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The Vision The Mission
To be an Institute of Academic Excellence known for Our mission is to groom professionals of tomorrow by
total commitment to superiority in management and • Imparting high quality education in Management and
IT education and research with a holistic concern for Information Technology
quality of life, environment, society and ethics. • Developing intellectual capabilities through a challenging
curriculum
• Providing training and development services
• Fostering research
• Extending consultancy services to the industry
• Disseminating information through the publication of
books, journals and magazines
From the
Advisor’s Desk
Patron
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S eeking knowledge is the nature of
man since God has endowed him
with the power to think and the desire
the suggestions and constructive
criticism for bringing out some rational
innovations both personally &
Prof. R.P. Maheswari ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○
to explore.From time immemorial, man nationally.
has been curious about his surroundings,
The critical reviews, news and
which has led him on a long journey-
experiences of youth are collectively an
the quest for knowledge, through which
honest attempt to reflect their sensitively
he came across many milestones but not
towards the changing items &
Advisors the destination as yet. This quest for
inspiration of confidence and hope.
knowledge has led him to an
Their determination and response to the
Prof. Nitin Seth unfathomable ocean of knowledge –
more exacting needs of the changing
The Eldorado.
times.
Prof. Brij Mohan Man’s quest to know the unknown and
We are delighted to present before you
fathom the uncharted territories has been
Ms. Preeti Batra this issue of Eldorado – A tribute to the
the guiding spirit that has shaped his
spirit of human race, a humble effort to
destiny over the ages. He continues to
recall the greatness of the power and
be overwhelmed by his experiences. In
desires endowed by God to us. It has
modern times, the thrills and excitement
been our endeavour to gather and
of new knowledge are almost intently
disseminate new ideas and views which
felt and absorbed by people around the
Editorial Team world. The credit goes largely to the are generated in the young minds of
future managers, using Eldorado as a
print and electronic media. The
Nitin Gupta (PGDBM-2004-06) platform.
magazines play a vital role in educating
Surbhi Kansal the masses and imparting a new Eldorado-the outcome of intense
temperament to the society. Thus our scrutiny and curious search for the best
Swati Mahajan Institute is no way indifferent to its thoughts, and proud to announce that
responsibilities. This issue of Eldorado now Eldorado has become a semi-
Swaraj Pal Sehgal in your hands bears testimony to that. It annual magazine. Our readers, who
has come up as a mature and responsible supported us to achieve this success.
Reeti Bora medium of gathering and truthfully deserve our best compliments.
disseminating knowledge and generated
We feel great pleasure in expressing
Gunjan Upadhyay at young minds of future managers.
our deepest thanks and gratitude to
With efforts from the students and Prof. R.P. Maheshwari for his great
Ashish Raut
support from the teachers and the encouragement and appreciation. We
management, Eldorado has been express our cordial thanks to Prof. C.P.
transformed into a visual delight and a Bhatia for valuable guidance,
very rewarding and satisfying reading constructive criticism and keen interest
experience. While revealing better at every step. We also thank Prof. S.K.
knowledge & understanding about the Singh for their support and
Special thanks management world, it witnesses the encouragement.
emergence of new talents and writing
Prof. C.P. Bhatia for his help We would also like to thank Prof. Satya
skills of students driving the
in English Section Acharya and Mr. Akshay for providing
management arena to the new depths
facilities required for carrying out the
and exciting corners. The canvas of its
task.
coverage is enormous with topics
ranging from important discussions on
India’s position in the global market, its
changing face and the current needs to
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Students’ Section
Eldorado
Sea of knowledge
(2005 - 2006)
Financial and
Banking Sector Reforms
The Banking System
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ANUJ SHARMA
PGDBM Ist Yr., B
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A mong the banking institutions in
the organized sector, the
commercial banks are the oldest, which Almost 80% of the business is still
controlled by Public Sector Banks
are having a wide network of branches,
(PSBs). PSBs are still dominating the
commanding utmost public confidence
commercial banking system. Shares of
and having the lion’s share in the total
the leading PSBs are already listed on
banking operations. Today 27 banks
the stock exchanges.
constitute the strong public sector in
In the last decade, Indian commercial banking. The RBI has given licences to new
private sector banks as part of the
Private Sector The last decade witnessed the maturity
liberalisation process. Many banks are
of India’s financial markets. Since 1991,
Institutions played an governments of India took major steps
successfully running in the retail and
consumer segments but are yet to deliver
important role. They in reforming the financial sector of the
services to industrial finance, retail
grew rapidly in country. The important achievements in
trade, small business and agricultural
the following fields are discussed under
commercial banking different heads:
finance.
and asset management
Development Finance
business. Financial Markets
Institutions
In the last decade, Private Sector
Institutions played an important role. Finance Institutions access to SLR funds
They grew rapidly in commercial has been reduced. Now they have to
banking and asset management approach the capital market for debt and
business. With the openings in the equity funds.
insurance sector for these institutions, Convertibility clause is no longer
they started making debt in the market. obligatory for assistance to corporate
Competition among financial sanctioned by term-lending institutions.
intermediaries gradually helped the Capital adequacy norms has been
interest rates to decline. Deregulation extended to financial institutions.
added to it. The real interest rate was
maintained. Non-Banking Finance Companies
In the case of new NBFCs seeking
Regulators registration with the RBI, the
requirement of minimum net owned
The Finance Ministry continuously funds, has been raised to Rs.2 crores.
formulated major policies in the field
of financial sector of the country. The
Government accepted the important role The Capital Market
of regulators. The Reserve Bank of The number of shareholders in India is
India (RBI) has become more estimated at 25 million. However, only
independent. Securities and Exchange an estimated two lakh persons actively
Board of India (SEBI) and the Insurance trade in stocks. There has been a
Regulatory and Development Authority dramatic improvement in the country’s
(IRDA) became important institutions. stock market trading infrastructure
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during the last few years. Expectations SEBI reconstituted governing boards of
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are that India will be an attractive the stock exchanges, introduced capital
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emerging market with tremendous adequacy norms for brokers, and made
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potential. Unfortunately, during recent rules for making client or broker
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times the stock markets have been relationship more transparent which
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constrained by some unsavory included separation of client and broker
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developments, which have led to retail accounts.
investors deserting the stock markets.
Buy back of shares is also now allowed
Mutual Funds
Consolidation Imperative
The mutual funds industry is now
Another aspect of the financial sector
regulated under the SEBI (Mutual
reforms in India is the consolidation of
Funds) Regulations, 1996 and
existing institutions which is especially
amendments thereto. With the issuance
of SEBI guidelines, the industry had a applicable to the commercial banks. In
framework for the establishment of India the banks in large number. First,
there is no need of 27 PSBs with
many more players, both Indian and
branches all over India. A number of
foreign.
The Unit Trust of India them can be merged. The merger of
remains the biggest The Unit Trust of India remains the Punjab National Bank and New Bank
biggest mutual fund controlling a corpus of India was a difficult one, but the
mutual fund controlling of nearly Rs.70,000 crores, but its share situation is different now. No one
a corpus of nearly is going down. Foreign companies can expected so many employees to take
only enter joint ventures with Indian voluntary retirement from PSBs, which
Rs.70,000 crores companies, with participation restricted at one time were much sought after jobs.
to 26 per cent of equity.
The new players will need to bring in SUM UP: Overall Approach to
innovative products as well as fresh Reforms
ideas on marketing and distribution, in
order to improve the low per capita The last ten years have witnesseed major
insurance coverage. Good regulation improvements in the working of various
financial market participants. The
will, of course, be essential.
government and the regulatory
authorities have followed a step-by-step
Deregulation of Banking System approach, not a big bang one. The entry
of foreign players has assisted in the
Government pre-emption of banks’ introduction of international practices
resources through statutory liquidity
and systems. Technology developments
ratio (SLR) and cash reserve ratio
have improved customer service. Some
(CRR) have been brought down in steps.
gaps however remain (for example: lack
Interest rates on the deposits and lending
of an inter-bank interest rate benchmark,
sides almost entirely are deregulated. an active corporate debt market and a
New private sector banks were allowed developed derivatives market). On the
to promote competition. PSBs were whole, the cumulative effect of the
encouraged to approach the public for developments since 1991 has been quite
raising resources. encouraging.
However, financial liberalisation alone
Private Mutual Funds Permitted will not ensure stable economic growth.
Some tough decisions still need to be
To reduce the cost of issue, underwriting taken. Without fiscal control, financial
by the issuer were made optional, stability cannot be ensured. The fate of
subject to conditions. The practice of
the Fiscal Responsibility Bill remains
making preferential allotment of shares unknown and high fiscal deficits
at prices unrelated to the prevailing continue.
market prices is stopped and fresh
guidelines were issued by SEBI.
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ELDORADO 5
Banking’s Big Bang:
Consolidation
MEENAXI GERA
PGDBM Ist Yr.
Section B
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A lmost all of the 19 public sector
banks are planning to either
acquire or be acquired. While attending
20 Indian. In Asia, only SBI is
among top 25. Even though SBI
offers high average return on
the Indian banks Association’s (IBA) capital, focus is on scale as a
yearly meet in august 2004, the finance parameter to be included in the top
minister, MR. P. Chidambaram list.
delivered a simple but powerful • After adoption of Basell-II norms,
message: CONSOLIDATE. banking sector may witness loss of
Business scenario in
200 basis points i.e. 2% in capital
India is very MEANING: Consolidation is the act of
adequacy. So, they would need to
merging many things into one. In
fragmented. Top 5 business, it often refers to the merger or
entail fresh capital and optimal use
of existing capital which would be
banks control 43% of acquisition of many smaller companies
restricted by Govt. policy of 51%
assets, while 80 banks into much larger ones.
stake in banks. So,
CONSOLIDATION.
account for just 2% of NEED FOR
market assets. CONSOLIDATION: POSSIBLE WAYS TO THE
• Business scenario in India is very
ROAD TO SUCCESS:-
fragmented. Top 5 banks control
43% of assets, while 80 banks If consolidation is to be done, first move
account for just 2% of market should be to merge strong banks with
assets. midsized banks because merging a
• Net interest margins getting thinner, strong one with a weak bank like,
Need for low cost & sophisticated merging a bank with Rs. 80,000 crore
technology. base with Rs. 30,000 crore bank would
• Despite having more branches, create size without strength and merging
customers and market one weak bank with another weak one
capitalization; capital of Indian is, however, out of question.
banks is low as compared to their
foreign counterparts. HURDLES WHICH MIGHT
E.g.:- State Bank of India having 14,000 COME IN THE WAY OF
branches and 100 million customers has CONSOLIDATION:-
Mkt. capitalization of $7.75 b and • Govt. says, move for consolidation
Capital worth $ 6.7 b (app.) while Citi must come from banks, “driven by
Bank has Mkt. cap of $ 250 b and capital boards and supported by offices
of $ 67 b. and based upon operational
• Presence of Indian banks is not felt synergy. But banks actually may not
at global arena. Banker’s list of top be willing to merge because in case
1000 banks in the world has only of merger of two banks, only one
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will head the merged entity, other SINGAPORE AND KOOKMIN
will lose the job. BANK OF SOUTH KOREA in
• Only 4 independent directors are asset base.
permitted on a board, so in case of • LIC which has 26.7% stake in
merged entity, other 4 might lose CORPORA TION BANK, 6.23% in
the job. OBC and 13.41% in UTI, can bring
• Any merger between public sector these under one umbrella and can
banks can take place under “Bank create a bigger entity.
Nationalization Act”. Deal must be
Coming years would be crucial for
finalized by Govt. & RBI and to be
Indian banking industry as
placed in parliament which may
consolidation alone will give Indian
take a very long time.
banks the muscle, size and scale to act
• Over the past 46 years, 36 banks
like world-class banks. We have to think
and non-banking financial
global and act local, seek new markets
institutions have been merged out
and new classes of borrowers.
of which only 7 were for growth
We have to think global and consolidation.
and act local, and seek Since 1969, except Bank of Bihar with Secrets of Success
new markets and new SBI in 1969 and latest merger of Bank
of Punjab & Centurion Bank, all other To make our way,
classes of borrowers. we must have firm resolve,
were acts of crisis management.
persistence, tenacity.
We must gear ourselves
POSSIBLE MERGERS IN
to work hard all the way.
FUTURE:-
We can never let up.
• Ist merger which is already under
consideration and may come in - Ralph Bunche
effect in April, 2006 is Union Bank
Yesterday is a cancelled check;
and Bank of India.
Tomorrow is a promissory note;
Union Bank & Bank of India Today is the only cash you have,
(merged entity) will have an asset so spend it wisely.
base of 1, 43,175 cr. and will be 2nd
- Kim Lyons
largest bank in India overtaking
ICICI. Success is not measured by what a
man accomplishes, but by the
• SBI can be merged with its 7 banks
opposition he has encountered and
or they can be sold like State Bank
the courage with which he has
of Mysore or State Bank of Indore
maintained the struggle against
can be sold to IDBI. Even if SBI is
overwhelming odds.
merged with its 7 branches, it will
have an asset base of Rs. 5, 49, 257 - Charles Lindbergh
cr. with 13,638 branches.
Success will not lower its standard
• If SBI is merged with either Punjab
to us.
National Bank or Canara Bank or
We must raise our standard to
Bank of Baroda it will have an asset
success.
base of Rs. 6, 51,588 cr. and 17,000
branches. It can overtake .
- Rev. Randall R. McBride, Jr
DEVELOPMENT BANK OF
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ELDORADO 7
Biotechnology:
The Harmony of
Life and Technology
GUNJAN UPADHYAY
PGDBM Ist Yr. ○
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M ost of my friends at my B-school
wonder what biotechnology is all
about. Having done my graduation in
e.g. vaccines, enzymes, insulin etc.
An innovative biotechnology
product is edible vaccine. It is
Section B
biotechnology, I feel a strong urge to available as vegetables or fruits like
explain to them about this subject and potatoes, tomatoes, banana etc.
its various aspects. However, as which on consumption give
compared to a subject expert, I have immunological safety from
little knowledge, biotechnology diseases in the same fashion as the
Biotechnology is an
fascinates me and hence I can try my vaccines like DPT, polio vaccine
applied science. It is best to throw some light on the do. Biotechnology is also a ray of
based on biology, chiefly elementary ideas of it. hope for patients of deadly diseases
like cancer and AIDS. A thorough
botany. Biotechnology is an applied science. It
study of immunology is required for
is based on biology, chiefly botany. We
these researches.
can define biotechnology as: the
2. Consumer Goods: Nowadays,
technological knowledge about
detergents contain enzymes which
biological processes which is used for
are results of biotechnological
human welfare. The basic idea is to
research. These enzymes digest fats
invent methods and technologies to use
and proteins present in the stains
our natural resources in a judicious
and thus clean them. Processed
manner so that both living beings and
foods and food supplements also
environment remain in perfect harmony,
contain biotechnological products.
none is harmed.
