Engineering Cubed!

It is perhaps a moment of deep satisfaction when an educational trust is successful in the endeavour that it sets out to achieve, and so was the case with Citizens Welfare Association (CWA) established in 2000. With an aim of meeting the demands of a developing India, CWA set up Billabong High International School in 2006 in Thane, Mumbai. Buoyed by its success, with 1700 students presently studying in its 80,000-square feet campus, the ECube Global College was set up in August 2010.

Catering to three streams of engineering, namely, computer, mechanical, and electronics, ECube’s name symbolises the values of the 3Es “enrich, empower, and enlighten.” It has been set up in partnership with Newcastle University, UK, with the mandate of providing global exposure post the course’s first year. Mr. Sandeep Goenka shares about the vision, “In a bid to remove the uncertainties that students feel when they are pass out of school, we decided to provide the comfort of an institute to cater to engineering aspirations, an idea we had been toying with for some time. Moreover, through our international alliance, we wanted to enable a smooth transition for students when they go overseas to study.”

Thus began the journey of ECube, where students spend the first year on the Thane campus, and are expected to apply to enter the second year of the corresponding degree course at the Newcastle University. Click here to continue...

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TIME believes in her!

Sheetal MAFATLAL...has been rated as India’s Fashion Retail Pioneer by the TIME Magazine

Known for her flamboyant style and elegance, Sheetal Mafatlal is the President of Mafatlal Luxury Ltd. When Sheetal, the style icon, married Atulya Mafatlal in 2000, she joined one of the oldest industrial families of India. Sheetal, who started with her father’s business, ultimately carved a niche for herself as a businesswoman by selling modular kitchens before founding Mafatlal Luxury. Interestingly, Sheetal fits the ‘beauty with brains’ plume perfectly, with degrees in finance & law.

She established Mafatlal Luxury in 2005 when the Mafatlal Group chose to make a strategic foray into luxury retailing. Not only this, she is also President of Mafatlal Home Products Ltd. The lady who always wanted to do something connected to fashion, brought luxury and fashion together by partnering with Valentino Fashion Group and opened the first Valentino boutique in Delhi last year.

“My ambition is to create a retail commemorate for a variety of brands,” Sheetal told 4Ps B&M. With so many feathers already on her hat, she was also profiled as India’s Fashion Retail Pioneer by TIME Magazine. The future would surely see Sheetal dictate India’s fashion essentials...

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Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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The Sunday Indian

Mining sector reform on the anvil

The policy envisages “attracting domestic & foreign direct investments to the tune of Rs.1,000 billion in the mining sector & generating direct & indirect employment for about 500,000 skilled & unskilled labour force by 2011.” If approved, it would allow 100% FDI in mining of all minerals, barring Coal, Lignite & atomic minerals. Furthermore, staterun agencies will be treated at par with private entities for the purpose of award of concessions. There will be no mandatory joint venture with local or state-owned companies for mining. The Secretary General of Federation of Indian Mineral Industries, R.K. Sharma, told B&E, “On the whole, it is a good step forward, but the auction of mineral deposits & provision of captive mines needs to be opposed.” He further added, “Tatas are sitting over 3,000 million tonnes of iron ore deposits & produce only about 5 million tonnes of steel; while SAIL, which has control over 5,000 million tonnes of steel, produces over 13.33 million tonnes of steel.”

Development needs to be promoted, but selling the assets of the nation at runaway price would be abominable & a breach of people’s trust in the state.

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Source: IIPM Editorial, 2008

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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A visionary optimist & a shrewd general, who’s witnessed the worst and prepares for the best!

Born on February 19, 1956 in Cicinnati, Ohio, the six-foot-four-inch Jeff had in some way been seasoned with GE’s value right since his childhood days as his father was an aircraft engines manager at GE’s Aviation unit. He met his wife Anrea at GE Plastics & has a daughter named Sarah. He holds Bachelor of Science degrees in Economics & Mathematics from Dartmouth College & topped it all up with an MBA degree from Harvard.

Th e highlight of his tenure at GE has remained the revival of the stagnant medical-products unit, transforming the company into being more consumer-oriented & his effective handling of the ‘environmental’ approach of GE called ‘Ecomagination’. However, challenges remain & the primary one being giving smiles to GE shareholders around the globe, amongst whom Jeff unlike many legendary CEOs, is not quite a hero.

