Wednesday, October 31, 2012

Literacy shocks

Education needed in Lok Sabha

Education is a universal right, an invaluable lifelong asset; but the same does not apparently apply to those who are responsible for its spread across India. In the Lok Sabha, education appears to be inversely proportional to money and muscle power. There are 132 MPs who could not attain their first degree, but are better off than the degree holders, with average assets of Rs.20 million as against Rs.14 million for the latter. They even surpass graduates in their past endeavours – around 30% of the semi-educated MPs (undergraduates or even less than that) are involved in criminal cases as against 21% educated ones. (It is worth mentioning that the top 5 MPs with highest asset values do not have any criminal cases against them. N. Nageswara Rao from Khammam leads with an asset value of Rs.1.73 billion, followed by Navin Jindal from Kurukshetra with Rs.1.31 billion and L. Rajagopal from Vijaywada with Rs.1.22 billion).

The total assets of all MPs combined is valued at Rs.8.78 billion, excluding the value of cars they posses. The average net worth of our MPs is valued at Rs.16.4 million while in the non SC/ST category, it rises up to Rs.20 million.


Source : IIPM Editorial, 2012. An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
 
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Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
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IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
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Management Guru Arindam Chaudhuri
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IIPM Global Exposure
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Tuesday, October 30, 2012

Pakistan, distrust and India

First of all, it’s impossible to convince a Pakistani diplomat to officially offer a quote. Secondly, meeting a Pakistani diplomat is more interesting than can be explained in words. During our meeting with the diplomat at the Pakistan Embassy in India, when we asked him to state 5 issues Pakistan dislikes about India (we had two hours), he mentioned 10 in 15 minutes. And when we asked him to mention 5 things that Pakistan appreciates about India, he took an hour and 45 minutes! Some excerpts: “5 things we appreciate about India...”

PEOPLE TO PEOPLE CONTACT: The relationship between India and Pakistan is unique in itself. While there is tension at the top level, both the countries are enjoying good people-to-people contact. There is less hatred among common people, which is a good sign for the future relationship.

NEW LEADERSHIP: With Dr. Manmohan Singh, the soft, polite gentleman as the Prime Minister, and emergence of Congress leadership, Pakistan hoped that the new leadership would bring change in the already troubled and vulnerable Indo-Pak relationship. But although he has been elected twice, not much has been achieved. Still, we hope that he can bring some change.

ECONOMIC GROWTH: Not only Pakistan, it is in fact the entire world today that acknowledges the economic growth that India is witnessing. Such high economic growth would definitely help neighbours in the long run. At the same time, bilateral trade relationship has also seen a tectonic shift.

EXCHANGE OF DELEGATION: Another important area of improvement is in the area of exchange of high level delegates between both nations. A number of high level delegates visited Pakistan from India, and vice-versa too. This is undoubtedly helping to reshape the image of each other.

PEACE CONSTITUENCY: There have also been many peace constituencies created, organised and managed. Peace is the only thing both the countries are looking at; these constituencies have enough scope to bring development.

“And the 5 things we dislike...” TAKE-N-TAKE POLICY: Perhaps the biggest problem with India is its take-&-take policy. India thinks of itself as the Big Brother. It’s very important to change that attitude and to come forward with a give-&-take policy rather than a take-&-take one.

MEDIA: Indian media is also to be blamed for its very old tendency of over-hyping sensitive issues. Pinpointing someone regularly for every issue creates a very wrong impression in the minds of people. Media often hypothetically blames Pakistan for internal instability without any ground reality. Sometime, it also unnecessarily promotes hawkish elements to misdirect people.


Source : IIPM Editorial, 2012. An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
 
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
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Monday, October 29, 2012

“Govt. has promised to reimburse the royalty but we have got only sympathy”

A.K. Hazarika, Director (Onshore) ONGC in an exclusive interaction with B&E

B&E: ONGC currently has seven on shore fields in India. Can you give us the current standing of these fields across the country?

AKH: We have total of seven assets out of which six assets are producing both oil and gas and one is producing only gas. Currently all the six assets produce a total of about 8 million tones of oil and the total quantity of gas produced by all our assets are around 5.7-5.8 billion cubic meter of gas.

B&E: Cairn has made a major onshore discovery of the Barmer field in Rajasthan in which ONGC holds a 30% interest. Can you throw some light on the discovery and your collaboration with Cairn?

AKH: The region was earlier being explored by both Shell and ONGC. Unfortunately both of us failed to discover any fruitful fields in the region and Shell gave this field to Cairn Energy. Exploration is more of a gambling, who gets what no body knows. Cairn Energy was lucky enough to find hydrocarbon fields after drilling 14-15 wells. Now though discovery has been made by Cairn the catch is that the government has given those blocks on nomination basis but the licensee is ONGC. And as per the policy all the royalty for this blocks production has to be borne by the licensee. Today ONGC owns 30% of the blocks but it has to pay royalty of the rest 70% also. Thus ONGC has to give 100% royalty for being the licensee for the entire production. This is going to badly impact the financial standing and profitability of ONGC. Though the government has promised to reimburse the amount but we have got nothing but sympathy from the government so far. And as the production has already started and it is very high so our loss would also be very high. We are happy for the country but this has definitely put ONGC’s financials in trouble.


Source : IIPM Editorial, 2012.

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Sunday, October 28, 2012

V. Balakrishnan, CFO, Infosys Technologies believes today, cash is king and liquidity is heaven...

B&E: What have been the hits Infosys has taken in the past one year?

VB: In the last one year, there were two major challenges. The foremost was the currency volatility, as more than 90% of our revenues come from exports. We decided due to the high volatility, we could not take a long term exposure [on hedging], so we as a policy started keeping a focus of two quarters. We managed currency volatility much better this way. The other big challenge was cost cutting. We put tight controls on travel costs, on site non-billable resources, et al. It helped us retain margins. Third, when all this was happening, there was also huge political noise across US during elections. One of the arguments is the 50:50 rule, that 50% of hires must be local. So we hired 1000 people on site there.

B&E: But your clients have become risky in terms of paying up...

VB: We have a risk management strategy. We look at clients’ credit default spread; which allows us to understand their riskiness. Where it is high, we put a greater focus on accounts receivables. Yes, Nortel filed for bankruptcy; but it was a small client. None of our existing customers luckily have any current problems.


Source : IIPM Editorial, 2012.

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Friday, October 26, 2012

“Consumers trust maruti”

Shinzo Nakanishi, MD, Maruti Suzuki 

B&E: In your view, which all factors played a major role in empowering Maruti Suzuki to save the grace of its bottomline in the last fiscal when almost all the other automakers were on their knees?

SN: In times of a slowdown, people do not want to take any risk. They prefer purchasing brands on which they have full trust; and in the automotive market Maruti Suzuki comes on the top on those grounds. Moreover, we saw the slowdown coming in the urban areas of the country and we moved rather aggressively into the rural and the semi-urban market, which helped a lot to cope up with the slowdown.

B&E: Your expectations from the ‘new’ government?

SN: The previous government helped a lot to deal with the dull phase in the automotive market, be it the excise cut or petrol price going down; the government surely helped many players to sustain in the second half of 2008. If the government can again provide more help, everyone will be more than happy.


Source : IIPM Editorial, 2012.

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A space treatise

Russia becomes a space educator

America’s Neil Armstrong being the first man on moon notwithstanding, what has not got much publicity – albeit aided by the Russian style of shrouding everything in secrecy – has been Russian endeavours and achievements in space. These, incidentally, much before Neil Armstrong and Edwin Aldrin even put their feet on the moon. Typical to the western style of functioning, the disintegration of the Soviet Union brought a seat of the pants sense of jubilation among the Americans who assumed that this would draw curtains on Russian competition against NASA. However, soaring oil and minerals prices in the international market was all that Russia needed to resurrect itself; and once again to pose a challenge to its bete-noire, the NASA.

Russia’s exports of gas and minerals has not only rejuvenated a dying economy to be a trillion dollar GDP giant now, but has also given enough impetus to fund their federal space programs with a handsome 305 billion rubles. The trend has been continuing throughout this decade with the space budget doubling by 2009. And changing times however have taught Russia the art of marketing and minting money out of its space exercises.


Source : IIPM Editorial, 2012.

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Thursday, October 25, 2012

A lesson taught ...and learnt?

from the ceo to the office boy, from the business tycoon to the paan waala, from urban to rural; mobile handsets have travelled a great distance in india, and so has nokia. but thanks to the latest twists in the tale, nokia may need to adapt quite a bit very soon

The ‘Black & White’ era went into decline mode in India way back in 1982, when the first colour TV sets were introduced on the occasion of the Asiad Games (movies were already in colour, though; interestingly, India’s first indigenously produced colour film was Kishan Kanya; way back in 1937). But the ‘grey’ era continues to be strong till date. Not on your screens, my friend, but in markets. Ask the MNCs and they will recount, in horror, countless stories on how the grey market has, time and again, wreaked havoc with their plans.

