DOMS NEWSLETTER March 1
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Transcript of DOMS NEWSLETTER March 1
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Faculty Spot
MarketingStrategies during
Recession- Ms. K. Keerthi,
Asst. Prof.
The marketers should
have to do everything withintheir power to survive in thebattle against recession. Theeffective and affordablemarketing strategies that help tostay alive in a period of economic downturn like this arelisted below:
Survive Until The
Storm Is Over:
Recession is only a part
of the business cycle. Historyreveals that there is recession inevery decade. The first thingthat every marketer has to fix intheir mind is that, they have tosave their current market shareuntil the recession is over.Don’t get the fever of recessionand think that it is only a
period where demand for products will fall and we oughtto take every step to increaseour sales.
Serve Your Customers
As a Slave:
Director’s cabin
It makes me very happy to start a separate newsletter of DOMS. I heartily congratulate all the staff
members for their contribution and successful completion of our 2nd Periodic Audit-Quality
Management System - ISO Audit.
I extend my heartfelt appreciation to DHILIP of MBA first year for having won weight lifting
competition both at state and national level and I want to congratulate our students M. Ranganayaki
and R. Saranya for winning first prize in national level meet organized by Annamalai University.
A.V.C COLLEGE OF ENGINEERING
DEPARTMENT OF MANAGEMENT
STUDIES
DOMS KNOWLEDGE GRANARY
“CREATING SAMRAJYA”
’
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In a situation of economic downturn, consumersare really the king. When their purchasing power is reduced,they will tighten their purse and
only the best can survive. So,what a marketer has to do is heshould make his customersdelight, he should make themfeel that they are gettingsomething much more than theyare expecting. Remember, asatisfied customer willdefinitely bring more clients toyou.
If you are serving onlybig clients and neglect smallorders, now it’s the right timeto change your policy. There isno financial loss in servingsmall clients or someone withspecial needs, as long as itdoesn’t eat your profits. Notonly it will help you to cover operation cost, it will have thepotential to pull you out of recession. If the business of your small clients growsquickly, then their order valuescould come into your regular scope of business. Try withsome trial orders to decidewhether it suits you or not.
Invest In Your Brand:
It is the right time toinvest in your brands. Usually,the initial reaction of almostevery marketer in respond torecession is reducing themarketing cost. But it is thetime for you to build your brandloyalty. You will be heard whenall others are shutting their marketing mouths. In battle,everybody will get wounds but
the one who never shows hispain will be the survivor. So
keep it in mind, bargain withyour media for the rates andinvest in building your brand.
Concentrate In your
Core Business:
It is the time for you toconcentrate only in your corebusiness. Companies who diddiversify and split focus awayfrom their core competenciesoften struggled to manage their unrelated business whereascompanies that remainedfocused or re-focused on their
core created opportunities togain market share more easilyfrom their competitors.
The first thing you haveto do, if your industry is worstaffected, is that you shoulddivest your less profitable or unrelated business. At facevalue these divestments will bea part of a strategy of cutting
cost or generating short termliquidity.
Lower Your BEP:
Even if you are monopolyor selling a premium brand or even if your customers areloyal, strive hard to cut your costs. You should cut your costs and not your investments.
Try to lower your Break EvenPoint to new lows. If your company is the lowest costproducer then you have a better chance of survival.
Concentrate More In
R&D:
Every marketer should tryto introduce new products to
gain advantage over competition. The companies
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should use R&D to meet theincreasing diverse needs of their recessionary customerswho seek greater value for their spending. Try your level best to
introduce most promisingproducts that met the immediateneeds of your customers. Thereis an old proverb called“Necessity is the mother of invention”. Try to make thereverse of it. Introduce newproducts and make it as anecessity to your consumers. Itwill make your business togrow when most move in the
opposite way.
Understand Your
Customers:
It is the time you shouldlisten to your customers. Theywill show you the way to beatrecession. Only think you haveto do is that you should comedown and ask them. Try to
understand your customers. Sowhen your customers starttightening their purse, you cando that too. Also they will tellhow much they can pay you.Listen to that and strive to do it.
In every war, a hero willemerge. In this battle againstrecession, it is the time for youmarketers to show yourself as areal hero. Save your business aswell as the economy.
Personality of this
Month Lalu PrasadYadav
Lalu Prasad Yadav is an
Indian politician from Bihar.
He acted as the Union Railway
Minister from 2004-2009 under
UPA Govt. He is the one who
converted Indian Railways
from a loss-making operation to
a public sector unit that stunned
everyone by earning a profit of
Rs 15,000 crores (Rs 150
billion) in 2005-06. IR was
considered to be heading
towards bankruptcy, as per the
report of Expert Group on
Indian Railways. The fund
balance at the end of 1999-00
had reached a low of Rs 149
crores, improving to Rs 5228crores by 2003-04 and over Rs
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12,000 crores by the end of
2005-06. All these
achievements were only
because of the common sense
management principlesfollowed by Mr. Laloo Prasad
Yadav.
