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Try Feedforward Instead of Feedback

Try Feedforward Instead of Feedback
Adapted from Leader to Leader, Summer 2002
by Marshall Goldsmith
Providing feedback has long been considered to be an essential skill for leaders. As they strive to achieve the goals of the organization, employees need to know how they are doing. They need to know if their performance is in line with what their leaders expect. They need to learn what they have done well and what they need to change. Traditionally, this information has been communicated in the form of "downward feedback" from leaders to their employees. Just as employees need feedback from leaders, leaders can benefit from feedback from their employees. Employees can provide useful input on the effectiveness of procedures and processes and as well as input to managers on their leadership effectiveness. This "upward feedback" has become increasingly common with the advent of 360 degree multi-rater assessments.But there is a fundamental problem with all types of feedback: it focuses on a past, on what has already occurred - not on the infinite variety of opportunities that can happen in the future. As such, feedback can be limited and static, as opposed to expansive and dynamic.Over the past several years, I have observed more than ten thousand leaders as they participated in a fascinating experiential exercise. In the exercise, participants are each asked to play two roles. In one role, they are asked provide feedforward - that is, to give someone else suggestions for the future and help as much as they can. In the second role, they are asked to accept feedforward - that is, to listen to the suggestions for the future and learn as much as they can. The exercise typically lasts for 10-15 minutes, and the average participant has 6-7 dialogue sessions. In the exercise participants are asked to: - Pick one behavior that they would like to change. Change in this behavior should make a significant, positive difference in their lives.- Describe this behavior to randomly selected fellow participants. This is done in one-on-one dialogues. It can be done quite simply, such as, "I want to be a better listener."- Ask for feedforward - for two suggestions for the future that might help them achieve a positive change in their selected behavior. If participants have worked together in the past, they are not allowed to give ANY feedback about the past. They are only allowed to give ideas for the future. - Listen attentively to the suggestions and take notes. Participants are not allowed to comment on the suggestions in any way. They are not allowed to critique the suggestions or even to make positive judgmental statements, such as, "That's a good idea." - Thank the other participants for their suggestions.- Ask the other persons what they would like to change.- Provide feedforward - two suggestions aimed at helping the other person change.- Say, "You are welcome." when thanked for the suggestions. The entire process of both giving and receiving feedforward usually takes about two minutes.- Find another participant and keep repeating the process until the exercise is stopped.When the exercise is finished, I ask participants to provide one word that best describes their reaction to this experience. I ask them to complete the sentence, "This exercise was …". The words provided are almost always extremely positive, such as "great", "energizing", "useful" or "helpful." The most common word mentioned is "fun!"What is the last word that most of us think about when we receive feedback, coaching and developmental ideas? Fun!Eleven Reasons to Try FeedForwardParticipants are then asked why this exercise is seen as fun and helpful as opposed to painful, embarrassing or uncomfortable. Their answers provide a great explanation of why feedforward can often be more useful than feedback as a developmental tool.1. We can change the future. We can't change the past. Feedforward helps people envision and focus on a positive future, not a failed past. Athletes are often trained using feedforward. Racecar drivers are taught to, "Look at the road ahead, not at the wall." Basketball players are taught to envision the ball going in the hoop and to imagine the perfect shot. By giving people ideas on how they can be even more successful, we can increase their chances of achieving this success in the future.2. It can be more productive to help people be "right," than prove they were "wrong." Negative feedback often becomes an exercise in "let me prove you were wrong." This tends to produce defensiveness on the part of the receiver and discomfort on the part of the sender. Even constructively delivered feedback is often seen as negative as it necessarily involves a discussion of mistakes, shortfalls, and problems. Feedforward, on the other hand, is almost always seen as positive because it focuses on solutions - not problems.3. Feedforward is especially suited to successful people. Successful people like getting ideas that are aimed at helping them achieve their goals. They tend to resist negative judgment. We all tend to accept feedback that is consistent with the way we see ourselves. We also tend to reject or deny feedback that is inconsistent with the way we see ourselves. Successful people tend to have a very positive self-image. I have observed many successful executives respond to (and even enjoy) feedforward. I am not sure that these same people would have had such a positive reaction to feedback. 4. Feedforward can come from anyone who knows about the task. It does not require personal experience with the individual. One very common positive reaction to the previously described exercise is that participants are amazed by how much they can learn from people that they don't know! For example, if you want to be a better listener, almost any fellow leader can give you ideas on how you can improve. They don't have to know you. Feedback requires knowing about the person. Feedforward just requires having good ideas for achieving the task.5. People do not take feedforward as personally as feedback. In theory, constructive feedback is supposed to "focus on the performance, not the person". In practice, almost all feedback is taken personally (no matter how it is delivered). Successful people's sense of identity is highly connected with their work. The more successful people are, the more this tends to be true. It is hard to give a dedicated professional feedback that is not taken personally. Feedforward cannot involve a personal critique, since it is discussing something that has not yet happened! Positive suggestions tend to be seen as objective advice - personal critiques are often viewed as personal attacks.6. Feedback can reinforce personal stereotyping and negative self-fulfilling prophecies. Feedforward can reinforce the possibility of change. Feedback can reinforce the feeling of failure. How many of us have been "helped" by a spouse, significant other or friend, who seems to have a near-photographic memory of our previous "sins" that they share with us in order to point out the history of our shortcomings. Negative feedback can be used to reinforce the message, "this is just the way you are". Feedforward is based on the assumption that the receiver of suggestions can make positive changes in the future.7. Face it! Most of us hate getting negative feedback, and we don't like to give it. I have reviewed summary 360 degree feedback reports for over 50 companies. The items, "provides developmental feedback in a timely manner" and "encourages and accepts constructive criticism" almost always score near the bottom on co-worker satisfaction with leaders. Traditional training does not seem to make a great deal of difference. If leaders got better at providing feedback every time the performance appraisal forms were "improved", most should be perfect by now! Leaders are not very good at giving or receiving negative feedback. It is unlikely that this will change in the near future.8. Feedforward can cover almost all of the same "material" as feedback. Imagine that you have just made a terrible presentation in front of the executive committee. Your manager is in the room. Rather than make you "relive" this humiliating experience, your manager might help you prepare for future presentations by giving you suggestions for the future. These suggestions can be very specific and still delivered in a positive way. In this way your manager can "cover the same points" without feeling embarrassed and without making you feel even more humiliated.9. Feedforward tends to be much faster and more efficient than feedback. An excellent technique for giving ideas to successful people is to say, "Here are four ideas for the future. Please accept these in the positive spirit that they are given. If you can only use two of the ideas, you are still two ahead. Just ignore what doesn't make sense for you." With this approach almost no time gets wasted on judging the quality of the ideas or "proving that the ideas are wrong". This "debate" time is usually negative; it can take up a lot of time, and it is often not very productive. By eliminating judgment of the ideas, the process becomes much more positive for the sender, as well as the receiver. Successful people tend to have a high need for self-determination and will tend to accept ideas that they "buy" while rejecting ideas that feel "forced" upon them.10. Feedforward can be a useful tool to apply with managers, peers and team members. Rightly or wrongly, feedback is associated with judgment. This can lead to very negative - or even career-limiting - unintended consequences when applied to managers or peers. Feedforward does not imply superiority of judgment. It is more focused on being a helpful "fellow traveler" than an "expert". As such it can be easier to hear from a person who is not in a position of power or authority. An excellent team building exercise is to have each team member ask, "How can I better help our team in the future?" and listen to feedforward from fellow team members (in one-on-one dialogues.) 11. People tend to listen more attentively to feedforward than feedback. One participant is the feedforward exercise noted, "I think that I listened more effectively in this exercise than I ever do at work!" When asked why, he responded, "Normally, when others are speaking, I am so busy composing a reply that will make sure that I sound smart - that I am not fully listening to what the other person is saying. In feedforward the only reply that I am allowed to make is ‘thank you'. Since I don't have to worry about composing a clever reply - I can focus all of my energy on listening to the other person!"In summary, the intent of this article is not to imply that leaders should never give feedback or that performance appraisals should be abandoned. The intent is to show how feedforward can often be preferable to feedback in day-to-day interactions. Aside from its effectiveness and efficiency, feedforward can make life a lot more enjoyable. When managers are asked, "How did you feel the last time you received feedback?" their most common responses are very negative. When managers are asked how they felt after receiving feedforward, they reply that feedforward was not only useful, it was also fun!Quality communication - between and among people at all levels and every department and division - is the glue that holds organizations together. By using feedforward - and by encouraging others to use it - leaders can dramatically improve the quality of communication in their organizations, ensuring that the right message is conveyed, and that those who receive it are receptive to its content. The result is a much more dynamic, much more open organization - one whose employees focus on the promise of the future rather than dwelling on the mistakes of the past.
Dr. Marshall Goldsmith's 28 books include: Mojo: How to Get It, How to Keep It, and How to Get It Back When You Lose It! - a New York Times (advice), Wall Street Journal (business), USA Today (money) and Publisher's Weekly (non-fiction) best seller, What Got You Here Won't Get You There - a New York Times best-seller, Wall Street Journal #1 business book and Harold Longman Award winner for Business Book of the Year. Succession: Are You Ready? is the newest edition to the Harvard Business 'Memo to the CEO' series. His personal website, www.MarshallGoldsmithLibrary.com, contains hundreds of his articles and videos.
Read More 0 comments | Posted by Bela Gupta edit post

