The Impact Of Inventions On The Printing Industry.

Copyright 2006 Smarket Limited

Printing is not something one may think of often, but it does impact our lives everyday. From the morning newspaper to church on Sundays, printing is important to our society. Without printing we wouldnt have books, papers, magazines or many other information tools. To truly understand printing one must look at the machines, processes and technology that has shaped its history.

The construction of machines have taken printing from hand cranked to high power. The first papermaking machine which developed rolls of paper was made in London in 1803. In 1846 Richard March Hoe made a rotary press that arranged printing plates on a cylinder, pressing them onto the paper. In 1866 a machine was invented for the purpose of folding newspapers. In 1884 the typesetting machine, invented by Ottmar Mergenthaler in Baltamore, made printing easy. All of these inventions started methods that are still used today.

The introduction of certain processes also helped to revolutionize the printing industry. Steam power first came to be used in printing in 1810. This replaced the old hand operations of the past, making the whole process faster. In 1798, Alois Senefelder invented the process of Lithography. It involved ink applied to a plate and then transferred to a roller that then rolled the images onto paper. This was the basis for processes still used today.

Technology has impacted every industry, but perhaps has really improved the printing industry. The introduction of computers make setting up type and tone much easier. Laser printing and digital printing have sent the process to new heights, allowing printers to do more than ever. High definition abilities make todays printed material of the highest quality ever seen.

With the combination of new advances in machinery, processes and technology the printing industry has grown and changed. It is an important part of daily life and with its evolution through history has become even better.

Fiberglass Fan For Chemical Industry

CB Blower fans can be supplied to be gas tight and made of special materials to resist corrosion. Fans and turbo blowers are supplied to provide air for carbon black plants and for sulphuric acid plants.

Chemicals industry provides the widest range of challenges for rotating equipment. CB Blower Co. fans and blowers operate in conditions encompassing extreme pressure and temperature, and handle a wide range of gases containing aggressive and toxic components. Demanding specifications and strict safety requirements must be met and above all is the need for dependable operation over long periods.

CB Blower Co. fans meet the challenge of moving gases continually, reliably, efficiently and safely. They are built to API, or equivalent industry standards and their performance has been proven over many years of operation; and the blowers can meet unusual requirements that include dual drive systems with automatic drive engagement / disengagement and special materials of construction.

CB Blower Co. fans and pressure blowers are found in all major process plants. The range of applications is very wide but includes:

custom engineered centrifugal process fans for combustion air supply. These may be used directly for fired heaters for ethane or naphtha cracking plant and for processes with steam reforming such as methanol, or for boilers serving general utilities. Flue gas extraction and tail gas clean up are among the other applications for which we have supplied custom fans.
auxiliary boiler and other pre-engineered fans.
cooling fans for mechanical draught cooling towers, air-cooled heat exchangers and air-cooled condensers.
turbo blowers for sulphur recovery combustion and reaction air, sulphuric acid and carbon black plant
screw type pressure blower systems for process gas handling, notably for butadiene plants, gas turbine gas fuel compression and process refrigeration.
reciprocating turbo blowers for hydrogen processes – hydrocracking, visbreaking, catalytic reforming

The demands placed on equipment in the chemical industry are particularly high. Toxic, corrosive and unstable gases are frequently a part of chemical production processes. Maintaining the purity of gases being handled is a priority in the pharmaceutical and biological industries. CB Blower Co. supply a range of fan / blower types to the chemical industry, from fans for boiler and incineration plants that supply heat and process steam, to fans that are used on exhaust and emissions control systems to equipment that handles the materials being processed. In such a diverse industry the range of applications is very wide but there is often the need for special materials to prevent corrosion by gases such as wet hydrogen chloride and hydrogen sulphide. The blowers are adapted to meet these special needs.

