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Thursday, July 31, 2008

The Bullion Bull!


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The market dynamics and the love for Gold indicate that the golden days are here to stay...


You can blame it on the geo-political turmoil, struggling dollar, soaring global crude prices, concerns over the US recession, Fed rate cuts, troublesome inflation, global economic woes et al but the ‘historical anomaly’ of surging gold prices has definitely made a comeback. While the choppy ride at the bourses saw investors suffer some great loses last week, gold prices were busy hovering over $1,000 an ounce (before sliding down this week). Given the fact that the equity markets are underperforming, bonds and fixed deposits are giving negative returns (taking inflation into account) an investor is bound to head to safer havens. What else than gold could find a resting abode to those wary band of investors?! Swapnil Pawar (Director, Park Financial Advisors) avers, “Gold is a very good investment option now. It is considered a safe haven in times of crises like now. It is a better store of value than any specific currency and even debt instruments.” Sounds logical, as the class of investment has bucked the trend of seasonal variations and has outperformed peers. And if there is a further slump in the stock prices it could probably take profit booking in gold to next levels.

“Gold can always form a part of one’s investment allocation. This is because gold historically has been seen to have negative co-relations with other asset classes like equity and even the US dollar. So typically if equities go down, gold could go up and hence if your investment basket is diversified and includes gold, your downside will be protected,” Krishnan Sitaraman, Head, Fund Services & Fixed Income Research, CRISIL, futher supports the reason. But with the bullion prices scorching at record highs and the purchases of the yellow metal apparently drying up is it still a viable option? “Gold is due for some short term correction. We see gold correcting to levels of $875-850 by May, 2008, which are very attractive levels to go long. By July ‘08 one can see a bounce back in the prices of gold and by year end gold is expected to trade at $1,200 levels,” avers Pritam Patnaik, Associate V P, Kotak Commodities. “Though it’s difficult to predict but another 10-15% increase in dollar terms is not ruled out,” adds Swapnil. And in this scenario, gold exchange traded fund (GETF) also called ‘paper gold’ seems to be an attractive investment option.

GETFs listed on the stock exchanges offers the investors’ exposure in the underlying commodity without taking the physical delivery. Add to it the fact that ETFs do not feel the pinch of the tanking markets as they are not benchmarked against the equity market index. To put things into perspective; while the Sensex has lost more than 27% in the last three month, Benchmark AMC (the first one to launch GETF) have given a return of 36% (compound annualised)and over 28% in the last three months.

Moreover, there are several other reasons as to why gold should form an integral part of one’s portfolio (be it in the physical form or the dematerialised form); the first and foremost being the ease of trade, an investor can take the advantage of the soaring gold prices through a demat account without bothering about the nuances of transportation, security, purity, insurance et al. Well, the added benefit in the form of tax advantage (no wealth tax, no securities transaction tax) and the ease of purchasing (of course selling as well) in small denominations are always there to make the deal all the more lucrative.

Gyanendra Kashyap

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

Read these article :-
ZEE BUSINESS BEST B SCHOOL SURVEY
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global
The Indian Institute of Planning and Management (IIPM)
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Tuesday, July 22, 2008

Vatika Group

Vatika Group

Investor: Wachovia Bank, Baer Capital & GS

Investment Value: $250 mn

Sharad Jhingan, CFO, Vatika Group told 4Ps B&M, “The major rationale for this deal for Vatika Group was indeed the capital. Apart from that there are many advantages that any company can have by tying up with good partners for their business and accepting funding by an international or multinational investors and the same accrue to Vatika as well. For any company like Vatika, you get a lot of global practices migrating into the corporate governance and after some time one can build a robust Corporate governance model. The set of investors that one get are not passive investor but active investors, which play a role in the decision making process. Everything that you do is scrutinised and you need to justify your action. This leads to a whole lot of transparency creeping into the organisation. If you plan to get listed, then the big metamorphosis is taking place rapidly. Your equity increases, your valuation improves, the worth of company is now established as you have foreign investors. All this helps you to leverage more and borrow more and grow more. From an old company, which was seen as very small you become very large and people accept you as very large. We see this relationship as a win-win situation for all the parties as we are partners in progression.”

Vatika Group has witnessed three big institutional investors, which have poured in funds to the tune of $250 million. The net worth of the Vatika Group’s real estate business was estimated at Rs.8,000 crores when this deal was struck. According to the company, these funds would help the company in its existing projects and also assist in consolidation of land banks that would help in acquiring new projects. Vatika is also evaluating plans to enter the stock market through an IPO but they are awaiting the right time.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM, GURGAON
IIPM - Admission Procedure
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!