Principle no-1 Catch the bull
by the horn
• My mother always toldme not to handle abuffalo by its tail, butalways catch it by itshorns. And I have usedthat lesson in everythingin my life, including theRailways." –Lalu PrasadYadav
• When some Boardmembers expressedapprehensions inincreasing wagon loads,a decision which alonegenerated Rs 7,200crore (Rs 72 billion),Prasad said: "Wagon isthe bread-earning horseof the Railways. Load itadequately. Make it runand don't stable it."
Principle no 2: Sweat the
assets
• "If you do not milk thecow fully, it falls sick,"is which he practicedwhile running theRailways.
He achieved his targetsnot by increasing faresor downsizing, but byincreasing traffic.
Principle no 3 employeewelfare
• Given the financialperformance of the IR,the unions wanted adoubling of thecontribution to the staff welfare fund. Mr LalooPrasad offered them
nine times from Rs 26/-per employee to 222 per employee.
• Whenever concernswere raised aboutdownsizing , hemaintained:“Downsizing may makeIR thinner, but notnecessarily healthier “
Principle no 4 delegation andinterference
• Mr Laloo Prasad is anon-interfering, yetaware, He sets the goalsand expects results
• The current BoardMembers function as acohesive entity, due tothe force of expectationon legitimate initiatives
Principle no 5 customer
service
Some of the bestcustomer service camefrom the Railways
• ETickets-avoiding the
long queue for reservation
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• Auto up gradation-reducing the corruptionand the malpractices of the TT.
• Launching of air-
conditioned –garib rath• The improvement of the
railway stations• Simplification of the
Railway reservationform
Principle no 6 image building
• Given his penchant for wit and one liner, Mr.Lalu Prasad was soughtafter by the media.Whenever there was anopportunity to highlightan initiative or anachievement,advertisements werereleased.
• In recognition of hisinitiatives, Mr LaluPrasad has also beenranked as the secondbest minister in thecurrent cabinet [IndiaToday, May 29, 2006].
Odd industry market
trends
There is no shortage of offbeat
jobs people do today. Here we
look at eight odd occupations.
Pet Food Tester
How do pet food companies
know what their products taste
like and if dogs and cats will
like them? They hire food
technologists who specialize in
pet foods. Generally, food
technologists taste foods to
develop consistent flavors,
create new product concepts
and check for food quality. The
same goes for pet foods.
Carnival Barker (aka Carny)
If you like travel and don't mind
hard work and long hours, a
carnival barker — or carny —
may be the job for you. There
are approximately 350 carnivals
that tour the U.S. every year,
and an estimated 350 million
people visit them. All of them
need ride operators,
entertainers, games facilitatorsand more. According to Simply
Hired, carnival workers earn an
average $26,000 annually.
Light Bender
Bars, diners, even Las Vegas
would not be the same without
bright neon signs. Fromordinary "open" signs to
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fantastic designs like the
balloon at the Paris Las Vegas,
neon lights don't bend
themselves into shapes on their
own. That's where light benders
step in.
Light benders require precision
and electrical know-how to
shape and light glass neon
tubes. Light benders earn an
average annual salary of
$26,000.
Smokejumpers
Smokejumpers are the brave
men and women who combat
wild fires in rough
environments such as
mountainous terrains.
Smokejumpers are required to
have a high level of physical
fitness, mental stability, and
extensive safety and technical
training. The average income
for these firefighters is $40,000.
Snake Milker
People who are bitten by
poisonous snakes only have a
small window of time for
receiving the antivenins (anti-
venom), or the bite could prove
fatal. To develop the antivenin,
snake milkers obtain venom
from live snakes by forcing the
snake to bite a membrane that is
stretched over a glass receptacle
that collects the venom. Some
snake venoms can fetch up to
$2,000 per gram.
Oil Patch Roughneck
Perhaps not all that strange of
an occupation, but the lowest
on the oilrig totem pole is the
oil patch roughneck . Tasked
with connecting pipes and
fixing rigs, the job is dirty, loud
and requires long hours.
Roughnecks can make
approximately $47,000
annually, and room and board is
often included.
Ocularist
Ocularists are technicians who
fit, shape and paint custom
ocular prostheses. They also
instruct the patient on how to
handle and care for their
prosthetic eyes, as well as
conduct periodic examinations
on the artificial eye. Prostheticeyes cost from $1,000 to
$2,800.
Foley Artist
In contrast to the sound of
exploding buildings or
spacecrafts whizzing through
space, foley sounds are natural,everyday sound effects like
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footsteps or the rustling of
clothes that Foley artists create.
