Corporate citizen first issue by Corporate Citizen

Corporate Citizen T he Co ol Side Of Bu sine ss

Exclusive Interview

Dr. Baba Kalyani Which bank rocks on social media?

Volume 1, Issue No. 1 / November 15, 2014 / Rs.50

Sumeeta And HARI Thalapalli

Arvind Kejriwal: Aam Aadmi or Khaas Aadmi?

dynamic duo

Mit graduate clinches $100,000 Fellowship

from the editorial desk

The cool side of business

orporate Citizen, the brand new entrant into the glossy world of business magazines in India, steps in with a new vision and a fresh perspective. Despite the jungle of print, effusing reams and reams of corporate news and features, Corporate Citizen is all set to create a stir with its vibrant approach of narrating business stories, for general readership. Most of the business magazines in India focus on a niche audience, catering to the sectional segment of professionals and entrepreneurs in the corporate world. Hence, they are tuned to be on the more serious and technical side of journalistic writing. Corporate Citizen primarily aims to inspire young readership that is waiting in the wings to fly into the cut-throat community of risers and achievers, through easily-told success stories of the young and the veterans in the Corporate world. Our mission is also to expand the network of readers to include home makers,

professionals, policy makers and senior citizens, in order that inspiring stories and relevant issues are read by a majority. Every Indian today is in touch with the corporate world in some form or the other - be it the use of mobile or in some cases even getting electiricity in their houses. Hence, it is but necessary that people who are entrepreneurs and professionals should become familiar faces and stories for the common man. Corporate Citizen will also address issues that are a joyous and integral part of us - like, food, lifestyle, fashion, travel, health, book reviews and so on. Hence, the theme line of Corporate Citizen is `The cool side of business.â&#x20AC;&#x2122; Corporate Citizen is Pan India in its contents and would be distributed in major cities across India. We are looking forward to your feedback and interaction. Do write to us at corporatecitizenwriters@gmail.com

VINITA DESHMUKH Consulting editor

November 15, 2014 / Corporate Citizen / 1

Contents

Volume 1 Issue No. 1 15 November, 2014

Wax Eloquent Who said what and why

Collywood Chatpata chatter from the corporate world

Investigation Look before you invest

Workplace Attrition Hits IT Space

Corporate Crime Beware of fraudulent interview calls

interview Ease of doing business in IndiaBaba N Kalyani

tête-à-tête Lila Poonawalla: Insights from India’s first woman CEO

Corporate media Corporates’ Media Conquest

debate Nightshift Nightmare

successful start-ups Tasty Khana through Smartphone

Student of the Fortnight Sidhant Pai speaks on his $100,000 fellowship from Massachusetts Institute of Technology (MIT)

2 / Corporate Citizen / November 15, 2014

Coverstory

dynamic duo

A rare candid interview with Hari Thalapalli, Chief Marketing Officer & Global Head (Business Consulting) Tech Mahindra & his wife Sumeeta

The Ad World The Evergreen Amul Girl

Style It’s a Tie!

Career Corner Be a Social Media Manager

Entrepreneurship Look before you plunge into a venture

Festive gifts Go green every festive season

TAKING OFF Sneha Singh on her campus placement experience

Pearls of Wisdom Sri Sri Ravi Shankar: 7 ways to achieve success

mobile apps Tourism Ministry gets smart with app

Photo feature Sri Lanka’s Ramayana trail

Shimmer Glimmer Gold is still a safe asset

Manage Money So you think you’re a non-finance person?

Health Matters Do you eat chicken? Here’s what you should know

Close Encounters Arvind Kejriwal : Aam Aadmi OR Khaas Aadmi

34 November 15, 2014 / Corporate Citizen / 3

Corporate Life

Editor Dr Suresh Chandra Padhy Consulting Editor Vinita Deshmukh Chief Marketing Officer Subash Krishnan

Senior Business Writer Mahalakshmi Hariharan Senior Sub-Editor Neeraj Varty Deepti Chaudhuri

Copy Editor Usha Somayaji

Astroturf Fortune favors the bold and the lucky

Writers

Book Review Mumbaiâ&#x20AC;&#x2122;s dabbawalas and their customer philosophy

Design & Art Direction Kiyan Gupta, The Purple Stroke

Citizen Slaps & Claps Our bouquets and brickbats for the fortnight

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 / November 15, 2014

Delhi Bureau Anuradha Shukla Pradeep Mathur Swati Kumari Mumbai Bureau Vidyut Kumar Ta Rex Cano Bangalore Bureau Priyadarshini Nandy Geeta Rao Pune Bureau Suchismita Pai Sangeeta Ghosh Dastidar Kalyani Sardesai Arun Prabhudesai Mohul Ghosh Anand Karwa Photographers B Vijay Kumar (Cover pic) Yusuf Khan 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

wax eloquent

Make In India Industry bigwigs, corporate honchos, banking and financial institutes react positively to Prime Minister Narendra Modi’s ‘Make in India’ initiative. Most echo the campaign as an important direction to securing India’s economic future. Let us hear it from the ‘Who’s Who’ of the business and commerce fraternity Compiled: Sangeeta Ghosh Dastidar

“India is blessed with a leader whose unique leadership quality is that he dreams and he does. Today is a historic day for Indian industry. When the world looks at India, let nobody have a doubt that we can be competitive on global terms.” “…‘Make in India’ coinage is typical of “Narendra Bhai Modiji” as it is about present and future, as against “Made in India”, which is steeped in the past. “You have inspired India to dream and do.”

“Prime Minister Narendra Modi’s ‘Make in India’ endeavour is a ‘lion step’ that has the potential to change India’s economic future. After a long time, the government has put its might behind growing the manufacturing sector. Manufacturing is key not only for expanding the GDP but most vitally for job creation. His vision of ‘FDI – First Develop India’ and make the country an attractive business destination for domestic and foreign investors is laudable.” Harsh Pati Singhania, Director, JK Organisation credit: http://www.prepsure.com

Mukesh Ambani, Chairman and Managing Director, Reliance Industries

“India can become a manufacturing hub. For us, India is already a manufacturing group. We must create one million jobs a month from manufacturing; otherwise, our demographic advantage will fall flat. ‘Make In India’ is a clarion call that will galvanise India’s economy.” Kumar Mangalam Birla, Chairman, Aditya Birla Group

Credit: The Economic Times/Business Standard

“We have to make this (‘Make in India’ project) work. We all have to do our bit.” “….It is not about whether it is possible. It has to be made possible.”…We are not going to get any more chances. I think India has been given one more chance after disappointing the world”. “…I am very delighted to say that we are first of the block. This vehicle (recently launched new generation Scorpio) will make us proud not only in India, but also validate ‘Make in India’, around the world.” Anand Mahindra, Chairman, Mahindra Group Credit: The Economic Times

Credit: Business Standard

“The Prime Minister’s vision of India as a manufacturing powerhouse calls for the preparation of educated workforce of thinkers and problem solvers and not rote lovers.” Azim Hashim Premji, Chairman Wipro Limited. Credit: Business Standard

“PM’s ‘Make in India’ initiative will be the next driver for economic growth. The initiative is inspiring. There is a high demand for manufactured goods from this country. The approach will be zero defect. Manufacturing will strengthen the macroeconomic stability of the country. “ Chanda Kocchar, Managing Director and Chief Executive Officer, ICICI Bank Credit: Yahoo News

“Make in India” campaign is an extremely progressive move by the Prime Minister. At Toyota Kirloskar Motor, we are committed towards the development of manufacturing sector and are confident that with the right support from the government we can charter a sustained growth for Indian automobile industry which has great potential due to its strong supplier base, skilled labour and rising exports.” Naomi Isshi, managing director, Toyota Kirloskar Motor credit: http://www.

“The 'Make in India' campaign is a great initiative and a welcome move for the Indian manufacturing industry. What stands out clearly is the intent of easing business processes in India, with further reforms and favourable policy intervention which will attract FDI. The automobile industry is an important contributor to the country's GDP and it is encouraging that it will be part of the 25 thrust sectors outlined for growth…” Sumit Sawhney, Country CEO & MD Renault India

prepsure.com

credit: the economic times

sangeetagd2010@gmail.com

November 15, 2014 / Corporate Citizen / 5

collywood

People in the news

To all the men out there…watch out…Arundhati Bhattacharya, chief, State Bank of India has been named amongst the 50 most influential people by a list from Bloomberg markets. Bhattacharya has been featured in the “Bankers” category and is the only Indian woman to be featured on the list. Arundhati Bhattacharya runs India’s biggest bank. “We select individuals based on what they’re doing now, rather than past achievements, and almost three-fifths of this year’s list is made up of people who are appearing for the first time,” Bloomberg Markets added.

Nilekani frowning? Nandan Nilekani, the former co-founder of Infosys and the one who steered the central government’s UID (Unique Identification Card) known popularly as Aadhar card, had also plunged into politics. He stood on a Congress ticket from South Bangalore constituency for the recently held Lok Sabha elections but lost. Nilekani apparently is disappointed with his defeat and has apparently withdrawn from active social campaigns that he is known for. In the early 2000s, he had formed a citizen task force to improve Bangalore’s civic problems like traffic and roads and so Bangloreans continue to pin hope on his leadership. None less than Chief Minister Siddaramaih is chalking out a role for Nilekani in Bangalore’s development in order to get him back on a seat that would lay a vision of sustainable growth. The only curious question is: If Bangloreans love him so much, they why did they not vote for him?

Women on top

The Indian real estate giant of Seattle Did you know that Infosys Ex CEO S D Shibulal owns 700 apartments in Seattle which he leases out on rent? Innovation Investments Management India is the name of his family enterprise and top notch officials of leading companies in Seattle like Amazon, Microsoft and Boeing are his tenants. The IT stalwart and entrepreneur is now fanning his real estate enterprise in several cities of Europe. Quite truly, a great combination of professionalism and entrepreneurship!

6 / Corporate Citizen / November 15, 2014

Photo conscious PM Prime Minister Narendra Modi doesn’t want even Cabinet ministers to select his pictures that appear in government advertisements. PM’s principal secretary, Nripendra Mishra, issued a circular to all secretaries of the Government of India on August 9 listing out do’s and don’ts on how to use the PM’s photograph. A copy of the final advertisement carrying the PM’s picture was always sent to the PMO for approval. After approval, the PMO used to send the advertisement to the Directorate of Advertising And Visual Publicity, which in turn released the advertisement to newspapers. But this was a mere formality and the Prime Minister’s Office did not have any role in selecting pictures or changing the content. All this would change. Unlike the practice of sending the final copy to the PMO, Mishra has asked all ministries/departments to furnish at least three different options (layouts) for approval, so that a reasonable choice can be made among available alternatives. This has to reach the PMO, at least, five working days before the scheduled date of publication.

I quit! Wonder what went wrong….Do you know that rating agency, Crisil, an affiliate of Standard & Poor's, has now turned headless as its chief, Roopa Kudva has stepped down from her post of CEO and managing director. She has a seven year stint with the company. She took over as CEO in 2007, after the then chief late R. Ravimohan was elevated to a regional role. Following Ravimohan's resignation in 2009, she was handling regional responsibilities as well. In a statement that was issued to the stock exchanges, Crisil said, "Kudva has informed the board of directors of her intent to leave Crisil. She will be relieved of her duties after the company identifies and appoints a successor." Well, we really don’t know whether differences with parent S&P on management and strategy had triggered the move...but wish her luck for her future endeavors.

Replacements? Do you know that tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on the Fortune magazine list? In the latest list for the year 2014, ITC is followed by engineering and infrastructure major Larsen and Toubro (L&T), another FMCG giant Hindustan Unilever, carmaker Maruti Suzuki and public sector bank SBI among the top five most admired companies in India. In 2013, the list was topped by TCS, followed by HUL, ITC, Infosys and SBI at in the top-five. TCS has moved down to the sixth position this year. The rankings are based on a survey of over 1,500 companies as per responses from the top industry executives, including on the basis of peer group response. November 15, 2014 / Corporate Citizen / 7

collywood

How happy are you ? Winds of change: Perhaps for the first time in Indian banking history, Chennai-based, Lakshmi Vilas Bank (LVB) measured the happiness of its employees with a Happiness Index. This interesting initiative is part of the bank’s transformation process undertaken by the new top management. Says A.J. Vidyasagar, Chief General Manager, LVB told reporters, “A happy employee will make customers happy. We have decided to measure the happiness of our employees at the work place and have developed the Happiness Index.” Each employee’s level of happiness is measured on a scale of 1-10 under four headings -- job satisfaction, amenities provided at the work place, human resource policy and behaviour of colleagues towards the employee. So, keep smiling and stay happy…

Telecom mess

Too Sarkari: Vodafone, the world’s second-largest telecom operator says it is difficult for foreign companies to do business in the country because of slower government clearances.

Apparently, Marten Pieters, Chief Executive & Managing Director at Vodafone India said the firm had in December 2013 sought government’s approval to bring in funds from the parent company for buying airwaves but the clearance was still awaited. “Yes, it is difficult to do business in India. That is the perception of foreign companies in general, not only telecom ones,” said, Pieters at the Economist India Summit here. “The telecom industry, if you look at it from an international perspective, is a mess in India. It seems to come from this concept that has been developed in the past, that the more the competition, the better,” Pieters added.

8 / Corporate Citizen / November 15, 2014

Innovations Unlimited! Recently, Arun Firodia, Chairman of Kinetic Group, released his book titled `Innovation on two wheels.’ It is about the ingenious methods that were applied to bring out `Luna’ – the first

ever Indian moped, at a low cost of Rs.2000 during the mid-seventies. If you thought, Firodia’s innovation stopped at the Luna and subsequently the Kinetic scooter, you are quite off the mark. Firodia proudly mentioned that he would be soon launching a robot which can cook for you, when you press a button from your workplace. Wow, while that brought about spontaneous laughter amidst the audience, his other experiment of manufacturing a low-cost dialysis unit, needs accolades. The present ones cost around 7-10 lakh rupees but he is trying to bring it our for Rs. 1 lakh. We wish him all the best.

Eighth time lucky!

Aviation sector in doldrums Another senior official from the aviation space calls it a day… Sumant Mishra, head of safety, AirAsia India has resigned, few months after the domestic arm of the Malaysian budget airline got off the ground, sources said. Mishra is now serving the mandatory six-month notice and his services will be utilised as a flying commander. The airline, however, has found his replacement, who will soon be taking over the position left vacant by Mishra, a source close to the development, told PTI. “Sumant Mishra has resigned from the top job and he is now serving the mandatory sixmonth notice before leaving the carrier,” the source said. Mishra, who had earlier been with the now grounded Kingfisher Airlines as chief of flight operations, joined AirAsia India last year, when it was in the process of launching operations.

For the very first time, the 100 richest tycoons in India are all billionaires with Mukesh Ambani topping the league for the eighth consecutive year, according to Forbes. With a net worth of $23.6 billion, up $2.6 billion from last year, RIL Chief, Mukesh Ambani topped the list for the eighth consecutive year. Ambani was followed by Dilip Shanghvi, who got richer this year by $4.1 billion. Shanghvi is the new No.2, after he displaced steel baron Lakshmi Mittal ($15.8 billion), who slipped to the fifth place. Wipro's Azim Premji moved up one notch to the number three position as his net wealth increased to $16.4 billion from $13.8 billion previously. The euphoria after the Bharatiya Janata Party's landslide victory in May, has indeed helped the bull run in the stock market by nearly 28 per cent since January, driving the net-worth of the uber-rich people in India. While investing in stock markets is truly a gamble, it works just fine for a handful of them.

Smart plans for a smart city

The spiritual capital of India, Varanasi, can now look forward to being a “smart city” soon. Prime Minister, Narendra Modi has signed an agreement with Kyoto in Japan, to develop his constituency, Varanasi, as a ‘smart city.’ Kyoto, Japan’s ‘smart city’, is known for its confluence of heritage and modernity. Modi has his vision clear of building 100 smart cities across India. The launch of the smart heritage city programme, between the two nations, is to give the holy city a major uplift. Not just Varanasi, but towns like Amritsar, Ajmer, Gaya, Mathura and Kanchipuram are also on the list for Modi. These are popular religious destinations that attract a large number of tourists but have fallen behind in infrastructure and are not among the cleanest of Indian cities. Compiled by : Mahalakshmi Hariharan & Neeraj Varty

November 15, 2014 / Corporate Citizen / 9

investigation

Look before you invest Beware of Collective Investment Schemes

Anatomy of a fraud: Recently, the Serious Fraud Investigation Office (SFIO) in Delhi completed its probe on the chit fund scam of 14 Saradha Group firms that had been running Ponzi schemes and duping lakhs of investors in West Bengal. Six month ago, the CBI had registered a case of criminal conspiracy against Pearl Agrotech ltd for cheating over five crore investors of over Rs 45, 000 crore. Corporate Citizen gives you an overview and cautions you on such schemes. BY vijay kumbhar

A look at some of these scandals in detail

With inputs by Mahalakshmi Hariharan

Evolution/History of Ponzi Schemes in India As large parts of the Indian rural population still has low access to the formal banking services, informal banking channels opened up. At its centre were the moneylenders, who used to charge exorbitant interest rates. However, failure to replace the role of moneylenders gave rise to fly-by-night financial operators who ran Ponzi schemes in various disguises. Some commentators say that Ponzi schemes are run on greed rather than exclusion from formal banking systems. The relatively prosperous rural economy of West Bengal previously relied on small savings schemes run by the Indian Postal Services. However, low interest rates in the 1980s and '90s encouraged the rise of several Ponzi schemes in speculative ventures such as Sanchayita Investments, Overland Investment Company, Verona Credit and Commercial Investment Company. Together, these scams eliminated close to Rs 10,000 crore of investorsâ&#x20AC;&#x2122; wealth then. Essentially, the continuing decline in interest rates, rapid financialisation of household savings, lack of financial literacy and investor awareness, political patronage, absence of adequate legal deterrence, and regulatory arbitrage encouraged the growth of such schemes. The companies

How do these schemes operate? Any scheme or arrangement made or offered by any company under which the contributions, or payments made by the investors, are pooled and utilized with a view to receive profits, income, produce or property, and is managed on behalf of the investors is a Collective Investment Scheme (CIS). Investors do not have day to day control over the management and operation of such scheme or arrangement.

