Showing posts with label IIPM Admission Detail. Show all posts
Showing posts with label IIPM Admission Detail. Show all posts

Saturday, January 12, 2013

Stress management at workplace

This case study is a peculiar example of organisational psychopharmacology, a science dealing with the stress management of employees. Rajul was efficient in his job and was close to the top management. As a senior he was also answerable to the management. He was being paid well, yet he did not have job satisfaction as he thought the work was monotonous and probably he did not find growth opportunities. Functional tension is a must in employees in order to make them work at optimal level of efficacy and effectiveness. However, dysfunctional tension causes an employee burn out in the long run. The following reasons can be identified for Rajul’s dysfunctional tension:-

Personal reasons: A popular concept in management is, “One should pick up a job which one likes or pick up any job and develop liking for it.” Rajul had been, by and large, doing well as marketing manager. But still, he saw no career development opportunity in GT. He carries this tension home and fights with his wife and shouts at his children. Happiness is a decision and not a dependency. Perhaps Rajul has to learn to be happy and like his job.

Organisational reasons: The chairman, Goldy, being a short tempered lady made Rajul tense while asking for last year’s annual financial report. Remaining cool and not offending the employees is essential for effective functioning of an organisation. Also in weekly conference, when Kaushal and Rajul had heated arguments, Gaurav should have intervened to remove their misunderstanding. Should any organisation recruit employees on recommendations of senior managers, without checking their suitability? Top management of GT has indulged in favouritism by allowing Rajul to be closer to them, which seems to have created professional jealousy. Click here to read more..

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IIPM : The B-School with a Human Face
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Monday, October 08, 2012

MNCS: INDUSTRIAL ACCIDENTS, POLLUTION, AND MONEY POWER

MNCs are hailed as national treasures in some countries; but their devil-may-care attitude results in many tragedies – both industrial and health – making them reasons for global shame

Bhd. at Sungai Buloh, Malaysia in 1991, causing 22 deaths and injuring 103, Bright Sparkles remained lukewarm in helping victims and their families and compensating the environmental damages it has caused. The lethal leak of phosgene gas in a Thai petrochemical company, Thai Polycarbonate Co., which killed only one but injured over hundreds, evoked almost no unified response, despite shocking proof being there of repeated calls earlier on warning of a possible leak. And the fiery explosion at one of the largest oil refineries of British Petroleum in Texas City in 2005, is another example of such unabashed irresponsibility. Well, BP has had a sparkling record of fatal accidents for the last few decades. Honourably so, it is the eighth largest polluter in the US, releasing over 5.1 million tonnes of pollutants with many harmful toxic gases like carcinogens, causing serious health ill-effects to 30,000 people living within three mile radius of its units. But while FBI investigation and imposition of new laws and fines continues, BP operates mercifully at worse levels.

On another front, Nigeria has redefined corporate social irresponsibility. Companies like Shell, ExxonMobil and Chevron are reaping off the nation’s oil industry but continue showing deliberate negligence to protecting the environment, human life and the locality which have been affected by the gas leakage and flares in their plants or refineries.

Protocols like the Kyoto one are more stupidly chivalrous rather than being autocratically (and logically) regulatory. International agencies have to necessarily regulate MNCs with an iron hand, than play to the lobby gallery.


Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Saturday, September 08, 2012

Big just got Bigger!

“Power” to Big B as he turns a year older! Or is it younger? A neighbour’s-envy-owner’s-pride kind of a movie lineup apart, Amitabh Bachchan recently scorched the ramp for designers Karan Johar and Varun Bahl, and rekindled the original KBC frenzy on the small screen. All that for a 68-year old… are there any superlatives left in the book?


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Wednesday, August 22, 2012

New pills for your technology ills

While its utility is still questionable, Apple’s iPad has unleashed a new, internecine battle on the tablet front, which will involve both device manufacturers and OS providers

Back in January 2010, when Steve Jobs had showcased the iPad for the first time and dubbed it to be a magical device, his critics had scoffed and mocked him. “After all, it’s just a giant iPhone,” was what most analysts had said. But now that the iPad has been around for about two months and managed to sell more than two million devices already (and that too mostly in the US as it was not available in other parts of the world before May 28, 2010), they could well consider enrolling for Jobs’ marketing lessons.

Some other technology giants could also add their names to the list. For the first time in the history of technology, we have a device that has become a runaway hit and yet the purpose of its existence is still unknown! Most people would agree that an Apple iPad will not replace their existing desktop or notebook or even probably a net book in terms of usability. No matter how much one may claim to love this device, typing on it is not as breezy as doing it with a physical keyboard. So, does that mean that the only usability it has is in consuming media? Even in that case, the absence of Flash (refer to the heated debate between Adobe and Apple) would hurt the web browsing as well as media consumption experience for many. However, unfettered by all these ‘minor details’, Apple lovers were ready to queue up several hours in advance to order this gadget without physically holding it. Well, in that sense, we agree with Jobs that iPad is magical, even if it is owing largely to the Apple aura. And now this magic has made people sit up and take notice of the emerging demand for a product like tablet computers.

Already basking in the success of Apple iPad and the third generation iPhone, Apple has become the most notable technology company overtaking Microsoft in market valuation. On May 26, on NASDAQ Stock Market trading, Apple’s market value stood at an astounding $222.1 billion, which was a notch higher than Microsoft’s $219.2 billion. This is said to be just a build up to a new crescendo that will be visible post the launch of the new iPhone, which has just been launched on June 7, 2010. The company will start preorders for the same from June 15. The competitors of Apple may have been feeling left out for now, but they are not in any way looking at making things easy for the Apple iPad. As already discussed, this gadget’s utility is still not known clearly but it has already forced some big names (and some not so big names) in the industry to go back to their drawing boards and attempt to bring out similar devices to offer in the market. And it looks like those will be the not-so-notable names that will be the first to jump into this market. The two Taiwanese majors – MSI and Asus have both showcased their Windows-based tablet computers and are expected to launch the same in the market shortly. However, it’s the entry of names like Sony, HP, Microsoft and not to forget Google that will add the spark in this tablet market.


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Saturday, August 11, 2012

Quit boredom, visit Quito!

Situated at the foot of the active volcano Pichincha, and spread across a spectacular Andean valley, Quito enjoys a spectacular natural setting. As a matter of fact, owing to its natural beauty and myriad historical sites, this Ecuadorian city enjoys the reputation of being the first city in the world to be named as a World Heritage Site by UNESCO.

Stroll back in time, as you take a horse carriage ride in the old town. The Mirador El Panecillo statue, which is better known as ‘Virgin of Quito’, stands atop the Panecillo at the southern end of this colonial city. Bordered by the Government Palace on the west, City Hall in the east, Archbishop’s Palace in the north and the Cathedral in the south, is the La Plaza de la Independencia, a building compound of great significance in the 16th century, which is now usually jostling with tourists throughout the year. The former Archbishop’s Palace is now converted into a mini market with a series of small shops and boutiques. Walking into the narrow cobblestone streets transports you to another era.

A 20-minute walk from the old town and an entirely different world welcomes you with trendy cafes, multistory constructions, parks and museums. The new town (Quito) has a plethora of options for your itinerary. Do visit La Compañía de Jesús church, which is regarded as one of the most ornate structures in Ecuador. At the very top of the church is a 7-tonne gold leaf covering the ceiling. The church is one of the finest Spanish architectures one can find. To enjoy a bird’s-eye view of the Pichincha Volcano and the Quito landscape, head straight to Quito’s best-known tourist attraction – El Teleferico, where the ‘Teleferico’ cable car takes you to an altitude of 4050 meters from where one can start an adventure-filled hike to the snow-capped volcanoes.

Set up on a hill overlooking Quito on one side and the valleys on the other, Parque Metropolitano, with a maze of forest paths, roads, sports fields and picnic areas is a picture of pure bliss!

For those planning to escape the crowds, there are many day trips organised by the city to its neighbouring regions. Visit the thermal springs at Papallacta’s or simply enjoy the picturesque view at the pretty pueblos dotted along the quaint Valle de los Chillos.


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Friday, August 10, 2012

FISCAL CONSOLIDATION

...GOVERNMENT BORROWING WOULD DO THE TRICK

At this point in time the expectations from the budget are muted. We believe that given the high fiscal deficit of last year, this will be a budget that targets fiscal consolidation and hence we believe that a degree of stimulus withdrawal is inevitable and also desirable. We believe that achieving the fiscal deficit number of around 5.5% of GDP should not be a challenge and given the economic indicators the government can reduce the gross borrowing figure significantly through lower spend on various subsidies.

This would be a measure that would take the form of retail fuel price increase and can be outside the budget. Similarly a drop in food and fertilizer subsidy would be the most market friendly way of reducing the fiscal deficit and would benefit the broad market besides the sector itself.The other market friendly way of bridging the deficit is to raise money by selling 3G licenses and stakes in government owned companies. While, the fate of disinvestments depends on the state of the markets, we believe that the government has assets which will have good demand. While the cut in subsidy bill is clearly a desirable outcome, it may not be accomplished in one go. We believe that in times like these when it is difficult for Corporates to borrow money from outside, a $10-15 billion of government borrowing in the overseas market would do the trick. It would leave domestic liquidity for corporate growth and provide cheaper finance to the government. The risk on exchange rates would be low because India is slated to become a current account surplus country once again over the next year. We believe that such a move would also be taken positively by the market.

Markets are unlikely to react positively if there is an attempt to increase revenue base by increasing taxation besides in the manner of rollback of stimulus granted in response to the slowdown.


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Thursday, July 26, 2012

Stratagem-INTERNATIONAL : DEUTSCHE BANK: CEO JOSEF ACKERMAN’S SUCCESSOR

Deutsche Bank’s CEO Josef Ackerman is Opposed to The Idea of The Non-German Speaking Anshu Jain becoming his Successor. Reason – he finds Jain Unsuitable and has his Own Choice for Crown Prince. For The $55 billion giant, This may Prove The First Step to Losing The Future.              

Talk of track record. Run through the company’s latest annual report (FY2010), and you will understand why Jain is good at delivering birdies even off the golf course. The Corporate & Investment Banking (CIB) unit headquartered at London, which Jain heads, contributes to 72.3% of the group’s topline of $42.31 billion. Jain is known today as one of the key architects of DB’s investment banking unit. In 2001, judging his abilities, the-then CEO Rolf Breuer appointed him as the head of the-then rather small Global Markets sub-unit (dealing in debt sales & trading business). It was then just a $1.4 billion-a-year topline earner. Last year, that sub-unit alone made $18.8 billion. Since he came on board, Jain’s story-of-rise at DB has run parallel to the bank’s growth. In 2004, Ackerman himself made Jain the co-CEO of the CIB division, alongside Michael Cohrs (who retired in 2010). And since then, the contribution of this unit to group sales has risen from 15% to 72.3% (FY2010). The slowdown presented the heads of many investment banks an awkward stage to perform on. Jain has done exceptionally well so far. His previous employer Merrill Lynch was forced to its knees in the slowdown-marred 2008 & 2009 (most others of its clan had to endure the boiling pot too). On the contrary, under Jain, Deutsche’s CIB unit remained the mainstay for the group, contributing to 32.8% & 67.3% to its topline during FY2008 & 2009 respectively. While speaking to B&E about Jain’s (and DB’s) performance during the downturn, Paris-based Scott Bugie, Primary Credit Analyst at S&P, says, “Though the failure of Lehman Brothers & Bear Stearns, and the downsizing of other competitors such as Merrill Lynch, UBS, and Morgan Stanley due to the severe troubles of the wider investment banking industry in 2007-2009 provided Deutsche Bank and certain other peers with an opportunity to expand market share in some areas, such as prime brokerage, in our opinion, during the industry downturn and the recession, Deutsche Bank remained in the better performing half of the sector from 2007 to 2009.” Since 2004, except for 2008, his division has contributed between 60-80% to the company’s topline.

Under ordinary circumstances, the head of your largest and most profitable division (the CIB unit recorded pre-tax profits which was 150.9% more than that of the group for the past year, with a manpower count which is only 7.8% of the total), and one which delivers a ROE of 32%, as compared to the group’s 10%, is usually preferred as the most deserving for the CEO crown. Not in Jain’s case. Draw up a table of the five highest annual profits recorded by any division in the history of this 140 year-old company, and it all turns out to be those years since Jain took over as CIB’s head. Now, he is faced with a situation, where the Chairman of the Board of Directors of his “global” company is hell-bent on pitting him against a German, who is more of an academician, and has never worked in a capitalistic set-up before. Between 1982 & early 2002, Weber taught economic theories at the University of Bonn, the Goethe University, Frankfurt and the University of Cologne. And between March 2002 and April 2011, after serving on the advisory panel to the Deutsche Bundesbank, he finally retired as the President of the central bank. Here we ask: if Weber was to wear the CEO robe this day, would he be able to motivate 100,000 plus employees to achieve a 15% ROE target (for the group) that Ackerman so proudly announced for the ongoing financial year? Doubtful.

There is another side to the tale. What if Jain is not chosen? Chicago-based Dr. James Butler, MD of The Rigley Group (former Senior Credit Analyst at Merril Lynch), tells B&E, “The fear is that if an outsider is chosen, you will lose 3 to 4 heads of departments – namely Jain and probably even the Chief Risk Officer Baenziger. And this will turn out to be a huge loss for Deutsche Bank, perhaps unrepairable. If it is internal, you will still lose Jain if he is not chosen. That is like losing you best guide in the dark, dense Amazonian forests.”

The number of M&As and dealings in equity capital markets that Deutsche Bank has undertaken in the recent past and the many that it would be involved in going forward, also requires Jain to be on top. Being an investment banker involved in $42 billion worth of M&A deals & $79.8 billion in IPOs during FY2010 alone, means a direct impact of $7.2 billion to pre-tax profits for FY2011 from just the acquisitions for DB (estimates by DB officials). As London-based Equity Analyst at S&P Frank Baden tells B&E, “The risks attached to DB’s growth are due to the company’s need to remain competitive in the global securities business by diversifying, and with a greater focus on asset management. Also, there are large integration risks related to recent acquisitions.” Asset management, debt and securities business – this is Jain’s homeground, let him play skipper.

Even if we were to overlook performance and talk about the time spent in the company, learning culture, none of the other insider prospects have served so many years under DB’s roof to be as eligible as Jain. All others – Bänziger, Lamberti and Krause are younger at the company. And how about the fact that today, of the 30 most valuable-listed German companies, nine are led by non-Germans? We have an analogy here – American Bob Diamond, was made the CEO of one of Europe’s (and England’s) most treasured banking brands Barclays (in September 2010), based on his performance, despite having a Briton for predecessor (John Varley), and a weaker than usual political links.

Why should Jain be chosen as the next CEO? Because he earns more than Ackerman? [For FY2010, Jain took home $16.7 million in compensation, as compared to Ackermann’s lower $8.99 million.] Actually, a financial firm which earns three-fourth of its revenues from investment banking and corporate banking should have an investment banker to lead it. Barclays (led by Diamond), JP Morgan (Dimon), Morgan Stanley (Gorman), BofA Merrill Lynch (Montag), UBS (Gruebel) – all these firms which earn most of their income through a channel similar to DB, have an investment banker on top. If Weber is politically well-connected, he can serve as the Chairman and keep himself busy with members of the German parliament. The perfect solution would be to create a management structure where there are two co-CEOs – Jain and Bänziger. While Jain will take the Investment Banking division to newer heights, Bänziger (the third-most likely candidate for CEO) can take care of the retail business to give adequate diversification and cushion against the risk of another meltdown soon. Weber as Chairman ensuring political outreach, Jain & Bänziger in place, and risk diversification taken care of, Ackerman should stop his search for an excuse under the garb of hypocrisy. Too slow a succession planning process can kill an organisation, no matter how big. And then, Ackerman can offer no excuse for his procrastination – not even a water-tight travel schedule.



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Tuesday, July 24, 2012

Theory“I” talks about how Global Management concepts

Theory“I” talks about how Global Management concepts are now getting Influenced Significantly by lessons from The Indian Context, both Culturally and Professionally. With more and more Indians taking up Global Leadership roles across the World in Varied Areas of Society,polity and Industry,is The World getting Enmeshed with and finally Accepting The Indian style of Management? By Arindam Chaudhuri

Of course, there’s the opposing argument – and quite convincing for that matter – that an Indian who has lived in America for two to three decades perhaps has become completely disconnected with what is being Indian and would have completely forgotten the ‘life lessons’ which I’ve purported above. To sweep away this argument would take less than a moment. Just walk into the home of any Indian family that has spent this argumentative two to three decades in the United States, spend a few hours with this family, and you get to understand the logic of what I’m putting forth. They might be Americans in terms of their citizenry – and I have no issues with that – but the legacy of their Indianness goes much beyond simply the name, and much deeper than the religion connection that also plays a heavy card. And that’s where the Indian-style-of-management hypothesis, the Theory I of it all, comes back in one big wave.

Since the 1950s, management theory and practice has been heavily influenced by the likes of Alfred Chandler, Igor Ansoff, Peter Drucker, Herzberg, Fayol et al. Their theories and those of their peers defined how CEOs and institutional leaders ran their companies and managed their people. McClelland, Skinner, Maslow while building on Elton Mayo’s work became iconic proponents and definers of human behaviour in the 1960s-80s periods. Blake and Mouton added to their celebrity quotient by inventing the Managerial Grid. Hershey and Blanchard went many steps ahead and beseeched the ‘leader’ bunch to become situational leaders – in other words, to moderate their leadership skills depending upon their followers. Giving them glittering company were Levitt, Kotler, who redefined marketing in ways nobody else could, and more contemporarily, Ries and Trout. And then Michael Porter happened to the strategy world, where cost leadership, product differentiation, competitive advantage became terms as common as the morning weather forecast for every CEO. Yes, the list is exemplary and par excellence – more because what these people said, worked.