Using many different shoes and
props, the Foley artist either
replaces the original sound or
augments existing sounds to
create a richer sound track.
PINK SLIP MANAGEMENT
'Pink Slip' is a term originated
from US and became popular in
mid-2000 when over 80,000
jobs were lost in one day and
the nomenclature ‘pink slip’
was used. Because, that time
the letter of discharge along
with full and final payment to
those workers/employees was
handed over to them in an
envelope which was Pink in
color. Thus the practice of
discharging someone's services
in US is known as handing over
a 'Pink Slip’. Giving pink slip is
also called as downsizing.
"Conscious use of permanentpersonnel reductions in an
attempt to improve efficiency
and/or effectiveness”.In other
words pink slip is known as
"excess reduction",
"rightsizing","delayering ",
"smartsizing", "simplification",
"force shaping", "recussion",
and "reduction in force". To
make free from pink slip and its
impact employee should be
flexibile
Open to new ideasand practices.
Initiative.
Committed toquality work andan innovativespirit.
After downsizing, organization
get back their fame by
Gather Facts about theimpact of downsizingamong the employees andamong the public
Be prepared to faceresistance from tradeunions and other localparties
Communicate quickly
and accurately about theneed for downsizing andsecure the participation of employees in makingdecision
Conduct brainstorming
to find out the bestpossible ideas that couldsave the organizationfrom decline.
Develop policies tominimize crisis and torestore the employeemorale.
Assemble and organize
resources to achievelowest production cost.
Downsizing should beused only as a last resort.Organization’s should be very
cautious while doing this. In noway it should damage the
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public image of theorganization.
Lunch with MBAs
Two students arechatting during their lunchbreak and the conversationamong them goes like this…
Madu: Hey did you go seen thefinance budget passed byPranabji?
Mathu: Ya, I read it in thenewspaper. As usual one morebudget is presented today andone more year is lost. I foundnoting impressive in the budget.
Madu: Why are talking so?This budget is more beneficial
to the tax payers. In case of personal tax, the minimumexemption rate is increased to1.8 lakhs; citizens above 80years are exemption from IT for upto 5 Lakhs; and senior citizens entitlement is reducedto 60 years.
Mathu: First ask the Govt. tofind ways to reduce tax evasion.
Do you know about Hasan Ali?
And, I am not evensatisfied with the exemption onpersonal tax limit. Nowadays,an average citizen spent nearly20 to 30% of his income of food alone. I don’t think the taxexemption is sufficient tobridge the hiking cost.
Another important thingis that no effort has been takento control food inflation.
Madu: Hey not like that ma.
The food inflation is reducedfrom 20% to 9.2 %.
Mathu: No, I won’t agree. Thereal solution to this problemlies within the empowerment of farmers. I think no integratedstrategy is announced for agricultural sector.
Madu: I think you did read thebudget completely. The interestrate on agricultural loan isreduced from 7% to 4%. To meit is more beneficial than loanwaiver.
Mathu: Hmm, What about thecut on subsidies to fuel,fertilizers and food. Pranabjialso increased the rate of service tax on air travel and stillno effort has been taken controlthe fuel price.
Madu: Why you are talkingonly the negatives. He doubledthe limit on FII inflows oncorporate bonds. The surchargeon corporate tax is reduced andthe anganbadi workers arebenefited with a wage increase.
Pranabji has increased
the allocation for thedepartment of justice fromrs.280 crore to rs.1000 croreand the further added morecourts will be openedthroughout the country. He alsoallocated more fund toempower women and promotetheir self help groups.
Mathu: Whatever you say,
Pranabji has made budget as a
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routine exercise and he doesn’tdid justice to the common man.
Madu: Hey you should bringthis in mind, at times the
biggest reforms are not the oncethat makes headlines but theones concerned with the detailsof government which affectsthe everyday life of commonman. I think the present budgetis prepared on this ethicalground with the vision of stabilizing india’s GDP growthat 9%.
Mathu: Ethics ha? What aboutthe black money issue? You aretalking about the FIIs but whatabout our country’s investmentof more than 1,75,000 crores asblack money in other countrybanks. What the Govt. did tocease these money. You knowour entire nations growthdepend on this!
Madu: Hmmm… but….. HeyUGS sir came to class… willspeak later.
Good Afternoon sir….
Employee PrivacyVs employerSecurity
Workers of the world areexposed to many types of privacy-invasive monitoringwhile earning a living. Theseinclude drug testing, closed-circuit video monitoring,Internet monitoring and
filtering, E-mail monitoring,instant message monitoring,
phone monitoring, locationmonitoring, personality andpsychological testing, andkeystroke logging. Employersdo have an interest in
monitoring in order to addresssecurity risks, sexualharassment, and to ensure theacceptable performance of employees. However, theseactivities may diminishemployee morale and dignity,and increase worker stress.
