TRUST

TRUST
JAGADISH

trust : it is something which binds people together without arousing resentment while working with each other


in today's 21st century can we ever find trust among people. This trust in people was founded way back in 1995 under the heading called as corporate governance. then the discussion starts as to why it corporate governance could not be utilised by government bodies properly. why did it went or still gone into the backdrop without any notice ?

In the 4c concept i jagadish prasad tried to show that trust generates lot of revenue for both government bodies and companies. still jagadish believes that trust has still only germinated , it hasn't come into with any full swing of a bat. it still works in bits and pieces. according to jagadish trust can only be developed by meeting commitments on regular basis , the chance being given to opposition based upon the number of trusts an individual wants to give to other party.

this giving up chances is again dependent upon how much the party believes in trust for example if the individual believes in 50% of time in trust , he gives 50% commitment to his opposition.to whom he wants to assign the task .

how much should a person trust a person in 21st century. again it is left to individual of how much trust he has on himself. it is very interesting to note that if a person trusts himself and his commitment towards the task he has undertaken is to his full satisfaction automatically his trust on others also increases because of his belief and commitment he expects from others as he is also committed and expects the same commitment from others as he individually has shown on others.

why do people not show the same commitment which people expects?
people by nature are always want to show that they are busy in their schedule., they are not committed towards work as others are. they want to complete the task as quickly as possible. people have different taste buds, some want to watch movies whenever they get time others in their own interest pursuits. based upon this psychology if we assign a task which the person is least interested in automatically his commitment either trust or work gets depleted.

if you have observed how job interview vacancy is given. it is to be noted that they specify that we want marketing executives who are self motivated and who has commitments high enough to get work done without any support. he should have to develop contacts by himself and generate revenue for the company

what we can gauge from here is that in today’s scenario trust is getting depleted day by day in the reverse way. companies are giving scope to people to develop their passions. job enlargement is one way of knowing what employees can achieve by working for their respective companies.

trust if has to truly shine can only be shined if people are ethical . and how to judge ethics of people if by showing regularly the commitment levels by people on a consistent basis. if people are ethical companies can prosper exceptionally well which in return helps the society develop good citizens, ethical citizens and ethical society for the new generation to follow on good path set by elders and present middle aged generation for the new generation to follow.

why did Gandhi says that truth , trust in others is difficult to follow. it was seen in Hindi film lage raho munna bhai. Gandhi said " my path is very difficult to travel " almost something like this . why did Gandhi even whole society feels that truth is difficult to follow. why?

while speaking truth and having trust should be a normal game . one only has to do is to speak whatever activities he has done in a truthful manner. my mother in my childhood used to say tell white lies if it benefits others. i always used to debate that even white lies is a lie. why to speak white lie? if one questions that you were lying people say it was a white lie. how come Gandhi's truth is difficult to follow i haven't still understood. people don't want to commit themselves. in the olden generation of Indian mythology people of war clan used to commit and used to kill themselves if they hadn't shown commitment towards their words spoken. if spoken they have to be followed word to word

amazingly this path was abandoned because jagadish feels that after British east India company came to India. east India company took advantage of this i wouldn't say flaw but Indian realized it later . east India company must have felt happy that Indians were stupid in killing themselves for simple reason of showing commitment towards words spoken with commitment. later on Indians became smart and stopped and started changing their commitments regularly. the biggest advantage which India gained because of east India company was its giving away language English to Indians without their knowledge thus helping small part of the country independently making them united as one single nation called India bharat.

what happens if commitments are honoured by citizens of respective countries and companies

1 confidence level among people increases
2 people develop faith . quotation says faith moves mountains
3 commitment towards work increases
4 knowledge can be shared between nations very quickly with faith

trust can also be developed through collaboration/coordination between government bodies and companies. why to develop coordination.? it is to meet unforeseen contingencies in respective industries by their respective companies so that the industry doesn't collapse just like that.
i call it spiritual marketing concept.

spiritual marketing concept : under this concept companies help each other in developing strategies for each other and try to cooperate in developing competition and cooperation in their respective industries

the basis of foundation of this concept would be on 3 layers
1 trust
2 perfect relationship management
3 participative marketing management


perfect relationship management : it can be defined as something when 2 or more parties come together and think for on behalf of their companies and come out with better solutions either through collaboration or through cooperation

collaboration : this is defined as 2 or more companies considered competitors in the market, come together to solve industry problems

perfect relationship management :
a relationship where companies 2 or more join hands together for a common cause


participative marketing concept : it is a conceptual tool to determine the complementors, competitors for the company and help company to provide solutions to the existing problems in the industry it represents

The following is the article written with gusto feeling and ended it with participation of various companies.

it is my sincere request to anyone who has seen this article think for themselves whether trust, confidence. truth, commitment can be incorporated in the companies and government bodies or not.

END

HOW TO FIND COMPLEMENTORS IN MANAGEMENT

complementors for respective companies

complementor : it is defined as two or more companies coming together with the idea of adding value addition to each other without each other support the companies cannot survive

a complementor for a company need not be from the same industry, it can be from other industries also

example : petroleum , paper industries are common to all industries


IT industry and BPO

complementor is human capital

human capital is complementor to all industries

it is so because IT company generates revenue for itself through projects, but these projects stay with the company for 5 to 10 years contract , after which contract expires and again fresh contract is signed. this signed contract cannot be done again with the same company hence companies cannot be complementors

hence these project are done by team leaders in IT and their respective team members, hence it team leader fails in the project done by his team members and himself revenue is at loss to the company and hence human capital is the hallmark of complementors

without team leader help company cannot generate revenue and without company IT team leader cannot earn salary, retrenchment problem is the highlight of IT and BPO depending upon human capital.

now question arises except the team leaders are others also complementors to industries or not . this can be proved with the help of intellectual capitalism of individuals

suppose a team leader has 4 to 5 members, out of them 1 is highly intellectual than team leader he can be an asset to the company and also to other industries if he comes under knowledge regarding other fields specially strategy wing of companies.

example of hr terminology is body shopping which takes place within an industry and also outside industry but rarely

under 4c, knowledge capitalism can be shared between companies within an industry or outside industry under strategy wing, without body shopping by allowing respective knowledge based personality to work simultaneously under different companies within industry

sharing of knowledge between companies

jagadish terminology is commandoes

if we take into consideration in BPO sector

complementors by themselves are voice trainers it is so because without voice trainers employers cannot decide which are beneficial employees or not to their companies.hence voice trainers train their employees and generate revenue for the company

but it has to be taken into notice that their are voice trainers outside the jurisdiction of BPO companies which can be recruited under 4c concept

Auto industry

complementor is

mechanics
distributors (saboo motors)
insurance (complementor to all industries)
companies handling spare parts
petroleum industry
paper industry (complementor to all industries)

mechanics are useful as a complementor to a company because most of the decisions customers or consumers take is in discussion with motor mechanics . these mechanics as they work with company products know the loopholes of the company products and consumers believe in them

example : castrol oil ad

distributors like saboo motors handle cars etc manufactured by companies. these distributors know the track record of consumers who handle the purchases. with the help of distributors auto industry can manufacture those products which are fast saleable to consumers who purchase these auto industry

insurance as per motor act is mandatory hence insurance by default is a complementor to auto industry

companies handling spare parts are also complementary because if spare parts are not available companies either have to manufacture by themselves or have to depend on other companies who manufacture their spare part related to cars, scooters, motorcycles

petroleum industry is by default complementary to anything without which as of now auto industry doesn't run

paper industry is complementor to all industries because without paper industry circulation of information to customers cannot be highlighted

