Nawaz's task is cut out

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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

Where the past breathes again

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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.

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

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

The ugly duckling

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He sat by the tracks and felt the line come to life. The rail road quivered, excitedly. And in his little toes, he felt the same excitement as the distant rumble rolled closer. He put down the diary in which he was giving words to his angry tears and got to his feet. The ballast poked and pricked at his bare feet but he couldn’t feel any of it.

The green engine loomed into view, and charged towards the boy like a ravenous monster gobbling up the horizon. The boy, turned and looked at the train, and from the fire in his eyes, you could tell he had been waiting… for this day, and for this train.

The train too seemed to know its nemesis. As it came closer, it picked up speed, as if sure of victory. The boy though was tired… tired of being picked on… picked on for being too scared, too fat, too slow, too dull and for being too black. He swore it would all end today.

The train drew near and was nearly upon the boy when those bare feet struggled against the ballast and propelled his tiny form forward. The diary, the stubby pencil and all that remained of his inhibitions were flung into the bluebells by the tracks as his arms carved the air like a buccaneer waving twin cutlasses. The train thundered past the boy as he turned his head from side to side in a desperate attempt to pick up speed. Blur against blur tore through the country side. The train was crashing towards the opposite horizon but the boy had an old oak standing in his path. As the oak drew near, the boy calves beat down on the dirt like pistons, his nostrils flared and eyes narrowed as he drew level with the train. For a frozen moment, engine and boy were locked in a frame, and then the boy inched ahead. The boy’s head turned as he pulled away and the fierce eyes took in the victory. In that moment, the boy returned to those eyes and as he sprinted past the oak, he broke into a wide grin. It was his first victory but it wouldn’t be his last.

The train would lose many more times, and years later, still fuelled by the hurt and anger that burnt up a childhood, Herschel Walker would trample down defensive line-men like a rogue bull-elephant crashing through a brittle bamboo fence. As a shy and timid child in racially charged Georgia of the 70s, he was often beaten up by white kids. He had a speech impediment and was ridiculed for it by both students and teachers. He was too fat and slow to be any good at sports.

Then one day, he started racing the train. He raced and raced till his legs hurt and his lungs burned and the day he won, he refused to ever feel fear again. While watching television, he started doing pushups during commercials. And he ended up doing thousands of them. Pushups, sit-ups, dips, hundreds even a thousand, each day. And he ran. He even tied a rope to a tyre and pulled it as he ran.

Young Herschel came from a poor family, and his school had no gymnasium to speak of. He was un-athletic and weak. But he let none of it get in his way. Within a couple of years, Herschel had become one of the quickest and strongest boys in school. No one picked on him now. But they did pick him for the football team. And college football in the United States, just so you know, is perhaps the pinnacle of amateur sports. The stands are always full and the best players are the biggest celebrities in the state.

Years later Herschel had said that he did not hold anything against the white boys who had heckled him, nor for the racist slurs or the constant taunting, for he said he realized that they are the ones who had problems. And they just took out their problems on weak and meek little Herschel. But it is they who fuelled the fire that forged Herschel Walker as we know him today. When he talks about them now, Herschel almost sounds grateful.

But those days in school, Herschel took out all that repressed anger in the football field. He was just too fast and too strong for the opposition. Colleges queued up for him and at the University of Georgia, Herschel found immortality. He became the biggest name in college football history and broke records and bones each year to win the Sugar Bowl for his college and the Heisman trophy for himself.  And while playing football like a pro, the ‘stupid black kid’ had also studied hard and smart to become a valedictorian.
The freight trains he raced as a child had come back to haunt those who stood in his way, for Walker would charge through line ups like his old racing partner.

Though a Hall of Famer Herschel didn’t quite win the same honours in the senior NFL (National Football League). That wasn’t because of Herschel’s lack of trying though. He still continued to break records as a running back. But the teams he played for just weren’t good enough those years to make good on Walker’s enormous talents. In 1997, Herschel Walker retired from football. Some would say his career did not attain the stratospheric heights his talent and power truly deserved. But Herschel would tell you that he soared further and higher than he or anybody else ever thought that timid little kid would go.

But why am I wasting your time over a retired football player? And that too the kind of football we neither play nor watch. Well, that’s because a few days ago, while preparing for a local martial arts tournament, I went to YouTube looking for videos of Fedor Emelianenko (for the sacrilegious few who don’t know who that is, Fedor is the Muhammad Ali of mixed martial arts -MMA) for inspiration. And there I ran into videos of a 50 year old Walker who had now started competing in MMA, fighting fighters half his age and winning.

Look around you. That man is in mindboggling shape at 50, far ahead of where most of us have ever been or will be, and therein simmers the purpose of this tale.

Herschel Walker doesn’t go to a gym. He doesn’t eat any fancy foods. In fact he just eats once a day. While in college he was too busy working, playing, studying and training to think about eating, and so the habit stuck. He might have a fruit or some water through the day but at night, around 8 or 9 pm, he has soup and salads and a little something to eat, but not very much. And no red meat… in fact not much meat at all. Incidentally, even our ancient yogis recommend eating just once a day.

And as for exercise, Herschel still cranks out 1500 to 5000 push ups and sit ups every day. And some handstand push ups to wrap things up. Then he runs, sometimes with a tyre, like he used to all those years ago. And he wraps it all up in the wee hours of the morning.

 Herschel doesn’t just look young. He fights like a young man too. Herschel’s cardiovascular fitness would rank higher than most athletes half his age, or for that matter, any age. That man seems to have the fountain of youth burbling inside him and all you just read seems to be all you need to do.

Strength, especially in the upper body, usually is the last to go. Which is why most of us who have gently crept past our mid 30s and are living out our lives doing little more than swiveling in a chair never find out how unfit we have become till we have to run a few paces in an emergency. Panting for breath, we resolve to renew that gym membership, but unfortunately that’s all we do – renew the membership, not our lives.

But Herschel’s life tells you that you have no excuses. That no matter how ugly the start today, there’s a gorgeous swan flapping its wings inside us, waiting to soar... All we need to do is build a  little will and take off from our perch.

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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

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

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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

 

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

“There is no problem in power generation in India!”

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Dipak Dasgupta, Principal Economic Adviser - Ministry of Finance, in an interview with Sray Agarwal and Ganesh K Roy, on reforms for infrastructure and transport

How do you feel about the Indian Economy right now?
Dipak Dasgupta (DD): There is no doubt that the Indian economy has slowed down and the reason for this is a function of strategy failure and that the investors have lost their confidence. The last year scenario also has not been favorable; but this is not a new thing rather it’s the investment cycle which remains in every developing economy all around the world. That [investment cycle] is what drives the course of any economy. At the same time, the problems in Europe and US have hampered the growth of many countries and we are not alone. China too is going through this phase. The last time we had that cycle was in the year 2008. Export markets are growing very badly. We also need a logistics revolution so that growth can been accelerated. Despite having poor infrastructure, we have been able to grow at such a high rate; but now we need a major infrastructure revolution so that we can again reach to the erstwhile levels. Ours is a large landlocked country, which is much like a continent; so we need to connect all the corridors to achieve better growth. But we don’t have that kind of a system right now in our country. We have a young population which will help us to grow in the long run. We need more public private partnerships in India to make things better. There is a huge skills gap between public and private firms – which makes it imperative for the PPP model to flourish in India. We are in a marathon race and not in a 100 metres race; so we need long term plans which will enhance our economy. 

Power failures, time overruns, cost overruns, are the indicators of structural flaws in the economy. How do you think India can overcome these hurdles?
DD: Power generation is growing at 8.8 % in India. In fact, contrary to the general perception, there are huge power plants coming up in India; this shows the level of development that we are going through. Yes, here we have a system where some states are producing huge amount of power and some are not and the demand is also not equal in each state. There is no problem at the production end; rather, we have a problem at the distribution end and in the channels. We have built a state of the art facility in the field of power generation so there is no problem at the generation part.

But the slowdown did not happen overnight. Do you think the government’s policy paralysis added on to this situation?
DD: We need to do things every day because doing things once in a year won’t do well for any economy. We need to bring in reforms every now and then so that the growth story is kept on going. In the government sector, incentives are less and performance parameter are also not standardized. Politicians respond to what the electorate wants. How to make the public sector work better is the challenge. A strong leadership is the need of the hour.

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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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

Busting the India vs China myth!

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Comparing India with China, and looking to grab a few brownie points here and there, is a popular obsession with Indians in the past few years. But after Visiting China several times in the past and looking at how the Chinese have developed their economy and built world class brands, the entire debate only appears an exercise in futility

My visit to the Middle Kingdom over a decade back convinced me that New Delhi would not evolve into a Beijing if we worked round the clock for 25 years. When I revisited the capital city last year, I could see the accomplishment of 25 additional years of progress in ten years!

The reality of the unending Chinese miracle hit me harder when I looked at how Guangzhou has developed in just over the past decade. It seems we won’t even reach that level if we work round the clock for another 50 years. When I see how China developed Guangzhou as its industrial hub and how India developed Bangalore at its IT hub (both commenced their ascent at around the same time in the early 1990s) it appears to be a tale of two attitudes, rather than cities. By sheer numbers, the PricewaterhouseCoopers’ Global City Ranking Index for 2010 shows Guangzhou ranked at 44 with a GDP of $143 billion, while Bangalore is ranked much lower at 84 with a GDP of $69 billion.

For over much of the past decade and counting, the ‘India vs China’ debate has persisted across several levels. Both western and Indian media (for their individual reasons) have been particularly boisterous and over-the-top with this comparison on several grounds; and have picked up every possible opportunity to take it up. This was visible, for instance, when US Secretary of State Hillary Clinton came over for a visit and commented on how India should aspire for a parallel role in the region, or when it was being predicted by some economic reports that India’s GDP growth rate would outpace China by 2013-15. From my perspective, all that this debate can realistically provide is a generous daily dose of rollicking entertainment! India may have merited a comparison with China a decade and a half back, but we have crossed that bridge long ago. You may call this assertion unpatriotic, and it is quite obviously unpopular with Indian readers; but this is the plain truth.

Coming back to the two cities I talked about, there are many more surprises in store when you look further into the intricacies of Guangzhou’s numbers. Around 2.5 million women are working in the city, and the employment rate for women has surged three-folds to 70.84% in a decade. Life expectancy for women has risen by 4.5 years to 81.33 years and 49% of graduates are women, who are actively playing their role in sectors like science, technology and education. At around $17.8 billion (2010 figures), the city’s FDI figures are over six times that of Karnataka at around $2 billion (2008-09 data, of which Bangalore would presumably have a major share). The visionary Chinese specifically chose a port city to take advantage of sea trade. Also, the government strategically divided the city into multiple special economic zones to further attract foreign investment. For instance, The Guangzhou Economic & Technological Development Zone caters to technological manufacturing and also serves chemical, electric machinery, food, electronic equipment, metal fabrication and beverage industries. The Guangzhou Nansha Export Processing Zone is meant for automobiles, biotechnology and heavy industries. Easy access has been provided to Shenzhen Port and Baiyun airport to ensure fast movement of goods. The four auto companies in Guangzhou, who are in JVs with 50 major global auto companies, were on target for producing 1000000 cars by 2011. Bangalore, meanwhile, has insensibly avoided division of the city into special manufacturing hubs. Some areas like Inner Ring Road (where we have offices of major multinationals like IBM, Microsoft, Dell and Yahoo!) have become clustered zones for specific industries, but not by design. Also, there are no specialised trade zones in Bangalore, so synergy is hard to achieve.

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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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

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

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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.

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

“They must establish consensus before a law is made”

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N. A. Ansari, Whole time Director and Executive Director, JSPL Raigarh. talks about JSPL’s R&D and environment initiatives as well as policy issues

B&E: What have the most important outcomes of JSPL’s R&D initiatives so far?
N. A. Ansari (NAA): We use our in-house R&D facility as well as licensed technologies. We ensure that the combination of these two brings out quality products for us. For example, we have manufactured the world’s longest rail, which is 121 meters long and can be coupled to form 484 meters in all. But we are still waiting for the orders to come, because the most important consumer of this technology could only be Indian Railways. We have been trying to convince them for the last 4-5 years that our rail can be laid down quickly, is easy to maintain, lighter in weight, et al, but they have stuck to their MOUs, which they have signed with the other companies. Apart from this, we regularly do research to find out ways to improve our quality, reduce wastage, cut down coke consumption in the blast furnace, increase yield, et al.

B&E: What is your perspective on the logistics and transportation related issues that JSPL faces in particular?
NA: Infrastructure is really in a very bad shape. We receive our imported raw material at Paradip port in Orissa, from where it gets to our Raigarh plant by train. This is very time consuming as our ports are not in a position to handle the cargo quickly and efficiently. We have purchased a 60% stake in an SPV to develop Gopalpur port near Berhampur city in Orissa’s Ganjam district. This will help us immensely once our six million tonne steel plant in Angul starts production.

B&E: Policy issues like land acquisition, environmental clearance, et al are gaining a lot of ground these days. How can they be made more business friendly?
NA: I am not against any regulation. All I want to say is that there needs to be a practical approach to law making. Some of the laws regarding environment conservation are very good, but they are difficult to implement due to lack of technology or some other constraints. So, the attempt should be to establish a consensus before a law is made. Also, the mechanism to resolve the issues & attain clearances should not be so slow and time consuming. If you need to give a red signal to a project, say it in one go and then stick to it. Otherwise, let the work go on. By the time the final decision comes about a project, it may not remain feasible for the producer anymore. So, if we really want to see the sector booming, we need to address these issues on a high priority basis.

B&E: How are you meeting various environment-related norms?
NA: Through our R&D, We are able to manage our fly-ash emission in a very systematic manner, which has brought down the risk to the environment significantly. We are using a lot of our fly ash waste to manufacture bricks. This way, we are not just disposing our waste, but also creating value out of it. We have also planted over 3 million trees in and around our Raigarh plant. This is our way to use natural resources sustainably.

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

How Volkswagen is leveraging its India plans to become the global #1!

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Last September, Volkswagen edged past Toyota to become the second largest auto selling company in the world. It’s next target – grab the gold by 2018. It is already the largest in the #1 automarket, China. To further propel the company’s growth globally, Martin Winterkorn, the global CEO of VW Group, has set his eyes on the fastest growing automart amongst the BRIC nations. India. The work has begun. But Indian conditions won’t allow Winterkorn to have his way easily. And then of course, there is competition.

Digital media networks covering the Frankfurt Motorshow, a few months back, were abuzz about Martin Winterkorn, CEO, Volkswagen AG, visiting the Hyundai Motor Company pavilion. It was a pleasant surprise for the Korean giant as the CEO of the world’s second-largest automobile company started examining the new i30, which was meant to give serious competition to VW’s Golf. Winterkorn started by measuring the thickness of paint used on the lift-gate, then walked around the i30 grazing his knuckles across the hood-to-bumper shut lines to check for evenness. He then took a careful note of the interiors of the car. Hard to imagine what was going on in his mind, but his expressions indicated that he had some gaps in his thought-process which needed closing. Someone ought to give him answers. Winterkorn called for VW’s design head Klaus Bischoff, and demanded, “The lever for the steering wheel release makes no sound while moving. BMW can’t do it. We can’t do it. Why can they?” The chief wanted to know how Hyundai managed to make an adjustment mechanism to the steering that didn’t make any noise. Bischoff had no answer.



Winterkorn’s visit to the Hyundai camp clearly indicated the regard he held for the fifth-largest automaker in the world – a worthy opponent. The company wouldn’t want to give up its silver crown which it snatched from Toyota last September, not to even a respected, fast-growing automaker like Hyundai.

Volkswagen’s march-without-stumble in the global market has wowed onlookers. From being a lesser-known European brand to becoming the second-largest car-seller in the world (market share of 12.2% in terms of sales volume), the past four years – with increased focus on the BRIC markets – for the group have been least to say, career-defining! Five years back, new launches from VW were unheard of in most parts of the world. Today, every move of the company is discussed upon. Winterkorn knows that.

Two years back, VW’s claim of reaching an annual production mark of 10 million units by 2018 sounded like wishful thinking, Today, it appears that the milestone will be surpassed well before the set deadline. The automaker sold 8.16 million cars worldwide in 2011, a 14.3% increase y-o-y. Experts do claim that the company may fail to mirror its previous year’s performance in 2012. However, growing its annual sales by 1.84 million over a period of 9 years means growing sales at a CAGR of 2.29% starting FY2012. Selling 186,864 cars more every year – not difficult for VW. Not if we go by the work VW has been doing in the BRIC markets post-2009.

Winterkorn is serious about the BRICs. During the previous Christmas holidays, he summoned the bosses of the company’s operations in BRIC markets to the global headquarters at Wolfsburg, Germany. With its sight set on the #1 spot in the global automotive circuit by 2018, the CEO of the $162 billion-worth VW Group wanted to reiterate on and announce his gameplan of reaching the #1 position by digging gold in the BRIC nations. Needless to mention therefore, its performance in the bloc’s second largest (after China) and the fastest growing auto market – India – is crucial.

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

Creating an impact that achieves goals of equity as well as economic growth

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As a new field of investing, impact investing uniquely gives the best of two worlds to the investor – financial returns as well as social equity. Linda L. Darragh, Director of Entrepreneurship Programs & Clinical Associate Professor of Entrepreneurship and Nurkholisoh Aman (Research Assistant) of the Booth School of Business analyse the developments and stumbling blocks for impact investing in India

Impact investing is an emerging investment field that is gaining increasing popularity as people look for ways to grow sustainable businesses. The recent global financial crisis is often cited as an example of how the capitalist model has failed to generate equitable and sustainable economic growth. On the other hand, philantropic activities alone cannot provide long-term solutions to what are the world’s most pressing challenges such as poverty, renewable energy, and the lack of basic health care.

Impact investing occupies a unique position between the extremes of pure for-profit businesses and charity/grantmaking. Through the promise of getting the “best of the two worlds”, impact investing presents a new alternative in the world of investing. In a 2010 study, JP Morgan defined impact investment as “investment intended to create a positive impact beyond financial return.”

Generally, impact investments target the population at “the base of the pyramid” (BoP). They aim to improve the lives of the poor by providing products or services that are otherwise unavailable or unaffordable. Another point of view of impact investments places the focus on respecting the environmental impact of business activities.

At Chicago Booth, we recently conducted a study to understand the landscape of impact investment in six emerging economies. In India, we found that there is an increasing interest in investing in entrepreneurs who pursue both social and financial objectives. A few years ago, micro finance lenders represented the breadth of social entrepreneurs in India. Now, impact investors have significantly broadened their definition of social investing due to the emergence of potentially scalable ideas in other sectors.

Given the sheer size of the Indian population at the base of the pyramid, there are almost unlimited opportunities for impact investing. Additionally, India now faces big challenges to protect its fragile environment – air, water, forests, and bio-diversity – from the rising pressures created by economic success.

Interviews with impact investors and agencies that work with social ventures identified the sectors that are most popular amongst social entrepreneurs in India. These are:
A. Water & Sanitation – There is a huge need for companies that offer customers safe, affordable drinking water through community water systems. Approximately 170 million people in India currently lack access to safe, clean drinking water. Water-borne diseases are estimated to cost US$600 million annually in lost production & medical treatment.

Read more......

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

An important question for leaders: How ethical can we be?

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Prof. James l. Heskett, Baker Foundation Professor, Emeritus, at Harvard Business School, writes an hbs working knowledge paper on how managers like to think they act ethically, but at the end of the day, their ethical action is subjective.
 
Umpires and referees favour the home team. That’s the conclusion of research by Tobias J. Moskowitz and L. Jon Werthheim that appeared in their recent book, Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won. It was a biased judgment on the part of supposedly unbiased referees and umpires.

They hypothesise that the cause is a natural tendency to avoid excessive booing by the home team crowd, particularly in the later stages of a contest in which unbiased behavior is most necessary. Of course one could ask, “Are they cheating, especially when they are probably unaware of what they are doing?”

In a new book Blind Spots: Why We Fail to Do What’s Right and What to Do about It, authors Max H. Bazerman, a professor at Harvard Business School, and Ann E. Tenbrunsel, a professor of business ethics at the University of Notre Dame, argue that something they call bounded ethicality leads “even good people to engage in ethically questionable behavior that contradicts their own preferred ethics.”

We do it when it is easy to do, when it is hard to verify, when we have insufficient time or information. We may do it in ways that allow us to preserve our perception of ourselves as an ethical person. Doctors experience it when they make diagnoses and prescriptions biased by their special training while maintaining their belief that they are putting their patients first.

It helps explain why people systematically regard themselves as being much more ethical than they really are. And it supports a conclusion that, unless ways can be found to reduce bounded ethicality, most ethics-based “education” is missing a large part of the problem. In fact, one study found that ethicists who teach the subject are less likely to return library books associated with their research than the general public is to return books that it borrows.

Why should this matter to us? Employees tell us in one way or another that the single most important characteristic of their job is “a boss who’s fair,” who hires, promotes, and recognises the right people. Nearly all bosses think they’re fair, a much larger proportion than is perceived by their employees.

As antidotes to blind spots, Bazerman and Tenbrunsel argue that we can change ourselves, in part through awareness of the phenomenon itself, putting in place “precommitment devices” that seal you to a desired course of action – imagining your eulogy, or reviewing decisions with a friend. For organisations, greater transparency and fewer silos, among other things, can help (as opposed to such things as signing codes of conduct et al).

How do we address these problems? Do we just hire more ethical people? Or do we help people see how they act in ways that are inconsistent with their more reasoned ethical preferences? What can organisations do to increase the likelihood of employees acting ethically? And, what can society do to change the institutions that guide individual and organisational behavior? Or is the problem beyond us? After all, how ethical can we be?

Read more.....

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face

B&E This Fortnight

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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.

Read more....

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

 

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)

Can renminbi rival the US dollar?

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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.

Read more.....

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

2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)