Commodity derivative trading set for rapid expansion in India!

Posted on June 18, 2020Categories Advanced Marketing   Leave a comment on Commodity derivative trading set for rapid expansion in India!

Despite witnessing a terrible phase internationally due to the pandemic, India is now one of the largest commodity trading markets in the world. Globally, the size of the commodity derivatives market is many times larger than the underlying physical commodity trade. As per reports, the Indian commodity market will generate tons of revenue as well as employment in the near future.

However, SEBI; the share market and the commodity market watchdog has recently initiated several measures to stimulate active trading interests in commodities. Steps like strengthening of exchanges and intermediaries through policy changes, adding new entities like mutual funds and Portfolio Management Service (PMS), has increased the scope of commodity trading in the country. These measures by SEBI has removed the obstacles and made it a viable platform for genuine participants.

These steps have seen a giant leap for commodity market reform which is in line with the transformation witnessed in the Indian stock trading strategy. So, if you want to learn more about Commodity trading as well as currency trading, BSE Institute Ltd offers a course on this. To know more, please visit: http://www.bsebti.com/…/certificate_program_on_currency_and…

India emerges as the world’s second-largest FinTech hub!

Posted on June 1, 2020Categories Advanced Marketing, MBA   Leave a comment on India emerges as the world’s second-largest FinTech hub!

The markets across the world are badly hit due to the COVID-19 pandemic, but the one sector which is flourishing at present in terms of both business growth and employment generation in FinTech! The FinTech software and services industry is estimated to touch $45 billion at a CAGR of 7.1% throughout the globe by the end of 2020. As per NASSCOM, India has emerged as the world’s second-largest FinTech hub (after the USA) generating revenue to the tune of $ 2.4 billion.

Our nation is a fertile ground for the Fintech revolution and operates more than 2000 start-ups. One major reason for the massive growth of Fintech is blooming in our nation is the grant announced during the 2019-20 union budget. Finance Minister Nirmala Sitharaman declared that businesses with an annual turnover of INR 50 crore would have to use digital modes of payment, like Aadhaar Pay, NEFT, BHIM, etc, and if they do, they won’t bear additional charges. The government’s decision has undoubtedly benefitted the domestic Fintech segment!

If you are interested to learn more about this rapidly growing field, BSE Institute Ltd offers courses on Fintech. Please visit http://mumbaiuniversity.bsebti.com/masters_in_financial_tec…

How does innovation work? Is it helping your brand or is it killing it?

Posted on October 9, 2017Categories Advanced Marketing   Leave a comment on How does innovation work? Is it helping your brand or is it killing it?

In the words of the late tech titan and entrepreneur Steve Jobs – “Innovation helps you distinguish between a leader & a manager”. Although we all wish to be like him, we always wonder how? Where do we go, what should we do and what is really that “ahaa” moment that will set us up for success? If you are thinking about these, you are completely off track and far far away from reality.

The foundation for any great company, product and brand is a clarity of purpose and a crystal clear plan to achieve it. Steve Jobs passionately believed that technology can solve most human problems, even ones as complex as cancer! It was his commitment to provide tools to those who shared his vision, that helped him design computers, laptops and other products to support and better the human race.

It was this clear focus in his life that helped him design the best products that can support all those people who want to use tech to solve other challenges that the human race faces. This clarity of purpose and a laser like focus on its mission was something that most tech giants lacked back then and they lack it even today. Most of them focus exclusively on maximizing their profits and shareholder value – without thinking about going beyond the ordinary.

A great example for this is Sony electronics of Japan. Sony was a huge player in the music industry during the 1990s and Apple is believed to be responsible for it losing customers. A lot of people who listened to music using their walkmans and cassette players, abruptly shifted to the iPod once it was launched. The irony of this situation is that Apple was not the first to come up with this product – it was Sony which had come up with an MP3 player like music device, but it was shelved as they believed, it would kill their walkman! The same thing happened a few years later, but this time, it was a rival with the same product.

Yes, innovation can kill your brand, if you don’t know how to handle the new product or research. An idea whose time has come, cannot be resisted and it is bound to make an impact, whether anyone likes it or not.

Another interesting example is of the automobile company Volvo. Auto companies spend a lot on research and development and they keep coming up with new technologies for their car models in order to be perceived as the best auto company. They are also very careful & competitive with respect to branding, marketing & sales as one wrong decision can be a huge loss. A failed car brand or a model will result in them having to make substantial changes to their manufacturing facilities and huge write offs in their ad and marketing spends. The losses areeasily to the tune of a few hundred million Dollars.

