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Wednesday, September 18, 2013

Nawaz's task is cut out

Of all the problems facing Pakistan that Nawaz needs to tackle during his initial days in office, dealing with the energy crisis appears to be the priority, says Saurabh Kumar Shahi

When Nawaz Sharif took oath as Prime Minister for the third time, he turned a chapter in Pakistan’s political history. It was for the first time that an elected political dispensation took power directly from the outgoing government.

But the euphoria needs to give way to some serious governance, something that was in short supply in the last five years. After a short delay and power-haggling, the cabinet was also sworn in. A cursory look at the list of ministers, both cabinet as well as the MOS, indicate that PML(N) has balked at offering a revolutionary lot.

The list indicates that pragmatism and experience have won the day over political correctness. Therefore, unlike the previous ministry, one can just see two female ministers, both of them MOSs. Also, Nawaz has chosen efficiency and ability over regional considerations. Nawaz seems to have sent the message loud and clear that merit will be given the utmost priority.

Also, unlike PPP’s cabinet, Nawaz does not have the problem of plenty. He has won a lion’s share of his seats from Punjab while picking a couple of them from here and there, unlike the PPP of 2008 that almost swept Southern Punjab apart from its bastion of Sindh. However, that does not mean that there are no representations from other provinces. PML(N) bagged a lone seat from Karachi. Abdul Hakeem Baloch, the greenhorn winner, was awarded with an MOS berth. Sardar Yusuf has been made minister from KPK quota, whereas Abdul Qadir Baloch represents Balochistan. Similarly Pir Sadruddin Rashdi and Ghulam Murtaza Jatoi, both veterans from Sindh, have found their way to the cabinet. Kamran Michael, the minister of Minorities Affair, completes the rainbow. The other berths are almost equally divided among Northern, Central and South Punjab MNAs.

This includes political bigwigs who have supported Nawaz and the Party through thick and thin. Chaudhry Nisar Ali Khan as the possible Interior Minister, Khawaja Asif as Minister of Water and Power, Ahsan Iqbal as Minister of Planning and Development and Information Technology and Ishaq Dar as Finance Minister are good news. All of them are qualified and old hands in Pakistani political landscape.

Tariq Fatemi looks all set to work as advisor to the prime minister on foreign affairs whereas Sartaj Aziz will work as an advisor on the economy. However, Shahid Khaqan Abbasi as Minister for Petroleum, Oil and Gas can be considered bad news considering his reputation.

The single biggest challenge that Pakistan faces today, apart from terrorism, is the perennial power crisis that has affected the economy severely in the last few years. Pakistan has a current installed power generation capacity of around 24,000 megawatts (MW). However, the total generation is in fact less than 10,000 MW. The primary reason is attributed to Rs 1 trillion circular debts, which prevents the government from making payments to independent power producers on time.

“The new government is going to be ruthless in its management of all the public-sector energy companies,” says Zafar Iqbal Sobani, who headed Hub Power Company very recently and looks all set to become one of the advisors soon. “Expect to see many people summarily fired from these organisations as well as the ministry of water and power."

There are other serious concerns as well. Nawaz Sharif is close to the US and Saudi Arabia. Both these countries are trying to undermine Iran for strategic gains. The Iran-Pakistan gas pipeline that President Zardari championed amidst pressures of all kinds might face hurdles. The pipeline is essential for the survival of Pakistani economy. But if Nawaz decides to accommodate the wishes of his American and Saudi friends, it will become an issue of contention. “Here comes the test for the new government as to how well it can advocate its cause and the urgent need of energy to sustain the economy as well as quell growing social unrest. It would require even more vigorous diplomacy with the US. Our national interest must precede all other imperatives,” says Raza Runi, director of Jinnah Institute.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Friday, September 6, 2013

Where the past breathes again

For a decade now, the past has been coming alive every May on the Croisette, with the Cannes Film Festival showcasing restored prints of cinematic masterworks in its Classics section. So, even as the glitzy French Riviera event celebrates the finest and the most provocative of contemporary films, it also turns the spotlight on the steadily spreading global campaign to save world cinema heritage through the systematic restoration and digital re-mastering of old movie negatives.

The festival, in its 66th edition, has expanded the scope of the Cannes Classics sidebar to include 20 full-length features films and three documentaries. Among these films is Satyajit Ray’s iconic Charulata (1964), based on a Rabindranath Tagore novella. Its screening will be part of the Cannes celebrations of the 100th anniversary of the Indian film industry.

Many landmark films like Joseph L. Mankiewicz’s Cleopatra (1963); a 3-D restored print of Bernardo Bertolucci’s The Last Emperor (1987); and a mint-fresh print of Alfred Hitchcock’s Vertigo (1958) will be unveiled in the course of the festival, which runs from May 15 to 26.

Also in Cannes Classics this year are two French Nouvelle Vague (new wave) path-breakers – Alain Resnais and Jacques Demy. The latter’s Palme d’Or-winning 1964 film, The Umbrellas of Cherbourg, the restoration of which was supervised by his 84-year-old widow, celebrated filmmaker Agnes Varda (herself a Nouvelle Vague pioneer), her daughter, Rosalie Varda Demy, and son Mathieu Demy.

Resnais, 90, competed for the Palme d’Or last year with You Ain’t Seen Nothin’ Yet and is set now to start shooting a new film, Aimer, boire et chanter, based on British playwright Alan Ayckbourn’s Life of Riley.

Hiroshima Mon Amour, made in 1959, was Resnais’ first fiction film and a major catalyst for the French New Wave. The film, “reborn in sparkling digital form”, will be a major highlight of Cannes Classics 2013.

So will Jean Cocteau’s La Belle et la Bete (Beauty and the Beast), which was selected for the very first Cannes Film Festival in 1946. A digitally re-mastered print will be screened to mark 50 years after the death of the influential writer, poet, filmmaker and painter who had an active association with the festival in the 1950s.

“As cinema’s link to its own history was about to be turned upside down by the arrival of digital and because films from the past are an integral part of the Festival de Cannes, 2004 saw the creation of Cannes Classics, a programme presenting old films and masterpieces from cinematographic history that have been carefully restored,” the festival’s website declares.

“A natural, vital part of the Official Selection – and an idea which has made its way into other international festivals – Cannes Classics is also a way to pay tribute to the essential work being down by copyright holders, film libraries, production companies and national archives throughout the world. Thus, Cannes Classics lends the prestige of the Festival de Cannes to great works from the past, accompanying their release in theatres or on DVD.”

The screening of the four-hour-plus Cleopatra will be hosted by Hollywood star Jessica Chastain (Coriolanus, The Tree of Life, Zero Dark Thirty) and attended by Richard Burton’s daughter Kate Burton and Elizabeth Taylor’s son, Chris Wilding. The restored print of the film goes into distribution from May 22 in the US and elsewhere in the world.

Eighty-year-old Kim Novak is slated to be a guest of honour of the 66th Cannes Film Festival for the screening of Vertigo, a film that is generally regarded as the defining work of Hitchcock’s career. She will also attend the closing ceremony of the festival and give away one of the awards.

Legendary Japanese director Yasujiro Ozu died 50 years ago, in 1963, but that isn’t the anniversary that Cannes Classics is observing this year. Instead, the screening of his 1962 film Sanma No Aji (Autumn Afternoon) commemorates the 110th year of his birth.

Autumn Afternoon was Ozu’s final film – he died the following year. But his reputation has continued to grow over the years thanks to the many formal innovations he made in the art of cinematic storytelling and in the use of a stagnant camera often looking up at the actors.

Autumn Afternoon featured Ozu regular Chishu Ryu in the role of a widowed patriarch supervising the wedding of his daughter.

Cannes Classics will also honour 83-year-old Joanne Woodward (although her participation in person has not been confirmed yet) with a screening of the 2012 documentary, Shepard & Dark. The film about American playwright and actor Sam Shepard’s 50-year friendship with comedian Johnny Dark was produced by Woodward, renowned actress and wife of Hollywood icon Paul Newman from 1958 until the actor’s death in 2008.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Wednesday, June 5, 2013

Splurging on politics

Nitish Kumar’s yatras are proving costly for the state exchequer, reports Sanjay Upadhyay

Unbeknownst to the world outside, Bihar Chief Minister Nitish Kumar is in the process of carving a new avatar for himself – the avatar of a yatri or a traveller who undertakes visits to further a cause. It may well be true that the credit of popularising political yatras goes to BJP veteran LK Advani, but its most modern incarnation is this rising backward leader with national aspirations.

In the recent past, Nitish Kumar has headed a number of such yatras or travels to mobilize public opinion. There have been Viswas Yatras, Vikas Yatras, Seva Yatras and Adhikar Yatras. Just recently he finished a similar baptising mission to Valmikinagar and is slated to leave soon for another destination.

Like the ancient Magadhan king chalking out his plans to see firsthand the situation in his countryside, Nitish is doing it with gusto. There can scarcely be an eyebrow raised if a politician uses these vote catching measures in a democracy before impending General Elections; it becomes quite another matter if party work is being conducted at the expense of the state exchequer, because that is precisely what is happening in Bihar.

Naturally, if a chief minister travels anywhere in the state, he cannot do so without a jumbo team of bureaucrats who accompany him along with their rather steep expenses. Traditional circuit houses, once the mainstay of travelling officials, have given way to swanky hotels. Add to it a fairly lavish entertainment allowance that the babudom believes it is their birthright.

Some details with TSI obtained through an RTI reveal an interesting picture. In Begusarai district during the CM’s Viswas and Vikas Yatra, the district administration coughed up upwards of Rs 3.33 lakh; the district administration of Khagaria spend Rs 2.82 lakhs while in contrast, the Muzzafarpur district administration put out Rs 31.96 lakhs by way of expenses. In the course of the CM’s Seva Yatra in Banka, the total amount spent was Rs 21.22 lakhs.

According to RTI information, Nitish’s Vikas Yatra in Bhagalpur cost Rs 67, 751; the money spend on his Viswas Yatra in the same district had gone up to Rs 3.33 lakhs but the Seva Yatra to the same place took the cake: Rs 21.69 lakhs!

RTI information reveals the same pattern. In Purnea, for instance, the Vikas Yatra cost Rs 6. 74 lakhs, the Viswas Yatra Rs 2.14 lakhs but on the Seva Yatra, the district administration spent over Rs 10 lakhs.

There are other interesting tit bits that RTI replies reveal. In Muzzafarpur, officials ordered a TV on rent for a whopping Rs 53,000! In a flat three days there, the official entourage including officials, aides and security detail had gobbled up food worth close to Rs 9.90 lakhs. On an earlier Viswas Yatra to Araria, a modest Rs 90,000 had been spend during the course of a single day.

Presumably, in an effort to restore working order, Rs 1.45 lakh was spent on repairing furniture at a guest house and a new sofa set worth Rs 1.7 lakhs installed for visiting dignitaries’ in Muzaffarpur. Over and above, another Rs 2.6 lakhs was splurged on refreshment and lodging.

The opposition naturally sees in this an opportunity to attack a CM who is generally the toast of Bihar – and even of the country – as his recent anti-Narendra Modi stand has shown. Some activists allege that MNREGS money has been used during such trips. The charges have gathered momentum after a reply in the affirmative was given by the district rural development authority, Muzaffarpur, when asked if MNREGS money had been spent during the CM’s Yatra. Later, the department told this magazine that the reply ``was a clerical error’’ and that it had since then been rectified.

Nonetheless RJD MP, Ram Kripal Yadav has demanded a high-level probe into the alleged use of MNREGA funds. “There should be intensive review of all Yatras done by the CM. This is a case of embezzlement. These are Mewa Yatras (just deserts),” he says.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Monday, June 3, 2013

Fighting the Hunger pangs

Scams in ICDS projects can ruin India's human capital

When on the one hand India is adding to its indigenous list of billionaires in Forbes’s list and other journals it is also increasing the count of hungry children that is such an embarrassment for a country of extremes such as ours. Worse, the money allocated to mitigate the malaise is being diverted and misappropriated by the vested interests involved. It’s a worst form of socio-economic malady and a shame for the nation that should have raised the eyebrows of our institutions and administrations – but it didn’t!

India’s Integrated Child Development Services (ICDS) has been unable to stem the rot in the system and must be revamped. It must be revamped because it is not armed with the power to monitor the government’s role in fund utilization. The funds released by the Central government are often misused by the states, denying the children the benefits of ICDS schemes. The worst offenders are the governments of Bihar and Jharkhand that through a nexus of politicians and bureaucrats diverted funds meant for nourishment of impoverished children. The mid-day meals are denied to school children and finances for the same are diverted to the fat pockets of the stakeholders! It has been a practise that has plagued not only to the two states mentioned but has been prevalent across the country in varying degrees. There are allegations of audit mismatch in the internal function ICDS too. The audit report notes that Rs.57.82 crore is diverted to the non-permissible schemes of ICDS in five test-checked states. There are further reports of fund diversion to the tune Rs.70.11 crore that have been parked elsewhere. The reports of poor infrastructure to deliver the schemes only add to the problem – 61% of the test-checked anganwadis in operation under the ICDS do not have a proper building of their own and 25% manage it through covered shelters. The unsettling effect continues with the vanishing medical kits in 33-49% of the anganwadis due to failure of the state governments in spending funds released by the Centre. Also 26% of the children’s weighing machines and 58% of the adult weighing machines failed to make it to the centres. The essential utensils required for providing supplementary nutrition to the beneficiaries are also not available in many places. A new survey conducted by Citizen's Alliance against Malnutrition and the Nandi Foundation drives home the shocking reality check that despite India’s economy tripling since the beginning of this century, the level of child malnutrition has not dropped. More than half of all child deaths are associated with malnutrition, which weakens the body's resistance to illness. The Nandi Foundation survey revealed that 42% of Indians under the age of five are underweight – a manifestation of inadequate nutrition.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Sunday, June 2, 2013

Proxy war rages in Karachi

Pakistan has become a playground for global players and the main issues affecting common people have been overlooked, reports Shahid Husain

More than 45 innocents, including those hailing from the majority Muslim Sunni sect, were killed and 135 injured when marauders struck again at the thickly-populated entrance of Abbas Town on Abul Hasan Ispahani Road in Karachi at about 6.50 pm on Sunday evening.

A visit to the site by TSI presented an unbearable and grotesque picture. The powerful bomb had ripped two apartment buildings namely Iqra City and Rabia Flowers situated on opposite sides of the road. The target obviously was Abbas Town but religious extremists could not reach there and preferred to bomb the entrance of Shia-dominated Abbas Town.

Tragically, even by Monday morning, when the TSI reporter was present there, there were no security personnel in sight.Maulana Talib Jauhiri, a Shia scholar and Senator Faisal Raza Abidi, of the ruling Pakistan People’s Party (PPP) visited the crime scene but top political leaders preferred to give statements from the safety of their offices.

The City District Government Karachi (CDGK) led by the Muttahida Qaumi Movement (MQM) did a commendable job in removing the debris. Similarly, Edhi Ambulance Service and Chippa Ambulance Service played their usual dynamic role in shifting the dead and the wounded to public and private sector hospitals. Doctors, nurses and para medical staff too did their best and salvaged the situation under great odds and stress.

By all counts, this latest outrage is part of the deadly proxy war which has been going on in the sprawling port city of Karachi with an estimated 20 million population. The Americans and NATO forces after having lost the so called “War on Terror” in Afghanistan are too eager that the deadly weapons they used there do not fall into the wrong hands.

The previous Afghan War against Soviet Union was fought with the help of drug money. In turn it has brought misery to the people of Afghanistan and Pakistan. Pakistan happens to be the transit point of drugs and arms smuggling and that was why President Barack Obama asked the Chief of the Army Staff General Ashfaq Parvez Kayani to “do more.” The armed forces of Pakistan fully aware that they will have to bear the brunt of the fall out of the Afghan War, are moving cautiously and dictating their terms.

A senior American journalist wrote a couple of years ago that the US itself creates a monster - and then it fights it. This is how its war and arms industry has flourished and unprecedented employment created there. But this war expenditure has almost crippled the US economy; recession is at its peak and millions are surviving on food stamps.

A former US national security advisor wrote some time ago that it was easy to deal with President Asif Ali Zardari because he has no hang-ups. Unlike twice Prime Minister and chairperson PPP Benazir Bhutto, her husband, and the party's Founding Chairman Zulfikar Ali Bhutto, Zardari does not suffer from delusions of grandeur. Eleven years in prison and exile have transformed him into a shrewd politician.

With millions in search of jobs, including highly qualified Pakistani youth and inflation at its peak, why would the army stage a coup? General Kayani, a former ADC to Benazir, has shown remarakble restraint.

The flooding in Sindh and Balochistan in 2010 and 2011 uprooted millions of rural households, hit the tribal and feudal structure in these impoverished provinces and also induced demographic changes. For the first time, these uprooted people lived the lives of their more urbane brethren, sent their children to schools and enjoyed healthcare despite being condemned to live in make-shift camps provided by international NGOs. Their standing crops were destroyed and a large number of flood victims were not ready to go to their ancestral homes. Hence demographic changes have taken place in cities such as Karachi and Hyderabad.

Since the creation of “New Pakistan” in 1972 when President Zulfikar Ali Bhutto took over the reins of power and the kick started the “Dubai Syndrome”, millions of plumbers, technicians, labourers, doctors, nurses and engineers opted for the Middle East.

Their remittances brought rich dividends to their families back home but along with remittances came a conservative culture and a brand of religion that was radically different than the tolerant religion in the 1950s and 1960s when Muslims, Christians, Hindus, Parsees and other minorities lived in peace and harmony.

In sharp contrast to migrants who have moved to the US, Canada, Germany, France, Australia, New Zealand, Britain, Sweden, Norway and other advanced western countries, overseas Pakistanis who toiled hard in the Middle East brought with them money - along with big doses of conservatism.

Little wonder that the Pakistani society was Talibanised. The conservative mindset not only asserted itself in the Federally Administrated Tribal Areas (FATA) and the northern areas of Pakistan, but even in the country's financial hub Karachi that happens to be amongst the 10 largest cities of the world.

This mindset came to dominate the middle classes - lawyers, judiciary, doctors, journalists, teachers and even the armed forces. Little wonder that former Chief of the Army Staff and President General Pervez Musharraf failed miserably to undo the religious extremism promoted by Pakistan’s worst military dictator, General Zia ul Haq. The poisonous seeds sown by the general have now become a full-fledged, vast tree which is threatening the very fabric of the Pakistani society.

Ethnicity, sectarianism, intolerance and chaos prevalent in the country today are essentially remnants of the Zia era. It has manifested itself in many ways: there has been resistance to the anti-polio campaign and conspiracy theories dominate the thinking pattern in Pakistan today. The media, social media and civil society too have played a role. Greed has become the domin

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Friday, May 31, 2013

The artisan as artiste

A third-generation maker of Indian classical music instruments, Sanjay Sharma brings a high level of technical proficiency and creative innovation to a traditional craft. Arundhuti Banerjee catches up with this inheritor of a glorious legacy to figure out what keeps him going in the face of proliferating challenges

Pandit Ravi Shankar would probably have had to stop playing the sitar six years before he passed away had Sanjay Sharma not specially crafted a studio sitar for the legend.

In 2005, Pandit Ravi Shankar suffered a bout of pneumonia, which weakened his left shoulder to such an extent that that it cramped the upward movement of his hand. He faced the prospect of a permanent break. Sanjay, a disciple of the sitar maestro, stepped in with a solution for his guruji.

“I got a call from Chinamma (Panditji’s wife, Sukanaya Shankar) informing me of the problem. I went to guruji’s place with a solution in the form of a studio sitar,” recalls Sanjay, who has also crafted several other new generation instruments like the Z-tar and the E-rod and fusion instruments like ‘Lalita Veena’ and ‘Suroleen’ (a fusion instrument that combines the mandolin and the sarod).

Music is divine, it is said. But the connection that the soul makes with the world of musical sound would be impossible without a quality instrument serving as a link. So, when the younger generation is in thrall of the music that is proffered by Channel V and Coke Studio, Sanjay designs fusion instruments and upgrades classical music instruments with the help of modern technology.

“The idea behind redesigning and adding new technology to our age-old traditional instruments is to keep our musical culture alive and involve and attract the younger exponents. Even if they are interested in fusion music, they should have a supportive instrument for the purpose,” explains Sanjay, sitting in his Bhagat Singh Marg shop, Rikhi Ram’s Music, named after his grandfather, a man who started his journey as an instrument maker in 1920 in Lahore.

Sanjay’s father, Pandit Bishan Dass, continued the family tradition of instrument making and emerged as a trendsetter in the matter of innovation in this field. In 1998, he was honoured with the Sangeet Natak Academy award for his contribution in the field of musical instrument making by the then President KR Narayanan. Though it was a certainly token of appreciation from the government, Sanjay still feels that classical instrument makers do not get their due recognition.

“My father faced great difficulty in find a bride for himself. Since the family spent most of the time in a factory working with wood and other materials, people thought that we were carpenters! Thank God, times have changed and I did not face this kind of problem when I was looking for my life partner,” laughs the father of two teenagers.

Sanjay began as a tabla player – he had a Master’s degree in Music with specialization in the instrument – and toured many cities as a performer. He also learnt sitar from Pandit Ravi Shankar, so it was an easy choice for him to continue as a musician. However, when his father grew old it was his responsibility to continue the family legacy. His guruji encouraged him to take over the reins of the family business.

Since Sanjay and his father were always associated with music maestros in India and abroad, he did not face much competition in terms of the quality of his instruments. The only competitor they had was Hiren Roy, an expert craftsman in Kolkata. But the latter’s work suffered due to lack of efficient craftsmen who could continue the legacy of those glory days. Many shops have closed down or couldn’t measure up to the professional quality required. So after Roy’s death in 1942, they went into sharp decline.

The problem in our country is there are many music colleges but no institutions or professional infrastructure for instrument making. And it creates an imbalance in quality of music instruments. They are either exceptionally good as those produced by Rikhi Ram’s – these instruments can be played through an entire lifetime with proper maintenance – or of very poor quality and do not last more than five years. Creating and maintaining instruments of a high professional quality, skilled craftsmen are needed.

“To be a good instrument maker one has to have in-depth knowledge of music, understanding of the science of sound, a grasp over the nature of physics and modern technology and, last but not least, a creative mind to apply all these elements effectively,” he explains.

He adds: “All my specially designed instruments like the ‘E-rod’, ‘Z-tar’ or ‘Suroleen’ came as solutions to specific technical problems that musicians were facing in their bid to experiment with sound. For instance, E-rod is an electronic sarod, which will help with its sound outputs for fusion music concerts where drums, guitars and other instruments play with it. Since it is an acoustic instrument, it was difficult to get the sound across. E-rod is a solution to that.”

“The trick I used for electronic sitar was an in-built microphone inside the instrument which helps to play for a fusion platform as the sound will amplify by the mic. It was a specially designed sitar for Anoushka Shankar when she was working on her fusion album ‘Travelers’. I applied this in-built mic theory for tabla as well,” he adds.

His skill is beyond doubt. But making these quality musical products couldn’t be cheap. How does he address the issue of costs? With no help forthcoming from either the government or other sponsors, he fights a lonely battle. Sanjay has an NGO, Sanjay Rikhi Ram Vadya Parampara, which works for the cause.

Indian instruments like the sitar, sarod and santoor are far more delicate than western instruments like the violin and guitar. So they take time to make. A sitar takes two months to be made. The seasoning of the wood takes at least 25 years and it is a costly process. The older the wood the more long-lasting is the instrument. And the older the wood, the more expensive is the instrument.

The problem the instrument making industry is facing is due to the lack of knowledge that new comers have. The difference between a good and bad instrument is not the look of it but the sound quality and the longevity. An instrument is a ‘lifetime investment’ in Sanjay’s vision. Therefore, when a student or musician buys an instrument, he/she should have the knowledge to define the quality of the instrument by its sound, wood features, strings and shape.

Read more....

Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

BBA Management Education

Thursday, May 30, 2013

Time to Get proactive

It is in India’s interest to come out in the open and help restore regional balance

The conditions in Afghanistan are quite uncertain and in this complex situation, it is important that we keep our focus very clear. There are enough indications that the Pakistan Army and its Inter Services Intelligence (ISI) are going to try to install a pro-Pakistan government in Kabul. Once US troops depart, things are going to become difficult for its President Hamid Karzai, who may find himself besieged when Pakistan goes all out to help install a Taliban leader as its choice to head the government. There are other pro-Pakistani elements in the country who would be more than willing to lend a helping hand.

The US is vacating the country at a time when the Afghanistan National Army and it security set-up is neither complete nor fool-proof. If this very important tool of the government is weak or not effective enough, it will present serious difficulties in governing the country and to take things forward.

The situation will be aggravated with the popularity of Hamid Karzai, who despite being the most credible leader in that country at the moment, will face serious fragmentation of leadership under a new political dispensation. This big window of uncertainty will give space to Pakistan to
manoeuvre events according to its needs – and the needs of its allies.
It the eventuality of such a scenario developing, the threat perception to India’s national security would increase manifold. It is important therefore that New Delhi does everything required to ensure that its vital interests are safe and secure.

There is nothing wrong in coming out in the open to take a position which is in her self-interest and the well-being of Afghanistan which was India’s neighbour before Pakistan came into existence.

India has done serious ground work to bolster Afghanistan’s most important sectors; agriculture, education and health. It is making a difference to the lives of common people. I don’t think we should be shy of taking a stand nor reduce our role to make things better for the country and its people. We are a regional power and we have tremendous responsibility in this region. The country has been taking steps in Afghanistan, short of military support, but has avoided taking a public position. It is important that we do so keeping the regional balance of power in mind. Problems, if allowed to fester, have long-term consequences for us and the region.

Afghanistan is the gateway to central Asia, a strategic position which can help her to regain part of her economic base. India can assist in building infrastructure and conducting trade and other economic activities which will help both the friendly countries.

Economic activity needs to be given utmost priority, for only when the country generates its own revenue will it be able to fund its security forces and dedicate money for the much- needed infrastructure which will enforce the writ of the government. Once this cycle is set in motion, it will pay rich dividends and set the ground for Afghanistan’s revival.

It would also be instructive to remember that given half-a-chance, China will walk in and Pakistan will take their ‘help’ in securing what they consider their vital interests in Afghanistan. India needs to reassess its ongoing projects to find out areas where it can increase its support. For example, it can raise the number of people from the Afghan Security Forces being trained in India. There are a number of students from Afghanistan studying at important educational centres in India. We are already training professionals, including engineers, journalists and civil servants, who will contribute in raising a strong democratic set-up in their country.

We have always enjoyed good relations with the Afghan people and our diplomats and intelligence agencies have always found support in that country. It should be put to good use. This becomes doubly important when Pakistan is grappling with a number of serious issues – some which have the potential to tear it apart. If Islamabad, to divert attention from its own insurmountable problems, is able to meddle in the already muddied situation in Afghanistan, it will be detrimental to the interest of the people there.

Read more....

Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Friday, May 10, 2013

How will the ‘Age of Big Data’ affect management?

Will access to Big Data further enable fact-based decision-making or analysis paralysis? Will analytics, as well as the supply of analytics-savvy managers, so badly lag ‘big data’ that it will only lead to confusion and misguided decisions? An exclusive HBS Working Knowledge article.

Ideas and trends converge from time to time in a way that suggests the possible shape of the future. Sometimes I think I can comprehend what they may mean. But other times I know I need help. This is one of those times.

Just two decades ago, we didn’t have Google and other information sources; storage constraints would not have permitted Google to provide everyday access to the ‘world’s information’. If we had had the information, we couldn’t have accessed it effectively anyway. Email systems were not widely available, let alone mobile devices with capacity to access the data. Now the capacity to store and access information through cloud computing is so great that we are entering a post-Google era in which new organisations like Factual (founded by a former Google employee) have set as their goal that of providing access to all of the world’s facts. Presumably this means data such as the location of every factory in the world, data that has not already been massaged and spun. Some facts have to be acquired and organised. Other facts are generated by so-called digital sensors operating worldwide in industrial equipment, autos, and the like. By linking the sensors, an ‘industrial Internet’ can be created. These trends appear to have ‘opportunity’ written all over them, particularly for those who are training now for jobs in data analytics. In addition to less wasteful marketing efforts (we should be able to know, for example, ‘which half’ of advertising is effective, thereby making an old marketing saw obsolete), they should produce more effective business strategies and inject added certainty into the appraisal of opportunities for new business startups. Furthermore, analytics (not the data) should be a source of continuing competitive advantage. In his new book, Charles Duhigg describes how the retailer Target uses data on consumption patterns to discern and address promotions to pregnant customers, perhaps even before they’ve announced their pregnancy to friends (and Target competitors). This is particularly important because pregnancy is one of those life events associated with significant shifts in consumption habits.

A problem is that the shortage of experts in data analytics (some call them ‘data whisperers’) is so acute that it may be years before a sufficient supply can be trained. The McKinsey Global Institute estimates that up to 190,000 are needed now in US, along with 1.5 million managers capable of using their work. The shortage appears to be growing along with the potential for competitive advantage associated with data analytics.

This all raises many questions. Will the age of big data eliminate most or all uncertainty from business decisions for those most able to make effective use of ‘all the facts in the world?’ Will it fuel the next ‘gold rush’ for talent in a quest for competitive advantage? Will analytics, as well as the supply of analytics-savvy managers, so badly lag ‘big data’ that it will only lead to confusion and misguided decisions? Or is this just the latest management fad? How, if at all, should this affect education for management? What do you think?

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

ExecutiveMBA

Thursday, May 2, 2013

“Government is positive”

Rakesh Mehta Assistant Research Manager, Fullerton Securities & Wealth Advisors.

B&E: Much was expected from the EGoM. But with just 23% slash in the reserve price, what are your thoughts?
Rakesh Mehta (RM): Telcos were expecting drastic reduction in reserve price for the 1,800 MHz spectrum by around 80%. But in the EGoM, the price was reduced by around 20% to Rs. 140 billion for 5 MHz spectrum. I think the major reasoning was the flexibility given to the operator to pay the stated amount in 10 years and in instalments (operator needs to pay one third of the amount in the first year, followed by a two year moratorium and the balance over the next seven years). Moreover, the operators are free to offer any service on this spectrum (mobility service, data service et al), mortgaging of spectrum et al.

B&E: What are your expectations on the upcoming auction?
RM: The top five operators have seen a decline in revenue per minute over the last two years. Moreover, due to 3G auctions, balance sheets are too leveraged with very less option to raise additional loan at attractive costs. Telcos planning to participate need to work on the pricing and business model. There will be pressure from incumbent operators that they will overbid for the spectrum so that it is unviable for new operators. On the contrary, incumbent operators will have to be ready to pay higher charge for spectrum re-farming. The government is confident that the auction will be successful even at a reduced base price of Rs. 140 billion as some telcos have hinted that they will bid aggressively, taking the final price to Rs.200 billion.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

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Saturday, April 27, 2013

Marx, Lenin, Mao, Castro... R.I.P.

It was touted as the grand idea that would secure the future of societies for generations to come.What went wrong?

Che Guevara, in his famous book, The Motorcycle Diaries, wrote, “I knew that when the great guiding spirit cleaves humanity into two antagonistic halves, I will be with the people.” Che surely would have been surprised by how difficult that so-called ‘communist’ choice has become in today’s world! In fact, communist regimes across the world often seem far more anti-communist in nature than the real anti-communists! Karl Marx, the father of communism, who proposed, “From each according to his abilities, to each according to his needs,” would have been loathe to see his ideology so ruthlessly destroyed.

Well, the communist ideology that strives for an equitable State seems pristine on the face of it. Sadly, historically, communists across the world have more or less used the guise of communism to in reality maintain dictatorial rule. Neither would have Karl Marx imagined this morbid metamorphosis of his ideology, nor would he have recommended the shocking usage of force to brutally suppress the so-called anti-communists (in reality, the anti-dictatorship proponents).

If communism in USSR came to be better known for the Stalinistic Great Purge and random executions, the same in Yugoslavia became utterly farcical with Tito adorning himself with the ‘President for Life’ title in 1963. Both these regimes got broken up purely because of this rabid need of the communists to retain power.

Factually, those are communists themselves who, due to their tyrannical and fanatical insecurities to retain power, have forced global masses to choose the less than perfect – and in reality, utterly incompetent, anti-social and unworkable – combination of democracy and capitalism.

Worse is the fact that in case communists had in reality worked for the masses, then they would have retained power even during democratic elections. Clearly, most communist regimes never actually worked towards the equitable quotient. But some did, and creditably.

The Cuban case is classic evidential material on this. One of the main reasons the Castro clan has been able to retain power almost non-violently has been because they’ve stuck to the cause. Cuba beats many Western nations on human life indicators, what to talk about third world countries. With an 18% of GDP investment in education, Cuba attempts to educate almost 100% of its children equitably. That is the reason Cubans in reality appreciate the socio-communist ideology. In one perspective, even the Chinese Communist Party has been true to the ideology – more poor have been lifted above the poverty line in China in the latter part of the last century than ever has been done in the history of mankind in any nation. Unfortunately, the more tyrannical it becomes, the more the Chinese Communist Party is digging its own grave and that of the nation.

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Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

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Monday, April 15, 2013

Why their marriage hit the rocks

Marriages between carmakers are not made in automotive heaven – the latest alliance to have soured is between Suzuki and Volkswagen. A formal divorce is awaited but Suzuki has already embarked on a new relationship with Fiat.

As Osamu Suzuki, Chairman & CEO, Suzuki Motor Corporation and Martin Winterkorn, CEO, Volkswagen AG, took the stage on December 9, 2009, industry watchers were all agog as they waited with bated breath for some game-changing announcement to be made. But nobody had a clue about what was to follow. Minutes later came the news that the German auto giant Volkswagen (VW) had bought a 20% stake in Japan’s Suzuki Motor Corporation, in a deal worth $2.5 billion. On the face of it the deal looked convincing and a winner for both the parties – Suzuki could get its hands on diesel technology from Volkswagen and in turn the German auto major could employ Suzuki’s small-car expertise to expand its presence in the Asian markets.

Cut to 2011 and both Suzuki and Volkswagen seem to have already given up on the deal. Much to the disappointment of both partners, nothing has moved over the past two years. Worse, relations between Suzuki and Volkswagen have begun fraying and trust between the parties has become the obvious casualty. In fact, in recent months the two players have even taken potshots at each other with Volkswagen claiming that Suzuki had breached a pact by agreeing to a diesel engine deal with Italy’s Fiat on September 11, 2011. That charge seems to have ruffled quite a few feathers in the Suzuki camp which, despite its conservative style, decided to hit back. Osamu Suzuki called a press conference on the next day itself to demand a “divorce” from VW. And the elderly chairman minced no words in giving vent to Suzuki’s concerns about becoming just another sub-brand in VW’s global empire. “I thought they understood that being a partnership of equals was important,” Suzuki remarked at the press conference, not without a hint of irony.

Industry sources believe that the alliance suffered a setback after Volkswagen referred to Suzuki to as an “associate” in its 2010 annual report released earlier this year. The report went on to add that Suzuki was an ‘associate over which Volkswagen has significant influence on financial and operating policy decisions.’ That definitely did not go down well with the Japanese automaker, which took it as an insult to its independent working culture. Recently, Suzuki sent a letter to Volkswagen setting September 30 as the deadline for the German automaker to revoke its statement about the breach of contract.

After Volkswagen bought out a debt-ridden Porsche in late 2009, many had expected the German automaker to go slow on M&As. But with its stated ambition to reach the No. 1 spot globally by 2018, Volkswagen wants to plug all the possible gaps in its strategy. But in the case of Suzuki, perhaps it could have done wth a bit more due diligence before pulling out the cheque book. “Co-operation never really got off the ground. Why? Not clear. Cultural issues, but probably also both partners want different things from each other. Clearly, VW saw itself in the leadership position which Suzuki did not want,” says Christian Breitsprecher, Equity Analyst, Macquarie Securities.

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Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

Saturday, April 13, 2013

B&E This Fortnight

INTERNATIONAL
BUSINESS, ECONOMY & FINANCE
Us debt deal done

After months of political wrangling and partisan posturing by both Republicans and Democrats in the Republican-led House of Representatives, President Barack Obama and his team were finally able to cut a deal that allows the US to trim its bulging deficit and raise the $14.3 trillion debt ceiling by more than $2 trillion in extra borrowing power, which will last till 2013. The agreement reached paves the way for $2.1 trillion in spending cuts spread over 10 years and creates a congressional committee to recommend a deficit-reduction package by late November. But the deal does not include any tax increases that Obama had pressed hard to include. Had this last-minute deal not come about, it would have led to a historic US default on payments to investors in Treasury bonds, recipients of social security pension checks, those relying on military veterans benefits and businesses that work for the government. Now that an agreement has been sealed, though after much fractious debate, the US and the world can breathe easy. It will help preserve America’s top notch credit rating, reassure investors in financial markets across the globe and possibly reverse the losses that spread across Wall Street in recent days as the threat of a default grew. However rating agencies may still downgrade America’s current AAA debt rating on concerns about the struggling US economy.

Sprint-lightsquared
The US’s first integrated 4G-LTE wireless broadband and satellite network, LightSquared, has announced a $9-billion network hosting deal with Sprint Nextel. The deal covers spectrum hosting and network services, 4G wholesale, and 3G roaming. LightSquared will pay the deal amount in cash within 11 years even though the time frame for the deal spans 15 years. Moreover, this agreement brings home the opportunity for Sprint to purchase 50% of LightSquared’s expected L-Band 4G capacity. On the other hand, the deal is beneficial for LightSquared for it expects to save $13 billion on network capital & operating expenses. The deal is expected to be a win-win for both, and will enable setting up a separate platform for Sprint Nextel’s hosting opportunities.

ExxonMobil profits
Riding on the high prices of oil and gasoline, the largest oil company in the US - ExxonMobil reported a 53% increase in its fourth quarter profits. ExxonMobil earned $10.7 billion for the quarter, up from $7.56 billion in the same quarter a year earlier. In the second quarter of the current year, ExxonMobil had increased its production by 10% leading to a 41% increase in its quarterly earnings. Earnings were $2.18 per diluted common share, falling short of analysts’ consensus forecast of $2.33, but still much better than last year. ExxonMobil in 2009 had bought natural gas explorer XTO Energy for $25 billion and has recently purchased two companies in the gas rich Marcellus Shale area across Pennsylvania. The acquisition has boosted its production to an equivalent of 4.9 million barrels of oil a day.

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Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

Sunday, April 7, 2013

Can renminbi rival the US dollar?

No doubt, the Chinese renminbi has strengthened more than 3% vis-à-vis the greenback this year, bringing its total gains over the past six years to 30%. But it still has a long way to go before it actually starts to rival dollar in its use as an international currency.

There has been much negative news recently surrounding the US. From a downgrade of the US government debt by rating agency Standard & Poor’s (S&P, on August 5, 2011, had lowered its rating of US sovereign debt one notch to AA+ from AAA, stripping Uncle Sam of the highest rating for the first time in 70 years) to a large public debt that stands at a whopping $14.618 trillion (about 103% of US GDP, and more than $1,30,000 per US tax payer), Washington seems to have had it all. But, as if this was not enough, some observers have now started questioning how long the US dollar can sustain its status as a major international currency. And adding to the sense of gloom surrounding the greenback, the trade weighted-average value of the dollar, as measured by the Federal Reserve’s Major Currency index, continues to plumb new lows (see chart).

Meanwhile, China’s currency, the renminbi (RMB) or yuan (as it’s better known), continues to rise. While the currency gained 0.9% against the dollar in August in the face of significant global financial market volatility, the 12-month RMB futures, as per experts, imply a 1.5% appreciation over the coming year. In fact, RMB has strengthened more than 3% vis-à-vis the greenback this year, bringing its total gains over the past six years to 30%. Even, the issuance of so-called dim sum bonds, which are yuan-denominated bonds issued in Hong Kong, has jumped sharply this year. From just RMB12 billion ($1.7 billion) in 2008, the issuance of dim sum bonds has already surpassed RMB108 billion ($17 billion) so far in 2011. In fact, if a recent research by Standard Chartered is to be believed, the total pool of dim sum bonds could well hit the $1 trillion mark by 2015. Does that mean the dollar’s days are numbered and renminbi is well on its way to replace it as a global currency?

Historically, Chinese trade transactions were invoiced in currencies other than the renminbi. It was only in 2009 when the Chinese government started allowing exports and imports to be invoiced in yuan. Although less than 1% of Chinese trade transactions were invoiced in yuan in Q1 2010, invoicing in yuan has started moving north in recent quarters. In fact, in Q2 2011, trade transactions worth about RMB600 billion, representing about 10% of total Chinese exports and imports during the quarter, were invoiced in yuan.

Still, the use of the renminbi as a means of payment and as a unit of account remains limited on a global scale. For instance, every three years, the Bank for International Settlements (BIS) conducts a survey on the size and composition of the foreign exchange market and in its most recent survey, conducted between April 2010 and June 2010, BIS found that the renminbi constituted just 0.9% of all the foreign exchange transactions that occurred during that period (up from 0.1% in 2004). On the other hand, the dollar was involved in 85% of all foreign exchange transactions between April & June 2010.

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Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

Thursday, March 28, 2013

B&E Indicators

Indian IT/ITeS on the fast lane With a CAGR of 24% in the last decade, the Indian IT/ITeS industry has emerged as a key growth engine for the economy, contributing around 5.6% to India’s GDP in FY2009-10 and also providing direct employment to about 2.3 million people (from just about half a million in 2001). In fact, as per NASSCOM, the sector is estimated to provide direct and indirect employment to over 30 million people by 2020.

Overseas markets driving the growth
Even the export revenues touched $50.1 billion in FY2009-10, accounting for over 68% of the total industry revenues. The IT services segment was the biggest contributor (54%) to the export revenues (the export revenues from IT services have grown from $10 billion in FY2004-05 to $27.3 billion in FY2009-10) followed by the ITeS/BPO segment, which contributed $14.7 billion to the total industry revenues.

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

For More IIPM Info, Visit below mentioned IIPM articles