Uday Salunkhe - enhancing global business competitiveness-action plan for indian business


Published on

This article talks about the action plan for Indian businesses to enhance global business competitiveness. It has been co-authored by Dr. Uday Salunkhe, Director of Dr. Uday Salunkhe, Director of the prestigious Welingkar Institute of Management and Research

Published in: Education, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Uday Salunkhe - enhancing global business competitiveness-action plan for indian business

  1. 1. 1 Enhancing Global Business Competitiveness - Action Plan for Indian BusinessProf. Dr. Uday Salunkhe Prof. Dr. P.S.RaoDirector DeanWelingkar Institute of Management Welingkar Institute of ManagementMumbai – 400019. Mumbai – 400019.IntroductionCompetition no longer is national or regional in character but has acquired global proportions.The emphasis too has shifted from natural competition to strategic competition (Henderson,1989). This has resulted in outcomes like compression of time, leveraging of strategic resources,building critical relationships and total customer orientation.It was established over two decades ago that unrelated diversification of business produces theleast advantage to a firm (Rumelt, 1994). Subsequently in the late 80s and early 90s emerged thetheory of Core Competency urging firms to concentrate on developing and growing along relatedstreams of technologies and production skills to gain sustainable competitive advantage (Hameland prahalad, 1990 ). This approach was modified by expanding the scope of competency toinclude capabilities eg. Wal Mart’s’ “cross docking” technique and Honda’s “dealer relationship”for service as well as manufacturing firms (Stalk , Evans and Shulman, 1992). The stress now ison the resource based view (RBV) of the firm which outlines the firm as a combination of abunch of resources including access to customers, brand equity, process skills and speedy productdevelopment, These have to be carefully leveraged to give the firm the competitive edge resultingin increased global market share (Coils and Montgomery, 1995). All of these have immenseimplications for Indian business.Challenges of GlobalizationIs Indian industry gearing itself to challenges of globalization and if so, to what extent? This issueis of great importance in the post- WTO scenario. Undoubtedly, global markets offeropportunities for all, but opportunities do not guarantee the desired results. For High PerformingAsian Economies as well as for China, the benefit of globalization is clearly reflected in the risingratio of their trade (imports plus exports) to GDP which is currently hovering around 40 to 45%.But in case of India, even granting the fact that our trade to GDP ratio has increased in the post-reforms period from about 13% of GDP in the early nineties to about 20% of GDP at present, wehave a long way to catch up with the levels achieved by the Asian Tigers.It is evident that India has a definite competitive advantage in products like gems and jwellery,readymade garments, cotton yarns, fabrics, leather products etc. which are typically labour-intensive and low value end products. There are also some of the sophisticated manufacturedproducts like engineering goods and drugs and pharmaceuticals wherein some contribution toexports is visible. But if we take the top ten of India’s exports wherein our share of globalexports varies in the range of 2 to 13%, these product categories together have only 12 to 15% ofthe global markets. In other words, in most significant areas of global manufactured productexport, India does not have any meaningful share of global markets.
  2. 2. 2The issue, therefore, is that the post-reforms period has yet to endow India with areas ofcomparative advantage to establish its leadership in the global markets. In contrast, India seemsto be emerging as a major exporter of IT products and services. In the last few years, exportsgrowth of the IT sector has been surging at 40 to 50% , and our total exports are projected to be$50 bn. by 2008 from the present about $6.5 bn. But even in the IT sector it is the softwaresegment where India is doing extremely well, while the hardware sector remains in its nascentstage.The RealitiesIndian Business and industry are no doubt under enormous pressure owing to the impact ofliberalization and globalization of the Indian economy,. However, the rise offop Islamicfundamentalism showing its ugly head in the terrorist attacks on the US followed by the US waragainst Iraq and Indo-Pak war have only added to the complexity of the already subdued businessenvironment in India as well as across the globe.On the other hand our northern neighbor china has stolen a clear march over us in the realm ofindustry growth. It has set up such huge manufacturing facilities, which have resulted in very lowcost unit. Political governance in that country is very disciplined too. The process ofliberalization in China started in 1979 has been steadily maintained, As a result of all these chinaaccounts for 4% of global trade while we are less than 1%. They have achieved FDI of over US$42 bn last year while India could get only about $2.5 bn.Competition is not restricted to the Chinese products. In many products categories we can seethat multinational firms are out doing domestic players in various businesses. Look at passengercars, consumer electronics, computer hardware, etc. we find Indian firms loosing market shareand control over business.Considering down to earth real life competition in the Indian market too reveals emerging trendswhich have to be taken stock of. The MNCs are following the policy of ‘in Rome do as Romansdo’ with predictable outcomes. Indian Companies have to respond to these tactics to maintain ifnot increase their existing market shares. Further, similar strategies will have to be adopted whenIndian firms go abroad. Whirlpool for instance is exploiting the kelvinator brand in therefrigerators market and the TVS brand in the washing machines market to take advantage of theassociation value of the well known Indian brands. Besides, it has researched and determined theneed for altering its existing product portfolio to suit the Indian customers and their life style.The company has therefore tailor-made 300 products exclusively for the Indian market.Pepsi Snack Foods for example have discarded ITS American snacks and have included in theirproduct line Indian Namkeens under the ‘Leher’ brand, Kentucky Fried Chicken and Pizza Hutboth subsidiaries of Pepsi Co. offer only ethinie cuisine knowing fully well that some of theirexisting products offered in foreign markets are not acceptable to Indian Consumers. Evenforeign TV channels like Star TV have started programmes in Hindi ( ET. March 1996 )Strategic Response OptionsHaving scanned the present state of Competition in the Indian Industry as well as at theindications of what is to come in future based on global competition the following strategies havebeen proposed which could enable firms to remain competitive.
  3. 3. 3Tie-up with MNCsIndian Companies especially start-ups can aim for global standards in their operations byassociated themselves with MNCs operating in India or are in India or are in the process ofsetting up offices here. The tie-up can be as a supplier or a franchisee / licensee. Numerousbenefits will accrue provided the Indian firm’s management is versatile. The pressure to performwill indeed be high as MNCs demand exacting quality standards, prompt delivery schedule, state-of-the-art production technology, economies of scale and low transaction costs. Take thestandards and practices for example in the food business which is highly perishable, it could notafford to source its eggs and potatoes from California and Idaho in U.S.A. respectively forobvious reasons. Desirous to ensure quality, the company went about systematically putting inplace its vender development programme necessitating its supplier to negotiate a technology-transfer arrangement or a joint venture with an international Mc Donald’s supplier. Initially theprocess was both painful and rigorous. But subsequently it has enabled Indian suppliers to forgebusiness relationships globally leveraging with the Mc Donald’s brand equity. (ET, September1996).Dynamix Dairy is a case in point. This Maharashtra based supplier of cheese to Mc Donald hasalso become a supplier to Eri International, an international supplier of milk products to Mc -Donald’s. Another supplier of lettuce to the MNCs Indian operation now supplies anothercompany’s restaurant in the Middle-East as well.. This is probably just the beginning. As Indiais a low cost production base, armed with Mc Donald’s brand these suppliers can becomesourcing centers for many MNCs world wide. The advent of an MNC has enabled these firms torise to International standards. This strategy is open to other India firms which are enterprisingand have a strategic visionAttacking MNCs on their home ground :It has been aptly said that offence is the best form of defence. Indian companies must not restfighting MNC competition in India but must devise ways and means to take it to their domesticmarkets. This is easier said than done, no doubt . However, to foreclose its possibility wouldindeed be cowardly or a product of myopic vision.One reason why MNCs are rushing to emerging markets is that competition is heating up in theirhome markets especially from private label manufacturers, in the grocery industry for example,store brands in 1994 accounted for around 15 percent of sales in US and in the UK around 36percent. ( Hoch, 1995). Therefore, for many Indian manufacturers, alliances with European andAmerican distributors may be a more viable proposition than joint ventures with foreignmanufacturers in India.The retailers in the west have successfully evolved and implemented a strategy of fightingestablished brands and as consequence in many industries the own-label goods today account fora quarter of all goods sold via large distributors in the U.K. These goods are of a qualityequivalent to branded goods, enjoy the equity of the some name, enjoy prime shelf space instores, get more sales talk, and are priced lower due to lower overheads, etc. Marks and Spenceris a classic example. Further, many large retailers have started internalization finding their homemarkets small and saturated. Example is Carrefour of France. This is leading to the phenomenonof internalization of sourcing (ET, June 1996). This trend has important implications for Indian
  4. 4. 4manufacturers. Following the logic of ‘my enemy’s enemy is my friend’, Indian manufacturersshould befriend these foreign distributors ad obtain private label contract from them.The benefits are enormous. Both investment and technology can be obtained from thesedistributors, serving international markets will enable better understanding of the mode ofoperations of transnational, high quality standards can be achieved and economics of large scalewill accrue owing to the size of demands of the global distributors leading to cost advantage.finally these products can be introduced in the domestic market with the promotional messagethat these products have succeeded in many foreign markets though in the guise of foreign brandnames.Cushioned International Entry Vs Big Bang ApproachThat Indian companies must venture into foreign markets to survive and compete in the long runneeds no debate. What requires attention is the market/customers that have to be targeted.The strategy of taking on market leaders in foreign markets