running these schemes either raised their funds through legitimate channels such as collective investment schemes, non-convertible debentures and preference shares, or illegitimately through hoax financial instruments such as teak bonds, potato bonds or fictitious ventures in agro-export, construction or manufacturing. In 2013, eight out of every ten multi-level marketing and finance schemes against which complaints have been received are based in West Bengal, giving the state the sordid title of 'Ponzi capital of India'. It is estimated that these Ponzi funds have altogether amassed around Rs 10,000 crore from depositors from the East. What is a Ponzi scheme? A Ponzi scheme is a fraudulent investment operation where an individual or an organization lures new investors by offering high returns on their investments that are either abnormally high or unusually consistent. Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

10 / Corporate Citizen / November 15, 2014

Saradha Group financial scandal The companies that made up Saradha Group were incorporated in 2006. Like all Ponzi schemes, Saradha Group promised astronomically high returns to all its investors. Their funds were sold on commission by

Pic Courtesy: The Indian Express

A Ponzi scheme is a fraudulent investment operation where an individual or an organization lures new investors by offering high returns on their investments that are either abnormally high or unusually consistent agents who were recruited from local rural communities. As much as 25-40% of the deposit was returned to these agents as commissions and lucrative gifts to quickly build up a wide agent pyramid. To keep ahead of regulators, the group used a nexus of companies to launder money. Initially, the front-line companies collected money from the public by issuing secured debentures and redeemable preferential bonds. However, under Indian Securities regulations and section 67 of the Indian

Companies Act, 1956 a company cannot raise capital from more than 50 people without issuing a proper prospectus and balance sheet. Its accounts must be audited. It must also have explicit permission from the market regulator Securities and Exchange Board of India (SEBI). SEBI first challenged Saradha Group in 2009. Saradha Group responded by opening as many as 200 new companies to create more cross-holdings. This created an extremely complex corporate structure that made it diffi-

cult to pin blame on any one company. However, SEBI persisted in its investigation through 2010. In response, Saradha Group changed its methods of raising capital. In West Bengal, Jharkhand, Assam and Chhattisgarh, it now ran variations of CIS, such as tourism packages, forward travel and hotel booking timeshare credit transfer, real estate, infrastructure finance, and motorcycle manufacturing. Investors were rarely informed about the true nature of the investments. Instead, many investors were only told that

November 15, 2014 / Corporate Citizen / 11

investigation they would get high returns after a fixed period. To other investors, the investment was fraudulently sold as a form of 'chit fund'. Under the Chit Fund Act (1982), chit funds are regulated by state governments rather than SEBI. After SEBI warned the state government of West Bengal about Saradha Group's apparent chit fund activities in 2011, Saradha Group changed its methods again. This time, it acquired and sold large numbers of shares of various listed companies, siphoning off the proceeds of the sale to accounts which have not yet been identified. Around this period Saradha Group started laundering a large portion of its funds to Dubai, South Africa and Singapore. By 2012, SEBI was able to identify the group's activities as CIS, not chit fund, and demanded that it immediately stop operating its investment schemes until it received proper permission from SEBI. However, Saradha Group ignored SEBI, and continued to operate in the same manner until it collapsed in April 2013. Recently, the Serious Fraud Investigation Office (SFIO) in Delhi completed its probe into chit fund scam of 14 Saradha group firms. All these companies were involved in chit fund scams and would enroll new investors so that they could pay off the older clients instead of generating income through investments. Now, they would face prosecution as they had violated SEBI laws and various other laws. Pearl Agrotech Corporation Ltd (PACL)-the tale of Nirmal Singh Bhangoo The website of PACL India Limited (Pearls) says “PACL India Limited (Pearls) is India's Premier Real Estate Development Company with Multi-dimensional portfolio ranging from commercial to retail and residential segments. The company is also engaged in sale and purchase of agricultural land and supported with huge land bank. The company has strong in-house R&D and accordingly varied agricultural activities are being carried out based on geographical location of Farms e.g. production of Wheat, Paddy and Vegetables in Northern India and Mangoes, Pomegranate, Sapota, Amla, Cashew Nuts etc. in Southern States.” PACL India Limited was incorporated on 13th February 1996 under Companies Act 1956 and is engaged in manufacturing of

Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected health care products and trading in timber, business of real estate, management and development of agricultural lands. Since its inception, PACL India Limited has grown phenomenally to have a nationwide presence catering to the aspirations of more than 5 crore customers. All offices of the company are fully computerized, equipped with modern infrastructure and operated through professionally qualified work force, the website adds. Now, according to media reports, Nirmal Singh Bhangoo, the man behind Pearl Agrotech Corporation Ltd’s first business venture manufactured and traded magnetic pillows, which were used by people who suffer from neck and back problems. He soon diversified into real estate and allied sectors such as hospitality, tourism, media and education. About six months ago, the CBI registered a case of criminal conspiracy and cheating under Sections 120B and 420 of IPC against Nirmal Singh Bhangoo, his two companies Pearls Agrotech Corporation Limited (PACL) and Pearls Golden Forest Limited (PGFL) and their director Sukhdev Singh for duping five crore investors with the money swindled to the tune of Rs 45, 000 crore, through the

12 / Corporate Citizen / November 15, 2014

collective investment scheme under the garb of sale and development of agricultural land. In 2009–10, Bhangoo entered the Australian market by starting Pearls Australasia, the Australian property arm of his company. Bhangoo is reported to have struck major real estate deals in that country since then. The Punjab-born businessman charmed the Aussies when he donated houses to flood-hit families down under a few years ago. All this goodwill generated over years of careful planning and image management may not help Bhangoo if he fails to repay investor deposits. Only a positive SAT (Securities Appellate Tribunal) order will serve his cause. PACL has said that it will approach SAT for relief against the Sebi order. If SAT upholds Sebi’s views, it may well be the end of road for Nirmal Singh Bhangoo and his company Pearl Agrotech Corporation. SEBI has asked PACL to return Rs 50,000 crore to investors who have participated in their investment scheme since 2005. Smart Buy Recently, another such scheme called the Smart Buy that lured many investors with high returns was exposed. Most investors had quit their low-paying jobs, taken in by the lure of high returns. Some even got friends and relatives to invest in the scheme. That very day, their MPs had passionately debated the issue in the Lok Sabha, speaking of the need to protect gullible investors from Ponzi schemes, and unanimously passing amendments to a SEBI law to check such schemes. The promoters, identified in a police FIR as Sadanand Patkar, Shrikant Gurav, Diptesh Singh and Raj Kanojia, promised investors returns as high as 60 per cent in five months, after tax. The business activities involved dairy farming, strawberry plantation, goat rearing and fish farming, all of which have short gestation periods The investors allege that over 100,000 people across Maharashtra, mostly from the lower middle class, may have been hoodwinked into investing in the scheme. They assert that the scheme had 130,000 accounts, with some investors holding more than one account. Some had created a chain of 500 people below them. The company, too, is said to have touted such numbers in its presentations. The promoters changed the name of the company every time the previous one went bust, and even registered the new ones.

Frequently asked questions on CIS

What are Collective Investment Schemes (CIS)? Collective Investment Scheme or CIS is a scheme/arrangement offered by any company where contributions, payments made by investors, are pooled and utilised with a view to receive profits. It is managed on behalf of the investors. Investors do not have day-to-day control over the management and its operation.

from the closure of the financial year.  Scheme wise annual report should be published in a national daily immediately, not later than two calendar months from the date of finalisation of accounts. Scheme wise unaudited quarterly financial results should be published in a national daily by CIMC within a month before the quarter ends.

Which are the schemes not treated as CIS? a. Any scheme/arrangement offered by a cooperative society or a society deemed to be registered under any law relating to cooperative societies for the time being in force in any State b. Schemes/arrangement where deposits are accepted by non-banking financial companies c. Schemes/arrangement being a contract of insurance to which the Insurance Act applies d. Schemes/arrangement providing a Scheme, Pension Scheme or the Insurance Scheme under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 e. Schemes/arrangement where deposits are accepted  f. Schemes/ arrangement where deposits are accepted by a company, declared as a Nidhi or a mutual benefit society g. Schemes/arrangement falling under the chit business category h. Schemes/arrangement where contributions are made in the nature of subscription to a mutual fund

What is a Collective Investment Management Company (CIMC)? CIMC is incorporated under the provisions of the Companies Act, 1956, registered with SEBI under the SEBI (CIS) Regulations, 1999. Its object is to organise, operate and manage a CIS.

Can an existing CIS raise further funds?   An existing CIS can’t launch new schemes, unless a certificate of registration is granted by SEBI. In short, after notification of regulations an existing CIS, even after obtaining provisional registration as well as after obtaining credit rating cannot mobilise funds from the public without a certificate of registration.

Does filing of offer document with SEBI mean the scheme is safe? It is to be understood that submission of offer document to SEBI should not in any way be deemed that the same has been cleared or approved by SEBI. SEBI doesn’t take the responsibility either for the financial soundness of any scheme for which the offer document has been filed or for the correctness of the statements made, or opinions expressed in the offer document.

When can an existing CIS wind up? If the CIS fails to make an application for registration, was not desirous of obtaining provisional registration, has not been granted provisional registration, or having obtained provisional registration fails to comply with the provisions as per the regulations, it is required to wind up the scheme.

Procedure?  Firstly, an existing CIS should send an information memorandum to investors who have subscribed to the schemes, detailing the state of affairs, amount repayable to each investor and the manner in which such amount is determined.  The said information memorandum has to be dated, signed by all directors. The information memorandum has to state that investors desirous of continuing with the scheme should give a positive consent, within a month from the date of the information memorandum, to continue with the scheme. If there is a positive consent to continue from only 25% or less of total number of existing investors, the scheme shall be wound up & payment will be made within three months of the date of the information memorandum.

11 12

When can a company register itself as a CIMC, raise funds from public? Registered CIMCs can raise funds from the public by launching schemes. Such schemes must have a credit rating and be appraised by an appraising agency, approved by the trustee, contain disclosures, as provided in the regulations, to enable investors make an informed decision.  A copy of the scheme offer document should be filed with SEBI. If no modifications are suggested within 21 days from the date of filing, the CIMC can issue the offer document to public for raising funds.

Are investors entitled to receive information on the schemes where they have invested? Investors should receive a copy of the balance sheet, P&L and the summary of the yearly appraisal report from CIMC within two months

Procedure of redressal mechanisms for those who invested before the date of notification of the Regulations, i.e. before 15/10/1999?  Most of the existing CIS had collected funds from public before the regulatory jurisdiction of SEBI came in. Any action by SEBI against defaulting entities does not necessarily ensure the refund of money invested. Can an institution guarantee the repayment? SEBI cannot guarantee repayment.

Redressal grievance-Investors should approach the CIS. If unsatisfied, they may write to SEBI. District consumer redressal forums can be approached if entities fail to honour their commitments.

Regulator chips in—tightens regulatory screws The Securities Laws (Amendment) Bill, 2014 that was cleared by Parliament in August 2014, gave Sebi powers to crackdown on Ponzi schemes. This measure of tightening the regulatory noose on such fraudsters that use newer methods to take gullible investors for a ride can now come to an end. The proposed Bill comes in the wake of massive public outrage witnessed in the recent chit funds scam perpetrated by Kolkata-based Saradha group, Pearls Agrotech Corporation and others that raised illegal public funds and defrauded thousands of investors with dubious schemes. Even the Sahara group has been making the headlines for wrong reasons for a while with its jailed chief trying hard to raise funds to secure his bail. The Supreme Court took serious note of such illegal schemes and ordered CBI probe against Ponzi operators. Sebi also passed orders against Rose Valley, MPS, Sumangal, Sunplant Agro and a few others for alleged violation of CIS. Most of the cases are pending before different high courts or the Securities Appellate Tribunal (SAT). SEBI has issued orders against 39 companies since May 2014. The firms are instructed not to collect any money from the public or start new funds, according to SEBI website. They must return investors’ money or cooperate with investigators to avoid criminal charges, the orders say. “Where there is money, there are bound to be some sharks,” FM, Arun Jaitley told the Lok Sabha in August 2014, before it passed an amendment to the Sebi Act.. The menace of illegal investment schemes has grown big in recent years. Experts say over 30,000 registered chit funds in the country are regulated by state registrars under the 1982 Chit Funds Act. Several states including Kerala, Maharashtra and Odisha have cracked down on unregistered funds. Tamil Nadu alone has over 2,000 registered chit funds companies with an annual turnover of Rs4, 000 crore. Prevention is better than cure-A word of caution for investors All that glitters is certainly not gold. Despite regular awareness among the common man about such schemes, gullible investors who are after making a quick buck fall prey to such schemes. Before opting for such collective schemes and getting lured, think twice…after all prevention is better than cure. Safety guide to investors-Visit http:// goo.gl/j7TPC2 (Vijay Kumbhar is a leading RTI activist and columnist for leading Marathi newspapers) kvijay14@gmail.com November 15, 2014 / Corporate Citizen / 13

coverstory

It takes TWO to Win LIFE

14 / Corporate Citizen / November 15, 2014

Hari Thalapalli, Chief Marketing Officer and Global Head (Business Consulting), Tech Mahindra in Hyderabad and his wife,Â SumeetaÂ Hari, one of two Indian women directors at a multinational company, look like the ideal couple in this global economic and professional arena. Home for them is equal priority. Corporate Citizen picks up some pointers on their idyllic life of togetherness as they stride across successful corporate careers

Pic: B Vijay Kumar

BY Vinita Deshmukh

November 15, 2014 / Corporate Citizen / 15

cover story

he HITEC city of Hyderabad, also known as Cyberabad, is the most sophisticated skyline of the city. Other parts bear remnants of the Nizam era or look run down compared to the glitzy infrastructure of this neighborhood. Besides, the area is considered so sacrosanct that even politicians dare not sully its tech-steeped precints with protests and agitations, confining them all to the twin cities of Hyderabad and Secunderabad. Cyberabad is the crowning glory of the city with its Infotech Park spread over 5 million sq ft and rated as the best of all software park cities. The great IT story that began with Satyam in the 1980s and the then Chief Minister Chandrababu Naidu continues to be Hyderabad’s icon of progress. It contributed to over 40% to the erstwhile state’s revenue (along with Ranga Reddy district), amounting to over Rs.70,000 crore in financial 2012-13. While thousands of techies work in the innumerable IT companies stacked in modern and mind-boggling architecture, they also bear the brunt of the scourge of any urban city of India – congested traffic and a public transport system that has not kept pace with the speed and profile of the business of software. Traffic jams at peak hours have become the norm, though now with the hope that ‘Acche din ane wale hain.’ Residential complexes within HITEC city despite being expensive propositions, are patronized by the who’s who of the IT world. In one such beautifully laid out bungalow society, Hari Thalapalli and his wife, Sumeeta reside with their two children, Shruti and Pratyush in their tastefully decorated home. A sense of serenity pervades from the sublime colored walls and furniture, as Hari and Sumeeta continue the rhythm of work, from home. As I was running a bit late for my appointment, I sent an SMS to Hari. He promptly replied, ``I have two calls in between. I may take two half hour breaks as we go thru the meeting. Pl accommodate.’’ Once home, Sumeeta too was with her lap top and said she would postpone her conference call by half an hour. Both, so warm and affable, yet completely focused on their hi-tech conference calls. Hari who is known to be a star performer at Tech Mahindra has a better half in Sumeeta, a star performer herself.

16 / Corporate Citizen / November 15, 2014

“Many years ago I read two lines which have stayed with me. ‘Always be happy, but never be satisfied.’ ‘ Never be satisfied with what you do, but always be satisfied with what you have.”

Pic: B Vijay Kumar

How they met While Hari was busy prodding some young professionals on deadlines and targets over the phone, Sumeeta opened up on how the two met and have been having a `happily ever after’ existence, but, not before conquering the challenges that came their way. Says Sumeeta, ``I completed my graduation in 1986 and joined a CAD/CAM course. I was looking out for a project in this area and approached OMC which pioneered in it. Hari was a trainee in HR function at that time. Earlier he was in Chennai and it was the first time he had stirred out of the city for work. I handed over my CV to him and I soon got selected (for project and life). That was the

first time I met Hari.’’ So, was it love at first sight? ``No,’’ says Sumeeta with a smile, ``our friendship gradually grew – it was a good feeling to be with each other. Finally, we took the decision after being convinced that getting married to each other was the right decision.’’ The highpoint of Hari’s nature, says Sumeeta, is his care and concern, which is what made her feel comfortable with him and gave her the will to stay steady on the decision. She says contentedly, ``He is a wonderful individual in the way he talks, in the way he deals with a particular situation or analyses as to who’s behind it. It is this quality that comes handy when we deal with challenging situa-

“Children, in their growing up years, need quality and quantity time. Hari gave quality time and I gave quantity time.” tions.’’ Hari is a South Indian while Sumeeta is from U P, though she has been a Hyderabad resident since childhood. Elaborating Hari’s role in consolidating their relationship, she says, `We did have a rocky time as I come from a different community. My maiden name is Sumeeta Mathur. My parents were concerned about the vast difference in culture. Hari turned their prejudice around so fast and bridged the gap in such a manner that he soon became a very respected member of the family. We soon integrated as one family, with all questions answered.’’. Hari, who by now has finished his conference call, joins in and states in a calm yet firm manner, “There was definitely some reservation prior to the wedding. We understood the anxiety and dealt with them accordingly. The birth of our first child played an important role in strengthening the bond between the two families.’’ Suddenly, sprightly Shruti, their daughter, enters the living room, on her way to her job at Google, where she has completed one year. I asked her what she thought of her parents. She burst out almost into a symphony as she said, “My parents are friends to each other – that’s how I’ve always seen them. My brother Pratyush and I also look at our parents as friends. I never remember them being stern with us. I can talk about anything with them.’’ Very proud of her young-looking parents, Shruti continues, “My friends wonder how my parents are so cool. Some of them have a crush on my dad and think he is real hot. Once in Egypt, when I was waiting for a bus with my dad, a person mistook him to be my boy-

November 15, 2014 / Corporate Citizen / 17

cover story friend. At another time, I was asked whether my mother was my friend.’’ The Balancing Act Both being corporate leaders in their own spaces, how do they do the balancing act between workplace and home? Hari, a thorough professional, explains it all in a scientific manner. Sumeeta too joins in with her perspective. Says Hari, “We lead our lives based on certain principles: 1. Come what may, Sumeeta must have an independent career. “Life is uncertain so it is better to be independent and there is no sense of dependence. There were moments of anxiety while bringing up the children or travelling. We successfully fought through that. Sometimes when a child got hurt, I used to feel that one of the parents should have been home. But then, even if moms are at home, it does not mean that the child would not fall down and get hurt.” 2. Children, in their growing-up years, need quality and quantity time. Says Sumeeta, “Hari gave quality time and I gave quantity time. I ensured that I was back from work by 7 pm, so that I could be physically present at home. Many a time, I used to continue to do my office work from another room, but my presence was enough for the children to bring a smile on their faces.” Hari says, “When I am not travelling, I ensure I am at home as much as I can.’’ 3. For the five days between Monday and Friday, we lead our own independent lives. “Friday to Sunday is the time when the four of us spend maximum time with each other and socialize. Sumeeta and I make the best effort to be back home on Friday, no matter where we are travelling. During week days too, the four of us try and have dinner together if we are at home, though we may have conference calls and other interruptions. We achieve this twice or thrice a week.” 4. We do not believe in taking responsibility for our children’s performance in school Says Sumeeta, who has clear thoughts on how much they as parents, should get involved with their children’s studies, “We gave them a good school environment and it is up to them to perform. In fact, I was always petrified of the Parents Teachers Association (PTA) meetings. Mothers would be vociferously discussing as to how difficult or easy some subject was, and I never wanted to be a part of that.” 5. We believe in leading by example rather than preaching. “Our children are what they are because of our work schedules which did not make it possible for us to be always at home for them,” says Sumeeta. “So they had time for themselves, to think on their own,

even take decisions when required. This has also led them to be independent and happy with what they have. For example, my son Pratyush who is 16 years old now has, since childhood, declined to be pampered by gifts. His reason was, he has everything. Sometimes he does get affected by peer pressure. At that time, it is important to sit with him and talk it out. When his mobile phone screen broke, we reminded him it was only 18 months old and a replacement of the screen would do- he was convinced. At the same time, we spend when necessary, but the value of money needs to be understood in the right perspective. Work Place Fundas At work, what is it that keeps Sumeeta ticking and smiling? Says she, “We need to live for what we want to be. I should examine why I work14 to 16 hours a day. It should not be only to satisfy my company, which is important in one’s profession, but because it gives me personal happiness and satisfaction to spend those long hours.’’ “I believe it is very important to balance work and life. You need to be happy at the end of the day, and your family should also be

18 / Corporate Citizen / November 15, 2014

taken care of. If I were to focus only on work all the time and if my children had suffered or gone astray as a result of it, I would have never forgiven myself.’’ Family, more important than designation Considering the importance of the family fabric in India, Sumeeta believes the balancing act is crucial and gives more job satisfaction. She elaborates, “In the Indian context, where family ties are very important, women should never get into the rat race. The family should take priority, when it needs to. You need to know that your ground speed should slow down let’s say when your child is born or at some stage when he or she needs you and you should feel proud about sacrificing your job for your family needs. “Although my children have grown up, I travel abroad for a week or two, three to four times in a year but wherever I am, I ensure that I am always in touch with the children, driver and servants. It is part of my regime. I may not speak to Hari- all that he needs to know from me is whether I am safe and whether I am okay.’’

Pic: B Vijay Kumar

football player and fan, even if it disturbed my home and other schedules. Complimenting her for being level headed, Hari quips, “She is the sanity and I am the cause for insanity. I just throw an idea and she picks it up and makes it happen.’’ Hari: Always be happy, but never satisfied What is Hari’s philosophy at work? He states,“Many years ago, I read two lines which have stayed with me. ‘Always be happy, but never be satisfied.’ This is the most profound contradiction. ‘Never be satisfied with what you do, but always be satisfied with what you have.’ I can never turn around and say that I did the best I can. I always feel I could have done it better. This is a philosophy that took me some time to learn, adapt and adopt.’’ Do Hari and Sumeeta feel that performance at the workplace depends on the environment at home in terms of marital

Sumeeta believes parents should heed their children’s sentiments as far as possible and not brush them aside. Narrating a recent incident, she says, “Recently when Hari, Pratyush and I were in Brazil for the FIFA World Cup, it was a day when Shruti completed her first year at Google, her first job. Knowing that it matters a lot to her, before leaving, I called up her friend in Google and requested him to place a bouquet that I sent, on her table; I called up her school mate requesting her to buy a gift and give it with a note emailed by me. I also told my mother, brother and sister to congratulate her. These little steps, thought well in advance made me feel good and less guilty.’’ You must also be sensitive to your spouse’s sentiments, believes Sumeeta. She narrates a recent episode. Hari had gone to Brazil for FIFA. My son could not get his visa on-time. After a few days Hari heard that special FIFA visas were being given by the Brazilian Consulate within 48 hours. Hari wanted his son to experience the environment if possible. I knew it would really cost a lot to go to Brazil because of the last minute hassles and bookings, but I realized what it meant to Hari and Pratyush to watch the game with his son, who is a great

to traditional streams of opportunities and are willing to experiment. Going beyond medicine, management, law and engineering, they opt for creative fields like hospitality management, film making and so on. Youngsters are taking far more risks to experience new channels of work, creativity and fulfillment.’’ So, what is the biggest challenge for today’s generation? “It is their ability to stay in the workplace and not keep changing jobs and careers at the slightest trigger. They should develop the ability to stay the course and fight the challenges and rigours of the position they hold. That will make them of stronger mettle and make them progress better in their career,’’ says Hari. Do young professionals lack the spirit of togetherness in marriage, what with increasing number of divorces especially among urban couples? `The context is changing. Careers have become equally important for

“Our children are what they are because of our work schedules which did not make it possible for us to be always at home for them. So they had time for themselves, to think on their own, even take decisions when required. This has also led them to be contented and happy.” relationship? Hari says, “Family tensions and work performance are inter-linked. However, some have stress points at home but never carry it to the work place; some people do suffer from this hangover. I do believe that everyone goes through a phase when personal life affects professional life but it is a brief period. People get over it eventually.’’ The youth today What is his assessment about students of today? According to Hari, “Students are far more exposed today to opportunities and competition and so life demands a greater level of preparedness from them. Also, they are far more flexible in making their career choices. They do not confine themselves

both partners. Many couples reside in different cities and yet keep their marriage. Not the best option, but they are willing to make that compromise for near to medium term. Comfort zones between them are all in the mind – every couple adapts as per their priority and convenience,’’ says Hari. Finally, who has the chance to be a go-getter? “People are evolving and circumstances keep changing fast. People who are unwilling to change will get caught in the trap and will not be able to move forward in life. Forget about money, those who are not willing to learn and unlearn with this fast changing technology, will suffer both loss of career and direction.’’ Vinita.Deshmukh@corporatecitizen.in

November 15, 2014 / Corporate Citizen / 19

workplace

ATTRITION HITS IT SPACE

Attrition rates are sharply rising in the IT sector, despite the perks and packages that go to woo and retain employees. Mahalakshmi Hariharan finds out why employees seek exit doors

ll that glitters is certainly not gold. The IT sector—one of the most promising sectors of India is currently going through a rough patch as its employees look for greener pastures. Attrition, a term used for employees leaving their companies, has gripped the IT industry real hard. It is true that this so-called “glamorous” sector is one of those very few in India that offer various perquisites for its employees, like pick up and drop facility, flexible working hours, an open and liberal work culture, besides decent to hefty pay packages. However, despite offering these facilities, the industry is still facing high attrition numbers. Recent attrition reports from IT giants show that the numbers have been sharply rising. We took a dip in to understand the reasons for employees looking for an exit. 20 / Corporate Citizen / November 15, 2014

Better Prospects/ Compensation

This is one of the biggest concerns among junior and mid level employees. Companies often paint a rosy picture when an individual is joining the organization. They promise you high increments and quick growth, but that does not happen. Abhishek Iyer, an IT professional from Pune says, “Salary structures are bad and that is not even communicated to us properly. Most of the perks are only meant for the top management. Junior and mid level employees are the ones who suffer the most.” Explains Prakash Advani, Regional

Salary structures are bad and that is not even communicated to us properly. Most of the perks are only meant for the top management. Junior and mid level employees are the ones who suffer the most - Abhishek Iyer, IT professional

way forward India is the most preferred location for engineering off-shoring Higher focus on R&D ups patents filing by Indian IT firms Indian IT companies focusing on new models like platform-based BPM services and creation of intellectual property

Manager, Asia Pacific at Canonical Ltd, a UK based software company, “At the middle or junior level, employees jump jobs for better salaries. At the senior level it is usually because of disagreements with the owners or the board.” Advani adds that senior executives usually want to take control, they want to make their own decisions and if they are not allowed enough freedom, they decide to leave the organization. MANCER Consulting has noted that the industry is expected to witness high double-digit attrition rates with most exits likely at the junior levels. Exit rates are likely

Tier II and III cities finding favour among IT companies establishing business in India

to be 30%, 20% and 13-15% among junior, mid-level and top management, respectively. The industry is likely to face an overall attrition of 21%, the highest across all other sectors, this year, the report adds.

Lack of growth

Cheap labour, affordable real estate, favourable government regulations, tax breaks and special economic zone (SEZ) schemes make Tier II, III cities likely new IT destinations

Career growth and promotions are also one of the core reasons why employees look for greener pastures. Says Manish Sharma, IT professional, “Despite being a performer, if you stay with the same designation for over four years, doing the same piece of work, with a meagre two per cent annual rise in salary, there is no reason why you should stick

Indian insurance companies plan to spend Rs 12,100 crore on IT products and services in 2014, a 12% rise over 2013, according to Gartner research. This forecast includes spending by insurers on internal IT, software, hardware, external IT services and telecommunications.

November 15, 2014 / Corporate Citizen / 21

workplace to that space. There is no learning beyond a point... Most IT companies carry a very strong brand name, but offer very little or no growth at all.”

Lack of vision/poor communication from top management

The numbers game IT sector to grow at a CAGR of 10%-15% this year and a CAGR of 13.2%-15.2% over the next five years IT sector to add 170,000-180,000 employees this year Industry size to expand to $219-239 billion by 2018-2019 from $118 billion this year, says Nasscom Domestic revenue from IT and BPM sector expected to touch $22 billion in FY 2014-15 India has the potential to build a $ 100 billion software product industry by 2025, according to Indian Software Product Industry Roundtable (iSPIRT). The software products market in India, which includes accounting software and cloud computing-based telephony services, is expected to grow at 14% in 2014. The Indian IT-BPM industry is expected to add revenues of $13–14 billion to existing revenues by 2014-15, according to NASSCOM Total exports from the IT-BPM sector (excluding hardware) were estimated at $ 76 billion during 2012-13. Export of IT services has been the major contributor, accounting for 57.9% of total IT exports (excluding hardware) in 2012-13. The IT outsourcing sector is expected to see exports growing by 13%–15% during FY 2014-15. The central government and the respective state governments are expected to collectively spend $ 6.4 billion on IT products and services in 2014, an increase of 4.3% over 2013, according to Gartner research.

Employees don’t feel part of the organization when they get to know about important changes in top management structures from media reports. As the news has not been delivered to them internally, a fear of insecurity or job loss creeps in.

Global exposure

Most IT sector employees are on the lookout for offshore assignments abroad so that they can increase global exposure. In the absence of any such projects within their organizations, they tend to hunt for others that offer such prospects and projects.

Stress

A lot of young IT professionals work seamlessly with their clients for long hours to fulfil their requirements. They have deadlines to finish tasks, tackle situations and handle services efficiently. They often work on such projects that go on for months or years. They

attrition figures

A look at the attrition numbers in the IT sector 19.5%

Infosys 16%

tech mahindra

17%

Wipro 12%

TCS Quarter ended June 2014

for brushing up skills, offering better packages, restructuring their compensation structures, coming up with career programs, special training programs, crèche facilities, flexible work hours for women employees and workfrom-home option.

Most leading IT companies try to retain employees by having one-on-one discussions at regular intervals, providing opportunities for brushing up skills, offering better packages go through a lot of stress to meet deadlines, to satisfy clients and procure new projects for the company. That apart, as they work on different shifts to cater to client needs, their body clock gets disturbed, which eventually leaves them stressed and drives them to look for more relaxing jobs.

What can companies do about it?

There are often instances when high-performing employees leave the company for better prospects. Instead of finding new replacements and train them on the job, it is better to try to retain employees who have expressed intention to leave the organization. Advani strongly feels that communication is the key. “When an employee is unhappy, someone needs to speak to him to understand why he is unhappy and try to resolve the problem. By letting the right people know and taking necessary measures, you can always retain the right talent.” Most leading IT companies try to retain employees by having one-on-one discussions at regular intervals, providing opportunities

22 / Corporate Citizen / November 15, 2014

“Employee attrition rates are worrisome and we are implementing various initiatives to retain good talent,” said U.B. Pravin Rao, Chief Operating Officer at Infosys in a statement. Infosys has given two consecutive wage hikes, promotions at all levels last April, a restructured compensation structure including variable compensation to enable high performers go up the ladder faster. “We are investing in training and retooling our people,” says the statement.

Hiring spree

Today, the IT and Business Process Management (BPM) sector in India employ about 55 lakh people. The National Association of Software and Services Companies (Nasscom), the trade association of the IT and BPO industry, India, said net hiring by the industry would rise by 6% in 2014-15, adding 170,000-180,000 employees. Infosys plans to hire 15,000-16,000 freshers in FY2014-15, while TCS intends to recruit 55,000 this year, including 25,000 freshers. Mahalakshmi.H@corporatecitizen.in

Corporate crime

Are you on ?

Beware of fraudulent interview calls! LinkedIn, the world’s largest network of business oriented, social networking sites seems no more safe. Its members in India have begun receiving fraudulent interview calls. A true life example BY Vinita Deshmukh

ne fine day in August, I received an email from LinkedIn, the world’s largest e-social network of business contacts, asking for my resume. The mail, written by one Mr Jim Miller, claiming to be LinkedIn’s Human Resources officer, stated that “your resume/ CV has been shortlisted for a job opportunity in USA/India/UK and that a face-to-face interview would be held after they receive the resume.” I had read about a fraud LinkedIn interview in a magazine in the form of a letter to the

editor and decided to check it out myself. So, I promptly emailed my CV. Sure enough, I got a reply asking me to come to Delhi on August 22 & 23 and stating that they would send me the air ticket. The mail also stated that: “Your expected salary range (I had not written any salary expectations) from Rs.11,57,698.99/ Indian National Rupees -Rs.62,05,356.00/ Indian National Rupees per annum and other company benefits which will be determined by your qualification. You have to come with photocopies of all required documents.”

The rider was that, I would have to mandatorily pay refundable air fare to the tune of Rs.24, 500 as security deposit. The email stated: “To enable us to proceed with your travelling formalities, for a FACE-to-FACE interview please come to {#4th Floor, DLF Centre Sansad Marg, New Delhi-100001, India}, you need to remit the refundable interview security fees (Rs.24,500 INR) as mentioned by HRD, not later than WEDNESDAY 06th AUGUST 2014. Being SELECTED or NOT, your interview security fees will be refunded at the time of interview.”

So, I dashed off a mail to the LinkedIn headquarters in California. I wrote: “Is this Mr James Miller a genuine Linkedin staffer…i suspect it is a fraud as I am a senior journalist and my suspicion is based on the money asked for. Kindly let me know so that I can take up the matter further. Please do reply so that I can alert this possible fraud.” I received a reply after two days confirming it to be a fraud mail. The email stated: This is Liz from LinkedIn Trust & Safety. Firstly, I would like to sincerely apologize for the delay in my response. We are currently experiencing a high volume of customer inquiries and your patience is greatly appreciated. The email you mention has been identified as a fraudulent email and was not sent out by LinkedIn or anyone associated with the company. Please be cautious in opening any attached files included in these types of malicious spoof emails as they may contain Malware which could be damaging to your system. To fight against fake emails putting our domain names in the “From:” line, we have implemented DMARC standards (http://www.dmarc.org/) to authenticate our emails. We suggest you contact your email administrator to implement DMARC so they can discard unauthenticated emails too. Your privacy is always a top concern. We’ve worked hard to earn and keep your trust, so we adhere to the following principles to protect your privacy. We will never rent or sell your personally identifiable information to third parties for marketing purposes. We will never share your contact information with another user without your consent. Any personally identifiable information that you provide will be secured with all industry standard protocols & technology. We are sorry for the inconvenience this malicious sender has caused. Kind regards, Liz, LinkedIn Trust & Safety. Vinita.Deshmukh@corporatecitizen.in

November 15, 2014 / Corporate Citizen / 23

24 / Corporate Citizen / November 15, 2014

interview

ease of doing business in india Baba N Kalyani By Chitra Subramaniam Duella

Bharat Forge Limited (BFL), the flagship company of the USD 2.4 billion Kalyani Group is a world leader in delivering innovative auto-component solutions. An international leader in manufacturing forged and machine components, few people know that there is no car in the world that does not have a component from the Pune-based BFL. Baba N. Kalyani, the man who made it all happen is as renowned internationally as he is low-key in India. He led the Indian business delegation that accompanied Prime Minister Narendra Modi to Japan. In an exclusive interview with Chitra Subramaniam Duella, Editor-in-Chief of the News Minute (TNM), he spoke about a range of issues covered by business leaders from both countries, mutual expectations, stumbling blocks and the critical importance of political commitment which the Prime Minister in his person has brought to the table. Excerpts November 15, 2014 / Corporate Citizen / 25

interview Chitra Subramaniam Duella: You led the Indian business delegation to Tokyo. What were some of the groups’ expectations? Were they met?

Dr Baba N Kalyani: Since its establishment in 2007, the India-Japan Business Leaders Forum has enabled us to address problems which impede the economic activities in both the countries by communicating the issues to governments of each side and help fast track the decision making process. Over the past years, members on either side of this forum have cooperated in resolving many bilateral issues, including those related to the implementation of the Japan-India Comprehensive Economic Partnership Agreement (CEPA). Business leaders from either side had set high hopes that Prime Minister Modi will accelerate the reforms process to improve the business environment in India and promote trade & investment between both the countries. Despite the CEPA in place, there is much progress which needs to be made towards enhancing the trade between India and Japan which in fiscal 2013-14 stood at USD 16.3 billion which is only equivalent to 1% of Japan’s total foreign trade and 2.2-2.5% of India’s total trade. Yes, after the summit level interactions between both the Prime Ministers and the joint statement issued by them, there is a renewed enthusiasm and a lot of optimism on both sides about increased economic activity between both the countries. Elevation of India-Japan relationship to a ‘Special Strategic and Global Partnership’, Japan’s commitment to invest FDI worth 35 Trillion Yen and to double the number of Japanese companies in India, the creation of an exclusive facilitation desk in PMO to fast track the clearances in India are some of the most significant moves taken by the governments. I believe that these measures will not only boost the Indian infrastructure sector but also bring High Technology Investments from Japan in Defence and Railways that would boost India’s domestic manufacturing capabilities.

What were your expectations for the manufacturing sector? The joint-declaration speaks of creating manufacturing hubs across India. What should be in place this time next year? Facilitating Japanese investments into India in advanced manufacturing and high-technology fields and encouraging Indian companies to export value added products into Japan, are two areas that I believe, will greatly contribute to increased and better

45% of India’s manufacturing output & about 40% of India’s total exports is attributed to SMEs which provide the largest share of employment after agriculture sector balance of trade between both the countries. The combination of advanced manufacturing technologies from Japan and highly skilled talent pool from India has the potential to create an enviable partnership that carves its unique space in the global manufacturing supply chain. Establishment of Advanced Skill Development Centers, Investments in building a HighSpeed Railway network in India, Collaboration on Defence Technologies and Increased areas of cooperation on the Infrastructure and Renewable Energy front, would collectively add up to a significant benefit to the Indian Manufacturing Sector. The Prime Minister Modi in his address to the Japanese businessmen has stressed on the huge opportunity that India offers and there is no more Red Tape but only a Red Carpet that awaits to attract investment from various domestic and foreign investors. He invited them, ‘Come, Make in India’. The message was well received by the business community. I am sure with the facilitation team set-up in PMO, by this time next year, we will have established one or two model advanced skill development centers, completed the feasibility studies for High-Speed Railways networks between few Indian cities and commenced work in few of the aforementioned areas of cooperation declared.

How does Tokyo see India as a business destination?

India as a market offers big scope for the Japanese company in view of the demographics,

26 / Corporate Citizen / November 15, 2014

wherein India has a large discerning young population ready to spend while Japan has huge ageing population. India’s progress and development presents a big economic opportunity. Japan, being a wealthy net creditor nation can be an important investor in key sectors in India e.g infrastructure, manufacturing, integrated water management, smart cities. Over the last few years, India has consistently been ranked high in the list of most favourable destination-countries for business by Japanese companies. This is a testimony of the long-standing mutually beneficial relationship between our two countries. In the recently concluded summit level interactions between India and Japan, the elevation of the relationship between both the countries to a ‘Special Strategic and Global Partnership’ is testimony of the high levels of confidence that countries and businesses are willing to place in the existing government. The Prime Minister’s resolve to enhance the Ease of Doing Business in India was palpa-

India has consistently been ranked high in the list of most favourable destinationcountries for business by Japanese cos countries and relax norms to qualify for issuing Japanese Visas to Indians.

Both countries stressed the role of SMEs in an industrial take-off. How do you see this?

ble when he stated that there is no more Red Tape but only a Red Carpet being laid out to attract investment from various domestic and foreign investors. In the days to come, I further expect the government to suitably amend various policies and procedures by removing outdated rules, regulations and laws that cause roadblocks and hindrances in doing business.

What are some of the broad political lines that were drawn by both Prime Ministers during this historic visit?

I believe the elevation of relationship between the two countries from a Strategic and Global Partnership to a ‘Special Strategic and Global Partnership’ displays the confidence that both the governments place on each other. They have talked about the relationship not only being economic in nature but broad based and comprehensive extending into cooperation in Defence, Science & Technology, Education, People-to-People exchanges etc., which I consider as quite significant.

Where are the stumbling blocks in India?

The Japanese business group have stressed on the criticality of improving the overall business environment in India by simplification of land acquisition, early implementation of GST, elimination of irregularities existing in taxation across federal and state governments, greater deregulation in the financial and insurance sectors including relaxation of restrictions on external commercial borrowings (ECB) etc.

Where are the stumbling blocks in Japan?

The Indian side has specifically been stressing on the removal of non-tariff barriers, extend access for Indian companies in Japanese markets especially in sectors like marine and agricultural products, pharmaceuticals, IT services, Automotive components etc. The Indian industry also expressed Japan to facilitate further improvement in movement of natural persons between both the

I believe, SMEs play a key role in transition towards a fully developed economy and are the backbone of industrial development. Small and medium enterprises have always represented the model of economic development, which emphasized high contribution to domestic production, significant export earnings, low investment requirements, employment generation and effective contribution to foreign exchange earning of the nation. Today, the Indian SMEs manufactures a whole variety of products from textiles, basic goods to high technology items. 45% of India’s manufacturing output and about 40% of India’s total exports is attributed to the SMEs which also provide the largest share of employment in our country after agriculture sector. The Indian SMEs are acquiring companies abroad as part of the globalization process and are investing in R&D to compete globally. I also believe that with the governmental policies which would address specifically the problems affecting this sector, SMEs would be a major vehicle to achieve our goals.

Finally, what do you expect from Indian industry now that there is Prime Minister leading from the front?

Business leaders have high hopes that under the leadership these two visionary Prime Ministers, India-Japan relationship will further strengthen and both the countries will drive the global economy forward. chitras@csdconsulting.net Interview courtesy: www.thenewsminute.com

November 15, 2014 / Corporate Citizen / 27

social media

Which bank is SOCIAL MEDIA savvy? The social media presence of Indian banks is slowly but gradually improving. The rankings done by Simplify360.com in the months of May and June have been updated based on the current statistics, and there are some major surprises in store. As Standard Chartered Bank and Citibank doesn’t have any Indian specific Twitter handles, only Facebook scores have been derived to bring out these rankings. Simplify360 uses a proprietary tool to listen to the social media conversions happening around the top 9 Indian banks to come out with this ranking. A total of 62,000 social media conversions were studied and researched for this study. Here are some interesting statistics from this research:

BY mohul ghosh Company

SSI Score (June ‘14)

SSI Score (May ‘14)

HDFC Bank

ICICI Bank

Yes Bank

Axis Bank

Kotak Mahindra Bank

SBI Bank

IDBI Bank

Citibank India

Standard Chartered Bank India

166,126

Twitters followers in Q1 2014-15

YES BANK has adopted an interesting strategy to compose tweets around the most happening events, which enables them to maintain their lead on Twitter. In terms of growth of Twitter followers as well, YES BANK is way ahead of others. But, the growth demonstrated by SBI is simply tremendous. SBI rose from having 2416 followers in April to 11,681 followers by June end. As we will see further, they have done some good work on Facebook as well.

211,289

YES BANK Is Dominating Twitter; SBI is Catching Up

ICICI

Yes Bank

28 / Corporate Citizen / November 15, 2014

Axis Bank

HDFC

IDBI

Kotak Mahindra

SBI

11,681

6,421

2,416

10,714

11,002

10,960

14,475

13,536

13,336

8,727

8,065

7,862

14,362

13,857

13,562

June ‘14

100,034

May ‘14

100,057

April ‘14 100,111

HDFC has overtaken ICICI to become the #1 bank inside Indian social media space

204,797

Rank

Axis Bank has the most engagement on Facebook In terms of engagement, Axis Bank has beaten even ICICI, and HDFC banks. Their Facebook strategy is interesting as they are very much into e-commerce and introduction of new ideas. ICICI Has Largest Share of Fans On Facebook Compared to 23% of Axis Bank, ICICI has 28% share of overall Facebook fans within the banking niche. HDFC is closely following these banks at 20% share.

23% Axis Bank

29% ICICI

Share of Voice

22% HDFC

1% SBI 6% Citibank Bank

2% Kotak Mahindra

6% Yes Bank

8% IDBI

3% Standard Chartered

Facebook Growth: SBI is catching up In terms of growth of new fans and followers on Facebook, SBI has beaten them all! In the last three months, they have increased almost three times of their initial size: From 86,679 in April, they have increased to 3,06,863 Facebook fans in June. YES BANK is also growing at a healthy pace. Rest all the banks are able to maintain their huge size of followers on social media.

2,219,241 2,221,303 2,231,151

2,363,846 2,405,310 2,505,718

2,936,483 2,966,191 3,009,989

facebook fans growth in Q1 2014-15

April ‘14 May ‘14

ICICI

Yes Bank

Axis Bank

HDFC

IDBI

582,438 585,736 594,357 281,962 287,127 300,675

290,661 306,863 86,679

203,611 208,493 221,399

629,304

801,044 801,216 811,217

872,719 927,298

June ‘14

Top 3 banks in India have gobbled up 70% of social media mentions among themselves. HDFC is at No. 1 position with 30% share of overall social media mentions, meanwhile ICICI is at No.2 position with 26% share

Kotak Mahindra

SBI

Standard Citibank Chartered India India

mohul@armoks.com

November 15, 2014 / Corporate Citizen / 29

tête-à-tête

First amongst girls D

ynamic corporate leader and first women CEO of India of an engineering Multinational, Padmashree Lila Poonawalla has earned accolades for her dedication, commitment and sincerity in whatever she does. As the managing director of Alfa Laval she brought international recognition to its Indian subsidiary. She also has been the first CEO to head two multinationals - MD Alfa Laval and Tetra Pak. As the `mother’ (to thousands of girls) of Lila Poonawalla Foundation, which annually give scholarships to meritorious and needy girls, she also moulds their overall personality through consistent interaction, mentoring and training programmes. She has held directorships in many reputed organisations such as Bank of Maharashtra, IDBI Bank and many others. Presently she is the director of KPIT Technologies and is enjoying this new role which gives her insight into the working of a highly progressive IT company with focus on engineering and many other varied directorships. Excerpts of her exclusive interview BY Vinita Deshmukh

30 / Corporate Citizen / November 15, 2014

Pic: Yusuf Khan

November 15, 2014 / Corporate Citizen / 31

tête-à-tête

At a time when girls hardly thought of pursuing a professional course, what made you join engineering?

After completing my Intermediate from the reputed Fergusson College, I was determined to do engineering as I always loved to do something different and take on new challenges. Quite a few eyebrows were raised when I told my friends in school that I wanted to be an engineer. In fact, they all burst out laughing. And it was that challenge that pushed me ahead to prove myself. I love to be defiant – that’s me. I chose mechanical engineering as it is action-oriented, where you have to cut metals and drill holes. I must say that although we were the only two girls (the other being Dr Vasantha Ramaswamy) the boys never found us to be their competitors. (How wrong they were) They never thought we would take our studies and career seriously and be successful later in our life.

Tell us about your foray into the corporate world?

As soon as I graduated, I worked as a trainee in Ruston and Hornsby, where I was working on the shop floor. This is where I met Firoz, who later became my husband, friend, philosopher and guide. When Firoz and I decided to get married, I left Ruston, as it was company policy that husband and wife cannot work in the same organisation, and joined Alfa Laval, the then Vulcan Laval, again as an apprentice, as they did not accept my earlier training. I still remember that once when I was welding, the person-in-charge, Mr

Gone are those days when people religiously stuck to one job for many years. Now, colleagues have to be made to feel like entrepreneurs themselves – that is, treating them like partners.” Bharucha screamed and asked me to get out as I was not supposed to do that job. When I questioned why, he said this particular work requires qualified welders to do the job or else it would get rejected. I told him then why didn’t the supervisor tell me so? He said that he was watching the fun. I will never forget the way he asked me to get out. Thereafter, I had a long and enriching innings at Alfa Laval, which was a multi-national company. I had worked in practically every department including gardens, drawing and design department, photography department, HR, finance, manufacturing, marketing, sales, planning and so on. I never grumbled and looked upon each responsibility as a challenge and an opportunity to learn new things. When I took over as MD, I could understand and contribute positively to the progress of the company as I had worked in practically every department. So, I could put myself in their shoes and understand the issues – be it Finance, Costs, Stores, long range planning or design. I always believe that you should never quit and give up, for you never lose anything that you learn. Just get into the job without thinking whether it is menial or below your dignity. Engross, learn and enjoy. Since my

32 / Corporate Citizen / November 15, 2014

school days, I never miss a single opportunity to learn. In my young days, during my spare hours I would learn typing, short-hand, knitting, embroidery, and machine embroidery. I had given four Hindi and drawing exams and was also a part of NCC and Girls Guide, where I also got an opportunity to learn air gliding.

Do you find any difference in the corporate culture when you were at the helm of affairs and the corporate culture now?

Yes, there is a great difference as the industry is very dynamic. Technology is fast progressing. Every day there are new innovations and business has become very competitive. Now, a corporate manager has to be more than just a person with certain knowledge in any one field such as production or marketing. The aspect of handling human resources has become crucial. The job market is so fertile that every day you need to handle new challenges. Developing and retaining of talent is the most difficult task for any management. Gone are those days when people religiously stuck to one job for many years. Now, colleagues have to be made to feel like entrepreneurs them-

find anyone better. How right he has been. I have yet to meet anyone equal to HIM, let alone better than HIM.

What is your advice for youngsters who enter the corporate world?

The attitude should be such that one should learn to enjoy the present situation and deal with it in a joyful way, be it a personal or a professional commitment. Frustration has set in amongst the young generation, as they want to have it all in the shortest of time - all one needs is to have faith in one’s own capabilities, as also one’s own limitations, and you will enjoy the world you are in.

You were one of the directors of the prestigious Nationalised IDBI Bank. Did you enjoy this experience?

selves – that is, treating them like partners. With dynamism in business, re-structuring of organizations has become pertinent wherein participation of employees has become extremely important. Even workers’ unions have become matured enough to realize that they would like to contribute positively and not come to work fonly for two punches and one lunch.

From the Corporate world, your role in the social work is exemplary through the Lila Poonawalla Foundation. Tell us a bit about it.

I always wanted to do something for girls’ education since long. It was not a sudden dream. However, I wanted to sustain it for a long time and for that having sufficient funds was essential. It all started with Alfa Laval gifting me 100,000 Swiss Francs on the occasion of my 50th birthday. To this I added my rewards and retirement benefits that I got from the company. Subsequently, friends and corporates also pitched in, after they observed the dedication and transparency with which we were going about the scholarship awards. Now, it is rolling on smoothly. This is the 19th year of the Foundation and we would be adding 800 new girls to LPF family. The Foundation has become like a family and I am proud of that. When my girls call me `Mom’ and come with a problem which could be personal and seek my advice, I feel so good that they trust me and also listen to what advice I have to give them. A Lila Fellow’s mother who was suffering from cancer needed help. The Foundation pitched in with Rs.50, 000

and the Lila Fellows collected Rs.80, 000. Not that it is going to be sufficient for the entire treatment, but the smile on her face portrayed the sense of belonging she felt towards the Foundation.

Your husband Firoz has been a great pillar of support in all your endeavours. Please elaborate.

He is more of a partner in the process, rather than just being a husband. I was not such a `giving’ person - he taught me the joy of giving. He used to keep saying that givers have a choice - takers have no choice.. So, we hardly ever argue about this issue. We have our frictions too. We do have difference and different

I had earlier been on the board of Bank of Maharashtra, but for a short while. IDBI was a bigger bank and working as an independent director has been an excellent experience. I have had the opportunity to work closely with three different chairmen who led the bank from one step to another in different aspects like project financing and acquisition (Western Bank).I learnt a lot while contributing as a responsible Board member.

What are your future plans both for your professional career as well as for Lila Poonawalla Foundation? As far as professional career is concerned, well I have been happy with what I have achieved, now it is time to share the experiences and business learnings with other professionally managed companies. So I am

I always wanted to do something for girls’ education since long. It was not a sudden dream.” opinions regarding managing the Foundation and have heated arguments not only at home but also during board meetings, but at the end we get the best out of each other. He has been very supportive throughout my career. During my hey days I used to travel a lot, especially when I was export manager and then the MD - sometimes for eight months but he always supported me. He knew I was always moving in a man’s world but he had great faith and trust in me - the two qualities which are important in a husband-wife relationship. He always said that he was capable and that I would come back to him,, and that, I will not

working as an independent director on a few companies, and also as a strategic advisor to some. One other goal is to mentor younger companies and contribute to their success. For LPF I have big dreams still. Next year is the 20th year since inception. Two decades of existence is great, but I want to make this foundation sustainable for many more decades. My wish is to get one of my senior girls to take over from me and manage this foundation with as much love and passion as I have done. I know this will happen. I have a positive feeling. Vinita.Deshmukh@corporatecitizen.in

November 15, 2014 / Corporate Citizen / 33

Corporatesâ&#x20AC;&#x2122; Media Conquest 34 / Corporate Citizen / November 15, 2014

Corporate media

With the take over of TV18 Group by Reliance Industries, questions are being raised on the impact of corporate hold on media. Will it erode media independence? Will it bring down journalistic standards? This was the topic of debate at a recent meet in Delhi, reports Pradeep Mathur

s independence of the media dying in India? Is the growing corporatization of media responsible for its current falling standards (celebrity gossip, junk news and trivia) and ethical compromises (paid news)? Questions like these had begun surfacing since July after Mukesh Ambani’s Reliance Industries Limited (RIL) took over control of Raghav Bahl’s TV18 Group (including CNN-IBN and CNN Awaz). A month later, an intense discussion-cum-debate was organized on the subject by the Foundation for Media Professionals at Delhi’s India International Centre. Speakers included senior journalists Siddharth Vardarajan (former editor of the Hindu and now fellow of the Centre for Public Policy and Critical Theory at Shiv Nadar University), Ashok Malik, Paranjoy Guha Thakurata, Vivian Fernandes (who also moderated the discussion), Samir Patil (Founder and CEO of Scroll. in and co-publisher of quartz.com/india, Govindraj Ethiraj (founder editor of Bloomberg TV and now of Indiaspend, a start-up focusing on data-based journalism), CV Madhukar (Director Investment, Omidyar Group, a foundation set-up by e-Bay to promote independent journalism) and Rajiv Desai (founder of IPAN, which claims to be India’s first PR company). Besides journalism students from the Delhi University, the audience included eminent journalists and media activists. Issues discussed included (a) Do corporate groups like Reliance/RPG/ Aditya Birla gain any added advantage by acquiring news media? (b) Should diversified business houses be restricted from entering news media? (c) Do restrictions on cross-media holdings make sense in this age of the Internet and proliferation of news media outlets, and (d) What are the alternatives for enterprising independent journalists? Telecom regulator TRAI recommended curbing the ownership of news media by big, diversified corporate houses on the plea that they would cast an impact on the stories that get covered. But most speakers did not agree, nor blamed it for falling journalistic standards. Some excerpts from the discussion:

No impact on policies Siddharth Vardarajan Restricting the entry of corporate houses into news media will serve no purpose. Despite such a huge investment, Reliance failed to get gas prices hiked by the new Modi government. It also was charged a Rs 13 crore penalty by the Securities and Exchange Board of India (SEBI) for non-disclosure of a key earnings ratio. Hence, despite media ownership, Reliance has not been able to influence government policies. We need to give it some time to see how it pans out. There is no reason why Reliance would want to kill a brand’s credibility. Nor can you attribute falling quality of journalism to corporate entry, because much of Indian media is a cesspool of bad practices. The fault also lies in our traditional revenue model, excessively dependent on advertising earnings for survival. Today, Internet-led social media offers a great alternative for enterprising independent journalists, students should make the most of it.

Owners call the shots Paranjoy Guha Thakurata I disagree. This is a paradigm shift for Indian media, dictated by increasing corporate influence over content. Though it is too early to predict the impact of RIL’s editorial control, there are several examples of media owners controlling news coverage. Hindustan Times’ owner Shobhna Bhartiya (daughter of late KK Birla) recently did not allow the coverage of the CBI filing an FIR against Kumaramangalam Birla and Hindalco Industries for their alleged criminal conspiracy in securing coal mines. Ashok Malik Though TRAI’s heart is in the right place, it needs some corrections in its strategy. Corporate houses don’t really need to buy big media houses to exert influence. They already have significant leverage in the media. When you have lots of journalists available for a “price”, why should you risk buying the company? I support TRAI’s proposal

for a public regulatory body to keep check on both print and television media, but not for a ban on ownership of TV channels by religious entities and political parties. That would go against freedom of expression. If they can own newspapers, why can’t they own TV channels?

Go Net, go digital Samir Patil Our news venture scroll.in came out of my frustration with the lack of analytical rigour in print media reporting. Thankfully, India’s new generation is moving away from the print media and adopting the Net in a big way. Though launched in January, scroll.in is already getting half a million hits per day. Govindraj Ethiraj Today, there are alternatives available for media entrepreneurs. Our data-driven, investigative journalistic venture, Indiaspend, though a non-profit one, is changing media landscape on the internet. We raise revenue by selling data to media outfits and researchers. Students will do well going with digital media, it offers unlimited scope for innovation. For example, US news website quartz.com, has no advertising clutter on its site, yet is thriving on its rich and engaging editorial content. Rajiv Desai I agree with Govind’s strategy. Many of my MNC clients would happily agree to lend their names and brands to ‘curated articles’ related to their business in the digital space. CV Madhukar Our network, Omidyar cares for public-spirited journalism that has social impact. Our group supports both for-profit and non-profit entities (like Indiaspend) primarily in five areas, including consumer, internet and mobile. We encourage new ways of presenting news and earning revenue without compromising journalistic ethics. mathurpradeep1@gmail.com November November15, 1, 2014 / Corporate Citizen / 35

Nightshift Nightmare

Women are dynamic, highly professional and as efficient as their male counterparts in the corporate world. But they still face social, economic and security hazards, especially while working in nightshifts Freedom of movement and safety are very important to every worker. But sadly, nearly 53 pecent of working women across the country feel insecure, especially during night shifts, according to the Associated Chamber of Commerce and Industry Social Development Foundation (ASDF). Mahalakshmi Hariharan spoke to leading industry experts on their views on women working in nightshifts and their perspective on the safety and security of women at work. 36 / Corporate Citizen / November 15, 2014

debate

Lucky Kulkarni

President HR and Admin at a multinational company has some advice for women in night shifts “Women in night shifts should be alert and professional while dealing with people. They should never entertain anyone personally, midway. They should only go directly to their work/home and not detour to meet friends or acquaintances, unless there is an emergency,” she says. There’s nothing that women can’t do. It can be a wonderful experience for women to make their careers and support their families, while balancing both work and home judiciously.

Capt. Sanjiivv B Batish Head of Swaraksha

“Every woman needs to build her own safety net. There is a need to change the way women approach their challenges. At Swaraksha, we run workshop modules for women in the professional world.” Swaraksha is a unique program run for the safety ans security of women. The program is designed on the basis of ‘UNDP survey on safe cities for Women’, interaction with police officials & victims of assault. Swaraksha trains women on various techniques that require no martial arts skills. This program is a simulation of your everyday life challenges. Most people associate safety only with fighting or martial arts techniques.

The fundamental to any safety enablement is to know how to avoid getting into potential risk situations. The organisation believes that getting out of a risky situation by fighting is in fact the last frontier of self defense. In the past, Swaraksha has conducted workshops for leading giants like Microsoft, Oracle, SAS, ZS Associates in India, to prepare women employees take charge of their own safety and well-being.

Dr Deepak Deshpande

Senior Vice President, Human Resources at Netmagic (An NTT Communications Company) “Working at night can lead to lower productivity, poor decision making, mistakes, even accidents. It is therefore important to learn to prepare for night shifts and manage daytime sleep to minimize the risk of personal injury and property damage.” “With women representing more than 24% of the workforce in India, personal security has become central to their physical, intellectual, emotional, economic and spiritual well-being. Gender equality must become a reality. What better way than ensure that women are safe at the workplace, by creating an atmosphere conducive to increased participation of women? Documents such as driving license, photo ID, address proof should be collected from drivers, security guards and all casual staff. There should be 24x7 operational CCTV (closed circuit television) cameras installed at vital locations such as entry/ exits, common passages and GPS based monitoring of cabs/transport vehicles with panic buttons. Not just that, a code of conduct

agreement for employees and vendors with clearly defined behavioural norms, and importantly awareness and training on safety and security is essential.”

Amit Pandey

Vice President, Head – Procurement, SCM, HR & Admin at Tikona Digital Networks Pvt. Ltd., on the changing trends “The trend is changing. There is no gender bias—whatever men can do, women can also do with ease. Corporates should give equal opportunities to women, based on their work profile, with adequate security measures. Whether a male or female employee, there should be a transparent work policy for all.” Tikona Digital Networks Pvt. Ltd follows a transparent policy, provides flexible working hours and work-from-home options for both men and women, if needed. “We don’t let women work beyond 12 am, if they do, we ensure they have a security guard in the car,” says Pandey.

Rohit Dhody

Senior Regional Director-Human Resources at Syniverse affirms safety is top priority. “Industry bodies like Nasscom have set some norms for women in night shifts. Most companies bar women doing night shifts, except a few like IT, ITeS, BPOs and the textile industry. Women’s safety, whether at work or while heading home from work, should be the top-most priority

for every organisation.” In his own company he says, “We are very accommodating. We do have women doing late shifts at our organization, we try to have more men than women doing them. Women are equipped with all the important numbers of emergency helplines, transport vendors, police, company contact points to call if they feel threatened or uncomfortable. We always make sure there is a security guard to accompany them right to their doorstep. During working hours we ensure there are enough security guards and helplines to call if they face any misbehaviour from their coworkers.”

Yasho V. Verma

former Director and COO at the LG Group, now management guru and manpower mentor “There is no problem with women working in night shifts, if they have a pick-up and drop facility available with a reliable driver. It is important that women should always travel in a group, with a guard accompanying them for security reasons,” he says. ”There are so many sectors like BPOs and call centres where women work in night shifts. It is important to have safety measures in place.” Verma recollects his experiences during his long association with the LG Group. “The company insisted that women employees leave on time, unless there was pressing reason to hold them back. Then the company would make sure they were dropped back safely at their residences.”

Mahalakshmi.H@corporatecitizen.in

November 15, 2014 / Corporate Citizen / 37

Successful start-ups

Tasty Khana through smartphone TastyKhana, a start-up company by IT professionals Shachin Bhardwaj and Sheldon D’Souza ensure that thousands of people across India get their favourite restaurant food at their doorstep

ow would it be if you could get your favourite food from your favourite restaurant home-delivered, even if the restaurant is on the other side of the town? It would be awesome, wouldn’t it? And, you don’t even need to make a phone call to place the order – you could do it directly from your smartphone app! That’s exactly what Pune-based start-up TastyKhana is doing to ensure thousands of people across India get their favourite restaurant food right at their door-step. We recently got the chance to interact with Shachin Bhardwaj, one of the two co-founders who have made TastyKhana a reality. Shachin was born in Bangalore, but most of his school and college days were spent in Pune. He completed his Computer Engineering from MIT College, Pune in 2004. Having spent the first two and half years of his professional life in IT industry he decided to take the plunge into entrepreneurship. There is an interesting story how TastyKhana’s idea came into existence. During early days after completing his education, when Shachin was working at Synygy, he started maintaining an excel sheet having the menus of the local restaurants. The company used to offer free food to their employees who worked after 8 pm, and they could order food from outside, 38 / Corporate Citizen / November 15, 2014

Pic: Yusuf Khan

BY anand karwa

Pic: Yusuf Khan

financials which Shachin happen to do quite often. The ordering procedure soon became irritating, as he had to enquire about the menu each time he would call to order his food. This made his excel sheet immensely useful for ordering food from various restaurants across the city. People also started forwarding his list to their friends via email. This made him realize the potential of running such a service and that led to him quitting Synygy. Shachin and Sheldon launched TastyKhana in 2007 with high spirits, but soon realized that just launching a website doesn’t bring in business. So, in order to sustain their business, they also added table reservations, party booking, and a host of other things. However, it was still not smooth sailing. He even delivered the food and created menus for restaurants for sustenance. They were about to run out of money when an investor howed interest in their business. Shachin pointed out in our conversation that “You don’t get money if you chase it. Money will come to you.” Hiring good people without paying them much, conducting daily operations and raising funds were a few of the many challenges faced by him during the first few years after starting TastyKhana.“I was continuously working for 14-15 hours each day for 365 days. We lost our friend circle because we didn’t have time to hangout with them, not even on Sundays.” Shachin said about his early days with TastyKhana. In our conversation, Shachin mentioned the importance of starting early. He said youngsters can take up big challenges with a will to prove people wrong. They don’t have any responsibility or liability and that’s why it is very important to start early. His advice to

college graduates or aspiring entrepreneurs is to start as early as possible. He says that in recent times, mobile devices have started to contribute to a significant portion of their revenue since the last few years. He says, “Food delivery business is about instant ordering and quick delivery. It’s not like normal e-commerce business where the customers get the delivery 3-4 days after placing the order.” Recently, TastyKhana has introduced many new features to make the entire ordering process seamless. For speeding up the online ordering process TastyKhana has provided the restaurants with a device called as “Express Box”. So, when a customer orders something, the order request comes out as Kitchen Order Ticket (KOT) from the “Express Box”. The restaurant manager just has to press the accept button and hit any estimated wait time button to confirm the order. For most of the cases, this process takes less than a minute and thus makes the entire ordering process super-fast. TastyKhana’s ever growing list of restaurant tie-ups now cover over 9,000 menus across 150 cities at the moment. Shachin is understandably proud about how he has built TastyKhana, “Our customer care, number of menus and our technology keeps us ahead of the competition.” We asked Shachin about 3 most important lessons that he has learnt in these 7 years and he was quick to point out that entrepreneurs who are just starting off should be patient and should never give up. He said, “Don’t run after the glamour of the entrepreneurship. You have to work day and night to reach the stage when you will be talked about on TV and in print media.” He also pointed out that students who have just passed out should not look at just big

Turnover - 10 Crore Employee count - Nearly 100 and growing Presence - 160+and counting Years since inception - 7 Restaurant Menus - Around 9000 and growing Growth - 400% growth over last year companies. They should try and work with start-ups. He says, “The opportunity to work in a start-up is like a chance to sit on a rocket. Do not reject it.” He also advises the young entrepreneurs to be flexible. It might happen that the side project that you took up for sustenance offers more opportunity than your main goal. Do not be rigid or you will miss the opportunity. Your team is the most important part of your start-up. You ought to treat and pay them well. “People bring business. Hire the right people and keep them happy.” Do not get into entrepreneurship just for the sake of being an entrepreneur. These days many students are jumping into the entrepreneurship bandwagon just for improving their profile so that they can get admitted to a good business school abroad. He also advices recent graduates to get into entrepreneurship only if they think that they are solving a genuine problem faced by many across the world. “The earlier you start, the better you capture the market. And finally, it’s all about execution. It is very difficult to sell an idea in India. My security guard will also have many ideas to start a business. So in the end, it all comes down to how you execute your ideas”, he signs off. anand@armoks.com

November 15, 2014 / Corporate Citizen / 39

student of the fortnight

The $100,000 Fellowship At a time when most engineers are busy pursuing lucrative jobs in multinational corporations, MIT graduate Sidhant Pai has chosen a path less traveled. by Suchismita Pai

aising over $100,000 while still at college for a project that marries cutting edge 3D printing technology to everyday throwaway garbage is not something to sneeze at. Sidhant Pai, a fresh graduate from the Massachusetts Institute of Technology (MIT) Class of 2014 did just that and is now in Pune to work on

his idea. His business idea, Protoprint, creates free trade plastic filament from throwaway plastic collected by members of SWaCH, a co-operative of waste pickers, and helps upcycle the plastic to several times its raw value. Not only does this mean that less plastic is added to landfills, it also means that the waste pickers who work at the base of the recycling pyramid get more than they

40 / Corporate Citizen / November 15, 2014

Pic: Yusuf Khan

would by selling the plastic in its existing form of bottles and containers. The processes, technology and machines he developed, have been prototyped and he is scaling the machines to a production environment by collaborating with a local plastic extrusion machine manufacturer.

Starting up

Raising funds for a social enterprise like Protoprint, where it is not just about the bottom-line, is not an easy task â&#x20AC;&#x201C; but passion for your work certainly helps. Having worked on some other socially and environmentally relevant ideas like solar power and low cost portable X-ray machines while at MIT, this was just the next step in the right direction. He bagged the very prestigious Echoing Green

Sidhant bagged the very prestigious Echoing Green Fellowship for Social Entrepreneurs which provides a springboard for a young person, ready to build a career with impact, to realise his or her contribution towards solving the worldâ&#x20AC;&#x2122;s biggest problems

What is 3D printing?  3D printing or Additive manufacturing is the process of making three dimensional objects by adding material layer by layer in a programmed manner to create a specific object. Material such as plastic is added layer by layer in a controlled way as per a computer aided design till the desired object is created. A3D printer is a computer controlled robot.  The technology was first developed at the Massachusetts Institute of Technology (MIT) and at a company called 3D Systems. In the early 1990s, MIT developed a procedure it trademarked with the name 3-D Printing. The Plastic bottles etc being carried into the shed for processing.

 Traditionally, 3D printing has been used for rapid prototyping – for design iteration and prototypes, as it is less time consuming than methods that involve dye casting and injection molding.

Fellowship which will enable him to work on his dream in India over the next two years. The Echoing Green Fellowship for Social Entrepreneurs provides a springboard for a young person ready to build a career with impact, to realise their contribution to solving the world’s biggest problems.

Beginnings

When youngsters pursue what they like, they work hard and do well at it. That in a nutshell is Sidhant’s story. A good student all through school, Sidhant had opted not to go for any extra coaching classes in Class X and had managed his studies by himself with the help of his school teachers. When the results were announced, he had come third in Pune city as per the CBSE Class X results, and was felicitated by Sakaal Newspapers. But Sidhant’s story is not all about his marks alone. He was in the student body ever year he was at DPS and went on to become the school head boy. Juggling several responsibilities including the head boy and basketball captain while also studying for the Class XII Board Exams, Sidhant did well at academics as well. Sidhant has played and won medals for table tennis at the State level while in school in Pune and continued to play the sport at MIT where he was the president of the college club. He was the Cadbury’s confidence Champion where he met Suma Shirur, an Indian Archer of international standing. He was also selected as Hungama TV Captain from Pune. A voracious reader, Sidhant has taken part in elocution, debates and drama at school.

Surging forward

When he gained admission to the prestigious MIT, it was a very proud moment for all. While there, he chose to work toward a degree in Environmental engineering. His projects there took him to Tanzania and Nicaragua

Cleaning the bottles/ plastic waste before being flaked.

His not-for-profit company - Social Seva, www.socialseva.org, the motto for which is ‘Helping people help themselves’ will be active in the field of education among other places and now he wants to put his knowledge to good use in India. Having won several fellowships, he plans to work on issues like Fair Trade plastic recycling filament, air quality, atmospheric modelling and climate change. Sidhant is also a 2014 MIT D-Lab Scale-Ups Fellow. He has bagged the Legatum fellowship as well as the MIT ideas challenge. His not-for-profit company - Social Seva, www. socialseva.org, the motto for which is ‘Helping people help themselves’ will be active in the field of education for the marginalised and under-privileged children, gender sensitisation and other socially relevant issues. You can read more about his work at www.protoprint.in paisuchi@gmail.com

Are You our Student of the Fortnight? If you know someone who has done something exceptional in their academic pursuits or career – whether it means starting an innovative business venture, spearheading a social initiative, delivering a stellar academic performance, landing a plum assignment or anything else that is exceptional – nominate him /her for our Student Of The Fortnight feature. Or if you think that person is you, nominate yourself! Submit your nominations to: corporatecitizenwriters@ gmail.com

November 15, 2014 / Corporate Citizen / 41

the ad world

The

Evergreen Amul Girl A closer look at the phenomenon that is the Amul gal – and what makes her tick! BY Kalyani Sardesai

“Maria! Share-a-Poha with Sachin…”

This sage advice from India’s best loved cherub on the backdrop of tennis ace Maria Sharapova asking “Sachin who?” not only took the edge off frayed tempers, but actually made hitherto angry Sachin fans crack up. Typical humour from the cheeky Amul mascot who has a pointed opinion on everything under the sun. From political scandals to movie gossip to the latest celeb spat, she has to have the last word on everything—even if it makes the subject go ‘ouch’! The butter sales haven’t stopped galloping since the spunky brat made her sensational debut on Mumbai billboards 48 years ago. (See box) And even as the adorable kid—complete with polka dot dress, half tied pony, orange face and blue hair keeps abreast of the times in her latest 3D avatar for TV screens, she continues to retain her hallowed position as one of the most instantly recognizable advertising mascots of all time, both nationally and Internationally. Created by Sylvestar Da Cunha in 1966 to outdo Amul’s competitor Polson, the butter girl was first used in outdoor ads in Mumbai. In fact, homemakers based in the vicinity of Charni Road still recall the commotion outside their homes (where the ads were put up), while people stood and guffawed at the adorable kid mouthing the smartest 42 / Corporate Citizen / November 15, 2014

Can you think of any other brand that signifies butter to India? The creators have managed to place their finger on the pulse of Indian culture that celebrates children, especially the naughty ones -Bharat Dabholkar

The Gujarat Co-operative Milk Marketing Federation Ltd which markets the extremely popular Amul brand of milk and dairy products registered its highest ever growth rate of 32.1 per cent, to achieve a turnover of Rs 18143.46 crore during 2013-14. The organization managed to achieve a 23 per cent cumulative average growth rate (CAGR) over the last six years by leveraging on several marketing and technological innovations as well as enhanced distribution reach. In fact, the group turnover of GCMMF and its constituent member unions, representing unduplicated turnover of all products sold under Amul brand was over Rs 25000 crore or $4.2 billion. (May 15, 2014, Amul press release) one-liners ever. It was love at first bite—if not sight—for India, and the rest as they say, is history. She was cute, everyone’s daughter, sister—and yet with an intelligence all her own. The use of Hinglish in her dialogue—which passed cutting witticisms on the latest controversy on the block---only added to her rise. The calls just wouldn’t stop at Da Cunha’s office, and the creative team, including artist Eustace Fernandes knew they had a winner on their hands. “We knew the campaign was going to be successful,” Cunha has been quoted

several times. But for just how long---is the stuff legends are made of! Ad stalwart Bharat Dabholkar who worked on Da Cunha’s client servicing team for 15 years between 1978 - 91 made an impact when he Indianised her polka-dotted clothes and diversified with regional ads in Hindi, Marathi and Gujrati. “But I think what worked most in favour of the campaign was the utterly free hand that the client gave us...at no time was there any interference. We were allowed to work it the way we saw it fit,” he shares. “The use of Hinglish was a big hit too. People took her to heart big-time.” “There are several things that made her such an icon!” says Pune-based ad professional Abhishek Kulkarni. “The use of outdoor media—mainly

billboards at a time when there was limited TV, and every brand was going print, worked big time in her favour. So did the classy humour, which has managed to keep pace with the changing times!” Artist & illustrator Tejas Modak analyses her appeal: “The artwork is imaginative and of high quality, and she is an original. Besides, the creators have managed to place their finger on the pulse of Indian culture that celebrates children, especially the naughty ones. Here’s this little girl, making the most pertinent observations or passing the most sarcastic jokes, is without fail delightful.” Amit Patwardhan, Director (Film unit) at the media agency Indian Magic Eye Pvt. Ltd. says her biggest contribution and achievement is to make Amul a synonym for butter. “Can you think of any other brand that signifies butter to India? And the creators have managed to place their finger on the pulse of Indian culture that celebrates children, especially the naughty ones,” he says. Dabholkar stresses that the lines were not written for kids. Even so, he used to receive plenty of requests from children asking for stickers of the Amul girl in her latest outing. “I guess she clicked with both adults and kids. Visually, she worked for kids while her topical humor was much admired by grownups,” he says. Dabholkar notes that the real challenge in the coming days is to keep her relevant, not just as a smart social commentator, but as a mascot selling butter. “While it’s great to have her make social comments, its not to be forgotten that she’s here to generate sa les. Most of the ads must be linked to the sale of butter; that’s the only way she will keep going on and on.” kalyani.sardesai@gmail.com

November 15, 2014 / Corporate Citizen / 43

style

It’s a tie! Decoding the allure of the classic neckpiece for men by Mohini Kirtane

ho would imagine that a strip of cloth 52 to 58 inches long and 3¼ inches wide at its widest point can completely change the appearance of a man? The tie gives a formal touch and best of all what better personal gift to give to your father, husband, fiancée, boyfriend or son. It can be made to fit within the budget though it could also be exorbitant. In fact it is said that in the days of King Charles XI he is said to have spent 20 pounds 12 shillings on a single cravat! The formal attire of a shirt and a tie gives grace, dignity, and a certain elegance to the style of a man’s clothes. Its historical origins can be traced to the cravat, which was a finely elaborately decorated fabric used by the French. It originated with the Sun King Louis XIV and was brought to England in 1660 during the reign of King Charles II. People tired of Oliver Cromwell’s rule wanted a change and now dressed a la mode, wanting fun and elaborate clothes. The new cravat became the rage with lace used as trimmings and elaborate ways of knotting, the commonest being the four-in-hand necktie (used by the British horsemen who used this knot to tie a scarf round their neck while holding the reigns of four horses in the other. Then we move on to Ascot with the bow tie Ascot coming into fashion. This tie was named Ascot after the exclusive horse race at Ascot. The Bolotie was associated with Western Cowboy attire.

Colours and styles

Colours meant association with profession e.g. blue and white was associated with sailors, white with lawyers. It was Beau Brummel who stressed on simple functional 44 / Corporate Citizen / November 15, 2014

discreet clothes, no frills and the trend for clean white neck clothes began. In fact Beau Brummel changed his cravat as much as three times in a day because he wanted to maintain the whiteness and the crisp effect of a lightly starched and carefully folded tie. The poet Lord Byron started floppy bows in white and it was not long after that women followed the fashion. In 1920s Paris, French designer Jean Patou started designer ties and soon film actors Humphrey Bogart, Elvis Presley became style icons sporting their own styles. Ultimately there were no less than 32 ways of knotting ties /cravats, the most complicated being Duke of Windsor’s knot.

From utility to fashion

Funnily though the tie or cravat was created not for decorative but for utilitarian purposes. The basic idea was to keep the throat warm. Other people who set the trend of different styles were Beau Brummel in the 19 century and Jem Belcher, a prize fighter, who wore a blue bandanna before him.

Which tie?

A high class tie can be determined by three features. 1) Higher-wool content, better the tie 2) The inverted ‘v’ called the Bar Tac should be visible 3) A loose black thread which when pulled results in the tie gathering. These are the marks of a handmade quality tie. Famous tie brands like Zodiac, Raymonds, Gucci, Armani today reflect their own varied styles of colour, stripes, floral, plain colours highlighted with the emblem. In fact, the tie is the hallmark of an institution with own ties giving a formal disciplined look. mohinikirtane@gmail.com

Do’s and don’ts of wearing a tie l Knot right: it should not be too long or too short. The knot should be firm l It should end near the end of the belt buckle l It should complement the suit and shirt and not clash with the shirt in colours and patterns l The width of the tie should be proportionate to the body l It should follow the dress code l It should not be wrinkled or stained, hang on coat hanger and use your ties in rotation l Accessories like tie clips should accentuate the tie and so should be sleek and elegant

career corner

Social Media Marketing

A Flash in the Pan OR the Ultimate Career Choice? Corporate Citizen investigates the Rising Phenomenon of Social Media Marketing. By Neeraj Varty

t may be a career that may not even have existed a few years ago, but Social Media Marketing is fast emerging as an indispensable tool for promoting businesses worldwide. Over the last half-decade, Social Media Marketing (also known as Digital Marketing) has ubiquitously been embraced as an integral part of a company’s marketing and PR mix. Although relatively new, SMM has the potential to disrupt the way companies present themselves to their audience. Businesses that leverage their Facebook, Twitter and linkedln accounts have been known to have a definite edge over the competition. With Social Media now officially becoming the world’s top internet activity, SMM has emerged a highly coveted career choice. In our first edition of career corner, Corporate Citizen chats up with Zain Siddiquie, a young Social Media Manager and budding entrepreneur, about the pros and cons of SMM as a career choice. How important is social media/ digital marketing from a business perspective? Today organizations are not about Business-to-Business or Business-to-Consumer marketing anymore. It is now all about Peer-to-Peer marketing, and in that context social media is the life-line of modern day marketing. From branding, sales, customer service to even job hiring, social networks have integrated themselves into the fabric of everyday operations. Social media marketing was a novelty five years ago. Today it may be a rage, but is it likely to remain relevant in the next decade or so? Social is the way that technology will push businesses. More and more dependence on this model will happen. But with that more of it will become automated. Human intervention will be needed only at strategic points. Employment will decrease, not increase because of it. That being said, a background in social media management will make a candidate highly desirable in the long run, especially in corporate communications and advertising.

First and foremost the candidate must have a learning attitude. Without self-driven curiosity, multi-tasking in social media is not possible What do organizations look for in candidates when they interview potential Digi/ SMM managers? First and foremost the candidate must have a learning attitude. Without self-driven curiosity, multi-tasking in social media is not possible due to the evolving nature of technologies. Also, the candidate must have empathy as his job is to understand the audience and manage communities. An MBA graduate may be preferred as it gives the candidate a more rounded view of why and how to go about his job. What formal education do you need to become an SMM manager? Are our educational institutes equipped to provide the required training? There are not many formal training programs for SMM managers in the market right now. It requires a very unique skill set which is a mix of many disciplines e.g. consumer behavior, storytelling, analytics, brand management, etc. Many SMM managers are forced to evolve by trial and error. Our educational system is unlike today’s online scenario and static in nature unless revised every 5 years or so. It needs to be done faster.

Is SMM different from a conventional job? if so, how? I don’t know what a conventional job is since I’ve always been in love with what I do and the passion to iterate the cycle of learn, understand, implement is all that matters, no matter what so-called JOB you may have to do. How do social media managers stay ahead of the curve? There are several tools for SMM managers to learn the trade. I would recommend everyone interested in digital marketing to follow Smartinsights and Socialbakers for the latest trends in the industry. It is very important to learn how to stay on top of things and then automate as much as possible. That is the sign of a good entrepreneur. What salary packages can a fresher expect? SMM managers get an avg. salary package of 3.5 CTC approximately for a full-time job. Although mostly there is a trend to hire part-time interns but that is a malpractice and should be discouraged as it does not lead to any results. neeraj.varty@corporatecitizen.in

November 15, 2014 / Corporate Citizen / 45

entrepreneurship

Look before you plunge into a venture BY mohul ghosh

start-up or a new business is much more than just a registered company as per the laws of the state; it’s like a flower nourished by relentless zeal, beautified with the colors of new hope and a new beginning. As per Small Business Administration (SBA), a USA govt. agency which provides support and guidance to small scale enterprises, six out of ten businesses fail during the first four years of their operations. And the ratio declines as number of years increases. In a separate research conducted by Shikhar Ghosh, who is a senior lecturer at Harvard Business School, it was found that 75% of all new businesses never return any money to the venture capital. Additionally, The National Venture Capital Association, which is a powerful association of venture capitalists in the USA says that 25-30 per cent of start-ups have failed to perform. If we had known the predictable reasons which cause such failures, there would be no failures in future! But yes, there are some inherent patterns of these failures, which we will discuss here. A new entrepreneur, who has just started up can relate with these pointers, and help his passion and zeal to survive.

The Reasons

Money – The Root Cause

It’s time to face some harsh realities now: Money is the single biggest factor which causes most of the failures. As observed in most of the startup failures, as capital fizzles out, the passion and the zeal somehow

46 / Corporate Citizen / November 15, 2014

weakens and a stage arrives when sustaining business operations is no longer viable. The keyword here is: Growth. Entrepreneurship is all about exhibiting exponential growth, a factor that entices venture capitalists and investors to put in their money. In case you are satisfied with the way the business is running and revenues are flowing in, then I am afraid it’s a wakeup call for you; revenues aren’t the point here, it’s the profits. There should be a gradual increase in the profits, every month/ quarter/year in order to remain a sustainable business venture. In case the entrepreneur has to cut some corners, let it be. If you want to protect your dream, you will have to do it yourself.

not be emotional at all. A business needs profits to grow, and only logical decisions, backed by data can help that. Emotional decisions, based on sentiments and fantasy can bring down a start-up faster than anything else. You can term that as a ‘psychological price’ of being an entrepreneur, but that is the fact. You need to be emotionally strong and logical while making the decisions related with your startup. Emotions and businesses don’t always mix well, and this is again, one of those harsh realities of entrepreneurship which one should remember always.

An entrepreneur should remove all fear and shyness while nurturing his startup. And one of the biggest hesitations is seeking help together, which make it extremely important that your frequencies match. Wrong business partner is another one of the most crucial reasons for business failures. There are several reasons due to which a business partnership doesn’t work; and communication is one of the strongest reasons. Be transparent and open regarding every financial or non-financial aspect of the startup with your business partner to avoid any future issues.

Shying Away From Seeking Help You are not the centre of gravity; your customers are

An entrepreneur should realize that he is not the centre of gravity of the business; his customers are! Before even planning to sell the first product, an entrepreneur should study his target audience, his potential customers and decide what exactly are his needs. Don’t just stand in their shoes, but walk, or even better run in them. Do market research and get the data. Legendary sales experts and marketing coaches suggest that you should know what your customer wants, even before they themselves know it.

Choosing Wrong Business Partners

Being Emotional and Illogical

A start-up is no doubt a result of passionate love. But the decisions of the start-up need

In a start-up, the most important person besides you is your business partner. Some business experts claim that selecting the right business partner is as important as selecting the right life partner! You will be sharing successes, failures and uncertainties

An entrepreneur should remove all fear and shyness while nurturing his startup. And one of the biggest hesitations is seeking help. You don’t have control over everything, and the fact that you are running a start-up means that you don’t know the answers! Admit the fact, and mentally prepare yourself to take help and assistance from industry experts, as and when required. Forbes says to build great companies, you will need great mentors. As simple as that. The growth stage of an entrepreneur requires that he kills all hesitation and selfdoubt when it comes to protecting his dream, his start-up. In case you don’t feel like asking for help, despite knowing that your startup needs some urgent strategic help, remember the fact that it’s not about you, it’s about your startup. It is said that the default state of any startup is failure. The pointers mentioned here haven’t been written to scare you off, but to remind you that compared to success, failure is more common in this business, and you should be well prepared to handle it. mohul@armoks.com

November 15, 2014 / Corporate Citizen / 47

festive gifts

Green every festive season!

BY Swati Kumari

estive season is the time to cherish relationships whether it is at home or office. To build a strong bond with employees and clients, it’s essential for the corporate world to look for outof-the-ordinary products. Spreading awareness by encouraging people to conserve, protect and reuse has become a mission for many around the globe. With this swell in the green movement, you should pick from these eco-friendly gifts and do your bit as a socially conscious citizen.

Let there be light

A creatively crafted lamp can go a long way to mellow the mood after a tough day’s work. So pick up one of the hand-created customizable gifting options with a literary touch for your coworkers or employees. “Kavi is an initiative to make poetry come alive in living spaces as viable, affordable and useful visual concepts. What sets us apart is that each of these is totally hand-created by our team of dedicated artists, and can be personalized with a little note or poem,” discloses Amit Singh, co-founder of Kavi - The Poetry-Art Project. Launched in August 2012, Kavi has stored varieties of lamps and key hangers from upcycled wine and beer bottles, craft clocks, wall-art, bags, cushion covers and much more in their kitty. “The Kavi beer

mugs are a new addition which are made from vodka bottle and anti-corrosive pure sheesham wood,” adds Singh. www.kavipoetryart.in

Upcycle the universe

“Brighten up your dear one’s day, and also save the environment simultaneously as this is what Green The Gap (GTG) is all about,” reveals Vimlendu K Jha, the mastermind behind NGO Swechha. He says, “We have re-

48 / Corporate Citizen / November 15, 2014

cently started a new venture of candle-making with underprivileged mothers - as a means of creating sustainable livelihoods.” These candles are up-cycled from waste and finely hand-made into gorgeous products for your enjoyment. You can choose from eleven different types of candles to choose from, in all shapes and sizes, made from all types of unusual material. Through reusing waste in innovative way to create high-quality, useful products, GtG empowers consumers to make

choices about their shopping habits, “We help provide a great opportunity for corporates to introduce a green gifting culture. Festivals are times of celebrating the divine. And, we believe that conscious buying is an act of devotion and respect towards our common Mother Earth,” avers Jha. www.greenthegap.com

Pick from these eco-friendly gifts and do your bit as a socially conscious citizen to make the environment greener

Plant it right

Perk up your entrance with an animal’s smile. No office is complete without a little bit of green as plants add colour and life to the much serious ambience at the workplace. Whether it’s the reception areas, executive cabins or workstations, get planters that blend in with your organization’s image. “Fostering eco green, protecting the animals and birds, creating a green space, through a seamless blend of innovative practices that touch, move and inspire others seem to be the driver,” says management professional, Harpreet Ahluwalia, who incepted Earthly Creations, a decade ago. “Corporates can help take the green revolution to new heights by greening of the board rooms, canteens, work areas where in these creations with plants lend a touch of sensitivity and freshness across spectrum,” she adds. Ahluwalia creates garden accessories using terracotta, wrought iron and bamboo and on offer are animal-shaped planters, hangings, bird baths, fountains and plant stands et al. www.earthlycreations.in

Juty effect

“We all make investments to have a secured future for our family, for our retirement etc., why not invest in the environment by using

earth-friendly products?” questions Sunny Puri, owner of Avisha Creations who create and produce eco-friendly products made of jute and cotton. He adds, “The reason we chose jute is because we wanted to spread environment-friendliness. Our goal is to offer classy environment-friendly products like iPad covers, clutches in jute, while our sec-

ond motive is to empower the less-privileged by providing them employment.” Their product range includes stationary items such as passport cover with notepad, training folders, tablet covers, utility folders to fashionable items like clutches, wallet, bags to envelopes and pouches. info@avishacreations.com These are just a few examples, Scout for such environment friendly gifts in your city or simply google for more addresses and ideas. And of course, you could rely on the trendy e-retails shops for this hunt. swatikumari@gmail.com

November 15, 2014 / Corporate Citizen / 49

taking off

I believed in myself Sneha Singh, who recently completed her PGDM in Human Resource Development (HRD), is successfully placed with a leading IT firm. She talks about her journey as a post graduate student with a prestigious institution and her first break.

y institute has shown me the pragmatic scenario of the corporate world. I learned the 3 Ds there--Discipline, Dedication and Determination. These qualities have helped me to stand out in the organization in terms of punctuality, conduct, sincerity and domain knowledge. It’s not just about the academics, but also about all the other things that changed my outlook towards life and the roles that we ought to play. My journey began on the 18th of July 2012. I was slightly late in joining the institute and sadly missed all the fun during the induction program, BAM presentation and the Lonavala trip with classmates. Our academic sessions began…since I was a BBA graduate, i could easily follow most of the subjects. However, I found statistics to be really tough as I am not good at Mathematics. Our first interface with the corporate world was in September 2012 when we were sent for the Corporate Interface Program. Here, we made presentations to the corporates. It taught us how to get into the corporate world and how to interact with top level corporates with confidence. My first year in college was focused on academics, which was quite painstaking. But my interaction with the faculties and the presentations built my confidence. These two years have been a phase of continuous learning. This college provided me a platform to discover myself. A good mix of academics and extra-curricular activities brings out the best in everybody. Our second year begun and I got placed with a leading public sector firm for my internship. These two months in the corporate world taught me how to work and make a stand in the organization. After my internship, the most awaited Campus Placement Season begun and companies started visiting our campus for recruitments. I sat for my first interview with a prominent bank on the 6th of November 2013. From then on, I have been really patient in getting my placement. I didn’t lose hope and kept trying. Clearing group discussions was never a problem but I use to get rejected in personal interviews. Sometimes I never really understood the reason for being rejected. Finally my patience, hardwork, determination paid off on the 30th of May, 2014, when I got placed with a leading IT firm in Pune. My advice to the juniors: 1. Be confident 2. Do a mock interview 3. Speak out--interviewers are generally helpful and they don’t mind 50 / Corporate Citizen / November 15, 2014

Our first interface with the corporate world was in September 2012 when we were sent for the Corporate Interface Program. Here, we made presentations to the corporates. It taught us how to get into the corporate world and how to interact with top level corporates correcting you, but for that you must speak out your mind. Let them understand on how you approach a problem. 4. Dress well, be presentable 5. Speak at a pitch that is audible to them…confidence warms up the interviewer. 6. Read the newspaper and stay in touch with all all current happenings. Believe in yourself and no one can stop you!! Everything is destined to happen, just be positive, maintain your calm, stay focused and things will fall in place. Keep your learning on and never forget to improve. I am proud to have access to some of the best faculties during our academic sessions that enriched us with their corporate experience.

bollywoodbiz

Glamour of Gloves

Pic: Yusuf Khan

BY joe williams

he may be a three time National Boxing Champion and a child -prodigy, but most people would recognize Almas Mohammad Ali Sheikh from her two minute stint in the sports biopic Mary Kom. Such is the sorry state of Indian sports, that bagging a cameo in Bollywood brings someone more accolades and recognition than a lifetime of dedication towards any sport (With the obvious exception of Cricket) As the sun sets over Pune’s horizon, Corporate Citizen catches up with Almas Sheikh for a heartfelt discussion on her life, accomplishments and her 15 minutes of celluloid fame. Even before we sit down for the interview, her love for boxing shines through. “For me it is boxing which is everything and I am very thankful to all who have helped me winning medals,” she says, breaking into a smile. For Almas, the road to boxing glory has been fraught with challenges. The Class IX student of the Anglo Urdu High School in Pune lost her father at a very young age. Every day she has to help out her mother in household chores, study for school yet dedicate hours on end for boxing practice. To say that her life is in stark contrast with the other carefree teens of her age would be an understatement. The 16-year old first came to prominence by winning the National Federation Gold at Erode in Tamil Nadu. Since then, Almas has been on a winning spree with two more gold, silver

as well as a bronze. Asked about her role in Mary Kom, she brightens up immediately. “This movie should help the sport take a different route and I am sure many will come forward in supporting the sport” says the self-confessed Mary Kom Fan.” What Almas does not volunteer, but one of her coaches does is that she was paid a mere

Almas Shaikh with Priyanka Chopra

A heartfelt chat with young boxing sensation Almas Shaikh with Priyanka Chopra two thousand rupees for the two day shoot. While choosing to remain anonymous, the disappointment behind his words is palpable. “It is shocking that a national champion is paid just Rs 2000,” he says. “I would say it is an insult to the game and our national champion, but at the end it was Almas’ passion, and most importantly the movie was on her mentor Mary Kom.”

Almas has fond memories about the shoot, though. She treasures her meeting with Priyanka Chopra, and says that the encouragement she received from the star will go a long way in her life. She fervently hopes that the sport gets the love and support from corporates and the masses that it so rightly deserves. Alma’s enthusiasm about the shoot, however, is not shared

by her mother Razma Shaikh. She alleges that Almas suffered an injury during the shoot, and was not even attended to. “What pained us was the fact that the film crew left us to fend to ourselves after my daughter injured her right hand during the bout,” she says, tearing up. As her coach calls out her name, Almas reminds us that it’s time for practice, signaling the end of the interview. I ask her in parting what her stance is on the dismal state of the Indian Boxing Federation. “I am sure things are in place,” she says optimistically, and sprints off into the sunset. joe78662@gmail.com

November 15, 2014 / Corporate Citizen / 51

pearls of wisdom

ways to achieve By Sri Sri Ravi Shankar The beloved spiritual guru guides you on your path to success

1 2 Unity

It is said “Sanghe Shakti Kaliyuge”– only unity has power in this era. In Kaliyuga, the power is in the team. You need to function as a group. When many bristles are put together to make a broom, they are far more effective in sweeping a hall than they would have been individually. The prerequisites for growth are patience, perseverance, clear intention, clarity of purpose and flexibility to accommodate errors. You must also have a sense of respect for all team-members, performers as well as nonperformers, and not indulge in blame games. Learn from the past, have a vision for the future and sustain enthusiasm.

52 / Corporate Citizen / November 15, 2014

Leadership

Team leaders need to bring in the right attitude and create an atmosphere of celebration, trust, cooperation and a sense of belonging. There is a willingness among people to refresh themselves, they just need to have it put in front of them in an effective, viable way. Nothing can last if it focuses only on productivity and net result. The task ultimately suffers because the creativity, strength and the sense of belonging will ebb away. The ‘command and control’ system, the military system, no longer works in building a high-performing team. Only inspiration and motivation are effective tools.

Take responsibility In the team, those who take responsibility, gain authority. Each team member should give himself fully to his role, like in the story of the squirrel. When Sri Rama was building the bridge with his army of monkeys, a little squirrel was putting sand in the water. Some members of the team laughed at how much this little squirrel could contribute. But that squirrel was very happy playing his role in Sri Rama’s army. Sri Rama was very pleased and blessed the squirrel by moving his hand over his back. Because of the small size of the squirrel, only three fingers of Sri Rama covered his back, marking three lines on it. This can be a fictitious tale but the message is - we also have a responsibility, whatever we can do for the team, we must do it.

success

Have skill in action The whole essence of the Bhagwad Geeta is to act without expecting the fruits of your actions. If the attention is only on the end result, then you can’t perform. Just give yourself fully with 100% sincerity and commitment. It’s all about your attitude. If you can manage your mind in the worst scenario or a situation like war, then you can manage any situation. This skill in action is called yoga. In life, it is this wisdom of Yoga that transforms one from arrogance to self-confidence; from meekness to humility; from the burden of dependence to the realization of interdependence; from a limited ownership to oneness with the whole.

Act without feverishness Have a dream and passion but not with feverishness. With feverishness, desires and cravings your mind loses clarity, and you don’t get right ideas, thereby reducing your ability to perform. Greed and over-ambition can overshadow the faculty of your intuition and wisdom.

Winning and losing Those who win should increase humility. See those who lost with love. Sympathize and be respectful with them. When you lose three Vikalpas (choices) arise- Frustration, Depression, Anger, all of which cause you harm. The fourth Vikalpa is, ‘This is the Lord’s wish.’ This way, we get over bad feelings, and get on with productive work. Victory and defeat are part of life. Recognize this pattern and rise above it.

Frustration, depression and anger are enemies

Meditation enhances performance Usually I recommend ‘meals and meditation’ for everyone in the afternoon, in companies, in factories, etc. I would recommend people to meditate for 10 minutes to 20 minutes and share a meal together. You will find such coherence in the group. You will feel like working together, team spirit gets built up, creative ideas come up.

November 15, 2014 / Corporate Citizen / 53

mobile apps

Tourism Ministry gets smart with app The Indian Ministry of Tourism has pioneered an app that enables users to virtually tour all the major cities in India, from the comfort of their home.

Tourists facing language barriers will benefit immensely as they can now scan the place on their apps as well as seek out directions

BY mohul ghosh

he Indian Ministry of Tourism has just launched an Android application that will help people to take a virtual walking tour of 16 Indian cities, right on their smartphones. Developed in collaboration with WoNoBo, this app is now available on the Google Play Store. WoNoBo is a service built by Genesys International Corporation, an advanced geospatial technology company based out of India. The 16 cities which are covered in this amazing application include: Agra, Ahmadabad, Amritsar, Bangalore, Chennai, Delhi, Goa, Hyderabad, Pune, Jaipur, Kolkata and Mumbai. As per officials of the Tourism ministry, by the end of the year, more than 50 cities would be covered. Using Google Maps Street view, and other technological innovations, this application can provide any user with a 360 degree view of famous tourist spots in any of these cities. The

user can scroll through the architecture and view the places as if they are really walking on the street. Tourists who face language barriers while visiting a new location will find this application immensely beneficial as they can now scan the place on their apps before visiting, and seek out directions without asking anyone. Last year, the ministry had launched the same application on their website, and was available to download for Blackberry mobiles. But with the Android launch, the application can have a broader reach and impact. The application has identified several

54 / Corporate Citizen / November 15, 2014

important locations within a city, which are deemed popular as per the feedback from tourists, and created a walking tour with a 360 degree view of the place. For example, say a person is visiting Mumbai for the first time, and wants to have a virtual walk around the city on his mobile. He can simply enter the search terms or go directly to the Mumbai section and select the location to visit. By clicking and dragging the mouse over his image, the user can have a complete 360 degree experience of the place. mohul@armoks.com

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November 15, 2014 / Corporate Citizen / 55

photo feature

Sri Lanka’s Ramayana trail W BY mahalakshmi hariharan

hat comes to your mind when you think of Sri Lanka? Former cricketer, Sanath Jayasuriya… Ceylon tea…picture-perfect Negombo Beach…? Or maybe the Ramayana…guess that could be the first thing to come to your mind. Religious scholars in Sri Lanka have identified 47 spots of mythological importance and Sri Lankan tourism is all set to cash in on the wave. For now, best you can do is organize a tour to check out spots where, supposedly, Ravana spirited off Sita. A debate between wisdom and belief was unavoidable. I was all set for the Ramayana trail. With certain time constraints --I wished I could visit them all—but then with only seven days in hand, out of those 47 spots, I could visit just a few of them. Our trip began-- I started with Wariyapola, the Ravana Caves, Seetha Kotuwa, Laggala and Seetha Amman temple-the ‘core’ Ramayana spots on the trail. A small township in northwestern Sri Lanka, Wariyapola means an airport in the native language, Sinhalese. Wa means air, riva is the craft and pola is a port. It was here, my guide told me, that Ravana built an airport. It is quite unfathomable on how the thought of an airport must have struck him then. This is situated on a flat ground surface, without any mountains in view; it makes Wariyapola a perfect landing site. Ravana Caves: Crooked hills, dense forests, surrounded by tunnels and beautiful landscapes...What history says is that Ravana imprisoned Sita here. When we started our journey to the caves, I wasn’t too optimistic of climbing uphill in a short time span. However, the two km journey uphill on crooked stairs left me short of breath. I sometimes wonder how Ravana dragged Sita to the cave atop the hill. The dense forests coupled with the howling of wolves (not a figment of my imagination) made this an unforgettable experience. Located on the panoramic Ella mountain range, the tunnels

brilliantly capture the architectural expertise of Ravana. They once served as a quick means of transport through these hills and also as a secret passage to all important cities, airports and even dairy farms. A close look at these tunnels indicates that they are man-made and not natural formations. Our next destination: Seetha Kotuwa or Sita’s fort, that got its name because Sita stayed here. This fort is located at Gululupotha-Hasalaka, about 190 kms from Colombo. It was in these jungles that the city of Lankapura once stood. The city has a lovely palace for queen Mandothari surrounded by waterfalls, streams and varieties of flora and fauna. History says that Sita Devi was kept in this palace until she was moved to Ashoka Vatika. The next day, we begin our excursion to Dunuwala (the site where Ravana died) and Laggala (where Ravana prayed to Lord Shankara). The cartels behind the Dunuvila Lake are called Laggala. Laggala is derived from the Sinhala term Elakke Gala, which when translated into English gives us the meaning “Target Rock”. Laggala served as a sentry point to the King Ravana’s army and it was from this rock the first Glimpse of Lord Rama’s army was sighted. This hill is geographically the highest part of the northern region and on a clear day Thiru Koneshwaran and Talai Mannar can been seen. King Ravana is believed to have meditated on this rock and prayed at Thiru Koneshwaran to Lord Shiva. It is here that King Ravana was killed by Lord Rama’s Brahmaastharam. The Sita Amman Temple can be seen en route to the Hakgala Botanical Gardens. The prominent temple architecture is attractive. Ancient statues of Rama and Sita can be seen on one side of the temple. Today, the temple is a modern building with paintings, statues and pillars; depicting the tale of Rama and Sita. That’s all I could manage in a week. An enriching experience nevertheless, unlike what I had expected, belief won over the rationality. Mahalakshmi.H@corporatecitizen.in

56 / Corporate Citizen / November 15, 2014

Our trip begun- I started with Wariyapola, the Ravana Caves, Seetha Kotuwa, Laggala and Seetha Amman temple - the ‘core’ Ramayana spots on the trail 3 4

5 6

 Sigiriya: The place where Ravana lived, now a UNESCO heritage site about 170 km from Colombo

 Adam’s Bridge- also called Rama’s Bridge, chain of

shoals, between the islands of Mannar, near north-western Sri Lanka, and Rameswaram in India

 Ramayana Trail- Sanjivani Mountain, well known for

its exotic herbs, from where Sanjivani Booti was acquired

 Sita Amman temple- A temple dedicated to Lord Rama, Seetha Devi, Lakshmana and Hanuman

 Scenic ventures of Sri Lanka  Seeta Kotuwa—also known as ‘Sita’s Fort’, the place where Seeta stayed

November 15, 2014 / Corporate Citizen / 57

shimmer glimmer

Adopt the old ways of saving in gold Gold is a safe asset, never mind crisis in international circuit by Rex Cano

old prices have been hovering above the Rs 25,000-mark now for over three years now, ever since the yellow shiny metal broke above the 25,000-barrier for the first-time ever in August 2011. Gold prices remained north-bound for quite some time before correcting towards the end of 2012 - till the first half of 2013. Euphoric buying in August 2013 saw gold prices reach to a life-time high of Rs 35,000-plus. Sanity was soon resorted, thereafter, and prices have moved around the Rs 28,000-odd level since the start of the calendar year. Despite falling by 20 per cent from the record highs last year, gold prices still remain three times higher when compared to prices seven years back in August 2007. From an investment perspective, does it makes sense to buy gold just because it is

20 per cent cheaper compared to a year ago prices, or does it makes sense to buy gold at three-times higher valuation when compared with prices in 2007. Surely investment decisions are not easy to made, or else we could have had a Warren Buffet or our very Rakesh Jhunjhunwala in every second street of our cities. On a serious note, we bring you five good

58 / Corporate Citizen / November 15, 2014

Buying gold is certainly one of the better options. The import duty on gold is currently around the higher-end of the scale at around 10 per cent

reasons to be bullish on gold at current levels Firstly, gold as we all know has strong auspicious-cum-religious values when it comes to India Gold prices generally tend to rise around the August-September period, as India enters a long festive season followed by marriages. Indian women are fond of gold jewellery and marriages are often accustomed with higher demand of fine and artistic jewellery. After seven months of decline in gold imports, India imported 65 per cent more gold in June 2014 on year-on-year basis at $ 3.12 billion, as per the official trade data Also data from the World Gold Council indicated that there was slightly higher demand (3 per cent jump) for Gold jewellery in Q1CY2014 even as overall demand remain steady at $ 1,074 tonnes Apart from religious and marriages, gold is also a safe long-term investment bet. Now, with Modi government giving more money in the hands of the individual by expanding the income tax brackets by Rs 50,000 per year, the surplus is likely to find its make its way in different available options Buying gold is certainly one of the better options. The import duty on Gold is currently around the higher-end of the scale at around 10 per cent. If economic data indicates further relief on the CAD (Current Account Deficit), the government will be in a positive to cut down import duty on gold by 2-4 per cent. The same may result into a sharp fall in Gold prices, but on the other hand higher demand for gold may abrupt any large fall in prices Looking in the same direction, we have some established jewellers like PC Jewellers and Tata Jewels which have opened four and one new showroom in the June quarter. Additionally Kerala-based Kalyan Jewellers announced its mega Rs 1,400 crore investment plan to open around 28 new showrooms in India and overseas. A vast majority 17 shops are to be set in India for an investment of Rs 900 crore Domestic reasons are not good enough to keep prices higher. We have even bigger and compelling global reasons like the ongoing Russia-Ukraine crisis, Israel-Gaza conflict and uncertainty that are likely to lend strong buying support to Gold - a safe haven asset. Technically speaking as per the monthly charts the MCX gold prices are likely to find strong support around Rs 25,500-odd levels in case of a downfall. On the upside, gold prices are likely to test Rs 30,500-odd levels on the upside in the coming months. rexcano@gmail.com

manage money A regular column on how to save, make and manage money from a leading financial literary expert. All that you wanted to know about money and did not know who to ask

So you think you are a non-finance person? With this article I begin a series of articles on understanding finance management. These articles will be targeted at students, business owners, CEOs, key executives, etc., that is, all those persons who usually fall under a heading called ‘non-finance persons’, but, in reality, are the real ‘finance persons’ in any organization. Perhaps I need to explain. Maybe we must begin with defining who a finance person is. What is the function of a finance person? Most people think that finance management involves tracking financial transactions, recording them in books, collating the data and presenting it in the form of various financial statements such as the Profit and Loss Account and the Balance Sheet and so on. If you think so too, I’m afraid you are wrong. What I have listed above is actually the accounting function. The question, therefore, that arises is, if collecting, recording and presenting of financial transactions is not finance management, then what is? Finance management is actually all about taking financially intelligent decisions. The ability to understand the financial impact of every action of yours is what finance management is all about. Is your action going to have a positive impact on the organization’s profitability or a negative impact? Once you understand this you can then ensure that you only do those things that bring gain and avoid doing those things which will harm. If this is what finance management is, then all those persons whose actions have the power to generate profits are the finance persons. We are all constantly taking financial decisions whether we realize it or not. If you happen to be in Marketing, and are evaluating an offer from a prospective client to buy your product at a lower rate but in higher volume, on what basis will you make your decision? Although you will consider many factors before you make it, you must understand that what you ultimately make will not be a marketing decision but a financial one. If you are a store keeper in a manufacturing organization, on what basis will you manage your inventory? Your efficiency is going to be judged by whether or not you can provide the necessary items on time when demanded by the production department. However, will it be wise for you to stock large numbers of every possible item without also considering the financial implication of doing so? Finding the optimum inventory level for each item at any given point in time

is not a purchase decision but a financial one. If you are the store manager of a retail chain, you may imagine your promotional offers to be Marketing – but unless they also bring increased profit to the organization, whether directly or indirectly, you are not doing your job properly. This means, of course, that your promotions must all make good financial sense. If you are the admin in-charge of a BPO and are faced between the choice of buying the next quarter’s stationery at ten percent lower than the previous quarter’s price – but without the usual 90 days credit you are usually offered – this is not an admin decision but a financial one. It would be irresponsible of you to make it unless you knew very clearly how your decision is actually going to impact the organization’s bottom line. Even if you happen to be in HR in a software company, you cannot take a decision on the bench strength without considering the financial implication. Whether you run your own company, lead a multinational operation, work in the ranks or are planning a start-up, you have a responsibility towards the profitability of the organization. And you will be able to fulfil this responsibility only if you learn to understand the impact of every action of yours on the organization’s bottom line. This is the crux of financial management: the ability to understand the impact of every decision you make on the organization’s profitability, and then to ensure that you take all those actions that will strengthen the bottom line and do nothing that weakens it. And all those persons whose actions have the power to affect the bottom line are Finance persons. Looked at in this way, the accountant is probably the only non-finance person in the organization! The accountant is the only one whose actions do not impact the bottom line. After all the so-called non-finance persons have done their job, the accountant will compile the data, evaluate the result of their actions, and declare whether the organization has made a profit or a loss – basically just performing a post-mortem. The accountant cannot generate profits for the organization. In my opinion, it is the acts that generate profits that should constitute financial management – not those that calculate profits.

Whether you run your own company, lead a multinational operation, work in the ranks or are planning a start-up, you have a responsibility towards the profitability of the organization

Dr Anil Lamba is a practising chartered accountant, a financial literacy activist, and a corporate trainer of international repute on finance management. He is the author of the bestselling book Romancing the Balance Sheet. He can be contacted at anil@lamconschool.com November 15, 2014 / Corporate Citizen / 59

health matters resistance and food? If we find bacteria like ESBL in the gut of somebody who has never stepped into a hospital nor taken antibiotics, then there is only one source of bacteria they could have got it from, and that is from the food. I canâ&#x20AC;&#x2122;t think of any other source which could have given them enough antibiotics to produce resistance.

Chicken contains proteins + antibiotics

Devi Shetty, cardiac surgeon and founder of Narayana Health, has seen increasing cases of antibiotic resistance at his hospital. Even those who had never taken antibiotics are reporting it. Edited excerpts from an interview How does antibiotic resistance affect treatment of patients? We are essentially going back to the pre-penicillin era. During the World Wars, soldiers used to succumb to even minor injuries because there were no effective antibiotics. Today, plenty of antibiotics are available but a majority are not effective because bacteria have developed resistance towards them. Every country is vulnerable to this problem, which is going to strike the world in near future. Fortunately, or unfortunately, wealthy countries are more vulnerable than poor countries, because they are the ones abusing the antibiotics. What is the extent and severity of the problem? It is a major crisis. Today if you go to any hospital, a significant percentage of their patients suffer

from multi-drug resistant bacteria. The worst thing is, it is not the patient who was hospitalised for a long time. It is the patient who walks from villages that are relatively clean, and is coming to hospital for the first time who is with resistant bacteria, even before the treatment. What do you think has triggered its emergence and spread? The spread is because our everyday food is contaminated with antibiotics. When we eat chicken, it is like taking a course of antibiotics. Fish and honey also contain antibiotics. Virtually all food has antibiotics. This was the case in Western countries. They took measures to control it. We need to do the same. Does the existing scientific knowledge establish the connection between antibiotic

60 / Corporate Citizen / November 15, 2014

The spread of bacteria is because our everyday food is contaminated with antibiotics. Virtually all food has antibiotics. -Dr. Devi Shetty

What should the government and the industry do to respond to this increase in resistance? First of all, we do not have to reinvent the wheel. All we have to do is follow what Europe has done. There are standard protocols in many parts of the world about antibiotic usage in poultry farming. The protocols ensure that there is no trace of antibiotic when humans consume this food. We just have to implement it in our country. So, where do you think is the hurdle? There is really no hurdle. It is just that the government needs data and this data should come from a responsible body like CSE. When the government approaches the industry with regulations, the industry will be unhappy to some extent. They have one way of functioning, and regulations are going to disrupt that. But in the long term they will obviously be happy. Now the government can safely face the industry and say that we have the data to prove that this is the amount of antibiotics that is present in chicken or fish or honey. This will help the government take action. What more can be done? Citizens should be educated about what they are eating, what does their food contain, and what are the consequences. Because ultimately changes donâ&#x20AC;&#x2122;t happen by the government or the policy makers. They are brought out by the citizens. So we should make every effort to educate people about the consequences of antibiotic abuse.

(Courtsey: www.downtoearth.org)

close encounters

- - - - A r v ind K e j ri w al - - - -

Aam Aadmi or Khaas Aadmi From ordinary to VIP, the transformation of Arvind Kejriwal…

BY dr (col) a balasubramanian

t was a day in the month of March 2014. I was waiting at the Bhopal Airport to fly to Jaipur. That was the period when Arvind Kejriwal, founder of the Aam Aadmi Party, had created an international stir by convincingly winning Delhi’s Assembly elections. He had subsequently also sprung a surprise by resigning as its Chief Minister after a short stint of 49 days of government formation in Delhi. Suddenly, I heard slogan shouting, applauding the Aam Aadmi Party. Curious to know who was coming, I suddenly saw Arvind Kejriwal with his associate Manish Sisodia walking right in, without going through any security check. Instantly, his image of Aam Aadmi fell through in front of my eyes. Could he have skipped security because he was a CM until recently? So, has he now become a VIP, an acronym which he himself said he always hated? Who are the authorities that have been

prescribed by the relevant Law to get such a concession of skirting security? These questions haunted me. Nevertheless, I was keen to meet this anti-corruption crusader who has created a national sensation. I thought he would soon sit somewhere near to where I was standing. That would give me a chance to have a conversation

Could he have skipped security because he was a CM until recently? So, has he now become a VIP, an acronym which he himself said he always hated?

with him. But lo and behold, I got the next shock when both of them coolly went into the VIP lounge. I said to my colleague, “Yeh toh VIP ho gaya!’’ Fortunately, I was thrilled to know that there is yet another chance to meet him. He too was on his way to Jaipur for an event of Rajasthan Patrika, a well-known daily of Jaipur. I happened to be in the seat, just one row before where he was seated. Some people surrounded him and got their pictures clicked with him. I asked one of my students to request him time for me. He agreed and we introduced each other. I started off by saying, “I admire you because of your anti-corruption agenda. However, the problem is that you have broken up with your guru, Anna Hazare and in effect, broken the Guru-Shishya relations.’’ He said, “Anna is still with us.’’ I said, “You got an opportunity in Delhi to prove yourself. You challenged the Congress but when you held the seat of power, you just let it go. This gives an impression that you only talk but cannot deliver. Do you consider yourself as a bigger economist than Dr Manmohan Singh? What could you have have done in the absence of money or water in the Narmada? He said, “They were not allowing me to work.’’ I continued, “Is coughing your trademark? If you have medicines, the cough does not stay for so long. Also, why do you wear the muffler that makes your disposition akin to a dictator? Do you want to portray a militant image?’ He said, “It is cold in Delhi, so I protect myself from it.” I said, “You should visit my college…’’ He answered, “Aur kuch kehena hai?’’ I concluded, “My scholarly opinion is that, you are trying to become a dictator, inadvertently or otherwise. India, of course, has a leadership cult. Hence, you may be consciously developing it. However, once you say you are a leader, Aam Aadmi is finished.’’ The final shock of my encounter – some 60 Aam Aadmi followers stood outside the airport to greet and cheer him. A jeep was standing beside them. I expected Kejriwal to greet the crowd and get into the jeep. My eyes stared with disbelief when I saw him hurriedly getting into a Mercedes Benz and drive away. His admirers were also perhaps left stunned. I said to myself, ‘Yeh to Khaas Aadmi Nikla!’. To conclude, there is nothing wrong if he gets VIP treatment as a former chief minister but then why did he make a show of travelling by the Delhi Metro to take oath as CM?

bala@balajisociety.org

November 15, 2014 / Corporate Citizen / 61

astroturf

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 The planets give you enough energy to take control of situations. You will feel and project strength, effectiveness and in charge of things. Success comes to you as all your efforts seem to bear fruits. Do your best to avoid confrontations as those around you could start feeling threatened and may emote jealousies.

hand over the responsibilities of home to someone you trust, for the coming couple of months if you focus your energies on your professional life or business, then you can expect to meet the targets that you set for yourself. Your career planet starts moving forward from the 16th of this month, so your career judgment will be much better.

CANCER

TAURUS

April 21 - May 20 Love is being severely tested, but then you have a knack of passing in flying colors. The strong focus on love and maintaining good relationships – this drive enables you to handle all the various challenges that arise. Ample opportunities arise for you to grab and better your working conditions.

GEMINI

May 21 - June 21 It is high time that you work methodically and get organized at work including your thoughts. Focus on your outer life that is your work career and goals. Let go off family issues for now or

Jun 22 - July 23 Overall prosperity is seen and remains very much intact and this trend continues in the next year too. You could experience some temporary bumps but if these are handled properly prosperity should increase even further. The planets urge some positive changes which you may not have expected, but nevertheless just go with the flow. Keep your financial goals high and be active in grabbing opportunities whenever they arise.

LEO

July 24 - Aug 23 Your spiritual energies will be high, this indicates that in religious and philosophical matters you will be exploring new world’s new territory. In

62 / Corporate Citizen / November 15, 2014

the outer world you will be travelling to exotic places. Health needs watching as you must take breaks between work schedules. Yearly checkups are a must, any niggling problems should not be left for another day they should be examined immediately.

VIRGO

Aug 24 - Sept 23 You need to hone your communication skills and arise the level of your intellectual interests. Financial goals will more or less be attained. Do not keep the level of your goals very high be realistic and work towards your targets in accordance with your capabilities. Now is the perfect time to enjoy the fruits of your labour and hard work put in the past.

LIBRA

Sept 24 - Oct 22 Look outside your natural boundaries, your social life will be quite high. But you must learn to discriminate and accept invites only which are genuine and not superfluous. The past year has been a year of consolidation and reorganization, but now you are in the midst of your financial peak, so earnings will be stronger but what you need to do is careful investments which will help you reap benefits in the future.

SAGITTARIUS

Nov 23 - Dec 22 Very conducive month if you feel the urge to delve in spiritual matters. Mediation introspection will help achieve a clearer perspective of yourself. You may be needing your own space, it’s important to let your near and dear ones know of your need for solitude. This does not mean that you are going to be anti-social, it’s just a cleansing period for your inner psyche.

CAPRICORN

Dec 23 - Jan 20 Even though you may feel the instability of the finances yet there will prosperity and an overall upsurge. You should be mentally prepared for bumps as well as pleasant surprises. Expect the unexpected. Solutions to your family problems lie in thinking “Out of the Box”.

AQUARIUS

Jan 21 - Feb19 Concentrate on your career and work towards making solid investments. Your love life shines and so does your career. Everyone around will be supportive of whatever path you choose. What matters is how well you adjust and are happy in your professional life. The power of the planets could allure you in romantic involvements, be discreet or at the best avoid it especially if you are in an existing relationships.

SCORPIO

Oct 23 - Nov 22 Even though your health looks good, yet it’s important that you look into niggling problems and ensure to eliminate them through proper checkups. Good mental health is more important than usual and happiness needs to be developed under all circumstances with an overall positive outlook in life. You will have things done your way, as career opportunities do blossom under the present circumstances.

PISCES

Feb 20 - Mar 20 Health remains good so you have all the energy to achieve whatever you want to and be constructive and productive. Get cracking and complete all the unfinished tasks that you had started earlier on in the year. Do not take on any more projects before you complete the previous ones, or else you may tire yourself out and problems can then arise.

book review

Mumbai’s dabbawalas & their customer philosophy It is a stupendous feat of co-ordination, efficiency, honesty and sheer hard work: Mumbai’s dabbawalas deliver 200,000 meals to office-goers and return the tiffin boxes back to their homes in a span of three hours, on a daily basis. Their clockwork precision and incredibly low error-rate has got the world to sit up and take note of this awesome army of 5000 men who carry forward a 120-year-old tradition Mumbai’s lunch boys came to public notice and became a world icon of ‘Quality’ when they were certified Six Sigma. I always felt this was rather unfair because so many of Bombay’s systems also work at Six Sigma levels of precision – the doodhwalas, the pauwallahs, the fruitwallahs, the engine drivers, the office boys, the traffic cops (and on and on) without anyone ever stopping to notice. But after reading this book I did get the sense that the success of the dabbawalas is not just a consequence of (a) economic factors and (b) the molecular structure of the professional that Bombay coerces onto its inhabitants. In particular, there is also the clearly-articulated customer philosophy which every member of this exceptional service industry is expected to read and preserve in his record book: Customers should always be treated with courtesy and respect. They should be dissuaded from using any ‘exotic’ and ‘fancy’ tiffin boxes that are prone to get damaged. Except for extremely rare, unforeseen reasons, the tiffin box should always reach the customer on time. If a tiffin box is lost in transit, half the cost should be borne by the concerned dabbawala. Another important factor that has made the movement so

successful is that it is run as a cooperative – members are not just workers, they are owners. Corporates should be as clear-headed – no wonder management schools started looking to them for lessons. Originally written in Marathi, the translator, Shalaka Walimbe, has done a good job of turning the text to idiomatic English. Mumbai's Dabbawala is written partly as the memoir of Raghunath Megde, present president of the association of dabbawalas his father’s uncle, Mahadu Bacche was the first dabbawala back in 1890, and as such, founder of the association. And, it is partly a historical and descriptive narrative by Shobha Bondre, filling in blanks and creating context and perspective, in alternating chapters. As memoir, it is engaging, informative about village life in Maharashtra as well as the life of the dabbawala, and often touching, as well-told life stories should be. The author’s narrative is also easy to read and strewn with fascinating detail. However, there are a few slips which I felt made this book fall somewhat short of perfect. For instance, we are told that when Mahadu Bacche came to Mumbai in 1890, There were very few restaurants in Mumbai in those days and certainly no fast food

Mumbai’s Dabbawala Author: Shobha Bondre Price: Rs.300 Book Review: Saaz Aggarwal outlets. There were only a few Sindhi and Christian housewives who used to provide homecooked food. I’m not sure how well the concept of Sindhi and Christian housewives providing homecooked food fits into this historical framework: to my knowledge, in 1890 most Sindhi housewives were still in Sindh; a large majority of the Christians belonged

to the Anglo Indian community, and I’m not sure if its housewives would have considered sending out dabbas to others – surely the larger phenomenon took some decades to emerge. In another instance, a character introduces himself saying, This is Rashid miya speaking. But would any Rashid ever call himself 'miya'? Mumbai's Dabbawala devotes considerable space to the muchhyped fascination and subsequent association Prince Charles has with the Mumbai dabbawala – including the details of their presence at his wedding to Camilla. I have a fascination with the Mumbai dabbawalas too: they are a fascinating part of life in that fascinating city, and many of my paintings, which strive to capture its incongruities, feature them. (Review courtsey: http://blackandwhitefountain.blogspot.in)

November 15, 2014 / Corporate Citizen / 63

Claps & Slaps

A clap for social media savvy leaders

Corporate Citizen claps for corporate leaders who are increasingly getting social media savvy. Corporate tycoon, Anand Mahindra is the most influential in the social space with over 844,000 twitter followers. That’s incredible! Interestingly, Mahindra’s Twitter feed is a regular mix of business and pleasure, broadcasting and engagement. He is regular on making posts about his company, coming up with inspirational quotes, cinema, and even about American politics. Not just that, he also shares his thoughts and passions, and retweets and shares the messages of those who engage with him on those topics. Mahindra is a great example for executives to follow as he is one of the rare CEOs that publicly shows his true colors. And…followers love him for it. Recently, Harsh Goenka, Chairman of RPG Enterprises broke the conventional method of letting out corporate secrets through one-to-one or telephonic conversations. Much to the surprise of his fans and followers, he tweeted that a mega telecom deal is in the offing with MTN, the South African telecom firm. This has led to utmost curiosity and each one began making guesses.

A slap in the face of communal tension prevailing in our country

Whether it was pushing a chapatti down a staffer of Maharashtra Sadan, who was adhering to his Ramzan fast or the brutal killings in the name of religion, this communal tension is getting on everyone’s nerves. India’s youth which forms an impressive 65% of the total population is in the new age mode. They believe in good governance, education, prosperity and peace. Employment opportunities and inclusive development are are the real issues that matter to them. It is some irresponsible politicians who are fanning fires. The era of exploiting communal sentiments for vote bank politics has to stop. Once all citizens assert ourselves that we will not stand this discrimination for votebanks, it will be a nice slap on the face of the netas. So, come on, whack!!!

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.

64 / Corporate Citizen / November 15, 2014