Business Etiquette at Corporate Events

Appropriate behavior and Business etiquette is expected from everyone in corporate events. But there will be only few persons who are trained as to how to conduct themselves in such occasions. We have a chance and necessity to learn these things only when we are in the job.

But not everyone is sure until unless they are formally trained for such occasions as to how they are conducting themselves in such occasions. And until and unless they are sure about this they cannot be at ease at such an occasions. To state the fact, the very purpose of business etiquette is to create such an atmosphere where in people are at ease and comfort with each other.

Here are some of the Business Etiquette tips that will clear most of our doubts, let’s have a look at them.

1) When you get invited for a corporate event, make sure that you reply within a week from the day you receive the invitation, whether you will be able to attend the event or not.

2) All is good if you are able to attend at the event as planned, but if in case any emergencies land up in the last minute make sure that you immediately notify the host about your inconvenience, backed by sincere regrets.

3) Make sure that you are dressed well and everything is pressed. Most of such events specify the attire that you should be wearing.

          a) If business attire you should be wearing suite with black tie.
          b) If business casuals you should be wearing trousers / khakis with long sleeve shirts.
          c) You should wear Jackets and ties as instructed or specified.

4) Most of such events specify the time of arrival, but it is always best to be there at least twenty minutes early.

5) Extend and give hand shake as soon as you arrive at the place, and before you leave the place, make sure that you give firm hand shake with sincere smile making eye contact.

6) When in group always extend your hand shake to the host first.

7) When introducing people, always introduce lower ranking people to the higher ranking people, including titles and name prefixes.

8) When in group always sand up or sit up straight and maintain good eye contact. Find topics of mutual interest and include everyone in the discussion. Always encourage others to talk about themselves. And most important avoid using foul language or slang in conversations.
Never drink more than two alcoholic drinks. when briefly stepping away place napkins on the chair seat or arm and when you finish eating, place the fork and knife in the 4:00 position
Thank the host in person prior to leaving and send a “thank you” note to the host within a week.

Check out on these points and you are sure to conduct yourself as a person with good business etiquette, at all corporate events.

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Top Business News of 2012 [Part 2]

September
Supreme Court directed Sahara Group to refund 17400 Crore Rupees to their Investors - The Supreme Court of India directed Sahara Group's two companies to refund around 17400 crore rupees to their investors within three months with 15 per cent interest.

Tech Mahindra Acquired Hutchinson Global Services - Tech Mahindra on 4 September 2012 acquired the back office unit of Hutchison Global Services (HGS), for $87.1 million (Rs 484.03 crore). The deal made with the HGS is supposed to give it a revenue rise of USD 845 million over the next five years which will mark to an average revenue increase of around USD 170 million per annum.

ICICI Bank to extend its net banking services through social media platform ‘Facebook’ - ICICI Bank announced on 6 September 2012 that it is going to launch its services on social media platform ‘Facebook’ in order to expand its internet banking services. ICICI is among the first banks to start its online presence and the only bank that allows non-cash transactions i.e. requests for cheque books, account statement enquiry and more.

Infosys acquired Switzerland based firm Lodestone - Infosys, one of the largest software companies of India, acquired Switzerland based global management consultancy firm Lodestone on 10 September 2012 with an enterprise value of $350 million.

State-owned Bank of India opened its first branch in South Africa - State-owned Bank of India (BoI) opened its first branch in South Africa in a move to enhance the relationship between South Africa and India.

Indigo Airlines emerged to be the top ranked carrier for consecutive second month - The data presented by the Directorate General of Civil Aviation (DGCA) on 18 September 2012 claimed that the low cost airlines Indigo emerged as the leading carrier in the month of August by carrying 12.05 lakh domestic passengers out of 43.69 lakh passengers.

Ex-COO and MD of Reebok India held for Rs 870 Crore Fraud - The ex-COO Vishnu Bhagat and former MD Subhender Singh Prem of Reebok India along with three more executives were arrested by the Special Investigation Team (SIT) of Gurgaon on 19 September 2012.

