Towards Sustainability:

Green Reverse Supply Chain

Book Review:

Isn't It Obvious

Knowing all about COMPANY:

A hatke perspective

The Entrepreneurial Minute:

Vikrant Bhujbalrao

Entrepreneur of the Month:

Kishore Biyani

At the very outset let me thank you (I am sure picking up and reading this October Issue of Embark. feedback received from one of our readers which

yourself too) for delighted by the into making some subtle changes which you will witness from current e onwards. The Embark Team appreciates and acknowledges such teedoacks and looks forward to a higher level of 'reader-involvement'. After who marks the existence of Embark.

A matter of 3 days, and the most awaited event in the country commence: Commonwealth Games 2010. It has been in the news quite some days showing the darker side of it. A high level of corrupti and some dense flaws were observed and subsequently resulted into something even worse: athletes pulling out of games. Well, it's a lot easier to sit on the couch in front of the idiot box and criticize for the gruesome blunders made by the Organising Committee (oq. But. think for a moment taking a contrarian view on this subject - I am sure you'll at the least stop criticizing as much.

While we should not consider India any less than a First World nation, we should also be aware of the fact that India is still in its developing stage and has to struggle when it comes to procuring and allocating resources. It takes heart to organise an event at such a big scale. I am hopeful that India as a country will restore the lost faith of the world by the end of the games.

The reason I chose to discuss this topic in Editorial is that - we, as future managers, have a lot to learn from this. You may not organize a CWG in future, but you surely will face most of the problems that OC did. Resource Allocation to that toast to your success in the end, everything have to be planned and managed. The biggest learning we can take from this faux pas is that we need to adhere to the Time' allocated. Management is one of the most important thing to be worked Proper realization of deadlines shall result in successful ' ..... ' ... I<>',.,.,ont'=.·t"

the plans.

Here, I would reiterate simply what Benjamin Franklin

time is never found again".

Wishing all readers a timely success!

Towards Sustainability

Buliding a Green Reverse Supply Chain

.. an overview on Toothpaste Product

Introduction

Operations Strategy

Consumers are increasingly aware and inclined towards green products and organizational policies behind it. Let us think of Toothpaste which is primarily a herbal gel toothpaste free from fluoride, Sodium Lauryl Sulphate, Artificial Colours, Artificial Preservatives and Animal by-products.

This calls for a control on the list of environmentally hazardous raw materials through Green Procurement Policies. A provision for environmental substitution by tree planting and subsequent maintenance can be initiated. Also, suppliers would be forced to have ISO 14001 certification. The product such manufactured in an efficient plant would be GREEN SEAL certified product.

The most important part of the Green Product Cycle is the Waste Management policy. The residue can be utilised as a raw material for manufacturing of PET tiles and sheets, tables, chairs and other office furniture. This in tum would increase revenues for the organisation and a reputation as a green initiative company.

To implement the effective Reverse logistics and material procurement, ragpickers and waste collection centres and depots are targeted. The materials collected by rag-pickers will be collected centrally on weekly basis. The aggregated mass of empty tube material can be recycled in a bulk. This entire process will also include awareness drive for the rag-pickers by their contractors.

The financial implication for the entire drive turns out to be a profitable endeavour for the company. The incremental costs are incurred in making the entire supply chain green in formations of supplier relationships, facility plan' ning, certifications, marketing and promotional activities and reverse logistics etc. These costs are recovered through premium pricing, reduction in raw

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material costs and revenue increment by re-use in other industries.

Currently the market size of toothpastes is t 3000 Crores. The expected market growth rate is 3% CAGR for 2009-12. If the entire oral care market segment is considered, it is 60% for Toothpaste, 23% for T oorhpowder and remaining 17% for Tooth Brush. So, clearly the focus is at the Toothpaste segment.

Product strategy & Lifecycle Management

Toothpaste has to be free from fluoride, sodium lauryl sulphate, artificial colours, artificial preservatives and animal by-products. Hydrated silica is used as the abrasive agent and can be flavoured by natural indigenous herbs such as Lavang, Cboti ilaychi, Saunf, Neem, Bebool &:: Kbedir. It also contains oils such as oils of coriander, ginger, lemon, and spearmint. Other common ingredients for whitening and binding are used as usual.

Packaging Aspects

A multi-layered co-extrusion Postconsumer Recycled Resin (PCR) can be used. Here the value proposition lies in providtng an alternative eco-friendly and sustainable solution to the existing process by using the concept of "REUSE &:' RECYCLE' instead of the conventional approach of land filling which is not sustainable solution for the long term .

The operations strategy revolves around the green, ness of the entire supply chain. Following are the parameters of green supply chain &: its implications -

L Green procurement practices

> Establishment of a control list of environmentally hazardous substances will be made. The toothpaste is free from fluoride, sodium lauryl sulphate, artificial colours, artificial preserva~ tives and animal by-poxiucn: hence the raw materials are so picked up that they are environmentally safe.

) The procurement of toothpaste ingredients will be based on the green pro' curement practices involving recyclable/recycled and reusable yet trusted resources ..

) Natural Raw material extraction will be replaced by similar trees on the barren land and maintenance of the same.

2. Assessment for the environmental management oi suppliers

) The raw materials suppliers will be asked to have ISO 14001 certification. And, also a strict collaborative control on the supplier practices can be implemented.

3. Green product approval

) The toothpaste will be accredited by a green certification such as Green Seal or Green Mark Energy label which is recognized internationally. (Taiwan and USA)

4. An euditing mechanism [or green management

) The organisation will be continuously audited for clean energy mechanism and green management.

5. Green manufacturing practices

> Manufacturing practices to be conducted with higher efficiency and percolation of the fundamentals of green technology amongst the bottom most human resource. As new machinery will be implemented, the processes might be more efficient than before.

6. Green design

> The design of the tube will be so that the recycling will be easier and it would yield about 80% of the material to the re-usable form.

7. Recovery and reuse of used products

) The reverse logistics will be managed through a network of rag-pickers and the rag-picking centres.

> Used tubes of the toothpastes would be collected back by the rag pickers. This recovery method will be yield the highest recovery.

8. Green products standards

) The product will be GREEN SEAL certified and awareness about the' same in the consumer markets would be pushed for.

) A green index rating for green products can be done.

Waste Management Process/Reverse Supply Chain Aspects

About 0.9 billion toothpaste tube are sent to landfills every year, many of which are recyclable. Toothpaste tubes are generally made with aluminium or plastic. Recycling aluminium instead of mining and pro~

cessing virgin ore results in energy lecting these empt}) tubes from the pick-

savings of up to. 95 percent. The pro~ uJ2......c~t~es on a weekly ba~is and later

cess of converting r~ bauxite ~ne seniling It to t e manufactunng plant for source of aluminium tliat makes Up' ~ cyclin~f the tubes and converting

p~r~ent?f the earth's crust) i~ alu- it into ent! utility products.

mimum IS an energy~consum.mg mne, requiring roughly 7.5 kilowatt h ur for each pound of virgin aluminium. In addition, reusin ru,1,lminium means that less bauxite heeds-to be procured to create:¥ new mat: rials: open~cast mining o~uxite~eadS 0 deforestation and destructio~ of e~o~

systems. ,-..........,.F

Plastic is ~e8taaable, taking up to 'Q([) years before begmning to decompose. Recycling plas des keeps this non-D10degradable waste out of

landfills and can eouce energy con;~ umption by 70 pzeent. Recycling pap ro~s, liKe cardboard packaging, r sIts in.4ergy savings-of 40

• It provides resources to the postconsumer manufacturing industry, and requites fewer virgin resources for the creation of new products.

• It saves energy and water since ereating products from recycled materials is less resource-intensive.

=Fo l!ltilize the residue as raw matetialcr manufacture of PET tiles and sheets, tables, chairs and other office furniture.

• The program is now diverting over 1.5 metric tons annually of Shines toothpaste tube packaging volume. The process is an example of sustainability, as well as creating new products; it allows savings in raw material and stimulates job creation.

• To promote recycling in integrated waste management.

Reverse logistics &: MateriaP-pr0GU ement strategy

Waste Management

3) Th rag-pickers will be accordingly ~r· ed by providing monetary incenyes.

Special Awareness drive for the rag-pick-

er community:

A special initiative :in the form of fullfledged programme will be organised in the initial phase in-order to educate the rag-pickers in identifying the tubes along with the other products as a part of the extended plans for other products in the product line. They will be given a comprehensive training to be followed.

The methodology of building a Green Reverse Supply chain is thus explained considering the entire stakeholder's and the systems in the process.

The Authors ~ Rohan B. Sarode and Tushsr S. Padwal are students at Department of Management Sciences, University of Pune (PUMBA).

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Sitting at the college canteen someday I wandered what makes us all friends stay together when there are so many others. It's the company that we enjoy. But then I started thinking what a company is?

Company is a artificial legal entity this is what definition says. The Companies Act of 1956 sets down rules for the establishment of both public and private companies. The most commonly used corporate form is the limited company, unlimited companies being relatively uncommon. A company is formed by registering the Memorandum and Articles of Association with the State Registrar of Companies of the state in which the main office is to be located.

The f rst step in the formation of a company is the approval of the name by the Registrar of Companies (ROC). Further, the. last words in the name are required to be "Private Ltd." in the em of a private company and "limited" in the case of a Public Company.

Then it starts with naming your group; you call it something happening. Thought process at that point of time is bound by your audience.. The college crowd.

The Articles of Association contain the rules and regulations of the company for the management of its internal affairs.

After obtaining the name approval, it normally takes approximately two to three weeks to incorporate a fomparly depending on where the cempany is registered.

There after so as to carry trading activity, one needs to procure the local shop Act license whi ch cemes under the Bombay Shop Act.

Along with the RoC registration we get a Bank accou nt, which is a current account where the initial capital is deposited and can be used as official bank account of the company.

Registration fee is scaled according to share capital of the company as mentioned in the Memorandum. It is 2% of the capital and mi n imum capital of Ilakh for a Pvt limited company.

A Private or Public limited company need to have at least 2 and 7 memo ben respectively and a member should have a CA and lAW fi rm mentioned.

®

P 0 VV ERE 0 o R

The cute girls on whom you have crush and you want to impreu. But in real world the crowd changes, so thus the purpose and thus the name.

The application for registration of company should mention at least four suitable names of the proposed company, in order of preference. The ROC generally informs the. applicant within seven days from the date ofsubm ission of the appl ication, whether or not any of the names applied for is available. Once a name is approved, it is valid for a period of six months, within which time Memorandum of Association and Articles of Association together with miscellaneous documents should be filed.

The Memorandum of Association and Artides of Association is like the rules set in the group where in you informally bind people of performi IIg some duties. If there is an outing can anyone from the group stay behind, or can the members of the group have a coffee alone. Of course not. Thus MoA and AoA is the most important thing in a (Cmpany, which decides rules of the professional company.

The Memorandum of Association is a document that sets out the constitution of the company. It contains, amongst others, the objectives and the scope of activity of the company besides also defining the relationship of the company with the outside. world.

B Y YOU V E N B Y

YOU

Businesses liable for income tax must obtain a tax identification card and number [known as Permanent Account Number (PAN)] from the Rey· enue Department. Businesses liable to withhold tax must necessarily obtain a Tax Deduction Account Number (TAN). The PM is also required to be stated in various other documents such as the documents pertain. ing to sale or purchase of any immovable property (exceeding Pu. five lakh), sale or purchase of a motor vehicle, etc.

For setting up a manufacturing unit following clearances need to be taken into consideration:

I. Land from lAND AND REVENUE Dept.

2. Labour license

3. Environmental Clearance

4. Electricity Board

5. Forest (if necessary)

And others depending upon the nature of the industry.

This is how our college routine turns into a professional new system. So, why fear this system? Just understand it and live a (olfege life in the big world out there. Best of Luck for your future venture.

The Author, Sujay Somani, is the student of Department of l1anagement Sciences, University of Pune (PUf1BAJ and the (o-ordinator of fD Cell .

reneurial M nute

"

to develop my

own idea through which I could explore myself"

Q. How did you get the idea to start your own enterprise?

I think only creation of ideas is not sufficient, it should also be practically implemented. I always wanted to develop my own idea through which I could explore myself. Also, the fact that I have pursued management as an education made me realize that I should rather engage myself in a business than in an ordinary 9 to 5 job. This was one of the reasons I got into entrepreneurship.

Q. How did this concept come to your mind?

The environmental condition is gradually turning towards a 'unhealthy' atmosphere and diseases like Swine Flu and Dengue are becoming more intense. Such cases are being rampantly reported even in a city like Pune nowadays. Apart from the disease factor, the modern way of working in the corporate world has brought in a lot of stress, over-working and deadline pressure to an individual's life.

This called for some thinking and a subsequent step towards working out a solution. To tackle health issues as well as staying fit to make the most of the corporate world, being healthy and having a nutritious diet is utmost important. This is the concept Dr.YOU sells.

Q. What were the problems faced by you initially and how did you deal with them?

I faced many problems like lack of knowledge about hotel management, dealing with vendors, cost cuttings. the problem in infrastructure. among others. The primary purpose was to make the lounge comfortable for the customers. With time, issues are finding appropriate solutions and we are working towards enhancing the customers' experience. To differentiate ourselves from any other health juice parlour, we provide our customers diet consulting by a certified dietician, and also a reading section.

Q. What about your family and friends? Were they supportive to your decision of starting an enterprise of your own instead of doing job?

Although my family trusts me a lot, they are not very happy with my decision of leaving the comforts of my job. In a general sense, my parents are not wrong because it is said that a conventional • Marathi Maanus' can't do any business. I am certainly working towards changing their perspective on this thought.

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The interview was conducted by Rahulkumar Bhol, Ritesh Patil and Kirtiraj Kadam, the students of Department of Management Sciences, University of Pune (PUMBA BT)

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Q. What are your future plans? Where do you see Dr.YOU 5-10 years down the line?

Roughly speaking, my only aim now is to build Dr.YOU as a brand as fast as possible. The primary objective that goes behind the thought is to change the affinity of people from junk-food towards healthier options, Five to Ten years down the line, we see Dr.YOU with a minimum of 500 outlets in India.

Q. What are the stress and pressure involved in this business?

The inevitable stress is that of 'Dhanda', where we see the profit at the end of the day. Besides, maintenance of motivation level in the team members is also important.

Q. Any recreational activity do you indulge to overcome your stress?

I am basically health freak. I attend gym regularly and practice yoga that keeps me fresh and enthusiastic throughout the day.

Q. Would you like to give any message to the budding entrepreneurs of PUMBA?

I. am a child in a business, but still I suggest changing the concept of peoples' mind that a 'Marathi Maanus' can't do business.

Do business, not only create idea but also implement it. Always be ready to accept challenges in the market.

According to me ego and lack of patience are acting as stumbling block to become an entrepreneur.

Q. Any book you like more or you want to suggest?

The book which inspired me and my partners is . Stay Hungry Stay Foolish' by Rashmi Bansal.

Running, growing and even starting a business is a small idea implemented in a simple way. Some say that doing great business is just luck; some say it's a Common Sense, but Successful Entre preneurs say it was OBVIOUS. So what's the uniqueness in this obviousness?