Volvo has been selling cars since 1927 & it celebrated its 90th anniversary this year. Everything that the company does revolves around Safety. They are always careful to highlight the fact that they don’t sell cars. They underscore their belief that they are in the business of providing a safe family lifestyle. Safety is all that they revolve around. It is a focus on this core value that has allowed them to come up with unique products that have appealed to consumers for over a century.

Volvo is an excellent and an age old example of innovation and its successful implementation because it is focused on the core values of the company.

As mentioned earlier, innovation is not exactly difficult, but its implementation is what vexes most company managements. A lot of examples of good tech companies going bankrupt have filled the pages of newspapers in the past few years. All because, they did not have a clear focus or an idea as to where this product can be best implemented.

This challenge is faced daily by many many managements, before investing a significant amount of funds in a new product. It is not always possible to take the best possible decision, but it is possible to learn from the decisions that others have taken over the years. BSE Institute Ltd (BIL) offers a one year course in Advance Management for senior industry professionals who are in line to lead their organizations. The course curriculum dwells on major challenges, such as, innovation implementation, which the senior managements face regularly.

Innovation is a lot like a new business. You need to look before you leap, but it is next to impossible to know everything that can or will happen after you leap. Best of luck to you

A Billion Dollar question – Do you understand the data that is shared with you?

Posted on October 7, 2017Categories Advanced Marketing   Leave a comment on A Billion Dollar question – Do you understand the data that is shared with you?

Beauty lies in the eye of a beholder! This could be one thing that may not be related to data in anyway – but it actually is! Business data is only helpful when you are able to observe and point out the useful bits of information. Else, it is of no use! It is truly like finding a needle in a haystack; but then that’s what you get paid for!

In an age where every movement of your finger is a goldmine of data, every little click or tap on the phone screen signifies your feelings towards a product or brand, understanding data/ big data in business has become as important as breathing! Every bit of this data is not useful, but it still is the reason for a host of business decisions that a brand manager or a CEO takes. These are related to the kind of ad to be run, the kind of product to be launched, the markets that have to be targeted or if a product has to be phased out of production.

This is the reason why many large companies, today have thousands of employees working in their data centres to get the best insights that help them steal a march over competition.

FMCG companies are excellent examples for this. FMCG companies sell many products at the same time –soaps, shampoos, food products, etc. How do they analyze which products are doing well? Which geographies serve them well? The sales data may not be the only way to look at it as they sell directly to the wholesaler. This data could be fudged to benefit a certain brand or a wholesaler. Third party research and analytics firms help them to obtain and analyze this data. Third party providers provide data right down to the street level. This allows companies to analyze every single pocket of a city and arrive at a conclusion as to why they are successful or unsuccessful. The data shared with the CEO, will be for a certain geography and in a country like India – it is a lot! The amount of data that one gets is gigantic and it is easy to get lost under its weight. This is exactly why, knowing the right levers to pull, separates the leaders from managers.

Another great example is E-commerce firms. E-commerce companies which operate via websites and mobile apps have their own in house data analytics teams that mine this data and analyze each and every individual who has visited their site. They can understand the reasons for a consumer to shop or skip their platform with his online behaviour. This allows them to target them with better offers and deals in order to make them loyal customers.

When analytics is clubbed with Artificial Intelligence, it gives an analytics professional the opportunity to do all of this automatically, .i.e. without any human interference. For AI to work smoothly, it still requires a certain amount of human supervision, .i.e. for setting the objectives that the software has to meet.

Hence, it is extremely important for executives (especially the ones who are at the top of an organization) to understand data and its uses. Even if one is not an expert, expertise can be gained in a short period of time. BSE Institute Ltd (BIL) offers a 12 month Advance Management Program. It is designed specially for senior industry professionals. The course is focused on subjects like data analytics, corporate finance, blue ocean strategy, etc. that are used regularly by senior professionals of large companies. You can learn more about it here.

Data has now become an integral part of all our lives and there is no future that can be imagined without it. Until, we get a solution for automating data analytics, doing it manually, seems to be the only option. Hence, lets try to be the best that we can.

Why do MNCs hire economists? What impact do they have on their business?

Posted on October 4, 2017Categories Advanced Marketing   Leave a comment on Why do MNCs hire economists? What impact do they have on their business?

Economists are usually understood to be people who are working with Governments and International bodies like the United Nations to churn out huge quantities of data that talks about the conditions of human life. These reports, which are largely ignored , contain a large quantity of data that is usually difficult to interpret and understand. In reality, the work done by economists defines the strategies that are decided by companies.

The information that an economist has is truly priceless. For a corporate that is strong in a certain geography (in a state or a country or a continent) and aims to expand to another major geography, it is the economist who does the first survey about which market is most suited for them. An economist assesses the reasons for a product’s success in a market. He maps the per capita income, the state of the economy, the demand & supply situation of basic goods in the country/ market. An economy with similar market conditions is what an economist suggests for the company’s expansion.

On identifying the conditions in which our product has been successful, an economist tries to locate other markets with the same market conditions, thus, setting up the brand for success in that market.

A certain product/ service may be successful in a market for various reasons, but it primarily depends on the income of the citizens and the health of the economy. People who have a lot of disposable income are the only ones who can spend. Economies which are in good health are the only ones, which will allow luxury items to be sold in their markets. Similarly, our products have to be focused only on those markets which can satisfy the above conditions.

A great example for this is FMCG majors like P&G, HUL. Consumer products like soaps, shampoos, detergents, toothpastes are used by consumers across the World. However, most people choose the brand according to their budget. A well off person chooses a premium brand, while a person from a lower SEC chooses a mass market brand. For an FMCG company, it is important to assess if the market has a lot of people who can afford their premium brands and thus allow them to launch these new brands. This assessment is done by economists – who highlight the right markets for a brand to be launched in. For large countries like India, China & Brazil identifying the exact state/ market for launching the product is important as even the largest state is equal to a small nation.

Hence, an economist allows corporates to target the exact market and consumers who will be willing to pay a premium for their brands and earn more.

A lot of market studies are conducted by corporates to help economist gather this data and identify the next markets where these products can be successful. The senior management of most organizations is full of people who have worked their way up from sales & marketing. They may not always be conversant in the data being shared by economists. However, it has become necessary for all to understand the data &know how of this industry.

BSE Institute Ltd (BIL) offers a 12 month Advance Management Program (AMP) that is focused on helping senior managers transition to the board room. It teaches subjects related to consumer behaviour, market economics, blue ocean intelligence, etc. that are necessary to be a CEO. You can learn more by clicking here.

Business economics, market economics may all sound technical and difficult, but from a business perspective, it is useful to first understand a market in detail and then invest in it. It is much cheaper to go through data and then take a decision about launching our product than to launch the product and then wait for results. The latter can be a very expensive strategy and could result in heavy losses.

It is always better to look before you leap, but with economists – you look & measure before you leap!

 

What’s the difference between a startup & a company?

Posted on September 29, 2017Categories Advanced Marketing   Leave a comment on What’s the difference between a startup & a company?

One question that has always intrigued a lot of us is why is a new company called startup and why not an organization or a company or any normal term used for an enterprise. The reason is simple – maturity! No, we do not mean maturity in terms of the age of the founders or their startup. We refer to their thoughts, their plans and their thought process. This is primarily the reason for a company’s success or failure. What truly distinguishes a company from a startup is the plans that have been made by the founder. These plans define the future course of action and it is this that determines the seriousness of the company. A company will always focus on building a positive cashflow and acquiring more customers, while a startup is usually still trying to find its feet.
Any company is heavily dependent on the vision and the plans made by their founders/ promoters/ senior management, etc. This vision is responsible for attracting talent, consumers, investors, etc. to the company. In the words of legendary Billionaire Uber investor Chris Sacca, “Having a great idea is simple, but executing it is what makes or breaks a company”. It is the ability of people like Mark Zuckerberg, Steve Jobs, Larry Page & Sergey Brin to convert their ideas to excellent products, at a very young age, that makes them extraordinary. Their achievements have not been matched so far and many never be matched by anyone. It is this ability that sets them apart as individuals and as professionals. It is the force of their vision and the execution of this vision that brings in the riches.
A clear thought process, a clear mission statement and a resolve to make the lives of human beings simpler and more efficient is what distinguishes a startup from a company. By having a lazer like focus and a will to implement your ideas, one can definitely bring their ideas to life.
The first step in this process is to identify a problem that affects a lot of people and then coming up with a solution that can help you to solve it. Please keep in mind that you must be as systematic as possible. Being systematic and detailed is what makes it easier for employees and investors to follow what you are saying or doing. The best way to do this is to assemble a team of like minded individuals who are committed to the same cause. Delegating work to these people with specific goals is what will allow you to focus on each and every detail that you want to excel at. This lets one person be incharge of every important part of a product.
For example: Apple has a separate division for their hardware and the software. Within hardware, you have different people responsible for each product – TV, Mobiles, Laptops, Computers, Watches, etc. Underlying these are separate teams of people who manage every little detail – the size of the phone, the type of screen material to be used, the buttons to be used, the battery types & features, the camera, the microphone, the headphones, handsfree options, connectivity with other devices, speakers, etc. Similarly, for the software division, you have different teams handling every detail like – Siri, the operating system, the mobile apps, the iTunes, etc. Only when each of these various details have been perfected can one claim to have a perfect phone or a laptop. Only when Job’s vision of this perfect device came alive, could he claim to offer the best product in the World.
It is this attention to detail that allowed not just Steve Jobs, but also Elon Musk, Mark Zuckerberg, Sergey Brin, Larry Page and Jeff Bezos to offer some of the best products in the World, attract the best employees and attract long lines of consumers & investors.
This genius or the X factor is nothing but a systematic mind that aims to make the lives of human beings better. This is what truly sets apart iconic products and world class companies. One may feel that it’s a tough thing to imagine that in India, but we do have good Indian companies like Reliance, Sun Pharma, PayTM, ISRO, etc. which are using this system to come up with excellent products and make a splash on the world.
BSE Institute Ltd (BIL) offers you a chance to learn about entrepreneurship and management from the best. It offers a 12 month Advance Management Program (AMP) that lets you learn about complex management techniques from senior industry professionals.
Innovation, management and sales are three tough things that a founder has to do on his own not only to survive, but to excel in the field of his choice. For people who wish to be examples like the one suggested above, it is possible, provided you have the right attitude and the right vision. Best of luck.