For additional information please refer to http://www.cbblower.com/coolair.html

Oleg Chechel
Ventilation Equipment Designer
CB Blower Co.

http://www.cbblower.com/custserv.html
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The Honcho of the Indian Sweets and Snacks Industry

Food is the very essence of survival. It is not only the whole meals that have gained popularity but also veg snacks items, chaat, sweets, namkeen, etc. that are equally savored. There are a very few Indian brands that are renowned not only in the Indian market but also overseas; worth mentioning is Bikanervala. The honcho in the Indian sweets and snacks industry is obviously the century plus old Bikanervala. Ask any foodie freak about Bikanervala and pat would come the reply in the positive with a mention of food items in the Bikanervala menu such as veg snacks, chaat, namkeen, sweets, etc.

Here is a list of the food items included in the Bikanervala menu: Sweets: Premium sweets, traditional sweets, khoya sweets, Bengali sweets; few of these include rasgulla, ghewar, malai chap, rasmalai, kalakand, petha, pakija, laddoo, barfi, shrikhand, etc. Namkeens: Aloo bhujia, peanuts, badam lacha, bikaneri bhujia, chana masala, cornflakes mixture, dal moth, ganthiya, kaju mixture, etc. Chaat: Bhalla papri, lachha tokri, pani puri, bhel puri, matar kulcha, dahi bhalla, aloo tikki, kachori with sabji, paneer tikka, raj kachori, papri chaat, etc. Veg Snacks: Chole bhature, paneer pakoda, samosa, kachori, matar kachori, dhokla, sandwich dhokla, pav bhaji, etc. North Indian Cuisine: Shahi paneer, chana masala, seasonal vegetables, dal makhani, rajma masala, special rice, eco meals, onion kulcha, paneer nan, butter nan, etc. South Indian Cuisine: Plain dosa, masala dosa, onion rawa masala, rawa plain dosa, rawa masala dosa, uttapam, vada sambhar, sambhar idli, etc. Chinese Food: Tomato soup, veg chowmein, veg coupsey, sweet corn soup, veg fried rice, spring roll, veg manchurian, talumein soup, paneer chilly, etc.

Other food items in the Bikanervala menu include continental food, beverages & shakes, and bakery items.

Bikanervala provides latest information on food in india, sweets,indian sweets, pani puri, namkeen, south indian food, sweets shop, vegetarian snacks, bengali sweets, sweets online and about all Bikanervala Sweets, Bikano, Bikano Chat Cafe products and bikanervala menu.

An Alternative To Venture Capital In The Food And Beverage Industry

If you are an entrepreneur with a small food or beverage company looking to take it to the next level, this article should be of particular interest to you. Your natural inclination may be to seek venture capital or private equity to fund your growth, but that might not be the best path for you to take. We have created a hybrid M&A model designed to bring the appropriate capital resources to you entrepreneurs. It allows the entrepreneur to bring in smart money and to maintain control.

We have taken the experiences of a beverage industry veteran, a food industry veteran and an investment banker and crafted a model that both large industry players and the small business owners are embracing.

I recently connected with two old college mates from the Wharton Business School. We are in what we like to call, the early autumn of our careers after pursuing quite different paths initially. John Blackington is a partner in Growth Partners, a consulting firm that advises food and beverage companies in all aspects of product introduction and market growth. You might say that it has been his life’s work with his initial introduction to the industry as a Coke Route driver during his college summer breaks.

After graduation, Coke hired John as a management trainee in the sales and marketing discipline. John grew his career at Coke and over the next 25 years held various positions in sales, marketing, and business development. John’s entrepreneurial spirit prevailed and he left Coke to consult with early stage food and beverage companies on new product introductions and strategic partnerships.

Steve Hasselbeck is now a food industry consultant after spending 27 years with the various companies that were rolled up into ConAgra. His experience was in managing products and channels. Steve is familiar with almost every functional area within a large food company. He has seen the introduction and the failed introduction of many food industry products.

John’s experience at Coke and Steve’s experience at ConAgra led them to the conclusion that new product introductions were most efficiently and cost effectively the purview of the smaller, nimble, low overhead company and not the food and beverage giants.

