Thought Leadership

SPJIMR’s FMB Alumni organized a webinar on “Talking entrepreneurship with India’s young entrepreneurs.” Mr. Abhishek Bachchan was the guest speaker for the event.

The candid conversation revolved around the joys and pains of being an integral part of a family managed business, pressures to carry on the legacy of the business, knowing your own self & your capabilities, strength that comes from the family, having your priorities in place and much more. There was also an interesting aspect on the fact how one perceives happiness and the balance between happiness and success. Importance of being focused, ambitious but humble at the same time. Humility as a value goes a long way.

The same was live streamed on you tube https://www.youtube.com/watch?v=l1G6WiQtRGY.

SPJIMR’s FMB Alumni board - Mumbai chapter organized a #webinar on “New wage code & its impact on business”. The speaker- Dr. Shrikant Malegaonkar is a specialist in Labour Laws and Industrial Relations & is practicing Advocate at Pune Labour / Industrial Courts and at the Bombay High Court, for the past 28 years.

The speaker mainly focused on the changes brought about in the new wage code ;like the definition of employee that has widened now. Details on wages floor rate, payment of bonus, details on the components of basic wages, and its implications on higher payment of PF, ESIC, maternity benefits, gratuity, bonus, leave and salary.

He also went ahead to explain that the gratuity payment will be applicable on a pro rata basis after 1 year of completed service. Adding that the payment of wages need to be made on time including that of contractual workers. Also, there will be a provision of flexible working hours now.

PGP-FMB hosted a webinar on " E-invoicing: Digitizing Your Business". The speaker was Ms. Vaishali Dedhia, GM (Product Head), IRISGST. The discussion was moderated by Prof. Farzan Ghadially, Head Investment Family Office, CCC Advisors Pvt. Ltd.

The speaker began by introducing E-invoicing which is now a mandate in India, mentioning participants and data fields for e-invoicing. She provided the highlights of important data validations added by the government.

She explained the process flow of e-invoicing and the rules that need to be followed, and also covered important relevant issues like turnover definition, B2C Invoices, Scope of B2C Transactions, etc. She also outlined the EWB process integration and cancellation.

Further, she discussed the specifics of E-invoicing and Auto population in GSTRI for return filing, and spoke about the GST compliance landscape with e-invoicing. She focused on the conditions for EWB generation, IRN and EWB cancellation, and generating GSTR-1 from e-invoicing.

She went on to give insights on the impact of e-invoicing on the purchase cycle, listing the matters one should take care of while booking purchases in ER.

The webinar was followed by Q&A session.

PGP-FMB hosted a webinar on “How to Achieve Life Changing and Sustainable Portfolio Goals”. The speaker was Mr. Neil Bahal, Founder and Fund Manager, Negen Capital Services Pvt. Ltd. Mr. Bahal spoke about the “zoomed-in” view of the market. He said this view is full of panic, bad decisions, bad advice, confusion etc. But, he asserted, we should always think in a “zoomed-out”way. Markets are designed to go up in the long run, but may take time. He said we need to get over the feeling that market investment is gambling and is operator driven. India has a long way ahead, and we can have a positive attitude.

He advised the audience to think big and not believe in “Doomsayers”, the pessimists. According to him, the rules of engagement are: Commit to spend long hours working on stock research, or else it is best to invest via ETFs or investment managers. Life changing new-age companies are lining up to be listed on Indian markets, which will attract investors from all over the world.

He also explained why FMBs are best suited to win big in equity investing. Family managed businesses have regular cash flow like the big successful investors. All they need to do is adopt a fresh mentality.

The webinar was followed by a Q&A session.

SPJIMR’s FMB organized webinar on “Action Plan for Reviving Profitability and Increasing Sales Post Pandemic”. The speaker was Mr. Ratish Pandey, Business Coach, Ethique Advisory, and Ex Head, Bose IMEA.

The speaker focused on business recovery post pandemic, reviewed the current economic situation and gave suggestions on how to get sales back.

Regarding business recovery and the current economic situation, he gave a positive view. According to him, the external factors driving current demand are: the festive period, a strong monsoon leading to higher agricultural outputs, and Government incentive schemes. Further, on the supply side, raw material prices are favourable. Most business people are optimistic about an economic recovery and business revival in a year’s time. Also, manufacturing index is trending upwards.