October
DGCA Issued Show-Cause Notice to Kingfisher Airlines - The Aviation regulator Directorate General of Civil Aviation (DGCA) on 5 October 2012 issued a show- cause notice to kingfisher Airlines asking why its license should not be suspended or scrapped for failing to ensure safe, efficient and reliable services under Section 15(2)(b) of Schedule XI of the Aircraft Rules of 1937.

Air India Received its Third Boeing 787 Dreamliner - Air India on 9 October 2012 got its third Boeing Dreamliner from the new North Charleston Facility of the American manufacturer. Air India is the first airline in the world to take delivery of a Dreamliner from the US Based manufacturer.

Petroleum Ministry’s Non Approval to RIL’s Investment Plans - The Petroleum and Natural Gas Ministry on 17 October 2012 escalating the troubles of Reliance India Limited informed the Prime Minister office that it would not approve the investments of the company on its KG-D6 fields.

Tata Starbuck Opened its First Store in India - Tata Starbucks, a joint venture between Tata Global Beverages (TGBL) and Starbucks Coffee Company, on 19 October 2012 opened its first store in India which is located in Horniman Circle of South Mumbai.

DGCA suspended the license of Kingfisher Airlines - Directorate General of Civil Aviation (DGCA) on 20 October 2012 suspended the license of the debt-ridden aircraft carrier Kingfisher Airlines. The decision came up after the airlines failed to address the concerns of the regulatory body about its operation that came up after the airlines was directed to stop-bookings till further notifications.

Bharti Airtel Became World’s Fourth Largest Mobile Operator - Indian Telecom Service Company Bharti Airtel became the fourth largest telecom operator in the world in terms of subscribers, according to the Wireless Intelligence ‘Scoreboard’ report.

BHEL Deployed Solar Panel on GSAT 10 Satellite - Bharat Heavy Electricals Limited (BHEL) in the Month of October had successfully deployed space grade solar panels on the GSAT-10 satellite of the Indian Space Research Organisation (ISRO).

November
Gov. of Odisha Slapped 6000 crore Rupees fine on Tata Steel for Illegal Mining - The Odisha government had slapped a fine of about 6000 crore Rupees on Tata Steel for its alleged involvement in illegal and excess mining at its captive mines.

Goldman Named 16 Indians as MDs and 3 as Partners - Goldman Sachs, the international financial services giant, promoted 16 IndianCorporate/Bussiness Current Affairs November 2012. Goldman Sachs, the international financial services giant, promoted 16 Indians as the Managing Directors in the second week of Novembers as the Managing Directors in the second week of November.

Maldivian Airlines Signed Pact with Apollo Hospital - Maldivian Airlines in the month of November had signed a pact with the Chennai-headquartered Apollo Hospitals to give discounts to each others’ clients.

PepsiCo Coughed Up Double Amount than DLF to Be Next 5 Years IPL Sponsor - PepsiCo left behind Airtel in the race to win Indian Premier League (IPL) title sponsorship for 396 crore Rupees, which is approximately double of the previous right holders- DLF.

Maldives cancelled its Biggest Foreign Investment Project with GMR Group - Maldives cancelled its biggest foreign investment project with Indian firm GMR Group to develop its international airport. The total value of the project was 511 million dollar. The deal with the GMR was signed during former President Mohamed Nasheed's administration. Prior to this, a competitive bidding process was conducted by the World Bank's International Finance Corporation (IFC).

IOC to Upgrade its Refineries and Increase Production Capacity to 100 million tonnes - The Indian Oil Corporation (IOC) on 27 November 2012 declared that it would upgrade refineries at Panipat, Mathura and Gujarat. The IOC would make an investment of up to 70,000 crore rupees so that it can double its capacity of refining to 100 million tonnes per year by 2021-2022.

December
Kingfisher Airlines Sent Eviction Notice by Mumbai International Airport Pvt Ltd - Kingfisher Airlines that had its operations from domestic Terminal 1A of Mumbai’s airport was given an eviction notice by the Mumbai International Airport Pvt Ltd (MIAL) in the last week of November 2012.

