mjunction services, one of the largest e-commerce companies promoted by Steel Authority of India and Tata Steel, has shelved its initial public offering plan after Tata Steel indicated it would back the management team for its future expansion plans.
The corollary of a bailout is government say in management.
Sony Entertainment Television India, Nick India and Sony Pix are looking beyond television for revenue. They plan to improve their respective websites to build a community of online users in order to attract online advertisements. They are looking at the mobile platform for ringtone, wallpaper and games downloads.
The recession is beginning to affect final placements at premier B-schools and IITs. Recruiters are maintaining last year's salary levels.
At a time when most B-schools are slashing annual festival budgets because corporate sponsorships are drying up, IIM Calcutta (IIM-C) has increased its budget by nearly 20 per cent for its four festivals this year.
Indian retailers are an optimistic lot when it comes to deciding on expansion plans for 2009. Retailers such as Spencer's Retail, Future Group, Shoppers Stop, Westside, Wills Lifestyle, Bata India, and Raymond find the 30-40 per cent drop in retail rentals a reason to cheer.
Spencer's Retail, the retail arm of RPG Group, says it has seen a 30-40 per cent decline in the rentals in Tier-II and -III cities. In Tier-I and metropolitan cities, the correction is in the range of 15-20 per cent, and a further correction and its impact is likely to come in the next few months.
According to Jagat M Sarkar, head of HR, e-Rev Max, a product company which has its main development centre in Kolkata and presence in 60 countries, "In the given scenario, there will be increased focus on getting quality manpower. Salary hikes too would be hit. Those on the bench and non-performers are jittery too as companies plan on pink slips.
Information technology employees and fresh graduates in Kolkata have started to see salary cuts and employee lay offs.
Xerox India Managing Director Andrew Horne said, 'In the current uncertain economic environment, every company is looking at how it can improve operational efficiency... We are amalgamating some roles. In all, 24 roles are disappearing. The decision on timing has been accelerated by pressures caused by the challenging business environment.'
Wills Lifestyle has lined up new marketing strategies and product launches, targeting the womenswear segment in an attempt to double revenues from this burgeoning category. According to Atul Chand, divisional chief executive of Wills Lifestyle, womenswear currently contributes 35-40 per cent to the turnover, which the company intends to take to 50-60 per cent soon.
In a state in which the "demonstration effect" of industrialisation is thin on the ground it is not surprising that unemployed, educated youth and dispossessed farmers facing the insecurity of limited employment options flock to her support.
According to a CLSA Asia Pacific Markets report, the e-learning market is projected to grow to around Rs 1,100 crore (Rs 11 billion) by 2012 from 145 crore (Rs 1.45 billion) currently. Besides, online modules cost one-tenth that of a regular course. The worldwide market for online tutoring is estimated to be in the region of Rs 46,800 crore (Rs 486 billion). India now earns around Rs 60 crore per year from online tutoring or 10 per cent of the total market share.
One possible result of these global impulses by entrepreneurs in the world's two largest economies might be a change in the way the world does business.
In Globality*, authors Harold L Sirkin, James W Hemerling and Arindam K Bhattacharya from Boston Consulting Group, show how, over the past two decades, a range of corporations from the developing world have begun to disrupt traditional paradigm of development and tilted the balance of competition in their favour with their predilection for 'rapid-fire innovation'.
It's a blessing in disguise, of sorts. Indian companies, which had to face a huge attrition problem over the last few years, can finally breathe easy. HR analysts said the economic slowdown is expected to reduce the attrition rates across industries, at least for the next two quarters.
The ideological distance between people like him and the Left parties that espouse his cause is wider than the circumference of the earth.
Spencer's Retail, the Rs 800-crore retail arm of the RPG Group, will expand its range of fashion merchandise with the launch of private labels as well as foreign apparel brands, in an attempt to revamp its image as a fashion-centric brand instead of just a food retail chain.
In markets like India where demand for a range of goods and services still outstrips supply, readers will readily be able to identify the disconnect between a CEO's reputation, the company's performance and the quality of customer service. There are, for instance, successful banks that deliver stunningly indifferent service even though their CEOs are stars on the corporate firmament.
Shah Rukh Khan, the owner of Kolkata Knight Riders, is more popular in Kolkata than the KKR captain Sourav Ganguly, revealed the Reebok showrooms in Kolkata as well as the shops selling spurious KKR merchandise in the New Market area in central Kolkata.
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