He suggested that in order to get ahead, businesses must lead the change, and focus on products, services, pricing, delivery, and staffing. It is essential to manage your human resources well. Companies must also aim to generate repeat business. Organizations need Foresight, Adaptability and Resilience. He explained “Five levers of sales and profitability improvement”. Also, for marketing, it is helpful to step into your customers’ shoes.

Further, he focused on entrepreneurs and said that entrepreneurship is about making ideas happen. He asked entrepreneurs to stay positive, not to panic and to look for small wins. He made several suggestions about what the entrepreneurs can focus on.

A Webinar on “Women in Family Business: CeOs or CEOs” was conducted today. The speakers were Ms. Pratima Kirloskar, President – Innovations (Society), Kirloskar Brothers Ltd., and Chairperson, CII Western Region Family Business Network Sub-Committee; and Ms. Nidhi Modi, Modi Group, Dealer for Hyundai, MG and Audi, Mumbai, Alumnus FMB 11. The discussion was moderated by Dr. Tulsi Jayakumar, Professor of Economics and Chairperson – FMB at SPJIMR.

To explain the title of the webinar – CeO stands for Chief Emotional Officer.

Ms. Nidhi Modi shared her experiences in her family business. She started by saying that it is not that women are not allowed in a family business. The world is moving forward now, and women can hold their own in business. They need to find their way ahead. It is quite common for women to feel guilty if they don’t give enough time to their family. She felt that women have brought this upon themselves, and often try to take on too much. Irrespective of the situation, a woman should have the determination to stretch her limits.

Regarding the question on role of women in male dominated sectors, Ms. Pratima Kirloskar said that today, women train themselves in many areas, and there is no sector in business in which there are no women. There is no such thing as a “man’s job” or “woman’s job”. Women can have the same mindset as men and vice versa. It all has to do with one’s education and interest. Women may not have had enough opportunities in the past, but now they do, and they are doing very well in their chosen fields. Being in a family business gives women the advantage of flexibility, and the confidence to try out what they want.

The speakers also asserted that women today are well educated, and can be as ruthless as men. They can raise money, and can break the concept of the “Old Boys’ Club”.

The speakers also outlined the internal constraints faced by women in family business and suggested how women can overcome them.

The Webinar was followed by an interactive QnA session.

A webinar on 'Women in Family Business' was conducted on 11^th September 2020. The speakers were Ms Shivani Kejriwal (Alumnus FMB 8, Business Strategy - Remsons Industries Ltd.), Ms Sabina Bhanpurawala (Alumnus FMB 11, CEO - Foam Home India Pvt. Ltd.), and Ms Bhumika Jain (Alumnus FMB 11, Director -UV&W Products Pvt. Ltd.). The discussion was moderated by Dr. Tulsi Jayakumar (Professor of Economics and Chairperson – FMB)
“Girls just wanna have fun,” it is said. But the speakers showed a different view. In a lively and enlightening session, all the speakers shared their life stories and insights about being in family business.
Ms. Shivani Kejriwal spoke about how she enjoys sports and outlined her journey in sports education.
Ms. Bhumika Jain described how the ladies in her family encouraged her to join the family business.
Ms. Sabina Bhanpurawala said that she had started understanding her family’s business since she was 13 and she was sure that she wanted to be part of it.
All the speakers asserted that support from the family is extremely important, besides having the capability. They shared their stories about the special moments they cherish the most while working in the family business, and highlighted the challenges they face as women in business.
They talked about the need of a mentor whom one can rely on and who will show the right direction, and mentioned the qualities the mentor should possess.
In conclusion, they discussed why it is important to have women in the business and how women bring energy and structure, ethics, culture, and streamlined processes to the business. Moreover, mothering skills and multitasking skills, as well as good financial skills, which they develop at home, give them a unique perspective on business.

SPJIMR’s FMB conducted a webinar on “Resilience through Difficult Times”. The speaker was Mr. Nikunj Bagdia (Director, KEN Enterprises Private Limited). The session was moderated by Dr. Tulsi Jayakumar (Professor of Economics and Chairperson – FMB)
The speaker focused on what resilience means for him. He said pandemic was a time for him to rethink what their organization is doing and how they can do better. He said he took just 2-4 days to bounce back to his business.

