After four decades of prosperity, Japan was hit by an economic b0mb in 1991. Worse, no foreigner could be held responsible for it; none except Japan

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Hitachi, the then largest producer of electrical equipments and computer chips announced a loss of 100 billion yen and job cuts of 4,000 during FY1998, its firsts after World War II! There were many others too joining it over the cliff. Toshiba, the country’s second largest electronics group being one as Yoshihiko Wakumoto, the-then Senior VP, Toshiba Corp. confessed, “In 1991, one market after another turned bad. Our pre-tax profits for FY1991 may be down a whopping 42%...” That year, Toshiba announced its first loss since 1950, blaming plummeting prices of semiconductor chips and computer accessories. The news also caused semiconductor-related stocks to fall further on the Nikkei. Another victim which came crashing was Matsushita Electric which also announced losses for the first time in decades. Not to be forgotten, blue chips like Sony, Fujitsu and NEC also experienced falls of over 40% in operating profits during 1991. The worst hit were Japan’s security houses, which were facing the brunt of a falling stock market. Of the few that survived the crash, one Nomura Securities, which was once the country’s most financial venture announced a 80% fall in annual profits. One of the biggest impacts however was on Toa, Japan’s second-largest electric furnace steelmaker which announced its winding-up post debt accumulation of 250 billion yen!

In short, no sector was left unpunished. The domestic auto average sales fell below 5 million in the years that followed the recession. Nissan on an average lost 4.2% in monthly sales and as a result cut jobs and reduced working hours. Sony too lost a shameful $156 million during 1991, its first ever! This also forced the company to reduce its capital spending by $2.15 billion and R&D spending by $1.8 billion. As Kenichi Ohmae, MD, McKinsey & Co. Japan asserted, “This is the first time we have experienced an asset-based recession. Nobody knows how deep it is,” indeed, Japan was hit by a shock wave that caused years of havoc.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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JOHN CHAMBERS - Hi-tech vision

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JOHN CHAMBERS
Hi-tech vision

As the global leader in networking for the Internet, Cisco’s meteoric rise can be attributed to a lot of factors. But one, which simply can’t be ignored, is the highly aggressive streak in John Chamber’s (Chairman and CEO, Cisco) personality. These words gain more credence as one looks at Cisco’s growing presence and its huge plans for India (which is part of its APAC Theater, which contributes to 11% of Cisco’s global revenues)in the years to come.

The proactive bent with which he has devised India strategy, is simply astounding. Moving to Bangalore, with a Global Development Center, the largest outside US and housing 20% of Cisco’s top brains is just a part of his big plans which are already taking shape; all to gather a strong foothold in the fastest growing market for technology products across the globe. He aims at two-fold increase in Cisco’s revenues from India, to $2 billion (almost 5% of the total global revenue) by 2010, from an impressive $1 billion figure (2%) clocked in FY 2007. Although, networking solutions still continue to lead the way for Cisco globally, it’s more than just routers and switches in India for John. He plans to enhance Cisco’s focus on voice, mobility, data centers, security and unified communication technologies where the real integration seems to be happening. Not to forget Cisco’s growing strategic investments, in various companies which include potential sectors like gaming and healthcare, through its venture capital arm in India.

John sees India as intrinsic to Cisco’s growth and not merely as a low-cost destination. Of $1.1 billion which Chamber pledged for India just two years back, $750 million alone would be invested in the development center at Bangalore, a place from where he plans to cater to the demands of emerging markets in Asia, Middle-East, Africa and Latin America and developed markets like US and Europe. Moreover, he has restructured his India strategy to cater to regional geographies and business clusters. Clearly, it’s India from where this maverick chief executive of Cisco plans to drive Cisco’s transformation in a globalised world this century.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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SUPRIYA SALE - The ‘pow(A)er’ girl

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SUPRIYA SALE
The ‘pow(A)er’ girl

This century may belong to many a stalwart, but surely, this lady too will make an impact in shaping India’s destiny. But how is what you may question. Well, Supriya Sale, daughter of National Congress Party (NCP) chief Sharad Pawar is playing her part in actively shaping India’s political and development story.

Supriya immersed herself into the pool of politics nearly six years back. And it’s different here, as for her, politics is not just a means of earning bread but a platform from where she has improved the lives of millions. She has been active in bringing about social changes (like working for women empowerment, self-help groups, disabled rights & working for tribal rights) and improving infrastructure in the areas of education & health. She is also an active member of a school in Talasari (Thane district) in Maharashtra, which she operates under the aegis of Sarva Shikshan Abhiyan. Dressed in a simple salwar kameez with a traditional mangal sutra, this Rajya Sabha member has always been upbeat about improving the living of the destitutes in her constituency. In just six years of her political career, she has done much more than her counterparts could ever imagine. Worthy of mention is the fact that despite living outside India for several years, she has understood issues facing the Indian underprivileged. Today, she has built her own identity and rarely (rather never) uses her father’s name for strengthening her presence in the political arena. Even if she continues her efforts at same level for the next couple of decades, many underprivileged millions will surely find India a better place to live in. With time, what can be expected from Supriya is that she will do good for the Indian mass, thereby making this century a happy one for all in the sub-continent. She hardly strives for publicity which is another rare characteristic of this lady-commander who is bound to make a mark in India’s political history. ‘Actions speak louder than words’, and she understands that really well!

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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