Dave Kauppi is now the president of MidMarket Capital, a M&A firm specializing in smaller technology based companies. Dave got the high tech bug early in his business life and pursued a career in high tech sales and marketing. Dave sold or managed in computer services, hardware, software, datacom, computer leasing and of course, a Dot Com. After several experiences of rapid accent followed by an even more rapid decent as technologies and markets changed, Dave decided to pursue an investment banking practice to help technology companies.

Dave, John, and Steve stayed in touch over the years and would share business ideas. In a recent discussion, John was describing the dynamics he saw with new product introductions in the food and beverage industry. He observed that most of the blockbuster products were the result of an entrepreneurial effort from an early stage company bootstrapping its growth in a very cost conscious lean environment.

The big companies, with all their seeming advantages experienced a high failure rate in new product introductions and the losses resulting from this art of capturing the fickle consumer were substantial. When we contacted Steve, he confirmed that this was also his experience. Don’t get us wrong. There were hundreds of failures from the start-ups as well. However, the failure for the edgy little start-up resulted in losses in the $1 – $5 million range. The same result from an industry giant was often in the $100 million to $250 million range.

For every Hansen Natural or Red Bull, there are literally hundreds of companies that either flame out or never reach a critical mass beyond a loyal local market. It seems like the mentality of these smaller business owners is, using the example of the popular TV show, Deal or No Deal, to hold out for the $1 million briefcase. What about that logical contestant that objectively weighs the facts and the odds and cashes out for $280,000?

As we discussed the dynamics of this market, we were drawn to a merger and acquisition model commonly used in the technology industry that we felt could also be applied to the food and beverage industry. Cisco Systems, the giant networking company, is a serial acquirer of companies. They do a tremendous amount of R&D and organic product development. They recognize, however, that they cannot possibly capture all the new developments in this rapidly changing field through internal development alone.

Cisco seeks out investments in promising, small, technology companies and this approach has been a key element in their market dominance. They bring what we refer to as smart money to the high tech entrepreneur. They purchase a minority stake in the early stage company with a call option on acquiring the remainder at a later date with an agreed-upon valuation multiple. This structure is a brilliantly elegant method to dramatically enhance the risk reward profile of new product introduction. Here is why:

For the Entrepreneur: (Just substitute in your food or beverage industry giant’s name that is in your category for Cisco below)

1.The involvement of Cisco – resources, market presence, brand, distribution capability is a self fulfilling prophecy to your product’s success.

2.For the same level of dilution that an entrepreneur would get from a VC, angel investor or private equity group, the entrepreneur gets the performance leverage of smart money. See #1.

3.The entrepreneur gets to grow his business with Cisco’s support at a far more rapid pace than he could alone. He is more likely to establish the critical mass needed for market leadership within his industry’s brief window of opportunity.

4.He gets an exit strategy with an established valuation metric while the buyer helps him make his exit much more lucrative.

5.As an old Wharton professor used to ask, What would you rather have, all of a grape or part of a watermelon? That sums it up pretty well. The involvement of Cisco gives the product a much better probability of growing significantly. The entrepreneur will own a meaningful portion of a far bigger asset.

For the Large Company Investor:

1.Create access to a large funnel of developing technology and products.

2.Creates a very nimble, market sensitive, product development or R&D arm.

3.Minor resource allocation to the autonomous operator during his skunk works market proving development stage.

4.Diversify their product development portfolio – because this approach provides for a relatively small investment in a greater number of opportunities fueled by the entrepreneurial spirit, they greatly improve the probability of creating a winner.

5.By investing early and getting an equity position in a small company and favorable valuation metrics on the call option, they pay a fraction of the market price to what they would have to pay if they acquired the company once the product had proven successful.

Dean Foods utilized this model successfully with their investment in White Wave, the producer of the market leading Silk Brand of organic Soy milk products. Dean Foods acquired a 25% equity stake in White Wave in 1999 for $4 million. While allowing this entrepreneurial firm to operate autonomously, they backed them with leverage and a modest level of capital resources. Sales exploded and Dean exercised their call option on the remaining 75% equity in White Way in 2004 for $224 million. Sales for White Way were projected to hit $420 million in 2005.

Given today’s valuation metrics for a company with White Way’s growth rate and profitability, their market cap is about $1.26 Billion, or 3 times trailing 12 months revenue. Dean invested $5million initially, gave them access to their leverage, and exercised their call option for $224 million. Their effective acquisition price totaling $229 million represents an 82% discount to White Wave’s 2005 market cap.

Dean Foods is reaping additional benefits. This acquisition was the catalyst for several additional investments in the specialty/gourmet end of the milk industry. These acquisitions have transformed Dean Foods from a low margin milk producer into a Wall Street standout with a growing stable of high margin, high growth brands.

Dean’s profits have tripled in four years and the stock price has doubled since 2000, far outpacing the food industry average. This success has triggered the aggressive introduction of new products and new channels of distribution. Not bad for a $5 million bet on a new product in 1999. Wait, let’s not forget about our entrepreneur. His total proceeds of $229 million are a fantastic 5- year result for a little company with 1999 sales of under $20 million.

MidMarket Capital has created this model combining the food and beverage industry experience with the investment banking experience to structure these successful transactions. MMC can either represent the small entrepreneurial firm looking for the smart money investment with the appropriate growth partner or the large industry player looking to enhance their new product strategy with this creative approach.

This model has successfully served the technology industry through periods of outstanding growth and market value creation. Many of the same dynamics are present in the food and beverage industry and these same transaction stru7ctures can be similarly employed to create value.

CRM IN BANKING INDUSTRY

Prof. Satya Sidhartha Panda Bangalore (India) E-mail: /

Abstract

This paper attempts to persuade the banking industry to recognize and Increasing sophisticated approaches and techniques to customer relations, value proposition development and life time value calculation will help companies better in understanding how value should be created for customers and the enterprise. E-business refers to any electronic means of collaboration or coordination between organizations. In simple terms, e-Business is the use of Information Technology to exchange information and conduct transactions among enterprises and individuals, both business to business (b2b) and business to consumer (b2c). With the availability of more affordable e-Business software and service offerings in the market, many enterprises in India are likely to embrace these applications in the near future. When people ask, -What do you mean by CRM?- the literal answer is, -Customer Relationship Management,- but that doesn’t really convey much in terms of what all CRM does for a business. This CRM definition is too narrow to really explain everything the system does if it is working to its fullest potential and is user-friendly enough to expand and grow as a customer-client relationship changes and grows.

CRM is a business philosophy, a bent of mind that aims at understanding and managing the needs of the customers. A successful CRM implementation will enable the marketing people to make quick, informed and intelligent decisions, create cross selling and up selling opportunities, measuring marketing effectiveness in value creation and deliver personalized customer care. The key here is to adopt a truly Customer-Centric approach that touches every point and more importantly every person in the company. Everyone in the company must live and breathe customer focus for CRM to work. Key words : CRM, Value Proposition, Customer Care, Implementation.

INTRODUCTION: Satisfaction drives the engines for business to invest and reap benefits. Satisfaction makes companies to consider their customers as catalyst, towards their growth and prosperity. Most of all satisfaction brings life and business much closer towards moments of worthiness of the time spent. CRM has already made a big impact in the world of customer service and will continue to do so. As more and more companies become customer-centric those that fail to do so will lose competitive advantage. The real value of CRM lies in harnessing the potential of people to create a greater customer experience, using technology of CRM as the enabler. Value creation process is a critical component of CRM as it translates business and customer strategies into specific statements of what value is to be delivered to customers and, consequently, what value is to be delivered to the supplier organisation. The value management process is crucial to transforming the outputs of the strategy development process in CRM into programmes that both extract and deliver value. Only a balanced value exchange will ensure that both parties enjoy a good return on investment, leading to a good long term, profitable relationship. Achieving an ideal equilibrium between giving value to customers and getting value from customers is a crucial component of CRM. Increasing sophisticated approaches and techniques to customer segmentation, value proposition development and life time value calculation will help companies better in understanding how value should be created for customers and the enterprise.

CRM in the broader sense encompasses not only customer relationship management itself but how customer relationship management is handled and the most important elements of a CRM program that are essential to its being successful. The range of CRM software options vary from those that provide simple customer tracking and live chat capabilities to the more complex CRM solutions that can integrate all of the customer relationship data an enterprise has on each client past, present and future in a dynamic information data network. With the advent of better computing and communications technology, the marketplace is loosing all boundaries and country specificities. Limited sources of growth and higher prospect of maturity in local markets mean that companies are increasingly facing the need to operate, compete, and communicate on a global level by sharing knowledge about different cultures, environments, technologies, and customers. Mergers and acquisitions have forced companies to synchronize the existing systems with their new products and features by adopting standard business solutions. Therefore, new products and services are rapidly taking on new global perspectives. E-business applications such as ERP, SCM, CRM, or e-commerce are looked upon as strategic tools for major business improvements, enable the breaking down of boundaries-departmental and geographical. The inherent flexibility of these applications is being leveraged by global companies to implement their global strategies and local tactics by making minor changes in the enterprise solution. Over the past two to three years, e-Business applications such as ERP, SCM, and CRM have witnessed lot of transition globally. Enhanced functionalities and vertical centric solutions have evolved providing companies solutions that cater to their needs even better than in the past. Vendors have even tailor made the solutions to suit not only different business verticals but also business sizes.

Fig. 1. Best-fit sectors for CRM practices and packages

Note: Figure Source from Icicle Consultancy, Mumbai, INDIA

Senior vice president Girish G Vaidya who heads the Banking Business Unit (BBU) at Infosys Technologies says, -In order to provide an end-to-end solution for banks, banking product vendors should have three products-core banking, vertical-specific CRM and risk management software.- Though banks, telcos, and software houses use traditional CRM products, the basic CRM model has problems like not satisfying the vertical requirement, which comes up in the second phase. The vertical CRM provides a 360-degree view of the customer. The Infosys Finacle CRM product is being used by the National Commercial Bank of Jamaica. The bank is using all of Infy’s products, including the recently introduced CRM product. Infy has been successful in India too, bagging Unit Trust of India (UTI) as its first Indian customer for Finacle CRM. Infosys is positioning itself as the only vendor that satisfies two of the three requirements of banks, by offering core banking and four specialised products. Infosys recently bought technology from Trivium and created Finacle CRM, a banking-specific CRM product. Vaidya says, -Infy does not have a product for risk management for treasuries but we have alliances to fill up the gap. However, there is a big opportunity in services such as assets liability management and trading risk management.- Business Situation : Keeping in mind the growing financial and banking business ,the company wanted to provide adequate customer services and reporting capabilities .It wanted a powerful,offordable and scalable customer relationship Management Solutions . Benefits : Flexible and customizable soluations Increases Business opportunities Secures customer information Improves Business management Simplifies development The CRM soluation provided basic insights into following common modules and functionalities developed by Religare technnova specifically for capital market / brokerage : Lead management Contact management Channel partner management Campaign Reporting automation /compliance reporting automation The company found that the Dynamics CRM 4.0 Platform provided the perfect frame wok on which it could build such a comprehensive and customized CRM Solution , because Dynamics CRM is built on a sophisticated line -of-business application platform; It provides the basic required services upon accountable for new leads and manage the process through entire customer management life cycle .

