TriVikrama Temple
Tapovana - Sri Vadhiraja's place of Penance
Sri Vadhiraja Brindavana
Sodhe Mutt
Tuesday, November 20, 2007
Sodhe Visit Pics
In line with a comment on the Sodhe Visit post, here are some pics:
TriVikrama Temple
Tapovana - Sri Vadhiraja's place of Penance
Sri Vadhiraja Brindavana
Sodhe Mutt
TriVikrama Temple
Tapovana - Sri Vadhiraja's place of Penance
Sri Vadhiraja Brindavana
Sodhe Mutt
Monday, March 12, 2007
Sonde(Sodhe) Trip
Had been to a place called Sonde (Sodhe) near Sirsi over the weekend. It is about 450km from Bangalore. Must say that this was one pilgrimage I liked a lot. Sonde is the abode of Sri Vadhiraja, one of the highly acclaimed sages of the 15th century. There is a RamaaTrivikrama temple established by Sri Vadhiraja himself. Another temple hosts the Brindavana of Sri Vadhiraja and a small temple of Sri Bhootharaja.
There are other places of interest nearby like the Tapovana (on the course of the Shalmala river, where Sri Vadhiraja used to perform penance/prayers), Sri Venkataramana temple, Sri Lakshmi-Narayana temple (which is said to have established by Sri Vyasaraya, one of the contemporaries of Sri Vadhiraja; there’s also a laghu Brindavana of Sri Vyasaraya in the temple premises. It is also known for ‘thorana Ganapathi’), Sri Swarnawalli Mutt (this is a temple of Lord Lakshmi Narasimha, Goddess Rajarajeshwari and Lord Shiva) and SahasraLinga (it is believed that there are a 1000 lingas inscribed/installed on the rocks resting on the flowing river).
The best part about Sonde is that the place is quite calm and peaceful and has not been commercialized like most of the other pilgrim centres. I just hope it stays that way.
I just found this other blog, HariVaayu, which gives a host of other information on some sages, their teachings and philosophy, and other devotional stuff. Seems to be an interesting read!
There are other places of interest nearby like the Tapovana (on the course of the Shalmala river, where Sri Vadhiraja used to perform penance/prayers), Sri Venkataramana temple, Sri Lakshmi-Narayana temple (which is said to have established by Sri Vyasaraya, one of the contemporaries of Sri Vadhiraja; there’s also a laghu Brindavana of Sri Vyasaraya in the temple premises. It is also known for ‘thorana Ganapathi’), Sri Swarnawalli Mutt (this is a temple of Lord Lakshmi Narasimha, Goddess Rajarajeshwari and Lord Shiva) and SahasraLinga (it is believed that there are a 1000 lingas inscribed/installed on the rocks resting on the flowing river).
The best part about Sonde is that the place is quite calm and peaceful and has not been commercialized like most of the other pilgrim centres. I just hope it stays that way.
I just found this other blog, HariVaayu, which gives a host of other information on some sages, their teachings and philosophy, and other devotional stuff. Seems to be an interesting read!
Wednesday, February 28, 2007
Update
Its been quite a while since I last wrote;just been busy settling into my new job:). Its been really good so far and am doing things that I definitely was looking forward to post-MBA. Its been a month since I came back home and have just managed to meet some good old pals and some new ones too. Watched a movie last night after a looong time - "HoneyMoon Travels Pvt Ltd".It was just abt OK. I am not gonna write a review on it 'coz I just couldn't figure out what the film was actually trying to convey; it was just one juke box kinda thing.
I have a confession folks. It was not that I was so busy settling into my new job that I could not write. Actually, I don't seem to know what to write...I am too early in my career to write about some great Management stuff and who would be interested in reading what's happening in my life? So I am just lost midway and am trying to think about what to write. Will be glad incase any of you can help me, while I do some soul-searching. So until next time, take care and stay in touch!!
Cheers...
