Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Fast <keyword id="2842313" type="UNKNOWN" weightage="20" keywordseo="Expanding-Markets">Expanding Markets</keyword> (<keyword id="63066" type="ORGANIZATION" weightage="20" keywordseo="Fem">FEM</keyword>), as a new unit of measure, are micro economic indicators which demonstrate the health of a nano economy, based on an exponential acceleration, over a prolonged period of time. These indicators are often hidden in the nuances of macro economic and regression analysis, as we have been doing, in the good old way of thinking where business opportunities are located. It is by looking at our current society in India, that we remind ourselves that Indians traditionally and culturally are known to have a sweet tooth. In the festival of Diwali, probably the biggest festival in the Indian calendar, a long-standing tradition is one of exchanging mithai, the Hindi word for sweets. 
 
Globalization may mean macro changes and yet the micro changes may have macro effects. In more recent times, the traditional mithai shops have taken a hit; Indians seem to be showing a departure in taste palates in favour of the more modern, neatly packed chocolate boxes. These sugary delights especially packaged for Diwali are available anywhere, in the price range of USD 1.5 to USD 100 and more, form the affordable to for the affluent. 
 While <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> rates in India have taken a hit in the last three years, and the current budget demonstrates even more concern on the ability to stick to a growing curve, or at least maintaining curve. But while the GDP dilemma is keeping policy makers awake at night, there is one industry, relatively new in its current scale, which is booming, and the growth story is far from complete. 
 
To put things in perspective, the chocolate industry is growing at a rate of nearly 3x that of GDP. Such spiralling high growth rates lead us to believe that the chocolate industry may in fact be a good example of FEM. 
 
Outline India, a research start-up focusing on field data collection within the socio–economic domain, took on this study under their guidance to explore if this was indeed the case, and the result can be summarized in the below infographics. 
 
 
 
India’s current chocolate consumption pattern suggests very low per capita levels of around 1.2 owing to few traditional players and high import tariffs on import of chocolates. This however, leaves ample scope in terms of change in domestic production and consumption rates. To bolster this argument, India’s hot and humid climate is conducive to cocoa production, key to the chocolate industry. As of 2011, India is also the largest milk producer in the world. With the middle class growing, average incomes rising and information asymmetry levels going down, consumers are more aware than ever before, about available choices to them. With more cultural exposure and an urge to appear more western in terms of behaviour and at par with the international consumer, levels of chocolate consumptions are rising, especially among urban Indians. Also cited are health reasons that favour chocolates over the more the more traditional Indian sweets. A majority of these savouries, house a higher number of calories and shorter shelf lives. No longer is chocolate considered a ‘luxury item’ or one meant only for ‘special occasions’. 
 
In terms of what may prove to be a dampener? On the supply side, there have been numerous hurdles; the most important being bad connectivity and infrastructure. As a solution, a majority of the chocolate factories sprung up on the outskirts of big city centres, which were also best entry points for producers. A keen effort is being made to improve supply side channels to ease distribution. For instance, breaking away from the traditional supermarkets and discount stores, the big names such as Ferrero Rocher and Mars are trying to integrate into the lives of the upper middle class Indians by becoming available at the more accessible and approachable grocery stores. Local producers like <keyword id="29464" type="PERSON" weightage="20" keywordseo="Parle">Parle</keyword> and <keyword id="6357073" type="ORGANIZATION" weightage="20" keywordseo="ITC">ITC</keyword> with expansive distribution network are targeting the lower middle class as well, with a wider range of offerings via their pre-existing mom and pop stores or Kirana shops distribution networks. 
 
While the chocolate industry grows at 15% annually, projections put the expected market size at USD 2.8 billion by 2015 and USD 3.2 billion by 2018. 
Current market penetration rates are as low as 6 to 7 % at household level and about 22% in cities. This leaves scope for much change. 
 
