The new batch of "corporate gurus" for MBA 2011-13 started today. They are a happy lot who are looking forward to make a difference in the lives of the people and the society...and of course the nation and the world. They interacted with Dr. Anupama Bains, Director, TCG, who conducted an orientation meet.
The 3rd semester MBA students also returned from their successful summer internship of 8-weeks, and the campus was abuzz again with hectic activity.
Everyone had a story to tell...and everyone was feeling enriched, empowered, and enthusiastic to get back to their studies and complete them so that they can get back into the real world.
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The Gurus' Blog
The Gurus' blog, aims to bring out latest and the most happening issues in the world of Mnagement. Questions,Views, Opinions, Trends in Management, Businesses and MBA education will be discussed here. Interact, learn and add value to each other.
TCG Introduces new MCA from 2011 session
The Corporate Gurus School of Business (TCG) after successfully running MBA Program affiliated to Punjabi University ahs now decided to add another feather in it is cap by deciding to introduce 2 years MCA program from the 2011 Academic Session.
This course shall also be AICTE Approved and affiliated to Punjabi Unversity for which the necessary approvals shall be taken soon.
This course shall also be AICTE Approved and affiliated to Punjabi Unversity for which the necessary approvals shall be taken soon.
Joseph Stiglitz
Nobel Prize-winning economist Joseph Stiglitz discusses where capitalism went wrong and what its future iterations might be like.
Transcript: Joseph Stiglitz
Transcript: Joseph Stiglitz
Your Brain at Wal-Mart
Manoj Thomas studies how the human brain responds to posted prices, and how it decides whether or not to buy a new product.
... prevalence of ".99" in pricing? Thomas attributes that to a different psychological mechanism: Left-digit anchoring. He found that consumers often perceive the price to be lower than if the price were rounded to the next dollar. "Because people read from left to right, they tend to anchor their judgment of price on the left-most digit," he says. So a price of $1.99 will seem to the potential buyer to be closer to $1 than to $2.
Read More>>>The Johnson School, Cornell University
... prevalence of ".99" in pricing? Thomas attributes that to a different psychological mechanism: Left-digit anchoring. He found that consumers often perceive the price to be lower than if the price were rounded to the next dollar. "Because people read from left to right, they tend to anchor their judgment of price on the left-most digit," he says. So a price of $1.99 will seem to the potential buyer to be closer to $1 than to $2.
Read More>>>The Johnson School, Cornell University
Food for Thought on Pricing
Food for Thought on Pricing
Ori Heffetz offers a new perspective on price, perception, and purchase decisions
Thought Leadership@The Johnson School
Ori Heffetz offers a new perspective on price, perception, and purchase decisions
Thought Leadership@The Johnson School
Name-Letter Branding: How your name can influence your choices
How would you react if someone told you that your name can influence your everyday choices as well as life-shaping decisions? Would you smile at the idea that Craigs crave a Coke while Peters long for a Pepsi when they are thirsty? Would you say it is just mere coincidence that Lawrence became a lawyer and Judy a judge? Most people indeed consider it ludicrous to think that their name could influence their choices, especially when dealing with major decisions such as selecting a career, a home, or even a partner. Archival data, however, clearly shows that men named Dennis are overrepresented among dentists, and women named Louise are disproportionately likely to move to Louisiana.
“It’s a bizarre idea,” admits Miguel Brendl (Professor of Marketing at the Kellogg School of Management), “but your liking for the letters of your name, which is really driven by your liking for yourself, might spill over to objects and influence your choices.”
Read more >>> Name-Letter Branding
“It’s a bizarre idea,” admits Miguel Brendl (Professor of Marketing at the Kellogg School of Management), “but your liking for the letters of your name, which is really driven by your liking for yourself, might spill over to objects and influence your choices.”
Read more >>> Name-Letter Branding
Losing Touch: Power diminishes perception and perspective
High-power individuals anchor too heavily on their own perspectives and demonstrate a diminished ability to correctly perceive others’ perspectives. People in power, it seems, are prone to dismiss or, at the very least, misunderstand the viewpoints of those who lack authority.
Research by Adam Galinsky (Professor of Management and Organizations at the Kellogg School of Management) and his co-authors.
Read More >>>Power diminishes perception and perspective
Research by Adam Galinsky (Professor of Management and Organizations at the Kellogg School of Management) and his co-authors.