Freedom from Fear..

Freedom from Fear By Sheila DeButler
The greatest barrier to happiness in the world today is … fear.
Fear keeps us from living our lives fully; it locks us behind doors, too frightened to take chances, so afraid of losing what we covet that we can barely move at all.
Fear creeps into our lives in so many ways. We fear death, so we are afraid of living. We fear rejection so we are afraid of relationships. We fear failure so we hide from success.
Fear makes it impossible to enjoy what we have, to appreciate life, because we are afraid that our happiness, our successes, our possessions can be taken away from us. We can’t live in the present because the possible horrors of an imagined future paralyze us … with fear. But, what can we do about it?
We can begin by recognizing that fear has many forms, and that there is such a thing as healthy fear. We have a biological fear of fire, for example, which keeps us from getting burnt. A car comes careening toward you, you leap out of the way, your heart pounding in terror. Primal fears are hard-wired into us to keep us safe, so that we don’t act recklessly or take unnecessary risks.
But when fear blocks our very ability to live, it is supremely unhealthy.
Of course, fear – as a natural part of our human make-up – can never be banished forever. Circumstances change, life is in constant flow, and no matter how well we train ourselves to become free of fear, we will nevertheless face that challenge again and again.
The trick is to recognise this, and to not succumb to fear when it re-enters our lives.
One of our greatest fears is fear of change. And yet the world is constantly changing. The problem arises when we begin to identify with the changes – when we begin to define ourselves as a particular manifestation, rather than as a living being in a fluid state of existence.
Imagine looking in the mirror when you are very angry. You know this is a temporary state, but for the moment you identify with that state. You say, ‘I am angry,’ as if you are defining yourself as an angry person. But the anger – as something temporary caused by changing circumstances – is an illusion. Thus, the person you see in the mirror is also an illusion.
You are only seeing one facet of your complex self, and ignoring the deeper, spiritual you – the part of you that has nothing to do with circumstance. You see, once you identify with temporary feelings, you experience fear. Maybe you’re afraid you won’t get what you want – your next meal, a big promotion, love … whatever – and that fear begins to suffocate you.
But when you remember that you are a spiritual being, that you are separate from appearances, that you are eternal, you can begin to release the fear. By bringing your attention back to what already exists you can be in touch with your divine nature. And in that place, there is no place for fear.
At its core, fear is the ego’s fear of not existing. The ego – that part of us that thinks it is all of us – is constantly analyzing, intellectualizing, measuring and quantifying in its effort to dream its way into existence.
Many of us have had enlightening glimpses of our true nature. When it happens, it’s beautiful – a freeing and uplifting experience. However, the ego is very powerful, and it usually comes marching in again and tries to retake its position at the center of our existence.
But once you understand this, you can work to free yourself of the ego’s power. You have a choice, every moment of every day, to silence the chattering beast that is the ego and to focus your attention not on fear of what might be, but on the certainty of what is – your true nature.
We are all reborn every single moment. If you choose fear, it is fear you will experience, and you will find yourself surrounded by other fearful people.
But yes, you can choose to detach yourself from fear and focus instead on the higher truth of your spiritual reality. Life often seems to be a roller coaster ride, dipping from heights of good, down to troughs of bad … all the dualities: good/bad, happy/sad, rich/poor, loved/lonely, sick/well, etc.
But the trick is not to simply focus on the apparent high points which we call ‘good.’ Instead, the trick is to see it all as a wholeness, the flowing process of life, without judgement, without anger, without fear.
For most people, the greatest fear of all is the fear of death. It paralyze many of us to the extent that we are obsessed, incapable of appreciating the life we are currently living.
The great teacher Ramana Maranhi recommends practicing your own death. Check out this little story about facing death for the first time:
It was in 1896, about 6 weeks before I left Madurai for good that this great change in my life took place. I was sitting alone in a room on the first floor of my uncle’s house. I seldom had any sickness and on that day there was nothing wrong with my health, but a sudden violent fear of death overtook me. There was nothing in my state of health to account for it nor was there any urge in me to find out whether there was any account for the fear. I just felt I was going to die and began thinking what to do about it. It did not occur to me to consult a doctor or any elders or friends. I felt I had to solve the problem myself then and there. The shock of the fear of death drove my mind inwards and I said to myself mentally, without actually framing the words: ‘Now death has come; what does it mean? What is it that is dying? This body dies.’ And at once I dramatised the occurrence of death. I lay with my limbs stretched out still as though rigor mortis has set in, and imitated a corpse so as to give greater reality to the enquiry. I held my breath and kept my lips tightly closed so that no sound could escape, and that neither the word ‘I’ nor any word could be uttered. ‘Well then,’ I said to myself, ‘this body is dead. It will be carried stiff to the burning ground and there burn and reduced to ashes. But with the death of the body, am I dead? Is the body I? It is silent and inert, but I feel the full force of my personality and even the voice of I within me, apart from it. So I am the Spirit transcending the body. The body dies but the spirit transcending it cannot be touched by death. That means I am the deathless Spirit.’ All this was not dull thought; it flashed through me vividly as living truths which I perceived directly almost without thought process. I was something real, the only real thing about my present state, and all the conscious activity connected with the body was centered on that I. From that moment onwards, the “I” or Self focused attention on itself by a powerful fascination. Fear of death vanished once and for all. The ego was lost in the flood of Self-awareness.
Yes! He says, we should imagine exactly what it would be like to die right now – each and every moment. Then when death comes, we will realize it is not frightening at all – it is simply a natural transition – another change in the flow of life, and if we have trained ourselves to greet change as a natural part of life, instead of fearing it, we have freed ourselves from the greatest barrier to happiness: FEAR.
A common source of fear is desire.
One way to practice what Ramana Maranhi suggests – a bit less dramatically than practicing our own death – is to ask yourself about your needs and desires.
Ask yourself
Do I really need this?
Do I have to judge this?
Do I really need to be appreciated for this?
Do I really need his approval?
Do I really want this?
And by asking these questions, you begin to strip down your wants and needs and discover what really matters to you. When you don’t really want something, the fear of losing it evaporates into thin air!
A huge obstacle to this kind of acceptance is our insistent yearning for something ‘out there.’
‘Out there’ is an illusion. There is only the here and now. Our desire for something else has us playing the ego’s game of if only …
… if only I had more money
…If only he loved me
…If only I had a better job
…If only I could afford those shoes …
But what we need to develop is an ability to stop and look at ourselves – not our ‘self-image,’ which is an illusion – but at our true selves. Enlightenment is all about realizing that there is only one consciousness, and that the self, itself, is an illusion.
Of course, this realization can also be frightening. It is a bit ironic that conquering fear can generate a new kind of fear: fear of the truth. What the Buddha calls ‘spiritual death’ can be very frightening indeed, as we awaken from not only our own dream but humanity’s collective dream.
In this new state of being you must just let it be. Don’t think of enlightenment as something you receive. You don’t get anything from enlightenment, you lose the part of you that has been seeking it so desperately. The need, the desire, are gone.
And with them, fear.
Okay, you may be thinking, ‘But fear is fear. When you’re afraid of something you don’t want to face it, so how can you fight it?’
You’re right. Seeing fear as the ‘enemy,’ that must be defeated just feeds more fear. What you need to learn to do is to allow fear to crumble away into nothingness, rather than confronting it head on.
This isn’t a battle; you have no stance to make. Simply draw your attention to what is arising and allow it to dissolve.
One of the most common expressions of fear is anger. When you feel anger rising inside you you can fight it, you can express it, you can repress it, but none of these things will defeat the fear that generated the anger. What you should strive to do is ‘let it be.’ Try to picture the fear for what it is – the ego’s attempt to control you – and let it slowly fade away.
Instead of running from fear, just stop! You see, fear gets all its power from you. Negative emotions have tremendous power. But if you can be still and refuse to be moved, that power fades, the shadow dims and fear drifts away.
Read More 0 comments | Posted by Bela Gupta edit post

