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    LENTREPRENEUR June-July 2012

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    A few years ago, society expected people to have unimpeachable characters, and it was considered a compli-

    ment if a letter of recommendation had a statement that was built on the lines of a quiet hard-working per-

    son. Now, generally speaking, such a statement would spell doom.

    Times have changed. Introverts are as abundant as before, but introversion is not fashionable. This is largely

    because we are no longer working with people whom we have known all our lives. Impressions must be

    made. Boasting is required and expected. Contacts must be built quickly. Be assertive and opinionated is

    the motto of the day.

    But does this imply that introverts are less capable than extroverts when becoming entrepreneurs? In the

    modest opinion of this writer there is no such boundary. Amongst other things, the core traits that an entre-

    preneur is expected to have in him is creativity, leadership, knowledge, determination, integrity, courage and

    patience.

    SILENCE OF THE LIONS

    BY JAYANTH

    Research in organizational behavior has shown that though introverts take more time to be leaders, they make

    better leaders for the simple reason that they are more open to ideas. In the thrill of the moment extroverts

    tend to impose their additions and opinions on the creative ideas of others, often dampening and discouraging

    it. Furthermore, introverts tend to be more thoughtful, and so they often work harder and are more knowl-

    edgeable than extroverts. And determination and grit is hardly a characteristic that is restricted to any one set

    of people. Surprisingly, it has also been found that introverts tend to lie less often than extroverts.

    When we read about poets, writers, painters and others who are often considered the most creative class of

    people, the common thread in their lives is that they were at their most creative when they were hearing the

    voices of their souls. Silence and peace was the birthplace of their creativity.

    Then why does society reflexively react negatively to introverts who wish to be entrepreneurs? Why do most

    introverts feel that entrepreneurship is not their cup of tea? Given the current economic scenarios, the

    thoughtful, cautious and risk-averse introvert who takes the next step only after thoroughly consolidating the

    previous one may often succeed better than others.

    Picture Credit : denisewakeman.com

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    Is it then, simply a social paradigm that we often absorb and inflict on ourselves? Perhaps it is.

    But if we, from our hearts want to make a name for ourselves, if we feel that we should strike out a path of

    our own, a road less travelled by, is it not required that we break such rules and be precisely that element of

    change which is what all entrepreneurs are?

    A few decades ago, there was a change in the work culture, a sudden, dazzling, unexpected and powerful

    change that lead to the present open-door policies, group activities, team building strategies and so on. Now

    again, after the recession, after innumerable scams and downfalls, there is another change, a silent, unassum-

    ing, steady change from the past noise and hubris to an environment where people are given importance, irre-

    spective of their preferences in their work culture.

    To those of us who are introverts, and who have felt the discordance between social expectations and per-

    sonal preferences, there is an example of a particular introvert. He brought about a change that affected an

    entire country, and he led them in that revolution. Mahatma Gandhi was an introvert. He led and took the

    limelight, because he felt it was required, because he believed in the change that he eventually brought about.

    And people followed him because they sensed that belief, and knew that he was not a man who was on stage

    merely because he liked to be seen. In the few videos of his that are available, where he was in front of a

    camera and was expected to face it, his discomfort is clearly visible. And yet he did what he did, and he did it

    so well, that we all know of it.

    And there are many more such examples, Martin Luther King was an introvert, and many religious leaders

    whose teachings are remembered and followed even after centuries and millennia show characteristics of

    introverts.

    So, are we introverts capable of bringing something new to the world? Are we capable of forging a life for

    ourselves? Do we have it in us to go against the flow?

    Perhaps it is time that we brought about a change in social institutions; schools should allow introverted chil-

    dren to learn at their own pace, instead of forcing them into group activities and team work that would actu-

    ally inhibit them. Offices need not insist on glass walls and open doors, and allow introverts the silence and

    privacy that lets them work best.

    There is much to be done, and we need everyone to work together, extroverts and introverts.

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    ALUMNI SPEAK : A FAILED VENTURE THATSHELPING ME SUCCEED

    BY ANUSHA SAXENA

    I am a failed entrepreneur and this is the story of how

    my failure is helping me shape my future. I failed but

    never gave up on my dream. After all, failure is the

    first step towards success. Not everybody who's any-

    body got to the top today with overnight success. His-

    tory proves more often than not that success only

    comes after one has faced numerous obstacles, thusforced to work harder and smarter. What matters is

    not getting disheartened and looking for ways to

    bounce back.

    I start the story of my entrepreneurial journey by talk-

    ing a little about myself and why I wanted to become

    an entrepreneur. I come from a service class family-

    simple living, simple aspirations. Even though every-

    body in my family is well-established and making

    good money for themselves, the fact that they were

    working so hard for others (their bosses) bothered me.

    Even though they were good at what they did, they

    were all doing it to make someone else earn more

    money from it! Everyone in the family had the same

    story except for my maternal uncle. He is a successful

    entrepreneur with a well established Delhi based IT

    Services MNC of his own. I always loved the fact that

    he didnt have to work for anybody but himself! True

    he worked longer and harder than others, but then the

    benefits he reaped were also higher. His independ-

    ence, his confidence, his sense of ownership all in-

    spired me and soon I began to make plans of estab-

    lishing my own company. I wanted to be my own

    boss, and make a career doing what I loved. All I

    needed was one opportunity.

    Opportunity came knocking when I was fresh out of

    school and barely 2-3 months into my under-

    graduation.

    I started freelancing to earn some pocket money.

    Three of my batch mates were also doing similar

    kind of freelance work. So, we decided to pool our

    skills together and started our own IT company

    called TranceVista Solutions which provided soft-

    ware and corporate designing solutions. We decided

    to run it while we were still in college so that by thetime we graduate, well already have a successful

    business in hand. So, I was an entrepreneur at the

    young age of 17!

    We were young, talented and extremely excited to

    get going. I took up the responsibility of managing

    Marketing, Sales and Finances. Projects started

    pouring in through our contacts and in less than a

    year we were able to break even. As we provided

    services at a very low cost and in very little time,

    we quickly gathered a loyal clientele. Good busi-

    ness, great clients, fast progress - We were on a

    roll! A year into our operations, we decided to ex-

    pand a little and scale up. We added branding ser-

    vices and digital marketing to our portfolio and

    that's when the trouble started. Between us four

    partners, we split the responsibility for one vertical

    each. Since the other three were technical people, I

    took up the responsibility of handling the entire

    branding services as well as marketing for the com-

    pany as a whole.

    We were sailing through when a year down the line,

    one of the partners decided to split from the com-

    pany, since she wanted to chart off on her own

    course. The rest of us knew that work was too

    much for the three of us to handle while we were

    still in college, but somehow we were a little

    I have not failed. Ive just found 10,000 ways that wont work. Thomas Edison

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    skeptical about bringing in a new partner and decided

    to somehow manage the work within the three of us.

    Thats when things got really bad. Unable to complete

    projects on time, we began to lose out on clients and

    fall behind on our finances. This also affected our stud-ies and we began to lag behind in our grades. Our little

    dreamboat was somehow sinking and the more we tried

    to make it better, the worse it turned. To cut the long

    story short, after 2.5 years in business, our once strong

    business had no projects, no finances and a bad market

    reputation when we were not even 20 years old! We

    realized that we werent well equipped to run a com-

    pany on our own at that point, and decided to close

    operations and go our separate ways. I and one other

    partner decided to pursue our MBAs and the third part-

    ner went off to Amritsar to look for work. So, that was

    R.I.P. TranceVista.

    Now, you must be thinking, Why the hell am I reading

    a failure story when this magazine wants to inspire me

    to become an entrepreneur?

    Well, this is not a story of failure. Like the title says,

    my failed venture has actually helped me succeed.

    There is only one thing that makes a dream im-

    possible to achieve: the fear of failure.

    For starters, it leaves a great impression on anybody

    when I tell them, Well yeah I am not even 25, but I

    have already been the CMO of a company! Secondly,

    even at work, my bosses and my seniors notice that I

    have this ownership quality inside me as well as the

    ability to multitask, which I did learn from Trance-

    Vista. This has helped me grow immensely in my ca-

    reer as I am being entrusted with many important re-

    sponsibilities. Last but most importantly, I havent

    given up on being an entrepreneur at all. In fact I am

    more determined than ever to bounce back even

    stronger! I know where I went wrong and have been

    trying to fill in the gaps ever since. As soon as I am set

    to start off on a new venture, Ill know what needs to

    be done and what needs to be given a miss.

    And the story doesnt end there. My third partner,

    who went off to Amritsar in search of work, actually

    ended up partnering with another small term entre-

    preneur and he has now revived TranceVista as

    TranceServe in Amritsar (Visit my friend Balwant

    Singh at www.tranceserve.com)! The company cur-

    rently caters to clients all over the world with a vari-

    ety of IT services and has created over 40 odd jobs

    and growing. Now thats what you call rising back

    from the ashes! A true entrepreneur, Balwant is now

    expanding to international markets and trying to

    setup offices at Canada and London.

    Hence, the inspiration you get from my story is- Do

    not give up! Every time you fail, you discover a

    new way of how not to do things. Dont define fail-

    ure as loss, instead define it as an opportunity to

    learn from your mistakes. Try and fill in your gaps

    and start afresh. I am certain; youll always come

    across new opportunities even if one passes you by.

    Signing off, I will see you all when I setup my new

    office, for a new venture in the new future!

    Failure is temporary. Quitting Lasts Forever.

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    THE HUMAN RESOURCES SOLUTIONSTHE HUMAN RESOURCES SOLUTIONSTHE HUMAN RESOURCES SOLUTIONSTHE HUMAN RESOURCES SOLUTIONS

    INDUSTRYINDUSTRYINDUSTRYINDUSTRY

    BY SUJITHA

    Introduction:

    The HR solutions industry may be defined as the re-

    wards derived from any decisions on buying services

    for any part of the human capital value chain. The past

    few years have seen a tremendous growth in the Indian

    HR solutions industry. This significant growth has beenbrought about by a change in the mindset of many or-

    ganizations in following terms:

    Many fast growing companies are increasingly engag-

    ing the services of HR consultants to meet their ever-

    growing HR needs. As companies grow and diversify,

    they want employees with the relevant experience to

    make the growth transition easy and successful. How-

    ever, many times their internal HR system fails to

    source candidates from the large and geographically

    diversified pool of talent and hence, in such situations

    the companies rely on external sources.

    This change in sourcing and mindset has lead to more

    and more companies now partnering with global re-

    cruitment firms to access the global talent database and

    source the right candidates.

    The people driven service industry has been witnessing

    a double digit growth . This industry has a large man-

    power requirement that cannot be fulfilled by the in-

    house HR department and hence more and more service

    industry players prefer to outsource the manpower

    requirementfunction to consultants and enable their in-

    house HR department to focus on core and strategic HR

    activities.

    Temporary staffing which was global growing

    HR trend is finally catching up in India. The tem-

    porary staffing industry is of about US $140 bil-

    lion worldwide. However, on the domestic front,

    the number is very small. The scenarios is how-

    ever set to change as more and more companies

    are now tying up with consultancies and hencethe experts expect that very soon 2.5-3% of the

    workforce in our country would be hired on a

    temporary basis.

    The present HR market place in India includes

    individual freelancers, start-ups, small and me-

    dium players as well as large Indian companies

    and MNCs. The size of the HR market place was

    INR 228 billion in 2011 and it has grown at a

    CAGR (Compound Annual Growth Rate) of

    21% in 2008-2011. The industry is divided into

    three segments Permanent recruitment, Tempo-

    rary recruitment and other segments.

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    The HR solutions industry comprises of three seg-

    ments:

    1.Permanent Recruitment

    2.Temporary Recruitment

    3. Other SegmentsPermanent and Temporary recruitment together com-

    prise of 86% of the overall market size, with tempo-

    rary recruitment holding 73% of the market share as it

    also includes pass through salary cost. Temporary

    recruitment holds 13% of the market share and in-

    cludes net fees from each successful referral.

    The others segment includes small and emerging HR

    offerings such as:

    Payroll administration (producing checks, han-

    dling taxes dealing with sick-time and vaca-

    tion), employee benefits (health, life insurance,

    medical etc)

    Outsourcing of recruitment process

    HR Management and consulting

    Training of employees

    Online job portals

    PERMANENT RECRUITMENT:

    Permanent recruitment is estimated to be a market of

    value between INR 28-31 million. This segment has

    been further divided into Executive search and Re-cruitment. Executive search is conducted for the

    niche category of posts and is focused on hiring of

    CXO level of positions in an organization. Recruit-

    ment refers to hiring for mid and junior level posi-

    tions.

    Permanent recruitment as a process of sourcing con-

    sists of three steps screening, selection and on-

    boarding, with sourcing being the most important

    step as it involves short listing and attracting the

    right kind of candidates. Sourcing of candidates is

    done through campus selection, employment agen-

    cies, internal referrals and job portals. Of all these

    sources, internal referrals and employment agencies

    account for more than 65% of the candidate sourcing

    process. Sourcing through employment agencies is

    now becoming a popular trend and has currently a

    30% share.

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    TEMPORARY RECRUITMENT:

    The temporary recruitment market is of a value of

    INR 172 billion. Temporary recruitment is when a

    temporary work agency finds and retains workers,

    while other companies in need of short-term workers

    enter a contract with the agency to send temporary

    workers on assignment. Temporary workers are usu-

    ally used in industries whose business is of cyclical

    nature and hence require frequent adjustments of

    staffing levels.

    Based on the skills of the temporary workers, the tem-

    porary recruitment market can be divided into three

    segments- Professional Staffing, General Staffing:

    White Collar, General Staffing: Blue Collar.

    Professional Staffing: This segment consists of staff-

    ing company providing temporary skilled profession-

    als on their payroll to large companies that typically

    operate in the IT and engineering sectors. These are

    technically proficient workers such as web develop-

    ers, planners etc.

    General Staffing: White Collar: This segment consists

    of staffing company providing temporary skilled labor

    on their payroll to large companies operating in the

    ITeS, telecom and retail sector. These are usually peo-

    ple with basic or generic training. General staff sala-

    ries typically range between INR 10000-INR 13000

    per month.

    General Staffing: Blue Collar: This segment of staff-

    ing company provides a large number of temporary

    employees to factories and plants. These workers

    typically include labor and are paid minimum wages

    applicable in the state where the company operates.

    OTHER SEGMENTS:

    Recruitment Process Outsourcing: In RPO, the pro-

    vider takes care of the companys internal recruit-

    ment function for all or part of its recruitment activi-

    ties, e.g., sourcing of the right candidates, screening

    them through tests and interviews, selection of can-

    didates based on screening results, on-boarding and

    training. RPO is a service that is not yet developed

    in India but many consultants are expecting compa-

    nies to adopt the outsourcing model to survive com-

    petition during a downturn. Since RPO is an annuity,

    so most of the large recruitment firms are expected

    to offer it as a part of their portfolios.

    Payroll Processing and Compliance: Payroll out-

    sourcing involves analyzing of organizational data,

    computation of gross salaries, TDS, allowances,

    reimbursements of expenses and filling of TDS.

    Payroll being a complex and non-core activity is

    generally outsourced by companies. This space is

    dominated by large MNC due to concerns relating to

    sensitive personal data sharing and the ability to

    provide end-to-end solutions. Contracts in payroll

    are generally offered for fixed fees of INR 100-150

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    per employee.

    Online Job Portals: Job websites help to list jobs ac-

    cording to different classifications. Through a job

    website, an employee can locate and fill out a job

    application, submit resumes to the database which is

    accessed by recruiters for any job opening that has not

    been advertised. Online job portals are a success for

    sourcing resumes at the junior level as in such posi-

    tions, quick turnaround time is of prime importance

    but at the middle level companies usually prefer con-

    sultants.

    Employment Training: Employment training refers to

    high value corporate training provided to upgrade the

    skills of the employees and make them productive

    from the time they come on-board. However, training

    contracts with the private sector are not long term in

    nature and the revenues thus earned are non-sticky.

    The Road Ahead:

    The HR industry being highly competitive is poised

    for enormous growth in the next 10 years as more

    and more companies increase their investment in

    their HR infrastructure. A lot many companies have

    now realized the importance of getting the right

    candidates to undertake complex tasks and out-

    source non-core activities. Companies that were

    earlier reluctant to engage external vendors are now

    considering HR consultants as their partners in

    achieving their organizational goals and objectives.

    Hence, the HR industry is looking forward to inter-

    esting times and the overall sector is expected to

    keep innovating and evolving towards exponential

    growth.

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    EMPLOYEE ENGAGEMENT: THE BULLETEMPLOYEE ENGAGEMENT: THE BULLETEMPLOYEE ENGAGEMENT: THE BULLETEMPLOYEE ENGAGEMENT: THE BULLETOR ANOTHER CHANCE?OR ANOTHER CHANCE?OR ANOTHER CHANCE?OR ANOTHER CHANCE?

    BY EUGENE CYRIL

    On one regular day in the underworld, around noon, a

    worker barges into the chamber of his boss who is

    surrounded by guards with AK 47s , interrupting the

    bosss lavish lunch. The worker is panting and breath-

    less but still manages to sputter these words Maalik,

    Kuch Buri Khabar he .. Hum nakamiyab ho

    gaye ,aapke mission pe.(Boss,theres a bad newsI

    wasnt successful on the mission that you assigned

    me). The boss without even reacting, takes his pistol

    from the drawer and shoots the worker dead. Declar-

    ing for the nth time Hume Buri khabar pasand nai

    he!!(I do not like bad news) A typical scene from the

    olden days of Indian Cinema isnt it? What if the

    same were the state of employees in the organization

    that you work for? Obviously not in the exact same

    brutality, but the importance of an employee be so

    meager that he gets a firing or even gets fired at the

    smallest mistake that he does.

    What we will be stressing on, in this article is not

    how to keep the boss happy even in bad times but

    rather how to keep the employees happy so that the

    bad times never happen. The concept ofEmployee

    Engagement is now being considered seriously by

    organizations keeping in mind the ever looming Eco-

    nomic downturn. Employee Engagement is the con-

    cept wherein employees have such emotional attach-

    ment toward their job, colleagues and Organization

    that they are highly enthusiastic to do everything they

    can for the benefit of the internal and external cus-

    tomers and for the success of the organization. Dur-

    ing my tenure as an Engineer in Wipro Technologies,

    there are very few moments that I will never forget

    and I know that these moments are the ones which

    motivated me throughout.

    Employee perceptions of job importance :

    One day, my manager handed me a testing project

    which was very critical for the customer . The

    reason why I bagged the project was that this pro-

    ject dealt with direct customer interaction which

    according to my manger I was excellent at even

    though I was the junior most member of the team.

    I did this job so well that the customer was ultra-

    delighted. This concept can be attributed to

    Employee perceptions of job importance the

    most important part of Employee Engagement

    wherein an employee contributes his best when he

    knows that the job he is doing is important for the

    organization.

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    Career advancement opportunity

    On one instance, I was promised an onsite opportu-

    nity at Canada in case I finish a particular designing

    part well. Going onsite would be a major career ad-

    vancement for me and that too at such an early stageof my career. This Career advancement opportunity

    was a strong motivation to take up that design job

    very sincerely but fate had other plans, I got an ad-

    mission into IBS after I completed the task.

    Regular feedback and dialogue with superiors

    During my tenure as the President of the youth wing

    of Delhi Charismatic services, the scenario was dif-

    ferent. In this case, I was the leader; I was responsi-ble for keeping my team members Engaged. One of

    the lessons that I learnt during that time was that ap-

    preciating the someones work was a great motiva-

    tion factor. At the end of any major event, I used to

    go up to every single team member and congratulate

    them for the successful event, however minor their

    contribution may be. This instilled in them the feel-

    ing of being responsible for their work and the same

    team would be more than ready to work hard and

    take up responsibilities at the next event which would

    come.

    This behavior can be attributed to concept of

    Regular feedback and dialogue with superiors

    which is another driver for employee engagement.

    Employee EmpowermentAnother lesson that I learnt as President was that if

    you hand a member, any responsibility and allow

    the person to take decisions instead of holding on

    to the control then it results in them taking the

    complete ownership for the task. During one of

    the concerts when the concert tickets were being

    sold all over Delhi, I had appointed a coordinator

    from among my team to coordinate with the sales

    team and motivate them to reach the target sales ifthe sales were slacking. He was given complete

    freedom to divide the sales team and handing them

    specific areas and setting the targets depending on

    the areas. His only responsibility towards me

    would be to report the sales figures at regular in-

    tervals. The Coordinator did such a fantastic job

    with the team and one of the accomplishments that

    stood out was that the Coordinator himself had

    sold the maximum number of tickets in his loca-

    tion hence generating the maximum revenue for

    the concert. This phenomenon can be attributed

    towards the concept of Employee Empowerment

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    Mehnat ka phal meetha hota he Sambha! (The

    fruits of labour are indeed sweet):

    Motivated Employees are more oriented towards the

    success of the organization rather than just surviving

    to earn their salaries.

    Better Results: Motivated employees perform better,

    leading to better results.

    Loyalty to organization: when an organization takes so

    much effort to improve employee experience, the em-

    ployee wants to stay on much longer in the company.