Read More >>>Power diminishes perception and perspective
Temper Your Trust to Avoid Financial Rip-Offs
Trust may be "the all-powerful lubricant that keeps the economic wheels turning," but Bernie Madoff's Ponzi scheme is just the latest example of the catastrophes that can result when those economic wheels turn too smoothly, according to Stanford Business School Professor Roderick M. Kramer.
Read More >>> Temper Your Trust to Avoid Financial Rip-Offs
Read More >>> Temper Your Trust to Avoid Financial Rip-Offs
Where the Fake Things Are
Millions of consumers couldn’t care less about copyright or authenticity. What does business do when customers resist paying for the real thing?
The cost of making copies of that music or video, especially online, is very small. It’s easy to reason that, at worst, you’re taking something that costs a few pennies to create, and that the creator won’t feel a thing.
For decades, luxury goods manufacturers have worked on the supply side, cooperating with legal authorities to wage war on the manufacturers of knockoff goods. Still, the World Customs Organization estimates that the global market for counterfeit merchandise is more than $600 billion, amounting to 7 percent of world trade.
Read complete article at ONE:Online magazine of Johns Hopkins Carey Business School
The cost of making copies of that music or video, especially online, is very small. It’s easy to reason that, at worst, you’re taking something that costs a few pennies to create, and that the creator won’t feel a thing.
For decades, luxury goods manufacturers have worked on the supply side, cooperating with legal authorities to wage war on the manufacturers of knockoff goods. Still, the World Customs Organization estimates that the global market for counterfeit merchandise is more than $600 billion, amounting to 7 percent of world trade.
Read complete article at ONE:Online magazine of Johns Hopkins Carey Business School
How do foreign companies market to India?
Valentine's Day is an example of this. Both Indian and foreign companies have been promoting Valentine's Day, and it has been quite successful with young, urban couples. But some extremist political groups have used it as a symbol of modernization and Westernization. Every year Indian newspapers will have pictures of these groups burning Hallmark cards. Last year they actually went into restaurants that were promoting Valentine's Day to cause some trouble. For these groups, it is a political stunt to generate publicity around the issues that they want to promote. But it also reflects larger questions about India's modernization.
An interesting example to juxtapose with Valentine's Day is Akshaya Trithya. It is a Hindu festival which has existed for hundreds of years and is seen as an auspicious time to start a new venture, but, until recently, it was not very commercialized.
Indians have one of the largest private collections of gold in the world. In fact, India generally accounts for 20% of global gold offtake in any one year. But in the early 2000s sales were stagnating, so the World Gold Council decided to put a lot of money into marketing festivals such as Akshaya Trithya, especially in the south where a great deal of the gold is bought.
Instead of being an obscure Hindu festival, Akshaya Trithya became a day where if you are a middle class or upper middle class family in Chennai, you go to your jeweler to buy gold. The existing cultural tradition has been transformed into a highly commercialized occasion.
Read More >>>How do foreign companies market to India?
An interesting example to juxtapose with Valentine's Day is Akshaya Trithya. It is a Hindu festival which has existed for hundreds of years and is seen as an auspicious time to start a new venture, but, until recently, it was not very commercialized.
Indians have one of the largest private collections of gold in the world. In fact, India generally accounts for 20% of global gold offtake in any one year. But in the early 2000s sales were stagnating, so the World Gold Council decided to put a lot of money into marketing festivals such as Akshaya Trithya, especially in the south where a great deal of the gold is bought.
Instead of being an obscure Hindu festival, Akshaya Trithya became a day where if you are a middle class or upper middle class family in Chennai, you go to your jeweler to buy gold. The existing cultural tradition has been transformed into a highly commercialized occasion.
Read More >>>How do foreign companies market to India?
Peter Bregman:A Story About Motivation
I was walking back to our apartment in Manhattan, the hood of my jacket pulled tight to keep the rain out, when I saw an older man with a walker struggle to descend the slippery stairs of his building. When he almost fell, I and several others went over to help.
There was an Access-A-Ride van (a Metropolitan Transit Authority vehicle for people with disabilities) waiting for him. The driver was inside, warm and dry, as he watched us straining to help his passenger cross the sidewalk in the pouring rain.