Change is the only thing that’s permanent! Keep innovating to keep changing!

Posted on September 20, 2017Categories Advanced Marketing   Leave a comment on Change is the only thing that’s permanent! Keep innovating to keep changing!

Very sure that all of us listen to commentators talk about innovation on a daily basis. The key question that a lot of us have is how relevant is it to us in our daily professional lives? Why should we innovate when, your company may be earning a lot of revenue from the current portfolio of products. As a senior industry professional, how do we direct the organization in a direction to innovate and stay ahead of our competition?

Innovation is of 2 types – product innovation and process innovation. Product innovation is about inventing new products and process innovation is about better marketing/ sales/ management strategies. Indian companies have generally been good at process innovation and have relied on European countries for product innovation. However, it is product innovation that really matters as it is products which attracts consumers to a company.

Product innovation is taken very very seriously in western countries – especially in America. Two of the most important business leaders of this century – Steve Jobs and Jeff Bezos have put it beautifully as to why innovation is important.

“A lot of companies have chosen to downsize, and maybe that was the right thing for them. We chose a different path. Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets.” – Steve Jobs, founder Apple Inc.

“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.” —Jeff Bezos, founder Amazon.

One common philosophy of innovation that has helped them to do 2 diametrically opposite things –

  1. Get consumers to pay more for good products and
  2. Give the lowest prices possible to the consumers!!

Thus, innovation is one of the best strategy that keeps your company recession proof and can help you stay ahead of your competition.

Similarly, having a culture of innovation in your company can help you achieve a goal that you have set for yourself. Please note that innovating is not just about setting up an R&D division, but rather it is about having a mindset that focuses solely on making our consumers’ lives better. When people set out to innovate, the ultimate goal is to come up with products that creatively destroy existing products, .i.e. a new product that leaves the existing products obsolete and useless. This is a scenario that you want your competition to face always and it can only be achieved if your organization has a sound culture that promotes innovation.

Having said this innovation is extremely difficult to achieve and implement. You need some of thee best minds in the World to innovate. Inability to have competent engineers and product gurus is a major handicap and that can hinder your progress significantly.

The second challenge is implementation. Coming up with a good product is important, but understanding how one can fit it in the current portfolio is a major challenge. This is a tough call as that product may be your company’s main cash cow and replacing it with something completely different is tough.

The challenge here is that your competition can also come up with a similar product and its launch could push you out of the market. The opposite of this could also be true. You may launch this product and still despite all the research indicating otherwise, the product fails royally and it results in a huge loss.

In both the cases – it is the CEO who will be held responsible for not managing the situation effectively. There can be no correct answer for these types of situations. Every case will be different and has to be analyzed in a different way. However, one thing which can be done is to be prepared for such situations, by being updated about these situations. One must keep reading about these as it helps you to understand the impact of the actions taken by CEOs.

BSE Institute Ltd (BIL) teaches subjects about implementing innovation in its Advanced Management Program (AMP). It is a course designed for senior industry professionals of major companies. You can learn more about it on their site.

Innovation is tough work. Sometimes, people spend their entire lives without making significant progress and finally quit, only to see someone else use their research in an entirely different way. It is finally all about what your point of view about it is and how you manage to handle it. As someone aspiring to be a CEO, it is your eye for innovation that distinguishes between a leader and a follower.

 

 

Spending more on CSR is good for getting more business!!

Posted on September 18, 2017Categories Advanced Marketing   Leave a comment on Spending more on CSR is good for getting more business!!

No, there is nothing wrong in what has been written in the headline. Spending money on CSR (Corporate Social Responsibility) projects does get a Corporate a lot of business! CSR activities are a way for Corporates to thank and give back to the society which has bought their products and helped build their organization. CSR projects are not-for-profit and are usually not related to the core business of a company.

Common CSR projects that we hear about are – building schools for children, providing basic healthcare facilities for the underprivileged, free skill training/ educational camps, educational scholarships for children, sports scholarships for children, etc. Every effort is made to enroll people who need society’s support to come out of the vicious circle of poverty. Most organizations appoint a CSR ambassador in order to spread awareness about their activities. All the work done through these activities is publicized in the media in order to ensure maximum participation of the masses.

The Corporate’s major aim is to get brownie points for all the work that they are doing and come out smelling like roses. However, with a smart strategy, one can easily go beyond and do more – get more business. There are some pockets of a country, state, district or a city that may have traditionally been weak markets for the company. No amount of marketing and smart sales strategy is able to crack the market for them and their competitors continue to rule these markets. This is where CSR activities can help a company make progress.

Most advertising/ marketing campaigns are based on tugging the heart strings of our consumers. CSR can be an unofficial ambassador for the company. When we promote a CSR activity, we are polishing our brand with all the positive vibes generated from the activity. A brand can easily appeal to the emotions of people and thus generate a sympathy wave for itself in that geography. People may become more open to looking at that brand, they will be more open to trying this new product due to these new feelings. All in all – this is exactly what marketing aims to do. Melt the hearts of consumers, get them to buy and make them loyal followers of the brand.

BSE Institute Ltd (BIL) is a 100% subsidiary of the Bombay Stock Exchange (BSE). It’s located at the centre of the country’s financial capital – Mumbai. It was started to provide industry relevant skills and knowledge to students and working professionals. It offers an Advance Management Program (AMP) for senior industry professionals who aim to lead a company in the next few years.

Thus, we are using CSR as a marketing/ advertising tool for our brand. CSR is used as a tool of the last resort when all traditional ways of selling to consumers has failed. This is when we move away from a brand’s strategy, to the tried and tested one of being a responsible company that cares about its consumers. These CSR activities are hits because your organization is now having a large budget specially for a certain section of the geography. The corporate and its team are more visible on the ground and this helps in strengthening the local sales team. The sales team gets a major morale booster & this helps them trudge the extra mile to get sales.

Most companies in the developed World use these activities regularly to connect with the local community in order to be in their good books and to ensure that their brand is always popular & relevant in the community.

There is another advantage of a CSR activity. People are happy to be surrounded by things that they know and are comfortable with. Once consumers develop a positive image of your brand, start liking your brand, etc. – it becomes very difficult for your competitor to occupy this position in the minds of consumers. A loyal consumer will stick to your brand despite the competition offering a better product. A consumer unwilling to try another product is the best sign of high brand loyalty.

Who would have thought that a CSR activity can actually be a great way to market your product/ brand/ services?! In the words of the great Issac Newton – “Every action has an equal and opposite reaction”. How true – a non-profit activity helps a company do exactly the opposite – earn profits!!

For any entity, “growth is life” –even for corporates!

Posted on September 13, 2017Categories Advanced Marketing   Leave a comment on For any entity, “growth is life” –even for corporates!

How does one assess the health of an individual? Check their vital stats. A child is said to be healthy if he is growing like a normal child should. He will have a healthy weight, a healthy growth in height and an increase in his capabilities, skills and intelligence. A fully grown individual is healthy if all his vital stats are normal. In medical terms – all his body tissues/ cells are being regenrated and there is a constant growth & replacement of all the living tissues which gives him/ her a certain appearance.

Growth is an important factor for corporates too. A company’s financial health is determined in terms of the funds it has and the growth it achieves. For any company, it is important to keep growing in terms of the number of assets that they have, the amount of cash it has, their market share and their sales.

