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Vol. 36, No.1January-~arch,2012
TheJournal forPractising
Managers
ISSN 0970-3365
IJI)le)c. IJllilC.lrl'l
&DECISIONIndian Institute of Management Calcutta
Special Issue on Finance.Guest Editors: Ashok Banerjee. and B. B. Chakrabarti
1£~1,~1.f -~'
Research Papers ". \ ~ ,~ ~ \1-.Behaviour of stock return volatility in India: A study ~ th~~~ntext of the USsub-prime crisis
Ash Narayan Sah
Determinants of premiums of Indian ADRs: An empirical investigation
Kaushik Bhattacharjee and V Nagi Reddy
Cross-Sectional Dispersion in the Indian Stock MarketS. Maheswaran and G Balasubramanian and CA. Yoonus
Determinants of overnight indexed swap rate: An empirical study on theIndian market
Monomita Nandy and Suman Lodh
Securitization of longevity and mortality riskTomas Cipra
3
5
26
39
68
102
116
March 2012 VOL: 16, No.5 Rs.40
CONTENT7 Challenges of Hotel Management
Rajeev M Pandia and Shaili R Pandia describe how hotelmanagement has evolved into an important discipline,attracting an increasing number of talented professionals.
Cover Story: Hotels
12 Indian Vs Foreign HotelsSushma Ramachandran narrates her experience to prove thatIndian hotels can easily be counted among the world's best.
15 Careers in Hotel ManagementB & M Correspondent investigates how there is no other careerbetter than one in the hospitality sector.
oChallenges in Sale Force 22
Kartikeya Batra finds out how a sales force can achieve the highestlevels of efficacy and effectiveness amongst all its members.
idingTime-Proof Brands andBranding 27
Harsh V Verma analyses how a brand can achieve permanencewhen a consumer is impermanent.
o kR view29 Howto impact the Powerful
Our reviewer describes what Suhel Seth tellsin Get to the Top how to know the famous.
C se StudyProblems in Merger Integrations 32
Aditya Johari analyses the causes of culturalconflict when two companies merge
You Have it in You And So do OthersWhat Then Makes You
TRE (ROSEN ONE?Logen:
www.cat1 OO.in
Business & Management Chronicle I March 2012
no v37 RBIcuts CRRto boost Growth
B& M Business Correspondent reviews the changes inthe monetary policy.
42 Prospects of India's growth in 2D12B & M Economic Correspondent analyses the forecastabout the Indian economy by the World Bank and United.
REGULARS06 You 8 We
56 Business Scenario 69 Campus Buzz
66 71 AstrologyBrewing Tea the Perfect Way
The last PageB & M Team finds out the best way 72to have the perfect cup of tea.
Biz-Ski S
56 learning Chinese-l[JPriti Mehta tells you how to converse when yougo to a bank in China for money exchange.
Job Opportunities in India 45B & M Economic Correspondent reviews the World Bank Report
on creating more and better jobs for a growing labour force.
Talent Management: The Need of the Day 48Rashmi Agarwal analyses the need for companies to manage
How to Create a leadership legacy? 53B & M Correspondent describes how your leadership legacy is the
conglomeration of the difference you make in people's lives.
~1f]-l§*~)Xl! .(let's leam Chinese together!)
MT75 -108
March 2012 I Business & Management Chronicle ••
contents
not just business as usual
14 Don't blame me
AT THE FRONT ...
11the MT diaryHoward Davies is in France for thedowngrade, Chicago for the T-shirt
12 brainfoodThe career of Specsavers founderMary Perkins in hindsight; the'What the hell' effect; convert thesceptics; quit the blame game,advises Alastair Dryburgh; decisionsof pieman Jon Simon; Apple to thecore; putting your reputation online
21 luke johnsonWhy I can't resist the countryside- but kept away from the cosmeticsurgery business
22 denise kingsmillMy escape to New Zealand, anearthly paradise with problems
25 booksSimon Caulkin feels the urgency inGary Hamel's What Matters Now;Julian Birkinshaw on Bob Frisch'sunsettling Who's in the Room?;Loretta Napoleoni's China-watchingMaonomics gets a scepticalresponse from Linda Yueh
www.managementtoday.com
j
50 Sony hasn't got it taped
46 Doyenne of networking
FEATURES ...
