by Rajen KumarIndia's Manufacturing Muddle
What holds Indias manufacturing sector at the back foot? Why the sector has failed to emerge from the shadow of a strong service sector which has recorded a creditable growth in the...
Special ReportsMar 2014
When you have just decided to go ahead and chase your dream of higher studies, the one you had sidelined for quite some time now, you realize the road ahead is not so...
Integrated Urban Water Management and the SMEs
Current models of urban planning and water management are exceedingly proving insufficient from the perspective of cost effectiveness, technical performance, social equity, and environmental sustainability.
Fan Merchandise at a Click
Bluegape.com is Indias Biggest Fan Merchandise Store which provides a platform where one can locate and access merchandise of all the brands, irrespective of who is your favorite. You may be a fan of your college basket ball team, a rock band that you listened at your last college fest or clean politics. You can own tshirts, posters, cushions, laptop skins, mugs etc of your favorite brand.
Critical Success Factors for Large Digitization
Large scale digitization of documents involved in the core business processes is, one of the key organizational requirements for Financial Institutions FIs. Modern Banking and Financial Institutions have achieved Transformational results through the power of digitization by gaining speed of response, adhering to compliance mandates such as KYC, margin protection and ability to scale up the operations by supporting high volumes of transactions. For modern FIs today, Digitization is of vital importance for creating a cost effective route to differentiation.
Indian Companies Building Local Tech Capability in Africa
India being the fourth largest trade partner with Africa, behind China, EU and the US, the business between the two geographies is only bound to increase. As of 2011 12, the volume of bilateral trade between India and Africa is around USD 50 billion and expected to touch USD 90 billion by 2015.
Individuals and Organisations: Who work for Whom
The other day one of our friends seeing me spending more time at the university department commented Is University giving you some more salary. I responded to his comment to the best of my ability and as per my personal thinking on work.
Climate Change Adaptation and SMEs
The adverse impact of climate change can be tackled through two main policy responses mitigation and adaptation. Mitigation addresses the root causes, by reducing greenhouse gas emissions, while adaptation seeks to reduce the risks posed by the consequences of climatic changes. Broadly speaking, both approaches are essential, because even if emissions are dramatically decreased in the next decade, adaptation will still be required to deal with the global changes that have already been set in motion.
MSME in India – Neglected and Marginalized
Oogwave: Work on the Go
Oogwave is all about helping business work faster, easier and better. It encourages a new way of working and a shift away from using email as the main channel of sharing, discussion and collaboration within a company.
Welcome to the Hi-Tech world of HR!
Clay Craft India plans to set up a Skill Development Center
Indias fastest growing manufacturer and retailer of bone china and ceramic tableware, Clay Craft India plans to set up a Skill Development Center at Ringus, Rajasthan to meet the skilled labor shortage in the industry.
Inflating Capacity and Deflating Total Cost of Ownership
How SMEs Can Best Optimise Digital Printing Tools
To be fair to Chadha, he cannot very well be expected to spend time and manpower both invaluable resources for a small business owner on seemingly trivial items like branded stationary, communication tools like banners, or even corporate gifting.
Guidebook for Family Managed Businesses
Religare Finvest Limited a subsidiary of Religare Enterprises Limited is a Small and Medium Enterprise financing focused NBFC. They have launched Mantras to W.I.N, a guidebook on Family Managed Businesses in association with the Entrepreneurship Development Institute of India. With a wide network of branches and ISO certification 9001:2008, RFL is committed to providing debt capital to power the growth of the SMEs which constitute as the backbone of Indias economy.
Its First Gifting Store at Mehar Chand
After the successful launch of the flagship store, the brand has announced the launch of its first 1500 sq.ft gifting store at Mehar Chand Market, Lodhi Road. Catering to the different tastes of different connoisseurs, the furniture and décor items are divided into 6 definitive moods namely Art Deco, Vintage, Organic, Glamour, India and World.
New Way of Recruitment and Image Building
It is quite intriguing that in todays economy, job matching still remains a big concern for most countries. A lot of people are in constant search of work and on the other hand, companies are struggling to find the right employees. Large companies and corporations allocate huge budgets to build their image as a recognized employer.
Focusing on Organizational Happiness: A Winning Strategy for Sustaining
The existence of organization, big or small, state owned or privately owned, profit making or non profit making, is initiated with some purpose in mind and in that direction objectives are outlined. The organizational activities are designed and the task to perform those activities is assigned to the employees or workers as the case may be. The performance is evaluated from the perspective of organizational objectives.
Managing the bottom-line: Energy Efficiency Measures for SMEs
Small and Medium Enterprises SMEs operate within a tight boundary of cost. Their nature of business is such that any cost escalation can derail growth prospects and may cause potential loss to the SMEs. Current market scenario requires SMEs to be even more cost sensitive as the business prospects are not very attractive and growing gloomier with passing of days. In view of this, SMEs need to work on various cost optimization measures. One such area where SMEs can work to rationalize cost is energy cost.
Delayed Payment Regulation
Amongst many anxieties, the number one for any MICRO or Small Enterprise is too late receipts of payments from their Buyers who are mostly large industries or Govt. Semi Govt. organizations. To extend a helping hand to them specific provisions are being made under the MSMED Act, 2006. Though there are diverse views on these provisions, as a MICRO or Small Enterprise, one must know what these provisions are being their legal right. This is also a guide to the Buyers to formulate the payment system accordingly.
SMEs – An Engine for Economic Growth
SMEs now termed as Micro Small and Medium Enterprises MSMEs after the notification of MSMED Act in 2006 form the backbone of the Indian manufacturing sector and have become engine of economic growth in India. Small industry has been one of the major planks of Indias economic development strategy since Independence. India accorded high priority to Micro Small and Medium Enterprises MSMEs from the very beginning and pursued support policies to make these enterprises viable and vibrant and over time, these have become major contributors to the GDP. Despite numerous protection and policy measures for the past so many years, MSMEs have remained mostly small, technologically backward and lacking in competitiveness.
Fast Growing RAK Free Trade Zone Offers Special Package to Indian SMEs
Ras Al Khaimah or RAK , one of the seven emirates of the UAE federation has always held a position of significance. Strategically located, RAK has been a popular centre of traditional shipbuilding and trade and later a centre of quarrying, manufacturing and tourism. It was only a decade ago that the government of Ras Al Khaimah started investing heavily in education and public utilities pursuing policy for economic diversification and promoting industrialisation and tourism in the emirate.
When Promotions Can Be Harmful
Pallab Mishra name changed had been a consistent performer for most part of his career. This ensured him promotions at regular intervals and he was moving up the hierarchy fast. Then it happened He reached a position where he could not perform well anymore. He reached his ineptitude level. This phenomenon, where an employee reaches his, her ineptitude level after a series of elaborate promotions is known as the Peter Principle.
Designing an Effective but Economical Digital Strategy for Indian SMEs
Effective & Economical, two words that SMEs love. Especially in todays India where more small businesses are coming up daily & they are competing not just against one another but also against the bigger guys who have far more generous marketing budgets. In most cases the preferred medium of choice is digital but even on digital I would advice rather than spreading your money across platforms banners, seo, ppc, mobile, social media etc stick to only a few & do it well, expand as your budgets go up.
Cluster Development: A Driving Force to MSMEs
There is no doubt that cluster development not only gears up the growth of MSME sector but also brings the balanced and equitable growth of entire eco system. Cluster Development strategies assists in meeting the growing demand in both at home and abroad and create job opportunities at a fairly low cost.
Quality Cotton Eludes Indian Spinning Mills
India is the 2nd largest cotton producer and consumer in the world. Cotton is one of the principal crops of the country and is the major raw material for the domestic textile industry. In 2008 the textile industry accounted for 14.4 percent of the countrys export earnings. Mill consumption of cotton has gone up by about 2 percent to 4 million tons in 2007 08.
Impact of Demographic Characteristics on Motivational Level of Teachers
The study aims to investigate the extent to which demographic characteristics contribute to enhancement of motivational level of teachers in the selected private educational institutions of Udaipur city. A sample of 370 questionnaires filled by the teachers was studied for their motivational level in their current institution with respect to their demographic characteristics. The results demonstrated that gender, age, marital status has no impact on motivational level of respondents in their current institution whereas monthly income, educational qualifications and hierarchical position of respondents do impact their motivational level. It was concluded that private educational institutions should emphasize more upon financial aspects, status and recognition of teachers in order to motivate them better apart from including motivational training and development programmes into their curricula and regular monitoring of their motivational level.