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Source: IIPM Editorial, 2008

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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Don’t worry pop, i’ll blow it all up!

Perhaps the most dramatic paper that electrifyingly shook age-old perceptions was the one presented in 2004 by stalwart professors Belen Villalonga (Harvard Business School) and Raphael Amit (Wharton), who analysed “all” Fortune 500 firms and proved unequivocally that not only do the stock returns of family firms consistently show higher levels of risk, but also that “when ‘descendants’ (of founders or founding families) serve as CEOs, firm value ‘is’ destroyed!” If one presumed that modern corporate governance norms were enough to mitigate the damage caused by family successors, Villalonga and Raphael prove further that descendant CEOs “destroy value whether or not the family has control-enhancing mechanisms.” While the most noted 2003 research by London Business School proffered that family businesses “risk their growth potential if they fail to recruit from outside,” most amusing was the Economist research at the turn of the century that commented how the death of a significant inside shareholder resulted in a shareholders’ wealth increase (“the larger the deceased’s shareholding, the bigger the subsequent rise!” ) Strangely, this finding gets humungous support from the subsequent benchmark 2005 research paper titled ‘Firm Performance...In Family Managed Firms’ by David Hillier (Leeds) and Patrick McColgan (Aberdeen), which documents positive stock price increases to the “announcement of the sudden death of a company’s founder executive.” But more seriously, they also indisputably brought out how family CEO successions are almost always followed by dramatic declines in not only stock performance, but most dangerously, even operating performance! Not surprisingly, the exits of family CEOs from family owned firms led to increases in operating performance, revenues, employment, stock value, but only if the new CEO being appointed was from outside the family! A fact vindicated a few years before in 2003 by the radical Pérez-González of Columbia Business School; and even by Professor Borokhovich of Cleveland University; and by Bath, Trygve, Schone of Institute of Social Research (Journal of Corporate Finance, 2005); Slovin (Louisiana University) and Sushka (Arizona University)... the list is so endless that it seems stupid to keep on repeating the same fact.

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Source: IIPM Editorial, 2008

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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Japan’s nestling of sumo wrestling

What appears to be merely a display of brute force, Japan’s most popular sport, in reality, is seeped in history, legend and also religion for many centuries. But sadly, it is literally wincing from a major blow lately. The Japan Sumo Association recently called off the tests for new recruits after the candidature was zero, for the first time in its history! With foreigners taking a liking to the sport, authorities in Japan recently came out with the evident waning interest of the Japanese for the same. Only 18.3% of the natives ‘watch’ sumo. What’s even more disheartening is that no Japanese wrestler finds a place in the country’s top-10 favourite athlete list, indicating that one of the oldest sports might be close to breathing its last.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

For Indians, the concept of capital account convertibility was relegated to books... until now!

Truly so, but getting a taste of the varied equities across the globe are just initial steps in the direction of practical capital account convertibility. On this account, even Reliance Mutual Fund is carrying on talks with the London fund house Schroders, Barclays & Royal Bank of Scotland to tie-up on a reciprocal basis. “We are in talks with various potential foreign partners,” said Emerge Reliance MF spokesperson, refraining to divulge further details.

The situation is similar with Tata AMC, which is in advanced talks with global fund houses and investment advisors in a similar attempt to offer global investment products; and not staying behind is UTI AMC, which has already gained the first mover’s advantage by entering into an ‘Investment Advisory Agreement’ with State Street Global Advisors Asia Limited (SSgA Asia) to launch the ‘Global Navigator Fund’. R. Raja, Senior Vice President, UTI AMC, claimed that through their fund, “an Indian investor gets an opportunity to access the global markets, specially equity markets, by investing in these funds. He can diversify across countries, thereby reducing the country risk of his investments.” Frankly, you can buy equity in Russia; gold in Brazil; debt in Africa; and of course, perhaps even islands in ‘The World’ Dubai (the photograph above) – a group of islands in Dubai shaped like the world, where celebrities like David Beckham, Rod Stewart, Michael Schumacher et al, are rumoured to have already purchased islands. But well, there’s just one hindering block... money!