Saturday, July 19, 2008

Airtel breaks barriers!


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Communication knows no boundaries for Airtel that goes on a Moroccan caravan...

Switch on your TV screens and what do you see? A Moroccan boy crosses the Line of Control (LoC) to play with the boy standing across the barbed wire fence (probably from the neighbouring country). No need to guess, for this Airtel ad has successfuly broken the clutter and has registered itself deep in our minds. Such is the universal appeal that the ad instantly touches a deep chord within your soul. The aim of the new thematic ad is to move away from ‘Express Yourself’ brand premise to the new one of ‘Barriers Break When People Talk’. Amitesh Rao, National Business Head (Airtel), Rediffusion DY&R, narrates the idea behind the concept as he says, “There are special and very personal moments of magic in every relationship. Airtel helps in creating and sharing these moments, irrespective of the physical distances.” Using the two young lads as its props, this ad bridges the gap between the boundaries of two neighbouring nations in a beautiful manner.

Incidentally the first preference of the creative guys was to showcase an action-packed football match between the Indian & Pakistani soldiers at the Wagah Border, but realising that the storyboard would have been very stereotypical, it was changed. In fact the ad was shot in four days on the African soils of Morocco by Prakash Varma of Nirvana Films. To interest you further, the two local lads whom you see delivering a brilliant performance on screen had never faced a camera in their lifetime and were selected just for the sake of authenticity. They were even kept uniformed about the rolling cameras, so as to capture their natural expressions and actions. Here’s a little juicy tidbit for you! The house and the barbed wire fence were merely sets and not a shot from a real-life war area. Furthermore, the idea was to make the concept more universal and human – one that appeals to the regular people (the vast service users). “Network is an area of strength for Airtel so we needed to push the bar higher,” says Rao.

The reason behind this corporate ad, depicting a war-torn territory is not only to promote the telecom giant in the Indian market but goes beyond the ordinary – socially awakening the Indians too, without hurting the sentiments of any sect.

Apart from K. S. Chakravarty aka Chax, ex National Creative Director, Rediffusion DY&R, there were three more creative minds – Ajay Gahlaut, Abhinav Pratiman and Daniel Upputuru – involved in producing this master piece. The campaign has been succesful in using these two naive boys – oblivious that they are in a war-zone & free from any kind of prejudices – understand only one thing that barriers are broken when you talk – communication barriers and, subsequently, the borders of the two warring countries.

Edit bureau: Romsha Singh

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global
The Indian Institute of Planning and Management (IIPM)
IIPM Campus


Saturday, July 12, 2008

Back to the future?!


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History was rough on it. And present?!?

Remember ‘Peerless’? Sure, you might have heard its name only too rarely, but then again, our previous generation would testify that this residuary non-banking company (RNBC) during the early 1980s made its way up fortune’s ladder, and then vanished... even faster, phew!

However, what’s heartening is that it’s still there, continuously eyeing many battlefields since it almost lost the great survival war – from hotels to securities – in search of a viable alternative to regain some lost glory. However, it’s far from doing so at the present. But then, in the horizon appears a beacon – it’s asset management business, which aims to bring about a major change in its business as Dipankar Basu, Chairman, Peerless confidently asserts, “This will add ‘scale and depth’ to the company’s operations.” No doubt, it’s a sector which holds a lot of promises, but let’s also not forget that there is a cut-throat competition out there as according to AMFI, there were 32 players managing about Rs.46 trillion as on August 31, 2007. This coupled with a highly volatile stock market only makes the situtation riskier for Peerless. But then, does it have any an alterntive? Not really...

True it is, for despite having a wide range of products, Peerless’ RNBC business alone would not be enough to sustain its growth, courtesy government regulations. It definitely needs to build strong its asset-management business, instead of diversifying blindly. Moreover, unlike new entrants, it can of course take advantage of its existent brand equity.


4Ps edit bureau: Manish Pandey

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
IIPM, GURGAON
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!


Friday, July 11, 2008

Crashes, burns and the ride to 20,000


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Markets recuperate and brace themselves up for another rally

18,000, Markets recuperate and brace19,000, 20,000! Where’s the every buzz gone? The 60 second bloodbath (between 9:55 am to 9:56 am the Sensex lost about 1,700 points) at the bourses on October 17, 2007 saw the largest fall in a single day ever witnessed in the history of the Indian stock markets as the Sensex plummeted by 1,743 points, and with it sank all the noise about Sensex scaling new heights.

There was an apparent breakdown; the pulse on Dalal Street was sinking, the market was in a standstill for almost an hour. Thanks to the soothing statement made by the Finance Minister, P. Chidambaram, “We are not in favour of banning participatory notes; we have not banned them, we have simply placed a cap on the proportion of money coming through participatory notes vis-à-vis overall assets,” which inflicted some life into the markets. Since then the recovery, marked by a record single day gain of 869 points on October 23, 2007, has been robust and seems to be fuelling the euphoria of 20,000 once again.

“The market is gradually recovering and by the time Diwali comes we expect the market to touch the 20K mark,” exclaimed Deepak Sharma, Analyst, Anand Rathi Securities while talking to 4Ps B&M. Amidst such a tumultuous run; few analysts did advise retail investors to remain cautious and invest carefully to gain from the soaring/sinking markets, while others were quick enough to claim that the crash was on expected lines and they are still optimistic about the BSE Sensex scaling newer highs. “In the last few days, we have witnessed few hiccups in the market, this will take some time to settle down and we expect the market to end on a positive note by the year end. In all probability by the year end the market will cross the 20K mark,” assures F. A. Sarkar, Analyst, Sharekhan, while talking to 4Ps B&M. Satish Kannav, Technical Analyst, Arihant Capital Markets, shares his views with 4Ps B&M, “We expect the market to range bound 20-21K around Diwali time. Around the same time, we might see rest of the FIIs who haven’t yet offloaded their PN accounts to do the same. Moreover, once the Q2 results for all the major companies are out the picture will be a lot clearer.”

Well, after such rosy estimates, it would be perceived as an act of a Devil’s Advocate to think otherwise. But then risks do exist and a prudent investor should always take everything into consideration. It might not be a cake-walk for the markets and investors should be aware of this fact. “Retail investors should be very careful during these times of high momentum or a “fast moving bus” as we have seen the market has run up too fast & too soon. Oil prices are at a record high and so are other commodities including foodgrains. So, as long as inflationary risks are on the horizon, interest rate risks can not be ruled out. Moreover, domestic political situation remains in a flux,” points out Sachchidanand Shukla, Economist, Enam Securities Pvt. Ltd.,to 4Ps B&M.

Sensex crossing the 20,000 mark seems to be very much on the cards, but ruling out the chances of further turbulence might not be a prudent thing to do.

Edit bureau: Gyanendra Kashyap

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM, GURGAON
IIPM - Admission Procedure
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!


Wednesday, July 09, 2008

Ahoy! Captain’s here!


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THOMAS ENDERS, PRESIDENT & CEO, AIRBUS INDUSTRIE

Confident & courageous, with a dream to make Airbus successful, Enders has stepped right into the cockpit. And he’s in good control!

RecallTHOMAS ENDERS, PRESIDENT & CEO, AIRBUS INDUSTRIE the Hollywood flick ‘Independence Day’ where the American President stands by his people till the end, against all odds, facing the alien attack. No, we’re not talking of a Hollywood success story here, but something more real. And don’t worry, there’re no aliens here. Airbus Industrie, the European aircraft manufacturing giant is, unfortunately, in a similar desperate situation, thus making an apt testing ground for any CEO who believes in ‘turnaround’ tales! Five CEOs in the past two years, delivery postponements of a year and aggrieved shareholders who’re craving to hear one piece of good news – that’s the atmosphere in Airbus at the moment. And the man who steps in the cockpit is Thomas Enders, the new CEO & President of Airbus Industrie. ‘Fly it until the last piece stops moving’ is what this man believes in and despite loads of criticisms, this man displays the grit and determination that any board of management would desire in its top leader. And the smile?! Well, it’s there on his face, perpetually! Enders seems to be that man whom Airbus was looking for. So finally, this fifth pilot seems to be in total control of the Airbus flight.

A German by origin, dressed smartly, with no tinge of Nazi arrogance in him, Enders humbly answered all questions shot at him... And just as we could not help but ask him whether he can foresee his exit soon, he just smiled! With confidence, he asserted, “Yes, it’s very challenging. But at the same time, I know that I am young enough to tackle such challenges. I am not going to leave soon; and you are going to see me around at the helm for atleast another 10 years. There’s much to do for me in Airbus.” That was impressive indeed and in a single statement, he said what many speeches would find difficult to put across. Having cooperation and partnerships with major companies worldwide, Enders predicts a bright future for Airbus in many countries, with new aircrafts, including Asia, and an increased focus on growing markets like India & China.

‘Don’t depend on your foes to commit a mistake, to gain one up on them...’ is what you might have heard people say, but here’s a man who actually follows it! When asked about the delivery delay in Boeing’s Dreamliner 787 range, Enders shared a piece of wisdom, “I am too new to comment on such delays of other companies but as a leader I can say the delay in deliveries of competitors do not disturb our strategy. We believe in deciding our own strategy depending on the need of the market.” True enough, Airbus secured orders and letter of intent for 290 Airbus aircrafts at the five day Dubai Air Show which commenced on November 11, 2007, amounting to about $60 billion! Airbus being a more commercially oriented aircraft manufacturer, did face a little setback due to the cancellations related to the delays in delivery of the A380 (estimated to be about $2.1 billion). But Enders modestly agrees that the delays in deliveries “did have an impact but it was not strong enough.” He also claims that “Airbus has come out with mind blowing aircrafts to sustain its clients.” He proudly adds that, “Our modern and comprehensive product line, along with our easy handling characteristics, makes us stand ahead in competition....” Throwing light on the intensifying rivalry between Airbus and Boeing, Enders seemed composed as he explained his strategy in a straight in India, he finds a lot of movement here as he confirms, “Optimism is very striking to me. We come from ‘old’ Europe where people are sometimes a bit pessimistic and see the negative things but here people are a lot into business. The future is bright. It can only get better with the ‘can do’ spirit.” He feels that if Airbus can deliver what its clients desire, it can “in that case, be a very successful and profitable company.”

Calling himself focused, Enders believes in the kind of ‘participative’ leadership that believes in teams; the one that is able to motivate people by setting clear targets, as he asserts, “We had a difficult time at Airbus recently, a lot of problems, and we lost a lot of money. There was a lot of frustration in all of us, so we decided that it was time to introduce ‘a can do’ spirit amongst our people.” With a global team of 56,000, he looks set to fly over paths where many past Airbus captains failed to tread.... Ten years, Captain; and we’re willing to wait... for we know, some things are worth the wait. Your promise is!
Romsha Singh

Tuesday, July 08, 2008

Future Perfect?


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Being the first mover is not enough, one has to constantly innovate to remain relevant. Kishore Biyani swears by this...

“Whenever you enter Pantaloon or Big Bazaar, the first thing that attracts you is their sprawling display. Many in India are now copying Biyani’s ideas. His value for money proposition has worked wonders,” avers Aninda Datta, Financial Manager, Seagram India. And he’s not merely sermonising. We actually met and spoke with him, even as he was shopping in one of the many Pantaloon stores in Delhi. Aninda has seemingly read and re-read Biyani’s life story, as laid out in his book It happened in India; the impact is obvious in Aninda’s almost reverential awe of Biyani’s middle class roots. “Coming from a modest family Biyani understands the price-consious consumer and that’s his flank against the giants,” he says.

You too may have read Biyani’s straight from the heart diatribe (his autobiography) or you may be lining up (with obvious fatigue) to buy groceries at Big Bazaar every month or simply have logged on at futurebazaar.com to avail the lowest prices everyday. Truth is that this fashion to food desi retailer simply cannot be ignored. Sure, a host of biggies have entered the retail space recently, including the Ambanis, Tatas and several of their ilk, but early bird Biyani, is the one reaping benefits of this unprecendented expansion. The retail king admits that his group’s core competency lies in knowing the Indian customer. “Addressing their needs and wants, we have nurtured a long-term relationship with consumers. I think that that’s how we have gradually become one of the admired companies in India,” Biyani told 4Ps B&M.

Tall words these, especially coming from a man who is only now being exposed to a virtual cornucopia of competant competition. But one look at Biyani’s competition-warding strategies over the last one year and you realise that this man is no humble simpleton. In 2007, Biyani added oodles of innovation to his retail ventures. There’s the gigantic 125,000 square feet store in NCR – ‘HomeTown’ – that has ushered in a unique “home making” retail initiative by the group. Then again, he made an ambitious foray into financial services under the banner of ‘Future Capital’ – with a bid to extend credit facilities to consumers, a first by any retailer.

“If you have to survive in the retail industry you have to address all needs of consumers. The more needs you cater to, more you are ahead of competition,” explains Damodar Mall, President-Food Business Division of Pantaloon Retail India Ltd (PRIL), the flagship company of Future Group. Certainly not a hollow boast! The Big Boys of retail, at least for now, are trailing trends set by Future Group. More recently, Reliance Retail is reportedly trying out the Future Capital model, to provide end-to-end services to consumers. Not to be left out from cashing-in on the ‘private labels’ business, Biyani has roped in ace marketer Santosh Desai to create a slew of brands from fashion to consumer durables. The initiative, called Future Brands, is slated to become the next big revenue earner for Future Group.


What’s more, while Mukesh Ambani’s big budget grocery retailing dream is facing stiff opposition from the trader lobbies, Biyani’s slow and steady approach with his Food Bazaar, is instead proving to be a torch bearer in the segment. Biyani test-marketed the concept for five years (under the Big Bazaar banner) and only recently has begun rolling out stand alone Food Bazaar outlets. “Its slow & comparatively small investment policy in the initial phase, has made PRIL win its stake holders and specially investors trust,” feels Gibson G Vedamani, CEO, Retailers Association of India. The group plans to roll out 8 such stores (at the rate of Rs.20crore each) across the country and is targeting a revenue of Rs.300 crore in the first year of operations. KPMG extrapolates that food retailing will grow at 9.2% for the next five years against a total GDP growth rate of 7%. At a time when the world’s largest retailer Wal-Mart is all set to prop up its first store in food retailing in India by 2008, Biyani’s overtures have come at the right time. The company may also launch its IPO in 2008 (now only PRIL is listed), and India’s retail rajah is all set to take the retail mart by surprise.

There’s more! Future Group is planning to set up 1,500 new format fair price shops, which the management claims will be selling the leading brands (over 300 products), almost 10% cheaper than the market price. Even local brands will find favour at these outlets, purportedly selling at a 20% discount. Are the Subhiksha’s and the Wal-Mart’s ready for this fresh Biyani onslaught?


Written by Angshuman Paul, with inputs from Ratanlal Bhagat

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
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Saturday, July 05, 2008

With its pioneering Reverse Osmosis technology, Kent RO Sytems marches ahead in a purified way...


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She still has the power to charm millions. And when this age-old beauty comes on the screen flanked by her two sensual daughters, millions of heart start fluttering. Any guesses? We’re talking about ‘Dream girl’ Hema Malini and her daughters Esha & Ahana, looking gorgeous while endorsing Kent Mineral RO Systems, a major player in the Rs.700 crore water-purifying sector. A challenger to market leader, Aquaguard from Eureka Forbes, the brand was launched in 1995 by an IITian Mahesh Gupta. Positioned as a premium brand, the company through its pioneering Reverse Osmosis (RO) technology hasbeen successful in breaking the barrier of the generic ‘Aquaguard’ water purifier.

Speaking to 4Ps B&M, Mahesh Gupta, Managing Director, Kent RO Systems, says, “We’d to go through a process of educating the customers, stating that we’ve a product that has superior technology.” Kent RO water purifier was declared the ‘Best Domestic Water Purifier’ for 2006-07 by UNESCO, in association with water digest. It also bagged the ‘Golden Peacock Eco Innovation Award 2007’ in the healthcare and FMCG segment.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
IIPM, GURGAON
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!


Friday, July 04, 2008

Pamela Mountbatten Hicks’ marketing funda...


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It Archana Dalmiya, Convener, Grievances Cell, AICCis amusing how we, as a nation, love to sit in judgment. Judgement on people, their actions, their choices, with nary a thought for the complete picture or the circumstances that may have been. This self proclaimed righteousness has turned us into a laughing stock, sometimes arousing head shaking disbelief and even disgust in right thinking individuals.

I am not exaggerating. This low tolerance of individuality has flamed passions beyond belief and many lives have been lost in sheer hatred. Don’t believe me? Pick up any newspaper and there is bound to be a story of how a couple were either lynched or burnt alive or sent to their graves in worse ways simply because they refused to comply with the diktats of medieval thought. Armies of hooligans or “keepers of society” harass anyone at will. Moral policing abounds. We’ve become a nation of peeping toms. Gossip rules and we chomp on juicy titbits at parties till the next one arrives.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
IIPM, GURGAON
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!



Thursday, July 03, 2008

Complete from a technology innovator to a technology developer.


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And while the fiscal gone by played a big role in Moser Baer’s diversification initiatives, the company also consolidated its leadership position in the global optical media industry. It became the first in the world to market next generation HD DVD media; developed its own unique technology for Blu-ray formats; besides acquiring OM&T (a former R&D subsidiary of Philips BV); making its transition complete from a technology innovator to a technology developer.

However, there is a multi-billion dollar question that begs an answer. A presence in multiple businesses having high growth and return on invested capital would surely reflect negatively on Moser Baer’s profitability (at least till the returns start flowing in). Plus there is the added question of how would the huge funding requirements be met? As all these new businesses are in investment phase, a large investment of funds is required to turn these emerging stars into cash cows. All this, is likely to create a burden on the company’s balance sheet if not managed properly, amid global pricing pressures.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
IIPM, GURGAON
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!