30 THE MT INTERVIEW: TIM MARTIN 8 mt travelThe quv'nor of pub chain JD Wetherspoon is one of Alexander Classen on snakes andcustomers, he spends so much time on the front line. ~~~~~.~~~~~~ planes; the Jaguar XF dieselnew outlets as his rivals are shutting their doors, his reven£lbn, but profits are getting harder to serve up. By Andrew Saun 61 letters and blogs
A sporting chance for any career
, TTHE BACK ...
62 in my opinionPublic service reform requires newskills, says Sir Howard Bernstein
65 what's your problem?How should I help my son to find ajob? Jeremy Bullmore advises
66 first-class coachThe overworked can lighten theirload, says Miranda Kennett
74 the sharp endDave Waller on Dixons' repair circuit
THE 'HOW TO' SECTION
38 HAVE A HAPPY AND PRODUCTIVE OFFICELook after your staff and watch your profits grow, says Henry Stewart.
42 HAVE GREAT IDEASAsking the right questions matters more than inspiration.
45 GROWLeading entrepreneur Luke Johnson shares the secrets of expansion.
46 NETWORKJulia Hobsbawm on why social skills are worth as much as an MBA.
48 SURVIVE A CRISISSort out your crises from your problems and there's no need to panic.
49 STAY FOCUSEDFive steps to getting to the end of your to-do list.
50 THE UNRAVELLING OF SONYNatural disasters have swept away Sony's profits, and its silo mentality andslowness to innovate have allowed rivals such as Samsung and Apple toovertake it in the gizmo game. Has CEO Sir Howard Stringer got enoughtime left to turn it around? Bryan Gruley and Cliff Edwards report.
February 2012 mt 3
Enga e custorners.on stoci~.1m,~ediawllr,ou sounoln 11\8 a moron
ore r n ur.TheImpact1 o:L h- 1eacers Ip
With a zero-tolerancewhining policy and a focus on fun,
Barbara Corcoran steeredher company to a
$66 million payday.
+INNOVATIONINDESIGN:Trendsand technologiesdriving the wayyou approacheverything fromweb developmentto productmanufacturing
.,
60S'L08
E6LdLon
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MARCH2012 _ CONTENTS_................
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PAGE 12LJ
54 THE MASTERS Guru shmuru. The best leadershiplessons come from those who have reached-and stayedat-the head of the org chart. By Christopher HannPLUS: Barbara Corcoran's rainbows-and-steel-toe-boots management style, a CEO square-off and some leadership literature.
28 SPEED DEMONS
After an unsuccessful~ collaboration with Harley-: Davidson left him on empty.~ Erik Buell gets his vroom~ back with his own company,D a showcase for innovative~ bikes built for speed.o
By Jennifer Wang
PLUS: DESIGN DIRECTIONS
Looks matter: Our report onthe trends and technologiesthat are driving the designworld (and the ways forward-thinking entrepreneurs areutilizing them).By Caroline Tiger
PLUS+: Awinery's website
makeover and how evensmall businesses can employbig design strategies.
50 RADICALS & VISIONARIES
Should you follow your gutor your brain? Professor SteveBlank and behavioral econo-mist Kay-YutChen weighin on the best approach tolaunching a business.By Jennifer Wang
82MOB MONEY
With strategic campaignsand carefully crafted profiles,entrepreneurs are usingcrowdfunding sites like
Kickstarter and IndieGoGoto snag big-time startup cash.By Gwen Moran
98 MEET THE UPSTARTS
The 56 companies on our listof Top New Franchises areproving they can hang withthe big guys.By Tracy Stapp
88 NEW MARKET
OPPORTUNITIES
With a strong mall culture,a growing interest in Westernbrands and the opening ofmarkets that were previouslyoff-limits, the Middle Eastand North Africa region isproviding burgeoning oppor-tunities for U.S.franchisors.
.~~.J~s.o.~.~~1~~ 3.4. .ON THE COVER: BARBARA CORCORAN PHOTOGRAPHED BY RANDY HARRIS
March 2012 Entrepreneur 11
Win Personal Coaching Sessions with Darren Hardy and Tory Johnson!
2011
SUCCESSAchiever
of the Year
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