With high cost structures during a recession, many Nordic countries are looking towards India to help them cut those costs by almost 30-40%. Some of the biggest banks in the Nordic region, NORDEA AB, Svenska Handelsbanken and SEB are looking at outsourcing technology to India.
According to a senior official of an offshore advisory firm, QuantumStep, Nordic companies studied many successful offshoring case studies like Ericsson and Ikea before considering India. Nordic countries prefer to start off with small contracts in the region of $10-20 million, but are expected to sign larger ones only after looking at the benefits of the earlier contracts. Belgium, another potentially huge market for service providers, is also signing contracts to the tune of almost $30-40 million and more, said the official from QuantumStep.
EquaTerra, an outsourcing advisory firm, in a study involving 370 contracts, signed by over 200 Nordic customers and worth around $4.3 billion, found that Indian service providers were better than their European counterparts such as TietoEnator and Capgemini when it came to quality of services offered. EquaTerra said in a recent report that there’s no doubt that India leads the pack when it comes to providing services for the Nordic firms with at least 61% of firms using India for all or at least some of their outsourcing needs.
Unlike other European markets, such as Germany, where labor laws make it difficult for service providers, Nordic countries are more flexible and this is what makes it more viable for India. Major Indian IT companies are looking at outsourcing contracts to the tune of $100 million each, in the coming years.
When Handelsbanken was looking at offshoring, it shortlisted many firms, including European and Indian ones, before finally deciding on Indian firms. Handelsbanken had tentatively been exploring offshoring for almost a year; the recession forced them into considering it as a definite possibility. Handelsbanken are looking for suppliers to maintain their legacy mainframe systems in addition to making them work with newer business software applications.
Though one top Indian IT firm confirmed that Nordic countries are indeed looking at outsourcing to India, others declined comment.
The head of the European division of an Indian IT firm says that the overall Nordic market will not grow much this year but the demand for outsourcing is seeing a steady growth. According to him, about 100 deals which have been signed over the past six to eight months are collectively in the vicinity of € 500,000 to € 150 million with the most significant one in size and in terms of frequency being in the vicinity of € 8-20 million.
Norway is expected to show a high IT market growth in Europe this year, around 1-2% every year, while most other markets have not grown or have declined.
Showing posts with label Business Ideas. Show all posts
Showing posts with label Business Ideas. Show all posts
TCS bags outsourcing contract
Tata Consultancy Services has been selected as an IT vendor by BP for the oil and gas majors refining, manufacturing and corporate maintenance works. "Our selection as a strategic IT vendor for BP demonstrates our strong domain expertise and highlights the investments we have been making in the technology-led energy sector," TCS Chief Operating Officer and Executive Director N Chandrasekaran said in a release.When contacted a TCS official told PTI that the deal was for five years, but she did not reveal the value of the deal.BP has a rigorous procurement selection process which assessed the capability, oil and gas sector knowledge and cost.BP is one of the world`s largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.TCS energy vertical serves international and domestic energy companies across the industrys value chain. It also works with oil field services companies on solutions that help increase the production and reliability of upstream operations, the release said."In awarding TCS our refining, manufacturing and corporate maintenance work, we look to benefit from their knowledge of the oil and gas sector," BP Group CIO Dana Deasy was quoted as saying in the release.The contact would help BP to reduce complexity, standardise processes and lower overall cost base, Deasy said.
Global BPO vendors poach staff from local cos
Global outsourcing vendors such as Accenture and Capgemini are increasingly poaching employees from Indian rivals as they tap into professionals with expertise in offshoring to compete more effectively against companies like TCS, Wipro and Infosys.
As offshore outsourcing goes mainstream, multinationals are hiring Indians to head their sales teams in key markets in Europe and the US, a shift from the practice of employing locals to win contracts.
“This is happening for several roles spanning from sales, sales support to delivery. There is in a sense, even positive discrimination towards Indians now,” an Indian executive who joined a multinational in Germany recently told ET on condition on anonymity.
Offshore outsourcing, or remote delivery of software application development, maintenance and support from countries like India, helps customers such as GE and Citibank save up to 40% in costs. Indian companies such as TCS, Wipro and Infosys started using offshore outsourcing to their advantage around a decade ago by wooing customers with significant cost-benefits.
In recent months, about a dozen or so top professionals have left an Indian company to join multinational competitors. Padmanabhan Ananthanarayanan, who headed India’s largest software exporter TCS’ sales organisation in Europe until February this year, joined Accenture in March as director of its outsourcing business based in Germany.
Shishir Kumar and Vikas Baranwal quit TCS earlier this year to join Accenture as sales directors, Nimit Chawal and Dev Sharma joined Capgemini to lead the company’s sales team. Mr Sharma headed Wipro’s business development and account management for manufacturing and automotive customers in Germany until December last year, before becoming director, business development for Central Europe at Capgemini.
Sridhar Vedala, managing director of offshoring advisory firm Quantum Step, says global service providers are hiring more Indian professionals to influence the perception of customers who are looking at India and Indian professionals as synonyms for offshore outsourcing.
“Now when offshoring is in demand, obviously customers prefer Indian providers. In order to influence the perception, global providers are hiring Indian managers,” he observed.
Among such customers is the world’s largest chemical company BASF, which is seeking offshore suppliers to support its business IT systems and looking to commence a dialogue with Indian offshore managers. “Initially, global providers did not care about the competition from Indian providers. Probably, they never thought that Indian providers will be able to compete with them for larger deals,” he added.
A top executive at an Indian tech firm says many outsourcing dialogues these days are being spearheaded by Indian offshore delivery managers, unlike in the past, when local experts would help them gain access to a potential customer. “The chief information officers are specifically asking for Indian suppliers.”
The over $40-billion Indian software outsourcing industry derives almost 70-80% of its revenues from offshore outsourcing. While established outsourcing vendors, such as IBM and Accenture, still lead the market because of their early relationships and ‘onshore intimacy’ with large customers, several new outsourcing customers are now looking at pure offshoring, which is helping the Indian vendors.
“For all large application management deals, the question is no more offshore or no offshore, but how much to offshore and in some cases ‘why should anything be onshore anymore’,” said a person involved with decision-making at a large enterprise in Germany.
“This is such a contrast. Until a few months ago, some Indian companies were trying to hire more locals in Germany and France, but now customers are becoming more comfortable with Indian managers,” said a senior Indian professional based in Munich, Germany, who recently quit one of the top ten Indian software exporters to join an MNC rival.
Hema Ravichander, who was the head of human resources at Infosys and is now an independent consultant, says Indian professionals are highly valued because of their early offshoring experience.
“Speed, adaptability, networking, deep understanding of the competitor landscape make them valuable. Also, they have been there, done that; so they enjoy high credibility,” she said.
As offshore outsourcing goes mainstream, multinationals are hiring Indians to head their sales teams in key markets in Europe and the US, a shift from the practice of employing locals to win contracts.
“This is happening for several roles spanning from sales, sales support to delivery. There is in a sense, even positive discrimination towards Indians now,” an Indian executive who joined a multinational in Germany recently told ET on condition on anonymity.
Offshore outsourcing, or remote delivery of software application development, maintenance and support from countries like India, helps customers such as GE and Citibank save up to 40% in costs. Indian companies such as TCS, Wipro and Infosys started using offshore outsourcing to their advantage around a decade ago by wooing customers with significant cost-benefits.
In recent months, about a dozen or so top professionals have left an Indian company to join multinational competitors. Padmanabhan Ananthanarayanan, who headed India’s largest software exporter TCS’ sales organisation in Europe until February this year, joined Accenture in March as director of its outsourcing business based in Germany.