But somehow, somewhere along the line, the Americanness of it all went completely unnoticed for many decades. There were no questions asked on whether management and leadership philosophies from other parts of the world could perhaps work better. How often has one heard of an American organisation adopting the Japanese management style to surge ahead? Perhaps never. And how often has one heard of the reverse? Probably never again. However, I do remember reading somewhere that when IBM in America was making losses while IBM in Japan was making profits, IBM-USA tried to adopt the Japanese management style to turnaround. Well, the result...increased losses!
 
Predictable? Should be. It is most likely that a style that is successful in Japan would not be as successful in US; and vice versa too. People are different, cultures are different and so is the life-style. That is the reason why Japan has developed its own management style and the US its own. If we take a deep look into the American management style, we realise that it is absolutely fine-tuned to the American culture and way of living. The people in the West grow up, mostly, with very less emotional security due to factors like high divorce rates, single parent families et al. As they grow up, they do tend to find a sense of stability in this seemingly unstable and insecure atmosphere. Thus, when they enter into their job lives and see a management culture prevalent, which is contractual in nature with the hire and fire style of management, they don’t get disturbed. In fact, this motivates them to work harder; and a typical American might metaphorically say, “We are tough guys and as long as we are good, the company keeps us, else we go out”. The bottom line is that the fine tuning between the culture at home and at job works wonders and enhances productivity & motivation.

Looking at the Japanese set of companies, one finds concepts of life time employment working wonders out there. A Japanese finds a bonded culture in his organisation, unlike the American contract culture. If we look into the Japanese lifestyle and culture, we would find the importance of bonds being very high. The Japanese have strong family ties and a strong sense of community. From such an upbringing, they feel at home when they see a bonded style of management on the job. The typical Japanese would say, “I am a Honda man (and not that I work for Honda)”, displaying the bond that he shares with his company. The point that gets highlighted again is that a management style, which flows out of your own culture and roots, would any day motivate your people much more than one which is adopted from somewhere else. I am actually attempting to disprove my Indian style of management hypothesis much before I’ve even proved it. But seriously, it doesn’t take a post doctorate to understand that nationally bound management and leadership concepts should be able to succeed only in those geographies and demographies for which they were originally intended. Therefore while America is the world’s largest economy, Japan the second largest and China racing down their necks, all three have brilliantly different management styles – and all three have similarly different cultures; therefore, the match between their cultures and management styles is perfect. Then why should an Indian style of management succeed (say in the West) where almost all others have failed on the portability parameter? The answer to that lies in the genesis of the Indian style of management.

This genesis that I am alluding to is what can be encapsulated quintessentially by the term ‘Indian culture’, with one significant facet of it being the wondrous quality of not trying to impose its own character, but in trying to modulate the character of individuals and entities around to the benefit of the larger good. If that sounded over the top, let me simplify it by the term, Theory I. 
 

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Friday, July 23, 2010

A SPICY EXCEPTION

It has not been easy for entrepreneurs to flourish in the militancy scarred valley of Kashmir. But some like Muhammad Amin shine out as ‘spicy’ exceptions, feels Haroon Reshi…

It was the year 1972. The Indo-Pak war had just ended and a separate Bangladesh had been carved out of East Pakistan. Armed militancy had still to raise its ugly head and calm serenity waxed eloquent in the Valley. It was in these peaceful times that engineering graduate Muhammad Amin started a spice grinding unit in Anatnag, with an initial investment of just Rs.5,000. That was 37 long years ago. Today, the Rs.1 billion Kanwal Foods & Spices Pvt. Ltd. has an iron grip over the valley, cornering almost 75% market share (self-proclaimed) in spice consumption within the State, with its range of basic and blended spices, instant mixes, ready-to-cook foods and traditional Kashmiri recipe mixes, pickles and jams.