And that was just the beginning of Nokia’s quagmires when it entered the Indian market in 1995. It was a market where mobile phones and services were a luxury item. With the prices that these models commanded, you could get a decent second hand Fiat car in those days!

There were a few key planks on which Nokia played its cards, and played them well. Firstly, they developed phones specifically for the Indian market, with durability to withstand Indian conditions and features like torch, vernacular SMS, news feeds, et al. Also, with other players like LG, Sony and Samsung being perceived as diversified consumer electronic companies, Nokia scored heavily on the fact that it had a core focus on mobile phones & developed strong brand equity.


Source : IIPM Editorial, 2012.

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Tuesday, October 23, 2012

Dalal Street mavens on the Budget.

You will find no number crunching, no jargon and no guru speak from so called Dalal Street mavens on the Budget. sutanu guru & pramod kumar bring you the real budget story – a story of the lead up to the 2014 Lok Sabha Elections.

Top Congress leaders did discuss issues like disinvestment, relaxation of foreign investment norms and other so called ‘reform’ oriented policies that so excite the corporate sector, Dalal Street and most of mainstream media in the country. But then it boiled down to answering that one key question: should Pranab Mukherjee present a budget for India or Bharat? Now, you and I know the verdict was unquestionably in favour of Bharat. In that sense, this budget makes a decisive break from past budgets in the sense that it is unabashedly about Bharat and does not even bother to offer token gestures to India. Says Congress general Secretary Digvijay Singh, “This budget was always going to be focused on the poor, the farmers and the bottom heap of the population.” Referring to the displeasure and disappointment shown by corporate India and Dalal Street, Singh adds, “Sure, some sections are justified in being unhappy because they have not got the benefits they were hoping for; but then the reality is that you cannot satisfy everybody.”

Absolutely. For decades, successive governments have paid lip service to the poor during budget time while doling out sops to the rich. This budget has finally broken through that vicious cycle of dishonesty, double speak and double standards. This dramatic transformation in the Congress has been going on for quite a while; only it was either largely missed or ignored or jeered by the media when Rahul Gandhi was trying to get across his message of connecting with the real India. Now, even brand gurus accept that the Congress strategy has worked wonders. Says, Santosh Desai, CEO of Future Brands, “The Congress has brought local leadership in their planning strategy over the last few years, which was not their forte in the past. Thus their focus is aam aadmi, but they deliver what they say. Thus, in branding, if you say and deliver, then the effect is clearly visible.” So Dalal Street might be crying. But Pranab Mukherjee has delivered what the Congress has been intending for a while – to completely convince the aam aadmi, the voter, that the government and the party are actually working for them. And don’t be mistaken in the belief that the Congress will use only the Union Budget to implement its strategy for 2014. Recall the exact words used by Pranab Mukherjee very early on his speech on July 6, “While we are determined to convert our words into deeds, members would appreciate that a single budget speech cannot solve all our problems, nor is the Union Budget the only instrument to do so.” So Finance Minister Pranab Mukherjee is not the only ace that the Congress will deal while leading up to 2014. There are many other powerful and transformational jokers in the pack.


Source : IIPM Editorial, 2012.

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Why Blame Unions for the AI Mess?

 As I read and watch the whole shindig about the free falling Air India, I just can’t help but go back to 1987 when I was a young Bombay based hack (Yes, it was called Bombay back then!). Rajiv Gandhi was still hugely popular and corporate India was delighted with his efforts to help India Inc. Rajiv Gandhi wanted to improve the performance of state run organizations and the most prominent initiatives were directed towards Doordarshan and Air India. A young, dynamic Rajan Jaitley who had a successful stint in ITC was made the MD of Air India and given the job of revamping the ailing (yes, it was ailing back then too!) carrier. A young Ratan Tata too was inducted to the Board as a sentimental gesture; after all, Air India was the brainchild of J.R.D Tata. Back then also, there were strong rumours of a rift in the Board and allegations of mismanagement. Yours truly had even written a story that-if my memory serves me right-started off by asking: “What was Ratan Tata doing when Rajan Jaitley was busy redesigning air hostess uniforms and changing the crockery at Air India?” Last known, Jaitley was operating out of London and Delhi, running a financial services consultancy Around that time, another young high flier called Harsh Vardhan was running the ambitious Vayudoot, the third state owned airline after Indian Airlines and Air India. Vayudoot claimed to service more than 100 destinations and I recall how everyone was going gaga over this wonder boy and his Vayudoot magic. Most hacks talked of the “close relations” Harsh Vardhan had with the sons of a certain Union Minister who then lived near Hotel Le Meridien. Of course, Vayudoot crashed into extinction very soon after that hype. Last known, Vardhan was a consultant for the private airline MDLR.