The breakeven point at whichthe monitoring program
achieves business objectiveswhile also protecting employee privacy is dependent on variousfactors. The most importantfour such factors are givenbelow:
a. Target
What needs to be considered is
who is being targeted. Is it justone person or a group of peopleor all? Discriminating andmonitoring a single personwould not be acceptable to thelaw. Assuming that there is nodiscrimination or a group of people are getting monitored,some level of surveillance ispreferred and acceptable. For example, if a stock broking firm
needs to ensure that itsemployees are not transferringconfidential information aboutstock price tips to outsiders, itwould make no sense for themto monitor the support, adminor human resource personnel.
b. Purpose of the surveillance
Law expects employers to have
a reason or a purpose for monitoring e-mails and internet
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usage. Reasons range fromproductivity to companyliability to confidentiality. If thepurpose seems fair and areasonable level of surveillance
is used, law would allow it.
c. The Surveillance
technology
The kind of surveillancetechnology used also is a factor that is taken into considerationin the reasonableness analysis.The decision to adapt the besttechnology would be the less
intrusive to gain its purpose aswell as respect privacyinterests.
d. Adequacy of notice
Before monitoring e-mailaccounts, an employer needs toinform the employee about thepurpose and method of
surveillance. The AustralianOffice of Privacy has providedsix guidelines that should beincorporated into companypolicies.
1. The policy should bedisseminated to all employeesto ensure that they understandand do not expect completeprivacy in their e-mails and
internet usage.
2. The policy should be explicitas to what activities arepermitted and what areforbidden.
3. The policy should clearly setout what information is loggedand who in the organization hasrights to access the logs and
content.
4. The policy should refer to theorganization’s computer security policy as improper usage could create anunnecessary legal liability for
the company.
5. The policy should outlinehow the organization intends tomonitor or audit staff compliance.
6. The policy should bereviewed on a regular basis inorder to keep up with theaccelerating development of the
Internet and informationtechnology.
Know your TrueValue!
A well-known speaker started off his
seminar by holding up a 500 $ note. In
the room of 200 Peoples,
He asked, “Who would like this 500 $
note?”
Hands started going up.
He said, “I am going to give this note
to one of you but first let me do this.”
He proceeded to crumple the note up.
He then asked, “Who still wants it?”
Still the hands were up in the air.
“Well,” he replied, “What if I do this?”
And he dropped it on the ground and
started to grind it into the floor with his
shoe. He picked it up, now all
crumpled and dirty.
“Now who still wants it?”
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Still the hands went into the air.
“My friends, you have all learned a
very valuable lesson.
No matter what I did to the money.
You still wanted it because it did not
decrease in value. It was still worth
500 $/-.
Many times in our lives, we are
dropped, crumpled, and ground into
the dirt by the decisions we make and
the circumstances that come our way.
We feel as though we are worthless.
But no matter what has happened or
what will happen.
Never lose your value.
You are special. Don’t ever forget it!
Never let
yesterday’s disappointments overshad
ow tomorrow’s dreams.
“VALUE HAS A VALUE ONLY IF ITS
VALUE IS VALUED”
HOW SMART IS YOUR RIGHT
FOOT??
You have to try this, it really works.
This only takes 2 secs…
How Smart Is Your Right Foot?
This is so funny that it will boggle your
mind. And you will keep trying it at
least 50 more times to see if you canoutsmart your foot. But you can’t
1. While sitting at your desk, lift your
right foot off the floor and
make
clockwise circles with it.
2. Now, while doing
this, draw the number “6″ in the air
with your right
hand. Your foot will change directions.
I told you so…And there is nothing you
can do about it. Make sure you
pass this on to your friends. They
won’t be able to do it either.
A Nice Philosophy
You don’t actually have to take thequiz. Just read the email straight
through, and you’ll get the point, an
awesome one, that it is trying to
make!
1. Name the five wealthiest people in
the world.
2. Name the last five Heisman trophy
winners.
3. Name the last five winners of the
Miss America contest.4. Name ten people who have won the
Nobel or Pulitzer prize.
5. Name the last half dozen Academy
Award winners for best actor and
actress.
6. Name the last decade’s worth of
World Cup winners.
How did you do?
The point is, none of us remember the headliners of yesterday.
These are no second-rate achievers.
They are the best in their fields.
But the applause dies.
Awards tarnish.
Achievements are forgotten.
Accolades and certificates are buried
with their owners.
Here’s another quiz. See how you do
on this one:
1. List a few teachers who aided your
journey through school.
2. Name three friends who have
helped you through a difficult time.
3. Name five people who have taught
you something worthwhile.
4. Think of a few people who have
made you feel appreciated.
5. Think of five people you enjoy
spending time with.