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AUTHOR: KARL YAACOUB | PUBLISHER: MINDSTIR MEDIA THE GAME OF VALUE CREATION

The Game of Value Creation by Karl Yaacoub helps you enter the world of active investors who buy businesses that present significant opportunities for value creation and turn them into success stories using a tried and true method. As a result, one can profit from the tactics used by the big fish in their own industry.

The deals that Yaacoub has worked on as a deal maker have been in the technology, chemicals, healthcare and educational sectors. The major investment banks, private equity firms, sovereign wealth funds, management consulting firms, family offices, and law firms have all provided him with a wide range of professionals with whom he has worked closely. One of his most valuable resources is his network of friends, investors, and co-workers around the world.

The author breaks into the valuation tactics of large firms and ingenious investors, who frequently operate with longer timetables, broader picture aims, and distinct missions, with an emphasis on legacy. Through his personal experience as a private equity investor, a wide range of sources, including those from the fields of leadership, psychology, traditional business strategy, financial management, and more.

The Game of Value Creation offers you a serious yet fascinating pathway to the big leagues so that your company can achieve its highest valuation ever by turning the topic of corporate value creation into a quick and practical read.

This book explores the intricacies of, leadership development, enablers of generating corporate value, leverage, governance and more, while providing useful guidelines and practical actions for raising valuation. The structure that the author suggests emphasises the expansion and efficiency a business can achieve through existing and future capabilities, the optimisation of resources to maximise organisational benefits, and the necessity of protecting a business so that it can compete in the long run, with or without its current leadership.

Yaacoub discloses the guide to building a business in a broad spectrum, yet keeps its attention on a central message of long-term success and strategic expansion. This is a must-read for any entrepreneur or company leader since it offers lessons and insights that can be applied to organisations of any size. On Amazon, the book has become a bestseller and is currently ranked as the top book in the categories of financial risk management, budgeting, and finance.

Karl Yaacoub has over 11 years of experience in investment banking and private equity. He began his career with a British multinational financial institution, where he completed assignments and deals in Asia, Europe, and the Middle East. He then joined a newly formed investment company with a capital of USD 680 million.

As a dealmaker, Karl has worked on deals in many different industries, including oil and gas, chemicals, technology, healthcare, and education

MARC celebrates 12 years of business with its flagship event ‘Celebrating Entrepreneurship in Goa’

MARC celebrated its 12-year anniversary by honouring associates and industry leaders

Mangal Analytics and Research Consulting (MARC), recently celebrated its 12-year anniversary at Taj Vivanta, Panjim, Goa, with a flagship event titled ‘Celebrating Entrepreneurship in Goa’. The program was graced by eminent personalities like Rohan Khaunte, Minister of Tourism, Information Technology and Printing and Stationery, Government of Goa, who was the chief guest. Ralph de Sousa, President of Goa Chamber of Commerce and Industry and Chairman of de Souza Group, guest of honour, and keynote speaker of the event, Aditi Kare Panandikar, Managing Director, Indoco Remedies Limited.

Entrepreneurs and partners across industries were recognised and felicitated for their contribution in building MARC and for their impact on the industry. Media corporations and well-wishers were also recognised for their support to the company. During the event, MARC also announced its recent partnership with US based growth strategy firm, Marabek. A high tea session was also organised for the guests invited to network and be introduced with fellow entrepreneurs and officials.

MARC is a leading global market research and analytics company that provides strategic

Chief Guest Rohan Khaunte lighting the lamp in the presence of Guest of Honour Ralph de Sousa and keynote speaker Aditi Kare Panandikar MD of Indoco Remedies, with Managing Director Ashutosh Kharangate and Director Satish Shinde looking on

Ashutosh Kharangate advisory services. It has positioned itself strongly in the international market enabling domestic and international expansions, through three key verticals namely Mergers & Acquisitions, Business Performance Analytics; and Market Research and Project Feasibility Studies.

MARC is headquartered in Goa, and has 8 offices located at key destinations – Kolkata, Mumbai, Kochi, Indore, Ahmedabad, Agartala, Pune.

MARC also works with several international consultants to enable cross border trade and internationalisation and has partnered with several companies covering the African and European markets.

This strategic alliance facilitates the growth of companies in the international markets and has helped establish a strong footprint in the US, Canada, and other promising regions.

“It was indeed an emotional and gratifying moment to celebrate the completion of 12 years of MARC. We wanted to take a pause and thank everyone who have contributed in all these years. A journey which began with a vision to deploy the best practices learnt during my tenure at PWC to the Goan SME; today MARC is serving several PAN India and international clientele. What makes me truly happy is that MARC today is a trusted name for investment banking firms, VCs and management consulting firms across the globe to render the most complex analytics and research solutions sitting right here in our beautiful state of Goa. This allows our Goan boys and girls to get unbelievable exposure while being able to close to their families. Ofcourse we are just getting started and the dream is to make MARC a trusted global brand in the years to come,” said Ashutosh Kharangate, founder of the advisory

Team MARC and guests cutting the anniversary cake to celebrate the occasion

Future Ready Tech Events hosts its first Global Tech Summit The HELLO, WORLD! tech event saw international speakers and representatives from various bodies talking on digital transformations in the world of tech

Dr Pramod Sawant, Tejasvi Surya, Arvind Kumar, Mangirish Salelkar, Sujeet Shetty and Rohan Warty

Future Ready Tech Events, a venture of Umang Group, progress, cultural and ethical progress. Promising organised its first Global Tech Summit ‘Hello, World!’ last month. The tech event had international speakers and representatives from various trade bodies worldwide, key government officials, investors and decision makers. The Hello, World! virtual event reached the mark of 800+ registrations worldwide.

Keeping pace with accelerated digital transformation the tech event had fireside chats and panel discussions.

The Associate Partners for the event were Zoho, Indo Baltic Chamber of Commerce & Industries, Software Technology Parks of India, Gesia IT Association, Goa Technology Association and Knowledge Chamber of Commerce and Industry. Government of Goa was the State Partner, Business Goa was the magazine partner.

An important hallmark of the technological revolution is the widespread application of electronic and information technology. Its widespread application will open up a vast high-speed, high-efficiency, and high-value world for the human race and will provide an advanced technological foundation to attain a high degree of socialist material ideas and suggestions were shared by thought-leaders and technocrats during the inaugural session of the summit. The welcome address for the event was given by Mangirish Salelkar, CEO of Umang Group. He remarked that “India has witnessed a boom in the IT sector and has become well known for IT Outsourcing and it is considered as the favourite of MNCs because of the availability of high-quality raw material, skilled and dedicated human resources.” Chief Minister Dr. Pramod Sawant was the Chief Guest for the event. He highlighted that the “Government of Goa is working on fixing the skill gap by having various initiatives for skilling, reskilling, and upskilling of IT students and professionals.” IT and Tourism Minister of Goa, Rohan Khaunte was the Guest of Honour. Tejasvi Surya, Member of Parliament, India was the Keynote Speaker, and mentioned that “Technology usage has not just enabled better delivery of government and public services but also transformed how we interact with the government.” Arvind Kumar, Director General of Software Technology Parks of India (STPI) was the Special Guest; he stated that “India has created the biggest government e-market across the globe. We have created 1.3 billion biometric identities. We need to create requisite software product infrastructure for serving various domains. Civic tech is the most important domain for solving societal problems.” For the Fireside Chat, Andrea Colaco, born and studied in Goa, now at Google as a Senior Staff Software Engineering Manager spoke on how artificial intelligence programming focuses on acquiring data and creating rules for how to turn the data into actionable information and also its ability to perform a lot of human tasks. Today’s largest and most successful enterprises have used AI to improve their operations and gain advantage on their competitors, she added. Further, she spoke about her discovery and inventions in the field of technology at the event and the challenges that she faced. The session was moderated by Dr Gaurang Patkar, Associate Professor, and Head of Department Computer Engineering, Don Bosco College of Engineering, Goa.

There were eminent speakers at the Panel Discussion who shared their knowledge. Rupa Naik (Executive Director, World Trade Center, Mumbai), Clevas Tuscano (President, Indo Baltic Chamber of Commerce & Industries, Estonia), Ralph Francois (CEO and Founder Nuagem INC, Founder Reelcruit, Canada), Jefferson Lynch (CEO, Red Olive and Data Toolkit Company, United Kingdom). The speakers exchanged insights and digital transformations in the IT world, while the session was moderated by Maulik Bhansali (Gesia IT Association).

The event had a product showcase of two companies i.e Goa Miles, the taxi booking application that eases the travelling woes of Goa’s tourists / passengers and locals and help taxi drivers earn more; and The Alpa Kids, which is a playful and educative mobile application where children can learn the essentials like colours, numbers, and alphabets all through games, examples of culture and local nature.

Rohan Warty (Managing Director at Xerviz Wlobal, Secretary, Goa Technology Association, and Co-Founder Wisely HR Co) was the host for the event.

The team at Future Ready Tech Events has also mentioned that they will announce their next event soon. “Rather than viewing digital disruption as worrisome and challenging, we have to embrace the uncertainty and potential that advances in new technologies, data analytics, and artificial intelligence will bring. The pressure to innovate amid technological progress poses an opportunity for us all to rethink the work we do and the way we do it”, said Mangirish Salelkar of Umang Group, founder of Hello, World! event

Rather than viewing digital disruption as worrisome and challenging, we have to embrace the uncertainty and potential that advances in new technologies, data analytics, and artificial intelligence will bring

ICAI-MSME Yatra

The ICAI–MSME Yatra which is to cover 75 cities in 75 days reached Panaji on 11th November 2022. The President of Goa Chamber of Commerce and Industry, Ralph de Sousa and Secretary of Goa State Industries Association, Kiran Sirsat flagged off the yatra vehicle in an event organised by the Goa branch of WIRC of Institute of Chartered Accountants of India (ICAI).

Chairperson of the Goa Branch of WIRC of ICAI CA Gaurav Kenkre said that the yatra has been conducted to recognise the role played by chartered accountants in strengthening the MSMEs as the backbone of the Indian economy. “To commemorate

Ralph de Sousa, President, GCCI along with Gaurav Kenkre, Chairman, ICAI Goa and Kiran Sirsat, Secretary of GSIA inaugurates 6 help desks for MSMEs along with officials of various organisations the celebrations, the Goa branch of WIRC of ICAI has organised a series of events. We will focus on local needs of MSMEs and popularise the MSME schemes.”

President of Goa Chamber of Commerce and Industry

Inauguration of Vigilance Awareness Week 2022 in Goa Shipyard Limited

Brajesh Kumar Upadhyay, CMD GSL inaugurated the Vigilance Awareness Week 2022, in the presence of Sanjay Krishna Nahvale, Capt. Jagmohan (Retd), and Sunil S. Bagi Brajesh Kumar Upadhyay, CMD GSL inaugurated the Vigilance Awareness Week’ 2022 in the presence of Sanjay Krishna Navhale, CVO GSL, Capt. Jagmohan (Retd), Director (CPP&BD) and Sunil S. Bagi, Director (Finance). For the year 2022, Central Vigilance Commission (CVC) had decided to observe Vigilance Awareness Week from 31st October to 6th November 2022 with the theme ‘Corruption Free India for a Developed Nation’. In line with CVC directives, a series of programs and activities were organised by Goa Shipyard Limited during the week to create awareness and to promote integrity, transparency and accountability amongst its employees, contractors, vendors and general public at large. The inaugural function of Vigilance Awareness Week2022 was held in GSL with the lighting of the traditional lamp followed by administering of the integrity pledge by CMD to Directors, CVO, CGMs and other senior executives present during the function. The Integrity e-Pledge was also downloaded online for the organisation by CMD, GSL. On this occasion, CMD/ GSL, Brajesh Kumar Upadhyay addressed the senior executives and requested participation from all stakeholders to fight corruption and to promote integrity and transparency at work place. CVO/GSL, Sanjay Krishna Navhale also shared his views on various Vigilance aspects and importance of corruption free governance. The inaugural programme was compered by Lochan Karekar, DGM (Vigilance) Ralph de Sousa acknowledged the efforts of ICAI in supporting MSMEs in Goa. “ICAI and GCCI routinely have joint knowledge-based events for the benefit of trade and commerce at large. This provides much needed fillip to micro and small enterprises”.

Secretary of Goa State Industries Association, Kiran Sirsat appreciated the gesture of ICAI of compiling, publishing and free distribution of books on Compendium of MSME Policies Goa.

The dignitaries also inaugurated six helpdesks set up for the facilitation of MSMEs. The helpdesks were manned by experts who provided free Udhyam registration, guidance on schemes of financers like SIDBI and State Bank of India, and guidance on incentives of entities like NSIC, DFO MSME and invoice discounting. Technical sessions were also held wherein the experts guided the MSMEs present on the various support schemes available to them.

A special session was also conducted by CA Yogesh Kulkarni, on financial excellence for MSMEs

Hilton Goa Resort embraced the festive cheer with a joyous cake mixing ceremony

Hilton Goa Resort embraced the Yuletide with the traditional cake mixing ceremony which marks the beginning of the festive season.

The soirée began with a signature dance performance by the resort’s management and staff followed by a special performance by the saxophonist.

The guests donned aprons, gloves, and chef hats as they excitedly immersed themselves in creating the merry mixture by combining the spices, nuts, and spirited beverages. The evening saw an assorted menu curated by the culinary team at the resort comprising palatable small bites and refreshments which were savoured by the guests. A dedicated bar was set up by Maka Zai for guests to relish which was the perfect addition to the sundowner event. On this occasion, Amandeep Singh Grover, General Manager, Hilton Goa Resort said, “It was delightful to host this year’s cake mixing ceremony which marks the beginning of the festive season. The evening was filled with joy, laughter, and many unforgettable memories. While the event was a traditional one, the fun activities and games curated by the staff made the event all the more exciting and cheerful”. With the spectacular ambience of the resort, festive décor, and fare to match the theme of the event, the evening was hugely appreciated

Harshvardhan Bhatkuly awarded by BNI Goa

L to R: Rajkumar Kamat, Harshvardhan Bhatkuly and Hemu Suvarna Founder-Editor of Business Goa, Harshvardhan Bhatkuly was recently honoured with an ‘Award of Excellence’ at the BNI Goa Region Awards function held recently.

The ‘Business Inspiration Award’ for promoting and inspiring the entrepreneurial ecosystem in Goa, was given away at the hands of Rajkumar Kamat, Regional Director of BNI Goa Region and Hemu Suvarna, Director of BNI India.

“The role of Business Goa has been important in a compact business ecosystem like the one that we have in the state. Over the years, the magazine has made it a mission to recognise entrepreneurs and laud them for their contribution in creating value, wealth and jobs. The journey and relationship of Business Goa and BNI, both having started around the same time, has ensured that Goa’s image as a destination to do business at is strengthened,” said Bhatkuly

Goa Marriott Resort and Spa rings in the festive season with their annual cake mixing ceremony

Goa Marriott Resort and Spa, one of the city’s most soughtafter 5-star destination, hosted a spectacular cake mixing soiree on October 15, 2022. This was followed by high tea spreads, a variety of house wines, and a lot more. The grand event saw residence guests, prominent socialites in Goa, and hotel associates thoroughly enjoying this elegant event.

Guests celebrated the season by donning aprons, gloves, and chef hats. Raisins, glazed red cherries, mixed fruits, black currants, dried apricots, walnuts, and cashews were soaked in a variety of delectable beverages.

Executive Chef Amit Dash and his team showcased high-end cuisine, decadent appetisers, and intoxicating drinks that kept the spirits high throughout the evening. The desserts served were petite and in keeping with the exciting occasion, thanks to the talented team of culinary experts.

On this occasion, Gaurav Apte, General Manager, Goa Marriott Resort and Spa expressed “The resort is known for creating an ideal atmosphere for an uplifting evening of upscale hospitality with delicious food and drinks; it gives us immense pleasure to have our guests participate in the annual ritual and create unforgettable memories”

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Senior academician Oscar Gonsalves felicitated for his service to education

A book Oscar’s Odyssey was released at the function, which listed out the achievements and milestones of the educationist

Oscar’s Odyssey book release. (L to R) Sonali Kawathankar, Mario Fernandes, Edwin Menezes, Jose Remedios Pereira, Damodar Mauzo, Dattaraj V Salgaocar, Oscar Gonsalves and Sandra Gonsalves

Senior educationist and administrator of Sharada Mandir School, Oscar Gonsalves was recently felicitated at a public function held in Panaji, recently.

The chief guest for the function was Dattaraj V Salgaocar, industrialist and Chairman of the Sharada Mandir School Trust. Recipient of the prestigious Jnanpith Award, and prolific Konkani writer Damodar Mauzo delivered the keynote address and was the guest of honour at the felicitation event.

A book, Oscar’s Odyssey, enlisting the achievements and milestones in the life of Oscar Gonsalves was released at the function. The book’s editor Mario E. Fernandes; chairman of the Sir Oscar Felicitation Trust, Jose Remedios Pereira; and secretary of the Felicitation Trust, Sonali Kawathankar heaped praise on Gonsalves and mentioned the contribution of the academician in their respective careers.

Addressing the audience, Dattaraj Salgaocar, who is also the managing director of VM Salgaocar Corporation Pvt Ltd, said, “Despite being forthright, Oscar Gonsalves, a devoted educator, offered a soft touch to Sharada Mandir School. He shared my vision and with his unwavering devotion and leadership skills, overcame

Oscar Gonsalves

Gonsalves thanked everyone who have contributed significantly to his development as a teacher, headmaster, and administrator

every challenge in his path to help the faculty and students while also being aware of his duty. During the pandemic crises, his commitment and never-say-die attitude were most evident. He has significantly raised the bar of education at the school.”

Speaking at the occasion, Damodar ‘Bhai’ Mauzo, who like Gonsalves, hails from the village of Majorda in Salcete, said, “Oscar has lived a full life, giving of himself, his village, the people, and the neighbourhood. It is commendable that he is being recognised for the value of his contributions to the field of education and the effort that he put forth to create a sense of community among the students. Just like his mother, who was my teacher in school, Oscar has made a difference to scores of students.” Mauzo added, “it is not important how long one lives but rather whether or not those years were spent in a fulfilling way.”

Fr. Alfredo Vaz led the audience in prayer before Reena Thakur, a faculty member, performed a prayer dance, and then a student, Aarika Raikar, performed a dance piece at the function.

Editor of the book Oscar’s Odyssey is London-based Mario E. Fernandes, a student of Gonsalves. Mario reminisced about the good old days being inspired by Gonsalves. He also described how challenging it was to co-ordinate from London with those in Goa while compiling and editing the book. Sponsor of the book, Edwin Menezes of Edcon Real Estate spoke about Gonsalves’ passion for education and grooming young talent.

In his thanksgiving address, Oscar Gonsalves praised his family, the school, and his students. “We are the results of the upbringing that we have received from our families; and parents have a significant impact on how our lives turn out. We are what we are because of the ideals that our parents instil in us”. Gonsalves commended Fr. Basil Andrade for opening numerous schools wherever he was deputed. “Fr. Basil offered me a position as a teacher in his school, which I accepted reluctantly; but soon I began to enjoy the teaching profession. I was inspired by and learned how to be a good teacher from the inspiring stories narrated to me by Fr. Basil.” Gonsalves also thanked everyone who have contributed significantly to his development as a teacher, headmaster, and administrator.

Gonsalves also had a special mention to state government officers, like former Director of Education Department, Mrs Suman Pednekar; and former Jt Director of Accounts late J N Prabhudesai, who have facilitated reforms that have benefitted teachers in the state.

Former students of Gonsalves sent messages from all over the world, with Young Perry from London sending a song in Gonsalves’ honour. Nila Mohanan, a former IAS officer stationed in Goa, also sent Gonsalves a video message in which she praised his abilities as an educator. Secretary Sonali Kawathankar proposed the vote of thanks; and Ashford Gonsalves expressed his appreciation. A portrait of Gonsalves, created by artist Dilesh Hazare, was handed over to the man of the moment

Insights on the uniform concept of Financial Planning

In today’s fast paced life, is financial planning the key to a healthy and secure future? The author goes on to elaborate

Financial planning is a way to make sure you can reach your life goals by defining your relationship with your money well. You might want to buy a house, save money for your child’s education, or plan for your retirement or to pursue a dream you may have.

Financial planning is about taking control of your financial future and deciding where you want to be in 10 years or 20 years. By creating written financial plans, you will have specific targets and objectives that will help guide how you spend money now so that when it is time to retire or any other big event, you are financially prepared to do so. Let us understand the nuances and benefits of financial planning:

Helps you determine your short and longterm financial goals

It is essential to figure out what you want to achieve in the next few years. Do you want to buy a car? Do you want to travel abroad? Are there any major purchases that need to be made, such as buying a house or are you planning to start a family?

Each of the above questions has financial implications to it – and become your financial goals. Once these needs are identified, we can determine how much money will be required for each goal. It is also important that these goals are aligned with one another so that they don’t conflict with one another. This can help ensure that both short-term and long-term financial plans are being created simultaneously,

For example, a couple may decide together that they want their children to go to college abroad after high school, but they also want to pay off their home loan before that. Hence they need two separate portfolios for these two goals – even if fruition of those goals may be in the same year.

There is a lot more to Financial Planning!

It includes budgeting, investments, insurance, taxes, retirement, and estate planning, amongst other factors. Financial planning involves all the steps that you take to ensure that your life is in good financial order. It includes budgeting, investments, insurance, taxes, and retirement planning. Budgeting is tracking your income and expenses so that you know how much you have to spend each month on living expenses like rent or home loan EMI, as Financial planning is not just for the wealthy. It is for everyone. Even if you are starting with a small amount of money, you can still make smart decisions about how to use it and grow your wealth over time. You need to find the right financial partner who will not only help you set your financial goals but create a comprehensive map to help you at each stage

well as personal items like groceries or entertainment items such as movies or going out with friends.

Investments are buying assets that are expected to increase in value over time, such as stocks, mutual funds or real estate. Insurance is a means of protecting yourself from financial loss; examples include health insurance and term insurance. Taxes are the amount of money that you pay to government entities.

Financial Planning will help you make sound financial decisions today to help you be more financially secure tomorrow.

Financial planning is not just about money. It’s about setting goals, creating a road-map, and then following through on your game plan. Achieving financial security takes time a long-term process that requires patience and perseverance.

Financial planning is not a one-time event; it’s an ongoing process of making decisions that affect your finances today and in the future. Your actions today will determine how successful your future will be, financially speaking.

Everyone’s life goals are different, but with smart planning, income levels are just one factor!

We have seen that financial planning aims to help you improve your finances by identifying how much money should be saved for various purposes, such as buying a house or saving for retirement.

In addition, it also focuses on reducing unnecessary expenses to ensure that a small amount of income can go a long way in meeting our day-to-day needs while still having enough money left over at the end of each month (or year) for the purpose of savings.

Conclusion

Financial planning is not just for the wealthy. It is for everyone. Even if you are starting with a small amount of money, you can still make smart decisions about how to use it and grow your wealth over time. You need to find the right financial partner who will not only help you set your financial goals but create a comprehensive map to help you at each stage.

To me, in summary, a healthy financial life is a result of five factors: • Know your needs, wants and dreams –prioritise them into goals. • Pursue a separate plan (read portfolio) for each goal. • Start early. Invest regularly. • Follow your asset allocation. • Don’t let emotions come in the way of your investment discipline

The writer is the Co-Founder & CEO at Epsilon Money Mart Pvt Ltd. A Management Graduate, Abhishek has spent the past 21 years of his professional life in pursuit of excellence in asset & wealth management. He has been associated with reputed companies like HSBC GAM (India, South East Asia), PGIM AMC, AMEX Bank, HDFC AMC, UTI in various roles including Board Membership and leading Business Management, Sales, Marketing and Product Development.

Ladies! Empower Yourself with Financial Literacy

The writer lists out the ways by which women can enhance their knowledge about personal finance and investments

One of the strong characteristics of Indian women is the habit of saving. This is mainly done in the form of cash or physical gold. Demonetisation of high value notes by the government has revealed the tremendous capacity of the Indian women to hoard cash unknown to their family members. However, they do not distinguish between savings and investments without realising the loss that they are incurring. The money held in cash would have doubled, tripled or multiplied even more if the same would have been invested properly in different types of financial instruments such as bank deposits, government saving schemes, mutual funds, stocks and shares and such other investments.

Another characteristic of Indian women is to rely on their fathers or their husbands to make financial decisions even though they work or hold senior executive positions. This dependence makes them vulnerable and disempowered in day-today life. Taking responsibility and control of your money is one of the big steps towards feeling empowered.

Yet another characteristic of Indian women is that they are unaware of the investments, financial liabilities, insurance and other financial decisions of the family. There are instances where, after the sudden death of the husband, the lady hardly has any idea about where and how her husband had invested when he was alive. To avoid such a situation, women should insist on being part of the financial planning process for the family from the start. For self-esteem, irrespective of economic status, women should stay engaged in productive activities that might give an income, be it while being a homemaker or when stepping out to work. For better marital relationships, any decision on spending, investments or any other financial matter should be taken in consultation with each other.

In India, on an average, women live a couple of years more than men. With the result, most women live alone for a few more years. With their relatively less knowledge about finance and investing, they face problems. So, it is important that women start learning about investing and participate in the family’s financial planning process.

All these issues can be resolved by enhancing the financial literacy levels of Indian women. This is not very complicated and does not require one to go and take a long duration course in finance. There are some simple measures that one can adopt to enhance knowledge about personal finance and investments. - Irrespective of your age, you should take the first step in financial independence by personally visiting banks for deposits, withdrawal and other transactions. - Learn internet banking to carry out bank operations from home. In the process you will learn a lot of things about banking, cyber security, password protection etc. - Use ATM cards, credit cards, and GooglePay freely. This will boost your confidence. - Start stock investing by opening demat account through your bank account. - Immediately exchange passwords (P/W) of demat account, bank accounts, ATM, credits cards with husband and vice versa and write down safely. Death comes unannounced as in case of recent pandemic. - Meet your family tax advisor, financial planner, legal advisor in person to keep you updated with the latest position of your finances. This will also help you to understand where your family stands financially to live within means. In today’s world of show business in Goan closed society, men tend to hide their real financial position about earnings and borrowings from the wife. Be aware of your husband’s earnings and financial liabilities and manage your household accordingly. Learn to live within your family’s means.

Based on this information, you should identify your family’s short term, midterm and long-term financial goals in close consultation with family members. Now the next step would be to plan and execute the same.

Insurance: Your first priority should be to have adequate insurance cover on the life of your husband on whom your family depends to secure your and your children’s future –education, marriage etc in case of untimely death. Ideally, insurance cover should be 20 times of your annual expenditure. You can have a ‘term life policy’ for this amount which has minimum cost. In case your family is financially dependent on you, your life should be covered accordingly as well.

House: If you are living in a rented house, plan for your own home. To encourage women to have houses in their own name, financial institutions offer concessional rates to women buyers and also for stamp-duty. Irrespective of this, you should ensure that your name is included as joint owner of the property. Apart from emotional security, a house provides appreciation in value.

Will: If you do not wish your children to fight over property after your death, execute a Will. A Will is a legal document which provides the manner in which a person’s property will be distributed after death. A Will can be executed on a plain paper in one’s handwriting in the presence of two witnesses. No stamp duty is required. Registering the Will will help further for smooth inheritance and clear title.

Emergency Fund: Create an emergency fund, education fund, marriage fund for your children through systematic investment plan in mutual funds. Build an adequate retirement fund through regular savings to live happily in old age without depending on your children. Discuss this with your financial advisor.

Investments: Learn about investment in mutual funds, government securities, stocks, real estates, gold etc. This is a slow learning process. Discuss money and investments with friends and family; watch business channels on TV, read investment magazines regularly. Lot of material is available on the internet to build your knowledge of investment avenues.

Nominee: Ensure that your name is registered as a nominee in all bank accounts, life insurance policies, mutual funds, housing society membership etc. Do not rely on your husband.

Health Insurance: Have an adequate health insurance cover which will take care of medical needs of the entire family.

There are many other things that women should carefully follow if they want to avoid getting into a financial mess. I have listed some of these matters. - Do not sign any blank paper even if requested by your father, mother or husband. - Do not give general power of attorney to anyone including brother, father or husband, unless required for specific purpose. - Do not stand surety or guarantor for any type of bank borrowings even for your own children.

BEYOND CLASSROOM / DR. PRADEEP SALGAONKAR Inventory Shortages in Retail

The writer speaks on inventory shortages in the retail industry and the way various retailers handle this challenge

As a business owner, how many times have you told the customer ‘sorry we don’t have it’, when a customer has asked for a particular item, that was not available with your store? Or offered a substitute item and the customer purchased it halfheartedly. Or if you were a bit considerate to the customer, then arranged for the item from a competitor’s store; or else told the customer ‘I will get it for you later’; or simply allowed the customer to walk away to your competitor. The cause for this kind of behaviour on part of retailers arise due to improper inventory management of merchandise of the store. Customers are very demanding thereby expecting every item of their need to be available at their store and retailers must take extra efforts to ensure that they meet these expectations of their customers, all the times, calling for astute inventory management skills.

Inventory management is one of the critical pillars for success of retail businesses. Inventory shortages are bad, yet they do happen. Here are a few examples how some of the retailers firefight inventory shortage situations, knowing very well the implications of shortages on customers’ satisfaction.

Case 1 – Francis, the friendly neighbourhood chemist, who runs his medical store for decades has learnt the art of convincing customers to wait till the evening or the next day for the required item, that he may not have in stock, unless it is an urgent requirement of the customer, in which case he himself will tell the customer to go to other chemist and buy the medicine as it is necessary to take it on time. He will frankly tell the customer that while he is having most of the items required, he is not having in stock a particular item. And he will add further ‘I can bring it for you by evening and I will drop it at your home, or I will give you a call you can collect it’. He not only gains the confidence of the customer but also goes a step ahead to ensure that he does not lose the customer.

Case 2–Satish, the friendly neighbourhood kirana store wala, is yet another retailer who tries to be diplomatic with customers. When a customer finds a particular item missing from the store, the customer will ask Satish, ‘Is the item available?’ and Satish would say – ‘Sorry, it is not there. The order was placed one week back but the supplier has not supplied it till now. May be, they too are having some genuine problems of stock shortages therefore they did not supply it. Normally they…’ and he continues with the story…while the customer is busy picking up other items s/he wants. Satish knows how to convince the customer, though for short period it may be. But, what he does not realise is that not all customers are going to believe him and certainly not every time. The shortages of goods is not going to help him and he better pull up his socks as regards ensuring that there are no shortages at any given time in his store.

Case 3 - Nikhil runs a super market on a busy street with adequate parking space. He is blessed with a sweet tongue. Thus he gets a good footfall to his store. He is extra careful about inventory holding and refill, he also believes a shortage is a lost opportunity and lost customer. However, in spite of taking all required care to ensure that there are no shortages, invariably shortages do occur, most of the time due to spurts in excess demand. So what does Nikhil do in such situations? Does he tell the customer ‘Sorry it got over’, No. He goes a step ahead to ensure he meets customers’ requirement. He will tell the customer ‘Please wait I will check inside in the store room (in spite of knowing for sure that the concerned item is not available in the store) and then going inside he will assign his person to go to some other store and get that item and hand it to the customer. He will do everything to ensure that the customer gets the required item. But in spite of all his efforts, if he cannot get the item, then he profusely apologises to the customer as though he has committed some kind of a crime. Further, he will offer substitutes with special discounts to this customer, with good intent of meeting the customer’s needs. Case 4 – Bhiku runs his kirana store for many years now. From a small mobile cart to a full-fledged retail store, the growth has been good. With growth, apparently it appears like complacency has set in. Once a very active and helpful shopkeeper, Bhiku has now become quite docile and indifferent. The location of his shop is one of the best in the locality as it is right at the corner of four very busy streets crossing with adequate parking space in front of his store. The footfalls to this store and neighbouring businesses too are quite high.

While all things are in favour of Bhiku’s store, his inventory management seems to have gone for a toss. Invariably, every single customer coming to the store is found complaining of non-availability of required items. And, Bhiku pays no heed to these complaints. He simply says ‘yes yes, the supplier has not supplied the goods’. In case some customer asks for a particular item, he will reply while sitting from the cash counter ‘if it is not there then it is not available’. A close look at the inventory holding of this store shows that there are irregular patterns. While certain goods are over stocked, with two to three shelves overcrowded with units of one product, the other products are missing. It is only a matter of time that a strong competitor will come up nearby and customers will move away from Bhiku.

Well these are some fire fighting techniques adopted by retailers to keep the show going on. But does that work all the time or atleast most of the time? No, it won’t work. If inventory shortage issues continue, then, at times, you may even lose the most loyal customer to competition for want of adequate stock. Customers excuse a shortfall few times; not all the time! The amount of goods stored – too much v/s too little – i.e over stocking v/s under stocking matters a lot. Proper management of inventory facilitates retailers to meet customer demand without running out of stock or carrying excess products, thereby preventing loses to business.

Thus, it is prudent for any retail business to take extra efforts to maintain optimum inventory of goods at all times

The writer is Founder Director, Saldots Academy, corporate trainer and facilitator. He is former Chairman, Goa Management Association. Email: pradeepsalgaonkar@gmail.com

- Do not share your password/s. - Do not sign any paper blindly unless you have understood its implications. - Do not get emotional and gift or transfer your home in which you are residing to your children during your lifetime.

Apart from all this, remember that health is wealth and is integral to financial well-being. Women, being the foundation of the family should take care of their health with annual checkup and with proper diet, regular exercise and healthy lifestyle with composed temperament.

Strength of the family is a strong knowledgeable woman. Be One!

GLOBAL GOAN / ALDEN DO ROSARIO Dear Businesses in Goa, Meet IIT Goa

The writer explains how the long-term benefits of a research college to the business economy make IIT Goa an attractive proposition for local businesses

The Indian Institutes of Technology (IIT) are a group of twenty-three public engineering and management institutions located across India. They are considered among the most prestigious institutions in India for engineering and technology education and research. With post-graduate and Ph.D. funding for research, the IITs are the epicenter of emerging research in India.

In 2014, a center-funded IIT was allocated to Goa and began operating from a temporary campus in Farmagudi. Yet, eight years later, Goa struggles with creating a permanent campus, which would allow the IIT to begin operations in earnest and start flourishing. Having a permanent campus will allow IIT Goa to start its permanent research labs and can also begin attracting world-class talent to work and research in these labs.

One of the struggles that Goa seems to be having with the IIT is a lack of understanding of what a top research college brings to a state’s economy. While a Centerfunded research college would be welcomed with open arms anywhere in the world, some Goan interests seem to question the value of an IIT to Goa.

With that in mind, let us look at some of the long-term and short-term effects of an IIT on the state economy – with a special emphasis on local businesses and how they can take advantage of a Center-funded research college.

This analysis is based on not just other colleges in India (like IIT Madras or IIT Delhi) but also, the effect top colleges in the US have on the State economy (having seen this effect firsthand in Boston while interacting with colleges like Harvard, MIT, and University Of Massachusetts).

Long-Term Benefits

The biggest long-term benefits are the effects a top college can have on the knowledge ecosystem of a state. To understand this, let’s break this down into two parts:

1. Macro Economy Currently, Goa is mostly a tourism economy. With mining halted, it is safe to say Goa is ‘all-in’ on tourism. If Goa hopes to have a chance to transform into a knowledge-based economy in the future (rather than a manufacturing-based one), a top research college is its best bet. The next 30 years are expected to be the ‘Age of Biotech’. If Goa is to have any Biotech presence in the technology world, does Goa have the knowledge systems in place to be competitive in this field?

For example, IIT Delhi has started investing in Quantum Computing. As this field takes off, will Delhi and the surrounding ecosystem benefit from it? It absolutely will! There is no doubt that startups and companies in the field of Quantum Computing will gravitate toward IIT Delhi and want to be within that ecosystem.

Similar examples are emerging in other IITs, including the newer ones like IIT Guwahati. This IIT has recently started a ‘drone tech’ center and it's quite likely that it might become the ‘Drone Hub’ for India as investments in drone technology continue to grow.

Which leads to the million-dollar question: What are Goa’s investments in the technologies of the future? As Goa tries to compete with the other states in knowledge-economy fields, what will Goa be best at? Recent developments in Goa have shown a hint of excellence emerging in Goa in the field of Pharma and Biotech. Will Goa capitalize on this and invest in this upcoming ‘Age of Biotech’?

2. Magnet for Companies One of the greatest benefits of a research college is the collaboration that can (potentially) happen between the college and local businesses and startups.

The simplest form of collaboration would be Goan businesses working with the professors and students (both post-graduate and Ph.D.) in tackling various industry problems. This is a win-win for both; local businesses and researchers.

For example, a pharma company operating in Goa could easily work with the students via internships to tackle specific industry-oriented problems. This creates excellent opportunities for not just the local businesses, but also for students. These young students can bring energy and an innovative vibe to local companies.

The dream scenario of course, would be to have startups sprout around the IIT. Such startups usually happen when postgraduates and PhDs emerge from the research labs to form their own companies. To stay connected to the college and the labs, they usually set up shop in close proximity to the college.

For example, this is why Boston is the Biotech capital of the world – because most bright ideas emerge out of the MIT/Harvard ecosystems and begin life around the college area.

Goa just created its first Biotech unicorn (Molbio Diagnostics). If Goa is to create and attract more such unicorns, could they be off-shoots of the research labs from IIT Goa?

Short-Term Benefits

While I understand it is difficult for most people (especially politicians!) to ‘see the forest for the trees’, here are some shortterm immediate benefits. These short-term benefits can be immediately activated as

Alden Do Rosario is a Boston-based entrepreneur and investor and is currently CEO of user-testing platform ‘Poll the People’. He is the 2016 winner of the University of Massachusetts Outstanding Achievement in Entrepreneurship award from the College of Information and Computer Sciences. Alden is regularly featured as a guest speaker on Entrepreneurship at the Isenberg School of Management. Email: adorosario@chitika.com 50 | BUSINESS GOA INDUSTRY DOSSIER | NOVEMBER 2022

soon as construction for the permanent campus begins.

1. Job Opportunities Initially, it might be jobs and opportunities related to the construction of the permanent campus (e.g. supplying material, labour, etc). This is not a major opportunity – but more a one-time construction-related opportunity.

Over the longer term, An IIT with its 5,000+ students and staff creates Centerfunded job opportunities for locals. While these are mostly admin jobs, it is nonetheless an opportunity that locals can compete for. In other IITs like IIT Madras, almost 60% of the admin staff comprises of locals. If Goans compete for these jobs, similar numbers can be expected.

Side note: Opportunity does not equal reservation. These are Central-government jobs that Goans have a unique advantage for – but there will be heavy competition for these jobs (since all Indians are eligible).

2. Slight increase in Goan students Anytime a top college comes up in an area, it results in inspiration for locals. While With mining coming to an abrupt halt, Goans should take this once-in-a-lifetime opportunity to invest in a knowledge-based economy. Why now? Because if not now, then there is a real risk that Goa will transform into a manufacturing-based economy and all the sideeffects that entail (think: coal power plants, chemical factories, etc)

there is no reservation for locals in IIT, it certainly inspires students (especially girl students) to strive for entrance. This was clearly demonstrated in BITS Goa where the presence of Goan students in BITS increased dramatically after BITS started an Institute in Goa. Goa used to send one student to BITS Pilani every two years in the 1990s. More recently, Goa sends over 20+ students per year to the BITS system. That level of increase is unprecedented for a small State comprising just 0.13% of the Indian population.

3. Increased Economic Activity One can expect increased economic activity around the campus as 5,000+ students/staff will need goods and services from the local economy (e.g. fish, vegetables, repairmen, plumbers, etc). The college becomes a major driver of economic activity around the campus and can sometimes create the concept of ‘college towns’ (aka: the entire economy of the town is driven by the presence of the college). A good example of this is Pilani in Rajashthan whose entire economy is driven by the BITS.

Conclusion: With mining coming to an abrupt halt, Goans should take this once-in-a-lifetime opportunity to invest in a knowledge-based economy. Why now? Because if not now, then there is a real risk that Goa will transform into a manufacturing-based economy and all the side-effects that entail (think: coal power plants, chemical factories, etc)

The New Brave New World!

The writer elaborates on the Digital Revolution and the changes that it has brought to the work scenario

The world’s worst cliché is that an organisation’s performance is sigma Don’t for a moment think that this Social/Digital top performers within the organisation. An equally miserable cliché is that no organisation consciously hires under- performers. This begs the question: when the organisation hired, did they make a mistake in assessing the individual’s potential, or did the requirement of the organization change after hiring, or did the organization demotivate a person enough to under-perform?

If I may draw on my four decades of experience in the corporate to choose the right question, I’d say, it is all of the above. The organisation did not align the individual’s capabilities with the deliverables expected of him. Given the dynamic nature of business in the 21st century, the customer was changing his requirements on the fly. And caught in the whole flytrap of growth, profit and selling stories to the Board, the individuals become shadow performers in this show-must-go-on circus. If the show gets rave reviews, the shadow performers are given a face and that’s the reward. If the show is berated, the whole cast is buried in unmarked graves.

When did people who are supposed to be an organisation’s biggest asset become so irrelevant? If we look at history, during the Industrial Revolution, employees were important only in so far as their productivity. For the employees, the job was important in so far as it gave them a livelihood. Employees didn’t stay because they were loyal. Organisations didn’t keep them because they were benevolent. Options were limited for both organisations and employees, so they stayed together.

During the much-hyped Internet revolution, a small dynamic shifted. Employees no longer worked in organisations for livelihood. They did so for a certain standard of living. Their forefathers had ensured during the Industrial Revolution that their families’ basic needs were provided for. So work now was no longer for three meals a day; it was for the dessert. Employees stayed only if organisations continually improved their standard of living. Organisations kept them to deprive their competition of access to their trained workforce. There was no loyalty on either side, yet again. And then came this era of Social/Digital Revolution. By its very nature, this beast was all about living in the public eye. And that meant posturing, that meant living the way they wanted to showcase, that meant living a lie. Fake is the new value in this whole eco-system. So now it was no longer about earning a livelihood or about the standard of living. It became all about embracing an alternative Universe which fitted one’s avatar. So it became cool to say, oh we quit the rat-race of the corporate to graze cows in the Himalayas! And boy! has Instagram provided just the right platform for these posturing professionals. I browse Insta as obsessively as Insta is meant to be browsed. And what I have learnt in the process is that the language of the posturing professionals is PLATITUDES. I’m sorry I didn’t really look for an alliterative catch-phrase, it kind of came together on its own and the more I stared at its inner value, the more its anti-truism became fascinating. So now where are we on the hiring-firing dynamics? I should make it clear here that since internet-related companies are the largest employers who hire and make headlines when they fire, whatever we postulate here is in their context only. Here, it is perhaps safe to say that employees are adamant about workfrom-home as non-negotiable. They have suddenly discovered that their parents wasted humongous amounts of money ‘sending them to schools’, where they Revolution is a fad. The movement will intensify and gather momentum by the minute. The best way for organisations to hire successfully is not by perusing boring templated resumes but browsing the candidate’s social media stature, presence and influencing power actually learnt nothing; so for now they have discovered the joys of home-schooling their progeny. Taking their pet with them to work on that one-day-in-the-month when they are expected to physically report at the company’s office has become as non-negotiable as work-from-home on other days. You see, all these have become the yardstick of this new mantra of the Social/Digital revolutionaries. WE WANT QUALITY OF LIFE THAT MEANS WE EXPECT ORGANIZATIONS TO PROVIDE US THE CONTENT TO POST ON INSTA! Is this a reasonable and viable expectation? Reasonable from the employees’ side and viable from the organisation’s perspective? Loyalty in any case has always been missing from either side in this whole hiring-firing scenario since the Industrial Revolution. So what is the new glue that can align both these expectations? Don’t for a moment think that this Social/ Digital Revolution is a fad. The movement will intensify and gather momentum by the minute. Me thinks the best way for organisations to hire successfully is not by perusing boring templated resumes but browsing the candidate’s social media stature, presence and influencing power. Me-also-thinks that the most attractive organisations, going forward, that will attract best talent are those that remove the GENDER column from their application. And replace it with latest link to their Google Timeline

The columnist is co-founder of bakery and restaurant business (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in

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Is goal based financial planning the right way?

The writer lists out a few steps that one has to take in order to meet their financial goals

Goal based planning is the process of prioritising a person’s financial goals and determining the optimal plan to fund them; this plan will help in achieving multiple goals across different stages of life. Some of the common goals would be children’s education, children’s marriage, retirement planning, and estate planning. And of course, there would be a few people who would also add travel, building a home etc as their goals. A goal of retiring at a certain age and traveling the world is merely a starting point. Meaningful planning then probes deeper into where you hope to travel, how many trips you would like to take each year, and who would be traveling with you. Once you list down all your goals, it becomes much easier to then prioritise which of them are essential needs, which are important wants, and which are aspirational wishes.

Why is it needed?

Many investors think that saving money will ensure financial security and success in achieving goals. However, saving money is not enough. We have multiple goals in life. To achieve your long term financial goals, you need to grow your money by investing it. Your money will grow more, if you invest over a longer period of time – this is known as power of compounding. Financial planning will help you estimate how you need to save for different goals, where to invest your savings and for how long to invest.

Financial planning also prepares you for unexpected adversities e.g. unexpected loss of employment, serious illnesses, untimely death etc, which may put your and your family’s financial goals at risk. Having a contingency fund in liquid investments, adequate health, and life insurance covers are also part of financial planning.

In investing, having well-defined financial goals help tell you the following: • How much money you need to achieve this goal today? • How much more will this goal cost in future (considering inflation)? • How much time is left to save and invest for the goal? • How much you need to invest (regularly or one time) to achieve the goal?

And these are important questions as it allows you to focus and invest with discipline.

There are a few steps involved for goal based planning. 1. Setting goals: Laying out all the goals in life and estimating how much money would be needed to fulfil those goals 2. Budgeting your expenses: One needs to assess how much assets and liabilities they have and come to a conclusion on how much they can afford to invest after all the monthly expenses and paying tax. 3. Calculating your risk appetite: Risk and returns are inter-related, as per ones age they need to calculate how much risk they can take and how long they can stay invested to reap the best returns. It is important to determine long term and short term goals under this parameter. 4. Asset allocation: Different assets have different risk profiles. For example, equity has a higher risk profile compared to gold or fixed deposits. Remember to invest in different asset classes for different goals based on your time horizon. 5. Preparing the plan: This is the final step of the process, once you list down and segregate the above four steps the last step becomes very easy and convenient to understand and make the plan. Sometimes you will realise that you need to save/invest more to achieve your goals and you may not have that kind of income right away but you should always start with what you can right now. Don’t wait for your income to increase and then start the investment plan, it doesn’t work that way.

Discipline and Focus are essential in achieving Financial Success

Focus and discipline are two most important attributes for achieving success in any aspect of life. Focus will prevent from getting distracted from your goal and discipline is how you maintain focus as you work towards your goal. After a plan is made the execution at that very moment is crucial, sometimes a plan that is made today may not be the ideal plan after 6 months or 1 year. The earlier you start investing, irrespective of amounts, higher is your chance of succeeding in your financial goals. This plan should also be reviewed and rectified if needed at frequent intervals to achieve the goals and ensure maximum returns. Having a goal-based financial plan, saving, and investing according to your financial plans, will help you ensure financial security and achieve different goals in a time-bound way. So make a plan as per your goals or consult a professional who will take you through this process and achieve financial success

The writer is an investment consultant and business coach. Email: mahesh@maheshpai.in

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It’s the Time to Labour! Or is it?

Is it time to labour or is it yet another false alarm? Should you head over to the hospital or wait at home until a more pressing signal alarms you? These are only a few of the many doubts that surface on the anvil of delivering your baby

Labour is defined as the series of continuous, progressive contractions of the uterus that set off the process of birthing the baby. Ideally, one is expected to go into labour after the 37th week of pregnancy. As the due date approaches, mothers-to-be are fraught with an unsettling apprehension – is it time yet?

Certainly, the mixed signals don’t make it any easier. By mixed signals, we are referring to the occurrence of false labour pain. Also known as Braxton Hicks Contractions, this pain is described as a ‘tightening’ in the abdomen that does not cause dilation. In other words, during false labour, the pain does not increase in duration, intensity, and frequency, and is generally irregular. How then, does one identify when true labour occurs?

True labour, as the definition suggests, is marked by progressive and continuous contractions. This implies that the contractions will occur at regular intervals, increasing in both frequency and intensity. With contractions getting closer together, you will know that it is labour for sure. The contractions are coupled with cervical changes, that is, dilation, and the passage of show, which is basically the discharge of mucus with some amounts of blood.

However, it is completely alright if you are confused. Just pay close attention to how far apart the contractions occur. If that is stressing you out, stop worrying over it and head right to the hospital, even if that means going back home because it is not yet time to deliver the baby. It will not be a trip wasted, for it will make you feel at ease, reassuring you that your doctor has always got your back.

While that is sorted, it is important to note that labour progresses in three stages. The first stage begins with the onset of true labour and culminates in the full dilation of the cervix. This stage is further divided into the latent stage and the active stage. During the latent phase, the cervix dilates upto 4 centimetres. This is known to be the longest phase of labour, lasting around 12-16 hours, with generally 12 hours for first time mothers (primies) and 6 hours for those who have previously delivered children.

At this phase, treat yourself to some soothing music, light some scented candles, and make sure that you are as comfortable as you can be. Surround yourself with people you trust, have your birthing buddy by your

SIGNS OF TRUE LABOUR

- Regular pattern of contractions - Increase in the intensity of pain - Contractions are closer together - There are cervical changes i.e dilation - Passage of show- discharge of mucus along with some blood - Your ‘water’ breaks or the amniotic sac ruptures

side, and keep yourself informed about the progress of that someone inside. Avoid consuming heavy food items. Rather, have a light serving of soup or crackers. Although this is the least intense stage of labour, make sure that you are close enough to make it to the hospital in case of any worries in a timely manner. The active phase of labour begins when the dilation exceeds 4 centimetres and extends upto the end of the first stage at 10 centimetres. Here, the contractions are likely to increase in frequency and intensity with 1-2 contractions every ten minutes. It is during this phase that you are likely to be admitted to the hospital. At the Gracias Maternity Hospital, patients are welcomed to the appealing aura of the pre-delivery room, a safe, comfortable space to lounge in before they are moved to the labour room when the second stage of labour begins.

Full dilation of the cervix sets off the second stage of labour, which lasts until the baby is delivered. Now in the sterile delivery room, the patient is cared for by a well-equipped medical army of sorts. A team of two experienced doctors, two hands-on nurses, and one paediatrician oversees and ensures a safe and successful birthing process. This stage is characterised by active pushing of the baby through the birth canal, ultimately culminating with the birth of your baby. Relatively shorter than the first stage, the second stage generally has a duration of thirty minutes to one hour.

After the baby is delivered, your body embarks on the third stage of labour. This time, you deliver the placenta. Yes! The organ that nourished your baby, all warm in the womb, has served its purpose, and now needs to pass. It would take around 30 minutes for this process to play out. The World Health Organisation (WHO) has prescribed a proactive approach to the active management of the third stage of labour (AMTSL). This strategy comprises a three-fold plan of action that includes oxytocin administration, uterine massage, and controlled cord traction. These three components of AMTSL are crucial to mitigate postpartum haemorrhage, a known killer that rides on maternal mortality. Instead of a passive approach, this active management technique involving the administration of oxytocin helps to contract the uterus, thereby preventing excessive blood loss. Uterine massage involves repetitive rubbing of the lower abdomen and gently massaging inwards to stimulate the uterus, enabling it to contract. The third major component of this approach involves clamping the baby’s cord, and pulling on the cord whilst simultaneously applying pressure to expel the placenta.

As the body prepares for post-partum the fourth stage of labour sets in; this stage is all about recovery - you have birthed a beautiful baby, and now it is time to breathe a sigh of relief, marvelling at the wonderful human you created. Two or three hours after birth of the baby, the uterus naturally contracts and expels any remaining materials, shrinking it gradually. This process is hastened by the miracle of breastfeeding, which prompts the generation of oxytocin, aiding in further contraction of the uterus. With the poignance of this phenomenon, one can say that the baby gives birth to the mother.

The question arises – how does one prepare to deal with labour? The answer is simple and clear – the preparation begins from the first time you meet your doctor. Make sure that you have got all your questions answered and all doubts clarified. Promptly attend the pre-natal classes. This will enable you to learn more about the journey that lies ahead, right from identifying the signs of true labour to giving yourself time to heal when it is all over. Bond with your birthing buddy and deliberate on your birthing plan. Weigh your options, make your choices – whether or not you want painless labour or who should be the immediate point of contact in case of priority decision making. While all these essentials factor in to ensure preparedness, don’t force yourself to control each and every aspect of this stage to a point that it overwhelms you. Remember, your doctor’s objective lies in your safety and that of your baby, so don’t shy away from relying on your doctor in any way. Ask as many questions as you can, show up to the hospital as many times until you are sure – do whatever makes you feel secure

V. B. Prabhu Verlekar, a perennial source of positivity

The writer extols the virtues of his guru by touching on the aspects of his professional and personal life

It is rare that I feel elated to write about any particular person. However, one running a professional practice? He says that a client’s trust and confidence along such person who motivates me is the well respected Chartered Accountant in Goa, Vassudeo B. Prabhu Verlekar. He is my ‘guru,’ having taught me the ABC of accounting, in my early learning years at Dempo College of Commerce & Economics, Panaji.

Hence, in this article I will refer to him as Sir. This octogenarian, in his 56th year of professional practice, is full of life. He constantly looks for happiness in circumstances, things or in people. When I was interviewing him for this article, he took me by surprise by asking me, “On a scale of 1 to 10, how happy are you?” He likes to learn from people, however young the other person may be.

I recall one college professor, his then colleague, mentioning to me that whenever Sir used to enter the teachers’ room, he used to virtually light up the place with his enthusiasm. He loves to meet and talk to people. I have observed that in any lecture programme or seminars, he can listen to the speakers for hours without losing concentration.

Sir began his practice in 1966 at Panaji, and has been working full time for the last 56 years. He commands a plethora of clients from various strata and fields of society. He has authored multiple books on diverse topics.

Beyond Accounting

His books on Sales Tax, VAT, and GST are extensively referred to by even the Taxation Departments and Courts of Law, besides practitioners.

Recently he has authored the book, ‘360 degrees for seniors for-bindaas living,’ which I feel every person, young or old should read.

He specialises in turnaround management of institutions and businesses. As a government appointed administrator, he completely revived Goa State Cooperative Bank, which was on the verge of collapse due to heavy losses. As President of Saraswat Education Society, Mapusa for the last 12 years, he was responsible for developing the institution from a high school to a Junior College of Arts, Science, Commerce, Vocational courses and College of Commerce & Management.

He also contributed to the development of Shri Devki Krishna Ravalnath Saunsthan (his family deity), Marcela, Goa. His When one looks at his ever smiling face, his bright eyes, and pleasing personality, one cannot but conclude that Sir is an embodiment of contentment; having lived his life to the fullest, whilst taking it easy contribution to the Rotary Club of Mapusa is also laudable. Sir is also a lover of the arts and has published a book on the renowned Goan artist, Vamona Navelcar-Art & Reflections, with a collection of selected paintings and thoughts on art and creativity. He is happily married to Rasika who has been a perfect life partner for the past 50 years. His son Ashish, who is also a CA, has carved out his own practice and is very well known in Goan social circles. His daughter Tanya Kenkare is a qualified architect, now settled in the USA. On being asked what his advice is for with good service form the foundation of a successful practice. Always give value addition to the client which is more than expected by the client. He points out the mistakes of the client only in a polite manner. He has cherished and followed principles in his practice in a very careful manner. What about personal behaviour? He says that one should never give unsolicited advice, never compare yourself with others and always avoid conflict with others. He believes in finding happiness even in small things, which adds to a treasure of happiness over time. In everybody he meets, he looks for good qualities and is very compassionate and helpful. He never hankers after publicity. He was a Chartered Accountant and sort of mentor to Late Manohar Parrikar. In my view, he was amongst the ten closest people to the former Chief Minister; so much so that Parrikar publicly admitted that several decades back, he had voted for Congress, only because Verlekar told him to defeat the formidable MGP candidate in that party’s bastion. Back then Verlekar had taken charge of the election campaign in Mapusa Constituency in order to end the era of that V. B. Prabhu Verlekar party. But he never took any advantage of his proximity to Parrikar; instead he helped the former Chief Minister in stabilising the Mapusa Urban Co-operative Bank and Goa State Co-operative Bank. However, he kept himself away from contesting any election. Several people have told me about his extensive range of interest in art, music, literature, education, banking, huge friend circle, yoga, travel, socialising, etc. I do not recall any other person who has a multifaceted personality like Sir. He has traveled extensively all over the world. And how does Sir keep himself fit? He indulges in extensive yoga including pranayam every day. When one looks at his ever smiling face, his bright eyes, and pleasing personality, one cannot but conclude that Sir is an embodiment of contentment having lived his life to the fullest, whilst taking it easy. If I am asked to pinpoint one single person who has lived his personal, professional and social life in a most fulfilling manner, I would have no hesitation in naming my Guru, Vassudeo B. Prabhu Verlekar

PAPER MOON

Paper Moon debuts in India at Taj Fort Aguada Resort & Spa

Enjoy the taste of Italy as Paper Moon finds its home in Goa

Spelt, Mixed Vegetables and Prawns Paper Moon Wild Rocket Salad, Cherry Tomatoes, Parmesan Cheese

Indian Hotels Company (IHCL), India’s largest hospitality company, has introduced the Italian restaurant, Paper Moon in Goa. This marks the debut of the brand in India, which will bring alive authentic Italian gastronomic tradition. Located in the historic settings of Taj Fort Aguada Resort and Spa, Goa, Paper Moon overlooks the historic 16th century coastal fortand the Arabian Sea, offering guests a culinary experience with a view.

Speaking about the launch, Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “IHCL has a long-standing legacy of being a pioneer in introducing unique culinary concepts and cuisines, while offering guests the best-inclass dining experiences. We are delighted to partner with Ristorante Paper Moon S.R.L to bring Paper Moon to India. With its

Parma Ham with Melon Marinated Salmon Tartare, Tomato Coulis, Avocado & Cucumber

marquee location at Taj Fort Aguada Resort & Spa, Goa, India’s first luxury beach resort, Paper Moon will offer authentic Italian flavours in a setting true to the cuisine.”

Paper Moon, which opened its first restaurant in Milan in 1977, will present its trademark traditional Italian cuisine at its new outpost, which reflects Goa’s vibrant spirit; crafted using the freshest produce, the menu at Paper Moon changes with the season.

An exquisite choice of ingredients will allow guests to experience a fresh variety of delicacies every season. Guests can choose from a wide selection of wines and cocktails made with local ingredients to complement popular dishes, and also experience a cafe offering the best Italian coffee and drinks. Combined with the warmth of Taj’s legendary hospitality and service excellence, Paper Moon will bring alive the magic of a true Italian culinary experience in the heart of Goa.

Speaking on the occasion, Claudio Bertoni and his team, Ristorante Paper Moon S.R.L said, “From the heart of Milan’s fashion district to the heart of India’s leading beach destination, Paper Moon has made its way across the globe for over four decades, bringing alive authentic Italian flavours. With this opening at Taj Fort Aguada Resort & Spa in Goa, Paper Moon is excited to introduce our legendary culinary experience in India, and we are delighted to partner with IHCL for the journey of the brand in India.”

Born out of love for honest Italian cuisine, Paper Moon stands as a beacon of authenticity and epicurean delight at Taj Fort Aguada Resort & Spa, Goa

Paper Moon Tiramisu