A question that has been in the media for quite some time now. After some study and introspection, this is what I think about it:
FDI must be allowed in all forms of retail in India:
1. Single-brand retail : 51% should be hiked to 100%
2. Cash-and-carry : 100% FDI status quo be maintained
3. Multi brand retail : No FDI currently, initially 49% should be allowed. Later depending on the expansion and macro environment factors, it can gradually go up to 74% and finally 100%.
FDI in multi brand retail should be opened up gradually. The government should allow 49% initially so that large MNC retail giants can forge tie ups with big local players in India. This would help in technology transfer, strengthening of supply chain systems and bring fresh capital that is badly needed for expansion. Between 30-40% of post-harvest produce goes to waste in a country where nearly half the people are malnourished. This would help tame double-digit food inflation that pushed the central bank to raise rates five times since March. A more organised retail sector, which currently is only around 5% of total retail, would also improve tax receipts. The move could generate huge employment in the multi-brand retail sector and, while fears of job losses for smaller outlets are real, analysts have often played down the impact. Farmers may also benefit because they could sell direct rather than relying on middle men. Political unrest would be near-inevitable. Manmohan's government has grappled with huge strikes and protests over soaring food prices and fuel reforms. Even if he pushed the reform through, huge upheaval could force the government to backtrack.Like insurance, retail is a capital-intensive business and hence FDI is a must.
However, the govt. needs to realize that allowing FDI in multi brand retail is not going to be the PANACEA. The rural agricultural infrastructure is far from acceptable standards in India. Expecting retailers to turn around everything is not realistic. Hence significant investments should go into improving the rural agricultural infrastructure. Only then will the farm-to-fork model of modern retail yield its benefits fully and rein in the spectre of inflation.
A platform where I will share my views on topics and issues that interest me deeply (with a strong business bias, of course)and chronicle the major events in my life beginning 2010.
Sunday, December 26, 2010
Friday, December 17, 2010
The Big "P" and more...
Hello readers!
It has been a long time since I posted anything. The Big "P" stands for PLACEMENT in all B-schools. Thanks to Nitish who coined this term (as if we needed one more P after the 8 Ps in services marketing! ). The term-5 of PGDM (MBA) has come to an end and I am cooling off my heels for a day before the final term sessions get underway.This term has been the most eventful and exciting for me and most of my friends would concur with this as well. I have got a job offer from Pantaloon Retail India Limited, the flagship company of Future Group, India's largest retailer in terms of number of stores and revenues (over $ 2.1 billion in FY 2010). Most of my friends here at SDMIMD have bagged jobs and that's one more reason to rejoice. Very soon, India Inc. will get a new set of high potential-high performing (STAR) managers!
The whole placement process taught me that one needs to be patient, well prepared and a little lucky to get the offer from a company. The process involves multiple trade-offs between conflicting parameters like salary, profile, location, company brand, CGPA and industry dynamics. A lot depends on the schedule of companies coming to campus (as we follow rolling placement system here at SDMIMD) and the risk appetite of the student.Also a few of my batchmates are determined to start their own ventures or expand their parent's businesses which is a welcome sign as India needs such wealth creators more than corporate managers.
The whole concept of putting students on HOLD by recruiters really sucks. It puts undue pressure on the young students and speaks poorly of a company's recruitment policies.
The annual management fest of SDMIMD is going to be conducted from January 6 to 8, 2011 here at SDMIMD campus in Mysore. Loads of events are on the anvil. Preparations are on and I will update you all on this soon.
Cheers!
It has been a long time since I posted anything. The Big "P" stands for PLACEMENT in all B-schools. Thanks to Nitish who coined this term (as if we needed one more P after the 8 Ps in services marketing! ). The term-5 of PGDM (MBA) has come to an end and I am cooling off my heels for a day before the final term sessions get underway.This term has been the most eventful and exciting for me and most of my friends would concur with this as well. I have got a job offer from Pantaloon Retail India Limited, the flagship company of Future Group, India's largest retailer in terms of number of stores and revenues (over $ 2.1 billion in FY 2010). Most of my friends here at SDMIMD have bagged jobs and that's one more reason to rejoice. Very soon, India Inc. will get a new set of high potential-high performing (STAR) managers!
The whole placement process taught me that one needs to be patient, well prepared and a little lucky to get the offer from a company. The process involves multiple trade-offs between conflicting parameters like salary, profile, location, company brand, CGPA and industry dynamics. A lot depends on the schedule of companies coming to campus (as we follow rolling placement system here at SDMIMD) and the risk appetite of the student.Also a few of my batchmates are determined to start their own ventures or expand their parent's businesses which is a welcome sign as India needs such wealth creators more than corporate managers.
The whole concept of putting students on HOLD by recruiters really sucks. It puts undue pressure on the young students and speaks poorly of a company's recruitment policies.
The annual management fest of SDMIMD is going to be conducted from January 6 to 8, 2011 here at SDMIMD campus in Mysore. Loads of events are on the anvil. Preparations are on and I will update you all on this soon.
Cheers!
Thursday, November 25, 2010
Management Gyaan!!!
Dear friends, in the words of my friend Anupam, we are the "future" managers of our country. So let me share some management lessons that we never get in MBA classrooms....in an entertaining fashion....all the credit or discredit goes to the copyright owner Mr. Anupam Niyogi!
ENJOYYYYYYY !!!!!!!
* Lesson Number One*
A crow was sitting on a tree, doing nothing all day. A small rabbitsaw the crow, and asked him, "Can I also sit like you and do nothingall day long?" The crow answered: "Sure, why not." So, the rabbit sat on the ground below the crow, and rested. All of a sudden, a fox appeared, jumped on the rabbit and ate it.
Management Lesson: To be sitting and doing nothing, you must besitting very, very high up. .
* Lesson Number Two *
A turkey was chatting with a bull.
"I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy. "Well, why don't you nibble on some of my droppings?" replied the bull. "They're packed with nutrients."The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The nextday, after eating some more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top ofthe tree. Soon he was promptly spotted by a farmer, who shot the turkey out of the tree.
Management Lesson: Bullshit might get you to the top, but it won'tkeep you there.
* Lesson Number Three *
When the body was first made, all the parts wanted to be Boss. Thebrain said, "I should be Boss because I control the whole body'sresponses and functions."
The feet said, "We should be Boss as we carry the brain about and gethim to where he wants to go." The hands said, "We should be the Bossbecause we do all the work and earn all the money." And so it went onand on with the heart, the lungs and the eyes until finally theasshole spoke up. All the parts laughed at the idea of the asshole being the Boss. Sothe asshole went on strike, blocked itself up and refused to work.Within a short time the eyes became crossed, the hands clenched, thefeet twitched, the heart and lungs began to panic and the brain fevered. Eventually they all decided that the asshole should be theBoss, so the motion was passed.
All the other parts did all the work while the Boss just sat andpassed out the shit!
Management Lesson: You don't need brains to be Boss, any asshole will do! You just need to screw people at the right moment.
* Lesson Number Four *
A little bird was flying south for the winter. It was so cold, thebird froze and fell to the ground in a large field. While it was lyingthere, a cow came by and dropped some dung on it. As the frozen birdlay there in the pile of cow dung, it began to realize how warm itwas. The dung was actually thawing him out!
He lay there all warm and happy, and soon began to sing for joy. A passing cat heard he bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out of the shit and ate him!
Management Lessons
A) Not everyone who drops shit on you is your enemy.
B) Not everyone who gets you out of shit is your friend.
C) When you're in deep shit, you better keep your mouth shut!
PS: THESE ARE PROVEN FACTS AND SHOULD BE KNOWN TO EVERY MANAGER.....
ENJOYYYYYYY !!!!!!!
* Lesson Number One*
A crow was sitting on a tree, doing nothing all day. A small rabbitsaw the crow, and asked him, "Can I also sit like you and do nothingall day long?" The crow answered: "Sure, why not." So, the rabbit sat on the ground below the crow, and rested. All of a sudden, a fox appeared, jumped on the rabbit and ate it.
Management Lesson: To be sitting and doing nothing, you must besitting very, very high up. .
* Lesson Number Two *
A turkey was chatting with a bull.
"I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy. "Well, why don't you nibble on some of my droppings?" replied the bull. "They're packed with nutrients."The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The nextday, after eating some more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top ofthe tree. Soon he was promptly spotted by a farmer, who shot the turkey out of the tree.
Management Lesson: Bullshit might get you to the top, but it won'tkeep you there.
* Lesson Number Three *
When the body was first made, all the parts wanted to be Boss. Thebrain said, "I should be Boss because I control the whole body'sresponses and functions."
The feet said, "We should be Boss as we carry the brain about and gethim to where he wants to go." The hands said, "We should be the Bossbecause we do all the work and earn all the money." And so it went onand on with the heart, the lungs and the eyes until finally theasshole spoke up. All the parts laughed at the idea of the asshole being the Boss. Sothe asshole went on strike, blocked itself up and refused to work.Within a short time the eyes became crossed, the hands clenched, thefeet twitched, the heart and lungs began to panic and the brain fevered. Eventually they all decided that the asshole should be theBoss, so the motion was passed.
All the other parts did all the work while the Boss just sat andpassed out the shit!
Management Lesson: You don't need brains to be Boss, any asshole will do! You just need to screw people at the right moment.
* Lesson Number Four *
A little bird was flying south for the winter. It was so cold, thebird froze and fell to the ground in a large field. While it was lyingthere, a cow came by and dropped some dung on it. As the frozen birdlay there in the pile of cow dung, it began to realize how warm itwas. The dung was actually thawing him out!
He lay there all warm and happy, and soon began to sing for joy. A passing cat heard he bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out of the shit and ate him!
Management Lessons
A) Not everyone who drops shit on you is your enemy.
B) Not everyone who gets you out of shit is your friend.
C) When you're in deep shit, you better keep your mouth shut!
PS: THESE ARE PROVEN FACTS AND SHOULD BE KNOWN TO EVERY MANAGER.....
Wednesday, November 10, 2010
My favourite poems
Two poems that have influenced and touched me to the core are posted below. Hope these will do my readers some good.Looking forward to your comments and suggestions.
INVICTUS
---William E. Henley
Out of the night that covers me,
Black as the pit from pole to pole,
I thank whatever gods may be
For my unconquerable soul.
In the fell clutch of circumstance
I have not winced nor cried aloud.
Under the bludgeonings of chance
My head is bloody, but unbowed.
Beyond this place of wrath and tears
Looms but the Horror of the shade,
And yet the menace of the years
Finds and shall find me unafraid.
It matters not how strait the gate,
How charged with punishments the scroll,
I am the master of my fate:
I am the captain of my soul.
Don't Quit!
-Anonymous
When things go wrong, as they sometimes will,
when the road you're trudging seems all uphill,
When the funds are low and the debts are high,
And you want to smile, but you have to sigh,
When care is pressing you down a bit,
Rest, if you must, but do not quit.
Life is queer with its twists and turns,
As every one of us sometimes learns,
And many a failure turns about,
When he might have won had he stuck it out;
Don't give up though the pace seems slow-
You may succeed with another blow.
Often the goal is nearer than,
It seems to a faint and faltering man,
Often the struggler has given up,
When he might have captured the victor's cup,
And he learned too late when the night slipped down,
How close he was to the golden crown.
Success is failure turned inside out-
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems so far,
So stick to the fight when you're hardest hit-
It's when things seem worst that you must not quit.
INVICTUS
---William E. Henley
Out of the night that covers me,
Black as the pit from pole to pole,
I thank whatever gods may be
For my unconquerable soul.
In the fell clutch of circumstance
I have not winced nor cried aloud.
Under the bludgeonings of chance
My head is bloody, but unbowed.
Beyond this place of wrath and tears
Looms but the Horror of the shade,
And yet the menace of the years
Finds and shall find me unafraid.
It matters not how strait the gate,
How charged with punishments the scroll,
I am the master of my fate:
I am the captain of my soul.
Don't Quit!
-Anonymous
When things go wrong, as they sometimes will,
when the road you're trudging seems all uphill,
When the funds are low and the debts are high,
And you want to smile, but you have to sigh,
When care is pressing you down a bit,
Rest, if you must, but do not quit.
Life is queer with its twists and turns,
As every one of us sometimes learns,
And many a failure turns about,
When he might have won had he stuck it out;
Don't give up though the pace seems slow-
You may succeed with another blow.
Often the goal is nearer than,
It seems to a faint and faltering man,
Often the struggler has given up,
When he might have captured the victor's cup,
And he learned too late when the night slipped down,
How close he was to the golden crown.
Success is failure turned inside out-
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems so far,
So stick to the fight when you're hardest hit-
It's when things seem worst that you must not quit.
Saturday, October 30, 2010
Perspectives on key issues- I
I am back again after a long time.Its the Diwali break at school. Happy Diwali to all my readers.
Tried to figure out answers to a few key issues being raised in Indian business media lately. There are no easy answers considering the scale and complexity of the problems. However, the idea was to crystallize thoughts in my mind. Comments are MOST welcome.
1. Impact of rising rupee on IT/ITeS companies:
Excessive speculative FII inflows as developed economies still not out of recession fully and emerging markets fetch attractive ROI.Could spell trouble for small and medium software companies in India. According to analysts, every 1% rise in the rupee could have 30-40 basis points impact on operating margins.With Coal India IPO on the anvil, we might witness further appreciation in the rupee.RBI has to intervene by buying out the dollars through the public sector banks to rein in the rupee to maintain India’s export competitiveness.Companies need to diversify their clientele across geographies and hedge their forex reserves better.
2. Was it right to award the Nobel Peace Prize to Liu Xiaobo?
Xiaobo was awarded this year’s Nobel Peace Prize for his long and non-violent struggle for fundamental human rights in the world’s second largest economy.Many Chinese dissidents within the establishment and the intelligentsia are working for incremental political reform, greater economic and social equality and a negotiated compromise between the conflicting interests in the complex and stratified Chinese society.Chinese govt. perceives this award as another act of the West to derail its progress by promoting internal strife and has made its displeasure public.It was right. His selection can be justified on the premise that more people around the world and inside China will know what the Chinese dissidents like him stand for, and for a time will remember them and their cause a little better.
3. Commonwealth Games- Lessons for India
Major loopholes were improper planning, huge cost overruns and ramapant corruption besides problems in ticket vending and hygiene in the CWG Village.International sports events like the CWG have become branding events for emerging economic superpowers.Lessons need to be learnt in plugging the loopholes if India wants to host the Olympics in the near future.Proper utilisation of the sports infrastructure created for the CWG to enhance the standards of sports in India is crucial. More players should be able to access the facilities created to improve their game.The Games have prevented any major embarassment or disaster since their opening. All the nations participated. India’s best CWG performance till date. But a lot of things remain to be learnt.
Tried to figure out answers to a few key issues being raised in Indian business media lately. There are no easy answers considering the scale and complexity of the problems. However, the idea was to crystallize thoughts in my mind. Comments are MOST welcome.
1. Impact of rising rupee on IT/ITeS companies:
Excessive speculative FII inflows as developed economies still not out of recession fully and emerging markets fetch attractive ROI.Could spell trouble for small and medium software companies in India. According to analysts, every 1% rise in the rupee could have 30-40 basis points impact on operating margins.With Coal India IPO on the anvil, we might witness further appreciation in the rupee.RBI has to intervene by buying out the dollars through the public sector banks to rein in the rupee to maintain India’s export competitiveness.Companies need to diversify their clientele across geographies and hedge their forex reserves better.
2. Was it right to award the Nobel Peace Prize to Liu Xiaobo?
Xiaobo was awarded this year’s Nobel Peace Prize for his long and non-violent struggle for fundamental human rights in the world’s second largest economy.Many Chinese dissidents within the establishment and the intelligentsia are working for incremental political reform, greater economic and social equality and a negotiated compromise between the conflicting interests in the complex and stratified Chinese society.Chinese govt. perceives this award as another act of the West to derail its progress by promoting internal strife and has made its displeasure public.It was right. His selection can be justified on the premise that more people around the world and inside China will know what the Chinese dissidents like him stand for, and for a time will remember them and their cause a little better.
3. Commonwealth Games- Lessons for India
Major loopholes were improper planning, huge cost overruns and ramapant corruption besides problems in ticket vending and hygiene in the CWG Village.International sports events like the CWG have become branding events for emerging economic superpowers.Lessons need to be learnt in plugging the loopholes if India wants to host the Olympics in the near future.Proper utilisation of the sports infrastructure created for the CWG to enhance the standards of sports in India is crucial. More players should be able to access the facilities created to improve their game.The Games have prevented any major embarassment or disaster since their opening. All the nations participated. India’s best CWG performance till date. But a lot of things remain to be learnt.
Saturday, October 9, 2010
Vital Stats! (Vol-I)
Compiled a few vital statistics from various sources to aid my memory.Happy reading and please add to the figures with your comments.
Indian Economy (Eco.Survey FY10 and e-newspapers)
1. GDP growth rate in India in FY10: 7.4%
2. GDP growth rate projected for FY11: >8.5%
3. Fiscal deficit of FY10 : 6.9% of GDP (budget estimate, according to new series)
4. Global rank in terms of nominal GDP ($1.25 trillion,FY09): 11th
5. Global rank in terms of PPP: 4th
6. FDI inflow in FY10 : $ 49.30 billion (RBI)
Business India
7. Interest rate on Employees Provident Fund (EPF) for FY11 : 9.5% (+1%)
8. Number of EPF subscribers : almost 5 crores
9. Interest rate on Senior Citizens’ Savings Scheme : 9%
10. Bank deposits offer up to 7.5%
11. Total size of the workforce in India: 38 crore
12. Organized workers in India constitute around 15% of the total workforce : 5.7 crores
Business Line
13. Wireless subscriber base in India as of August 2010 : 67.06 crore
14. Wireless teledensity stands as of August 2010: 56.61%
15. Bharti Airtel market share as of August 2010 : over 20%
16. Total broadband subscriber base as of August 2010: over 1 crore
Income Tax rates FY 11:
17. Rs. 160,001/- to Rs. 500,000/- 10%
18. Rs. 500,001/- to Rs. 800,000/- 20%
19. Above Rs. 8 Lacs 30%
Indian Economy (Eco.Survey FY10 and e-newspapers)
1. GDP growth rate in India in FY10: 7.4%
2. GDP growth rate projected for FY11: >8.5%
3. Fiscal deficit of FY10 : 6.9% of GDP (budget estimate, according to new series)
4. Global rank in terms of nominal GDP ($1.25 trillion,FY09): 11th
5. Global rank in terms of PPP: 4th
6. FDI inflow in FY10 : $ 49.30 billion (RBI)
Business India
7. Interest rate on Employees Provident Fund (EPF) for FY11 : 9.5% (+1%)
8. Number of EPF subscribers : almost 5 crores
9. Interest rate on Senior Citizens’ Savings Scheme : 9%
10. Bank deposits offer up to 7.5%
11. Total size of the workforce in India: 38 crore
12. Organized workers in India constitute around 15% of the total workforce : 5.7 crores
Business Line
13. Wireless subscriber base in India as of August 2010 : 67.06 crore
14. Wireless teledensity stands as of August 2010: 56.61%
15. Bharti Airtel market share as of August 2010 : over 20%
16. Total broadband subscriber base as of August 2010: over 1 crore
Income Tax rates FY 11:
17. Rs. 160,001/- to Rs. 500,000/- 10%
18. Rs. 500,001/- to Rs. 800,000/- 20%
19. Above Rs. 8 Lacs 30%
Wednesday, September 22, 2010
India and Global Financial Crisis- Evaluation of Policy Responses and Lessons
I and Nitish (a close friend and batch mate at SDMIMD) are currently working on a student paper to be presented at Institute of Management, Nirma University during Nirma International Conference on Management (NICOM 2011) at Ahmedabad.Here's the abstract of that paper:
The US and other major European economies like the UK are gradually emerging out of the recession, although at a snail’s pace, despite some critics predicting a double-dip recession in the near future. It would take a few more years to completely regain the growth momentum. India has by now emerged from the global financial crisis and is on its way to report strong economic growth over the next fiscal. The greatest economic calamity since the Great Depression of the 1930s has thrown up several issues like regulatory oversight, fiscal misprudence, unbridled corporate greed etc. along with unforgettable lessons for policymakers, regulators and enterprises worldwide .
In this paper, we seek to evaluate the various fiscal and monetary policy responses to the financial crisis by the major global economies, right from the unfolding of the crisis till date, with a special emphasis on India.The varying impact of these responses on inflation, unemployment ,fiscal health and economic growth of India has been examined. Protectionist measures in the developed economies have been analysed. The key lessons to be learnt from the crisis have been dealt with. The conclusion and our inferences have been included at the end.
I will post the entire paper for those who want to read it after we finish it.
Cheers!!
The US and other major European economies like the UK are gradually emerging out of the recession, although at a snail’s pace, despite some critics predicting a double-dip recession in the near future. It would take a few more years to completely regain the growth momentum. India has by now emerged from the global financial crisis and is on its way to report strong economic growth over the next fiscal. The greatest economic calamity since the Great Depression of the 1930s has thrown up several issues like regulatory oversight, fiscal misprudence, unbridled corporate greed etc. along with unforgettable lessons for policymakers, regulators and enterprises worldwide .
In this paper, we seek to evaluate the various fiscal and monetary policy responses to the financial crisis by the major global economies, right from the unfolding of the crisis till date, with a special emphasis on India.The varying impact of these responses on inflation, unemployment ,fiscal health and economic growth of India has been examined. Protectionist measures in the developed economies have been analysed. The key lessons to be learnt from the crisis have been dealt with. The conclusion and our inferences have been included at the end.
I will post the entire paper for those who want to read it after we finish it.
Cheers!!
Being beautiful helps!!
The inspiration for this post comes from the 1946 Alfred Hitchcock flick "Notorious" which I just finished watching.Thanks Virinchi for this wonderful movie!
Would like to make a few points about the benefits of being a beautiful girl/woman. I certainly don't mean to say that not being a beautiful woman is a vice. Neither do I mean that feminine beauty can compensate for the lack of other essential traits which are a MUST in any job like sincerity, competence etc. Apart from all the attention(often unwarranted,though seldom undesired) that feminine beauty attracts almost on a daily basis, it has been the source of inspiration for many a poet in a multitude of languages worldwide. From John Keats to Kalidasa, every poet has penned poems appreciating and admiring this virtue of women.Many men have lost their hearts to beautiful women in the past and continue to do so. I am trying to address how being beautiful helps a woman in this largely male-dominated world. Let's take espionage (spying) for instance.Beautiful women have been great spies in the past.Almost all the major nations have employed them to gather sensitive and otherwise inaccessible information from the enemies. These femme fatales have been largely successful in their missions, often not shying away from sleeping with multiple males to gather information (an occupational hazard). It is very hard to lie, even for the sternest of men,when immersed in the ecstasy of love-making. This basic instinct of men has spilled the beans on many occasions in the past and has been therefore exploited accordingly by intelligence agencies.Good-looking girls certainly get an upper hand when it comes to hiring for jobs that requires extensive face-to-face contact with a large number of people (mostly men!) like receptionists, air hostesses, school teachers and models.It makes sense as men generally feel good talking to a beautiful women than a man (however efficient and handsome he might be) and for the women, it doesn't matter whom they are talking to as long as the job is done well.Research done in the US clearly suggests the incidence of a direct positive correlation between feminine beauty and career success in many jobs.
There could be various reasons to explain this. I believe apart from the biological urges of sexual attraction,other things can be at play like the feeling of happiness (to varying extent) experienced by men when they deal with a smiling, courteous and effective (of course!)lady who is good-looking. It harms nobody.
For all those women who are not good-looking, there is nothing to lose heart as they can leverage other traits they are good at, in jobs as well as in the pursuit of LOVE and happiness in their personal lives.I believe there are many men out there who are more than willing to share their lives with women who are kind and caring despite being moderately endowed with beauty. But then there are also many men who want to go for the belle femme (beautiful women in French) ONLY!!
Keep Smiling. Makes you look more beautiful!!!
Would like to make a few points about the benefits of being a beautiful girl/woman. I certainly don't mean to say that not being a beautiful woman is a vice. Neither do I mean that feminine beauty can compensate for the lack of other essential traits which are a MUST in any job like sincerity, competence etc. Apart from all the attention(often unwarranted,though seldom undesired) that feminine beauty attracts almost on a daily basis, it has been the source of inspiration for many a poet in a multitude of languages worldwide. From John Keats to Kalidasa, every poet has penned poems appreciating and admiring this virtue of women.Many men have lost their hearts to beautiful women in the past and continue to do so. I am trying to address how being beautiful helps a woman in this largely male-dominated world. Let's take espionage (spying) for instance.Beautiful women have been great spies in the past.Almost all the major nations have employed them to gather sensitive and otherwise inaccessible information from the enemies. These femme fatales have been largely successful in their missions, often not shying away from sleeping with multiple males to gather information (an occupational hazard). It is very hard to lie, even for the sternest of men,when immersed in the ecstasy of love-making. This basic instinct of men has spilled the beans on many occasions in the past and has been therefore exploited accordingly by intelligence agencies.Good-looking girls certainly get an upper hand when it comes to hiring for jobs that requires extensive face-to-face contact with a large number of people (mostly men!) like receptionists, air hostesses, school teachers and models.It makes sense as men generally feel good talking to a beautiful women than a man (however efficient and handsome he might be) and for the women, it doesn't matter whom they are talking to as long as the job is done well.Research done in the US clearly suggests the incidence of a direct positive correlation between feminine beauty and career success in many jobs.
There could be various reasons to explain this. I believe apart from the biological urges of sexual attraction,other things can be at play like the feeling of happiness (to varying extent) experienced by men when they deal with a smiling, courteous and effective (of course!)lady who is good-looking. It harms nobody.
For all those women who are not good-looking, there is nothing to lose heart as they can leverage other traits they are good at, in jobs as well as in the pursuit of LOVE and happiness in their personal lives.I believe there are many men out there who are more than willing to share their lives with women who are kind and caring despite being moderately endowed with beauty. But then there are also many men who want to go for the belle femme (beautiful women in French) ONLY!!
Keep Smiling. Makes you look more beautiful!!!
Monday, September 13, 2010
Seth Godin
Hi folks! I am in the middle of the term-4 exam season and typing something in my blog about an extraordinary video I just saw on youtube!!
For the uninitiated, Seth Godin is one of the greatest experts on marketing of our times. His ideas have been path breaking, thought provocative and highly useful for all the students and practitioners of marketing. In this video, he essentially talked of two things:
1. Target the innovators and the early adopters whenever you come up with a new product/service because they are the ones who care to listen to what you are saying and will buy the product. They will speak good about the product/service to their friends and the idea spreads like that.No point to communicate to your entire target audience as it costs a bomb and isn't effective.
2.Try to be remarkable in whatever you make or the way you market. With choices increasing and very less time at the disposal of the consumers,there is no way a product/service is going to be noticed unless there is something remarkable about it.
Here's the link to this wonderful video with amazing examples to elucidate the ideas:
http://www.youtube.com/watch?v=xBIVlM435Zg&feature=related
Cheers!
For the uninitiated, Seth Godin is one of the greatest experts on marketing of our times. His ideas have been path breaking, thought provocative and highly useful for all the students and practitioners of marketing. In this video, he essentially talked of two things:
1. Target the innovators and the early adopters whenever you come up with a new product/service because they are the ones who care to listen to what you are saying and will buy the product. They will speak good about the product/service to their friends and the idea spreads like that.No point to communicate to your entire target audience as it costs a bomb and isn't effective.
2.Try to be remarkable in whatever you make or the way you market. With choices increasing and very less time at the disposal of the consumers,there is no way a product/service is going to be noticed unless there is something remarkable about it.
Here's the link to this wonderful video with amazing examples to elucidate the ideas:
http://www.youtube.com/watch?v=xBIVlM435Zg&feature=related
Cheers!
Wednesday, July 14, 2010
Scribbled in madness.....
I had penned this poem way back in 2008 in Kolkata.Just felt like sharing something that is not serious and straight from the heart.
LONELY SOUL
Every night when I gaze at the stars,
to forget the pain, to erase the scars.
Amidst the innumerable stars in the sky,
I am so lonely, I don’t know why.
I wonder had you been there with me,
to feel the pain of love deep inside me.
Together we shall go to the moon,
if only you come to me a bit too soon.
I am so lonely without you in this world,
you mean more to me than diamond and gold.
When I remember the days we spent together,
heart fills up with sorrow, pain becomes the murderer.
Tried everything to get out of this trauma,
strange I am, strange is your love’s enigma.
Days come and pass by, so do the seasons,
for me it’s all the same evening of broken aspirations.
Season of broken dreams and dead ambitions,
shattered by my destiny, I am sans emotions.
You left me lonely in the middle of the deep blue sea,
neither can I see the shore nor the way ahead of me.
The storm stole you from me all of a sudden,
I tried to find you, but it was all in vain.
You were no more there; there were only your memories,
None could ever feel what was in my moist eyes.
Lonely I am, lonely I shall be till I find you,
You are my final destination; I shall one day reach you.
I am walking in the empty streets searching for you,
in the boulevard of my broken dreams, I am lonely without you.
I feel desolate in the crowd, forsaken sitting alone,
I am so lonely even ages after you have gone.
Your memories are this mad man’s last resort,
every moment passing by is cutting this journey short.
Pain now feels good; I have joined hands with it,
it’s the gift of your love, I shall always preserve it.
Is there any cure for my illness or is my illness the cure?
loneliness shall be my best friend one day for sure.
You have forgotten me; my memories have deserted you,
I am still sitting at that park bench waiting for you.
Years may have passed by, in this excruciating journey,
I can still feel your head on my right shoulder honey!
LONELY SOUL
Every night when I gaze at the stars,
to forget the pain, to erase the scars.
Amidst the innumerable stars in the sky,
I am so lonely, I don’t know why.
I wonder had you been there with me,
to feel the pain of love deep inside me.
Together we shall go to the moon,
if only you come to me a bit too soon.
I am so lonely without you in this world,
you mean more to me than diamond and gold.
When I remember the days we spent together,
heart fills up with sorrow, pain becomes the murderer.
Tried everything to get out of this trauma,
strange I am, strange is your love’s enigma.
Days come and pass by, so do the seasons,
for me it’s all the same evening of broken aspirations.
Season of broken dreams and dead ambitions,
shattered by my destiny, I am sans emotions.
You left me lonely in the middle of the deep blue sea,
neither can I see the shore nor the way ahead of me.
The storm stole you from me all of a sudden,
I tried to find you, but it was all in vain.
You were no more there; there were only your memories,
None could ever feel what was in my moist eyes.
Lonely I am, lonely I shall be till I find you,
You are my final destination; I shall one day reach you.
I am walking in the empty streets searching for you,
in the boulevard of my broken dreams, I am lonely without you.
I feel desolate in the crowd, forsaken sitting alone,
I am so lonely even ages after you have gone.
Your memories are this mad man’s last resort,
every moment passing by is cutting this journey short.
Pain now feels good; I have joined hands with it,
it’s the gift of your love, I shall always preserve it.
Is there any cure for my illness or is my illness the cure?
loneliness shall be my best friend one day for sure.
You have forgotten me; my memories have deserted you,
I am still sitting at that park bench waiting for you.
Years may have passed by, in this excruciating journey,
I can still feel your head on my right shoulder honey!
Wednesday, June 30, 2010
"Guru"-what's in it for all of us?
All of you must have watched this movie by Mani Ratnam, an acclaimed director, released in late 2007.If you haven't, then you must watch it (on a legal DVD!).Loosely based on the late Polyester Prince (Dhirubhai Ambani), this is one great film Bollywood has churned out in the recent years.Here's more on the climax:
Gurubhai’s final speech in front of the commission is a scathing indictment of the vicious License-permit Raj that was prevalent in India post-independence. Individual entrepreneurship was stifled and thereby the growth of the Indian economy. Widespread red tapism ensured that the rich became richer and the poor remained poor, even decades after independence. The four and a half minute speech sums up the crux of India’s economic woes. It also contained the elements of a vociferous protest against the status quo and made a formidable pitch for a structural change in India’s economic policies.
The following are the key takeaways from the movie:
1.High risk appetite: Gurubhai demonstrates this in the game of coins when he was in Turkey. Calculated risk-taking pays more often than not in the world of business as well as life. One must come out of his/her comfort zone to achieve something big in life. A life without ambition is no life at all.
2.Entrepreneurial spirit: Gurubhai refuses the promotion offered by the multinational company he was working for in Turkey and surprises everybody when he decides to return to India to start something on his own. All this despite an elementary education, an uncooperative father, marginal capital and the anti-capitalist economic policies being followed in India under the veil of socialism. His gut feeling and tremendous self-belief is legendary and worth emulating.
3.Non conformity with archaic social norms: He defies the social norm by marrying Sujata who had earned notoriety throughout her village for a failed attempt to elope with her lover. Though Guru married her primarily for the dowry (to use as seed capital along with his own savings), he compensated for this by marrying against the accepted social norms and taking good care of his wife and brother-in-law.
4.Indomitable courage and self-belief: He takes the battle head-on with The Independent when its editor turns hostile towards him on account of his unethical business practices. He keeps his emotions aside and works overtime to make Shakti Industries the largest private company in India. However, he still respects the editor Manik Dasgupta as a fatherly figure for his support and encouragement when he was a struggler in Mumbai.
5.Dreaming big and working hard: Gurubhai dreamt bigger than any other Indian industrialist and thereby built a huge business empire from scratch. He worked tirelessly to achieve his high ambitions. He was a role model for the average Indian who wanted to make it big on his own. This is something all of us must imbibe in ourselves.
Though Gurubhai’s personality had a few shades of grey, his achievements and his contribution to Indian industry were unparalleled. He achieved in ten years what established industrialists with all the foreign degrees and connections could not in a hundred years. Sometimes, it is essential to break the law if it is not rational and against the public good.
Gurubhai’s final speech in front of the commission is a scathing indictment of the vicious License-permit Raj that was prevalent in India post-independence. Individual entrepreneurship was stifled and thereby the growth of the Indian economy. Widespread red tapism ensured that the rich became richer and the poor remained poor, even decades after independence. The four and a half minute speech sums up the crux of India’s economic woes. It also contained the elements of a vociferous protest against the status quo and made a formidable pitch for a structural change in India’s economic policies.
The following are the key takeaways from the movie:
1.High risk appetite: Gurubhai demonstrates this in the game of coins when he was in Turkey. Calculated risk-taking pays more often than not in the world of business as well as life. One must come out of his/her comfort zone to achieve something big in life. A life without ambition is no life at all.
2.Entrepreneurial spirit: Gurubhai refuses the promotion offered by the multinational company he was working for in Turkey and surprises everybody when he decides to return to India to start something on his own. All this despite an elementary education, an uncooperative father, marginal capital and the anti-capitalist economic policies being followed in India under the veil of socialism. His gut feeling and tremendous self-belief is legendary and worth emulating.
3.Non conformity with archaic social norms: He defies the social norm by marrying Sujata who had earned notoriety throughout her village for a failed attempt to elope with her lover. Though Guru married her primarily for the dowry (to use as seed capital along with his own savings), he compensated for this by marrying against the accepted social norms and taking good care of his wife and brother-in-law.
4.Indomitable courage and self-belief: He takes the battle head-on with The Independent when its editor turns hostile towards him on account of his unethical business practices. He keeps his emotions aside and works overtime to make Shakti Industries the largest private company in India. However, he still respects the editor Manik Dasgupta as a fatherly figure for his support and encouragement when he was a struggler in Mumbai.
5.Dreaming big and working hard: Gurubhai dreamt bigger than any other Indian industrialist and thereby built a huge business empire from scratch. He worked tirelessly to achieve his high ambitions. He was a role model for the average Indian who wanted to make it big on his own. This is something all of us must imbibe in ourselves.
Though Gurubhai’s personality had a few shades of grey, his achievements and his contribution to Indian industry were unparalleled. He achieved in ten years what established industrialists with all the foreign degrees and connections could not in a hundred years. Sometimes, it is essential to break the law if it is not rational and against the public good.
Lessons in sales from Rocket Singh
The movie is an excellent take on the way sales is done in India. It captures beautifully the changing dynamics of the market and therewith the rising expectations of the Indian consumers, more so in the business marketing context. The philosophy that business is not just about how much profit you make or about the revenue growth is largely being accepted across companies globally. It’s all about people now. The way customers and employees are dealt with will determine the long-term success of the firm. The major lessons, primarily from a sales strategy point of view have been outlined below:
1.Service is the key differentiator: Right from installation to maintenance and repair it all boils down to service. More so in the case of commoditized products and services like PCs and telecom respectively. There’s hardly much difference in the products sold by different companies in many categories. Hence the importance of service has increased manifold, even in an incentive-based (bribe) business market like India. Rocket Sales Corp (RSC) provided unprecedented levels of service and hence grew phenomenally.
2.Honesty pays: RSC never made any false promises to any of their customers. They did not bribe their way to get orders. It garnered great sales purely on the basis of good service and a strong commitment towards all their customers..
3.Partners not employees: At RSC, all the people were equal partners. Hence there was this sense of ownership in all the people working there. This strengthened the bond between the partners and the company as well as amongst themselves, which led to a 24*7 service culture in the firm. This was in sharp contrast to the bureaucratic and exploitative culture at AYS.
4.Proactive interpersonal skills: When RSC was launched, it was very difficult to bag orders from new customers with an absolutely zero track record. However, the protagonist who is very proactive utilizes his interpersonal skills really well to influence, persuade and convince the customers to buy PCs from RSC. He goes out of his way to allay any apprehensions in the minds of the customers when he gets ready to mortgage his scooter. Though it might appear ridiculous to many, this incident shows the commitment and desperation of a truly service-oriented startup. He also uses his interpersonal skills to resolve conflicts among the partners at RSC.
5.Risk-takers win: In sales or business for that matter, one must come out from his/her comfort zone and take calculated risks. They may not pay off always but they open new frontiers for the firm to cash in on in future. Every single employee must be empowered and encouraged to take such calculated risks to enhance bottom line and shareholder value.
1.Service is the key differentiator: Right from installation to maintenance and repair it all boils down to service. More so in the case of commoditized products and services like PCs and telecom respectively. There’s hardly much difference in the products sold by different companies in many categories. Hence the importance of service has increased manifold, even in an incentive-based (bribe) business market like India. Rocket Sales Corp (RSC) provided unprecedented levels of service and hence grew phenomenally.
2.Honesty pays: RSC never made any false promises to any of their customers. They did not bribe their way to get orders. It garnered great sales purely on the basis of good service and a strong commitment towards all their customers..
3.Partners not employees: At RSC, all the people were equal partners. Hence there was this sense of ownership in all the people working there. This strengthened the bond between the partners and the company as well as amongst themselves, which led to a 24*7 service culture in the firm. This was in sharp contrast to the bureaucratic and exploitative culture at AYS.
4.Proactive interpersonal skills: When RSC was launched, it was very difficult to bag orders from new customers with an absolutely zero track record. However, the protagonist who is very proactive utilizes his interpersonal skills really well to influence, persuade and convince the customers to buy PCs from RSC. He goes out of his way to allay any apprehensions in the minds of the customers when he gets ready to mortgage his scooter. Though it might appear ridiculous to many, this incident shows the commitment and desperation of a truly service-oriented startup. He also uses his interpersonal skills to resolve conflicts among the partners at RSC.
5.Risk-takers win: In sales or business for that matter, one must come out from his/her comfort zone and take calculated risks. They may not pay off always but they open new frontiers for the firm to cash in on in future. Every single employee must be empowered and encouraged to take such calculated risks to enhance bottom line and shareholder value.
Thursday, June 17, 2010
Best books on India
I stumbled upon a blog where enthusiastic and bibliophilic readers had posted the 10 best books on India (covering various dimensions like economy,culture,politics etc.).I have listed them down here expecting it might act as a reference for people who want to read quality books about India.I truly believe no single book can capture the country perfectly.However most of the books listed here are considered excellent by experts.
1. Khushwant Singh’s collection of essays on India
2. Chapter 8: “After the Permit Raj – India’s Awakening”, from “The Commanding Heights” by Daniel Yergin and Joseph Stanislaw.
3. “Culture Shock! India” by Gitanjal Kolanad – how Indian society works.
4. “Everybody loves a good draught”, by P. Sainath – Related to Vidarbha farmer suicides.
5. “The idea of India” — Sunil Khilnani
6. “In the name of democracy” by Bipan Chandra – Emergency period in 1970s.
7. “India 2020″ by APJ Kalam.
8. Gurcharan Das’s “India Unbound” and “The Elephant Paradigm”.
9. “India in slowmotion” by Mark Tully.
10. “In Light of India” — Octavio Paz.
11. “Empire of the Soul” – Paul William Roberts.
12. “The Burdens of Democracy” by Pratap Bhanu Mehta.
13. “The Best of R K Laxman”.
14. “India’s Economic Reforms” – Jagdish Bhagwati.
15. “The Age of Kali” - William Dalrymple.
16. “The Argumentative Indian” by Amartya Sen.
Add to the list "India after Gandhi" by Ramachandra Guha, a must-read for anyone who wants to know the history of India post independence.I am still reading it.
Cheers!
1. Khushwant Singh’s collection of essays on India
2. Chapter 8: “After the Permit Raj – India’s Awakening”, from “The Commanding Heights” by Daniel Yergin and Joseph Stanislaw.
3. “Culture Shock! India” by Gitanjal Kolanad – how Indian society works.
4. “Everybody loves a good draught”, by P. Sainath – Related to Vidarbha farmer suicides.
5. “The idea of India” — Sunil Khilnani
6. “In the name of democracy” by Bipan Chandra – Emergency period in 1970s.
7. “India 2020″ by APJ Kalam.
8. Gurcharan Das’s “India Unbound” and “The Elephant Paradigm”.
9. “India in slowmotion” by Mark Tully.
10. “In Light of India” — Octavio Paz.
11. “Empire of the Soul” – Paul William Roberts.
12. “The Burdens of Democracy” by Pratap Bhanu Mehta.
13. “The Best of R K Laxman”.
14. “India’s Economic Reforms” – Jagdish Bhagwati.
15. “The Age of Kali” - William Dalrymple.
16. “The Argumentative Indian” by Amartya Sen.
Add to the list "India after Gandhi" by Ramachandra Guha, a must-read for anyone who wants to know the history of India post independence.I am still reading it.
Cheers!
Where is all the money in the world, when all the nations are in debt?
An interesting question indeed raised by my friend Vivek Jain on Facebook.Thanks VJ!
Here are my two cents on this.I am open to insights from economics enthusiasts and others.
If we look at the fiscal health of all the major economies in the world, as well as the emerging economies like the BRICS (Brazil,Russia,India,China and South Africa, for the uninitiated), one can find a common link and that is all are in debt, to a varying extent.The US, which is the largest economy in the world (GDP approximately $ 14 trillion), is the most indebted country.The Chinese hold trillions of dollars of American treasury bonds.The American fiscal situation has been described as precarious and unsustainable by many economists.China however has a massive trade surplus and hence has little to worry about w.r.t. its debt burden.
Coming to the question in hand,all of us know that the central banks hold billions of dollars in terms of cash and other securities besides gold.So do the multilateral institutions like the World Bank, IMF and the Asian Development Bank in their coffers.Besides, a huge amount of cash is also with the large companies, hedge funds,private equity firms etc. and billionaire investors like George Soros and Warren Buffet.Add to that all the cash in the Swiss banks which only God knows!
Still all this doesnt count for the entire debt of all the nations.The reality is all the debt doesn't exist in physical form.A lot of it just exists on paper i.e.sovereign guarantees by nations.Nations are indebted to each other apart from institutions like the WB,IMF etc.Hence to consider that all the debt is kept in the coffers of central banks or some other institution for that matter would be naive.
Keep smiling and stay tuned!!
Here are my two cents on this.I am open to insights from economics enthusiasts and others.
