Tag: Companies

  • Companies Owned by Modi Enterprise – Lalit Modi companies

    Just like Westerners have the NBA, we have the IPL. Every year, we gather around the television with our family to watch who will take home the IPL trophy. All the credit goes to Lalit Modi, one of the world’s top businessmen, for introducing IPL, which has enthralled millions of people since 2007. Lalit Modi belongs to one of the leading business families in India. He is the grandson of Gujarmal Modi, who founded the Modi Enterprise, an Indian Business conglomerate. Lalit Modi studied electrical engineering and business administration at two prestigious universities, Pace University and Duke University, but didn’t earn a degree from either.

    After returning to India, he joined his family firm and served as the president of International Tobacco Company Limited from 1987 to 1991. He then served as a Non-Executive & Non-Independent Director of Godfrey Phillips India from 1989 to 2010. Prior to Krishan Kumar’s death, Lalit Modi was assigned the responsibility of taking over the Modi Group in 2010.

    Companies Owned By Lalit Modi

    Godfrey Phillips India
    Shanghai Tang
    24SEVEN
    Pan Vilas
    Ego-Thai
    Indofil
    Modi Healthcare
    Beacon Travels
    Modicare
    Modi Entertainment Networks (MEN)
    Ego Italian
    Colorbar

    Brands Owned by Modi Enterprises

    Brands Owned by Modi Enterprises
    Brands Owned by Modi Enterprises

    Modi Enterprises is an Indian Business conglomerate based in New Delhi. It was founded by Gujarmal Modi in 1933. This business group is known to have an extremely diverse portfolio in industries like personal care, cigarette manufacturing, entertainment, food and beverages, and more. The following are the popular brands of Modi Enterprises:

    Godfrey Phillips India

    Founded In 1936
    Predecessor Abdulla & Company
    Headquarters Delhi, India (since 1967)

    Godfrey Phillips India , Produces Tobacco
    Godfrey Phillips India , Produces Tobacco 

    As of 2021, Godfrey Phillips India would be one of the world’s biggest tobacco producers, with a total income of 2784 crores INR in FY22. Godfrey Phillips created the company in 1844 in London, which was the first UK-based corporation to mass-produce cigarettes with extensive international ties. After the founder’s death in 1908, the firm was sold and renamed Godfrey Phillips, with two significant stakeholders: Philip Morris and K.K Modi Enterprise, becoming a flagship company of Modi Enterprise. Godfrey Phillips Ltd. of London struck an agreement with International Tobacco Co. to construct a plant in Northern India to produce on the business’s behalf as Godfrey Phillip India Ltd.


    ITC Success Story – Business Model, Revenue Model, and More
    ITC is one of the biggest and most successful Indian conglomerates. Here’s a look at its business model, revenue model, and more.


    Shanghai Tang

    Founded In 1994
    Founder David Tang
    Headquarters Hong Kong

    Shanghai Tang An International Clothing Brand
    Shanghai Tang An International Clothing Brand

    Shanghai Tang, an international clothing brand founded by David Tang, has become a global powerhouse that represents China’s cultural fashion. In 1998, Richemont bought a majority stake in the business. It has a connection with Modi Enterprise as Godrej Phillips India tied up with the brand as a master franchise in India by entering the retail sector in 2005.

    24SEVEN

    Founded In 2005
    Founder Modi Enterprise
    Headquarters New Delhi

    24SEVEN India's First Convenience Store
    24SEVEN India’s First Convenience Store

    Just like its innovative name for the brand, the company also comes with a unique feature of operating as an organized retail convenience store in New Delhi in the round-the-clock format i,e. 24×7. 24 SEVEN offers an international shopping experience to Indians, by selling a variety of products & services. 24 Seven is the first Indian premier convenience store with over 100 outlets across Delhi/ NCR and Chandigarh.


    The Business Model And Main Competitors Of Tesco
    Tesco is a British multinational grocery and general merchandise retailer. Read to find out how Tesco became successful because of its business model.


    Pan Vilas

    Founded In 2010
    Founder Modi Enterprise
    Headquarters New Delhi

    Indians have an affinity for pan masala, which is why Modi Enterprise created the premium brand Pan Vilas in 2010. The firm is a connoisseur’s treat, with a well-balanced combination of the best ingredients providing Pan Vilas with an unrivaled and enduring flavor. Pan Vilas has an unmatched and lasting flavor due to its carefully balanced blend and rich treasure of the best ingredients. Pan Vilas is made in Baramati, a cutting-edge factory that utilizes some of the world’s most modern food processing equipment.


    Akshay Kumar Vimal Ad – Fans Reaction, Apology and More
    The fans of Akshay Kumar have been outraged over the new Vimal ad starring Akshay Kumar. Let’s understand the complete controversy.


    Ego-Thai

    Founded In 2002
    Founder Modi Enterprise
    Headquarters New Delhi

    Ego-Thai Restaurant
    Ego-Thai Restaurant

    We all love Thai cuisine in particular, as it matches our cuisine very much. Modi Enterprise launched Ego-Thai in 2002 for a fine dining experience with an exclusive bar and lounge in New Delhi. The restaurant is managed by Thai chefs, with excellent interior design with Thai paintings & artifacts decorated.

    Indofil

    Founded In 23 Mar, 1962
    Founder Modi Enterprise
    Headquarters Mumbai

    Indofil For Crop Care Solutions
    Indofil For Crop Care Solutions

    Indofil, a division of Modi Enterprise, has successfully marketed Insecticides, Fungicides, Bactericides, Herbicides, Acaricides, Surfactants, and other Agro-chemical products. The firm has a well-equipped production infrastructure in R&D as well as a domestic and worldwide distribution network. Indofil emphasizes the notion of the Indian crop protection market by providing productive crop care solutions through cost-effective management.


    Top Chemical Companies in India | Leading Chemical Companies
    The chemical industry of India ranks 6th largest in world. Lets know some of the top chemical companies in India contributing in Indian economy.


    Modi Healthcare

    Founded In 2002
    Founder Modi Enterprise
    Headquarters New Delhi

    Modi Healthcare For Indian Healthcare Professionals Who Desire To Work Abroad
    Modi Healthcare For Indian Healthcare Professionals Who Desire To Work Abroad

    Modi Enterprises founded Modi Healthcare to create an ethical and credible gateway for Indian nurses and other healthcare professionals who desire to work abroad. Modi Healthcare has received several awards for its collaboration with renowned health centers in the United Kingdom and the United States in establishing world-class courses for the placement of Indian nurses. Furthermore, the organization specializes in providing educational and training components that incorporate soft skills such as communication, management, and assertiveness.

    Beacon Travels

    Founded In 1988
    Founder Modi Enterprise
    Headquarters New Delhi

    Beacon Travels For Travel Solutions
    Beacon Travels For Travel Solutions

    India is one of the best destinations as it highlights the rich Indian culture. K.K Moi Group company commenced Beacon Travels to bring high-quality travel solutions to the corporate sector in India.


    10 Ways To Earn Money While Travelling | Make Money While Travelling |
    Wanna travel the world and make money? We have listed some of the best options that you can consider while travelling.


    Modicare

    Founded In 1996
    Founder Modi Enterprise
    Headquarters New Delhi

    Modicare A Direct-Selling Company
    Modicare A Direct-Selling Company

    Modicare began in 1996 and is one of India’s leading direct-selling companies in offering services in the categories of Personal care, skin care, home care, laundry care, auto care, cosmetics treatment, and Health & wellness.

    Modi Entertainment Networks (MEN)

    Founded In 19 March 1997
    Founder Modi Enterprise
    Headquarters New Delhi

    Modi Entertainment Networks (MEN) For Community, Personal & Social Services
    Modi Entertainment Networks (MEN) For Community, Personal & Social Services

    MEN was incorporated on 19 March 1997, as a private unlisted company, that happened to be focusing on community, personal & social services. The company board members are Krishan Kumar and Samir Modi and network operations are withhold in 2010.


    Zee Media Success Story – India’s Largest Media Company
    Read the success story of Zee Media. How it became India’s leading entertainment and news network subsidiary of Essel group.


    Ego Italian

    Founded In 1995
    Founder Modi Enterprise
    Headquarters New Delhi

    Ego Italian An Italian Restaurant
    Ego Italian An Italian Restaurant

    Lalit Modi’s mother- Mrs. Bina Modi wanted to open an Italian restaurant and launched one in 1995, in Delhi. The place has a hygge ambiance with wooden furniture and interiors, decorated with greenery, graffiti, ship lights, and vintage paintings.

    Colorbar

    Founded In 2005
    Founder Modi Enterprise
    Headquarters New Delhi

    Colorbar A Cosmetic Brand
    Colorbar A Cosmetic Brand

    Colorbar is one of the leading cosmetic brands in India, which ranked 7th in ‘India’s Great Mid-size Workplaces 2021′. The company was established in 2005 and has gained rapid growth in the cosmetic industry through building more than 65 stores and 900 plus multi-brand outlets.

    The brand’s strength lies in its international formulations, premium packaging, and constant product innovations for its fast-growing and demanding target segment of consumers – the independent woman of today who is exposed to global fashion trends.


    Top 10 Leading Cosmetics Startups in India
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    Conclusion

    Modi Enterprise is a 1.5 billion USD net worth corporation that manages approximately 12 brands with a specialization in education, personal care, tea and drinks, tobacco manufacture, entertainment, retail goods, multi-level marketing, agro-chemicals, and restaurants and bars.

  • How to Build Best Company Culture – Things to Avoid

    When you begin an entrepreneurial journey or get a job in a startup, it feels like you have got a great opportunity to showcase your skill-sets and the methodology of work also shifts. This shift is due to the different cultures prevailing in different startups. Every organization whether it is big or small have a unique culture to provide diversification. The question that arises here is, what is startup culture and how does it affect the workmanship of employees.

    Numerous scholars and researchers have a different take on corporate culture or startup culture, as the term has a deeper meaning and have a very strong impact on the business. A bad startup culture might ruin the whole business and the foundation also gets degraded. To understand startup culture in brief, we can say that culture is a set of values, morals and beliefs on which an organisation works. The culture of an organisation is based on the leadership of an organisation which is designed by the leader.

    The startup culture depends upon the nature of the startup owner. A CEO has the full responsibility of the culture and he can mould it easily as per their desire. As a leader of an organization is a human and it’s pretty much possible that they might construct the wrong culture in an organization, which instead of boosting the business, lead to the path of destruction for it. So, it’s very vital to develop a perfect professional culture in an organization. Well if you are an emerging entrepreneur and want to avoid bad startup culture, then you’re at the right place, as today we will discuss some signs of bad startup culture and remedies to overcome them.

    Symptoms of Bad Startup Culture
    Characteristics of Good Culture
    How to Build a Great Company Culture

    Symptoms of Bad Startup Culture

    Before finding the cure for the bad startup culture, we need to find out its symptoms. So let’s begin:

    • The leader is the sailor in an organization, so he needs to set a great example for his superiors. If a leader doesn’t work properly and doesn’t delegate his duties to others, then this is the indication, that an organization is going to sink very soon.
    • The optimum example of bad startup culture is when you can’t work, as you desire and you have no creative freedom to explore more. This bondage of culture will affect the performance of the worker and the startup may fail, even before it began its jour.
    • ‘We are good’, ‘future is bright for us’, ‘We Will get profit soon, when you hear that kind of words from your boss, then it means you should start looking for a new job.
    • The fake media publicity and having numerous fake subscribers will never improve your business because it will give you a false picture of your business.
    • When there is any kind of dispute and rivalry seen in the coworkers of an organization, then that is a definition of bad startup culture and this will make the environment of the firm tense.
    • When higher authority keeps secrets from the employees and won’t disclose the true picture of an organization to them, which demotivates the employees and doesn’t see the business as their own.
    • The leader should motivate employees to work hard, but they should never be forced to work hard. Their feelings should be also taken into consideration and fair remuneration should be paid in lieu of extra work.
    • The business houses which forgets to cater to the needs of their customers have no chance to survive in the market. To make a good startup culture you need to satisfy your customers first.
    • Sometimes too much positive attitude can ruin your business. Be realistic and believe only in the facts.
    • If the values of the owner and employees don’t match, then this will create havoc in the office.
    • Fake news or gossip is the reason for bad startup culture and it should be avoided at any cost, as it negatively affects the image of startups and reputation is the only valuable asset of new startups.
    • When the owner is scared to take hard decisions, this is the beginning of bad startup culture.
    • The policies of an organization should not be rigid and the CEO must be capable to twist them, as per the requirement of time.
    • The imbalanced distribution of remuneration to the employees will cause partiality in the organization.
    • Drinking or smoking during work is highly unethical behaviour that is a symptom of bad culture.

    As, we are now familiar with the few indications of bad startup culture, that destroys the startup from the core. Now is the time to share a few remedies to cure this issue of depth.

    Characteristics of Good Culture

    • Strong leadership – The culture of an organization is the extension of its leader’s values. So the leader of a company needs to adopt good values so that they can be seen in the culture of an organization.
    • Creative freedom – The workers should be given the freedom to showcase their ideas freely and leaders must give them some freedom to work as they wish.
    • Mission – People have a shared sense of company mission. They “feel” it and it’s often tied to a problem they care about even if they’re not a primary user. They feel good about what they are doing as a company and are proud of the impact they’re creating.
    • Fast pace – This is the twenty-first century, so an organization should be running according to it and the work should be completed at a fast pace.

    So, after analyzing the symptoms of bad startup culture and evaluating the characteristics of a good culture, we come to the conclusion that leadership is the sole reason behind the culture. So leaders need to gather themselves and run their startup in good working culture.

    How to Build a Great Company Culture

    Good company culture is a practice every company aspires to have. Before we discuss how to make a good company culture let’s define what is company culture? Company culture is the working environment, policies and work ethics a company possess. It is very important to provide a healthy company culture to maintain and create a thriving business. If an employee likes the culture of his workplace, he is more likely to be in a better mood and work more efficiently.

    Below we have listed a few steps that you can follow to improve or make an amazing culture at your company.

    Decide Your Culture Type

    The first and foremost step is sitting down and deciding what your companies’ culture should be like. If you are a new company and are just starting out with a hand full of people, all of you can sit down and decide it according to your preferences. If you are a very big company with numerous employees, you can assign the job to one person who can ask for the popular opinion in your office and then you can decide upon it. No matter what culture you want for your company, make sure it is healthy and is making your employees happy.

    Transparency

    There should be transparency amongst all the people working at the company. Every person in the company should be treated with equal respect and should have access to each and every piece of information. The gap between the boss and the employee should be removed and you should start working as a team. Interaction between employee and the employer is very important, so holding sessions that provide a healthy interaction amongst the whole team is important

    Leisure

    As the old saying goes ‘all work and no play, makes Jack a dull boy’.  The same is the case with your employees. Even though we are adults but working for long hours without rest can hinder our productivity. Studies show that people were more productive when they have enough breaks between their work. Having entertainment rooms in your office or having a gaming room or outdoor activities in your office area can help your employees relax and also keep them healthy.

    Giving Space

    Giving each employee space for themselves and giving them a sense of responsibility helps in boosting the employee’s confidence and also since the work is completely their responsibility, they do it better. It is very important to create a healthy learning environment. An employee should be encouraged to learn if he makes any mistakes.

    Go Tripping

    Taking your employees on a tour of someplace occasionally can be a great way to relax them. If you do not want to take them, providing holiday incentives to the employees can also be done.

