Luxury brands growth in India Essay Example for Free

Luxury brands growth in India Essay Lack of quality luxury space, environment and dearth of high street or super premium malls is a prime reason for restricted presence of luxury brands in India, thus there is a dire need for modernized and dedicated luxury retail areas in protected vicinities such as airports, according to a recent ASSOCHAM-KPMG joint study. Setting up stores in high streets affects luxury retailers profitability due to sky-rocketing rental costs, moreover, high streets are very cluttered, crowded and are unsuitable due to the absence of exclusive ambience that luxury retail demands, according to a study on Challenges highlighted by luxury retailers in India, jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and KPMG. The Indian luxury market grew at a healthy rate of 30% to reach $8. 5 billion in 2013 and is likely to continue growing at a healthy pace of about 20%, and reach $14 billion by 2016 owing to rising number of wealthy people, growing middle class, affluent young consumers and other related factors. Though, India currently enjoys just one-two per cent share in the global luxury market but it is the fifth most attractive market for international retailers. Fragmented and diversified consumer base in India is another significant challenge being faced by luxury retailers in India as high net worth individual ( HNI) consumers are not easy to reach, noted the ASSOCHAM-KPMG study. Luxury brands need to strategically design their growth plans to tap demand across three categories of HNIs, namely the inheritors (traditionally wealthy) who are habitual spenders; the professional elite who are discerning spenders; a large segment of business giants (entrepreneurs, owners of small and medium enterprises) who have the money but lack appreciation for fine luxury goods because of no prior exposure to such products, it added. There is a need for luxury brands to focus on expansion in the type and nature of products being offered and increasingly adopt innovative marketing plans to tap rapidly evolving consumer behavioral trends, said Mr D. S. Rawat, secretary general of ASSOCHAM while releasing findings of the study. Luxury retailers need to plan out of the box marketing strategies and come up with products that are tailor-made to suit the whims and fancies of varied Indian customers, said Rawat. Luxury is no longer a status symbol but is now a lifestyle and the global brands need to fast evolve and learn ways to adapt within the local environment so that they can get accustomed to nuances of the market by understanding the cultural identity of Indian consumers. Lack of policy support is another prominent challenge being faced by luxury brands in India, noted the ASSOCHAM-KPMG study. Despite strong demand momentum, Indian luxury market has not been viewed as policies and regulations friendly for the luxury retailers, the report said. Import duties (20-150 per cent) are relatively higher and this is considered as a key apprehension factor among the international players, who may resist them to frame aggressive growth plans for India, noted the study. Clauses such as 100% foreign direct investment (FDI) in both single and multi-brand retail requires 30% of local sourcing, announced in the liberalized FDI policy in luxury retail in November 2013 could be difficult for the international luxury players to comply with. The duties are manifold ranging from customs duty, counter veiling duty (CVD), special additional tax, education cess adding to the overall cost, said Rawat. Besides, luxury retail is also affected by the system of maximum retail price as it applies to custom duties and to cascading after the custom taxes, thereby heavily penalizing foreign brands pushing their overall entrance costs by up to 40%. Lack of trained staff is another well-acknowledged challenge facing Indian luxury retail industry which requires greater discretion and knowledge on the part of a salesperson, further highlighted the ASSOCHAM-KPMG study. Shortage of skilled labour for the industry is a major cause of concern as it is difficult to make the local workforce understand the heritage and legacy of the brand along with the specific finishes involved in the manufacturing process, said Rawat. In the absence of these requisite skill sets, brands have no option but to manufacture in their country of origin; lack of skilled workers can also be attributed to the sales function where presentation and interpersonal skills form an integral element for the business. Growing prevalence of counterfeit luxury goods and a grey market are also hampering the growth of the industry, noted the ASSOCHAM-KPMG study. Most of these products belong to segments such as apparel, perfumes and accessories, which are usually lower ticket items and can be easily placed in grey channels. Luxury players in India continue to face supply side issues such as legal loopholes pertaining tointellectual property rights, inadequate means to monitor various emerging channels, and a growing number of online portals, among other factors, the study added. A collective, industry wide effort is likely to have a far-reaching impact in dealing with the issue as seen in other industries such as films and music. Awareness and collaboration also needs to be built with authorities, who have experienced major revenue losses   due to loss of taxes and duties, on how to deal with counterfeits, further suggested the study to counter the growing menace of counterfeit luxury products. Corrective measures need to be taken to banish the growth of grey luxury goods market in India which results in sizeable revenue losses for firms, said Rawat, and added that a strong legal structure combined with effective framework of intellectual property protection would help prevent dilution of brand image and reduced consumer trust. Measures in form of effective intellectual property enforcement, plugging loopholes in the legal and judicial structure and higher conviction rates can help curb the growth of fake luxury products, said Rawat. Information collected through secondary sources such as internet and local newspapers†¦