Shishir Kumar and Vikas Baranwal quit TCS earlier this year to join Accenture as sales directors, Nimit Chawal and Dev Sharma joined Capgemini to lead the company’s sales team. Mr Sharma headed Wipro’s business development and account management for manufacturing and automotive customers in Germany until December last year, before becoming director, business development for Central Europe at Capgemini.
Sridhar Vedala, managing director of offshoring advisory firm Quantum Step, says global service providers are hiring more Indian professionals to influence the perception of customers who are looking at India and Indian professionals as synonyms for offshore outsourcing.
“Now when offshoring is in demand, obviously customers prefer Indian providers. In order to influence the perception, global providers are hiring Indian managers,” he observed.
Among such customers is the world’s largest chemical company BASF, which is seeking offshore suppliers to support its business IT systems and looking to commence a dialogue with Indian offshore managers. “Initially, global providers did not care about the competition from Indian providers. Probably, they never thought that Indian providers will be able to compete with them for larger deals,” he added.
A top executive at an Indian tech firm says many outsourcing dialogues these days are being spearheaded by Indian offshore delivery managers, unlike in the past, when local experts would help them gain access to a potential customer. “The chief information officers are specifically asking for Indian suppliers.”
The over $40-billion Indian software outsourcing industry derives almost 70-80% of its revenues from offshore outsourcing. While established outsourcing vendors, such as IBM and Accenture, still lead the market because of their early relationships and ‘onshore intimacy’ with large customers, several new outsourcing customers are now looking at pure offshoring, which is helping the Indian vendors.
“For all large application management deals, the question is no more offshore or no offshore, but how much to offshore and in some cases ‘why should anything be onshore anymore’,” said a person involved with decision-making at a large enterprise in Germany.
“This is such a contrast. Until a few months ago, some Indian companies were trying to hire more locals in Germany and France, but now customers are becoming more comfortable with Indian managers,” said a senior Indian professional based in Munich, Germany, who recently quit one of the top ten Indian software exporters to join an MNC rival.
Hema Ravichander, who was the head of human resources at Infosys and is now an independent consultant, says Indian professionals are highly valued because of their early offshoring experience.
“Speed, adaptability, networking, deep understanding of the competitor landscape make them valuable. Also, they have been there, done that; so they enjoy high credibility,” she said.
What It Takes To Start A Call Centre Business
Today, any young entrepreneur who is getting into call centre business should understand that, he is entering into a commodity- like business.
Anyone who claims to offer innovative ideas regarding starting a call centre business is clearly not in the loop of the industry. One should accept the fact that, call centre business is not based on innovation but rather on strategies.
Given this, there are some people who go ahead with the proposition of call centre business. To start a call centre business you need to arrange for a certain amount of capital. After having finalized that you want to get into call centre business, it is imperative that you need the infrastructure in place. Then plan out for a core team to propel your business and around ten trained call centre agents to start the pilot process.
If any call centre firm has to make a mark in the call centre business, the focus should be on high-end quality. Any call centre business will excel if there are experienced people in the company. Accent neutralization and training in various situations is must. The message should be very clear in terms of handling a call. This is an intense business and there is no getting back after the call has been messed up.
The next is to register under STPI so as to get maximum benefit of duty free imports for all kinds of computer hardware. In addition to this, the other important requirements are carpet area, equipment, communication and manpower. The carpet area can range from 55-155 sq feet per agent and this depends on number of seats. It also depends on the number of services rendered by the centre.
You can estimate the total carpet area by planning the space for facilities, amenities and support areas. The communication or connectivity depends on the volume of traffic and services rendered by the call centre firm.
For example a 200- seat call centre will usually invest in a 2 Mbps international private leased circuit for inbound services. This will comprise of two half circuits in India and the other two in US or UK through an international carrier.
The manpower employed in call centre falls under two broad headings. These are operations or agent and management or support staff. The ratio between the two depends on variety of parameters based on organization, services deployed and the client requirement.
Next comes the technological needs, in terms of technical resources the following things are needed like a voice witch/EPABX, modems, routers, multiplexers ( for data and voice transport), RISC/CISC servers, headsets, desktops, IVR( Interactive Voice Response), E1/T1 circuits for connectivity, CTI( Computer Telephony Integration) and ACD( Automatic Call Distributor) are needed.
One can look up to spending $10,000 per agent for setting up a call centre that includes all types of expenses. The cost of maintenance for a seat would be around $4000-$5000 per year. The industry experts say that most of the operation costs will be two- third of their billings.
One thing which has been highlighted before is the consistent delivery of value services and no BPO firm should be generalist but should have an expertise in certain vertical. In terms of getting clients, the company should have a core team who have gone through a learning process in a call centre and the essential team of HR, Finance, Trainers and Operations in place.
Speaking in terms of return on investment, if a call centre business is managed efficiently, the entrepreneur can reap profits within two or three years in business. One more important aspect of this business is the attrition level of BPO industry. One should have proper recruitment plan in mind and should try to stick to it.
Anyone who claims to offer innovative ideas regarding starting a call centre business is clearly not in the loop of the industry. One should accept the fact that, call centre business is not based on innovation but rather on strategies.
Given this, there are some people who go ahead with the proposition of call centre business. To start a call centre business you need to arrange for a certain amount of capital. After having finalized that you want to get into call centre business, it is imperative that you need the infrastructure in place. Then plan out for a core team to propel your business and around ten trained call centre agents to start the pilot process.
If any call centre firm has to make a mark in the call centre business, the focus should be on high-end quality. Any call centre business will excel if there are experienced people in the company. Accent neutralization and training in various situations is must. The message should be very clear in terms of handling a call. This is an intense business and there is no getting back after the call has been messed up.
The next is to register under STPI so as to get maximum benefit of duty free imports for all kinds of computer hardware. In addition to this, the other important requirements are carpet area, equipment, communication and manpower. The carpet area can range from 55-155 sq feet per agent and this depends on number of seats. It also depends on the number of services rendered by the centre.
You can estimate the total carpet area by planning the space for facilities, amenities and support areas. The communication or connectivity depends on the volume of traffic and services rendered by the call centre firm.
For example a 200- seat call centre will usually invest in a 2 Mbps international private leased circuit for inbound services. This will comprise of two half circuits in India and the other two in US or UK through an international carrier.
The manpower employed in call centre falls under two broad headings. These are operations or agent and management or support staff. The ratio between the two depends on variety of parameters based on organization, services deployed and the client requirement.
Next comes the technological needs, in terms of technical resources the following things are needed like a voice witch/EPABX, modems, routers, multiplexers ( for data and voice transport), RISC/CISC servers, headsets, desktops, IVR( Interactive Voice Response), E1/T1 circuits for connectivity, CTI( Computer Telephony Integration) and ACD( Automatic Call Distributor) are needed.
One can look up to spending $10,000 per agent for setting up a call centre that includes all types of expenses. The cost of maintenance for a seat would be around $4000-$5000 per year. The industry experts say that most of the operation costs will be two- third of their billings.
One thing which has been highlighted before is the consistent delivery of value services and no BPO firm should be generalist but should have an expertise in certain vertical. In terms of getting clients, the company should have a core team who have gone through a learning process in a call centre and the essential team of HR, Finance, Trainers and Operations in place.
Speaking in terms of return on investment, if a call centre business is managed efficiently, the entrepreneur can reap profits within two or three years in business. One more important aspect of this business is the attrition level of BPO industry. One should have proper recruitment plan in mind and should try to stick to it.
Inbound Customer Service
Today many companies outsource their inbound customer services to an offshore call center. Most of the business owners have a hard time to give up the responsibility to their own employees, let alone an outsider. Customers are lifeline of any business and most of the companies value their esteemed customers. Most of the large business houses outsource the non-core aspects of their business after much thought and extensive research.
Today, the companies have realized that, customer service outsourcing is an important tool to boost sales and gain maximum revenues. While there are still many who are reluctant to outsource their inbound customer services. The truth is that in today's competitive business environment inbound customer service is smart choice. It allows companies to handle the important aspects of their business. Most of the reputed call centers have skilled work force. They are professional and are trained to handle calls proficiently which are needed to manage a business successfully.
Inbound customer service is important for retention of customers. Acquiring a new customer is seven times more costly than keeping the existing ones. An inbound customer representative understands the importance of customer relations and manages those relations in most professional manner. The call center services offered by an outsourcing firm is tailored to place the importance of customer service.
The inbound customer service offered by reputed call center is focused to make each customer a customer for life. A professional call center agent makes sure that each phone call that he or she handles results in something positive that your business can build upon. They play a pivotal role in making sure that the customers are satisfied with your product and services.
By outsourcing inbound customer service, a company actually increases the level of customer service. A call center has trained operators that are always available to handle customers need,concerns and problems. They process the requests of the customers as well as answer the queries of the customers related to the product or services. They also take all necessary action to resolve each and every issue so that the customers have unmatched level of satisfaction.
Today running a small or a large business is a daunting task. This is due to labor costs, recruiting problems and ever changing telecommunication equipment. At this time inbound customer service provides the basic ingredient for a company's success.
The call centres in India providing inbound customer service are well equipped with good infrastructure, highly qualified agents, security solutions and cutting edge technology.
The call centres in India have state-of-the-art multimedia centers that offer multichannel interaction through voice email, SMS and fax services. There is no doubt that Indian call centres can handle a range of outsourcing services.
Some of the inbound call centre services have specialization in appointment setting, research surveys, lead generation, debt collection, consumer response, dealer locators, direct mail response, email management services, help desk solutions, inquiry handling, interactive voice response, product technical information and telemarketing in verticals like mortgage, insurance, telecom industries. The inbound customer service includes order taking, technical support, customer service, answering service and help desk services.
Is Time to Fire Your Call Center?
Over the last decade call centers have become the anonymous faces of business. And though the call center business has grown by leaps and bounds the problem remains- the ANONYMOUS FACE. Inspite of personalization of call center scripts customers can instantly make out that the customer service representative from the company is actually from a call center.
Call Center Services have grown tremendously in the last decade. The reason is that companies are saving on the bottom line by cutting costs and outsourcing this work by opting for these services. The CCS faces a lot of challenges which surrounds customer experience. If you try find respond of customers of CCS, only one-third of them register positive responses! The agents have to shoulder responsibility not only to sell the products of the company but also establish brand equity for it through various channels. Some of the common problem of these services is high employee attrition, absenteeism, inconsistent answering performance and poor call quality. An often carefree attitude within a call center directly affects the overall performance of the call center.
A few of the service complaints of CCS are failure to resolve customer problems in one call, accumulation of clutter in reaching the appropriate representatives or to qualified supervisor if the problems not solved within five minutes of calling, failure to create credit among the customers especially in outsourced customer care centers. First of all, do not treat your CCS as cost cutting centers. Do not cut on training and quality control measures. In your haste to cut the cost you will lose on quality services to your customers and lose reputation and ultimately revenues. Improving the functioning of your call center must include these- efficient deployment and use of labor, effective leveraging of technology, capacity management, and demand management.
Coming to the internal functioning of CCS, there should be absolutely no lack of communication among the agents and customers. Only communicating through e-mails is not enough. It is easier and cost effective nowadays to be in touch trough the internet. Provide your account manager with as many voice interactions with the customer. Language and cultural difference of the customers is another problem in CCS. This problem needs certain contact points between the customer and service providers make way for smooth execution of any project. The offshore CCS has more problems with the accent of the customers. In this case it is advisable to go on a Live Chat. If any target is missed by the service providers, the party that will decide on the payment withholding needs to be defined frankly. This will assure that the service providers will never make frequent errors and will be extra careful.
The CCS should take extra care to keep its customers updated on a weekly basis. They should always feel they have got track of their project. It ensures less errors and hassles at the time of project delivery. Call centers generally lack leverage to invest in innovative technologies and strategies. Using knowledge base applications helps in managing the information load and keeps the agents up-to-date on the latest marketing based promotions. There are many communication applications such as Voice of the Customer (VOC) which helps to make the workforce more effective and reduce cost.
Greater effort should be make to encourage customer feedback through prompted questions and unstructured feedback which is then mined using speech analysis. You must absolutely make sure that your agents do not type when they are talking to the customer or take multiple calls and talk to more than one customer at a time. This will ensure that the agent is actually listening to the customer and 100% attention is given to the customer. Ongoing alignment is necessary because expectations are a moving target. Innovations, competitors' moves, and economic and social trends are some of the forces that cause continual morphing of customers' expectations. CCS is a consumer-centric business; this should kept in mind all the time.
All Call Centers should make themselves well equipped for call floods. At such times it happens that the calls are routed to inexperienced agents and results in consumer dissatisfaction or even frustration. Be pro-active and invent solutions for any imaginable situation at your center; make a strategy and develop a call routing strategy and test them in advance to cope with the actual problems when they arise.
There are many technical solutions available such as extension of voice of the customer program. You may also establish a call handling service, which would report about out of the service phone lines before the customer does! Make sure your agents can flag problems (such as slow pop-up windows or poor voice quality) during a call. If the quality has already deteriorated, it is no use rectifying the technical lapse later. You should also pay attention to forbid any fraud perpetuated by the agents which might involve false representation of data. There should be constant detecting of problems of the IVR systems.
The agents too need to have some fun and relaxation sessions. The call center management and employees should stay current all call center news and trends. Subscribe magazines or create a library shelving books and reports for the employees whereby they can increase their knowledge and skills. All this help in planning a customer service program that works for both their employees and customers. You will be able to address the customer needs all the time and making them happy even though they may not satisfied with the product or service. You may also subscribe to newsletters and whitepapers for the knowledge growth of the members of your Call Centre.
Call Center Services have grown tremendously in the last decade. The reason is that companies are saving on the bottom line by cutting costs and outsourcing this work by opting for these services. The CCS faces a lot of challenges which surrounds customer experience. If you try find respond of customers of CCS, only one-third of them register positive responses! The agents have to shoulder responsibility not only to sell the products of the company but also establish brand equity for it through various channels. Some of the common problem of these services is high employee attrition, absenteeism, inconsistent answering performance and poor call quality. An often carefree attitude within a call center directly affects the overall performance of the call center.
A few of the service complaints of CCS are failure to resolve customer problems in one call, accumulation of clutter in reaching the appropriate representatives or to qualified supervisor if the problems not solved within five minutes of calling, failure to create credit among the customers especially in outsourced customer care centers. First of all, do not treat your CCS as cost cutting centers. Do not cut on training and quality control measures. In your haste to cut the cost you will lose on quality services to your customers and lose reputation and ultimately revenues. Improving the functioning of your call center must include these- efficient deployment and use of labor, effective leveraging of technology, capacity management, and demand management.
Coming to the internal functioning of CCS, there should be absolutely no lack of communication among the agents and customers. Only communicating through e-mails is not enough. It is easier and cost effective nowadays to be in touch trough the internet. Provide your account manager with as many voice interactions with the customer. Language and cultural difference of the customers is another problem in CCS. This problem needs certain contact points between the customer and service providers make way for smooth execution of any project. The offshore CCS has more problems with the accent of the customers. In this case it is advisable to go on a Live Chat. If any target is missed by the service providers, the party that will decide on the payment withholding needs to be defined frankly. This will assure that the service providers will never make frequent errors and will be extra careful.
The CCS should take extra care to keep its customers updated on a weekly basis. They should always feel they have got track of their project. It ensures less errors and hassles at the time of project delivery. Call centers generally lack leverage to invest in innovative technologies and strategies. Using knowledge base applications helps in managing the information load and keeps the agents up-to-date on the latest marketing based promotions. There are many communication applications such as Voice of the Customer (VOC) which helps to make the workforce more effective and reduce cost.
Greater effort should be make to encourage customer feedback through prompted questions and unstructured feedback which is then mined using speech analysis. You must absolutely make sure that your agents do not type when they are talking to the customer or take multiple calls and talk to more than one customer at a time. This will ensure that the agent is actually listening to the customer and 100% attention is given to the customer. Ongoing alignment is necessary because expectations are a moving target. Innovations, competitors' moves, and economic and social trends are some of the forces that cause continual morphing of customers' expectations. CCS is a consumer-centric business; this should kept in mind all the time.
All Call Centers should make themselves well equipped for call floods. At such times it happens that the calls are routed to inexperienced agents and results in consumer dissatisfaction or even frustration. Be pro-active and invent solutions for any imaginable situation at your center; make a strategy and develop a call routing strategy and test them in advance to cope with the actual problems when they arise.
There are many technical solutions available such as extension of voice of the customer program. You may also establish a call handling service, which would report about out of the service phone lines before the customer does! Make sure your agents can flag problems (such as slow pop-up windows or poor voice quality) during a call. If the quality has already deteriorated, it is no use rectifying the technical lapse later. You should also pay attention to forbid any fraud perpetuated by the agents which might involve false representation of data. There should be constant detecting of problems of the IVR systems.
The agents too need to have some fun and relaxation sessions. The call center management and employees should stay current all call center news and trends. Subscribe magazines or create a library shelving books and reports for the employees whereby they can increase their knowledge and skills. All this help in planning a customer service program that works for both their employees and customers. You will be able to address the customer needs all the time and making them happy even though they may not satisfied with the product or service. You may also subscribe to newsletters and whitepapers for the knowledge growth of the members of your Call Centre.
US-Colombia deal 'not a threat'
US Secretary of State Hillary Clinton has sought to calm fears in Latin America about a planned new military agreement with Colombia.
Some countries in the region have expressed alarm over the US plans to use Colombian bases to combat drug traffickers and rebels.
But Mrs Clinton said the accord would respect Colombian sovereignty and other countries would not be affected.
It would not lead to a significant increase in US troop numbers, she said.
Speaking after talks in Washington with Colombian Foreign Minister Jaime Bermudez, Mrs Clinton said the agreement would not lead to the creation of US bases in Colombia.
"It does provide the United States access to Colombian bases but command and control, administration and security will be Colombia's responsibility," she said.
"Any US activity will have to be mutually agreed upon in advance. The United States does not have and does not seek bases inside Colombia."
She also said there would be "no significant permanent increase in the US military and contractor presence in Colombia" and that other countries would not be affected.
"This is about the bilateral co-operation between the United States and Colombia regarding security matters within Colombia," she said.
Regional benefit
Under the deal, the US military will be able to operate on Colombian soil to tackle drug-trafficking and terrorism.
Mrs Clinton said the threats were very real and that the US was "committed to supporting the government of Colombia in its efforts to provide security to all its citizens".
Mr Bermudez said developing "more effective mechanisms of co-operation" would benefit both Colombia and the region.
"We have suffered, and we have learned from the lessons as a result of this suffering," he said.
A number of countries in the region have condemned the plan and Argentina has called the agreement "not helpful".
Venezuelan President Hugo Chavez has expressed fears the move would amount to preparation for an invasion of his country by US forces.
Obama attacks insurance premiums
Speaking in Colorado, Mr Obama said that under his plan companies would not be allowed to charge exorbitant fees nor place arbitrary limits on coverage. Mr Obama is making a series of "town-hall" speeches to back his campaign. Extending coverage to the millions of Americans who lack health insurance is Mr Obama’s top priority for 2009. His reform plan is currently under debate in the US Congress. Some 46 million people in America currently do not have health insurance, and rising healthcare costs are a major contributing factor to America’s spiralling budget deficit.
‘No silver bullet’
Mr Obama said insurance companies had to be held accountable for practices that had led to premiums nearly doubling for the average American family over the past few years. HEALTHCARE IN THE US
46 million uninsured, 25 million under-insured
Healthcare costs represent 16% of GDP, almost twice OECD average
Reform plans would require all Americans to get insurance
Some propose public insurance option to compete with private insurers
Q&A: US healthcare reform
Anger clouds US healthcare debate
He said: "We’re going to ban arbitrary caps on benefits. We’ll place limits on how much you can charge on out-of-pocket expenses. No-one in America should go broke because they get sick."
Mr Obama admitted there was "no perfect painless silver bullet out there that solves every problem, gives everybody health care for free". But he said he had "a lot of really smart people around me who’ve been working on this for months now". Mr Obama also accused his political opponents of using scare tactics in their campaign against the reform. He added: "I need you to stand for hope. I need you to knock on doors. I need you to spread the word. Because we are going to get this done this year."
There remains serious disagreement in the US about how to go about reforming the healthcare system. Democrats in the House of Representatives have reportedly reached a deal on a bill that would mandate all Americans to take out health insurance, with subsidies for the less well-off paid for by a tax on families earning over $350,000 a year. But in the Senate negotiations have stalled, with moderate senators expressing opposition to both the tax and the public plan proposed by the House. Both chambers need to agree on a bill before it can become law.
India, The Most Preferred Destination For BPO Services: Know How?
The global organizations all over the world have always preferred India to outsource their non-core business services. Today, outsourcing BPO services in India has almost become a norm for many global companies. In fact, BPO services are one of the fast growing segments of Information Technology Enabled Services( ITES) industry. India has constantly been able to provide the growing demand for BPO services in terms of cost effectiveness and customer support contact centers.
Over the years, many call centers have mushroomed in India, because India has a huge array of working professionals. Most of the work force here, specializes in science and technology. BPO services also help in time management and proper use of resources. In other words, it can said that BPO services in India help organizations to improve their level of efficiency as well as effectiveness.
Most of the offshore clients outsource work to India due to multiple reasons. These have been summarized below :
- More number of English speaking tech-savvy professionals
- Expertise in all types of customer support services.
- Time zone advantages enables offshore clients with 24 -hour support services.
- Large, skilled and educated work force.
- Specialized BPO services
- Supportive and flexible Indian government policies.
- Equipped with latest technology and high end infrastructure.
- Cost-effective BPO services.
- Confidence and trust of global organizations
The common BPO services in India are as follows:
Inbound call center services
- Outbound call center services
- Order taking services
- Telemarketing services
- Technical help desk services
- Email support services
- Chat enabled services.
- Business transcription services
- Medical transcription services
- Human resource outsourcing
- Accounting services
BPO services in India is undergoing a sea change. This radical transformation has give rise to many new areas of outsourcing. The BPO services in India offer a wide range of cost-effective and quality driven services. Here are some of the new areas of BPO services in India.
- Research and analytics services
- Data entry services
- Financial services
- Engineering services
- E-learning solutions
- Creative services
- Web designing services
- Health care services
- E-governance services
- Retail services
- Pharmaceutical services and a host of other services
The BPO services is one of the fastest growing segments in India. BPO has also attracted huge number of youngsters to join the industry. Most of the young and sharp minds are willing to work in 24X7 environment. Most of the companies globally are looking India as a potential option because Indian companies have proved themselves with quality services and high end performance. Today, some of the world's big giants have their base in India. India has been the main hub for BPO services around the globe. Most of the successful BPO ventures have encouraged more and more companies to outsource their BPO services to India.