For example, Spirulina is a blue-
Biotechnology makes use of sciences green alga which is used as protein
like botany, zoology, immunology, in food supplements.
genetics, biochemistry, cell biology, 3. Genetically Modified Crops:
microbiology, physiology, environ- Crops can be made disease free,
mental studies etc. Mainly it involves their yields and quality can be
techniques like cell fusion, genetic improved by modifying them at
engineering, gene cloning and other genetic level through genetic
cellular techniques i.e. it operates engineering. For example: BT
chiefly at cellular level. Cotton, sugarcane. Even new
species can be developed like
The applications of biotechnology are
Triticale which is a hybrid of
as follows:
Triticum (wheat) and Secale (Rye).
1. Drugs and Pharmaceuticals:
4. Agriculture: Biofertilisers and
Various drugs are improved using
biopesticides are used nowadays in
biotechnology. This increases their
agricultural fields. These are
reliability and reduces side effects,
beneficial not only for crops but
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also for environment as they are Keeping in view all these applications,
biodegradable and do not contain we can conclude that the coming era is
any harmful chemical. the biotechnological era, since it has a
5. Environment: Various wide array of applications in daily life.
biotechnological methods are being Just like IT industry once boomed and
used for sewage treatment, waste bloomed, biotechnology is going to be
disposal and water purification, the next craze. Management and
thus keeping our environment clean marketing of biotechnological products
and green. can be a scoopful option as a career.
6. Criminal Investigation: DNA Nowadays, many institutes have started
Fingerprinting can help in courses like MBA in biotechnology
identification of people and also in management.
determining biological parents in
Now, I am sure we all understand that
disputed parentage.
biotechnology uses nature for human
7. Biofuels: Biodiesel is a fuel
benefits without harming it. Nature has
obtained from a plant called
tremendous potential and biotechnology
Jatropha. It is a clean fuel.
helps us to utilize it to the fullest to
Researchers are trying continuously
support mankind, along with
to develop more biofuels.
maintaining nature’s balance.
8. Biometallurgy: Biotechnological
methods are used to extract metals
from ores, e.g. gold. This includes
microbial action on ores.
When Disaster Strikes
W hen disaster strikes, our world
gets turned upside down.
Questions like: What do I do? Where
waters of the river, life has its
moments of drought and its moments
of flood. Like the ever-changing cycle
should I go? Why is this happening of the seasons, life has the soothing
to me? shake our mental comfort. We warmth of its summers and the
feel fear, anger, confusion and are piercing chill of its winters. But if one
uncertain about our future. will hold on, he will discover that God
walks with him, and that God is able
Have you ever considered that God
to lift you from the fatigue of despair
wants to be involved in your future
to the buoyancy of hope and
good?
transform dark and desolate valleys
Consider what Martin Luther King Jr. into sunlit paths of inner peace.”
had to say,
When disaster strikes God offers us
“Now I say to you in conclusion, life hope and a hope-filled relationship
is hard, at times as hard as crucible with Him.
steel. It has its bleak and difficult
moments. Like the ever-flowing
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ELDORADO 9
This is the
Century of Asia
Oriental Wisdom
MOH. SUHAIL
PGDBM Ist Yr., B ○
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I ndia and china should form the trade
plateform for WTO and beyond.They
have to forge a common front at
Trading partner. The U.S. share in our
total trade has remained at about 13%
between 2001 and 2004, while the share
theWTO.This will lend further strength of U.K. has dipped from 5% to 4% over
to G-21 as a countervailing force to the the same period.
might of the US and European Union.
Given these changing trends through
India and China with 40% of the world 90s, India and China as a joint force can
India and China with population, can push for liberal policies afford to adopt a lump-it-or leave it
40% of the world on immigration and intellectual property approach at W.T.O. While India account
right. Besides, there is every reason for s for just 0.8% of the world’s export,
population, can push for India to cement bilateral trade and China at 6.2% has inched ahead
liberal policies on economic ties with China. India needs FRANCE. The W.T.O. would have to
to reorient its trade policy in view of take cognisanse of these shifts if it is to
immigration and
major shifts in the direction of trade in survive as a credible institution. With
intellectual property the 90s. The U.S. and the E.U. are its multilateral agenda based on a world
right. gradually declining in importance as trade order that is on its way out, it
trade partners. hardly surprising to find Asia and Latin
America entering into regional trade
agreement.
2003-2004 Import Export 1990-91(Import) Export
U.S and E.U. 37.8% 46.4% 54% 53.5%
CHINA 27.6% 27.6% 14% 14.3%
Our trade with China is at $13 billion in India should put its diplomatic energy
2004 or 7-8 % of our total export and behind creating an ASIAN
import, against 3% of our overall trade ECONOMIC UNION. Those who argue
recently as 2001. This does not include that such union would divert rather than
the large chunk of unofficial trade create trade seem to overlook the fact
between two countries. With bilateral that the O.E.C.D. is already losing
trade growing at over 30%, China could ground, or trade creating capacity, to the
replace the U.S. as our largest trading. far east.
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10
Indian Pharmaceutical
Industry
○
KAPIL SINGH THAKUR Key statistics of Indian companies have their strategies in place
○
PGDBM Ist Yr., B Pharmaceutical market to leverage opportunities and
○
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• Annual turnover of Rs. 226 billion. appropriate values existing in
• Growth rate 5.2 %, Exports Rs. formulations, bulk drugs, generics,
141billion. Novel Drug Delivery Systems,
• Future projection of Rs. 1200 Biotechnology, and New Chemical
billion (by McKinsey) by 2010. Entities etc.
• Share of world Pharma market 10%
The industry ranks The industry ranks fourth globally in
in value and 8% in volume terms. terms of volume and in terms of value it
fourth globally in terms • Global ranking is ranked thirteen. The industry has
of volume and in terms 13th in terms of value. thrived so far on reverse engineering
4th in terms of volume.
of value it is ranked skills exploiting the lack of process
• Number of Generic Brands over patent in the country. This has resulted
thirteen. 60000 in 60 therapeutic categories. in the Indian Pharmaceutical Players
• Number of units – 10000 put out offering their products at some of the
of which approximately 300 in lowest prices in the world.
organized sectors.
• OTC market Rs. 35 billion growth The quality of the product is reflected
18-20%. in the fact that India has the highest
• Alternative medicine Herbal/ number of manufacturing plants
Ayurvedic market Rs 38 billion. approved by US FDA (61plants) which
• Per capita drug expenditure Rs 220 is next only to that in the US,
per annum. Multinational companies have
traditionally dominated the industry,
Indian pharmaceutical industry is which is another trend seeing a reversal.
undergoing fast paced changes. The Currently, it is the Indian companies
Indian Generics market is witnessing which are dominating a number of key
rapid growth opening up immense therapeutic segments.The market is also
opportunities for firms. This is further very fragmented with about 30000
triggered by the fact that generics worth entities.
over $ 40billion are going off patent in
the coming few years which is close to Consolidation in the industry is
15% of total prescription market of the increasing with many local players
US. building a global outlook and also
growing inorganically through mergers
The Indian pharmaceutical companies and acquisitions.
have been doing extremely well in
developed market of the US and Europe,
BIO TECHNOLOGY
notable among these being Ranbaxy,
Dr.Reddy’s Labs, Wockhardt, Cipla, India offers some significant
Nicolas Piramal and Lupin. The competitive advantages in the area of
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ELDORADO 11
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Biotechnology such as low cost 3. 70 million middle class market with
technology in clinical trials, R&D huge growth potential.
molecule synthesis and fine chemical
production. Government of India KEY CHARACTERISTICS OF
estimates that over the next five years,
INDIAN PHARMA
possibilities could be created for fresh
1. Self- reliance display by the
investment of US $ 150 million in India
production of 70% of bulk drugs
that hold the promise of changing the
and almost the entire requirement
biotech production scenario – not just
domestically but globally as well. This of formulation within the country.
is an opportunity for the Indian as well 2. Low cost of production and low
as overseas organizations to evaluate R&D costs.
and exploit for investment strategy not 3. Innovative Scientific Manpower.
only as a producer but also as a major 4. Excellent and world class national
developer. laboratories specializing in process
development and development of
cost effective technologies.
UNIQUE ADVANTAGES OF
5. An efficient and cost effective
THE INDIAN MARKET
source for procuring generic drugs
1. Solid legal framework and strong
especially the drugs going for
financial market.
patent in the next few years.
2. Committed to free market economy
and globalization.
Tonic for Thought
Arthur Ashe, the legendary Wimbledon player was dying of AIDS. From world
over, he received letters from his fans, one of which conveyed :
“Why does GOD have to select you The world over — 50 Million
for such a bad disease”? children start playing tennis,
To this Arthur Ashe replied: 5 Million learn to play tennis,
500,000 learn professional tennis,
50,000 come to the circuit,
5000 reach the grand slam,
128 reach Wimbledon,
4 to semi final,
2 to the finals,
When I was holding a cup I never
asked GOD “Why me?”.
And today in pain I should not be
asking GOD “Why me?”—
(Arthur Ashe is the first black to win
Wimbledon )
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12
Insurance
Industry
○
NEHA-GUPTA Nature of the industry: 1. Life insurance
○
PGDBM Ist Yr., B 2. Disability insurance
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protection against financial losses 4. Property Casualty insurance
resulting from a variety of perils. By 5. Liability insurance
purchasing insurance policies,
individuals and business can receive Some insurance policies cover groups
reimbursement for losses due to car of people, ranging from a few to
The insurance industry accidents, theft of property, and fire and thousands of individuals. These policies
provides protection storm damage; medical expenses; and are usually issued to employers for the
loss of income due to disability or death. benefit of their employees or to unions,
against financial losses professional associations, or other
The insurance industry consists mainly
resulting from a variety membership organizations for the
of insurance carriers (or insurers) and
of perils. benefit of their members. Among the
insurance agencies and brokerages. In
most common policies of this nature are
general, insurance carriers are large
group life and health plans.
companies that provide insurance and
assume the risks covered by the policy. A relatively recent act of congress
Insurance agencies and brokerages sell allows insurance carriers and other
insurance policies for the carriers. While financial institution, such as banks and
some of these establishments are securities firms, to sell one another’s
directly affiliated with a particular products. As a result, more insurance
insurer and sell only that carrier’s carriers now sell financial products such
policies, many are independent and are as securities, mutual funds and various
thus free to market the policies of a retirement plans. This approach is most
variety of insurance carriers. In addition common in life of insurance companies
to supporting these two primary that already sell annuities. However,
components, the insurance industry property and casualty companies also
includes establishments that provide are increasingly selling a wide range of
other insurance – related services, such financial products.
as claims adjustments or third party
Insurance carriers have discovered that
administration of insurance and pension
the internet can be a powerful tool for
funds.
reaching potential and existing
Two basic types of insurance carriers customers. Some carriers also provide
are: insurance quotes online based on the
1. Direct insurance information submitted by customers on
2. Re insurance their internet sites. In future, carriers will
allow customers to purchase policies
Direct insurance consists of variety of through the internet without even
insurance policies: seeking to a live agent.
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ELDORADO 13
Future perfect renewing treaty arrangements.
The Indian insurance industry has seen Currently, India is a very small player
it all from being an open competitive in reinsurance. Growth in the market
market to being nationalized and back will need to be supported by the
to being a liberalized market. The entry development of infrastructure and
of the private players in 2001 changed robust regulations.
the dynamics of the industry and set new
Research and Markets Reports on
parameters for success.
Insurance outsourcing Focuses on India:
Today the Indian insurance general
“Insurance companies have traditionally
market is valued at Rs 14000 crore. It
been among the slowest adopters of
is growing at a rate of 20% and is
outsourcing / off shoring.
expected to reach Rs 45000 crore in
about 10 years. India has 14 private
players in life insurance and 12 players Key to growth:
in the general insurance sector. The greatest barrier to insurance is
The greatest barrier to
Penetration.” The strength lies in
insurance is Growth rate: building the backend. Products need to
Penetration.” The be supported efficiently through
Fiscal 2003 has seen private general identification of affinity and social
strength lies in building insurance players posting a growth rate groups and market segmentation. The
the backend. of 180%, indicating a scenario in which next focus area is the development of
the insurance industry is growing at a distribution channels. Companies need
remarkable rate.Tata-AIG General to identify bodies with existing channels
insurance, now in its third year of providing major distribution. “The
operation, is at the forefront of that internet has not led to more penetration
progress. for information.”
TATA-AIG was the first in the insurance
The buying process needs the personal
industry to start 24-hour call center, an
touch. TATA-AIG is looking forward to
initiative that aided customer
the development of the Tata brand
convenience. Other successes included
loyalty programme. This will enhance
the development of new lines, like the
cross-selling opportunities for all Tata
directors and officers policies, errors
products. Growing areas of the
and omission for the IT and ITES
insurance industry are medical services
industry, and the company’s net based
and health insurance and the industry’s
travel insurance policy, which can be
expansion into the broader financial
issued 24 hours a day through the
services field.
internet.
How can insurance industry
Changing times:
grow?
The global general insurance has ✓ Sales agents and adjusters are still
suffered due to September 11, corporate needed to meet face to face with
scandals, the Iraq wars. Although these clients, many of whom prefer to talk
event have made insurance in India directly with an agent.
cheaper, global reinsurers have started Opportunities will be best for sales
imposing stiff pre-conditions for agent who can sell more than one
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14
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type of insurance or financial faster than anyone expected.Indians,
service. who had always seen life insurance as a
✓ Adjusters will still be needed to tax saving device, are now suddenly
inspect damage & interview turning to the private sector and
witnesses. snapping up the innovative products on
✓ Employment opportunities should offer.
be good as stringent qualifying
requirements resulting from the
examination system limit the no. of SOURCE:
new entrants. ( BizMiner, May 31, 2005, Business
Reports)
Innovative products, smart marketing Indian management(The journal of all India
and aggressive distribution have management association)
enabled fledging private insurance Business week
companies to sign up Indian customers
Winners vs. Losers
When a winner makes a mistake, he A winner listens;
says, “I was wrong;” A loser just waits unit it’s his turn to
When a loser makes a mistake, he talk.
says, “It wasn’t my fault.”
A winner respects those who are
A winner works harder than a loser superior to him and tries to learn
and has more time; something from them;
A loser is always “too busy” to do A loser resent those who are superior
what is necessary. to him and tries to find chinks in their
armor.
A winner goes through a problem;
A loser goes around it, and never gets A winner feels responsible for more
past it. than his job;
A loser says, “I only work here.”
A winner makes commitments;
A loser makes promises. A winner says, ‘There ought to be a
better way to do it;’
A winner says, “I’m good, but not as
A loser says, ‘That’s the way it’ s
good as I ought to be:”
always been done here’
A loser says, “I’m not as bad as a lot
of other people.”
Arthur: Pat Williams
(He is the General Manager and
Vice President of NBA)
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ELDORADO 15
Nano
- An Introduction
KAPIL SINGH THAKUR
PGDBM Ist Yr., B
○
○
○
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M an himself is a nature machine
equipped with complex tools like
limbs and the five senses. Man with
are investing billions of Dollars to
explore and research out in this
direction. Like computer technology
these limited, but versatile tools has this technology also does not require a
built many structures like buildings, lot of investment but knowledge
cities, dams and developed thousands engineering (Brain power) and hard
of other resources for his own benefit work. This aspect of nanotechnology
and is controlling these resources as his gives a definite leverage to India - a
Man himself is a nature
personal property. One can go on country with large Brain power.
machine equipped with beyond the current day science to keep
Applications of Nanotechnology ranges
complex tools like limbs civil Engineering based building
from - reducing the size of electronic
technologies, with a conventional
and the five senses. approach, but a deeper look at the nature
gadgets (Bell Labs has already come out
with a self assembled Transistors of
which build the self reproducing and
single molecule size) to designing virus
learning machines from much smaller
to kill bacteria.
structures that is to say with fewer
groups of “Atoms and Molecules”.
Nano-Definition
Man has been trying to study the
nature’s smaller scale technology and There is no accepted definition of
has been progressively investigating Nanotechnology or Nano science.
smaller and smaller level of nature’s Nanotechnology refers to components
creation. The Human cells, Microbes, build of the size 20 to 30 Nano Meters.
Bacteria, Virus, Fungi etc. As the They are also supposed to be self
science has been historically replicating or self-assembling and this
understood, it has been divided into very aspect get confused with cloning. Self-
nearly neat division of Physics, assembling implies, you put the
Chemistry, Biology etc. Nature while ingredients in one place and they
engaged in its creativity/construction assemble into some thing useful where
activity never distinguishes different as replicating implies, you have an
streams or rules of science and assembled component and it replicates
technology. it self in to thousands of more like itself.
Cloning refers to meddling with nature
What are we driving at? The at reproductive level of animals
Nanotechnology tries to mimic the including human. Self-replicating or
nature and takes man nearer to the self-assembling does not refer to living
Creator by further few more steps. being but manipulation done on organic
Nano science and technologies are and inorganic materials at molecular
likely to touch every aspect of our life level. This separation between living
in the next few years. Many big names and nonliving gets blurred at nano level.
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16
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Any way whether self-assembling or Nano-Tools
self-replicating once the process is on,
For constructing any machine we
little effort is required externally to
require suitable tools to hold and place
manufacture them. The cost benefit can
the component in the precise location.
be immediately sensed.
The complexity of the tool increases as
“Nano Technology” in the broader and the size of the component decreases.
more inclusive definition is referred as Imagine building a component
molecular nanotechnology” or consisting of few molecules - What tools
“molecular manufacturing.” can be used, how they would look like?
And How to use them? Development of
Nanotechnology, while not providing a
the right tools for Nanotechnology itself
cure for everything, is defined by the
should be an interesting issue.
length scale when scientists and
engineers discover new phenomena. It
provides exquisite new tools to engineer Common Structures used in
novel materials and devices at the Nanotechnology
Living organisms are nanoscale, and to study biology. A
Nanotubes are the most common
examples of Natures nanometer, one billionth of a meter, is
structures used in Nano technology.
about 10,000 times narrower than a
handy work of Nanotubes are made of carbon atoms
human hair.
bonded into honeycomb-like shapes
Nanotechnology
with enormous strength and electrical
Nanotechnology in Nature conductivity. Recently another structure
Living organisms are examples of made of different oxides is Nano belt.
Natures handy work of Nanotechnology, Nano belt manufacturing seems to be
many natural molecular machines simpler and produces belts, which are
systems display enormous abilities. longer than Nanotubes.
Molecular machinery in green plants Nanopores is another structure. The
converts more energy and synthesizes a pores are so small that DNA separation
greater tonnage of organic compounds is being attempted using this structure.
than a chemical industry, and does its
job so cleanly using cheap raw materials Quantum dots are minuscule molecule
picked up by itself. The storage capacity making up tiny crystals that glow when
of genome in few bacteria may far stimulated by ultraviolet light.
exceed that in any large computer Nanoshells are miniscule beads coated
systems of today. Nature places far with gold.
denser systems in the same volume free
of charge (no-technical sophistication Dendrimers are man-made molecules
and resources spent up). about the size of an average protein, and
have a branching shape
Natural molecular machinery has
outperformed anything we now know,
Nano-devices for Human Bodies
how to build. There is lot to learn from
(The Living Machines)
nature about building molecular
machines of our own design, aiming to Challenges apply specifically to the use
make a wider range of products, of nanostructures within biological
including computer components that we systems. Nanostructures can be so small
can actually put to use. that the body may clear them too rapidly
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ELDORADO 17
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for them to be effective in detection or therapy could be used clinically in about
imaging. Larger nano particles may 15 or 20 years.
accumulate in vital organs, creating a
Nanotech could affect medicine,
toxicity problem. Scientists will need to
industry, and the fabrication of just
consider these factors as they attempt
about everything you buy, because
to create Nano devices the body will
smaller is not just beautiful, but also
accept.
cheaper, faster and less wasteful of
energy.
Practical Applications at a
Glance
To Sumup
1. Monitoring Patients: In order to
successfully detect cancer at its Nanotechnology is a hybrid science
earliest stages, The potential for combining engineering and chemistry.
nanostructures to enter and analyze Atoms and molecules stick together
single cells suggests they could because they have complementary
meet this need. shapes that lock together, or charges that
Nanotechnology is a
2. Electronics: Using Nano- attract. Just like with magnets, a
hybrid science technology electronic component positively charged atom will stick to a
combining engineering size would shrink along with the negatively charged atom. As millions of
cost. It means complex appliances these atoms are pieced together by
and chemistry like computer, cell phone etc would nanomachines, a specific product will
be like throw away items. Manu begin to take shape. The goal of
complex devices may be merged to nanotechnology is to manipulate atoms
offer multi-utility in a single small individually and place them in a pattern
package. to produce a desired structure.
3. Automobile: The changes in
electronics and other fields due to
nanotechnology would possibly
make the automobile run on fuel
assembled from Nanotechnology.
The engine may be running in some
other way not comprehendible
today.
Nanotechnologies in patient care
Nanotechnologies that will aid in curing
cancer par are in various stages of
discovery and development. Experts
believe that quantum dots, nanopores,
and other devices for detection and
diagnosis may be available for clinical
use in five to 15 years. Therapeutic
agents are expected to be available
within a similar time frame. Nano
devices that integrate detection and
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18
Rural Marketing
by MNCs
SWARAJ PAL SEHGAL
PGDBM Ist Yr., B
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T o expand the market by tapping the
countryside, more and more MNCs
are foraying into India’s rural markets.
Availability
The first challenge is to ensure
availability of the product or service.
Among those which have made some
India’s 627,000 villages are spread over
headway are Hindustan Lever, Coca-
3.2 million sq km; 700 million Indians
Cola, LG Electronics, Britannia,
may live in rural areas, finding them is
Standard Life, Philips, Colgate
not easy. However, given the poor state
Palmolive and the foreign-invested
The rural market of roads, it is a greater challenge to
telecom companies.
regularly delivering products to the far-
accounts for half the flung villages. Any serious marketer
total market for TV sets, Opportunity must strive to reach at least 13,113
The Indian rural market with its vast size villages with a population of more than
fans, pressure cookers,
and demand base offers a huge 5,000. Marketers must trade off the
bicycles, washing soap, opportunity that MNCs cannot afford to distribution cost with incremental
blades, tea, salt and ignore. With 128 million households, the market penetration. Over the years,
rural population is nearly three times the India’s largest MNC, Hindustan Lever,
toothpowder a subsidiary of Unilever, has built a
urban.
strong distribution system which helps
As a result of the growing affluence, its brands reach the interiors of the rural
fuelled by good monsoons and the market. To service remote village,
increase in agricultural output to 200 stockists use autorickshaws, bullock-
million tonnes from 176 million tonnes carts and even boats in the backwaters
in 1991, rural India has a large of Kerala. Coca-Cola, which considers
consuming class with 41 per cent of rural India as a future growth driver, has
India’s middle-class and 58 per cent of evolved a hub and spoke distribution
the total disposable income. model to reach the villages. To ensure
full loads, the company depot supplies,
The importance of the rural market for
twice a week, large distributors who act
some FMCG and durable marketers is
as hubs. These distributors appoint and
underlined by the fact that the rural
supply, once a week, smaller distributors
market accounts for close to 70 per cent
in adjoining areas. LG Electronics
of toilet-soap users and 38 per cent of
defines all cities and towns other than
all two-wheeler purchased.
the seven metros as rural and semi-urban
The rural market accounts for half the markets. To tap these unexplored
total market for TV sets, fans, pressure country markets, LG has set up 45 area
cookers, bicycles, washing soap, blades, offices and 59 rural/remote area offices.
tea, salt and toothpowder. The rural
market for FMCG products is growing Affordability
much faster than the urban counterpart.
The second challenge is to ensure
affordability of the product or service.
With low disposable incomes, products
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ELDORADO 19
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need to be affordable to the rural inaccessible to conventional advertising
consumer, most of whom are on daily media — only 41 per cent rural
wages. Some companies have addressed households have access to TV —
the affordability problem by introducing building awareness is another challenge.
small unit packs. Godrej introduced Fortunately, the rural consumer has the
three brands of Cinthol, Fair Glow and same likes as the urban consumer —
Godrej in 50-gm packs, priced at Rs 4- movies and music — and for both the
5 meant specifically for Madhya family is the key unit of identity.
Pradesh, Bihar and Uttar Pradesh — the However, the rural consumer
so-called ‘Bimaru’ States. expressions differ from his urban
counterpart. Outing for the former is
Hindustan Lever, among the first MNCs
confined to local fairs and festivals and
to realise the potential of India’s rural
TV viewing is confined to the state-
market, has launched a variant of its
owned Doordarshan. Consumption of
largest selling soap brand, Lifebuoy at
branded products is treated as a special
Rs 2 for 50 gm. The move is mainly
treat or indulgence.
targeted at the rural market. Coca-Cola
Coca-Cola uses a has addressed the affordability issue by Hindustan Lever relies heavily on its
introducing the returnable 200-ml glass own company-organised media. These
combination of TV, bottle priced at Rs 5. The initiative has are promotional events organised by
cinema and radio to paid off: Eighty per cent of new drinkers stockists. Godrej Consumer Products,
now come from the rural markets. which is trying to push its soap brands
reach 53.6 per cent of into the interior areas, uses radio to
rural households Acceptability reach the local people in their language.
The third challenge is to gain Coca-Cola uses a combination of TV,
acceptability for the product or service. cinema and radio to reach 53.6 per cent
Therefore, there is a need to offer of rural households. It doubled its spend
products that suit the rural market. One on advertising on Doordarshan, which
company which has reaped rich alone reached 41 per cent of rural
dividends by doing so is LG Electronics. households. It has also used banners,
In 1998, it developed a customized TV posters and tapped all the local forms
for the rural market and christened it of entertainment. Since price is a key
Sampoorna. It was a runway hit selling issue in the rural areas, Coca-Cola
100,000 sets in the very first year. advertising stressed its ‘magical’ price
Because of the lack of electricity and point of Rs 5 per bottle in all media.LG
refrigerators in the rural areas, Coca- Electronics uses vans and road shows
Cola provides low-cost ice boxes — a to reach rural customers. The company
tin box for new outlets and thermocol uses local language advertising. Philips
box for seasonal outlets. India uses wall writing and radio
advertising to drive its growth in rural
The insurance companies that have areas.
tailor-made products for the rural
market have performed well. HDFC The key dilemma for MNCs eager to
Standard LIFE topped private insurers tap the large and fast-growing rural
by selling policies worth Rs 3.5 crore market is whether they can do so without
in total premia. The company tied up hurting the company’s profit margins.
with non-governmental organisations Ref Business Line
and offered reasonably-priced policies
in the nature of group insurance covers.