Why am I on this nostalgia trip and what has the past got to do with the present controversy that rages around Air India? Well, the point is, the more things change, the more they remain the same. It was natural then for those privileged enough to fly to curse the shoddy attitude and service of “unionized” employees of IA and AI (Only the brave dared to fly Vayudoot whose aircraft often had doors suddenly opening in mid-flight!). And now, the Civil Aviation Minister is peddling the same arguments blaming the “unionized” employees and the crisis facing commercial aviation for the disaster looming at AI. Most in the media seem to be lapping up this argument.


Source : IIPM Editorial, 2012.

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Sunday, October 21, 2012

Thank you, Dick!

Does Obama have it in him to accuse Bush and Cheney of genocide?

While the June 4, 2009, Cairo speech of Barack Obama came in for much praise within global audiences, what escaped attention was a supposedly inconsequential meeting of the former Vice President of United States, Richard Cheney, on June 1, 2009, with the press in Washington. While most of the meeting had Cheney spawning of forgettable anecdotes, what grabbed our attention was a series of statements, which started with the scandalous comment, “I do not believe and have never seen evidence to confirm that [Saddam] Hussein was involved in 9/11.”

As is fabled, Bush and Cheney had decided to go to war with Iraq post 9/11 accusing Iraq of being connected in some way with the 9/11 attacks and also of owning Weapons of Mass Destruction, which ergo gave Bush an excuse to preemptively strike Iraq – and specifically “Islamic terrorists” – under the US National Security Strategy. Not that any reason could be justification for causing such invasion, but the fact remains that while Bush’s Iraqi WMD spin had been proven horribly wrong some years back, the latest comments by Cheney seal the argumentative debate on the fact that all in all, the Bush-Cheney combine really had no justification to invade Iraq. And so we come to our Hugo Chavez spin, which is a question on why isn’t Obama’s administration now stepping up the policy ladder and accusing Bush and Cheney of deliberate genocide in Iraq? For records, the United Nations defines genocide as “Any of the [many] acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group, as such.”

Many across the world have been accused, convicted and executed by international courts for such genocidal acts. For appropriate example, as BBC reported on December 30, 2006, “Iraq’s former leader Saddam Hussein is hanged for crimes against humanity... after a year-long trial over the killings of 148 Shias from the town of Dujail in the 1980s.” If Saddam could be hanged for 148 deaths, allow us to examine the civilian deaths caused due to the Iraq war. Though the figures have been disputed, but even the disputed figures range from between 150,000 (Iraq Family Health Survey) to 650,000 (Lancet Survey) to more than 10,00,000 (Opinion Research Business Survey).


Source : IIPM Editorial, 2012.

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Saturday, October 20, 2012

A lost generation

Vietnam remains America’s biggest shame, before Iraq

After the Second World War, the United States and Soviet Union started an era of cold war between the two. The ‘Domino Theory’ made US to engage in a war game with Communist ideologue nations. As part of her wider strategy of containment, the US moved into Vietnam fighting with South Vietnam against the Communist North Vietnam. US President John F. Kennedy started supplying arms and advisors to South Vietnam in 1961 against the reunifying goal of North Vietnam. The fight escalated when North Vietnam launched an attack against the C. Turner Joy and the U.S.S. Maddox, two American ships, in 1964. US had superior warfare technology. Even then, the North Vietnamese forces were triumphant in fighting a prolonged, guerilla-style war. American forces faced a major debacle in the Tet Offensive in 1968, in which major South Vietnam cities were successfully targeted. On the other hand, the South Vietnamese continued to fight the Communists until the fall of Saigon on April 30, 1975. North Vietnam won the war and reunited South Vietnam.


Source : IIPM Editorial, 2012.

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Thursday, October 18, 2012

JEFFERY IMMELT: WORST EVER CEO OF GE

...atleast that name has GE written on it!

And if you thought that was plain numerical criticism, then contrast this: during the same time as this ‘magnanimous doling out of mercies’ is happening, GE has announced its first dividend cut since the Great Depression (that’s 71 long years back!) – a massive 70% cut to just 10 cents a share per quarter.

