I was reading an article in business week about the way in which the movies are being screened. It’s called Digital screening and this seems to bring revolution in the way movies will be screens. It is started in Singapore and it’s expected to cover Asia and other countries soon.
Summary of this procedure is,
1) Movie studio digitizes and compresses the film, then puts it in a removable hard drive.
2) The drive is sent to cinemas by courier, although this might change to satellite delivery.
3) Separately, the studio sends a digital key that unlocks the film and limits the number of times it can be played.
4) The driver and key are plugged into a server in the projection room. The movie is ready to show using digital projector.
In my opinion, it makes a huge business sense and I am sure, this will change, forever, the way we screen movies now a days.
Tuesday, May 30, 2006
Digital Cinema
Monday, May 22, 2006
Innovation in Marketing
This week’s business week has an article on an innovative marketing technique that P&G has come up with. Its targeting moms, who will be talking to more number of people compared to normal moms. They have targeted call center moms, for example, where they will meet more number of people.
The idea is to word-of-mouth marketing for P&G products and the members of chain will talk to other people about P&G products. As per this article, P&G actually doubled its Dawn Dishwasher sales in participating locations where this connectivity program, Vocalpoint, is currently being tested out.
And what do member gets is free samples of P&G products and more ever a big satisfaction about achieving some thing major.
To me it looks like a great idea of making use of big population for marketing the products. This clearly reflects the fact that marketing is not restricted to company logo, website and email news letter, it includes innovative ideas like this. The good part about this kind of marketing is, you will have an advantage of big workforce, Vocalpoint members in this particular case; as against only marketing people.
In this competitive world, one should come up with such innovative ideas, again innovation should not be restricted to products
The idea is to word-of-mouth marketing for P&G products and the members of chain will talk to other people about P&G products. As per this article, P&G actually doubled its Dawn Dishwasher sales in participating locations where this connectivity program, Vocalpoint, is currently being tested out.
And what do member gets is free samples of P&G products and more ever a big satisfaction about achieving some thing major.
To me it looks like a great idea of making use of big population for marketing the products. This clearly reflects the fact that marketing is not restricted to company logo, website and email news letter, it includes innovative ideas like this. The good part about this kind of marketing is, you will have an advantage of big workforce, Vocalpoint members in this particular case; as against only marketing people.
In this competitive world, one should come up with such innovative ideas, again innovation should not be restricted to products
Tuesday, May 16, 2006
Good (Old) times are back!
Business week has a good article, ‘It’s feels like 1998 all over again’. This report says the startups are remerging and people have started investing in their own ventures. And having a company is getting the idea all again, as it was the case in 1998-99.
When the last bubble started, it was a hard time for startups as we didn’t have the infrastructure like broad band connection and easy access to net, but now the condition has changed drastically. The startups will enjoy a good infrastructure, high speed and more stable net connection and more ever ‘net savvy or net educated people’. These starts ups need not to work hareder to bring people to net! This is the huge advantage over the last time, and with matured business model new startups can think about revenue models in a better way.
It says, ‘So if cheap, identical startups are multiplying daily, is the Internet industry necessarily headed for another colossal crash? Hardly; The Great Bubble may have destroyed fortunes and jobs when it burst. But the history of Silicon Valley is replete with many small bubbles that served to motivate entrepreneurs and investors without causing widespread harm’.
When the last bubble started, it was a hard time for startups as we didn’t have the infrastructure like broad band connection and easy access to net, but now the condition has changed drastically. The startups will enjoy a good infrastructure, high speed and more stable net connection and more ever ‘net savvy or net educated people’. These starts ups need not to work hareder to bring people to net! This is the huge advantage over the last time, and with matured business model new startups can think about revenue models in a better way.
It says, ‘So if cheap, identical startups are multiplying daily, is the Internet industry necessarily headed for another colossal crash? Hardly; The Great Bubble may have destroyed fortunes and jobs when it burst. But the history of Silicon Valley is replete with many small bubbles that served to motivate entrepreneurs and investors without causing widespread harm’.
Monday, May 15, 2006
What makes an effective executive?