With large parts of rural India
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20
Travelling with
Communication
Technologies
ASHISH RAUT
PGDBM Ist Yr., B
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T ravel is movement through time and
space and every trip is a space/time
experience leading to different cultures
The Conquest of Time and
Space
The conquest of time and space has
and times. This article is about man on
undoubtedly been one of man’s most
the move, travelling through time and
permanent non-vital urges. Whereas
space, through the meaning of human
food and drink are essential to man’s
existence. After all, time is the
survival, the conquest of time and space
fundament of history, without which
Travel is movement past, future, nor present would exist. is not. Nevertheless, it has always been
central in man’s actions. Apart from the
through time and space Without time, thought and human action
search for means of survival like food
would not exist. Time is the essence of
and every trip is a meaning; space, on the other hand, is the and procreation, man also has been
space/time experience looking for ways to increase the speed
essence of reality. Because our social
of his actions by imitating what is
leading to different and biological environment determines
happening elsewhere (conquering time)
our existence, no space means no life.
cultures and times The absence of space also excludes
or by looking what can be found over
there (conquering space). That is why
surprises because there is nothing to
human history may well be presented
discover in a void. Hence, space and
as the continuous search to overcome
time determine our position in the
the restraints of space and time by any
universe. To understand this, one should
creative means.
only image being the first man on earth,
fatherless, without history, future or The wheel, for example, initially served
frame of reference, full of doubts, in to transport food more easily, but soon
short without a position in time or space. became a tool for anything that
Undoubtedly, some of next century’s benefited from speed, or the reduction
most central issues will consist of of time. Think of moving armies faster
finding meaning in a universe which, to enemy lines, or the delivery of slaves,
thanks to information and or transporting massive stone blocks for
communication technologies, has the construction of the pyramids.
trivialised time and space and where, Thousands of years after the invention
after centuries of human history, these of the wheel, and still as a result of that
key concepts will no longer be obstacles search for speed, man is flying to New
to man. York by Concorde in only a few hours,
a crossing which, not even four hundred
The first part of this article will give a years ago, would have taken years, if
historic overview of how time and space not the travellers’ life.
have been conquered. Then the most
recent developments in communication Trying to conquer time is something we
technology, today’s possibilities and have been doing from time immemorial.
their consequences will be dealt with. Adam himself went to have a look
Finally, their implications will be behind the Tree of Paradise where he
discussed. discovered Eve, a discovery which had
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ELDORADO 21
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dramatic consequences. Later, whole questions reveal a loss of magic and
generations, tribes, and civilisations did enchantment, one result based on the
likewise and moved from one spot on presence of powerful communication
the Earth to another, always from the technologies globally.
known to the unknown and usually in
Another major step in the history of
search of food or to flee an aggressor.
communication was the invention of
Obviously, our reasons to explore the
writing, which may be considered as the
space we live in have expanded over the
graphic record of the spoken word,
course of time. Whereas the Crusades,
enabling us to receive messages
for example, were religiously inspired,
regardless of space and time. The
the colonial enterprise served purely
importance of writing can hardly be
economic interests. However, man
exaggerated. It enabled Roman generals
always wanted to see what unfamiliar
to pass into action much more quickly
places had to offer and whether the grass
and thoroughly than their
was not greener on the other side.
communication-technological primitive
Nowadays, communication techno- enemies. And, speaking about the
Just try to tell the story logies, together with the search for better transcendence of space/time, writing
means of transport, are the prime also allowed the word of Jesus to spread
of Robinson Crusoe to expression of this basic urge. Actually, much more efficiently than that of all
children. It’s almost communication technologies, carrying the other prophets which existed at that
sure they will ask why data and information, may well be time and competed for attention.
considered to be a means of transport.
in Robinson’s time cel- The next step in breaking down the
lular phones did not The very first step in the history of space/time restraints on human
communication technology quite communication and the spreading of
exist. literally needed the use of one’s feet. ideas consisted of print. Printing was as
The Greek marathon, or the physical revolutionary as writing allowing
transmission of a message by means of communication on a much larger scale.
a relay race, was the first innovation in In this respect it is significant that the
the process of breaking down space/time very first printed books were Bibles,
barriers in communication. The simple indicating that the process of attributing
principle of getting a message across as meaning to communication techno-
quickly as possible has never changed logies was often religiously inspired.
and resulted today in a situation where Religious organisations have had a long
speed cannot possibly be increased and standing tradition of utilizing
where no place on earth is free from technologies as they emerge (radio, film,
communication. The present state of and the Internet).
technology allows us to live on an
Telephone and telegraph once again
uninhabited island say somewhere in the
broadened the scale on which
Pacific and receive whatever television
communication liberated itself from
channel we desire by satellite. It allows
space/time restrictions and this time
us to contact whomever we feel like by
dramatically so. After all, the telephone
cellular phone or personal computer and
permitted individuals to react to
even to follow daily business in our
messages without having to be in the
office, if, of course, we would care to.
physical presence of others. The
In these circumstances, just try telling telephone enabled interaction over a
the story of Robert Louis Stevenson’s distance. It also introduced mobility into
Robinson Crusoe to children. It’s almost communication. It threw overboard the
sure they will ask why in Robinson’s necessity to remain in a village if you
time cellular phones did not exist. These wanted to contact family and friends. As
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22
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a consequence, the social environment Technically, all space/time restrictions
(space) into which people moved have been effectively eliminated from
became potentially enormous. In the the communicative process. We may
United States many live very long now know everything as soon as it
distances from one another but still occurs and can say anything to anyone
remain united by means of the wherever they are. Clearly, we live in a
telephone. It allows them to have the global space and time.
idea, or better the illusion, that they are
Events happen in real time, with the
still a family. In this respect cellular
smallest possible gap between the event
phones are pushing the illusion of
itself and the moment we learn about it.
remote proximity to the edge. Even on
Location is no longer important. The
our imaginary Pacific island, one can
slogan ‘The World at your Fingertips’
still cherish the idea that the people one
is a favourite in the world of
really wants to talk to are just around
communication technology, because it
the corner. Only, they won’t be able to
truly means that with just a few clicks
be there when they’re really needed.
of a button (remote control, mouse,
The Internet is actually The Internet is actually nothing more telephone) the world opens up.
than an application of the principles of
nothing more than an mobility, interaction, and interactivity
Hence, the phrase ‘global village’ takes
on a more realistic meaning. At one
application of the telephone users are familiar with,
point in history physical restrictions
pushed to the extreme and applied
principles of mobility, to every possible content. From
(location in a village) determined the
interaction, and context of personal experiences. That is,
anywhere in the world whatever kind of
the neighbourhood determined the view
interactivity telephone message (text, image, sound) can
of the world and most people’s
be sent and received. Even face-to-face
users are familiar with communication can be done across
socialisation. In the global village,
exactly the same happens, but on a
oceans if video conferencing facilities
planetary scale. One may chatter just as
are available.
easily with a South African friend as
Finally, audio-visual media complete the with the next door neighbour and get to
transcendence of space/time by means know more about Rwanda than about
of communication technology. Radio one’s own neighbourhood. Paul Virilio
and television, both less than 80 years has pointed out that, as a result, we
old, inform us personally about created a ‘temps unique mondial’ (single
whatever happens anywhere in the global time) in analogy with ‘la pensée
world nearly right at the moment when unique’. We no longer live according to
it occurs. It is no longer necessary to the rhythm of our village, but on the
travel in order to see a cheetah execute pulse of the world. Our values are no
its kill, something which one rarely sees longer our neighbours’ average, but
in real life. Similarly, thanks to those of ‘Neighbours’. We are living in
television, a missionary does not have the planetary now, the global moment,
to return from Rwanda in order to the ‘hic et nunc’.
become informed about current events.
How exactly this is influencing our view
Thanks to CNN and other media outlets
of life and our socialisation still remains
we know exactly what is happening at
to be seen as the process is still going
the moment when a revolt occurs at a
on.
safe 12,000 kilometers’ distance. Ever
since the Vietnam War, which was the
first war to be broadcast live, the space/ What is Possible?
time barrier has been effectively lifted
The speed and ease of communication
on television.
has created a new standard: life. When
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ELDORADO 23
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United States armed forces invaded provide additional details, such as the
Somalia, a CNN camera crew awaited best Chinese restaurant in the
them on the beach. Communication neighborhood.
technologies allowed us to see bombs
These technological advances certainly
falling on Baghdad during the war with
rob some of the adventure of traveling,
Iraq as if we were watching a video
such as the pleasant surprise of
game. Only the absence of a joystick
discovering a small, cosy hotel in a new
prevented us from giving our own
locale. Those of us who still want a
commands. Technically impossible?
travel adventure have to go to quite
Not at all. MIR camera’s can be directed
some length to find it.
by means of a personal computer from
Earth, at a 40,000 kilometres’ distance.
However the incredible speed with
which the media operate nowadays also TYPES OF
entails some risks. In the first place it COMMUNICATION
multiplies opportunities for mistakes. TECHNOLOGIES
United States armed Think, for example, of the manipulated
photographs when the revolt in What is telematics or telemetry?
forces invaded Somalia, Timisoara broke out. Second, fast
a CNN camera crew production inevitably entails reduced Telematics comes from ‘tele’ meaning
quality and a lack of profundity. remote and ‘matic’ meaning
awaited them on the measurement. Telemetry means the
beach Communication technologies allow same thing, although many people
work to be distributed on a global scale. incorrectly associate telematics with the
For example, Swissair’s accounting is automotive industry only. Although
being done in Bombay. In the evening vehicle tracking and fleet management
all data are transmitted to India where is a core application of our BOX
at that time it is morning. Indian technology, remote monitoring can be
programmers (with lower wages than useful to virtually any industry.
Swiss counterparts) pick up the data and
spend a day’s work on them before BOX is a highly automated communi-
transmitting information back in the cations device by which measurements
evening, when offices in Europe are are taken and other data collected at
opening up. This system is three to five static, remote or inaccessible points and
times cheaper than processing data in transmitted to receiving equipment for
the West. monitoring, display and recording. This
is called ‘remote data capture’.
Nowadays we dispose of ‘global
positioning systems’, miniaturised
personal computers with a satellite What is GSM?
connection, which are able to signal GSM stands for Global System for
your position accurately anywhere in the Mobile Communications. Originally
world with an error of one meter or less. developed as a pan-European standard
Obviously, this may be convenient when for digital mobile phones, GSM has
you are lost on the ocean and want to become the world’s most widely used
know your location. It also comes in mobile system. It is used on the 900
handy when you arrive in a strange city, MHz and 1800 MHz frequencies in
say Brussels, and want to be directed Europe, Asia and Australia, and the
from Zaventem airport to the city center 1900 MHz frequency in North America
with a request to a device. The market and Latin America.
already offers specialized gadgets which
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24
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BOX telematics uses GSM for 2-way generation of mobile communication
communication between m2mBOXs, systems.
the central control centre and operators
3G builds upon the increased capacity
mobile phones. Because BOX use the
GPRS offers but is an upgraded
existing and mature mobile phone
technology. These new systems will
network from Orange we are able to
provide enhanced services to those
offer cost effective and reliable
available today i.e. voice, text and data
communications between BOX devices
but will also delivery major changes in
in more than 170 countries. The use of
the way that mobile phones and PDA
GSM Satellite Technology extends this
type devices can work with real-time
network to include areas not available
applications. In much the same way that
by terrestrial coverage.
Broadband internet access has changed
the way businesses are able to work over
What is GPRS? the Internet.
The General Packet Radio Service
network (GPRS) is a new type of What is GPS satellite?
GPRS networks offer an network based on the existing GSM
GPS stands for Global Positioning
‘always on’ facility, with networks.
System and uses 24 satellites constantly
increased network GPRS networks offer an ‘always on’ orbiting the earth to determine the
facility, with increased network position, speed and direction of an
capacity capacity. The maximum speed of a object on earth. It is used extensively in
GPRS network is about 3 times as fast tracking moving objects, mainly
as data transmission speeds over fixed vehicles and assets. GPS is can be
telecommunication networks and 10 accurate to approximately 10 meters, or
times as fast as current GSM networks. less so can be used to provide geo-
This allows data information to be fencing capabilities.
transmitted more quickly for high
A geofence is a pre-set area beyond
volume data users and should result in
which an asset can’t travel. By using
a more cost effective way of transmitting
BOX technology it is possible to send
data. No dial-up modem connection is
alerts or even shut-down assets when
necessary so information can be sent and
they travel out side these geographical
received immediately hence the term
boundaries.
‘always connected’. This is an essential
feature for critical time applications.
What is Bluetooth?
The extra capacity of a GPRS network
will extend the capabilities of BOX Bluetooth is a wireless technology that
products to work with mobile phones enables links between mobile
and other communication devices. For computers, mobile phones, portable
example, not only will you be alerted if handheld devices, and connectivity to
your burglar alarm goes off but you will the Internet. Bluetooth attempts to solve
be able to ‘dial in live’ and see moving the problem of having many proprietary
images of your home. systems trying to talk to each other to
form a small, wireless network.
Conveniently, Bluetooth does not
What is 3G?
require ‘line of sight’ thus allowing
3G or third generation also called devices to communicate with each other
UMTS (Universal Mobile through barriers such as ‘pockets’ and
Telecommunications Systems) is the around corners within a range of a few
generic term used for the next meters.
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ELDORADO 25
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The obvious advantage to Bluetooth is manufacturing, where barcodes are not
streamlining the communication tough enough, and automated vehicle
between BOX products, sensors, identification systems because of its
machines, control systems and engineers ability to track moving objects. As costs
in a local environment, without having fall, it is now being more widely adopted
to install wiring. in situations where detailed knowledge
of an inventory is required. A move that
What is WiFi? has launched it into public conscience
with concerns over privacy, or example
WiFi, or Wireless Fidelity, is also in supermarkets.
referred to as “802.11b”, “802.11g” and
“802.11a” after the IEEE standards it The basic RFID system consists of three
utilises. WiFi is a wireless equivalent of components: an antenna or coil, a
the common Ethernet (a wired network). transceiver with decoder and a tag that
Anyone can set up a WiFi network and is electronically programmed with
cover an area of typically 100-500 feet unique identity information. When
with high speed wireless access to a physically close, the antenna emits a low
Key advantages of LAN, and hence to the Internet. powered signal that generates a response
from the circuitry within the tag. This
RFID include the non- Like Bluetooth™ WiFi offers the response is then received and
contact, non-line-of- opportunity for devices to communicate interpreted by the transceiver.
in a local environment, although over a
sight nature of the larger distance. Key advantages of RFID include the
technology non-contact, non-line-of-sight nature of
the technology. Tags can be read through
What is Low Power Radio? a variety of substances such as snow,
Certain radio frequencies have been fog, ice, paint, crusted grime and other
allocated for telemetry purposes with visually and environmentally
restrictions on the type of data sent. For challenging conditions where barcodes
example at 458 MHz there is a band or other optically read technologies
dedicated to telemetry; the transmit would be useless. RFID tags can also
power is restricted to 500mW and be read in challenging circumstances at
therefore the range is limited to approx high speed, in most cases responding in
20 kilometers. BOX telematics uses low less than 100 milliseconds
power radio frequencies to transmit data
between slaveBOXs and hubBOXs.
What is the difference between
local wireless and ‘wire-free’
technologies?
Bluetooth can only transfer data over a
range of a few meters, WiFi up to a few
hundred meters. Wirefree technologies,
however, as utilised by BOX telematics
allows data to be transferred world-
wide.
What is RFID?
RFID is a maturing technology used for
inventory tracking. It found its feet in
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26
Is Power Branding
-the Success Mantra
of FMCGs
REETI BORA INTRODUCTION In 2001, HLL was the first company to
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PGDBM Ist Yr., B come in the forefront to follow power-
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into existence with the new role of It contributed more than 3000 crore to
retailer as an economic partner. The the company’s turnover (close to 30
principle is very simple; here brands are percent of sales). In a nutshell HLL
rationalized to support the super retailer. capitalized the belief on the “size, brand
P& G along with Wall-Mart pioneered strength, uniqueness and growth
the concept. potentials”. It helped the brands to grow
The concept of ‘Power
In 1999, P& G’s arch-rival Unilever also under the prevailing market conditions.
brands’ came into
decided to focus on 400 out of its 1600 For others like Marico, GCPL or Dabur,
existence with the new strong brand portfolio. Two years later, too, “getting more from fewer brands”
role of retailer as an Unilever Indian arm, too, adopted the became the magic mantra. In 2002,
same strategy. Hindustan Lever decided GCPL decided to focus on five brands
economic partner to spend on only 30 brands and 10 in a bid to sustain; since these five
regional brands from its original contributed more than 90 percent of the
portfolio of 110 brands. Other Indian company’s total sales.
companies, too, decided to follow the
Global marketing power brands strategy, including Around the same time, Marico decided
Godrej, Britannia, Dabur and Marico. to exit from slow-growth, low margin
experts aren’t too sectors such as Sweekar edible oil and
Recently, Vijay Mallaya’s United Spirits
bullish about a brands also joined this group by naming Sil jams. Instead, it choose to stick with
strategy’s impact on the Director’s Special, Antiquity, Bagpiper, brands like Parachute, Saffola and Hair
McDowell No 1, Signature and 10 other & Care.
balance sheet brands as power brands. According to Arindam Banerjee,
professor and chairman, marketing area,
CONCEPT OF POWER Indian Institute of Management,
BRANDING Ahmedabad, “Power branding counters
brand dilution by allocating
In 2001 when the concept of power organization resources on lesser but
branding came to India, the Indian more secured marketing investments”.
FMCG market was crowded. More than And Adi Godrej of GCPL says in this
3000 advertisements were beamed on regard “Power branding is not to prevent
television every month, while stock- dilution of brand, but to prevent dilution
keeping units at retail outlets had of the company’s focus. If a company
increased by over 40 percent, in just has 10 brands and tries to support all of
three years. Unfortunately, for the most them, focus on important brand will be
part, shop sizes remained the same; and diluted”.
it affects in in-store displays and impulse
purchasing. Even the plethora of Global marketing experts aren’t too
television commercials wasn’t helping bullish about a brands strategy’s impact
the FMCG cause: it was difficult to on the balance sheet. According to some
stand out amidst the clutter. Marketers Power brands will have an
impact on the bottom line of companies,
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ELDORADO 27
but not necessarily on the top line dividing it’s market on two bases i.e. on
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growth. But according to some other national basis with 30 superpowers and
school of thought “You may have 10 regional jewels. Godrej is also
problems in the short run, but these can attempting to beat regional diversity at
be ironed out in the long run. its own game. For instance, in 1998-99
Introducing brand variants will help”. the toilet soap Godrej No.1 entered the
sub popular category with the offering:
If we consider some numbers, we can Rose, which is very popular in northern
see between 2001-2002 and 2004-2005, states such as Uttar Pradesh, Bihar,
GCPL increased 19.66 percent. Over the Madhya Pradesh and Rajastan. Soon it
same period, turnover went up less than launched the second variant ie. Sandal,
4 percent. which has proved very popular in
But in sharp contrast, Marico has shown Southern Markets.
significant hikes in both turnover and
profit from 2002 to 2005.On the other CONCLUSION
hand; HLL has been plagued by flat or
declining growth for some time now. With the above endeavor, the changes
Between 2001 and 2004, profits in the urban shopping also landscape
plunged more than 22 percent, while renew hopes. Most analysts expect
turnover dropped by Rs892 crore. The shoppers to throng to malls and
troubles magnify when specific hypermarkets, for everything from
categories are considered. Again the electronics and clothing to groceries.
growth may be due to other reasons such Now the question comes, how organized
as price hikes. retail will help power brands? In
developed markets, all brands, leaving
That is why we can say Power brands aside the top three sellers, have to buy
may be “powerful” to the company or space on retailer shelves. So it is
the retailer, not necessarily to the important to be No.1 or No.2 in a
consumer. But a senior executive of category.
HLL counters the above statement and
says, “the mix impact was because of Marketing experts claim that large-
the migration phase to power brands – format retailers have changed the
sales of non power brands declined”. He destiny of companies in foreign
emphasized that the company’s power countries. According to Mr. Jagdish
brand strategy will boost both topline Sheth, “When a Wal-Mart will happen
and bottomline growth in future. to India, the power branding companies
will reap the benefits”As organized
But India does not have a very smooth retail formats will provide more display
market to follow the strategies of Power space to power brands, they will be sold
branding as it has diversified taste, more. Marketers believe whatever gets
prefernce, demand and culture. Brooke seen, and attracts customers gets sold.
Bond tea may be a power brand for
HLL, but it has different competitor in So, can we expect the success of Power
different market; eg Wagh Bakri rules branding strategy in India? Where only
in Gujarat but Girnar and Sapat are the 3% of Indian customers shop through
top players in Maharastra. Again India organized retail outlets. The average in
is having the peculiarity of Rural Asia is 30% to 35%. The answer will
Market, which makes it more complex. depend on the category, the market and
the consumer; which are never
Power brand strategy allows a company predictable accurately.
the luxury of targeting fewer, profitable
segments. But penetration is difficult to SOURCE: Article by Govind Krishna
achieve with this strategy. To have a way Seshan & Satish Sarangarajan
out, leading FMCG giant like HLL is (Business Standard)
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28
An overview on
Indian Steel Industry
GAURAV MTNEJA
PGDBM Ist Yr., B
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T he first time around independent
India’s steel revolution was the
adorable child of the well meaning and
As part of building infrastructure, India
has started a tremendous programme of
highway construction across the
naïve Nehruvian. Vision of ‘Soft country. As a result, the domestic steel
Socialism’ Those were the days when demand has risen.
‘Foreign’ and ‘Private’ capital were the
2003-04 Dec 31,
anathema for India’s Policy
2004
establishment.
India has started a W.P.I (For Iron 202.1 237.8
A few decades down the road, after that
tremendous programme and Steel) ^35%
socialist vision has withered away. It is
of highway construction $12 billion gamble by a foreign player
across the country. As a POSCO that could well start another In October 2001, India Steel Alliance
revolution in the country. (I.S.A) was formed. It is an association
result, the domestic steel of major steel producers in the country.
Current Scenario
demand has risen I.S.A. objective amongst other things
The Indian steel Industry went through included is prompting steel usage as
turbulent phase in the back drop of a well as the development of the steel
global economic slow down revealing industry in the coutnry. I.S.A. is
that the Industry was now globally affiliated to the Confederation of Indian
linked and was impacted by the Industry (C.I.I).
developments in the international Currently I.S.A. constitutes are:
markets. As per the 9th plan (1997- • Steel Authority of India Limited
2002) steel production targets the • M/s JSW Steel Limited
industry had started investing in the • Essar Steel
fresh capacity. While the installed • Ispat Industries
capacity of the Industry went up to the • Rastriya Ispat Nigam Limited
35MT, slow down in all the sector of
economy and depressed global demand. Some facts about Indian Steel Industry
Resulted in the mis-match between • Steel is yet to touch the lives of
installed capacity and demand. million of people in India. Per
capita consumption of steel is only
All steel majors barring TATA steel went 29kg as compared to USA’s 400kg
in to the red and in 1999-2000 questions and world average 140kg.
were being asked whether the steel • The Indian steel industry is among
industry would survive or not. the least protected in the world.
But steel industry now in general, is on While developed countries have
the upswing, due to the strong demand put numerous tariff and non-tariff
in both domestic and international barriers on steel export from the
markets. country, the domestic industry is
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ELDORADO 29
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exposed to cheaper imports from 2020, with a per capita G.D.P. of $
competing nations. 1540.
• Government regulated prices and
For a nation that is economically strong,
free market is not prevailing.
free from problems of
• Indian producers employ world
underdevelopment and plays a
class standards and technology.
meaningful role in the world as befits a
Steel from India finds growing
nation of over 1 billion people, the
acceptability in international
ground work will have to begin right
market.
now.
• But despite this India’s share in
World Trade Steel is minuscule 2%. The Indian Steel Industry will be
The government envision India required and is willing to play a critical
becoming a developed nation by role in achieving this target.
The Year’s Best Actual Newspaper Headlines
For a nation that is 1. Include Your Children when 22. Never Withhold Herpes Infection
economically strong, Baking Cookies from Loved One
2. Something Went Wrong in Jet 23. War Dims Hope for Peace
free from problems of Crash, Expert Says 24. If Strike Isn’t Settled Quickly, It
3. Police Begin Campaign to Run May Last a While
underdevelopment and Down Jaywalkers 25. Cold Wave Linked to
plays a meaningful role 4. Safety Experts Say School Bus Temperatures
Passengers Should be Belted 26. Deer Kill 17,000
in the world as befits a 5. Drunk Gets Nine Months in 27. Enfields Couple Slain; Police
Violin Case Suspect Homicide
nation of over 1 billion 6. Survivor of Siamese Twins Joins 28. Red Tape Holds Up New Bridges
people, the ground work Parents 29. Typhoon Rips Through
7. Iraqi Head Seeks Arms Cemetery; Hundreds Dead
will have to begin right 8. Prostitutes Appeal to Pope 30. Man Struck By Lighting Faces
9. Panda Mating Fails; Veterinarian Battery Charge
now Takes Over 31. New Study of Obesity Looksfor
10. British Left Waffles on Falkland Larger Test Group
Islands 32. Astronaut Takes Blame for Gas
11. Lung Cancer in Women in Spacecraft
Mushrooms 33. Kids Make Nutritious Snacks
12. Eye Drops Off Shelf 34. Chef Throws His Heart into
13. Teachers Strike Idle Kids Helping Feed Needy
14. Clinton Wins on Budget, But 35. Arson Suspect Held in
More Lies Ahead Massachusetts Fire
15. Enraged Cow Injures Farmer 36. Ban On Soliciting Dead in
With Ax Trotwood
16. Plane Too Close to Ground, 37. Local High School Dropouts Cut
Crash Probe Told in Half
17. Miners Refuse to Work after 38. New Vaccine May Contain
Death Rabies
18. Juvenile Court to Try Shooting 39. Hospitals are Sued by 7 Foot
Defendant Doctors
19. Stolen Painting Found by Tree
20. Two Sisters Reunited After 18 Sing Like Nobody’s Listening
Years in Checkout Counter Dance Like Nobody’s Watching, Love
21. Killer Sentenced to Die for Like You’ve Never Been Hurt,
Second Time in 10 Years Live Like it’s Heaven on Earth.
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30
Learning organisations
challenges in the
21st century
SWATI MAHAJAN
PGDBM Ist Yr., B
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W e got the privilege of attending a
panel discussion on learning
organisations on 1st September 2005.
Anything and everything that facilitates
our intentions into accomplishments is
called learning. Learning is a journey
The eminent speakers were Mr. Subir and not a destination.
Vyas (Director. HR GAP International
How do you design a learning
Sourcing India Pvt. Ltd.) and Mr. K.K.
organization?
Srivastava (Senior Consultant, Third
• Organizations must have a mission
Millennium Business Resource
A Company will be and a vision. They must have a
Associates Pvt. Ltd.)
successful only if it is a strategic plan
Organizations where people continually • Support structure should be strong
learning organisation. expand their capacities to create the enough. There must be enough
Learning can be fullstop results they truly desire, where new and financial and human resources to
learning, proactive expansive patterns of thinking are support your plan.
nurtured, where collective aspiration is • learning mechanisms should be
learning, corrective set free, and where people continually made clear. Learning can be from
learning learn how to learn together are called 2 sources
learning organizations. They learn,
External Learning (environment
delearn to relearn the process of
scanning and audit)
learning. Learn from your past and
Learning is a journey
moves to your future( learn to anticipate Internal Learning (customer response,
and not a destination the future). feedback, analyzing competitive
behavior, innovations.)
Learning is a continuous SMART way of learning implies
process. Learning ends with the S - select a goal
end of life. M- mapping out how to achieve these
goals
These days organizations are less
A- acting on the basis of plans
dependant on hardware and more
R- review and evaluation
dependant on brainwave, because to
T- target the next learning goal
achieve your targets and to be successful
you need to keep learning. Companies At the heart of a learning organization
like Levis failed because they failed to is a shift of mind —from seeing
learn the consumer behavior and change ourselves as separate from the world to
in their tastes and preferences. A connected to the world, from seeing
Company will be successful only if it is problems as caused by someone or
a learning organisation. Learning can be something ‘out there’ to seeing how our
fullstop learning, proactive learning, own actions create the problems we
corrective learning. experience.
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ELDORADO 31
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A learning organization is a place where brands, customers, vendors and
people are continually discovering how geographical territories.
they create their reality. And how they
The focus is on attracting, developing,
can change it.
retaining and investing learning in their
Learning organization would be people. They have internal learning in
an entity which individuals “would the forrn of training program, feedback,
truly like to work within and which can analysis, check-in, needs assessment
thrive in a world of increasing and external learning.
interdependency and change.”
They have crated a climate that is right
GAP is a 35 year old company. It deals for learning and have developed a more
mainly in apparels and accessories. It is broad based management. The HR acts
a U.S based clothing company and has as a nucleus, is in constant touch with
a powerful brand name in U.S. It leadership personnel and managers to
operates in Canada. Japan and parts of facilitate and communicate what is
Europe. Its mission is to ensure that the necessary.
Learning organization products are of right quality, reach at
LEARNING IS UNDERSTANDING,
would be an entity the right time and to right customers.
EXPLORING, REFLECTING AND
GAP is a learning organization. GAP
which individuals DEVELOPING YOUR KNOWLEDGE
recognizes that each person plays a role
“would truly like to in the success of the organization.
“Never be frightened to ask-WHY
work within and which GAP people strategy is about investing you may learn something”
can thrive in a world of in you to unleash the undisovered talent
in the company. GAP creates new
increasing
interdependency and
change.”
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32
Healthcare:
Medical Tourism
MONISH MAHESHWARI
PGDBM Ist Yr., B
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T he growth in the Indian healthcare
sector which accelerated due to
recognition on the part of developed
Wockhardth hospital and Apollo
hospitals wellness retreat help promote
medical treatment in India, hotels like
world is now reaching a frenetic pace. rejuvenating both the domestic and
international tourist.
India may not rank high in the United
Nations Human Development Index.
The country is gaining prominence Trends in the sector
The country has at least among the offshore patients as a hub for The country has at least 100 institutions
quality medical treatment coupled with including medical colleges, private
100 institutions majestic tourist places at a cost which hospitals etc. that are comparable to the
including medical is less than half as compared to what is best in the developed countries. People
incurred in the developed countries. from foreign have already started
colleges, private
Prime concern not being of funds those coming to India for various treatments
hospitals etc. that are at Apollo and Escorts hospitals. People
of competent personnel t man the
comparable to the best hospitals is acting as a catalyst in the from Pakistan, Bangladesh, Nepal,
in the developed quest for quality treatment hence their Bhutan and gulf countries come for
inclination towards India. treatment in the premier hospitals in
countries. People from India. The image of India is further
foreign have already Perceived as one of the fastest growing strengthened by the presence of Indian
segments in marketing ‘destination doctors in well known hospitals and
started coming to India India” today while this area has so far research institutions abroad.
for various treatments been relatively unexplored we now find
that not only the ministry of tourism but Advertisements in newspapers about
also various state tourism boards and vacancies of Indian doctors and nurses
even the private sector which includes and other paramedical staff have
travel agents, tour operators, hotel become common in India. Government
companies and other accommodations hospitals in these speciality treatments
are all eying health and medical tourism in UK have a long waiting list of patients
as a segment with tremendous potential and treatment in private hospitals in
for future growth. such countries is very expensive as
compared to India.
Kerala with the slogan God’s own
country has pioneered health and
Cost comparison
medical tourism in India and which has
resulted in the substantial increase in the A study shows that the cost of
visitors Kerala has although focused undergoing minor surgeries in the best
exclusively only on Ayurveda good Indian hospitals is approx. 30% of that
facilities are available in other in Britain. The country has been
traditional as well as modern treatment witnessing a large number of dental
a wide range of hospitals like Lilavati tourists from Europe over the years.
hospitals, Jaslok hospitals, Bombay Dental white filling in Europe costs
hospital, Hinduja hospitals and about 400 euros, equivalent to Rs.
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ELDORADO 33
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Comparative price list
surgery Us($) India($)
Bone marrow transplant 400000 30000
Liver transplant 500000 40000
Open heart surgery (cabg) 50000 4400
Neuro Surgery 29000 8000
Knee surgery 16000 4500
24000 whereas in India it costs just Rs. around 50 hundred crores. According to
2000-3000. a Mckinsey report the Indian heathcare
industry is expected to touch $5 billion.
Growth Pattern_ of sector. More than 70000 patients are attracted
More than 70000 towards India who avoid going to US
The Apollo hospital which is one of the and Europe due to various political
patients are attracted best in country with its 30 branches reasons. The segment is considered as
towards India who spread over the country has already a next big forex earner for the economy
avoid going to US and treated more than 60000 foreign patients and has the potential to create millions
from more than 34 countries in the last of jobs.
Europe due to various decade. More than half of them came in
political reasons. The the last decade. Besides these reports Problems faced
also show that other premier hospitals
segment is considered as located in large cities in India have long Despite being an attractive medical
a next big forex earner queues of patients from neighboring tourism destination the reason of not
for the economy and has countries as well as Middle East and being able to attract foreign patients in
Africa seeking cheap and effective large numbers is mainly attributed to
the potential to create health care services. Indian hospitals lacking accredition
millions of jobs The change not being a sudden one has
from joint commission on accredition
of heath care {jcaho}, lack of standards
been brought about due to the presence
in terms of quality, absence of gradation
of more than 35000 speciality doctors
system and imperfect insurance sector.
of Indian origin in United States alone
In great contrast to the UK health
and many more in other countries. Some
care scenario, where hospitals
time before there used to be large time
are standardized, audits regularly
gap between the introduction of latest
performed in hospitals graded, the
technological products in the West and
systems are completely absent in Indian
in India but now this gap has almost
hospitals The Indian hospitals have high
been bridged and launching of such
infection and mortality rate but they do
modern gadgets occurs simultaneously
not want to share these data.
in India and in the West. Also
prominence of western doctors has been
cracked and Indian counterparts are said The future
to have surpassed them. The time has come for India to move
beyond Ayurveda and other alternative
Size of Indian industry medicines to high level treatment as the
country has tremendous potential to
The medical tourism which is growing capture a major part of international
at a rate of 30% annually now stands at healthcare treatment as it could offer
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34
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treatments that are at par with Economists see the healthcare sector in
international standards. the sunrise industries that includes
tourism, food processing and
India can provide specialized at a very
biotechnology. Joint initiative by the
cheap rate treatment like
government and the private sector in
transplanatation of vitual organs, cancer
providing duality healthcare services
treatment, neuro-treatment and cardiac
can immensely benefit in short run and
surgery. The main demand would arise
raising the healthcare standard should
from millions of NRI’s living all over
be the long term objective.
the world.
Winning by Will-Power
“Where there is a will, there is a way”
Strong Will-Power enables a person Every human being is born with a
The time may come certain measures of will power. Some
to accept challenges and fight back
when everything against all odds. A person with a rock exercise there will power and develop
appears lost. But all solid “will” will be indomitable and it. The necessity to exercise will
will have the stamina to stick to his power would be necessary only till
that is required by you decisions, no matter what the situation you develop the habit.
is the will power, not to is nothing can deter the strong willed The will power of an individual can
quit: when the last step individual from achieving success. also be strengthened considerably,
There may be situations when you may especially when directed towards
is to be taken. It is the overcoming entrenched bad habits
get into a tight corner and everything
last step in a race that goes against you. The time may come like smoking, drinking, gambling and
counts. It is the last when everything appears lost. But all the like. One motivating factor could
that is required by you is the will be to contemplate on the advantage
stroke in the nail that of giving up the bad habit and the
power, not to quit: when the last step
counts is to be taken. It is the last step in a disadvantage of persisting it. The
race that counts. It is the last stroke in other factors which go to strengthen
the nail that counts. Be bold, dare and one’s will power are enthusiasm,
do. optimism, faith, interest, keenness,
urge and a sense of responsibility.
The unique feature of will power is
that the more you exercise it, the more It is true that for anything and
you develop it. It multiplies in everything, there will be a way
geometric progression in an provided there is a will. Assert with
individual. Therefore the only way one absolute confidence that you will find
acquires strong will power is to begin a way to make it. Go ahead with
exercising it at each possible courage and determination. You are
opportunity. It will also help in gaining certain to win SUCCESS.
self-control and self confidence. In SOURCE: CSR
fact self- control and self confidence
are only an extension of one’s will BY BHAVNA TRIPATHI
power.
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ELDORADO 35
Poems
Be the Best
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In that building,
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In that lavish office,
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If you can’t be a Pine, Sitting on a cushioned chair,
On the top of the Hill, Giving instructions, handling
Be a Shrub in the Valley- Calls pouring in from everywhere.
The best little Shrub by the God has not made me,
Side of a Rill. Just to eat, drink and weep,
Just to lead an aimless life,
If you can’t be a Bush, And finally lie down,
Be a bit of the grass. In an eternal sleep.
If you can’t be a musician, I can’t allow myself,
Just be Bass, To be overpowered by
But be the best one in the class. Lines of my palm,
To just see what I get,
If you can’t be a Highway, And remain satisfied and calm.
Just be a trial. I have to pave my own path,
If you can’t be a Sun, And take in from the world,
Be a little Star; Till my capabilities last.
It isn’t by the size that, They say –
You win or you fail, Rome was not built in a single day,
Be the best of whatever You are. Your destination is miles away,
Creating success is not a child’s play.
Ashish Raut I reply –
PGDBM I. I and the people,
Who built Rome,
Were created by God,
Dreams To Determination Out of the same clay.
I will build a path,
I am a pauper, With the help of sheer hard work,
Cannot afford a Saucer, And reach the destination,
But still I can dream, That is lying miles away.
About my future, I have my flesh and blood to exert,
Away from poverty, And my wits,
Away from hopelessness, To tackle difficulties lying covert.
Away from my shabby extremes. Because from now onwards,
Yes!! I can see it!! There is no stand by,
That is where I will be, As I have determined,
And the whole world will see. To go above the world,
The sky will be mine, And taste the sky.
All limits I shall resign,
Stuti Verma
All boundaries I shall break,
And success – I shall make. PGDBM – 2005 – 2007
I just can’t stop seeing myself, Section – B
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36
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Just Smile An inspiration to love.
From an engine you get,
When depressed and saturated, An inspiration to be tough.
When deeply hurt, From man you get,
Under the mountain of worry, An inspiration to be stiff.
Just Smile ……. And from the word I get,
An inspiration to write about
When you have a long way, “inspiration”.
And miles and miles of subway,
Ashish Raut
Just think for a while
PGDBM I
And put on a big Smile.
When you are wrongly hurt, Smile
Ridiculed and criticized
Don’t turn blue and shed tears Smile is infectious,
Just wear a Smile. You catch it like the flu,
When some one smiled at me today,
When you know no one is here I started smiling too.
To comfort and to console you,
Just Smile. I walked around the corner
And someone saw my grin,
You feel you have lost the bettle, When he smiled, I realised,
Of life, dear friends, I’d passed it onto him
You will get thought,
Just Smile. I thought about the smile
Surbhi Kansal And realised it’s worth;
PGDBM I A single smile like mine
Could travel around the earth
If you feel a smile begins
Inspiration
Don’t leave it undetected,
Let’s start an epidemic quick,
Life is a station,
And get the world “infected”
Full of inspiration.
After each motion, Neha Goel
There lies an inspiration. PGDBM I
From Tears you get,
An inspiration to smile.
From fears you get, Reflections in a window pane
An inspiration to fight.
From rivers you get, An effort to see more clearly, the
An inspiration to flow. images of life which often appear
From airs you get, distorted and incomplete while
An inspiration to blow. looking at them in the window of
From moon you get, time...War of the worlds.Its a conflict
An inspiration to glow. between ...
From mountains you get, the extrovert and the pervert.....
An inspiration to be high. the orthodox and the paradox....
From bird you get, the conscious and the presumptuous....
An inspiration to fly. the inventor and the creator.....
From pigeon you get, the chained and the pained.....
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ELDORADO 37
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the frivolous and the incredulous.... Life’s Accountancy
the ability and the disability......
the time and the rhyme...... My parents are my Opening Stock
the bending and the impending..... What comes I Debit…
the physical and the philosophical...... What goes I Credit…
the dumb and the numb...... My birth is my Purchase A/C
Its a conflict of my worlds..... My ideas are my Assets
between myself and thyself...... My problems are my Liabilities
the mind is the battleground, Happiness is my Profit
and the soul is that bleeds..... Sorrows are my Loss
Its a war between...... Soul is my Goodwill
the conscious and the odious.... Heart is my Fixed Assets
and lest the my dies.... Duties are my Outstanding Expenses
the thy shall never rest..... Good will is my Prepaid Expenses
The conflict between myself and Friendship is my hidden Adjustment
thyself arises more often than I would Character is my Capital
desire. And on days like today, puts Bad things I always depreciate
forth questions I have no answers Good things I always appreciate
to.....and in the end, when I give up in Knowledge is my Investment
despair, I find solace in the words of Patience is my Interest
Robert Graves..... My mind is Cash Balance
He is quick, thinking in clear images; My thinking is my Bank Balance
I am slow, thinking in broken images. Behavior is my Journal Entry
He becomes dull, trusting to his clear Aim is tally the Balance Sheet
images; I become sharp, mistrusting God is my Closing Stock
my broken images. My death is my Sales A/C
Trusting his images, he assumes their
relevance; Mistrusting my images, I Nitika Jain
question their relevance. PGDBM I
Assuming their relevance, he assumes
the fact; Questioning their relevance, I
question their fact.
When the fact fails him, he questions ‘Asatho Ma Sathgamaya,
his senses; when the fact fails me, I
approve my senses. Thamaso Ma Jyothirgamaya
He continues quick and dull in his
Mruthyorma Amrthangamya’
clear images; I continue slow and
sharp in my broken images.
He in a new confusion of his Lead me towards truth from untruth
understanding; I in a new Lead me towards light from
understanding of my confusion.
darkness
Swati Mahajan
Lead me towards immortality from
PGDBM I
Death
(Source: Brihadaranyaka Upanishad
1:3,28 around 3500 bc)
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38
A Date...
A Story By:
GARIMA MADAN
PGDBM Ist Yr., A
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T his happened a few years back. The
new session for standard X had
already begun and our summer vacation
acid tears stinging my eyes. Very soon,
as the dam broke, my dreams about a
great holiday in the hills were washed
was temptingly going to end. There were away into a torrent of copious salt-water
preparations for an exciting tour to flow.
North East in full swing by my friend’s
St.Mary Nursing Home was situated 25
family and incidentally, I happened to
km from the main city and housed
be a part of it.
She saw me and gave mostly elderly people. As I neared its
me a bright, toothless But a teacher gave me a call from spotless white brick building I felt
school. She had an assignment for me. I calmer. At the reception each one of us,
grin. “ Can you help me prayed to God, ‘not this time’. She said was given a slip with details of our
do my hair, young that I was appointed one of the members ‘subjects’. On mine I found the words,
lady?” of a social-workers group, which was “Mrs.S.Singh”, TERMINAL WARD!
to be on duty in that month. Room No: 2.
When I returned home I asked my I entered the room and saw my subject
mother, “ Do I have to go? “ “Yes”, she for the first time. She was an old lady
said, “ You have to and that’s all about with grey hair which she had done doing
it.” Before I could protest against the up in an unsuccessful bun. She saw me
tyranny she was out of the room. That and gave me a bright, toothless grin. “
night I gingerly opened the booklet. I Can you help me do my hair, young
read through the haze of tears and saw lady?” I went up to her wordlessly and
that it was one of those projects in which did up her hair for her, as she wanted.
school children visit hospitals and are Then I introduced myself and she did
assigned one patient each for 15 days. the same. She was suffering from
We were to sit and talk to our ‘subject’ BREAST CANCER, I was told.
as the book said and keep them free of
That day I talked to her about my
tension.
aspirations regarding the future and she
The next day, as I boarded the bus, talked of her happy past. She was not
which was to take us to the home of sick angry with life for having cheated on
and old, St.Mary Nursing Home, I gave her. Instead, she was thankful for
my mother a reproachful look mixed everyday of her life.
with an expression of selfless
Then, it became a routine. Everyday at
martyrdom. My mother smiled
9’0 clock I would knock at her door and
encouragingly, “This is an experience
would be summoned in by her alert,
to remember, go ahead and give your
silvery voice. Then I would do her hair,
best. Good Luck!” As the bus moved
help her settle her bed, arrange flowers
away, with 12 more girls with me, I felt
in the vase- she loved poppies best, read
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ELDORADO 39
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the newspaper with her, and then talk, an end. As I said good-bye to my
talk and talk. At 2.p.m. I used to read ‘subject’, neither of us could blink back
her a magazine. At 8.p.m. I would retire the telltale tears. We parted on a tearful
to my room in the adjoining hostel. note saying our good-byes as many as
times as possible. As I left, she gave me
There is something which I have never
a small bedside mirror, which I had
told anyone- everyday in the morning,
always admired. “I won’t need it up
when I knocked at the door and heard
there, but my pretty lady will need it
her soft voice beckoning me in, a wave
down here”, she said trying to sound
of sheer calm used to sweep over me
joyful.
for I have always dreaded that she would
be dead. I have never been more I came home. After a month at the
thankful to God as I was when I heard nursing home, everyone expected me to
the three familiar words every morning- be exhausted, totally pooped out and
“ Do come in “. raw with my mother. But of course, it
was not so, instead, I felt a lot happier,
I had started enjoying my social work.
She once said to me, Mrs. Singh was a delight and was full
calmer and thankful to my school for
having sent me on such a memorable
“You won’t find this of vitality. Ironically, she was the one
trip. It was as my mother had said, “ An
who kept the tension down by assuring
today, tomorrow. So experience to remember.”
and reassuring me about my boards, my
make your today happy future and the rest. She once said to me, Mrs.S.Singh is no more. I never knew
so that you do not regret “You won’t find this today, tomorrow. what her initial ‘S’ stood for but ‘sweet’
So make your today happy so that you sounds good enough! Her gift, the
tomorrow.” This has do not regret tomorrow.” This has ever mirror, still stands at my dressing table
ever since been my since been my motto. and every time I look into it I can
imagine her sitting on her bed, trying to
motto But all good things must end, such is
‘do up’ her grey hair in a designer bun
the transience of life. My trip came to
and I can’t help smiling into it.
One Day of Law Class
One day in Contract Law class, a to you all and singular, my estate and
Professor asked one of his better interests, rights, claim, title, claim
students, “Now, if you were to give and advantages of and in, said
someone an orange, how would you orange, together with all its rind,
go about it?” juice, pulp and seeds, and all rights
and advantages with full power to
The student replied, “Here’s an
bite, cut, freeze and otherwise eat,
orange.”
the same, or give the same away with
The professor was livid. and without the pulp, juice, rind and
seeds, anything herein before or
“No! No! Think like a lawyer!” the
hereinafter or in any deed, or deeds,
Professor instructed.
instruments of whatever nature or
The student then recited, “Okay, I’d kind whatsoever to the contrary in
tell him, ‘I hereby give and convey anywise notwithstanding...”
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40
Management Education
and
Case study methodology
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V
GAURA JAIN 3 months in this MBA and I have vision conducting strategic negotiations
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PGDBM Ist Yr., A received a shock !!!!!!! and achieving objectives.
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A shock? Yes a cultural shock. The use of case study in management
education has become universal and
Education is totally different here from
ubiquitous. It is taken for granted in
our good old college days.
most of the B-schools. MBA education
We used to go to college early, to sit at is different from engineering solutions
In management it is all last bench, talk through out lectures or where there is only one right way of
about identifying the for a change ask some questions to the doing things. Here solutions are
teacher. complex and often diversified i.e. much
opportunity or
depends upon the person making
Study used to come into play one month
predicting it and acting before exams, mug up and vomit there,
decisions. MBA programs highly aim at
at the right time. This following objectives
big relief.
1. Strategic thinking
can only be possible if No team works, no pressure of 2. ability to work in team
the knowledge gained is presentations. 3. excellent communication skills
4. creativity
applied in proper But, here the scene is totally different.
5. wholesome view
Team works, presentations, applying
manner Management is
mind in exams (remember Marketing Here where the case studies make a
all about and MO papers). difference unlike other systems where
implementation and a “Guru” comes and distributes all his
Emphasis is on learning through critical
gyan here emphasis is on “Learning by
action thinking not by rote.
critical thinking” not on “ Learning by
The method here I enjoyed most is case rote”
studies. It gives a person a chance to
This critical thinking helps us to form
think, to analyze the problem and
an element of foresight. In management
suggest its own solution to problem.
it is all about identifying the opportunity
In this article I am tracing the roots of or predicting it and acting at the right
“case study” as a method in MBA time. This can only be possible if the
education. knowledge gained is applied in proper
manner Management is all about
Panchatantra in India is the first known
implementation and action. A manager
collection of short tales used as case
may possess all the knowledge about
studies for teaching the art and science
latest theoretical developments on SQC
of governance, administration, warfare,
& six sigma methods but crucial
diplomacy and public welfare. The five
difference lies on its effective
chapters teach lessons of overarching
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ELDORADO 41
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implementation for firms. It’s the thin environment and problems which
line between competitiveness & student managers might face in future.
bankruptcy. The heated debates, ideas, strategy
making is only taking us one step closer
Managers are supposed to provide all
to our future roles.
these inputs leading to the betterment
of the organization as a whole. These In the end I would like to end with
attributes are not “gyan” but the following prose from “Panchtantra”
experience which one gets by making
“ let no man ever contemplate an act ill
his hands dirty. Management is much
conceived, ill considered and ill done
like swimming or cycling. Loads of
without proper strutting. Inspect a
theoretical knowledge but, u are down.
matter with utmost care before reaching
It is only the experience which allows conclusions and rushing into actions,
to master these skills. The case method else bitter remorse is let loose”.
allows the students to create mental
No two situations are similar neither
structures and frame works of particular
“ let no man ever situation and feeling of the context
solutions.
contemplate an act ill under which decisions are to be taken. Case studies arm the person with
knowledge which has to be used as per
conceived, ill These cases tend to create virtual
situation and ability of managers.
considered and ill done
without proper
strutting. Inspect a Jokes
matter with utmost
care before reaching An English professor wrote up on the parrot was his at last!
board “woman without her man is
conclusions and As he was paying for the parrot, he
nothing” and told his students to
said to the Auctioneer, “I sure hope
rushing into actions, punctuate it.
this parrot can talk. I would hate to
else bitter remorse is let The males in the class wrote “Woman, have paid this much for it, only to find
without her man, is nothing.” out that he can’t talk!”
loose”
The females wrote “Woman! Without “Don’t worry.” said the Auctioneer,
her, man is nothing “He can talk. Who do you think kept
bidding against you?”
Auction
Good Sight
One day a man went to an auction.
While there, he bid on a parrot. He Patient: “Doctor, every time I look in
really wanted this bird, so he got the mirror, I get sick!”
caught up in the bidding. He kept on
Doctor: “At least your eyesight is
bidding, but kept getting outbid, so
good.”
he bid higher and higher and higher.
Finally, after he bid way more than — Compiled by
he intended, he won the bid - the SWARAJ PAL SEHGAL
PGDBMI
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42
The Psychology
of Self
I couldn’t wait for the success,
○
VIKAS BHARGAV
○
PGDBM Ist Yr., B So I went ahead without it
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Jonthan Winters
That’ the spirit with which we should individual or everyone has to have his
move ahead in life. own attitude of viewing himself.
The basic flaw in No, it doesn’t mean adopting a laxity in And with a bit of thinking the answer
viewing ourselves is our our attitude towards success or more comes that all these approaches can’t be
specifically towards our own strengths applicable to all persons all the time
extinction from
or in particular towards our very own without a single hurdle.
attaining the serenity of being.
Then what’s the answer to this quesion?
mind and rather It’s rather a way of looking up to self
Well it all lies within us: the moment
wandering in the with a view so as to trusting ourselves
we start trusting ourselves, we start
and enhancing our esteem towards
premises of approaches ourselves. The basic flaw in viewing
believing ourselves, the moment we
start paying attention to self esteem, it
of different personalities ourselves is our extinction from
inculcates in us a belief that we can do
attaining the serenity of mind and rather
our task if we really try from our heart
wandering in the premises of
and it is this belief that prevents us from
approaches of different personalities.
letting ourselves fall prey to those
Where there are humans, views will negative thought processes that suck the
differ and must differ so as to maintain very force from us which provide us the
the eagerness to learn and develop momentum to excel in achieving our
ourselves. But the most important point: desired goal.
what the self esteem is. Some see it as a
Not comparing ourselves to others but
psychodynamic, developmental
focusing on our own strengths and
process; others have approached it from
motivating oneself so as to enhance
the perspective of the cognitive-
them and last but not the least relying
behaviorist in terms of various coping
on them can provide us base to fall back
strategies; others have viewed it from
upon in adverse times and to and
the position of a social psychologist in
confront the challenge with a belief in
terms of attitudes, while others have
ourselves which definitely will result in
focused on the experiential dimensions
our success. As they say
of self-esteem as a humanistic
psychologist.
Life is too short to be little.
But now the question arise whether
these approaches are fit for every
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ELDORADO 43
Making A Dream Come True
Every 26 Seconds
A visit to Maruti Udyog Limited, Gurgaon.
○
VIBHUTI RAMAN DAS Maruti Udyog Limited produced its first • Welding: Pressed panels are
○
PGDBM Ist Yr., A car Maruti 800 on 14th December 1983. welded together to form bold
○
○
○
It was established as a Government shells.
Company in February 1981. Maruti • Painting: After the welding
○
collaborated with Suzuki of Japan and process, painting and finish
○
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produced affordable cars for the coating on the panels is done.
Indians. • Machining: Various raw
materials for engine
Over 50,000 suggestions The learnings from the industrial visit:
components are machined
1. Kaizen Theory: Maruti Udyog
are received from using automatic machining
believes in the Kaizen which is
centers.
employees every year. It based on the concept of making
• Engine Assembly: The
incremental improvements in their
is compulsory for every products manufactured. It
machine parts and various
components of engine are
employee to give at least incorporates a series of continuous
assembled to make engines.
15 suggestions every small and simple improvements,
• Assembly: Various
which aim at involving employees
year. components are assembled in
at all levels.
the painted body to make
Maruti has achieved the 2. Suggestion Scheme: Under this
complete vehicle.
scheme, employees are encouraged
First Place in to make suggestions for
• Inspection: Assembled
vehicles are tested for their
“Excellence in improvement in any area of
functionality.
Suggestion Scheme operation. Over 50,000 suggestions
5. Constant Reminders: They focus on
are received from employees every
Contest 2003.” producing “Best Quality in First
year. It is compulsory for every
Attempt”. This reminder is placed
employee to give at least 15
in all the departments and sub-
suggestions every year.
sections of the company which
Maruti has achieved the First Place
gives the workers inspiration and
in “Excellence in Suggestion
motivation to work effectively and
Scheme Contest 2003.”
efficiently all the time.
3. Maruti Culture: Their employees
6. After Sale Service: To retain the
are their greatest strength and asset.
present customers, they provide
It is this underlying philosophy that
excellent after sale service. The
has moulded their workforce into a
parts of Maruti Models are always
team with common goals and
available at reasonable rates. It has
objectives.
216 vendors spread all over India,
4. Process: It is divided into eight
therefore, its customers do not have
broad heads:
to go far off to obtain the parts they
• Blanking: In this process, steel
need.
coils are cut into blanks of
7. Labour Turnover: Another
various shapes and sizes.
remarkable feature of Maruti is that
• Pressing: Blanks are pressed
it has very low or nil absenteeism
into various panels by presses.
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44
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amongst the employees. They are Kinetic Engineering, LML,
also given good incentives for their Mahindra, Royal Enfield, Telco,
work and if they take more than two TVS, Swaraj Mazda, Volvo.
unofficial leave, then the incentive 9. Models produced at Maruti Udyog
is zero. Ltd.: Maruti 800, Alto, Wagon R,
8. Major Players: The major Zen, Swift, Omni, Gypsy, Versa,
competitors are Bajaj Auto, Esteem and Baleno.
Daewoo Motors, DC Design,
On the whole, it was a very rich
Eicher Motors, Ford General
experience. The students had an
Motors, Hero Motors, Hindustan
interactive session with the HR Manager
Motors, Hyundai Ind. Auto Ltd.,
and all their doubts were clarified.
Words of Wisdom
ETHICS never be retrieved.
-J.K.Galbriath, American Economist
About morals, I know only that what
is moral is what you feel good after Uncertainty is nor a result of
and what is immoral is what you feel ignorance or the partiality of human
.
bad after knowledge, but is a character of the
-Ernst Hemingway world itself.
There is no such thing as business -M.Taylor
ethics. There is only one kind-you have
to adhere to the highest standards. STRATEGY
-Marvin Bower, Former managing However beautiful the strategy, you
Partner of McKinsey & Co. should occasionally look at the
Relativity applies to physics, not results.
ethics. -Sir Winston Churchill
- Albert Einstein, German born The best way to predict the future is
American physicist to create it.
If ethics are poor at the top, that -Peter F.Drucker, American
behavior is copied down through the Management Guru
organization.
-Robert Noyce, Inventor of Silicon LEADERSHIP
chip
Leadership is doing what is right even
when no one is watching.
RISK
-George Van Valkenburg
t
Take the first step in faith. You don’
have to see the whole staircase, just Life is like a dogsled team. If you
take the first step. aren’t the lead dog, the scenery never
changes
-Martin Luther King Jr.
-Lewis Grizzard.
A wrong decision isn’t forever; it can
always be reversed. The losses from a
delayed decision are forever; they can By Astha Arora
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ELDORADO 45
Yamaha Motors
India Pvt. Ltd.
Industrial Visit on 5th Sep 2005
○
SWATI MAHAJAN ivory coast and many others.) The main
○
PGDBM Ist Yr., B Company Visited-YAMAHA models include enticer DLX, crux S,
○
○
○
MOTORS INDIA PVT. L TD YBX, RX 135, enticer.fazer.liberoINT.
Parent name- YAMAHA MOTOR
○
THE YAMAHA MANUFACTURING
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CO L TD.JAPAN
UNIT HAS TWO HALLS
Functions- DEVELOPMENT,
1) ASSEMBLY HALL-where various
PURCHASE, SALE OF 2
components are assembled to form
WHEELERS AND ITS PARTS
We saw different a product followed by quality
AND ACCESSORIES
check.
sections in the assembly Market share- 4.1%
2) MANUFACTURING HALL-
room the decal room, Employees- 1920
manufacturing of frame by welding
Number of dealers-410
meter cowling, painted followed by fuel tank
Capacity-330000 MOTORCYCLES
manufacturing and machine shop
pasts for masking, parts Number of vendors-171
Production- 677 bikes in a day We saw different sections in the
after masking, dust
Investment –135 crores assembly room the decal room, meter
repair, engine assembly cowling, painted pasts for masking,
shop, assembly of head parts after masking, dust repair, engine
lamps, fuel tank
smoother. Each bike
W e got the privilege to visit
Yamaha motors, Surajpur.This
unit is 35 kms from our college.The unit
assembly shop, assembly of head lamps,
fuel tank smoother. Each bike needs 39
seconds for assembling. We found out
was established in 1985 in an area of that in the whole process of assembling
needs 39 seconds for
3269.920 sq.feet. We were given a warm there was only 5% defect. They
assembling welcome by the Yamaha staff members. followed the Kaisen and the total quality
We were shown slides and there was an management approach.
interactive question answer around. We
Production improvement direction
got a chance to talk to Mr. Deepak
1 Establish disciplined/ positive work
Narang –manufacturing head. The
culture
major models of bikes of this company
2 Education and training to rapidly
are RX-100, FAZER, LIBERO, and
build up capable work force
LIBERO LX.
System strengthening
IN 1960 Yamaha Motors had a joint
venture with the Indian partners Escorts Quality = ISO 9000
group, but in 2001 it became a 100% Certification
subsidiary of Yamaha motors co ltd. they Safety, Health = ISO14000/18000
have an export market. Exports include Establish parts supply-MRP fully
25 –30% of their production. They developed
export to 50 countries (Philippines, Sri Their cost reduction activities include
Lanka, Argentina, Mexico, Nigeria, Material cost down
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46
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New vendor layout
Std cost development
CE and VA/VE
Random
They have efficient shop operation Thoughts
• Labour productivity improvement
1. The positive thinker sees the
• Reduce loss
invisible, feels the intangible, and
• Energy saving planes
achieves the impossible.
• Consumables-consumption to
target 2. “When one door of happiness
closes, another opens; but often
What must be developed by managers we look so long at the closed
of their company- door that we do not see the one
• Teamwork-participation which has opened for us. “ -
• Common language
Helen Keller
• Plan do check action
• Leadership and ownership 3. “Treat a person as he is and he
“ We will strive to remains as he is, treat the same
PROFITS are earned by- person as he could be and he
achieve the customs Cost down will become what he should
delight by winning the Business stability be.”
High value added marketing
trust of our customers.” 4. ”Never fear shadows, it simply
YAMAHA Strategy in 2005 are means that there is light shining
• Achieve 2005 budget somewhere nearby”
• Complete problem solving
“ Our aim is to build in 5. “Do not set your goals by what
• Continuous improvement other people deem important.
high quality in all areas • New products Only you know what is best for
related to customer • Organisation development you...”
relationship.” THEY HAVE A CUSTOMER 6. “I cried for boots until I saw a
ORIENTED MANAGEMENT man who had no legs”
7. “There has never been a night that
“ We will strive to achieve the customs
could defeat sunrise”
delight by winning the trust of our
customers.” 8. “Circle: A line that meets its other
end without ending”
High Quality Oriented 9. Cherish your yesterdays, dream
Management your tomorrows, but live your
todays!
“ Our aim is to build in high quality in
10.Happiness is a present attitude,
all areas related to customer
not a future condition.
relationship.”
11.Tough times dont last, while
tough people do.
12.Genius is the product of
enthusiasm
13.We must always change, renew,
rejuvenate ourselves, else we
harden and weaken
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ELDORADO 47
Welcome to the
Coca-Cola Company
○
○
○
○
SWATI MAHAJAN The HR Manager –Mr. Subroto Roy of manager. Explore yourself. Rise above
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PGDBM Ist Yr., B Coca-Cola company, addressed us in the yourself. Let sky be your limit. He
first week of August. The Coca-Cola emphasized on the fact that if you dream
Company exists to benefit and refresh big, you achieve big. Just do your very
everyone it touches. Founded in 1886, best and make a difference. It helped
this company is the world’s leading me to have a positive attitude and
manufacturer, marketer, and distributor believe in myself and most importantly
of nonalcoholic beverage concentrates on my strengths.
You do not need to be a
and syrups, producing nearly 400
bookworm to be a He gave us the four golden rules to
beverage brands. Its corporate
become an effective and efficient
manager. Explore headquarters are in Atlanta, with local
manager
operations in over 200 countries around
yourself. Rise above the world.
1. HUMILITY-to maintain a humble
yourself. Let sky be attitude.
Sir, told us amazing facts like: 2. LOW EGO-have low self-esteem.
your limit. He 1. If all the Coca-Cola ever produced Self-praising is not recommended.
emphasized on the fact were in 8 ounce bottles loaded on 3. IRON WILL-we should not be
average-size route trucks passing a affected by ups and downs. Be
that if you dream big, given point bumper-to-bumper at a focussed in life. Never
you achieve big. Just do speed of 65 miles per hour, it would lose your focus.
your very best and take 5 years, 5 months and 2 days 4. READINESS TO TAKE THE
for all the trucks to pass. BLAME FOR FAILURES
make a difference 2 If all the Coca-Cola ever produced
I hope to keep these rules in my mind
were in traditional 8 ounce bottles
and achieve success.
and placed end-to-end, they would
reach all the way to the moon and Do not lose track and just have the
back 1,057 times over. conviction to give your best.
3 If all the Coca-Cola ever produced
He recommended us on reading the
were in traditional 8 ounce bottles
HARVARD BUSINESS REVIEW. It is
and placed side-by-side and end-to-
a monthly magazine. The topics written
end, to form a four-lane highway,
in it are highly researched.. I got
it would wrap around the Earth 82
motivated and read some articles like
times.
human sigma, joy vs success. After
His lecture emphasized on the practical reading this magazine I felt I have
aspect rather than the bookish gained additional knowledge which I
knowledge. could not have learnt through books.
According to him a successful manager You should have an intrinsic knowledge
is one with versatile personality. You do of anything you do. You should go till
not need to be a bookworm to be a the depth of the subject.
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48
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I learnt that research and development From this I learned that thinking is
(R&D) is required in everything that you important and education just supports
do. it. Explore the world.
We were shown an amazing project “ visions of the future are better than
work (slides and clippings) done by an dreams of the past”
management trainee at Coca-cola …………………………so now I have
company. That student had invented a vision and I see what I want to
new means to advertise the coca-cola. see…………
He advertised the brand in such a way
I am ready to take off my flight to
that it seemed that every home requires
success
coca-cola and it was a necessity good.
Needless to say, positive Importance of Prayer
thinking and positive
attitude is very in Management
Important for both
Prayer or “prarthana” is something tend to be more energetic and
management students
associated with yogis, ascetics and optimistic in our views.
and managers. So they old people. It is thought that prayer
Needless to say, positive thinking and
need to pray on a can be said and is said only by these
positive attitude is very Important for
categories of people. But it is not
regular basis. so. It is important for all classes of
both management students and
managers. So they need to pray on a
people, especially management
Praying does not mean students and managers.
regular basis.
performing all kinds of Now you might ask – “Management
Praying does not mean performing all
kinds of religious rituals. If you are
religious rituals. students and managers are so busy
busy, just remember a supreme power
people, how can they find time to
is behind you and try to concentrate
pray and how is it beneficial for
just for 4-5 minutes.
them”? To answer this question it is
necessary to understand the concept Praying and meditating not only
of prayer. If we analyze any religion change your attitude towards life but
on this earth, we’ll find that prayer also increases your memory-also
in any religion is saying or chanting very important for management
positive things about the supreme people.
power. Reciting positive things
So friends pray everyday for yourself
about the supreme power fills our
and a bit for me too.
minds with positivity and if done on
a regular basis, this positivity is Stuti Verma
deeply rooted in our mind PGDBM Ist Yr.
(subconscious mind) and then we Section B
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ELDORADO 49
Impact of Liberalization
on
Indian Capital Market
NITIN SHARMA Introduction: investors accompanying this growth.
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PARAG JAIN However, many problems, including
JAGMOHAN BATISH The change in India since the market lack of confidence in stock investments,
RITU JAIN liberalization of 1991 has been institutional overlaps, and other
PGDBM IInd Yr. extraordinary. The abolition of the governance issues, remain obstacles to
government-controlled “Raj” industrial the improvement of Indian capital
licensing scheme, the reduction of market efficiency.
import tariffs, and the initial opening of
The primary and the country to foreign direct investment The Indian capital markets have
secondary segments of set the stage for India’s emergence from witnessed a transformation over the last
its economic shell. As positive as these decade. India is now placed among the
the capital market mature markets of the world. Key
changes were, however, it is future
expanded rapidly possibilities that have potential investors progressive initiatives in recent years
in the country breathless with include:
anticipation. * The depository and share
However, many dematerialization systems that
Capital Markets in India have enhanced the efficiency of the
problems, including transaction cycle
lack of confidence in History of capital markets in India can * Replacing the flexible, but often
be traced back to 1875 when Bombay exploited, forward trading
stock investments, Stock Exchange was established. Today mechanism with rolling settlement,
institutional overlaps, India has 23 stock exchanges including to bring about transparency.
two national exchanges, BSE (Bombay * The infotech-driven National Stock
and other governance
Stock Exchange) and NSE (National Exchange (NSE) with a national
issues, remain obstacles Stock Exchange). The Indian capital presence (for the benefit of
to the improvement of market has experienced a process of investors across locations) and
structural transformation with other initiatives to enhance the
Indian capital market operations conducted to standards quality of financial disclosures.
efficiency equivalent to those in the developed * Corporatisation of stock
markets. It was opened up for exchanges.
investment by foreign institutional * The Securities and Exchange Board
investors (FIIs) in 1992 and Indian of India (SEBI) has effectively been
companies were allowed to raise functioning as an independent
resources abroad through Global regulator with statutory powers.
Depository Receipts (GDRs) and The Mumbai Stock Exchange
Foreign Currency Convertible Bonds continues to be the premier
(FCCBs). The primary and secondary exchange in the country with about
segments of the capital market expanded 6,000 listed companies and an
rapidly, with greater institutionalization average daily volume of about a
and wider participation of individual billion dollars. Many new
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instruments have been introduced Indian Capital Markets:
in the markets, including index Features Important for FIIs
futures, index options, derivatives • T + 1 settlement mechanism
and options and futures in select • Centralized listing authority
stocks. • Simultaneous dual listings
• Permission to de-list
Role of FIIs:
Mutual Funds:
Foreign companies/Individuals are
permitted to invest in equity shares The surge in foreign money inflow is
traded in Indian Stock markets if they boosting further the confidence in the
are registered as a Foreign Institutional Indian growth story, from both within
Investor (FII) or if they have a sub and outside the country. The FIIs are
account in India. finding good company in domestic
Mutual funds (MFs) in terms of inflow
Investment in Indian securities is also
in to Indian equity market.
possible through the purchase of Global
The growing spending Depository Receipts (GDR), American The MFs have outperformed the FIIs to
appetite of consumers is Depository Receipts (ADR), Foreign some extend during the latest rally. The
Currency Convertible Bonds and increased MF inflow in the recent past
one of the major
Foreign Currency Bonds issued by has been supported by a lot of money
catalysts behind most of Indian issuers, which are listed, traded raised through IPO finding its way to
the factors working in and settled overseas and mainly the market.
denominated in US dollars.
favor of the current Bull
Things like India’s strong GDP growth, Analysis of current Bull-Run
Run. The rise on the its companies that show global Unlike the previous rallies in the past
consumer spending is standards, the long-term outlook on the when foreign investors played key role,
dollar and interest rates in the US. Out
directly affecting the the current rally in broader based across
of all these there is one big advantage, the sectors and is being participated by
sales and profit which India has but other developing all market sections, including FIIs,
performances of the nations lack is world-class financial domestic mututal funds and retail
system. Indian capital markets are investors as well. The growing spending
business houses, while technologically comparable to any appetite of consumers is one of the
contributing positively advanced market. It has a strong major catalysts behind most of the
to the overall banking system, which caters to our factors working in favor of the current
markets and have all the modern Bull Run. The rise on the consumer
macroeconomic financial instruments like derivatives, spending is directly affecting the sales
scenario commodity derivatives, stable forex and profit performances of the business
market etc. houses, while contributing positively to
Today India is one of the favorite the overall macroeconomic scenario.
destinations for FIIs world over. These factors in turn add to the positive
Following table shows investment by business sentiments while attracting
FIIs in Indian capital market in last few funds into the market.
years The rising purchasing power, higher
Some features that specifically attract disposable incomes and improving
FIIs are : consumer sentiments are leading the
consumers eying high end products like
Plasma TV, Luxury cars, foreign
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ELDORADO 51
holidays. The picture is set to get even and business process outsourcing,
rosier going forward. A number of throughout the economy. Pension
sectors, including auto, bank, cement, reform will be important. Non-
construction, FMCG and technology are government provident funds (employee
poised for a robust uptrend in the near pension funds) have been allowed to
future. invest 5 percent of their new inflows in
shares and 10 percent in equity-linked
Another major factor in current Bull
mutual funds. Over the next few years,
Run is the growing interest in equities
this will funnel an additional 200 billion
as a major investment destination. The
rupees ($4.6 billion) into the stock
low interest rates are resulting in lower
market.
returns on investment in other traditional
instruments including post- office small To spur its growth, policy makers must
savings and term deposits in banks and improve liquidity and price
Mutual funds. Consequently investors transparency. The required steps include
are perking up their funds in equity as consolidating government debt issues to
alternative destination. establish a better yield curve and
Buoyant corporate improve liquidity, widening the
earnings results have Stability of SENSEX government securities market to include
nonblank participants, and letting
been one of the major The P/E ratio remains at comfortable dealers short-sell and thus take two-way
drivers of current rally low levels (around 16) after peaking as positions. It will also be necessary to
much as 60 in early 1990’s. While change the pricing of interest rate
in stock market. The
defying the misconception that the futures and to let banks trade them, to
market is being driven markets are overvalued, the fall in P/E allow repurchase-agreement
by high business ratio also proves that investors have transactions in corporate bonds, and to
gone conservative and not willing to pay develop the derivatives market. These
confidence, foreign higher price for stocks. reforms will allow India’s capital
money, copious Economic Growth and Corporate markets to evolve in more balanced
domestic liquidity, way. After the analysis it is clear that
Profits:
current Bull-Run in the capital market
return of small investors Buoyant corporate earnings results have is based on sound fundamentals and is
and optimistic earnings been one of the major drivers of current supported with regulatory policies.
rally in stock market. The market is Indian Corporate sector is poised for
forecast for current being driven by high business tremendous growth that is not
quarter. confidence, foreign money, copious concentrated in a particular sector.
domestic liquidity, return of small
Given the context Indian capital
investors and optimistic earnings
markets are poised for explosive growth
forecast for current quarter.
in future.
Conclusion
Equity and corporate-debt markets open 3 fastest modes of communication
new sources of funding for businesses,
cut their cost of capital, give savers new 1. telephone
investment options, and are essential to 2. television
financing pension programs. India’s
stock market already performs well. 3. tell-a-woman ……..
Now it must diffuse the success of
certain companies, such as those in IT
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