Corporate citizen third issue by Corporate Citizen

Corporate Citizen T he Co ol Side Of Bu sine ss

HDFC Bank sets world record for its blood donation campaign

Volume 1, Issue No. 3 / January 1-15, 2015 / Rs.50

Dynamic Duo 3

Amruta and Devendra Fadnavis

Awesome Alliance

Cradle of Leadership:

Dr Devang Khakkar, Director, IIT Powai

Mercedes was Hitlerâ&#x20AC;&#x2122;s idea Maharashtraâ&#x20AC;&#x2122;s Management Guru

Dr P C Shejwalkar

From the desk of Editor-In-Chief

Lesson of ‘know thy neighour’

t was sometime in the late 2000s. I was relaxing outside a cottage of a sea-facing holiday resort with my wife in Chennai. A Westerner passed by and to my surprise, waved out me and said ``Hello Professor.’’ I was intrigued. How would he know that I’m a professor? I, for sure, did not know him at all. Curious, I got up to greet him and politely asked him how he knew me and my profession. He smiled and said, ``I’m your next door neighbour--- staying right next to your cottage. Are we not supposed to know our neighbour? I enquired and then googled to know more about you. So you are a Colonel too…!” And then he remarked, “are you not wasting your time and money? You are simply sitting in this verandah for the last two days ….. Why don’t you enjoy the sands of this beautiful beach?” He asked me, “Don’t you have any interest in cricket?” I replied, “No, but at times I watch Indo-Pak matches.’’ He then said, “Okkey. Now that you are not asking anything about me, let me introduce myself…I am Gary Kirsten, the coach for Indian Cricket team. We played with Sri Lanka and the team is now relaxing here.” I was taken aback and felt a bit embarrassed. Here is a public personality enquiring about me, his neighbour and I had not even bothered to ask about him. I was left startled. After that, Kirsten and I spent quite some time over a cup of tea. One of the questions

that I asked him was the secret of Sachin Tendulkar’s indefatigable spirit and energy. He replied, ``although Sachin has been playing for so many years, he still feels he is new to cricket, when he gets on to the field. He is always the first to come to the ground for practice sessions and ever so enthusiastic in his attitude and action. Success has not gone to his head’’ So, Kirsten left behind a lot for me to introspect and I’m sure this editorial would also make you think. How many of us care to know our neighbours or care to know about them, whether in our housing society or corporate office? We, more often than not, confine our interaction to our immediate colleagues or just ourselves and hardly ever share joys or sorrows of so many people working in our environment. Also, how many of us have the ability to be relentlessly enthusiastic about our work, no matter how many years we have put in, in our respective organisation? Very rarely would be a safe answer. Isn’t it time to take off from the cyberspace and get real with social relationships? It’s time for such introspection. Though, as far as I am concerned, I am too old, having missed many an opportunity.

Dr (Col.) A. Balasubramanian editor-in-chief

January 1-15, 2015 / Corporate Citizen / 1

Contents Volume 1 Issue No. 3 January 1-15, 2015

feedback Corporate Citizen receives heartfelt response

NEWSMAKERS 2014

collywood Chatpata Chatter from the Corporate World

Wax Eloquent Who said what and why

cradle of leadership Dr Devang Khakkar, Director, IIT Powai

investigation Commodity Markets tumble

Corporate history Mercedes was Hitlerâ&#x20AC;&#x2122;s idea

CSR initiative HDFC Bankâ&#x20AC;&#x2122;s World Record

education pioneers Dr. P.C. Shejwalkar on his life journey as management guru

corporate citizen survey Young professionals prefer good environment at workplace

18th NHRDN Convention in Mumbai Riding the VUCA tide!

2 / Corporate Citizen / January 1-15, 2015

Dynamic Duo 3 Coverstory

Awesome Alliance Amruta Fadnavis, Associate Vice President of Axis Bank and her husband Chief Minister Devendra Fadnavis have created an affable marriage alliance

Debate Top Executives on relevance of the bell curve

Woman achievers A chat with Aparna Sharma, Country Head-HR at Lafarge India Pvt. Ltd

CSR initiative Nurturing young lives

green enterpreneur Business of Raddi

Delhi Belly Gurgaon-Going great guns

aviation Air passengers can now fight for their delayed flights

student of the fortnight NDA Boys

Courage unlimited Arunima Sinha

Off beat teacher Dharmendra Satapathy

bollywood biz Ten richest actors in the world

Health Shake hands...No, fist bump!

Pearls of wisdom There are no stumbling blocks, only stepping stones

Manage Money Understanding a Balance Sheet

Book review No Holy Cows in business by Kiran Bhat & Sekhar Seshan January 1-15, 2015 / Corporate Citizen / 3

Editor-In-Chief Dr (Col.) A. Balasubramanian Editor Dr Suresh Chandra Padhy

food Explore Delhiâ&#x20AC;&#x2122;s Parantha Lane

featherlite Tweets from the corporate world

Chief Marketing Officer Subash Krishnan Design & Art Direction Kiyan Gupta, The Purple Stroke

innovation A portable washing machine for just Rs 1500

Consulting Editor Vinita Deshmukh

citizen claps & slaps Our bouquets and brickbats for the fortnight

Graphic Designer Anil Walunj Senior Business Writer Mahalakshmi Hariharan Senior Sub-Editor Neeraj Varty Writers Delhi Bureau Anuradha Shukla Pradeep Mathur Swati Kumari Mumbai Bureau Vidyut Kumar Ta Bangalore Bureau Priyadarshini Nandy Geeta Rao

26 Be A Corporate Citizen

How do you like this issue of Corporate Citizen - The Cool Side of Business? Send in your views, news, suggestions and contributions to corporatecitizenwriters@gmail.com We would love to hear from you! 4 / Corporate Citizen / January 1-15, 2015

Pune Bureau Suchismita Pai Sangeeta Ghosh Dastidar Kalyani Sardesai Arun Prabhudesai Anand Karwa / Muzammil Khan Photographers Moonlight Photo Studio, Nagpur (Cover Pic) Yusuf Khan Ahmed Sheikh For Advertising and Marketing queries email: subash.krishnan@corporatecitizen.in (Corporate Citizen does not accept responsibility for returning unsolicited manuscripts and photographs. All unsolicited material should be accompanied by self-addressed envelopes and sufficient postage) Tel. (020) 30631075 / 30631076

feedback May I add I hadn’t known about this magazine…and it was great to discover this wonderful magazine. — Sobha J George Director, The Extra Mile The magazine is a fresh approachto business stories, which is quite unique. The tagline (the cool side of business) sounds very appealing. However, I feel the focus should be more on the business stories and less on the features. Apart from that, it seems great. It will take a few issues to master the niche. — Mukund Bhatia Editor at Markets and Markets I must say the first edition was good and readable. As a reader, I would like to see more sector-specific and dedicated information on I.T., telecom, airlines and hospitality on a regular basis in the Corporate Citizen magazine. The need is to try to set a trend for other business magazines. — S. Verma Retired IT professional The theme of the magazine is different. There is a human touch to it. It features a lot of different stories of start-up businesses, investigative stories to Bollywood, thus making it a complete package. I look forward to the next issue. I am sure there will be many more exciting stories to tell. Well done team. — Shruti Shetty Entrepreneur

This magazine is fantastic. Right from the layout to the content, I simply love it. For someone like me who is not into reading hardcore business magazines with too many technical jargons, this is a unique blend of business stories with themes like health, food, travel and the likes. Keep it up. You will go a long way! — Anusha Srinivasan Marketing Executive Business news are a lifeline of finance professionals like me as they help us get real time feel of the market, business opportunities and changing trends. A magazine like the Corporate Citizen brings about the human element and helps readers ‘connect’ directly with people who are in the forefront of the business world. This is an invaluable addition to any corporate professional’s reading list. — Vinit Deo CMD, Posiview Consulting Pvt Ltd

I really enjoyed reading the article about Uma and Ganesh Natarajan.. You have wonderfully captured their spirit here. Their intellect, their good humour, absolute down to earth outlook, Uma’s passion and hard work, Ganesh’s gregarious nature - his ability to encourage just every one around him… all of this comes through beautifully, in the article. I feel so privileged to know Ganesh and Uma and it was so much fun to read the little details of their story .

The content/topics are interesting and the layout is very pleasant. I wish the team and the publication all the very best. — R.Srinivasan Director, AIRA Consulting Private Limited This magazine gives a new meaning to the concept of business magazines. I like the Corporate Citizen’s approach in bringing light-hearted as well as inspiring stories, which is unlike the usual business magazine stuff. — Monica Prabhudesai Entrepreneur January 1-15, 2015 / Corporate Citizen / 5

Newsmakers 2014 Dud Twitter India award of 2014

Rajnikanth

India’s celebrity jail bird of 2014

Subrata Roy

Subrata Roy, the Sahara group chief, who is close to the mightiest of politicians and Bollywood stars of the country was sent to jail in March for not refunding Rs. 20,000 crore of investors’ money. He had procured this money through OPCDs (optionally fully convertible debentures) from lakhs of smalltime investors across the country. Roy’s lawyer pleaded that he would be unable to return this large amount unless he strikes a sale deal of some of his commercial properties overseas and hence he should be let out on bail. The court directed that he be provided office space in Tihar Jail itself. He was provided 600 sq.ft of wi-fi enabled office space from where he has struck some deals but not enough to bail him out of the jail. He spent his New Year’s Eve in these confines.

Inflation tamer of 2014

Raghuram Rajan When Rajinikanth (well, no description required) joined Twitter in May, the users of the macro blogging site lost their wits. Twitter verified his account within minutes of joining and @superstarrajini had already broken records with the number of followers turning from thousands to lakhs.The first tweet by the actor had a video attached to it where he said “I am happy to connect with my fans through social media starting with Twitter.” However, the PR guys that were responsible for managing the account seemed to have forgotten all about it with the account just dropping dead after two tweets promoting the film Kochadaiiyan. The hype died as quickly as it had come and the account just went silent after that. Rajinikanth's Twitter account remained as elusive as the man himself after the initial mercurial craze. The account was brought back to life on his birthday, near the end of 2014 as his next film Lingaa released. Nevertheless, the whole situation has definitely proved a point. Rajnikanth was, still is and always will be close to the hearts of all his fans with 1.15 million followers on Twitter ever made! 6 / Corporate Citizen / January 1-15, 2015

We must give it to Rajan, Governor, Reserve Bank of India, for not having wavered from his goal to tame inflation, and that he has been successful. Industry voices are now calling for a rate cut now only because of his sustained efforts in ensuring that inflation falls to manageable levels. Besides, economic conditions too are better today. The mid-quarterly review held on December 2 saw the RBI maintain rates. While inflation has come down, a pickup in crude prices would again spike it up. The central bank has chosen to see whether the falling trend in retail inflation is sustained. If it feels confident, the bank could cut rate immediately, even before the next mid-quarterly review to be held in February next year. Let’s wait and watch on what the chief does next…

The most googled person by Indians in 2014

SUNNY LEONE

Highest paid CEO of 2014

Vishal Sikka

Infosys got its act together by hiring Vishal Sikka as its CEO with a salary of Rs 30 crore per annum. Large scale attrition and plummeting of Infosys shares spurred Narayan Murthy to bring in a dynamic corporate leader as its head. The objective was to reduce attrition and make use of the latest digital technology that competes with the international market. As www.zdnet.com stated in one of its report, "This was pretty much Infosys' last shot at alleviating the rising panic amongst shareholders as well as employees at the grim state of affairs at what was once India’s pioneering IT company that also served as the industry bellwether. Not only did Infosys not promote its bonafide stars—at least 11 of them abandoned ship in just the last year when founder Narayana Murthy decided that he should assume the reins of Infosys once again—but it also lost the confidence of a flood of middle managers who also decided that this wasn’t the place for them anymore.” Indeed, this second largest IT company in India showed results in the next quarter after Sikka was appointed as CEO in July 2014. A former Chief Technology Officer of SAP, Sikka did his PhD from Syracuse University in the USA, pursuing computer science. Earlier, the corporate world talked about A M Naik, chairman of L&T who is paid Rs.21 crore per annum but he too has been left behind in terms of salary. Sikka’s appointment was indeed a visionary step by Narayan Murthy as things are working out good for Infosys now.

Star banker of 2014

UDAY KOTAK Uday Kotak, Managing Director, Kotak Mahindra Bank, entered the top league in 2014. After scooping up ING Vysya Bank for about Rs 15,000 crore, it is no secret that Uday Kotak, India’s wealthiest self-made banker, has indeed made it to the top. Kotak was scouting for an acquisition since a while. The merger of ING Vysya with Kotak Mahindra propels

If you thought that Narendra Modi was the most googled person of 2014, you are sadly mistaken. It was the porno turned Bollywood star, Sunny Leone who was the most searched person by Indians. The term ‘Google it’ has become synonymous with looking for answers on the internet. So ubiquitous is the search engine, that it has almost completely replaced the need for encyclopaedias. Google has vastly contributed to the average Indian’s quest for knowledge, or has it? According to a list of the most searched persons online released by none other than Google, Indians do not search most for scientists, politicians, or even actors. Leone trumps even Narendra Modi, who is the most popular politician in India, as well as superstar Salman Khan. Interestingly, Leone has bagged the top spot not just in 2014 but has held that title for the past three years in a row. Last fortnight, Google released a list of the most searched topics and people on their website. India’s top searches showed that adult-film star Sunny Leone beat Narendra Modi to the top post and the evergreen bachelor actor Salman Khan came in third place. So instead of searching for Sunny Leone, here’s a list of people, initiatives or organizations Indians could/ should have looked up in the universe of information out there: Kailash Satyarthi, Mars Orbiter Mission, MOM, and Mangalyaan, Swach Bharat Abhiyan and18th SAARC summit and so on. (news courtsey:www.thenewsminute.com)

the latter into the top ranks of India’s private lenders at number four. The combined entity will have a network of more than 1,200 branches across the country. Setting up new branches is no easy feat in India and an equivalent number would have taken the bank well over two years to build out. The acquisition of the Centurion Bank of Punjab by HDFC Bank in 2008 for Rs 9,510 crore was the biggest merger in domestic banking industry. Well played, must say. January 1-15, 2015 / Corporate Citizen / 7

Newsmakers 2014 Best suited CEO of 2014

Mark Zuckerberg

Great Escape of 2014

K Nityananda Reddy

K Nityananda Reddy, Co-Founder and Vice Chairman, Aurobindo Pharma was no less a “Tiger” at Hyderabad’s Banjara hills when he thwarted a vain bid on his life by a gunman with AK 47 in November 2014. Not to be muscled down, Reddy who was attacked as he sat in the front seat of his car gripped the weapon and pushed it up; this triggered a few blank shots. But, with help from his brother K Prasad Reddy, the goon was soon overpowered who abandoned his failed attempt. So, move aside ‘Rascala’ and ‘Lingaa’, business tycoons and not goons prove their ‘Rocky’ might too!

Parody Twitter account of 2014

Salman Rushdie’s

Mark Zuckerberg, Chairman and CEO of Facebook Inc, is among one of the few people in history who are better known by their attire. Mark is usually dressed in a round-neck grey t-shirt, a pair of blue jeans, sandals, and even sports hoodies sometimes. Zuckerberg wore suits only for a few occasions like his wedding, G8 summit in 2011, for meeting the U.S. President in 2011 and Japanese PM in 2012, and at Elysee Palace at Paris in 2011, till now. This makes it interesting to note why he might have worn a black formal suit for his meeting with the Indian supremo in 2014. Nobody knows the exact reason or Mark's intentions behind the same, but one thing that we do know is that he wears suits only for meeting the most powerful personalities.

Online shopping hit event of 2014

Flipkart’s “Big Billion Day Sale” was the country’s largest online shopping event by far. While the sale made Flipkart’s revenues shoot up by Rs. 600 crore, it also led to a lot of disgruntled customers at the end of the day. Flipkart offered huge and unrealistic discounts on many products but

many users accused the e-commerce giant of inflating the product prices for making their discounts look bigger. Flipkart reported to have received a billion hits that day but the website was plagued by frequent outages due to strenuous server load, leaving the many prospective buyers disappointed and frustrated. Some buyers got their orders cancelled automatically, and many weren’t able to login into the website for shopping. These enraged buyers then lashed out at Flipkart severely on the popular social network platforms. These Flipkart related jokes and rebukes trended so much that the founders personally apologized to all their users.

8 / Corporate Citizen / January 1-15, 2015

Salman Rushdie, British Indian novelist got worried on seeing his Twitter followers and fans interacting with a parody account of Rushdie, thinking it was actually the writer himself. The owner of the parody account had tweeted a slightly mocking tweet about two leading newspapers of the country. Its followers immediately replied to it, shocked and thinking that it was the actual author himself. Rushdie then told his followers that they could distinguish between his actual account and his fake one, by ‘following the blue ticks’. The parody account, ‘RushdieExplainsIndia’, states that it was ‘graciously blessed by Sir (Rushdie) himself’. The owner later tweeted an apology to Rushdie. (http://www.thenewsminute.com/)

Pharma tycoon of 2014

Dilip Shanghvi

Dilip Shanghvi, Founder and CEO of Sun Pharmaceutical Industries Ltd., whose US $4 billion landmark acquisition bid for Ranbaxy Laboratories (worth $1.7 billion) through an exchange of shares in April 2014, catapults the joint entity as the largest pharmaceutical company in India and Sun as the world’s fifthlargest manufacturer of generic drugs. The deal marks Shanghvi as an astute investor who actually struck the deal by paying 61 % less than what Japan’s Daiichi Sankyo had paid to acquire Ranbaxy in 2008 at $4.6 billion. The son who borrowed Rs10,000 from his father as seed money today rings in a net worth of $18 billion (September 2014) as per Forbes listing and is the second richest individual in India. With Ranbaxy marking Shanghvi’s 16th acquisition in two decades, who knows when this tactical turnover strategist is on the prowl again?

Super scion daughters of 2014

Preetha Reddy

Dr Prathap C Reddy, founder-chairman of Apollo Hospitals Enterprise Ltd., surely knows his ABC’s on succession planning, and this time, his daughters have much to gain. Like a true father while senior Reddy has been grooming his daughters into various leadership roles within the hospital conglomerate, 2014 saw daddy taking a pragmatic step to chart out a potential ‘will’ to assign specific roles to each of his daughters.The boardroom rejig empowers all four siblings to prove their mettle in their new designated positions. The succession planning flowchart assigns Preetha as Executive Vice President, Suneeta as Managing Director, Shobana as Executive Vice Chairperson and Sangita as Joint Managing Director. “Daddy’s little girls” are expected to come to their own with a rotating chairmanship model mooted to enable each of the sisters to take up chairmanship for a few years. This is a sure shot signal for stakeholders to take the ‘sister act’ seriously as they bond over boardroom chats!

Super scion son of 2014

Rishad Premji

Debutant of Forbes List 2014

Hasmukh Chudgar Azim Premji, Chairman, Wipro Ltd. has perfected the corporate and entrepreneurial character of a social leader championing tolerance, honesty, modesty, ethical and social responsibilities. These traits were recognised by way of the coveted ‘Swiss Ambassador’s Award 2014’, given to inspirational and socially responsible leadership. His values remain undeterred and so do his investment goals, with markets rife in 2014 on Premji’s plans of buying around 5 per cent stake in HDFC Life, through a secondary purchase. Adding another feather is his No.3 position on the Forbes rich list with a net wealth of $16.4 billion. Son Rishad, current Chief Strategy Officer, too has resounded business insights by taking the helm of a $ 100 million venture capital fund to back start-ups and is slowly inching to join the Wipro board sometime next year or 2016. With Wipro developing next generation technology platforms, a GenNext leader to herald the empire is surely welcome!

Hasmukh Chudgar, founder of privately held Intas Pharmaceuticals Ltd., gained a debut entry ranking 80th in the Forbes list of rich individuals in 2014. With a net worth of $ 1.2 billion, this fortune turnaround was seen possible due to a deal with private equity firm ChrysCapital (that held 16% stake in Intas), relinquishing its’ 10% stake to Singapore government’s investment arm, Temasek Holdings Pte. Revaluation pegs Intas at a close $1.5 billion. Meanwhile Chudgar’s sons, Nimish, Binish and Urmish, filed a red herring prospectus and were granted SEBI approval. But the market was abuzz with an uneasy vibe when they let go of the approved sanction blaming it on market sluggishness. Whether Ahmedabad-based Intas re-orders its plans for an IPO (initial public offering) to feed its fortunes, is best left to the future! January 1-15, 2015 / Corporate Citizen / 9

collywood

People in the news

From Left to right: Baba Kalyani, Rahul Bajaj, Abhay Firodia, Cyrus Poonawalla and Anu Aga

Goals set

So many from Pune! As 2014 comes to a close, it is heartening to note that, Pune, which was once called the country cousin of Mumbai, has several stalwart industrialists in the prestigious Forbes Richest Indians list. Dr Baba N Kalyani, Abhay Firodia, Anu Aga, Cyrus Poonawalla, Rahul Bajaj and Atul and Sagar Chordia are amongst the 100 Richest Indians who are also known for their philanthropy and their contribution towards putting Pune on the international industrial map. Not many know that every car in the world has some component made by Kalyani’s Bharat Forge or that every sixth child in the world is given a vaccine made by Poonawalla’s Serum Institute of India. Anu Aga is also a Rajya Sabha member and is known for her campaigns for social justice. The Bajaj and Firodia families have been pioneers in the automobile industry in India and it is due their enterprises that Pune came to be known as the Detroit of India. The Chordias have created a stir in the field of futuristic residential and commercial construction and have given Pune a sophisticated skyline. Corporate Citizen thanks all of them for putting Pune on the international map. 10 / Corporate Citizen / January 1-15, 2015

Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI) has set his goals clear. In the monetary policy of 2 December, 2014, the central bank left its key rates unchanged. Rajan told India Inc, “There is a misconception in corporate India that the RBI is not concerned about growth. Monetary policy will not affect growth this quarter. What we have seen is that for sustained growth we have to moderate inflation. It’s very short sighted when people comment on growth. If you are investing are you bothered about rates this quarter? Corporate India should accept that there are some positives.” Rajan believes that the ability to repay by corporates should not be attributed to the RBI. With a goal of taming inflationary pressures, Rajan truly believes that moderate inflation is a must to sustain healthy growth.

MBA student strikes the right note! What would otherwise have been a regular presentation, turned out to be a viral musical sensation. A second year MBA student from Symbiosis Institute of Business Management (SIBM), Tarun Shakyawar, mesmerised his entire class by literally singing his presentation at a college session. He parodied Linking Park’s ‘In the end’ by substituting the song’s lyrics with presentation text. The result was an extremely

entertaining presentation, which not only got the entire class including the teacher to stand up and applaud him, it also became a viral sensation on YouTube, scoring over 400,000 hits as we write. Shakyawar is thrilled with the response his video garnered. “I wanted to do something new. I also knew that the professor always encouraged creativity and hence I had no hesitation in trying out something new.’’

Coming Together

Unlucky Streak Continues…

Flying high! The Competition Commission of India (CCI) is expected to come out with its decision on the merger of Sun Pharma and Ranbaxy soon. CCI officials had earlier indicated a decision was likely by the end of November. It has been delayed, triggering apprehension over the deal facing a hurdle. Although sources said a conditional nod was on its way, regulatory approvals are yet to come from the US Federal Trade Commission too, for the $4 billion merger, the biggest deal in the pharmaceuticals industry in the Asia Pacific this year. CCI chairman Ashok Chawla was not available for comment. Sun Pharma has indicated the merger process could spill over to 2015.

Hindustan Unilever Limited (HUL) has bagged the third position in leadership ranking and is the only Indian company to feature amongst top rankers in the much acclaimed 2014 Global Aon Hewitt Top Companies for Leaders survey. HUL is the only Indian company that has made it to the ‘top 10 globally’ consistent companies since 2007 in its ‘Top Companies for Leaders’ based on its global leadership skills and management of talent pool, globally. HUL’s accolades were based on ensuring a sound mentoring culture at all levels in the organisation. By identifying and grooming its top talent, HUL acts as an important conduit for building leadership talent for the company’s global offices, HUL’s s local counterparts and the industry per se.

Vijay Mallya’s woes do not seem to be getting over any time soon. It’s been two years that his luxury airlines Kingfisher Airlines busted owing to financial crisis and the unwillingness of the banks to issue loans. In another jolt to his image, United Bank of India declared him a ‘wilful defaulter’. This means that he has to step down from all his posts in the corporate world or the company with which he is associated won’t be able to raise funds from any banks. Mallya recently stepped down as the Director of Mangalore Chemicals & Fertilizers which is in a takeover battle between Deepak Fertilizers and Adventz Group. Though the Adventz Group had agreed to keep Mallya as the chairman of MCF for the next few years after the takeover, this move from Mallya came as a surprise to many, but it followed with good news. Mallya owes more than $1bln to Indian banks and any company having him on board won’t be allowed to take loans from Indian banks. It remains to be seen whether his decision to quit was right or wrong, but the shareholders have already spoken.

January 1-15, 2015 / Corporate Citizen / 11

collywood Sachin’s romantic secret out

Sachin Tendulkar, who dons a legendary status in the field of cricket and is also amongst the richest Indians, is a quiet man when it comes to his personal life. However,

his romantic rendezvous was recently disclosed during the launch of his book, `Playing it my way.’ His petite and awesome wife, Anjali confessed she was struck by his cuteness when she was at the airport and did not even know who he was. At that time he was the shining upcoming star of cricket. She ran through the crowd to meet him. Anjali, who was pursuing medicine at the Grant Medical College did not stop at that. She tracked down his phone number from her friend who knew him and that’s how they began meeting each other. When they finally decided to get married, Sachin was in New Zealand for a cricket tournament. He coolly asked Anjali to go and tell his parents that they wanted to get married. Anjali was surprised at this request, but obviously, she had set her heart on him, so was ready to do that. She picked up courage and the rest is beautiful history of a lovely marriage. Kudos!

Smriti Irani as President? Hear this prediction first Union HRD Minister Smriti Irani’s astrologer, Pandit Nathulal Vyas, has spoken. And spoken again. Before the 2014 general elections, the Bhilwara-based jyotishi had reportedly predicted that even if Irani lost the Lok Sabha polls, she would become a minister. Helicopter shot, Mr Vyas. Recently, the astrologer reportedly predicted that Irani would be the country’s President one day. One just hopes the astrologer is sure about what he is saying. Most politicians believe in astrology. Perhaps. Hear what Congress leader Rajiv Shukla said when a journalist asked him for his views on Irani’s visit to Mr Vyas: “I think 80% of politicians approach astrologers and astrologers approach them. So, why do you single out one lady (Irani)? Let her go.” Fair enough. 12 / Corporate Citizen / January 1-15, 2015

Feeling Lonely? Arvind Kejriwal, the ex-CM of New Delhi who resigned from his post just after 48 days of sitting in office might pretend he did a noble thing by resigning over the issue of Jan Lokpal bill, but he must be repenting what he did. The latest shocker to AAP came when one of its biggest stalwarts Kumar Vishwas praised Prime Minister Narendra Modi and slammed his own party. He also warned he would quit politics if AAP turns into a “typical political party” This is definitely not good news for Arvind Kejriwal as he would need as much support as possible from the key leaders in his party ahead of the upcoming Delhi elections. AAP better gets its leaders united or Kejriwal’s worst fears might come true. We wish them all the best for the upcoming polls.

Musically Branded Turf What do artists Dhruv Visvanath, Nischay Parekh and Prateek Kuhad have in common with Cardiff folk group Zervas & Pepper and the Australian pop star Kate MillerHeidke? Well, they all owe their musical launch pads in India to telecom service provider, MTS brand, promoted by the parent company Sistema Shyam TeleServices Ltd (SSTL). SSTL’s long association with the Bacardi NH7 Weekender

music festival to discover new and upcoming talent under its ‘MTS Discover platform’ in a four city musical celebration across Delhi, Pune, Bangalore and Kolkata concluded on November 30. The musical fete definitely made sound brand associations with its target group of musically diverse youngsters. This definitely calls for some revelry and ringtone-heavy profit margins.

Twists and turns

Vijaywada goes the Mumbai way In an innovative move to drive out land sharks from their property, residents in Vijayawada have emulated what Mumbaikars do to ward off land-hungry real estate agents -putting up ‘Not For Sale’ boards. With realtors and corporate houses chasing owners of even dilapidated properties under the new reins of the business capital of Andhra Pradesh, people are reluctant to part with their ancestral properties. The idea is to thwart the onslaught of the apartment culture in favour of individual housing which is fast declining from the cityscape. The government’s drive to construct public utilities too has led to the demand for more space, but residents are not likely to be shoved around for their own space this time.

After Tiger Woods, is Hero MotoCorp now eyeing Colombia star James Rodriguez? Well, looks like India’s largest two-wheeler maker-Hero MotoCorp is now looking at roping in World Cup 2014 star James Rodriguez of Colombia after they had roped in golfer Tiger Woods as global brand ambassador on a four-year deal, according to a report in Livemint. Interestingly, the 23-year-old Rodriguez came into focus at the FIFA World CUP 2014 where he ended with six goals and two assists and instantly became a cult hero, winning the Golden Boot award. Hero MotoCorp is setting up its first manufacturing plant outside India, in Colombia and they want to tap Rodriguez’s popularity in Latin America. According to the person familiar to

this development, the talks are ongoing. Let’s wait and watch on what happens next. Compiled by CC news team

January 1-15, 2015 / Corporate Citizen / 13

wax eloquent

Get the young ones here! With digitisation considered the order of the day, corporate India waxed eloquent on how the future of Indian manufacturing needs to be shaped up via the wave of digital interventions. The 13th Manufacturing Summit held under the aegis of the CII (Confederation of Indian Industry), in Mumbai, provided the much needed forum. The flavour of the discussions centred on prevailing policy reforms, attracting youngsters to jobs in auto industries, digitisation of the manufacturing sector, talent retention and cluster approach from small scale businesses and SMEs. Sample it all! Compiled: Sangeeta Ghosh Dastidar

“There has to be greater emphasis on what we can do (internally) within companies as against what the Government can do. The change we see is that there is a willingness on the part of the Government to make a significant difference in facilitating the manufacturing sector in India.”

“We live in an experience economy, where the customer wants to revel in new sensory experiences. Thanks to digital simulation, the customer may be taken through a variety of experiences to equip their minds so as to better arrive on appropriate decisions on products, design definitions or process implementations.” Chandan Chowdhury, Managing Director, Dassault Systems Pvt India Ltd, on the predictive powers of intelligent systems for data interpretion accurately for informed decision, as part of the overall business framework.

Jamshyd N Godrej, Chairman and Managing Director, Godrej & Boyce Mfg Co Ltd, on how companies can leverage themselves in the current business environment that is witnessing government efforts for making its ‘Make In India’ agenda a reality in the near future.

“The era of pure automation is over in both manufacturing and software domains. The need is to progress into SI and BI and board ‘cloud sensors’, in the business

space.” Amod Malviya, Chief Technological Officer, Flipkart Internet Pvt Ltd, on how 3D printing has lowered visible barriers for technological interventions to be integrated within processes in the manufacturing domain.

“Manufacturing is process defined and innovation is not a fallout of this industry. As a sector, manufacturing is not perceived as glamorous by its value creating talent. How can we then fuel the ‘Make in India’ agenda?” Adil Malia, Global Head for Leadership, Learning and People Management, Essar Group, on the lack of creative value proposition in the manufacturing sector, a requirement for retaining the best talent pool.

14 / Corporate Citizen / January 1-15, 2015

“In schools and colleges, students are not taught to deal with people. If you can do it in the beginning of your career, it can go a long way…There is less of ‘R’ and more of development (as in R&D) in the sector…”

Vikram Kasbekar, Senior VP-Operations and Suppy Chain, Hero MotoCorp Limited, on the fallout of our education system on the talent pool as poor managers at work; and the industry’s attitude on research-led initiatives.

“We run missions to Mars, but lose out on domestic labour intensive industries such as toys, manufacturing of electronics goods and shipbuilding to expensive imports. The need is for a supportive tax system for these and a social safety net for urban workers.” Ajay Shankar, Member Secretary of National Manufacturing Competitiveness Council (NMCC), on visionary changes that can lift the current status of labour-intensive manufacturing sectors.

“Only 10 per cent of engineering recruits are employable in the manufacturing sector. What is required is constant training. About 50 per cent of trained pool of talent is subject to poaching in the industry which makes the cost of hiring non-viable for SMEs. If subsidy is a ‘public bad’, then training recruits should translate to ‘public good’…” Ajit Ranade, Chief Economist, Aditya Birla Group, on promoting nationalised training certification programmes skewed to the manufacturing sector, which could be linked to tax benefits for companies that conduct standarised training platforms for candidates. The move is seen as a a possible detractor to the prevailing aggressive poaching of trained talent in the sector.

“There is a need to spruce up our digital balance sheet that takes into tow all assets, including information and data protocols, our customer base, suppliers and competitors too.”

G Katragadda, Group Chief Technology Officer, Tata Sons, on the precision of digital technology that needs to be integrated within manufacturing processes in a bid to replace the Indian concept of ‘jugaad’.

“Certain minor and other useful reforms such as in the recent labour laws are a positive move in many decades, but the need is to benchmark internal (within companies) parameters. The requirement is also to implement these parameters (without changing any sort of legalities), at all levels of government for quality, sustainable and zero-defect manufacturing, and thus act as individual centres of excellence.”

Naushad Forbes, Director, Forbes Marshall Pvt Ltd, on how manufacturers can selfsustain themselves by working with state and national governments in bringing excellence in their respective sectors without relying much on changing reformled legalities. sangeetagd2010@gmail.com January 1-15, 2015 / Corporate Citizen / 15

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16 / Corporate Citizen / January 1-15, 2015

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Awesome alliance Dynamic Duo 3

Amruta Fadnavis, Associate Vice President of Axis Bank and her husband Chief Minister Devendra Fadnavis have hit the right marital note, giving each other space in their respective high pressure jobs. That truly makes for an awesome alliance. Vinita Deshmukh

Picture this: Amruta, is the daughter of Dr. Sharad and Dr. Charu Ranade – noted ophthalmologist and gynecologist respectively. Her brother Gaurav too is a doctor. She studied in St Joseph’s Convent, Nagpur and is presently the Associate Vice President of Axis Bank, Nagpur. Amruta has grown up in a close knit cosmopolitan family of professionals who quietly pursue their life and career. She has recently got a transfer to Mumbai, after her husband Devendra became the Chief Minister of Maharashtra. Childhood

Devendra Fadnavis is the son of two-time legislative council member from Nagpur, the late Gangadhar-Rao Fadnavis. His father was actively into politics as member of the Janata Party and BJP. His mother, Saralati is a housewife. His aunt, Shobhatai Fadnavis was a minister in the saffron alliance government in the mid-90s and is presently a legislative council member. Devendra, as a child, was admitted to the Indira convent but he refused to go as it was named after the then Prime Minister Indira Gandhi who had sent his father to jail during the Emergency. He was subsequently sent to Saraswati Vidyalaya, and then studied Law. He has grown up in an atmosphere surrounded by politics. Pic Credit: The Indian Express

Unity in Diversity

Amruta and Devendra Fadnavis grew up in the same Orange City of Nagpur, but came from extremely different backgrounds. Amruta is a modern woman with a flamboyant taste for colours and attire, much suited to her dynamic personality. She continues to live that way but says her perception of life has changed over the years. Says she, with delightful ease, ”Earlier it was `Live Life King size’. Now with Deven’s influence it is `Make life useful to others and give happiness to others.’’’ Such an easy rollover from a cushy life to one that comes with immense public responsibility is not easy, but Amruta is enlightened enough to take it in her stride. Her father, Dr. Ranade says vociferously, ”Amruta January 1-15, 2015 / Corporate Citizen / 17

MBA rules

Devendra, Amruta & Divija on a rare holiday

Amruta is very straightforward and affectionate. Ever since I became State President I’ve not been able to give time to my family. Amruta is my emotional anchor- Devendra Fadnavis will never do what she does not want to, but once she decides, she will do it with zest and full commitment.“ Like they say, love is…when your differences make no difference! At the heart of this relationship is a deep understanding of each other’s profession and the need to give space to each other. They have a five year old daughter, Divija, who believes her father has been given a big responsibility by P M Modi. She was the one who innocently broke the news to a television channel that her father was going to be appointed as the chief minister. Says Amruta, ”Otherwise it was a secret to be kept between my mother-in-law, mother and me, before the formal announcement.’’ Amruta and Divija will soon move to Varsha, the official residence of the Chief Minister of Maharashtra. What is outstanding about Amruta and Devendra is their humility and down-to-earth approach while interacting with people, even strangers.

The Proposal

If it was not for Amruta’s mother’s friend who not only suggested Devendra’s proposal for Amruta but insisted that they should at least meet just once, this alliance would probably have not materialized. The thought of having any matrimonial alliance with a politician’s family was totally out of the radar of the Ranade family. Moreover, Amruta was reluctant to be part of a formal setting of ”seeing” the boy either at his home or hers. So Amruta suggested they meet without the paraphernalia of each other’s parents. It was Amruta’s birthday on 9th April (2005) when they first met. Devendra chose his best friend’s house for the meeting. Amruta was as usual busy with her work at the bank and she directly went to the place of the meeting after she finished work at 7.30p m. Devendra though, seemed to have taken the appointment more seriously -- he went to the temple to pay obeisance to God before the rendezvous. Amruta was 18 / Corporate Citizen / January 1-15, 2015

quite sure she did not want to take a decision at this first meeting; she thought it would be a good opportunity to get to know him and his life. At that point of time, Devendra was a second time BJP MLA so was already a successful and popular politician.

Politician, with a difference

Quite predictably, at the outset, the conversation revolved around Devendra’s life as a politician. Says Amruta, ”I was a bit apprehensive in the beginning about him belonging to the political fraternity which largely has a tarnished image in India. However, as he spoke about his work, his social initiatives through which I saw his dedication and commitment to his work, I changed my mind about him as a politician. I realized here was an honest politician who worked for social reform. More importantly, he seemed so cool and casual, without any airs or lofty attitude.“ He also explained to her that his timings were irregular, and could not write down a schedule for his everyday work. He asked her whether she could cope with such uncertainties of daily life. Amruta’s first impression was that Devendra was an open-minded person and not the dominating kind who would like to dictate terms to his life partner. When Devendra asked her whether she would like to continue with her job, Amruta answered in the affirmative but wondered what his mother would think of it. Devendra said, ”You need not think about that. You should do what you want you want to do in life, and marriage should not be a barrier. You must pursue your career as economic independence of women is necessary for an empowered society.“ Amruta says she liked him as a person in the first meeting itself, but both of them decided to meet some more before they made a commitment.

Fat h e r’ s s c r u t i n y

Amruta’s father Dr. Ranade got into action once his daughter

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Maharashtra

but is now so very used to her house becoming a public place. Says she, ”Earlier I used to find it strange that people would walk straight into the house and into any room. I come from a family of professionals. My father likes his routine -- his yoga, walk, going to the clinic on time – so mostly our life was regular, not erratic. Now, I too have got into the groove of Deven’s family and visitors come right into my bedroom and I am very fine with that.’’ Amruta also fondly speaks about Devendra‘s `big’ family of relatives. ”Even for the smallest of functions, we have a big crowd at home,’’ she quips. For his oath taking ceremony close to 7000 family, friends and acquaintances went to Mumbai, of whom 20 were from her maternal side and 200 from Devendra’s family side.

She is my emotional anchor

What was Devendra’s first impression about Amruta? Says he, ”She is a very transparent person, straight-forward and loving. Ever since I became the State President I have been unable to give any time to my family. Amruta is my emotional anchor and I thank her for being very understanding.’’

M a k e h o m e & w o r k , wat e r t i g h t

Amruta and her five year old daughter Divija are all set to move to Varsha soon, the CM’s official residence. She has also sought a trans-

I was a bit apprehensive in the beginning about him belonging to the political fraternity, which is largely tarnished in India” - Amruta Fadnavis

Euphoria after Devendra is announced as CM

showed inclination towards him. Reminisces Ranade,”I decided to find out more about Devendra through my patients; politicians in opposition parties and several other citizens. Each one of them spoke highly of Devendra. That’s when I realized that he was different from the rest.“ And then he adds in a lighter tone, ”Earlier, if my son had said he would like to be a politician, I would have resisted. But now if he wants to become a politician like Devendra, then it is fine with me.’’ Seven months later, Amruta and Devendra tied the knot -- on 17th November, 2005. Both the families decided to split the wedding expenses – her parents would bear the morning marriage expenses and the Fadnavis family would bear the expenses of the wedding reception. While Amruta’s parents rejoiced at the alliance, her father received the biggest shock of his life at the wedding reception. Says he cheekily, ”We had some 400 odd guests from our side and I’ve seen a maximum 1,000 to 2,000 guests at any wedding reception that I’ve attended in my lifetime. However, a mind boggling 70,000 people came for Amruta’s wedding reception and it blew our minds off. I thought I was attending a Kumbh Mela. There were traffic jams all over the city and even Nagpur’s police commissioner found it difficult to come to the venue. That’s when the reality of the life of a popular politician hit me. I realized how famous and adored my son-in-law was.’’ Devendra had earlier told Amruta about how busy he was all the time, with people surrounding him wherever he went. However, Amruta got her first shock when, one evening when she returned from work, she found a stranger coming down the stairs with her gas cylinder and stove. Says she, ”I asked him who he was and why was he bringing all this down.’’ He coolly answered, ”I’ve been waiting for many days to get my gas connection but it is inordinately delayed. So, Saheb has asked me to take it from his house.’’ Amruta says she was amused,

Pic Credit: The Indian Express

Ou r h o m e i s e v e r y o n e ’ s h o m e

Now CM Fadnavis hardly enjoys such relaxed moments

January 1-15, 2015 / Corporate Citizen / 19

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The joyful moment

fer at the Axis Bank and would be working at its corporate office in Mumbai. Totally dedicated to her job, Amruta says, ”While it is very important for a woman to be economically independent it is equally important to keep home and work as two separate entities. You should be so involved at work in office that you forget you have a home, and when you come home, you should completely forget office. If you keep such water tight compartments between home and work, you would achieve the best at both fronts.’’ For Amruta however, the workload is much more than just her bank work, ever since she became Devendra’s wife. Says she, ”People keep coming to my office, requesting me to do their passport work, get them jobs and so on. If I ask them to come home, I know it would be intruding into my quality time reserved for my daughter. So, I manage to help them from the office itself.’’ Now that she is the CM’s wife, can she have any boss in the office, in the real sense of the word? She rues, ”Yes it’s true that my bosses feel it odd to tell me any work. I keep reminding them that I am a subordinate, but I find there is inhibition in treating me as a junior colleague. I must also confess that, lately, I’ve not been able to give 100% to my work ever since Deven has become the CM, as there are so many other commitments on the home front. Looks like I have to fall in line and not get too upset about it. I have tapered down my expectation of myself at work for at times it now seems impossible to juggle between both worlds.’’ Amruta though, advocates working women, particularly if they are married, to manage stress by doing yoga and prayers. And when it gets just too much, ”Just add some humour into your life,’’ she advises. A full-fledged working woman having reached the top rungs of the corporate ladder, would she continue to work? Says Amruta, ”See, I’m married to a politician who is very honest, so his earnings will not be enough if we want to give a good education to Divija. His earnings go for social work and hospitality; hence it is very important that I continue to work. I’ve taken up the gauntlet to ensure that my daughter’s future is safe, secure and sound.’’ Amruta says she brainwashes Divija on the importance of education and standing on her own two feet. Says Amruta, ”We want to bring up Divija as a normal child, like any other. We will support her in whatever she wants to pursue in life so that we respect her identity. I tell her that her father is now akin to a Banyan Tree and even if she blooms into a small plant, she should be able to make a difference in whatever she does.’’ 20 / Corporate Citizen / January 1-15, 2015

V for Victory for the entire family

Divija’s future is in my hands

Besides being an astute politician, Devendra is a poet at heart. Amruta says he knows the lyrics of at least 1,500 Hindi film songs by heart – both, old and new. He particularly loves songs from the film ‘Ashiqui’. Priorities for Divija

With Devendra hardly there at home, Amruta, her mother-in-law and mother together ensure that Divija feels safe and sound. Says Amruta, “I think quality time is very important for Divija’s all-round growth. Even if I am touring, I make it a point that either of her grandmothers is with her. I ensure that she plays with other children and does not lead a secluded life.’’ Amruta is also playing her role as a counselor to Divija against

Just made for each other

Devendra with his mother Sarlatai

the backdrop of sexual assaults that we keep reading about. Says she, ”Aamir Khan in `Satyameva Jayate’ explained in simple language how to keep away from such predators. Since the time Divija was three years old, I’ve been telling her about what she should expect of any strange male behavior; how she doesn’t have to go close to anyone and how she should react if anyone touches her.’’ And what about the old saying that you win a man’s heart through his stomach? Says an amused Amruta, “Deven is very fond of dark chocolates. Otherwise he loves simple Maharashtrian food. Poha is his favourite snack.’’

D e v e n d r a’ s p o e t i c h e a r t

Devendra is overawed by Amruta’s singing talent. ”He loves to hear me sing, that is when he is around! Six months before the Lok Sabha elections, we hardly saw each other. We used to sms each other and I remember I spoke to him after a long time, when we came face to face at a public rally during his election campaigning.’’ Besides being an astute politician, Devendra is a poet at heart. Amruta says he knows the lyrics of at least 1,500 Hindi film songs by heart, both old and new. He particularly loves songs from the film `Ashiqui’. She also admires his speed of reading. Says Amruta, ”He does lateral reading and I always wonder how he grasps so much in such a short time.’’ Dr. Ranade is a witness to that. Says he, “I once attended the release of a poetry book for which Devendra was invited as the chief guest. It was only on stage that he browsed through the book for the first time and gave a speech analyzing all the poems therein. People were so impressed that they gave him a thunderous applause. I was

Aamir Khan in ‘Satyamev Jayate’ explains in simple language as to how to keep away from such predators. Since the time Divija was three years old, I’ve been telling about what she should expect of any strange male behaviour-Amruta Fadnavis truly amazed.’’ The longest time Amruta and Devendra spent time together was on their eight day honeymoon trip to Manali. Other than that Amruta does not remember a single instance when they holidayed together. They have also seen a movie once together and that was Aamir Khan’s `Lagaan.’ That was when Amruta realized the softness of his heart. ”I looked through the corners of my eyes and saw tears rolling down his cheeks.’’ Which is the best gift she has received from Devendra? ”I cherish the mangalsutra that he gifted me, though I don’t always wear it as I do not like any jewellery around my neck. He is not the kind to load you with gifts or give compliments. If I wear something nice, I used to fish for compliments as he hardly noticed. But I soon realized I could make out his admiration from his gestures.’’ In an interview to DNA, Amruta’s mother-in-law, Sarita, stated that Amruta had made an immense contribution in shaping Devendra’s life and that she was the biggest guiding force of his life. That they bought each other sarees for the oath taking ceremony which speaks of the harmony between both of them. Maharashtra has the youngest, dedicated and the most honest Chief Minister. In turn, the Chief Minister has a dynamic corporate leader as his wife, who equanimously juggles between her two roles. Indeed, to be a chief minister’s wife and to simultaneously be a high ranking bank officer is challenging. But Amruta is all geared to live up to the challenge with that extra stretch to ensure their daughter Divija is not affected by the celebrity status.. vinita.deshmukh@corporatecitizen.in January 1-15, 2015 / Corporate Citizen / 21

Cradle of Leadership–2

Anatomy of

Excellence

Dr. Devang Khakhar, Director, IIT Bombay, winner of several awards and achievements in the field of chemical engineering, is serving his second term as Director, IIT Bombay -- a recognition of his efficient administration and successful upgrading of the quality of education and infrastructural facilities at the campus. An alumnus of IIT Delhi and a PhD scholar from the University of Massachusetts Amherst, he joined IIT Powai as professor, Chemical Engineering department in 1987 and became the Director iwn 2009. He has a shy disposition, but is obviously a tenacious educationist with a holistic approach, going by the strides that IIT Bombay has made under his guidance. A tete-a-tete with him throws light on the various aspects of IIT education with particular reference to IIT Powai, one of the oldest of the 16 IITs and the most sought after, in India. Excerpts from the interview: By Vinita Deshmukh Corporate Citizen: You are now serving as Director for a second term of the most sought after and prestigious IIT institute in India. How does it feel, and what do you love about IIT Powai? Dr. Devang Khakhar: It is a great privilege to be part of this eminent institution. I’ve been here since January 1987 when I joined as a professor and it’s been a great environment to be in. The campus, which is nestled amongst the hills and flanked by the Powai and Virar lakes, has seen a continuous change for the better. A consistent effort along the years towards tree plantation has enriched the campus with a variety of flora and fauna. The institution by itself has expanded in terms of infrastructure and student strength. Our student strength is 9,600 at present. With nearly half of them pursuing PhD and involved in research in various subjects, the intellectual environment is more matured and focused. IIT Powai is no more an institute of undergraduates who are merely pursuing engineering and technology but we have a sizeable number of scholars. You have upgraded IIT Bombay from a mere engineering technology course to a research and development oriented one. Could you tell us how you achieved this and what has been the role of IIT in shaping students’ futures? I would say the process started more than 20 years back. The push towards research is not a

story of a year or two or of any single individual. The most important step taken was to recruit research oriented faculty and build research oriented infrastructural facilities. Most of the facilities have been built up by our own faculty over the years. This has been achieved through research projects which have been funded and continue to be funded by several government institutions like the Department of Biotechnology and Department of Science & Technology to name just a couple of them. Several industries too sponsor research projects. They also pay for the research staff and that helps in augmenting our facilities. Earlier, the funding used to be a meager Rs. 20 to 30 crore per annum; now it is Rs.200 crore per annum. This has helped us in hugely increasing research activity. This funding has augmented the number of students pursuing PhD. Presently, we have 2,600 PhD students and 700 research staff recruited for various kinds of projects. Research in IIT Powai is being carried out in science and engineering, management, design, humanities and social sciences, economics and psychology. In fact, a large number of those employed in the Reserve Bank of India have done their PhDs from IIT institutes, particularly from Powai. Undoubtedly the institute has played a prominent role in shaping students’ futures. Your contribution to environment through various energy saving measures are highly

22 / Corporate Citizen / January 1-15, 2015

appreciated. Could you tell us about your efforts? We want IIT Powai to be a model campus as far as energy conservation is concerned in terms of use of solar energy, waste disposal and greenery. We are making immense efforts towards this cause. For this, we conduct audits regularly to understand where energy is consumed and develop methods to save it. An audit conducted by M.Tech students from the Energy Science and Engineering department in 2008 revealed that the consumption of electricity and LPG gas topped the list and that Rs. 1.75 crore could be saved through appropriate measures. Subsequently, we installed a solar power plant at the rooftop of every building. Together, they produce 700 KW of energy. We aim to enhance it to 1 MW. We have installed solar heaters for hot water in all the 16 hostel buildings. The audit showed that 450 kgs of food was being wasted daily. We turned this waste into biogas and now each of the 16 hostels use cooking fuel that comes through biogas plants.We are constantly greening the campus and you will see greenery and thickly wooded areas in all parts of the sprawling 559 acres of land. The student strength has grown to nearly 10,000. Firstly, how did you go about increasing the strength, and secondly, do you think it can affect the quality of learning?

Pics: Ahmed Shaikh

January 1-15, 2015 / Corporate Citizen / 23

Cradle of Leadership–2 I don’t think the quality of learning has been affected because of increase in student strength. We have continuously augmented facilities to meet up with the increasing strength of students. We have increased the number of hostels and there are 16 in all now. The new ones have a capacity of 1,000 rooms each. Similarly, we keep hiring good faculty. You are on several advisory panels. What was your role as advisor in the Scientific Advisory Council to the Prime Minister of the UPA government? That task was to basically advise the government on various issues pertaining to science and technology. After several rounds of deliberations, we made recommendations to then Prime Minister Manmohan Singh on the need for implementing various programmes, one of them being how to make the environment favourable for pursuing Pure Sciences in India. Since we were on the advisory role, we only made recommendations and thereafter the government made efforts to implement some of them. What is the status of the Kakodkar report of 2011 to make IITs autonomous bodies to enhance the quality of education? What were the recommendations and what is your view on autonomy to IITs? Some of the recommendations were to increase the strength of PhDs, interacting with NIITs, and introducing Master’s programmes for industries – most of these have been implemented by various IITs. However, I’m not in support of making IITs autonomous as the financial model is not feasible. We have sufficient support of the government through funding so at this stage, most directors felt it was not necessary to explore the option of autonomy. This would lead to jacking up the fees which would be a burden on the students. For most of such universities worldwide, the respective governments provide a lot of support. The reason why autonomy for IITs is not financially feasible is because management schools have to cater only to classrooms and teachers whereas we, in addition, have to spend an enormous amount on laboratories which require large infrastructure too. As per the HRD Ministry’s report to Parliament in February, only 4079 faculty positions were filled against a requirement of 6,591across the 16 IITs. So, will there be quality faculty available for all the upcoming IITs when the present ones are facing challenges? Will this not dilute the quality of education? We are recruiting the right kind of faculty, continuously. Since student strength is growing, we are recruiting those who pass out from IIT and are keen on a teaching career. This has 24 / Corporate Citizen / January 1-15, 2015

Kakodkar Committee Report: Observations & Recommendations  A committee was constituted by the Ministry of Human Resource Development (MHRD) on 3 February 2010 to suggest a roadmap for the autonomy and future of the Indian Institutes of Technology (IITs) as worldclass institutions for research and higher learning.  The IITs are known to be among the best teaching institutions in the field of engineering, which have made a global mark with their high quality undergraduate (UG) education. B. Tech graduates from the IITs have made a very significant impact in various domains. M.Tech degree holders from IITs play a leadership role in Indian industry and R&D organizations. They have also provided many PhDs to educational Institutions (in addition to industry). IITs have created all the relevant ingredients and the best platforms to lead the Innovation and Technology Development movement in the nation.  Currently, around 500,000 engineering graduates come out of our engineering colleges. This number would cross one million in three to four years from now. There is however a serious question about their quality. Industry finds a large number of these graduates unemployable needing further training. In the 1970s and early 1980s, close to 10% of engineering graduates came from the IITs; this has dropped to below 0.5% today  Considering the large gap that we have

to bridge in realizing our development aspirations, we need a large-scale increase in the number of PhDs coming out from the IITs. The Committee has therefore suggested that each IIT should progressively grow to have around 1200 faculty (from around 500 today) and closer to 12,000 students with maximum growth coming from an enhanced number of PhD students. The Committee has recommended the number of IIT PhD graduates per year to be scaled up to 10,000, while continuously enhancing quality.  The Committee has suggested that we should aim at scaling the IIT system to 16,000 faculty and 160,000 total student strength (with 40,000 at the PhD level, 40,000 at the Masters level and 80,000 at undergraduate level) by around 2020. Each year, by then, the IIT system would admit 10,000 PhDs  Towards enhancing autonomy that would provide the IITs the necessary flexibility to support and deal with a new idea or take a new initiative and lead them towards world-class excellence, it is proposed that each Institute be fully governed by its Board of Governors (BoG), including aspects like financial planning and expenditure rules, faculty remuneration, fees and number of faculty and staff, within the overall policy guidelines of the IIT Council in terms of expectations from IITs as world-class institutions, affirmative actions, technology directions and human resource development.

Facts about IIT Powai  IIT Bombay is the second IIT which was set up in 1958 and the first one to be set up with foreign assistance from UNESCO  It is spread over 550 acres of land in Powai and is flanked by the Powai and Virar lakes  IT has 14 academic departments and is recognized worldwide as a leader in the field of engineering education and research  Over 40,000 engineers have graduated from this institute since the last five decades  Besides engineering and technology, it has programmes for social sciences like English, Philosophy, Sociology, Economics, Psychology and Management helped us in making the ratio quite reasonable but for the gap to be reduced, it is going to take several years. We have to be careful about the quality of faculty and I must admit that there is a short supply of quality teaching staff. Also, it does not end with just recruiting the staff. We need to give them space for laboratories and other facilities. Almost 100% of our staff at IIT are largely from abroad who have been alumni of IIT and returned to take up teaching jobs. Although most of our faculty is from various IITs, a large chunk of them are former students of IIT Powai itself, as they feel comfortable to come back to their alma mater. How do you view the crass commercialization of IIT JEE coaching classes that have sprouted like mushroom and allegedly indulge in buying off promising candidates? How do you see their role in training? Would you rather that students studied on their own? There are a few bad apples but there are some good coaching classes too which give solid training to the students. Very often, in schools, the teachers are not able to provide advanced learning where only the basics are taught, especially in subjects like Physics, Chemistry and Mathematics. The main focus of coaching classes is to teach students how to solve problems quickly, which come through regular practice. According to my colleagues, it is not essential to go to a coaching class. The curriculum is basically that of CBSE, and if you study from those books, it is sufficient. Only, you have to learn how to be quick in solving problems. Hence, practice is the key. About 50% of students who get admission in IIT Powai do not go to any coaching class. In the last decade or so, do you see more students from small towns and villages vying for IIT admissions?

It is true that a large number of students come from smaller towns and less privileged backgrounds. I attribute this to our entrance test which is open to everyone, beyond any caste, creed or social status. Anybody who fares well gets admission, regardless of where he or she is from. The admission process is straightforward and transparent. Tell us about your childhood. Where did you school, and how did you aspire to become an IIT engineer? My father was an officer in Caltex which is now Hindustan Petroleum. I lived in Delhi and Kolkata but my final four years of schooling were at St. Mary’s School, ISC, in Byculla, Mumbai. When I finished my graduation, some of my classmates were buying sample question papers of the Joint Entrance Examination. It was only when I saw these copies that I came to know that an institute like IIT existed. I too began to practice solving math problems from these question papers. I also joined the only coaching class which existed then – Agarwal classes, during summer. I realized I enjoyed solving these problems. I was happy when I got admission into IIT Delhi. What was IIT like when you were a student? How has it changed now? My hostel life was just fantastic. At that time, it was even more exclusive to be an IIT student. Whenever I mentioned that I study in IIT, people would say, “Oh, you must be so brilliant.” Everyone assumed that you were exceptionally good in studies. Apart from academics, I thoroughly enjoyed all extracurricular activities like sports, cultural and creative events and of course I made lots of good friends. Tell us about your family and what your children are doing. How much time do you spend

time with them? My wife is a senior bank officer in HSBC and is based in Dubai since the last three years. We have two children – a girl and a boy. My son is pursuing bio-engineering in the USA in the University of Washington. My daughter is in a boarding school at Lonavala. Distance is not a problem as we frequently travel to meet each other. You pursued your Phd from Massachusetts in the USA. Why did you feel like coming back to India instead of pursuing an enriching career there? When I went to pursue higher studies in the USA, I had decided that I want to come back. At that time India had made good progress under Rajiv Gandhi’s government. I was there for four and a half years until I completed my PhD. When I sent word around that I wanted to return, some of the professors of IIT Kanpur asked me to join them as faculty. I agreed and returned to India. However, I was in IIT Kharagpur for only one semester as I went back to Mumbai where my family was located. I got a professor’s job in IIT Powai in January 1987 and I am here since then. What is your philosophy of life? My philosophy is that everyone must pursue what they enjoy doing. That is the only way to really be able to achieve your goal. For me, it is the enjoyment of what I am doing that makes me so passionate to wake up every single morning and boil my energy, day after day. What is your opinion of the young generation of today? I think they are very well informed thanks to the Internet and that is a great asset for any youngster. vinita.deshmukh@corporatecitizen.in

January 1-15, 2015 / Corporate Citizen / 25

Investigation

Commodity markets tumble Volumes at commodity exchanges have tumbled after the NSEL, the countryâ&#x20AC;&#x2122;s biggest spot exchange for commodities in terms of turnover, defaulted on payments, thereby shaking investorsâ&#x20AC;&#x2122; confidence. Corporate Citizen gives you an overview of the crisis, the sequence of events that followed and their implications. By Mahalakshmi Hariharan

26 / Corporate Citizen / January 1-15, 2015

Pic Credit: The Indian Express

he National Spot Exchange or NSEL, run by the promoters of the Multi Commodity Exchange (MCX), was set up as a spot commodity exchange to create a delivery-based, pan-India spot market for commodities. It was promoted by the Financial Technologies India Ltd (FTIL) and the National Agricultural Co-operative Marketing Federation of India Ltd (NAFED) so that it would have the NAFED brand to present the exchange as a ‘farmers’ market’. NSEL offered a pair of contracts where one settlement was due in two days and the second in 25-50 days. This allowed speculators to make financial returns without actually taking physical possession of commodities. Ideally, the commodity is required to be delivered physically, but the exchange facilitated the use of electronic warehouse receipts, enabling investors to avail of the arbitrage without taking physical possession of the goods. Interestingly, NSEL did not try to stop this round tripping. In fact, it made it easier in some contracts. For example, the contract specifications said, “Storage charges are waived off for those members and their constituents who sell jeera on JEERUNJH25 out of the delivery receivable against the purchase position of JEERAUNJH2 contracts”. The NSEL scam is estimated to be to the tune of Rs 5,600 crore, which came to light when the Exchange failed to pay its investors in commodity pair contracts after 31 July 2013. A commodity exchange is an association or a company or any other body corporate organising futures trading in commodities. Individuals can trade on the spot exchange platform by buying/selling commodities at the current market price.

Jignesh Shah-The mastermind

modity deposited by those borrowers. An estimated number of 15,000 investors, along with public sector units like MMTC and PEC, were victims of this scam. The Registrar of Companies (ROC) report on the fraud came down heavily on the promoters and FTIL as it was found that the majority of the minutes of meetings of the NSEL board were fabricated as cell phone location data of the said board members did not match with the meeting locations. Some of the warehouses mentioned on the NSEL website were found to be physically non-existent and the SGF (Settlement Guarantee Fund) – of around Rs 839 crore, as on 29 July 2013, vanished into thin air. Anjani Sinha, the sacked CEO and MD of the company initially attempted to take the blame for the fraud in order to absolve other promoters and filed an affidavit. Anjani Sinha’s wife, Shalini Sinha, though being a related party, traded on the MCX for about Rs 40,000 crore in one year through her company SNP Designs P. Ltd. However, after arrest, Anjani Sinha retracted his earlier affidavit and filed a fresh affidavit

pinning the blame on the board of NSEL stating that they fully knew what was going on at NSEL.

Masterminds of the scam

The Economic Offences Wing of the Mumbai police finally arrested Jignesh Shah and his trusted lieutenant Shreekant Javalgekar who were believed to be the masterminds of the scam on 7 May 2014. Shah, 47, set up FTIL in 1988, launched a series of stock exchanges under its aegis in the previous decade, including the MCX, a multi-commodity bourse. MCX was listed on the Bombay Stock Exchange in 2012. As per the Mumbai police, the arrests were required as Shah and Javalgekar did not cooperate in the interrogations. They diverted questions and always laid the responsibility on the former CEO of NSEL (Anjani Sinha), while it was Jignesh Shah who approved all fraudulent contracts. The immediate cause of arrest of Shah was his knowledge of various dealings of the Indian Bullion Markets Association (IBMA), a subsidiary of NSEL, which was predominantly used in money laundering and bogus trades. The investors’ counsel produced hard evidence of the involvement of Shah in the scam before the Maharashtra Protection of Interest of Depositors (MPID) court on 16 June 2014. Various emails sent among Anjani Sinha, Shreekant Javalgekar and Jignesh Shah were produced in the court where there was a talk on profit adjustments and bogus profits received from NK Protein-- one of the key borrowers at NSEL.

CBI action

The Central Bureau of Investigation then raided various NSEL and borrowers’ offices as well as the residence of Jignesh Shah and booked an FIR under the Prevention

It was discovered after the Exchange defaulted that most of the underlying commodities did not exist and the buying and the selling of commodities like steel, paddy, sugar, ferrochrome was being conducted only on paper. The pair trades in various commodities were offered in one-day forward contracts of T+2 and T+25 (sometimes even T+ 35) payment terms (bought and sold at the same time). Such pair trades offered an arbitrage opportunity of about 12%-15% return per annum. Investors who honoured the T+2 payment obligation found that the National Spot Exchange neither had the money, nor the commodities to honour their T+25 dues. Around 24 borrowers were given the funds by the NSEL without any underlying com-

Pic Credit: The Indian Express

How did the operations work?

NSEL Victims

January 1-15, 2015 / Corporate Citizen / 27

be complicit in the NSEL fraud and not ‘fit and proper’ to run any exchange in India. There were also revelations from the EOW investigation and the police chargesheet on Shah confirming that a company associated with him pulled out his money just before the exchange went bust. Jignesh has been charged with insider trading on both the NSEL and MCX exchanges.

NSEL Investors’ Action Group

Pic Credit: The Indian Express

of Corruption Act for the funds that the two public sector units, MMTC and PEC, were made to invest in NSEL. Jignesh Shah and MCX’s CEO, Joseph Massey were also booked. The Forward Markets Commission (FMC) also played a dubious role in the scam as its ex-chairman, B.C. Khatua was aware of NSEL’s application for registration of non-transferable specific delivery contracts (NTSD) (paired) but neither accepted nor rejected them. A committee headed by Arvind Mayaram suggested that the entire system was an ‘unregulated exchange’.

In order to speed up repayment to investors on defaulted payments, the Ministry of Corporate Affairs has announced the merger of NSEL with Financial Technologies

Audit findings

As instructed by the FMC, NSEL asked the Grant Thornton to conduct a forensic audit of their books. The report, though not complete and with insufficient cooperation from NSEL, brought out various glaring irregularities. On the basis of the Grant Thornton report, the FMC served a show cause notice to the promoters of NSEL about their ‘fit and proper’ status to run exchanges. There are still large discrepancies between the books of the NSEL and those of most borrowers. The Grant Thornton report also pointed out how Anjani Sinha wrote an internal email to stop using Indian Bullion Markets Association (IBMA) for rigging MCX prices and to use SNP Designs P. Ltd, his wife Shalini Sinha’s company, to conduct proprietary speculative trades on the exchange. It was clear that the whole group, NSEL/ IBMA/MCX and FTIL, worked in tandem. The FMC also asked PriceWaterhouse Coopers (PwC) to conduct an audit on MCX. It was learnt that MCX paid Rs 2.25 crore as dubious donation to Mukesh P Shah (Jignesh Shah’s uncle and NSEL auditor) and Rs 17.76 crore as donation.

Role of promoters

The FMC, in their show cause notice and

Recently, the NSEL Investors’ Action Group – a forum of aggrieved investors – alleged that high-profile brokers involved in NSEL were privy to the scam. The association, in a letter to the police, has urged them to take stringent action against the brokers. Most brokers, including Motilal Oswal took Power of Attorney to sell/purchase/receive/ deliver/pledge commodities on behalf of the investors, opened DMAT accounts to handle commodities in electronic form and also got signed agreements to ‘hold and transact in warehouse receipts’. They also allege that the brokers charged warehouse receipt transfer and delivery charges when actually there was no delivery of goods or warehouse receipts. They also charged the brokers of falsely assuring them that NSEL was a regulated exchange and their investment was secure.

NSEL-FTIL merger the ROC in their interim report, have held the promoters including Shah as responsible for the fraud. Shah also promised a financial settlement on 5 August 2013. Interestingly, he then said, “What will investors do with commodities that’s why we have decided to go for financial settlement” – which made people believe that he knew there were no underlying commodities in the NSEL warehouses, contrary to what was shown on the NSEL website. Shah also promised a committee of three to look into the scam. The committee was to include retired Police Commissioner Sivanandan, but it was merely an eyewash and was never formed. Various forensic audits by Grant Thornton, PwC, Chokshi & Chokshi confirmed the involvement of the board of NSEL in the scam and the dubious role of the Financial Technologies group. Anjani Sinha’s custodial statement squarely puts the blame on Jignesh Shah who he claimed was the mastermind of this whole NSEL fraud. The motive was to sustain the profitability and market cap of FTIL, which was dwindling as a result of loss making foreign exchange that it floated. The FMC also held FTIL, Jignesh Shah, Shreekant Javalgekar and Joseph Massey to

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In order to speed up repayment to investors on the defaulted payments estimated at Rs 5,600 crore, the Ministry of Corporate Affairs announced a draft order for the merger of NSEL with its holding company, Financial Technologies. The Bombay High Court ordered a status quo on the draft order and asked the ministry to file its reply to the petition before the next hearing on December 22. NSEL investors who want the merger have sought the Court’s permission to intervene in the case. Media reports suggest that FTIL counsel Abhishek Manu Singhvi has argued that the government issued the draft order under Section 396 of the Companies Act. This has been used only on four occasions in the past to merge government companies. It has never been used for the forcible merger of any private company. Singhvi further argued that the boards of directors of both the companies have to accept the merger and it needs to be approved by the Central government. FTIL says it fears the default of its subsidiary will be transferred on to its books, resulting in negative implication for its shareholders. Let’s wait and watch what happens next. Mahalakshmi.H@corporatecitizen.in

corporate history

Mercedes was Hitler’s idea

Mercedes Benz is the ultimate symbol of prosperity and status, the world over. And Nazi Germany thought no differently. A look at Mercedes Benz and the Hitler connection, an indelible part of corporate history By Kalyani Sardesai

famous photo of Adolf Hitler taken in 1934 shows him standing up in a 7.6 liter inline-eight Großer Mercedes — leading a parade of Nazis down the first completed stretch of road between Frankfurt and Darmstadt. As someone said, the most beautiful and sophisticated technology in the world is as good — or as bad — as the men using it. What could illustrate it better than the connection between Mercedes Benz and Nazi Germany? Even though the Mercedes Benz trademark — the three pointed star in the laurel wreath was born in 1925 — signaling the merger between Daimler-Motoren-Gesellschaft (DMG) and Benz & Cie — came much before the advent of Hitler, it was a car much-loved by the Nazi top brass. The reasons were simple enough: the Mercedes Benz cars were German in origin and served as fabulous symbols of prosperity as promised by the Third Reich. They were also speedy and sturdy, allowing Hitler and his henchmen to campaign across Germany at a speed that left political opponents breathless. Once they seized state power, the Nazis had almost unlimited resources at their disposal, and preferred to use the Mercs to make a statement about luxury and invincibility. Several cars were custom-made for the top brass. For instance, the Mercedes Benz-770, also known as the Großer Mercedes (large Mercedes), a luxury car built by the company from 1930 to 1943 was the preferred choice of ride for Hitler. Another massive Großer Mercedes — a six seater touring car — that belonged to Hermann Goring — has grabbed much attention. Himmler, number two in the Nazi echelon, head of the SS and the Gestapo, was also a car lover and owned a green bulletproof

Adolf Hitler in his own Mercedes 770

Mercedes Benz as well. After the end of World War II, these two cars were put on sale by the United Nations’ International Refugee Organisation. The proceeds went to the survivors of Nazi atrocities. The Secret Service and Gestapo — the two evil arms of Nazi Germany — especially made use of the Mercedes 260D for the hunting of the Jews. The 260 D was named in reference to its engine’s cubic capacity. Nearly 2,000 vehicles were assembled until 1940 after which, the Daimler-Benz group had to devote itself almost entirely to military manufacture. If ever it was seen approaching, one knew that the greatest trouble was afoot. Sadly, this wonderful car ultimately came to be known as a “Death mobile” instead of being lauded for its true identity — that of

The Mercedes Benz-770, also known as the Großer Mercedes (large Mercedes), a luxury car built by the company from 1930 to 1943, was the preferred choice of ride for Hitler

being the first diesel passenger car. After the war, several collectors have managed to buy Mercs belonging to the Nazis — both for the history they bear and the awestruck cries that usually follow. Several wealthy Russians don’t mind forking out big bucks for these vintage automobiles as these cars represent Russia’s triumph in the second World War. A case in point being Dmitri Lomakov, the director of Moscow’s museum of retro automobiles, whose collection includes Reich Minister for Propaganda Joseph Goebbels’ Mercedes Benz 540K and Hitler’s private secretary Martin Bormann’s Mercedes-Benz 320. Even though the allied powers gained the upper hand in the later years of the war making unexpected air strikes every now then, the Mercedes cars continued to be entrusted with state duties, usually with low-visibility headlights, bulletproof windows and occasionally mounted with anti-aircraft machine guns. The Nazi regime was eventually defeated but of course, the Merc — one of the world’s most famous cars — continues to go from strength to strength. After all, technology is not bad. It’s the users that are evil. kalyanisardesai@gmail.com

January 1-15, 2015 / Corporate Citizen / 29

CSR Initiative

HDFC Bank sets World Record

The largest blood donation (multiple venues) involved 61,902 participants and was achieved by HDFC Bank Ltd (India), with 1,115 blood donation camps held across 709 locations in India on December 6, 2013 that set a WORLD RECORD. A peek into this noble CSR initiative which is still going strong... BY Mahalakshmi Hariharan

here is a great need for blood in India today. According to a 2012 World Health Organisation (WHO) report, only nine million units are collected annually, while the need is for 12 million units. The shelf-life of donated blood is just 35 to 42 days and there is a constant need to replenish stocks in our blood banks. Keeping this in mind, leading private sector bank, HDFC Bank is undertaking this initiative of carrying out the All India Blood Donation Campaign at various colleges, universities, HDFC bank premises and corporate premises, across the country, to involve the young generation in this noble cause. The blood donation campaign is conducted on a single day, across India, every year, during the month of December, since 2007. This year the campaign took place on December 5, 2014. The idea behind this partnership is to create awareness among students and the youth about blood donation that will spread far ahead into the coming years. Bhavesh Zaveri, Group Head - Operations and Cash Management Product & Sales, HDFC Bank, who was instrumental in starting this activity in 2007 said, “Over the last few years, we have witnessed tremendous encouragement and increased involvement from colleges and their students.” There is a dedicated team that looks after promotion, assisting

Bhavesh Zaveri with Aditya Puri, Managing Director, HDFC Bank

30 / Corporate Citizen / January 1-15, 2015

donors and other related activities. The bank engages an average of two employees per camp, who actively participate in the entire activity right from planning, coordinating to successfully conducting the camp at various locations. Along with the volunteers (bank employees) at every location, renowned hospitals, blood banks and student groups come forward to be a part of this noble cause. Mr Zaveri noted that the bank starts the activity by identifying blood banks of good repute, who undertake this activity in a very efficient, scientific and precise manner with no inconvenience being caused to the donor at any stage. “Prior to the actual date of the camps, an awareness drive is conducted by meeting various corporates, housing societies, college campuses along with placing of posters and banners in various locations, making announcements on radio channels, conducting street plays and spreading awareness by word of mouth. We maintain a proper record of all the donors – successful

HDFC Bank organised a blood donation camp at Sri Balaji Society which saw large scale participation of student

nts

Over the last few years, we have witnessed tremendous encouragement and increased involvement from colleges and their students for our blood donation camps —Bhavesh Zaveri,

Group Head - Operations and Cash Management Product & Sales, HDFC Bank

and unsuccessful,” he added. Last year, the blood donation camp was organised by the bank on December 6, 2013, which involved 61,902 participants in 1,115 blood donation camps across 709 locations in India on a single day, thereby setting a World Record. Journey so far Since 2007, HDFC Bank is witnessing tremendous growth in the number of locations and collection centres, in this initiative, across India. The bank started the initiative in December 2007 in 87 locations across various regions in India. Today, in its 8th year, the bank is carrying out this initiative in over 1,000 locations, with over 100,000 participants. Blood storage units The bank truly believes that the collection of blood will not

suffice until it is being preserved properly. There is a tremendous requirement to have blood banks today, especially in the interior parts of India where very few hospitals have such facilities. In cities too, there are a large number of donors but there is limited capacity to receive blood from all potential donors. Hence the bank has started the initiative to set up blood banks in interior areas of the country in collaboration with global hospitals. “The initiative is in nascent stage and is expected to gain momentum in the coming years to spread across many locations across the country, Currently, we have set up blood storage units at Government Anumandaliye Hospital, Naugachia, Bihar, District Government Hospital, Harda, Madhya Pradesh, Community Health Centre, Tarapur, Gujarat, Arignar Anna Government Hospital, Sriperumbudur, Tamil Nadu and Sub-District Hospital (CHC) Akhnoor, Jammu & Kashmir,” noted Mr Zaveri. The bank bears the cost related to arrangements of the camp like posters, banners and pamphlets. Snacks and juices are also provided on the day of the camp to all the donors. Certification of participation is also given to them. Mahalakshmi.H@corporatecitizen.in

PIC CREDIT: AHMED SHEIKH

Philip Mathew, Chief People Officer, HDFC Bank inaugrating the blood donation campaign

January 1-15, 2015 / Corporate Citizen / 31

Education pioneers

Maharashtra’s Management Guru At a time when management education was unheard of in Maharashtra in the 1970s, Dr. P C Shejwalkar persuaded the University of Pune to launch a full time, post-graduate management education course and thereafter, founded the prestigious Institute of Management Development and Research and made it an autonomous institute, inspiring many others to follow suit. By Vinita Deshmukh Age is opportunity no less than youth itself, though in another dress, and as the evening twilight fades away The sky is filled with stars, invisible by day. – Henry Wadsworth Longfellow

hese words of Longfellow are indeed apt for Dr. P C Shejwalkar, the undisputed pioneer of management education in Maharashtra, and presently the director of the Institute of Management Education (IME). With over 55 years of experience as an educationist and having founded the first ever full time management course in Pune followed by opening of the prestigious Institute of Management Development and Research (IMDR), Shejwalkar stands tall in the educational field for his innovation, enterprise and relentless pursuit of excellence. After his long stint at IMDR--which is synonymous with his name--he now serves as the Director of IME which he established after his retirement in 1989. To him goes the credit of making the IMDR, of which he was Director from 1974 to 1989, the first ever

autonomous management institute in 1977. Now in his eighties, Shejwalkar continues with his sharp intellect and zest to provide the best management education at a nominal cost. Dr Shejwalkar was the Dean of the Commerce faculty of the University of Pune, when he was selected to pursue an MBA crash course at IIM, Kolkata in 1966. With a twinkle in his eyes, he says, “Two professors were to be selected by the University of Pune for the IIM Kolkata’s MBA crash course. I was the Vice Principal of BMCC at that time as well as the Dean of the Commerce faculty of the University of Pune. The mandatory requirement for the selection was that you must possess a doctoral degree; posess at least 10 years experience as professor and; have the designation of a full time professor. Fortunately for me, I could meet all the three criteria. The university selected me and that’s how I went to IIM Kolkata. It was the first batch of this IIM and classes were held at the India International Centre in New Delhi.” Recounting his IIM experience that laid the foundation for his management education dream, Shejwalkar states, “We had an American professor, Douglas McGregor who was the director and was a very kind hearted man. My room was next to his in the hostel block that I stayed in. We used to have

32 / Corporate Citizen / January 1-15, 2015

Pic: Yusuf Khan

our lectures from 9 am to 5.30 pm. At around 7.30 pm, he would discuss case studies with us over drinks. I learnt a lot during those informal sessions. They gave me an insight and vision into the need for management education of international standard, in Pune.” After finishing the course and returning to Pune, he approached Dr. B P Apte, the then Vice Chancellor and persuaded him to start a similar course in the university. After many deliberations, his dream was realised. This was the first time that a full time, post-graduate management course was introduced. There was no building or funds to start with, says Shejwalkar, so the course began in the Arts College in the premises of Pune University in August, 1971. Recalls Shejwalkar, “Leading managers and executives of industries readily agreed to give

lectures on token charges; some did not even accept the honorarium.” Shejwalkar had a dual role to play--manage the BMCC College as Vice Principal in the morning and go to the university as Head of the Department of the Management Course in the afternoon. There were 30 to 40 students until 1974 and the fees were Rs 500 per year. Shejwalkar found that many executives already pursuing a career were also keen on management education. Hence, he started the evening diploma course which was called Diploma in Business Management (DBM) and was conducted at the BMCC College. The year 1974 was the turning point in the history of management education in India, as Shejwalkar was all set to pioneer the birth of an autonomous institute. This opportunity triggered off most unexpectedly. Recalls

Shejwalkar is now legendary as a visionary Management Educator and is held in high esteem by hundreds of his students, many of who are in top corporate and government positions. Many have also turned into successful entrepreneurs

Shejwalkar, “One of my BMCC students, Arun Doshi invited me as the chief guest for his father’s 60th birthday. His father’s elder brother, R T Joshi was present on the occasion. He was a successful entrepreneur in Mumbai and was also awarded the Padmashree. Since management education was my magnificent obsession, I spoke about it in my speech and rued about the lack of funds. To my surprise, the next day, R T Joshi approached me and said he would give me funds without putting conditions. He did not even want his name to be mentioned as a donor. There was ample land with the Deccan Education Society where the building could come up. Joshi donated seven lakh rupees and the construction of IMDR began in right earnest. We built a two storeyed building with 12 lecture halls, an auditorium

January 1-15, 2015 / Corporate Citizen / 33

Education pioneers can imbibe ethics on the basis of actual practices and on the basis of their perception about what kind of a person their director is in the educational environment and parents in the home environment. As a director, I have to lead by example. They will learn from me what they see of me.

and library, besides my offices.” The new IMDR building was inaugurated on 6 November1976. Now, came the vision to make it an autonomous institute. Recalls Shejwalkar, “My mentors, S L Kirloskar and Rahul Bajaj felt that making the institute autonomous would enhance its chances of getting more students, as the syllabus could be made more relevant, without any restriction from the Pune university.” Shejwalkar decided to enter this unknown territory and made it autonomous in 1977. IMDR spun a dream for other education entrepreneurs. Elaborates Shejwalkar, “My friend Dr S B Mujumdar decided to start the autonomous and famous Symbiosis Institute of Management Education (SIBM). Thereafter, many such institutes started, but sadly several of them saw in them the potential of making money rather than providing good management education.’’ Following are some of his views on different facets of management education then and now: You have created hundreds of corporate leaders in the country and abroad who are well placed in different positions and companies. Could you tell us whether you saw their potential while they were doing the course? What impressed me most was the full commitment and full confidence that they had in them. They possessed a strong will power. What was also remarkable was their involvement in their mission to pursue their goal. Nobility was their strength, yet, humility and modesty ran in their blood.

The director should spend at least five hours in the institute but more than that, he should act as rector of the hostel and intereact with students informally after classroom hours

What do you think are the qualities that a management student should possess? Do you think students of two decades ago had a different attitude, approach and expectations as compared to present-day students? Today students are more intelligent and more focused in their aims and objectives. They are techno savvy and make the best use of information technology, e-commerce and other methods of developing global relationships. Their thinking is international and not confined to their local or national areas. The earlier batches – I am talking about students about 30 years back – had no access to IT such as mobiles and Internet. They were also not acquainted with globalisation, privatisation and liberalisation. The scope of their career development was relatively limited. At that time, India was still regarded as a developing country whereas today India is considered as super power along with USA and China. Today’s young MBA students have a willpower to meet

unknown challenges as they have a world of opportunities to explore. These days, students are conversant with the outside world and learn and gather knowledge and information more from outside their colleges. They are not bookish and depend a lot on the Google Guru! The qualities required for students to pursue MBA are: conviction about their ideology, commitment, their culture and confidence, their creed. They should be gogetters and fiercely ambitious. What is your approach to ethical leadership? How do you teach ethics to your students and what are the values that they gain by this approach? I never taught ethics in the classroom and I don’t think it is possible to teach them in a formal manner. I believe that students learn ethics from how I, as the head of a management institute, behave as a teacher, as a citizen, and as a common man. Students

34 / Corporate Citizen / January 1-15, 2015

What is your opinion about the mushrooming of MBA institutes and whether such increase in quantity has diluted the quality of MBA education? Yes, it is very obvious that the mushrooming of MBA institutes since the last one-anda-half decades has diluted and sometimes made mockery of this educational course. I am sad that those who felt they would be able to make money by starting management institutes have created a mess. The quality of MBA education is suffering at the cost of quantity. The quality of students and also the teachers in management institutes has started deteriorating though I must say there are some shining examples: IIM, Ahmedabad; IIM Kolkata, Narsee Monji Institute of Management, Mumbai, S P Jain Institute of Management & Research, Mumbai;, L N Welingkar Institute of Management Development, Mumbai, and Pune’s Symbiosis Institute of Business Management, Sri Balaji Society, Bharati Vidyapeeth and D Y Patil Institute, to name a few. The deterioration began 2000 onwards, particularly in Maharashtra. The AICTE started issuing licenses to every institution applying for MBA programmes. It may be worthwhile to note that sometime back, Rahul Bajaj wrote an article in the Times of India stating that the License Raj in management education must be condemned. After the year 2000, in Pune city itself, 150 management institutes sprouted, out of which more than 65 institutes have closed down in the last few years. The way forward, I feel, is that the corporate world, particularly, established companies, should themselves start management institutes with the help of chambers like the MCCIA, Indian Merchants Association, etc., so that students will not be inclined to go to institutions of poor standards. I am told that Bharat Forge is thinking of starting a private university. I don’t mind if well known international institutions such as Harvard and Cambridge from western countries are allowed to establish their branches in India so that they become benchmarks for others in India. Do you think MBA syllabuses are comprehensive or do they need overhauling? In this fast changing world, the MBA syllabus

JP Dange

and practices.

Former Chief Secretary of Maharashtra and President, Maharashtra State Finance Commission Batch: 1971 Dr. Shejwalkar is an excellent teacher and taught us practical lessons in management and administration. This helped me immensely in my public administration examination and career. Dr. Shejwalkar is very thorough in his theoretical knowledge as much as he is a visionary in teaching his students how to put it to practical experience. Working in any department of the government is like working in any outfit of the corporate world. Hence, the same principles of management apply. What we call budgeting in government is the same as finance administration in a corporate office. Pursuing my MBA in IMDR helped me build a solid foundation to my career in the civil services. I profusely thank Dr. Shejwalkar for making me what I am today.

Many surveys say that in our country, only 5 per cent of MBA students passing out every year get good placements. If that is so are we not cheating the students, parents and public at large. What is the solution? The mushrooming of institutes that do not meet the required standards should be completely stopped, so that only good institutes are around for students’ to choose from. There should be better interaction between senior executives and managers of the corporate world and MBA students. It is not that B-schools are not striving to get the best faculty. They are not available in the market for the price the institutes can offer. Comment. It is necessary for a good management institute to provide the best emoluments for the best faculty. Stalwart faculty like C K Pralhad or Peter Drucker or Douglas McGregor were paid highly with all the other perks like house, vehicle allowance and unlimited use of funds for their libraries. If an institute cannot maintain the high standards of salaries for its faculty, it should close down.

Dr. Dinesh Kamath,

Entrepreneur Batch: 1977 I belonged to the first batch of the IMDR when it became autonomous. Dr. Shejwalkar is a boiling pot of inspiration. In fact, he is an inspiration to anyone who comes his way and I give full credit to him for making me what I am today. We all learnt how to be analytical through his teaching as it was a harmonious blend of the theory and the practical. For me this was particularly important because during your graduation you are not taught to go deep into any subject. Dr. Shejwalkar’s innovative technique helped me to look at life analytically, and with a deeper perspective. I thank him for giving me the confidence to become an entrepreneur.

George Varghese

How do you view the regulators of management education in the country? They are acting more as regulators than supporters. They should rather guide every institute as to what is expected of it. Punishments and fines by regulatory authorities do not serve the purpose as the managements of institutes try to hide certain bitter facts. They should be encouraged to be open and transparent.

Chief Executive Officer, The Indian Express group Batch: 1988 IMDR has played the most significant role in whatever I am today. I attribute two factors to it – I joined IMDR for the MBA course, not as a fresh graduate but after working for five years, so my ability to absorb was higher as I had some work experience already and I was fortunate to have a visionary like Dr. Shejwalkar to guide me. This has stood me in good stead even today. Dr. Shejwalkar is a man of guts who had the vision to create an autonomous MBA institute at a time when management education was in its infancy. He stands out because his mission was not to exploit it to make money, but to impart education on par with the standards of the western world. As a student, I have seen him very closely and he was very open and flexible to discussing case studies or industry interaction.

must undergo a change at the start of every academic year. Now you see E-Commerce has come in a big way through Flipkart, Amazon, Snapdeal, etc and this should be an integral part of management studies. Also, I think the MBA syllabus should not be confined to academics. There should be wholesome development through sports, physical education, personality development and meditation. I recommend two hours of yoga, pranayam and games. For developing team spirit, which is so essential in the corporate world, traditional sports like Langdi and Hu tu tu should be introduced. How much time should a director spend at

the institute? The director should spend at least five hours in the institute but more than that, he should act as rector of the hostel. Residential education should be made compulsory for the students so that the director can informally meet a few students. This will also help them to avoid late night parties and addictions associated with it. When I was studying at IIM, Kolkata, my director, Douglas McGregor used to reside in the same hostel. In fact, his room was next to mine in the same block. In the evenings, we used to meet over drinks or dinner and have focused discussions, which helped me get a better insight into management education

The HRD ministry keeps on announcing starting of new IIM’s and IIT’s with the tax payers’ money. Comment. The HRD ministry wants to create islands of excellence by starting IIMs and IITs, at least one in every state. The other pygmy type institutes will slowly vanish and that is most welcome. What is your opinion about the efficacy or competence of male versus female managers? Comment. Women managers are seen to be more dedicated, devoted, determined and more intelligent and hard working than their male counterparts. There will be exceptions also but so far, women were not allowed to enter this competition. Now that they are coming in large numbers, they are showing their efficiency. vinita.deshmukh@corporatecitizen.in

January 1-15, 2015 / Corporate Citizen / 35

corporate citizen survey

Young Professionals prefer good environment at workplace; peaceful family life

By Neeraj Varty

Current Location

he Master of Business Administration (MBA) degree is one of the most coveted post-graduation courses the world over and that includes India. LeadCap Ventures and Corporate Citizen surveyed a cross section of young professionals across the country to find out their satisfaction levels in their MBA course, workplace and family life.

Over 49% of the participants are employed in Pune and about 33% of them are based in Mumbai, which demonstrates that most students prefer not to relocate far from the city they completed their MBA in.

JOB THROUGH CAMPUS PLACEMENT 24%

76%

n Pune n Mumbai n NCR n Nagpur n Hyderbad n Indore n Ranchi

1% 2%

n Yes n No 36 / Corporate Citizen / January 1-15, 2015

49%

33%

Current Location

TAKEAWAYS FROM MBA COURSE It is interesting to note that MBA graduates feel that they have received a major boost in confidence by completing the course, as compared to regular graduates. Most of the candidates have acknowledged an improvement in their communication and inter-personal skills, while 32% of them feel that their employment skills have been polished by doing the course. Confidence Attitude Team Working Communication Leadership Skills Career Planning Specialised Subject knowledge Industry Insights Goal Setting Employability Skills Interview Skills Live Industry Interaction Through... Global Exposure

73% 70% 68% 62% 56% 37% 37% 36% 36% 32% 29% 28% 18%

STRESS LEVEL An astounding 76% of the alumni got placed through the campus itself. In fact, most of the alumni stated that one of the chief reasons for selecting an MBA institute is its campus placement record.

More than 2/3rd alumni live stress free lives, with over 69% of them not experiencing heavy work pressure. This can be attributed to healthy lifestyles and having a healthy work-personal life balance. n No n Yes, a little n Don’t know/ Can’t say n Yes, a lot

20%

69%

HOW THEY SPEND THEIR FREE TIME

CURRENT EMPLOYMENT

Spending time with family, entertainment and fitness are top 3 activities, which alumni engage in during their free time. According to them, having a hobby helps them to strike a healthy balance between work and recreation. Spend time with family Movies, Games, Entertainment Music, Theatre, Art etc. Fitness, Gym etc. Engage in outdoor sports and events Sports Extra sleep on weekend Camping and treks Volunteer with NGO / Social Cause Spend time with Friends on weekend Travel photography Painting

46% 42%

34% 29% 25% 25% 15% 12% 8% 2% 1% 1%

98%

SATISFACTION WITH CURRENT EMPLOYER Over 80% of the alumni were happy with their current employer. Recognition, job profile and work environment are top 3 factors that contribute to overall satisfaction whereas salary, growth and travel are top 3 reasons for dissatisfaction with current employer. n Highly Satisfied n Satisfied n Neutral n Highly dissatisfied

An overwhelming 98% of the alumni are currently employed as opposed to only 2% of them who are taking a sabbatical.

n Yes n No

16% 4%

30%

INDUSTRY OF EMPLOYMENT The preference of most of the alumni for employment is the IT sector, with over 25% of them working in technology companies. Interestingly, over 11% of the alumni are either self-employed, or work in start-ups, demonstrating young India’s preference to challenge the status quo.

50%

Key Observations n The average cost of pursuing an MBA from a reputable B-School is 7-10 lakh n The average compensation packages drawn by MBA graduates five years into their career is 12-13 lakh n Bangalore, Delhi – NCR, Mumbai and Chennai are cities where the best compensation packages have been offered to MBA graduates. n An increasing number of MBA graduates are opting for self-employment or looking to work with promising start-ups instead of working with established companies. Survey by: LeadCap Ventures

14%

2% 2%

25%

3% 5% 6%

16%

7% 8%

11%

n IT n BFSI n Start-up / self employed n Manufacturing n Retail n Media & Advertising n Telecom n Automobile n BPO/KPO n Healthcare n Others

neeraj.varty@corporatecitizen.com

January 1-15, 2015 / Corporate Citizen / 37

18th NHRDN Convention in Mumbai

Riding the VUCA tide! Corporate Citizen brings you the lowdown of one of the most riveting business conventions of the year â&#x20AC;&#x201C; the 18th NHRDN Convention, Mumbai

Ajay Srinivasan, CEO, Aditya Birla Finance, Vipin Sondhi, MD & CEO, JCB and Ganesh Natrajan, Vice Chairman & CEO, Zensar Technologies, sharing a laugh

e live in a Volatile, Uncertain, Complex and Ambiguous (VUCA) business world. There have never been as many challenges facing businesses, as they do today. From a plummeting Rupee to intense competition on all fronts, Indian businesses have their work cut out for them. As the old adage goes, challenges are opportunities in disguise. Opportunities to rise above the rest and stand the test of time. Opportunities to identify like-minded business leaders, and collaborate on ideas that will make a difference. One such opportunity came at the 18th National Human Resource Development conference, held at the Renaissance conventional centre at Mumbai. The topic of focus was sustainable growth in VUCA times. Business leaders not just from India, but from around the globe met together and discussed the various business challenges organisations need to overcome, in order to thrive in todayâ&#x20AC;&#x2122;s cut-throat business environment. Industry stalwarts like Zensar CEO Ganesh Natrajan, Tech Mahindra CMO Thallapali Hari and Larsen & Toubro CEO Krishnamurthy Venkataramanan shared their pearls of wisdom with thousands of keen business leaders and budding professionals in attendance. Significant topics such as the relevance of the bell curve, inspiring young leadership and mitigating change were discussed. In what emerged to be one of the most interactive conferences seen in in recent times, audience participation was unprecedented. Not only did panelists encourage the audience to ask questions on a wide variety of topics, ranging from industrial harmony, leadership challenges all the way to tackling low employment numbers in India, they also took questions from 38 / Corporate Citizen / January 1-15, 2015

Delegates during a short break

Speakers introducing panelists at the summit

Richard Smith, Senior lecturer, Singapore Management University

M. Damodaran, Former Chairman (SEBI) passes along insightful life lessons to the audience

Mohammed Asif Iqbal, Manager, HR consulting at PricewaterhouseCoopers

Vote of thanks by Kavita Kulkarni

Members of NHRD Mumbai Chapter passing the baton to the Delhi Chapter, to host the 19th National Conference in 2015

Dr N S Rajan interacting with young entreprenuers

January 1-15, 2015 / Corporate Citizen / 39

Members of NHRD on stage after introducing the new NHRD competency framework at the VUCA summit

Panelists discussing the implications of doing business in VUCA times

T Hari, Ishan Raina, Mini Menon and Bibek Debroy, discussing ways to inspire young leadership

Gautam Ghosh, Ravi Kriplani, Ipsita Dasgupta and Vipul Jain, during a panel discussion Hasit Kaji, M K Rajkumar, M M Murugappan, Dr Prasenjit Bose and K. Pandia Rajan

Shivender Mohan Singh one-on-one with Nishchae Suri Rajesh Padmanabhan interacting with delegates

40 / Corporate Citizen / January 1-15, 2015

Panelists debating during an engrossing session

A delegate posing a question to the panelists

Ranjini Manian, Founder & CEO, Global Adjustment services Pvt Ltd

Sonali Roy Chowdhury, Country Head, HR, Procter & Gamble, facilitating a panel discussion

A dignitary adressing queries during an impromtu session

A delegate clarifying a query from the panellists

Rama Bijapurkar, Consumer India Head, expressing her views on job creation

Krishnamurthi Venkataramanan, CEO, Larsen & Toubro, being felicitated by Padma Shri Dr. Pritam Singh

The litmus test of a responsive organization is a dynamic HR mechanism, which not only anticipates change, but also facilitates it. An organization moves ahead with its employees, not without them the tech savvy twitterati who were in full swing all through the 3 day conference. What set the conference apart from the multitude of similar events is the fact that no punches were pulled throughout the event. Controversial topics like unequal ratios of men to women in the workforce, the contribution of corporate leaders with disabilities and the dwindling percentage of employable graduates in the industry were all addressed with gusto. One of the issues that emerged was the need to improve the quality of education currently imparted to students. The education system needs to move its focus from theory to practical application, so that the transition for freshers into corporate life is smooth and not jarring. The need for improving the on-the-job training model to make it more interactive and inclusive was also discussed. India is one of the best exporters of talent, with scores of graduates moving abroad for job opportunities. If organisations subscribe to PM Modiâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Make in Indiaâ&#x20AC;&#x2122; campaign, more and more jobs could be created locally, which would prevent the exodus of talent beyond our shores. The message that stood out was the way leaders need to deal with the change. VUCA times are not a phase that businesses are passing through. VUCA times are here to stay. They are, in fact, the new norm, the reality that organisations need to accept. Just changing with times is no longer enough. Organizations now need to stay ahead of

change, anticipating it and strategizing ahead of time. HR plays a key role in any organization. HR should always be at the forefront of the change management process. The litmus test of a responsive organization is a dynamic HR mechanism, which not only anticipates change, but also facilitates it. Companies need to develop and nurture a robust HR, will become the driving force behind growth. Change by its very nature, is opposed by most employees. It is upto HR to ensure that the reasons for change are conveyed to the workforce in a systematic way, and every effort is taken to address their concerns. An organization moves ahead with its employees, not without them. Therefore, involving them every step of the way in the change process is imperative. Well motivated employees not only help in tackling change, they actually accelerate the process. At the end of the day, organisations need to beat challenges together. VUCA times are not isolated to any particular organisation, but to the entire corporate world. It is through events like the NHRD conference, that businesses can come together and collectively find a way to adapt and overcome any challenge that may come their way. Sustainable efforts and a cohesive system of collaboration is the only way organisations can thrive in these challenging times. Corporate Citizen Journalists, as always, covered the summit from start to end, and also presented copies of the magazine to the key speakers and delegates. January 1-15, 2015 / Corporate Citizen / 41

debate

Is The Bell Curve Good Or Bad? Top Executives Speak Out

In statistics, a bell curve is the curve of data points plotted for studying the given data set. It gets its name from the fact that it resembles the shape of a bell. In simple terms, it is the curve having its highest point at the centre (median), which slopes down steeply on both its sides. The slopes on both sides depend on the variations in the data set (standard deviation). If the variations are too high, then the bell curve becomes a tall tower. On the other hand, if the variations are too small, then the slope reduces and the centre of the curve becomes too broad. By Anand Karwa

he bell curve is widely employed for understanding the characteristics of a set of data from multiple angles like performance, repeated measurements, approximation of chance events, etc. It is best applied to a data set having some symmetry in its data points. For anything else it will not resemble a bell anymore and hence canâ&#x20AC;&#x2122;t be used for interpreting the data.

Bell Curve & Performance Management Bell curve is highly used in current corporate world for measuring

42 / Corporate Citizen / January 1-15, 2015

employee performance the while giving raises and incentives. The bell curve has proved to be a very effective tool for gauging employee performance but just like all things in this universe, it comes with its own set of shortcomings related to its implementation. The managers must always keep its shortcomings in mind before implementing it for performance management. Most companies forcefully divide their employees into 3 segmentsthe hyper-performers, the average performers, and the poor-performers. The first and the main shortcoming of the bell curve are these forced ratings.

within a single band is a not a good practice. An organisation should then work on improving the skill sets of average performers for converting them to high or hyper performers by proper coaching and training.

Adil Malia

Group President HR at Essar Group “It is high time that someone pulls the power plug of the bell curve. I am against the concept of talent management using normalisation bell curve as the tool for doing that. It is time for us to write an obituary to the bell curve.” Like you read above, the bell curve can cause more problems than it actually solves, if implemented in the wrong way. That’s why it is always better to use normalisation while assessing employee performance as it reduces the effect that human behaviour of leniency and strictness can have on the employee ratings.

Rajesh Padmanabhan

CHRO, Vedanta Group “Skills and performance are two aspects which must be balanced. It’s a kind of a balance where you give equal weightage to the socialistic aspect, the performance aspect, the skills aspect, and also differentiate.” It is much easier for companies to manage performance and talent, but creating talent is a lot bigger charter. A company must constantly work on improving their workforce rather than relieving all poor and low performers from their duty. If it does so, then it not only tarnishes its image but also makes people wary of dealing with such a company.

Saurabh Govil

The managers rate their employees on a scale of 1-5, where 1 represents poor-performers and 5 represents hyper-performers. This might sound good on paper but it’s not always a good practice to do so. For e.g.: What if most of the employees are performing very well? By implementing such a system, the company will label some of them as poor-performers. These good performers when labelled as poor-performers might not feel motivated to work for the company anymore and hence, the company will lose some very good employees. Secondly, many companies provide the same incentives and bonuses to all performers. These performers are described as people who occupy a large swath at the centre of the curve till its end on the extreme right. The problem with this approach is that even the average performers get the same rewards as the hyper-performers. This encourages them to perform just good enough for being in the centre of the curve because putting in a lot of efforts won’t take them any further either. karwa.anand@outlook.com

Senior Vice President, HR at Wipro “Don’t wish away the bell curve. If you look at the last 2 decades, it was the most appropriate thing to do. We could differentiate, reward the performers, give promotions, etc. It helps in judging performance. You have to differentiate. The challenge today is “Are we doing it in the right fashion?” “If you don’t differentiate, you will become a mediocre organisation. Do it in the right way and coach people and managers. Bell curve is not an issue but its incorrect implementation is,” Saurabh adds. After differentiating the employees via the bell curve, the employer should have different and large number of bands to be allotted to the employees. Clubbing the majority of employees

Ashok Ramchandran

HR Director at Vodafone India “Tools are made to help us get excellent output. People join companies for success. Bell curve is a fraction of eco-system that allows people to succeed. Differentiation is here to stay.” People join big multinational companies for progressing in their careers and for that progress to happen, the high performers should be differentiated from the poor performers by some tool or the other.

January 1-15, 2015 / Corporate Citizen / 43

women achievers

Every goal has a human face For someone who set out to ‘serve society’, with a career dream in the Indian Administrative Services (IAS), Aparna Sharma’s journey from small town Ujjain to a global HR thought leader is worth reckoning. Aparna’s gutsy spirit underlines her strong conviction and value system, which have often dictated her career choices. By Sangeeta Ghosh Dastidar

44 / Corporate Citizen / January 1-15, 2015

e it at her very first job at Nocil, her engagement as an expatriate in the Phillipines, or in her multidisciplinary roles at Monsanto, India, each offered Aparna the scope to test her acumen in handling local and global business challenges. All through her stints with Novartis Healthcare Private Ltd, with UCB India, a Belgium-based pharmaceutical company, or her current role as Country HR Head at Lafarge India, Aparna has stayed cued into country-specific corporate cultures and business nuances to steer people power and underlying sub-cultures that impact growth and develop-

ment. “If you notice, I have been engaged with companies that directly impact people, be it in healthcare or biotechnology,” says Aparna. An informal chat with Corporate Citizen reveals Aparna Sharma’s ‘go-getter’ appeal, her penchant for ‘making an impact’ via talent management and her need to ‘make a difference’ socially by pledging time and companionship for the less fortunate amongst us. Steely Strides CC: What has been your experience as a woman in the corporate world, especially in the so called ‘macho’ sectors of manufacturing and construction? AS: I have had my share of struggles. While it is not easy for women in any sector, being a ‘woman’ is definitely not a deterrent. Especially younger women today have the opportunity, but they need to rise above pre-conceived notions about working in so-called ‘non-traditional’ sectors such as manufacturing or production shopfloors or being posted to remote locations. Once on-board, women should not demand or expect to be treated any different from men under any given work condition. I have gained from ‘roughing it out’, rather than asking for special privileges. It is definitely tougher in a hierarchical system, but women should learn to ‘bite the bullet’. The “Glass Ceiling” does exist, however, women should not lower their aspirations. Do ask for that promotion, if you deserve it!

AS: Continue to dream and never compromise on your set goals. Women should harbour and work towards individual dreams while also working towards a joint-dream with their partner. Identify your passion, differentiate your needs from that of your family and chalk out and evolve these goals separately. Rally around your support network and do not get pulled into a perpetual state of identity crisis between your ‘self ’ and your social bearings as a ‘family’ person. CC: Your advice to youngsters on achieving goals and on career survival techniques. AS: Clarity in setting up career goals is a must, but it is equally important to recognise real-life variables, viz., domain knowledge and skills. Team work is critical; as is the need for patience in one’s drive to achieve results. While on-boarding transitions need to be honed gradually, youngsters should be self-reliant. An individual should take charge of his own growth and career development irrespective of the stakes of his organisation or boss! Your personal grooming and networking skills are essential too. Internships are foregrounds not just for cultivating professional assets; they are opportunities to create lasting impressions. In an organisation, “who knows you”, might spell your worth much more than “who you know”!

Pic: Yusuf Khan

“An individual should take charge of his own growth and career development irrespective of the stakes of his organisation or boss”

Banking on Beauty and Brains CC: Your thoughts or lessons learnt from working within multi-cultural environments and MNCs. AS: From my experience, American firms offer more parity, irrespective of gender biases. Women tend to face biases until they prove their mettle. I would like to advocate the adage of ‘beauty with brains’ to overcome such gender-led pre-conceptions. CC: Your take on managing young talent, especially women in non-traditional sectors. AS: Non-traditional sectors such as my current industry, can actually offer more scope for middle-managerial roles, especially as support staff in HR, Finance, Supply Chain and other semi-technical roles. Here, women in mid-career segments can gain more mileage if they enhance and add value in their respective job roles. CC: Your advice on honing personal aspirations.

Timely Managed Goals CC: How do you define your moment of glory? AS: Achieving glory is not an isolated goal. It is a continuous attempt to touch the lives of the 2,000 to 3,000 odd staff under the company’s fold each day, and to work around company policies that serve employees. My aim is to positively impact the lives of people at work, appreciate the tasks accomplished and give ‘due where deserved’. A purposeful chat that enhances positive, passionate and energetic outcomes through people-connect is worth my time. You need empathy to manage people, and how much I respond to workforce-oriented matters becomes the outcome I achieve daily. That is a win-win. CC: How do you maintain a work-life balance ? AS: I understand the value of my time and differentiate my activities into core and non-core work. Accordingly, I deal, deploy or delegate to bring in competencies whether at work or at home. Women have to realise they are not ‘Superwomen’! sangeetagd2010@gmail.com

January 1-15, 2015 / Corporate Citizen / 45

csr initiative

Nurturing Young Lives Does ushering in the New Year at different travel destinations each year sound like a childhood whim?

By Sangeeta Ghosh Dastidar

ot for N. Narasimha Rao, Vice President, Human Resources & Corporate Communications, Agro Tech Foods Ltd. (ATFL), the enterprise promoting popular brands - Sundrop and Crystal oils, ACT II popcorn, Sundrop Peanut Butter and Snack Break. The HR doyen is a sublimely ‘young at heart’ senior professional who finds much allure in the ‘common spirit’ of New Year celebrations witnessed at the Times Square, New York, at London’s Big Ben or across the Sydney harbour. Fondly called NNR by his colleagues, Rao is a firm believer of cohesive engagement with the youth brigade. His HR ‘mantra’ rides on his vision for companies to master the ‘art’ of employee engagement. NNR shares his thoughts on harnessing the power of youth, his views on talent retention and his pet CSR project ‘Poshan’, under the ATFL mantle.

CC: Your observations on students now and say, two decades ago? NNR: Students today have very high risk appetites with even higher knowledge quotient. Their desire to excel and experiment within their work and personal spheres are even higher; pushing them to seek newer challenges. Earlier, the primary need for a job to ‘settle down’ with a good compensation package was perhaps the only driving force for exuding competence but, this is no longer the case.

CC: What are the organisational responsibilities of young management graduates? NNR: Organisations often find it difficult to offer 100 per cent employee engagement with new aspirants. This is where youngsters need to have the zeal to add value beyond their job specifications. In the FMCG space, the stakes are higher at the ‘field sales’ levels and a young trainee has to be gritty enough to take the ‘No’ along with the ‘Yes’, exhibit integrity, loyalty and help design suitable workplace

solutions. They need to be patient and communicate their goals too.

Talent Management

CC: What are the challenges in retaining talent? NNR: The idea is to steer all for inclusive leadership roles. Unfortunately, organisations have not risen to their capacities in offering positive workplace engagement. With base compensations no longer the absolute retention benchmarks, the need is to devise meaningful

Youthful Synergies

CC: Your personal thoughts on HR forums organised for management undergraduates NNR: Young management aspirants, armed with cuttingedge technology are raring to go with their vibrant and aggressive thought processes. Communicating with them re-energises my faculties in understanding their aspirations. These are platforms for sharing my corporate experiences with the youth brigade and initiating them in their upcoming corporate journey.

Impact ‘Poshan’ Project Poshan Programme

October 2012 (before commencement of programme) November’12

November 2012 (After one month)

December 2012 (After two months)

January 2013 (After three months)

Total number of children

1405

1420

1394

1429

Red

136

127

106

Yellow

557

540

531

507

Green

712

753

757

824

46 / Corporate Citizen / January 1-15, 2015

N. Narasimha Rao

Rx – Peanut Butter for Health: Project ‘Poshan’ Genesis: AgroTech Foods Ltd’s (ATFL) mid-day meal program - ‘Feeding Children Better’ started in 2002 for under-privileged children in select schools in urban areas, later rechristened in 2012 as ‘Poshan’, literally embarked to do what it meant — provide ‘nutrition’ to undernourished children. CSR Strategy The Peanut Butter Way Pic courtesy: Weber Shandwick India

and long-term strategies. The process at the entry level itself has to cue in to individual aspirations and their current skill sets. Because one size does not fit all, strategies have to be developed distinctly to suit even a 50 year old employee. It is equally important for nurturing learning agilities of a young recruit and a mid-level executive. CC: What are the challenges in combating attrition rates? NNR: More than attrition, the challenge in our slow growth sector has been to sustain motivational levels of the current crop of aspirants and managers. With constant communication, we have been able to stem our key talent from quitting.

We have learnt from our many exit interviews that often employees are not aware of existing career related company initiatives. Companies need to monitor HR initiatives and communicate regularly with the staff. CC: How does ATFL motivate its employees? NNR: The key is in challenging employees to ideate and innovate for continuous improvement. CC: What has been the most challenging phase in your career? NNR: My eight years at ATFL - when I had the opportunity to turn around the company in building a more competitive entity from its earlier period of

low workforce morale and slow business tempo. This was possible by harnessing ‘people power’. CC: What do you consider as your moment of glory? NNR: When I got to shoulder ATFL’s prestigious CSR initiative, ‘Poshan’, aimed at stemming the problems of child malnutrition. I consider this project as my ‘third child’. Project ‘Poshan’ (see box) is run under the Bharuch district administration’s nutrition project called ‘Vaatsalya’ – which initially targeted around 1,400 children in 25 ‘anganwadis’ across 17 villages and two Child Malnutrition and Treatment Centres (CMTC). ATFL supplies Sundrop peanut butter as an important nutrient to around 3,000

underprivileged community children as part of their daily meal plan. The next phase plans are expected to cover another 3000 children at other ATFL manufacturing locations across Uttarakhand and Uttar Pradesh.

Signing Off

NNR’s reading habits too follow his passion for ‘all’ and ‘any’ content on employee engagement. A stickler for adequate ‘me and family time’, NNR’s day is made if he can help somebody in distress. He advocates a five day week working model, lest you get cornered by the stress bug! sangeetagd2010@gmail.com

January 1-15, 2015 / Corporate Citizen / 47

green entrepreneur

Business of

Raddi

Raddi Express is paving the road for a cleaner India by leveraging digital infrastructure to provide an efficient paper waste management system

ntrepreneurs now see business opportunity in waste paper. The raddiwala employed with start-ups can be summoned to home with the click of a mouse or a phone call. AMRINDER SINGH, 57, is a government employee living in south Delhi’s Lajpat Nagar. His neighbours say he has a big heart—he donates generously for religious functions and other community services in his locality. His domestic help, too, is all praise for him as he helps her with money whenever she is in need. But when it comes to selling the waste in his house, Singh forgets his generous nature and makes every penny count. On the first Sunday of every month, he haggles with the raddiwala (scrap dealer) who goes to his house to collect newspapers. And he does so in a voice loud enough for his neighbours to hear, as if to deter them from selling their waste to the raddiwala who could be cheating them. Nothing irks Singh more than getting less from a waste collector, even if it is a paltry sum of Rs 2. To ease his troubles, he went to Central market to buy himself a weighing scale, spending more than what he could have earned by selling waste. One Sunday, Singh saw his new tenants selling their waste paper to uniformed men at their doorstep. They had an electronic weighing scale and provided the tenants with a receipt along with the money. There was no haggling and, for the first time, Singh realised that selling waste could be smooth and hassle-free.

A click away

In the past two years, a number of waste collection centres have come up in the country. In Delhi, Raddi Express is the most active. Its website claims that it is the city’s “first professional waste paper pickup service”. At www.raddiexpress.com, one can either register and book an appointment with the waste collectors online or make a call to invite them home. The telecallers ask for a suitable date and time. The customer receives a confirmation call half an hour before the waste collectors reach their house. While unorganised waste collectors in the city offer anywhere between Rs 10-Rs 12 per kg for newspapers, cardboard and waste paper, Raddi Express offers Rs 11 per kg. Customers who have pamphlets distributed with newspapers get an extra 50 paise/kg. The only condition is that a customer should have a minimum of 10 kg waste paper. Used bottles

48 / Corporate Citizen / January 1-15, 2015

or metal scraps are not collected. Singh is one of the happy beneficiaries of this service. In the first week of every month, he pesters his son to book an appointment with the raddiwala at raddiexpress.com. Today, he sells his waste paper at best rates, without haggling. Raddi Express is part of India Recypa Pvt. Ltd., a joint venture waste paper trading company, with its office in Nehru Place. India Recypa had tie-ups with recycling plants in the country. But it began to face problems of sourcing waste material. It then decided to enter the market by collecting waste directly

India is the fastest growing market for paper globally 1 .31 Crore tonnes of paper was produced in India in 2013-14 nly 20% of paper is currently recycled in India, O which is one of the lowest percentages in the world I ndustries requiring waste paper for input have to import nearly 50% of their waste paper requirements from abroad

At raddiexpress.com, one can either register and book an appointment. The customer receives a confirmation call half an hour before the waste collectors reach their house from homes and offices. The company started raddiexpress.com, which became operational in January this year. At present, its “fleet on street” is 20-persons strong. Ajay Sharma, Raddi Express’ general manager, says that the motive is to make people aware of the usefulness of recycling. This, he adds, will bring down the paper industry’s dependence on the import of raw material. According to Indian Agro & Recycled Paper Mills Association, India produces 12-15 million tonnes of waste paper every year, out of which only 26 per cent is recycled. This is insignificant compared to what is recycled by Germany (80 per cent), Sweden (69 per cent), Japan (60 per cent) and the US (49 per cent). Sharma says the company wants to change the profile of waste collection business in India. “We are trying to create awareness among the people. But there are problems. Some resident welfare associations do not support us. When our collectors go there, the security guards hesitate to let them in and even the local raddiwala threatens them. The people in the area have to come forward and support us,” he says. Raddi Express has six collection vans stationed in different parts of Delhi and two warehouses to store the waste collected each day. When there is enough waste for a truckload, it is sent to one of the 27

paper mills with which India Recypa has a tieup. There is no dealer or middleman involved. The waste collectors directly sell their waste to the recycler, which is why the company can afford a higher profit margin. Sanjeev Sharma, assistant manager of Raddi Express, says they get close to 100 calls a day. “We try to ensure that the calls are catered to the very same day,” he adds. A pickup van collects between 400 kg and 500 kg of waste paper per day. Apart from providing credibility to the waste collector and making the transaction easy for the customer, the company has innovative ideas to promote its work. One of these is the barter system. Instead of money, customers can choose products such as A4-size paper, diaries, registers, copies and spiral notepads.

Flourishing business

Raddi Express is not the only service to have gone online. Raddi Bazaar, another online portal, caters to people in Dwarka, National Capital Region, while Raddiwala has started in Mumbai. Kabadi King in Jaipur and The Kabadiwala in Bhopal have been in the market for more than a year now and boast a list of dedicated customers who supply them waste paper every month. Anurag Asati, co-founder of

thekabadiwala.com, says that the idea struck him while he was looking for a raddiwala to sell waste. “I wondered: what if there is a system where people could just call or register online and waste collectors would visit their house at a convenient time?” Asati has a team of 20-25 people. He says that he started his company with an investment of Rs 20,000 with the help of friends. Over the years, with an increase in the number of customers, the profits have increased. Now, the company gets between 20 and 30 orders every day.

Livelihood threat

Mohammed Taufiq, a waste dealer in Lajpat Nagar, does not know about the online system that could threaten his business. When asked how he would survive in the market, he said, “Jab hoga dekha jayega, abhi se soch ke kya faida? (Will see when it happens, why should I start worrying now?)” Others have devised ways to take on the challenge. “I have printed visiting cards with my phone number and address. I can come whenever people want me to. If they have a problem with the weighing scale I use, they can use their own,” says Anwar, a waste collector in Lajpat Nagar. “It is just that the computer raddiwalas look good with their clean clothes and uniform. This is just a craze,” he adds. Courtesy: www.downtoearth.org.in

January 1-15, 2015 / Corporate Citizen / 49

Delhi Belly

Gurgaon: Going With better comfort level and infrastructure, Gurgaon has fast become the top destination among all other NCR properties for investment returns. By Pradeep Mathur

ith the New Year, 2015, round the corner and the fast recovering economy, backed by revival in the investment climate and private consumption demand, the real estate sector in and around Delhi is witnessing increasing business activity. While this is true for most of the National Capital Region including posh properties of South Delhi, Noida, Greater Noida, Faridabad and Ghaziabad in the last quarter of 2014, it is not Faridabad but Gurgaon in Haryana that is emerging as the Capital’s most expensive neighbourhood to stay in. If recent investment trends are any indicators, Gurgaon is also turning out to be an investor’s paradise. The reasons are many but the fact that property prices of as many as 30 sectors of what they call New Gurgaon have gone up by more than 100 per cent in the past four years making it beat the rest comfortably. Putting it simply, if you had invested Rs one crore in a posh Gurgaon apartment in 2010, it will easily fetch you over Rs 2.2 crore now. But hold your breath. If estate agents are to be believed, property prices haven’t peaked

yet—and hence luxury apartments in New Gurgaon are likely to become “pricier” over the next couple of years. “Gurgaon has overtaken Noida and Ghaziabad,” says a top executive of India’s biggest housing lender HDFC Ltd., because the city has not only been a consistent performer but with the highly ambitious, new Jagdish Khattar-led BJP government in Haryana, it is expected to ‘boom further’. Some of these high performing sectors with phenomenal growth potential include prominent clusters of DLF societies, Golf Course Road, Sectors 42-57, Sushant Lok, new constructions near IMT Manesar, Dwarka Expressway, Palam Vihar, Sectors 65-92, Sector 106 and South Peripheral Road, to name a few. With highly ranked schools, better Metro connectivity with Delhi, swanky offices of top IT and nearly 250 Fortune 500 companies, improved infrastructure, lush-green golf courses, reasonably good eating joints, five star hotels, glitzy malls, skyscrapers and an active night life, Gurgaon is said to offer everything that a young and upmarket professional asks for. No wonder, the Millennium City has become a “melting pot of cultures” for

50 / Corporate Citizen / January 1-15, 2015

most white collar executives who believe that Gurgaon’s cosmopolitan culture and affluence has made it the “neighbour’s (Delhi’s) envy, owner’s pride”, though they also privately complain about its water shortage and poor sewage disposal. However, as we usher in the new real estate season, most property agents feel that after Gurgaon, it is Noida, Greater Noida and Ghaziabad (all in Uttar Pradesh), which are fast emerging as the darlings of Delhi’s most sought after neighbourhoods. Sharing insight as to why these areas are buzzing, they point out, “Noida and Greater Noida’s popularity are constantly rising because they offer a special cocktail of software, web and IT services, manufacturing hub for electronics and car/automobile makers and advertising, media and entertainment services. Noida’s Film City has become a nodal centre for all big news channels including Zee TV, NDTV, Network 18, ABP TV, Sahara Parivaar, T-series, CNN-IBN, India Today group and so many others. With so much happening around these places, wealth managers see lots of growth taking place in the real estate properties of these ‘obviously hot neighbourhood markets’ f the Capital. They feel that with more and more large IT and telecom companies making huge investment in these locations, “there will be high growth in home demand and prices

Great Guns

My aim is to positively impact the lives of people at work, appreciate the tasks accomplished and give ‘due where deserved’ will shoot and offer good returns in the near future.” Analysts also say that if you have the money, you must look at all options available in these Metro-connected NCR locations because most large builders and real estate investors have huge housing projects here. Incidentally, the prices of most residential properties in Delhi’s crème-de-la-crème Lutyens’ Bungalow Zone (where all highprofile politicians and top-notch businessmen

live) have seen a steady rise in the past four months as the “demand-supply equation continues to be in favour of demand,” says a spokesman of the consultancy firm Cushman & Wakefield. But, surprise of surprises, the most talked about property deals that took place in the last quarter had not occurred in the Lutyens’ zone but outside it. While one such was a bungalow (1920 sq yard) in the East area of Friends Colony, which was bought by HCL chairman

Pic Credit: The Indian Express

Shiv Nadar for Rs 115 crore for his daughter Roshni Nadar and son-in-law Neelkamal Malhotra, another was a recent transaction for Indiabulls promoter Rajiv Rattan who also bought a bungalow for Rs 220 crore on the prestigious Amrita Shergill Marg. All attempts to contact the Nadars or HCL failed as they did not respond to any emails sent. The same was the case with Indiabulls. Insiders also say that transactions in areas like Friends Colony have suffered in recent times because the Delhi government has clubbed the Lutyens’ Zone and Friends Colony in the same ‘A’ category, which has a circle rate of a whopping 6.5 lakh per sq yard or 7.74 lakh per sq metre. The Nadars were lucky as their transaction had concluded just prior to the latest revision at about 5.75 lakh per sq yard. Though all these neighbourhood places offering beautiful residential skyscrapers are just an hour’s drive from Delhi, affordable housing remains a key challenge even for higher middle-class people who aspire to own an apartment in Delhi or Gurgaon. The average cost of a 1,000 square feet 2 bedroom flat at a decent condominium in Gurgaon is, at least, Rs 1 crore! Obviously, not many can afford such frightfully expensive properties despite easy bank loans and such other options. Thus, all one can hope for in the new year is: Will PM Modi’s promise of achhe din bring some respite to those who look for affordable housing and better returns for their investments made in the realty sector? mathurpradeep1@gmail.com

January 1-15, 2015 / Corporate Citizen / 51

aviation

Now, fight for your delayed flights

Much to the relief of air travellers on-board Indian domestic flights, regulations have now been channelsized by the Directorate General of Civil Aviation (DGCA). Sangeeta Ghosh Dastidar

etting stranded or stuck in airports due to bad weather or tarmac delays; cases of lost baggage; refund claims; booking and cancellation woes; these are common scenarios for air travellers globally. But there are strictures in place that govern international passenger rights. Much to the respite of air travellers on-board Indian domestic flights, similar regulations have now been channelised by the Directorate General of Civil Aviation (DGCA), making passengers privy to their rights on compensations and other privileges under the DGCA mandate. The DGCA’s attempt is to guarantee air passage rights to travellers on domestic flights via a text-based ‘Know Your Rights’ (KYR) online portal. The portal is aimed at addressing air passenger issues over flight delays, cancellations, on matters of denied boarding, lost, delayed, misplaced or damaged baggage, and on matters related to booking, airfare components and refund of air tickets. The online redressal platform will cover passengers across prime domestic airlines-Air India, Jet Airways, SpiceJet, Go Air, Indigo, Air Costa and Air Asia. Format Driven Portal Guide The user-friendly KYR portal provides guidance across six primary categories related to travel issues: on special assistance that covers existing and extra facilities for senior citizens and differently-abled passengers, an advisory channel related to air fare surcharges, a

grievance redressal option and procedural mechanism, statutory regulations for disruptive passengers and on health-related in-flight tips. Your Rights On Flights Your rights are governed by the following guidelines and laws. and what they mean to you: Airfares  You have the right to know the break-up of your fare component in the mandated ‘single consolidated fare’ that is displayed by airlines. So, always check the total fare and its break-up on your air ticket.  Remember that your ticket fare component bears a tax element that is always payable to the Government, while the fees factor is payable to service providers for any service or facility rendered to you. Airfare Refunds Airfare refund process is based on whether the original ticket was bought through cash, credit or through travel agents.  Ticket refund processing is immediate for tickets bought in cash; which can take anywhere within seven days for credit card transactions.  Understand that your refund amount should comprise passenger services fee, airport development fee (ADF)/User Development fee (UDF) and inclusive of the service tax.  You can either opt to claim your refund money or utilise the same for any future travel. Delays, Cancellation and

52 / Corporate Citizen / January 1-15, 2015

Denial to Board a Flight Delays:  Remember that airlines are not obligated to compensate if the delay is caused due to extraordinary circumstances like natural disasters or political wars.  You are entitled to meals and refreshments for flight delays up to 24 hours, and for additional hotel accommodation with transfer facilities for delays beyond 24 hours but, hotel selection is the absolute prerogative of the operating airline.  If you have checked-in on time and the airline expects a delay beyond its original announced scheduled time of departure or a revised time of departure, you are entitled to facilities such as refreshments and accommodations as the case might be.  Always provide correct contact details to the airlines at the time of booking to ensure timely information on flight delays. Cancellations  You will not be entitled for compensation on account of cancellations and delays caused due to extraordinary circumstance(s) beyond the control of the airline, such as natural disasters, civil war or political instability.  You will not be entitled for any compensation if you don’t accept alternate travel arrangements offered by the airline or when the cancellation occurs due to extraordinary circumstances beyond the control of the airline.  You are liable for compensation if the airline fails to inform you of any possible flight cancellation, at least, three hours in advance of the scheduled departure time.

 Once a flight is cancelled, an airline is liable to refund your ticket in case you are not willing to travel on its alternate or the subsequent flight or on another airline’s flight.  An airline is bound to provide you alternate travel opportunities at no additional cost, if you so desire. Denied Boarding Airlines generally overbook flights to ensure full seat capacity, leaving room for cancellations by passengers. In such cases, there may be circumstances on a particular day when more passengers report for the flight than the number of seats available. Under such conditions, the airline may deny boarding to you despite your holding confirmed tickets or having reported for the flight well before the departure time.  If you are denied boarding against your wish, an airline is liable to pay you monetary compensation  If the cost of your ticket is less than the amount of compensation as prescribed, you will be entitled to an amount equivalent to the original ticket cost in addition to refund of air ticket at the price it was purchased. Assistance for Differently-Abled Individuals Passengers with disability and reduced mobility have special travel-related entitlements. Guidelines also explain safety norms that are mandated to be provided by the carrier airlines to disabled passengers en route. For individuals with special needs, an important order also extends facilities of blocking

If your flight is cancelled, and you are waiting for an alternate flight, the airline is bound to provide you meals and refreshments two window seats till 24 hours. Your privileges:  Notify the airline on your special needs at least 48 hours before the scheduled departure time.  Seek and ask your carrier for assistance with your particular need for continuous travel or assisted movement from the departure terminal to the aircraft and also at the destination point, from the aircraft to the arrival terminal.  Seek assistance for baggage claims and on exiting from the destination airport to a safe transport mode--car, cab, etc.  In case of airline off-loading scenarios, passengers with special needs hold the highest priority for transportation, along with their escorts, if any.  Individuals with special needs have to make sure that they have been suitably briefed about safety and emergency evacuation procedures on board their designated aircraft. Senior Citizens and Expectant Mothers  Senior citizens, expectant

mothers and disabled passengers are entitled to automated buggies in the terminal building up to the boarding gate and these are available free of charge at airports having annual aircraft movements of 50,000 or more.  Look for signage in terminal buildings to locate automated buggies and small trolleys.  Automated buggies are facilities for senior individuals and pregnant women who might feel that the boarding gate is located beyond reasonable walking distance.  Make sure to use small trolleys provided by airport operator after security check for carrying hand baggage up to boarding gate. Passenger Advisory Service on Airfare Overcharges The rule cautions passengers on verifying air tariff details and related refund policy.  If you are in doubt of being overcharged for your tickets, you can now approach the airline website or booking office to understand air fare components.

 You also have the right to clarify with your carrier airline on any extra charges levied beyond the single consolidated fare component. Unruly Passengers You will be penalised for:  Assaulting, intimidating or threatening, physically or verbally, any crew members.  Refusing to follow a lawful instruction given by a crew member for ensuring aircraft safety or that of any person or property on-board a flight.  Drunkenness in aircraft by illegal consumption of alcoholic beverages or drugs.  Smoking in an aircraft.  Intentionally causing damage to or destroy any property. Offences are punishable under the provision of Rule 161 with imprisonment or fine components depending on the seriousness of the offence as prescribed under various rules. Health-Related Tips for Passenger Air-Worthiness This segment educates air trav-

ellers on possible health-related worries. Crew members can make you aware of your health related restrictions or precautions that need to be taken on-board flights due to:  Deep vein thrombosis (DVT)  Alcohol consumption  Cabin pressure and ENT  Jet lag dilemmas  Infection risks, motion sickness and heart issues. The Grievance Redressal  If you are aggrieved on any issues related to travel on board a particular carrier, you have the right to directly contact the concerned nodal officers.  If unresolved, you also have the right to approach the Appellate Authority. KYR Control So, the next time you book your airline ticket, do not forget to scan through the DGCA’s fine print that govern your ‘rights’ for successful take-offs and landings-lest you get ‘bumped off ’ the aisle!

sangeetagd2010@gmail.com

January 1-15, 2015 / Corporate Citizen / 53

Student of the fortnight

star officers are born From the rough and rugged terrain of the National Defence Academy, Khadakvasla, we bring you the story of two young achievers: their struggle, their success and their heart-warming camaraderie. By Kriti Sharma We all dream of success. But winners wake up and work hard at it. Meet Cadet Arpit Sangwan and Cadet Lalit Thapliyal from the National Defence Academy. They graduated in November 2014 at the top of their batch, securing gold and silver medal honours respectively. At an age when most boys are still uncertain about their career choices, these men have already

scaled great heights. But to say that they have been privileged in achieving success would be grossly incorrect. Success never comes easy, and for these cadets too, success was the result of perseverance, patience and passion.

Early Beginnings

Both cadets grew up with a strong defence background. Cadet Sangwanâ&#x20AC;&#x2122;s father, Cdr.

54 / Corporate Citizen / January 1-15, 2015

AK Sangwan, is a Naval Officer, currently posted in New Delhi. Cadet Thapliyalâ&#x20AC;&#x2122;s father, DN Thapliyal, worked as a teacher at the Rashtriya Indian Military College, Dehradun and is currently the Vice Principal of the institution. In fact, ask them what shaped their career choices and they both tell you that the environment in which they grew up influenced them a great deal. So

Cadet Arpit Sangwan and Cadet Lalit Thapliyal graduated in Nov 2014 at the top of their batch. At an age when most boys are still uncertain about their career, these men have already scaled great heights strong was this influence that their siblings also chose to join the Indian Armed Forces. Cadet Thapliyal’s elder sister is a Captain in the army and Cadet Sangwan’s sister will be commissioned as an officer in the Indian Air Force, in June.

Special Bond

Cadet Sangwan and Cadet Thapliyal have known each other for eight years. They were both classmates at the Rashtriya Indian Military College (RIMC), Dehradun. At NDA too, they were both in the same Charlie squadron. Over the years, their bond has turned from one of friendship to brotherhood. It is well-known that while Cadet Thapliyal was a medallist in the cross country, Cadet Sangwan was a brilliant student in academics. They used their respective strengths to help each other, and the result of such synergy is evident in their success. In the words of Cadet Sangwan, “Lalit is truly like a brother to me.

We’ve always been together since our days at RIMC. We share an inexplicable bond that is very dear to me.” Cadet Thapliyal further adds, “The moment of receiving the silver medal became more special because I could share it with Arpit. As we stood side by side, accepting the honour, I felt all the more victorious, knowing that my brother and I had together undertaken this journey and achieved our dreams.”

Not your quintessential high school

Life at the Rashtriya Indian Military College, Dehradun is tough, to say the least. The students here are extremely focussed. The rigorous selection procedure ensures that only the finest young boys make the cut. Cadet Thapliyal says, “RIMC plays a vital role in preparing its students to survive the difficult path that they’ve chosen for themselves. Along with regular academics, it provides you with ample physical training. It also prepares you for the NDA written entrance test in class XII. Additionally, it instils in its students a sense of discipline, unwavering commitment and team spirit. RIMC is the perfect launch pad for those who aspire to join NDA.” “At RIMC, one receives continuous direction under the guidance of teachers and seniors. This becomes extremely crucial when it comes to cracking NDA. RIMC also gives you a good exposure to military life. My experience at RIMC helped me choose the defence forces that I wanted to join,” comments Cadet Sangwan.

Life at NDA: Living the dream and more

Getting selected to NDA is only the beginning

of an arduous journey. The next three years are the hardest years of a cadet’s life. NDA tests you not only physically, but intellectually as well. The difficulty level is heightened because there is so much to do, and so little time. “Time management is a big issue. You really need to know how to prioritise your work, otherwise you’ll get nothing done,” tells Cadet Thapliyal. There are times when one comes back to his dormitory, fatigued and completely drained of life. There are days when one fails to give his best performance and faces the reprimands of his seniors. Many setbacks and obstacles are found along the way. Under such harsh conditions of physical and mental stress, it is natural for the cadets to feel vulnerable and defeated. What made these young men hold their ground? Cadet Sangwan narrates, “My father always said to me,‘There are two kinds of people in this world: the Who’s Who? and the Who’s He? Who you wish to be is your choice alone.’ Just because something is difficult, you can’t leave it midway and stand beaten. My three years in NDA were strenuous, no doubt. I had setbacks too. But I kept reminding myself of my goals, the reason I was here and the choices that I had made to get where I was. At the end of the day, it was willpower that propelled me forward.” Cadet Thapliyal says, “It was all worth it. That moment of crowning glory, when they bestowed the silver medal on me, every drop of sweat and ounce of toil felt fully realised. The pride that I saw in the eyes of my parents and sisters gave me immense joy. What I felt then is very difficult to put into coherent speech.”

The bright future ahead

Cadet Sangwan’s ambitions are clear. “My father is a Naval Officer. For as long as I can remember, I’ve always wanted to join the Navy.” But for a man with his merit, surely, his aspirations cannot be that humble. “RIMC has, in its glorious existence, produced five Army Chiefs and two Air Force Chiefs. I want to be the first Naval Chief from RIMC and make my alma mater proud.” Cadet Lalit Thapliyal, who is all set to join the Indian Military Academy tells us, “I’ve always wanted to be in the best possible defence force. Infantry is where my interest lies.” With a slight mischief in his eyes, he concedes, “Life is very glamourous there. I really would love a life like that.” At present, Cadet Sangwan is at the Indian Naval Academy, Ezhimala, Kerala and Cadet Thapliyal is at the Indian Military Academy, Dehradun. From all of us at Corporate Citizen, we wish these men success and many more laurels to come. kritisharma26@gmail.com

January 1-15, 2015 / Corporate Citizen / 55

courage unlimited

Loss of a leg couldn’t dampen Arunima’s ambition to conquer peaks By Monalisa Das On December 12, Arunima Sinha proudly stood beside Prime Minister Narendra Modi as the latter launched her first book, “Born Again on the Mountain”. She scaled the Mount Everest, the highest peak in the world in 2013, but that’s not the only reason why her story is special 56 / Corporate Citizen / January 1-15, 2015

During the launch, Arunima surprisingly was too composed and spoke very less, while others conversed with the PM. “That is when the PM came forward and told everyone, “Today is Arunima’s day and we should hear her speak today”, says Arunima. They ended up speaking about Arunima’s future plans of setting up a sports academy and her views on implementing the Swach Bharat Campaign in schools

runima is the first female amputee to have scaled the Everest. The book chronicles her long, arduous and ultimately jubilant journey to the peak of the Everest. Struggles are a part and parcel of human life. But Arunima’s story is about never stopping. Her story is of a person who believes in living life to a capacity that many of us never knew existed. Her story is one worth knowing.

The accident

The year was 2011. It was April 11. Arunima was on a train to Greater Noida from Lucknow. She was on her way to a job interview. Late at night, a few men entered the general compartment in which Arunima was seated and tried snatching the gold chain she was wearing on her neck. Arunima resisted. A tussle ensued. What happened next was set to change the course of her life forever. One of the men kicked her out of the train. “I tried holding on to the handle but couldn’t”, Arunima says reminiscing. She fell on the railway track. The area was pitch dark. She had no idea which part of the state she was in. And then a train approaching from another side crushed one of her legs. “I tried to move, but the pain was immense”. Though she managed to crawl to the space between two railway tracks, she was still lying dangerously close to the tracks. “I was lying so close to the tracks. The trains ran past me. If people happened to be urinating on the train at that point, it would sprinkle all over me”, she says remembering each detail as if it happened just yesterday. She tried to shout, but the immense blood loss was pulling her down.

The training and final expedition to conquer the world’s highest peak

“I tried to wipe it off my body, and I could not even do that”. Forty-nine trains whizzed past her before she was discovered in the morning and rushed to a hospital. Having been seriously injured with leg and pelvic injuries, doctors had to amputate her left leg below the knee.

Aftermath of the accident

Though she was grateful to the court and the media for their relentless support, Arunima, a former national level volleyball player, knew she could not forever make rounds of the courts fighting cases. She did think for a while that “my life was over”. For a sportsperson, what could be worse than an irreversible physical injury? “But I knew I wouldn’t give up. What had to happen, had happened. It was time to look forward”, she states.

Why Everest?

“After my accident, I wanted to do something challenging, I wanted to do mountaineering. Saying it and actually doing it is different, I know”, Arunima says in a-matter-of-fact way. People around me were taken aback by my decision. When I tried getting sponsorships, some said, “She seems to have lost her mind too along with her leg”. “But I had to get back my self-confidence and with my family’s support, I was able to reach my goal”, she asserts.

Arunima met Bachendri Pal, the first Indian woman to reach the summit of Mount Everest in 1984, and the chief of Tata Steel Adventure Foundation. Under her guidance, Arunima began training for a journey of Herculean proportions. Fielding several oppositions, Arunima finally got a full sponsorship from Tata Steel for the expedition to the Everest. And then began the journey that would become a chapter in history textbooks. “Until we had to walk, I was fine. But then we had to climb ice walls and it was just the beginning of tough situations for me”, she says. “One mistake and I could lose my life.” “After we crossed camp 3, we reached the area called the ‘death zone. I could see dead bodies everywhere. Some half buried in ice, all had turned blue. There was the body of one person who had a bottle of water in one hand and the cap in the other. It seemed he was trying to drink water but must have passed away before he could do that. It was shocking. If these able bodied people could not reach the summit, how can I?” Arunima’s vivid description of the scene is enough to give goosebumps. But now the expedition was no more about just Arunima. “It was for my family, for Tata Steel and for Bachchendri ma’am,” she says. And then the moment which Arunima

Arunima was treading one of the harshest and most dangerous regions in the world. One mistake could mean death. Her oxygen was running out. “I do not believe in luck. I think God helps those who help themselves” January 1-15, 2015 / Corporate Citizen / 57

courage unlimited

She took photographs of herself and asked the Sherpa to also record a video with a message, just in case she was not able to return to the ground alive. The world had to know what she had achieved

Arunima flying the Indian flag proud and high on top of Mount Elbrus in Europe. Arunima plans to write another book some day

Arunima receiving an award from Dr APJ Abdul Kalam. In November 2014, Union HRD minister Smrit Irani announced Arunima as the brand ambassador for Uttar Paradesh for the Swachh Bharat Abhiyan

was waiting for finally arrived on May 21, 2013 at 10:55 am IST. Arunima had reached the summit of Mt. Everest. The feeling, she says is difficult to describe. “It was amazing and yet very different. The view from there is splendid. From the Everest, it looks like the sun is rising from below you amidst the clouds. You are so high, right on top of the world. On one side was the sun, on the other was the moon and in between, it was me”, she states, although her feeling can only be tried to put in words. Tears rolled down her eyes only to freeze half way down her cheeks. At 8,842 km

above ground and with below -60 degree C temperature, the peak looked like it belonged to another world. People often refer to the peak as Kailash Parvat, and in a way it seemed it was made for the Gods. Ordinary mortals were incapable of surviving there, she asserts. Arunima, though exhausted by the time, was shouting with joy. “My sherpa got worried. He told me if I shouted too much, I would run out of oxygen faster,” she says laughing. At that point on the peak of Mount Everest, months of hard work and pent up emotions were culminating, the impossible became possible and all the Sherpa was worried about she runing out of oxygen.

58 / Corporate Citizen / January 1-15, 2015

Once Arunima returned, apart from the warm welcome she received, people from all walks of life came to her, saying they were inspired by what she did. They too now wanted to do something in life. “I then decided to take on another challenge. I decided to scale the highest peaks in each of the seven continents”, she says. She met Hanumath Gaekwad of the Bharat Vikas Group India Limited during an event and the latter was impressed with Arunima’s story. He told her he would sponsor her expeditions in the rest of the six continents. “I have scaled Mount Kilimanjaro in Africa and Mount Elbrus in Europe already. I have also covered Asia,” she says. Speaking about her book during the launch, she says, “I wanted my book to be launched by Ratan Tata or Narendra Modi.” Since her book already includes a quote by Ratan Tata, she zeroed in on the Prime Minister. When her publishers found it difficult to get through to the PM, she wrote a note herself, went to the PMO and put in a request. Her request was answered in the affirmative earlier this month. Her plans to go to Australia next were put on hold after her mother passed away recently. She is now ready for another journey, to conquer her dreams, to leave her foot prints for others to follow. Story and photos courtesy: www.thenewsminute.com

go getter

Upgrading Mobile Towers Radio Design India has received the prestigious Economic Times (ET) Award as the “Telecom Game Changer of the Year”. Gaurav Chauhan, Founder & Managing Director, Radio Design India, received this award from Shri Ravi Shankar Prasad, Minister, Department of Telecom

his award is given to recognize companies who have come up with different ideas or procedures that have changed an existing situation or activity in a significant way. Mahalakshmi Hariharan from Corporate Citizen caught up with Gaurav Chauhan, Founder and Managing Director at Radio Design India, who is enriched with rich global experience in the telecom industry across India, US, Europe and Asia. He spoke about his journey of setting up shop in India, his philosophies, and the way forward. “I always dreamt of doing something big. After I finished my engineering, I was lucky to work with leading organisations like Tulip and Reliance. But I realized I wouldn’t make it big by just doing a job…I would have to innovate,” recalls Chauhan, who draws inspiration from Shiv Khera, famous author, educator, business consultant and entrepreneur who says, “Winners don’t do different things, they do things differently.” He was born and raised in a middle class Rajput family in Bareilly, and did his engineering in electronics and telecommunications. He hails from a background where academics held prime importance. His dad was a process engineer in a chemical company, his mom, a homemaker. His siblings are well settled in the U.S and Noida. Interestingly, Chauhan’s better half is pursuing her PhD in Telecom Laws and Regulations. The love for telecom runs in the family!

Global exposure

It was quite an experience for Chauhan after joining Powerwave in 2006. “At Powerwave my job entailed networking, meeting and learning from all I met during my business trips. I observed how people talk, sit and behave in a business environment and how strategies are worked. And… from then on there was no looking back.”

Dreams come true

After six years in the corporate world, he set up Radio Design in 2008, headquartered in Leeds, UK, and the Indian operations in June 2009. Initially he operated from his home in Gurgaon. With a seed capital of Rs ten million, Chauhan was able to break even within the first year with revenue of Rs 50 million. His success mantra: discipline, punctuality, work- life balance and innovative thinking. Chauhan recalls, “At first, it was a one man show. I was the only soul handling operations, business development, human resources, accounts, finance and legal, all by myself.” Currently, Radio Design India facility has 45 employees, an executive floor, small production area, stores and three labs -- product design and development, engineering and hardware repair services. He expects a turnover of Rs 250 million at the close of financial 2014-15, plans to open a full production facility in Manesar, Gurgaon this year and an

Gaurav Chauhan, Founder & MD, Radio Design India receives the Game Changer of the year award by Shri Ravi Shankar Prasad, Minsiter, Department of Telecom

office in Mumbai next year. Radio Design has expanded into the Middle East, Africa and the U.S. Radio Design is a market leader in wireless infrastructure sharing solutions and radio frequency filter systems. It specializes in providing customized, technically complex RF filter solutions for optimum performance and ultimate cost-savings. It offers original equipment manufacturers, operators and infrastructure companies the easiest, fastest and lowest-cost ways to roll out their networks and simultaneously provide hardware repair services for all kinds of radio frequency and wireless products.

When the going gets tough…

It wasn’t all smooth sailing-- “I was disappointed when I got close to the bureaucratic set up of our country while setting up my business in India. But from there on I felt I should do something to fix this issue for the new generation.” “It was during this time that I read the book by Mahatma Gandhi-My Experiments with Truth. By drawing inspiration from this book, I began interacting with, encouraging and motivating people on subjects like business, education, industrialization, skill development, youth empowerment, government policies and voluntarily tried to support them with my knowledge and experience whenever and wherever I could.”

Advice to Gen Y

Chauhan’s advice to Gen Y--Lessons are flowing in the air with the oxygen. Your skill lies in how you can grab and learn from them… “They should prefer being a crocodile in a lake than a fish in a sea.” Radio Design plans to open a full production facility in Manesar, Gurgaon this year and an office in Mumbai by the next. Radio Design global has already made his presence felt in the markets of Middle East, Africa and the U.S. The company in India is expecting a turnover of Rs 250 million for this financial year 2014-15. Rural India, he says, is an untapped market. “Only 43 % of the population uses mobile phones. Online platforms remain unexplored, and there is greater need for 3G and 4G services. Telecom is the future of India and innovation will play a major role,” he signs off. Mahalakshmi.H@corporatecitizen.in January 1-15, 2015 / Corporate Citizen / 59

Offbeat Teacher

The Man Behind Prof. Simply Simple A one-on-one conversation with the witty Dharmendra Satapathy on career, education and his greatest creation: Prof. Simply Simple By Anand karwa

60 / Corporate Citizen / January 1-15, 2015

f you are into the financial services industry, you might have heard about Prof. Simply Simple. His teachings on the basics and management of finance have become the rage among the youth. We recently got a chance for a one-on-one conversation with Dharmendra Satapathy, the man behind Prof. Simply Simple. Dharmendra joined the advertising industry early in his career and soon realized that being an MBA at a young age doesn’t mean you have become a manager. “If you have ego and you think too much

about yourself, then you’ll fail in the corporate world,” he explains while talking about getting work done from senior employees of your company. It is the most challenging part of a manager’s job. You should respect your colleagues and be humble if you want to be successful in the corporate world. Dharmendra doesn’t see learning new things as challenges. “I am always a student in my mind. I learn new things all the time.” He also advises against getting stuck at the same type of job for a long time.” You might become very good at one thing, but then you won’t grow.” After serving quite a few years in the advertising industry, he joined Tata Mutual Fund as the Head of Marketing. That’s where he learnt about the basics of finance. The finance industry got him so interested that he started writing small lessons about the basics of finance, and that was how, as you might have guessed by now, Prof. Simply Simple came into being. His lessons about finance became very

a very badly used word in the corporate world and should be replaced by the term ‘mentor’,” he suggests. Unlike a boss, a mentor never bullies people but always helps and motivates them. On being asked about the trend among youngsters not sticking to a job he said, “Even I changed a lot of jobs. We can’t blame youngsters for that. Today’s youngsters are very smart, well versed with things, and far more balanced than us.” “They might switch a few jobs in the beginning, but many of them want to be entrepreneurs, or start NGOs,” he praised the young generation. “Prof. Simply Simple is the highlight of my career,” he admits while talking about how the fictional character changed his life by giving him the right direction. He believes that students should be taught about the basics of finance as early as in the ninth standard. Students are taught many subjects in school which are never put to use throughout their lives, but everybody wants to

The finance industry got him so interested that he started writing small lessons about the basics of finance, and that was how, as you might have guessed by now, Prof. Simply Simple came into being popular. “People don’t understand finance because it is not explained in a simple way. Graphs and charts make it even more complex,” he said, explaining why he created Prof. Simply Simple which became a super-hit in the industry. Even the Tata group praised him for creating it. The grand success of this fictitious character encouraged him to reach out to the world and start a new company to educate the masses about finance. He believed he could make complex things simple. “This is what I wanted to do in my life. This is my aim. Let me jump into it,” he said, explaining how he started ‘Next Level Education’. Next Level Education has dedicated programs for leadership, change management, and sales. The world around us is changing every day and the methods that used to work a few years ago have become completely useless now. “The biggest problem with the past has been the term ‘boss’. When you join a company you should kill your ego, but this term ‘boss’ takes you to the opposite direction.” It reminds him about slavery. “It is

invest his savings somewhere. “Financial education should be given more focus than any other education, as it has a great impact on one’s life,” he says, while talking about technical subjects that play no role in impacting one’s quality of life. He has three tips for the young generation -- have humility, be a student for life, and be financially educated. Contrary to popular notion, he says real education actually starts when one passes out of college. You must always keep on learning new things if you want to be successful in your life and career. “I am a hard-core supporter of entrepreneurship. I always recommend people to think of their own business for the long run,” he said while mentioning how his startup has helped him spend better quality-time with his family. In the end, it is the quality of time that matters, not the duration. People should start investing right after getting their first job, not for their retirement but for their second innings as entrepreneurs, he says. karwa.anand@outlook.com

January 1-15, 2015 / Corporate Citizen / 61

my campus placement experience : 3

‘Believe in work, not in luck’ Prasanthi Dasmanthrao talks about her journey to the corporate world 62 / Corporate Citizen / January 1-15, 2015

elieve in work and not in luck. Trust God but don’t depend on him. Alexander’s last words were: “Bury my body and keep my hands outside, so that the world knows the man who won the world had nothing in hands when he left”. These are some of the words that have etched in my mind and inspire me every time. I started my journey in July 2012 with many hopes in my eyes and the zeal to achieve something big. Pune, a new world was waiting for me. The journey was not only for the higher education, it has taught me the ups and downs of life, showed me the reality of life. There started my journey to Post Graduate Diploma in Management (PGDM) with 2 months of induction programme, which

covered every aspect of education including interaction with corporate leaders, cultural events, sports, presentations and so on. After the two-month programme, my journey in the field of academics began. We had professors, who were corporate leaders, providing us a sneak peek into the real corporate world. Learning became interesting with their anecdotes and knowledge about their work. I was pursuing my post-graduation in the field of Operations and Supply Chain Management along with 27 other engineers. This came as a big challenge for me as I was the only girl who chose this specialisation. I was in a complete dilemma with friends and family disagreeing to this step of mine. However, this inspired me to take it up with worlds ringing in my ears, “I can do it and I will do it.” It was not an easy decision. I was criticised for my decision often. What began as “Look, she is that girl in operations…” from my fellow batch-mates slowly changed to, “Great, she is the one.” I knew with hard work, I would be able to change their thinking and I did. My classmates encouraged me and made me comfortable. Today, they are a part of my success. During this phase, I got an opportunity to work as an intern in one of the top logistics firms. The two months of internship taught me a lot about the operations’ world in a company, the reality of women working in the shop floor of a production line. I completed my internship with appreciation from my seniors and much knowledge. In a blink of the eye, the first year of my PG was successfully completed. It was my second year and the placement season was gathering pace. I was targeting my dream company, waiting eagerly for the organisation to come for campus placements. I was completed excited. I, along with my classmates, began preparing for the placements studying hard, sharing knowledge and practice aptitude, holding group discussions in our non-working hours and reading newspapers every morning. It was November 10, 2014 and the day I had to sit for my dream company. I was a bit nervous. The company’s selection process began with a group discussion on the topic - Is Social Media a boon or a bane? The discussion went on smoothly. I cleared the group discussion round and went ahead for the technical interview. Some of the questions posed on me during the technical interview were: l Why did you pursue PGDM after Engineering?

“I was criticised for my decision often. What began as “Look, she is that girl in operations…” from my fellow batch-mates slowly changed to, “Great, she is the one.”

l Why did you opt for Operations management? l As a woman and l As a specialisation l Questions on my internship project l Questions in the field of MRP l Questions in the field of Inventory Management l Couple of case studies I felt the panel was testing my patience and wanted to know my opinion through my answers as they were posing the same question repeatedly in different ways to confuse me. I gave honest replies and cleared the technical interview process. I entered the final round which was the HR interview. In this round, they asked questions like: Tell us about yourself and your family, hobbies

l Your strengths and weaknesses l Why our organisation? l Where do you see yourself in our

organisation in the next few years? The interview went well. It was time to know the results, to be with the company I had wished to work all my life. I was very nervous. The results were announced and I was selected. Tears rolled down my cheeks, all my friends came to me with big cheers. This was the happiest moment of my life. There is something that I would like to suggest my juniors and it is that “believe in work not in luck, your efforts will never go waste”. I would also like to thank every individual who were part of my life and success, especially my B-school, which taught me and prepared me for the corporate world.

January 1-15, 2015 / Corporate Citizen / 63

10 bollywoodbiz

Richest Actors in the world today

When it comes to career options, most people would not consider acting as a serious profession. For some, the odds of becoming successful may seem slim and for most, it simply would not seem lucrative enough. Itâ&#x20AC;&#x2122;s time that we put these myths to rest. Successful actors donâ&#x20AC;&#x2122;t just earn money, they do so by the truckloads. Corporate Citizen brings out a list of 10 richest actors in the word, along with their jaw-dropping net worth. By Neeraj Varty

Shahrukh Khan

` 3,720 cr

Shah Rukh Khan is not just the King Khan of Bollywood, he is also the second richest actor in the world and the only Indian actor on the list. His career spans over two decades and more than 50 hit films, and it seems he only gets more and more popular with age. SRK is also a very savvy businessman, having a production house and several properties in his name. He is also the top choice for endorsements in India, a testament that his 3,720 cr fortune is no fluke.

64 / Corporate Citizen / January 1-15, 2015

Jerry Seinfeld ` 5,000 Cr

Turino and Letters from Iwo Jima have made him a force to reckon with. With Rs 2,300 cr in the bank, Eastwood has sure done well over the years.

Jerry Seinfeld is not just the richest actor in the world. He is the richest actor to have never acted in films. His eponymously titled show Seinfeld is essentially the most successful television project in history. Even after two decades after its debut, the show rakes in over Rs 1,250 cr a year, just in syndication. With just one show and a take home of Rs 5,000 cr , Jerry Seinfeld is happy to hang up his boots and walk in the sunset.

Tom Cruise ` 3,100 cr

For everyone’s favourite action star, nothing is Mission Impossible, not ever becoming the 3rd richest actor in the world. Even two decades after making his debut, Cruise remains one of the most bankable actors in the world, with an average gross of Rs 1,200 cr per movie.

Tyler Perry ` 2,500 cr

There seems to be nothing this actor-director-screenwriterproducer-author and songwriter can’t do. In the year 2010-2011 alone, Perry earned a salary of 800 cr, making him one of the highest paid individuals in entertainment. At a total net worth of Rs 2,500 cr, Tyler Perry makes it to number 4 on our list.

Jerry Seinfeld

Jack Nicholson ` 2,500 cr

Tom Cruice Tyler Perry

Jack Nicholson

Client Eastwood Bill Cosby Johnny Depp

Tom Hanks ` 2,168 cr

Bill Cosby ` 2,165 cr

In 2012, Johnny Depp entered the Guinness Book of World Records as the highest paid actor in the world. His movies have printed over $7.6 Billion worldwide at the Box Office and he has no plans of stopping now. Franchises such as Pirates of the Caribbean ensure that he will earn his spot on this list several years in a row.

At 76 years, Bill Cosby has had one of the longest comedy careers in history. His signature project, the Bill Cosby show, was America’s top show for five straight years. Add another 7 Grammy-winning comedy albums to his name, and it’s not a surprise that he is now worth Rs 2,165 cr.

Adam Sandler ` 1,850 cr

For an actor who mostly does comedy, Adam Sandler has earned some serious money. While most of his films earn average, his own productions such as The Wedding Singer, The Water Boy and Grown Ups 2 have made over a billion dollars, pushing his net worth to a cool Rs 1,850 cr. (Source: Forbes Business Magazine)

Clint Eastwood ` 2,300 cr

Clint Eastwood is everyone’s favourite cowboy. This king of Westerns has dominated the big screen since the 1950s. His recent turn as a director in critically acclaimed movies such as Gran

Johnny Depp ` 2,170 cr

Tom Hanks is one of the most prolific actors in the world today. From his astounding role in Forest Gump to his animated laugh riot act in Toy Story, this two time Oscar winner has captured hearts worldwide. His films have grossed over $8 Billion globally and he earns a welldeserved spot at number 8 on our list.

There has never been an actor with such a flair for playing psychopathic characters as Jack Nicholson. His captivating performances in The Shining and Batman mesmerise audiences even now. He has a record 12 nominations and 3 Oscar wins.

Tom Hanks

Adam Sandler

neeraj.varty@corporatecitizen.com

January 1-15, 2015 / Corporate Citizen / 65

health

Fist Bump-IN Handshake-OUT

New scientific research advocates fist bumping for health reasons. They discourage handshakes to reduce the spread of infection By Sangeeta Ghosh Dastidar

he ubiquitous handshake, as a globally acceptable corporate and cultural greeting, has persistently been brought under the physician’s scanner. The power of this age old tradition of hand-to-hand contact between individuals via handshakes is up for further threat as results from a new scientific study conveys that ‘fist bumping’ is a better option for infection control over ‘high-fiving’ or handshakes. The ancient custom of handshakes as a non-verbal communication code finds its origins in Greek legend as a ‘gift’ bestowed by God. But the evolution of the ‘handshake’ from its medieval beginnings as a gesture of peace between warring clans to its current cultural status in business and politics is now being questioned by healthcare

experts. Two scientific theories published recently in international medical journals bring forth the need to seek alternate greeting rituals to ward off threat of infections caused by handshakes or physical hand-contact between doctors and patients. A study published in the August 2014 issue of the American Journal of Infection Control, the official publication of the Association for Professionals in Infection Control and Epidemiology (APIC), probed alternative forms of greeting techniques to understand and help prevent infections through hand contact. In this study, conducted by the Institute of Biological, Environmental, and Rural Sciences at Aberystwyth University, U.K., researchers tried to understand and determine the impact of substituting a

66 / Corporate Citizen / January 1-15, 2015

handshake with other forms of greeting techniques to contain transmitting of germs.

Science, Health and ‘Hand’ Hygiene

Another article, published in the June 2014 issue of Journal of the American Medical Association (JAMA) too has appealed to ban handshakes from hospital environments. The conclusion is based on identifying and recognising the ‘hand’ as a vector that spreads infection. It seeks measures to minimise hand contact in hospitals and healthcare centres for disease prevention. This definitely is an irony where doctors and patients depend on hand contact for healing. While hand contact has often garnered comfort and calm in medical and socially vulnerable health scenarios, it is a pity to do away with this gesture

Some Global Handshakes  China: A vigorous but pumping handshake is the norm.  Europe: Shaking hands is most acceptable, but it is preferred if you met someone whom you know well enough.  France: Handshakes are restricted to business, kissing the cheeks is the norm for informal greeting.  India: Traditional handshakes involve grasping both palms of an individual’s hands in their own, but holding them for brief interval.  Japan: Handshakes accepted, but culturally, a bow is more acceptable.  Kuwait: Handshakes acceptable for the menfolk especially when they meet strangers for the first time. Shaking hands with unrelated womenfolk is considered inappropriate.  South Africa: Commonly, a good forearm handshake grip is appreciated.

In an attempt to ward off contracting or spreading infection, can we imagine the social, political and financial risk of replacing the timeworn ‘handshake’ with physical attributes of fist and elbow bumping? as a healing parameter. However, the JAMA study has towed on the thin comforting line that differentiates a compassionate touch between doctors and their patients to an ‘act’ that threatens health itself. The handshake, currently under the preview of the medical fraternity, might be tagged with further impending policies based on such findings, to completely ban this social ‘gesture’ from hospital settings. The JAMA paper is based on facts gathered from multiple studies done in the past which confirm that healthcare workers do get contaminated with pathogens from their patients and are victims of further crosscontamination through ‘hand’ contact causing infection. Study parameters and experiments also point to a form of bacteria, Clostridium difficle spores, commonly causing diarrhoea in healthcare centres as one of culprits that is

transmitted via hand contact. The worrying factor is that the impact of this bacterial species is more prolonged in the mucus generated in respiratory disorders; especially when transmitted via handshakes.

Corporate lessons beyond books

Fist Bumping, or Handshakes?

Soar like an eagle, don’t wobble like a duck: stretch beyond yourself to give your best at workplace

As reported, David Whitworth, corresponding author of the Aberystwyth University study said, “Adoption of the fist bump as a greeting could substantially reduce the transmission of infectious diseases between individuals.” He further noted that while it is unlikely that a ‘no-contact’ greeting such as the fist bump could replace the warmth of a handshake, it is imperative to consider doing away with this age old tradition to improve public health. With rising antibiotic resistance and the escalation of the superbug Methicillin-resistant Staphylococcus aureus (MRSA) threatening medical boundaries of treatment and cure, such studies could perhaps be educational in containing the spread of infections through physical contact.

Real or Virtual Design

However, in an attempt to ward off contracting or spreading infection, can we imagine the social, political and financial risk of replacing the time-worn ‘handshake’ with physical attributes of fist and elbow bumping? Can we ever imagine sports events where sportspersons do not acknowledge each other with the customary handshake? Imagine the misconception that would be caused due to a slight ‘nod’ of the head, or a gentle bow when it is read beyond context? For the virtual world, an emoticon could just be the answer to all your intentions of communication – handshakes or not. Whether this paves the way for fist or elbow bumping in reality is best left to your home physician! sangeetagd2010@gmail.com

No one can make you serve customers well. That’s because great service is a choice. Harvey Mackay, tells a wonderful story about a cab driver that proved this point. He was waiting in line for a ride at the airport. When a cab pulled up, the first thing Harvey noticed was that the taxi was polished to a bright shine. Smartly dressed in a white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for Harvey. He handed my friend a laminated card and said: ‘I’m Wally, your driver. While I’m loading your bags in the trunk I’d like you to read my mission statement.’ Taken aback, Harvey read the card. It said: Wally’s Mission Statement: To get my customers to their destination in the quickest, safest and cheapest way possible in a friendly environment. This blew Harvey away. Especially when he noticed that the inside of the cab matched the outside. Spotlessly clean! As he slid behind the wheel, Wally said, ‘Would you like a cup of coffee? I have a thermos of regular and one of decaf.’ My friend said jokingly, ‘No, I’d prefer a soft drink.’ Wally smiled and said, ‘No problem. I have a cooler up front with regular and Diet Coke, and water.’’ Almost stuttering, Harvey said, ‘I’ll take a Diet Coke.’ Handing him his drink, Wally said, ‘If you’d like something to read, I have The Wall Street Journal, Time, Sports Illustrated and USA Today.’ As they were pulling away, Wally handed my friend another

laminated card, ‘These are the stations I get and the music they play, if you’d like to listen to the radio.’ Then he advised Harvey of the best route to his destination for that time of day. He also let him know that he’d be happy to chat and tell him about some of the sights or, if Harvey preferred, to leave him with his own thoughts. ‘Tell me, Wally,’ my amazed friend asked the driver, ‘have you always served customers like this?’ Wally, the Cab Driver, made a different choice. He decided to stop quacking like ducks and start soaring like eagles. How about us? Smile, and the whole world smiles with you... Ducks Quack, Eagles Soar (Courtesy:http:// deepsm25.wordpress. com/2008/07/26/ducks-quackeagles-soar/)

January 1-15, 2015 / Corporate Citizen / 67

68 / Corporate Citizen / January 1-15, 2015

pearls of wisdom

There are no stumbling blocks, only stepping stones

ne day, I visited a school in Edinburgh and was introduced to a young man named Sean. He was blind and had cerebral palsy so he couldn’t see, or move about independently. He was asked to show me how his new powered wheelchair worked, so he set off on his own around the school. The wheelchair had a laser beam at the bottom that followed a track from his classroom to the dining room and other areas. He returned to a thunderous applause from his friends. On the way out, his physiotherapist thanked the Whizz Kidz and me for helping to change Sean’s life. Then she said softly that it had taken her two years to show him how to manage the controls to move the wheelchair backward and forward. She gave me a hug and left. And I just sat in my car alone, crying and deeply humbled. -Mike Dickson, Founder of Whizz Kidz, an NGO People nowadays demand ‘formulae’ for everything; a formula for making money on the stock exchange, a formula for becoming rich quickly, a formula for becoming a millionaire without delay, etc. The truth is that I don’t know if there is a formula to make money. I am talking about a formula for prosperity. And in my view, the two are not the same!

I don’t know if there is a formula to make money. I am talking about a formula for prosperity. And in my view, the two are not the same! – Dada Vaswani

Let me share with you some of my views on prosperity: l We cannot equate happiness and success with material possessions. l A ‘millionaire’ is not always the most contented man. l Peace of mind and self-fulfillment are far more valuable than money. l Prosperity is all about self-fulfillment. l Power, position and fame do not constitute prosperity; nor do they bring happi-

ness with them. l The greatest wealth is good health. l Good fortune - and all amassed fortune is meant for sharing. l He who gives lives. He who does not give is no better than a dead soul. l Honesty is the best policy. l There are situations which compel us to do certain things. We have no choice but we can always choose how to do them. l In adversity, your best friend is a calm mind. l The road that leads to the heights of greatness is often paved with thorns. l If you would be great, you must be prepared to suffer greatly. l Never, never, never give up. Keep trying. You fail only when you give up trying. l There are no stumbling blocks. There are only stepping stones. l Refuse to accept anything but the best and, by God’s grace, you will get it! Let’s play a game… Suppose for a minute that today is the last day of your life. You are told on this last day to make a list of all the things in your life that have made you truly happy. What would you put down on that list knowing that you only have a few hours left to live? I can safely bet that your car, your bungalow, your farmhouse, your bank account, your stocks and shares will not find a place on that list. What you are sure to put on it would be the most fundamental elements of a truly happy, contented life – your love for God, your love for your family and friends, the warmth and the affection your dear ones showered on you, the kindness you received from others and the kindness you have shown to other people. Is this not true abundance? Is this not prosperity in the best sense of the term?

January 1-15, 2015 / Corporate Citizen / 69

manage money In the previous issue we had discussed what a Profit & Loss Account is, what it contains. In this article let me dwell a bit on the Balance Sheet. By Dr Anil Lamba

Understanding a Balance Sheet

Balance Sheet is a financial statement that lists out an organisation’s Assets and Liabilities. Liabilities, as the name suggests, constitute what you owe. When a business needs money, it borrows. It either borrows from the owners of the business, in which case it is called Capital, or it borrows from outsiders, in which case it is a Loan. Both the owners’ as well as the lenders’ contributions are reflected on the liabilities side of the Balance Sheet. Other liabilities include creditors, and the amounts payable to suppliers and vendors. Assets, on the other hand, represent what you own, or the things that you have purchased by spending the money that you have borrowed (which appears on the Liabilities side). Typical assets will include investments in land, buildings, machinery, vehicles, computers, tools, etc. These appear as Fixed Assets. The second category of assets is called Current Assets. If creditors are liabilities, then debtors are assets. If a bank overdraft is a liability, money lying in the bank is an asset. An important asset for manufacturing and trading companies is their Inventory. All these items appear in a Balance Sheet under the heading Current Assets.

To read a Balance Sheet must you also know how to make it?

In fact, I can actually teach you how to make a Balance Sheet[1] in about three minutes

A compressed version of accounts is presented in the form of two financial statements. One is called Profit and Loss Account and the other Balance Sheet

An organisation has a continuous stream of commercial activity with materials coming in, goods being processed, expenses incurred, sales made, equipment purchased, salaries paid, money borrowed, and so on. It is a legal requirement that every organisation should prepare a Profit and Loss Account and a Balance Sheet at least once in a year. But for a clearer understanding of the state of the business, Balance Sheets should be made and studied far more frequently, perhaps every month or even every week. Evaluating the financial health of a business by understanding and reading its Balance Sheet is an essential skill for all key persons in an organisation. But is it also necessary that they should know how to make these statements? In an organisation, it is the responsibility of the accountants to prepare the financial statements. However, all who are in charge of running and managing the business, beginning with the owner, the President, and the CEO, must know how to read these statements. There cannot be a CEO who can afford to say, “I do not need to know how to read a Balance Sheet!” CEOs who 70 / Corporate Citizen / January 1-15, 2015

say so are either not going to remain CEOs for long, or the organisations they lead are not going to remain in existence for long. The sooner the realisation sets in that the ability to read financial statements is a must for successful running of a business enterprise, the better for all involved with the organization! A common misconception is that in order to learn how to read Balance Sheets, one must also know how to make them. This is not true at all. It is quite possible to learn to read, interpret and understand Balance Sheets without knowing how they are made. While everyone who is expected to read a Balance Sheet need not know how to prepare one, it’s really not as difficult as many fear that it might be.

Perhaps you believe that it would take much longer than three minutes to learn the art and science of book-keeping and making financial statements. In fact, it takes several years if you learn the conventional way. But what I am teaching you is not the conventional method. I’m going to show you a far shorter one, in which we will eliminate the book-keeping and directly prepare these statements using an extremely simple common sense technique.

But first let us answer a few questions:

Where does all the data that goes into the Profit and Loss Account and the Balance Sheet come from? It is, of course, contained in the accounting records of the organisation. What exactly do accounting records record? Or in other words, how would you define accounts? The accounts for a particular period are simply a record of all transactions with a financial implication that have taken place in the organisation during that period. When do we say a transaction has a financial implication? Any transaction which either brings money in or takes money out of an organisation can be considered a financial transaction. Sometimes, money may not come in or go out and this may still be a financial transaction, because at the end of the transaction, either money becomes due to you from someone else or by you to someone else. In every organisation, there is someone called an accountant whose job it is to keep track of such transactions and record them. A collection of such records are called accounts. Dr Anil Lamba is a practising Chartered Accountant, financial literacy activist, a corporate trainer and author of the bestselling book Romancing the Balance Sheet. He can be contacted at anil@lamconschool.com

book review

Practical Fundas The format of the book is one of its USPs – putting forth a standpoint, and illustrating it with live examples of successful people here and now. Slices of biography, genesis of well-known businesses, anecdotes, human touches, all real-life lore, make it all the more invaluable

n the book ‘No Holy Cows In Business’ by Kiran Bhat and Sekhar Seshan, the authors spell out nine no-nonsense principles of entrepreneurship. Ranging from ‘love what you do’ to ‘get financial literacy’, ‘add a new revenue stream’ ‘keep costs under control’ or ‘enroll key people’, to even ‘pull the plug when it does not make sense’, each of the principles extolled are not lofty sentiments, but everyday commonsense statements, some you may have heard before, some that hit you in the face, illustrated with live examples from the industry. The principles apply to both entrepreneurs in the making, and who have already taken the plunge and are now swimming. How skillfully they swim and reach their destinations will depend on how they work these principles. The book can help sharpen their thinking to reinforce and consolidate the useful, and shed the detrimental. There are interesting observations too. Harshvardhan Neotia, chairman of the Ambuja Neotia group defines success as “…the ability to get joy out of your work,” while Kiran defines value as “that which is not asked, not expected, not contracted but that which is delivered …. delighting the receiver.” The book abounds in practical, down to earth, pithy fundas, wisdom from seasoned entrepreneurs that an aspiring entrepreneur can imbibe. The format of the book is one of its USPs – putting forth a standpoint, and illustrating it with live examples of successful people here and now. Sekhar’s vast network of business heads he has met during his journalistic career would have come in very handy. For every principle of entrepreneurship put forth by Kiran, he has a ready bank of people it can relate to, making this book most interesting and ‘enterprising’ with case studies from the Indian context. There is that much more immediacy about it. Often, the format lends itself to the unexpected: The story of an individual’s fascination with the

No Holy Cows In Business Author: Kiran Bhat and Sekhar Seshan Publishers:Vishwakarma Publications Pages: 147 Price: Rs 200 Book Review: Usha Somayaji

Sunderbans; or another’s passion for good wine, and, hold your breath, running! Or why yet another set up a bookstore in a cinema hall thus unfolding the legend of the Strand. Or the saga of the first indigenous Indian tractor, conceived and introduced….The book shifts from a robust ‘how to’ and ‘why to’ to an anecdotal and biographic narrative, or even a plain Q&A session quite seamlessly, cutting off any chance of monotony. All this makes for quite interesting reading, unbridling the book from being a pure management treatise. Slices of biography, genesis of well-known businesses, anecdotes, human touches, all real-life lore, make it all the more invaluable. The only ‘minus’ you can pick on would be the packaging. The cover is enticing enough. Within the covers the ‘look’ could be more slick and contemporary, and with better quality photograph reproduction -- to benchmark with the best. ushasomayaji@gmail.com January 1-15, 2015 / Corporate Citizen / 71

food

Delhi’s Parantha Lane

A true culinary delight beckons at the famous Paranthe Wali Gali in the by lanes of Old Delhi, where the tradition of cooking delectable paranthas with exotic stuffing has prevailed from as far back as 1872. The variety has expanded, but the process has not changed, nor the lure of these enticing flatbreads.

By Swati Kumari

ave breakfast like a king, lunch like a prince, dinner like a pauper!” We are familiar with this mantra. And in India, what defines ‘kingship’ is the variety of stuffed flatbreads (paranthas) available for the Indian palate. These paranthas have made up most of our childhood, the taste still lingering in our mouths and still hold their own despite the entry of a litany of western dishes. Detour a bit from a health conscious routine occasionally to try out a true culinary experience with paranthe from the Paranthe Wali Gali or the lane of stuffed flatbreads, tucked away in the lanes and mazes of Old Delhi.

72 / Corporate Citizen / January 1-15, 2015

History

For long since1650, this market predominantly had shops selling silver goods. This area was known by many names like Chota Dariba or Dariba Kalan before it finally came to be known as the ‘Paranthe Wali Gali’. In 1872, the first parantha shop was set up by Pandit Gaya Prasad Shiv Charan. Initially, the parantha shop was a single establishment but later, following a family feud, the shop was divided. Until the recent past, the Gali had over 10 to 12 parantha shops, but today, there are only a couple of them. “My family has been selling paranthas here for five generations and I am proud to carry forward this family legacy. Even a few of my staff members have been making

paranthas generation after generation for us,” says Manish Sharma with pride. “I will sell paranthas till the time I can, but I am not sure if my son would be ready to stand in this heat and take forward this heritage,” he adds. Without laying claim to any upmarket feel, the shop can yet boast of its association with famous personalities – with photographs of Jawaharlal Nehru, Indira Gandhi and freedom fighters during the pre-independence period lining its walls. .

Just a walk down Chandni Chowk Metro station, the two-metre-wide lane is absolutely packed with shopaholics. It seems even warmer than the 40 degree Celsius it actually is as these shops have pans full of boiling-hot oil at the front of the shop, in which they cook the paranthas

Pic Credit: The Indian Express

Food

Just a walk down Chandni Chowk Metro station, the two-metre-wide lane is absolutely packed with shopaholics. It seems even warmer than the 40°C it actually is, as these shops have pans full of boiling-hot oil at the front of the shop, in which they cook the paranthas. “The main season for selling paranthas is winter as people prefer to have hot paranthas in cold weather. We sell from around 200 pieces a day in the summer to as many as 700 per day in winter,” reveals Sharma. Almost no vegetable has been spared for use in the parantha stuffing. The platters include exotic fillings like kaju, badam, rabri, khoya parantha, papad parantha, green mirch, nimbu, etc. At the family-run eatery, customers line up for flatbreads and workers are busy rolling wheat dough balls filled with the chosen stuffing on a large marble slab, which are then fried in ghee on a coal stove. The process has remained just the way it was when the shop started. “We haven’t changed the style of cooking, but while we started with four paranthas on our menu, we now have 25 types to woo the customers. The price of course, which used to be one anna initially, now ranges from Rs 45 to Rs 60 per parantha,” avers Sharma. The eatery is always crowded with customers - be it families, bachelors or travellers coming for the special delicacy. “Even being diet conscious, it’s fine to have these oily paranthas once in a while. My favourite being the Rabriparantha. I try and visit the Gali whenever I am in the vicinity to relish these lip-smacking breads,” says Manish Aggarwal, a college-goer. The side dishes that accompany are potato and peas curry, potato methi mix, tangy tamarind chutney with banana, mint chutney and mounds of colourful carrot and radish pickle, which are equally delicious and complement the paranthas very well. To end your meal on a sweet note, make sure you wash down those greasy paranthas with sweet lassi served in traditional kulhars from the shop across the road. swatikumari@gmail.com

January 1-15, 2015 / Corporate Citizen / 73

mobile apps

Top 5 Personal Finance Apps For Android Users Budget management is easier said than done. Setting a budget is not a tough task but sticking to it can become one of the most daunting tasks. Managing budget can not only help save your hard-earned money but will also help you get the most out of the available resources without burning a hole in your pocket. By Anand Karwa

ortunately, the Google Play App Store has quite a lot of finance management apps which you can use to keep track of all your financial moves. These Android apps, which will even show a warning message when you are overstepping your preset budget, and will also remind you to deposit a bill. Though the Play Store offers numerous apps for finance management, we are listing down the best of them.

 Walnut

This is probably one of the best finance management apps for lazy people. It automatically scans the text messages coming from banks and merchants and updates the expenditure list. The user doesn’t have to do anything as everything is automated. On the privacy note, it only searches for keywords in messages received from merchants and banks and doesn’t analyse messages received from a 10 digit number. The best part about Walnut is that it doesn’t have to be connected to your bank account or your card for managing your expenditure.

payments, etc. The user can also choose to save the photos of bills and receipts on either the internal or external memory (micro SD card) for future reference. The app also allows users to set up multiple accounts and use various built-in tools like currency converter, tax calculator, etc.

Some of the must-have Android apps for keeping you personal finance in complete control

 Expense Manager This app comes in two versionspro and free and allows users to manage expenses and income by sorting them out on a daily, weekly, monthly and annual basis, according to your choice. You can also view the budget for various categories, take photos of receipts, schedule bill payments, setup alerts for various bills and

74 / Corporate Citizen / January 1-15, 2015

 Money Lover

This app allows managing the expenditure in a much easier way by offering options to add daily transactions, specifying the budget for each category like food, fuel, entertainment, shopping, etc. It also alerts the user with a warning message when he is about to exceed his budget for a particular category. This makes him think twice before spending or cut down on the next purchase/movie ticket. Like other apps, it also reminds the user for bill payments. Money lover also allows the user to feed his salary or money at hand into the app and then add the expenditure that he makes to this list for knowing how well he is at managing the funds.

 Financius Expense Manager

This is more than just a simple expense management app and offers some additional features like managing credit and debit cards too. It not only allows users to manage debit/ credit cards but also allows for automatic fund transfer between assets for optimal utilisation of the resources at hand. It comes with passcode support for keeping all the confidential data secure, has an in-built calculator, bookmark function and the ability to take a data backups.

 ToshI Finance Budget & Expense

It is an extremely simple-to-use personal finance app, and is one of the best available personal finance apps. It allows users to organise their expenses in a very efficient manner while allowing them to keep track of their expenses. The app also lets the users find out how they are spending their money by setting up budgets. The app also gives regular reminders about bill payments and also gives options to set-up daily, weekly, monthly or even annual budgets while taking care of recurring expenses. These are some of the top 5 personal finance apps that work in India. If you stay or work outside India, then you should also give Intuit’s Mint.com Personal Finance a try. karwa.anand@ outlook.com

innovation

Mumbai start-up creates

A Portable Washing Machine For Just Rs 1,500

Piyush Agarwalla, who hold a Master’s Degree from De Nobili, Digwadih, got the inspiration for creating this portable washing machine from his mother when she was on her death bed. She told him that it would be better if he could make money while doing something for the economically weaker section of the society. These words had a deep impact on him and it was after her death that he started to brainstorm ideas where he could make money while helping the poor. “It was by chance that I came across an article by Prof. Rosling who had done a study on effects of women washing clothes by hand,” he acknowledged By Anand Karwa

iyush Agarwalla, founder of Mumbai-based startup Vimbas Navrachna started out with one aim in mind, ‘When technology meets common man, world prospers.’ Vimbas Navrachna aims to launch a fully functional portable mini washing machine costing just Rs. 1,500. To raise funds for commercial manufacturing of ‘Econowash’ (previously known as Venus), Vimbas Navrachna has taken crowd-funding route. They have launched a campaign at IndieGoGo.com (popular crowdfunding site) targeting a raise of $50,000. The funds will help them in mass producing Econowash and bring it to market at pre-decided price tag of Rs 1,500. At the time of writing, they had raised a total of $4,155 out of $50,000 goal. You too can be part of this crowdfunding campaign. Piyush said, “The simplicity of design will enable us to make this machine at a very low price if mass manufactured.” They are selling the machine for Rs. 2,500 currently, but plan to bring the price point as close to Rs. 1,500 as possible after achieving their fund raising target. The Econowash will not only help the poor women who have to wash the clothes by hand, but will also prove to be highly useful to bachelors, students living in hostels and also to salesmen who travel a lot.

Why Use Econowash?

You can use Econowash for washing your clothes in various situations even if you have a fully-automatic washing machine at your

Technical Specifications Voltage: 230 V

home.

Power: 350 W

Here are some of those scenarios:

 You can use Econowash for washing dirty clothes like the ones you use for mopping and for dusting. It would be a bad idea to wash such clothes alongside your regular clothes in your washing machine.  For washing clothes of infants, small children, and of someone suffering from a contagious disease.  Washing clothes, which you suspect will shed their colours.

Weight 2.1 Kg (basic unit)

Future Plan

Package Contents Basic unit, Bucket Clamps

After they achieve the funding target required for mass producing the machine, Vimbas Navrachna plans to make Econowash truly portable by fitting it with DC motor so that it can run off a battery supply too.

Easy Maintenance

Econowash is made up of a few parts and can be easily repaired by any trained electrician. No formal or specialised training is required to repair the machine. Users on the other hand should ensure that they neither drop nor overload the machine. The machine can be mounted to any bucket ranging from 15 litres to 25 litres in capacity using the provided

Capacity: 2.5 Kg Dimenions (LxWxH) 100x150x420 Wash Cycle 3 to 5 minutes (approx.)

bucket clamps. This portable washing machine holds huge potential, especially in the underdeveloped and developing countries, where a significant portion of their population cannot afford even a semi-automatic washing machine. “The machine can safely be used by children as well. The entire machine is housed in a non-conducting plastic material. The part that immerses in water does not have any electrical component or wires,” said Piyush Agarwalla, founder of Vimbas Navrachna. karwa.anand@outlook.com

With a goal of placing a ‘washing machine in every household’ and with a vision of ‘when technology meets common man, the world prospers’, a Mumbai based star-tup is aiming to offer fully functional, portable washing machines for only Rs 1,500 January 1-15, 2015 / Corporate Citizen / 75

astroturf they concentrate on what they need and wish to achieve.

VIRGO

Fortune favours the bold and the lucky

Your attitude is your altitude says Dolly Mangat our renowned Astrological Expert and believes she helps people create their own prophecies rather than live predictions

Aries

Mar 21- April 20 Though your health remains strong and energy levels are high, yet you need to take care of niggling problems that keep arising every now and then. Make the best use of this period plan and start working towards laying foundations for your future. Your entire body needs a detox, yoga and massages will do you a world of good. Career advancement and success is seen.

TAURUS

April 21 - May 20 Though over all you will experience much improvement in your personal as well as professional life, yet you need to keep focusing on your family and love life. It is good that you have weeded out the worthy from mediocre in your career so that focusing on your professional growth becomes easier. You are experiencing changes in and around you, but these are happening for the better, so stay positive.

GEMINI

May 21 - June 21 The focus should be on your career more than social life as the year

draws to a close. Achieve your goals through consensus and cooperation. Though you are confident of your personal skills, remember that popularity or likeability factor is equally important if you are wanting to climb the ladder of professional success. If you feel that there are uncomfortable conditions, try and adapt or adjust to the best you can do and not make changes.

CANCER

Jun 22 - July 23 Time to focus on other people and your loved ones. Self interests needs to be kept at bay. The demand of this month is not to try and change circumstances but to adapt yourself to the existing circumstances or situations. Health needs attention after the 22nd of this month, get your yearly check-ups done and do not hesitate to undergo any kind of medical therapy.

LEO

July 24 - Aug 23 You are strongly embedded in your personal pleasure peak. Networking for work enhancement is fine but just whiling away precious time partying is baseless. Learn to shift the chaff from the grain. Job seekers have great success now especially if

76 / Corporate Citizen / January 1-15, 2015

Aug 24 - Sept 23 This is the month for making psychological progress and for coming to terms with your past. You will be baffled with strong old memories. The cosmos has a reason to shake you up with memories. In the light of your present knowledge, you either need to rectify the wrongs done or to justify. Redefine your own self if you want to progress in every way than you already are.

LIBRA

Sept 24 - Oct 22 You are in a period for building up the inner forces for the next outward career push. Focusing on the personal front is also of paramount importance this month. Unless and until your personal clutter is not cleansed, you may not be able to build a strong professional front. Mediation, prayer, visualisation hold a great deal of importance as you will be able to achieve all your goals.

SCORPIO

Oct 23 - Nov 22 Career looks good and successful; invest your energies into work or your finances. It’s a prosperous month for you and you will be able to reap rich benefits. Concentrate on fact gathering for attaining mental clarity and for exploring ways to improve your life. The truth of your life at the moment is that by shifting things around, you will be able to have all the resources you need.

SAGITTARIUS

Nov 23 - Dec 22 Communications with loved ones have been patchy. Ensure that you look into their needs,

giving financial help is not enough. They need your time and energy too. Continue to drive carefully and defensively. Look into your health needs and work towards building a solid foundation for your mental health by delving into the world of meditations and deep breathing techniques. Perfect time to work on your inner and outer growth for this is a period of manifestations.

CAPRICORN

Dec 23 - Jan 20 You will have to make certain adjustments in your world and probably seek space from those who are close to you. Explaining to them your need will help you avoid misunderstandings. Your mental strength will be strong and you will be able to achieve all what you set your mind on. The cosmic power is moving towards supporting you in every which way. This is the time to pamper yourself and enjoy yourself in every way.

AQUARIUS

Jan 21 - Feb19 This is a year of personal independence, so take responsibility and do what your heart desires and mind dictates. You can and should have things done your way. Choose happiness and listen to your inner voice. You will experience a kind of euphoria and déjà vu experience, where fast progress is seen towards your goals. Marriage/relationships are heading towards harmonious trends, so just enjoy.

PISCES

Feb 20 - Mar 20 Career becomes more demanding, your performance gets appreciated and a rise in status is seen. Your bosses could be more stricter than before. Be patient, calm & focus on your job. Health remains good though any kind of niggling problems shouldn’t be kept in the backburner.

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featherlite

Corporate Twitterati Kiran Mazumdar Shaw @kiranshaw India ranks 42 in #Internet freedom. Although, the growth is commendable but more needs to be done Captain Gopinath @ CaptainGopinath Trigger a change in the virtues of Indian Politics to Performance, Responsiblity and Accountablity Nandan Nilekani @NandanNilekani In a universe of a 100 mn galaxies, we humans are a speck. Yet we try to understand the universe Ronnie Screwvala @ RonnieScrewvala What’s best about today’s market is the amount of dynamism and possibilities it offers for entrepreneurs Uday Kotak @udaykotak Savers in India talk less and vote on their feet. Borrowers must make less noise and work hard to reduce risk premium on their cost of funds Kiran Bedi @thekiranbedi We go to Australia to be a part of a fellow cricketer’s demise. But back home we dump our martyrs clothing in dustbins! #MartyrsInsulted Compiled by Neeraj Varty

Laugh Aloud A young businessman had just started his own firm. He rented a beautiful office and had it furnished with antiques. Sitting there, he saw a man come into the outer office. Wishing to appear the hot shot, the businessman picked up the phone and started to pretend he had a big deal working. He threw huge figures around and made giant commitments. Finally he hung up and asked the visitor, “Can I help you?” The man said, “Yeah, I’ve come to activate your phone lines.” A local United Way office realized that the organization had never received a donation from the town’s most successful lawyer. The person in charge of contributions called him to persuade him to contribute. “Our research shows that out of a yearly income of at least $500,000, you did not give a penny to charity. Wouldn’t you like to give back to the community in some way?” The lawyer mulled this over for a moment and replied, “First, did your research also show that my mother is dying after a long illness, and has medical bills that are several times her annual income?” Embarrassed, the United Way rep mumbled, “Um, no.” The lawyer interrupts, “Or that my brother, a disabled veteran, is blind and confined to a wheelchair?” The stricken United Way rep began to stammer out an apology, but was interrupted again. “Or that my sister’s husband died in a traffic accident,” the lawyer’s voice rising in indignation, “leaving her penniless with three children?!” The humiliated United Way rep, completely beaten, said simply, “I had no idea.” On a roll, the lawyer cut him off once again, “So if I don’t give any money to them, why should I give any to you?” Reaching the end of a job interview, the human resources person asked a young engineer fresh out of MIT, “And what starting salary were you looking for?” The engineer said, “In the neighborhood of $125,000 a year, depending on the benefits package.” The interviewer said, “Well, what would you say to a package of 5-weeks vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50% of salary, and a company car leased every 2 years – say, a red Corvette?” The Engineer sat up straight and said, “Wow! Are you kidding?” And the interviewer replied, “Yeah, but you started it.”

78 / Corporate Citizen / January 1-15, 2015

Wishing

Our Readers A Happy & Prosperous

New Year

January January 1-15, 1-15, 2015 2015 / Corporate / CorporateCitizen Citizen // 79 79

Claps & Slaps Corporate Citizen gives a thunderous clap to Nobel Peace Prize winners of 2014, Delhi based social reformer Kailash Satyarthi and Pakistani teenager Malala Yousafzai. Satyarthi, a child right activist and founder of Bachpan Bachao Andolan has freed over 80,000 children from various forms of child labour and helped in successful rehabilitation of them. Malala, the teenager education activist, who recovered after being shot in her head by Taliban in 2009 for promoting literacy of the girl child, relentlessly pursues her mission and desires to be the Prime Minister of Pakistan someday. Maintaining Mahatma Gandhi’s tradition, Satyarthi has steered many agitations to protest against grave exploitation of children for financial gain. He has also contributed to the development of important international conventions on children’s rights. Young and petite Malala Yousafzai, is known for her activism for right to education for women especially in the Swat Valley where the local Taliban had at times banned girls from attending school. In early 2009, at the age of 11, Malala wrote a blog under a pseudonym for the BBC detailing her life under Taliban occupation. Since then, she had been an outspoken advocate for education of girls. She was critically injured on 9th October 2012 when a gunman shot her in the head while she was riding home on a school bus in the city of Mingora. The Taliban claimed responsibility for the attack. She spent three months in a British hospital and now lives in England with her family.

Corporate Citizen condemns the massacre of innocent school children of Peshawar Terrorism in itself is extremely condemnable, but what happened in Pehawar is beyond despicable. When seven armed militants from the tehreek-e-Taliban stormed the Army Public School in Peshawar and slaughtered 142 people, 132 of which were children, the terrorists crossed a line of depravity. Such was the brutality of the attack, that not only did all the leaders of the world collectively condemn it, other terrorist outfits like the Al- Qaeda and the Afghanistan Taliban have also voiced their disapproval. In the words of Hilary Clinton – ``You can’t keep snakes in your backyard and only expect them to bite your neighbors’’. It is no secret that Pakistan has double standards when it comes to the Taliban. This political ambiguity is one of the reasons that northwest Pakistan has become the most unsafe region in the world. We hope that at least now, Pakistan takes a tough stand on the Taliban. Corporate Citizen, on behalf of all of humanity, gives a tight slap on the face of global terrorism.

Printed and published by Suresh Chandra Padhy on behalf of Sri Balaji Society. Editor : Suresh Chandra Padhy. Published from : 925/5, Mujumdar Apt, F.C. Road, Pune - 411004, Maharashtra. Printed at Magna Graphics (I) Ltd., 101-C&D Govt. Industrial Estate, Hindustan Naka, Kandivali (W), Mumbai - 400067.

80 / Corporate Citizen / January 1-15, 2015