I have a confession folks. It was not that I was so busy settling into my new job that I could not write. Actually, I don't seem to know what to write...I am too early in my career to write about some great Management stuff and who would be interested in reading what's happening in my life? So I am just lost midway and am trying to think about what to write. Will be glad incase any of you can help me, while I do some soul-searching. So until next time, take care and stay in touch!!
Cheers...
Saturday, February 10, 2007
What should the small retailers do?
Came across this article by Sanjay Sharma in Economic Times on Friday, the 9th of Feb. This gives a sense of continuity to my previous post and stresses on STP - Segmentation,Targeting & Positioning for the small retailers. Read on...
Little details could keep the petty retails going
Kirana shop owners would do well to identify niches and focus their efforts rather than diffuse their energies across a range of products as the biggies come calling.
IF ANYONE can lay claim to the mantle of being the oldest entrepreneurs in the nation then it is perhaps the ubiquitous kirana shop owner. However, in today’s changing landscape, this segment, finds itself at crossroads. The rapid growth of organised retail is worrying the 13 million retail entrepreneurs and they are now wondering if they can survive what is called the Wal-Mart phenomenon — the death of small retailers when a large retail giant enters the area, mom-and-pop shops operate in. This happens largely because small retailers can’t match up to the lower prices, greater convenience and the vast product range offered by large retailers.
The issue is a cause of concern to policy makers as well, who are worried about the economic and political consequences of small retailers being forced to shut shop. Which brings us to the question: Can small retailers reinvent themselves and co-exist with organised large retail?
The answer to that question, according to many experts that Starting Up spoke to, is a resounding ‘Yes’. However, for that many of these retailers will need to reconfigure their business model to keep up with the dynamics of a changed landscape. Retail, it is said, is about details. And, the first task for small retailers is to take a closer look at the finer details of their product mix, distribution, sourcing, pricing and services and make choices. Small retail stores that stock everything and do not have a differentiated product mix are unlikely to survive.
Says Dharmesh Jain, owner of the Mumbai based mall, Nirmal Lifestyle, “Retail entrepreneurs with small formats need to reinvent themselves if they want to succeed. They can look at collective or bulk buying or look at a product mix which large malls can’t source or stock.”
Geoffrey Heard and Gordon Woolf have written a book on the subject called ‘Success in Store’. And they say, small retailers are closer to the customer, and big businesses like large retailers are not. They can adapt and change their products, service much quicker to adapt to consumer preferences, while big retail chain takes time to change the mix.
Many of these retailers would also do well to try and identify niches and focus their efforts on the niche rather than diffuse their energies across a range of products. Malls, thanks to their policy of bulk buying and single supplier sourcing, are often unable to cater to specific niche segments. Which means that a local saree shop in Chennai that is focused on a particular type of sarees is far more successful than the mall across the road that has half a floor dedicated to all kinds of sarees.
According to Ajeet Singh Karan, partner, Baring Private Equity, the key for small retailers is to forge closer ties with their customer and use the superior understanding to their advantage. Says Mr Karan, “They need to understand the needs of the captive customers better. Instead of trying to compete with the same products that the large stores have, they should be looking at products which are not sold by large stores.” The product offering could be a small but specialised. For example, rather than continue as a general purpose retailer, the retailer could focus on a specific segment and become a shop that sells only Chinese goods or antique furniture or vernacular books. Says Mr Jain,
Nothing is more critical in retailing than detail and therefore small retailers need to take cognizance of the neighbourhood they operate in and use it to their advantage. If the shop is located in an area that is dominated by a particular race or class then the retailer needs to configure the product mix and service in a manner so as to cash in on this uniqueness.
At present, large retail stores have a ‘wow’ factor attached to them. Consumers in metros sometimes go to malls not for buying but for a weekend outing. Which is why the ratio of footfalls to purchase is slightly distorted in India. This might change and if community activism against large retail formats happens then the situation may tip in favour of small retailers.
One of the big advantages that small retailers have besides convenience of their location is the fact that they offer credit and services like home delivery. Most consumers have to travel to a big mall. There is a cost associated to this travel, and older consumer travel less for buying, while the younger consumer will travel more. This means that a small retailer is more likely to retain customers who are old and will find it difficult to attract younger customer. Some industry observers believe that all these factors will help small retailers survive the onslaught of big retail and it is medium-tier retailers who are likely to be more affected. Retailers who had invested in large shops or supermarket but do not have the efficiency of sourcing or scale are likely to be hit first.
Says NV Sivakumar, head, consumer and retail practice at consulting firm PWC, “I do not see large scale replacement of the small stores. Consumers will tend to focus their large scale monthly shopping in the large chains but for other need-based daily shopping will still flock to the neighbourhood stores.” Sivakumar believes that it is the mid-size retailers who are likely to lose their consumer base to the large chains.
It is likely that after all this many small retailers will hope that as with everything in India the government will bail them out. They, however, would do well to remember that Japan faced a similar kind of problem in the 90’s when the government eased laws relating large retail stores, and changed its rules for urban location. And in spite of the Japanese government’s efforts to try and protect small retailers and local players the structure of Japanese retail industry changed completely with only the most inventive of the smaller set surviving and thriving.
So, whatever be the model, it’s perhaps time for the small retail entrepreneur to reinvent himself.
Little details could keep the petty retails going
Kirana shop owners would do well to identify niches and focus their efforts rather than diffuse their energies across a range of products as the biggies come calling.
IF ANYONE can lay claim to the mantle of being the oldest entrepreneurs in the nation then it is perhaps the ubiquitous kirana shop owner. However, in today’s changing landscape, this segment, finds itself at crossroads. The rapid growth of organised retail is worrying the 13 million retail entrepreneurs and they are now wondering if they can survive what is called the Wal-Mart phenomenon — the death of small retailers when a large retail giant enters the area, mom-and-pop shops operate in. This happens largely because small retailers can’t match up to the lower prices, greater convenience and the vast product range offered by large retailers.
The issue is a cause of concern to policy makers as well, who are worried about the economic and political consequences of small retailers being forced to shut shop. Which brings us to the question: Can small retailers reinvent themselves and co-exist with organised large retail?
The answer to that question, according to many experts that Starting Up spoke to, is a resounding ‘Yes’. However, for that many of these retailers will need to reconfigure their business model to keep up with the dynamics of a changed landscape. Retail, it is said, is about details. And, the first task for small retailers is to take a closer look at the finer details of their product mix, distribution, sourcing, pricing and services and make choices. Small retail stores that stock everything and do not have a differentiated product mix are unlikely to survive.
Says Dharmesh Jain, owner of the Mumbai based mall, Nirmal Lifestyle, “Retail entrepreneurs with small formats need to reinvent themselves if they want to succeed. They can look at collective or bulk buying or look at a product mix which large malls can’t source or stock.”
Geoffrey Heard and Gordon Woolf have written a book on the subject called ‘Success in Store’. And they say, small retailers are closer to the customer, and big businesses like large retailers are not. They can adapt and change their products, service much quicker to adapt to consumer preferences, while big retail chain takes time to change the mix.
Many of these retailers would also do well to try and identify niches and focus their efforts on the niche rather than diffuse their energies across a range of products. Malls, thanks to their policy of bulk buying and single supplier sourcing, are often unable to cater to specific niche segments. Which means that a local saree shop in Chennai that is focused on a particular type of sarees is far more successful than the mall across the road that has half a floor dedicated to all kinds of sarees.
According to Ajeet Singh Karan, partner, Baring Private Equity, the key for small retailers is to forge closer ties with their customer and use the superior understanding to their advantage. Says Mr Karan, “They need to understand the needs of the captive customers better. Instead of trying to compete with the same products that the large stores have, they should be looking at products which are not sold by large stores.” The product offering could be a small but specialised. For example, rather than continue as a general purpose retailer, the retailer could focus on a specific segment and become a shop that sells only Chinese goods or antique furniture or vernacular books. Says Mr Jain,
“If the small retailers define their consumer clearly, it will be possible for them to target it. Then a community of consumer can be built by product segment, geographical location or by the service offering.”