I was reading this article in ‘Harvard Business Review’. Here is the summary of this article.
To become an effective leader, one need not necessarily be a man with charisma. What made them all effective is that they followed the same eight phases.
1) They asked, “What needs to be done”.
This question, almost all the times will have more then one urgent task. Jack Welch came up with answer, every five years, “what are needs to be done, now” and each time he came up with different answer.
2) They asked, “What is right for enterprise”.
Asking this question while making important decisions do not some times guarantee the best results, but not asking this question always leads to bad decisions.
3) They developed action plans.
Executives are doers. Knowledge is of no use for executives unless it is been translated into deeds. But before jumping in to action, executive needs to plan his course of action. How he wants to execute, about desired results, problems, check-in points etc.
In addition to an execution plan, this action plan should contain a system for checking the results. Typically two; one halfway through and other towards the end. Without an action plan executives becomes a prisoner of events.
4) They took responsibility for decisions.
5) They took responsibility for communicating.
6) They were focused on opportunities rather then on problems.
Problems should be taken care of off course, but taking action on problems will not create results, it prevents the damage, where as focusing on opportunities produce results. Executives should put their best people on opportunities then on problems.
7) They ran productive meetings.
Decide before meeting, what kind of meeting this would be and set a fixed agenda. Its equally important to take MOM and distribute the action items to all present in the meeting. Also, it’s important to follow-up on these action items.
8) They thought and said, “we’ rather then “I”.
Effective executives differ widely in their personalities, strengths, weaknesses, values and beliefs. All they have in common is, they will get the things done. Effectiveness is a discipline and like any other discipline, effectiveness can be learned and must be learned.
To become an effective leader, one need not necessarily be a man with charisma. What made them all effective is that they followed the same eight phases.
1) They asked, “What needs to be done”.
This question, almost all the times will have more then one urgent task. Jack Welch came up with answer, every five years, “what are needs to be done, now” and each time he came up with different answer.
2) They asked, “What is right for enterprise”.
Asking this question while making important decisions do not some times guarantee the best results, but not asking this question always leads to bad decisions.
3) They developed action plans.
Executives are doers. Knowledge is of no use for executives unless it is been translated into deeds. But before jumping in to action, executive needs to plan his course of action. How he wants to execute, about desired results, problems, check-in points etc.
In addition to an execution plan, this action plan should contain a system for checking the results. Typically two; one halfway through and other towards the end. Without an action plan executives becomes a prisoner of events.
4) They took responsibility for decisions.
5) They took responsibility for communicating.
6) They were focused on opportunities rather then on problems.
Problems should be taken care of off course, but taking action on problems will not create results, it prevents the damage, where as focusing on opportunities produce results. Executives should put their best people on opportunities then on problems.
7) They ran productive meetings.
Decide before meeting, what kind of meeting this would be and set a fixed agenda. Its equally important to take MOM and distribute the action items to all present in the meeting. Also, it’s important to follow-up on these action items.
8) They thought and said, “we’ rather then “I”.
Effective executives differ widely in their personalities, strengths, weaknesses, values and beliefs. All they have in common is, they will get the things done. Effectiveness is a discipline and like any other discipline, effectiveness can be learned and must be learned.
Friday, May 12, 2006
Detroit Pistons are NBA Champions!!
You might wonder, how come so early, we didn’t finish the conference finals yet! But, yes, I am predicting what might happen.
Looking at how they are playing, this team is unbeatable. They are strong at defense and offence. And more ever, they work and play as team, when their high scorer gets doubled up by opponents, some body else will step in and finish of the game.
My prediction is Pistons Vs Heats and Spurs Vs Suns for conference finals, Pistons Vs Spurs in the championship final and Pistons will NBA.
Looking at how they are playing, this team is unbeatable. They are strong at defense and offence. And more ever, they work and play as team, when their high scorer gets doubled up by opponents, some body else will step in and finish of the game.
My prediction is Pistons Vs Heats and Spurs Vs Suns for conference finals, Pistons Vs Spurs in the championship final and Pistons will NBA.