    Better coordination between management and employ-

    ees: Since there is constant dialogue between the boss

    and employees, the boss has a clear understanding of

    the performance of the employee and employee has a

    clear understanding of the expectations.

    Greater Ownership: The employee takes complete

    ownership of the task rather than just completing his

    own task and leaving the rest to others

    Succession plan : It helps in identifying potential lead-

    ers, especially employee empowerment gives employ-ees a chance to show their leadership and decision

    making skills.

    The Climax with a Twist:

    On an afternoon on a sunny day. In the middle of no-

    where, a furious dacoit leader asks his trembling

    worker, who has recently failed in the mission as-

    signed to him :

    Tera kya hoga Kaliya?(What will be your

    fate,Kaliya?)

    The trembling Kaliya, on the verge of a nervous

    breakdown now stutters :

    Sardar,Maine apka namak Khaya he

    Sardar(Boss ,I am loyal to you only) .

    The scorching sun burning down on Kaliya increas-

    ing his anxiety multifold. Sweating profusely what

    could be his last and final beads of sweat depending

    only on the mercy of his master. The leader surpris-

    ingly replies

    Koi baat nai Kaliya, Agli baar dhang se kaam

    karna. Jab ye kaam kar dega, tho me tujhe Ramgadh

    ka Sardar bana dunga (Not a problem,Kaliya try to

    complete the task next time,if you do,I will make

    you the leader of Ramgadh village)

    This would be the real essence of employee engage-

    ment not in the exact same niceness, but the organi-

    zation understands the value of its employee. The

    employee is given more than one chance to prove

    himself. This rational thinking, human touch and

    empathy binds the employee and the organization in

    a bond that is stronger, lasts longer and motivates

    the employee to work towards the organizations

    betterment .

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    SENSORY MARKETING

    BY JYOTI MEGOTIA

    Everything Consumers Experience is the Result of Sensory Stimulus. If we have 5 senses, why not use

    them?

    Coffee in a coffee shop tastes better than at coffee at home. Food at restaurants taste better than food made

    by our mothers. Where does the difference lie ? Is it the difference in recipe or in ingredients ? Perhaps. Or

    perhaps, the difference comes from the experience that one encounters at these places. It is all about the five

    senses that are engaged together to bring out a long lasting emotional connection. This is what Sensory

    Marketing is all about.

    In order to compete, retailers have transformed from conventional marketing to sensory marketing where

    they create multi-sensory environments which have a long lasting effect on customers mind. Competitors

    can copy the product quality or pricing strategy of others, but one can be different by striking the emotional

    chord of customer. This influences the perception, attitude and decision making behavior of the customer.

    This is what creates a powerful brand.

    Retailer branding is not a new concept, so what has pushed it to come to limelight ? The difference between

    retail branding and other types of branding is SPACE. You can see retail space at each and every corner of

    your city, be it a music shop, supermarket, home dcor etc.

    Any retail space should be able to attract the customer to enter the space and make them spend more. This

    can be done using a different mix to appeal to the five senses sound, touch, taste, sight, and scent. There

    should be appropriate mix of these elements otherwise they can act as negative element for retailers.

    A study by Millward, Brown & M. Lindstrom shows that the number of senses appealed to

    are correlated with the perceived value of the product.

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    So, let us start with the effect that SOUND can make. According to a researcher ,the background music

    has lot of effect on consumers wait time, spending pattern, and turnover rate. The retailer should choose the

    pace of sound carefully according to their type of business. For example in a restaurant the music should be

    slow which will increase the spending of the customer( which will be decreased by fast music) whereas in

    clothing section for teens need music which is full of energy. Retailers should also take care of distracting

    sound from outside like of tariff.

    How do you select a shirt or a handbag for yourself? Just getting a look of it is sufficient for you? I dont

    think so- here the importance of TOUCH comes into picture. The touch of the product gets directly linked

    to our brain which releases a hormone called Oxytocin which changes our perception and the confidence in

    the quality of product. So it depends on retailers - how they choose to enhance the experience of their cus-

    tomers. iPod Touch is a MP3 player which should target sound as an avenue for sensory marketing but

    Apple added Touch word which itself created some emotional connection in customer before even listening

    to the sound quality of the MP3.

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    When you cross a restaurant what it that attracts you towards it ? the SMELL. A human being can recognize

    10,000 fragrances, it is said, and 75% of his emotions are generated by what he smells. It is not only about

    product fragrance but also environment in which the product is kept. This element can be used by any type of

    retail shop. For example ,Sony uses the fragrance of Vanilla, Cedar and Mandarin which enhances the buying

    behavior of customer.

    Many of us go for window shopping and at times we are unconsciously tempted to enter the shop and buy the

    product- that is because of the VISUAL effect created by the combination of color, architecture and design of

    the space.

    Last, but not the least is TASTE. It is the most important element for edible brands. When you enter an ice-

    cream parlor you can taste and choose the ice cream you want. But the retailer should be careful because

    when the customer tastes a large variety he gets confused and ends up choosing nothing. But taste is not only

    limited to edible brands but the products like lipstick have also targeted taste element to make it even more at-

    tractive.

    Sensory marketing is now not just limited to the retail show room. It has been incorporated into online market-

    ing. Even though it is very difficult to incorporate the smell, touch and taste element in online marketing, it is

    not impossible. The most important weapon with the retailer is Words which when efficiently and cleverly

    used , can create magic. By use of proper words the retailer can evoke the emotion virtually and the customer

    will feel as if the experience is genuine.

    All these have one thing in common - all elements are targeted to satisfy the needs of the customer. The retail-

    ers need to understand their product and work upon it to make more appealing to the customer so that they are

    attracted to it. Those that are able to make emotional connection with the product become loyal customers after

    all. Sensory branding is one area which is still to be tapped efficiently by retailers and by using the best combi-

    nation of these five senses, customers and retailers can be benefit simultaneously.

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    The Indian retail industry is divided into organized

    and unorganized sectors. Organized retailing refers

    to trading activities undertaken by licensed retailers,

    that is, those who are registered for sales tax, income

    tax, etc. These include the corporate-backed hyper-

    markets and retail chains, and also the privately

    owned large retail businesses. Unorganized retailing,

    on the other hand, refers to the traditional formats of

    low-cost retailing, for example, the local kirana

    shops, owner manned general stores, paan/beedi

    shops, convenience stores, hand cart and pavement

    vendors, etc. Indias retail sector is wearing new

    clothes and is the fastest growing sector in the Indian

    economy. With growing market demand, the indus-

    try is expected to grow at a pace of 25-30% annu-

    ally. The Indian retail industry has grown at a Com-

    pounded Annual Growth Rate (CAGR) of 13.3% for

    the period FY06-10.

    Traditional markets are making way for new formats

    such as departmental stores, hypermarkets, super-

    markets and specialty stores. Western-style malls

    have begun appearing in metros and second-rung

    cities alike, introducing the Indian consumer to an

    unparalleled shopping experience. The Indian retail

    sector is highly fragmented with 94 per cent of its

    business being run by the unorganized retailers like

    the traditional family run stores and corner stores.