T Mobile UK outsource in INdia
T-Mobile UK has inked a five year outsourcing deal with the Indian firm Infosys BPO for its finance operations. Infosys will support T-Mobile’s core processes in its finance directorate, covering customer finance, commercial finance and accounting (F&A) and procurement operations. The move will leave T-Mobile to concentrate on financial issues that are “strategically important or which deliver competitive advantage”.
T-Mobile is under a burden of cost cutting as the parent company, Deutsche Telekom, posted a goodwill writedown of €1.8b
n for the UK operation in Q1, after which there have speculations that T-Mobile is looking to offload its UK business.
T-Mobile UK has inked a five year outsourcing deal with the Indian firm Infosys BPO for its finance operations. Infosys will support T-Mobile’s core processes in its finance directorate, covering customer finance, commercial finance and accounting (F&A) and procurement operations. The move will leave T-Mobile to concentrate on financial issues that are “strategically important or which deliver competitive advantage”.
T-Mobile is under a burden of cost cutting as the parent company, Deutsche Telekom, posted a goodwill writedown of €1.8bn for the UK operation in Q1, after which there have speculations that T-Mobile is looking to offload its UK business.
T-Mobile is under a burden of cost cutting as the parent company, Deutsche Telekom, posted a goodwill writedown of €1.8bn for the UK operation in Q1, after which there have speculations that T-Mobile is looking to offload its UK business.
Outsourcing Teaching, Overseas
How to teach university degree programs offered overseas is a complicated question. Does a university rely on faculty from the home campus to travel abroad for a year, semester or month at a time to teach, hire a new cadre of faculty at the overseas location, deliver coursework through distance education, or some combination thereof?
In offering B.S. in economics degrees at three partner universities in China and Hong Kong, Utah State University’s Jon M. Huntsman School of Business uses a different kind of teaching model, similar in some ways to the three approaches but with a significant, and potentially risky, twist. The programs are based on a lead professor/local facilitator model, in which the professors of record at Utah State rely on local instructors, who are not Utah State employees (but are approved by Utah State departments) to deliver much of the course content on the ground.
The degrees in question are Utah State degrees, as opposed to joint or dual degrees with the partner universities, and the arrangement is described in the business school's 2008-9 annual report thus: “Departments assign 'lead professors' to write the course syllabus, pick the text book and other instructional materials, and to write exams and other assignments for the course. The teaching materials are provided to 'local facilitators' (faculty at our partner institutions) who have been approved by the USU department to deliver the lectures and other course material on-site in China and Hong Kong. Lead professors and local facilitators are in contact each week to make sure that the courses are on-track and to deal with teaching and evaluation issues. Final grades are assigned by the lead professor.” In other words, the instructor who interacts with the students face-to-face on a regular basis doesn't have the ultimate grading authority, but the professor back in Utah does.
In the financial model, as outlined in that same report, “tuition for our students in Asia is shared equally between the Asia program and our partner institutions. The partners are responsible for providing the facilities, textbooks, and for paying the local facilitators. The Asia program in the Department of Economics and Finance and the Huntsman School of Business is responsible for providing lead professors, for counseling students, and for admitting, matriculating, and graduating students who meet the requirements, as well as for arranging visits to the Asian sites by lead professors and administrators."
Utah State’s B.S. in economics, with an emphasis on international economics and trade, is currently offered in English at three sites: the Beijing Institute of Technology, Northeast Dianli University, in Jilin City, and the Institute of Advanced Learning, in Hong Kong. In spring 2009, 560 students were enrolled; according to the annual report, the school expects to grow its Asian program enrollment to 800 students and, once a fourth program location is approved by the Chinese Ministry of Education, more than 1,000.
"One of the preconditions for us to get approval from the central Ministry of Education in China was that they required our program to have face-to-face instruction. One of the challenges U.S. universities have had extending their educational products to China is the high expense of maintaining their own faculty on site. So our model tries to leverage the design and review role of a senior faculty member with a local facilitator who is also a professor, and those professors who are local facilitators are approved by our departments," said Chris Fawson, senior associate dean and a professor of economics in the Huntsman School of Business.
“We think it’s a model that will help foster broader collaboration. While faculty are collaborating on preparing high-quality instructional materials, we hope that they’re collaborating on research interests,” Fawson said.
“Does everybody do that? Well, again, I couldn’t say that everybody does that, in [terms of] faculty that are mentoring graduate students who are teaching courses on our campus. But I can tell you our commitment… We talk about a high level of collaborative interaction, and we talk about our commitment to integrity and our commitment to quality. If I thought that we couldn’t do that, we would drop the program tomorrow, to be honest with you.”
Franchising Degrees?
Inside Higher Ed recently learned of the Huntsman School's degree programs in Asia via an anonymous e-mail, purportedly from a group of Utah State students and alumni with concerns; the extent of such concerns could not be verified.
In fact, some at Utah State see the Asia Degree Program as part of an exciting expansion of international opportunities. Adam Croshaw, a senior and the business school’s student senator last year, said fellow students did not bring any concerns to him during his tenure as their representative. “I haven’t heard much other than I know it exists and there’s excitement ... just because it’s a new thing. The Huntsman School of Business is trying to give their students a better opportunity to do things internationally because that’s the way business is going these days," he said.
Outside Utah, Philip G. Altbach, professor and director of Boston College’s Center for International Higher Education, said he was very skeptical of this particular model for promoting internationalization, however. “My view, and I am in a small minority on these matters I think, is that foreign degrees should be taught by faculty from the sponsoring university faculty, and not be random local scholars, even if they are ‘approved’ by the home campus faculty. What USU is really doing is ‘franchising’ their degree -- in a McDonald's way -- which is common especially among low prestige British universities in countries like Malaysia these days. Those British institutions have in some cases gotten themselves into hot water with the British quality assurance agencies and the press for low standards, inadequate supervision and the like. USU may well get into that bind,” he said in an e-mail.
Carving up Responsibilities, and Collaborating
Utah State has offered degree programs in China since 2000, but until 2008 operated the programs, then in interdisciplinary studies, through the university's continuing education unit. By narrowing the academic focus to economics, and moving the Asia Degree Program to the business school (which includes the economics department), administrators were both responding to student demand and moving to better safeguard the quality of the program, said Fawson. ”We've felt that degree programs that don't have a core academic home tend to lose their way a little bit. So it was a way to push a program back to college and a department, where the integrity of the academic foundation is grounded and anchored, so there is a reference point of what we are doing from a core academic perspective."
Fawson said the business school absorbed the Asia degree programs in part to serve the broader interests of the university, and also to expand its own footprint in China. "We're looking for opportunities to have high-quality positive engagement in China. We think there's a great ability to build up some brand equity in China and to build a strong alumni base," he said.
In describing the nuts and bolts of the program, Fawson described a lively virtual exchange between lead professor and local facilitator, and also a physical flow of faculty: “Their professors come and spend a whole semester on our campus… And then our professors historically have gone on two-or three-week trips where they actually sit in on classes and observe the classes." Not all local facilitators come to Utah State, but Fawson estimates that about 30 local facilitators, two to five in any given year, have traveled to Utah State in total.
The local facilitators, he said, mostly are faculty with appointments in the partner institutions, although not universally. Not everyone has a Ph.D. – “there’s a strong business orientation to what we’re doing … but they would go through the same kind of screening process that a faculty member would go through here to be approved as a local facilitator.”
In terms of how the Utah State professor assigns a final grade in a course facilitated by a non-Utah State employee, Fawson said, “There’s hopefully [been] lively interaction between the lead professors and local facilitators. I’m sure that there is some variation between how lead professors are interacting with local facilitators, but our expectation is that lead professors take this very seriously.
“There’s a sense of professional responsibility and accountability that comes with that assignment.”