Then he opened the window and yelled over the sound of the rain coming down, "He might not be able to make it today."
"Hold on," we yelled (there were five of us now) as we helped the man move around the back of the van, "he can make it."
Traffic on 84th street had stopped. We caught the man from falling a few times, hoisted him back up, and finally got him to the van door, which the driver then opened from the inside to reveal a set of stairs. The man with the walker would never make it."What about your side door, the one with the electric lift?" I asked.
"Oh yeah," the driver answered, "hold on." He put his coat over his head, came out in the rain with the rest of us, and operated the lift.Once the man with the walker was in safely, we all began to move away when the driver opened the window one more time and yelled, "Thanks for your help."
So, here's my question: Why will five strangers volunteer to help a man they don't know in the pouring rain — and think about the electric lift themselves — while the paid driver sat inside and waited?
Read More >>> A Story About Motivation
There was an Access-A-Ride van (a Metropolitan Transit Authority vehicle for people with disabilities) waiting for him. The driver was inside, warm and dry, as he watched us straining to help his passenger cross the sidewalk in the pouring rain.
Then he opened the window and yelled over the sound of the rain coming down, "He might not be able to make it today."
"Hold on," we yelled (there were five of us now) as we helped the man move around the back of the van, "he can make it."
Traffic on 84th street had stopped. We caught the man from falling a few times, hoisted him back up, and finally got him to the van door, which the driver then opened from the inside to reveal a set of stairs. The man with the walker would never make it."What about your side door, the one with the electric lift?" I asked.
"Oh yeah," the driver answered, "hold on." He put his coat over his head, came out in the rain with the rest of us, and operated the lift.Once the man with the walker was in safely, we all began to move away when the driver opened the window one more time and yelled, "Thanks for your help."
So, here's my question: Why will five strangers volunteer to help a man they don't know in the pouring rain — and think about the electric lift themselves — while the paid driver sat inside and waited?
Read More >>> A Story About Motivation
Thomas H. Davenport: Make Better Decisions
In recent years decision makers in both the public and private sectors have made an astounding number of poor calls. For example, the decisions to invade Iraq, not to comply with global warming treaties, to ignore Darfur, are all likely to be recorded as injudicious in history books. And how about the decisions to invest in and securitize subprime mortgage loans, or to hedge risk with credit default swaps? Those were spread across a number of companies, but single organizations, too, made bad decisions. Tenneco, once a large conglomerate, chose poorly when buying businesses and now consists of only one auto parts business. General Motors made terrible decisions about which cars to bring to market. Time Warner erred in buying AOL, and Yahoo in deciding not to sell itself to Microsoft.
Why this decision-making disorder? Read the complete article by Thomas H. Davenport
Make Better Decisions
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Why this decision-making disorder? Read the complete article by Thomas H. Davenport
Make Better Decisions
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Henry Mintzberg: The structure of Organisations
Henry Mintzberg has been writing and researching, over the years especially about managerial work, strategy formation, and forms of organizing. In 2004 published Managers not MBAs, in 2007, Tracking Strategies and in 2009 Managing. He will soon complete a monograph entitled Managing the Myths of Health Care. Currently Cleghorn Professor of Management Studies at the Desautels Faculty of Management at McGill University in Montreal.Visit his website to view all his published works and books
Henry Mintzberg website
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Henry Mintzberg website
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The Disadvantages of an Elite Education
Our best universities have forgotten that the reason they exist is to make minds, not careers. Read this eye opening article by William Deresiewicz in American Scholar.
The Disadvantages of an Elite Education
The Disadvantages of an Elite Education
Success Stories
Soichiro Honda was turned down by Toyota Motor Corporation during a job interview as "engineer" after World War Two. He continued to be jobless until his neighbours starting buying his "home-made scooters". Subsequently, he set out on his own to start his own company. Honda. Today, the Company has grown to become the world's largest motorcycle manufacturer and one of the most profitable automakers - beating giant automaker such as GM and Chrysler. With a global network of 437 subsidiaries, Honda develops, manufactures and markets a wide variety of products ranging from small general-purpose engines and scooters to specialty sports cars.
Akio Morita, founder of giant electric household products, Sony Corporation, first product was an electric rice cooker, only sold 100 cookers (because it burned rice rather than cooking). Today, Sony generates US$66 billion in revenue and ranked as the world's 6th largest electronic and electrical company.
