IIPM FACULTY: February 2008

Tuesday, February 26, 2008

Global good over evil!

The legend of India’s most ideal man, at least going by mythology, has quite

a cult following in southeast Asia too. In the six month period between May & October that includes the time when we celebrate Lord Ram’s homecoming to his kingdom Ayodhya after slaying demon king Ravana (Dussehra) in India, there are performed the famous Ramayana Ballets in the Pramabanan Temple compound in Java, Indonesia. A world heritage site, the compound houses temples dedicated to the Hindu trinity of Lord Vishnu, Shiva & Brahma and their respective carriers.
Magnificent architecture attracting the faithful and the curious, the temple’s most renowned event is the ‘Sendratari’ or the dance recitals of Ramayana. As 250 artists render an ornately executed tale

of a familiar epic from Indian mythology across a series of four episodes every time, the audience, comprising a composite mix from around the world, are held to their seats by a brilliant communion of theatrics, music, action & dance. For one, the scene where the messenger monkey Hanuman sets fire to Lanka after meeting Sita is one to collect dropped jaws! As characters named Ram Wijaya, Dewi Shinta, Rahwan & Hanoman take positions, the Indians, could only be reverentially elated…

For Complete I I P M Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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POTA? Funny!
The army’s fallen behind China
The Man of Steel gets his hands in Oil
HLL ‘Lever’ ages the power of Hindustan

Festive esprit de corps!
Festival times translate to joys of togetherness, spirit of tradition, and worth

of belonging. When celebrated far from culturally familiar environs, the ceremonial joie de vivre essentially remains true to form and fun, but for that added sense of heightened communal conformity & revelry! A look at some of our very own national calendar carnivals jamming the streets across the seas…

Khalsa’s Cana

dian canter Yellow mustard field replaced by cattle ranches, festivity on the river banks replaced by the elite community parks and continuous reading of the Sikh scriptures replaced by a few minutes visit to the Gurudwara doesn’t lessen the spirit of Baisakhi, in Canada. The Sikh community celebrates Baisakhi every year in all major parts of Canada with annual Baisakhi parades, let only the 50,000 Sikhs in Toronto, who hold the Toronto Baisakhi Parade, attended by the Mayors and city authorities as well. The festival marking the birth of the Sikh com-munity and the advent of the harvest season, though back home gathers a crowd of 80,000 dressed traditionally in colourful costumes & heavy jewellery in Surrey alone, making it the largest Baisakhi celebration in North America. The provision for free food all along the route of the parade, followed by cultural performances in a country far away from the origin of Khalsa, symbolises not only attachment with the roots but the host nation’s ethnic tolerance too!

For Complete I I P M Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Monday, February 25, 2008

Global good over evil!

The legend of India’s most ideal

man, at least going by mythology, has quite a cult following in southeast Asia too. In the six month period between May & October that includes the time when we celebrate Lord Ram’s homecoming to his kingdom Ayodhya after slaying demon king Ravana (Dussehra) in India, there are performed the famous Ramayana Ballets in the Pramabanan Temple compound in Java, Indonesia. A world heritage site, the compound houses temples dedicated to the Hindu trinity of Lord Vishnu, Shiva & Brahma and their respective carriers.
Magnificent architecture attracting the faithful and the curious, the temple’s most renowned event is the ‘Sendratari’ or the dance recitals of Ramayana. As 250 artists render an ornately executed tale of a familiar epic from Indian mythology across a series of four episodes every time, the audience, comprising a composite mix from around the world, are held to their seats by a brilliant communion of theatrics, music, action & dance. For one, the scene where the messenger monkey Hanuman sets fire to Lanka after meeting Sita is one to collect dropped jaws! As characters named Ram Wijaya, Dewi Shinta, Rahwan & Hanoman take positions, the Indians, could only be reverentially elated…

For Complete I I P M Article, Click on IIPM Article

Friday, February 22, 2008

Who’s saving?

Financial inclusion is the key...
‘Inclusive Growth’ is perhaps the much touted concept i

n the economic forums, and this can be amicably achieved through ‘financial inclusion.’ The good old days of funding the burgeoning need of credit by means of sale of surplus government bonds & securities (which banks held in excess of the minimum statutory requirements) may be over. Undoubtedly, this presents immense opportunities for the banks, but as statistic suggests, as of March 2007, the commercial banks holding in SLR had declined to 28%, as compared to 42.7% in April 2004; given this fact, banks must move beyond mere selling of securities & bonds. Amidst this scenario, financial inclusion provides a much more viable option. For the uninitiated, financial inclusion implies widening of the deposit base for the banks. The mechanism would necessarily bring in more and more financially excluded people under the gamut of banking services.

“No frill account is a welcome measure targeted at financial inclusion of such a huge base. Such measures are needed, as these will not only help the low income households but will also provide the banks with necessary resources to expand credit,” says Suresh Nanda, Regional CEO, ING Vysya Bank. The credit-GDP ratio, which as of March 2007 stood at 51% (the credit GDP ratio in March 2000 was 30%) apparently seems to be impressive; yet, on grounds of comparison, it remains much lower than major East Asian Economies. Consider the credit GDP ratio of Malaysia (144%), Singapore (71%), Thailand (111%) & China (136%) and it becomes very clear why much ground needs to be covered. Look at it from whichever perspective, the answer is financial inclusion...