Terry Glover, a professor of economics at Utah State, has served as a lead professor for about seven years, he said, and has experienced the upside and the challenges of this kind of collaboration. “You try to hang onto the local facilitators for some years, because you develop a working relationship and such,” he said, adding that some local facilitators have collaborated with him on data collection and research. “Not only is it a teaching partnership but a research partnership as well.” On the other hand, he’s twice recommended that local facilitators try a different career and those instructors, he said, did not return.
Glover also periodically travels to the partner institutions' campuses, and takes advantage of the ability to do some face-to-face teaching while he's there. He maintains a heavy teaching load, typically teaching two courses each semester at Utah State, and taking on another 3-2 load as lead professor in Asia degree program courses. “Essentially now in the last couple of years, we’ve developed more of a partnership. It used to be Utah State and then the step-cousin, but now it’s a joint kind of partnership,” said Glover.
The model represents an improvement on distance education, Glover said, which is "not our mold"
Instead, “You’ve got someone there, with them, who knows the program, has communicated with me and such, and they know that the two instructors are attuned to each other.... I get lots of e-mails from students and I e-mail them back."
The Huntsman School of Business is accredited by the Association to Advance Collegiate Schools of Business, but the economics department, while housed in the business school, is outside the accreditor's purview. "This program is not an AACSB-accredited program; therefore, none of our standards come into play," said Jerry Trapnell, AACSB International's vice president and chief accreditation officer. That said, Trapnell added, "We see programs delivered in a lot of models.... We've seen similar models to this, sure, where the delivery mode at the remote site is facilitated, assisted or delivered through arrangements with the local faculty. Again, the key is to having very good expectations and understanding of the quality of that faculty, their background, and then the strong communication at work between the Utah State faculty and the faculty there.
"I'll be clear. There are risks there, that essentially they are delegating to someone else to deliver their program," Trapnell said."They're trying to manage that carefully, I'm sure.
“It’s an innovative model, and I expect that as schools seek ways to work internationally, these models will continue to be fairly diverse."
“It looks as if the proposed breakdown of responsibilities is an effort at quality control,” said Andrew Ross, a professor of social and cultural analysis at New York University who has written about branch campuses and the academic workplace. “However, it also shows how globalization hastens on the way in which professorial work can be broken down and reassigned to cheaper and more remote locations. In the twentieth century, professions were able to distinguish themselves from industrial labor process by resisting efforts to separate the conception and execution of tasks. This is an example precisely of that division of labor. It points in the direction of the routinization, at offshore locations, of instruction, while retaining the higher-level tasks onshore
In offering B.S. in economics degrees at three partner universities in China and Hong Kong, Utah State University’s Jon M. Huntsman School of Business uses a different kind of teaching model, similar in some ways to the three approaches but with a significant, and potentially risky, twist. The programs are based on a lead professor/local facilitator model, in which the professors of record at Utah State rely on local instructors, who are not Utah State employees (but are approved by Utah State departments) to deliver much of the course content on the ground.
The degrees in question are Utah State degrees, as opposed to joint or dual degrees with the partner universities, and the arrangement is described in the business school's 2008-9 annual report thus: “Departments assign 'lead professors' to write the course syllabus, pick the text book and other instructional materials, and to write exams and other assignments for the course. The teaching materials are provided to 'local facilitators' (faculty at our partner institutions) who have been approved by the USU department to deliver the lectures and other course material on-site in China and Hong Kong. Lead professors and local facilitators are in contact each week to make sure that the courses are on-track and to deal with teaching and evaluation issues. Final grades are assigned by the lead professor.” In other words, the instructor who interacts with the students face-to-face on a regular basis doesn't have the ultimate grading authority, but the professor back in Utah does.
In the financial model, as outlined in that same report, “tuition for our students in Asia is shared equally between the Asia program and our partner institutions. The partners are responsible for providing the facilities, textbooks, and for paying the local facilitators. The Asia program in the Department of Economics and Finance and the Huntsman School of Business is responsible for providing lead professors, for counseling students, and for admitting, matriculating, and graduating students who meet the requirements, as well as for arranging visits to the Asian sites by lead professors and administrators."
Utah State’s B.S. in economics, with an emphasis on international economics and trade, is currently offered in English at three sites: the Beijing Institute of Technology, Northeast Dianli University, in Jilin City, and the Institute of Advanced Learning, in Hong Kong. In spring 2009, 560 students were enrolled; according to the annual report, the school expects to grow its Asian program enrollment to 800 students and, once a fourth program location is approved by the Chinese Ministry of Education, more than 1,000.
"One of the preconditions for us to get approval from the central Ministry of Education in China was that they required our program to have face-to-face instruction. One of the challenges U.S. universities have had extending their educational products to China is the high expense of maintaining their own faculty on site. So our model tries to leverage the design and review role of a senior faculty member with a local facilitator who is also a professor, and those professors who are local facilitators are approved by our departments," said Chris Fawson, senior associate dean and a professor of economics in the Huntsman School of Business.
“We think it’s a model that will help foster broader collaboration. While faculty are collaborating on preparing high-quality instructional materials, we hope that they’re collaborating on research interests,” Fawson said.
“Does everybody do that? Well, again, I couldn’t say that everybody does that, in [terms of] faculty that are mentoring graduate students who are teaching courses on our campus. But I can tell you our commitment… We talk about a high level of collaborative interaction, and we talk about our commitment to integrity and our commitment to quality. If I thought that we couldn’t do that, we would drop the program tomorrow, to be honest with you.”
Franchising Degrees?
Inside Higher Ed recently learned of the Huntsman School's degree programs in Asia via an anonymous e-mail, purportedly from a group of Utah State students and alumni with concerns; the extent of such concerns could not be verified.
In fact, some at Utah State see the Asia Degree Program as part of an exciting expansion of international opportunities. Adam Croshaw, a senior and the business school’s student senator last year, said fellow students did not bring any concerns to him during his tenure as their representative. “I haven’t heard much other than I know it exists and there’s excitement ... just because it’s a new thing. The Huntsman School of Business is trying to give their students a better opportunity to do things internationally because that’s the way business is going these days," he said.
Outside Utah, Philip G. Altbach, professor and director of Boston College’s Center for International Higher Education, said he was very skeptical of this particular model for promoting internationalization, however. “My view, and I am in a small minority on these matters I think, is that foreign degrees should be taught by faculty from the sponsoring university faculty, and not be random local scholars, even if they are ‘approved’ by the home campus faculty. What USU is really doing is ‘franchising’ their degree -- in a McDonald's way -- which is common especially among low prestige British universities in countries like Malaysia these days. Those British institutions have in some cases gotten themselves into hot water with the British quality assurance agencies and the press for low standards, inadequate supervision and the like. USU may well get into that bind,” he said in an e-mail.
Carving up Responsibilities, and Collaborating
Utah State has offered degree programs in China since 2000, but until 2008 operated the programs, then in interdisciplinary studies, through the university's continuing education unit. By narrowing the academic focus to economics, and moving the Asia Degree Program to the business school (which includes the economics department), administrators were both responding to student demand and moving to better safeguard the quality of the program, said Fawson. ”We've felt that degree programs that don't have a core academic home tend to lose their way a little bit. So it was a way to push a program back to college and a department, where the integrity of the academic foundation is grounded and anchored, so there is a reference point of what we are doing from a core academic perspective."
Fawson said the business school absorbed the Asia degree programs in part to serve the broader interests of the university, and also to expand its own footprint in China. "We're looking for opportunities to have high-quality positive engagement in China. We think there's a great ability to build up some brand equity in China and to build a strong alumni base," he said.
