices during the floods. black marketing, hoarding, and profiteering was the first quick money scheme.

Kits issued to people are purchased back for say Rs.20/- . Many times the kit might have cost the donor Rs.100-150 and it is recycled by paying the recipient a small sum of money, which is enough because he/she has already got the essentials.

There is still opportunity aplenty starting with using the PM's largesse, to billing for construction of new dwellings for snatching what was due to the poor family distressed and displaced by the floods.

Greed in a calamity, what a curse! The selfless, generous, and caring are another breed and thankfully outnumber the thugs in the general population, but then...................

Bad advise for Job Searching - from my son's blog - Proudly!

Bad advise for Job Searching - from my son's blog - Proudly!

Inauguration of the new batch of MBA....my welcome speech.

Good morning Ms.Asma Sulthana, Smt.Archana Surana ji, Dr Appaniah, my colleagues, new students, and their parents, welcome. On behalf of the faculty and staff, and your senior students, I warmly welcome the new students to Surana College. To Asma I must say welcome back, since she is an alumna.

As many of you are aware Surana College is a twenty year old college, with this centre being established 15 years ago. We were established and are managed by GDA foundation which was started by visionary businessman Sri G.C.Surana.

I want to reassure all the new students and their parents, that you have made the right choice of college for your post graduate studies. I am confident you will learn a lot here and enjoy your stay here.

There are two aspects that I want to share with all of you. First some orientation to post graduate studies and second a few important rules.

Doing a post graduate program is different from doing an undergraduate program in many ways. The two most important things are, it is mostly about your learning by yourself and secondly, the final examination has two parts one your university examination and the more important one of securing a future in the real world. The world of careers and independent thinking is quite different from the academic world you have lived in all these years. A PG course is a gateway to a career and it is important to understand the other side well.

The main purpose in attending a college is to develop to the maximum in two or three years. For the next two or three years, you will hone your skills and gain knowledge. College will be different, will create uncertainties, and offer new ways of relating to one another and offer opportunities to make your choices. No one will say write this down or wake up on time, you will be on your own and there are many opportunities to learn, it is up to you how you use it.

There are many other differences in a post graduate program and we hope you will learn about them quickly. For example how time is spent in the classroom. Greater involvement of the learner is required, greater preparation before the class is needed if it has to be meaningful class, more discussion and participation is required, there is generally more group work and it is all about independent learning without anyone telling you to learn.

Another example is the workload. Workload might not increase compared to school, however it will be different. Greater depth will be needed, more analysis and critical thinking is expected, and your original thinking and way of looking at an issue will be valuable to everyone. There are differences in group work, study habits required and even family expectations. I am not trying to scare you, all I am saying is you will need to adapt to learning on your own.

I am sure you all know that much more than knowledge attitude is what makes successful people succeed. Research indicates that people can have either a fixed mindset or a growth mind set. Those with fixed mindset believe that you are what you are and you cannot change. This creates problems when you have to do something different. On the other hand those with a growth mindset believe that they can improve with effort. Those with growth mindset love challenges and see them as opportunities to learn something new. They will put in the effort and expect to succeed. We should all have a growth mindset and work with passion. We must do something rather than complaining all the time. We need to be flexible and trust in our selves.

We must have a growth mindset of believing that we can improve with effort.

Please come to college not only to listen to some lectures, but to meet and understand new friends, discuss and work in teams, make decisions, create and take part in events, and think about the various things you are exposed to and learn on your own.

Now very quickly, important rules and suggestions, In some ways we are a conservative college, while we encourage our students in a variety of curricular, co-curricular and extra- curricular activities, discipline is important here. Attendance is expected and essential. Dress code is important.

We are in a multi-storied building and one thousand of us use this building everyday. We need to be concerned about others. Less noise, quick use of limited canteen space, being in class on time, small things will make life comfortable for everyone. At Surana College we have strict policies about ragging and sexual harassment of any kind. If at any time you feel the slightest discomfort, please contact your faculty or me immediately. We have never had any issue till date and this is a really peaceful college. You should be relaxed and comfortable to learn and we want to give you that environment. Finally if you have any doubts about rules and regulations please ask and don’t assume.

My request to the parents; Please drop in regularly and help the student by giving them enough time and space to study.

To the students I will say, be happy, have fun and learn as much as possible from everyone.

Welcome once again.

Employability of Management graduates with degrees from Indian Public Universities.....The system is the first challenge

http://www.deccanherald.com/content/493499/making-management-graduates-employable.html

Does being in a 'Market' where similar products are sold add value to the retailer or increase the intensity of competition?

The operative word is 'similar' which is very different from 'same'. A market place which offers a wider range of options to satisfy the same need among customers attracts a greater number of customers. Greater footfall obviously means greater potential for sales. A good example is the eat street

 near Sajjan Rao circle, Bangalore . Tucked behind the iconic VB Bakery, the market offers a infinite  variety of snacks. Historically the market grew out of a need for the local residents consisting of members of the arya vysya community who were the main residents of the area. This community loves vegetarian fried food and south Indian snacks and how communities have stereotypical food choices is a good subject for another post! Today a number of colleges in the vicinity and foodies from all parts of Bangalore ( and there are a very large number of them!) now frequent this short stretch of a narrow street. Business is brisk only in the evening.

After the VB Bakery came the shops targetted at the vysya community selling favourites from pakkampappu, green gram dhall chaat and  paadu. Among the early entrepreneurs was Murugan of Arya Vysya Tiffins ( pics below), the american sweet corn push cart, followed by a a large number of shops that offer every snack from gulkand butter, holige, akki roti, a number of types of idlis and dosas, fruits, icecreams.....you imagine and it is most likely there.

A market has grown from one outlet to many that similar products. While there is a competition, the market size has grown manifold. For the consumer,  Maximum choice is a wonderful thing...or is it?