    Recognize Milestones

    In every meeting set milestones and goals for the company and reward the person that has worked extra hard in achieving it. Such an incentive from the company not only makes the employees happy but also inspires them to work harder. The reward can be small as well as big depending on the work.

    Hire employees that are suitable for your companies’ culture. If a person does not like social interactions and starts working in a work environment that promotes interactions amongst all employees, he will be more stressed than happy. Similarly, if a person who is outgoing and fun-loving is put in a very serious office environment he will get stressed. So it is important to know the employee’s point of view about your office culture before hiring them.

    Be Patient

    A company’s culture change is a very big step and will not be achieved in one or two days. It will sometimes require months and years to change. There might come some issues at first, but with time everything will fall into place as expected. All you need is to deal with the situation with patience and make corrections whenever anything goes wrong.

    Conclusion

    Almost all the young entrepreneurs like to create a cool company culture in their startups these days. However, most of them only get successful in making the infrastructure cool and not the environment. One needs to be aware of the ways to develop a cool culture, not just the infrastructure.

    FAQs

    What are the four types of corporate culture?

    The four types of corporate culture are clan culture, hierarchical culture, market culture and adhocracy culture.

    What is the ideal company culture?

    An ideal company culture keeps its focus on its employees and clients.

  • How much does Market Research cost?

    Big companies deal with many sectors and have the constant need to improve and try new things to keep their consumer engaged. Not only large tech companies but developing ones also spend on market research. They spent on research because of two reasons:

    • Businesses have to be innovation-focused. Working in a constantly changing marketplace, they use research to test new technologies and try to satisfy the customers.
    • Companies have resources, which simply is the reason to research more.
    Steps of Market Research

    All organizations would benefit from having a solid market research practice, but startups don’t have the money or staffing resources to dedicate to intense market research, and companies with mature products often don’t feel a market pressure to spend money on changing/staying ahead of the curve.

    How much do companies spend on Market Research?
    Why is Market Research important?

    Conclusion
    FAQs

    How much do companies spend on Market Research?

    It depends on multiple things. Some of the insights are Qualitative Research and Quantitative Research.

    The total amount spent by companies on market research in 2015 was $68 billion worldwide. The biggest market research spenders by industry are as follows.

    • Consumer Non-Durables, 23% of the total
    • Media and Entertainment, 15% of the total
    • Pharmaceutical, 13% of the total

    Others like Government or Non-Profit Organizations (8%), Financial Services/Bank (7%), Telecoms and Wholesale/Retail (5%), Consumer Durables (4%), Research Institutes (3%), Automotive (6%), Advertising Agencies (2%), Utilities (1%), Other (8%).

    Marketing-driven companies spend much more than product-driven companies. Companies like Unilever, Coca Cola, PepsiCo, etc. spend a few hundred million dollars per year on Research. These companies have a massive number of consumer brands, and the product does not change or update very often. Marketing and sales are key aspects of success, and insights can make a large difference in the business.

    Similarly, success for media and advertising companies depends on reaching a particular number of consumers, so insights into their habits can make a huge difference for their effectiveness (e.g. message, channels used, time spent). However, even if you look at the biggest spenders, it is still significantly less than 1% of their annual spending.


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    Most big companies (1000 employees+) drive 80%+ of the spending.

    Market research tends to be expensive if one does it with agencies, and low-cost / DIY alternatives (e.g. Google Surveys) tend to require trained people that few smaller companies have, otherwise they lack the quality to inform decision-making.

    Top Companies Spending on Research and Development
    Amazon $42.74 billion
    Alphabet $27.57 billion
    Huawei $22.04 billion
    Volkswagen $13.8 billion
    Samsung $18.75 billion
    Intel co $13.56 billion
    Microsoft $19.3 billion
    Apple $20.161 billion
    Roche $10.8 billion
    Johnson & Johnson $12.2 billion
    Toyota $10 billion
    Ford $7.1 billion
    Facebook $18.45 billion
    Merck $10 billion
    Novartis $8.5 billion
    BMW $8 billion
    General Motors $7.3 billion
    Honda $7.1 billion

    Why is Market Research important?

    R&D is the necessary and initial phase of any process leading to technological innovation or market expansion. Research embodies a company’s long-term vision and its strategy when innovation operates more in a short-term economic model of the company.

    Spending growth of Organization on Research
    Spending growth of Organization on Research

    Research and development consist of investing money/resources to find innovative products, services, or processes that will enable the company to earn some goodwill and new technologies.

    The experience and the knowledge accumulated by the companies due to R&D activities enhance innovation for any given company. At the end of the day, market research investment will allow the companies to gain in technology and future capabilities that would be eventually convertible into new products, processes, and services. Some of the gains of Research and Development are –

    Finance

    If the companies are conducting their R&D activities to reduce manufacturing costs and improve the system, it provides them with the solutions with less costly processes to manufacture the product and therefore provide more competing prices to the customers or increase their profit margin.

    When the companies are looking to raise funds, R&D activities provide good opportunities to prove the company’s vision to their potential investors. By showing the investors that the company has the right structure to innovate constantly will make them understand that the company has everything it needs to meet sustainable growth. Investors are looking to invest in companies having a proactive approach of finance to manage their business, the constant investment in R&D will prove them the company has quite potential.

    Patents

    Through Research and Development activities, your company can acquire patents for new products you have previously developed. It can help gain a set of sustainable competitive advantages and position the company in an extremely comfortable situation within your market and therefore benefit from long-term profits.

    Recruitment

    Talented and skilled ones are also attracted via recruitment to innovative companies doing exciting things and providing exciting opportunities. With R&D activities, the companies will attract several qualified candidates to join.

    Conclusion

    Research and development have no guarantee of profits, companies spend a lot of time and sacks of money that sometimes turns into nothing. R&D is vital for many companies as they use it to expand their market share and increase sales. The top Research and Development spenders on this list have made a difference on the market, providing new technologies and products that have changed lives and the way the market worked.


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    FAQs

    What is market research in business?

    Market research is an effective tool to assist your business planning. It is about collecting information that provides an insight into your customers’ thinking, buying patterns, and location.

    Why is market research important for a business?

    It is important because it can identify how customers and potential customers might view your business and identify gaps in customer expectations. This is powerful information to have when completing your marketing strategy.

    How much do companies spend on innovation?

    On average, firms tend to spend 1-2% of turnover on various innovation-related activities, but this share exceeds 5% for large firms in some countries. R&D usually accounts for around one-half to two-thirds of all innovation expenditure, but the share varies widely by sector and firm size.

    How much does Market Research cost?

    The price for quantitative research can range widely, from $15000 to over $100,000, with most studies in the $30000-$55000 range.

    What percent do companies spend on R&D?

    Mostly, companies spend between 5-20 % of their annual revenue.

    How much does the average company spend on research and development?

    A company on average spends merely 2%-3% of their revenue on research and development.

    Why R&D is important?

    It is important in many senses like analyzing your target audience, competitors, recent trends, the reaction of consumers towards changing technology, etc. It minimizes the investment risk.

    How is the R&D ratio calculated?

    The price-to-research ratio is calculated by dividing a company’s market value by its last 12 months of expenditures on research and development.

  • [Infographic] Case Study on Layoffs Due to Coronavirus

    Coronavirus has had a very bad impact on the economy. With the crash in the economy, a lot of people lost their jobs. Some people even believe that unemployement will have even worse impact of people’s mentality than the impact of coronavirus.

    Many companies laid off thousands of their employees in one go.

    We analyzed a list of 200 companies which laid off their employees. Over 27% of the companies were Travel companies.


    Also read: List of companies hiring amid Coronavirus Pandemic


    Here is an infographic case study on the Layoffs Due To Coronavirus.

    A little request from StartupTalky: If you see any hiring post on LinkedIn, engage with the post. Like it, comment, mention some people who would be perfect for that job or just share the post with your followers. This way, you boost the reach of that post and help someone who is looking for a job.

    Don’t forget to share this infographic on your social media.