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BANGALORE: Infosys announced its biggest-ever acquisition on Monday, a development that could temporarily muffle chatter that the company is too conservative and risk-averse for its own good.
India's second-largest software exporter said it would buy Lodestone Holding, a Switzerland-based consulting company specialising in business software from Germany's SAP, for about $350 million ( Rs 1,932 crore), giving it better reach in continental Europe. "I don't think Infosys and conservative should be used in the same sentence anymore," Chief Executive SD Shibulal declared, referring not just to the acquisition but also the realignment of the business model, which he called "a bold step". But investors hoping for meaningful deployment of Infosys' Rs 20,000-crore cash pile were not overjoyed. The company's shares closed only 0.6% higher on the Bombay Stock Exchange after having run up about 10% in the last month. The acquisition of a European consulting outfit drew the inevitable comparison with Axon, a UKbased company in the same line of business that Infosys was keen on buying in 2008. When rival HCL Technologies entered the fray, raising the prospect of a bidding war, Infosys backed out, leaving the Gurgaon-based company to buy Axon for about $650 million. "After losing out on the Axon acquisition, Infosys organically grew its consulting and system integration revenues to $525 million - 5% compounded quarterly growth rate over the last 20 quarters," said Shashi Bhusan, senior research analyst at brokerage Prabhudas Lilladher. "We see this acquisition as a much-needed inorganic booster for the company," Bhusan said. Chief Financial Officer V Balakrishnan said it was "worth the wait", referring to the decision to back away from Axon.
Following the acquisition, Infosys may revise its revenue growth guidance for the year to March 2013. This may be done while announcing earnings for the September quarter. The Bangalorebased company is projected to grow 5% in the year to March 2013, compared with 11-14% for the industry. Lodestone, with 850 employees, including 750 consultants, comes with about 200 clients in the manufacturing, automotive and life sciences sectors. Its 2011 revenues were 207 million Swiss francs, or Rs 1,200 crore. It will take Infosys' SAP practice to about 10,000 professionals and $1 billion in revenues. There is only marginal overlap between clients of Infosys and Lodestone, presenting significant cross-selling opportunities, the companies said.
Go Beyond the Brief "Great teams have the ability to go beyond the brief and bring new perspectives to the contracted assignment," Gupta says. Such teams will inevitably push themselves and sometimes even their managements into thinking out of the box, she adds. Interact Informally While formal feedback can help identify strengths and weaknesses of a team, informal interactions also help in knowing teams better. "I always look out for personal experiences with my team members and colleagues in both formal and informal settings to get to know them better and to appreciate their (and each other's) strengths and advantages," says Banerjee. Aim at Larger Picture A team that rests on past laurels can never achieve greatness. To succeed and be a great team you need to have an achievement orientation, says Gupta. Execution skill is critical to enhance a team's performance and a leader needs to ensure that the team has the ability to look at the larger picture and have a purpose behind their actions, adds Banerjee.
12th Sept12
Aditya Birla Group's Madura Fashion & Lifestyle enters luxury single brand retail with UK's Hackett
The move follows a mandate from group chairman Kumarmangalam Birla to give heft to the growing high-margin fashion business and dramatically scale up revenues within the next few years. MUMBAI: Aditya Birla Group's Madura Fashion & Lifestyle has entered the luxury single brand retail through a joint venture with British luxury menswear and accessories brand Hackett London as part of a strategy to be present across price and consumer segments in the fashion business. The move follows a mandate from group chairman Kumarmangalam Birla to give heft to the growing high-margin fashion business and dramatically scale up revenues within the next few years, officials said. Confirming the move, Madura F&L CEO Ashish Dikshit said, "Our partnership with Hackett London establishes our intent and we plan to bring in few more brands to India from around the globe." He added, "Markets are evolving in various segments and offers opportunities for market dominance in the apparel industry." The 33-year-old brand Hackett, founded by designer Jeremy Hackett, has over 77 stores mainly in Europe and Asia. Its commercial success has been linked to the export of its very British take on things to countries around the world, which will now extend to India. Vicente Castellano, managing director of Hackett London, said India has been on the firm's radar for some time. "Madura's undoubted understanding of the Indian men's fashion market combined with the appeal of Hackett London, will enable Hackett to build a strong business in India and bring our 'Essentially British' world to the Indian consumer," he said. Madura is setting up the first Hackett store in the Emporio mall in Delhi in the second week of September followed immediately by another store opening in UB City, Bangalore. A third store will come up in Chandigarh this fiscal. Harminder Sahni, MD of management consulting firm Wazir Advisors, said the Aditya Birla Nuvo firm is moving in the right direction. "While luxury retail is a tiny market in India yet, it makes strategic sense to have corner space at the right time," he said. Madura F&L's portfolio includes product lines that range from affordable and mass-market to
luxurious, high-end brands and caters to every age group, from children and youth to men and women. Its brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
12th Sept12