Tuesday, May 09, 2006
Importance of Strategy- A good story
One day, there was a blind man sitting on the steps of a building with a hat by his feet and a sign that read: "I am blind, please help".
A creative publicist was walking by him and stopped to observe he only had a few coins in his hat, he dropped a few more coins in his hat and without asking for his permission took the sign, turned it around, and wrote another announcement. He placed the sign by his feet and left.
That afternoon the creative publicist returned by the blind man and noticed that his hat was full of bills and coins. The blind man recognized his footsteps and asked if it was him who had re-written his sign and he wanted to know what did he write on it? The publicist responded: "Nothing that was not true, I just rewrote your sign differently".
He smiled and went on his way.
The blind man never knew but his new sign read : "TODAY IS SPRING AND I CANNOT SEE IT".
Change your strategy when something does not go your way and you'll see it will probably be for the best. Have faith that every change is best for our lives.
A creative publicist was walking by him and stopped to observe he only had a few coins in his hat, he dropped a few more coins in his hat and without asking for his permission took the sign, turned it around, and wrote another announcement. He placed the sign by his feet and left.
That afternoon the creative publicist returned by the blind man and noticed that his hat was full of bills and coins. The blind man recognized his footsteps and asked if it was him who had re-written his sign and he wanted to know what did he write on it? The publicist responded: "Nothing that was not true, I just rewrote your sign differently".
He smiled and went on his way.
The blind man never knew but his new sign read : "TODAY IS SPRING AND I CANNOT SEE IT".
Change your strategy when something does not go your way and you'll see it will probably be for the best. Have faith that every change is best for our lives.
Monday, May 08, 2006
Cold Stone Creamery
I visited Cold stone Creamery this weekend; I was pretty much impressed with the business plan behind that chin. They have wide variety of selections to make and what fascinated me most is how they sell ice-cream which will be available cheaply in grocery stores.
They have a company statement, ‘Friends don’t let friends to eat ice-cream from grocery stores!’ And also, they sign different songs when a customer tips them, the working mood was jolly and I bet, they attract many customers due to this kind of clean and neat service.
I read about this business plan in Business Week some time back, but now I got a chance to see it. And more ever, it works!!
They have a company statement, ‘Friends don’t let friends to eat ice-cream from grocery stores!’ And also, they sign different songs when a customer tips them, the working mood was jolly and I bet, they attract many customers due to this kind of clean and neat service.
I read about this business plan in Business Week some time back, but now I got a chance to see it. And more ever, it works!!
The Five Messages leaders should manage
I was reading a review in ‘Harvard Business Review’ this weekend, titled ‘The Five Messages leaders should manage’, by John Hamm.
This is all about functioning of CEO and what they need to really focus on. Author says, CEOs need to focus on how to pass the correct message through out the organization, it’s very vital for company’s success. He compares the situation with Emergency Medical System, where all the team members seem to be on the same page, all the times. The doctors, the paramedics, the nurses, all of them share the same thought when comes to saving a life. The same situation should be there in the organization. Otherwise, the vision and dream of a company will remain in the boardrooms only. Author says, CEOs should not assume that all his top management shares the same thought that leads to disaster. CEO should inspire the organization to take up responsibilities for creating better future.
1) Organization Structure and Hierarchy.
Organization restructure should happen to align with market competition and that should always aim to take up the competition. In this competitive market place, aligning the company structure is the need of hour and CEOs needs to do a better job on communicating the organization changes up to the bottom level. Otherwise it just creates confusion amongst employees about what is the future of the company and who is what in new organization. Communication should be so effective that there should be no room for confusion or fear.
Author gives example of HP and its then boss. He says, when reorganization happened, everyone was so confused about their future that the actual work stopped for 12 weeks, which is one full quarter! Instead, he says, with in 48 hours of announcement of restructure, CEO should have a company wide meeting and a web cast as why this is been done. To keep the confusion to a bottom level, CEO should have involved everyone in the structure plan.