Losing Weight the Correct Way Essay example -- Health Exercise Weight

Losing Weight the Correct Way Though many Americans are in the diet and weight-loss craze, the population as a whole is still considered overweight (Lemonick). This may be due to many factors, such as lack of nutrition in food and having a slothful lifestyle. Also, as people pursue other interests, such as careers and family life, they ignore keeping themselves healthy and fit. To maintain health and life span, one must exercise, eat moderately, and eat foods that have nutritional value. If one follows this plan, one can successfully lose weight and be healthy.   Ã‚  Ã‚  Ã‚  Ã‚  Exercise and having an active lifestyle is an important component to maintain in order to lose weight. Some people may think that if they skip a few meals a day and cut down on snacks, that they will lose weight without having to exercise. However, this is an incorrect assumption. To lose weight in a way that doesn’t damage one’s body, one has to make time to exercise. Skipping breakfast and ignoring when your body tells you it needs energy from food is not the way to safely lose weight. When one exercises, he slowly burns off fat, which helps the body function smoothly and effectively. Though, nowadays, people don’t have time to go to the gym or take aerobics classes, simply taking the stairs instead of the elevator is a way of keeping oneself active and can make a huge difference in one’s health.   Ã‚  Ã‚  Ã‚  Ã‚  People must learn to eat moderately to effectively lose weight. It seems as if as the American popu...

