Mastering Business Success in Todayโ€™s Market

0
73

Panaji, July 1 2024: The Startup & IT Promotion Cell, Department of ITE&C, Govt. of Goa organized Masterclass on topic ๐‘ฐ๐‘ท๐‘ถ ๐‘จ๐’˜๐’‚๐’“๐’†๐’๐’†๐’”๐’”, ๐‘พ๐’๐’“๐’Œ๐’Š๐’๐’ˆ ๐‘ช๐’‚๐’‘๐’Š๐’•๐’‚๐’ ๐‘ด๐’‚๐’๐’‚๐’ˆ๐’†๐’Ž๐’†๐’๐’• ๐’‚๐’๐’… 3 ๐‘ฉ๐’†๐’”๐’• ๐‘ท๐’“๐’‚๐’„๐’•๐’Š๐’„๐’†๐’” ๐’‡๐’๐’“ ๐‘ฉ๐’–๐’”๐’Š๐’๐’†๐’”๐’”๐’†๐’” by CA Santosh Kenkre the Former Chairman of EDC Limited, a seasoned Chartered Accountant with 39 years of expertise, and the Former Chairman of the Indo-American Chamber of Commerce recently at the IT Hub in Altinho, Panaji, Goa.

The masterclass commenced the session with introductions from all the attendees, followed by Mr. Santosh Kenkreโ€™s presentation on Initial Public Offerings (IPOs) on the BSE/NSE. An IPO involves offering shares of a private corporation to the public, thereby unlocking the companyโ€™s value.

Through various real-life examples, Mr. Kenkre shared valuable insights into the benefits of IPOs, including raising capital and boosting a companyโ€™s public profile. He highlighted that companies can issue further shares to the public to raise funds, allow insiders to diversify their holdings, or create liquidity by selling private shares as part of the IPO.

He emphasized the eligibility criteria for an IPO, which include a business existence of at least 3 years (with at least one year as a company) and a positive operating EBITDA for two out of the last three years.

Mr. Kenkre stressed the importance of taking IPOs seriously, as they provide a significant opportunity for raising capital and enhancing a companyโ€™s public profile. He explained that companies could raise additional capital by selling shares to the public, which can be instrumental in their growth and expansion.

In todayโ€™s competitive world, effective working capital management is crucial for maintaining smooth business operations.

Mr. Kenkre provided practical tips on managing stocks and inventories, advising against keeping excessively high stocks to avoid interest, liquidity issues, and spoilage. He shared the mantra, โ€œUse the optimum credit period of suppliers but don’t squeeze,โ€ highlighting the importance of working capital in running day-to-day business operations efficiently.

He also discussed three best practices for businesses: cost/price management, quality assurance, and effective marketing. He pointed out the necessity of good marketing and market information to sustain and grow a business.

Through examples of successful businesses, he illustrated the importance of quality, profit orientation, diversifying income schemes, and checking the profitability of each product or service.

He urged businesses to remain competitive, innovative, and focused on continuous improvement. He also indicated the need for instrumental changes to ensure business sustainability and profitability.

The masterclass stimulated a dynamic learning environment, with participants actively engaging and sharing insights. Attendees left with a wealth of knowledge on the significance of IPOs, effective working capital management, and essential practices to enhance business efficiency in todayโ€™s competitive landscape.

LEAVE A REPLY

Please enter your comment!
Please enter your name here