Monday, June 23, 2008

Hiring mistakes

So that’s the first reason you need to face into hiring mistakes quickly. Sure, maybe one individual’s poor performance isn’t going to sink the company. But when your “mistake” isn’t doing his or her job, it invariably puts a strain on the whole team. It makes work harder for everyone else, not to mention the resentment an underperformer builds in those covering for him or her, or toward you for the miss. And yet, as your question implies, too many managers twist in the wind for months before acting on hiring mistakes. That’s just fatal! They’ll tell you they’re hoping the hiring mistake’s performance will improve with time and experience. They might also moan about the time sink required to find someone new and bring him up to speed. But the real, unspoken reason most managers don’t act is that they fear looking stupid and worry that admitting a hiring mistake is career suicide. Ironically, in any good organisation, that logic is exactly backward. There, managers are rewarded when they acknowledge they’ve hired someone who is wrong for the job and swiftly repair the damage. And they get even more positive buzz for the operational improvements that occur when the right person is finally in place. Indeed, facing your mistakes – and fixing them boldly and prudently – builds a manager’s credibility. Hoping against hope that they will go away does the opposite. Now, it is important to note that “boldly” doesn’t mean harshly. Remember: You made the error. Don’t blame the recipient for it.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Friday, June 06, 2008

VICKS

Some Kich Kich of late due to competition, but still clings on minds of the customers
Not many would have forgotten the brilliant brand imagery used in that Vicks ki goli lo kich kich door karo advertisement? The smart positioning has ensured that the brand becomes a part of homes and lives of millions of Indians. The dip in its ranking seems to have followed an aggressive strategy by competitor Amritanjan, but Vicks continues to be the market leader in its category. Over the years, Vicks has launched various heart-tugging ad campaigns that have struck an emotional chord and left an impact of love and care for which the brand stands. Some of which are Vicks VapoRub’s “Happy Birthday Mummy”, “Chotu ko sardi ay jayegi”, the Vicks VapoRub “Doll”, et al. The umbrella branding strategy for its products has helped it to create that unique trust for all its individual brands. The exclusive shapes it uses for its inhaler, cough drops and caplet provides the differentiating factor for its products. The company also carefully chooses attractive packaging as a branding strategy for its products. According to a P&G spokesperson, “Ever since its launch in India in 1952, Vicks was strategically positioned as a child cold rub, and all communication to consumers, employees, trade etc. has always centred round the mother child loving relationship.” The brand surely reigns supreme on the trust parameter, which no competitor can take away from Vicks.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Tuesday, June 03, 2008

CITIBANK

Citibank’s trump card has been its shift of focus from niche to mass
When in Rome, do as the Romans do; when in India, do as the ‘masses’ prefer! While a focused domestic strategy helped in better understanding of the Indian consumer and customising of products, a ‘go mass’ strategy is what really made this financial services brand shine (the reason for its grabbing a place in the rankings this time). In another effort to reach the masses, Citibank has now joined hands with SKS Microfinance to invest $44 million for an initiative to bring greater financial inclusion to India’s poor. And what else is Citibank’s claim to fame? This local bank with an international perspective has built a track record of outstanding business practices, thereby consolidated its position as one of the most innovative financial services provider globally and in the country, besides building a strong franchise network and relationship with customers. And that’s what enables it to deliver robust growth figures quarter after quarter. Earlier this year, Citibank underwent a corporate branding exercise in which it announced a unified, global brand identity under the brand name ‘Citi’ and red arc logo. “It speaks to our exciting future as a highly connected, responsive, and profitable global leader in financial services,” said Charles Prince, Chairman, Citibank. From high end to services directed to the middle and low income people, Citi is truly going places.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative


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