Adani Group completed Australia’s Largest Coal Mining Project in a Record Time - Adani Mining, a global integrated infrastructure player on 3 December 2012 announced completion of the largest mining exploration programme inAustralia in a record time of Nine months.

Economic Reforms - UPA wins vote over FDI in Retail in Lower House - The UPA government won the motion on Foreign Direct Investment in retail by 253 votes in Lok Sabha on Thursday. While 218 MPs out of total 417 attended members in the Lower House.The motion over the FDI in retail was considered in the house for discussion and vote by the speaker in rule 184, which voted on Thursday.

Lobby Bill of Wal-Mart Hit Around 125 Crore Rupees to Seek Entry into India - Wal-Mart had filed the lobbying disclosure report with US Senate and it was found that the retail giant had incurred around 25 million dollar or approximately 125 crore Rupees in the lobbying activities.

Infosys Shares started Trading on New York Stock Exchange - Infosys Ltd, India’s second-largest IT services provider on 12 December 2012 announced that its American Depositary Shares (ADS) had started trading on the New York Stock Exchange (NYSE) under the ticker symbol INFY.

Tata Steel Developed a New Kind of Anti-Ballistic Steel Super Bainite - Tata Steel's Port Talbot plant in the UK developed a new kind of anti-ballistic steel in the second week of December which could transform safety of soldiers and security forces fighting terrorists and extremists.

Cyrus Pallonji Mistry Appointed as Chairman of Tata Sons - Cyrus Pallonji Mistry was appointed as the chairman of Tata Sons, the firm that holds more than 100 billion dollar Tata Group, on 18 December 2012.

Click here for Part 1 of the story
Information Source – Jagran Josh 

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Top Business News of 2012 – India Business News at a glance

January
Coca Cola placed at No.1 in Inter-brand's List of the top 100 Global Brands in 2011 - US beverage maker Coca Cola retained its top position in Inter-brand's list of the top 100 global brands in 2011. Coca Cola was followed by another US based company, IBM.

February
Bahrain Telecom announced exit from Indian joint venture S Tel - Bahrain Telecommunications Co (Batelco) on 8 February 2012 announced to sell its 43 percent stake in Indian joint venture S Tel for $175 million, in the first foreign exit since the Supreme Court of India nullified 122 telecoms licenses on 2 February 2012 as part of a 2G scam probe.

Rahul Bhatia awarded with Ernst & Young Entrepreneur of The Year Award 2011 - Rahul Bhatia, Managing Director of InterGlobe Enterprises group on 23 February 2012 was chosen for Ernst & Young Entrepreneur of the Year Award 2011

State Bank of India reduced Interest Rate on Education Loan upto 1 Percent - India’s largest bank, State Bank of India on 27 February 2012, announced to reduce its interest rate on education loan by 1 percent.

March
Hindustan Petroleum Corporation Ltd resumed Oil Supplies to Kingfisher Airlines - State-owned Hindustan Petroleum Corporation Ltd (HPCL) on 8 March 2012 resumed oil supplies to Kingfisher Airlines after the airline agreed to pay for daily fuel off-take.

State Bank of India hiked Interest Rates on Retail Term Deposits to 8 Per Cent - SBI's interest rate on deposits with maturity periods ranging between seven days and less than one year was increased to a uniform 8 per cent.

Tata Steel topped the List of Most Admired Indian Brand - A survey compiled by Fortune India and global management consultancy Hay Group which was released on 13 March 2012, revealed Tata Steel as the most admired brand in India.

April
Star TV won the Broadcasting Rights of Indian Cricket Team in a 3851 Crore Rupees Bid - Star TV on 2 April 2012 won the rights to broadcast Indian cricket for next six years in a bid to the tune of 3851 crore rupees.

Cyrus Mistry and OP Bhatt joined the Board of Directors of Tata Consultancy Services - Tata Sons deputy chairman Cyrus Mistry and former SBI group chairman OP Bhatt joined the board of directors of Tata Consultancy Services.

