About The Marketing Buzz
The Marketing Buzz was set up to help UK small and medium sized businesses grow.
The Marketing Buzz was the brainchild of one of UK's Leading Marketing Experts, Mark Burdett. Mark was born in Northamptonshire and now resides in Newcastle upon Tyne. With over 18 years worth of marketing experience Mark has worked on highly successful campaigns for companies including Norwich Union, Zurich and Kia and has a proven track record of profitable marketing for businesses and companies of all types and size.
If you want to grow your business.......................you'll want The Marketing Buzz.
From help with advertising, article writing, branding, copywriting, direct mail, e-mail marketing, internet marketing, SEO, pay per click, banner advertising, directory advertising, market research, marketing planning and strategy, networking, public relations, sales, telemarketing, website design and yellow pages advertising to getting more business from your existing customers The Marketing Buzz can help.
Contact address
Calling: 01207 272100
Emailing: contactus@themarketingbuzz.co.uk
Writing to: The Marketing Buzz
11 Cricket Terrace
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Newcastle upon Tyne
Tyne & Wear
NE16 6QL
Website: http://www.themarketingbuzz.co.uk/
Showing posts with label Management-Consultant. Show all posts
Showing posts with label Management-Consultant. Show all posts
Tuesday, February 12, 2008
Sunday, January 27, 2008
Consultant for Business Growth - Nexus Partners
Nexus Partners worked with Merrill Lynch in the area of Business Growth
http://www.nexuspartners.com/
Nexus Partners has worked successfully with clients from startups to Global 50 companies, helping them strategically grow their companies and successfully execute new initiatives to meet their most critical goals. We have founded and run early stage companies, managed divisions of large corporations, and held executive positions at Fortune 50 companies. At Nexus Partners we use this experience to partner with our clients to help them to be successful.
http://www.nexuspartners.com/about/
Steve Adelman
Steve Adelman is the founding manager of Nexus Partners. He focuses on the development of business and corporate growth strategies for Nexus Partners' technology and financial services clients.
Steve has been a leader and an advisor to growing high technology and financial services companies for over twenty years. His expertise includes business and financial models, go-to-market strategies, partnerships, and strategic investments. Contact Steve
Advisory Responsibilities
Steve develops business and corporate growth strategies for clients, helping them define realistic business goals, create programs to achieve them and determine appropriate metrics to evaluate success. He helps clients create and execute their go-to-market efforts, strategic partnership programs, financial and technology investment strategies, and helps build and manage corporate teams to drive the new strategies to successful execution.
Experience Base
Steve’s current and past companies and clients include American Express, Hitachi, Merrill Lynch, Novell, Palm, Reuters, the U.S. Secret Service and numerous startups. Steve is currently an advisor to Mocana and JobFlash.
Steve is an adjunct professor in the Entrepreneurship Program in the School of Business and Management at the University of San Francisco.
In the non-profit sector, Steve is involved with the Cupertino Educational Endowment Foundation, is the leader of the Northwest YMCA Trailblazers a father and child organization, and is a Board Member of the Fairbrae Swim and Racquet Club.
http://www.nexuspartners.com/success/index.php?id=1
http://www.nexuspartners.com/expertise/
Nexus Partners specializes in tackling complex business questions where a myriad of market, technology and operational issues must be assessed and transformed into winning results. We focus on helping companies get results in the following areas:
• Growth Strategies
• New Initiatives
• Partnerships
• Bridging Technology and Financial Services
Case Study: Merrill Lynch
Accomplishment: Developed strategy to attract new, younger clients
In the mid '90's Merrill Lynch, the "Thundering Herd" of the brokerage industry, was confronted with a new type of competition: the Internet and online brokers. The team brought in to assist with this dilemma, managed by Nexus Partner's Steve Adelman, quickly determined that the average age of a Merrill Lynch customer had gone up every year by a year for the past decade, and at that point their average age was in the mid-50's.
The first order of business was to create a strategy for Merrill Lynch to approach and acquire younger, Internet-savvy clients, while acknowledging and respecting its reputation and culture as the investment firm with the world's largest number of brokers. Merrill Lynch was, and remains known for "bringing Wall Street to Main Street" with its army of brokers who personally manage their client relationships. In addition, it was a requirement to understand and work within existing infrastructure and processes.
The team mapped the entire process flow of acquiring and maintaining a client. This map, created with the input of hundreds of Merrill Lynch employees, ended up being three feet tall by 30 feet long. Based on the information gathered in the creation of the map, as well as interviews with numerous clients, clients of competitor firms, and primary research, the team made a number of recommendations to the leadership of Merrill Lynch on how it could acquire and hold younger clients, without turning its back on its core clientele or its strong broker-based culture.
As a result of these findings and recommendations, including $500 million identified in incremental revenues and cost savings, Merrill Lynch created a new division - "Next Generation," which was tasked with developing a service offering for new, younger customers. Merrill Lynch today has a full range of internet-based tools and educational materials that supplement its brokers, and remains one of the largest wealth management firms world-wide.
Nexus Partners is located in the heart of Silicon Valley, near the intersections of 280 and 85.
We are best reached by email at: info@nexuspartners.com
You can also reach us via regular mail at:
1684 Kitchener Drive
Sunnyvale, CA 94087
Or by telephone: 408 306-7049
http://www.nexuspartners.com/
Nexus Partners has worked successfully with clients from startups to Global 50 companies, helping them strategically grow their companies and successfully execute new initiatives to meet their most critical goals. We have founded and run early stage companies, managed divisions of large corporations, and held executive positions at Fortune 50 companies. At Nexus Partners we use this experience to partner with our clients to help them to be successful.
http://www.nexuspartners.com/about/
Steve Adelman
Steve Adelman is the founding manager of Nexus Partners. He focuses on the development of business and corporate growth strategies for Nexus Partners' technology and financial services clients.
Steve has been a leader and an advisor to growing high technology and financial services companies for over twenty years. His expertise includes business and financial models, go-to-market strategies, partnerships, and strategic investments. Contact Steve
Advisory Responsibilities
Steve develops business and corporate growth strategies for clients, helping them define realistic business goals, create programs to achieve them and determine appropriate metrics to evaluate success. He helps clients create and execute their go-to-market efforts, strategic partnership programs, financial and technology investment strategies, and helps build and manage corporate teams to drive the new strategies to successful execution.
Experience Base
Steve’s current and past companies and clients include American Express, Hitachi, Merrill Lynch, Novell, Palm, Reuters, the U.S. Secret Service and numerous startups. Steve is currently an advisor to Mocana and JobFlash.