How Can SMEs Benefit From Classical Ayurveda?
Ayurveda a compound word of the Sanskrit Ayur life, longevity and Veda knowledge beyond a system of medicines is about a personalised way of life that leads to self actualisation and fulfillment at the physical, mental, and spiritual level. In the context of health and wellbeing, Ayurveda approaches it at the preventive, curative, and promotive perspective i.e. it either looks at restoring good health in a diseased person or preventing disease and enhancing the health of an already healthy person.
Handholding SMEs in Their Growth Path
Crest Capital Advisors (CCA), since 2004, is a leading boutique investment bank with global networks capitalizing on its deep domain knowledge and practical expertise exceeding clients expectations by delivering innovative solutions besides integrity and commitment. We at CCA offer both experience and credentials to meet the growing demand of Valuation and Corporate advisory services to SMEs.
Guide to Selecting and Registering a Domain Name
An Internet presence has become essential to promote your business The Internet has leveled the business playing field for companies, enabling companies, no matter what size they are, to potentially showcase their products and services to people all over the world.
PREPARING MSMEs FOR GVCs
Small and medium businesses have an important role in the global economic ecosystem. However, the sector needs to exert itself for greater competitiveness so that the benefits can reach deep down the value chain and the various stakeholders.
Is Service Tax Amnesty Scheme a Remedy?
On February 28, 2013, Finance Minister P. Chidambaram said, While there are nearly 1,700,000 registered assessees under service tax, only about 700,000 file returns. Many have simply stopped filing returns. We cannot go after each of them. I have to motivate them to file returns and pay the tax dues. Hence, I propose to introduce a one time scheme called Voluntary Compliance Encouragement Scheme. A defaulter may avail of the scheme on condition that he files a truthful declaration of service tax dues since 1.10.2007 and makes the payment in one or two instalments before prescribed dates. In such a case, interest, penalty and other consequences will be waived. I hope to entice a large number of assessees to return to the tax fold. I also hope to collect a reasonable sum of money.
Lessons from California
We can trace all energy used on our planet back to the source...the nearest star, our sun. The history of solar energy is as old as humankind. In the last two centuries, we started using Sun energy directly to make electricity. Significant research on Solar went on throughout the world in 1800s and 1900s. The major breakthrough came in 1954, with the birth of the PV cell by researchers at AT&T Bell Labs.
Cost Effective Branding for SMEs
When we think about branding, the first thing that comes to our mind is Investment. Many still assume that branding will incur heavy cost and many avoid spending on any extras for the purpose of branding.
SMEs..You Meant Manufacturing SMEs
India is a country of SMEs. With almost 447.73 lakh SMEs operating in every nook and cranny of the vast land, it provides employment to 1012.59 lakh people. Some of the SMEs are so vibrant that almost the entire national export and domestic needs are catered by them, such as the diamond clusters of Mumbai and Surat. India has never been known for its high industrial output except iron, and it is SME that has given it the edge. Yet, it remains the biggest underdog in the Indian economy.
Opportunity for Small & Medium sized Enterprises
As the volume of content continues to grow within organizations, it becomes daunting to manage this content. Further, with an increasingly distributed and mobile workforce, that needs any time any where access to business information, organizations large or small are looking at ways to manage business content efficiently.
Indian SMEs Realising Their Potential Online
Neustar, Inc. NYSE NSR is a trusted, neutral provider of real time information and analysis to the Internet, telecommunications, technology, financial services, retail, media and advertising sectors. Neustar applies its advanced, secure technologies in location, identification, and evaluation to help its customers promote and protect their businesses. Neustar has been offering full technical, operational, policy, and marketing expertise for .BIZ and .US TLDs since 2001.
How OEM works in Asia Strategic Perspective
Have a quality product with the lowest cost and you could be the leading contract manufacturer anywhere,Often the alpha and omega of practically all papers, float around the desk, with such an orphan mutation of it that even the office boys learnt it in bits and pieces. The fortune lies not in hovering around what to do but to slice and dice situations and frame how to do stuff- practically and proactively. Unfortunately in India, short sight is a common vision disorder and more often we eventually leave it all to the astrologers when it comes to future.
Pragmatic Solar Policies Will Help Attract FDIs into India
The fundamentals of the solar sector have shifted. After years of panel price drops, module prices have gone up this year by about 10 percent, while the rupee has fallen about nine percent. As this occurs, policy, with all its changes and delays, have not been able to keep up with the rapidly changing solar market environment.
Owners Concerns v/s Employee Concerns
Overall spending by businesses on workplace training and development has increased by 12 percent last year, according to a new study by a leading consulting firm. In spite of these efforts taken by the management to attain one common goal growth business owners are still inding it difficult to chug the engine and the workforce bogies faster towards the envisaged destination.
Ray of Hope
Recently concluded 45th Session of the Indian Labour Conference provides a Ray of Hope to the MSMEs for its recommendation to form a Tri partite Committee to examine all aspects of Labour Laws affecting the working of Micro and Small Enterprises.
Unnerved by Hurdles, His Dreams may soon be Realized
Jis insaan ka naam naa ho, woh jinda murda ke samaan hai. Man without name and fame is as good as dead. This statement of his school teacher prompted Sunil, son of a clerk working for CCL Central Coalfields Limited to dare beyond common fascinations. He decided to do something big and different in life and join the league of TATA, BIRLA and Ambani. His dreams were big for his age.
Opportunities with Challenges
It is agreeable that the Global Value chains are reshaping the global economy by unlocking many opportunities for all countries and linking firms, workers and consumers around the world. But these opportunities are tamed with subduable challenges which often provide a stepping stone to all MSMEs in developing countries to integrate into the global economy. The main segments in the GVC vary according to the industry which include research and design, inputs, production, marketing and sales, and recycling of products after use.
Migration to 'Cloud ERP' by SMEs in India
Cloud computing is poised well to become a reality rapidly. Organizations are moving to evolve the existing infrastructure to include cloud capabilities. Choosing how to build the enterprise application on cloud is perhaps the most important and strategic decisions IT heads will take in this decade. It is the decision that will in turn decide an organizations IT economics, scalability, and competitiveness for the years to come. Though there are some apparent roadblocks experts believe that with time the acceptability will be high. What are the factors influencing this?
Commonly understood the week is merely 7 days but from Sunday to Saturday each one of this 7 days symbolizes a vast idea conceptually inspirational. From our school days Sunday is a holiday. It is the first day of the week and marks worship and rest. In all the nations of the world Sunday is a truly restful day devoted to the grand ideas of worship and rest. What do we worship about?
Entrepreneurship and Innovation is the Key
Recently Vijay Govindrajan, Professor of strategy at Dartmouth College, USA was asked While Innovating, whom should companies target local consumers or global ones His reply was The focus has to be Indian consumers, especially Indian non consumers. He divided India into three categories, namely Developed India 100 million people living in 15 major Indian cities, Developing India 300 million people living in 6,000 small towns, and Underdeveloped India 700 million living in the 600,000 villages.He combined developing and underdeveloped India into one group of customers as non consumers.
The New Commerce Opportunity for APAC
Building Successful B2B BRANDS
We have clients with B2B businesses who say we do not need branding. We sell directly through one on one meetings and if our specifications are right the decisions boil down to price. This is the direct B2B way of selling.
Water-Energy-Food Nexus Approach for Sustainable Development in India
Water is predicted to be the primary medium through which early climate change impacts will be felt by people, ecosystems and economies. Building climate resilience into development across water dependent sectors irrigation, water supply and sanitation, up land agriculture with water conservation, energy, environment, and others is key to achieving long term sustainability but will demand strong cross sectoral integration and coordination.
GVC : A STEP AHEAD TO MSME CLUSTER
The Micro, Small and Medium Enterprises (MSMEs) sector with over 94 percent of the industrial enterprises is one of the leading contributors to Indian economy. The MSME sector constitutes 36 percent of the total value of exports of the country and e mploys over 80 million people. The constitution of MSME sector to the output of the country is 40 percent and to the GDP is over 8 percent. The sector contributes significantly to industrial, economic, technological and regional development. It facilitates industrialisation in rural and backward areas. In recent years, MSME sector has consistently registered higher growth rate compared to overall industrial sector.
