27 October 2000
Andersen Consulting decides on new name
Chicago: Three months after its final split from sister firm, Arthur Andersen, consulting major, Andersen Consulting, is now set to begin its new life after January 2001, with a new name.
It may be recalled that Andersen Consulting lost its right to use the name, following an arbitration award made by the international aribtrator. A search for a new name has been on, since then.
The world's largest consulting firm has decided to place an accent on the future, and with this, decided on the name, Accenture.
The $8.9 billion global management and technology-consulting organisation also is considering a partial public offering as part of its transition.
It is believed that the consulting major will spend approximately, $170 million, on an advertising campaign being launched January 1 to promote the new name. According to Mr. Joe W Forehand, managing partner and chief executive officer, the new name also highlights the firm's logical next step as a bridge-builder between the traditional and new economies.
The new name was coined by Mr. Kim Petersen, a Dane and a business consultant for Andersen Consulting. The firm's 2,500 partners preferred the name by more than 2-to-1 to any other candidate.
Mr. Petersen and his wife will be rewarded with a January trip to Melbourne, Australia, where Accenture sponsors the World Match Play Championship golf tournament.
25 October 2000
HDFC Standard to concentrate on quality not price
Mumbai: HDFC Standard Life Insurance Company Ltd, which was one of the first recipient of a license to enter the insurance sector, has clearly stated that it will not undercut competition and instead focus on newer products and customer service.
According to Mr. Deepak Satwalekar, managing director of HDFC Standard Life, the company has already readied several products after extensive research done with the help of consulting major, Boston Consulting Group. He stated that the focus of the new company would be on innovative products and not a price war.