Steve is an adjunct professor in the Entrepreneurship Program in the School of Business and Management at the University of San Francisco.
In the non-profit sector, Steve is involved with the Cupertino Educational Endowment Foundation, is the leader of the Northwest YMCA Trailblazers a father and child organization, and is a Board Member of the Fairbrae Swim and Racquet Club.
http://www.nexuspartners.com/success/index.php?id=1
http://www.nexuspartners.com/expertise/
Nexus Partners specializes in tackling complex business questions where a myriad of market, technology and operational issues must be assessed and transformed into winning results. We focus on helping companies get results in the following areas:
• Growth Strategies
• New Initiatives
• Partnerships
• Bridging Technology and Financial Services
Case Study: Merrill Lynch
Accomplishment: Developed strategy to attract new, younger clients
In the mid '90's Merrill Lynch, the "Thundering Herd" of the brokerage industry, was confronted with a new type of competition: the Internet and online brokers. The team brought in to assist with this dilemma, managed by Nexus Partner's Steve Adelman, quickly determined that the average age of a Merrill Lynch customer had gone up every year by a year for the past decade, and at that point their average age was in the mid-50's.
The first order of business was to create a strategy for Merrill Lynch to approach and acquire younger, Internet-savvy clients, while acknowledging and respecting its reputation and culture as the investment firm with the world's largest number of brokers. Merrill Lynch was, and remains known for "bringing Wall Street to Main Street" with its army of brokers who personally manage their client relationships. In addition, it was a requirement to understand and work within existing infrastructure and processes.
The team mapped the entire process flow of acquiring and maintaining a client. This map, created with the input of hundreds of Merrill Lynch employees, ended up being three feet tall by 30 feet long. Based on the information gathered in the creation of the map, as well as interviews with numerous clients, clients of competitor firms, and primary research, the team made a number of recommendations to the leadership of Merrill Lynch on how it could acquire and hold younger clients, without turning its back on its core clientele or its strong broker-based culture.
As a result of these findings and recommendations, including $500 million identified in incremental revenues and cost savings, Merrill Lynch created a new division - "Next Generation," which was tasked with developing a service offering for new, younger customers. Merrill Lynch today has a full range of internet-based tools and educational materials that supplement its brokers, and remains one of the largest wealth management firms world-wide.
Nexus Partners is located in the heart of Silicon Valley, near the intersections of 280 and 85.
We are best reached by email at: info@nexuspartners.com
You can also reach us via regular mail at:
1684 Kitchener Drive
Sunnyvale, CA 94087
Or by telephone: 408 306-7049
Wednesday, January 23, 2008
Risk Management Consultant
GlobeRisk Areas of Experience in Asset Management Organizations
Investment Risk
development of risk policy for Scandinavian investment fund;
methodologies review for two global quantitative (automated trading) funds;
review of quantitative derivatives fund for US investment bank;
advised several OECD government entities on structure of liability management. Areas included organisational development, objectives, liability management methods to achieve objectives and performance assessment tools/reporting
advised large European State Pension fund on setting up framework, measures and systems for credit risk management to support move into corporate bonds;
Contact
GlobeRisk Ltd
GlobeRisk is based in Leatherhead, Surrey in the United Kingdom. Our location by Junction 9 of the M25 London Orbital Motorway offers excellent travel links to London, most parts of the UK and most parts of the world.
General Enquiries:
email : enquiries@globerisk.org,
Phone: +44 (0)1372 817498
Fax: +44 (0)1372 817498
Andrew Smith, Managing Director
email : andrewsmith@globerisk.org,
Phone: +44 (0)7979 703137
http://www.globerisk.org/index.php?action=ContactUs
Investment Risk
development of risk policy for Scandinavian investment fund;
methodologies review for two global quantitative (automated trading) funds;
review of quantitative derivatives fund for US investment bank;
advised several OECD government entities on structure of liability management. Areas included organisational development, objectives, liability management methods to achieve objectives and performance assessment tools/reporting
advised large European State Pension fund on setting up framework, measures and systems for credit risk management to support move into corporate bonds;
Contact
GlobeRisk Ltd
GlobeRisk is based in Leatherhead, Surrey in the United Kingdom. Our location by Junction 9 of the M25 London Orbital Motorway offers excellent travel links to London, most parts of the UK and most parts of the world.
General Enquiries:
email : enquiries@globerisk.org,
Phone: +44 (0)1372 817498
Fax: +44 (0)1372 817498
Andrew Smith, Managing Director
email : andrewsmith@globerisk.org,
Phone: +44 (0)7979 703137
http://www.globerisk.org/index.php?action=ContactUs
Risk Management Consultant
GlobeRisk Areas of Experience in Investment Banks
Market Risk, ALM, Funding and Liquidity
assisted bank to manage down and subsequently sell a large Interest rate options book.
comprehensive review of financial, market risk and credit risk management models, techniques and policies at one of the world's top three global derivative organisations;
review and development of income recognition adjustments (PLA) for off balance sheet products at several major investment banking institutions;
design and development of credit derivatives models (based on Actuarial techniques) for new credit trading business;
valuation testing and specialist financial modelling advice to a range of top derivatives businesses
assisted several Treasury/Capital Markets operations to reengineer financial control activities;
Review and development of the use of Repo funding at Capital Markets trading house;
Design and Implementation of a new trading limts framework at a leading Nordic Investment Bank
article: "Myths and Legends of Value at Risk" (Futures & Options World Issue 324, May 1998)
Credit Technical Risk and Underwriting
development of netting and collateral management framework for major global capital markets bank;
development of credit exposure measurement and portfolio management methods for off balance sheet instruments at capital markets bank;
review and test of credit risk model for AAA Special Purpose Vehicle. This was used by the client to support negotiations with rating agencies;
Operational Risk
development of KPMG best practice controls requirements for trading businesses;
minimum controls portfolio for International investment bank;
Firmwide Risk Management
Review of firmwide approach to management of all risks across a leading financial trading organisation
Review of firmwide approach to management of all risks across a leading investment bank
development of Risk Adjusted performance models/framework at multinational development bank.
Regulatory, Compliance and Financial Controls
design of mark to market control environments for the derivatives books of several investment banks
article: "Off balance sheet valuation Adjustments" (Journal of Derivatives Trading & Regulation 1997, Netexposure 1998);
Strategy
development of medium term and marketing strategy for derivatives trading and arbitrage organisation;
strategy development for Capital Markets business of major Nordic retail/commercial bank;
IT
selection of market risk management system for UK capital markets/derivatives bank;
review and modification of the requirements for front, middle and back office systems at several clients;
GlobeRisk Ltd
GlobeRisk is based in Leatherhead, Surrey in the United Kingdom. Our location by Junction 9 of the M25 London Orbital Motorway offers excellent travel links to London, most parts of the UK and most parts of the world.
General Enquiries:
email : enquiries@globerisk.org,
Phone: +44 (0)1372 817498
Fax: +44 (0)1372 817498
Andrew Smith, Managing Director
email : andrewsmith@globerisk.org,
Phone: +44 (0)7979 703137
http://www.globerisk.org/index.php?action=ContactUs
Market Risk, ALM, Funding and Liquidity
assisted bank to manage down and subsequently sell a large Interest rate options book.
comprehensive review of financial, market risk and credit risk management models, techniques and policies at one of the world's top three global derivative organisations;
review and development of income recognition adjustments (PLA) for off balance sheet products at several major investment banking institutions;
design and development of credit derivatives models (based on Actuarial techniques) for new credit trading business;
valuation testing and specialist financial modelling advice to a range of top derivatives businesses
assisted several Treasury/Capital Markets operations to reengineer financial control activities;
Review and development of the use of Repo funding at Capital Markets trading house;
Design and Implementation of a new trading limts framework at a leading Nordic Investment Bank
article: "Myths and Legends of Value at Risk" (Futures & Options World Issue 324, May 1998)
Credit Technical Risk and Underwriting
development of netting and collateral management framework for major global capital markets bank;
development of credit exposure measurement and portfolio management methods for off balance sheet instruments at capital markets bank;
review and test of credit risk model for AAA Special Purpose Vehicle. This was used by the client to support negotiations with rating agencies;
Operational Risk
development of KPMG best practice controls requirements for trading businesses;
minimum controls portfolio for International investment bank;
Firmwide Risk Management
Review of firmwide approach to management of all risks across a leading financial trading organisation
Review of firmwide approach to management of all risks across a leading investment bank
development of Risk Adjusted performance models/framework at multinational development bank.
Regulatory, Compliance and Financial Controls
design of mark to market control environments for the derivatives books of several investment banks
article: "Off balance sheet valuation Adjustments" (Journal of Derivatives Trading & Regulation 1997, Netexposure 1998);
Strategy
development of medium term and marketing strategy for derivatives trading and arbitrage organisation;
strategy development for Capital Markets business of major Nordic retail/commercial bank;
IT
selection of market risk management system for UK capital markets/derivatives bank;
review and modification of the requirements for front, middle and back office systems at several clients;
GlobeRisk Ltd
GlobeRisk is based in Leatherhead, Surrey in the United Kingdom. Our location by Junction 9 of the M25 London Orbital Motorway offers excellent travel links to London, most parts of the UK and most parts of the world.
General Enquiries:
email : enquiries@globerisk.org,
Phone: +44 (0)1372 817498
Fax: +44 (0)1372 817498
Andrew Smith, Managing Director
email : andrewsmith@globerisk.org,
Phone: +44 (0)7979 703137
http://www.globerisk.org/index.php?action=ContactUs
Wednesday, January 9, 2008
Destiny Consultants Worlwide
http://destinyworldwide.com/destiny_consultants_worldwide_strategy.php
The DC Strategy
The corporate strategy is structured to investigate market conditions in various business and industry sectors
Business and Industry Sectors
--------------------------------------------------------------------------------
Asset Management
Convertibles
Equities
Fixed Income
Real Assets
Investment Banking
Bank Financing
Convertible Debt Advisory
Financial Advisory
High Yield Debt Advisory
Mergers & Acquisitions
Private Equity Advisory
Public Equity Advisory
Recapitalization & Restructuring Advisory
Research
Convertibles
High Yield
U.S. & International Equity
Sales and Trading
Bank Debt Trading Advisory
Bonds Direct Advisory
Commodities Advisory
Convertible Sales & Trading Advisory
Equity Research Sales & Syndicate Advisory
Equity Sales & Trading Advisory
High Yield Sales & Trading Advisory
International Securities Trading Advisory
NYSE Brokerage Advisory
Portfolio Trading Advisory
Value-Added Services
Correspondent Clearing
Prime Brokerage Advisory
Private Client Advisory Services
Securities Lending Advisory
The DC Strategy
The corporate strategy is structured to investigate market conditions in various business and industry sectors
Business and Industry Sectors
--------------------------------------------------------------------------------
Asset Management
Convertibles
Equities
Fixed Income
Real Assets
Investment Banking
Bank Financing
Convertible Debt Advisory
Financial Advisory
High Yield Debt Advisory
Mergers & Acquisitions
Private Equity Advisory
Public Equity Advisory
Recapitalization & Restructuring Advisory
Research
Convertibles
High Yield
U.S. & International Equity
Sales and Trading
Bank Debt Trading Advisory
Bonds Direct Advisory
Commodities Advisory
Convertible Sales & Trading Advisory
Equity Research Sales & Syndicate Advisory
Equity Sales & Trading Advisory
High Yield Sales & Trading Advisory
International Securities Trading Advisory
NYSE Brokerage Advisory
Portfolio Trading Advisory
Value-Added Services
Correspondent Clearing
Prime Brokerage Advisory
Private Client Advisory Services
Securities Lending Advisory
Balanced Scorecard for bank/Investment Bank
http://www.penna.com/
Penna is a global human capital management consultancy.
We help organisations to improve business performance through
their people.
Our expertise spans the entire employment lifecycle and includes recruitment communications, executive recruitment, executive interim, leadership development, human resource consulting and career transition.
Aligning HSBC Investment Bank to its strategy
The investment banking and global markets division of HSBC was
focused on delivering enhanced shareholder value through a ‘managing for
value’ initiative. However to achieve these challenging targets the
management team knew that they must ensure that all the organisation’s
resources, including its people, were firmly focused on delivering its
strategy. Penna Consulting helped through the use of cascaded balanced
scorecards, to make this a reality.
HSBC
A well-respected global, full-service
financial services institution with over 130,000
employees operating in over 72 countries. It has a
reputation for prudent management and strong
performance. It has expanded widely, with strong
operations in the Far East, Asia and Europe.
The situation
The leadership team of HSBC’s investment banking
and global markets division recognised that it
needed to better align the activities of its employees
with the MFV concepts and the strategy of the
overall bank.
The Chairman realised that to do this he needed a
clear way to engage his employees and ensure that
their contributions fully supported the objectives of
the business. This required two key changes to the
way he ran his division:
• to ensure that all business units within the
division aligned their activities to the overriding
imperatives of the bank
• to demonstrate that the division was effectively
contributing to the overall success of the bank
Previously, Penna Consulting had worked with the
Equities department within the wider division to
create a set of scorecards that identified the linkage
between their activities and the overall achievement
of divisional strategy.
This had been very successful and the chairman
decided to roll the concept out throughout the
division as a result. Penna Consulting was again
asked to help support this process and to ensure
that the right level of alignment was achieved.
Why Penna used the balanced scorecard
Penna chose the balanced scorecard as the
mechanism to create this alignment because it
focuses attention on the critical measures that
determine achievement of organisational strategy.
In essence, the scorecard is a tool that helps
organisations manage their businesses more
effectively and more in line with their strategies.
The combination of measures on the scorecard is
specifically chosen to provide information on the
progress towards achieving its strategic
imperatives/ objectives. In this way it aligns
organisational activity to achieving success in the
areas seen as being most important to the
organisation.
These measures are spread over four quadrants:
1. Financial measures - how well the
organisation is meeting its financial objectives
2. Customer measures - whether the
organisation is adding value to its customers
3. People measures - whether the organisation
has the staff capability to support the present
and future needs of the business
4. Process measures - how well the
organisation is managing risk and protecting its
assets and measures the effectiveness of the
process capability.
Targets are set against each measure to identify the
level of performance that must be achieved.
The Scorecard, for ultimate effectiveness, should be
cascaded from the corporate level to divisional or
departmental scorecards and then on to team and
individual levels. In this way, all performance is
aligned to achieving the overall strategic objectives.
At the organisational level there is ‘line of sight’
between all activities and overall objectives. At the
individual level linking performance to the Scorecard
will determine, manage and monitor their
performance in relation to what the organisation
requires to be successful. This ultimately has a
positive impact on the development of the
individual’s capability and the enhancement of the
organisation’s performance.
Using the scorecard can help organisations to:
• communicate their strategy to their people
• ensure activities are aligned to overall
objectives
• use the scorecard to measure, monitor and
manage performance of the organisation, team
and individual
• deliver their objectives through a managed
process.
What Penna did
As with all major change management assignments,
the delivery of the scorecards has to be done ‘with’
rather than ‘to’ the organisation. To this end a joint client/consultant team ws created with
responsibility for rolling out the planned 500
scorecards.
The team was assembled together and Penna ran a number of
sessions to introduce the concept of the Balanced
Scorecard, explain how it would be used and
describe the tools that were available. Each team
member was given responsibility for a particular
department, function or team. In this way team
members became advocates and champions of the
project.
Every member of the team was provided with a
‘toolkit’ that outlined what he or she needed to do to
roll out the process in his or her own function.
A central team which controlled and managed the
process also provided support. This team was
responsible for ensuring that quality and consistency
was maintained and that alignment to the overall
organisational objectives was achieved.
The team worked hard at getting senior managers
involved and ensuring that the created scorecards
were ‘fit for purpose’.
The results
Over a four month period the joint team worked in
over 23 different areas of the business, producing
over 500 strategically aligned scorecards. Many
gave individuals, for the first time, the opportunity
to see how they could directly contribute to business
performance.
There was a greater understanding of how the
business fitted together and the project created a
platform for future cascades to all individuals in the
business.
The joint team worked very well together, learning
as the project progressed. The internal champions
were able to act as owners of the process and
ensured that their senior teams were fully engaged
with the concept and its benefits.
Introducing balanced scorecards made a significant
change to the way that the investment banking and
global markets division operated. It helped the
Chairman to clearly demonstrate to the HSBC board
the value that his area made to the business. It also
gave him the right mechanism to align his people to
the overall business objectives.
Ultimately, this helped the division gain ‘line of
sight’ and support for delivering shareholder value.
For further information:
If you would like to discuss and know more about this case study you can contact
corporate@penna.com
Website: www.penna.com
Reference
http://www.e-penna.com/casestudies/Case%20study%20-%20HSBC%20-%20Web.pdf
Penna is a global human capital management consultancy.
We help organisations to improve business performance through
their people.
Our expertise spans the entire employment lifecycle and includes recruitment communications, executive recruitment, executive interim, leadership development, human resource consulting and career transition.
Aligning HSBC Investment Bank to its strategy
The investment banking and global markets division of HSBC was
focused on delivering enhanced shareholder value through a ‘managing for
value’ initiative. However to achieve these challenging targets the
management team knew that they must ensure that all the organisation’s
resources, including its people, were firmly focused on delivering its
strategy. Penna Consulting helped through the use of cascaded balanced
scorecards, to make this a reality.
HSBC
A well-respected global, full-service
financial services institution with over 130,000
employees operating in over 72 countries. It has a
reputation for prudent management and strong
performance. It has expanded widely, with strong
operations in the Far East, Asia and Europe.
The situation
The leadership team of HSBC’s investment banking
and global markets division recognised that it
needed to better align the activities of its employees
with the MFV concepts and the strategy of the
overall bank.
The Chairman realised that to do this he needed a
clear way to engage his employees and ensure that
their contributions fully supported the objectives of
the business. This required two key changes to the
way he ran his division:
• to ensure that all business units within the
division aligned their activities to the overriding
imperatives of the bank
• to demonstrate that the division was effectively
contributing to the overall success of the bank
Previously, Penna Consulting had worked with the
Equities department within the wider division to
create a set of scorecards that identified the linkage
between their activities and the overall achievement
of divisional strategy.
This had been very successful and the chairman
decided to roll the concept out throughout the
division as a result. Penna Consulting was again
asked to help support this process and to ensure
that the right level of alignment was achieved.
Why Penna used the balanced scorecard
Penna chose the balanced scorecard as the
mechanism to create this alignment because it
focuses attention on the critical measures that
determine achievement of organisational strategy.
In essence, the scorecard is a tool that helps
organisations manage their businesses more
effectively and more in line with their strategies.
The combination of measures on the scorecard is
specifically chosen to provide information on the
progress towards achieving its strategic
imperatives/ objectives. In this way it aligns
organisational activity to achieving success in the
areas seen as being most important to the
organisation.
These measures are spread over four quadrants:
1. Financial measures - how well the
organisation is meeting its financial objectives
2. Customer measures - whether the
organisation is adding value to its customers
3. People measures - whether the organisation
has the staff capability to support the present
and future needs of the business
4. Process measures - how well the
organisation is managing risk and protecting its
assets and measures the effectiveness of the
process capability.
Targets are set against each measure to identify the
level of performance that must be achieved.
The Scorecard, for ultimate effectiveness, should be
cascaded from the corporate level to divisional or
departmental scorecards and then on to team and
individual levels. In this way, all performance is
aligned to achieving the overall strategic objectives.
At the organisational level there is ‘line of sight’
between all activities and overall objectives. At the
individual level linking performance to the Scorecard
will determine, manage and monitor their
performance in relation to what the organisation
requires to be successful. This ultimately has a
positive impact on the development of the
individual’s capability and the enhancement of the
organisation’s performance.
Using the scorecard can help organisations to:
• communicate their strategy to their people
• ensure activities are aligned to overall
objectives
• use the scorecard to measure, monitor and
manage performance of the organisation, team
and individual
• deliver their objectives through a managed
process.
What Penna did
As with all major change management assignments,
the delivery of the scorecards has to be done ‘with’
rather than ‘to’ the organisation. To this end a joint client/consultant team ws created with
responsibility for rolling out the planned 500
scorecards.
The team was assembled together and Penna ran a number of
sessions to introduce the concept of the Balanced
Scorecard, explain how it would be used and
describe the tools that were available. Each team
member was given responsibility for a particular
department, function or team. In this way team
members became advocates and champions of the
project.
Every member of the team was provided with a
‘toolkit’ that outlined what he or she needed to do to
roll out the process in his or her own function.
A central team which controlled and managed the
process also provided support. This team was
responsible for ensuring that quality and consistency
was maintained and that alignment to the overall
organisational objectives was achieved.
The team worked hard at getting senior managers
involved and ensuring that the created scorecards
were ‘fit for purpose’.
The results
Over a four month period the joint team worked in
over 23 different areas of the business, producing
over 500 strategically aligned scorecards. Many
gave individuals, for the first time, the opportunity
to see how they could directly contribute to business
performance.
There was a greater understanding of how the
business fitted together and the project created a
platform for future cascades to all individuals in the
business.
The joint team worked very well together, learning
as the project progressed. The internal champions
were able to act as owners of the process and
ensured that their senior teams were fully engaged
with the concept and its benefits.
Introducing balanced scorecards made a significant
change to the way that the investment banking and
global markets division operated. It helped the
Chairman to clearly demonstrate to the HSBC board
the value that his area made to the business. It also
gave him the right mechanism to align his people to
the overall business objectives.
Ultimately, this helped the division gain ‘line of
sight’ and support for delivering shareholder value.
For further information:
If you would like to discuss and know more about this case study you can contact
corporate@penna.com
Website: www.penna.com
Reference
http://www.e-penna.com/casestudies/Case%20study%20-%20HSBC%20-%20Web.pdf
Cap Gemini Consulting - Investment Bank - Success Story
1999-2004
Capgemini was assigned to develop a global strategy for its retail asset management business, covering both mutual funds and defined contribution pensions of an European investment bank.
The investment bank had $12bn of assets under management. Poor investment performance, new distribution channels, and intense competition had all contributed to eroding the bank’s long-held position as the number one provider of long-term savings in the UK.
Our Approach
Capgemini was assigned to develop a global strategy for its retail asset management business, covering both mutual funds and defined contribution pensions. A strategy was required not only to define which markets to operate in, but how to play within each of these targeted markets (i.e. as a scale or niche player.) Our strategy included providing:
Visioning and analysis of global trends and market analysis Assessment of current capabilities and development of strategic options Facilitation and selection of preferred strategyValue Delivered
As a result of this work, our client was able to understand the external forces operating on their business and make some difficult decisions based on rational data.
One client board member remarked that this was the first time their team had a clear strategy for their AM business and, as a result, the leadership was aligned to a common vision.
Finally, the financial results of implementing the recommended global strategy were significant, with an impact of increasing profit before tax of the retail asset management business from £10m in 1999 to an estimated £100 million in 2004.
http://www.nl.capgemini.com/resources/case_studies/european_investment_bank/
Capgemini was assigned to develop a global strategy for its retail asset management business, covering both mutual funds and defined contribution pensions of an European investment bank.
The investment bank had $12bn of assets under management. Poor investment performance, new distribution channels, and intense competition had all contributed to eroding the bank’s long-held position as the number one provider of long-term savings in the UK.
Our Approach
Capgemini was assigned to develop a global strategy for its retail asset management business, covering both mutual funds and defined contribution pensions. A strategy was required not only to define which markets to operate in, but how to play within each of these targeted markets (i.e. as a scale or niche player.) Our strategy included providing:
Visioning and analysis of global trends and market analysis Assessment of current capabilities and development of strategic options Facilitation and selection of preferred strategyValue Delivered
As a result of this work, our client was able to understand the external forces operating on their business and make some difficult decisions based on rational data.
One client board member remarked that this was the first time their team had a clear strategy for their AM business and, as a result, the leadership was aligned to a common vision.
Finally, the financial results of implementing the recommended global strategy were significant, with an impact of increasing profit before tax of the retail asset management business from £10m in 1999 to an estimated £100 million in 2004.
http://www.nl.capgemini.com/resources/case_studies/european_investment_bank/
Tuesday, November 6, 2007
Bain & Co. India Office
Bain & Co., a management consultancy organization opened it full fledged India office with Ashish J Singh as managing director in 2006.
Download Management Tools 2007 by Bain & Co.
http://www.bain.com/bainweb/PDFs/cms/Public/Management_Tools_2007_Executive_Guide.pdf
Private Equity in India
It is growing fast, but private equity in India has yet to show the scale of returns and deal volume that make PE a force in other global markets. Bain & Company analysed nearly $15 billion in private equity investments between 2000 and 2006, most of the largest deals--more than 70 per cent -- were less than $150 million.
The average deal size was $21 million -- less than one-third the size of the average PE investment elsewhere in Asia.
Skepticism of private equity still runs deep among many Indian entrepreneurs as they weigh whether the potential advantages PE partners bring to the table justify diluting their financial interest and control.
Can PE firms and the Indian companies they are courting bridge the gap? The answer, undoubtedly, is yes. Based on our experience, that will depend on the readiness of private equity firms to adjust their approach to India, and the willingness of Indian companies to see the opportunities in tapping the expertise of private equity partners.