Nothing is more critical in retailing than detail and therefore small retailers need to take cognizance of the neighbourhood they operate in and use it to their advantage. If the shop is located in an area that is dominated by a particular race or class then the retailer needs to configure the product mix and service in a manner so as to cash in on this uniqueness.
At present, large retail stores have a ‘wow’ factor attached to them. Consumers in metros sometimes go to malls not for buying but for a weekend outing. Which is why the ratio of footfalls to purchase is slightly distorted in India. This might change and if community activism against large retail formats happens then the situation may tip in favour of small retailers.
One of the big advantages that small retailers have besides convenience of their location is the fact that they offer credit and services like home delivery. Most consumers have to travel to a big mall. There is a cost associated to this travel, and older consumer travel less for buying, while the younger consumer will travel more. This means that a small retailer is more likely to retain customers who are old and will find it difficult to attract younger customer. Some industry observers believe that all these factors will help small retailers survive the onslaught of big retail and it is medium-tier retailers who are likely to be more affected. Retailers who had invested in large shops or supermarket but do not have the efficiency of sourcing or scale are likely to be hit first.
Says NV Sivakumar, head, consumer and retail practice at consulting firm PWC, “I do not see large scale replacement of the small stores. Consumers will tend to focus their large scale monthly shopping in the large chains but for other need-based daily shopping will still flock to the neighbourhood stores.” Sivakumar believes that it is the mid-size retailers who are likely to lose their consumer base to the large chains.
It is likely that after all this many small retailers will hope that as with everything in India the government will bail them out. They, however, would do well to remember that Japan faced a similar kind of problem in the 90’s when the government eased laws relating large retail stores, and changed its rules for urban location. And in spite of the Japanese government’s efforts to try and protect small retailers and local players the structure of Japanese retail industry changed completely with only the most inventive of the smaller set surviving and thriving.
So, whatever be the model, it’s perhaps time for the small retail entrepreneur to reinvent himself.
FDI In Retail: Is this in India's Best Interests?
On Thursday(8th Feb) night, there was an interesting debate in CNBC’s ‘India Tonight’ show on the topic “FDI In Retail: Is this in India’s Best Interest?” Well-known Economist- Mr. Sujith Ballal, the Chairman of the Maharastra Foreign Trade Committee- Mr. Shanghvi and member of the NCP- Mr. Abhishek Singhvi tried to battle their wits out. Some of the issues discussed were:
“Would Wal-Mart’s entry into India throw life out of gear for the middle-class retailers?”
“Are there any safeguards that the Government has to protect the interests of the domestic retailers?”
And finally, “Would the common man benefit from the entry of retail giants such as Wal-Mart into India?”
I have been studying the Retail sector in some detail since a few months as part of a project work and find it quite intriguing. When I heard about Reliance’s bombastic plans to tackle giants like Wal-Mart, I was totally zapped! Whether Reliance will be a mega hit or a pauper is yet to be seen. As a developing and much-talked about economy, I think we need to grow up and accept the challenge of being pushed to compete in the global arena rather than introducing all sorts of caps on FDI and shy away from competition.
One point made by Mr. Ballal yesterday was a clincher – If prices of commodities get cheaper due to the entry of the Retail giants, then it’s the common man who would benefit from this.
I totally agree with Mr. Ballal. We cannot afford to stop the nation’s growth and hide in our backyards. Well, what if the US tomorrow says ‘No more Indians for IT in the country?’ What’s your take on this?
“Would Wal-Mart’s entry into India throw life out of gear for the middle-class retailers?”
“Are there any safeguards that the Government has to protect the interests of the domestic retailers?”
And finally, “Would the common man benefit from the entry of retail giants such as Wal-Mart into India?”