Star Group ended its Joint Venture with Indian Television - Rupert Murdoch led Star Group on 16 april 2012 decided to put an end over its joint venture with its Indian television news channel partner. The company cited the split on regulatory headaches as the reason behind the decision.

Zee TV became the First Indian Channel to get Landing Right in China - Zee TV on 27 March 2012 became the first Indian channel to get a landing right in China. China’s State Administration for Radio, Film and Television (SARFT) granted the landing rights to the Indian channel after a long six years of wait.

Audi signs up Indian Motorsport Driver Aditya Patel for Three Years - German luxury car manufacturer Audi on 13 April 2012 signed a 3 year contract with promising young motorsport driver Aditya Patel.

May
Audi launched New Version of Its Largest Selling sedan A4 in India - German luxury car maker Audi launched a new version of its largest selling sedan A4 in Indian market. The luxury car launched in both the petrol and diesel variants has a starting price of 27.33 lakh.

Bharti Airtel acquired 49 Per Cent Stake in Qualcomm’s Broadband Wireless Access Business - India’s leading telecom company Bharti Airtel on 23 May 2012, acquired 49 per cent stake in Qualcomm’s broadband wireless access (BWA) business in India in a deal worth 165 million dollar (about 922 crore rupees).

Samsung became Number One Mobile Company in the World - Samsung's mobile phone sales have reached 86.6 million units, a 25.9 per cent increase from 2011. It also reacquired the number one slot in smartphone space from Apple, selling 38 million smartphones worldwide.

Cyrus Mistry and Mallika Srinivasan appointed on the Board of Tata Steel - Cyrus Mistry, the Chairman-designate of Tata groups was appointed as an additional director on the board of Tata Steel on 21 May 2012.

Chinese Computer Major Lenovo appointed Ranbir Kapoor as its Brand Ambassador - Chinese computer major Lenovo on 29 May 2012 roped in Bollywood actor Ranbir Kapoor as the brand ambassador for its range of products in India.

June
Airtel Rising Star Talent Hunt Launched by Aitel and Manachester United - Airtel launched Airtel Rising Star in association with Manchester United, England on 25 June 2012 to provide exposure to young footballer’s talents. The talent hunt also strengthens brand positioning and appeal to youth to enhance football in countries like India.

MTS Slashed Internet Charges in Delhi-NCR by 60 percent - MTS slashed its internet charges for Delhi-NCR customers on 26 June 2012 by 60 percent. The net surfing for the customer is reduced up to 1/3 of the previous rate. MTS is operated by Sistema Shyam TeleServices Limited (SSTL).

Coca-Cola announced to invest 28000 crore rupees by 2020 in India - The soft drink company Coca-Cola on 26 June 2012 announced to invest 28000 crore rupees (about 5 billion dollar) from 2012 to 2020 due to youth population, growing economy increase in urbanisation and changing lifestyle in India.

July
Bank of India and United Bank of India reduced rate by 0.25 and 1.75 percent - Bank of India (BOI) and United Bank of India (UBI) on 5 July 2012 reduced the rate of interest by 0.25 percent and 1.75 percent. BOI slashed the rate on fixed deposits where as UBI reduced the rate for farm loans.

Bollywood actor Amitabh Bachchan signed as Brand Ambassador of Kalyan Jewellers - Bollywood's most popular actor Amitabh Bachchan on 14 July 2012 was signed as the brand ambassador of Kalyan Jewellers due to his popularity and fame at the international level. He will emphasize on the brand qualities with 100 percent purity, price tags etc. He will also advertise in regional languages.

ONGC was awarded Gold Trophy in Safety Management Award 2012 - Greentech Foundation awarded Gold Trophy in Safety Management Award 2012 on 24 July 2012 to Oil and Natural Gas Corporation (ONGC).

August
NDTV filed Lawsuit against Audience Measurement Company TAM India - India's national news broadcasting channel NDTV sued the country’s only television audience measurement company TAM India and its global parent firms Nielsen and Kantar on 31 July 2012. The channel accused officials at TAM of being indulged in fraudulent and manipulating TV ratings.