Secures Customer Information : As the Bank handles a large number of financial translations ,security of data is absolutely essential .For each department, different segments are created so that, only that segments can access the data .A concerted effort was made to import logic as well.Such as end-to-end metadata relationships and improved workflow, have helped the company to streamline business operations and provide an integrated view and functionality to its employees across the country .

A. From the point of view of Business Firms: How business firms perceive CRM, What gadgets are used by the business firms to create CRM How do business firms create value in their offers How business firms assess the effectiveness of CRM Programmes Role of electronic devices in managing customer relations and value chain Problems faced by business firms in managing customer relations and value chain The future of CRM and Value Chain B. From the point of View of Customers: How do customers perceive CRM How do customers perceive Value Customer satisfaction with regard to CRM and Value Customer Behavior towards firms offering high value versus low value Customer loyalty and CRM Customer irritation with CRM Programmes Customers problems and CRM Customer compatibility and convenience with eCRM Expectations of customers for CRM and Value Chain Management Customer rating of various firms on CRM and Value Creation C . From the point of other parties: Role of government in CRM and Value Chain Management Role of Social and Consumer Organisations in CRM and Value Chain Management Availability of necessary infrastructure for CRM CRM Software Multinational Corporations and CRM CRM and Value Chain Management in Globalised World International Legislation and CRM The overall end-user understanding of e-Business applications and its capabilities in the Indian enterprises is very low. Strategic steps are being taken by enterprises to educate the market, but it is a long time still before majority of the end-users attain certain minimum understanding of e-Business applications and its benefits.Low awareness can be tackled by educating the end users, but what compounds the problem is faster spread of failure stories. Fallacy of faster communications medium has affected technology products the most as low educated end users fall prey of these non-successful stories Service is becoming the key to differentiation and this is driving corporates to adopt CRM solutions. Vendors, both domestic and international, are making their presence felt in the Indian sub-continent either directly or through multiple partners. Given the high churn rate in the telecom sector, an increased demand for CRM solutions is witnessed in this sector. Some of the prominent telecom players in the Indian market that have gone in for these solutions are Bharti, BPL, and Orange. Retail sector is also showing strong demand for CRM solutions.There has been slow uptake in the demand for c-commerce solutions in the Indian market. Most of the organizations are still evaluating the efficacy of other e-Business applications such as ERP, SCM, and CRM before going in for these relatively new generation applications. An interesting point to take into consideration is that product development management (PDM) solution and product lifecycle management (PLC) solutions are gaining acceptance in the Indian market. In order to ensure successful implementation of e-Business applications, some of the key issues that needs to be taken into consideration are: The first and foremost pre-requisite is that the enterprise should have a very strong business focus and genuine need for the solution. The consulting partners should have adequate experience in handling projects of a diverse nature. In order to gain end-user confidence, successful stories and case studies needs to be showcased by the vendors. Setting the user expectations right in the first instance Conducting a detailed business and functional requirement analysis Conclusion : The demand for ERP solutions in India is likely to be driven by both the large organizations and SMEs. However, the awareness level and application adoption rate is relatively high amongst the large enterprises as compared to the SMEs. An interesting point to note here is that majority of the top tier companies (organizations with annual revenues in excess of $500 million) in the country have already gone in for ERP implementation. Thus, the real potential lies in the SME segment, which offers tremendous opportunity for the ERP vendors operating in the country. Banking and finance clearly are the better exponents of e-Business applications and have made the best use of enterprise applications in rolling out the e-strategies. Technology has played a key role in this industry, although a large amount of public sector banks in India still are in the early phase of e-Business application adoption, the leaders in this sector are as technology savvy, as in any other industry. Private sector banks are typically using technology and better customer services to match the heavy penetration of public sector banks. As a result, CRM and core banking applications have penetrated private banks more than the public sector banks for -Customer relations-, their -satisfaction- and right way to manage the expectation of your existing and new Customer. I am confident that banks and other financial institutions will meet these challenges head on, continue to find new and better ways to put technology to their and their customers’ best use, and that they will manage the technology and business risks associated with these investments.