ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the link.
ASIAN SCHOOL OF BUSINESS MANAGEMENT
The 7th Annual Convocation of the 2012-2014 PGDM batch of Asian School of Business Management took place at Shiksha Vihar, Bhola, Chandaka campus on Saturday i.e, 5th April '14 amongst much anticipation announcing the passing out of the batch of students ready to face the grueling ordeals of the corporate world. 122 students of the passing out batch were awarded the Post Graduate Diploma in Management and Infinity Gold Medals for the Best Academic Achiever and The Director’s Gold Medal for the All Rounder were handed out to Miss. Pratiksha Parinita & Miss. Shikha Agrawal respectively. On this momentous occasion Chief Guest Shri Pradeep Singh Kharola, IAS, Managing Director, Bangalore Metro Rail Corporation Ltd., Guest of Eminence Shri. Vijay Gupta, CEO – Power, Monnet Ispat & Energy Ltd., and the Chairman of the Board of Governors of ASBM Sunand Sharma, Country President (India & South Asia), ALSTOM among other dignitaries honored the occasion with their august presence.
ASBM Institute of Professional Studies (earlier known as ASBM Institute of BBA), Bhubaneswar celebrated its 5th annual function on 22nd March 2014. The Chief Guest, Shri Panchanan Dash, IAS, Secretary, MSME Dept. ; Govt of Odisha, stressed upon strong determination and the importance of individual ideation in achieving success. He encouraged students to think out of the box and opt for entrepreneurship for socio economic development. Guest of Honour Prof (Dr.) Kalyani Mohanty, HOD, PMIR Deptt., Utkal University advised the students to inculcate the habit of reading books, magazines and journals and most importantly be a good human being.
Ms. Rina Mohapatra, OAS, CGM (P & A), IDCO, Bhubaneswar added that everybody is unique with respect to their strengths. She further stated the significance of understanding self and to pursue one’s passion.
BUSINESS COMMUNICATION
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
Reliance Communications, controlled by Anil Ambani, may earn as much as Rs 5,000 crore from leasing out its fibre optic network.
Reliance Jio Infocomm Ltd, the telecommunications unit of Mukesh Ambani-run RIL, has signed a master services agreement with RCom based on "arm's length pricing at prevailing market prices," the two companies said in separate statements.
Reliance Jio is the only company to have nationwide 4G licence and is looking to start commercial services before year end.
It had in April last year signed a Rs 1,200 crore deal to hire RCom's inter-city fibre for its 4G network. In August 2013, it signed a USD 2.1 billion pact for leasing RCom's mobile phone towers.
As per the master services agreement signed today, Reliance Jio will utilise RCom's nationwide intra-city fibre network for accelerated roll-out of its state-of-the-art 4G services across the country.
"RCom's intra-city optic fibre network extends to nearly 500,000 fibre pair kilometres, across the top more than 300 cities and towns in India," the statements said.
LOGISTICS
Indian Angel Network (IAN) and tyre-maker Michelin have started a logistics initiative to improve the efficiency of moving produce from the farm to the market.
The initiative - Farm to Market Logistics (F2ML) - is an incubator managed by IAN, a network of angel investors investing in start-ups and early stage ventures, and supported by Michelin. It will seek ideas that will help make the food supply chain generate less waste through new practices, behaviours and solutions, the company said in a statement.
“It has been IAN’s continuous endeavour to invest in innovative ideas across sectors. In partnership with Michelin, IAN would like to focus particularly on the food supply chain. The challenge of moving food produce efficiently from the farms to tables, reducing the current level of waste creates many opportunities to invent and grow profitable businesses in India,” said Saurabh Srivastava, co-founder of IAN.
Shortlisted innovators and entrepreneurs of this initiative will receive assistance on designing their products or service, building prototypes, getting customer validation and preparing the foundation for commercialisation of the idea.
The F2ML initiative is open to individuals, teams or Indian start-ups and SMEs and will endeavour to encourage innovators to become entrepreneurs. The shortlisted applications will be assigned business mentors from the IAN mentor pool, comprising successful entrepreneurs, investors and senior professionals.
Online marketplace Snapdeal is all set toopen its logistics platform SafeShip to other e-commerce companies as a service, within a few weeks, marking its entry into the fast growing logistics market.
The software platform developed by Snapdeal will help sellers choose the best courier options to deliver products to customers. The Gurgaon-based company has offered this service to sellers on its marketplace for over a year now, before deciding to throw it open to rivals for a fee. Market leader Flipkart has taken the physical route by launching its own logistics arms — eKart that is open to rivals as well.
"Our sellers have saved immensely due to SafeShip and we want to transfer the same benefit to others in the industry," said Rohit Bansal, chief operating officer and cofounder of Snapdeal which hosts over 20,000 sellers on its marketplace. In February, the company received funding of $133 million led by eBay.