The Woolworth Company was a retail company that was one of the original five-and-ten- cent stores. The first Woolworth's store was founded in 1878 by Frank Winfield Woolworth and soon grew to become one of the largest retail chains in the world in the 20th century. Before starting his own business, Woolworth got a job in a dry goods store when he was 21. But his employer would not let him serve any customer because he concluded that Frank "didn't have enough common sense to serve the customers".
Bill Gates founder and chairman of Microsoft, has literally changed the work culture of the world in the 21st century, by simplifying the way computer is being used. He was the world's richest man for more than one decade. However, in the 1970's before starting out, he was a Harvard University dropout. The most ironic part is that, he started a software company (that was soon to become Microsoft) by purchasing the software technology from "someone" for only $US50 back then.
Akio Morita, founder of giant electric household products, Sony Corporation, first product was an electric rice cooker, only sold 100 cookers (because it burned rice rather than cooking). Today, Sony generates US$66 billion in revenue and ranked as the world's 6th largest electronic and electrical company.
The Woolworth Company was a retail company that was one of the original five-and-ten- cent stores. The first Woolworth's store was founded in 1878 by Frank Winfield Woolworth and soon grew to become one of the largest retail chains in the world in the 20th century. Before starting his own business, Woolworth got a job in a dry goods store when he was 21. But his employer would not let him serve any customer because he concluded that Frank "didn't have enough common sense to serve the customers".
Bill Gates founder and chairman of Microsoft, has literally changed the work culture of the world in the 21st century, by simplifying the way computer is being used. He was the world's richest man for more than one decade. However, in the 1970's before starting out, he was a Harvard University dropout. The most ironic part is that, he started a software company (that was soon to become Microsoft) by purchasing the software technology from "someone" for only $US50 back then.
C K Prahalad: Bottom of the Pyramid
Coimbatore Krishnao Prahalad was born in the town of Coimbatore in Tamil Nadu. He studied physics at the University of Madras (now Chennai); worked as a manager in a branch of the Union Carbide battery company, then went to the Harvard University and earned a PhD. Prahalad is the world's topmost management guru and the first Indian-born thinker to claim the title.
"Deregulation, emerging markets, new forms of globalisation, convergence of technologies and industries, and ubiquitous connectivity, these have changed many aspects of business," said management guru C K Prahalad in an interview.
Read his latest interview where he says that India facing leadership crisis
"Deregulation, emerging markets, new forms of globalisation, convergence of technologies and industries, and ubiquitous connectivity, these have changed many aspects of business," said management guru C K Prahalad in an interview.
Read his latest interview where he says that India facing leadership crisis
Michael E Porter:Obsessed by competition
Michael E Porter is the Bishop William Laurence University Professor at the Harvard Business School.He studied mechanical and aerospace engineering at Princeton and then switched to business, earning an MBA and a PhD in economics from Harvard. He later joined the faculty at the Harvard Business School. Michael Porter is considered by many the world's foremost authority on competition and strategy.
Read about his book: The Seven Things That Surprise New CEOs, where he says,"Most new chief executives are taken aback by the unexpected and unfamiliar new roles, the time and information limitations, and the altered professional relationships they run up against. Here are the common surprises new CEOs face, and here's how to tell when adjustments are necessary."
Read More>>>
Read about his book: The Seven Things That Surprise New CEOs, where he says,"Most new chief executives are taken aback by the unexpected and unfamiliar new roles, the time and information limitations, and the altered professional relationships they run up against. Here are the common surprises new CEOs face, and here's how to tell when adjustments are necessary."
Read More>>>
Myron Scholes:Risk Manager
Myron Scholes, Nobel laureate, a better description would be a lifelong student of risk, and why we humans need risk, how we manage it and why we'd be unhappy without it. Myron Scholes says learning can be costly.; Read Interview with Myron Scholes at the Wall Street Journal
The Interview
The Interview
Philip Kotler:Guru of Marketing
Philip Kotler is revered the world over by managers as the Guru of Marketing.On a visit to India, Dr Kotler,on the Rediff Chat, responding to readers' queries on marketing, planning, the growth of the retail market as a brand...
The illuminating chat transcript of Philip Kotler
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The illuminating chat transcript of Philip Kotler
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