    The organized retail however is at a very nascent stage

    though attempts are being made to increase its propor-

    tion to 14-15 per cent by the year 2013 bringing in a

    huge opportunity for prospective new players. The sec-

    tor is the largest source of employment after agricul-

    ture, and has deep penetration into rural India generat-

    ing more than 10 per cent of Indias GDP. Over the

    past few years, the retail sales in India are hovering

    around 33-35 per cent of GDP as compared to around

    20 per cent in the US.

    The last few years witnessed immense growth by this

    sector, the key drivers being changing consumer profile

    and demographics, increase in the number of interna-

    tional brands available in the Indian market, economic

    implications of the Government increasing urbaniza-

    tion, credit availability, improvement in the infrastruc-

    ture, increasing investments in technology and real

    estate building a world class shopping environment for

    the consumers. In order to keep pace with the increas-

    ing demand, there has been a hectic activity in terms ofentry of international labels, expansion plans, and focus

    on technology, operations and processes.

    OVERVIEW OF THE RETAIL INDUSTRY

    - CONTRIBUTED BY THE INCUBE TEAM OF MAON

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    This has lead to more complex relationships involving

    suppliers, third party distributors and retailers, which

    can be dealt with the help of an efficient supply chain. A

    proper supply chain will help meet the competition head

    -on, manage stock availability; supplier relations, newvalue-added services, cost cutting and most importantly

    reduce the wastage levels in fresh produce.

    Large Indian players like Reliance, K Rahejas, Bharti

    AirTel, ITC and many others are making significant

    investments in this sector leading to emergence of big

    retailers who can bargain with suppliers to reap econo-

    mies of scale. Hence, discounting is becoming an ac-

    cepted practice. Proper infrastructure is a pre-requisitein retailing, which would help to modernize India and

    facilitate rapid economic growth. This would help in

    efficient delivery of goods and value-added services to

    the consumer making a higher contribution to the GDP.

    International retailers see India as the last retailing fron-

    tier left as the Chinas retail sector is becoming satu-

    rated. However, the Indian Government restrictions on

    the FDI are creating ripples among the internationalplayers like Wal-Mart, Tesco and many other retail gi-

    ants struggling to enter Indian markets. As of now the

    Government has allowed only 51 per cent FDI in the

    sector to one-brand shops like Nike, Reebok etc.

    However, other international players are taking

    alternative routes to enter the Indian retail market

    indirectly via strategic licensing agreement, fran-

    chisee agreement and cash and carry wholesale

    trading (since 100 per cent FDI is allowed inwholesale trading).

    Retailing Formats

    Modern retailing has entered India in form of

    sprawling malls and huge complexes offering

    shopping, entertainment, leisure to the consumer

    as the retailers experiment with a variety of for-

    mats, from discount stores to supermarkets to

    hypermarkets to specialty chains.

    However, kiranas still continue to score over

    modern formats primarily due to the convenience

    factor. The organized segment typically com-

    prises of a large number of retailers, greater en-

    forcement of taxation mechanisms and better la-

    bour law monitoring system. It's no longer about

    just stocking and selling but about efficient sup-

    ply chain management, developing vendor rela-

    tionship quality customer service, efficient mer-

    chandising and timely promotional campaigns.

    The modern retail formats are encouraging devel-

    opment of well-established and efficient supply

    chains in each segment ensuring efficient move-

    ment of goods from farms to kitchens, which will

    result in huge savings for the farmers as well as

    for the nation. The Government also stands to

    gain through more efficient collection of tax reve-

    nues. Along with the modern retail formats, the

    non-store retailing channels are also witnessed

    action with HUL initiated Sangam Direct, a direct

    to home service. Network marketing has been

    growing quite fast and has a few large players

    today. Gas stations are seeing action in the form

    of convenience stores, ATMs, food courts and

    pharmacies appearing in many outlets. In the

    coming years it can be said that the hypermarket

    route will emerge as the most preferred format for

    international retailers stepping into the country.

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    At present, there are 50 hypermarkets operated by

    four to five large retailers spread across 67 cities ca-

    tering to a population of half-a-million or more. Esti-

    mates indicate that this sector will have the potential

    to absorb many more hypermarkets in the next four to

    five years.

    Traditionally, the small store (kirana) retailing has

    been one of the easiest ways to generate self-

    employment, as it requires minimum investments in

    terms of land, labour and capital. These stores are not

    affected by the modern retailing as it is still consid-

    ered very convenient to shop. In order to keep pace

    with the modern formats, kiranas have now started

    providing more value-added services like stocking

    ready to cook vegetables and other fresh produce.

    They also provide services like credit, phone service,

    home delivery etc.

    The organized retailing has helped in promoting sev-

    eral niche categories such as packaged fruit juices,

    hair creams, fabric bleaches, shower gels, depilatory

    products and convenience and health foods, which aregenerally not found in the local kirana stores.

    Looking at the vast opportunity in this sector, big

    players like Reliance and K. Rahejas has announced

    its plans to become the country's largest modern re-

    tainers by establishing a chain of stores across all ma-

    jor cities. Apart from metro cities, several small towns

    like Nagpur, Nasik, Ahmedabad, Aurangabad,

    Sholapur, Kolhapur and Amravati as witnessing the

    expansion of modern retails. Small towns in

    Maharashtra are emerging as retail hubs for large

    chain stores like Pantaloon Retail because many

    small cities like Nagpur have a student population,

    lower real estate costs, fewer power cuts and

    lower levels of attrition. However, retailers need

    to adjust their product mix for smaller cities, as

    they tend to be more conservative than the metros.

    In order for the market to grow in modern retail, it

    is necessary that steps are taken for rewriting laws,

    restructuring the tax regime, accessing and devel-

    oping new skills and investing significantly in

    India.

    Types of Retail Business

    1. Food and grocery retail

    The food business in India is largely unorganized

    adding up to barely Rs.400 billion, with other

    large players adding another 50 per cent to that.

    The All India food consumption is close to

    Rs.9000 billion, with the total urban consumption

    being around Rs.3300 billion. This means that

    aggregate revenues of large food players is cur-

    rently only 5 per cent of the total Indian market,

    and around 15-20 per cent of total urban food con-

    sumption. Most food is sold in the local wet mar-

    ket, vendors, roadside push cart sellers or tiny

    kirana stores. According to McKinsey report, the

    share of an Indian household's spending on food is

    one of the highest in the world, with 48 percent of

    income being spent on food and beverages.

    2. Apparel retail

    The ready-mades and western outfits are growing

    at 40-45 per cent annually, as the market teams up

    with international brands and new entrants enter-

    ing this segment creating an Rs.5 billion market

    for the premium grooming segment. The past few

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    has seen the sector aligning itself with global trends

    with retailing companies like Shoppers stop and

    Crossroads entering the fray to entice the middle

    class. However, it is estimated that this segment

    would grow to Rs. 3 billion in the next three years.

    3. Gems and Jewellery retail

    The gems and jewellery market is the key emerging

    area, accounting for a high proportion of retail

    spends. India is the largest consumer of gold in the

    world with an estimated annual consumption of

    1000 tones, considering actual imports and recycled

    gold. The market for jewellery is estimated as up-

    wards of Rs. 650 billion.

    4. Pharmaceutical retail

    The pharma retailing is estimated at about Rs. 300

    billion, with 15 per cent of the 51 lakh retail stores

    in India being chemists. Pharma retailing will follow

    the trend of becoming more organized and corpora-

    tized as is seen in other retailing formats (food, ap-

    parel etc). A few corporates who have already for-

    ayed into this segment include Dr. Morepen (with

    Lifespring and soon to be launched Tango), Medi-

    cine Shoppe, Apollo pharmacies, 98.4 from Global

    Healthline Pvt Ltd, and the recently launched CRS

    Health from SAK Industries.

    In the south, RPG groups Health & Glow is already

    in this category, though it is not a pure play pharma

    retailer but more in the health and beauty care busi-

    ness.

    5. Music Retail

    The size of the Indian music industry, as per this

    Images-KSA Study, is estimated at Rs.11 billion of

    which about 36 percent is consumed by the pirated

    market and organized music retailing constitutes

    about 14 percent, equivalent to Rs.1.5 billion.

    6. Book retail

    The book industry is estimated at over Rs. 30 billion

    out of which organized retail accounts for only 7 per

    cent (at Rs.2.10 billion). This segment is seen to be

    emerging with text and curriculum books account-

    ing to about 50 per cent of the total sales. The gifting

    habit in India is catching on fast with books enjoying

    a significant share, thus expecting this sector to grow

    by 15 per cent annually.

    7. Consumer durables retail

    The consumer durables market can be stratified into

    consumer electronics comprising of TV sets, audio

    systems, VCD players and others; and appliances

    like washing machines, microwave ovens, air condi-

    tioners (A/Cs). The existing size of this sector stands

    at an estimated US$ 4.5 Billion with organized re-

    tailing being at 5 per cent.

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    Retail Forms

    Pure Retail

    Pure Retail is any sale to an individual or companyfor end use. Retail is any sale to an individual or

    company for end use. Retailer has costs, (like rent,

    employees, taxes, loss/breakage, advertising, etc.)

    and needs to make a profit (which is the reason they

    are in business). Those added items must be placed

    on the price charged the customers, above what the

    retailer paid for the product.

    Wholesaler

    Wholesale is a bulk sale by a manufacturer or dis-

    tributor to for resale to a retailer. In almost all states

    it is illegal to sell wholesale to an individual, or claim

    to sell wholesale when it is for end use and not for

    resale. Also in most states wholesalers may not sell

    to the public. Wholesale sales do not carry sales tax,

    as sales tax is charged to the end user. Thus is a"wholesaler" were to sell an individual something

    and charge the sales tax it would be by definition a

    retail sale and it would be deceptive to claim that it

    was a wholesale sale or that the merchant was a

    wholesaler. Retail is marked up from the price the

    wholesaler sold it for to the retailer. The wholesaler

    usually gets their goods and pricing from the manu-

    facturer which is marked up as well.

    Franchise

    A franchise is defined as a business that is authorized

    to sell or distribute a company's goods or services in

    a particular geographic area. When you open a fran-

    chise, you own the business and its infrastructure

    along with the right to use the franchising company's

    brand, trademarks, and promotional materials. In

    most cases you also own the exclusive rights to sell

    the product in your franchise area.

    In return for these rights, the franchisee (we) agree to

    pay an upfront fee to the franchising company. This

    fee can is usually significant and covers a variety

    services that are provided to us by the franchising

    company. There is often also an ongoing franchise

    fee that is paid on a monthly, quarterly, or annual

    basis.

    A person who operates a franchise business owns his

    own business but has to pay to the franchise owner,

    but a chain is owned by the central corporation and

    all the employees are employees of the "big" busi-

    ness.

    The franchisee pays the franchisor for the business

    opportunity and agrees to operate the business ac-

    cording to the franchisor's directions. The franchisor

    owns all the trademarks, business methods, and sup-

    plies that it allows others to use under its contract.

    The difference between a franchisor's and corpora-

    tion's operating a chain of stores is that the chain

    store has store managers who are company employ-

    ees, whereas the franchise operation is owned and

    managed by self-employed business people.

    Editors Note : We shall continue with this report on

    the Retail Sector. In the next issue, we shall give anoverview of the cost structures and pricing strategies

    for this sector. We would like to thank the members

    of INCUBE TEAM of MAON for this report.

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    THE STORY BREWERTHE STORY BREWERTHE STORY BREWERTHE STORY BREWER

    BY DHRUTI K. BADAMI

    You might have seen beautiful books in coffee-shops,

    you might have seen coffee-shops in bookshops like

    Crossword, and you might have seen readers enjoying

    reading while having hot coffee. But, have you ever

    seen on a roadside, a tea-stall offering you books with

    tea? A cup of tea worth six rupees and a book worth

    three hundred rupees with a fifty percent discount! Do

    not be amazed. Its not a story, its a fact.

    If you ever happen to step on the pavement outside the

    building of Hindi Bhawan near ITO in New Delhi, In-

    dia, you will find a tea-stall having tea, sugar, stove, cup

    and radio, but along with those things, what might coax

    you to look over your shoulder is the stack of books

    neatly placed alongside. You might ask yourself what

    are these books here for? They might be there to be sold

    but whats noteworthy is the name of the author in print

    on the covers!

    All those are penned by Laxman Rao, the teaseller and a

    self-taught, self-made writer.

    At Laxman Raos roadside stall, customers come, not

    just for tea, but for a taste of Rao's wise words. This tea

    vendor has written twenty-four books, of which seven

    have already been published with two reprints. Tea may

    be a social starting point for many, but for Rao, it's a

    vocation to survive. It allows him to burn midnight oil

    every day to follow his passion for writing. Writing

    gives him happiness. In pursuit of nurturing his talent,

    his conviction gave him the strength to brave rejection

    and the condescending treatment from publishers.

    Over 30 years ago when Laxman Rao ran away from his

    home in Talegaon Dashashar, Western Maharashtra,

    with just forty rupees in his pocket, he had no idea as to

    what life might unveil. As a child, Rao was quite

    fond of reading but the thought of becoming a

    writer never crossed his mind. An incident forced

    Rao to look for an outlet to vent his intense pain

    and he decided to write. During daytime, he did

    some labor work and by night he sat and read

    books. Circumstances forced him to give up stud-

    ies after tenth standard and he began working in a

    local spinning mill to earn extra money. Then after

    sometime, he left his home and headed for Bhopal.

    There, he used to do labor work at construction

    sites to survive. After a couple of months, the fear

    of losing his creativity made him board the train to

    Delhi. He wandered in search of job, but failed.

    Then, he started working as a mason at construc-

    tion sites and washed dishes at a roadside tea stall.

    Daryaganjs famous Sunday Market became a

    hunting ground for Rao. He read works of Ma-

    hatma Gandhi, Jawaharlal Nehru, Karl Marx, Wil-

    liam Shakespeare and Lenin. Realising the need to

    educate himself, he gradually acquired a Bachelor

    of Arts from Delhi University as an external can-

    didate.

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    He finished writing his first book Nai duniya ki nai

    kahaniya (The stories of the new world) in 1979.

    This book was a narration of Raos hardships and his

    efforts to sustain and nurture his talent.

    He met many publishers and showed his manuscript,

    but nobody was willing to publish his book. One

    even told him tum paan beedi bechanewale kya

    likhogey (A betel leaf/cigarette seller like yourself

    cant possibly write!). He, however, decided if he had

    come so close to making this book happen, there was

    no reason to give up. So he bought paper and spent

    seven thousand rupees to get the hundred and twenty-

    eight page book published. . He priced it at a mere

    seven rupees and decided to distribute it himself.

    Everyday, armed with a bag full of his novels, Lax-

    man made the rounds of schools and colleges on his

    bicycle. Its a routine he still continues with, ap-

    proaching principals of schools and librarians , stat-

    ing that he is the author of the book and requesting

    them to keep a few copies to read and decide if they

    wanted to buy it for their library. Mostly, they end up

    buying it. His second book resulted after his meeting

    with Indira Gandhi. His play, Pradhan Man-

    tri (Prime Minister) written in 1984, came out of his

    encounter with the then Prime Minister, late Indira

    Gandhi, at Teen Murti Bhawan in 1984. The plot

    portrays the Prime Minister in a social setup, with her

    subordinates responsible for corruption. He published

    his next novel, Ramdas, in 1992. It sold in more than

    two hundred schools in Delhi.

    Whatever little money he made from one book went

    into the publication of another. His books have never

    been a bestseller, but they have the ability to emo-

    tionally hit the nerve of the audience . By the very

    virtue of his novels, Laxman has had the chance to

    meet Indira Gandhi and recently President

    Pratibha Patil.

    Winner of the Indraprastha Sahitya Bharti Award,

    Laxman is an inspiration for

    many people.

    So, now, the question remains: Can we consider

    Laxman Rao as a creative entrepreneur? If no, then

    what is the justification of this no?

    Creative entrepreneurship is a practice of self-

    employment in a creative occupation. The distin-

    guishing characteristic of a creative entrepreneur is

    that his/her first priority is of creating and exploit-

    ing creative or intellectual capital. They are the in-

    vestors of talent. Laxman Rao has used his creativ-

    ity to unlock the wealth that lies within himself.

    Since his first novel, he has touched topic related to

    politics, social issues, people and life in general.

    Most people cant believe that a

    chaiwala (teaseller) can write books, but, LaxmanRao has proved them wrong. He set up his own

    publication called Bhartiya Sahitya Kala Prakashan

    and published eight of his twenty books, with four

    more ready to go to press.

    Laxmans writings are woven around ground reali-

    ties of life. Rao has retained that all through the

    years and has never let go of the hope of success as

    a writer.

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    He has written books like Narmada, Renu, Pa-

    rampara se judi Bhartiya Rajniti (The link be-

    tween tradition and Indian politics) and now, he

    is busy in writing Pattiyon ki Sarsarahat (The

    quivering of leaves). To achieve all these, he hadan understanding that he has to build something

    that people actually want and are willing to pay

    money for, before he can expect to see profit.

    Laxman has learned to live with risk and ambi-

    guity. He closely observes the world, recognises

    omens and stays open to opportunities. Thats the

    reason of his success- he has identified his pas-

    sion for life and he still wants to explore it fur-

    ther, because the efforts of making his life crea-

    tive and worthy, are nurturing to his soul and

    help him to spread positivity in his surroundings.

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    THE HR START-UP KIT

    BY NIKITA BERRY

    Loaded with a three month long firsthand experience of the corporate world, striding into the campus, we now

    are somewhat wiser to the realities of our MBA. All of us pretty much chose our profiles in the specialization

    of our individual interest and were at the best possible places we could arrange for, our little roller coaster ride.

    We went into this experience with certain kinds of mind set and came out with either with a hundred and eighty

    degree spin - off the base or with a clearer picture of what we had imagined initially. Some of us slogged over

    each assignment while some just breezed by them. Whatever the case may be, we now have a better idea of

    what the future holds for us.

    Working with a start-up, away from my home, that too for the first time ,was akin to being pushed into a lake

    and told to sink or swim. Earlier, I could never see how a fresher could to actually get a job and hold it down.

    I always doubted whether I had the required knowledge and the skill set to be in the HR industry. However, I

    realized that sinking is not an option.

    Entrepreneurship is something the B- Schools attempt to equip us for. Most of us plan to be entrepreneurs and

    one of the many things that I have gained from my internship can be termed as an Entrepreneurs guide to

    building the HR function of a company from scratch.

    It is the HR setup Tool-kit. Let us begin.

    WHATS THE MISSION, CAPTAIN?

    When a company is set- up, one of the first and foremost step, in order of importance, is understanding and

    writing down what the mission of the company is. You can start with a simple mission like: Being the most

    sought after company in the industry, for product and/or services. The mission becomes important for setting-

    up the HR framework because, it gives the HR policies of the company a goal to work with.

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    BELAY THE MISSION

    Once you have decided upon the mission of your company, you need to decide how you are going to achieve

    that mission i.e. draw a Vision statement for the company. The vision acts as an outline for the framing of HR

    policies for a company.

    BRING IN THE JACOBS LADDER

    The next step for a company in order to decide its HR policies is to lay down the ethical values the company

    believes in and wishes to follow throughout its operational areas.

    HIRE THE CREW

    It is obvious that in a start-up company/ firm only a few people are running all the essential functions for the

    company to make into the main- stream and earn some profits for the company. In such case, an entrepreneur

    needs to select the correct people for framing his HR policies.

    KNOW WHO SHALL BE THE BOATSWAIN

    In a start-up, as important it is to have a perfect HR policy framework and by extension, the budget allocated

    to hire HR personnel. It is necessary to look for the sources from where you can hire someone to start with the

    basic frame of the policies. Hiring an outsourcing firm for HR work is one of the easiest ways to do so. These

    firms can be easily contacted online and they have special packages for start-ups, which are also in accor-

    dance to your pocket size. The other option can, of course, be providing internship at your firm.

    What kind of policies is an HR supposed to frame for your company at this stage ?

    ORGANIZATIONAL STRUCTURE: The first thing that the HR professional must do is to chalk out the

    organizational structure for the company such that the different types of department and roles and responsi-

    bilities of the employees can be decided accordingly.

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    RECRUITMENT: Hiring is the first thing your firm is going to do as soon as it has enough revenue to ex-pand. Here you need the HR to write down when, where and how your company is going to recruit its em-ployees. This policy will also include information about the induction, the orientation process and the train-ing process the employee has to go through after joining your company.

    ROLES AND RESPONSIBILITIES: Each level of employees need to know their job description, thus, speci-

    fying roles and responsibilities is very important.

    COMPENSATION AND BENEFITS: As soon as the employees are hired, retaining them becomes an impor-tant issue. For this the employees need proper policies for compensation and benefits for them.

    TRAINING AND DEVELOPMENT: Policies for the type of training module required for the employees atvarious stages of their employment is very important. This policy has to be in accordance with the budget andrevenue of the company.

    PERFORMANCE APPRAISAL: After compensation and benefits, performance and appraisal also helps thecompany in retaining the workforce for a longer duration and lowering the attrition rate.

    ATTENDANCE AND PUNCTUALITY: This deals with setting up the office timings, the attendance proce-

    dure, penalties, the lunch hours etc.

    CORPORATE BEHAVIOUR: It is necessary to set up the guidelines for the proper behavior expected in theoffice, with colleagues as well as clients and customers for each employee.

    RULES AND REGULATIONS: Here, the HR outlines the rules and regulations for various areas like dresscode, smoking in the office premises, solicitation, gifts etc.

    MISCELLANEOUS: Other policies may follow, like the employee personal file maintenance, grievance reso-lution, reimbursement, absence, vacations, paid/ unpaid leave, travel policy, non- disclosure agreement etc.

    The above points should help an entrepreneur to setup a strong Human Resources department within his com-pany, which will in turn lead to the well managed, efficient and easier operation of the company.

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    BORN WILD

    BY SUNIL G. PILLAI

    When I heard of the word Entrepreneur for the first

    time, probably around the seventh standard in school,

    it intrigued me. Thats when my adventure with this

    world of entrepreneurship probably started. Its true

    that the feeling of creating or building something is

    truly exhilarating. Otherwise why would a child

    smile in delight after building his first sand castle or

    Lego tower ?

    Reading , researching and observing people lead to

    one conclusion. If not anything else, it is this : that

    entrepreneurship can never be taught. Either one has

    it within them or one doesnt. However this is cer-

    tain. Most of us are born entrepreneurs. It is the cir-

    cumstances around us that mould us and our futures.Many times the environment we are exposed to

    change- what we wished to be. You cant force any

    one or wish for anyone to be an entrepreneur. It just

    happens.

    Oliver and Wilber Wright were never told they

    would have to create something. They just wished to

    fly. They fought against odds and ridicule of people.

    Elisha Otis saw an opportunity when the people werehuffing and puffing up the stairs.

    In a couple of years , he was on a moving platform

    shouting crisply Perfectly safe Gentlemen, Per-

    fectly safe. The worlds first lift was born. Even

    more recently when the markets were flooded with

    various kinds of music players dominated by

    Sonys Walkman, Steve Jobs saw them as just

    push-buttons. Where we saw a portable and light

    music player, Jobs saw them as big and unneces-

    sarily heavy. Where we saw easy-rewind and

    play modes, Jobs saw inadequate interactivity.

    He and Apple set out to make an interactive de-

    vice and thus was born the iPod. The rest, as they

    say, is history.

    Our country has given the world many geniuses,

    academicians & leaders. But men like entrepre-

    neurs and sportsmen have been far too few. How

    are entrepreneurs and sportsmen related? They just

    think differently from the rest and have the guts to

    follow their dreams, come what may, in a field not

    much supported by the authorities in this country.

    If we still had those little pieces of paper in which

    we wrote I want to become in our primary edu-cation years, we would be surprised how much we

    have changed.

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    LONELINESSA FROZEN SOLITUDE

    ~~~WINNING ENTRY FOR THE LENTREPRENEUR WRITING COMPETITION ~~~

    BY VIKAS RANJAN JENA

    The year was 2004. It was the spring season. It was a year of change. I stood testimony to the change in gov-

    ernments, I witnessed changes in technology. I had experienced the genesis of an innovation through which I

    am able to spread my word. To be precise, it was the greatest year of my life. Why is it so special to me ? The

    answer to this lies in my boorish heart.

    A simple kid that I was at that time, I never knew what love meant. It was an alien word to me on the whole. I

    was a free bird, who was destined to succeed in life. But fate interfered as usual. This time it was in the form of

    an unassumingly mind boggling face.

    The year is 2012. I am right now travelling in a train, filled with different kinds of people, from all around the

    country. The hustle and bustle of vendors, kids playing around, youngsters roaming about, middle aged people

    discussing politics and other random things. Here I am, sitting near a window, away from the crowd and lost in

    my own tiny world.

    The winds are blowing unusually hard on my face, as if nature is slapping me hard for every mistake that I had

    committed. I am staring outside the window, looking at the vast stretches of land, which seem to be unending.

    As I slip into the black hole of my memory, I see a face, which was beyond my perception. Life after that

    would never be the same again. It is the auspicious day of Holi. As a kid, I was always excited about the very

    idea of Holi. I would play with the different colors on the streets with my friends.

    Suddenly, everything changed in front of my eyes. The weather became cloudy, I saw a face, a face which I

    would remember for a long time to come. Did I approach that enigmatic person ? Yes, I sure did, but with lots

    of hope, expectations. Did I know then, that the very person I was meeting would transform my life hugely ? If

    I had known so, I would have never set my foot forward. Everybody has got their own perception, when it

    comes to preferring people over other people. I had mine too. They say that every good thing starts with a badomen. My own started with the word Idiot

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    I sprinkled my colors on a face which was full of compassion, a face which I thought would never fade away

    so easily from imagination. Why is it so hard to describe your inner feelings ? Cant it be made more simple

    through words ? It is said that action speaks louder than words. Then why is it that words hurt much more than

    actions ? Which should be given more weight-age ? I leave this to the Almighty, if there is one. I was a born

    genius or prodigy, as they say, not in studies, neither in any form of art, but in understanding people. If compre-hending people is an art, then I am the Picasso of my times. But why did I falter that day to comprehend that

    exotic face ? Was it my weakness or was it my alter ego, stopping me from going deep within ?

    Time is a precious treasure. Once lost, you can never get it back. How do I know ? Well, it is like asking a per-

    son, who has lost a lover, how it feels. Can I describe Death ? Again, a different yet obvious answer. I see death

    in front of me every time I go to sleep. I see death as a beautiful woman. Not surprising enough that a womans

    condescending look is much deadlier than death itself. Have you ever heard of the story Narcissus ?

    Narcissus was a very handsome human being, who used to admire his beauty in the reflection of a lake every-

    day. One day, while admiring himself, Narcissus fell into the lake and drowned. Suddenly, Narcissus trans-

    formed into a beautiful flower. The lake was in grief over his death and so decided to turn him into a beautiful

    flower. When someone asked the lake why it felt so sad, the lake replied that Narcissus had always admired

    himself in the it - that meant that it was also a part of his life. In fact the lake was overwhelmed, because it used

    to see itself in him. Now that Narcissus was no more, the lake could not see itself in anyone that hurt the lake

    most. Every person in our life has a part to play, whether it be good or bad - we just need to identify who is

    worth caring for.

    I now return from a journey , which started as early as my life had been. It takes a lot of sacrifice from withinyourself. Sacrifice is all I know. While coming back, I saw a father sacrificing his seat for his two children, so

    that they can sleep happily, a mother sacrifices her food for her little one. In the same way, many people in and

    around our life make sacrifices we should never take them for granted or ignore them. You might never

    know, when the carpet might slip from beneath your legs.

    Someone asked me what loneliness means. For that very person, I would like to define it in my own terms.

    Loneliness is a virtue which when imposed by ourselves, is good to some extent but when imposed by others

    upon us, is like rotting in Hell. If I am lonely, do not take me for granted. I am, then, much more deadlier and

    shrewd ! But I am always the same for those who care for my well being !

    This is dedicated to that person in my life, who taught me how to fight alone and still survive !

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