involves high risks but if successfulthe pay offs are even higher. When some Indian firms could do it successfully why not others.Take the case of Titan which has decided to take on global competition head on. It neither deniednor focused on Indianess as it could work to its disadvantage due to the image Indian productshave abroad. It positioned its watches as a product of a synthesis of global cooperation:technology from India and Japan, design form Switzerland and France, and precision engineeringform Germany. A position not taken by any other global watch brand, with presence in eightcountries Titan Industries now expects 20 to 25 percent (about 8.5 lakh pieces) of its watch salesto come from international markets. The fact that it has arrived internally can be judged by thefact that the company won the bronze award in a competition recently organized by Europeanassociation of Advertising Agencies (ET, October 1996).A second case in point is Asian paints, a success story of outright entry into foreign markets. Theprimary factor responsible for it as confidence and success is its Indian experience of havingunseated world leaders to occupy the leaders position in the Indian paint industry from the initialposition of being a non-entity. Asian paints strategy in foreign markets focuses on total customersatisfaction, adapting products to local needs, and incorporating local symbols of brandrecognition, popularity and local identification. (ET, September 1996). This strategy hasdelivered 50 percent market share in Fiji having entered there in 1977; 20 percent market share ofhousehold paints in Australia by mid 1999. Indian companies can enter international marketsalong any one of these paths or through both approaches in different markets. If the ultimateobjective is to become a successful global player then Indian players must be prepared to take ontheir international counterparts head on sooner or later.Strategic Alliance as a Competitive Tool:Strategic Alliance is an inter firm link established through contractual agreements like joint R&Djoint product development, long-term sourcing agreements, joint manufacturing / marketing andshared distribution/service (yoshino and Rangan, 1995). It is a double-edged sword that helpsbusiness conquer new areas of business if handled properly and if not damages the businessinterest to an extent that perhaps no other tool or technique can. (Mehta and Sampat, 1996).Arvind Mills is an outstanding example of an Indian firm which has taken advantage of suchalliances. Sanjay Lalbhai, CEO. has guided Arvidn Mills into several strategic alliances which
  5. 5. 5has enabled the company to move towards globalization, The company has entered into amarketing and technology transfer agreement with Almac JKKnit Fabrics of US. While thelatter will continue to concentrate its efforts in the western hemisphere, the former will market itsquality cotton knitwear under the “Arvind almac” brand name in India, Asia and Africa. ArvindMills has similar tie up with FM Hammerle of European eminent shirting Fabric producer tomarket shirting under their combined brand name ”Arvind Hammerle”. The International brandnames “arrow” and “Lee” too have been brought to India by Arvind Mills.They usually do not permit export from the alliance to foreign markets in which they alreadyhave a presence. They bring to the alliance technology which is either obsolete or a generation .They obstruct proper transfer of technology and learning and charge high fee / royalty. Theyseek to extract much more than they bring. It is however not true of all MNC partners. (BT,October 1996)It has also been observed that many joint ventures in India have been struck as the Indian partnersconsider it a fad which they have to adopt in keeping with the fashion. The foreign partner too isin a hurry not to be left behind in the race to capture the liberalized and growing Indian marketIndian market potential, on the contrary if the alliance has to serve as a ground for learning forboth partners and a competitive tool for them, it has to be formed after an in-depth analysis.When unplanned it comes unstuck or ends in management take-over. In either case it createsbitterness in both the partnering companies and leaves an impression that the technique itself issuspect.OutsourcingInstead of manufacturing all one’s requirements in-house or integrating backward, a company forstrategic reasons can depend on suppliers and thereby gain numerous advantages competitionhas forced even leading companies like IBM, GE and Mercedes to focus on their core strengthsand let others do what they cannot be excellent at themselves, (ET, August 1996). In this kind ofpartnering, perhaps the greatest leverage of all is the full utilization of eternal supplier’sinvestments, innovations, and specialized professional capabilities that would be prohibitivelyexpensive or even impossible to duplicate internally. In rapidly changing market places andtechnological situations this joint strategy decreases risks, shorten the cycle time, lowersinvestments and creates better responsiveness to customer needs (Quim and Hilmer, 1994) Takethe case of Nike, Inc., which is the largest supplier of athletic shoes worldwide, it outsourcers 100percent of its shoe production and manufactures only key technical components, Nike createsmaximum value by concentrating on preproduction ( R & D) and postproduction activities(marketing, distribution and sales) linked together by perhaps the best marketing informationsystem in the industry. It even outsourced the advertisement component of its marketingprogramme, which drove Nike to the top of the product recognition scale. As a consequence itgrew at a 20 percent compound growth rate and earned 31 percent ROE for its shareholdersduring the 80s (Quima and Hilmer, 1994)Japanese style partnering:There was a need to understand the significance of outsourcing. However the Japanese style ofdoing this needs special mention as the modus operandi is different as also its outcomes. TheJapanese manufacturers have mastered the art of outsourcing or partnering with its suppliers andin comparison to its western counterparts (particularly American), they have achieved superior
  6. 6. 6payoffs, Japanese Ministry for international Trade and industry (MITI) went to the extent ofstating the Japanese manufacturing Industry owes its Competitive advantage and strength to itssubcontracting structure (Dyer and Ouchi,1993).The Japanese-style partnering is an exclusive or semi-exclusive supplier-purchaser relationshipthat focuses on maximizing the efficiency of the entire business system or the value chain. It hasseveral goals. One is to increase quality while minimizing the total value-added costs that boththe supplier and the purchaser incur. Another is to work together to solve the problems andexpand rather than split the pie. A third reason is to take advantage of economies of scale in bothproduction and transaction costs.This kind of partnering has paid rich dividends to Japanese manufacturing industry. Consideringthe auto industry for example Japans market share of worldwide passenger car productionjumped form 3.6 percent to 25.5 percent form 1965 to 1989. Japanese auto firms had achieved a20 to 25 percent cost advantage per car versus US firms.What should Indian companies do?The only hope for Indian companies is to become competitively stronger by focusing on the threeimportant dimensions of modern business. These are customer, competition and competenciesthe 3C’s of success in the market place.The traditional approach to these three business dimensions has to change, which will result aparadigm shift. Customer Competition CompetenciesAction plan for Indian Business:How to Manage Customers ?In today’s markets, which are customer driven, Indian firms have to recognize the importance oftechniques /processes perfected in highly competitive developed markets. These includerelationships marketing, solution selling, business process integration and leveraging informationtechnology.Relationship Marketing :Developing relationship with employees in customer organization at all levels is of primaryimportance today. Companies the world over are achieving this by forming cross-functionalteams with customer personnel. Many companies send their people from product development,engineering, manufacturing, quality control, etc. from time to time to work at customer’s
  7. 7. 7premises and help customer needs and concerns, Customer intimate companies must cultivatesome outstanding characteristics of their own like agility, judiciousness, diplomacy, foresight ,and willingness.Solution Selling :What customers are increasingly looking forward to is not just products but custom made totalsolutions. This requires an understanding of the customers business, their culture, their businesspractices, etc. to appreciate their needs and help craft such solutions. This complete package islikely to include advisory services, finance, customized product design, installation support,employ training and inventory management relevant to the supplying company’s product.Degremont is a French water treatment company with purification plants in more than 40countries. Sales exceed $1 bn; growth rate is over 5% annually. Degremont’s success is theresult of its wise, long-term investments in understanding market needs and then crafting tailormade solutions. Each of the country Degremont operates has a distinctive culture, climate,language, and standards for water purification and regulatory environment. China, where it has30 plants has even regional differences.Business Process Integration:Companies are re-engineering their business processes around customer’s needs. These newprocesses are cross-functional. For Example product development process may involve personnelfrom marketing, Finance, Manufacturing, Design, etc. Now dynamic companies are going onestep further and integrating their business processes with customers to achieve greater customersatisfaction. For Example, collaboration on designing can be achieved by integrating the design,manufacturing, product delivery and other business processes to customer needs.With integration the supplier and customer jointly redesign their operating models and businessprocess, as if they were a single company rather than two distinct entities.Marshall Industries, distributor of electronic components allow customers customized access toits product, services and information any time of the day from anywhere, via methods likeinnovations as 24-hours service, on-line internet ordering and a robotic warehouse. DiagnosticInstrument Corporation has become its customer’s virtual manufacturing department. Diagnostictakes the design and specifications. It sources, costs, procures, buys, and tests the materials; andfinally, it assembles and tests the consumer’s final product, usually a printed circuit board.Leveraging IT:With the advent of IT technology several companies maintain databases on key customers todevelop relationships. Companies are integrating and customizing business processes whilecreating additional values for their customers by applying tools of Information Technology.Amazon.com maintains databases on customer preference and pro-actively advises them onpurchasing books based on their past purchases. For example it informs new release of referredauthors subjects etc. Amazon also allows customers to chat with other customers having similartastes to help them take decisions. It also maintains record of birthdays and anniversaries of keycustomers and sends them greetings.
  8. 8. 8Hotels like Holiday Inn maintain databases of customer preferences and suggest services as percustomer liking e.g. Menu to dinner, or music of preference or toiletries of choice, and the like.How to manage competition fully? Through study of the value chain of the firm and by dissecting it carefully. Identify activities one can perform better or cheaper than other competitors do and concentrate on them alone. Restructure the business accordingly, this may for example result in the firm discontinuing manufacturing completely and resorting to outsourcing It may also involve relocation of its manufacturing operations even to another country. Benchmark competitor’s processes. This is necessary to create the best standard for different processes. The ultimate objective being not only to achieve these best-in-class milestones but to even surpass them,. It may be possible to benchmark non-competitor processes if they are analogous. Develop sustainable competitive advantage,. This is the biggest challenge as few firms are able to sustain their past competitive advantages as possible because of relationships built with customers with regard to technology, quality, cost and other competitive factors. Outsource whatever one is not good at except the core technology. Otherwise today’s supplier will definitely become tomorrow’s competitor. Need to recognize the difference between lean manufacturing and batch queue manufacturing. The former has resulted in confrontation strategy where focus has shifted from sustainable competitive advantage to fleeting competitive advantage with focus on innovation and operational efficiencies (including Activity Bases costing, Target Costing, Value engineering ,TQM ,etc.)Needless to say that firms concentrating on customers, competencies and competition byleveraging the approaches to relationship management, solution selling, business processintegration and appropriate use of IT are bound to benefit enormously. Sundaram Fastners Ltd. isa very good example of an Indian firm, which has achieved this distinction from none other thanGeneral Motors of USA. Asian Paints too has achieved market leadership status in the face ofstiff competition from MNCs by leveraging such practices.How to develop superior competencies? Become a global player in size whether it is a niche market or mass market. Except for the Reliance group and other Indian company is contemplating global size for its operations. Acquire the appropriate technology. Latest technology may not serve the intended purpose. Strike strategic alliances or joint ventures wherever necessary. This will enable domestic players to bridge technology gaps vis-à-vis international competitors. Go in for co-optition where risk is high for fellow competitors, This involves joining hands with competition especially in R & D activities to reduce the risk involved in such investments. Invest continuously in R & D. Compared to their international counterpart Indian companies spend very little on future technology, Very soon this results in product obsolescence and slavish dependence on MNCs for technology. Develop the best brands. Deliver on quality, functionality and price.
  9. 9. 9In a recent survey conducted, it was reported that most companies (surveyed) in India were inthe process of restructuring themselves to become more Competitive in view of the intensity ofcompetition emerging due to the opening of the economy. However, very few of them arethinking and acting in terms of being a multinational or a global economy, Indian firms who havesucceeded in going global include Ispat International a wing of the Ispat group. During the last25 years it has established base in 8 countries across the globe and is ranked among the 15 topsteel making companies. It began its Internalization process in Indonesia and now has presencewith production bases in Trinidad, Mexico, Canada, U.K., Germany, Ireland and Kazakhstan. Itis a fore to reckon with (ET, December, 1995)Tata Tea is also globalizing its operations. It has a strong presence in Srilanka as it has alreadyacquired major plantations there. It is now in the process of acquiring gardens in East Africancountries like Kenya, Uganda and Zambia. It has made the sensible choice to tap the Africansuccesses in tea growing with that appropriate blends of fine Indian and African teas can be usedto capture the demand of the European markets where tea is a common item of consumption.(ET, October 1996)At the cost of repletion, it must be stated that Indian companies have to realize that in the longrun if they have to remain competitive they have to do what the competition (foreign) is doing ,ifpossible do it even better. The MNCs have mastered the rules of the game. They are adepts incontrolling costs, managing waste, maintaining and improving quality, increasing productivity,developing products rapidly, excelling in diverse cultures, lobbying with government and servingand satisfying customers. This has occurred to them because of large scale operations, havingproduction and sourcing bases around the world, efficient vendor systems, global brands, accessto cost effective resources, the practice of competitive benchmarking and a keen desire to learn.To compete with, come well armed, otherwise it will soon become one sided game. Theimplication therefore is that Indian business enterprises must think in global terms when takingup any business activity which must be driven by a vision, a sense of grandure and a grandambition.ConclusionThough the way is there for all Indian firms to emulate, it is not so easy. It requires tremendouseffort, cultural transformation and change in outlook, the journey from a sellers market to acustomers market via free market mechanism implies discipline that many firms in protectedeconomies are able to complete successfully. This is where the challenge lies. The demands aswell as the route to accomplish it is known but how many Indian companies will rise up to theoccasion remains to be seen. Those who do not succeed in this paradigm shift will indeed notsurvive in the long run. The ideal for any company is to become, the ‘paradigm shifter’ in itsindustry-to spring surprises at players and never be taken by surprise.
  10. 10. 10REFERENCES1. Bruce D Hunderson, “The origin of Strategy” Harvard Business Review, November – December 1989,P.A.2. R.Rumlet, Strategy, Structure and Economic Performance (Cambridge, Massachusetts: Business Review, May-June 1990,P-81.3. C.K.Prahlad and Gary Hamel. “The Core competency of the Corporation”, Harvard Business Review, May-June 1990,P-81.4. George stalk, Philip Evans and Lawrence E Shuelman, “Competing on Capabilities: The new rules of Corporate Strategy.” Harvard Business Review, March April 1992, P-605. David J Collis and Cynthia a Montgomery, “Competing for Resources: Strategy in the 1990s” Harvard Business Review, March April 1992 , P-606. “Global in the Indian Fashion”, The Economic times Brand Equity, 13-19 March 1995,P-57. “Burgery Insurance at Mc Donalds”. The Economic times – Corporate Dossier, 20-26 September, 1996 P-2.8. Michael Yoshina and Srinivas Y Rangan, Strategic alliances. An Entrepreneurial approach to globalization (Cambridge, Massachusetts : Harvard Business Review, Press, 1995)9. Dhawal Mehta and Sunil somanta, “The Nature and significance of Strategic Alliance”, Vikalpa Vol. 21, April-June 1996, P-15.10. “Partnership Paradigm”, Business today, 7-21 October 196, P-8011. “Divide and Rule “The Economic Times – Corporate Dossier 16-22 august 1996, P-3.12. J.B.Quim and F.G.Hilmer, :”Strategic outsourcing,” Solan Management Review, Summer 1994, P-43—4413. Stephen J Hoshc, “How should National Brands Think ‘About Privates Labels, “Solan Management Review, winter 1996, P-8914. “Brand Strategies”, Business today, 7-21 June 1995, PP – 135-13915. “Titan Wins Bronze Award in Europe” The Economic Times, 25 October 1996, P-9.16. “A Question of confidence”, The Economic Times – Brand Equity,18-24 Sept. 1996, P-1.17. Jeffrey H Dyer and Willam G Ouchi,” Japanese – Style Partnerships : Giving Companies a Competitive Edge”, Solan Management Review, Fall 1993, P- 5118. “Turning Around Globally, The Economic times – Corporate Dossier, 8-14 December, 1995, P-219. “Tata Tea Globalize”,The Economic Times –Corporate Dossier, 8-14 December, 995 P-2
  11. 11. 11Author’s ProfileProf. Dr. Uday Salunke Director - Welingkar Institute of Management is amechanical engineer with a management degree in Operations, and a Doctorate inTurnaround Strategies. He has 12 years of experience in the corporate world includingMahindra & Mahindra, ISPL and other companies before joining Welingkar in 1995 asfaculty for Production Management. Subsequently his inherent passion, commitmentand dedication toward the institute led to his appointment as Director in 2000. Dr.Salunkhe has been invited as visiting fellow at the Harvard Business School, USA andEuropean University, Germany. He has also delivered seminars at the Asian Institute ofManagement, Manila and has been awarded "The Young Achievers Award-2003" inthe field of Academics by the Indo American Society recently.