"We see ourselves as a technology enabler for businesses," said Bansal who estimates that both sellers and logistics providers have been able to save 'up to one third' of the cost of shipment by using the Safe-Ship platform. On an average shipment rates for goods sold by online retailers in India is about Rs 55 to Rs 70 for a package under one-kilogram.
MARKETING
Continuing to build on its suite of healthcare-specific brand and advertising evaluation research products, Phoenix Marketing International today announced the launch of Journal AdPi® (Ad Performance Index). This new technology-based and proprietary research tool quantitatively assesses and optimizes healthcare professional (HCP) journal ads by comparing to industry standards (i.e., "norms").Journal AdPi® simulates a mock journal environment where HCP respondents are taken page by page through a medical journal relevant to their area of specialty via Phoenix's proprietary online platform. The mock journal includes various articles and advertisements similar to a real journal in order to get a measure of break-through for the 'test' ad, which is compared against industry standards. Respondents then move on to a more in-depth evaluation of messaging and creative elements for the test ad – again, with all key metrics compared against the industry standards. The Journal AdPi® methodology can accommodate multiple test ads and incorporate specific control cell ads. Eye tracking technology is also used to help optimize layout and flow. "Phoenix is committed to evolving traditional research methods, including building of contextual databases that significantly contribute to the analytical process," says Jaime Hodges, EVP of Healthcare. "Journal AdPi® is part of a larger effort within Phoenix Healthcare to build contextual databases across multiple stakeholders to provide better marketing insights, particularly among HCPs where the industry lacks norms." Other product offerings from Phoenix include HCP Awareness, Trial and Usage (ATU) tracking norms, Virtual Rep, a quantitative methodology for optimizing sales representative interactions and marketing materials and PatientView, a consumer brand and advertising tracking platform.
RETAIL
Big retailers are muscling in on the likes of Visa (V.N), MasterCard (MA.N) and Google (GOOGL.O) in a fiercely competitive and growing mobile payment market that promises to cut transaction costs and increase customer loyalty.
Stores such as British supermarket Tesco (TSCO.L) and France's Auchan hope their "digital wallets" - apps which allow users to pay with their smartphones rather than cash or cards - will also give them more comprehensive data about customers' shopping habits than ever before so they can target advertising.
They are joining a crowded market - banks, card companies and tech firms like Google and Apple (AAPL.O) are all entering the mobile payment business, each hoping their app will become the industry standard. eBay's (EBAY.O) PayPal, well established in e-commerce, is also experimenting with the technology.
Retailers hope to attract customers to their own services by giving discounts and rewards to those using them, while also linking payments automatically to loyalty schemes and offering features like saved shopping lists.
The global market for mobile payments is forecast to grow about threefold by 2017 to some $721 billion worth of transactions, with more than 450 million users, according to research firm Gartner.
The growth could benefit retailers as the competition from a host of payment providers should help drive down the fees stores pay to have transactions processed - a service currently dominated by banks and card firms Visa and MasterCard.
"We view merchants as overall beneficiaries of the trend toward mobile payments," said Morgan Stanley, which estimated retailers in developed countries spent up to $150 billion in 2012 to accept card payments.
"Expected returns should justify any incremental investments required in enabling mobile payments technology," it said in a report in January.
However, it is still unclear how the retail mobile payment market will develop, with card companies and banks seen retaining a leading role in processing payments even if physical cards become obsolete.
SUPPLY CHAIN
Myers Tire Supply has partnered with Apex Supply Chain Technologies to bring automated dispensing solutions – vending machines – to its customers. The MTS Xpress vending machine will provide Myers customers with a secure, accurate, real-time way to manage and control their high-cost, high-use and mission critical inventory items. "By placing Apex vending machines directly at the point-of-use, we are providing a system where our customers can better optimize their inventory,” said Todd Smith, vice president and general manager. “When our customers can rely on important tools and equipment to be there every time they’re needed, eliminating stock-outs and supply interruptions, the shop’s work will move faster and more jobs will finish each week.”
Myers recently debuted the vending machines to its sales staff at its recent ‘Power of One’ sales fair/meeting.
The MTS Xpress vending program leverages Apex’s cloud-based Trajectory Enterprise Technology Platform to provide users with real-time information and automated replenishment, based on customer set parameters, the company said.
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Source of Information for this issue : Google alert accessed on 7th, 8th and 11th Apr 2014
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Best wishes
Compilation
Sabita Sahu
Junior Librarian
Concept, Layout and Editing
Syamaghana Mohanty
Chief Librarian
Information and Documentation Division, Chanakya Central Library
Asian School of Business Management
Shiksha Vihar Bhola,
Barang Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu : Junior Librarian Knowledge and Information Services Unit, Chanakya Central Library, AsianSchool of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
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