Bill Rothschild, who once worked GE’s strategy team also comments, “I believe that one of the reasons that GE is in the current situation is that it’s Go Big/Go Global strategies were wrong...” Sad, Immelt thought he was on the right track! One major issue for Immelt is the fact that he took over from a man who ensured that GE’s Mcap rose by more than 1100% during his tenure of 19 years; what a contrast! Surely, Welch’s ‘neutronic’ HR policies worked well for GE’s shareholders, and now it’s time for Immelt to put that rule back into action; question is: who’ll go first? Well, the world can wait for another century, and it will. GE too can, and it will, but only if Immelt puts his name on the ‘first-to-go list’. Dear Welch, your successor wasn’t wrong, his ‘ego’ was... Perhaps you never told him this, allow us to: You don’t have to be right all the time Jeff; you don’t. But you can also never forget your top priority – your shareholders? You did & you deserve the ‘Worst CEO of the century’ award for it.


Source : IIPM Editorial, 2012.

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The General to take retirement?

Aid seems to be going into a black hole, Chapter 11 the best option

Would we have thought in our wildest dreams that second best would be so bad? Well, GM, after all the battering it received from the Japanese, was still the world's number 2 car maker in 2008, with global sales of 8.36 million vehicles compared to Toyota's 8.97 million. Alas, the way they are going, even being number 1 would not have mattered.

So the D-day is June 1, 2009 – a date that'll adjudge the destiny of GM; a date that should see GM stakeholders cast their vote; a vote that will be memorable in the history of the US auto industry, even if painfully. After former GM Chairman & CEO Rick Wagoner’s exodus from the helm of the company, Prez Barack Obama's administration has given GM a deadline of June 1 – either to reach an agreement with bondholders to exchange $28 billion of debt into equity in GM, and with the United Automobile Workers Union; or file for bankruptcy. In case GM files for bankruptcy, a new comp any will be floated, which will include GM's healthy brands and manufacturing facilities, leaving behind the sick ones. Keeping in mind the bailout of $18.88 billion that GM received under the Bush administration after which it posted a mind boggling net loss of $52.8 billion for FY' 08, chances of getting another aid are very grim. “A lot depends on the survival plan, but filing for bankruptcy makes sense as of now,” asserts Christian Breitsprecher, Auto Expert, Sal Oppenheim. Obama has already rejected GM's plea for an additional $16 billion aid. However, if GM does file for bankruptcy, its bondholders may file a case against it, claiming that GM wrongfully pulled out $600 million from its Canadian subsidiary when it knew that insolvency was near.


Source : IIPM Editorial, 2012.

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Tuesday, October 16, 2012

Fighting doomsday prophecies with Earth Hour

“The event has helped create awareness, and as per the figures stated in some of the dailies, around 1000MW of energy has been saved. If that is true then it is indeed wondeful!” says Mahesh Chandra Mehta, an eminent environmentalist.

But not everyone is supportive of Earth Hour. Apparently, a group on Facebook is urging people to protest against this campaign as they believe that nothing would happen by turning the lights off for just one hour in an entire year. “I agree,” says Mr. Mehta “It should not be just a yearly thing but should be a regular feature. Probably, we could do it for 12 days a year and with this people will become more aware and educated.” We must remember basic things like turning the lights off when not required, turning the engine off at red lights, using a bucket instead of a shower while bathing and using public transport. But we need to do these continuously and not just continually. After all, it is completely up to us to decide the kind of world we will leave for our children.


Source : IIPM Editorial, 2012.

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UPA took the power seat in 2004

Not much has changed for India Inc. since the UPA took the power seat in 2004. Genuine business interests continued to suffer, analyses VIRAT BAHRI 

The aviation industry only highlights the glaring twin opportunities that the UPA government sorely missed throughout its tenure, when it comes to India Inc. – to make the industry more competitive through genuine support systems and to minimise the incidence of crony capitalism, that is the sordid saga of unfair state patronage of Indian business.

Take the telecom industry in particular. The laughable execution of license bidding processes under Telecom minister A. Raja was historic. Unitech, which bought the license for 13 circles for Rs.16.5 billion in the earlier part of 2008 and sold 60% of its stake to Telenor for a mammoth Rs.61.2 billion later in October, would remember Raja fondly for the years to come! Then, number portability was a crucial policy decision that was pending in the early years of this UPA regime. And it is pending still. Another issue that became controversial was the issuing of GSM licence to Anil Ambani’s RCom much before the other players. And 3G bidding? Well, the next government will worry about that now.

Read more......

Source : IIPM Editorial, 2012.

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