Cut-throat competition and management reshuffles make the road bumpy for Flipkart
When the CEO of a company openly admits his poor performance, everyone knows there is something wrong with the company. Sachin Bansal, one of the poster boys of Indian e-commerce, said two weeks ago that he was asked to step down as CEO of Flipkart, the e-commerce company he cofounded, owing to performance issues. Binny Bansal, the other cofounder, took over the position.
Flipkart, once considered the crown jewel of the Indian e-commerce industry, has been going through a rough patch owing to management reshuffles, layoffs, profit- ability issues, a drop in sales and stiff competition. “There are rumours that Flipkart still has around $1 billion in the bank and even if the company does not make any profit and receive fresh funds, it can survive for one more year. But, that's it. New funds need to come. Initially, when the going was good and there was investor confidence, the company offered high salaries to its senior people. All that is slowly going down as there has been no real profits and investors are putting pressure on the company to generate cash,” said Kris Lakshmikanth, CEO of the recruiting firm Head Hunters India.
この記事は THE WEEK の September 18, 2016 版に掲載されています。
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この記事は THE WEEK の September 18, 2016 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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William Dalrymple goes further back
Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.
The bleat from the street
What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.
Courage and conviction
Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case
EPIC ENTERPRISE
Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus
Upgrade your jeans
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RECRUITERS SPEAK
Industry requirements and selection criteria of management graduates
MORAL COMPASS
The need to infuse ethics into India's MBA landscape
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode
COURSE CORRECTION
India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI
