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Friday, September 29, 2006
IIM-B to discuss Moily panel report
A day after the Oversight Committee, headed by former Karnataka Chief Minister M Veerappa Moily, submitted its report on implementation of quota for OBCs, the Indian Institute of Management, Bangalore (IIM-B), has decided to take it up for discussion at the next board of governors’ meeting.
“I cannot comment at this juncture since the report has not reached us,” IIM-B Director Prakash G Apte says. When asked if the report will be discussed in the board of governors’ meeting, he said, “Yes, it has to be taken up. I am yet to study the recommendations”.
The next board meeting of the IIM-B is scheduled sometime in October. During consultative meetings with the expert group, constituted by the Oversight Committee, the IIM-B had expressed its inability to implement the reservation policy at one go. It is in favour of a split campus to implement the quota over a period of three years.
The IIM-B had said it required 15 acres of land for a new campus. The cost of expansion will be around Rs 50 crore, excluding the cost of land. Besides, the IIMB is facing faculty shortage.
“I cannot comment at this juncture since the report has not reached us,” IIM-B Director Prakash G Apte says. When asked if the report will be discussed in the board of governors’ meeting, he said, “Yes, it has to be taken up. I am yet to study the recommendations”.
The next board meeting of the IIM-B is scheduled sometime in October. During consultative meetings with the expert group, constituted by the Oversight Committee, the IIM-B had expressed its inability to implement the reservation policy at one go. It is in favour of a split campus to implement the quota over a period of three years.
The IIM-B had said it required 15 acres of land for a new campus. The cost of expansion will be around Rs 50 crore, excluding the cost of land. Besides, the IIMB is facing faculty shortage.
IIM-A to expand 54% in three years
After months of speculation, the Indian Institute of Management, Ahmedabad (IIM-A), has decided to comply with the recommendations of the Veerappa Moily report on 54 per cent expansion in a period of three years.
Earlier, the institution had said it needed at least four years to implement the expansion plan. However, at a meeting of the Board of Governors chaired by Narayan Murthy, a new policy of quota expansion was proposed and accepted unanimously.
Under the policy, the institution will increase seats by 10 per cent in the 2007-2008 academic year, by 18 per cent in 2008-09, and by 26 per cent till 2009-10, making it a cumulative hike of 54 per cent.
It has decided to utilise the land allotted for a sport complex on the new campus for constructing student hostels and residences for faculty and administration members.
“The new policy drafted by us will ensure that the expansion is done in a systematic and phased manner and in a way that does not compromise with the quality of education,” said Murthy.
Bakul Dholakia, director of IIM-A, talking about the financial framework for the proposed expansion, said, “The institute will be placing a proposal before the Centre for a one-time capital grant of Rs 83-84 crore. Our corpus had taken a hit with the construction of the new campus, though, apart from this grant, we hope to maintain our self-sufficient status.”
The meeting also took up the issue of the faculty shortage ratio which currently stands at 1: 8.5, with 20 per cent of the teaching responsibility borne by visiting faculty. The board would be meeting again in mid-December to discuss ways and means to increase faculty strength, added Dholakia.
The board has chosen IIM-A alumnus M S Banga to chair its International Advisory Council, which will strategise global alliances and networking for the institution. Dholakia also announced the creation of a gender resource centre for research on gender issues.
Earlier, the institution had said it needed at least four years to implement the expansion plan. However, at a meeting of the Board of Governors chaired by Narayan Murthy, a new policy of quota expansion was proposed and accepted unanimously.
Under the policy, the institution will increase seats by 10 per cent in the 2007-2008 academic year, by 18 per cent in 2008-09, and by 26 per cent till 2009-10, making it a cumulative hike of 54 per cent.
It has decided to utilise the land allotted for a sport complex on the new campus for constructing student hostels and residences for faculty and administration members.
“The new policy drafted by us will ensure that the expansion is done in a systematic and phased manner and in a way that does not compromise with the quality of education,” said Murthy.
Bakul Dholakia, director of IIM-A, talking about the financial framework for the proposed expansion, said, “The institute will be placing a proposal before the Centre for a one-time capital grant of Rs 83-84 crore. Our corpus had taken a hit with the construction of the new campus, though, apart from this grant, we hope to maintain our self-sufficient status.”
The meeting also took up the issue of the faculty shortage ratio which currently stands at 1: 8.5, with 20 per cent of the teaching responsibility borne by visiting faculty. The board would be meeting again in mid-December to discuss ways and means to increase faculty strength, added Dholakia.
The board has chosen IIM-A alumnus M S Banga to chair its International Advisory Council, which will strategise global alliances and networking for the institution. Dholakia also announced the creation of a gender resource centre for research on gender issues.
Thursday, September 28, 2006
India has a great place in globalsiation : Lord Paul
Asking Indian entrepreneurs not to fear competition, Caparo Group Chairman Lord Swraj Paul has said that the country has a "great place" in the globalisation process provided it allowed the reforms process to move faster.
"India has a great place in globalsiation. as the country has the cpacity and the ability and it should not not fear about the globalisation proces," he said.
He said this place could be achieved provided India allowed the reform process to move at a faster pace.
"Don't fear competition. Competition will never destroy anyone, but it will improve everybody. It is about survival of the fittest," Lord Paul said while delivering a lecture On "India, Inc. On Global Stage organised by Confederation of Indian Industry (CII) last night.
Besides Madhya Pradesh Industry Minister Babulal Gaur and Caparo's Indian head Angad Paul, leading industrialists of of the state were present on the occasion
Lord Paul lauded the Indian success in IT industry saying that he was proud of India's place in the world in this sector.
On India's potential, he said that 550 India companies have invested in Britain alone and the country was the third largest investor in the UK.
Lord Paul said that India has an opportunity to excel because of its huge manpower, which the other countries are lacking in and has a large number of enterpreneurs as compared to other nation.
Lord Paul said India should also focus on improving health and education sectors and should not leave them at the mercy of market forces as 30 per cent children had no access to education.
Industry Minister Gaur said investments worth Rs 100,000 crore was in the pipeline in the state in the area of petroleum refinery at Bina, auto testing track at Pithampur, an IT design park in Jabalpur, a textile hub at Budhni and a coal-based power plant in Seedhi district.
He further said that in order to woo industrialists, the state has introduced the concept of "one table" instead of single window system to facilitate smooth investment.
Later, entertaining questions from the participants, Lord Paul said that young enterpreneurs must have the dedication as there were no short-cuts to success.
Replying to a question, he said "integrity is an important factor. the moment integrity goes, everything goes away".
"India has a great place in globalsiation. as the country has the cpacity and the ability and it should not not fear about the globalisation proces," he said.
He said this place could be achieved provided India allowed the reform process to move at a faster pace.
"Don't fear competition. Competition will never destroy anyone, but it will improve everybody. It is about survival of the fittest," Lord Paul said while delivering a lecture On "India, Inc. On Global Stage organised by Confederation of Indian Industry (CII) last night.
Besides Madhya Pradesh Industry Minister Babulal Gaur and Caparo's Indian head Angad Paul, leading industrialists of of the state were present on the occasion
Lord Paul lauded the Indian success in IT industry saying that he was proud of India's place in the world in this sector.
On India's potential, he said that 550 India companies have invested in Britain alone and the country was the third largest investor in the UK.
Lord Paul said that India has an opportunity to excel because of its huge manpower, which the other countries are lacking in and has a large number of enterpreneurs as compared to other nation.
Lord Paul said India should also focus on improving health and education sectors and should not leave them at the mercy of market forces as 30 per cent children had no access to education.
Industry Minister Gaur said investments worth Rs 100,000 crore was in the pipeline in the state in the area of petroleum refinery at Bina, auto testing track at Pithampur, an IT design park in Jabalpur, a textile hub at Budhni and a coal-based power plant in Seedhi district.
He further said that in order to woo industrialists, the state has introduced the concept of "one table" instead of single window system to facilitate smooth investment.
Later, entertaining questions from the participants, Lord Paul said that young enterpreneurs must have the dedication as there were no short-cuts to success.
Replying to a question, he said "integrity is an important factor. the moment integrity goes, everything goes away".
McKinsey is most preferred B-school recruiter in '06
In the last one year, a lot seems to have changed in the top 20 B-schools in India. McKinsey has become the most preferred recruiter on the campus. In fact, consultancy firms dominate the list - barring Lehman Brothers and TCS, three out of top five are consultancy firms. Tata Group’s TAS has for the first time figured in the top five list, a sharp jump from No 24 rank which it occupied last year.
Campustrack Survey ’06 is an annual survey conducted by AC Nielsen among 1,200 students across top 20 business schools of India.
It has been a big come down for the IT majors Microsoft, TCS, Oracle - who have fallen off the top ten list this year. Microsoft was the most preferred employer on the B-school campus last year. Even Google, which was the second most preferred recruiter last year has dropped to No 7. Banks seemed to have bounced back in thse top 10 list with Deutsche Bank, HSBC and Citigroup figuring in the top 10.
TAS is the only Indian firm that has figured in the top 10 list. According to Rajesh Dahiya, vice-president, TAS & Sourcing, Group Human Resources, Tata Group, “In the recent years, we have been working hard at creating very challenging opportunities for young talented TAS recruits, aggressively developing them and communicating with the campuses all this excitement. We are making progress as more potential recruits at the campuses share this excitement. We need to continuously keep connecting with the campus students and communicating the exciting career opportunities in the Tata Group.”
Campustrack Survey ’06 is an annual survey conducted by AC Nielsen among 1,200 students across top 20 business schools of India.
It has been a big come down for the IT majors Microsoft, TCS, Oracle - who have fallen off the top ten list this year. Microsoft was the most preferred employer on the B-school campus last year. Even Google, which was the second most preferred recruiter last year has dropped to No 7. Banks seemed to have bounced back in thse top 10 list with Deutsche Bank, HSBC and Citigroup figuring in the top 10.
TAS is the only Indian firm that has figured in the top 10 list. According to Rajesh Dahiya, vice-president, TAS & Sourcing, Group Human Resources, Tata Group, “In the recent years, we have been working hard at creating very challenging opportunities for young talented TAS recruits, aggressively developing them and communicating with the campuses all this excitement. We are making progress as more potential recruits at the campuses share this excitement. We need to continuously keep connecting with the campus students and communicating the exciting career opportunities in the Tata Group.”
Tuesday, September 26, 2006
India leads BRICs in business index
NEW DELHI: India is the leader of the BRICs (Brazil, Russia, India and China) pack when it comes to business competitiveness, according to the Global Competitiveness Report ’06 of the World Economic Forum. The report, which measures the steps taken by economies to encourage companies set up shop there, has also lauded efficiency gains made by India in labour and financial markets. It has, however, warned that the country’s growth rate could plateau off at the current 8% rate.
India has moved up to the 43rd position from 45th last year in the Global Competitiveness Index. This is well ahead of China at 54, Brazil at 66, and Russia at 62, among 125 countries. The findings of the report are quite different from that of the Doing Business in India report, released recently by the International Finance Corporation. It had ranked India at 134 out of 175 countries in terms of ease of conducting a business.
The list of countries in the Global Competitiveness Report is topped by Switzerland, followed by Finland and Sweden. The report, while ranking the competitive edge of world economies, shows India has scored well in innovation and sophistication of firm operations, as well as in the adoption of technologies from abroad.
But its level of fiscal deficit is still an area of concern, along with that of lack of appropriate infrastructure, hampering growth in remote regions. The other concerns revolve on shortcomings in the provision of health services and education, which are necessary to ensure that the benefits of economic growth are more broadly distributed.
Augusto Lopez-Claros, chief economist and head of the World Economic Forum’s Global Competitiveness Network, told reporters: “It is particularly encouraging to see substantial improvements in the quality of public institutions and the underlying institutional climate in such areas as property rights, operation of the judicial system and other indicators which capture essential aspects of building a sound investment climate.” The list of top ten most competitive economies of the world — besides Switzerland, Finland and Sweden — include the US, Japan, Germany, the Netherlands and the United Kingdom. The list was led by the US last year.
The rankings are drawn from a combination of publicly available data and the results of the Executive Opinion Survey, a comprehensive annual survey conducted by the World Economic Forum, together with its Network of Partner Institutes (leading research institutes and business organisations), in the countries covered by the Report. This year, over 11,000 business leaders were polled to capture a broad range of factors affecting an economy’s business climate that are critical determinants of sustained economic growth.
Gulf opens doors to white-collared Indians
In the gulf, the blue collar is turning white. The war for terror, rising security concerns among Europeans and Americans and good talent pool of Indian executives is pushing global majors to hire Indians for positions that typically went to the Westerners.
For India, this marks a big shift from the past — so far, the West Asian region has been a favourite destination for primarily blue-collar Indian workers. Close to 4m Indians today work in the Gulf. Kerala alone sent 1.3 lakh workers in ’05. Most of these workers seek out work at the lower-end of the value spectrum, namely, as cooks, security agents, construction workers.
StanChart, Grindlays, IBM, Shell, which typically hired Westerners at senior levels in Gulf operations, are now hiring Indians. For headhunters, business in the Gulf is booming. EmmayHR estimates that the number of jobs being filled by Indians in the Gulf has risen by 200% in the last five years. Ma Foi, an HR consultancy firm, has seen its monthly placements increase from under 10 to now up to 30 executives over the last three years. “These numbers would have been higher, however, competitive and escalating salaries in India and a larger influx of MNCs has also made people consider staying back in India,” says Madhu Bhojwani, COO, EmmayHR.
Rising terrorist attacks have raised risk levels for Westerners who tend to avoid assignments in the region. This is well-timed with the rise of Brand India — the demand for Indian executives has been rising internationally — from the traditional US and Europe markets, Indians are also being actively wooed by companies in the Gulf and S-E Asia. The challenging experience in a chaotic and fast growing market like India makes Indian executives well suited for these kinds of international assignment, says Hithendra KR, VP, Cornell international.
Plenty of local Arab firms are also hiring Indians at the top. “Indians are culturally more aligned than their Western counterparts. Indians offer flexible work hours, they don’t mind working even late evenings,” says E Balaji, COO, Ma Foi. Not to forget Indians can be hired at a lesser package. Even though salary levels are not different between India and the Gulf region, the fact that they take home a tax-free salary makes a huge difference, and there are a number of perks too.
For India, this marks a big shift from the past — so far, the West Asian region has been a favourite destination for primarily blue-collar Indian workers. Close to 4m Indians today work in the Gulf. Kerala alone sent 1.3 lakh workers in ’05. Most of these workers seek out work at the lower-end of the value spectrum, namely, as cooks, security agents, construction workers.
StanChart, Grindlays, IBM, Shell, which typically hired Westerners at senior levels in Gulf operations, are now hiring Indians. For headhunters, business in the Gulf is booming. EmmayHR estimates that the number of jobs being filled by Indians in the Gulf has risen by 200% in the last five years. Ma Foi, an HR consultancy firm, has seen its monthly placements increase from under 10 to now up to 30 executives over the last three years. “These numbers would have been higher, however, competitive and escalating salaries in India and a larger influx of MNCs has also made people consider staying back in India,” says Madhu Bhojwani, COO, EmmayHR.
Rising terrorist attacks have raised risk levels for Westerners who tend to avoid assignments in the region. This is well-timed with the rise of Brand India — the demand for Indian executives has been rising internationally — from the traditional US and Europe markets, Indians are also being actively wooed by companies in the Gulf and S-E Asia. The challenging experience in a chaotic and fast growing market like India makes Indian executives well suited for these kinds of international assignment, says Hithendra KR, VP, Cornell international.
Plenty of local Arab firms are also hiring Indians at the top. “Indians are culturally more aligned than their Western counterparts. Indians offer flexible work hours, they don’t mind working even late evenings,” says E Balaji, COO, Ma Foi. Not to forget Indians can be hired at a lesser package. Even though salary levels are not different between India and the Gulf region, the fact that they take home a tax-free salary makes a huge difference, and there are a number of perks too.
Indian gurus grace MNC board rooms
Call it the Indian tone at the top. A clutch of Indian gurus now grace the oak panelled board rooms of Fortune 500 companies, imparting strategic direction and adding diverse views to these companies. While western gurus such as Michael Porter, Tom Peters and Gary Hamel have graced boards of leading companies, Indian gurus are increasingly finding favour.
Kellogg’s dean Dipak Jain serves on the board of Hartmax Corporation, John Deere and Company, Northern Trust Corporation and Peoples Energy. Similarly, strategy guru CK Prahlad is on the board of NCR Corp and World Resources Institute. And the author of ‘Ten rules of Strategic Innovators: From Idea to Execution’, Vijay Govindrajan, is not just a professor of strategy at Tuck but also on the board of Mainstay Partners and Executive Development Associates. Prof Jagdish Sheth of ‘The Rule of Three’ fame is a professor at Emory and on the board of Cryocell International and Adayana Inc.
Can Harvard Profs be far behind? Nah, Tarun Khanna serves on the board of Westbridge Capital Partners International, Bunge and Educasia Inc. While his colleague Krishna Palepu and is one of the board of Enamics, a US tech startup. But it’s a win-win situation for both, the academic as well as the company. “The professors get a lucrative assignment and an insight into the operations of a company, while the company gets a management consultant to sit on its board,” says Sunil Chandiramani, national director, risk and advisory services, E&Y.
No doubt, companies in mature economies have recognised this trend of adding academics to their thinktank. An increasing number of Indians in top notch B-schools are excelling at academics, doing cutting-edge research and this has resulted in more Indian faces on global boards. “Indians on global boards is not a dominating but a rising trend. India is a hot market and there is a need to tap not just the Indian mindset but the diverse skill set as well,” says Poonam Barua, regional director, India, The Conference Board, an international firm that specialises in corporate governance.
So while Piyush Pandey might be the latest Indian to join a global board at Ogilvy and Mather, it is actually the intellectual thinktank of India which has managed to break this glass ceiling. So, one of the internet posterboys and hotshot marketing teacher, MohanBir Sawhney, a professor at Kelloggs is on the board of quite a few technology startups in the US as well as a part of the Techbrains advisory board at Merrill Lynch.
According to Ms Barua, Indian companies define their global thinking in terms of overseas revenues, while a diverse global board that reflects markets as well as consumers is the correct benchmark of a global company. But then Gyan has been always an Indian speciality.
Kellogg’s dean Dipak Jain serves on the board of Hartmax Corporation, John Deere and Company, Northern Trust Corporation and Peoples Energy. Similarly, strategy guru CK Prahlad is on the board of NCR Corp and World Resources Institute. And the author of ‘Ten rules of Strategic Innovators: From Idea to Execution’, Vijay Govindrajan, is not just a professor of strategy at Tuck but also on the board of Mainstay Partners and Executive Development Associates. Prof Jagdish Sheth of ‘The Rule of Three’ fame is a professor at Emory and on the board of Cryocell International and Adayana Inc.
Can Harvard Profs be far behind? Nah, Tarun Khanna serves on the board of Westbridge Capital Partners International, Bunge and Educasia Inc. While his colleague Krishna Palepu and is one of the board of Enamics, a US tech startup. But it’s a win-win situation for both, the academic as well as the company. “The professors get a lucrative assignment and an insight into the operations of a company, while the company gets a management consultant to sit on its board,” says Sunil Chandiramani, national director, risk and advisory services, E&Y.
No doubt, companies in mature economies have recognised this trend of adding academics to their thinktank. An increasing number of Indians in top notch B-schools are excelling at academics, doing cutting-edge research and this has resulted in more Indian faces on global boards. “Indians on global boards is not a dominating but a rising trend. India is a hot market and there is a need to tap not just the Indian mindset but the diverse skill set as well,” says Poonam Barua, regional director, India, The Conference Board, an international firm that specialises in corporate governance.
So while Piyush Pandey might be the latest Indian to join a global board at Ogilvy and Mather, it is actually the intellectual thinktank of India which has managed to break this glass ceiling. So, one of the internet posterboys and hotshot marketing teacher, MohanBir Sawhney, a professor at Kelloggs is on the board of quite a few technology startups in the US as well as a part of the Techbrains advisory board at Merrill Lynch.
According to Ms Barua, Indian companies define their global thinking in terms of overseas revenues, while a diverse global board that reflects markets as well as consumers is the correct benchmark of a global company. But then Gyan has been always an Indian speciality.
Monday, September 25, 2006
More Management Lessons from Dhirubhai
All of us who knew and worked with Dhirubhai right from the early days have many wonderful memories of personal and extremely enlightening encounters with him. We came from varied backgrounds yet none of us had met a force like Dhirubhai before.
Our experience working for him has left such a lasting impression that I think we carry around a permanent 'Dhirubhai tattoo' on our brains and in our hearts!
1. The arm-around-the-shoulder leader
I have never seen any other empire builder nor the CEO of any big organisation do this (why, I never adopted this myself!).
It was Dhirubhai's very own signature style. Whenever I went to meet him and if on that day, all the time that he could spare me was a short walk up to his car, he would instantly put his arm around me and proceed to discuss the issues at hand as we walked.
With that one simple gesture, he managed to achieve many things. I was put at ease instantaneously. I was made to feel like an equal who was loved and important enough to be considered close to him. And I would walk away from that meeting feeling so good about myself and the work I was doing!
This tendency that he had, to draw people towards him, manifested itself in countless ways. This was just one of them. He would never, ever exude an air of aloofness and exclusivity. He was always inviting people into sharing their thoughts and ideas, rather than shutting them out.
On hindsight I think, it must have required phenomenal generosity of spirit to be that inclusive. Yes, this was one of the things that was uniquely Dhirubhai -- that warm arm around my shoulder that did much more than words in letting me know that I belonged, that I had his trust, and that I had him on my side!
2. The Dhirubhai theory of Supply creating Demand
He was not an MBA. Nor an economist. But yet he took traditional market theory and stood it on its head. And succeeded.
Yes, at a time when everyone in India would build capacities only after a careful study of market expectations, he went full steam ahead and created giants of manufacturing plants with unbelievable capacites. (Initial cap of Reliance Patalganga was 10,000 tonnes of PFY way back in 1980, while the market in India for it was approx. 6000 tonnes).
No doubt his instinct was backed by years and years of reading, studying market trends, careful listening and his own honed capacity to forecast, but yet despite all this preparation, it required undeniable guts to pioneer such a revolutionary move.
The consequence was that the market blossomed to absorb supply, the consumer benefited with prices crashing down, the players increased and our economic landscape changed for the better. The Patalganga plant was in no time humming at maximum capacity and as a result of the plant's economies of scale, Dhirubhai's conversion cost of the yarn in 1994 came down to 18 cents per pound, as compared to Western Europe's 34 cents, North America's 29 cents and the Far East's 23 cents and Reliance was exporting the yarn back to the US!
A more recent example was that of Mukesh Ambani taking this vision forward with Reliance Infocomm (which is now handled by Anil Ambani). In India's mobile telephony timeline there will always be a very clear 'before Infocomm and after Infocomm' segmentation. The numbers say it all. In Jan 2003, the mobile subscriber base was 13 million, about 16 months later, shortly after the launch, it had reached 30 million.
In March 2006, it has touched 90 million ! Yes, this was yet another unusual skill of Dhirubhai's -- his uncanny knack of knowing exactly how the market is going to behave.
3. Money is not a product by itself, it is a by-product, so don't chase it
This was a belief by which Dhirubhai lived all his life. For instance when he briefed me about setting up Mudra, his instruction was clear: 'Produce the best textile advertising in the country,' he said.
He did not breathe a word about profits, nor about becoming the richest ad agency in the country. Great advertising was the goal that he set for me. A by-product is something that you don't set out to produce. It is the spin off when you create something larger.
When you turn logs into lumber, sawdust is your by-product and a pretty lucrative one it can be too! It is a very simple analogy but extremely effective in driving the point home. Work toward a goal beyond your bank balance.
Success in attaining that goal will eventually ring in the cash. For instance, if you work towards creating a name for yourself and earning a good reputation, then money is a logical outcome.
People will pay for your product or service if it is good. But if you get your priorities slightly mixed up, not only will the money you make remain just a quick buck it would in all likelihood blacklist you for good. Sounds too simplistic for belief? Well, look around you and you will know exactly how true it is.
Our experience working for him has left such a lasting impression that I think we carry around a permanent 'Dhirubhai tattoo' on our brains and in our hearts!
1. The arm-around-the-shoulder leader
I have never seen any other empire builder nor the CEO of any big organisation do this (why, I never adopted this myself!).
It was Dhirubhai's very own signature style. Whenever I went to meet him and if on that day, all the time that he could spare me was a short walk up to his car, he would instantly put his arm around me and proceed to discuss the issues at hand as we walked.
With that one simple gesture, he managed to achieve many things. I was put at ease instantaneously. I was made to feel like an equal who was loved and important enough to be considered close to him. And I would walk away from that meeting feeling so good about myself and the work I was doing!
This tendency that he had, to draw people towards him, manifested itself in countless ways. This was just one of them. He would never, ever exude an air of aloofness and exclusivity. He was always inviting people into sharing their thoughts and ideas, rather than shutting them out.
On hindsight I think, it must have required phenomenal generosity of spirit to be that inclusive. Yes, this was one of the things that was uniquely Dhirubhai -- that warm arm around my shoulder that did much more than words in letting me know that I belonged, that I had his trust, and that I had him on my side!
2. The Dhirubhai theory of Supply creating Demand
He was not an MBA. Nor an economist. But yet he took traditional market theory and stood it on its head. And succeeded.
Yes, at a time when everyone in India would build capacities only after a careful study of market expectations, he went full steam ahead and created giants of manufacturing plants with unbelievable capacites. (Initial cap of Reliance Patalganga was 10,000 tonnes of PFY way back in 1980, while the market in India for it was approx. 6000 tonnes).
No doubt his instinct was backed by years and years of reading, studying market trends, careful listening and his own honed capacity to forecast, but yet despite all this preparation, it required undeniable guts to pioneer such a revolutionary move.
The consequence was that the market blossomed to absorb supply, the consumer benefited with prices crashing down, the players increased and our economic landscape changed for the better. The Patalganga plant was in no time humming at maximum capacity and as a result of the plant's economies of scale, Dhirubhai's conversion cost of the yarn in 1994 came down to 18 cents per pound, as compared to Western Europe's 34 cents, North America's 29 cents and the Far East's 23 cents and Reliance was exporting the yarn back to the US!
A more recent example was that of Mukesh Ambani taking this vision forward with Reliance Infocomm (which is now handled by Anil Ambani). In India's mobile telephony timeline there will always be a very clear 'before Infocomm and after Infocomm' segmentation. The numbers say it all. In Jan 2003, the mobile subscriber base was 13 million, about 16 months later, shortly after the launch, it had reached 30 million.
In March 2006, it has touched 90 million ! Yes, this was yet another unusual skill of Dhirubhai's -- his uncanny knack of knowing exactly how the market is going to behave.
3. Money is not a product by itself, it is a by-product, so don't chase it
This was a belief by which Dhirubhai lived all his life. For instance when he briefed me about setting up Mudra, his instruction was clear: 'Produce the best textile advertising in the country,' he said.
He did not breathe a word about profits, nor about becoming the richest ad agency in the country. Great advertising was the goal that he set for me. A by-product is something that you don't set out to produce. It is the spin off when you create something larger.
When you turn logs into lumber, sawdust is your by-product and a pretty lucrative one it can be too! It is a very simple analogy but extremely effective in driving the point home. Work toward a goal beyond your bank balance.
Success in attaining that goal will eventually ring in the cash. For instance, if you work towards creating a name for yourself and earning a good reputation, then money is a logical outcome.
People will pay for your product or service if it is good. But if you get your priorities slightly mixed up, not only will the money you make remain just a quick buck it would in all likelihood blacklist you for good. Sounds too simplistic for belief? Well, look around you and you will know exactly how true it is.
Great Lessons from DhiruBhai Ambani
On Dhirubhai H Ambani again, unabashedly so, and for a very good reason.
I guess it must have struck many readers by now that I idolised Dhirubhai. They are right. I do. Every column I write on Dhirubhaism invites an outpouring of mail, some even requesting me to mail them the previous column on Dhirubhaism.
And I am glad that I have an opportunity to share what I've learned from Dhirubhai with you.
He was a one-in-a-million human being, and I was blessed to have had him as my boss. He taught me many things that have transformed an ordinary executive that I was, to be the founder chairman of an agency that grew from nothing to one of India's largest.
I would have never achieved that without him. It would be a shame if I then let his extraordinary teachings gather dust. And judging by the response I receive, it looks like there are some really eager learners out there. So here goes.
Dhirubhaism: Leave the professional alone!
Much as people would like to believe, most owners (even managers and clients), though eager to hire the best professionals in the field, do so and then use them as extensions of their own personality. Every time I come across this, which is much too often, I am reminded of how Dhirubhai's management techniques used to be (and still remain) so refreshingly different.
For instance, way back in the late 1970s when we decided to open an agency of our own, he asked me to name it. I carried a short list of three names, two Westernised and one Indian. It was a very different world back then. Everything Anglicised was considered "upmarket."
There were hardly any agencies with Indian names barring my own ex-agency Shilpi and a few others like Ulka and Sistas. He looked at the list and asked me what my choice was. I said "Mudra": it was the only name that suited my personality. And the spirit of the agency that I was to head.
I was very Indian and an Anglicised name on my visiting card would seem pretentious and contrived. No further questions were asked. No suggestions offered, just a plain and simple "Go ahead and do it." That was just the beginning.
He continued to give me total freedom -- no supervision, no policing -- in all my decisions thereafter. In fact, the only direction that he gave me, just once, was this: "Produce your best."
His utter trust in me was what pushed me to never, ever let him down. I guess the simplest strategies are often the hardest to adopt. That was the secret of the Dhirubhai legend. It was not out of a book. It was a skillful blend of head and heart.
Dhirubhaism: Change your orbit, constantly!
To understand this statement, let me explain Dhirubhai's "orbit theory."
He would often explain that we are all born into an orbit. It is up to us to progress to the next. We could choose to live and die in the orbit that we are born in. But that would be a criminal waste of potential. When we push ourselves into the next orbit, we benefit not only ourselves but everyone connected with us.
Take India's push for development. There was once a time our country's growth rate was just 4 per cent, sarcastically referred to as the "Hindu growth rate." Look at us today, galloping along at a healthy 7-8 per cent.
This is no miracle. It is the product of a handful of determined orbit changers like Dhirubhai, all of whose efforts have benefited a larger sphere in their respective fields.
In a small way, I too have experienced the thrill of changing orbits with Mudra. In the 1980s, we leapt from the orbit of a small Ahmedabad ad agency to become the country's third largest ad agency -- in just under a decade.
However, when you change orbits, you will create friction. The good news is that your enemies from your previous orbit will never be able to reach you in your new one. By the time resentment builds up in your new orbit, you should move to the next level. And so on.
Changing orbits is the key to our progress as a nation.
(source : Rediff.com)
I guess it must have struck many readers by now that I idolised Dhirubhai. They are right. I do. Every column I write on Dhirubhaism invites an outpouring of mail, some even requesting me to mail them the previous column on Dhirubhaism.
And I am glad that I have an opportunity to share what I've learned from Dhirubhai with you.
He was a one-in-a-million human being, and I was blessed to have had him as my boss. He taught me many things that have transformed an ordinary executive that I was, to be the founder chairman of an agency that grew from nothing to one of India's largest.
I would have never achieved that without him. It would be a shame if I then let his extraordinary teachings gather dust. And judging by the response I receive, it looks like there are some really eager learners out there. So here goes.
Dhirubhaism: Leave the professional alone!
Much as people would like to believe, most owners (even managers and clients), though eager to hire the best professionals in the field, do so and then use them as extensions of their own personality. Every time I come across this, which is much too often, I am reminded of how Dhirubhai's management techniques used to be (and still remain) so refreshingly different.
For instance, way back in the late 1970s when we decided to open an agency of our own, he asked me to name it. I carried a short list of three names, two Westernised and one Indian. It was a very different world back then. Everything Anglicised was considered "upmarket."
There were hardly any agencies with Indian names barring my own ex-agency Shilpi and a few others like Ulka and Sistas. He looked at the list and asked me what my choice was. I said "Mudra": it was the only name that suited my personality. And the spirit of the agency that I was to head.
I was very Indian and an Anglicised name on my visiting card would seem pretentious and contrived. No further questions were asked. No suggestions offered, just a plain and simple "Go ahead and do it." That was just the beginning.
He continued to give me total freedom -- no supervision, no policing -- in all my decisions thereafter. In fact, the only direction that he gave me, just once, was this: "Produce your best."
His utter trust in me was what pushed me to never, ever let him down. I guess the simplest strategies are often the hardest to adopt. That was the secret of the Dhirubhai legend. It was not out of a book. It was a skillful blend of head and heart.
Dhirubhaism: Change your orbit, constantly!
To understand this statement, let me explain Dhirubhai's "orbit theory."
He would often explain that we are all born into an orbit. It is up to us to progress to the next. We could choose to live and die in the orbit that we are born in. But that would be a criminal waste of potential. When we push ourselves into the next orbit, we benefit not only ourselves but everyone connected with us.
Take India's push for development. There was once a time our country's growth rate was just 4 per cent, sarcastically referred to as the "Hindu growth rate." Look at us today, galloping along at a healthy 7-8 per cent.
This is no miracle. It is the product of a handful of determined orbit changers like Dhirubhai, all of whose efforts have benefited a larger sphere in their respective fields.
In a small way, I too have experienced the thrill of changing orbits with Mudra. In the 1980s, we leapt from the orbit of a small Ahmedabad ad agency to become the country's third largest ad agency -- in just under a decade.
However, when you change orbits, you will create friction. The good news is that your enemies from your previous orbit will never be able to reach you in your new one. By the time resentment builds up in your new orbit, you should move to the next level. And so on.
Changing orbits is the key to our progress as a nation.
(source : Rediff.com)
Dhirubhai gave management a whole new 'ism'
Dhirubhai Ambani was no ordinary leader. He was a man who gave management a whole new "ism".
Because, without exaggeration, it's a word for which no synonym can do full justice: "Dhirubhaism".
Inspired by the truly phenomenal Dhirubhai H Ambani, it denotes a characteristic, tendency or syndrome as demonstrated by its inspirer. Dhirubhai, on his part, had he been around, would have laughed heartily and declared, "Small men like me don't inspire big words!"
There you have it - now that is a classic Dhirubhaism, the tendency to disregard one's own invaluable contribution to society as significant.
Everyone who knew Dhirubhai well will have his or her own little anecdote that illustrates his unique personality. He was a person whose heart and head both worked at peak efficiency levels, all the time. And that resulted in a truly unique and remarkable work philosophy, which is what defined as Dhirubhaism.
Dhirubhaism No 1: Roll up your sleeves and help. You and your team share the same DNA. Reliance, during Vimal's heady days had organized a fashion show at the Convention Hall, at Ashoka Hotel in New Delhi.
As usual, every seat in the hall was taken, and there were an equal number of impatient guests outside, waiting to be seated. I was of course completely besieged, trying to handle the ensuing confusion, chaos and protests, when to my amazement and relief, I saw Dhirubhai at the door trying to pacify the guests.
Dhirubhai at that time was already a name to reckon with and a VIP himself, but that did not stop him from rolling up his sleeves and diving in to rescue a situation that had gone out of control. Most bosses in his place would have driven up in their swank cars at the last moment and given the manager a piece of their minds. Not Dhirubhai.
When things went wrong, he was the first person to sense that the circumstances would have been beyond his team's control, rather than it being a slip on their part, as he trusted their capabilities implicitly. His first instinct was always to join his men in putting out the fire and not crucifying them for it. Sounds too good a boss to be true, doesn't he? But then, that was Dhirubhai.
Dhirubhaism No 2: Be a safety net for your team. There used to be a time when our agency Mudra was the target of some extremely vicious propaganda by our peers, when on an almost daily basis my business ethics were put on trial. I, on my part, putting on a brave front, never raised this subject during any of my meetings with Dhirubhai.
But one day, during a particularly nasty spell, he gently asked me if I needed any help in combating it. That did it. That was all the help that I needed. Overwhelmed by his concern and compassion, I told him I could cope, but the knowledge that he knew and cared for what I was going through, and that he was there for me if I ever needed him, worked wonders for my confidence.
I went back a much taller man fully armed to face whatever came my way. By letting us know that he was always aware of the trials we underwent and that he was by our side through it all, he gave us the courage we never knew we had.
Dhirubhaism No 3: The silent benefactor. This was another of his remarkable traits. When he helped someone, he never ever breathed a word about it to anyone else. There have been none among us who haven't known his kindness, yet he never went around broadcasting it.
He never used charity as a platform to gain publicity. Sometimes, he would even go to the extent of not letting the recipient know who the donor was. Such was the extent of his generosity. "Expect the unexpected" just might have been coined for him.
Dhirubhaism No 4: Dream big but dream with your eyes open. His phenomenal achievement showed India that limitations were only in the mind. And that nothing was truly unattainable for those who dreamed big.
Whenever I tried to point out to him that a task seemed too big to be accomplished, he would reply: " No is no answer!" Not only did he dream big, he taught all of us to do so too. His one-line brief to me when we began Mudra was: "Make Vimal's advertising the benchmark for fashion advertising in the country."
At that time, we were just a tiny, fledgling agency, tucked away in Ahmedabad, struggling to put a team in place. When we presented the seemingly insurmountable to him, his favourite response was always: "It's difficult but not impossible!" And he was right. We did go on to achieve the impossible.
Both in its size and scope Vimal's fashion shows were unprecedented in the country. Grand showroom openings, stunning experiments in print and poster work all combined to give the brand a truly benchmark image. But way back in 1980, no one would have believed it could have ever been possible. Except Dhirubhai.
But though he dreamed big, he was able to clearly distinguish between perception and reality and his favourite phrase "dream with your eyes open" underlined this.
He never let preset norms govern his vision, yet he worked night and day familiarizing himself with every little nitty-gritty that constituted his dreams constantly sifting the wheat from the chaff. This is how, as he put it, even though he dreamed, none of his dreams turned into nightmares. And this is what gave him the courage to move from one orbit to the next despite tremendous odds.
Dhirubhai was indeed a man of many parts, as is evident. I am sure there are many people who display some of the traits mentioned above, in their working styles as well, but Dhirubhai was one of those rare people who demonstrated all of them, all the time.
And that's what made him such a phenomenal team builder and achiever. Yes, we all need "Dhirubhaisms" in our lives to remind us that if it was possible for one person to be all this and more, we too can. And like him, go on to achieve the impossible too.
(source: rediff.com)
Because, without exaggeration, it's a word for which no synonym can do full justice: "Dhirubhaism".
Inspired by the truly phenomenal Dhirubhai H Ambani, it denotes a characteristic, tendency or syndrome as demonstrated by its inspirer. Dhirubhai, on his part, had he been around, would have laughed heartily and declared, "Small men like me don't inspire big words!"
There you have it - now that is a classic Dhirubhaism, the tendency to disregard one's own invaluable contribution to society as significant.
Everyone who knew Dhirubhai well will have his or her own little anecdote that illustrates his unique personality. He was a person whose heart and head both worked at peak efficiency levels, all the time. And that resulted in a truly unique and remarkable work philosophy, which is what defined as Dhirubhaism.
Dhirubhaism No 1: Roll up your sleeves and help. You and your team share the same DNA. Reliance, during Vimal's heady days had organized a fashion show at the Convention Hall, at Ashoka Hotel in New Delhi.
As usual, every seat in the hall was taken, and there were an equal number of impatient guests outside, waiting to be seated. I was of course completely besieged, trying to handle the ensuing confusion, chaos and protests, when to my amazement and relief, I saw Dhirubhai at the door trying to pacify the guests.
Dhirubhai at that time was already a name to reckon with and a VIP himself, but that did not stop him from rolling up his sleeves and diving in to rescue a situation that had gone out of control. Most bosses in his place would have driven up in their swank cars at the last moment and given the manager a piece of their minds. Not Dhirubhai.
When things went wrong, he was the first person to sense that the circumstances would have been beyond his team's control, rather than it being a slip on their part, as he trusted their capabilities implicitly. His first instinct was always to join his men in putting out the fire and not crucifying them for it. Sounds too good a boss to be true, doesn't he? But then, that was Dhirubhai.
Dhirubhaism No 2: Be a safety net for your team. There used to be a time when our agency Mudra was the target of some extremely vicious propaganda by our peers, when on an almost daily basis my business ethics were put on trial. I, on my part, putting on a brave front, never raised this subject during any of my meetings with Dhirubhai.
But one day, during a particularly nasty spell, he gently asked me if I needed any help in combating it. That did it. That was all the help that I needed. Overwhelmed by his concern and compassion, I told him I could cope, but the knowledge that he knew and cared for what I was going through, and that he was there for me if I ever needed him, worked wonders for my confidence.
I went back a much taller man fully armed to face whatever came my way. By letting us know that he was always aware of the trials we underwent and that he was by our side through it all, he gave us the courage we never knew we had.
Dhirubhaism No 3: The silent benefactor. This was another of his remarkable traits. When he helped someone, he never ever breathed a word about it to anyone else. There have been none among us who haven't known his kindness, yet he never went around broadcasting it.
He never used charity as a platform to gain publicity. Sometimes, he would even go to the extent of not letting the recipient know who the donor was. Such was the extent of his generosity. "Expect the unexpected" just might have been coined for him.
Dhirubhaism No 4: Dream big but dream with your eyes open. His phenomenal achievement showed India that limitations were only in the mind. And that nothing was truly unattainable for those who dreamed big.
Whenever I tried to point out to him that a task seemed too big to be accomplished, he would reply: " No is no answer!" Not only did he dream big, he taught all of us to do so too. His one-line brief to me when we began Mudra was: "Make Vimal's advertising the benchmark for fashion advertising in the country."
At that time, we were just a tiny, fledgling agency, tucked away in Ahmedabad, struggling to put a team in place. When we presented the seemingly insurmountable to him, his favourite response was always: "It's difficult but not impossible!" And he was right. We did go on to achieve the impossible.
Both in its size and scope Vimal's fashion shows were unprecedented in the country. Grand showroom openings, stunning experiments in print and poster work all combined to give the brand a truly benchmark image. But way back in 1980, no one would have believed it could have ever been possible. Except Dhirubhai.
But though he dreamed big, he was able to clearly distinguish between perception and reality and his favourite phrase "dream with your eyes open" underlined this.
He never let preset norms govern his vision, yet he worked night and day familiarizing himself with every little nitty-gritty that constituted his dreams constantly sifting the wheat from the chaff. This is how, as he put it, even though he dreamed, none of his dreams turned into nightmares. And this is what gave him the courage to move from one orbit to the next despite tremendous odds.
Dhirubhai was indeed a man of many parts, as is evident. I am sure there are many people who display some of the traits mentioned above, in their working styles as well, but Dhirubhai was one of those rare people who demonstrated all of them, all the time.
And that's what made him such a phenomenal team builder and achiever. Yes, we all need "Dhirubhaisms" in our lives to remind us that if it was possible for one person to be all this and more, we too can. And like him, go on to achieve the impossible too.
(source: rediff.com)
Sunday, September 24, 2006
Kumar Birla plans $2 bn retail foray
After Reliance and Bharti, Birlas also want to take pie in growing Retail Sector.
With an eye on the nascent organised retail business opportunity, the Aditya Birla group will invest over $2 billion in the next five years for rolling out a mix of supermarkets and hypermarkets across the country.
A key element of the group’s strategy will be its focus on “private labels”, products that are sold under brand names owned by the company. The initial roll-out is expected to begin within 15 months.
Unlike the retail plans of other Indian corporates, the Aditya Birla group, headed by Kumar Mangalam Birla, is not looking at tying up with a global major. Project finances were being tied-up, sources said. Key resource people have already been hired from existing retail majors like Shoppers’ Stop and Pantaloon.
Barring branded fast-moving consumer goods, the Aditya Birla group’s retail foray is expected to look at creating private labels in all categories such as food and groceries, apparel and homecare products.
Sources added that most of the sourcing would be from within the country, because the duty structure did not make imports a viable option.
The group has substantial experience in textile retail with Madura Garments, which has leading brands like Van Heusen, Allen Solly, Peter England, Louis Philippe and SF Jeans in its kitty. It is also the licensee for international brands like Esprit.
The booming retail sector is attracting the country’s leading business houses such as Reliance Industries, Bharti Enterprises, the Tatas and the Reliance Anil Dhirubhai Ambani Group. Organised retail in India is estimated at $6 billion and is projected to grow at 20-25 per cent per annum.
After Reliance and Bharti, Birlas also want to take pie in growing Retail Sector.
With an eye on the nascent organised retail business opportunity, the Aditya Birla group will invest over $2 billion in the next five years for rolling out a mix of supermarkets and hypermarkets across the country.
A key element of the group’s strategy will be its focus on “private labels”, products that are sold under brand names owned by the company. The initial roll-out is expected to begin within 15 months.
Unlike the retail plans of other Indian corporates, the Aditya Birla group, headed by Kumar Mangalam Birla, is not looking at tying up with a global major. Project finances were being tied-up, sources said. Key resource people have already been hired from existing retail majors like Shoppers’ Stop and Pantaloon.
Barring branded fast-moving consumer goods, the Aditya Birla group’s retail foray is expected to look at creating private labels in all categories such as food and groceries, apparel and homecare products.
Sources added that most of the sourcing would be from within the country, because the duty structure did not make imports a viable option.
The group has substantial experience in textile retail with Madura Garments, which has leading brands like Van Heusen, Allen Solly, Peter England, Louis Philippe and SF Jeans in its kitty. It is also the licensee for international brands like Esprit.
The booming retail sector is attracting the country’s leading business houses such as Reliance Industries, Bharti Enterprises, the Tatas and the Reliance Anil Dhirubhai Ambani Group. Organised retail in India is estimated at $6 billion and is projected to grow at 20-25 per cent per annum.
Rajiv Bajaj makes it to Forbes cover page
It's not necessary to build an empire like Mittal Steel and become a billionaire like Azim Premji to make it to the cover of Forbes magazine; a corporate thesis as basic as excelling in your business can also take you there - just like Rajiv Bajaj.
The MD of Bajaj Auto has done it by executing a turnaround in his family-run automaker and reclaiming the top position in the two-wheeler market, while earning himself a place on the cover page of the Asia edition of the world's most famous capitalist magazine.
Besides, Bajaj Auto also finds place in Asia's Fab 50 list, featured in the same October issue of Forbes Asia - among the companies that the magazine describes as the best of Asia-Pacific's publicly traded firms.The auto major posted net profit of $238 million with sales of $1.9 billion last year, ensuring it a place on the Fab 50 list, the magazine said.Rajiv is credited with the turnaround, transforming Bajaj from a stodgy scooter manufacturer to a tech-happy motorcycle maker in a country, where two-wheelers account for 80% of all vehicles.
However, it has been a long and not so easy ride for Rajiv Bajaj. In 2001, a year after Rajiv unofficially took the rein of the family-run business, he has seen Bajaj Auto losing its market lead in the two-wheeler market for the first time in 45 years.Motorcycles took over the market and Hero Honda's dominance was so great that such bikes, regardless of brand, were known as "Hondas", the magazine says in its cover story.
NRI Punjabis launches India Education Fund
LONDON: An organisation representing Punjabis here has launched an India Education Fund with a Rs 8.71 lakh corpus to help economically weak students from the community pursue higher studies in British Universities.
The Global President of World Punjabi Organisation (WPO) Vikramjit Singh Sahney said bright Punjabi students would benefit from the 10,000 pounds fund (Rs 8.71 lakh approx) A cheque for 2,500 pounds towards the scholarship was handed over to Sandra Hollis, Director, University of East London at the annual function of the organisation yesterday.
WPO would give five scholarships every year. Sahney also announced a donation of 500 pounds for a new library at the University of East London. R S Baxi, President of the WPO, European Division said a Punjab House would be established here shortly to promote Punjabi language, folk dance, art and culture of Punjab.
Addressing the annual function, Pat McFadden, MP, Minister of State, Cabinet Office, acknowledged the "tremendous contribution" made to the British national life by Indians and particularly Punjabis by creating jobs and wealth.
Describing India as a "growing hub for high technology", McFadden said there has been a steady economic growth. He noted that more newspapers were sold in India than anywhere in the world. He also pointed that as many as 74 Bollywood films were released in the UK last year. Referring to the growing education and trade links between the UK and India, he said the two countries were creating a new partnership in the 21st century, both on equal footing.
LONDON: An organisation representing Punjabis here has launched an India Education Fund with a Rs 8.71 lakh corpus to help economically weak students from the community pursue higher studies in British Universities.
The Global President of World Punjabi Organisation (WPO) Vikramjit Singh Sahney said bright Punjabi students would benefit from the 10,000 pounds fund (Rs 8.71 lakh approx) A cheque for 2,500 pounds towards the scholarship was handed over to Sandra Hollis, Director, University of East London at the annual function of the organisation yesterday.
WPO would give five scholarships every year. Sahney also announced a donation of 500 pounds for a new library at the University of East London. R S Baxi, President of the WPO, European Division said a Punjab House would be established here shortly to promote Punjabi language, folk dance, art and culture of Punjab.
Addressing the annual function, Pat McFadden, MP, Minister of State, Cabinet Office, acknowledged the "tremendous contribution" made to the British national life by Indians and particularly Punjabis by creating jobs and wealth.
Describing India as a "growing hub for high technology", McFadden said there has been a steady economic growth. He noted that more newspapers were sold in India than anywhere in the world. He also pointed that as many as 74 Bollywood films were released in the UK last year. Referring to the growing education and trade links between the UK and India, he said the two countries were creating a new partnership in the 21st century, both on equal footing.
Saturday, September 23, 2006
Global alliances high on IMT agenda
The 25-year-old Institute of Management Technology, Ghaziabad, has made its presence felt in management education.
International collaborations with world class Business schools across the globe is high on IMT agenda. IMT has already entered into collaborative arrangements for students and faculty exchange, research, etc., with some universities in Europe, the US, China and South East Asian countries. IMT is planning to increase our faculty strength to 70, which will not only contribute to quality inputs in the classrooms but also generate the necessary threshold for quality research and management development programmes (MDPs). IMT wants to focus on innovative MDPs besides quality and innovative teaching. Organising international conferences and building a strong industry interface are some of the other priority areas.
The 25-year-old Institute of Management Technology, Ghaziabad, has made its presence felt in management education.
International collaborations with world class Business schools across the globe is high on IMT agenda. IMT has already entered into collaborative arrangements for students and faculty exchange, research, etc., with some universities in Europe, the US, China and South East Asian countries. IMT is planning to increase our faculty strength to 70, which will not only contribute to quality inputs in the classrooms but also generate the necessary threshold for quality research and management development programmes (MDPs). IMT wants to focus on innovative MDPs besides quality and innovative teaching. Organising international conferences and building a strong industry interface are some of the other priority areas.
IMIS maintains full placement record
The Bhubaneswar-based Institute of Management and Information Science (IMIS) conferred diplomas on its management graduates at its tenth convocation held at its campus recently.
The chief guest of the evening, K.C. Chakraborty, chairman and managing director (CMD) of Indian Bank, gave away the gold medals for the toppers in Business Management, Finance and Control, and Service Management programmes.
Student and faculty exchange programmes with the South-East Asian Universities, and research-oriented programmes for management faculty are also in the future agenda of the institute. K K Beuria, Advisor, IMIS, introduced the guests on the dais. The Director of IMIS, K C Padhy, proposed the vote of thanks. IMIS is ranked fifth in eastern region and 46th in All India B-school ranking, published in the September issue of a national magazine.
IMIS is also ranked under Category 'A' B-school in India with 95 points in Admission & Placements" published in the Indian Management Journal September 2005 issue.
IMIS offers Post Graduate programme in Business Management as core programme since its inception.
In 2004, it introduced specialist programmes on Finance and Control and also Services Management to cater to industry needs.
Its students have got placements in many companies of repute like Hindustan Lever, Heinz India, Philips India, Magma Leasing, Sika India, HSBC, Asian Paints, MSA, Perfetti, Gujrat Ambuja Cement, Whirlpool, ITC, Cavinkare, PIAGGIO, Bajaj Allianz, Centurion Bank of Punjab, Indusind Bank, VST Industries, TATA AIG, India Bulls, Goodlass Nerolac, Reliance Insurance, Deccan Chronicle and Coromandel Fertilisers.
The Bhubaneswar-based Institute of Management and Information Science (IMIS) conferred diplomas on its management graduates at its tenth convocation held at its campus recently.
The chief guest of the evening, K.C. Chakraborty, chairman and managing director (CMD) of Indian Bank, gave away the gold medals for the toppers in Business Management, Finance and Control, and Service Management programmes.
Student and faculty exchange programmes with the South-East Asian Universities, and research-oriented programmes for management faculty are also in the future agenda of the institute. K K Beuria, Advisor, IMIS, introduced the guests on the dais. The Director of IMIS, K C Padhy, proposed the vote of thanks. IMIS is ranked fifth in eastern region and 46th in All India B-school ranking, published in the September issue of a national magazine.
IMIS is also ranked under Category 'A' B-school in India with 95 points in Admission & Placements" published in the Indian Management Journal September 2005 issue.
IMIS offers Post Graduate programme in Business Management as core programme since its inception.
In 2004, it introduced specialist programmes on Finance and Control and also Services Management to cater to industry needs.
Its students have got placements in many companies of repute like Hindustan Lever, Heinz India, Philips India, Magma Leasing, Sika India, HSBC, Asian Paints, MSA, Perfetti, Gujrat Ambuja Cement, Whirlpool, ITC, Cavinkare, PIAGGIO, Bajaj Allianz, Centurion Bank of Punjab, Indusind Bank, VST Industries, TATA AIG, India Bulls, Goodlass Nerolac, Reliance Insurance, Deccan Chronicle and Coromandel Fertilisers.
Harsha Bhogle`s brush with IIM-Ahmedabad
After Union Railway Minister Lalu Yadav, it will be the turn of charsimatic cricket commentator and IIM-A alumnus Harsha Bhogle to interact with the students of IIM-A on October 28 and 29.
The ace sports guru is all set to conduct a workshop on leadership and team- building qualities with sports personalities as a case study in the IIM-A campus. Captain G R Gopinath, MD, Air Deccan, would also be roped in around the same time for lectures on the subject.
Bhogle’s workshop would be attended by 60 students of PGPX, the programme for executives. The first day of the workshop would see Bhogle discussing case studies on sports personalities from India and abroad.
Bhogle’s opinion and first- hand account of the Greg Chappel-Sourav Ganguly spat is expected to be the highlight of the day. He would also be putting forth caselets at the end of the day to students to be discussed the next day.
The second day would consist of reviews from students on the caselets and their evaluation of leadership and team-building.
“The central theme of the workshop would centre on the need to adopt certain personality traits in leadership and team-building that no professional can afford to ignore,” said Prof G Raghuram, chairperson, PGPX.
Bhogle has been quite successful in his interactions with corporates on leadership and team-building modules and there is no doubt that it will be the same with management students for whom this is a critical component of learning, he added.
Captain G R Gopinath would speak on leadership and team-building and is expected to present examples from the corporate world as well as his own experiences in the industry.
IIM-A is also planning an e-governance workshop for students which would also take place before November this year.
After Union Railway Minister Lalu Yadav, it will be the turn of charsimatic cricket commentator and IIM-A alumnus Harsha Bhogle to interact with the students of IIM-A on October 28 and 29.
The ace sports guru is all set to conduct a workshop on leadership and team- building qualities with sports personalities as a case study in the IIM-A campus. Captain G R Gopinath, MD, Air Deccan, would also be roped in around the same time for lectures on the subject.
Bhogle’s workshop would be attended by 60 students of PGPX, the programme for executives. The first day of the workshop would see Bhogle discussing case studies on sports personalities from India and abroad.
Bhogle’s opinion and first- hand account of the Greg Chappel-Sourav Ganguly spat is expected to be the highlight of the day. He would also be putting forth caselets at the end of the day to students to be discussed the next day.
The second day would consist of reviews from students on the caselets and their evaluation of leadership and team-building.
“The central theme of the workshop would centre on the need to adopt certain personality traits in leadership and team-building that no professional can afford to ignore,” said Prof G Raghuram, chairperson, PGPX.
Bhogle has been quite successful in his interactions with corporates on leadership and team-building modules and there is no doubt that it will be the same with management students for whom this is a critical component of learning, he added.
Captain G R Gopinath would speak on leadership and team-building and is expected to present examples from the corporate world as well as his own experiences in the industry.
IIM-A is also planning an e-governance workshop for students which would also take place before November this year.
MRTPC asks S P Jain to refund fees to student
Monopolies and Restrictive Trade Practices Commission(MRTPC) has told S P Jain Institute of Management and Research(SPJIMR) to return Rs 1.4 lakh to an applicant who later took admission in IIM-Lucknow.
The commission held that the scheme of changing from an institution to the other by a student was "inherent to the entire system"."
We found that SPJIMR has indulged in unfair trade practices and also brought about additional cost on the applicant by forfeiting the entire amount," M M Sardana, acting chairman, MRTPC said."
It (the institute) is not expected to make undue gains particularly in a situation where the system allows the candidate to change their institution before the commencement of the course," Sardana added.
MRTPC has asked the institute to refund Rs 1.4 lakhs to the applicant, Varun Gupta within six weeks.
Gupta had appeared in the Common Admission Test for management institutes in 2002. On the basis of his score, SPJIMR sent an admission letter in April 2002.
The institute had mentioned that Gupta would have to deposit a non-refundable sum of Rs 1.4 lakh.
As per instructions, Gupta took admission by submitting Rs 1.4 lakh. Later, he got a confirmed call from IIM Lucknow and took admission there. He also informed SPJIMR and sought refund, but SPJIMR refused to return the fees paid as per the terms of admission, forcing the candidate to approach MRTPC.
Monopolies and Restrictive Trade Practices Commission(MRTPC) has told S P Jain Institute of Management and Research(SPJIMR) to return Rs 1.4 lakh to an applicant who later took admission in IIM-Lucknow.
The commission held that the scheme of changing from an institution to the other by a student was "inherent to the entire system"."
We found that SPJIMR has indulged in unfair trade practices and also brought about additional cost on the applicant by forfeiting the entire amount," M M Sardana, acting chairman, MRTPC said."
It (the institute) is not expected to make undue gains particularly in a situation where the system allows the candidate to change their institution before the commencement of the course," Sardana added.
MRTPC has asked the institute to refund Rs 1.4 lakhs to the applicant, Varun Gupta within six weeks.
Gupta had appeared in the Common Admission Test for management institutes in 2002. On the basis of his score, SPJIMR sent an admission letter in April 2002.
The institute had mentioned that Gupta would have to deposit a non-refundable sum of Rs 1.4 lakh.
As per instructions, Gupta took admission by submitting Rs 1.4 lakh. Later, he got a confirmed call from IIM Lucknow and took admission there. He also informed SPJIMR and sought refund, but SPJIMR refused to return the fees paid as per the terms of admission, forcing the candidate to approach MRTPC.
Laalu Yadav at IIM-A
It is suddenly destination railways over fat packages on foreign soil for students of the executive programme at IIM-A. Such was the effect of Railway Minister Lalu Prasad lecture on them that most of them now harbour hopes of working with the railways or at least doing an internship with it in the near future.
The minister’s visit had been the talking point in the city for the last few days and most of the students were curious to learn about the strategy used for the railways’ turnaround from the inimitable Prasad.
Apparently, they weren’t disappointed as the minister talked of the constraints the organisation faced at every step and the rationale he adopted to deal with them.
“The best part of the lecture was that the minister gave personal inputs all the time. He compared his railway experience to that of milking a cow and talked of how home truths and not complicated strategies were required to manage a complex organisation like the Railways,” said Arvind Chandrashekhar, a student of executive MBA programme.
The students had prepared four presentations on: The Indian Railways at the crossroads in May 2004 — What would the students have done if they were Lalu Prasad, and whether the past two years had really seen a turnaround?
What were the financial and non-financial determinants, what were the lessons from the implementation process and implications of the initiative of increasing the axle load and what were the overall strategies and processes driving the railways’ performances in the past two years.
The presentations also focused on what needed to be done to make the new strategies sustainable and the lessons to be derived from Prasad’s leadership.
It is suddenly destination railways over fat packages on foreign soil for students of the executive programme at IIM-A. Such was the effect of Railway Minister Lalu Prasad lecture on them that most of them now harbour hopes of working with the railways or at least doing an internship with it in the near future.
The minister’s visit had been the talking point in the city for the last few days and most of the students were curious to learn about the strategy used for the railways’ turnaround from the inimitable Prasad.
Apparently, they weren’t disappointed as the minister talked of the constraints the organisation faced at every step and the rationale he adopted to deal with them.
“The best part of the lecture was that the minister gave personal inputs all the time. He compared his railway experience to that of milking a cow and talked of how home truths and not complicated strategies were required to manage a complex organisation like the Railways,” said Arvind Chandrashekhar, a student of executive MBA programme.
The students had prepared four presentations on: The Indian Railways at the crossroads in May 2004 — What would the students have done if they were Lalu Prasad, and whether the past two years had really seen a turnaround?
What were the financial and non-financial determinants, what were the lessons from the implementation process and implications of the initiative of increasing the axle load and what were the overall strategies and processes driving the railways’ performances in the past two years.
The presentations also focused on what needed to be done to make the new strategies sustainable and the lessons to be derived from Prasad’s leadership.
Over 100 international academic tieups
Aiming at better foreign placements and international rankings, Indian B-schools are racing for international partnerships.
Over 100 international academic tie-ups have taken place in a span of just one year. For instance, the Indian Institute of Foreign Trade (IIFT) has had three international academic tie-ups; Institute for Management and Technology (IMT), Ghaziabad, too has had six collaborations and Xavier’s Institute of Management (XIM), Bhubaneshwar, has had 10 academic associations. IIM Ahmedabad so far has had 45 tie-ups with international academic institutions.
Last year too, there were a number of tie-ups. A report released by National Institute of Educational Planning and Administration (NIEPA) India, notes that in 2005 alone, 31 UK universities, 18 institutions from the US, two from Australia, six from France and four Canadian universities joined hands with Indian universities and colleges across the country.
Though the figures of such tie-ups have gone up considerably, there is no official body in India which keeps an account of such collaborations.
According to an August 2004 report by NIEPA on foreign education providers, there are 131 colleges across India which have had foreign institutional collaborations.
Maharashtra has had more international institutes approaching it for hotel management courses while Delhi ranks highest in academic collaborations for business management courses.
These associations happen either through franchise programmes, joint collaboration or twinning arrangements where institutes get into joint research or student and faculty exchange programmes. None of the foreign institutes, however, have set-up branches in India.
That these arrangements help in academic development of the institute is a well-known fact. But it also helps the institutes attract a good global placement opportunity from the corporates.
Says Munish Bhargava, chairman placement, IIFT, “These tie-ups increase our global visibility. MNCs are looking at India as a foothold for international talent and thus they look at the Indian education system, in particular the B-school. Such tie-ups refurbish their belief in the b-schools and help them offer better jobs.”
B S Sahay, Director, IMT Ghaziabad, concurs: “Such collaborations are able to provide a cross-cultural environment of learning to students. There are group dynamics that one learns well through these collaborations.”
These academic collaborations have also been beneficial for the universities to recover their cost of education. Public universities in India, have traditionally recovered around 25 per cent of the cost of education but tuition costs have also been on the rise.
On an average, students who pursue foreign degrees in India pay around $4,505 per annum. The tie-up story is, however, not limited only to B-schools in India.
There are a host of local colleges in the country which have joined hands with foreign institutions and have several such opportunities in the pipeline.
With 17,973 institutions (348 universities and 17625 colleges), India is the largest higher education system in the world. There are 10 million students and 0.5 million teachers in India.
However, in terms of enrolment, India is the third largest after China and the US. Given these numbers, it little wonder that the tie-ups are coming thick and fast.
Aiming at better foreign placements and international rankings, Indian B-schools are racing for international partnerships.
Over 100 international academic tie-ups have taken place in a span of just one year. For instance, the Indian Institute of Foreign Trade (IIFT) has had three international academic tie-ups; Institute for Management and Technology (IMT), Ghaziabad, too has had six collaborations and Xavier’s Institute of Management (XIM), Bhubaneshwar, has had 10 academic associations. IIM Ahmedabad so far has had 45 tie-ups with international academic institutions.
Last year too, there were a number of tie-ups. A report released by National Institute of Educational Planning and Administration (NIEPA) India, notes that in 2005 alone, 31 UK universities, 18 institutions from the US, two from Australia, six from France and four Canadian universities joined hands with Indian universities and colleges across the country.
Though the figures of such tie-ups have gone up considerably, there is no official body in India which keeps an account of such collaborations.
According to an August 2004 report by NIEPA on foreign education providers, there are 131 colleges across India which have had foreign institutional collaborations.
Maharashtra has had more international institutes approaching it for hotel management courses while Delhi ranks highest in academic collaborations for business management courses.
These associations happen either through franchise programmes, joint collaboration or twinning arrangements where institutes get into joint research or student and faculty exchange programmes. None of the foreign institutes, however, have set-up branches in India.
That these arrangements help in academic development of the institute is a well-known fact. But it also helps the institutes attract a good global placement opportunity from the corporates.
Says Munish Bhargava, chairman placement, IIFT, “These tie-ups increase our global visibility. MNCs are looking at India as a foothold for international talent and thus they look at the Indian education system, in particular the B-school. Such tie-ups refurbish their belief in the b-schools and help them offer better jobs.”
B S Sahay, Director, IMT Ghaziabad, concurs: “Such collaborations are able to provide a cross-cultural environment of learning to students. There are group dynamics that one learns well through these collaborations.”
These academic collaborations have also been beneficial for the universities to recover their cost of education. Public universities in India, have traditionally recovered around 25 per cent of the cost of education but tuition costs have also been on the rise.
On an average, students who pursue foreign degrees in India pay around $4,505 per annum. The tie-up story is, however, not limited only to B-schools in India.
There are a host of local colleges in the country which have joined hands with foreign institutions and have several such opportunities in the pipeline.
With 17,973 institutions (348 universities and 17625 colleges), India is the largest higher education system in the world. There are 10 million students and 0.5 million teachers in India.
However, in terms of enrolment, India is the third largest after China and the US. Given these numbers, it little wonder that the tie-ups are coming thick and fast.
2 Indians among the richest Americans
Indian-Americans are not only climbing the corporate ladder but also taking the elevator to the richie rich club, leaving behind many US corporate moguls, including those from Starbucks, eBay and Motorola. Google Inc founder-director Kavitark Ram Shriram and Bose Corporation chairman Amar Gopal Bose have moved up the rankings in the Forbes list of 400 richest Americans.
Accoustics pioneer Mr Bose and tech wizard Mr Shriram are tied at the 242nd position in the list, ahead of Margaret C Whitman, president and CEO of eBay Inc; Howard S Schultz, chairman of Starbucks and Hilton Hotel chairman William Barron Hilton. Mr Bose and Mr Shriram, who are now US citizens and worth $1.5 billion each, have beaten Rober William Galvin of Motorola, Robert Drayton McLane Jr of Wal-Mart and Roy Edward Disney of Walt Disney
While Mr Shriram had entered the list at 258 in 2005, for Mr Bose (ranked 283 in 2005) it is the fifth year in a row on the Forbes 400 list. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
While Mr Shriram had entered the list at 258 in 2005, for Mr Bose (ranked 283 in 2005) it is the fifth year in a row on the Forbes 400 list. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
Forbes said that billions of dollars accumulated by Mr Shriram, a founding board member of Google, are either self-made or are from technology business. Mr Shriram, 50, was born and did schooling in Madras, now Chennai, and currently lives in California. He grabbed the limelight first with creation of shopping software solution Junglee, which he later sold to Amazon in 1998.
Google Inc founder-director Kavitark Ram Shriram and Bose Corporation chairman Amar Gopal Bose have moved up the rankings in the Forbes list of 400 richest Americans. Mr Bose and Mr Shriram, who are now US citizens and worth $1.5 billion each, have beaten Rober William Galvin of Motorola, Robert Drayton McLane Jr of Wal-Mart and Roy Edward Disney of Walt Disney. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
Indian-Americans are not only climbing the corporate ladder but also taking the elevator to the richie rich club, leaving behind many US corporate moguls, including those from Starbucks, eBay and Motorola. Google Inc founder-director Kavitark Ram Shriram and Bose Corporation chairman Amar Gopal Bose have moved up the rankings in the Forbes list of 400 richest Americans.
Accoustics pioneer Mr Bose and tech wizard Mr Shriram are tied at the 242nd position in the list, ahead of Margaret C Whitman, president and CEO of eBay Inc; Howard S Schultz, chairman of Starbucks and Hilton Hotel chairman William Barron Hilton. Mr Bose and Mr Shriram, who are now US citizens and worth $1.5 billion each, have beaten Rober William Galvin of Motorola, Robert Drayton McLane Jr of Wal-Mart and Roy Edward Disney of Walt Disney
While Mr Shriram had entered the list at 258 in 2005, for Mr Bose (ranked 283 in 2005) it is the fifth year in a row on the Forbes 400 list. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
While Mr Shriram had entered the list at 258 in 2005, for Mr Bose (ranked 283 in 2005) it is the fifth year in a row on the Forbes 400 list. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
Forbes said that billions of dollars accumulated by Mr Shriram, a founding board member of Google, are either self-made or are from technology business. Mr Shriram, 50, was born and did schooling in Madras, now Chennai, and currently lives in California. He grabbed the limelight first with creation of shopping software solution Junglee, which he later sold to Amazon in 1998.
Google Inc founder-director Kavitark Ram Shriram and Bose Corporation chairman Amar Gopal Bose have moved up the rankings in the Forbes list of 400 richest Americans. Mr Bose and Mr Shriram, who are now US citizens and worth $1.5 billion each, have beaten Rober William Galvin of Motorola, Robert Drayton McLane Jr of Wal-Mart and Roy Edward Disney of Walt Disney. The net worth of Mr Shriram and Mr Bose have grown to $1.5 billion each from $1.3 billion and $1.2 billion, respectively, last year.
BPO exec sells self, citizens to Dawood
23-Sep-2006
The pesky call centre employee trying to sell you a credit card or mobile phone has suddenly acquired more sinister dimensions: S/he could well be misusing the personal information. A 25-year-old call centre employee from a BPO in Tardeo did just that recently, passing on the personal profiles of customers to members of the Dawood Ibrahim gang.
On Friday, Mumbai crime branch arrested the executive, Hasan, for allegedly pilfering confidential personal information of mobile phone customers and passing it on to Dawood aide Fahim Machmach, who runs an extortion racket from Karachi.
Deputy police commissioner (crime) Dhananjay Kamlakar said the involvement of a call centre executive in an underworld extortion racket was a serious indicator of how the personal data of lakhs of customers of mobile phone and credit card companies was at ‘‘grave risk’’.
DCP (crime) Dhananjay Kamlakar said police will now put BPOs under their scanner. BPO heads will be asked to step up internal vigilance and verify the bonafides of employees before providing them with access to sensitive information. Hasan’s modus operandi was to provide the residential and office addresses of mobile phone customers to the Machmach gang at a fee of Rs 20,000 per address. ‘
‘Machmach would give his cronies Iqbal, Mustaq and Salim Babu Qureshi the phone number for extortion,’’ said Kamlakar. ‘‘They would give Hasan the number and he would ferret out the data of the customer, who would then route them to Machmach.’’ Machmach would then call up his victims, who were surprised when the Karachi-based gangster rattled off information about them. ‘‘Machmach also posted his henchmen outside the residence and offices of victims to study their daily schedule,’’ Kamlakar said. Four such prominent businessmen (names not disclosed) from south Mumbai were threatened and asked to pay up amounts ranging between Rs 50 lakh and Rs 1 crore.
Acting on a complaint by one of the businessmen, the anti-extortion team laid a trap and arrested Salim, Mustaq and Iqbal. The last two are next-door neighbours of Machmach in Pathanwadi in Dongri. While Salim was earlier apprehended in Delhi, Mustaq has ten cases against him in the JJ, Pydhonie and Dongri areas and Iqbal is wanted in four serious offences. The three were on a monthly payroll of Rs 5,000 in the D-company, besides the incentives after every operation, the police said.
23-Sep-2006
The pesky call centre employee trying to sell you a credit card or mobile phone has suddenly acquired more sinister dimensions: S/he could well be misusing the personal information. A 25-year-old call centre employee from a BPO in Tardeo did just that recently, passing on the personal profiles of customers to members of the Dawood Ibrahim gang.
On Friday, Mumbai crime branch arrested the executive, Hasan, for allegedly pilfering confidential personal information of mobile phone customers and passing it on to Dawood aide Fahim Machmach, who runs an extortion racket from Karachi.
Deputy police commissioner (crime) Dhananjay Kamlakar said the involvement of a call centre executive in an underworld extortion racket was a serious indicator of how the personal data of lakhs of customers of mobile phone and credit card companies was at ‘‘grave risk’’.
DCP (crime) Dhananjay Kamlakar said police will now put BPOs under their scanner. BPO heads will be asked to step up internal vigilance and verify the bonafides of employees before providing them with access to sensitive information. Hasan’s modus operandi was to provide the residential and office addresses of mobile phone customers to the Machmach gang at a fee of Rs 20,000 per address. ‘
‘Machmach would give his cronies Iqbal, Mustaq and Salim Babu Qureshi the phone number for extortion,’’ said Kamlakar. ‘‘They would give Hasan the number and he would ferret out the data of the customer, who would then route them to Machmach.’’ Machmach would then call up his victims, who were surprised when the Karachi-based gangster rattled off information about them. ‘‘Machmach also posted his henchmen outside the residence and offices of victims to study their daily schedule,’’ Kamlakar said. Four such prominent businessmen (names not disclosed) from south Mumbai were threatened and asked to pay up amounts ranging between Rs 50 lakh and Rs 1 crore.
Acting on a complaint by one of the businessmen, the anti-extortion team laid a trap and arrested Salim, Mustaq and Iqbal. The last two are next-door neighbours of Machmach in Pathanwadi in Dongri. While Salim was earlier apprehended in Delhi, Mustaq has ten cases against him in the JJ, Pydhonie and Dongri areas and Iqbal is wanted in four serious offences. The three were on a monthly payroll of Rs 5,000 in the D-company, besides the incentives after every operation, the police said.
XLRI looks to tie up with foreign Universities
XLRI Jamshedpur has initialised talks with Australia’s Victoria University and the Shanghai University to forge educational partnerships. While the former tie-up is expected to fall into place by January, the latter is likely to be finalised by October. Father N Casimir Raj, SJ, director, XLRI, told ET, “The Shanghai University has shown keenness to tie up with us, especially for our input in the areas of research and HR. They, on their part, are strong in production, which we hope to benefit from.”
Father Raj indicated that the partnership with the Victoria University would be at different levels, though exact modalities are yet to be finalised. Victoria University has over a hundred academic exchange agreements with overseas institutes.
“Many companies want us to conduct courses for their employees, especially in terms of global management programmes, and Victoria University and XLRI will be collaborating in this regard. We are trying to work out the possibilities of these students getting industry exposure in both the countries,” said the director.
As of now, XLRI has existing tie-ups with the Asian Institute of Management, Manila, Malarden University, Sweden and the Asian University, Bangkok. “We hope to benefit from more such tie-ups in the future,” said Father Raj.
In fact, such educational partnerships with overseas institutes have by now become par for the course at most of India’s leading B-schools, in particular the IIMs.
The faculty and student exchanges, field trips and internships overseas facilitated through these tie-ups give students the required exposure to forge international careers, and even get first-hand global perspective.
XLRI Jamshedpur has initialised talks with Australia’s Victoria University and the Shanghai University to forge educational partnerships. While the former tie-up is expected to fall into place by January, the latter is likely to be finalised by October. Father N Casimir Raj, SJ, director, XLRI, told ET, “The Shanghai University has shown keenness to tie up with us, especially for our input in the areas of research and HR. They, on their part, are strong in production, which we hope to benefit from.”
Father Raj indicated that the partnership with the Victoria University would be at different levels, though exact modalities are yet to be finalised. Victoria University has over a hundred academic exchange agreements with overseas institutes.
“Many companies want us to conduct courses for their employees, especially in terms of global management programmes, and Victoria University and XLRI will be collaborating in this regard. We are trying to work out the possibilities of these students getting industry exposure in both the countries,” said the director.
As of now, XLRI has existing tie-ups with the Asian Institute of Management, Manila, Malarden University, Sweden and the Asian University, Bangkok. “We hope to benefit from more such tie-ups in the future,” said Father Raj.
In fact, such educational partnerships with overseas institutes have by now become par for the course at most of India’s leading B-schools, in particular the IIMs.
The faculty and student exchanges, field trips and internships overseas facilitated through these tie-ups give students the required exposure to forge international careers, and even get first-hand global perspective.
