Wal-Mart needs to do more...

Besides being slammed for its misdeeds, the Bentonville giant has had green related business issues as well. As exposed by McKinsey & Co., Wal-Mart had lost 8% of shoppers owing to poor environmental reputation. Finally, the company has decided to change, as Lee Scott, CEO, Wal-Mart roared, “This company is uniquely positioned. But we won’t be measured by aspirations. We will be measured by our actions...”

And to put promises to practice, Wal-Mart opened its first two ‘green’ stores in McKinney (Texas) & Aurora (Colorado), which consumed 20% less electricity generated by wind. The company also pledges to make all its existing stores 20% more energy efficient by 2012 as compared to 2005. It also announced a solar power project in 22 stores in May 2007 and pledged to increase fleet efficiency by 100% by 2015. It also plans to reduce solid wastes from its stores by 25% by 2009. The retailer is also encouraging organic products & plans to shell out $500 million for sustainability!

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Source: IIPM Editorial, 2007
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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The Bajaj on ‘3’ wheels...

The Board of Bajaj Auto Ltd. (BAL) has nodded a demerger scheme, ripping apart the nations number two- two wheeler manufacturer into three separate units. Consequently this exercise will create two new companies from the existing resources. The newly carved businesses will essentially be fully owned subsidiaries namely, Bajaj Holdings and Investment Ltd. (BHIL) and Bajaj Finserv Ltd. (BFL). Rahul Bajaj revealed that the manufacturing business would remain in BHIL while other strategic businesses would be included in BFL. It has been further stated that there would be no change in the management structure in spite of all these split ups. As a matter of decision Rahul Bajaj’s elder son, Rajiv will continue to be the MD and CEO while younger Sanjiv will remain as the ED (additionally handling financial and international operations and BFL). The senior Bajaj revealed that the two new entities will have some common composition and will be consisting of a four member board, with Rahul himself, Madhur, Sanjiv and Rajiv at the helm. Post demerger, BAL shareholders have also been comforted as they would continue to hold one share of the company with face value of Rs.10, and would also be allotted additional BHIL and BFL shares, valued at Rs.10 and Rs.5 respectively. Apart from these changes, there is one major diversification worth to be noted! BAL will now be consequently renamed as Bajaj Holdings Ltd., eventually leading to a whopping Rs15 billion cash transferred to Bajaj Holdings. The new mega entity is also expected to get Rs37 billion cash or cash equivalents as part of the demerger. For starters, holdings of group companies, worth Rs27 billion are also on the cards. The share capital has been estimated to be close to Rs1.5 billion.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

UTI Bank registered net profits of Rs.6.59 billion for the year 2007

However, despite this top-notch performance, there are black clouds hovering over UTI’s future. P.J. Nayak, CMD of the bank, has announced his retirement and will hang up his boots by July 2007. Often called as the anchor man of UTI, Nayak has led the turnaround of UTI Bank, which was once under the typical public sector culture, very much reflected in its appearance and efficiency. UTI stock, which was quoting at a meagre Rs.24 when Nayak walked in (in 2000) has skyrocketed to Rs.480.

In the midst of Nayak’s walk-out, UTI Bank has also decided to rechristen itself as Axis Bank and the makeover would be completed in the later half of this year. With a series of warranted (and some unwanted) changes striking at its heart, staying rooted to the ‘axis’ will be the best advice for this one.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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