Siemens India Bagged 290 Million Euro NMDC Deal - Siemens India nailed an order worth two ninety million Euros from National Mineral Development Corporation (NDMC), which is state run, for developing basic oxygen furnace converter for steel marking.

The Bhilai Steel Plant won the Prime Minister’s Trophy for the 10th Time - The Bhilai Steel Plant won the prestigious Prime Minister's Trophy for the 10th time. Bhilai Steel plant is the flagship unit of India’s largest public sector steel maker, Steel Authority of India Ltd (SAIL).

Click here for Part 2 of the story

Information Source – Jagran Josh

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Various aspects of Organizational Management

Image Credit: CommLab India

Management is the backbone of any organization and it is the way the organization is managed by the people that determines the growth of any organization. Management basically means the process of planning, organizing, leading and controlling the efforts of organization members and resources to achieve organizational goals. It is the size of the organization that usually determines the levels of the organization and the levels of management. As per the organizational hierarchy, there will be various kinds of managers working at different levels of the organization, top, middle and lower level supervising the activities of the people in the organization and planning things.

Planning is a very important aspect of the organization. First on a broader scale the goals of the organization need to be planned. What is it that is the organization wants to achieve? In what time frame? These are the factors that determine the goals of an organization. These goals once they are framed out they are then divided to small goals to be achieved by various departments, various people, from various levels to individual level, within the given time frame.

Decision making and communicating powers are usually divided at various levels as per the requirement. It is the top level management that decides the powers and functions of various people in the various levels of management. Accordingly as per their requirement, decision making power is given to them so that they can carry on the operations of the organization smoothly. In order to achieve organizational goals, on an individual level, various skills, technical and other skills, as per the need are required by the people. It is the duty of the managers, to see that the people are equipped with the necessary skills to achieve the goals of the organization.

So, management is everything for an organization, and the better the management and the managers the better the organization will achieve its results.

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Functional overview of Customer Relationship Management

Image Credit: Information Horizons Inc

It is the importance that an organization gives to its customers and to their relation with them that determines the growth and development of the organization. Customer relationship management is an information industry term, for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships, in an organized way.

The various functions of the customer relationship management can be described as follows:

• Customer relationship management, usually enables its marketing departments to identify their potential clients and their best customers, manage marketing campaigns and generate quality leads for the sales team. 
• Customer relationship management helps the organization to improve sales. Because only when there is a relation established between the client and the organization, will the client come back to the organization for the kind of services they provide. Otherwise there is no point why a client should come back to you for repeat business, he can go to any one else in the market, the reason may be any better price better quality or better customer relationship.
• Customer relationship management, allows establishing individualized relationships with the clients, this helps in improving customer satisfaction, and increases profits; 
• Customer relationship management allows identifying the most loyal clients, clients who have been sticking with the company for a long time and therefore enables the company to reward them or to provide them with some benefits, for their loyalty to the company. This increases the chances of establishing good relation with clients, and enables company to provide better and prompt services to these kinds of clients.
• Customer relationship management provides employees with the necessary information that they require, which helps them to know their customers, understand and identify customer needs and effectively build relationships between the company, its customer base, and distribution partners.

So, in essence, Customer relationship management allows the organization to manage their customer relationships, and thereby increase their profits.

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This Week in Business Skills - Preparation for Selling

Selling is a Skill (which one acquires skills in any thing by doing it repeatedly). Before approaching a client for sale, if we do some homework then it becomes easy to close the sale and have the result in our favor. Let’s have a look at some points on how to prepare for selling:

• Try to acquire knowledge about the client like from a website, history or from people related to the Client.
• Apart from gathering professional information, if possible try to gather some personal information like interests, hobbies, etc.
• Gather information about the client such as if he is a member of any club or organization or any voluntary organization or some society. This will help you to know the person and help you build a positive relation with him, which in turn will help you to close the sale.
• Work out on client’s needs; try to find out the reason as to why he can buy from you and work out in that direction.
• It is not just enough to make your sale somehow and come back with your commission. Before going to the client, you should know the good will that the client and his company have in the market. And what position or rating they hold in the market. This will give you idea if you can rely on the company and the client for the payment, you are supposed to get once you make the sale.
• You need to know if the person or the client you are approaching is the person with the authority to close the sale and to make the choice. If not who else is involved in the decision making process and in closing the sale. If that is the case you need to do homework regarding the other person also.
• The most important thing you need to find out, about the client is that, what kind of relationship does the client maintain and keep up with his vendors? Is he and his company only interested in money or are they interested in maintaining long term relations and good will. What is their prime concern only money or quality.

Do this home work before approaching a client for sale and you can be sure to give your best 100%.

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This Week in Business Skills - Viral Marketing

The now so called Viral marketing or internet marketing, is not a new concept but though a strong concept for both small and large businesses. This is what we used to call word of mouth publicity or marketing. Now it has expanded its form in a way that instead of simply doing word of mouth publicity we’re also using social networks to increase brand awareness and product sale through self-replicating viral processes, which otherwise called social media marketing . Here the person promotes products or shares information with his friends, family, colleagues and contacts. They in turn, if feel that the information or knowledge regarding products or anything is worth sharing with others, they share with their friends, family and contacts.

Effectiveness
This is what builds a chain of communication and marketing spreading like a worthy informational virus among people. This way the information passes on or the product promotion goes up. When people are convinced of the quality of the product, they prefer buying it and which increases sales. After using the product if they are satisfied with it then they refer to others which in turn increase the sales of the product and brand value in the market. Viral marketing yields fast and effective results and if used more effectively it can increase awareness among people regarding a particular product or sharing particular information within a short span.

Limitations

Like everything else there are some limitations in viral marketing too. Viral marketing will be beneficial only when the general public, have an idea about the concept of promotion or the product. Because people don’t usually believe, what they see over net. Where as if they have heard about it outside on air or on TV, they will be at ease in some aspect and believe what they have been referred to.

Viral marketing will be beneficial or reap results fast when there is awareness about the product among the people. If the product is available only on viral marketing, and people have to rely on the reference then it becomes a difficult task. So the retailer also has to open free stores initially for testing the product among people and get their feedback. If we rely on viral marketing as an addition to existing other types of marketing strategies then it will be good and beneficial. But to simply rely on viral marketing is never a good idea.

Follow us over Twitter @Neel5 or like Business News This Week in Facebook for more updates.

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Business Sucess: Positive Attitude and not Knowledge

Well, positive attitude is definitely one big asset that any business person should have, because business is no definitely a matter of minutes or seconds or even days, it requires enormous patience and tons of positive attitudes, to survive and win in this business world. But knowledge has its own part to play in the success of the business. While positive attitude helps you keep the flame alive and keep going, knowledge helps in doing things, and getting results.

Knowledge is very mush essential in running a business, and to keep a track of the things. You may have all the positive attitude in the world, but, if you lack knowledge. You need to depend on others for the show to be run, or a decision to be made, for what not? For each and every thing you are dependent, you will no more be independent. So, knowledge regarding beach and everything of the business is very much essential.

In fact, from the moment you plan to start the business, the idea itself, and for it to become reality you should have knowledge. To make a decision, as to what business would be best for you, what are your capabilities, what you need to do , how you need to do, each and every thing in business is dependent on how much knowledge you have. Knowledge is definitely one thing that is required, to start a business, to run the business, and to make a mark of your own, in the business world.

In business, knowledge is everything, if you want to make know, about market you need to have knowledge, you want to assess your employees performance, you need to have knowledge, you want to think of future developments and to invent you need to have knowledge, knowledge to thing about the future trends and needs. But, given all the knowledge in the world, and you have a negative attitude, you will be doomed to failure, in no time, because a negative mind can hear no good, can see no good and do no good. So, positive attitude is definitely the ultimate factor responsible for success in business.

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