Precision Sampling Platform GoTry is in Expansion Mode
Go Try is India\'s first and only multi-brand sampling platform. The brainchild of India\'s leading Experiential Marketing and Brand Activation agency, Vibgyor Brand Services, Go Try uses technology at its core to make the sampling process more intelligent, effective and streamlined.
WHO'S THAT GUY?
SME's role in India's Manufacturing
Small and Medium Enterprises (SMEs) have played a vital role in India\'s economic growth. With over 30 million units, SMEs accounted for 17 per cent of the country\'s GDP in 2011. Small & Medium Business Development Chamber of India projects the share of SMEs in the expansion of the Indian economy to increase to 22 per cent of the GDP in 2012.
10 WAYS for SMEs to Build Their Brand Image
The brand image is the beacon that lets a company stand apart in today\'s market space, allowing customers, employees and vendors alike to be attracted instantly. It\'s an emotional bond that instantly builds a bridge and grows consistently to loyalty. In today\'s fast growing market place in emerging countries, with the influx of multiple global brands that seek the attention of your customer, it\'s the brand image that binds them emotionally. It\'s the bond that ensures your clients ignore the seduction of better price, quality, packages or add-ons.
Investing should not be a Seasonal Exercise
RKSV Securities, a three year old retail brokerage firm, has shot into prominence by crossing Rs. 3000 crore at the National Stock Exchange and becoming one of the leading brokerage firms of India in terms of turnover done. The company started its retail operations in 2012 with revolutionary 1947 Freedom Plan but was a major participant in proprietary trading from 2009 onwards.
Logo - A Covert Sales Booster Tool
Logo, considered by most of the SMEs as a mere image on business documents, also has covert power to multiple sales turnovers irrespective of the organization size and industry. It is a base element of brand equity that has raised many companies\' topline to multi-fold.
How will India\'s Children be Prepared for Life?
India has always been a land of extreme dichotomies. One of the most extreme is that the country aspiring to become an economic superpower has an education system that is failing generations of children.
Walking on the Edge of Life in Disguise
Last week I happened to watch a talk show on a popular Tamil channel. The television camera zoomed in on a woman in her early thirties, who was letting out her pent up emotions. Her parched skin and sunken eyes bespoke volumes of her poverty and her words were drenched with remorse and anger.
HR Interventions in Overcoming Challenges in MSMEs
We all know the importance of this sector and some figures available on SME sites confirm that… “MSMEs constitute approx 95% of all Industrial units and contribute 45% to Industrial Output, 40% of exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets. SME\'s Contribution towards GDP in 2011 was 17% which is expected to increase to 22% by 2012.
One Community One Mission
Corporate Social Responsibility (CSR) is defined as ethical behavior of a company towards the society in the form of a global programme. Corporate sustainability practices as a concept is evolving in business. The journey has been a long one from a focus on corporate philanthropy to CSR.
For Vasu Healthcare - Charity Begins from Home
Vadodara-based Ayurveda products maker Vasu Healthcare Pvt. Ltd has its own way of doing CSR. The company management follows the age-old saying “Charity begins at Home”. Company\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'s Chairman Vithalbhai Ukani believes that you should take care of family and people close to you before you worry about helping others. “As our employees are the first stakeholders, we do lots of CSR activities for them and their families. Our company also understands the responsibility for the society and we do our bit in our own way.”
Seeding Innovation at an Early Stage
The NSIC Rapid Incubation cum Training Centre was started as another visionary step towards CSR with the main objective to create self employment opportunities by imparting training in entrepreneurship building to the unemployed people who want to set up micro enterprises or seek gainful employment.
CSR is Key to Organisational Success: Dr. Rashid Alleem
Corporate philanthropy is not a new phenomenon. It has been in existence since ages. Today when the entire world is facing social and economic crisis, the role of corporate social responsibility has become the need. Now the focus of discussions is not on more growth but inclusive growth. We need to maintain a strong focus on the protection of the environment and sustainable development by means of better management commitment.
DREAMS TO REALITY - CSR Initiatives of Numaligarh Refinery Limited
Numaligarh Refinery was conceptualized as one of the most environment friendly refineries in the country. With the Kaziranga National Park-the abode of the world famous one horned Indian Rhino located in the adjoining district, the refinery establishes a happy ecological mosaic wherein co-existence is the homogeneous theme. Besides mandatory pollution control measures, specific steps have been taken to ensure that there is no adverse impact on the neighbouring Kaziranga National Park.
Women Change Makers
The Womanity Foundation (www.womanity.org) is a philanthropic organization that undertakes to empower girls and women to shape their future and accelerate progress within their communities. Womanity instituted theWomenChangeMakers\' program (www.womenchangemakers.org), a unique fellowship program that identifies, supports and connects leading social entrepreneurs addressing women\'s access to education, health, economic and political participation. In doing so, it empowers them to build sustainable models, develop synergies and increase their impact. WomenChangeMakers focuses on engaging professional partners with its fellows to support their growth and intensify their impact on the ground.
Role of Resurgent India in Helping MSMEs
MSME is one sector that needs hand holding at every level. They have no dearth of skills but besides that they need guidance and help on every other business activity. Many such enterprises remain small only because of lack of proper guidance at the correct time. We are in our own small way helping out such units by providing guidance on all fronts across a wide spectrum of areas.
Why The Mid Tier Needs The Third Eye
To be in the burgeoning middle has its advantages. Cushioned between the enterprise sized large firm and the boutique-sized small business, the mid tier organization has apparently tided over its teething problems.
Get Solutions to Your Business Issues
Do you face such issues at your company? What if you had an easy, smart way of manoeuvring through these issues? Something to help you take the right steps…. Many of our mentors have spent 20-25 years working with companies, like yours, and helping them overcome such issues. Over time, we have been able to hone our techniques & have been able to replicate a step-by-step solution to most business issues. This has enabled many organisations to produce quicker results.
LRN - Inspiring Principled Performance in Enterprises
LRN, a knowledge service provider worldwide works on the principle that the growth path for enterprises everywhere leads through culture and ethics. Founded on the 'power of an idea', LRN, since 1994, has been 'inspiring principled performance throughout the business world.'
Empowering The SMEs
As the founder and CEO of Denave, I have been dealing with SME's for more than 10 years. As a result, I was acutely aware of the challenges and constraints faced by the SMEs which were preventing them from realizing the actual potential of their business.
Does Your Business Have Online Presence?
Face-to-face, over the phone and online, moments of truth are the crux of a customer's experience. These moments have the potential to shape, or change, a customer's impression of a company. How well a website delivers brand messaging is a pivotal moment of truth in the success of small and medium sized businesses.
Transformation of Allepey Coir Cluster
An Ahmedabad-based international non-profit NGO, Cluster Pulse's efforts to introduce mechanization in coir rope industry has changed the lives of thousands of people, especially women connected with coir rope industry.
Adequate Financing for MSMEs: SOME WORKABLE ASPECTS
The MSME sector has maintained a higher growth rate vis-a-vis the overall industrial sector during the past decade. According to a survey, exports from these enterprises have been on the rise, despite increased cost of raw material, sluggish global demand and stiff international competition. Today, the sector produces a wide range of products, from simple consumer goods to high-precision, and sophisticated finished products. It has emerged as a major supplier of mass consumption goods as well as a producer of electronic and electrical equipment and drugs and pharmaceuticals. An impetus to the sector is likely to have a multiplier impact on economic growth.
Reorganizing Small Business Operation with Limited Liability Partnership (LLP)
In India, a large population of enterprises falls under the micro and small category. These are commonly in the unorganized form and are thus unaccounted in statistical data. Owing to the minefield of statutory compliances and legal tangles, many entrepreneurs prefer uncomplicated form of business identity such as a proprietorship or partnership firm. These forms are useful to get a small venture off the ground and gradually scale up when especially resources are limited and (or) ideas are new. They are also efficient in terms of operational ease and work well as far as routine operation is concerned.
GDP Vs Human Well Being- A Required Shift in Public Policy in India?
The other day we were discussing the issue of development among colleagues and few mentioned that India has really developed in last 60 years. Out of my inquisitiveness I asked how do they defend this view, their indicators were like, use of mobile, availability of ice-cream, motorcycles, cars and such other products. I put a simple question before them, before 30 years what was the state of education and health in the villages and what it is today. To my surprise I could not get the view of any of them on this. Certainly there is huge wealth creation which has happened in all these years, more in the real monetary terms. The availability of all branded products and services across different industries, proliferation of multi-national corporations, increase in the number of cars, television, mobiles, and such other products might surely reflect positive side of an economy like that of India, might surely boast of higher GDP growth, however one needs to look at its sustainability, the reasons behind and then reach to a conclusion – are we really developing fast, are we really on the right path. This is the motivation of this small write-up to vent my thoughts on the issues of concern and propose in my little way, the remedies to make it more sustainable.
SMEs: Key to Sustainable Development
The global economy is teetering on the brink of another major downturn, especially in the wake of past couple of years of anaemic and uneven recovery from the global financial crisis. The year 2011 witnessed considerable slowdown in output growth, particularly in the developed world. Broadly speaking, the baseline forecast foresees continued anaemic growth during 2012 and 2013 and such growth is insufficient to tackle with the continued jobs crises in most developed economies and will drag down income growth in developing countries.
Global Innovation Festival- Industry Academia Linkages
Indian SME's could move to the next level of innovation curve by companies stepping up their links with the science and technology teaching wings of Indian & overseas universities. There is a need to set up advanced manufacturing enterprise cluster close to universities to foster a more collaborative spirit between SME's and academic institutions.
Online Saga of India's First of its Kind Portal on Service Tax Solutions
Bill Gates famous quote “Information technology and business are becoming inextricably interwoven. I don't think anybody can talk meaningfully about one without the talking about the other” fits the story of Monish Bhalla, who successfully used online business model to cross the geographical barriers of his consultancy business.
In 1946 Safi Maniar's late father Abdulrahim Maniar started a business of making wooden hand-cart for goods and passenger transport with a meager amount of Rs 200. Innovative by nature his idea of replacing wooden/Iron wheel with rubber tyre became extremely popular six decades ago. Then onwards, his two sons Safi and Iqbal kept on introducing path-breaking engineering products, which made Maniar & Co – one of the best Innovative Company in Small and Medium scale sector.
Survival at Stake- 5 Common Risks faced by SMEs
SMEs often overlook or are ignorant of the risks that they are facing as chasing deals and bottom lines are usually their key priorities. They should be aware of the risks they are facing and establish an appropriate risk-management framework to address them.
Coalition Building: From Periphery to Mainstream
Coalitions are useful in addressing issues that are too large or too complex for one organization to address by itself. The strengths of a coalition inter alia include bringing together individuals or organizations with diverse backgrounds and experiences to address complex problems. The knowledge and expertise of all members can be put to use in seeking solutions. Together individuals and organizations can maximize available resources to accomplish the task at hand.
Emotional Quotient Driven Entrepreneurship-Indus Health Plus
Indus Health Plus is a story of how a personal tragedy and loss turned into a motivating factor to launch a venture that is today steadily filling up a huge gap in essential service. SME WORLD presents a first person account of Kanchan Naikawadi, Director In-charge of Operations, Indus Health Plus Pvt. Ltd., the founder of game changing entrepreneurial venture.
Amagi Media Labs – Revolutionizing Targeted Advertisement
In mid-2008, three friends Baskar Subramaniam, KA Srinivasan and Srividhya Srinivasan were exploring ideas for starting a company. They wanted to do something in India and looked at multiple business ideas including Internet and mobile. It was intriguing when they looked at TV. TV was becoming the largest media advertising option in the country, and yet it was a laggard in adopting new business models and technology.
Coal India Drama is playing out to Script
“If the government wanted a few billion from CIL (Coal India Limited), they should have just asked the company to pay a special dividend. Why make CIL go public?” a seasoned chief executive of a power company confided in me at the side lines of a coal conference last month.
Can SMEs Face the Challenge of Climate Change?
Climate change is defined as a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions, or in the distribution of weather around the average conditions (i.e., more or fewer extreme weather events). Climate change is caused by factors that include oceanic processes (such as oceanic circulation), variations in solar radiation received by Earth, plate tectonics and volcanic eruptions, and human-induced alterations of the natural world; these latter effects are currently causing global warming, and "climate change" is often used to describe human-specific impacts.
Reeleezee to Revolutionize Accounting for Indian SMEs
Reeleezee, one of world's leading web-based accounting software companies, come to India to revolutionize accounting for Small and Medium Enterprises (SMEs) and help them in monitoring key business health metrics for better decision making and continuously improve business activities.
Promoting Fashion Footwear Online- Pious Shows the Way
They recognized the strength of unified efforts in a dwindling but potential market worldwide – of fashion footwear. In order to beat the slowdown in the market and take advantages of each other's strengths, East Face and Friends Impex Group joined hands to form a vibrant platform – Pious Fashion.
The Meaning of Tingo
Stepping into Excellence
Businesses of today have essentially entered into an era of competition where only the merit survives. A new eco system is fast setting in. An environment of 'perform or perish' is the order of the day.
Should MSME Play a Pivotal Role in Village Reconstruction?
The major setback for development of rural areas is due to climatic change, failure of monsoon and non-availability of natural resources. As a result, the rural economy is now facing a difficult time and there is a need to revive the rural scenario. In fact, as the recent census shows, a large number of rural people (about 93.1 million of them) have migrated to cities from the villages.
Fire Accidents in Cold Storages Growers are the Ultimate Sufferers
The cold storage proprietors say that they paid the premium amount to the insurance companies hence those companies have to pay the compensation. The insurance companies in return reply that the process of investigation and verification of records and certificates is going on and compensation will be paid to the eligible insured parties. This could take a considerable amount of time as the insurance companies will settle the claims only after following due processes of arriving at the true extent of loss. In the current case, the insurance companies have been instructed to route the insurance payments through the departments concerned instead of making direct remittances to cold storages.
GO DADDY Assures Fatherly Touch for Indian MSMEs
Go Daddy, the world's largest provider of Web hosting, domain name registrations and new SSL Certificates is here to handhold millions of micro and small business enterprises to take them online and help them break barriers to explore the world.
CSR by SME's, a Prospective Example
Most companies in India do CSR work, but at a personal level of the promoter of the company through charities. Here is an example of a company level CSR to pursue collaboration opportunities for indigenous and community-based development projects in India. The company can do this work in the neighbourhood of its factory.
Fostering Educational Opportunities for MSME Workers
Micro, Small and Medium sized companies face many challenges. Most ignored, unnoticed and unattended among them is shortage of skilled manpower. Problem of shortage of skilled and professionally trained manpower take us to the question of facilities & infrastructure to provide training and impart up-to-date skills to millions of MSME workers in the country.
Innovative Clustering with Educative Zeal- The Need for Fresh Approach to MSMEs
The innovation is a constant research as means of renovation and renewal of all processes of an undertaking / organization or institution. May it be educational, Industrial, commercial or service provider?
SMEs Must 'Communicate' for Sustainability
The first few IPOs listed on SME platform of the BSE has brought the spotlight back on India's Small and Medium Enterprises (SMEs). With the policy makers very keen to create a mechanism to promote equity infusion into SMEs, the two leading stock exchanges have made serious effort to establish a viable window for encouraging more investments into this sector. Indeed, SEBI's effort to balance the creation of higher interest in SME stocks with check on possible misuse of the system is honest to say the least.
Human Resources for Micro, Small and Medium Enterprises
The creator, manager and consumer of the business is the human being – all other ingredients like finance, technology, markets etc being mere tools in the hands of the human beings to use or manipulate in accordance with their needs. Based upon this premise alone, it would appear that the stake for human resources in the business is by far the most. Vested with the right mix and quantum of engagement with the business, this stake would multiply manifold to give exceptional sustainability to the business.
Approaching risks to the global economy- Global Economic Challenges: Implications for India
The recovery from the chronic global slowdown is only partially complete in both developed and developing countries; though developing economies are better placed to depend on local conditions and medium-term productivity growth rather than the large, globally integrated and influential forces that dominated economic activity before the financial crisis, and still have fateful stake to mould the global regulatory policies. The robust growth registered in the emerging economies in the last decade has sidelined preoccupied querulous references towards these blocks. However, still several tensions and external events have the potential to disrupt that process.
What is in for SMEs on Cloud?
Today's small enterprises are tomorrow's big businesses. SMEs are constantly expanding in business and reach. With the cloud technology, enterprises can now smoothly address growth plans without any hesitation. The most significant factor is choosing a quality technology partner to whom the IT functions of the organisation can be outsourced strategically. The strategic partner will assist the company to understand the need to upgrade technology to a 'cloud-ready' level and develop an adoption strategy, while tackling the current IT requirements of the company.
The Education Way
In the quest of creating not a thousand but lakhs of Basamlus, our featured change agent of this month is a young IIT-IIM grad sharing roots from the remotest places of Arunachal Pradesh & Assam. Soumen Das is one of those audacious breed of IIM graduates who shun lucrative campus offers to pursue the path least travelled – the path of social entrepreneurship.
Let's Talk Numbers!
In schools and universities, we learn many new concepts and theories in any given academic year. Though we talk a lot about the importance of learning and application of the gathered knowledge, most students usually focus on the sole aim of garnering higher GPAs or marks.
Journey of Ma Foi: Small exploring Fresh Challengs
When the economy opened up in the early 90s, I realised that the multinationals were the window to the world. Therefore, our focus was on offering a bigger portfolio of services to clients. Ma Foi was the first to get into HR automation, outsourcing and executive search and to enter overseas markets such as Singapore, Malaysia, UK, Hong Kong and Dubai.
Urban Companies Target Masses as Against the Elite
The cushion is right under the head of Indian economy, partly, all credit – Center's policies. Execution of rural centric schemes at grass root coupled with policy measures like the waiver of agriculture loans has made Bharat resurgent and relevant for various sectors to come in. As a result of this, rural consumer is nascent yet evolving king of market, even if the reigning king is consumer in metro! I dare say, prosperity is creeping, conquering villages and is steering consumerism.
Riding the e-Commerce Wave theyellowcloset
In today's highly connected world, consumer and brand conscious patrons (who are massively time constrained) are seeking newer, smarter and cost effective ways of buying products and services. Theyellowcloset.com gives them a one-stop solution to seek out and buy the best brands for their kids from the ease of their homes or offices by shopping online. The portal seeks to create the ultimate customer experience by focusing on key business attributes that contribute to customer satisfaction and enhance customer loyalty – quality, price, transaction security and timely delivery.
Yes, MSME's can create Green jobs……
Continuing to look forward on green jobs at MSME's, some interesting aspects come to mind. This mainly revolves around jobs related to activities that contribute to the protection of ecosystems and biodiversity, with low energy consumption, raw material and low water usage through more efficient production systems, while minimizing or avoiding the generation of wastes and pollutants.
Selecting and Appointing Bank Business Correspondents: Lessons from the Indian Experience
The ongoing bids for becoming bank business correspondent (BC) in 20 clusters across India has got to be more interesting with Vakrangee's bid for being the common BC for Rajasthan and Delhi, won at a very low 0.02%, being cancelled by the concerned bank.
Be Savvy and Secure
Social media is a game changer today amongst Indian SMBs who are acknowledging its increasing value as a business tool. As more users sign up each day on social networking platforms the reach of this platform is phenomenal and this makes social networks irresistible to marketers. This has led to social media specific campaigns which have found appeal across many verticals.
Can MSME's Create Green Jobs ?
What is green job ? United Nations Environment Program defines work in agricultural, manufacturing, research and development (R&D), administrative, and service activities that contributes substantially to preserving or restoring environmental quality.
The Enemy Within – Insight into Payroll Frauds
Fraud is a representation of perpetrator's falsified fact, where the victim in ignorance places a rightful reliance and acts upon, suffering damages. In this section, we will discuss about various kind of payroll frauds, and how it affects the employer.
Business Crystal Ball – “Sales Forecast”
Sales forecasting is a crucial topic of management, during which many managers believe that they are the masters, however the sales forecast is absolutely delicate area of work where the people seldom get bounced and suffer heavy discrepancy in the figures targeted and the actual ones, thus the experts have a dispute on the topic to call the Sales Forecast a science or an art. The short answer is that it is a bit of both.
Consult Mentoring Sites for Queries
Business Wagon for Success…Branding-Part -II
Value has different meanings to different people. The objective of the valuation is determined by its use. Some of the more common valuation approaches are market based/ direct measurement method; brand communication investments based method; awareness and franchise valuation method; finance based or indirect measurement method; excess-earnings method and relief-from-royalty method.
Productivity Tools for Small Business Enterprises
This is where web-based open source Productivity Tools can be of help. Thanks to new developments such as cloud computing which are allowing more small businesses to quickly ramp up their capacities and capabilities without significant investments in hardware, software or any infrastructure. Listed below are some popular tools which have found multiple usages in general management, sales & marketing, accounting and human resources functions.
Smaller Cities: Setting the Pace for the Next Wave of Innovation and Growth
Hyper-Growth Economies Embracing Innovative Thinking for Growth To address this rapid population growth, and get ahead of the potential issues that come from overcrowding, small to mid-size cities in the world's emerging economies have been adopting new technology solutions to manage everything from planning energy grids, to building more efficient buildings and integrating emergency response agencies. By building the infrastructure to give local businesses the technology they need, these smaller cities have been able to fast track innovative ideas while harnessing the entrepreneurial spirit inherent in a smaller city.
MSMEs in India: An Overview
The Micro, Small and Medium Enterprises (MSMEs) continues to be a vibrant sector of the Indian economy. As per fourth census of 2006-07 that there are about 26 million units (over 90 per cent of total industrial units) in this sector employing nearly 59 million people in India. They not only create job opportunities at lower capital cost comparing to other sectors, but also require lower capital investment and play a vital role for proper utilization of local resources and talent.
India & China – What's Missing -A Trade & Investment Perspective.
How can then India export to China, what India should want to export in terms of total value & products ? Actually, everything ! Because even today China imports almost everything from 'pin to plane' as their domestic production cannot fulfill the domestic demand because the focus of Chinese production is exports. Then why is India not able to export to China ?
Text Message Marketing: Take Your Personal Brand to the Next Level
Building the brand of 'you' online is something of an art. Maintaining the niche you carved out for yourself takes dedication and focus as you continue to grow within your respected discipline. And of course, you want to develop and maintain a congruent brand in your offline world as much as your online world. This includes things such as ensuring that your social profiles online are congruent with your offline material. It also can involve your business cards and even the clothes you wear, making sure they represent and portray you in a way that you want to be viewed. But once you have your branding organized and you are out marketing from different media outlets, stages and platforms, how do you maintain the relationships of all of the people that you've met in your quest to build your bran?
Training is Free
In fact this is an understatement; I could have said that training pays you back big time. But just because this one sounded catchier, I decided to go ahead with it. When I say this, I am not going to generalize and give “Gyan” on what all it can do for the person and the organization. Instead I would like to pick up an example and do the mathematics of training.
Effective Energy Management
As the cost of energy and utility services go up, increasing numbers of users are looking for ways to limit and manage the amount of money spent on electricity, gas and water. The fundamental problem users have in managing their use of utility commodities, be it water, gas, or electricity, is that there is no practical way to tell how much of each product they are using and therefore how much they are spending at any point in time. Further, they do not know how much it costs to use a given appliance, maintain a certain environmental temperature, or water the lawn.
Business Opportunities and Challenges for SME's in Healthcare Sector
Current Scenario Existing and newly created SMEs contribute to 28 % of India's GDP and up to 40 % of exports. Well thought SME network can take India to different level of progress. The SME sector is vital to Indian economy and it is one of the largest sectors in India providing employment opportunities with an entrepreneurial spirit.
Innovative Financing for SMEs – FICCI – IIFT's 20-point Strategy
The knowledge paper, titled 'Innovation Readiness of Indian SMEs: Issues and Challenges', calls for the establishment of a strong accounting system; detailed business plan, mandatory disclosure of information; sell/outsource part process like distribution and post sales; strong organization structure and chain of command; succession planning; strong cash flow and receivables; use of ICT; co-create product, market and technology transfer; demonstrate good corporate governance; use of retained earnings; all clean and clear transactions through banks; asset based securities; lean manufacturing; what-if analysis; education; tapping micro credit; understanding applicable laws and Acts; tap trade credit and show good health and persistent growth of the company.
Impact of Celebrity Endorsement on Overall Brand
The society that we live in cannot only be called secular or democratic; it should be more appropriately termed as over-communicated. A typical super-market in U.S.A displays more than 12000 brands, an American family has at least one television set and a consumer is exposed to around 1000 ads per day. Likewise, there are around 130 television channels in India broadcasting over 3million television commercials each year in India. The media-explosion can thus be easily demonstrated. Moreover, people forget 80% of the information in just 24 hours! Just imagine the plight of the marketers to make his brand shout over the deafening clutter of all the brands! Somewhere in the 80's, Indian marketers found the solution, 'Celebrity Endorsement' for the brand!
Problems and Concerns Status of Women in India
Mother tells her son, “Show me your friends, I'll tell you what you are”. A similar statement but altogether in a different context referring to status of women was made by our first Prime Minister Pandit Jawahal Lal Nehru, i.e. “You can tell the state of a nation by looking at the condition of the women there”. The irony is that today, everybody talks about women empowerment but the naked truth is that nobody is willing to take initiative.
Business Wagon for Success…Branding
“What"s a brand? A singular idea or concept that you own inside the mind of the prospect." - Al Ries Brand is the aspect that identifies a product, service or company (name, term, sign, symbol, or design and many other things) and how it relates to key constituencies like customers, staff, partners, investors etc. Some people distinguish the psychological aspect, brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand, of a brand from the experiential aspect. This article will help readers understand various shades of Branding.
Elections – Treat For Trade
The Election Commission of India launched the India International Institute of Democracy and Election Management, IIDEM in New Delhi which is an advanced resource centre of learning, research, training and extension for participatory democracy and election management. The institute is set to be a national and international hub for exchange of good practices in election management. The institute will work towards the goal to enhance the potential and capacity of the Election Commission and its officials in carrying out their mandate and functions in a more effective and professional manner. It carries the goal of meticulous, accurate, voter friendly implementation of election processes by committed, competent, credible and skilled managers and associated groups.
Can you save by spending ? Invest in an Energy Audit
Money saved is money earned ! Leaving a PC monitor on all night wastes enough energy to microwave six dinners ! Today, many SME's are just as concerned with how their factory performs as they are with how it looks. Though there are certainly plenty of improvements and renovations that focus on energy efficiency, knowing which projects are going to do the most good for the least money in your situation can be difficult. Thankfully, energy audits are able to separate the wheat from the chaff ! Factory energy audits are not the only resource available for those looking to improve their energy efficiency, but they are one of the best.
Managing Risks in Business
The macro-economic conditions are getting more difficult by the date. Given such a situation it is not going to be long before the weak, unprepared and under prepared are going to drop by the wayside! The weakness of an organization is not going to be determined by its size or financial muscle but its ability to be agile to risks both macro and micro. The agility will only come from being conscious of the different type of risks that it is exposed to and having an appropriate risk mitigation plan to counter it! Risk management may sound a very complicated term but if we look at the same smaller modules and processes it would be easier handle the same with far greater ease. Some very common areas where many companies choose to ignore are discussed under. Sales related
India's Largest Agri Show “KISAN”
Indian agriculture sector has deep impact on rural earnings and livelihood. A significant part of our economy is dependent on our farm produce. KISAN has been around for the last 19 years and each year the convention is held to introduce the farmers to newer technology, financing options, machinery, scientific knowledge and a space to interact with fellow farmers about farming trends.
New Year Resolution of a SME Owner
O yes, this is the time of year when we are all supposed to start promising to go to the gym more, eat less, live more in the moment, etc. Well, those are all noble ideas but if you truly want to make it as an entrepreneur, I'd suggest you leave those to your competitors and look at this time of the year a bit differently. Here are my New Year Resolutions for the SME owners :
New Year Resolution of a SME Owner
O yes, this is the time of year when we are all supposed to start promising to go to the gym more, eat less, live more in the moment, etc. Well, those are all noble ideas but if you truly want to make it as an entrepreneur, I'd suggest you leave those to your competitors and look at this time of the year a bit differently. Here are my New Year Resolutions for the SME owners
Gujarat Leads in Gems & Jewellery Industry
Liberalization of the Indian economy in 1991 had its fair share of impact on the gems and jewellery business which was earlier regulated and few specific agencies could import gold. India has slowly become a leading player in the global gems and jewellery market and the sector has become much sought after owing to its pace of growth and impact on the Indian economy. Today, India is one of the eight important world markets, in league with USA, UK, Middle East, Turkey, Japan, Italy and China.
Profits Must Lead to Social Consciousness: Vinesh K. Bhimani, MD, Kimoha Entrepreneurs Ltd, Dubai
Kimoha Entrepreneurs Limited is essentially a printer-converter of Self Adhesive labels and flexibles for packaging applications, paper products for retail, office & Engineering Industry, Baggage Tags, Boarding Passes etc. for the aviation industry and a Auto Id Solution Provider to all its stakeholder/customers.
Transferring or Selling Property through Slump Sale
Slump Sale has been one of the widely used ways of business acquisition in India. The Concept of Slump Sale is quite old but it gained popularity post 1990s. The concept of Slump Sale was incorporated in the Income tax Act, 1961 ('the IT Act') by the Finance Act, 1999 when Section 2(42C) was inserted defining the term slump sale and Sec 50B
ENTREPRENEURSHIP: A Voyage (Part-II continued...)
Entrepreneurship today is not just a buzz word but it has become a revolution, a rage due to the fact that information sharing has become so easy with the evolution of technology reaching every hand. Entrepreneurship is catching up like a wild fire in a forest and taking everyone along with it in its journey.
ENTREPRENEURSHIP: A Voyage
Entrepreneurship and entrepreneurs are important drivers of economic growth, employment, innovation and productivity which has been recognized and understood by analyst, economist and industry veterans centuries ago and there is no doubt about it. But over the last couple of decades the recognition for entrepreneurship has accelerated multifold, with policy makers , government bodies, trade associations in many countries and international organizations explicitly recognizing the importance of entrepreneurship and showing their commitment to improving the entrepreneurial environment, whether by removing obstacles or via more direct targeted actions in supporting them through various skill development programs.
Benefits of Credit Scores for Consumers
Credit has played an important role in shaping the economic and social dynamics of the society. Remember the shrewd moneylender from old Hindi films, who charged enormous and never ending interest on capital, leading to deteriorating financial status for the borrower. In today's world, thanks to institutionalized credit, we now have structured and regulated credit opportunities available for building assets, educating our children and aspiring for economic as well as social growth. It is vital to understand the role of CIBIL and credit scoring in creating these credit opportunities, driving credit penetration and eventually percolation of benefits for the consumers.
Vacancy: Innovation Officer at SME
There are 9 more innovations, including product innovations adopted by the innovation officer, some of which failed. However, it is not just product innovation which an SME should look at but process innovation too is critical & can be the difference between you & your competitor. I shall narrate those in the next issue.
Enterprise Content Management for SMEs
Enterprises can also use social content management, as social media is an important part of online business promotion. As majority of businesses are web based, online channel optimization is done for content management including electronic forms, mobile device support and content analytics.
Storytelling for SME
SMEs don't often have the kind of budget to put out an advertisement on television or to indulge in brand building activities. And that's where portals like smestory.com can help. These portals bring out interesting stories about businesses, entrepreneurs, how they managed difficult times, how they scaled up businesses and a whole lot more.
Time to Boost Indian Sports Industry
In fact, today Indian sports goods have stood their ground for their unique identity not only in developing but in developed countries too. Sports equipment manufacturing sector which has emerged from the status of the cottage industry has today established itself as a principal and highly reliable supplier of high quality sports goods to a noticeable part of the international market, proves the mettle of Indian sports industry.
You Don't Know What You NEED To Know
printing press, printing machine from US, Printing technology, supplier, customs duty, clearing and forwarding agents, transporters, insurance, borrowed funds, Loan repayment, Surplus Cash, sales commitments, analyzing Profits
Cheap Chinese Goods Hit Ludhiana Bicycle Industry
High level of imports from the Dragon are hitting the domestic industry, particularly the manufacturers of bicycle parts. The imports include kid bikes and high end fancy cycles. The bicycle parts that are being imported in large quantities include hub cones, spokes, chains, baskets, chain wheels and cranks, steel balls, plastic handles, levers, saddle parts, pedals, pumps, pedal axle and caliper brake parts.
Sickness in Medium and Small Enterprises
Sickness in MSMEs has been growing from 13.98% in 2001-02 to 14.47% in 2006-07 and is expected to be around 17% at present. Independent India's economic planning gave a place of pride to the small scale sector, especially with the objective of fostering entrepreneurship and promoting employment.
Why Rajesh Left?
Most SME's faces the problem of people leaving the company for better pay or profile. If you're losing good people, look to their immediate boss. Immediate boss is the reason people stay and thrive in an organization. And he/she is the reason why people leave. When people leave they take knowledge, experience and contacts with them, straight to the competition.
Crowd Sourced Funding for SMEs: An Innovative way of raising funds
Now, the final step involves making it reach to the 'Crowd'. This is the interesting part of the whole process. The SMEs can use the various social networking media like Twitter, Facebook, Linkedin etc. and also viral marketing mechanism to spread the word around and make the world know about the fund request.
Web 2.0 for Small & Medium Enterprises
Web 2.0 is the new interactive way of using the internet and is attracting internet users for personal and business reasons. The technology works by enabling users to work collaboratively and get actively involved in the creation of content and control personal data and information.
New Age Challenges, A Test for SMEs: Pharma Sector Poised to Grow
Indian pharma sector is growing at the rate of approximately 8-9% and is presently considered to be ranked 14th in terms of value. This ranking is predicted to go up in this decade and India is expected to become a lucrative market in the coming years due to many complementing factors. At present selected few companies like Cipla, Sun Pharma, Ranbaxy, Lupin, Dr. Reddy's Labs etc.
Opportunities & SMEs: “India Can Become Global Pharma Hub”
SME companies will have to find out niche segments for manufacturing and marketing. Global market compulsion will increase outsourcing to India over the next few years. SME companies can prepare themselves for this opportunity by applying CGMP in their production and GCP in their laboratory environment. Indian domestic market is very large but fragmented. Smaller companies can focus on rural and non-metro markets to grow over time.
Intellectual Property Rights and Bio-piracy
There is a wide gap between developed and developing nations such as India on patenting the products. For example, out of the 3,125,603 patents filed in 91 countries, only 301,177 or 9.6% are registered in developing countries. India is behind the rest of the world in filing patents related to the various uses of herbal and medicinal plants as a source of alternative medicine while their natural resource and intellectual property continues to be exploited by the developed countries.
Chief Financial Officer: the Facilitator & the Integrator between Functional Heads in SMEs
To deliver these requirements, SMEs need to have CFOs with adequate knowledge, experience and skills, who can act as a 'catalyst' to conceptualize and lay down broad framework and implement the required systems.
Taxi Driver & SME's : Business Strategist
Arriving precisely on time, he sat at the helm of a nondescript car with no air conditioning. On the ride home we hit every shortcut and arrived in half the normal time. Despite our obvious pleasure, Bharat charged us precisely the market rate. It wasn't luxurious, but the ride was just what we had been looking for.
Stag International: Celebrating India's Sports Journey
But his demand slips rapidly when the Team India doesn't perform so well, The big question is of consistency. Cricket is dominating in India and neighboring countries and in some other parts of the world but we are into the manufacturing of the sports which remain in vogue globally.
How Outsourcing Non-core Services Can Make A Difference?
In fact, outsourcing non-core processes and services can be more good than bad for a SME. The biggest benefit of outsourcing non-core services for a SME is the benefit of time. It has been seen that a large percentage of start-ups fail in the first five years of their inception.
Hone Your Communication Skills and Be the Winner
A survey of over 2,000 executives and senior managers, carried out by a US-based NFI Research, revealed that 94 percent of the participants considered “communicating well” as the key skill to succeed in business today. It
Dr. Manmohan Singh & Inaction Equals Corruption
Dear Prime Minister, I hold you great and as representing the Bharat of Gandhi and Buddha, you must lead humanity in a new direction of solar verses nuclear. Please call a universal conference in Delhi, world safety and security as the theme and the technology to build a new haven and not a horrendous havoc.
Roadmap Ahead ……to be the Best SME of the Year: Infect the Workplace with the Data Virus
Data is vital in meetings. Make it mandatory for participants to come prepared with data on points/issues they want to raise. This avoids the problem of 'ALWAYS'. When anyone says someone / something is ALWAYS a problem, asking them to have data to support their statement usually diffuses the ALWAYS and brings it to a more accurate 'SOMETIMES'. So what without data looked like a major issue now, with data, is concluded as a minor one.
Roadmap ahead ……to be the Best SME of the Year
If you were asked, as the CEO of a SME, to identify the one ground reality, the single issue by which your company may grow or fall, you will probably pick staff retention as that issue. Since a SME is not typically a big brand, employees tend to jump ship into a branded organization at the very first instance.
Make a Little SPACE to Make a Better PLACE
The government too should take a special care of these buds so that they survive the test of time and develop into blooming flowers. More exposure needs to be given to these SMEs for expansion and diversification across all sectors.
Truth at all costs, non-violence whatever the provocation, are non-negotiable values under our fundamental social structure. Even death sentence will have to be abolished; and spiritual greatness will be above the craze for material wealth and pleasures.
Importance of Brand-building for Small and Medium Enterprises in the era of Globalization
Brand-building for SME's is an important exercise which should be started as early as possible in order to allow a firm to develop a competitive advantage over other existing firms in the market. Increased competition in the wake of globalization can be tackled by domestic firms through Brand-building.
The Evils That Men Do are Oft Interred with Their Bones
Did not the President of Pakistan Ayub Khan carrying the body of Lal Bahadur in brotherly humanism? Lal Bahadur was a small man in with a big heart. But all our leaders of today have small hearts but big politics.
Support System for Rural Enterprises & Entrepreneurs
Institutional mechanism that would be created can facilitate the formation of new start-ups and work to empower and assist informal sector enterprises, micro & small enterprises in their growth and expansion. This mechanism should have the capacity to address some of the issues that the enterprises face such as credit related issues, lack of information, marketing support, technological and technical assistance etc.
How to Increase Your Retail Sale?
Based on a survey from the National Retail Federation, a business trade group, nearly 11 percent of consumers have finished the vast majority of the holiday shopping, up from just over 9 percent a year ago.
Three Leaders, Two Nations, One God !
Across Wagah, a day earlier, Pakistan had celebrated its Independence Day. The following day was a Friday and Eid – dually pious in Islam. Urdu was to be its national language but Jinnah was not fluent in it. It was clear on June 3, when Mountbatten, Nehru and Jinnah, by turns, had announced acceptance of Partition on All India Radio.
Self Empowerment Must for SMEs
But with the global turmoil of the financial crisis which shook the foundations of many economies worldwide, some of them which are still struggling to get back on their foot, should SME's wait and watch or should they start proactively looking for building a strong foundation which can withstand the storm of times?
Impart Quality in Technical Education
Technology is an important engine of development due to the predominant role it plays to enhance productivity and quality, reduce costs and response times. In the context ol globalisa tion of the economy, the underdeveloped and the develop ing world have to compete with the technologically advanced world, that has the advantage in using technology to enhance productivity, thereby getting a competitive advantage.
Role of SMEs Sector in the Emerging Indian Economy
The capability of Indian MSME products to compete in international markets is reflected in its share of about 34% in national exports. In case of items like readymade garments, leather goods, processed foods, engineering items, the performance has been commendable both in terms of value and their share within the MSME sector while in some cases like sports goods they account for 100% share to the total exports of the sector.
Scalable, Sustainable and Profitable Business Growth in SMEs
The entrepreneur must look at scaling up the business, only when the existing business unit becomes sustainable. But he or she must avoid making huge investments in new outlets may be too much of a risk for a micro-level Entrepreneur.
Government Says ‘Reform or Perish’; Some Say ‘Reform and Perish’; Buddha Chose the Middle Path
The deregulation of the petrol prices, has taken a toll on the government. Whatever be its compulsions, the fact of the matter is that politically it has cost the government dear, including isolating the government from the working and middle classes.