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uance of Securities (FTIs) and perhaps much more later. Acting on the recommendations of Primary Market Advisory Committee, the market regulator Securities and Exchange Board of India (SEBI) has introduced FTIs, which will help the listed companies (satisfying certain criteria) to raise capital in a faster, yet cost effective manner. Companies listed on BSE or NSE for at least three years with more than Rs.100 billion of average free fl oat market capitalization can avail of the relaxed norm, go for public issues under FTI and feed its budding appetite for expansion. The companies complying with the requirements will also be eligible for “rationalized disclosures as well as simplified procedural requirements.” Without an iota of doubt, the mechanism adopted is a welcome sign as it will significantly cut down the follow-on issue time, open the capital market, put the equity float on a fast track and make the market very efficient for fund raising. Analysts are of the view that the move will primarily benefit the blue chip, top tiered companies.

Their views cannot be totally denied, as analysis show that a mere 30-35 companies listed on BSE & NSE have a free fl oat market capitalization of Rs.100 billion or more (unfortunately DLF, which qualifies on the m-cap criterion, fails on the listing tenure). Prasuna Venkatesh of P.N. Vijay Financial Services, says, “The Rs.10,000 crore cap is very stringent as it will enable only a few companies to avail of the route for fund raising. Companies having m-cap of more then Rs.10,000 crore are cash rich companies, there is nothing for the mid cap and small cap companies who ideally require the funds.” Clearly, the failure of OTC & BSE Indonext raises questions on success of FTIs. The failure of BSE Indonext primarily due to the stringent norms (entry norms, asset base, exclusively listed on regional stock exchanges et al) should act as a reminder for the market watchdog. Unless the regulator offers advantages for smaller companies, there are fears that FTIs will meet the same fate....

For Complete I I P M Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Saturday, February 16, 2008

Voyage to exhilaration!

With festivities on the anvil, the Indian tourism sector gets yet another reason to celebrate
Amit Gupta, a senior manager with a leading realty firm, says, “I have already applied for a week’s vacation at my company as I plan to celebrate this year’s Dussehra with my friends in Goa.” That’s quite an unusual concept during the festival season. Especially during the Diwali period, people take about three to four days breaks to be at home, which means religious rituals, lots of partying or just spending some quality time with their families. However, a new trend is emerging, especially among the young adults in metros, which Amit aptly represents. Rather than enjoying the festival in a traditional way, like staying at home and performing religious rituals, people want to spend their time at exotic locations with their friends, partners or even at times with their families. This new trend has really provided a much needed impetus to domestic tourism during the festive season.

The summer heat is almost over and

the monsoons, too, are slowly bidding adieu to India. It’s the peak holiday season once again with plenty of festivals lined up to refresh your mood, the most popular among them being Dussehra and the festival of lights, Diwali, which are celebrated all over India with much anticipation & passion. And for those who have been procrastinating a vacation for long, this is the right time to put on your traveling gear. Miss out on this time; you will have only yourself to blame. No doubt, the tourism industry in India sizzles all round the year, but it’s the festival season that adds a lot of spice to it. The season serves as a huge opportunity for both travellers and the industry players. “There is always a jump in the domestic tourist market during October- November and this year won’t be an exception either. We are expecting a hike of at least 30% in the tourism market during this season,” asserts Manveer Choudhary, Chairperson, Federation of Hotel & Restaurant Associations of India while speaking to B&E. Definitely a reason to smile for the various state tourism boards, tour operators and other industry players, who are going gung ho over it, and of course who can forget the tourists who are busy gearing up their back-packs to engage themselves in the celebrations. spokesperson from Hyatt Regency comments, “As part of our global strategy, we have started celebrating festivals for the past few years. This starts (especially in India) from Diwali and ends up with Christmas and we have special campaigns for our guests during the period... this time we are customising celebrations for each state keeping in mind the main festival of that particular state.” Indeed, in the service industry, the overall customer experience remains the most coveted and elusive goal for companies.

Festivities galore
Though t

he peak festival season has still not arrived, the regional festivals have already seen the introduction of new campaigns and special offers from the state tourism boards and tour operators. Kerala Tourism has just spent around Rs.12 million to make the most of the tourism opportunity that Onam, the biggest festival in the state, offers every year and is now preparing to further cash in on the upcoming series of festivals. “It’s too early to comment on what we have planned for the upcoming festival season but we would really be going hard to cash on the mounting opportunity,” P. A. Mohanan Nair, Deputy Director, Kerala Tourism shares with B&E. Arguably the hottest tourist destination in the country,Goa, is also bracing itself to give its patronsa fun-filled experience. “We have various events lined up in Goa to attract tourists in the upcoming festival season. We are organising a Chocolate Carnival during October-end that is expected to attract a large number of children followed by the Football Fest in November, Christmas and New Year’s celebration and then the Annual Wine Festival in January. We will also be doing something special for Diwali & Ganesh Chaturthi,” Armando Duarto, Manager – Travels, Goa Tourism Development Corporation shares with B&E. “We are branding Goa as a lifestyle destination largely because of the social climate of the place,” he further adds.