I have been studying the Retail sector in some detail since a few months as part of a project work and find it quite intriguing. When I heard about Reliance’s bombastic plans to tackle giants like Wal-Mart, I was totally zapped! Whether Reliance will be a mega hit or a pauper is yet to be seen. As a developing and much-talked about economy, I think we need to grow up and accept the challenge of being pushed to compete in the global arena rather than introducing all sorts of caps on FDI and shy away from competition.
One point made by Mr. Ballal yesterday was a clincher – If prices of commodities get cheaper due to the entry of the Retail giants, then it’s the common man who would benefit from this.
I totally agree with Mr. Ballal. We cannot afford to stop the nation’s growth and hide in our backyards. Well, what if the US tomorrow says ‘No more Indians for IT in the country?’ What’s your take on this?
Saturday, February 03, 2007
Joker's Laughters
Hey PPL,
I read a forwarded string of jokes after a long time today and did have a good laugh; thought of sharing 'em with you too. I especially liked the 'love to do' one. Thanks to Divya for sending these to me...
Husband & Wife - Why divorce?
In a divorce court a woman requested the judge: "Your honor, I want to divorce my husband." "But why ?" asked the judge. She replied, "Because he is not faithful to me." The judge asked, "How do you know ?" She replied, "My lord, not a single child resembles him."
Husband & Wife - Love Your Enemy
From his death bed, the husband called his wife and said, "One month after I die I want you to marry Samy." "Samy! But he is your enemy !" "Yes, I know that ! I've suffered all these years so let him suffer now."
Husband & Wife - Wedding Ring
At the cocktail party, one woman said to another, "Aren't you wearing your wedding ring on the wrong finger? " The other replied, "Yes I am, I married the wrong man."
Husband & Wife - Why?
" Dad, I was away for a week. Yesterday I sent a fax to my wife I'd be home that night, and when I got into my room I found my wife in another man's arms. " Why, Dad ? Tell me why!" Dad kept silent for a few minutes, then coolly said, "Maybe, Son, she didn't get the fax."
Husband & Wife - Same Service
A husband visited a marriage counselor and said, "When we were first married, I would come home from the office, my wife would bring my slippers and our cute little dog would run around barking. Now after ten years it's all different, I come home, the dog brings the slippers and my wife runs around barking." "Why complain?" said the counselor. "You're still getting the same service!"
Husband & Wife - Talk About Husband
One woman told another : "My neighbour is always speaking ill of her husband, but look at me, my husband is foolish, lazy and a coward; but have I ever said anything bad about him?"
Husband & Wife - Love To Do
A wife, one evening, drew her husband's attention to the couple next door and said, "Do you see that couple? How devoted they are? He kisses her every time they meet. Why don't you do that?" "I would love to." Replied the husband. "But I don't know her well enough."
Husband & Wife - No Answer Back
A man was telling his friends, "When my wife is infuriated, she starts shouting at me, my children and even at our dogs and nobody dares answer her." One of his friends asked."And when you are angry, what do you do?" The man replied, "I also shout angrily at the windows and doors of the house and none of them dares to answer back.
Husband & Wife - Come Home Late
A woman was complaining to the neighbour that her husband always came home late, no matter how she tried to stop him. "Take my advice," said the neighbour, "and do what I did. Once my husband came home at three o'clock in the morning, and from my bed I called out: "Is that you, Jim?" And that cured him. "Cured him !" asked the woman, "but how?" The neighbour said, "You see, his name is Bill."
Husband & Wife - Problem Father
"You looked troubled," I told my friend, "what's your problem?" He replied, "I'm going to be a father." "But that's wonderful," I said. "What's wonderful? My wife doesn't know about it yet.
I read a forwarded string of jokes after a long time today and did have a good laugh; thought of sharing 'em with you too. I especially liked the 'love to do' one. Thanks to Divya for sending these to me...
Husband & Wife - Why divorce?
In a divorce court a woman requested the judge: "Your honor, I want to divorce my husband." "But why ?" asked the judge. She replied, "Because he is not faithful to me." The judge asked, "How do you know ?" She replied, "My lord, not a single child resembles him."
Husband & Wife - Love Your Enemy
From his death bed, the husband called his wife and said, "One month after I die I want you to marry Samy." "Samy! But he is your enemy !" "Yes, I know that ! I've suffered all these years so let him suffer now."
Husband & Wife - Wedding Ring
At the cocktail party, one woman said to another, "Aren't you wearing your wedding ring on the wrong finger? " The other replied, "Yes I am, I married the wrong man."
Husband & Wife - Why?
" Dad, I was away for a week. Yesterday I sent a fax to my wife I'd be home that night, and when I got into my room I found my wife in another man's arms. " Why, Dad ? Tell me why!" Dad kept silent for a few minutes, then coolly said, "Maybe, Son, she didn't get the fax."
Husband & Wife - Same Service
A husband visited a marriage counselor and said, "When we were first married, I would come home from the office, my wife would bring my slippers and our cute little dog would run around barking. Now after ten years it's all different, I come home, the dog brings the slippers and my wife runs around barking." "Why complain?" said the counselor. "You're still getting the same service!"
Husband & Wife - Talk About Husband
One woman told another : "My neighbour is always speaking ill of her husband, but look at me, my husband is foolish, lazy and a coward; but have I ever said anything bad about him?"
Husband & Wife - Love To Do
A wife, one evening, drew her husband's attention to the couple next door and said, "Do you see that couple? How devoted they are? He kisses her every time they meet. Why don't you do that?" "I would love to." Replied the husband. "But I don't know her well enough."
Husband & Wife - No Answer Back
A man was telling his friends, "When my wife is infuriated, she starts shouting at me, my children and even at our dogs and nobody dares answer her." One of his friends asked."And when you are angry, what do you do?" The man replied, "I also shout angrily at the windows and doors of the house and none of them dares to answer back.
Husband & Wife - Come Home Late
A woman was complaining to the neighbour that her husband always came home late, no matter how she tried to stop him. "Take my advice," said the neighbour, "and do what I did. Once my husband came home at three o'clock in the morning, and from my bed I called out: "Is that you, Jim?" And that cured him. "Cured him !" asked the woman, "but how?" The neighbour said, "You see, his name is Bill."
Husband & Wife - Problem Father
"You looked troubled," I told my friend, "what's your problem?" He replied, "I'm going to be a father." "But that's wonderful," I said. "What's wonderful? My wife doesn't know about it yet.
Friday, February 02, 2007
Bangalored:)
Hey folks,
I just got Bangalored on 31st Jan '07 @ 22.15 IST. The 'INDIAN' flight was on time too:). I am already missing Mumbai and SP, but yeah, am enjoying the home food, the comfort of my cosy room, and ofcourse the cool weather here. You know what I miss the most? - 24*7 Broadband:((. Unfortunately I dont have a broadband at home. However will try to get connected soon, so will miss my Blogger Dashboard for sometime too.
Will catch up with you soon...Until then(in BIG B ishtyle->) Shabba Khyr, Shubh Raathri and Take Very Very Good Care of Yourself!!:)
I just got Bangalored on 31st Jan '07 @ 22.15 IST. The 'INDIAN' flight was on time too:). I am already missing Mumbai and SP, but yeah, am enjoying the home food, the comfort of my cosy room, and ofcourse the cool weather here. You know what I miss the most? - 24*7 Broadband:((. Unfortunately I dont have a broadband at home. However will try to get connected soon, so will miss my Blogger Dashboard for sometime too.
Will catch up with you soon...Until then(in BIG B ishtyle->) Shabba Khyr, Shubh Raathri and Take Very Very Good Care of Yourself!!:)
Friday, January 26, 2007
Salaam-E-Ishq: Review
Behold; here comes the much-awaited, much painted, much hyped up multi-starcast; launched under a much-famed production house. Wish I could say something really good about the film too. To be frank, it was one long-drawn, disemboweling, nettlesome experience to watch the meaning of ‘love’ and ‘relationships’ being fouled over and over again for about three and a half hours. Having said that, the film does take you around some of the actions and reactions, and the brain-and-heart chemistry that occurs through different stages of wanting, sensing, giving, receiving, living and relinquishing love (or sort of love). But the conundrum isn’t worth gracing the silver screen! You could probably while away your time on it at your own pace in the comfort of your living room and that too if you have nothing else to do.