In describing the nuts and bolts of the program, Fawson described a lively virtual exchange between lead professor and local facilitator, and also a physical flow of faculty: “Their professors come and spend a whole semester on our campus… And then our professors historically have gone on two-or three-week trips where they actually sit in on classes and observe the classes." Not all local facilitators come to Utah State, but Fawson estimates that about 30 local facilitators, two to five in any given year, have traveled to Utah State in total.
The local facilitators, he said, mostly are faculty with appointments in the partner institutions, although not universally. Not everyone has a Ph.D. – “there’s a strong business orientation to what we’re doing … but they would go through the same kind of screening process that a faculty member would go through here to be approved as a local facilitator.”
In terms of how the Utah State professor assigns a final grade in a course facilitated by a non-Utah State employee, Fawson said, “There’s hopefully [been] lively interaction between the lead professors and local facilitators. I’m sure that there is some variation between how lead professors are interacting with local facilitators, but our expectation is that lead professors take this very seriously.
“There’s a sense of professional responsibility and accountability that comes with that assignment.”
Terry Glover, a professor of economics at Utah State, has served as a lead professor for about seven years, he said, and has experienced the upside and the challenges of this kind of collaboration. “You try to hang onto the local facilitators for some years, because you develop a working relationship and such,” he said, adding that some local facilitators have collaborated with him on data collection and research. “Not only is it a teaching partnership but a research partnership as well.” On the other hand, he’s twice recommended that local facilitators try a different career and those instructors, he said, did not return.
Glover also periodically travels to the partner institutions' campuses, and takes advantage of the ability to do some face-to-face teaching while he's there. He maintains a heavy teaching load, typically teaching two courses each semester at Utah State, and taking on another 3-2 load as lead professor in Asia degree program courses. “Essentially now in the last couple of years, we’ve developed more of a partnership. It used to be Utah State and then the step-cousin, but now it’s a joint kind of partnership,” said Glover.
The model represents an improvement on distance education, Glover said, which is "not our mold"
Instead, “You’ve got someone there, with them, who knows the program, has communicated with me and such, and they know that the two instructors are attuned to each other.... I get lots of e-mails from students and I e-mail them back."
The Huntsman School of Business is accredited by the Association to Advance Collegiate Schools of Business, but the economics department, while housed in the business school, is outside the accreditor's purview. "This program is not an AACSB-accredited program; therefore, none of our standards come into play," said Jerry Trapnell, AACSB International's vice president and chief accreditation officer. That said, Trapnell added, "We see programs delivered in a lot of models.... We've seen similar models to this, sure, where the delivery mode at the remote site is facilitated, assisted or delivered through arrangements with the local faculty. Again, the key is to having very good expectations and understanding of the quality of that faculty, their background, and then the strong communication at work between the Utah State faculty and the faculty there.
"I'll be clear. There are risks there, that essentially they are delegating to someone else to deliver their program," Trapnell said."They're trying to manage that carefully, I'm sure.
“It’s an innovative model, and I expect that as schools seek ways to work internationally, these models will continue to be fairly diverse."
“It looks as if the proposed breakdown of responsibilities is an effort at quality control,” said Andrew Ross, a professor of social and cultural analysis at New York University who has written about branch campuses and the academic workplace. “However, it also shows how globalization hastens on the way in which professorial work can be broken down and reassigned to cheaper and more remote locations. In the twentieth century, professions were able to distinguish themselves from industrial labor process by resisting efforts to separate the conception and execution of tasks. This is an example precisely of that division of labor. It points in the direction of the routinization, at offshore locations, of instruction, while retaining the higher-level tasks onshore
Cisco profits fall 46% but beats forecast
Cisco Systems said on Wednesday that earnings fell 46 per cent in its latest quarter, but the profit beat Wall Street expectations. Cisco chief executive John Chambers said business conditions were improving for the world's largest network equipment manufacturer but he cautioned that it was too soon to call a recovery, dragging its shares down 3 per cent.
'We saw a number of positive signs this quarter in the economy and in our business,' Mr Chambers said in a statement. He added that if trends keep improving, there's a good chance the latest quarter was a 'tipping point'.
'While this is a very important trend, I would want to see the sequential trends continue for several more quarters before we'd be comfortable with saying that we are returning to normal business momentum,' he told analysts on a call. Cisco is one of the first large-cap technology companies to report results that include sales from most of July, making it an early indicator of trends in technology spending. Cisco has seen sales hit hard as clients delayed investments and capital improvements. However, good profit margins and a large pile of cash have helped it ride out the downturn.
The company posted a profit of US$1.1 billion, or 19 US cents per share, for the fiscal fourth quarter, which ended July 25. That was down from US$2 billion, or 33 cents per share, in the same quarter last year. Sales fell 18 per cent to US$8.5 billion. Excluding the cost of stock-based compensation and other items, Cisco's earnings were 31 cents per share. Analysts polled by Thomson Reuters were expecting earnings of 29 cents per share on US$8.5 billion in revenue. Cisco's revenue outlook was mostly in line with Wall Street's expectations and profit for the July quarter exceeded forecasts. But the CEO's cautious remarks disappointed those who sought a stronger declaration that global technology spending was on the mend. Analysts said his comments made sense amid mixed economic data, but likely let down investors who have been betting on a recovery in technology demand. 'When he qualified that statement and said we've got to wait and see for several more quarters, I think maybe that was a little more conservative than what the Street wanted to hear,' said Ronald Gruia, an analyst with Frost & Sullivan.
Cisco said it expects fiscal first-quarter revenue to fall by 15 to 17 per cent from a year earlier. That was in line with expectations for a drop of about 16 per cent, according to Reuters Estimates. That outlook represented a quarter-on-quarter rise of one to 3 per cent, a key improvement after a steep quarter-on-quarter decline in sales earlier in the year. Many analysts, including RBC Capital Markets analyst Mark Sue, saw the results and Chambers' comments as positive.
'The confidence from increased bookings and orders should be welcome news to long-term investors,' he said. 'Things are improving even though I don't think John Chambers wants to wave a green flag just yet.' Shares in Cisco initially rose about 3 per cent after its quarterly results slightly beat expectations and Mr Chambers said in an earlier statement that he saw 'positive signs' in economic and order trends. After Mr Chambers' comments on the call, the stock backpedalled to US$21.51. Cisco shares had closed at US$22.17 on Nasdaq.
New Sony e-book reader $100 cheaper than Kindle
Electronic books are often mentioned in the same breath as Amazon.com Inc.'s Kindle digital reader. Now e-book rival Sony Corp. is determined to recapture consumers' attention with a smaller reader that's also $100 cheaper. On Wednesday, Sony is expected to announce that it will release the Reader Pocket Edition by the end of August. Like the Kindle and Sony's previous Readers, the Pocket Edition will come with an "electronic ink" display, which shows dark gray text on a lighter gray background. As the word "pocket" implies, its five-inch screen will be smaller than that on the Kindle and other Sony models.
Unlike other Readers, the Pocket Edition won't play digital music files, and it won't have a slot for a memory card to supplement internal storage that can hold 350 books. It will retail for $199, a third off the price of the basic Kindle model and about $80 less than Sony's PRS-505 reader, which will be discontinued. Color choices include blue, red and silver. The device is entering a small but growing market. U.S. e-book sales totaled $113 million last year -- up 68 percent from 2007 but still a fraction of the estimated $24.3 billion spent on all books, according to the Association of American Publishers.
Steve Haber, president of Sony's Digital Reading Business Division, expects the Pocket Edition's price tag will lure new consumers who haven't wanted to shell out for such a device thus far. And he's not worried that the Pocket Edition's chances for success will be diminished by the rising popularity of reading e-books on smart phones like the iPhone and BlackBerrys.
"Once you see it, it's been a consistent response of, 'That's cool,'" he said. Sarah Rotman Epps, a media analyst at Forrester Research, said the Pocket Edition's price below $200 breaks an important psychological barrier.
"This is something that is affordable for the holiday season, and I think that you'll see sales of e-readers outpacing current forecasts," she said.
Her current forecast calls for sales of 2 million digital reading devices this year; she said a little more than 1 million were sold by the end of 2008.
She doesn't expect Amazon to rest on its laurels, adding that the online retailer will have to respond to counter Sony's new price point.
Sony is also announcing on Wednesday the release of a $299 touch-screen model to replace its existing $350 touch-screen PRS-700. The Touch Edition will have the same six-inch (15-centimeter) screen as its predecessor but not the PRS-700's built-in light. Haber said removing the light will correct some screen clarity problems it has caused.
With the PRS-700, users can highlight text and take notes with a touch-screen keyboard. On the new model, users also can write notes with a finger or a stylus that is included.
The new model has a built-in dictionary and is faster at changing pages when readers swipe a finger across the screen. It will sell in red, silver or black and can hold 350 books in its built-in memory or more on a memory card.
A big difference between Sony's Readers and Amazon's Kindle has always been the lack of wireless access for quick and simple downloads of books. The new models are no different: They have to be connected to a computer to acquire books.
For the first time, they will be compatible with PCs and Mac computers, though. Sony will offer current Reader owners a software update to make theirs compatible with both.
As he has indicated in the past, Haber said Sony is working on a wireless model, though he wouldn't say when.
Sony also is adjusting prices to some of the e-books it sells through its online eBook Store. New releases and best-sellers will now sell for $10, $2 less than current prices. Amazon's Kindle Store offers most best-sellers and new releases for $10.
Sony's eBook Store includes more than 100,000 books, as well as a million free public-domain books available from Google Inc. through its Google Books project. The Kindle Store currently has more than 330,000 available titles.
The Kindle can only download books from Amazon's store, while Sony's Readers can display texts sold in the "epub" format -- an open standard supported by the International Digital Publishing Forum that numerous publishers use to make e-books.
Pune, Ahmedabad, Chandigarh may spin miracles
Projecting India's small towns and cities as better investment destinations, an Indo-UK trade body said Pune, Ahmedabad and Chandigarh among others are more likely to produce economic miracles on the back of a growing middle-class.
Pune IT Park
India is increasingly seen as a source of value-added goods and services and an important business partner, the UK India Business Council (UKIBC), which promotes trade between the two countries said in a report released here.
The report, "Emerging Cities of India", identifies Pune, Ahmedabad, Chandigarh and Jaipur as the top four emerging cities followed by Vadodara, Goa, Indore, Kochi and Nagpur.
While India's urban giants may dominate the business agenda in the short-term due to the sheer size of their human capital clusters...We believe it is the country's lesser known small towns and cities that are more likely to produce the economic miracles.
Pune IT ParkIndia is increasingly seen as a source of value-added goods and services and an important business partner, the UK India Business Council (UKIBC), which promotes trade between the two countries said in a report released here.
The report, "Emerging Cities of India", identifies Pune, Ahmedabad, Chandigarh and Jaipur as the top four emerging cities followed by Vadodara, Goa, Indore, Kochi and Nagpur.
While India's urban giants may dominate the business agenda in the short-term due to the sheer size of their human capital clusters...We believe it is the country's lesser known small towns and cities that are more likely to produce the economic miracles.
Tips to grow your business
Finding new customers is an expensive business which is why it pays to invest in hanging onto your existing clients. Good service can also give small companies a lead over their bigger rivals. Great service can do wonders for your business.
Talk to your customers 
Research shows that businesses spend six times as much on recruiting a new customer as they do on retaining an existing one. Every business - no matter how small - should have a strategy for dealing with customers. Listening to customers can help in all areas of your business from developing new products to finding out more about your competitors.
- Decide how and when to communicate with customers - by newsletter, telephone, e-mail or questionnaire, at point of sale or delivery, or as a post-sale follow-up;
- Encourage staff to record feedback from customers;
- Keep talking to your customers - their opinions will alter over time;
- Tell customers of any important changes that will affect them. If you warn them of a possible problem in advance they will be able to adapt more easily.
According to the Government's Small Business Service some of the things customers find most annoying include:
- Talking to a recorded telephone message, being held in a queue or paying premium rates for advice;
- Having their consumer rights ignored - such as being refused a refund for faulty goods;
- Bureaucracy;
- Rude or over-friendly staff - both are equally irritating;
- Staff who refuse to tell you their name;
- Broken promises;
- Inflexible delivery times.
Let staff take control
Have a measurable standard of service and make sure that staff work towards it. Invest in training so that everyone is aware of the importance of customer care. Remind staff to put themselves in the customer's shoes: would you like someone you've just met to call you by your first name, how would you feel if your order went missing?
Encourage employees to use their initiative and let the rest of the business know when something has worked well - or if it hasn't. Taking immediate action - for example sending a disgruntled customer a bottle of champagne - can prove more cost-effective than waiting to write them a formal letterReliability is good for fashion business
Reliability is good for business - 1,000 brands from 26 countries present their 2010 Spring/Summer collections at the 13th CPM – Collection Première Moscow Strong demand for information still present in Russian garment retail Attractive sales markets with potential are more in demand today than ever before. This also applies to the international garment industry. Russia is still among the countries that look forward to a bright future based on the economic forecasts. Russia experts agree:Anyone wishing to benefit from tomorrow's economic upswing should lay the fundamentals for his business today. With their first participation at the 13th CPM – Collection Première Moscow, the German premium label Marc Cain delivers a clear statement to the Russian market: 'Marc Cain is betting on markets with potential," explains Distribution Director Norbert Lock. "While we do already have numerous customers in Russia, it is a good time to expand our customer base. We are swimming against the current. Russia remains an important market and CPM is an ideal platform for presenting our label and reaching out to new customers from across the country."
Business ideas in recession market
This is the recession time in almost all parts of the country and in this recession period, we can easily notice that the stock market is falling and the thousands of jobs are being lost. In this bad patch, No one wants to invest in this market to open a new business. But if you watch this market closely then you will find that this is also one of the best time to make profit if you are watching the market closely.To start a new home business at this period of time is really a risk factor and very scary but at least you should have a back up plan like home business so all of the sudden if you loose the job then you have the option of home business.
Here, I am providing you 5 relatively plan for money making home business. I am not sure whether these ideas will give you the profit or not but according to me these are the best possible choices. And the 5 ideas are as follows:
- 1. Internet Marketing Services
- 2. Home Staging Home Business
- 3. Medical Billing
- 4. Virtual Assistant
- 5. eBay Trading Assistant
2. Home Staging Home Business : It's a very low cost business. You don't have to spend lot for that. All you need is to learn or gather information about interior designing on the weekends. Then you can be a good Interior designer. This buiness is more useful for the females than males. Who knows, if this business grow rapidly then you will be decison maker whether you should continue your present job or not. Real estate agents & houose lenders may also be very useful contacts for anyone who are engaged in this kind of recession resistant home business.
3. Medical Billing : I think that it would be very promising if you chose medical billing career. You have the option of both either as a home business or as a work from home medical billing job. In a poor economy situation, lots of medical providers still looking for handling their billing details & health care. This is where you have the potential to make huge money.
4. Virtual Assistant : The Virtual Assistant is known as VA industry. It's a industry which is growing very fast and it's becoming a useful for those who want to run their own new home business.
5. eBay Trading Assistant : eBay Trading Assistants help hundred of people to sell their items at ebay and earn a lot. You can also sell the unused items at your home. Just simply visit the site and login with your name and bank details. You can also sell those items which are found only at your place.
Hope you liked my 5 ideas. if you have also some ideas to share then you can share it throgh your comments.
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