Media and Entertainment

complementor is cable network companies

for newspapers , magazines and internet (market space) it is contracts

contracts are complementary for any company

now to do analysis why cable network companies and not others

what does media look at

gossips, that is where revenue generation is done because TRP comes into play

the more the TRP the better the revenue, the more the revenue more companies invest

but TRP cannot be complementor because TRP changes with each change in news, hence time slots also change and complementor if it is company at that point of time would leave because of poor TRP rating hence TRP is discarded

complementor is defined as something where both the companies are at same level field without getting into losses when matched evenly,

another thing if time slots are checked up instead of TRP for a company in mass media is TV radio then information at that point of time is changing, news change hence loss to the company if complementor company invest at that point of time company would leave because of bad information, hence time slots also cannot be decided as complementor because revenue at that time slot has to change with each change in information

complementor is said as someone where through his existence revenue has to increase and not decrease

so if companies are considered as complementors they also change with change in time slot information or TRP change loss to the media company hence companies also cannot be termed as complementors for the media

hence if complementor is said to be main company cable operators like C channel,
Maa channel etc they become complementary because if they exist and promote channel companies, revenue is generated and TRP is increased which benefits both cable operators to promote channels and channel companies like CNBC etc can get huge TRPs.

so channel companies should promote their companies by partnership with cable operator companies to generate revenue for themselves.

hence these main cable operator companies become the automatic choice for mass media in TV as complementors.

what about market space (internet) operated by mass media channels as CNBC and etc
in this respect the complementor for market space is contracts with companies

newspapers companies complementors are company advertising agencies and again they are based on contract

hence contract is complementary to newspapers , magazines because without which no company comes into play , how long should these contracts be their between two companies, i havent said that companies which are into ads in newspapers are complementors it is the contract signed by companies between the two or more is a complementor

to prove that contract is the complementor it can be proved by saying that contracts exist to generate revenue and if contracts expire the revenue is lost between two or more companies and not with coming or going of companies for ad space in market space or newspapers or magazines.

Real Estate

complementor is websites of real estate companies

websites is complementor to all industries

if we take real estates real estates purchase land either from government or from farmers
but this purchase of land is restricted to overall growth annually is 2% maximum as stated in free lunch textbook of economics

so farmers government cannot be complementors to the real estate because they generate revenue marginally

what is the actual real money generated by real estate
it is construction activity which 98% money generation

converting of single storeyed to double , tripple storeys

hence if this promotional activity is done through websites which are made exclusively by the real estates business can easily be generated

but this generation of revenue can happen through word of mouth where websites like sulekha etc can be promoted

websites are the craze of 21st century, hence if websites are created, knowledge about real estates increases and also through word of mouth of real estate websites hence without websites company real estate revenue cannot be generated and without customers knowing how many real estates are their in india they cannot purchase hence website promotion if it is done revenue can be generated by real estates.

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10 Deadly Sins

10 DEADLY SINS

PHILIP KOTLER

ANALYSED BY JAGADISH


1) The company is not sufficiently market focused and customer driven

what happens if a company is not sufficiently market focused

a) loses track of customer focus

b) excess cash lost by companies

c) complementor company loses revenue of the company it is related to—negatively

d) Competitor takes away market revenue away from company

solution

a) management information system ( ERP in retail sector)

b) weekly magazine updation in the press report (All india press association)

c) B2B monthly circulation about company activities with its customers

d) fortnight report from both complementor and company research handling

e) company kiosk to be set up at eating places and shopping places

II) the company is not properly customer driven :

what happens if company is not properly customer driven

a) customer switching cost happens

b) life time value of customers to company is lost

c) complementor loses money and runs out of market affecting the company

solution

a) cash bonus awards for getting customer database

b) tie up with job search engine companies
c) market space report with the help of surfers

d) MIS with organized retailers

2) The company does not fully understand its target customers

if company does not fully understand its target customers what happens

a) loss of monthly revenue even advertising on products sold to the geographic locations

b) loss to complementor products and brand loss to both company and complementor

c) loss of goodwill to both complementor and company

solution

a) enroll opinion leaders into the wing of company employee enrollment

selecting opinion leaders can be done by looking at the database answers generated by the press reports to editors

b) introduction of multi level marketing selling products from customer to customer

c) place an employee of the company at organised retail outlets to do survey as to which products that sell and which do not pose a small query of yes and no option to be filled up by the consumers

d) conduct kiosk at different localities to find out the pulse where kiosk products are being purchased in wholesome