It’s not that just various state governments are going gung ho over the upcoming fes

tival season; even the central tourism ministry is leaving no space for any battering. Just after showcasing the ‘Spirit of India Everywhere’ at a festival in Moscow and tantalising London’s premier Regent Street with the Indian flavour, the ministry is all set to give Uncle Sam a big bite of India. Well, all this aims at enhancing & maintaining the competitiveness of India as a tourist destination, with a special focus on the festival season. According to a recent report by Research & Markets, a leading research firm, the tourist infl ux to India is expected to increase at a CAGR of 22.65% between 2007 & 2011. Moreover, with disposable income of an average Indian growing at a CAGR of 10.11% during 2001-2006, domestic tourism has been on a fast lane for quite some time. Destinations like Goa, Kerala, Jaipur, Ooty, Darjeeling & Mussoorie are increasingly becoming popular. According to a recent survey by World Travel & Tourism Council, “Leisure traveler preferences are evolving away from packaged tours to individually bundled options.” In order to respond to this increasingly dynamic customer base, travel companies need to have the ability to fl ex their capacity, flex their distribution and fl ex their pricing strategy accordingly. So, whether it’s a new trend led by travellers or state tourism boards, it’s a trend that should stay. So while the pie grows larger, the customer becomes even more difficult to convince. But one thing’s for sure, if you offer the right package, money may not be much of an issue for the increasingly affluent Indian!

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Tuesday, February 05, 2008

Maya jaal spreads far & wide!

Mayawati is sincerely working for creating a new caste combination
Mayawati’s dreams to occupy the Prime Minster’s chai

r in Delhi have got a ray of hope, when her party recently won the UP Assembly bypolls. Mayawati’s political outfit BSP was able to win the Swar Tanda (Rampur) and the Farrukhabad seats. That SP was able to retain its hold over Gunnar Assembly segments does not really worry Mayawati because she may have got the intuition that she is fast inching towards achieving her ultimate objective. Now that the queen of the Dalits has increased her seats tally to 211 in the 403-member UP Assembly, she is more confident of handling Delhi. Brimming with new found confidence, Mayawati is looking forward to mid-term Parliamentary elections. Political pundits are mooting the possibility of Mayawati with 100 plus Members of Parliament, becoming the next Prime Minster. And the lady on a mission is leaving no stone unturned to convert this into a reality.

Gone are the days when Dalit –Brahmin caste interests were considered irreconcilable. But Mayawati has defied history by casting the dye for an unbeatable caste combination. That the Brahmins are accepting to serve the Dalits is borne out by the fact that the Brahmins in Mayawati’s cabinet have shown no reluctance to touch Mayawati’s feet. “We will support any party, which shows us respect. The Brahmins had earlier supported the Congress & the BJP – if BSP treats us respectfully, we may render support to Mayawati also,” Pandit Mahesh Dutt Sharma, President Akhil Bhartiya Brahmin Mahashabha, told B&E How far this alliance travels, only time will tell. But one thing is certain, Mayawati’s stars are on the upswing & she is most likely to play a crucial role in central politics in the near future.

For Complete I I P M Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Soren blows siren..
...to inform one and all of his return
Jharkhand Mukti Morcha (J

MM) chief Shibu Soren’s release from prison after being absolved by High Court in the murder of his personal secretary, Shashinath Jha, has stirred state’s politics. Chief Minister Madhu Koda is the first independent MLA in the country to have served as the Chief Minister for 300 days. The impact of Soren’s release was clearly visible in JMM candidate Suman Mahato’s victory in the Jamshedpur parliamentary bypolls. Though Koda’s survival depends on support of 16 JMM legislators in a house of 80 MLAs, he isn’t perturbed. “I am heading a coalition of UPA constituents – JMM, RJD & Congress, besides some independents.

If a decision has to be taken on change of leadership, it has to be in consultation with Sonia Gandhi, Lalu Prasad Yadav and Shibu Soren”, Koda told B&E. Soren, so far, hasn’t given any indication of upsetting Koda’s applecart. “There is lot of scope for improvement. Government is not doing enough for people. But, I don’t intend to take over as CM. I will guide the state government from outside”, he told B&E. There is more reason for Koda to be confident for his survival as the main opposition BJP is in disarray with five MLAs having rebelled against the party. The loss in Jamshedpur parliamentary by-polls was caused by open campaign by husband-wife duo of Shailendra & Abha Mahato, both former BJP MPs, against party’s official nominee Dinesh Sarangi. Soren is not willing to reclaim his earlier job as Union Coal Minister either. With Jha’s relatives considering an appeal in the apex court, Soren intention to maintain a low profile seems to be a sensible decision. But that also means some more sunny days for Koda and more time to better his record.

For Complete I I P M Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative