Business
The Smart Manager
The Art Of Giving Back
Ever since its inception in 2000, The Akshaya Patra Foundation has been shaping lives, one meal at a time. Theirs is the world’s largest NGO-run midday meal program, serving wholesome lunch to over 1.6 million children in 13,577 schools across 11 states in India. The Foundation—while fighting the dual challenges of hunger and education—has emerged as a brilliant model in operational excellence, technological innovation, and quality management. This interview offers a glimpse into their functioning and their plans for the future.
5 min |
May - June 2017
The Smart Manager
The New Normal
For over a decade, companies have been urged to ‘digitalize’ or risk getting left behind. The specific technology innovations introduced by the digital revolution such as mobile, apps, ‘the cloud’, big data, and 3D printing are shaking up businesses and organizations. The digital journey has passed a frontier into a land that no longer distinguishes between digital and business, as these are now unavoidably linked. However, in this passage a fracture is being revealed: top corporate leaders across the globe are insufficiently directing the digitalization of their companies. For this category of leaders, more than for the rest of the organization, digital is at best confusing and at worst unclear.To support business leaders—executives and boards alike— in their effort to digitalize, INSEAD, in collaboration with the consultancy ‘this fluid world’, have issued a report, Directing Digitalisation: 11 Guidelines for Boards and Executives. The concepts covered in this report are grouped under three key headings—environmental, organizational, and strategic, which are discussed below in the context of India.
4 min |
May - June 2017
The Smart Manager
Change Tracks
The Ministry of Science and Technology announced it will be investing $749,500 over the next few years…Under a new program, Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS), the Ministry will be providing grants of up to $149,900 to each startup to encourage innovators.* However, free flow of funds alone does not ensure success. Indian startups and SMEs have to bring about radical improvement in costs, quality, service, and other critical avenues to stay ahead of the curve.
5 min |
May - June 2017
The Smart Manager
Where Style Meets Sustainability
The world of fashion is no stranger to radical concepts. One such is for a brand is to market itself as ‘vegan’ and Baggit has found success with this. Founder Nina Lekhi—recognized as one of the most powerful women in Indian business— speaks about how the brand has grown since it was established 26 years ago, its customer service philosophy, and the role of innovation in its growth.
5 min |
March/April 2017
The Smart Manager
How To Make Companies More Sustainable?
In the past year alone, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. Sixty-six percent of consumers say they are willing to pay more for sustainable brands—up from 55% in 2014 and 50% in 2013.1The numbers show how consumers today are looking for products that are good for them as well as society. But we need a transformation in the mindset of every stakeholder in the value chain—brands, consumers, and decision-makers—for an integrated sustainable future.
9 min |
March-April 2016
The Smart Manager
Purposeful Mission, Profitable Opportunities
In his book, Master Opportunity and Make it Big, Richard M Rothman says, “The success of your career, your business, or any other important aspect of your life, is enormously influenced by the opportunities you choose to pursue. In fact, these decisions are among the most important you will ever make in your life. In choosing these, you choose your fate.” Enabling innovation and growth in an organization comes from choosing the right, lucrative opportunities that are compatible with its vision and mission.
5 min |
November - December 2018
The Smart Manager
Power Of Data
When it comes to using data to drive business, organizations such as Google or Facebook are iconic… When they started in 2007, big data was not what it is today. All four Vs that define big data—volume, variety, velocity, and veracity—were at lower levels. But perhaps more importantly, there was not much previous experience of working with big data and using it to drive decision making in organizations. At that time, the question was still out as to whether having all that data is useful. Today, the feeling is that the value of data has been proven, and it’s more of a question of how to get it.1Diligent businesses are those that ensure data privacy and security while leveraging its multiple advantages.
5 min |
November - December 2018
The Smart Manager
Create Not Pools, But An Ocean
Innovation is a relentless pursuit for every successful organization, cutting across geographies and industries. And many are driving disruptions by promoting intrepreneur teams too. Doug Hall argues this is a flawed approach, benefitting only a select few. Innovation needs to operate in a broader realm—one that encompasses all and promises a level playing field.
6 min |
November - December 2018
The Smart Manager
Decode It Right - Myths Busted
‘Leadership’ is a much-misunderstood construct. Dismiss long-held beliefs and approach it differently, opines Chris Lewis, co-author, with Pippa Malmgrem, of The Leadership Lab: Understanding leadership in the 21st century, and founder of LEWIS.
5 min |
November - December 2018
The Smart Manager
Filling The Opportunity Gap
Most experts agree that board diversity needs to change but do not necessarily agree how.
5 min |
November - December 2018
The Smart Manager
Redefining Perspectives
Gaining new insights and upgrading skills are crucial to navigate today’s complex business landscape. It is in this context that executive education programs hold relevance.
3 min |
January/February 2017
The Smart Manager
The Impact Of Coaching In Executive Education
Putting ideas into action!
4 min |
January/February 2017
The Smart Manager
How AI Has Made Tremendous Inroads Into The Realm Of Businesses!
Artificial Intelligence (AI) is an idea that has oscillated through many hype cycles over many years, as scientists and sci-fi visionaries have declared the imminent arrival of thinking machines. But it seems we’re now at an actual tipping point. AI, expert systems, and business intelligence have been with us for decades, but this time the reality almost matches the rhetoric, driven by the exponential growth in technology capabilities (e.g., Moore’s Law), smarter analytics engines, and the surge in data*.A look at how AI has made tremendous inroads into the realm of businesses as well as our everyday lives.
5 min |
November-December 2016
The Smart Manager
Into the Neural Depths
When you asked Siri to look for the nearest restaurant, did you ever wonder how it actually worked? How could it recognize your speech and fulfill the task? The answer lies in ‘deep learning,’ which multinational companies such as Google and Microsoft are heavily investing in.In an exclusive interview with The Smart Manager, Philip M Parker explores the nuances of this technology and how it is increasingly disrupting businesses.
8 min |
November-December 2016
The Smart Manager
Are Bots The Next Frontier In AI?
As an industry, we are on the cusp of a new frontier that pairs the power of natural human language with advanced machine intelligence—Satya Nadella, CEO of Microsoft said at Build 2016.*The recent launch of Google Allo ushers in an age of chatbots, where companies will increasingly rely on AI-based technologies for providing a seamless and personalized customer service experience. Will bot technology be at the forefront of the AI revolution globally?
5 min |
November-December 2016
The Smart Manager
'ATMs Are Poised To Grow More Intelligent In Understanding Customer Needs'
'ATMs Are Poised To Grow More Intelligent In Understanding Customer Needs'
3 min |
September - October 2017
The Smart Manager
The 'Z' Factor
Today’s organizations are already in the process of onboarding Gen Z who are going to make up about 20% of the workforce by 2020. For the first time, three distinct generations working simultaneously. What does this signify for employers?
6 min |
March/April 2017
The Smart Manager
Facing Up To The New Reality
Anti-globalization sentiments have started occupying center stage in the political narrative, of late—signaling a pronounced focus on localization and rejection of seamless trade flows. The Brexit vote and the Trump presidency seem to have added further punch to this counter trend, sparking concern the world over. But will isolationism ever work in an increasingly connected world?
5 min |
March/April 2017
The Smart Manager
Connections Not Cliques
the effective leader: Howard Partridge the community rider: Christine Comaford network perspective: Muniinder K Anand the impact of connection: Chris Dyer
5 min |
March - April 2108
The Smart Manager
Packaged Goodness
Speaking at a conference at Harvard Kennedy School recently, iD Fresh Food cofounder P C Musthafa said, “We build trust by trusting our consumers and went by the policy—if you want someone to trust you, you should first trust them.” With its unwavering focus on quality, the company is busting the myth that packaged foods are unhealthy. That they serve one million idlis a day is a testimony to their customers’ trust in them.
4 min |
March - April 2108
The Smart Manager
Customer Cues
Change Your GameA study carried out by McCarthy Group showed that close to 84% of millennials do not trust traditional advertisements. Further, another study by Fractl and Moz showed that they consider ads to be disruptive and close to 63% of them block advertisements. They have an average attention span of eight seconds.* This implies that marketers have a very small window to send their message across. So how can a brand best engage with them?
4 min |
March - April 2108
The Smart Manager
Customer Engagement
To deal with the demand for tailored one-to-one customer/company conversations, businesses are using AI. By 2020, Gartner predicts that 85% of customer interactions will be handled this way.* Increasingly, companies are experimenting new ways to engage their customers. The crux lies in understanding the demands of the more empowered and knowledgeable customer.
4 min |
March - April 2108
The Smart Manager
'Repeat' Value
“Companies that do a very good job of retaining their customers and developing the value of everybody over time should be awarded a much higher multiple than another business that does not retain their customers as well, even if the historical revenue patterns look exactly the same.”* This makes a case for businesses to focus on retaining their existing customers through innovative practices.
4 min |
March - April 2108
The Smart Manager
Driving Innovation
The US Patent and Trademark Office describes innovation as “…a word that touches every facet of our everyday culture from business to science and even the arts. Innovation is often associated with creating new things or ideas and includes improving upon old ones too. Businesses around the world have a great need to continuously innovate to stay competitive in the global marketplace and to bring consumers the latest and greatest products and services. But innovation is not defined by just a single event or even a single brilliant idea. Innovation is truly about a process, a series of steps that begins with human imagination and creativity and results in the creation of something of value for society to enjoy.”*
7 min |
March - April 2108
The Smart Manager
Rock The Boat
Thomas Edison rightly said, “Genius is one percent inspiration, ninety-nine percent perspiration.” Ideas are simply solutions to problems. Its execution can spark change, and within an organization, it can lead to progress.
8 min |
March - April 2108
The Smart Manager
Why People Buy
When you begin a conversation with a prospect, you start by building bonding and rapport. With this connection established, you can move toward the Pain Step by establishing an up-front contract with the prospect. Among other things, the up-front contract dictates that you both are committing to a certain amount of time to go over his agenda as well as yours.
4 min |
March - April 2108
The Smart Manager
How To Keep Toxicity At Bay?
In their book, Toxic Workplace!, Mitchell Kusy and Elizabeth Holloway define toxic personality as “anyone who demonstrates a pattern of counter productive, work behaviour that debilitate individuals, teams, and even organizations over the long term.” Harboring negative feelings could prove detrimental to not just others. It could linger within and ruin you, even without your knowledge.
4 min |
September - October 2018
The Smart Manager
‘Leaders' Of A Different Kind
At an organizational level, in a sense, millennials are change-makers. While not taking the expected course, they demand a relook at many aspects, hitherto considered beyond the scope of change. For instance, they bring home the fact that impactful leadership, in no context, can operate within a command and control paradigm; it has to be democratic, and involve guiding, coaching, supporting, and facilitating.
7 min |
September - October 2018
The Smart Manager
One Small Step, One Big Change
The image of women being caught in a stifled existence does not come as a surprise to most of us. In many cultures, they continue to be the less privileged, their basic needs unaddressed, and their ambitions and goals put on the back burner. What can effect a transformation? Where does one start? Perhaps, with an individual or a small group, and then replicate the success on a larger canvas.
6 min |
September - October 2018
The Smart Manager
How To Manage Conflicts?
Kenneth Kaye, American psychologist, said, “Conflict is neither good nor bad. Properly managed, it is absolutely vital.” Organizations should identify, understand, and develop effective resolutions to workplace conflicts lest it creates a stressed working atmosphere and hinders productivity.
7 min |