The script constantly loses the audience's mindshare and fails to strike the right chord. The background score, a couple of songs, a couple of dialogues and a few purrs now and then, and the only sane couple, John Abraham and Vidya Balan, help keep the titanic from getting ‘frozen’!
Catch this movie on the big screen at your own risk!
My rating: * *
The script constantly loses the audience's mindshare and fails to strike the right chord. The background score, a couple of songs, a couple of dialogues and a few purrs now and then, and the only sane couple, John Abraham and Vidya Balan, help keep the titanic from getting ‘frozen’!
Catch this movie on the big screen at your own risk!
My rating: * *
Satisfising Concept
Most dictionaries will snub you if you search for the word ‘satisfising’. The WordWeb pops out the following meaning for this term:
This precisely has been a big takeaway for me from one of Dr. Lakshmi Mohan’s lectures.
I have always been a person who does a lot of due diligence before making a major decision and tries working out umpteen possibilities in an earnest motive to get to that ‘perfect’ decision. It has benefited me, but I should admit that I have often been left behind or have missed out on some opportunities or have got worked up.
Thinking back, over the last 10 months or so, I have knowingly or unknowingly made decisions that have done me good using the satisfising concept, although I first heard this term and understood its importance in Dr. Lakshmi Mohan’s lectures.
The single most important virtue of someone in the management cadre is the ability to make decisions that have got to be ‘good enough’ to drive the business. Many a time, things may not work out the way you want them to be. You just can’t help it – I believe Life teaches you some important lessons and you just have to move on! Ofcourse, take care not to repeat the same mistakes:).
If you look at Mc Donald’s, its CEO Jack Greenberg, in 1998 took the decision of going in for a major overhaul of all of Mc Donald’s kitchen systems in the ‘Made For You’ project that would help Mc Donald’s custom-prepare sandwiches to order. Unfortunately, the ‘Made For You’ systems crippled the service times. In the fast-paced, low-margin fast-food business; the world’s largest fast-food restaurant chain Mc Donald’s lost out to competition in terms of customer service time, satisfaction and lost a lot of market share.
Next, in 2001, Mr. Greenberg conceived ‘Innovate’, a $1 billion 5-year Information Technology project, as a means to return to the company's roots – the speediest, most consistent service in the fast-food industry. In his zeal to be ‘scud-precise’, he had an esoteric vision for ‘Innovate’ such as:
• To check if potato was being baked to the right temperature
• To check if carbon dioxide in a soda tower in any store had fizzled out
Well, little wonder that the plug was pulled on Innovate – but not before blowing up $170 million. Greenberg was replaced with Jim Cantalupo.
So what did Mr. Cantalupo do? He did a whole lot of things in terms of removing initiatives going on within the company that didn't focus on restaurants or customers. He got the organization back to focus and discipline -- speed at the drive-through, friendly service, marketing leadership, product innovation (improving food, adding more to the menu, introduction of healthy food, etc). And yes, Mc Donald’s came back strong and started peaking again!
Do you think Mr. Cantalupo’s decisions were esoteric? I think they were just more logical, and more importantly ‘satisficing’. To summarize, Mr. Cantalupo stuck to the basic principle of business – ‘Customer is the King; give him what he wants and stick to your DNA’.
Coming to the bottom line, I urge you to try out the ‘satisfising’ concept in your daily life and see if it makes a difference! If it does, then dont forget to write back :).
Decide on and pursue a course of action satisfying the minimum requirements to achieve a goal
This precisely has been a big takeaway for me from one of Dr. Lakshmi Mohan’s lectures.
I have always been a person who does a lot of due diligence before making a major decision and tries working out umpteen possibilities in an earnest motive to get to that ‘perfect’ decision. It has benefited me, but I should admit that I have often been left behind or have missed out on some opportunities or have got worked up.