The challenge for Indian companies is to recognise that PE firms bring more than money to a deal -- they also bring international networks that can help fill gaps in growth strategies, build alliances and add management depth. For their part, PE firms need to wait and pick targets carefully in industries where they can bring their distinctive skills to bear and demonstrate the value they bring into a business venture.
A recent survey conducted jointly by Bain & Company and Knowledge@Wharton, the online business journal of The Wharton School at the University of Pennsylvania.
The survey gathered the opinions of nearly 150 global PE investors active in India, their local counterparts, and Indian entrepreneurs and executives.
Among the highlights:
Sixty per cent of survey respondents said the investment climate in India is more attractive than in Japan or South Korea, while 40 per cent agreed that India is more attractive than China.
Over the coming three years, moreover, a majority anticipate that China and India will be on par as Asia's most attractive destinations for private equity investment. In general, India is perceived to be a friendlier investment environment than China, with survey respondents indicating that Indian businesses are less hamstrung by government regulations and have an easier time recruiting experienced managers.
They also say it is easier to negotiate and close a deal in India compared with China. For example, 71 per cent told us that Chinese corporate accounts suffer from a lack of transparency, compared to just half as many who said Indian companies' finances are difficult to track.
In one important area, however, respondents give China an edge over India: Valuations are more expensive in India. Nevertheless, private equity firms are rolling out plans that reflect their confidence that India presents attractive opportunities.
Among firms in our survey sample, three-quarters anticipate at least doubling the amount they invest over the next three years. There was broad agreement among PE investors and Indian executives who responded to the survey about which sectors are most appealing. But there was also consensus about bottlenecks that may diminish India's attractiveness.
Not surprisingly, poor infrastructure was the No 1 concern; 68 per cent of respondents described it as a "challenge" or "major challenge." More than 40 per cent thought that high asset values will continue to crimp opportunities for private equity. Also ranking high were worries about whether the supply of skilled workers can keep pace with the demand, as well as concerns that onerous government regulations could curb India's appeal. Whether India's young private equity market ultimately delivers on its promise will depend on how Indian companies and PE investors learn to capitalise on each other's strengths. Indian executives will have to discover what these deep-pocketed newcomers can do help their companies flourish. For their part, private equity firms should be willing to invest patience as well as cash in cultivating relationships.
Indian companies: have to understand the value of PE involvement
Overwhelmingly, survey respondents said that access to capital was the principal advantage private equity firms bring to a potential relationship. Yet three out of five Indian executives said that they would prefer to finance their companies' growth through a public stock listing, and roughly two out of five prefer debt financing or a capital infusion from a strategic partner to the potential entanglements that come with a private equity investment. Private equity merits a closer look. Indian companies stand to benefit most in three areas:
Fill gaps in long-term growth strategy. With their hands-on experience working with companies in a wide range of industries, private equity partners can help Indian companies accelerate their growth. In mid-2006, for example, managers at Claris Lifesciences, a leading pharmaceutical manufacturer based in Ahmedabad, accepted a $20 million investment from The Carlyle Group, the US private equity firm, to help fund its growth plans. Beyond the modest cash infusion, Claris anticipates getting a big operational boost from Carlyle's managerial input and connections that will enable Claris to speed up its penetration of key export markets. Carlyle's deep bench of US and European advisors will help Claris tailor the right strategies for each market and engage technical experts who can advise Claris on, among other things, how best to organise itself to meet US Food and Drug Administration standards. Another Carlyle unit in Japan, meanwhile, is working with Claris managers to line up reliable, cost-efficient offshore raw material suppliers. Shankar Narayanan, Carlyle India's lead director, says that his firm's role is to "act as a catalyst to Claris's transformation into a major pharma player."
Forge the right alliances. With the introductions that a private equity partner can provide, world-class Indian companies gain access to new customers, suppliers, and the opportunity to join forces with other enterprises in the PE firm's portfolio. Nimbus Communications, a diversified media company based in Mumbai, is harnessing its business goals to the network connections of 3i, the big London-based PE firm. Nimbus' founder and chief executive Harish Thawani acted to jump-start his company by selling 3i a 33 per cent stake in Nimbus for $45.5 million in August 2005. Nimbus is looking to 3i for introductions to potential partners from among its portfolio of 1,500 companies around the world, and is tapping the industry expertise of the firm's 300 investment professionals. Nimbus and 3i plan to deploy those resources to acquire broadcast rights, fund TV and feature-film production, and develop digital content for wireless distribution. Says Thawani: "We share a common belief in the global abilities of Nimbus, and that's where I believe 3i will add strategic value."
Recruit strategic advisors. Talent, transparency and independent oversight�key attributes of good governance anywhere -- are especially important in India, where company boards often operate through close personal ties. Having a PE partner can help strengthen those qualities. For example, it was just that need for seasoned judgment that initially drew Sunil Mittal, the founder of Bharti, to the investment offer by Warburg Pincus managing director Pulak Prasad, in 1999. As members of the company's board, Prasad (who left Warburg in late 2006) and his colleague Dalip Pathak, the head of Warburg Pincus' Indian funds, helped Bharti formulate an expansion strategy, bring aboard experienced senior managers and guide the company through an initial public stock offering in early 2002 that raised $172 million.
Private equity investors: Need to demonstrate value
Successful private equity firms know that capital is fungible. It is the unique skills they can bring to bear and the flexible, yet disciplined, approach they take to evaluating promising investment opportunities that matter most.
Assemble the right deal making team. In a reversal of how private equity works in the US or Europe, very few acquisitions in India result from an open auction process. Instead, word of the most promising investment opportunities circulates through tight networks of family relationships, well-placed government officials and other plugged-in confidants. Prominent senior directors who can command the respect of corporate insiders are themselves assets that can put a private equity firm at the top of a company's potential partners' list. Representative of this new breed of connected Indian-born business leaders is Ashish Dhawan, senior managing director at ChrysCapital, the domestic private equity firm he founded in Mumbai in 1999. The US-educated Dhawan held positions at prominent investment firms Goldman Sachs and Wasserstein Perella, financing technology and business outsourcing companies in the US and Latin America. Bringing that experience back to India, Dhawan raised a $1 billion war chest to provide growth capital to promising Indian outsourcing firms. ChrysCapital has been one of the most active investors in India's information technology and business services sector, backing 40 companies over the past eight years.
Think "buy in" not "buy out". With low-cost sources of debt and public equity capital readily available, few Indian companies are looking for a big private equity investment that would require them to share control or give up a board seat. Moreover, some standard deal-financing techniques in the PE toolkit are off-limits in India. For example, government regulations restrict the dividend payouts shareholders can extract from their holdings.
Successful private equity players adapt by acquiring minority holdings in target companies. Starting small can help PE investors get acquainted with management as the foundation for building a closer relationship down the road. A small stake need not be passive. Shortly after UK-based Actis took a minority position in Jyothy Laboratories, the Mumbai-based consumer products company, Actis introduced Jyothy management to outside advisers to evaluate the company's high advertising expenditures. The experts found that, while Jyothy's use of national media was efficient, the balance of spending among products needed to change. Inspired by these insights, Jyothy refocused advertising on several key products, repositioning some of them, and reduced spending on other brands, resulting in higher sales and profits.
Parlay a firm's distinctive skills. India's economy offers appealing opportunities across many sectors. Yet in their eagerness to stake out early positions, some PE investors show an almost indiscriminate hunger to sample them all. Smart fund managers are beginning to recognise that they are better able to spot the best prospects -- and bring more value to the companies with which they partner -- by developing expertise that sets them apart from their peers. Over time, the most successful firms will likely be those who build reputations as specialists in a distinct sector of the Indian economy or who become masters at helping diverse Indian companies solve intricate business problems they share. The time for ambitious neophytes is fast coming to an end.
Size up targets carefully. With plenty of private equity money chasing relatively few investment opportunities, even seasoned PE firms can be tempted to short-circuit their due diligence. That's a prescription for trouble. It's essential to look beyond the financial statements to take measure of the quality and capabilities of the management team and the company's broader opportunities. Alert private equity investors are adept at spotting ambitious entrepreneurs who know how to navigate fast-changing markets. Warburg Pincus found both a world-class opportunity and managers with the skill to exploit it at Radhakrishna Group, the food distribution company headquartered near Mumbai. It began by betting on chairman, Raju Shet�, who had piloted Radhakrishna's growth into India's largest food conglomerate. Investing $50 million for a 25 per cent stake in Radhakrishna in mid-2003, Warburg Pincus is working with Shet� to reorganise the country's food-supply chain and to expand the company's distribution network overseas. India offers some of the world's most fertile turf for the marriage of the talent and energy of ambitious entrepreneurs with the connections and capital of the savviest private equity investors. Trust and imagination are the necessary elements to fuse the two in a profitable relationship. Fortunately, Indian companies and PE firms are endowed with both.
From articles by Sri Rajan, a partner with Bain & Company leading the firm's Private Equity Practice in India and Ashish Singh, a Bain partner leading the firm's New Delhi office
http://economictimes.indiatimes.com/articleshow/738725.cms
http://www.rediff.com/money/2007/mar/19equity.htm
Download Management Tools 2007 by Bain & Co.
http://www.bain.com/bainweb/PDFs/cms/Public/Management_Tools_2007_Executive_Guide.pdf
Private Equity in India
It is growing fast, but private equity in India has yet to show the scale of returns and deal volume that make PE a force in other global markets. Bain & Company analysed nearly $15 billion in private equity investments between 2000 and 2006, most of the largest deals--more than 70 per cent -- were less than $150 million.
The average deal size was $21 million -- less than one-third the size of the average PE investment elsewhere in Asia.
Skepticism of private equity still runs deep among many Indian entrepreneurs as they weigh whether the potential advantages PE partners bring to the table justify diluting their financial interest and control.
Can PE firms and the Indian companies they are courting bridge the gap? The answer, undoubtedly, is yes. Based on our experience, that will depend on the readiness of private equity firms to adjust their approach to India, and the willingness of Indian companies to see the opportunities in tapping the expertise of private equity partners.
The challenge for Indian companies is to recognise that PE firms bring more than money to a deal -- they also bring international networks that can help fill gaps in growth strategies, build alliances and add management depth. For their part, PE firms need to wait and pick targets carefully in industries where they can bring their distinctive skills to bear and demonstrate the value they bring into a business venture.
A recent survey conducted jointly by Bain & Company and Knowledge@Wharton, the online business journal of The Wharton School at the University of Pennsylvania.
The survey gathered the opinions of nearly 150 global PE investors active in India, their local counterparts, and Indian entrepreneurs and executives.
Among the highlights:
Sixty per cent of survey respondents said the investment climate in India is more attractive than in Japan or South Korea, while 40 per cent agreed that India is more attractive than China.
Over the coming three years, moreover, a majority anticipate that China and India will be on par as Asia's most attractive destinations for private equity investment. In general, India is perceived to be a friendlier investment environment than China, with survey respondents indicating that Indian businesses are less hamstrung by government regulations and have an easier time recruiting experienced managers.
They also say it is easier to negotiate and close a deal in India compared with China. For example, 71 per cent told us that Chinese corporate accounts suffer from a lack of transparency, compared to just half as many who said Indian companies' finances are difficult to track.
In one important area, however, respondents give China an edge over India: Valuations are more expensive in India. Nevertheless, private equity firms are rolling out plans that reflect their confidence that India presents attractive opportunities.
Among firms in our survey sample, three-quarters anticipate at least doubling the amount they invest over the next three years. There was broad agreement among PE investors and Indian executives who responded to the survey about which sectors are most appealing. But there was also consensus about bottlenecks that may diminish India's attractiveness.
Not surprisingly, poor infrastructure was the No 1 concern; 68 per cent of respondents described it as a "challenge" or "major challenge." More than 40 per cent thought that high asset values will continue to crimp opportunities for private equity. Also ranking high were worries about whether the supply of skilled workers can keep pace with the demand, as well as concerns that onerous government regulations could curb India's appeal. Whether India's young private equity market ultimately delivers on its promise will depend on how Indian companies and PE investors learn to capitalise on each other's strengths. Indian executives will have to discover what these deep-pocketed newcomers can do help their companies flourish. For their part, private equity firms should be willing to invest patience as well as cash in cultivating relationships.
Indian companies: have to understand the value of PE involvement
Overwhelmingly, survey respondents said that access to capital was the principal advantage private equity firms bring to a potential relationship. Yet three out of five Indian executives said that they would prefer to finance their companies' growth through a public stock listing, and roughly two out of five prefer debt financing or a capital infusion from a strategic partner to the potential entanglements that come with a private equity investment. Private equity merits a closer look. Indian companies stand to benefit most in three areas:
Fill gaps in long-term growth strategy. With their hands-on experience working with companies in a wide range of industries, private equity partners can help Indian companies accelerate their growth. In mid-2006, for example, managers at Claris Lifesciences, a leading pharmaceutical manufacturer based in Ahmedabad, accepted a $20 million investment from The Carlyle Group, the US private equity firm, to help fund its growth plans. Beyond the modest cash infusion, Claris anticipates getting a big operational boost from Carlyle's managerial input and connections that will enable Claris to speed up its penetration of key export markets. Carlyle's deep bench of US and European advisors will help Claris tailor the right strategies for each market and engage technical experts who can advise Claris on, among other things, how best to organise itself to meet US Food and Drug Administration standards. Another Carlyle unit in Japan, meanwhile, is working with Claris managers to line up reliable, cost-efficient offshore raw material suppliers. Shankar Narayanan, Carlyle India's lead director, says that his firm's role is to "act as a catalyst to Claris's transformation into a major pharma player."
Forge the right alliances. With the introductions that a private equity partner can provide, world-class Indian companies gain access to new customers, suppliers, and the opportunity to join forces with other enterprises in the PE firm's portfolio. Nimbus Communications, a diversified media company based in Mumbai, is harnessing its business goals to the network connections of 3i, the big London-based PE firm. Nimbus' founder and chief executive Harish Thawani acted to jump-start his company by selling 3i a 33 per cent stake in Nimbus for $45.5 million in August 2005. Nimbus is looking to 3i for introductions to potential partners from among its portfolio of 1,500 companies around the world, and is tapping the industry expertise of the firm's 300 investment professionals. Nimbus and 3i plan to deploy those resources to acquire broadcast rights, fund TV and feature-film production, and develop digital content for wireless distribution. Says Thawani: "We share a common belief in the global abilities of Nimbus, and that's where I believe 3i will add strategic value."
Recruit strategic advisors. Talent, transparency and independent oversight�key attributes of good governance anywhere -- are especially important in India, where company boards often operate through close personal ties. Having a PE partner can help strengthen those qualities. For example, it was just that need for seasoned judgment that initially drew Sunil Mittal, the founder of Bharti, to the investment offer by Warburg Pincus managing director Pulak Prasad, in 1999. As members of the company's board, Prasad (who left Warburg in late 2006) and his colleague Dalip Pathak, the head of Warburg Pincus' Indian funds, helped Bharti formulate an expansion strategy, bring aboard experienced senior managers and guide the company through an initial public stock offering in early 2002 that raised $172 million.
Private equity investors: Need to demonstrate value
Successful private equity firms know that capital is fungible. It is the unique skills they can bring to bear and the flexible, yet disciplined, approach they take to evaluating promising investment opportunities that matter most.
Assemble the right deal making team. In a reversal of how private equity works in the US or Europe, very few acquisitions in India result from an open auction process. Instead, word of the most promising investment opportunities circulates through tight networks of family relationships, well-placed government officials and other plugged-in confidants. Prominent senior directors who can command the respect of corporate insiders are themselves assets that can put a private equity firm at the top of a company's potential partners' list. Representative of this new breed of connected Indian-born business leaders is Ashish Dhawan, senior managing director at ChrysCapital, the domestic private equity firm he founded in Mumbai in 1999. The US-educated Dhawan held positions at prominent investment firms Goldman Sachs and Wasserstein Perella, financing technology and business outsourcing companies in the US and Latin America. Bringing that experience back to India, Dhawan raised a $1 billion war chest to provide growth capital to promising Indian outsourcing firms. ChrysCapital has been one of the most active investors in India's information technology and business services sector, backing 40 companies over the past eight years.
Think "buy in" not "buy out". With low-cost sources of debt and public equity capital readily available, few Indian companies are looking for a big private equity investment that would require them to share control or give up a board seat. Moreover, some standard deal-financing techniques in the PE toolkit are off-limits in India. For example, government regulations restrict the dividend payouts shareholders can extract from their holdings.
Successful private equity players adapt by acquiring minority holdings in target companies. Starting small can help PE investors get acquainted with management as the foundation for building a closer relationship down the road. A small stake need not be passive. Shortly after UK-based Actis took a minority position in Jyothy Laboratories, the Mumbai-based consumer products company, Actis introduced Jyothy management to outside advisers to evaluate the company's high advertising expenditures. The experts found that, while Jyothy's use of national media was efficient, the balance of spending among products needed to change. Inspired by these insights, Jyothy refocused advertising on several key products, repositioning some of them, and reduced spending on other brands, resulting in higher sales and profits.
Parlay a firm's distinctive skills. India's economy offers appealing opportunities across many sectors. Yet in their eagerness to stake out early positions, some PE investors show an almost indiscriminate hunger to sample them all. Smart fund managers are beginning to recognise that they are better able to spot the best prospects -- and bring more value to the companies with which they partner -- by developing expertise that sets them apart from their peers. Over time, the most successful firms will likely be those who build reputations as specialists in a distinct sector of the Indian economy or who become masters at helping diverse Indian companies solve intricate business problems they share. The time for ambitious neophytes is fast coming to an end.
Size up targets carefully. With plenty of private equity money chasing relatively few investment opportunities, even seasoned PE firms can be tempted to short-circuit their due diligence. That's a prescription for trouble. It's essential to look beyond the financial statements to take measure of the quality and capabilities of the management team and the company's broader opportunities. Alert private equity investors are adept at spotting ambitious entrepreneurs who know how to navigate fast-changing markets. Warburg Pincus found both a world-class opportunity and managers with the skill to exploit it at Radhakrishna Group, the food distribution company headquartered near Mumbai. It began by betting on chairman, Raju Shet�, who had piloted Radhakrishna's growth into India's largest food conglomerate. Investing $50 million for a 25 per cent stake in Radhakrishna in mid-2003, Warburg Pincus is working with Shet� to reorganise the country's food-supply chain and to expand the company's distribution network overseas. India offers some of the world's most fertile turf for the marriage of the talent and energy of ambitious entrepreneurs with the connections and capital of the savviest private equity investors. Trust and imagination are the necessary elements to fuse the two in a profitable relationship. Fortunately, Indian companies and PE firms are endowed with both.
From articles by Sri Rajan, a partner with Bain & Company leading the firm's Private Equity Practice in India and Ashish Singh, a Bain partner leading the firm's New Delhi office
http://economictimes.indiatimes.com/articleshow/738725.cms
http://www.rediff.com/money/2007/mar/19equity.htm
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