Wednesday, February 24, 2010

Africa is just an ‘mtn’ away

Having achieved 100 million customers in the Indian market, Sunil Mittal is betting big on the MTN deal to create a Global Conglomerate, says Surbhi Chawla

The Indian telecom industry – reckoned as one of country’s burgeoning sunrise sector continues to leapfrog with 10-11 million subscribers being added every month all through the year gone by. And it comes as no surprise that Bharti Airtel continues to be the undisputed leader of the telecom pack by standing tall with 105.18 million subscribers as its share till July 2009 (according to COAI). While the world was battling with the economic turmoil with most companies witnessing massive erosions in their market capitalisation, Airtel has been seemingly untouched. Its market capitalisation in fact increased yoy to Rs.1,559 billion (as on August 18, 2009) compared to Rs.1,454.55 billion a year ago. Key growth indicators, revenues and net profits too have amplified by 36.77% and 26.40% in FY 2008-09.

However, given the tough economic conditions, achieving such figures has certainly been strenuous for Airtel, with Sunil Mittal demanding that the company be measured vis a vis the investments it has made (Rs. 700 million) in hard infrastructure rather than just cash flows (which are still in the negative) and profits. Add to it the fact that the landscape of the Indian telecom industry has transformed dramatically in the last two years making it increasingly competitive with a slew of new operators like Aircel coming in.

Even the existing operators like Vodafone Essar Ltd., Idea Cellular Ltd, et al, have started expanding the number of operated circles. This in the background of the ever existing and bloodying price war that all operators have played from time to time; a war that resulted in pressure on the Average Revenue Per User (ARPU). Airtel, for its bit to maintain the flow of subscribers, expanded its reach in the rural segment to tap the customers that lie at the metaphorical middle and bottom of the pyramid and ensured that it’s revenues were not impacted as it was backing on value added services (VAS).
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Source : IIPM Editorial, 2009


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

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Monday, February 22, 2010

“E&P still is a challenge”

B&E: A few years back, ONGC announced a much publicised strategic plan. Has that helped you handle the economic turmoil any better?

RS Sharma (RS): In 2001, we identified three strategic priorities, i.e., a) Improving our hydrocarbon reserve base; b) Enhancing recovery factor from existing fields; and c) Accessing equity oil from overseas... Time-bound action plans have been rolled out which are at various stages of implementation.

B&E: ONGC is currently contributing 77% of India’s crude oil production and 81% of India’s natural gas production. Do you expect this to continue in the longer term given the fact that ONGC is not integrated completely in the value chain?

RS: ONGC’s long-term strategy (Vision 2020) focuses on strengthening the core activities i.e., Exploration and production of oil & gas. As such, the strategic vision for improving reserve replacement ratio through new exploration finds remains the first priority. As I mentioned earlier, production enhancement, arresting decline in matured fields and expeditious development of discovered fields are the other priorities... Our endeavour would be to complete these projects on schedule and consolidate our efforts towards value-chain integration.

B&E: What will be ONGC’s most critical challenges in the coming years?

RS: Exploration and production of oil & gas remains as one of the most challenging businesses where inputs are deterministic and outputs are probabilistic. As far as ONGC is concerned, critical challenges remain to be to make major new discoveries and sustaining production level from the existing ageing fields. For effectively meeting these challenges, we have structured a framework to develop a suitable solution matrix for these identified blocks, if any. As of now, our solution matrix has mostly green dots (blocks with positive outcomes). However, our listed priorities continue to challenge us to still do better.

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Source : IIPM Editorial, 2009


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

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Saturday, February 20, 2010

HAS THE GOOSE LOST ITS GOLDEN EDGE?

Indian organised retail can become a great success, BUT PLAYERS NEED TO UNDERSTAND THE REAL RULES OF THE GAME

The debate rages on whether organised retail in India is the proverbial golden pot it was postulated to be, and there are many who are sceptical of the rainbow they chose to chase, for they have not even a pot of iron. Many are the travails of these prospectors over the recent few years, who claim to be unavoidable casualties of the out-of-the-blue economic downturn, which was ill-timed for the infantile industry.

So, are the hugely attractive figures of the country’s economic growth, the growing consuming class, the youthful demographics of urban markets, and the growing interest of global retailers enough to assure a rosy future for Indian retail? Are the corrections being made sufficient for the long-term future of the industry to sustain growth when the global competition finally arrives? And so is all well for the future of organised retail in India?

A careful and objective study of the state of affairs would reveal more than a few chinks in the armour. A dispassionate appraisal would go a long way in strengthening the cause of Indian retail, and inoculate the system from the impending attacks of the global majors, who will bring greater scale and experience with even deeper pockets.

There are broadly six corner stones of success for organised retail:

1. Merchandise Value-Quality Ration: In the name of value for money, many retailers have resorted to providing a quality of product that seems to hardly differentiate, and mostly matches what the unorganised players provide. The pressures on revenues and competition have hastened the quick decline towards “price” rather than “value”. Value defined by price, at the cost of quality or innovation or differentiation, has never shown to retain customers at any level of the pyramid. Where are the new products? Where are the unique products or brands? Quality of Packaging? New modes of presentation? International choice? Where are the better margins that customers are more than willing to pay because they get something better in the bargain?

2. Physical standards and ambience: Customer convenience of physical reach of product, hygiene of product presentation, ample space for physical and equipment movement, customised fixtures to promote different product types, appealing visual merchandising have all been victims (more often than not) of the need to improve space efficiencies and productivity. Is the customer becoming a casualty of figures here? Where are the hypotheses of letting the customer spend more time at the store? Let her sit for a while and relax in the store? Enable greater visibility to more categories? Offer her a service that brings a smile to her face? These seem to be forgotten for now, in the name of economics. Is it possible that customers will forget them soon when someone bold enough makes a different pitch? How often have even local grocers and the Everfine local super markets beat the bigger players, not because they are better, but because the bigger players are NOT better?! Is Quality of Offer not better? Why crowding SKUs in fixtures should sell more? Is organised retail just a larger grocer or garment store with electronic tills?

3. Customer service & orientation: When was the time you actually saw a sales executive in a store smile at you? Did you find the size that you wanted in the right place? Did someone guide you to the aisle you need, find the product and ask you what else you want? Did you have to hunt for the red-shirted staff? Could you find a facility when nature called? Was a sales-return done easily? How fast was the check-out? Did someone help you to your car? Did the manager meet you when you had a complaint? Did you feel wanted as a customer? While the answers may not be negative all the time, the question is how positive is the answer? Is there a mirror that seems to suggest that the customer is only like each one of us? Is it not worth the additional cost to make her visit again?

4. People development: How can customer service excel when people are not motivated to excel? How can an 18-year-old who earns in one month what a unit of a product costs understand the customer need? How can a customer relationship executive relate to a customer when she wears a poorly designed uniform that gives her no pride? What are the qualifications to enter retail? Why would you need to be qualified to serve with spoons, but not to demonstrate a product? When will we invest in creating a profession of Retail, whence millions will take pride in working for?
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Source : IIPM Editorial, 2009


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

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Friday, February 19, 2010

is no longer the superpower that determines the fates of many economies quite as it did in the past

In November, continuing claims declined by less than 200,000 and initial jobless claims fell to the lowest levels since September 2008. Figures for subsequent months are also being revised down. To counterbalance the incredible reduction in workforce, corporates were forced to become more efficient and streamlined. Cost cutting measures and reduction in expenses means that productivity rose to a 9.5% annual rate. The significance then, of a 3% growth in GDP in Q3 suddenly seems that much more significant. Should this continue, and all indications are that it will, corporates will have no choice but to employ people again. It may be bold to say, but I suggest we could almost see a reversal of employment trends before this year is out or early next year. After slashing seven million jobs in the last two years, companies may have little margin to cut further without threatening their capacity to ramp up production when the economy recovers. Expect this growth to come from the belly of America – its young and entrepreneurial. As per a study from Kauffman Foundation, companies less that five years old generated almost two-thirds of all new jobs in 2007, so no reason to believe the growth won’t come from this sector too.

Combine Buffet’s mantra of reduced unemployment as the key driver, with the fastest growing productivity in 40 years, an increase in personal spending and durable goods orders and rising home sales; and maybe there’s enough to indicate that our optimism in substantiated. The problem is though that the markets have already rallied and many think they may already be too frothy; after all, based on 2009 earnings, the S&P trades at 19x P/E – significantly higher than the 15x, which is the historical average. But basing valuations on 2009 data is not accurate; instead valuation must depend of future earnings and forward looking guidance. ‘Next year’s operating earnings for the S&P 500 companies are projected to average $74 a share, less than 15 times earnings, and early indications for 2011 are at $85 a share or 12.5x earnings.’ (Data from Jeremy Siegel’s research – he is a Professor of Finance at University of Pennsylvania and author of ‘Stocks for the Long Run’). Based on these measures stocks have room to run, especially when interest rates and inflation are factored in.


The US is still suffering deficits because of a reliance on Chinese imports and the low value of the yuan that keeps their exports so competitive. Though it seems that President Obama’s recent trip to China may have some impact on this situation, let’s remember that if the yuan does start a steady rise in 2010, it probably is because China is confident that the recovery in its own domestic economy is real and lasting and therefore can move away from export dependence. Either way, it’s a significant sign for the rest of the world.

There are a number of concerns going into 2010, each of which has the potential to escalate or combine to strangle the current rally. The removal of government stimulus packages, dollar devaluation, close to zero interest rates inspiring the ‘mother of all’ carry trades and unbridled inflation could all stifle the upward momentum. The uncertainty hanging over important geopolitical issues, such as nuclear development in Iran, the war in Afghanistan and threats of terrorism across the globe. These are all real and ominous threats that could derail our recovery. Across countries and sectors however, we continue to see pockets of inspiration as leading indicators suggest solid upturns. From the Indian GDP rate showing a 7.9% increase to the US weekly jobless claims now at a year low numbering below 500,000; from the rising house prices charting a returning strength in the property markets to AIG, Citi and Bank of America’s loan repayments pointing to stabilisation in the financial sector. There seems enough to be encouraged about- excited even! It is with tentative optimism then, that I hope to see green shoots growing in the cracks and feel that 2010 will be a year of great promise and recovery.
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Source : IIPM Editorial, 2009


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

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Wednesday, February 17, 2010

A tale of prosperity... in the vicinity of terror

NMDC has some of the most mineral rich mines of india, but due to their location, employees have to live far from inhabitation and in the dreaded naxal belt. that makes nmdc’s endeavour to provide them a good quality of life truly challenging. Deepak Ranjan Patra reports...

Moving from the hustle and bustle of city life to uncover the true essence of India is undoubtedly an experience I look forward to. This is the part of India that I have read and heard about, but haven’t really witnessed. But in the context of the National Mineral Development Corporation (NMDC) township, my excitement was tempered with a sense of fear. After all, my destination was a place that had gained an unenviable reputation as being a happy hunting ground for Maoists. I was going to a township situated less than an hour’s drive from the Naxal-infected Dantewada town of Chattisgarh. The journey was no cakewalk either, from Delhi to Raipur (1,400 km) by train and then another 400 km by bus through the forests and hilly roads of Chattisgarh. The exhaustion finally got the better of me and I slept through the bus journey. When I got up, at my destination, I was in for a pleasant surprise. We were in the middle of a nicely built and well maintained precinct. One has to literally see it to believe that such a place exists inside the forests of Dantewada district.

Our first stop was the Kirandul Complex, a part of NMDC’s twin township at Bailadila Iron Ore Mines (BIOM) situated just 10 km away from the other township Bacheli (also owned by NMDC). They may seem like two small townships housing about 30,000 people, but their contribution to NMDC is a lot larger. Combined together, the mines (under Bacheli and Kirandul) with ore deposits woven around the hills and forests of the Bastar area (once known as Dandakaranya) produce almost 22 million tonnes of iron ore every year; 75% of the company’s annual iron ore mining. BIOM also has one of the largest reserves under the possession of NMDC, with nearly 1200 MT of high grade iron ore distributed over 14 deposits (5 are active at present and the company is in process to start a few more). However, not only has BIOM contributed to NMDC’s swelling pockets, but the range, called ‘The hump of an Ox’ in the local dialect, has also got a fair share in return.
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Source : IIPM Editorial, 2009


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

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Tuesday, February 16, 2010

Not just a fat Kat!

Sallu Bhai’s latest muse is rather amusing. Zarine Khan claims that she can gain and lose weight very fast….and that’s what she did for “Veer”. Having dropped a whopping 40-45 kilos, the once 100kg gal still can’t muster the guts to slip into a bikini and still constantly reminds herself that she is fat! Famously known as a Katrina look-alike, she says that she is flattered to learn that she resembles her. Most ladies who debut opposite Salman have had terrible luck in their film careers; let’s hope Zarine finally beats the jinx and we see a lot more of her in the future!

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Source : IIPM Editorial, 2009


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

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Monday, February 15, 2010

Farmers oppose industry

Officials forced to shelve plans to acquire farmlands

The Narendra Modi government’s plan in Gujarat to acquire some 8,000 hectare farm of seven villages from Sanand Taluka to establish industrial estates has hit a roadblock. Farmers in this region are opposing the officials’ move, spearheading a movement against the land acquisition.

In protest they withdrew their children from the government-run schools. Besides, they opposed polio vaccination programme in their villages. Last year in Mahuva (in Saurashtra) some farmers had opposed the government move to acquire lands for Nirma industrial estate, but all in vain. However, this time the agitation had such an impact on the state government that its officials shelved the project for the time being. The farmers are thrilled with their success. Some villagers are of the opinion that this would encourage farmers in other parts of the state to stop the government from acquiring their agriculture lands.

Unhappy with the development, senior government officials argue that the purpose is to industrialise the state. Citing statistics they say that 50 per cent of farmers’ contribution to state’s development is only 16 per cent whereas 16 per cent industries contribute 32 per cent. But the farmers say that acquisition of farm lands for industrial purpose should be stopped. Dilip Rathod, a farmer from Hirapur village of Sanand says: “I have 70 acres agriculture land and most of the farmers cultivate wheat and rice. We are forced to get labours from Chhota Udaypur and Panchmahal. The government wants to acquire my land for establishing industry. But I am resisting it. After my land is gone I will lose my livelihood.” Some 22,000 farmers from Hirapur, Kunwar, Gokulpur, Rasilapur, Bod, Siawada and Charal are facing the same problem.

They have decided not to surrender their lands to the government. Even after Sanand collector Harit Shukla assured them that their lands would not be acquired forcefully the farmers are apprehensive. Social worker Bharatsingh Zala says: “Seventy per cent of state’s industrial development areas are closed. Industrial areas like Naroda and Vatva are deserted. The locals have no jobs. Instead of fixing up this problem the government is planning another industrial hub in the region. If it goes ahead with its plan then many locals will be unemployed.” The locals suspect the government’s move to acquire the land in Mahuva. Human rights activist Jignesh Mevani says: “In fact the government has built RCC barriers to prevent salination of the fertile land. The purpose is to boost agriculture in the state. Shockingly, the government allotted these fertile lands to Nirma Industrial House in Kalsar, Naip, Vangar, Pathiyarka, Gunjarda, Dodia, Madhiya, Dhudheri and Dudhara villages without discussing the issue with the farmers.”

However, the government says that Nirma Plant will have not impact on farmers and the fertile land. Above all, officials have claimed that chances are high that the government may go ahead with its visionary plan to develop Sanand-Rajkot corridor.

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Source : IIPM Editorial, 2009


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

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Friday, February 12, 2010

Pushed to the wall by corrupt officials and land sharks

Banjara then received a loan recovery notice from the block development officer that asked him to deposit Rs 12,384. He was shocked out of his wits. Unable to pay, he had to spend 14 days in police custody. The illiterate Banjara thought the jail term meant automatic waiver. He did not receive another recovery notice, so he beliecved the worst was over.

Three years later, some people arrived without warning to take possession of his land. He was told that as he had failed to repay the loan and interest, the government had auctioned his land to one Harbir Singh for a paltry sum of Rs 90,000. This was on July 19, 1994.

A rattled Banjara asked Bharatiya Kisan Union (BKU) for help. Prompt action was initiated. Some locals chased away the men who had come to grab his land. Since then, the BKU and locals have kept the goons at bay. Banjara clings on to his land but by the proverbial whisker.

Desh Pal Singh, state vice president of BKU, says, “In such cases the government first pastes a notice on the house of the defaulter and announces the auction in the village. It also places a corrigendum in newspapers. But none of this was done. The land was auctioned for Rs 90,000 whereas the market rate at that time was Rs 15 lakh. The present value of the land is Rs 50 lakh.”

Banjara has tried his best to get the anomalies corrected. In the last 10 years, he has protested umpteen times in front of several ADMs and DMs. On January 4, 2009, the then Commissioner RP Shukla ordered the city magistrate Amarnath Upadhyay to investigate the matter. The city magistrate found that block level officers had flouted norms while auctioning the land. The copy of the investigation report is with TSI.

The report states, "The circle rate of the land was Rs 1, 60,080 and it was sold to repay an outstanding amount of Rs 12,384.50. The decision to sell of such a huge piece of land to repay such a paltry sum creates suspicion. The amount could have been recovered by just selling off the crop that was standing on the land... it was also found out that the land was auctioned just on paper.”

The Commissioner asked the farmer to repay the outstanding loan within one month and reclaim the land. “The land should have been returned without any fine. Instead, the government asked Banjara to pay Rs 60,000 though his loan had been waived,” says Rakesh Tikait, spokesperson of BKU.
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Source : IIPM Editorial, 2009


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

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Thursday, February 11, 2010

Astonishing network of interests

The tables have turned dramatically since then and Pachauri stands exposed. Critics point out that he is only an economist and industrial engineer. They allege that he is not a climate scientist as he would have the world believe. They wonder why he was in the first place made the IPCC chairman in 2002 and entrusted with the job of creating consensus on one of the most critical issues facing the planet, global warming.

One of the most scathing attacks on Pachauri has come from Lord Christopher Monckton, policy adviser to the former British Prime Minister Margaret Thatcher. Even if global warming has assumed unprecedented proportions, he says in his column published in TSI, “the hawkers and peddlers of the extremist notion that “global warming” is or may become a global crisis mention melting ice-caps, roaring hurricanes, rising sea levels, searing droughts and other extreme weather events as though such things had never occurred before and must, therefore, be blamed on humankind.”

The doomsday prediction dates back to 1999, when a JNU-based glaciologist, Syed Husnain, published a report on the melting of Himalayan glaciers. A New Scientist magazine author Murarilal interviewed him and wrote that the Himalayan glaciers would melt by 2035. This claim was later incorporated in IPCC's report.

Dr Husnain denies that the date emanated from his report. He explains, “I hadn’t mentioned a fixed date like 2035… It was entirely Murarilal’s assumption. I had just said if the present rate of the melting of glaciers continues, they might melt completely in the next 39-40 years.”

Asked why, during his stint as Senior Fellow in TERI, he did not bring this fact to the attention of Dr Pachauri, he says, “Pachauri was a very busy man and we had very few personal interactions.”

This is not the first time that IPCC has fudged figures. Anil Kumar Singh, eminent energy scientist, says, “IPCC exaggerated the figures of biomass pollution. It is certainly a concern, but the rate of increase in pollution estimated by IPCC was not true.”

The over-reaching IPCC researchers have done great disservice to the cause of environmental conservation. Owing to the multiple goof-ups in the IPCC’s 4th AR, climate change sceptics have found a handy stick to beat the climate change warriors with. Many can now be persuaded to believe that the situation isn’t really as bad as it is being made out to be.

The second argument is that climate models based on software devices are simply too unreliable, as are temperature records. Leaked e-mails from the University of East Anglia appeared to show manipulation of temperature data by the IPCC, raising serious questions about the validity of the UN panel’s claims.

A cornered Pachauri has been brushing aside all allegations but without much conviction. “I have made my stand very clear. TERI is a not-for-profit organisation working for the welfare of society and its revenues cover costs and provide no private benefit to any party," he told TSI. But

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Source : IIPM Editorial, 2009


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

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Wednesday, February 10, 2010

Rotten education system of the country

That also enabled Sibal to sack R. A Yadav, whose tenure at the helm of AICTE marked the largest number of allegations of wrong doing and corruption. Despite being a handpicked nominee of Arjun Singh to head AICTE, Yadav could not resist the reformist zeal of Sibal. When Yadav was shown the door by Sibal and many top officials of AICTE arrested for corruption, analysts had already started speculating on when the Sibal axe would fall on irregularities at UGC. It has now fallen, and with a vengeance.

When it comes to higher education, both AICTE and the UGC have been persistently singled out by educationists to be the biggest hurdles in reforming the system. Operating a la ministries and departments during the infamous license-permit Raj, officials at both had used their powers to make tons of money from unscrupulous operators and harass those who refused to bribe them. Things hade become so bad that ‘agents’ used to openly approach institutes with offers to ‘fix’ things for them at pre-determined rates. What Sibal has begun to do with the AICTE and the UGC is only the beginning. The path from here will end when both are dismantled completely and replaced by a single regulatory body for higher education that functions transparently and with clear rules and norms.

Meanwhile, there have been many reports of students and parents being deeply agitated over the move to doom the deemed universities. In many cases, promoters of these outfits seem to have encouraged students to stage violent protests saying their futures are at stake. But as the Union HRD minister pointed out, all students of these deemed universities will get a degree. In any case, a surgery of this type was long overdue. Says well known educationist of Tamil Nadu Vasanthi Devi, “ Just to escape the clutches of these universities and exploit the students, numerous deemed universities emerged. All these unqualified universities should be closed and there is no need to have deemed universities”.

But as mentioned earlier, Kapil Sibal still has a long way to go after these auspicious beginnings. He has faced severe resistance while announcing his plans to revamp school education and abolish Board exams for students of class Xth and eventually even class X11th. He has a tough job because the HRD ministers in the last two decades have been mostly Arjun Singh or the BJP leader Murli Manohar Joshi. The practices they encouraged will take a long time to undo.

Yet, well begun is half done. India desperately needs to completely revamp its education system. At the moment, Kapil Sibal seems to be the best man to do it.

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Source : IIPM Editorial, 2009


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

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Friday, February 05, 2010

Let the party begin...

With a rugged landscape, historical windmills, Cycladic architecture, powder-soft beaches and crystal clear waters – Mykonos is a picture of pure bliss tucked amidst the islands of Tinos, Syros, Paros and Naxos. Renowned for its intense nightlife and beach bars, Mykonos is paradise for bar-hoppers and party lovers. The town also offers a treasure trove of natural beauty, rich history, cosmopolitan character and plenty of local colour... no wonder then that the streets are brimming with people all year round.

Get that holiday tan as you spend a lazy afternoon at the quaint beaches of Mykonos; or experience the adrenalin rush while you indulge in water sports or enjoy an evening with friends at one of the stylish beach pubs. Chora, the largest and the most popular town in Mykonos, is a delight for visitors. Little white houses with flowers, blue windows and doors, ancient churches, pigeon keepers, chimneys, hand-painted streets et al, make it a picture-postcard capital. The windmills, a trademark of the island, stand on a hill and can be seen from any point in the Chora village.

In Mykonos, do visit the Church of Paraportiani, a cluster of five churches built in a compact complex. One of the most photographed buildings, this majestic Byzantine church overlooks the sea. Enjoy a walk down the narrow labyrinth-like streets, taking in every detail of the impeccable architecture or visit the Enoplon Dynameon, one of the busiest streets of Mykonos that has the Archaeological museum. The little village, Ano Mera, is worth a visit too. Small, pretty and quiet, visit the monastery and the little church museum which was built in the 15th century. Hop on to a ferry for a day trip to the sacred island of Delos, considered to be the holiest island in ancient Greece.

For those who like to live it up at night, the streets of Mykonos are literally packed with bars and clubs, permissive to all tastes, preferences and moods. Spend an evening at the Scandinavian Bar, rated as one the best in the world, or sip on a drink sitting on the steps outside at Uno – one of the oldest bars in Chora. With options galore, you are sure to be spoilt for choice.

Mykonos has all the ingredients for a perfect holiday – a picturesque landscape, golden sand, crystal water, rich history and an exhilarating night life... but most of all, it holds the promise of an unforgettable experience...
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Source : IIPM Editorial, 2009


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

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Tuesday, February 02, 2010

The Jury!

The jury panel comprised some of india’s most respected and most intellectual stalwarts with experience in various sectors across the globe

Naresh Gupta, MD, Adobe India

Naresh Gupta, a well known face in the world of technology, currently heads the India headquarters of global technology giant Adobe as its Managing Director. He established Adobe’s Noida campus way back in 1997. He also oversaw Adobe’s 2005 acquisition of Macromedia, Inc in the country, which resulted in the setting up of Adobe India’s second campus in Bangalore. Under Gupta’s leadership, Adobe India has become the largest R&D center for the multinational outside US, responsible for many new technology patent filings.

Globally, Gupta serves as the Senior Vice-President of the Print and Classic Publishing Business Unit, thereby overseeing product marketing and development functions for Adobe’s print, web publishing and e-learning tools. His journey at Adobe began with his tenure as a computer scientist in Adobe’s corporate research group, a process which alone led to five technology patents filed by Adobe, resulting in key features of many Adobe products. Before he joined Adobe, he was the principal scientist and director of the applied artificial intelligence group at LNK Corp., a company funded by the U.S. Department of Defense.

Recognised as an advocate of a knowledge society, Gupta is a B. Tech in Computer Science from the Indian Institute of Technology, Kanpur, where he won the Gold Medal for his outstanding academic performance and holds MS and PhD degrees in computer science from the University of Maryland.

Dr. Sanjeev P. Sahni, Head-Strategic HR, Group HR, Jindal Steel & Power Ltd.

Dr. Sanjeev P. Sahni is the Head-Strategic HR, Group HR, Jindal Steel and Power Ltd. (JSPL). Dr. Sahni has completed his Masters in Psychology with specialisation in Industrial Psychology, after which he did his doctorate in Organisational Behaviour from Panjab University, and post-doctorate from University of Illinois, Chicago. He has also been conferred fellowship in sports medicine and sports psychology by the only two recognised institutions in these fields in India. Working in JSPL’s corporate office, he is responsible for all aspects of HR, from talent management, development and retention, to education and learning, for India’s fastest growing steel company. Dr. Sahni has been instrumental in leading and steering the HR for the company’s growth phase, and setting up Performance Enhancement Centres at various locations across India. Also a noted academician, Dr. Sahni is member, life member, executive member and Secretary for various national and international academic societies, and has published papers in numerous journals. He is also a favourite for delivering keynote and guest lectures at institutions in India and abroad.

Girish G. Vaidya, Senior Vice President and Head of the Infosys Leadership Institute

Girish G. Vaidya, Senior Vice President and Head of the Infosys Leadership Institute is a Civil Engineering graduate from the University of Bombay and then did his Post Graduate Diploma in Management from IIM Calcutta in 1975. He joined ANZ Grindlays Bank and worked there for almost 24 years in various capacities in different unit in India and abroad. He was head of Technology for South Asia for the bank. He joined Infosys as Senior Vice President and head of Banking Business Unit (now called Finacle Business Unit) in January 1999.
For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009


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

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Monday, February 01, 2010

Global slowdown coupled with terror attacks & swine flue

So, is it sheer business acumen on the part of travel agencies who resorted to various innovative methods to promote their offerings to the consumers (For instance, Lifestyle Holidays, a travel agency promoted by brokerage firm Bulls & Bears Finance Ltd., gave an option of buying shares free of cost to travellers in return for packages)? Or is it the market’s pendulum that is helping these agencies get back on the fast track? Well, there are a number of reasons to it. Firstly, during the slowdown, the inbound traffic and domestic tourism in India grew by 30-40% as compared to the outbound traffic. The main reason behind this spur was the aggressive push by the state tourism boards across the country coupled with a sharp fall in tariffs of five-star hotels by 25-40%. An industry expert (who did not wish to be quoted) states, “Travel agencies in India have been able to see a recovery of 10-12% after the slowdown and this is because of the drift in domestic tourism, which has the potential to grow by as much as 500% in the near future with an estimated 561 million domestic tourists travelling in 2009.”

Another factor that has taken some burden off their backs in the midst of the turmoil is E-ticketing. This effective online interface for the travel agencies has certainly highlighted the cost effectiveness of the technology usage in these hard times. In the last two months, more than 50% of the total travellers in India received their ticket by email or fax against 28% customers who still wish to go the conventional way (of doorstep delivery by the agent).

Further, the recent ruling by the Directorate General of Civil Aviation (DGCA), wherein the 24,000 travel agents present in India will be entitled to 3% commission instead of the fee-based model proposed by foreign airlines last year made the travel agencies head faster towards sustainability. For the uninitiated, 14 foreign airlines, including Lufthansa, British Airways, Qatar Airlines, et al, had resorted to a zero-commission model last November and introduced a transaction fee-based model wherein the traveller was made to pay a fee of Rs.250-Rs.5,000 per ticket to the agent subjected to the negotiations of the two parties. “To get away with this new proposal we even boycotted Singapore Airlines and surrendered their ticket stocks. But now since the ruling is in our favour, we expect normalcy to be restored in our operations”, says Datta (who is also an active member of Travel Agents Association of India).
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Source : IIPM Editorial, 2009


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

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