But having an entrepreneurial vision was not a bed of roses for Amin. In the late 80s and 90s, when militancy was at its peak in the valley, looming threats of life and consistent shutdowns and curfews forced scores of entrepreneurs to stash away their ambitions in the cold storage. But not Muhammad Amin. The ordeals only served to add ‘tang’ to his resolve and subsequently to the resolve of his son Farooq, who joined ranks with his father after completing his business management from London. “Militancy disrupted everything,” Farooq Amin, legal heir and the Director of the company told 4Ps B&M. “It was difficult for a common man to live his life, leave alone the question of running a full scale industrial unit. It seemed that the entire industrial fraternity of Kashmir was going down. Many units were declared sick. We found ourselves on the edge. But we did not lose heart. We started surveys and found that despite militancy, every household needed spices everyday. The demand was unaffected and so we stood our ground. When it became impossible for us to function at full capacity in Kashmir, we expanded our production capabilities into Delhi and flew down our manufactured products in J&K and used every effort to push the goods into the market,” he reminisces.

Persistence pays. Soon, Kanwal Spices’ market share increased to the point that it became the largest food processing brand in the state, collecting every possible national and international level accreditation along the way viz. ISO standards, HACCAP and Agmark. “We have always met with some stiff competition from the brands that are sold nationwide, like MDH, BMC, et al, which have been around for quite a long time now. Though I must press the point that in terms of quality we are way ahead of them as the raw materials we use are of the best grade available,” boasts Farooq. Not resting on past laurels, the group expanded its product offerings to include a bottled water brand in its fledging kitty. Named Treish (Kashmiri word meaning Drinking Water) the company has already set up a state-of-the-art packaged drinking water processing and packaging plant for the same. It took five Years of R&D before the project kicked off, besides numerous visits to global markets in search of technology and know-how. Incidentally, before Treish the mineral water segment in the state was largely deemed as a “big flop” as most businessmen, who had tried their hands at this industry, had failed to make a dent in the market. Kanwal Spices took the challenge head on and created a brand that made the MNCs in the segment sit up and take note. Incidentally, Treish is BIS (Bureau of Indian Standards) certified and its quality and composition are almost at par with globally prestigious brands like Evian.


Both Farooq and his father are now quite upbeat about the potential that their brands have for both, expansion within India and internationally, especially with a brand tagline that read: ‘Adding Kashmiri Flavour to Global Cuisine’. Farooq feels that thanks to the huge brand knowledge about Kashmir ensures that any and every product line of the group has the potential to sell like hot cakes. “Imagine Kashmiri Deghi Mirch. It is sold all over India under various brands and has huge takers even though the chili does not really come from Kashmir. We have a line of products which is competitive in terms of quality, purity, aroma, packaging and we manufacture almost every spice that is used in India, be it Biryani Masala, Korma Masala or even the traditional Garam Masala and Meat Masala,” he says, adding that the group is already firming up its plan to go the whole hog with a national distribution and marketing roll out.

In fact, slowly but surely Kanwal Spices is already becoming visible in many major cities of India. They are already supplying their spices to some cities in north India and are in the process of tying up with major players in the retail market, including Reliance Fresh, Subhiksha, Vishal Mega Mart, and More. With already functional manufacturing units in Delhi and Bangalore, the group feels that they already have the competitive edge for a pan India presence. Markets like Lucknow, with a perceived penchant for mughlai cuisine, are becoming primary targets. Adds Farooq, “One thing that drives home the fact for us that we have a great potential for the Indian market is the immense response that we have got from different sections of the Indian consumer while participating in various trade shows, food fairs & expos that are held every year. People who buy our spices during such events love our products and for them we sometimes supply small quantities of our products to the farthest parts of India.”

Much more is cooking at the company headquarters in Anantnag. “We are currently doing research and development (R&D) for the manufacture of organic fruit juices, fruit jellies and bread and bakery. The manufacturing of these products will be carried out in line with the latest European technology and machinery. We are hopeful that within the current year we would be able to establish these industries in Kashmir and would be effectuating sales by the next fiscal,” says Farooq. Further, the group is also expanding into the manufacture of bread, bakery and confectionery and another manufacturing unit is being built in Srinagar to cater to this excess capacity.

For a generation of Kashmiri’s, the success of Kanwal Foods & Spices could well serve as a role model to emulate and encourage young entrepreneurs. Here’re Farooq Amin’s parting words to them, “I have witnessed a strange phenomenon creeping into the mind of the youngsters of Kashmir - they want to grow rich overnight. I would urge them to stop fantasising and realise that while staying on the ground they can build up and reach for the skies. Easy money is for easy goers and it never sees the light of the actual day. Let us toil together and work towards a future that is as bright as the sun.”

Haroon Reshi

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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