If we look at the fiscal health of all the major economies in the world, as well as the emerging economies like the BRICS (Brazil,Russia,India,China and South Africa, for the uninitiated), one can find a common link and that is all are in debt, to a varying extent.The US, which is the largest economy in the world (GDP approximately $ 14 trillion), is the most indebted country.The Chinese hold trillions of dollars of American treasury bonds.The American fiscal situation has been described as precarious and unsustainable by many economists.China however has a massive trade surplus and hence has little to worry about w.r.t. its debt burden.
Coming to the question in hand,all of us know that the central banks hold billions of dollars in terms of cash and other securities besides gold.So do the multilateral institutions like the World Bank, IMF and the Asian Development Bank in their coffers.Besides, a huge amount of cash is also with the large companies, hedge funds,private equity firms etc. and billionaire investors like George Soros and Warren Buffet.Add to that all the cash in the Swiss banks which only God knows!
Still all this doesnt count for the entire debt of all the nations.The reality is all the debt doesn't exist in physical form.A lot of it just exists on paper i.e.sovereign guarantees by nations.Nations are indebted to each other apart from institutions like the WB,IMF etc.Hence to consider that all the debt is kept in the coffers of central banks or some other institution for that matter would be naive.
Keep smiling and stay tuned!!
Monday, June 7, 2010
SIP @ Mumbai
Well,this isn't going to be a description of my SIP at Mumbai.Have had enough of it.It's about all those funny moments we (Mallik,Gupta,Ganesh,Kirpa and myself of SDMIMD Mysore)shared in the Maximum City during April-May 2010.Ganesh was the non-resident member of our group.
For the record, we interned with CTech Labs, an IIT Bombay start-up.
Its hard to describe those fun-filled moments,numerous as they were.We shared a 1 BHK flat located in close proximity to the IIT Bombay campus.The house had to be furnished with a TV,a showcase and other USEFUL stuff.It was an upper middle-class locality in Powai.
Visits to places like the Gateway of India (GOI),the ferry-ride to the Elephanta caves (13 km from GOI in the sea)was simply breath-taking.The ferry was overcrowded with college-going crowd.The sculptures were mesmerisingly beautiful.Rock-cut sculptures of Lord Shiva, Mahaveer etc. reminded us of the great Indian architecture,something we rarely get to see in the modern times.Sadly,the islands are cut-off from the city and basic services like electricity aren't provided.
The visit to Juhu beach was equally enjoyable.The clayey beach of Juhu was indeed a surprise for me.The experience of playing in the sea water watching the beautiful sunset was a memory worth cherishing.We returned home but not before having the famous Paav-bhaji of Mumbai.
Many other moments come to my mind,not all of which can be shared here due to many reasons!The midnight trips to have ice-cream,auto rides without any destination with Gupta singing Rafi's song "Pukarta chala hun main" (with Kirpa and me in company) was one such instance.Overall, we spent two unforgettable months there despite the sweltering heat and high humidity.The biggest plus out of the trip was that we got to know each other a lot better, built great camaraderie and of course, did good work at CTech too!
For the record, we interned with CTech Labs, an IIT Bombay start-up.
Its hard to describe those fun-filled moments,numerous as they were.We shared a 1 BHK flat located in close proximity to the IIT Bombay campus.The house had to be furnished with a TV,a showcase and other USEFUL stuff.It was an upper middle-class locality in Powai.
Visits to places like the Gateway of India (GOI),the ferry-ride to the Elephanta caves (13 km from GOI in the sea)was simply breath-taking.The ferry was overcrowded with college-going crowd.The sculptures were mesmerisingly beautiful.Rock-cut sculptures of Lord Shiva, Mahaveer etc. reminded us of the great Indian architecture,something we rarely get to see in the modern times.Sadly,the islands are cut-off from the city and basic services like electricity aren't provided.
The visit to Juhu beach was equally enjoyable.The clayey beach of Juhu was indeed a surprise for me.The experience of playing in the sea water watching the beautiful sunset was a memory worth cherishing.We returned home but not before having the famous Paav-bhaji of Mumbai.
Many other moments come to my mind,not all of which can be shared here due to many reasons!The midnight trips to have ice-cream,auto rides without any destination with Gupta singing Rafi's song "Pukarta chala hun main" (with Kirpa and me in company) was one such instance.Overall, we spent two unforgettable months there despite the sweltering heat and high humidity.The biggest plus out of the trip was that we got to know each other a lot better, built great camaraderie and of course, did good work at CTech too!
Monday, March 29, 2010
A day @ Pune
I reached Pune today afternoon to meet my long time buddy Shashank who is doing his MBA.We drove to a few places in the evening to have a feel of the city.Two things struck me here:
Firstly,the name plates of all shops n other commercial establishments had a marathi version invariably.Secondly,the girls here at Pune. Simply gorgeous,fashionable and damn hot, to say the least. I have been to all the major cities in India, but this place has some of the most gorgeous under-25 Indian women.You can count on me for this.
Wanted to explore this city more but gotta leave for Mumbai tomorrow as internship is going to start off from 31 March.Would love to see more of this city where tradition and modernity blend sublimely.
Bye till then and keep smiling!
Firstly,the name plates of all shops n other commercial establishments had a marathi version invariably.Secondly,the girls here at Pune. Simply gorgeous,fashionable and damn hot, to say the least. I have been to all the major cities in India, but this place has some of the most gorgeous under-25 Indian women.You can count on me for this.
Wanted to explore this city more but gotta leave for Mumbai tomorrow as internship is going to start off from 31 March.Would love to see more of this city where tradition and modernity blend sublimely.
Bye till then and keep smiling!
Monday, February 8, 2010
Rollback of fiscal stimulus
This year’s Union Budget is certainly not the appropriate time to roll back the fiscal stimulus packages. It is indeed true that the worst phase of economic slowdown is behind us and demand has picked up substantially across sectors like IT/ITeS, cement, steel, auto etc. Bottomlines of companies have been improving since the Q3 of this fiscal, some of which were drastically hit by the slowdown. GDP has expanded by 7% in the first half of this fiscal (2009-10) and exports are slowly turning positive. With industrial production and services sector gaining strength, business sentiment and consumer confidence have just began to improve. The economic recovery, however, is still very much a work-in-progress and the green shoots need continued nourishment in the form of fiscal stimulus and expansionary monetary policy measures. A sudden and complete withdrawal may push the manufacturing and services sectors into another deep slump.
The ballooning fiscal deficit of 6.8% in 2009-10 (estimated) is ominous and India is far short of its FRBM (Fiscal Responsibility and Budget Management) targets. The fiscal deficit is supposed to remain high even in the next fiscal as the government may fall short of its target revenue collections. Withdrawal of fiscal stimulus is inevitable but the timing has to be right. Overall levels of inflation still don’t justify the withdrawal of stimulus packages though food prices are at an 11-year high, primarily owing to severe supply-side constraints in the agricultural sector. Hence there is need for a phased withdrawal from the beginning of Q2 of 2010-11.
The ballooning fiscal deficit of 6.8% in 2009-10 (estimated) is ominous and India is far short of its FRBM (Fiscal Responsibility and Budget Management) targets. The fiscal deficit is supposed to remain high even in the next fiscal as the government may fall short of its target revenue collections. Withdrawal of fiscal stimulus is inevitable but the timing has to be right. Overall levels of inflation still don’t justify the withdrawal of stimulus packages though food prices are at an 11-year high, primarily owing to severe supply-side constraints in the agricultural sector. Hence there is need for a phased withdrawal from the beginning of Q2 of 2010-11.
Friday, January 29, 2010
Naissance 2010 kicks off @ SDMIMD Mysore
SDMIMD's annual management fest Naissance is all set to kick off today with a large turnout of contestants from various B-schools.The 3-day extravaganza has loads of exciting events on the anvil pertaining to various streams like Marketing,Operations,Finance,HR etc.
There is a Business Quiz too to tickle your grey cells.I am a part of the B-quiz team.
More updates in my forthcoming posts.
Keep smiling and stay tuned!
There is a Business Quiz too to tickle your grey cells.I am a part of the B-quiz team.
More updates in my forthcoming posts.
Keep smiling and stay tuned!
Monday, January 25, 2010
Thoughts after watching "Corporate"
DISCLAIMER-This is not a movie review.
I watched the movie Corporate for the first time yesterday night.A movie I had longed to watch for quite sometime.
The movie depicted the dark side of corporate life beautifully.But two pertinent questions were raised in the movie to which there are no easy answers.I am saying this after 4 years of business management education (3 years BBA+1 year MBA).I am undergoing a course on "Ethics and Indian Values" in the third term at SDMIMD and I think the movie is an excellent case reflecting the way business is done in India (may be globally too, with minor variations)
Q1. Is the business of business a strong bottom line at any cost?
Q2. Does business need politics more or is it the other way around?
I have been thinking hard over these questions but reality seems to be a far cry from the ideal situation.
A free market economy must provide a fair/level- playing field to all players.But corruption and nepotism in the business-politics nexus deny a fair chance to all players, which stifles competition and defeats the very purpose of a free market economy.India is gradually transitioning from a mixed economy to a free market one thanks to reforms post-1991.But the transition is fraught with myriad issues pertaining to corruption,unethical behavior etc. that have put serious question marks on the India growth story.Business-politics nexus is found globally and history bears testimony to this.The giants generally bribe their way through whenever any obstacle arises in their plans--be it protest against land acquisition, public health or environmental impact.Regulators in general and Indian in particular, haven't been successful to that extent in curbing such unethical things, with far-reaching repercussions.
Lobbyists are hired to fight for corporates in parliaments (and paid millions of $) and its an open secret in developed economies like the US, but we don't have such an open system in India, though things are going on discreetly.
I think a stronger and more efficient regulatory mechanism along with a more aware/pro-active civil society can check this old menace that has the potential to jeopardize India's ambition of transforming itself into a TRULY developed nation.
I watched the movie Corporate for the first time yesterday night.A movie I had longed to watch for quite sometime.
The movie depicted the dark side of corporate life beautifully.But two pertinent questions were raised in the movie to which there are no easy answers.I am saying this after 4 years of business management education (3 years BBA+1 year MBA).I am undergoing a course on "Ethics and Indian Values" in the third term at SDMIMD and I think the movie is an excellent case reflecting the way business is done in India (may be globally too, with minor variations)
Q1. Is the business of business a strong bottom line at any cost?
Q2. Does business need politics more or is it the other way around?
I have been thinking hard over these questions but reality seems to be a far cry from the ideal situation.
A free market economy must provide a fair/level- playing field to all players.But corruption and nepotism in the business-politics nexus deny a fair chance to all players, which stifles competition and defeats the very purpose of a free market economy.India is gradually transitioning from a mixed economy to a free market one thanks to reforms post-1991.But the transition is fraught with myriad issues pertaining to corruption,unethical behavior etc. that have put serious question marks on the India growth story.Business-politics nexus is found globally and history bears testimony to this.The giants generally bribe their way through whenever any obstacle arises in their plans--be it protest against land acquisition, public health or environmental impact.Regulators in general and Indian in particular, haven't been successful to that extent in curbing such unethical things, with far-reaching repercussions.
Lobbyists are hired to fight for corporates in parliaments (and paid millions of $) and its an open secret in developed economies like the US, but we don't have such an open system in India, though things are going on discreetly.
I think a stronger and more efficient regulatory mechanism along with a more aware/pro-active civil society can check this old menace that has the potential to jeopardize India's ambition of transforming itself into a TRULY developed nation.
Friday, January 22, 2010
Inclusiveness in B-school admissions in India (from my Wordpress blog)
Hi folks,
Penned this article in October 2008 while doing BBA at Kolkata
The MBA mania has already gripped the nation with the dates for all the major entrance exams out. The frenzy for those coveted 3 letters in one’s resume’ is turning more insane with each passing year. Sample this: More than 2 lac aspirants appeared for the CAT last year with barely 1700 odd students finally securing admissions into the hallowed portals of the seven IIMs. Simple arithmetic tells us the seat-candidate ratio, a mind-boggling 1: 118. All this might send a chill down the spine of any MBA aspirant. But it is hardly surprising to know that it is relatively easier to get into Harvard or Kellogg’s which attract students globally (and are the topmost B-schools in the world) compared to our IIMs which attract the students locally.
Some argue that the top-rung management institutes should maintain their exclusivity by keeping their annual intakes as low as possible so that the quality of students does not get diluted. But then is everything alright with the entire B-school selection process in India? A closer scrutiny reveals something terribly wrong. An analysis of the batch profiles of IIMs and other super-league Indian B-schools tells us that engineers constitute more than 80% of the total students, with students from humanities barely present. The entrance exams are heavily focused on quantitative aptitude and data interpretation which come easily to engineers. Excessive focus on entrance exam percentiles deprives many of the highly deserving students from non-engineering streams, the opportunity to pursue an MBA from such renowned institutions. As a result they have to settle for the mediocre B-schools. With the increase in the number of engineering graduates (mass-produced) every year, it is not difficult to imagine the day when only engineers shall constitute the students of such top B-schools.
The major reasons behind this phenomenon are firstly, most of the bright students in India opt for engineering or pure sciences after completing their higher secondary education. The rigor of a 4-year long course fails to instill the spirit of creativity and original thinking in them. The lure of fat pay packets and swanky offices prove too much for such students, who instead of working in companies where they can utilize their knowledge of engineering or pursuing their master’s for a career in research, end up sitting for B-school entrance exams. This not only deprives the core industrial sector of quality engineers but also severely dents India’s indigenous research and development (as there aren’t enough people with PhDs in engineering subjects further worsening the crunch for quality faculty in engineering colleges).The fundamental nature of the MBA entrance exams confers on them an overwhelming edge over students from other streams. In a rapidly globalizing world, companies need managers who are thought leaders and who can execute their plans keeping in mind all the stakeholders with minimal conflict, not people who are good at solving complex mathematical problems in limited time. The ability to think over an issue holistically is ignored altogether whereas this is one of the most essential traits of a successful manager in this modern era.
It is therefore essential to look at the B-school admission process abroad for any remedies. In the U.S, as well as at other places, an entrance exam is conducted to gauge the aptitude of the applicant for an MBA to some extent. However it is not used as a rejecting tool like the CAT and other entrance exams in India. A host of other parameters like work experience, academic track-record, co-curricular and extra-curricular achievements are given due weightage while evaluating the application of a student. Almost one-third of the students in top B-schools abroad are from business studies background with students from humanities aptly represented. The demand-supply situation is not so skewed abroad when it comes to quality management education. Having optional papers like psychology, G.K, economics etc. in the place of quantitative aptitude and data interpretation in the MBA entrance exams would encourage students from diverse streams to showcase their talent properly. This is just one of the ways to make the entire admission process more inclusive so that students don’t feel left out. A well-balanced pool of students graduating from such top-class institutes shall definitely bring much more to the table for recruiters as well as create world-class entrepreneurs to propel India’s economy to a new level altogether. Educationists and academicians of top Indian B-schools need to rethink and restructure the whole admission process without any further delay.
7 months at SDMIMD Mysore
I joined this institute on the 13th of June, 2009 with a heart full of aspirations and bags full of luggage!
7 months have passed by in a jiffy.Well into the third trimester, it is indeed an interesting thought to look back and reminisce the time spent here.
The institute is one of the most beautiful B-school campuses in India.Single room hostels and vegetarian mess are a few of the differentiating factors if not USPs.It took me 2-3 months before I could immerse myself entirely into the MBA (PGDM technically) programme.After all, I was a fresher straight out of college (09 passout).
BBA at BIT Mesra-Kolkata Centre was so relaxed and easy.Rather I took the course easy, as you can interpret. MBA, a completely different ball-game together.Loads of books and very limited time to study.Cant blame time as I dint utilise it to my satisfaction.All the courses appeared familiar and so complacency crept in.
Two trimesters passed by.A few courses done in marketing,finance,operations,systems etc. Enjoyed Corporate Finance and Microeconomics courses a lot. Excited about Macroeconomics course this term, something I dont mind spending more time on.
Life in Kolkata and Mysore were as different as chalk and cheese.Still adaptability holds the key and I am more than happy here.Missing Kolkata and the friends there though.Fish,sweets and fast food on Kolkata's streets still water my palate.
Folks here are nice and friendly.Have made some great friends in Dinesh,Nitish,Shastry,Chandu et al and changed the room from 13 to 27, for reasons I am not too sure of.People here celebrate all kinds of festivals--Diwali,navaratri,uttarayan,pongal etc. managing time really well despite hectic schedules.Something I had never imagined at a B-school.Keeps people in good humour and builds camaraderie though.
What else?I have already typed a long post.My batchmates are from varied backgrounds and blessed with varied skills.A few of them have considerable IT sector experience.Profs are good in general (exceptions are always there, you know!).
We ( I and Robin) had been to Institute of Public Enterprise,Hyderabad to present our paper which was selected from 25 such entries including the IIMs.It was a great experience.More on that in another post.
Keep smiling...
Indian Education System-Need for Radical Reforms (from my wordpress blog)
I penned this article in August 2009 which was published in "Dimensions"-quarterly journal of SDMIMD Mysore
“A 2006 evaluation of universities and research institutes all over the world… has not a single Indian university in the world’s top 300”
India has been widely hailed for being the second fastest growing economy in the world, with an 8%+ GDP growth over the past few years, before the current global financial crisis set in. There is a gradual transition towards a knowledge economy from the current status of a service-oriented economy. Highly skilled knowledge workers are the fuel required to drive this transition. The need for quality education has never been so acutely felt before. So let’s look at the Indian education system to find out what’s the ground reality.
2001 government statistics hold the national literacy to be around 64.84%. The rate of increase of literacy is more in rural areas than in urban areas. Female literacy was at a national average of 53.63% whereas the male literacy stood at 75.26%. Within the Indian states, Kerala has shown the highest literacy rates of 90.02% whereas Bihar averaged lower than 50% literacy, the lowest in India. The 2001 statistics also indicated that the total number of ‘absolute non literates’ in the country was 30.4 crore.