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

Brand Talk!

Times are changing and radio jockeys are fast turning into brand ambassadors...

The story goes that Jaggu, a popular RJ of Radio One in Mumbai, complained of carrying more than a few extra pounds and food was on his mind, always. Saffola saw light at the end of the tunnel and together they launched Jaggu ‘Mission 10 kilo’. Jaggu lost 10 kgs in three months flat and the viewers were involved in the whole weight loss programme, so much that some of them even lost weight along with Jaggu. In another example of innovative promotions on FM radio, hair oil brand Parachute did something similar: one of Radio City’s RJ endorsed the brand on air and shared the results with the listeners.

Reviews, interviews, exclusive music rights, tickets distribution, et al, Bollywood was the first to innovate on the small radio set (a low investment and high returns medium) when it came to promoting itself and how! But, now even brands are trying every trick in the book to get themselves heard. Literally!

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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A new outsourcing wave has hit the telecom sector in India and all eyes are now on IBM

Meanwhile, Reliance Communications, the third largest telecom operator in the country, has short listed three frontrunners amongst the contenders, namely: IBM, Tsystems and EDS for this outsourcing deal. It would be similar to the Idea deal, wherein Reliance would sign a pact for 10 years, but the size of the deal in this case is expected to be about $1.5 billion.

However, if the entire cellular service provider industry ends up outsourcing to IBM, would cellular operators be able to get the cutting edge competitive advantage that they are desirous of achieving? After all, a common vendor would impart virtually similar services with negligible differentiation.

Be that as it may, bagging contract after contract, life is beginning to resemble a bed of roses for Big Blue in India. And if they walk away with the Reliance or Vodafone deal (or both), that would be the yummy icing on the cake!

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Source:- IIPM Editorial, 2006

An IIPM and Management Guru Prof.Arindam Chaudhuri's Initiative

Read more:-

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• THE INDIAN INSTITUTE OF PLANNING AND MANAGEMENT
• Pseudo-socialism is creeping back into the policy-making process ...
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The US, and not terrorists, lead crimes against press

Adding to this ignominy of US perfidy is the planned and well coordinated attack by an American tank on the 14th floor of the Baghdad-based Palestine hotel that housed several journalists who dared to report the anti-US side of the story. Even though the Americans were quick to issue a denial for the same (claiming the attack was in retaliation), the video footage provided by the French television channel, France 3, clearly showed that the American attack came without provocation. Journalists from the area have noted that the Palestine hotel’s 14th floor was attacked when the neighbourhood was quiet; in fact, the American tank took its own sweet time in targeting the hotel.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

Read more:-

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· IIPM : IIPM Links
· IIPM: More about IIPM
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The United States could learn a thing or two from Cuba when it comes to health care for citizens

The reason is simple. Most of the American citizens do not earn enough to shell out for the costly premiums of healthcare insurance. In most cases, the premiums for most of the insurance products have worked out to be more than the average annual income for majority of the Americans! Even for the fortunate ones who are insured, things aren’t so bright. Insurance companies, on some or the other pretext, have been denying insurance claims even after charging heft y premiums. The most obvious result of this greed and avarice-driven healthcare system has been the breathtaking profits for American healthcare companies. United Health Group & Well Point, the Fortune 500 companies in 2006, earned whopping profit increase in 2006 by 28% & 157%, respectively, over the previous year.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

As Anil Ambani and Hinduja lose out!

The deal is a critical move by Vodafone’s Global CEO Arun Sarin, who is under pressure amid slowing growth in Vodafone’s core European markets, to expand the business – while not overpaying for acquisitions. India is the world’s fastest-growing major mobile phone market and has even surpassed China in terms of new mobile subscribers’ subscription and Hutchison Essar has a market share of 16%. Bharti will buy 5.6% direct stake from Vodafone for $1.6 billion and Vodafone will not have any representation on Bharti’s board.

However, Vodafone will continue to hold 4.4% indirect stake in Bharti Airtel. Also, the customers of Vodafone will use Airtel’s network when in India and the company will also use Bharti’s NLD and ILD business. The European telecom major will give 50% inbound roaming traffic to Bharti for the coming three years.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative