“Marketing is essentially all about application of common sense. There are no rules or laws, and one should go with one’s judgement. CEOs must keep the consumer in focus.”
M. V. Krishna, AVP, Marketing (2W), Piaggio Vehicles Pvt Ltd.
“There is no formula for marketing, and RoI for marketing expenditure is not possible. It is all about one’s gut feeling, and keeping the focus on quality and after sales. The strength of SMEs is that they can give service to customers.”
“Entrepreneurs should spend time with their accountants and tax consultants to help figure out potential pain points. I spent a few hours every day for three months to learn the basics; if you know the law then nobody can take you for a ride.
“I follow the law strictly. Paying taxes is cheaper, because then you can focus on core competency. You must have the will to learn everything.”
Kailash Katkar, MD & CEO, Quick Heal Technologies Pvt Ltd.
“Nearly one-third of a CEO’s time is spent on handing compliance issues. SMEs find it difficult to track developments, and the new Companies Act is going to change how companies are being administered.
“You should spend an hour every three months with the tax and regulations adviser to track circulars and find out new clarifications. List out Standard Operating Practices and develop control mechanisms to address tax issues.
“There is a widening ambit of Service tax, IT, TDS and now Tax Collection at Source. Businessmen cannot understand technicality, and the price of not reporting is very high.
These days we are dealing with knowledgeable officers, and the law is not always Draconian.
Also, (I see) little attention is being paid to succession planning. Innovations and Intellectual Property should be successfully protected under copyright and patents law. Issues like, in a partnership who has right to trademark, should be addressed.
It is important to earn money, but also important to protect it.”
Nilesh Modi, International Tax expert, KPMG in India