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

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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

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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!

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