Thinking back, over the last 10 months or so, I have knowingly or unknowingly made decisions that have done me good using the satisfising concept, although I first heard this term and understood its importance in Dr. Lakshmi Mohan’s lectures.
The single most important virtue of someone in the management cadre is the ability to make decisions that have got to be ‘good enough’ to drive the business. Many a time, things may not work out the way you want them to be. You just can’t help it – I believe Life teaches you some important lessons and you just have to move on! Ofcourse, take care not to repeat the same mistakes:).
If you look at Mc Donald’s, its CEO Jack Greenberg, in 1998 took the decision of going in for a major overhaul of all of Mc Donald’s kitchen systems in the ‘Made For You’ project that would help Mc Donald’s custom-prepare sandwiches to order. Unfortunately, the ‘Made For You’ systems crippled the service times. In the fast-paced, low-margin fast-food business; the world’s largest fast-food restaurant chain Mc Donald’s lost out to competition in terms of customer service time, satisfaction and lost a lot of market share.
Next, in 2001, Mr. Greenberg conceived ‘Innovate’, a $1 billion 5-year Information Technology project, as a means to return to the company's roots – the speediest, most consistent service in the fast-food industry. In his zeal to be ‘scud-precise’, he had an esoteric vision for ‘Innovate’ such as:
• To check if potato was being baked to the right temperature
• To check if carbon dioxide in a soda tower in any store had fizzled out
Well, little wonder that the plug was pulled on Innovate – but not before blowing up $170 million. Greenberg was replaced with Jim Cantalupo.
So what did Mr. Cantalupo do? He did a whole lot of things in terms of removing initiatives going on within the company that didn't focus on restaurants or customers. He got the organization back to focus and discipline -- speed at the drive-through, friendly service, marketing leadership, product innovation (improving food, adding more to the menu, introduction of healthy food, etc). And yes, Mc Donald’s came back strong and started peaking again!
Do you think Mr. Cantalupo’s decisions were esoteric? I think they were just more logical, and more importantly ‘satisficing’. To summarize, Mr. Cantalupo stuck to the basic principle of business – ‘Customer is the King; give him what he wants and stick to your DNA’.
Coming to the bottom line, I urge you to try out the ‘satisfising’ concept in your daily life and see if it makes a difference! If it does, then dont forget to write back :).
Starting Up - Post3 - What Do Venture Capitalists Want?
Seven Tricks To Sweep Mr Moneybags Off His Feet
• Value proposition: Highlight the key differentiators in end-user benefits, not technical superiority. Tell Mr VC why would consumers choose you over others.
• Business model: Talk about how you will make money from this business opportunity. Just showing an excel sheet with 5-year detailed projections is not going to help
• Customer: Study and understand the target customer thoroughly. Address the customer’s problem precisely. This reflects your clarity about the business opportunity
• Team: Articulate why your team is the best suited to implement a particular business opportunity
• Market opportunity: Investors like big ideas with big markets. Be clear about who is going to buy your product/service and how much they would pay for it
• Risk factors: Know the market, financial, business model and execution risks to your plans
•Competitive landscape: Remember that competition is not just those providing a similar solution to yours, but all those addressing the same customer need through variety of approaches
• Value proposition: Highlight the key differentiators in end-user benefits, not technical superiority. Tell Mr VC why would consumers choose you over others.
• Business model: Talk about how you will make money from this business opportunity. Just showing an excel sheet with 5-year detailed projections is not going to help
• Customer: Study and understand the target customer thoroughly. Address the customer’s problem precisely. This reflects your clarity about the business opportunity
• Team: Articulate why your team is the best suited to implement a particular business opportunity
• Market opportunity: Investors like big ideas with big markets. Be clear about who is going to buy your product/service and how much they would pay for it
• Risk factors: Know the market, financial, business model and execution risks to your plans
•Competitive landscape: Remember that competition is not just those providing a similar solution to yours, but all those addressing the same customer need through variety of approaches
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