Companies that have survived 100 years in India

Two World Wars, the Great Depression, India's independence struggle, the Hindu rate of growth, the licence-permit raj, controls on foreign exchange and expansion, and the reforms of the 1990s: a handful of Indian companies have seen it all, and adapted along the way to do well. India has around three dozen century-old companies that are listed and still actively traded. Of these we have selected a dozen that have done especially well at responding to change. "Response to change is the first condition for survival in business," says Dwijendra Tripathi, a former IIM professor who authored The Oxford History of Indian Business. A hundred years is a long period. Dive into the exciting journey of these intrepid survivors.

1788: Breen & Co founded; to become Jessop in 1820

1838: The Times of India launched

1898: Calcutta becomes first city in India to get electricity

1902: Shalimar Paints sets up first paint factory in SE Asia

1902: Tatas open first hotel, Taj Mahal Palace

1910: Advent of electricity helps Britannia biscuits mechanise operations

1911: Shift of India's capital to Delhi announced; ITC gets stalls to advertise at Durbar

1919: Birlas defy Yule and other Scots to get into jute manufacture, WWI fuels boom

1926: Kirloskar makes first diesel engine in India

1929: TVS bags General Motors' dealership

1931: CESC builds tunnel under river Hoogly

1940: For the first time, The Times of India publishes news items

1945: Britannia sales surge, fuelled by contract to supply biscuits to Allied troops

1951: R.D. Birla acquires control of Century Textiles

1953: Bengal Chamber of Commerce completes a 100 years

1958: Godrej & Boyce makes the fi rst Indian refrigerator, in collaboration with GE

1969: Managing Agency system abolished

1975: ITC makes fi rst diversification, into hotels

1988: Jessop celebrates 200 years of existence

1998: Burman family hands over Dabur management to professionals

2007: Tata Steel acquires Corus

Management Tip of The Day by HBR

Getting People to Decide Already:

Indecisiveness plagues many companies. Often, both leaders and employees struggle to make or follow through on decisions. The result? Chronic underperformance. You can conquer this and infuse decisiveness throughout your organization by doing these three things:

• Engage in decisive dialogue. During each interaction with employees, model honest, open, and decisive dialogue. Make sure every meeting ends with a clear understanding of decisions and next steps.
• Turn dialogue into action. Indecision is often the result of confusion. Clarify accountability for reaching and executing decisions.
• Use follow-through and feedback to sustain action. Once you've set an expectation for decisiveness, you need to follow through. Give people honest feedback and discourage indecisive behaviors.
  
  Know Your Unwritten Plan

  When preparing for the future, you need two plans—one you write down, and one that's unwritten, fluid, and evolving. This blueprint exists in your mind as a living, changing understanding of where you're going, why you're going there, and how you're going to get there—all based on your current understanding of how the future will unfold. While your written plan includes specific objectives, action steps, and clear assumptions, the unwritten one consists of gut feel, general direction, and broad priorities. Over time, as you gather information and test ideas, you'll move many of these elements from hazy and unspoken to focused and written.

Commercial Terms

Bifurcation

The splitting of something into two separate pieces. Bifurcation occurs when a company divides into two separate divisions to create two new companies and issue two new shares. Existing shareholders before the split are given shares of the new company though a corporate re-organization.

Byproduct

Output other than the principal product(s) of an industrial process, such as sawdust or woodchips generated in processing lumber. Unlike joint-products, byproducts have low value in comparison with the principal product(s) and may be discarded or sold either in their original state, or after further processing.

Underwater

A call option whose strike price is higher than the market price of the underlying security, or a put option whose strike price is lower than the market price of the underlying security. Thus, there is no incentive to exercise the option today. However, the option still has "time value", value based on the fact that the prices of the underlier can change. This "time value" diminishes as the option approaches maturity.

Dim Sum Bond

A bond denominated in Chinese yuan and issued in Hong Kong. Dim sum bonds are attractive to foreign investors who desire exposure to yuan-denominated assets, but are restricted by China's capital controls from investing in domestic Chinese debt. The issuers of dim sum bonds are largely entities based in China or Hong Kong, and occasionally foreign companies. The term is derived from the Chinese cuisine that involves serving a variety of small delicacies and is especially popular in Hong Kong.