2) Financial Results:
Results are another powerful concept that left unmanaged, poses a risk to a company’s long term health. When a CEO tells, focus on our results, senior managers often interpret that as meaning ‘Do whatever it takes to meet investor expectations’. By loosing the sight of the connection between employee behavior and results and failing to take advantage of existing opportunities, thus leaders miss out building a long term value for their firms.
Results should be used as diagnostic tools in the service of improving future execution.
3) The Leader’s sense of his or her job.
Surrounded by people who seek their feedback and approval, some fall in to the trap of thinking that their responsibility is to be the person who has all the answers. The ‘answer man’ falsely believes himself to be the final arbiter of conflicts, decisions and dilemmas. This puts him in to a very lonely and isolated position.
Effective leaders should understand their role is to get answers from others. Everyone has answers, ask questions, especially when some thing goes wrong.
4) Time Management:
Every executive feels that time is in short supply. CEO must communicate to the company that resource of time must not be squeezed for all it is worth but instead must be strategically utilized. Time is fixed to choose wisely within constraints.
5) Corporate Culture:
Culture is not created by declarations; it derives from expectations focused on winning. Culture that encourages performance if you hire right people and implement processes that will allow the company to win. CEOs who fail to communicate the vision and expectations very clearly, produce meaningless culture.
There is absolutely no use of having Friday parties, cultural programs etc, if this is not done properly.
This is all about functioning of CEO and what they need to really focus on. Author says, CEOs need to focus on how to pass the correct message through out the organization, it’s very vital for company’s success. He compares the situation with Emergency Medical System, where all the team members seem to be on the same page, all the times. The doctors, the paramedics, the nurses, all of them share the same thought when comes to saving a life. The same situation should be there in the organization. Otherwise, the vision and dream of a company will remain in the boardrooms only. Author says, CEOs should not assume that all his top management shares the same thought that leads to disaster. CEO should inspire the organization to take up responsibilities for creating better future.
1) Organization Structure and Hierarchy.
Organization restructure should happen to align with market competition and that should always aim to take up the competition. In this competitive market place, aligning the company structure is the need of hour and CEOs needs to do a better job on communicating the organization changes up to the bottom level. Otherwise it just creates confusion amongst employees about what is the future of the company and who is what in new organization. Communication should be so effective that there should be no room for confusion or fear.
Author gives example of HP and its then boss. He says, when reorganization happened, everyone was so confused about their future that the actual work stopped for 12 weeks, which is one full quarter! Instead, he says, with in 48 hours of announcement of restructure, CEO should have a company wide meeting and a web cast as why this is been done. To keep the confusion to a bottom level, CEO should have involved everyone in the structure plan.
2) Financial Results:
Results are another powerful concept that left unmanaged, poses a risk to a company’s long term health. When a CEO tells, focus on our results, senior managers often interpret that as meaning ‘Do whatever it takes to meet investor expectations’. By loosing the sight of the connection between employee behavior and results and failing to take advantage of existing opportunities, thus leaders miss out building a long term value for their firms.
Results should be used as diagnostic tools in the service of improving future execution.
3) The Leader’s sense of his or her job.
Surrounded by people who seek their feedback and approval, some fall in to the trap of thinking that their responsibility is to be the person who has all the answers. The ‘answer man’ falsely believes himself to be the final arbiter of conflicts, decisions and dilemmas. This puts him in to a very lonely and isolated position.
Effective leaders should understand their role is to get answers from others. Everyone has answers, ask questions, especially when some thing goes wrong.
4) Time Management:
Every executive feels that time is in short supply. CEO must communicate to the company that resource of time must not be squeezed for all it is worth but instead must be strategically utilized. Time is fixed to choose wisely within constraints.
5) Corporate Culture:
Culture is not created by declarations; it derives from expectations focused on winning. Culture that encourages performance if you hire right people and implement processes that will allow the company to win. CEOs who fail to communicate the vision and expectations very clearly, produce meaningless culture.
There is absolutely no use of having Friday parties, cultural programs etc, if this is not done properly.
Thursday, May 04, 2006
LeBron James-Man is the Magic !!
I follow all the major games, MLB, NBA and NFL. And currently, MLB is heating up and NBA is in to playoffs. I am fan of Cleveland Cavs, and they are playing first round series with Washington Wizards.
In the fifth game of this series today, with series is tied 2-2 so far, Washington came back strongly in regulation, but JeBron beat the defence with 3.6 secs to remaining and made a basket. It was a wonderful play!
What really impressed me is about his temper, even the things are on nerves! He kept his cool head and made a perfect basket, with a normal guy in that situation, it would have been a missed basket. But, James is James!!
In the fifth game of this series today, with series is tied 2-2 so far, Washington came back strongly in regulation, but JeBron beat the defence with 3.6 secs to remaining and made a basket. It was a wonderful play!
What really impressed me is about his temper, even the things are on nerves! He kept his cool head and made a perfect basket, with a normal guy in that situation, it would have been a missed basket. But, James is James!!
Wednesday, May 03, 2006
Pramod Mahajan Passes Away
Pramod Mahajan is a well known name in Indian politics; he grew from a common man to an important icon in Indian politics.
But I like Promod Mahajan for non-political reason. I admired his strategic mind and its fare to confess, I learnt how important making strategy in life is, it could be your corporate life or personal life, and strategies certainly come handy. And I generally advocate, 'its better to fail with a strategy then not having one'.
This simple man from a remote village had a master mind, that’s why he was termed as 'Man of All the seasons'. Some of his strategies might have failed ('India Shining-2004'), but he was well known from these kinds of plans.
It’s unfair now to pinpoint his failures and I don't intend to discuss what caused his death. But, this is loss of a strategist.
But I like Promod Mahajan for non-political reason. I admired his strategic mind and its fare to confess, I learnt how important making strategy in life is, it could be your corporate life or personal life, and strategies certainly come handy. And I generally advocate, 'its better to fail with a strategy then not having one'.
This simple man from a remote village had a master mind, that’s why he was termed as 'Man of All the seasons'. Some of his strategies might have failed ('India Shining-2004'), but he was well known from these kinds of plans.
It’s unfair now to pinpoint his failures and I don't intend to discuss what caused his death. But, this is loss of a strategist.
Its 'Son-Time' in Nirma
I was reading a news post about Nirma, where Mr Karsanbhai Patel is moving out of day-t0-day operations of Nirma and giving his sons all the authority. Management has taken a full circle at Nirma.
Nirma is a great success story of a startup. When it started, Mr Patel used to distribute detergent powder all by himself. Nirma was earlier considered as home business, and its growth has been extraordinary. Detergent market in India is attracting more competation, HLL, P&G are well established brands in the world. Getting success agianst all this competation is a great thing.
Nirma story reminds me about one more great start up. Lijjat Papads. Grown from a very modest, home owned business, now lijjat exports best quality papads.
These are truly amazing stories for inspiration.
Nirma is a great success story of a startup. When it started, Mr Patel used to distribute detergent powder all by himself. Nirma was earlier considered as home business, and its growth has been extraordinary. Detergent market in India is attracting more competation, HLL, P&G are well established brands in the world. Getting success agianst all this competation is a great thing.
Nirma story reminds me about one more great start up. Lijjat Papads. Grown from a very modest, home owned business, now lijjat exports best quality papads.
These are truly amazing stories for inspiration.
Tuesday, May 02, 2006
Global Manager
A very good article about who is a global manager.
http://economictimes.indiatimes.com/articleshow/1511792.cms
Managers are not just facilitator, or a guy who forwards the emails. Manager is one who thinks beyond current time and makes team member feel valuable.
I had a very good session about leadership and management in my Business schooling.
http://economictimes.indiatimes.com/articleshow/1511792.cms
Managers are not just facilitator, or a guy who forwards the emails. Manager is one who thinks beyond current time and makes team member feel valuable.
I had a very good session about leadership and management in my Business schooling.
Innovation at Whirlpool
A very good story about how innovation was achived in Whirlpool.
http://www.businessweek.com/magazine/content/06_19/b3983061.htm
http://www.businessweek.com/magazine/content/06_19/b3983061.htm
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