BOOKREVIEW

The success story is about a married couple running a small family owned retail business. Their retail business undergoes various hardships subject to unexpected market changes. This prompts the firm to look forward for a Breakthrough solution that

shall surpass these fluctuations and stand successful in the race.

The book is the journey with a rhetorical, analysis of the firm towards turning a small regional retail business into a profitable, rapidly growing international enterprise.

Eli deals with core problems inherent in the retail industry. The inability to forecast future demand accurately enough is a very critical problem. This in turn leads to a longer supply time. Retailers need to focus on the close-to-exactinventory building in order to inculcate best performance of the entire supply chain. Eli explains better ways to deal with this in the book. He also narrates the importance of the hel.ping hands for inventory management which is Logistics and its exact lrnplementabllity in the given circumstances.

The rhetoric narration of the book would stimulate an ability of focusing at dealing directly with the core problem without which s.ignificant improvement shouldn't be expected. Of course one shall always get a hint of the solutions from the author's previous bestseller THE GOAL which is the ultimate book for a TOe (Theory of Constraints) Learning.

All in all, it's a worth read when the humongous amount of insight comes ina very concise and easy to understand format from the internationally recognized business thought process leader - Dr. Goldratt. When you read the book and try to implement similar things in your business settings, some positive changes are bound to happen. And you will ask yourself - tsn': it Obvious?

- Rohan B. Sa rode, Student, Department of Management Sciences, University of Pune (PUMBA)

Eliyahu M Goldratt (Eli), the author, tries to give us a head-start about this unique obviousness by simple and elegant solutions and shrugs off saying "Isn't It Obvious?" in a typical Eli Style. This book is a wonderful & easy to understand read and useful for Entrepreneurs, Retail Practitioners and Distributorship related stake holders.

US $22.00/ INR ~ 295.00

Since you are reading this, you probably are dunking of Entrepreneurship as an option. But are you ready io leave the 9 to Sjob behind and become your own boss yet! It rakes a cerrarn kind of person to make it rhrough the initial few years. To help you along the entrepreneutisl path, I have searched and researched some of the hottest and best rips 6:om allover the web.

1. Think. And Think Flexible. Think about doing stuff in an unconventional way. Introduce change. Change the way you work. Supply what customers demand.

2. Don't work for less than you can afford to, but do offer a discount ro customers or clients who sign contracts wirh you.

3. Find people who will refer jobs to you. If they send you nightmare jobs, make sure they're balanced out with rewarding (profitable!) ones. Initially, stress more on building your portfolio than your bank account.

4. Develop a good relationship wirh your bank manager and creditors. Show a genuine interest in soLving problems. Pay as much as you can afford co, to everyone to whom you owe money.

5. Get the first client cleverly. Getting the first client IS the toughest part ill venturing into a business. Make sure your first diem gives you enough exposure to attract more clients.

6. Surround yourself with supportive people and don't be discouraged by anyone. If your idea is good and you're determined [0 stick with it through the first few difficult years, your chances of success are great.

7. Admit. your mistakes, correct them and carry on. This is the key to good relationships. Denying responsibility is inviting trouble for you business. Be responsible.

8. Get trained! You'll be spending a lot of time doing chi norhing co do with your area of expertise, like bookk ing, and IT support!

9. Avoid isolation. Even if you work clos won't be part of a gang anymore. Devel p"j

trepreneurs that you see regularly a allow you to vent your anger a

ime to do something you enjoy at least a few times a week ge yourself!

14. Develop an excellent telephone manner and react quickly to any complaints or problems.

15. Confirm orders personally and immediately, especially those you receive on email.

16. Never lose sight of the big picture - look for innovative, little-explored directions in which to take your business. Always look for new avenues.

17. When you find someone cleverer than you, employ them!

18. Ask advice from people who know, for example, other en preneurs and reputable small business gurus.

19. Don't enter a business or a venture that yo about. You'll be running to catch up for the re life.

20. Have an existing, loyal custom

21. Be aware that you will

quickly, so ensure you a vered fin .

of the second year.

k at it until it's achieved

get things done when you are first oney and resources will come togerher oals and begun to work at them.

lented. Wait. Did you realize that you missed tip eing careful helps.

Make quality in every aspect of your business your primary focus and aim. If it isn't, you will eventually go out of business. Quality matters.

27. Use the Internet. Use email. Build a website, send out email newsletters, engage with your existing and prospective customers on social networks and optimize your website for major search engmes.

28. Align goals with market conditions. This is necessary because the changes in market conditions are dynamic and often too quick. Realigning goals will definitely help you understand your position in the field.

29. Delegate. You might have to hire a good PA, lawyer, or marketing professional to ensure you'll be profitable in the future.

30. Be confident. Believe in yourself and the idea. Don't fear the failure. It is always the idea that fails, not the person. To get over it and come up with a better idea with more enthusiasm is what an Entrepreneur is.

Entrepreneur

I

I~O deliver Everything, Everywhere, Everytime for Every Indian Consumer in the most profitable manner." goes the much accomplished vision of the Future Group. Simple, straight and smart truly portraying the core in sync with the dynamism of The MD & CEO Mr. Kishore Biyani - 'The King of Retail'. What makes the vision much accomplished is that in the recent times, the company is not just spotting trends it is rather setting trends at a scorching pace, posting satisfactory results is just not enough, it is continuously writing a success story of its own by not only operating efficiently in the retail market but, evolving it BIG time.

Today, Pantaloon is poised to don a new look with a new corporate identity. From the 'Knowledge Group/ it is now known as 'Future Group' with a new logo (a human palm print) with the message 'India tomorrow,' Is presently, in to the various lines of businesses - fashion and footwear, food, general merchandise, leisure & entertainment and home - the company operates multiple delivery formats: the fashion store format under the Pantaloons brand; the showcase seamless mall under the Central brand; the hypermarket discount store format under the Big Bazaar brand; the food & grocery retail format under the Food Bazaar brand. and apparel stores under Fashion Station. The Com,panyplans entry in telecommunicationsretail and other lines of businesses such as we 11- ness and beauty as well as books and music, besides pantalooning a portal for e-retailing in the near future as another delivery format.

KB was born in the middle class trading family. started his career selling stone wash fabric to small shops in Mumbai. Initially a trader, a failed film maker, a dance festival organiser later turned out to be 'King of RetaW with the historic journey pivoting in 1987, when he collected Rs 7 lakh and set up a small plant that produced 200 trousers a day.

On his way from being an iconoclast to being a leader in the pre-defined game of bulls and bears he always wanted big, dreamed big and played even bigger to

of

The

Month

Name: Pantaloon Retail (India) Limited

Age: 48 yrs

Venture: Future Group

Networth: $ 645 million

create a success story, always based on his firm beliefs. In the crowded market of ready-mades, Biyani learned his first lesson - to be heard, you need to shout louder than the rest. As a result, though the turnover for his Bare brand was only Rs 7 lakh in the first year, he spent Rs 16 lakh advertising it.

The shift from manufacturing to retail was the critical point in Biyani's career. Distribution costs were the reason brands were snuffed out in the market, so Biyani decided to rewrite the rules of the game. In 1993, he experimented with a small store format, and Pantaloon Shoppe was launched in Panjim, Goa "where he could make mistakes without anyone noticing them". And then

from the Shoppe to the large store format in 1998 - this

time in Kolkata and in no time Kolkata Pantaloon store became a raging success and Biyani stepped on to the turf

as a super retailer. The year 2004-05 has been eventful

for Pantaloon Retail as it crossed the Rs I,OOO-crore target.

.. '

, Pantaloon

Retail (India) Limited

8 7uturegroup" v8ntuTl~

Seems KB took Pepsi's 'yeh dil maange more' campaign a little too emotionally is now moving down the population pyramid, he now intends tackling the lower socioeconomic strata with his micro-financing schemes to help the masses buy from his stores. He believes that consumption is development and intends spreading his operations to value seekers and to consumers beyond the lifestyle retail chain. According to Biyani, "Retail is about facilitating consumption and consumption equals development." "We believe that in the times to come, Pantaloon will play an active role in the social and economic development of the country. By creating avenues, formats, brands and spaces, we are raising aspirations, inducing consumption, creating public property and generating employment opportunities - all pointers to a

strong, buoyant and emerging India." •

His Big Bazaar concept of a discount hypermarket store was a rnjlestoae for the company, a:ftet which it introduced Food Bazaar. As Biyani says, "Big Bazaar changed the contours of the company since it touched the Indian masses. While the format was successful in the metros, Pantaloon decided to become bold and took its value and discount model to Tier 2 and Tier 3 cities such as Nasik, Nagpur, Bhubaneswar, Durgapur and Sangli. Currently, half of the Big Bazaar format constitutes apparel retailing and the ba'lance is divided between household goods and food and groceries.

The reason food and groceries were included were footfalls. "Once a customer visited Food Bazaar, she was tempted to also have a look at the discounted general merchandise and fashion sections," says Biyani.

Unlike mostpeople,Kishore Biyani makes no bones about his simplicity.. He is a strict vegetarian, and is currently off cheese and fried foods. You'll never catch him in a tie and jacket. He isn't a stickler for large cars, and has just graduated from driving a Honda City to a Honda Accord, though he's just as content driving around in a junior manager's Maruti 800 as well. A retailer by karma and a nationalist by dharma, Managing Director of Pantaloon Retail (India) limited, Kishore Biyani prides in being Indian and advocates Iindian-ness' as the core value driving his company. He also stresses on the importance on continuous "lntrospection" and is a firm believer in learning, unlearning and re-Iearning all the time. His passion is 'observing) and he enjoys watching Hindi drama and cinema. He is a compulsive reader

Incidentally his modesty is only restricted to his personal s,pheres. At business {The King of Retail' is forever ready to hit his rivals, where it hurts the most.KB's objective is to capture every single Indian rupee in the wallet of every Indian consumer, wherever they are- a businessman living south Delhi, a techie in Bangalore or a farmer in Bengal. From building shopping mans, developing consumer brands to selling insurance, gradually but not slowly he is getting into every business where a costumer spends his money.

I believe; Kishore Biyani is a true epitome not only because he defines and keeps on re-defining the Indian retail, but. because to a younger generation of ours he gives courage to aspire and a tremendous belief that we can create and change things which no one ever dared thinking. He is a, true inspiration for us, to EMBARK!!

This article has been submitted by Raunaq Dubey, student of Department of Management Sciences, University of Pune (PUMBA)

Credits and Acknowledqements

Any contributions, recommendations and suggestions should be mailed at edcellpumba@ymail.com

Please mention your personal details and contact information while making contributions.

EMBARK can also be viewed at http//www.pumba.in/ EMBARK is the in-house Magazine of the Department of Management Sciences [PUMBAJ,. University of Pune

ED Cell Members

Faculty Co-ordinator I Prof. Rajesh Pahurkar

Co-ordinator I Sujay Somani

Assistant Co-ordinator I Ashish Pawar

Finance Co-ordinator I Girish Jaiswal

NEN Co-ordinator I V V R Lakshmi

External Affairs Co-nrclnator- I Vaibhav Sancheti

Creative Head I Saad Ahmed Shaikh

Creative Team I Abhijit Shinde, Nikita Mhatre, Tushar Shirsath, Abhishek Kumar

Disclaimer: The views and opinions expressed herein are those of the contributors and in no way reflect the sentiments of PUMBA EO Cell or of Department of Management Sciences, University of Pune. Any information or advice set out in the Magazine should be verified before it is put to use by any person. The PUMBA ED Cell or Department of Management Sciences, University of Pune, shafl not be responsible for the actions or consequences thereof

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