Re-Surgence of Khadi
From Theory to Practice: Business Incubators as Tomorrow's Educational Centers
Job creation is indeed a global challenge and creating employment opportunities in the local market, within our neighborhood economy is the need of the hour. Here comes the role & relevance of SMEs and tools and institutional mechanisms to aid their growth.
Greener Pastures for Kenz Garden Tools
Harshel wanted to build a strong competitive advantage for his business so that he could compete with suppliers from other parts of the world on an equal footing. This motivated him to register for Alibaba.com’s Gold Supplier membership in 2008.
FDI in retail: safeguard Indian MSE trade enterprises
Some 25.1 million people are employed in the retail trade enterprise sector, 42 per cent of total non-agricultural establishments’ falls under the category of retail trade. Contribution of trade sector in general to gross GDP is placed at 15 per cent, out of which 8 per cent comes from retail trade sector.
SME Sector – A Haven for Startups.
In order to succeed and grow, SME’s need to study and discover their customers' priorities and thus align their products and services to suit their needs. They review existing best practices and aggressively and appropriately adapt them for implementation within their organization.
Legal Prevention, a Better Cure for SMEs
If small and medium enterprises don’t take note of this, then they may land up in big trouble later. For example, if there is a dispute that goes to court, a large company might not be affected to the extent to which the SME might be. One reason for this is that Indian courts are suffering from a huge backlog of cases, so the dispute might be resolved after a long waiting period.
Video Conferencing for SMEs Most Viable
Today's enterprises are looking for leading edge technology, flexible conferences, flexible deployment, common management suites, highly scalable solutions, secure VoIP conferencing, embedded multipoint options and more video conferencing solutions. However, the adoption of these technologies isn't limited to large MNCs only; we have witnessed a considerable amount of adoption of visual communication solutions in the SME sector as well. Small and medium sized businesses prefer to deploy technological solutions that have a direct impact on their profitability margins by delivering better price-performance advantage and also help these organisations in boosting their productivity.
Women, Family and Work
Although women are not a minority, in the world of work they have faced many handicaps. In fact, majority of women who wish to pursue a career face the problem. Domestic and outside work often causes imbalances. Gender discrimination is a common phenomenon.
“C”SR For Happiness!
Taking cue from the previous issue on CSR, it just struck me why the “C” in CSR should always stand for Corporate? Why can’t it stand for Citizen? Don’t we as just citizens have any social responsibility?
The ‘MOH MAYA’ of Mayapuri….
The scrap market has its own fallout and has taken a toll on human health. Most of the people living there are suffering from various health problems such as asthma, skin diseases, tuberculosis and even lung cancer. Even Somprakash could not escape the onslaught of diseases. His life has been full of challenges as he went about managing food and shelter and education for his children.
Industry-Academia Interaction for Long Term Benefits
Of late, there has been a lot of talk about industry- academia interaction. Indeed, there is a great need for the two to talk to each other, build up synergies and address the complementary issues. However, there is an urgent need for both the industry and the academia to focus in their respective areas and need not step out of their respective domains. There is inherent danger that interaction without a broader understanding of the issues may not produce the desired results but on the contrary may rather give negative results.
Importance of Business Etiquettes in International Business
Some people love meetings while some people hate meetings. No matter how you feel, you must agree that they are necessary for problem solving, information sharing and decision-making as well as they give you the opportunity to interact with your clients, your colleagues and others with whom you do business.
KVIC Programme In North East Zone Regeneration of Village Industry
The North East is richly endowed with natural resources and the Zone is well known for its extensive forests with varieties of flora and fauna. The landscape is made up of hills and valleys filled with natural beauty. The people of North East Zone live their varied life with colorful customs.
Solar Power at everyone’s Doorstep
The residents of Rampura village in Jhansi district, Uttar Pradesh (UP), are the envy of their neighbours. The reason: Rampura is perhaps the only village in UP that has round-the-clock power supply. Surprised?
Grooming SMEs in Brooming ASEAN
Geographical proximity and economic imperatives have been the primary pull factors in India's efforts to engage the ASEAN through different strategies. India is no stranger to Southeast Asian and regions beyond it, given it deep historical, cultural and maritime bonds with them.
Man of the Month: Sharad Pawar - Boil in The Sugar & Other Bowls
The moot question is he did, and if he did, where did Sharad Pawar go wrong ? In UPA-I, his 3-in-1 portfolio was exactly the same it is in UPA-II. So on this count, I do not agree with the Congress spokesman Manish Tewari's tongue-in-cheek remark that “I don't think the Agriculture Minister needs any “naseehat” (advice)”.
What will be the Focus of Economic Policy and Budget?
Finance Minister Pranab Mukherjee will have the advantage of working out a Budget which will have minimum political pressures. The Congress Party does not have to undergo through any test of fire of popularity. It has made its mark in the hustings at the Centre and States.
Entrepreneur-Couple of Assam: Silkworm Helps Them Weave Profits
Assam has a rich tradition of 'Muga' silk-growing and accounts for 90 per cent of India's total 'Muga' production. There are six 'Muga' production seasons of which only two - 'Katiya' (September to November) and 'Jethua' (May to July) are the commercial seasons.
Dairy Farming Practices: Use of Veterinary Drugs Major Cause of Milk Contamination
Total estimated milk production per year is 1020 lakh ton and fifty per cent of the total milk production is being retained for domestic consumption by the producers and leaving about 50% as the marketable surplus and process by organized and unorganized sector for liquid milk consumption and manufacture of products.
Alcoholism, Marxism and Kerala Marxists Government
Kerala in monopolizing manufacture of beverages are in good company of Tamil Nadu State not only manufactures but vends liquor as a monopoly. So business profits from alcohol consumption belong to the State.
MSMEs Must Have Ethical Approach to Clean Environment
Awareness of the environment we live in is critical to our existence. Respect for and harmony with it has immense time tested advantages while abuse and disharmony have shown the heavy price which we have to pay. Any indulgence without discipline is inappropriate just as health without hygiene is impossible.
Human Resource Need Holistic Approach
Like capital and technology, human resources must also align with business realities. After all, resources are meant to serve the ends of economic activity and must, therefore, remain subservient to its needs.
Remote Hill Women join hands for Big Agro Incomes
The hard-working, determined hill women of Rawain have decided to enhance their lives by playing a key role in the socio-economic development of their families and communities. Packaged foods, processed foods, handicrafts are fueling the change.
IPRs- The Lifeline of the SME World Today
Focus shifting from an enterprise's tangible assets to its intangible ones, for SMEs, it is the possession of the latter such as knowledge, creative genius, innovation potential or brand name which have become more crucial in determining its competitive edge in the WTO & TRIPS regime.
Are you the Reason for Your Failure?
People lie to themselves because they want to conform to their self image they carry. They create positive illusions to cordon off negative information when threatened by adversity. Every lie we tell to ourselves is based on fear.
Indian Pharmaceautical Sector SMEs on the Growth Path
The existence and growth of small and medium enterprises (SMEs) is a salient component of industrial structure in India. The contribution of SMEs to pharmaceutical units, output, investment, and employment is considerably higher than many other sectors.
'What the Union Budget means for India's SMEs'?
. The Union Budget presented by Pranab Mukherjee attempts to reduce the regulatory tax burden on smaller businesses and easing compliance. The 2009-10 budget was presented in a scenario of decelerating agricultural growth, rising food prices and growing uncertainty due to delayed monsoon.
Davidism: The Power of Being Small
The corporate world as well and the big corporates / MNCs are Goliaths and small and medium scale enterprises (SMEs) are Davids. To become David one will have to follow effective marketing practices especially on advertising and branding.
Get Your Hiring Process Right - Human Resources
People in the organizations that make a difference in its earning and growth. A good team can spur an organization to success while an incoherent team can doom it to bankruptcy. Human assets are the most important assets an organization can have.
Initiating Entrepreneurship Efforts - Unexploited Resources of the North-east
After the first EDP awareness workshop with help of KVIC, about 26 ex-servicemen and 4 women were able to get their projects sanctioned by the banks. In the second EDP awareness workshop that we have conducted the number of people attending jumped from 80 to 180.
Six steps to choosing an effective Lawyer
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
January every year used to be the Great Film Month in Delhi. International Film Festival of India, IFFI used to take place a great get together of film buffs. Youngsters with a taste for the...
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