One of the best known ad campaigns in the industry by Cadbury read, “Khane ke baad kuch mitha ho jaaye” which translates to Grab something sweet after a meal, only this time, the company was pitching a chocolate, breaking into and away from the traditional Indian household mindset which correlates sweet with mithai. The big guns are going the extra mile to suit the Indian consumer; <keyword id="75190" type="CITY" weightage="20" keywordseo="Nestle">Nestle</keyword> for instance launched a sweeter version of dark chocolate in India. Kraft is looking to invest USD 400 million for cocoa production in India in this decade. GDP may not be the brightest piece of headlines in these days, but while the macro arena gets engaged on issues of aggregate nature, there are small, powerful and fast moving markets, which are creating an entirely new “indian” concept of growth. 
 
((Dr. Amit Kapoor is President and CEO of <keyword id="2773756" type="UNKNOWN" weightage="20" keywordseo="India-Council-on-Competitiveness-and-Honorary">India Council on Competitiveness and Honorary</keyword> Chairman of Institute for Competitiveness, India. He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The piece is co-authored with <keyword id="2842315" type="UNKNOWN" weightage="20" keywordseo="Mark-Esposito">Mark Esposito</keyword> and <keyword id="2842314" type="UNKNOWN" weightage="20" keywordseo="Terence-Tse">Terence Tse</keyword>)

Fast Expanding Markets in India

<div class="KonaFilter image-container float_right"><div class="image">Justin Sullivan/Getty Images</div></div>Resumes have long been the standard starting point for hiring managers searching for top job candidates. 
But as it turns out, they might not be the best indicators of which applicants deserve a second glance. 
In a <a href="http://blogs.hbr.org/2014/07/resumes-are-messing-up-hiring/">blog post</a> for the Harvard Business Review, Terence Tse, Mark Esposito, and Olaf Groth argue that resumes and CVs don't identify the most important qualities companies should look for in leaders. 
"Resumes generally don't distinguish between skills (knowing how to do something) and competencies (doing it really well and with great reliability and ease)," they write. 
While resumes still serve as great records of candidates' achievements and skill sets, they place too much emphasis on grades, university reputations, and prior work experience, Tse, Esposito, and Groth say. They contend that in many cases these criteria favor applicants from wealthy backgrounds who can afford to attend expensive universities and take unpaid internships. 
This not only hurts qualified candidates from less affluent backgrounds, but also limits recruiters' opportunities by narrowing the talent pool they draw from. To combat this, Tse, Esposito, and Groth suggest implementing strategies that test the competencies of candidates instead of simply reviewing a list of their past accomplishments. 
For example, London-based startup Seedcamp uses psychographic information, such as personality traits and outside interests, to predict which teams will be most successful. Similarly, IBM reviews candidates' social media and web presence.
Tse, Esposito, and Groth also point to resources like <a href="http://www.saberr.com/">Saberr</a>, which uses algorithms to forecast how well new hires will fit in at a certain company. To accomplish this, Saberr administers surveys to both employers and potential hires that focus on soft skills and "predict how strong the interpersonal relationship between applicants and the potential employer can become." 
Companies like <a href="http://quid.com/">Quid</a>, which analyze where individuals spend the most time and energy online, could also serve as valuable tools by showing recruiters where candidates dedicate their "professional energies," Tse, Esposito, and Groth say. 
Resumes aren't going anywhere - they still provide several valuable insights into a candidate's skills and background - but other technologies and strategies could change the face of recruiting. Using the resume as a secondary tool in weeding out potential hires levels the playing field for applicants and provides recruiters with better ways to find the strongest choices.
Click <a href="http://blogs.hbr.org/2014/07/resumes-are-messing-up-hiring/" target="_blank">here</a> to read the full HBR blog post.
Want your business advice featured in Instant MBA? Submit your tips to <a href="mailto:tipoftheday@businessinsider.com">tipoftheday@businessinsider.com</a>. Be sure to include your name, your job title, and a photo of yourself in your email.

You Searched For "Terence Tse" and got 2 results

Fast Expanding Markets in India

Amit Kapoor

Here's Why Hiring Managers Should Stop Looking At Resumes

Emmie Martin

Popular Keywords

Buying Guides