India has made a huge progress in terms of increasing primary education attendance rate and expanding literacy to approximately two thirds of the population. Although no Indian university made to the top 300 of the Chinese-conducted Academic Ranking of World Universities in 2006,three Indian universities/institutes were listed in the Times Higher Education list of the world’s top 200 universities — Indian Institutes of Technology, Indian Institutes of Management, and Jawaharlal Nehru University in 2005 and 2006.Six Indian Institutes of Technology and the Birla Institute of Technology and Science - Pilani were listed among the top 20 science and technology schools in Asia by Asiaweek. The Indian School of Business situated in Hyderabad was ranked number 15 in global MBA rankings by the Financial Times of London in 2009.while the All India Institute of Medical Sciences has been recognized as a global leader in medical research and treatment. The private education market in India is estimated to be worth $40 billion (about Rs. 2, 00,000 crore, almost double the size of the FMCG market in India) in 2008 and will increase to $68 billion by 2012, according to reports.
There are 1,346 degree-granting engineering colleges in India with an annual student intake of 440,000, plus 1,244 polytechnics with an annual intake of 265,000. The higher education systems in India comprise of more than17000 colleges, 20 central universities, 217 State Universities, 106 Deemed to Universities and 13 institutes of national importance. This number will soon inflate as the setting up of 30 more central universities, 8 new IITs, 7 IIMs and 5 new Indian Institutes of Science are now proposed.
However things are not all that hunky-dory as they might appear at the outset. Thousands of crores of rupees have been pumped into the education sector, which continues to be a state subject, every year since independence. Every year the annual budget allocates astronomical amounts for primary and secondary education but any significant qualitative improvement still remains to be seen, especially in the primary education arena. Despite growing investment in education, 40% of the population is illiterate and only 15% of the students reach high school. As of 2008, India’s post-secondary high schools offer only enough seats for 7% of India’s college-age population, 25% of teaching positions nationwide are vacant, and 57% of college professors lack either a master’s or PhD degree. The Gross Enrollment Ratio in Indian higher education is estimated to be about 12.4%, as compared to estimated world average of 26%. We may boast of our IITs and IIMs to be the centres of excellence in education in India but even they are fraught with several administrative and infrastructural problems, which prevent them from being the global centres of educational excellence like Harvard, Stanford and other Ivy League universities. About 500 students refused to take admission in the newly set-up IITs owing to poor infrastructure and inadequate faculty forcing the HRD ministry to rethink on setting up more IITs and IIMs.
In the Union Budget 2009 a substantial hike in the Plan Budget for higher education, a new loan interest subsidy scheme and scholarships for university-level education, along with a National Mission in Education through ICT are some of the key features. Education has been allocated Rs 36, 400 crore with Rs 26,800 being earmarked for school education and Rs 9,600 crore for higher education. The allocation, including the non-plan component, is Rs 44,528.21 crore, up 19 per cent. But the funds are not spent fully in most cases. Reasons cited are that the state governments do not release funds in time or the implementing agencies are inefficient and only wake up to expenditure at the end of the year before the reporting process begins. The government has certainly been ordinary in its achievements in the primary education sector. A host of programs like the Universal Primary Education, Sarva Shiksha Abhiyaan etc. have not yielded desirable results. There is certainly no significant improvement at the grass-root level i.e. primary schools in the rural areas, where still 65% of India lives.We no more require “just literates” in this age of science and technology.
By radical reforms, three things are imminent. These are deregulation, globalization and privatization. The liberalisation process started way back in 1991 has helped India become one of the most happening economies in the world with considerable development across all sectors. However a similar liberalisation process in education is drastically needed to sustain India’s 8%+ GDP growth for the next 3 to 4 decades to achieve the status of an economically developed nation, ready to take on anyone, in any field.
1. Deregulation: We need to have a single umbrella regulator named Education Regulatory and Development Authority with 100% authority to regulate the various players and create a level playing field for all the “for-profit” and “not-for-profit” players in this area, thereby ensuring the overall quality standards. It should not pose unnecessary barriers on the entry of domestic or foreign players. It should stress on educating the students by coming up with authentic quality ratings for all the institutions and let them decide on their own. However, it must take strong action against unscrupulous and fly-by-night operators.
2. Globalization:”What Dr Manmohan Singh did to the economy in 1991, should be done to the education sector in 2009,” said Kapil Sibal, the Union Minister for Human Resource Development, on the sidelines of the 17th Conference of Commonwealth Education Ministers. The government is encouraging reputed foreign universities to set up base in India so as to upgrade the quality of higher education and stem the exodus of students to foreign shores, which is an welcome move by all means. The IITs and the IIMs should also be allowed to set up campuses abroad to foster globalization of quality Indian education.
3. Privatisation: The entire primary education sector needs to be privatized. Education is too critically important for the future of India for it to be left to the government. In today’s world, more than ever, education is a dynamic service. It requires innovation, creativity, entrepreneurial talent, risk-taking ability and human resources—all of which are sorely missing in the government. Corporate foundations, under corporate social responsibility, have done a commendable job in providing elementary education in the remotest of villages in India like the Infosys foundation. This fact adds to the credibility of the above idea.
The consequences of privatization are manifold. The supply of educational services will increase, the quality will improve, and prices will come down. These are all everyday first-order efficiency effects of letting markets work. Secondly, there will be increased productivity, increased production, and better allocative efficiency within the sector. Thirdly, benefits will arise from the increasing returns to scale associated with the production of education. Finally, there are very important forward and backward linkages that bind the sector with the overall economy. One of them is the use of information and communications technology (ICT) tools. It will give a boost to the IT sector in a way that is unthinkable in any other endeavor. Companies like Educomp and NIIT have leveraged the opportunities available in this area to make profits by providing digital lessons and computer hardware to rural Indian schools.
Access to quality primary education must be made free for all those who cant afford it so that the goal of social equality can be achieved. Quotas in premier institutes is just a quick-fix solution with catastrophical repercussions. There needs to be a paradigm shift from rote-learning to conceptual learning with better teaching aids by creating an environment where learners can ignite their inherent desire to learn. The evaluation system which is heavily marks-based, needs to be replaced by one that tests the students’ conceptual clarity and innovative thinking. We can certainly take many cues from the American higher education system in this regard.
Nothing short of a radical surgery of the entire education system is required if India has to “really” compete with China and other developing economies. It is beyond doubt that we Indians are highly talented, but we need to have that necessary education system that can produce the likes of CV Raman, Amartya Sen, NR Narayana Murthy and others, in more numbers. Lastly, although this is an issue of considerable debate and controversy, affirmative action is absolutely essential. After the Green Revolution and the Telecom Revolution , India seriously needs an Education Revolution that shall catapult it from the quagmire of poverty and mediocrity to the zenith of prosperity and brilliance.
References:
- 1. www.wikipedia.org
- 2. Atanu Dey’s blog
- 3. www.forbes.com
- 4. World Bank’s India Education Report, 2008
- 5. Union Budget 2009 speech.
..
Note:
Certain statistical figures and a few lines which better expressed my views have been quoted as they are. I duly acknowledge the concerned authors.
IPE Paper Presentation (from my Wordpress blog)
Hi folks,
This was our paper (Robin,a batchmate and I) which was shortlisted for presentation at Institute of Public Enterprise,Hyderabad.
Executive Summary:
The global financial crisis and the subsequent recession in the Western economies led to an economic slowdown in India. The slowdown which started in July 2008 still continues and has been tackled reasonably successfully, thanks to the concerted efforts of the central government and Indian corporates. Exports were badly down and lakhs of Indian workers lost their jobs. Credit crunch and low domestic demand further aggravated the woes of Indian companies. Fiscal stimulus packages along with drastic cost management helped India Inc to register a healthy growth of 6.7% in the last fiscal. A strong and conservative regulatory mechanism along with a sound banking system, little exposed to the toxic assets of US banks, saved India from further doom. The sensex has risen to 17000 in December 09 from 8000 in February 09 clearly indicating the rebounding confidence among domestic and foreign investors in the India growth story.
The next 18 months pose significant opportunities as well as challenges. Challenges include a high cost of borrowing, corporate governance, leadership and the same old infrastructural bottlenecks. Most of the major companies have improved their toplines and profitability in some way, though some sectors like real estate are yet to turn on the significant volumes.FDI and FII flows have resumed interest and ample liquidity exists in the system. The focus of India Inc needs to be on implementing corporate governance standards,inclusive growth, skill-building and “going green”. Political will and a pragmatic approach to policy-making would do wonders to further the sustainable growth of Indian companies. Any amount of complacency in reformist policy-making and subsequent implementation can severely jeopardize India’s chances, as it can’t take its place as the second fastest growing economy for granted.
Maiden post
Hi folks!
Welcome to my new blog.I will be as honest (politically incorrect!) as possible regarding topics I write about.You are welcome to agree or disagree.
The whole idea behind the blog is twofold:
1.To let my friends and acquaintances know what’s on my mind.
2.To refine my writing skills and articulate things better.
I will try to write as often as possible.
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