Too Much Delegation In Nissan

Good communication skills can help a manager successfully delegate responsibility to subordinates. It is a process of good thing that spreads the workload, rewards subordinates with decision making power, develop subordinates capabilities and allow decision to be made. By practicing delegation process, an organization can do achieve their set of goal. Nissan, a renowned Japanese automaker is the best example of practicing delegation. From the case study â€Å"Too much delegation at Nissan†, we have got some findings that how Carlos Ghosn, CEO of Nissan, did apply to get success by practicing delegation.Question 1: What are some advantages that Carlos Ghosn can expect to obtain from retaining decision-making authority at the CEO level? What are some potential pitfalls that he must be aware of? Answer : Carlos Ghosn, CEO of Nissan joined in 1999. Nissan, Japanese automakers vehicle that is 44% own of second largest car company in Japan namely Renault. Before joining Carlos, Niss an was near bankruptcy. They had unappealing models, low market share and declining profitability. At this crucial moment, Carlos took responsibility in Nissan to safe its sink.Skilled Carlos think â€Å"what people think about him and which approach should apply? †. He did not apply traditional approach even he did not convince the people. Ghosn laid off employees who acted as advisors but had no operational authority. He consulted his subordinates, then made decision own. He hired hot designer from rival firms and gave them authority over new product development resulting slew of innovative, award winning designs such as the Xterra and the updated stylish new altima.As a CEO, Carlos can expect to obtain from his subordinates- To get more work following a team based work – To help him burden by doing major portion of the organizations work. – Designer will do provide high range car design. – To solve any existing problem and innovate of new idea.  œ Subordinates will operate and monitor all about operational activities. As Carlos, got all type of supported from his subordinates, He did able to revive new model. Although he had aware of some pit falls. – Actually, he did follow boldness and risky approach where as all other Nissan Manager followed Caution and slowness.As cost cutting approach had lead to success all other divisions of Renault, Carlos did reduces expenses. – And most important his hidden inspiration. He inspired the designer hired from china for their special design. Upon his successful guide and delegation, Nissan profits and sales are up substantially. With eight new models in 2003 and four more in 2004. Nissan has the potential to surpass Toyota currently number one automaker in Japan and the innovation is continue. Question 2: Give at least three example of decisions that can be most effectively made with a decentralized process.Give at least three examples of decisions that can be most effect ively made with a decentralized process. Do not use example from the case above. Explain your choices. Answer : Decentralization and its example: Decentralization refers that, decision making is not only restricted to top management. Decision are also made by lower level employees because they are more towards the action of performance. They can quickly solve the problem and more people are involved in giving decision. Decentralization make employees feel that organization is trusting on them and giving right to make decision.Example 1: As the company X is suffering from loss for two years, the employee concluded that as the company is closed for 5 to 6 days per month in a year due to strikes in country, productivity is low. So to achieve the productivity, employee will do over time. Example 2: Franchise company like KFC, control most product development and marketing strategy at the top, but they give franchise owners a great deal of independence in running their individual stores. Franchise owners make staffing decisions, decisions on hours of operation and compensation decisions completely on their own.Example 3: Sainsbury`s, the second largest retail shop in across the UK, the CEO Justin King have given their store manager considerably more discretion on what merchandise to stock in their store. Today in modern world, most organization is following decentralization. It makes organization more flexible and responsive. Centralization and its example: Centralization refers that decision making in the organization can be done by only top management. It is the formal authority that top management will give decisions which will be followed by everyone without any changes.When only top managers take decision without any option of lower level employees, the organization is centralized. In simple word, top manager has right to take decision without any view of lower level of manager is called centralization. Example 1: Top management of Company X decided that the m edical facility of the employees will not be provided for six month because the company is suffering from loss for two years. Example 2: A manager of a trucking company makes all operational decisions, sending information to the individual drivers through dispatches.Example 3: The central bank of Bangladesh monitoring and evaluating all other govt. owned bank and private bank in Bangladesh. They published rules and regulation for other bank and every bank followed this rules. Those decision are taken by only top management without any recommendation of lower level employee. Question 3: Japanese management system depends on high specialization. Dose a high level of specialization typically lead to decentralization? Why or Why not?Answer: The Japanese management system depends on high specialization and this lead  to decentralization. We know that, specialization typically related with decentralization. Specialization is the degree to which the overall task of the organization is br oken down and divided into smaller component part where as the decentralization is the process of systematically delegating power and authority through the organization to middle and lower level organization.That means, when specialization follow its every steps like rotation, enrichment, enlargement etc. every employees got some power to achieve the selected target i.e. some systematic delegation has been practiced . An example like Pin factory, improved its productivity using specialization. One man drew the wire, another straight tended, a third cut it and a fourth ground the point and so on and thus on ten man produces 48,000 pin in a day, where as a man alone could produce 20 pin per days. Here, we see that the systematic delegation has been followed in every lower level employee to do work independently as well as the employee did team work that completely reflected decentralization process.From the case study we have known that, all most all business firms in Japan, are tradi tionally team based structure and a consensus approach to decision making which clearly reflected decentralization. The management system in Japan allows a lot of participation from employees at all levels. The management expertise understand the consumer, understand the people they are dealing with and they understand the government and they need in the market place. Based on need they hire high ranking manager who guide the employee as well as give them power to achieve target and they are getting success.The above description of specialization and decentralization, it is clear that both are the same pattern and interrelated. For success in any business not only in Japan but in all across in the world it is essential to follow decentralization a well as specialization. I am strongly agree that high level of specialization lead to dencetralization. —- Question 1: What are some advantages that Carlos Ghosn can expect to obtain from retaining decision-making authority at the C EO level? What are some potential pitfalls that he must be aware of? Answer :Nissan, Japanese automakers vehicle that is 44% own of second largest car company in Japan namely Renault. Before joining Carlos, Nissan was near bankruptcy. They had unappealing models, low market share and declining profitability. At this crucial moment, Carlos took responsibility in Nissan to safe its sink. Ghosn laid off employees who acted as advisors but had no operational authority. He consulted his subordinates, then made decision own. He hired hot designer from rival firms and gave them authority over new product development resulting slew of innovative, award winning designs such as the Xterra and the updated stylish new altima.As a CEO, Carlos can expect to obtain from his subordinates- To solve any existing problem and innovate of new idea. – Subordinates will operate and monitor all about operational activities. – To get more work following a team based work – To help him b urden by doing major portion of the organizations work. – Designer will do provide high range car design. As Carlos, got all type of supported from his subordinates, He did able to revive new model. Although he had aware of some pit falls. – Actually, he did follow boldness and risky approach where as all other Nissan Manager followed Caution and slowness.As cost cutting approach had lead to success all other divisions of Renault, Carlos did reduces expenses. And most important his hidden inspiration. He inspired the designer hired from china for their special design. Question 2: Give at least three example of decisions that can be most effectively made with a decentralized process. Give at least three examples of decisions that can be most effectively made with a decentralized process. Do not use example from the case above. Explain your choices. Answer :Decentralization: Decentralization is the process of systematically retaining power and authority throughout the or ganization to middle and lower level manager. They can quickly solve the problem and more people are involved in giving decision. Decentralization make employees feel that organization is trusting on them and giving right to make decision. Example 1. As the company X is suffering from loss for two years, the employee concluded that as the company is closed for 5 to 6 days per month in a year due to strikes in country, productivity is low.So to achieve the productivity, employee will do over time. 2. Franchise company like Pizza Hurt, control most product development and marketing strategy at the top, but they give franchise owners a great deal of independence in running their individual stores. Franchise owners make staffing decisions, decisions on hours of operation and compensation decisions completely on their own. 3. Wal-Mart the largest retail shop in across the USA, The higher authority have given their store manager considerably more discretion on what merchandise to stock in their store.Centralization: Centralization is the process of systematically retaining power and authority in the hand of higher level manager. When only top managers take decision without any option of lower level employees, the organization is centralized. In simple word, top manager has right to take decision without any view of lower level of manager is called centralization. Example 1. Top management of Company X decided that the medical facility of the employees will not be provided for six month because the company is suffering from loss for two years. 2.A manager of a trucking company makes all operational decisions, sending information to the individual drivers through dispatches. 3. The central bank of Bangladesh monitoring and evaluating all other govt. owned bank and private bank in Bangladesh. They published rules and regulation for other bank and every bank followed this rules. Question 3: Japanese management system depends on high specialization. Dose a high level of specialization typically lead to decentralization? Why or Why not? Answer : The Japanese management system depends on high specialization and this lead to decentralization.We know that, specialization typically related with decentralization. Specialization is the degree to which the overall task of the organization is broken down and divided into smaller component part where as the decentralization is the process of systematically delegating power and authority through the organization to middle and lower level organization. That means, when specialization follow its every steps like rotation, enrichment, enlargement etc. every employees got some power to achieve the selected target. An example like Pin factory, improved its productivity using specialization.One man drew the wire, another straight tended, a third cut it and a fourth ground the point and so on and thus on ten man produces 48,000 pin in a day, where as a man alone could produce 20 pin per days. Here, we see that every lower level employee had some power and authority to do work independently as well as the employee did team work that completely reflected decentralization process. From the case study we have known that, all most all business firms in Japan, are traditionally team based structure and a consensus approach to decision making which clearly reflected decentralization.The management system in Japan allows a lot of participation from employees at all levels. The management expertise understand the consumer, understand the people they are dealing with and they understand the government and they need in the market place. Based on need they hire high ranking manager who guide the employee as well as give them power to achieve target and they are getting success. I am strongly agree that high level of specialization lead to decentralization.

Analysing Two Humanistic Theories Person Centered and...

1.1) INTRODUCTION Humanistic theories emerged in 1950s. We have two types of humanistic theories, the first one is Person-centred theory by Carl Rogers which is based on how people see them-selves in relation to their personal experience and the second theory is Self-actualisation by Abraham Maslow which is based on the needs that motivate people. In this paper both theories will be described in detail and also they will be evaluated. 1.2) DISSCUSSION 1.2.1) ROGERS’ PERSON-CENTRED THEORY Self-concept it is the collection of experiences and beliefs about one self, and how these experiences, beliefs interact to form a picture according to individual’s perspective what kind of a person an individual is. This includes physical and mental†¦show more content†¦Parents make their love conditional or unconditional. Unconditional affection, children do not necessarily need to change unworthy experiences because they know they are worthy of love or affection. For example children with high confidence, brave children who would present their speech in front of millions of people. Conditional affection promote congruence, children do not distort their experience to feel worthy because they believe that they are worthy. Conditional affection, children mostly change unworthy experiences because they might be not accepted because they believe love is conditional from others. They will twist their experience to feel worthy of acceptance. Conditional affection promotes incongruence, for example children who lacks confidence and who wait to be told what to do. 1.2.3) Anxiety and Defence People whose self-concept high incongruence makes their experience contradict with their self-perception. Relatively incongruent self-concept leads to recurrent anxiety. There for from this anxiety they display defensive behaviour in order to relate their experience with their self-concept so that it will seem quite accurate, i.e. they protect their self-concept by displaying defensive behaviour of ignoring, denying and twisting reality (Wieten, 2014). This means they fear to face reality, which according to them depress them i.e. they make their own self-concept. They do not accept them-selves theShow MoreRelatedComparison of Behaviorism and the Humanistic Approach3225 Words   |  13 PagesIt is said that humanistic psychology was developed upon the limitations of behaviourism. The humanistic approach is often referred to as the â€Å"third force† in psychology coming after psychoanalysis and behaviourism; it is an alternative approach to psychology (Maslow, 1968). It offered a more wholesome approach to psychology at the time in comparison to behaviourism and psychoanalysis. This essay will compare and contrast behaviourism and humanistic psychology; it will focus on their contributionsRead MoreOutline the Primary Skills Used in Counselling Relationships2629 Words   |  11 Pagesinvolved within developing and maintaining a therapeutic relationship between a client and the therapist or counsellor. The onus will be on Hu manistic counselling but many of these skills are central to all counselling types. Humanistic counselling is a process whereby the eventual goal is to facilitate the client in developing a personal understanding of self, and form a realisation of their own psychological needs and desires. It is, in essence, a route to empowerment for the client. Carl Rogers