Adjusted Basis Value

Original cost or base price of a fixed asset from which depreciation is deducted, and to which capital expenditure is added. It is a taxpayer's equivalent of book value, and is used to arrive at capital gain or capital loss (resulting from the sale of an asset) for computing applicable tax. Also called adjustable basis value.

The Heart of a Teacher

The child arrives like a mystery box...
with puzzle pieces inside
some of the pieces are broken or missing...
and others just seem to hide

But the HEART of a teacher can sort them out...
and help the child to see
the potential for greatness he has within...
a picture of what he can be

Her goal isn't just to teach knowledge...
by filling the box with more parts
it's putting the pieces together...
and creating a work of art

The process is painfully slow at times...
some need more help than others
each child is a work in progress...
with assorted shapes and colors

First she creates a classroom...
where the child can feel safe in school
where he never feels threatened or afraid to try...
and kindness is always the rule

She knows that a child
can achieve much more
when he feels secure inside
when he's valued and loved...
and believes in himself
...and he has a sense of pride

She models and teaches good character...
and respect for one another
how to focus on strengths...not weaknesses
and how to encourage each other

She gives the child the freedom he needs...
to make choices on his own
so he learns to become more responsible...
and is able to stand alone

He's taught to be strong and think for himself...
as his soul and spirit heal
and the puzzle that's taking shape inside...
has a much more positive feel

The child discovers the joy that comes...
from learning something new...
and his vision grows as he begins
to see all the things that he can do

A picture is formed as more pieces fit...
an image of the child within
with greater strength and confidence...
and a belief that he can win!

All because a hero was there...
in the HEART of a teacher who cared
enabling the child to become much more...
than he ever imagined...or dared

A teacher with a HEART for her children...
knows what teaching is all about
she may not have all the answers...
but on this...she has no doubt

When asked which subjects she loved to teach,
she answered this way and smiled...
"It's not the subjects that matter...
It's all about teaching the CHILD

by Paula Fox

The listening problem

A skilled graphologist can understand if an individual is open to new ideas or is someone who is adamant and likes to do things on his own.
Sometimes, even a skilled graphologist can go wrong. :)
I recently met a very self made man, someone who had defied all the customs possible and made life on his own. His handwriting pointed out that he was not a very good listener and didn't really accept advice as graciously as one should.
I told him that, and he said I was wrong. This was my 2nd or 3rd point but he said that he listens to everyone. There was no way I was wrong. I tried to give him examples so I could explain my point. He refused. I couldn't really argue with such a senior business man...but this was so wrong. He just didn't budge, he was proving my point and I tried to point it out, but he still didn't agree. He told me to move on.
I carried on with my points and soon he started developing his trust. We came to the main reason for his analysis and I gave him the reasons. I was telling him something about his wife and the point drifted to how businessmen have to act in a way to be accepted by society. He said he understood it and we discussed how people close to us can nag us and constantly give ideas to help us improve. He then came to the listening point again and told me that he too faces the same issue. He had 3 wellwishers who always told him the right way of doing things. Like when one of them told him that the business won't work and his wife would come on the road, he transferred one of his flats on his wife's name and made his wife secure with a fd deposit and made arrangements for his child in next 3 months. When his aunt told him about looking good and dressing well, he bought the best quality clothes and a really pricey car in few days.
I realized one thing, Human beings are the most complex complex beings possible. He did listen to people but only to stop them from talking. He has lost those well wishers now but is happy in his own world. I tried to point this out in a subtle way that he didn't listen to ideas because the idea made sense, but only to prove a point and hence it showed in his handwriting but I don't think he was ready for that yet.
About Sunayna Navani
The corporate world didn't hold my interest for long and a 9 to 5 didn't appeal me one bit, So, I converted my hobbies into my profession and started art with sunayna (www.artwithsunayna.wordpress.com)to teach and sell art from quilling and became a full time graphologist. I use mix of Graphology, some spiritual practices and healing and to help you understand yourself and the world around you better or get a good life partner or help corporates hire better.