The top management was given training from the beginning, so that they could continue interacting with customers, and thus they gained their confidence. Mr. Bagdia emphasized the role of the family throughout this pandemic.
His advice to youngsters during this time is - Relook at your skillset and business model, and make the changes required for success.
The webinar was followed by a question and answer session.

​SPJIMR Centre for Family Managed Business and Centre for Financial Studies organized a webinar on ‘MSMEs: Breaking out of the Chakravyuh’.
The webinar was hosted by Mr. Mohan Natarajan (MD & India Head of Avista Advisory). The Panel Members were Dr. Nirvikar Singh (Distinguished Professor of Economics, University of California at Santa Cruz), Mr. Varadhan T R (MD Mascot Systems Pvt. Ltd.) and Mr. Manish Jaiswal (MD and CEO, Magma Housing Finance and SME Business). Dr. Tulsi Jayakumar, Professor of Economics and Chairperson – FMB was the moderator.
Mr. Natarajan opened the discussion by stating that MSMEs face a Chakravyuh of daily challenges, including problems with customers, government compliances, etc., and often do not know how to come out of this maze of problems.
Dr. Jayakumar, pointed out that MSMEs are very important in India as they contribute 29.7% of the GDP, are prolific providers of employment (e.g., they provided 11.1 crore jobs in 2015-16), and they generate 50% of the country’s exports. In fact, 99% of businesses in India are MSMEs. She also explained that they face multiple layers of challenges like Liquidity, Asset Quality, Lack of proper record keeping and accounts, and many more.
Dr. Nirvikar Singh spoke about the macro implication of the challenges that SMEs face, the major ones being Finance and cost of doing business. He suggested that small and mid-size firms should get support to grow into large firms. He mentioned that things are different in the USA as compared to India and made some suggestions on how the government should help Indian MSMEs in this scenario. The panelist highlighted the industry-related challenges faced by MSMEs. They pointed out that to survive the Chakravyuh of the COVID lockdown, MSMEs would need to re-examine their markets and the demands for their products.

“Motivation and Vision" featuring the inspiring story of Shri Ramesh Agarwal (Chairman and Managing Worker of Agarwal Packers and Movers) talks about his inspiring journey from Airman to Chairman.

The speaker began with the remark, “Life is 10% how you make it and 90% how you take it.” He shared about his 6-year tenure in the Airforce to becoming a businessman & setting up Agarwal Packers and Movers Ltd. (AMPL).

He highlighted different initiatives taken by AMPL to prevent trans shipment damage to shipments, facilities provided to drivers as AMPL believes that drivers are the lifeline of the business, the passion for excellence in customer satisfaction & best business practices to resolve customers’ complaints and innovative practices in costing and optimum employee engagement.

The webinar by Rahul Sanghvi  (Executive Director- Sanghvi Group) and Saurabh Mehta (Executive Director-Kriti Group) focused on "Overcoming the Technology Barrier in FMBs". Mr. Rahul Sanghvi and Saurabh Mehta both are FMB 10 alumni. Dr. Tulsi Jayakumar, Chairperson FMB & Professor-Economics, moderated the session.

The speakers outlined how technology has changed, in fact there has been a revolution. They spoke about how technology has been adapted to provide value addition in their respective businesses. In FMBs, technology has helped to overcome various business crises during this pandemic. Technology helps in decision making, and increases productivity while minimizing cost. They also spoke about the myths about adoption of technology, and presented the realities.

Ms. Tanvi Ashar (Head Psychologist-Ananta Mind and Wellness) in conversation with Mr. Kapil Nevatia (Founder-Ananta Mind and Wellness, and an alumnus of FMB Batch 3) conducted a live webinar on “Understanding and Getting through Tough Times” which focused on understanding and treating depression. Ananta Mind and Wellness is a wellness company offering personalized solutions for managing daily stress and anxiety.

The speaker began by outlining the basic facts about depression, risk factors, causes, symptoms and their effects, recognizing the symptoms, explaining the difference between low mood and actual depression clearing some false belief about depression. She also presented some mental health illness statistics, the treatments available, and how we can help our loved ones to deal with depression.