Most corporates have multiple investors/ shareholders who have invested a significant chunk of money in the company and expect great dividends and increase in the price of their shares. For this to happen, a company has to keep increasing their sales at all point of times. Most investors will regularly track the growth rate of sales. The growth rate of sales of any good company, for a year or a quarter, will always be more than the growth rate of the previous year/ quarter. A good company will always have a growth rate that constantly increases.

How does one have a growth rate that increases continuously? Either you sell more products, increase the cost of your products or sell new products to a new market. These 3 are organic ways of growing your company. The growth that occurs with the sales team acquiring new customers and selling more products is defined as organic growth. This is a slow process as the company will first have to innovate & come up with a new product. It will have to build a sales team for it, build the required infrastructure and then sell the products to consumers.

When a company buys another company or a brand and is able to successfully claim that these customers, products and patents are their own – they are said to have grown inorganically. Any company that sells a product/ patent, is in effect handing over its resources and customers to the company that is buying it.The corporate buying the product/ patent has thus grown inorganically – .i.e. by paying money to do so and not buy the usual route.

A lot of us may feel that buying a brand or another company may be tough to manage, expensive and not the right thing to do considering many things that could go wrong. Many investors and senior managers however feel the opposite. Building a brand or a company from scratch can be tough and despite having everything in your favour, things can still go horribly wrong. When you acquire a company, you may inherit a lot of problems, but you also get a hot selling product and a lot of customers. At the end of the day, a CEO has to prove that he deserves the multi crore salary package that he gets and getting incremental sales is the best way to justify it.

BSE Institute Ltd (BIL), a 100% subsidiary of the Bombay Stock Exchange (BSE) offers an Advance Management Program (AMP) that is taught by senior industry professionals currently working at major MNCs. It is designed for Senior Management executives who are about to get promoted to the top 1% of the company.

 

Aiming for the “C” level job? All you need is the wide Blue Ocean!

Posted on September 6, 2017Categories Advanced Marketing   Leave a comment on Aiming for the “C” level job? All you need is the wide Blue Ocean!

For senior executives of a company who are aiming for the corner office with a great view, it is not just another promotion that you are aiming at. You don’t have to just convince you boss about this, you may have to convince the CEO and the major investors/ board of directors about your promotion. Having a good track record and good relations with senior people is not enough as the key decision makers have to think about thee future of the company when appointing someone senior like a Vice President or a Director. They have to assess if the skills that the person has are at par with what the company needs in future in order to beat competition.

It is these strict parameters that one has to abide by in order to make the cut and get the top job. Many times, in case the management is unable to get an appropriate replacement for a certain position internally, they look for a replacement externally. As you move up the corporate ladder, the number of positions available start reducing; ex: there can be only 1 CEO; and hence you have to be well networked to be in know of all the important decisions.

One of the most important factor here is that while impressing the investors and directors, one should be able to win their confidence by convincing them that you truly understand your industry, your customers/ clients and have plan to grow the company and make it a leader in future. This is a tough task and this distinguishes a leader from a manager. As a manager you take and implement the decisions that are conveyed to you, but as a leader you need to develop a vision for the company that lets you create a plan which is then implemented by managers.

This is where the knowledge of the Blue Ocean Strategy is important. Blue ocean strategy is defined as the creation by a company of a new, uncontested market space that makes competitors irrelevant and that creates new consumer value often while decreasing costs. If you are able to suggest a new way ahead which results in 0 competitions for your company in a way that involves minimum capital expenditure and as little effort as possible.

This basically means that you either solve a problem for your customers with your existing product & completely destroy your competition or you come up with a new product that takes you miles ahead of your competition. Whether you are able to tap into this wide Blue Ocean of opportunity that has been so far untapped is what the management of any company would want to see from its new leader. It is your ability to lead the company into the new century that will truly help your company and get you that corner office.

BSE Institute Ltd (BIL) offers an Advanced Management Program (AMP) that equips you with the techniques that are used by Senior Management executives. The AMP is designed specially for senior managers who are looking to make the transition to the next level.

Making the transition is not just about using advanced marketing/ sales/ management concepts, but rather about understanding and implementing them. This is a tough thing as there are many marketing gurus that promote complex concepts, but very few who tell you how to implement this in your company with the set of products that you have. In order to win a war, strategies are planned in the comforts palaces while sitting on leather sofas and furniture, but they are implemented and executed on the battlefield. The same is true for the modern corporates, but the difference is that the goal posts keep shifting daily. Read more, study more and network more to stay ahead in this race!