The BSE is in the midst of developing a brand book that takes its employees closer to the BSE brand.
That apart, the stock exchange is also planning a museum in its landmark South Mumbai building that will showcase the history of Indian capital markets. Even the main entrance of the building will be spruced up over the next four months.
All these initiatives are towards building the BSE brand and increasing involvement among the employees and other stakeholders, such as intermediaries and the general public. "It is crucial for an established and legacy brand to reinvent," said the BSE executives.
In the past, the BSE has taken brand-building to the families of its employees. Its annual calendar in 2006, for instance, carries paintings done by the children of its employees. The paintings were selected after a competition. This is being repeated for the second year in succession, albeit with a different theme.
The first draft of the brand book, which is designed by the brand consultancy, Chlorophyll, has already been shown to the BSE executives for a review. The final version is expected to be out by the end of the year.
Rajnikant Patel, chief executive of the BSE, said the brand book is another initiative by the 132-year-old stock exchange to put the individual (employees) at the centre of the brand.
He said, "The book is expected to drive brand loyalty, guide employees to relate to the brand and help them imbibe brand values." The company believes this will promote better service levels and reflect in the BSE's customer promise, 'The edge is efficiency'.
On the museum plans, Patel said it is important to disseminate the immense knowledge that the stock exchange has gained over a century of its existence. "A good knowledge base is very critical. It brings a higher level of participation from employees," he said.
Patel added that it is more important to sell the brand internally rather than go for a high-voltage advertising blitz. "We would build the brand with an understated elegance, rather than go overboard," he said.
According to Patel, the BSE's brand-building initiatives are a "part of human capital development, not just enterprise development".
Simply put, if the branding initiatives motivate employees to offer higher levels of service, it will reflect on the brand fortunes. Towards repackaging the BSE brand, the executives claimed that the exchange plans open office seating systems and now boasts of a trendy cafe to push the message through that its employees are equal.
