50 companies with the highest brand value in India

20 October 2015 Consultancy.uk

The brand value of India’s 50 most valuable brands has grown strongly, by 34% to $92 billion. HDFC Bank takes the top spot, followed by Dairtel and State Bank of India. Growth is steered by the growing middle class, which are able to purchase more luxurious items, as well the continued Indian trust in big brands.

The top brands in India have enjoyed strong growth over the past 12 months, reveals an analysis on data from marketing consultancies WPP and Millward Brown. In their yearly ‘BrandZ India Top 50 Index’, the top 50 publicly traded brands are identified and compared to the previous year’s ranking. Brand value is derived, according to the report, from “the dollar amount a brand contributes to the overall value of a corporation.”

In this year’s report, brand value for the top 50 brands in India has shot up across all the analysed organisations by 34% – the total value of the elite brands is now worth $92.2 billion, up from just under $70 billion in 2014.

Total brand value of top 50 brands in India

Brands in the financial sector remained strongest in India. HDFC Bank is found in the #1 spot (up 33% in value), State Bank of India in the #3 spot (up 37%), ICICI Bank in the #4 spot (up 45%), with a new entrant to the financial category, Axis Bank coming in at #8. Automotive players also continue to rank strongly. Bajaj Auto secured the #5 spot, slipping one spot to paint supplier Asian Paints on last year, due partly to a poor brand growth figure of 10%. Hero found itself again in the #7 spot with 34% growth.

Category highlights
The report finds that different categories have enjoyed different levels of growth. Home and personal care brands for instance, grew by 32% - with improvements in disposable income driving spending on premium products. 12 brands made the top 50 in this category, taking in a 15% of the total value of all brands. The fastest risers are Lakme (#44, adding 69%), Lifebuoy (#31, adding 49%) and Colgate (#26, adding 44%). The financial brands are however, the best performing by far – up 49% on average. This year’s top 50 brandishing 13 big financial player names that hold a total of 41% of the value of the brands listed. The biggest risers in this category are the Union Bank of India (#46, adding 72%), Punjab National Bank (#22, adding 61%) and IndusInd Bank (#13, adding 46%).

Brand value of top brands in India

The research finds that a considerable number of Indians (33%) trust brand names – compared to other markets. The most trusted brands in this year’s list are jeweller Tanishq (#21) and Colgate (#26), which is part of Indian folklore for its emphasis on the social good of dental hygiene awareness. Other brands also have enjoyed increased ranking, in part due to their social practices. These include Lifebuoy (#31) and Asian Paints (#5).

Brand value of top brands in India - 2

Commenting on the list, Prasun Basu, Millward Brown’s Managing Director of South Asia, says that India's top brands are getting stronger – but there is no room for complacence. “The top four had to grow their value by 37% on average to hold on to the same positions as last year, and close to 10% of the brands that made the Top 50 in 2014 have dropped out.” Looking forward, Basu says that to benefit from the continuing rise in consumer confidence and optimism, brands need to “understand the changing consumer, respond with innovative products and breakthrough communication, and experiment and invest in new media that reflect the spirit of the country today.”

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Project management industry adds £156 billion of value to UK economy

15 April 2019 Consultancy.uk

Project management has grown into one of UK’s largest areas of business over the past decade, amid the increasing ‘projectification’ of work. With the gross value added to the UK economy by project management estimated to be £156 billion, this trend is likely to continue in the coming era.

Despite the huge success of project management in recent years, until now there has been relatively little data available on the size of project activity. As a result, there has been a great deal of debate on things like the number of people involved in the sector, the number of projects, and how it contributes to economic output. Due to this need for clarity, APM, the UK’s professional body for project management (the largest organisation of its kind in Europe, with 28,000 individual members) commissioned economists from PwC to shed light on the industry's economic impact.

The research concluded that the profession makes a more significant contribution to the UK economy than the financial services sector. 2.13 million full-time equivalent workers (FTEs) were employed in the UK project management sector, generating £156.5 billion of annual gross value added (GVA). In comparison, the financial services sector contributes £115 billion, and the construction industry adds £113 billion.

Gross value added to UK economy

Commenting on the discovery, Debbie Dore, Chief Executive of APM said, “Project management runs as a ‘golden thread’ through businesses, helping to develop new services, driving strategic change and sector-wide reform.”

Who is a ‘project manager’?

To reach these estimates, PwC’s researchers used detailed models to map out the value of project management activity. They ultimately defined relevant ‘projects’ as “temporary, non-routine endeavours or rolling programmes of change designed to produce a distinct product, service or end result… [with] a defined beginning and end, a specific scope, a ring-fenced budget, [and] an identified and potentially dedicated team with a project manager in charge.”

Building on this, they then went on to define what the act of project management actually is. The job consists of applying “processes, methods, knowledge, skills and experience” so that clients can meet their objectives and bring about planned outputs or outcomes. The analysts added that this includes “initiating the project, planning, executing, controlling, quality assuring and closing the work of an identified and dedicated team according to a specified budget and timeframe.”

Importantly, it should be noted that the profession is not exclusive to only roles explicitly labelled as ‘project manager’, but to any role where specialist project management skills are used. This means that across sectors these roles can have very different titles, from the self-explanatory contract managers of procurement, or the campaign managers of advertising, to the likes of festival co-ordinators in the events sector, and many more. The roles in question also span all strategic levels of the profession, from strategic to tactical and operational positions.

Gross value added of project management profession

From a sector perspective, the financial and professional services, construction and healthcare industries make up almost two-thirds of the total project management GVA. At the same time, understandably, the UK Government has a huge project portfolio, which further drives the size of the GVA the sector contributes, thanks to megaprojects like HS2 and Crossrail.

Commenting on this to the report’s authors, Oliver Dowden, Minister for Implementation remarked, “Project delivery is at the heart of all Government activity, whether it’s building roads and rail, strengthening our armed forces, modernising IT or transforming the way government provides public services to citizens. Getting these projects right is essential if we are to ensure that we build a country that works for everyone.”

Throughout 2019, 26 major government projects were delivered, representing a fifth of the overall Government Major Projects Portfolio (GMPP) of 133 projects. According to the IPA annual report 2017-18, these represented a whole life cost of £423 billion. In addition to this were a plethora of smaller scale projects, and those in early development.

Elsewhere, with the increasing digitalisation of the economy impacting entities of all shapes and sizes, IT and digital transformations tended to dominate the projects of the UK scene alongside new product development projects, with a respective 55% and 46% of organisations in the research sample having undertaken these types of project in the past year. At the same time, this varied across sectors, and unsurprisingly, in the construction and local government sectors, fixed capital projects were the main project type undertaken.

Outlook

Looking to the future, 40% of business leaders expect project management will grow in the coming years due to the increased use of projects – or the ‘projectification’ of the UK. In a trend that has been witnessed elsewhere, organisations have to rapidly and continuously change in the digital age of business, driving the need for project management.

Outlook for project management services

An increased focus on value over cost – especially in the construction sector – and a forecast increase in the number of international projects are predicted to be key drivers of growth, according to the expert contributors. However, this will not happen in the absence of challenges; more than half of organisations expressed concern over the perceived impact of political uncertainty in the UK. Skills and capability shortages were also cited as a potential barrier by a third of organisations.

With regard to budgets, meanwhile, a third of those surveyed by PwC said they expect the size of project budgets will increase in the coming three years, while 40% anticipate a growth in project size. As the profession continues to mature, and as the recognition of the importance of good project management grows, it is expected that a greater proportion of project work will gain more distinct attribution to the profession itself, giving more recognition and appreciation to the role of the project manager.

Speaking on the findings of the study, Sandie Grimshaw, a Partner at PwC, concluded, “The project management profession is relatively new compared to some other professions, such as lawyers, teachers and doctors. However, as project management is a core competence vital to organisations in the UK, the profession is critical and will continue to grow in stature.”