3) The company needs to better define and monitor its competitors

if company monitors its competitors it has advantage of

a) latest trends followed by competitors

b) know consumer behavior through introduction of products and brands introduced by competitors

c) can share/know intellectual capitalism






d) reduce money expenditure

solution

how to monitor competitors

a) management meets (sharing information by company)

b) training and development conducted industry wise

c) segmentation, targeting, positioning of company products SWOT information through retail segment

4) The company has not properly managed its relationships with its stakeholders

what happens if relationship with stakeholders creates friction

a) lose in market share and share price for the company

b) loses due to switching cost of brand/product

c) winding up of company

solution :

a) monthly reports about company progress

b) CSOP (customer stock option plan)

c) yearly surprise element in form of books/money to be given to say you are special (think)

5) The company is not good at finding new opportunities

what happens if company is not able to find new opportunities

a) loses to competitors (switching cost)

b) employees become stagnant in information

c) loses goodwill

solution

how to find new opportunities

a) black commandoes, industry wise through knowledge sharing

b) stakeholders feed back

c) management books (knowledge)

6) The companies marketing plans and planning process are deficient

what happens if marketing plans and planning process is in deficiency

a) lack of correct strategy by company (wrong input wrong output)

b) ERP information cannot give right data nor company can design right ERP industry wise

c) no right segmentation, targeting , positioning of product/brand giving loses to company

solution :

how to make planning foolproof

planning process can never be foolproof because defects are common

the more you do planning, the more experience you would gain which would remove defects

in this changing world scenario information keeps on changing

one has to have

a) updated knowledge and keep revising

b) huge output of secondary data on strategy being used on brands

c) psychographic, geographic trends to be followed through research every 6 months

6 months because, brand in today's generation life period is 6 months

how did this 6 months came as life period of brand

one month to see whether segmentation, targeting positioning of brand is rightly placed or not

second month to see the competition and to fight it out

third month to see whether advertising is hitting the consumers mind
fourth month to get feedback

fifth month to check out whether swot is applicable or not

sixth month to see the fall of brand or, is it earned through cash cow

7) The companies product and service policies need tightening

product/service policies : these are the policies designed by company to earn revenue for the company to which product/service represents to.

what happens if companies product and service policy is not tightened

a) information loss to competitors

b) frequent changes being made to products without any single policy

c) not able to handle pressure because of lack of proper policies- no clear cut rules
solution :

how to see that proper policies are being followed without changing them

a) regular meet of CIO (customer information officers )every quarterly to see progress made in information regarding companies/industries

b) frequent video conferencing with stakeholders to update them on current issues faced by company and asking for advice else direction

c) market space (internet) survey at inbox to stakeholders/B2B customers periodically to see, they are satisfied or not with company policies

8) The companies brand building and communication channels are weak

what happens if brand building and communication channels are weak

a) product information loss to customer (B2B,B2C,C2C)

b) sales decline

c) no proper segmentation, targeting, positioning
solution

how to strengthen communication channels

a) spread word of mouth about products through employees of companies
b) promoting through education channels/websites in television, internet in today's century (knowledge capitalism)

c) writing articles in Internet about products

d) promotion through combos in newspapers (information about company brochures)

9) The company is not well organized to carry on effective and efficient marketing

what happens if company is not effective in marketing

a) lack of STP (segmentation, targeting, positioning ) of both products/brands

b) no proper marketing channels to sell effectively brands

c) costly advertising campaign

solution

how to do effective marketing for brands

a) through SWOT of both geographic and psychographic

b) selling of ecological based products / brands in 21st century to be effective

c) supply chain management to be monitored through proper MIS (Management Information System)

10) The company has not made maximum use of technology

what happens if technology is not used to its maximum

if technology is not maximum usage, nothing happens because their is no upper limit or lower limit to technology , it grows, grows and grows

example: microsoft came with windows it was called maximum limit , again microsoft came with windows xp, people said is their any limit., they are still venturing out for advancement in technology

sometimes technology advancement can eat away revenue through advanced automation without companies knowledge

how to know when to stop advancement in technology

personal desire of human being is the answer, otherwise it is self destructive in the long run

END