Retail Trigonometry




We all wonder why some retail shops do well and some don’t do so well and then we all try and put our analysis or the reasons for failure, and so here I am doing the same I have in the last few years put down a consolidated checklist for you all on the learning that we’ve had. The fundamental levers that affect any retail business are:
· Customer Entry
· Customer Conversion
· Customer Cash memo size

If any of the above increase... your business increases and any of them decrease... the business necessarily decreases. Simple tools that you should institute as checks in your business, so, that you are able to evaluate any immediate problems in your business.
First and foremost it is important that you have sufficient customer entry into your retail store, and then it is equally important that you are able to convert this customer entry into a buying customer and finally at what bill value have the customers bought. Well, easier said then done so let’s examine what really is the root cause for any of the above levers not performing.

· Location of store, Visibility of the store
· Creation of customer awareness about the retail brand
· Creation of loyalties with customer to the retail brand
· Lack of focus - positioning of retail brand
· Lack of focus - differentiation of retail brand
· Store look and feel
· Store circulation
· Store lighting
· Store music and smells
· Store signage
· Merchandise Mix focus to match positioning and differentiation of retail brand
· Merchandise category adjacencies
· Merchandise that fulfills needs/wants and value every time
· Merchandise availability
· Visual merchandising in the store
· Trained customer service personnel at the store
· Friendly customer service
· Even more friendlier standard sound customer service policy
· Efficient cashiering services
· Facilities like Parking, ATM’s, food courts, play areas, alterations, customization, home delivery and after sales service etc.

You will notice that all the above functions affect the three levers mentioned earlier. So how do we administer all the above for a single small store…Well then I must tell you of a little secret that we all know, heard or read whenever its in relation to retail…Retail is Detail…of little things that constitutes a lot, and it is very important in this part of the supply chain as this is the last link that interfaces directly with the end consumer.

So will the above ensure success to my retail business, and “No” I say coz’ that will ensure every thing to give a fillip that you need to achieve the top line in your retail business and so let’s get to discuss the bottom line or the productivity index of your business? My learning’s of the retail business in the last many years, and I have narrowed it down to three areas that you should monitor to ensure a healthy bottom line:

· Gross margin return on Investments(GMROI)
· Gross margin return on floor space(GMROF)
· Gross margin return on labour(GMROL)

Each of the above indices will measure productivity to check the bottom line and returns in your business and also help you keep a health check of your business.
So how does one ensure that you keep a healthy bottom line working... for this I am listing you parameters that constitute to better the GMROI, GMROF and GMROL indices:

· Ensure that you know what kind of market size your concept would yield and what would you achieve as your targeted sales, a blue print or a business plan for your retail business
· Plan the right size (Sq footage)of the retail store based on concept and range width planning
· Ensure that you rent your property at realistic rates + any additional charges and what is the ratio of Chargeable rent to carpet rent.
· Plan your store design in sync with your Brand positioning and that your store design incorporates all the functionality required by your products and customers and also keeps aesthetics in mind, and not the other way around
· Plot your Product Range width plan in a balanced and tight manner
· Ensure that the average gross margins that you make are adequate to start of with and better as the business grows
· Price your products correctly not too little not too high but just right so the customer can see and feel value
· Keep a tight control on Labor costs, my version to this cost head is ensure that you pay best as per industry standards to keep them motivated ,train them thru “training the trainer” process to keep a tight control on training costs, and thru correct HR practices ensure a growth plan for your employees
· Look at proper CRM(customer relationship management) and DTH(direct to home) tools to manage marketing costs
· Install correct IT systems to give you feedback on the business and support the logistics of your business
· Partner with your vendors to ensure smooth business growth, pay them on time, sit with them to plan and develop future business and also review current business, cut unnecessary costs in the supply chain, look at development of your vendors and products
· Plan a review and feedback mechanism from customers and competition to keep a track on your business
· Exercise a right budgetary control month on month

Now you are sure to say, so is retailing complicated, It seems like you have to have the strengths of all the gods Brahma, Vishnu and Mahesh combined to try and achieve all that is listed above and “No” I say again as it is not so complicated but it does require an organized approach and a passion for detail……the result will be a lot of Happy customers and a whole load of tinkling of your cash registers.

So the mantra to do it in an organized manner is Plan, Organize, Execute, Review & monitor and so on, you could also do a SWOT to evaluate your strengths and build on them with more focus, and analyze your weakness and look if you could outsource them and add value for your business from experts, to look at opportunities and gaps to position your brand , and finally to look at threats as a guideline to monitor your business…creating a Unique Selling Proposition for your Retail Brand…All what I have said has been said before and read before but I am saying it with another perspective and bringing to you my experience.
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The New Indian Melting Pot…

Indian Economy
India is rated among the top 10 FDI destinations. As targeted FDI is to hit $13 billion in the 12 months ending March 2007, more than double India’s previous best of $5.5 billion hit in the previous year. India is investing over US $130 billion in infrastructure by the end of this decade. Indian retail industry itself has attracted investment of over INR 200 billion (over $4 billion) in creating infrastructure, systems & shop-fit. The additional retail space is expected to add INR 300 billion ($ 6.67 billion) of business to organized retail. India’s stock market continues to rise at unprecedented levels & the quantum of investments is likely to skyrocket. India’s GDP growth at 8.7% makes it the second fastest growing economy in the world.


Indian retail scenario
My take on the Indian Retail scenario is: what took the organized retail in the developed world 100 - 150 odd years to mature, India will witness the same in a much crunched time of 30 to 40 years with all kinds of formats like Supermarkets, Hyper-markets, Cash & Carry, Department stores, Specialty Stores emerging and other new concepts. India has a diverse mix and blend of cultures. A melting pot for the young nation which blends both, Indian culture and a western mindset of a new emerging generation, both the organized retail and traditional mom and pop retail will co-exist and complement each other as in the other parts of the world. What will perish is business that is not willing to change. Each of them will add value whist catering to the unique requirement of products and services by this young country which is witnessing a change in its increasing mix of the middle class population which is getting richer. The nation will see a surge in annual incomes, by the year 2010, 1,40,000 families will grow to annual incomes of more than $2,30,000.

Indian Consumer
The Indian Consumers have witnessed changes from being a Striving Traditional Indian customer up to the 1980’s in a Triangle shaped economy where a large base of the population was poor.. to the one which is a Confident Global Indian of the 1990 and 2000’s era and moving towards being a Shining and Winning Indian where we will feature amongst the top 5 economies by 2025 and in an economy that will be a Diamond Shape where the bulk of the economy will be Middleclass and Rich and becoming increasingly intelligent, demanding more value for the money… Indian retail has witnessed and will see a sea of changes …




Indian Private Consumption
According to an Economic survey report and Technopak analysis current private consumption stands at US$ 410 Billion for 2007 and is planned to grow another US$ 200 Billion by 2013


Year 2007 .Source: Economic Survey of India and Technopak Analysis.Conversion rate: 1 US$ = 40.4 Rs.

Organized Retail Share
Organized retail share to reach 25% from the current 4% a lot of large Industry players contributing and committing to the growth of organized retail which has seen many success stories like the K. Raheja’s, Tata’s, Future, Lifestyle, D.S Group, Reliance, Bharti, Aditya Birla, ITC, RPG, Mahindra’s, DLF, India Bulls, Raymond, Globus, Subhiksha, Viveks, Nallis, Kapsons, Ritu wears, Ebony, Bombay Dyeing, Welspun, Arvind, S. Kumars, Century, Dabur, Essar, Nilkamal, Gitanjali, Apollo, Vishal, Parshvnath, Koutons, Provogue, Kewal Kiran, Giny & Jony,

Source: Technopak Analysis

and many more. A lot of the International Brands like Walmart, Tesco, Carrefour, Metro, Target, Marks & Spencers, Debenhams, Next, Gautier, Staples, Office works, Argos, Waitrose, My Dollar Store, Royal Sporting House, Planet Sports, Reebok, Nike, Adidas, Levis, Wrangler, Lee, Pepe, Lee Cooper, Tommy Hilfiger, Guess, Gas, Calvin Klien, Diesel, Miss Sixty, Energie, G-star United Colors of Benetton, Espirit, Nautica, Lacoste, Gant, French Connection, Mango, Promod, Zara, Giorgio Armani, Giordano, Kappa, Springfield, Bossini, Mothercare, Disney, Barbie, Pumpkin Patch, Adams, Okaidi, Kazo, New Look, 109 Degrees, S. Olivier, Jockey, Triumph, Etam, La Sensa, Mont Blanc, Louis Vuitton, Gucci, Salvatore Ferragamo, Valentino, Hugo Boss, Zegna, Luxxotica, Omega, Rolex, Swaroski,Tag Heuer, Swatch, Ray- Ban, Oakley, Apple, Bose, Nokia, Damas, Aldo, Nine-west, Charles & Keith, Body Shop, Prada, Clinique, Versace, D&G, Victorinox, Ferrari, Nao, DKNY, Samsonite, TGIF, Hard Rock Café, Patchi, Nando’s, Bread Talk, Cookie Man, Boost, Domino’s, Mc Donald’s, Pizza Hut, Subway etc with various formats & concepts.
I also foresee a win-win strategy for both kinds of retailers a lot of larger retail corporate’s will acquire small and medium sized retail businesses based on their strategy to scale up their operations and market share which will benefit both.

Organized Retail is yet to mature.
Since a lot of hype and money is committed towards this sector, anticipated investments forecasted by Technopak in organized retail will be US$ 35 Billion in next 4-5 years and rightly so,
Ø I see a lot of the organized retail players, who are in the midst of this growth phenomena, will keep a close track of the fast changing environmental needs that have to be anticipated from their instincts or research with a right degree of accuracy, for example our country has a large youth population and internet usage is high, so “web-retail” will be a future big potential growth area.
Ø The serious players will review & measure key performance indices regularly and make changes to deliver the right values in the business for example monitoring inventories at SKU levels regularly to increase availability hit rates of the merchandise on the floor, regular training of staff and daily feedback gathering mechanism by shop floor staff which will be filtered and translated to actionable points to ensure customer satisfaction and higher yield per square feet.
Ø Strategy and budgets which will be planned meticulously and closely monitored (3 years and 6months respectively) by the key players keeping in mind the changing economic scenario and the constantly evolving consumer preferences.
Ø The key is to innovate and reinvent your strategy wheel more often, based on your core competence and outsource or collaborate so as to match the speed of this fast paced economic growth for example outsourcing of logistics providing or Design based services to outsource specialist functions and ramp up growth.
Ø Since development is fast paced it is important to look into new learning’s of retailers in the recent grown economies like Thailand, Malaysia etc and the growing BRICS economies and learning’s of mistakes from competition in the country.

Format-wise Share of New Investments by 2013

It is also a time for the Retail Industry players to multi task - play God and perform well simultaneously in a few core areas:
Ø Whilst picking and choosing the right locations with the right mall developers.
Ø Training manpower quickly to drive very hard basic retail standards and business fundamentals.
Ø Tightening controls or drainages in operational systems
Ø Stringent quality controls from end to end to deliver the right value
Ø Effective supply chain looking for innovative and simple solutions to block any time delays and wastages
Ø Innovative and intelligent marketing and differentiated USP’s.
To deal with the formidable challenge of Growth as competition is growing and customers are flirting with all that is new and readily available and is currently shifting loyalties in this fast era of change.
Trade Governing Regulations
The current regulations are very stringent for the retail Industry and looking at the growth that the Industry is poised to take even the Government is under pressure to make suitable changes on issues like:
Ø Granting retail... Industry status
Ø Relaxed FDI regulations in all formats
Ø Lowering some of the taxes levied on products & services in retail.

Retail Support Services
There will be a lot of Retail support services business that will emerge and thrive in various areas and become big businesses
Ø Design Houses for Products and Retail shop
Ø CRM & Web Services
Ø Supply Chain & Logistics Services
Ø IT & MIS Data Management
Ø Retail Fitment Agencies
Ø Property Sourcing
Ø Retail Training Institutes/ Retail specialists training
Ø Mall Management
Ø Event Management
Ø Franchise Management
Ø Retail Management Consultants
Ø A & M Management specializing in Retail Brands

Emerging Retail Concepts
Since I see the new Indian consumer getting educated, more specialized and skilled, living in Nuclear families, richer with more working members per family, conscious of their health and well being, owning computers and are internet savvy, will experience Time poverty, will be Travel & leisure inclined, new concepts that will emerge in organized Retail will be in the services area :
Ø Education and Training for various areas
Ø Recruiting services
Ø Real Estate Consultancy services
Ø Beauty & Health services
Ø Laundry services
Ø Customized 24hr Tailoring services
Ø Virtual retail stores
Ø Travel Services
Ø Consultancy services for various areas
Ø Repair services for various areas like shoes, keys, electrical, plumbing,
Ø Wedding planning services
Ø Packers & moving services
Ø Hospitality services and more...

Besides more concepts in Home, Furniture & Furnishings, Toys, Apparels, Footwear, Watches, Lifestyles and many more…























































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