Ms. Priti Rathi Gupta, (Founder – Lxme, and Managing Director – Anand Rathi Group), an alumnus of FMB 6 on “Creating a brand from scratch” in conversation with Dr. Tulsi Jayakumar, Chairperson, FMB & Professor- Economics.

Ms. Gupta, from the Anand Rathi family, spoke about creating her own brand Lxme, an investment platform just for women. Investing is considered complicated, risky, and a man’s forte. Breaking the industry codes, she created a brand that redefines money management for women.

She described various aspects of the Lxme journey and the decisions made along the way. The Highs were: starting with a blank canvas, and utilizing the experience and backup of the existing organization. The Challenges included creating a shift in mindset, attracting talent, creating the culture, structuring finance.

She ended the session with a quote by Richard Branson: “The brands that will thrive in the coming years are the once that have a purpose beyond profit”, and a quote from Anand Rathi “Values create valuation”.

SPJIMR’s FMB hosted a live panel discussion with Mr. Sumeet Kabra (Director-RR Global), Mr. Deepak Agarwal (Managing Director-Bikaji Foods International Ltd.) and Simarpreet Singh (Director-Hartek Group) moderated by Dr. Tulsi Jayakumar(Chairperson, FMB & Professor – Economics). The topic of discussion was ‘How to make your organization a great place to work’.

Our esteemed panellist discussed about the 4P matrix (People, Process, Priorities, Performance) and the biggest challenges that one can face to make the organization a great place to work.

Dr. Tulsi Jayakumar (Chairperson-FMB, Professor of Economics) conducted a live session on 'Understanding the economic challenges of a pandemic recession'. Dr. Tulsi addressed key topics like recession, phases of recession, trend growth rate and the importance of trend growth rate.

In addition to that, she also spoke about Financial and Real economy shock and how this pandemic will impact our GDP, inflation, government bond yields and credit ratings.

She tied it all together with 4 mantras for survival during this ambiguity, followed by an interactive Q&A session.

SPJIMR’s FMB hosted a live panel discussion with Mr. Damodar Mall (CEO, Grocery Retail, Reliance) and Mr. Kumar Rajagopalan (CEO, Retailers Association of India), moderated by Prof. Umesh Dhand (Faculty, SPJIMR) on the topic - ‘Facing Retail Realties Post COVID19’.

Our esteemed panellists spoke about how COVID-19 has affected the retail landscape, including the family-managed businesses operating in the sector, FMCG supply chain systems followed by an elaborate discussion on the different ways to tackle these issues.

With the suggestion that family businesses should try to leverage their strengths during these trying times, the webinar drew to a close.

Mr. Praveen Maratha (Supreme Court of India & Bombay High Court, Co-Founder - JSB & Partners) headed a live session on the topic “Employment Issues during the Pandemic.”

He spoke about the consequences of the lockdown on the economy, addressing issues like lay-offs, salary cuts & amendments in service conditions.

Mr. Ashvini Chopra (Senior Vice President at Bennett Coleman and Co. Ltd) hosted an engaging webinar on the topic “Separating Fat from the Meat, creating Moat around personal wealth”.

Mr. Chopra opened the session by defining ‘Fat’ for owners of family-managed businesses, followed by the concept of Moat, stages of wealth, estimating and protecting wealth fund, and several more key topics.

The webinar ends with a lively Q&A session, conducted by Mr. Chopra and Dr. Tulsi Jayakumar (Chairperson FMB, Professor -Economics).

Prof. Ananth Narayan conducted a webinar to address the topic ‘Economy Through COVID-19’.
He spoke about the economic conditions before, during, and after COVID-19, while also mentioning the affected sectors and the problems they have been facing.
While declaring that the GDP will recover over time, he advised businesses to buy goodwill and stay connected with people to power through.

The webinar drew to a close with a lively Q&A session addressed by Prof. Narayan and Dr. Tulsi Jayakumar (Chairperson - FMB, Professor of Economics).

Prof. Farzan Ghadially headed a live session on ‘Mantra for Family Businesses: Survive Then Thrive.’

He addressed key topics like the current recession in the economy, the consequent job loss, and other important factors that affect the SME sector.
In addition to that, he also spoke about the ways in which the SME sector can effectively counteract the current situation, summing it up with a key lesson: Survive 2020 to thrive in 2021 and 2022.