Rogue Trader

A trader who acts independently of others - and, typically, recklessly - usually to the detriment of both the clients and the institution that employs him or her. Rogue traders typically trade in high risk investments which can create huge losses but also large gains.

Reinvent Your Professional Identity

A mid-career switch can be challenging, especially if you've become pigeonholed in your current role. But it's possible to recreate your work identity, as long as you don't get stuck at the introspection phase. Take action by doing these three things:

• Craft experiments. Take on freelance or pro bono assignments that allow you to try new roles while staying in your current job.
• Shift connections. To move in a new direction, you need a new network. Reach out to people who can give you a fresh perspective on what you're trying to achieve.
• Make sense of it all. Tell others the story of who you hope to become professionally. This will help clarify your intentions and keep you motivated. Plus, you might win the support of your listeners.

Avoid 3 Common Decision-Traps

Making decisions is your most critical job as a leader. The more high-stakes a decision is, the more likely you are to get stuck. Here's how to avoid three of the most common traps:

• Anchoring. Many people give disproportionate weight to the first information they receive. Be sure to pursue other lines of thinking, even if the first one seems right.
• Status quo. Change can be unsettling and it's easy to favor alternatives that keep things the same. Ask yourself if the status quo truly serves your objectives and downplay the urge to stay in your current state.
• Confirming evidence. If you find that new information continually validates your existing point of view, ask a respected colleague to argue against your perspective. Also try to avoid working with people who always agree with you.

Expiration Month/Time

Options have a defined life and option traders select the duration that matches their forecast. Most stock and cash settled index options expire on the third Friday of every month. The expiration months are categorized as, front month, back month and LEAPS. Options that expire in less than four weeks (five weeks in a five week cycle) are considered front month options. Options that have more than four weeks of life are considered back month options. Options that have six or more months of life are called LEAPS. The more time an option has, the greater the time premium. Intuitively, a stock option with a great amount of time has a higher probability of being profitable. A $45 stock has a greater probability of moving above $50 in a three month period of time than it does in a three-week period of time. Option traders that believe a stock is poised for a quick explosive move should trade front month options. They will be cheaper and the trader can buy more options. Time premium decay is a factor and the move must take place quickly in order for the trade to work out. Option sellers like to sell front month options because of accelerated time decay in the last few weeks of life. An option trader who believes the stock will continue a long-term trend might consider buying a back-month option. An investor looking for a leveraged stock position might consider buying a LEAP call instead of the stock.

Fraption

Also known as an interest rate guarantee, this type of option allows an investor to set up a forward rate agreement during an agreed amount of time that triggers in response to a pre-set strike price. Fraptions are used to protect investors from dramatic declines in interest rates.

Whitewash Resolution

A term used in Europe to refer to a specific portion of the corporation act (called the Companies Act in Europe). This portion of the act indicates that a specific resolution must be passed before a company being bought out can provide financial assistance to the company which is buying it out. This is to prevent companies from taking advantage of the companies they are buying out.

Accounting Information System (AIS)

A system, typically computer-based, used for storing, collecting, and analyzing a company's financial and accounting data. Accounting information systems are generally used by executives to make decisions, develop company strategies, and generate reports for shareholders, internal personnel, and regulatory agencies. Accounting information systems also streamline accounting cycles and reduce the incidence of accounting errors.

Bank Deposits

Money placed into a banking institution for safekeeping. Bank deposits are made to deposit accounts at a banking institution, such as savings accounts, checking accounts and money market accounts. The account holder has the right to withdraw any deposited funds, as set forth in the terms and conditions of the account. The "deposit" itself is a liability owed by the bank to the depositor (the person or entity that made the deposit), and refers to this liability rather than to the actual funds that are deposited.

Quick Response

Just in time inventory partnership strategy between suppliers and retailers of general merchandise. It is aimed mainly at reducing order response time, and achieving greater accuracy in shipping the correct goods in correct quantities, by employing computerized equipment such as barcodes and EDI to speed up flow of information. Its other objectives include reduction in operating expenses, out-of-stock situations, and forced mark-downs (discounts).