The Edge by IILM Institute for Higher Education

Editorial

Edge

The

Editorial Board Mrs. Malvika Rai Dr. P. Malarvizhi Mr. George Skaria Ms. Rohini Rode

Editorial team Shipra Jain Swati Sehgal B D V Anuroop Ashish Rathi

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Management education in India is undergoing a silent revolutionary change towards capacity building of next generation managers. The focus of B-schools now is to reinvent management education through a plethora of technology-enabled hybrid teachinglearning avenues. India’s technological leadership will propel Indian B-schools to a “Global Distance Education Arena” paving a new super highway, engineered to target international partnerships with leading educational institutions around the world. Academic and corporate visionaries of today foresee the future of management education to focus on three fundamental pillars, viz., Business Ethics, Corporate Governance and Environmental Responsibility as key thrust and growing areas of relevance for current and future managers. There is an urgent need to break away from the stereotyped academic model to practical, contemporary, industry-focused and training-based education. It is both a social responsibility and citizenship duty of educational institutions to handle it more firmly to take a giant step towards rebooting the business education. Skill development in Indian business education is at its infancy. This lacuna opens up online skill development opportunities for private educational institutions than universities who will take time to adapt to the need for transformation due to its regulatory regime. It is predicted that online skill development programmes will be the future of business education in India. The global reach of India’s cutting edge IT expertise has complimented and fuelled an impressive growth of our education sector. The multimedia or online learning will help business education to penetrate to the grass root levels. This state-of-the-art digital learning can be made available by B-schools in multiple languages with online translations in any global language. Developing economies can use technology at its best for knowledge dissemination. Digital higher education has a mammoth task of harmonising the development of online course content, digital teachinglearning software development, digital legal and accounting professionals and most importantly, IT-enabled learner groups. Will Indian business education prepare quickly to chisel out its apprehensions for a smooth digital transformation? Dr. P. Malarvizhi Professor, Accounting and Finance

Edge

The

"Leadership is about trust and belief in yourself": Harsh Pati Singhania

Global Thinker Award 2011 conferred on renowned sociologist AndrĂŠ BeteillĂŠ

Bringing the Best of Global Management Practices

Contents IN-HOUSE MAGAZINE FOR LIMITEd CIRCULATION

04 23 28

The Cult of Hip-Hop

Management Lessons from Sports: Inspirations from Jose' Mourinho

Current Landscape of the United States Retail Pharmacy Industry

37 38

Integrated Perspectives on Leadership

Convocation 2011: A Class Apart

Governments and Business: An Emerging Indian Perspective

Richness of "Poor Economics"

40 41

Glocalisation or Reverse Innovation: Choice is Yours!

Banking on IFRS: Are We Ready ?

Campus News

Convocation 2011: A Class Apart Shri. Harsh Pati Singhania was the chief guest for the event and lit the ceremonial lamp after the academic procession had settled down at the stage.

ILM Institute for Higher Education held its convocation for the class of 2011 where the Post Graduate Diploma to the batch of PGP 2009-11 was awarded on Monday, 1 August 2011. Shri. Harsh Pati Singhania

was the chief guest for the event and lit the ceremonial lamp after the academic procession had settled down at the stage. Ms. Sapna Popli, Director, IILM Institute for Higher Education sought the permission of the chief

guest to declare the convocation open. Ms. Popli introduced the chief guest and highlighted that Mr. Singhania is a fourth-generation industrialist belonging to one of the largest industrial groups in India: the JK Organisation. Mr. Singhania is an MBA from the University of Massachusetts, USA and an alumnus of Harvard Business School. The groupâ&#x20AC;&#x2122;s activities include paper and boards, cement, tyres & tubes, power transmission, system engineering, sugar, dairy products, textiles, health care and clinical research. The manufacturing facilities of the Group are spread over the entire Indian sub-continent as well as several countries abroad. She also took the audience through a part of our journey at IILM, more specifically the last two years, and said that as a progressive and learning institute, IILM continuously strives to improve in all areas. Starting with a batch of 60 students in 1993, IILM today has grown to five campuses and programmes catering to about 1500 students

each year. The post-graduate programme in management is the institute's mainstream one that prepares students for individual enterprise and careers in business and management. Over the last two years, the institute has redefined itself as a business school and has taken concrete actions towards implementing its vision 2015 which is, to be “a leader in values-based management education and business-focused research.” At the centre of the vision is “The Student” and the endeavour is to provide an “exceptional student experience” by focusing on: • Work-related and work-based learning experience

dated constantly with feedback from the industry. A proactive Board of Governors that meets three times a year to review the programme structure, course content and delivery gives us continued feedback in this area.

systems across campuses. It also continues to provide a crosscultural exposure to its students. Distinguished international faculty and speakers are invited to offer full credit courses to IILM students.

She added that the institute has made conscious efforts to engage industry more actively in the programme design and delivery by means of visiting professors from industry, curriculum conferences, industryfocused seminars and sponsored programmes. The institute has found the exercise immensely useful and has received positive feedback from both the industry and students on these initiatives. It realises that it still has a long way to go to make this really embedded in the processes and

With the above overview, Ms. Popli concluded: “This brings me to the primary reason for being here today: the graduating students. The excitement, energy and enthusiasm of the graduating batch is really infectious. Close to 700 students are being awarded their post graduate awards today. With dreams to change the world, it is this young energy that is going to be the real driver of growth, not just for the organisations they work for, but for India as a nation. The opportunity that exists for

• Knowledge and skills valued by employers • Inspirational and creative teaching • Research that flows into teaching and learning. Ms. Popli said that our aim is to maximise the learning valueadd in the time that the student spends with us. The curriculum is not only benchmarked with the best schools in India and across the world but also up-

bottom of the pyramid will have access to healthier lifestyles and improved livelihood. On the other, increased wealth and consumption will have a dramatic impact on the world's environment. With global population approaching 7 billion, we are today consuming resources at a rate greater than the earth's ability to replenish them. She ended by saying a few words from Henry Longfellow’s famous poem:” A Psalm of Life” emphasising the need to act and labour: Not enjoyment, and not sorrow, is our destined end on way; But to act, that each tomorrow find us farther than today. Let us then be up and doing, with a heart for any fate; Still achieving, still pursuing, learn to labour and to wait”

today's youth is tremendous and it is for them to make the most of it.” To describe the opportunity and the challenge it brings with it, she quoted the chairman of Hindustan Unilever Ltd., Mr. Harish Manwani, “India has changed dramatically in the last decade. Per capita income in current prices has grown by more than 12 per cent per annum and so has the personal disposable income. In the last 10 years, the number of middle and high income level households combined has increased by more than 50 per cent. Automobiles sales have grown from about

5 million vehicles to 16 million vehicles and mobile phone subscribers from 2 million to over 840 million. The media landscape had changed beyond recognition with more than 500 TV channels reaching an aggregate audience of nearly 600 million.” Clearly, she added that we are in the midst of a consumption boom that is revolutionising the lives of millions of Indians. These are remarkable numbers, signifying a tectonic shift in the composition of growth. The growth brings with it new opportunities – but it will not be without challenges. People at the

Dr. Shuchi Agrawal, Dean, PGP, then announced the award of the diploma in absentia to students who could not attend the convocation and receive the diploma in person. The Dr. Kulwant Rai Silver medal for academic and co-curricular activities in PGP 2011 from Lodhi Road campus was awarded to Priya Bagga. The Dr. Kulwant Rai Silver medal for academic and co-curricular activities in PGP, 2011 from Gurgaon campus was awarded to Jigar R Rathod. Harneet Singh received the Dr. Kulwant Rai Gold Medal for securing the first position at the PGP, 2011. Ms. Sapna Popli requested the Chief Guest Shri. Harsh Pati Singhania to deliver his convocation address.

“Leadership is about trust and belief in yourself”: Harsh Pati Singhania

am delighted to be with you today at the IILM Institute for Higher Education’s Annual Convocation for the 2009-11 batch of students of the Two Year Post-Graduate Programme in Management. I feel all the more honoured and privileged when I find that several eminent persons have graced earlier Convocations and I feel humbled to be amongst such august company. Mrs. Malvika Rai, your Chairperson, and Mr. Anil Rai, have by their able leadership, guidance and untiring efforts established IILM as a leading management institution in the country. Its progress and growth with several campuses is a testimony of how the corporate sector can play a useful role in helping society access higher education, which is an imperative for India if it has to be among the top global economies in the near future. Today is an important day as all of you students would be entering a new phase of your life and my congratulations and best wishes for each one of you in what ever you choose to do – whether you go for further studies, take up a job or become an entrepreneur yourself.

Future of Indian Economy As you enter the exciting world of business and management, there is a bright future ahead. Opportunities available are unprecedented, perhaps much more than ever before. There

is at the same time enormous challenge: the challenge of rapid change. You would have recently read in newspapers and articles about the current economic slowdown. You would also have seen Reserve Bank of India (RBI) stressing on the need to give precedence to inflation control over economic growth. RBI believes it may be necessary for us to trade off short term growth for inflation control through hikes in interest rates. Also, low inflation is essential for long term macro-economic stability. While there is some merit in this, I do not believe this is the best solution. We need to continue to nurture growth through new investments to de-bottleneck the supply side constraints, parti-cularly, in agriculture, rather than curtail demand. If the slow-down deepens, it will take much longer to revive growth and the growth momentum.

long term growth story of India remains intact. Some of you might have read a recent report by the Standard Chartered Bank about the Indian economy in the super-cycle of growth. It says India is likely to

Mrs. Malvika Rai, your Chairperson, and Mr. Anil Rai, have by their able leadership, guidance and untiring efforts established IILM as a leading management institution in the country.

It is difficult to pinpoint how long the slowdown will persist though there is a general feeling that we may have to live with this for the next year or so at least. Though this is worrisome, if I were you I would not be disheartened by it: I firmly believe that the medium to

India has the potential, but what should we do to realise this? While everybody talks about the usual things — i.e. to attract more capital, open our markets, deepen our reform process, invest in infrastructure and human capital — I believe there is one crucial ingredient that is missing: this is leadership.

emerge as one of the winners in the third global super-cycle the world is now experiencing. The firt cycle ran from 1870 to 1913 (eve of the First World War) and the second one from 1945 (end of the Second World War) to 1973 when it was halted by the oil crisis). India will become an $ 30 trillion economy by 2030 and will offer huge opportunities in consumer spending, urbanisation and financial markets. There is another interesting analysis by CLSA with a provocative and interesting title, “Buy Chaos, Sell Order” which came out last year. I was fascinated both by the title and its reasoning. It was about the race between China and India in attracting foreign investments. The report was about equity investing but many of the points it made are true of the economy as well. It says that India’s problems come from tackling the most difficult issues first: China has postponed these problems. India’s economy is more market-driven while China is not.

India’s institutions (despite corruption etc) are also strong visà-vis China and these along with India’s demographic advantage (its young population) will make India move ahead of China in the growth race in the long term (say from middle of this decade). So okay, India has the potential, but what should we do to realise this? While everybody talks about the usual things — i.e. to attract more capital, open our markets, deepen our reform process, invest in infrastructure and human capital — I believe there is one crucial ingredient that is missing: this is leadership. We have to have inspirational and effective leaders who will lead the people of our country to achieve our potential.

Leadership versus Management You are all management students and we talk about management systems to achieve effectiveness. However, I would like to place before you a distinction between management and leadership.

Leading management expert, Harvard Professor John Kotter has observed (quote) “Leadership is different from Management, but not for the reasons most people think. Leadership is not mystical and mysterious. It has nothing to do with ‘charisma’ or other exotic personality traits. It is not the province of a chosen few. Nor is Leadership necessarily better than Management or replacement for it.” Let me explain this a bit further. Management is about coping with complexity and large complex organisational systems. We can even look at a country in this manner. However, leadership is about coping with change. There are some important distinctions between the two. To deal with complexities, in management, we undertake planning and budgeting, that is, setting targets. In contrast, a leader sets a direction, gives a vision. To achieve a plan in management,we set up organisational structures and staff it with people. In leadership, to achieve the vision we

have to ‘align’ people to do it. And finally, in management, we have to monitor the plan by controlling and problem-solving. In the case of leadership,you need motivation and inspiration to keep going on that path, despite setbacks and constraints. Both have to be done. However, I believe we are better off at the management part, no doubt backed by talented people like you; but on the leadership side I think we are weak. Leadership is about trust and belief in yourselves. It is about confidence and having the courage to make mistakes. It is about taking on new challenges that come from changes like issues of environment and sustainability. In the past, our country got independence due to the vision and leadership provided by people like Mahatma Gandhi, Pandit Nehru, and business organisations like ours, the JK Organisation, which has now been around for more than hundred years, and benefitted and grew from the leadership and vision provided by

its founding fathers. I think we need to carry forward the legacy of the visionary leaders, businessmen and entrepreneurs that our country has produced. My dear students, as you leave today to start a new phase of your life full of hope, aspirations and excitement, I want you to think about whether you want to be leaders or managers. • Do you have the ability to ‘dream’ more than what others think would be ‘practical’?. • Can you take ‘risks’ more than what others think as ‘safe’? • Are you willing to ‘achieve’ more than what others think is ’possible’? • Will you spare some time to give back to society some part of what you get from them? If you have this, then you can be a part of building of a new vibrant and prosperous India and perhaps one day look back with pride and say to your children, yes, I was a part of building this great country. Thank you.

Roll of Honour Dr. Kulwant Rai Gold Medal for Best Academic Performance: Harneet Singh

Dr. Kulwant Rai Silver Medal for Securing First position in the area of Marketing Specialization: Geetanjali Chhabra

Dr. Kulwant Rai Silver Medal for Securing First position in the area of Finance Specialization: Harneet Singh

Dr. Kulwant Rai Silver Medal for Securing First position in the area of Human Resource Management Specialization: Harshita Agrawal Dr. Kulwant Rai Silver Medal for Securing First position in the area of IT Specialization: Geetanjali Rathore Dr. Kulwant Rai Silver Medal for Securing first position in Post Graduate Proramme in Hospital Administration: Ritika Vashisht

Global Thinker Award 2011 conferred on renowned sociologist André Beteillé

he IILM Distinguished Global Thinker Award was instituted in 2006 to acknowledge and honour each year an internationally reputed thought leader for his or her academic achievements. Since its inception, this award event has been a key platform to get engaged with the global academic community and a forum for policy debates on issues of international importance. Some previous recipients of this award are: Shashi Tharoor, Lord Meghnad Desai, Professor C.K. Prahalad, M.S. Swaminathan and Lord Bhikhu Parekh. This elite group of recipients was joined this year by Professor Andre Beteille on July 7, 2011. Prof. Beteille is one of the most prominent sociologists in India. He has had a life long association with the

Faculty of Sociology at the Delhi School of Economics, University of Delhi where he is currently Professor Emeritus of Sociology. Prof. Beteille had also taught at Oxford University, Cambridge University, the University of Chicago, and the London School of Economics. The Government of India awarded the Padma Bhushan to Prof. Beteille in 2005 for his immense contribution in the field of Sociology. He also served as a member of the National Knowledge Commission and Chairman of the Indian Council of Social Science Research. Prof. Beteille was made National Research Professor in 2006. He has written extensively on almost all the current issues of sociology. He has a number of books, essays, and other publications in scholarly journals to his credit. His writings look at the contradictions between the idea of equality and the practice of inequality, caste hierarchies, and making basic rights available to all, irrespective of individual merit and need. Some of the important books that Prof. Beteille has authored are: Universities at the Crossroads, Marxism and Class Analysis, Ideology and Social Science, Sociology: Essays on Approach and Method, Chronicles of Our Time, Caste,

The elite group of past recipients was joined this year by Professor André Beteillé on July 7, 2011. Prof. Beteille is one of the most prominent sociologists in India.

Class and Power: Changing Patterns of Stratification in Tanjore Village, Antimonies of Society: Essays on Ideologies and Institutions, Anti-Utopia: Essential Writings of Prof. Andre Beteille, among many others. The jury for this year’s panel comprised of Dr. Shashi Tharoor, Member of Parliament, Prof. Naseeb Jung, Vice-Chancellor, Jawahar Lal Nehru University, Prof. V.N. Rajasekharan Pillai, Vice-Chancellor, Indira Gandhi National Open University, Shri. K.V. Rajan, Fomer Secretary, Ministry of External Affairs, Mrs Malvika Rai, Chairperson, IILM, Shri. P.C.Sen, Former Director, India International Centre and Shri. Pavan K Varma, noted Author and Senior Diplomat.

â&#x20AC;&#x153;The successful operation of democracy is the responsibility as much of the opposition as it is of the governmentâ&#x20AC;?

hank you very much, Mrs. Rai, Prof. Bhattacharyya, and all of you who have come to hear me on this important occasion. It is a great honour for me to be with you today and to receive the award that you have just conferred on me. It makes me feel a little humble to think of all the things that I wanted to do and the very few among them that I did in fact succeed in doing. That really is what the life of a person who commits himself to the vocation of scholarship is. He must set himself large objectives and strive to achieve those objectives. One must not judge a person only by what he has achieved but also by the goals which he had set for himself. Today I am going to talk to you about a subject of great importance. The scope of the subject is very large, and I cannot even pretend to cover it in all its aspects. It is, in a broad sense, the subject of democracy which was also the subject of the lecture given by the first person, Lord Bhiku Parikh on whom you conferred the award. I will dwell specifically on the role of government and opposition in the working of democracy. The successful operation of democracy is the responsibility as much of the opposition as it is

of the government. Democratic regimes are distinctive if not unique in the way in which they perceive opposition and deal with it. In such regimes dissent and opposition are regarded as reasonable and legitimate, and not merely expected features of life. Those who are committed to democracy are mistrustful of regimes in which opposition is absent, particularly when those who are at the head of such a regime, say that since the authorities take care of the wellbeing of the people as a whole, there really is no need for any opposition. Such authorities regard dissent in any form as the work of mischief makers. The success of democracy depends not only on recognising the opposition as legitimate, but also on it being given an institutional form. The institutionalisation of opposition is one of the most significant innovations of democracy, and acquires its clearest expression in the parliamentary version of it. What it does is to give a distinct structure to the relationship between government and opposition by differentiating the one from the other and assigning to each its specific place in the political system. In this process, the political system itself acquires a clearer definition in the larger social system. As the political system acquires a clearer definition through the regular and systematic interaction between govern-

There were great men who were trying to shape a new order in Indian society through the Constitution and through the stateâ&#x20AC;&#x201D;Ambedkar, Nehru, Patel, Pant.

ment and opposition, politics emerges as a distinct and specialised field of activity, first as a vocation and then as a career. The moralist tends to look down on the professional politician, but the social theorist cannot deny the significant part he plays in every democratic system. The rise of the professional politician is a relatively recent phenomenon in human history and it has much to do with the way in which democracy has developed through the structured relationship between government and opposition.

expectation that it would be asked to form the government again in the future. The party system gave opposition a focus and at the same time moderated its excesses.

The emergence of the political party as an institution has played a crucial part in shaping the relationship between government and opposition as a distinctive feature of democratic political systems. It is through the party system that the alternation between the two became established as a regular, expected and acceptable part of democracy. The party in office accepted its replacement by the party in opposition in the

The alternation of parties between being in government and in opposition is best seen in two-party systems although the same principle may be seen at work in systems with three or more parties. Here again, Britain provides a very good starting point because for most of the time since the middle of the 19th century it has had in effect a two-party system with the alternation, first, between the Conservatives and the Liberals,

and, then, between the Conservative and the Labour parties. The political leaders who led the movement for independence in India were fully familiar with the working of democracy in Britain through the alternation of parties. But the relationship between government and opposition acquired a different colour in this country because the social and historical context in which it had to make a place for itself was substantially different. Although the Indian model of democracy was greatly influenced by the British model of it from the inception of the nationalist movement in the 19th century till the time of independence in 1947, the evolution of political institutions has since then followed its own distinctive trajectory. In particular, the party system has acquired a shape and a colour that makes it quite different from the one in Britain. The role of the opposition, and the relationship between government and opposition, both within and outside parliament, have

acquired distinctive, not to say unique characteristics in India. It has been conventional among political scientists to distinguish between two-party and multi-party systems. Britain and the United States have been taken as examples of two-party systems whereas European countries such as France, Germany and Italy have provided examples of multi-party systems. But multi-party systems differ greatly among themselves, depending upon the number and variety of parties they have to accommodate. Although India has what is technically a multi-party system, that system is very different from the multi-party systems of France and Germany. Party systems evolved in the 19th century in Europe and the United States, emerging as either two-party or multiparty systems, and occasionally oscillating between the two. The Bolshevik Revolution introduced a genuine innovation by creating and sustaining a one-party system. The one-party model travelled from the Soviet Union to countries under its shadow in eastern Europe as well as to China and beyond. A variant of the one-party system emerged in Germany under Hitler and in Italy under Mussolini, but neither the Nazi nor the Fascist party lasted very long.

Where there is only one single party, can we speak of a party system? After all, a system – any system – has to comprise more than one unit, and its character as a system depends upon the interaction between the units which are its component parts. But I believe that it is reasonable, at least under certain conditions, to speak of one-party system, and that the erstwhile Soviet Union and the Peoples’ Republic of China today meet those conditions. Another innovation in the domain of political discourse is the idea of ‘partyless democracy’. Although that idea has a very different genesis from the idea of a one-party system, both ideas stress unity and harmony, and view dissent and disunity in a negative light. However, unlike one-party democracy, the idea of partyless democracy has not acquired any concrete organisational form so that it is difficult to say how it might operate in practice. It can be said that the idea of a ‘partyless democracy’ is a specifically Indian innovation. In the period after independence it came to be associated with one of the most eloquent among the political leaders of the country, Jayaprakash (JP) Narayan. Simultaneously, he also advocated the idea of ‘sampurna kranti’ or ‘total revolution’.

Jayaprakash’s yearning for partyless democracy arose from his growing frustration with the political parties of his time. The ideals of austerity and sacrifice, which had inspired many people during the nationalist movement and of which he himself had been a great exemplar, did not survive the attainment of independence for very long. The political parties became more, and not less venal and corrupt. Jayaprakash alternated between withdrawal from politics and return to it. He certainly had a great influence on political life, but even at the height of his influence, like Gandhi, he refused to accept political office. Perhaps he yearned for not only a political order without parties but also a social order without politics. JP turned to the ideals of communitarian politics after his disenchantment with the party system and, indeed, with the whole system of parliamentary democracy. Like Gandhi before him, he expressed a great fascination for the ‘village republics’ of the past. Not everyone yielded to the fascination for the village republics of the past. The person who attacked it most relentlessly was the architect of the Indian constitution, Dr. B.R. Ambedkar. He said that the village republics had been the ruination of India. What struck him most about the village was its

pettiness, its narrowness and its bigotry. No doubt the village community was free from the conflict of political parties. But was it free from factional strife? Factions have been a part of the social and political landscape of India and other countries since time immemorial whereas the political party is an innovation of modern democracy. To some extent factional politics is displaced by party politics, but not to the same extent everywhere. Factional divisions and conflicts, though present in all societies, do not affect the structure and organisation of political par-

ties in all of them equally. The strength of the political party appears to be inversely related to the predominance of factions in the social and political environment. Sometimes factions become so closely intertwined with the life of the party that they threaten to choke the operation of the system. The faction is not an institution in the sense in which a political party is. As an institution, the party has a charter and a mandate which sets out its aims and objectives. No matter how broad those aims and objectives may be, the party is expected to work towards them whether in government or in opposition. It is another matter that the same party often speaks in different voices in moving from one side of the house to the other. Despite the rivalries between them, political parties often come to resemble each other. In fact, it is these very rivalries that lead them to adopt similar tactics and strategies even when they start with different social and economic objectives. An institution is different from a mere collection of individuals. It has a life of its own and has not only its own aims and objectives but also its own interests which are different from those of its

individual leaders including its supreme leader. It is true, that powerful leaders are able to channel the activities of the party in ways that serve their personal interests even at the expense of those of the party. But it is always possible in the case of the party, at least in principle, to distinguish the interests, of the institution from those of the individual. This is difficult, if not impossible to do in the case of the faction which is only another way of saying that the faction, unlike the party, is not an institution. Whereas political parties are limited in number even in a multiparty system, it is difficult, if not impossible to tell the number of factions in any society at any point of time. It is difficult to count their number even in a limited geographical area because factions are by nature amorphous and fluid, running into each other, without the clear boundaries and the continuity over time, characteristic of an institution such as the political party. They overlap each other, split apart and combine with each other continuously over time. In India, factions and parties overlap and intersect to a large extent. Defections from one party to another are governed to a large extent by the compulsions of the alliances and rivalries

among factions. In India they have reached such proportions that parliament has had to enact legislation to penalize â&#x20AC;&#x2DC;floorcrossingâ&#x20AC;&#x2122; or defections within the House. However, such legislation can do little to prevent the movement of persons from one party to another outside the legislature. Coalition politics has given a new twist to the relationship between government and opposition. While there is a law which prevents defection from one party to another, a coalition

partner is free to withdraw its support from one block and either remain neutral or transfer support to another block. Such transfers may have something to do with matters of policy or even principle, but they cannot be made effective without the offer of material inducements. It is difficult to estimate how much money does actually change hands in the movement of individuals from one party to another outside the House or of parties from one block to another within it, but the sums alleged in the media are enormous. Power

brokers are constantly in negotiation with their allies, their rivals and their opponents to keep the party or the block of parties together and, if possible to augment its strength. The uncertain and volatile nature of the relations between parties in a coalition, whether in government or in opposition, creates an undercurrent of suspicion and mistrust, not only between adversaries recognised as such but also among individuals and groups expected to work towards a common purpose. The suspicion and mistrust do not go away when a partner does not actually withdraw support but only threatens to do so. They are magnified in the relations among parties that face each other as opposing blocks in parliament. The chronic mistrust between government and opposition impairs the foundations of democracy. Mistrust and suspicion on one side is met with concealment and evasion on the other. The very purpose of shaping the opposition into a responsible and legitimate political institution is frustrated. There are specific social and historical reasons that account for the failure of government and opposition to develop a healthy relationship between them. The Congress party established a position of political pre-eminence in the country through its opposition to colonial rule and its leadership of the nationalist movement. It stood from the very beginning, for the unity of India whereas its main adversary during the struggle for independence, the Muslim League, demanded the partition of India. Its opposition to the Muslim

League during the struggle for independence was carried over into a mistrust of all political parties that had, or appeared to have, a special association with any religious group, such as the Hindu Mahasabha and its various later incarnations. In addition, it opposed the Communist party because it sought to divide the people on the basis of class and because of what appeared to be its client status in its relations, first, with the Soviet Union and, then, with the Peoples’ Republic of China. It will not be an exaggeration to say that at the time of independence the great leaders of the nation were all leaders of the Congress party: Nehru, Patel, Azad and many others, with Gandhi himself towering above the rest, although by then he had become aloof from the affairs of the party and had only a few months to live. While most political parties now acknowledge Gandhi’s heritage, the Congress believes that it has a special claim on that heritage because of its historical association with it.

from outside the Congress, including some who had been staunch opponents of it, such as B. R. Ambedkar and Shyama Prasad Mookerjee. Not everybody in his party had Nehru’s spirit of accommodation. Others in it viewed the leaders of Opposition parties with condescension and contempt. As the Congress party became weaker and less self-assured with the passage of time, to contempt and condescension was added an element of fear. Nehru’s daughter, being suspi-

cious rather than trustful by nature, had a shrewd judgement of all her opponents, including those within her own party. As the number of claimants for perquisites and patronage grew within the party itself, there was very little scope for treating opponents with much generosity. The deficit of trust between the Congress and the other parties did not decline after Indira Gandhi’s two terms of office, but increased. Its brief spells in opposition did little to moderate the view the party held of its

After independence had been won and the country divided, and with the Muslim League out of the way, it seemed natural for the Congress leadership to feel that it had come into its own particular inheritance. Some had fought for the rights of the minorities, some for the rights of the backward communities, and some for the rights of workers and peasants, but the Congress party maintained that it alone had fought to bring freedom to the whole country. Nehru wanted to carry all Indians along with him. In forming his first cabinet he included persons

At the time of independence the Congress party took upon itself the historical responsibility of building democracy in India. It was then the only party that could reasonably be expected to undertake such a responsibility. It had inherited a great political tradition and it enjoyed abundant popular support. Its success in this endeavour has been at best limited.

opponents. While in office, its members began to act and speak as if they alone had the right to rule, not just during their allotted term of office but for all time. This has done little to encourage responsible conduct among members of the opposition. When they are unable to make their voices heard in parliament, they disturb its proceedings and take to the streets in an effort to paralyse the government. The Emergency of 1975-77 brought relations between government and opposition close to the breaking point. It shook peoples’ faith in the government, but what followed the Emergency did little to enhance their faith in the opposition. Since the Emergency, the government, of no matter which party or coalition of parties, has shown its feet of clay to the opposition over and over again. A large part of

There is a civil society, which will lead to the regeneration of India and we do not need the state, is I think, a wrong idea. the opposition’s time and energy is spent in catching the government on the wrong foot. An almost equally large part of the government’s time and energy is spent in prevarication and evasive action. In this process both government and the opposition lose their focus and ultimately their credibility. It becomes a hard task to sustain the spirit of democracy when the very institutions designed to embody that spirit have to contend with mistrust and suspicion at every turn.

There are many reasons behind the limited success of the Congress party. When in office, its leaders become so accustomed to its comforts that they find it painful to make room for others even within their own party, and show remarkable tenacity in holding on to their perquisites. Corruption has become a minor industry in the Congress party, and in that it has set an example for other parties. The party’s bondage to its first family has also set a bad example for others. Beyond that, there is a failure of imagination that weakens the fabric of democracy. A major political party has the right to believe that it can govern the country better than any other party. But that is different from believing that no other party can be trusted to govern it if it carries a different name or has a different history and a different political outlook. As that belief insinuates itself into the Congress consciousness, it begins to distort the very operation of democracy which requires the alternation of parties in the larger interest of the nation. If the leaders of the party are so possessive about their hold over the nation as to deny to any other party the moral right to govern it, then they must ask themselves what democracy means to them.

ADVaNCED MaNaGEmENT PROGRam

Bringing the Best of Global Management Practices

n keeping with global trends in business education, IILM Institute for Higher Education conducts Advanced Management Program regularly for senior managers and entrepreneurs. Designed by international faculty, it provides an interactive and dynamic opportunity to reflect and strengthen skills. The key focus of the programme is that participants can apply knowledge gained in this programme for results in their organisations. Not surprisingly, the feedback that we have received so far indicates that this programme helps participants take on additional responsibilities, enlarge their horizons, gain promotions and don new leadership roles. The first module on Global Political Environment was conducted by Dr. Shashi Tharoor. Professor John G. Shulman, an internationally recognised expert in negotiation and conflict resolution was invited to conduct the second module. A graduate of Harvard Law School, USA,

Professor Shulman has worked with the Harvard Program on Negotiation and has conducted a number of workshops for senior executives. He has also written books and other publications on negotiation land conflict resolution. The broad objective of the module on â&#x20AC;&#x2DC;The Art of Negotiationâ&#x20AC;&#x2122; was to help the learners develop knowledge, skills and attitudes required to be successful in modern business negotiating situations (both distributive and integrative). This includes negotiating and building mutually beneficial long-term partnerships in both individual and organisational environments. Some of the topics the module covered were basic principles of negotiation, importance of preparation and discipline, preparing for negotiations, calibrating expectations and risk analysis and implementing the optimal negotiation strategy. The feedback later from a participant, Rajiv Kumar, was that he was able to apply skills

imparted in this module to good use and benefited immensely. The module highlighted a three-step process of negotiation with the help of role plays and active interaction. Developing negotiation tactics while dealing with difficult people was an immediate implementable area. A most interesting activity for Dr. Harpeet Kaur, Associate Professor, Business Laws, IGSM, was conducted during the negotiation module where faculty members were divided into groups where one group had to negotiate with another.

Professor John G. Shulman, an internationally recognised expert in negotiation and conflict resolution was invited to conduct the second module.

The third module of the AMP was conducted by Dr. Catherine Thomas, a graduate of the School of Business, Columbia University and a PhD from Harvard in Business Economics. Currently, she teaches Managerial Economics at Columbia University. Prior to that, she worked overseas with McKinsey & Company for three years, with the McKinsey Global Institute and also with McKinsey & Company in Mumbai. Her papers have been published in American Economic Journal, Journal of Financial Economics,

It was a very interactive session where Prof. Thomas discussed cost analysis, breakeven analysis, demand and short run market equilibrium and their effect on production decisions and firm-level supply decision.

Management Science, and various other prestigious journals. In her module 'Managerial Economics' she provided an introduction to the economics of business decision-making. It covered the broad principles of marginal analysis, cost analysis and pricing. These principles shapes managerial decisions in all other functional areas of business: accounting, finance, marketing, and strategy. Dr. Thomas focused on identifying the categories of costs that are relevant for critical business decisions such as pricing, market entry or exit, and growth or downsizing of business lines or projects; construct fact-based, logically-grounded analyses of competition in highly fragmented markets and guide capacity expansion or disinvestments in these markets; use demand and cost fundamentals to determine profit-maximising pricing decisions; evaluate the profitability of current pricing policies; and use pricing strategy to enhance value creation. It was a very interactive session where Prof. Thomas discussed cost analysis, break-even analysis, demand and short run market equilibrium and their effect on production decisions and firm-level supply decision. The participants also gained insights on the sources of sustainable competitive advantage in the market as well as about market power; and monopoly and monopolistic competition. IILM's Bhumika Chawla's most important take-away from the workshop was from a case study analysis and learning how to deliver quality course with heavy content in a given time

frame. Deepa Bhaskaran, seconded Bhumika's opinion on cracking the case study being the most important learning as it required analytical skills and was quite challenging. Dr. Scott.J.Armstrong of Wharton School, was invited to conducted the fourth module of the IILM Advanced Management Program on Persuading Customers, Clients, Employees and Others. A member of the Wharton marketing faculty, Professor Armstrong received his PhD in Management from Massachusetts Institute of Technology. A University of Maryland study ranked Professor Armstrong among the top 15 marketing professors in the U.S. He was awarded the Society for Marketing Advances Distinguished Scholar Award for 2000. One of the most frequently-cited marketing professors worldwide, his "first-author" citation rate currently averages over 200 per year. His book, Persuasive Advertising was published by Palgrave Macmillan in 2010.

The primary objective of this module was to share knowledge about persuasion which is summarised in principles. This three day module translated knowledge about persuasion into evidence-based principles. Useful knowledge about persuasion has been obtained over the last 100 years from the experience of advertising experts and from empirical studies in advertising and other fields including psychology, consumer behaviour, law, mass communication, politics, and propaganda. These condition-action statements specify how to persuade and advertise in each type of situation. Statements/advertisements that follow the principles will turn out to be more persuasive. The discussions and exercises provided understandable and easy-to-access guidance for all types of advertising. They also apply to other types of persuasive communications such as management reports, speeches, and press releases.

The opinion that the subject of accounts does little to fire oneâ&#x20AC;&#x2122;s imagination was proved wrong by Dr. R Narayanaswamy, who conducted a two-day seminar on Advanced Management Programme at IILM Institute of Higher Education on June 19 and 20, 2011. The masterly fashion in which Dr. Narayanaswamy tackled this complex subject astounded one and all, who had had the good fortune of attending these sessions. That Dr. R Narayanaswamy is an authority on accounts is stating the obvious. Not only is he the faculty member of the prestigious IIM, Bangalore, he is also a PhD (Accounting) from the University of New South Wales, Sydney, Australia; an ACA from The Institute of Chartered Accountants of India, New Delhi; an AICWA from The Institute of Cost and Works Accountants of India, Kolkata and an ACS from The Institute of Company Secretaries of India. He was kind enough to accept IILMâ&#x20AC;&#x2122;s invitation to share his knowledge on accounts with the students.

the use of teaching aids were exemplary, as he made the participants decipher Company Annual Reports right there and then. According to him, accounting is a language of business which is used to communicate the health of the business through the financial statements, namely, balance sheets, income statements and statements of cash flows. Stressing the importance of accounts, he said that all organisations use accounting information to communicate their financial performance and financial position to the stakeholders. The AMP Module on Accounting for Decision Making was a thumping success and it is entirely to the credit of Dr. Narayanaswamy that this session turned out to be an excellent learning experience for all the participants.

In this two-day session, Dr. Narayanaswamy touched upon the basics of accounting and presented most relevant examples, culled out from live situations encountered in companies. He not only made the students understand the various financial statements and annual reports, but also explained how to analyse and interpret the data contained in them for

improved decision-making. He also laid bare the framework of accounting concepts and standards and policies that govern the preparation of the financial statements. The insight that Dr. Narayana-swamy provided about accounts proved most enlightening and caught the instant fancy of the participants for this often less than popular subject. His teaching method and

YOUTH CULTURE

The Cult of Hip-Hop

ip-hop is not just a dance form that involves fancy acrobatics, it's also a movement that reflects the collective memory of the struggles of the Black-American people to save their unique identity through centuries of discrimination. Hipâ&#x20AC;&#x201C;hop, from its very beginnings to recent times has been including newer and more radical forms of performing in its â&#x20AC;&#x153;cipher1. From these ciphers have emerged an inimitable and self referential performative vocabulary, unique to this performative form. Whether itâ&#x20AC;&#x2122;s MCing or DJing, Bboying or the muchdetested graphiti, hip-hop is known worldwide not as a dance or music form, but as a culture. Initially, hip-hop was deemed a passing fad, a good-humoured and temporary cultural form of the Black-American youth that helped them vent their musical energies. But this was in the early 1970s; by the end of the decade it was clear that hip-hop

Vartikka Kaul Lecturer, IILM School Of Design, Gurgaon

was here to stay, not just as the part of the performative site of the Black-American youngster living in a ghetto; but as a part of their identity. While this identity was proudly proclaimed in the rap, it also became the landscape of protest against the issues of racism, unemployment, abuse, disrepute and poverty that plagued this community of African origin. According to many hip-hop aficionados, its culture consists of at least four fundamental elements: Disc jockeying (DJing),

break dancing, graffiti art, and rapping (emceeing). Since its emergence in South Bronx and throughout north-east America during the early and mid-1970s, hip-hop has encompassed not just a musical genre, but also a style of dress, dialect and language, way of looking at the world, and an aesthetic that reflects the sensibilities of a large population of youth born between 1965 and 1984.2 This broad characterisation of hiphop may seem imprecise to some, but it reflects the community's refusal to be singularly defined or categorised, and demonstrates the dynamic nature of hip-hop as a phenomenon that many hip-hoppers believe must be felt, experienced, and communicated.3 This communicative strategy came up in the form of a new performative culture (encompassing singing, dancing, writing, acting and acrobatics) simultaneously in many parts of United States as well as Latin America, making it virtually im-

possible to track down a chronological history of this movement. But it might be interesting to try and put the hip-hop movement in a historical perspective and investigate how it became an identity for Black-Americans, which however often ended up being misperceived and misinterpreted.

Unraveling the rap Most practitioners and academicians agree that the origins of this form lie in the 18th century

In 1959, the CrossBronx Expressway was built through the heart of Bronx, displacing many of the middle-class white communities and causing widespread unemployment among the remaining Blacks as stores and factories fled the area.

slavery in America which uprooted millions of Africans from their native land (called the Zulu land in hip-hop vocabulary). At that time, white Americans (European origin Americans) practised minuet, waltz, ballroom etc and the African slaves tried to mock their mastersâ&#x20AC;&#x2122; moves while incorporating their own rhythms and tribal African elements of leaps, hops, drops, falls and skips often imitating a bird, fish or snake. This dancing happened within their communities and included incessant drum-beats and African oral tradition of repeating phrases rhythmically. 2 Â It continued to evolve underground for over two centuries till the advent of the civil rights movement in the United States, led by Martin Luther King Jr. aimed at abolishing public and private acts of racial discrimination and racism against African-Americans between 1954 to 1968, particularly in the southern United States. It is sometimes referred to as the Second Reconstruction era. Post the era, contradictions emerged within the egalitarian society which the reconstruction proposed and the black-white divide

that ran deeper than the lawmakers ever thought. The laws claiming equality lay on paper while black population continued to face social and economic discrimination. In the middle of this social and political upheaval, certain events accelerated the rise of hiphop, taking on from centuries old underground performative culture of Black population. In 1959, the Cross-Bronx Expressway was built through the heart of Bronx, displacing many of the middle-class white communities and causing widespread unemployment among the remaining blacks as stores and factories disappeared the area. By the 1970s, poverty was rampant. When a 15,000+ apartment Coop City was built at the northern edge of the Bronx in 1968, the last of the middle-class fled the area and the area's Black and Latino gangs began to grow in power. On August 11 1973, Jamaican DJ Kool Herc was a DJ (Disc Jockey) and MC (Master of Ceremonies) at a party in the recreation room of 1520 Sedgewick Avenue in the Bronx adjacent to the

Cross-Bronx Expressway. It was not the actual birthplace of hip-hop as the genre developed slowly in several places in the 1970s. But it was verified to be the place where one of the pivotal and formative events occurred. Specifically, DJ Kool Herc extended an instrumental beat (breaking or scratching) to let people dance longer (break dancing) and began MC’ing (rapping) during the extended breakdancing. This helped lay the foundation for a cultural revolution and DJ Kool Herc came to be known as the ‘Godfather of Hip-Hop’.5

This song along with some others pioneered the social awakening of hip-hop and rap into a form combining social protest, musical creation and cultural expression.6 By 1974, graffiti expressing the disappointment of the Black youth was seen all over the walls of Bronx and quickly spread all over the New York City subways; much to the dismay of the administration. Many regulations were passed and extreme measures were taken to control the spread of graffiti which included patrolling of subways by dogs, but it continued unabated.

The space of the performance was vital as Bronx audience was dominated by Black-American youngsters, mostly poor, unemployed and disillusioned with the so-called reconstruction, as well as caught up in problems of drug addiction, sexual abuse and exploitation by police. Many new faces emerged on the hip–hop arena like Afrika Bambaataa, Kurtis Blow, Clark Kent etc. and their rapping began to analyse socio-economic and political factors that led to its development. ‘The Message’ by DJ-rapper Grandmaster Flash, painted the grim reality of the life of a Black-American in the catastrophic urbanity of the country:

Hence hip-hop came to be recognised as a resistant lifestyle that included not only rap, but also break dancing, graffiti, attitude and language. It was about being a spokesperson and representative, for those without power, a political voice; with rap providing focus for a symbolic resistance and symbolic power for alienated minorities. The philosophy embodies not just a need to fight the power but also a need to claim it.

You will grow up in the ghetto living second rate/ and your eyes will sing a song of deep hate/ the places where you stay and where you play/looks like one big alleyway/you will admire all the number book takers/thugs, pumps, pushers and the big money makers/driving big cars and spending twenties and tens/ and you will grow up wishing to be just like them…..

Above, all it’s about history, symbols or statements of realism, marginalisation and social situations, geography, youth and ethnicity. Geography is significant in creating its own codes of a u t h e n t i c i t y. 7 The hip-hoppers were trying to acknowledge their past through reconnecting themselves to Africa and distancing themselves from the whites. At the same time, they were claiming power

– economic, social and political – as equal citizens of America. It was like looking back at their cultural identity and at the same time looking forward to national one.

The case of mistaken identities The growing success of hiphop led to a popular perception that it causes violence due to its aggressive expression of words and body. Former second lady of the United States, Tipper Gore has criticised rap on many occasions as something that appeals to ‘unloved disillusioned kids’ and ‘tells them that it’s ok to beat people up’. The frequency of violence in rap concerts in United States has reinforced the opinion that hip-hop is linked to mindless violence. Such aggressive behaviour generally results

The hiphoppers were trying to acknowledge their past through reconnecting themselves to Africa and distancing themselves from the Whites.

The power of hip-hop lies in its energetic dance moves, compelling beats, rhythmic cadence of its lyrics and its assertiveness in addressing social problems.

from two factors: either, reluctance to listen to the rap lyrics or an indisposition to fathom the real meaning of the words. More often than not, hip-hop performances and rap is meant to address social problems, identity crises and problems of drug abuse. Many rappers have directly addressed violence like KRS-One in his song ‘Stop the violence’. In the following top-selling record, Self Destruction (1989), he insists that violence predates Hip-Hop and speaks against the escalating Black on Black crime, which is eroding the social and communal fabric of the already debased black communities across America:8 Well today’s topic is self destruction/ it aint the rap audience that’s bugging/ its one or two ignorant brothers, trying to rob and steal from one another.. Coz the way we live is positive/ we don’t kill our relatives.. Back in the sixties our brothers and sisters were hanged. How could you gang bang/

I never ever ran from the Ku Klux clan and I shouldn’t have to run from a black man/ Coz that’s self destruction/you headed for self destruction… The lyrics use a self-referential phraseology, referring to the history of trauma faced by Blacks as well the sense of community that kept them together. Though the tone might seem aggressive, the message is loud and clear, that violence will lead to selfdestruction. Despite such potent messages, people (including Blacks) continue to appraise Hip-Hop negatively, refusing to accept the difference between the empowering and dynamic message of the rap and its critical reflection of the violence in the society. It mirrors the frustrations of the youth and the tone is indeed provocative, but it never instigates violence. hip-hop stands for social and cultural change and a reinvention of the minority identity, it encourages people to stand up for equal rights and speak up against any exploitation; the elements that are key to any free nation. The power of hip-hop lies in its energetic dance moves, compelling beats, rhythmic cadence of its lyrics and its assertiveness in addressing social problems. The space of hip-hop also is unmediated by state’s agenda, cultural projects and commercial interests; it’s often an open transcendental space free from the usual trappings of audienceperformer separation. The MCs rap, DJs co-ordinate music, B boys or break boys dance and audience joins in freely. There is no marked performative area or a choreographed set of events,

yet the happenings in a hip-hop performance are not random, like for example in a disco or nightclub set-up. While a powerful rap provides a strong sense of self-expression and empathy with contemporary issues, the dance moves, music, linguistic codes as well as dressing style of both performers and audience confirms the belongingness to this culture of hip-hop. The dynamic nature of this culture took it all over the world and it was imbibed even in countries like Cuba, Havana, Japan and South Korea which have extraordinarily rich performative cultures of their own. From its modest beginnings in the 70s, Hip-Hop has become one of the most popular performative cultures of the world with an overwhelming media profile. But the form has definitely undergone a sea change and has little left of its potent and prolific beginnings. The fundamental aspects of race and class in America have shifted in profound ways. Hispanics are now a larger minority as compared to AfricanAmericans in the US. Even the politics of Black identity is not what it used to be, as seen in the recent tensions in the campuses between Africans of Americans decent and Africans of African descent. It’s the multicultural, multiracial era being presently negotiated through the face of President Barack Obama. The Black identity is a tangible reality no one can ignore or sideline anymore. Hip-Hop icons like Eminem, MC Serch, and Vanilla Ice are non-Black and rapping is not limited to young Black teenagers anymore. There was a celebration when Hip-Hop beats

and moves made their way from parks to clubs and stadiums; but now they have moved on further into very prominent public sphere of elevators, supermarkets and even clinics. Hip-Hop has gone from being invisible to visible to ubiquitous.9 But it does not mean that Hip-Hop has lost its political character, rather, it has merely renegotiated the dimensions of the underground identity it had. Rappers are still not known by their real names, codes of hiphop appearance remain the same and rapping is still the site of political dialogue. The political rapping in the past has had two important characteristics: an aggressive external roughness and an equally effective interior mirroring. The present artists belong to the second category â&#x20AC;&#x201C; contemplative, faithful and eccentric. The dominant antiracist character of the Hiphoppers has largely shifted to gender issues, crime and sexual health. For example, the Hip-Hop group Black Noise spearheads the campaign for AIDS awareness in both United States and South Africa. Prominent Hip-Hop group Blues, pays a subtle tribute to the modest living conditions, the survival instinct and the Hip-Hop culture in the chorus of their seemingly romantic track, One Love. The chorus articulates the continuing desire and claim of a Hip-Hopper for love, respect and acceptance in the white world; despite the differences of race, origins and culture. The song was not just a multi-platinum hit; it became the soundtrack for the AIDS awareness and family planning advertisement campaign all over Africa between 2006-08.

In conclusion, one can say that the character of the Hip-Hop movement has gone from being a deeply aggrieved expression of the marginalised to a more restrained form of lyrical foray into the personal and social issues. The terror associated with hip-Hop has also become a thing of past, not just because the culture has become less aggressive, but mainly because the world unfortunately has come to realise a much more horrific, stark and material face of terror. Hip-Hop continues to evolve and reformulate itself in the changing cultural contexts, time and spaces and includes within itself newer performative forms. It continues to negotiate with the current individual identities;

blackness or otherwise the midst of internal and external conflicts. Owing to its dynamic form, it is now one of the few performative cultures that perhaps would always be defined as current or contemporary.Â

In conclusion, one can say that the character of the hip-hop movement has gone from being a deeply aggrieved expression of the marginalised to a more restrained form of lyrical foray into the personal and social issues.

Footnotes 1. Cipher here refers to the imaginary circle that hip hop dancers form on the floor while doing the floor-routines 2. According to author Bakari Kitwana, the Hip Hop generation is comprised of those born between 1965 and 1984 who identify with the language, culture, and music associated with Hip Hop. 3. Introduction:; Hip Hop in History: Past, Present, and Future by Derrick P. Alridge and James B. Stewart; The Journal of African American History, Vol. 90, No. 3, The History of Hip Hop (Summer, 2005), pp. 190; Published by: Association for the Study of African-American Life and History, Inc 4. Breaking: The History by Michael Holman; from The Hip-hop Studies Reader; Edited by Murray Forman & Mark Anthony Neal; pp 31; Published by Routledge 5. Birthplace of Hip Hop hosted by Tukufu Zuberi, History Detectives on abc network, Season 6, Episode 11, New York City, found at www.pbs.org 6. The Culture of Hip-hop by Michael Eric Dyson; from The Hip-hop Studies Reader; Edited by Murray Forman & Mark Anthony Neal; pp 62; Published by Routledge 7. Music, Space and Place: Popular Music and Cultural Identity by Sheila Whiteley, Andy Bennett, Stan Hawkins; pp 8; Published by Ashgate Publishing, Ltd 8. The Culture of Hip-hop by Michael Eric Dyson; from The Hip-hop Studies Reader; Edited by Murray Forman & Mark Anthony Neal; pp 62; Published by Routledge 9. The Future is History: Hip-Hop in the aftermath of (post) modernity by Russell A Potter from The Resisting Muse: Popular Music and Social Protest by Ian Peddie, pp 66-67; Published by Ashgate Publishing, Ltd., 2006

PuBlIC POlICy

Governments and Business: An Emerging Indian Perspective

Malvika Mago Assistant Professor, Marketing & Sales, IILM Lodhi Road

In today’s global business environment, a nation’s current standing in the world order and its future prospects influence business interests too.

overnments’ impact on business is sometimes absolute and pervasive. It manifests itself in economic policy measures – taxes, subsidies and interest rates – all of which affect investment and the propensity to save. The government also exerts its power through its overall outlook on trade and business. In today’s global business environment, a nation’s current standing in the world order and its future prospects influence business interests too. By its very definition, international business does not depend on any specific government of the world – but on world politics as a whole. Therefore, political events in other nations can, and does have an impact, sometimes a staggered one, on the business of a nation. Some basic factors such as the type of government, its stability, its economic policies – specifically relating to starting up a business, incentives for new businesses and so on – play a role in determining business activity within a nation. For instance, in the case of a democratic nation such as India, a coalition government that is

bent upon adopting populist policies, for instance, can lead to a less-friendly environment for private enterprise. On the other hand, the foreign policy of a nation and its relations with other countries – both the politically powerful and resourcerich – influences the level and confidence of business activity directed abroad. Of course, there are certain things that cannot be helped – landlocked countries, for example, have a pronounced disadvantage in linkages with other nations.

Business environment The 'ease of doing business' – a phrase used for the multiple efforts required on the part of entrepreneurs who wish to start a new business, including licenses and permissions to be obtained, the amount of fee to be paid and procedures to be followed before actually being able to 'kick-start' the intended business activity – is a useful indicator of entrepreneurial thrust in a nation. Examining the world order for doing business presents an interesting picture of how various world economies are lined up along the 'ease

of doing business' indicators. According to Doing Business 2011: Making a Difference for Entrepreneurs, the eighth in a series of annual reports published by International Finance Corporation and the World Bank, among the world's economies, Kazakhstan improved business regulation the most in the past year by improving conditions for starting a business, obtaining construction permits, protecting investors and trading across borders. This year's list of the 10 most-improved economies, apart from Tajikistan and Hungary, also included three in sub-Saharan Africa—Rwanda (a consistent reformer of business regulation), Cape Verde, and Zambia—as well as Peru, Vietnam, Grenada, and Brunei Darussalam. For the fifth year running, Singapore led in the ease of doing business rankings, followed by Hong Kong SAR China, New Zealand, United Kingdom and United States. Globally, doing business remained easiest in the high-income economies of the Organisation for Economic Co-operation and Development (OECD) and most difficult in SubSaharan Africa and South Asia. But developing economies became increasingly active. In the past five years, about 85 per cent of the world's economies have made it easier for local entrepreneurs to operate, through 1,511 improvements to business regulation. China

and India are among the top 40 most-improved economies. Upon closer observation, one can discern the undercurrent of government policies and outlook towards business in the performance of each of these economies in doing business. Looking at India's lowly ranking of 134 amongst 183 economies, it is obvious that it is not that 'easy' to do business as per the parametres set by the World Bank. However, as seen by business and economic leaders of the world, India holds a lot of promise. Anand Sharma, minister for commerce and industry feels that 'India is changing and is becoming the land of opportunities. The pace at which India is growing, it will remain so for decades to come. India remains one of the top three investment destinations even in recessionary conditions and we are determined to maintain that position.' His thoughts are echoed by Lars H. Thunell, Executive VicePresident and Chief Executive Officer, International Finance Corporation, who believes that, 'India has come through the (economic) crisis better than other countries. We have growth here. This is a big market and there is opportunity for firms to come in here....' Going by this sentiment, India has reason to rejoice, and our Prime Minister, Dr. Manmohan Singh clearly feels so, when he

says that 'India looks to the future with confidence. We are confident of meeting the domestic and international challenges towards faster and inclusive growth. We are also better placed than any time in the recent past to push the reform process forward. I believe we have a bright future if we make use of strengths and the opportunities that we get.' Ernst & Young's Doing Business in India report supports this optimism and states that India’s economy has strong fundamentals and is host to several eminent global corporate giants that are leaders in their respective fields. According to the Global Competitiveness Report 2009– 10, India occupies the 49th place among 134 countries. The country ranks higher than many advanced countries in key parametres such as domestic market (4th) and innovation (28th). It also has a sound financial market (16th) and a strong banking sector (25th). India ranks third among the most attractive destinations for foreign direct investments in the world.

In the past five years, about 85 per cent of the world's economies have made it easier for local entrepreneurs to operate, through 1,511 improvements to business regulation.

liberalisation and globalisation have ushered in increased competition both domestically and internationally.

International trade Indeed, its efforts in promoting domestic and foreign trade stand witness to the above observations. India has taken significant strides in the path of progress. Special Economic Zones (SEZ) established for promoting foreign and domestic trade in the country, as on 30th June, 2010, had an investment of more than Rs. 1,66,526 crore according to the Department of Commerce, Ministry of Commerce & Industry. The total physical exports of Rs. 2,20,711 crore approximately were made from SEZs during the year 200910 registering a growth of about 121 per cent over the exports for the previous financial year. As of 2009, 130 SEZs are operational in India, including those established by the central and state governments and private SEZs. These exert a positive force by encouraging entrepreneurial activities. Although the first SEZ was established by the government in 1965 (at Kandla, Gujarat),

Special Economic Zones (SEZ) established for promoting foreign and domestic trade in the country, as on 30th June, 2010, had an investment of more than Rs. 1,66,526 crore according to the Department of Commerce, Ministry of Commerce & Industry.

over the years, realising the importance of such free-trade activity to the business health of the nation, more SEZs were set up, and in 2000, an SEZ policy was announced. All of these efforts have been initiated only in the last 20 years, post the economic liberalisation in 1991. Prior to that, India was a highly protected market. Not only were the domestic producers protected from foreign competition, but domestic competition was also restricted by several policyinduced entry barriers. Economic

The Indian government's efforts has been noteworthy on the foreign trade front as well. A scan of news released by the Department of Commerce, Ministry of Commerce & Industry, highlights key trends. India and Italy's bilateral trade, for instance, is expected to double in the next five years; India-Korea trade target of $ 30 billion will be achieved by 2014; India and Denmark have agreed to focus on IT, telecom, biotechnology and food processing for mutually beneficial economic engagement. Not just with developed nations, India has significant trade with the developing nations too. India-Indonesia trade touched $10 billion during JanuaryOctober 2010; the total bilateral trade between India and Brazil increased from $ 589.2 million in 2003-04 to $5,852 million in 2009-10; India’s total trade with Kenya was $ 1,530 million;and India and Peru plan to enhance economic cooperation. Further, India's commerce minister, Anand Sharma, has recognised the huge untapped potential for investment and trade between India and South Africa. India has a number of free trade agreements/preferential trade agreements with the Commonwealth nations – South Asia Free Trade Agreement (SAFTA), South Asia Preferential Trade Areement (SAPTA), India-ASEAN FTA, India-Singapore Comprehensive Economic Cooperation Agreement (CECA) and India– Sri Lanka FTA, to name a few.

Other free/preferential trade agreements in the pipeline are the India-EU Bilateral Trade and Investment Agreement (BTIA), Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (BIMSTEC), Southern African Customs Union (SACU) and those with Mauritius, Malaysia, Canada and New Zealand. All these agreements will strengthen India's trade and status in the world. Examining India's overall foreign trade as of December 2010 as per data available with the Department of Commerce, Ministry of Commerce & Industry, the cumulative value of exports for the period AprilDecember 2010 was $164.7 billion, registering a growth of 29.5 per cent in dollar terms over the same period last year. The cumulative value of imports for the period April-December, 2010 was $246.7 billion, registering a growth of 19.01 per cent in dollar terms over the same period last year. The trade deficit for AprilDecember, 2010 estimated at $82 billion was higher than last year. This negative balance of payments situation is of concern to the RBI and the Government needs to increase the thrust on exports to improve the situation.

Investing overseas Many Indian companies now invest overseas and have reaped the benefits of enormous business opportunities abroad – both in developed and developing economies. In today's economic scenario, business synergies is one of the primary reasons for investing abroad. At a time when companies have to face interna-

tional competition, it has become critical for them to perform at their optimum. To achieve this, many Indian companies are looking at international mergers and acquisitions to build efficiencies in their business. For example, the recent tie-up between BP and Reliance Industries will help the latter build efficiencies in its refining operations. Another case is of Indian companies acquiring natural resource assets like shale gas and coal mines to provide for their future power generation needs. Similarly, domestic demand constraints, that is, the situation of the domestic market potential being fully tapped, pushes businesses to look abroad. Technological advances have increased the size of optimal scale of operations in many industries, thus making it necessary to have foreign markets in addition to domestic ones. A recent example is Bharti Airtel, which entered the African market as the mobile service penetration in India is fast approaching saturation, and the African continent provides a growth opportunity with its low penetration of mobile services. It is without doubt that international expansion helps an organisation improve its image in the domestic market, thus increasing its market share. If one were to look into the future of India's performance in international business, there are a number of challenges for Indian companies in their endeavour to become successful global players.

Threats and challenges There is the constant looming threat of India being labelled

as a job-poaching economy, thanks to its successful stride in the business process offshoring. The United States contemplating sanctions to prevent outsourcing to India so that its citizens' unemployment rate decreases is a case in point. This people-friendly policy of the US government ensures it has a longer term in office, but is negative for India's services exports. Also, all developed economies are in the race to control precious natural resources – oil being the most important. The Indian government must lobby hard to ensure that its economy and business have an adequate supply of these resources such that they do not impede its progess in any way. India must also improve its image as a destination for foreign direct investments. The two major areas of improvement are infrastructure (roads, ports etc.) and removal of protectionist policies with respect to foreign capital inflow. Lastly, a peaceful subcontinent is in the interest of all nations – and most importantly for India. This not only means avoidance of political tiffs with neighbouring nations, but also thwarting any terror activities. When compared with most world economies, India is placed on a higher pedestal both structurally and demographically. Gradually, albeit steadily, it is moving up the power-ladder of the world order. In this quest for progress, it is imperative that India makes more friends than foes because if India fails to do so, global politics can stack up against its march.

DIFFERENT STROKEs

Management Lessons from Sports: Inspirations from Joseâ&#x20AC;&#x2122; Mourinho

oseâ&#x20AC;&#x2122; Mourinho, the most reputed football team manager has never played senior football himself but is now the worldâ&#x20AC;&#x2122;s most famous and the highest paid manager. He guided FC Porto to win the UEFA Champions League in May 2004 and immediately resigned as the manager of the Portugese Soccer Team. After winning that final he took over as the manager of Chelsea Football Club, a club which had never won a first class title till then. Mourinho took the challenging job, where he coached them to their first title in 50 years. Chelsea also set a new record of 64 unbeaten home matches under his reign. The question which arises here is: how can someone manage a team so well in order to achieve success? And the answer is, it's not a magic or rocket science. It took some basic plans which were implemented properly in order to achieve the desired outcome. A sequential plan has to be considered which would help the business grow and achieve the desired goals.

VINUSHA KANNAN Faculty Associate OB & HR, IILM Gurgoan

The first step is to identify the problem. Most of the time we consider the apparent problem as the actual problem. But a deep analysis of the problem is required in order to know the real problem. For example, the apparent problem confronting an organisation

could be failure of a new product in the market. But on a deeper analysis, it could be found that the actual problem is either the high price of the product, or the wrong STP or any other related issue. Thus, organisations must go beyond the apparent problem in order to identify the actual problem. Organisations should consider not only issues at hand but also the ones it might have to tackle in the future. They should identify the issues of the future which might require actions to be taken at present. The second step in this regard for any organisation is the identification of objectives. The organisation should list out the objectives or the short term goals that are required to be implemented in order to overcome the problems identified above. These objectives are the stepping stones to reach the final destination or the intermediaries in achieving the final goal. In the above mentioned problem, the objectives could be doing a market research for the product, a competitor study in terms of the price, working on the design of the product etc.

Key lessons His implementation of plans can be fostered by business managers too in the following manner: Role

Jose' Mourinho

Business Managers

Plan

Sets aims (win the Champions League)

Have clear aims or goals to achieve. The goals thus set should be SMART (Specific, Measurable, Achievable, Realistic and Time Bound)

Organise

Picking the team, buying new players, setting formations etc

Hiring new staff and buying new machinery and eq uipments as per the requirement to achieve the goal.

Command

Rules and discipline

Discipline, Code of conduct, Policies and Standard Operating Procedures to be in place.

Control

Use of substitutes during match, transfer window

Quality control checks, budgets, evaluation of performance from time to time.

Coordinate Looking after players, making sure medical team etc are experts too

Supervising staff and giving support on timely basis, managing different groups and teams properly within the organization

Delegate

Assisted different experts for different training purpose.

Give tasks to team leaders or supervisors and keep a check on them as per the requirement.

Motivate

Motivational team talks inculcating the belief to achieve the goal.

Bonuses and appropriate performance management systems.

Once the objectives are clear, gathering all the relevant information both internal as well as external pertaining to those objectives is important. Information is facts, figures and data that have some meaning within the context of the organisation. It is very crucial for any business to have relevant and up-to-date information from within the organisation in ways such as standard operating procedures, sales report, production details etc. From external sources, it would be information regarding the customers, competitors and the market environment. Information in hand is of no use unless analysed and used effectively wherever required. Naturally then, the next step is to analyse the information gathered. Analysis of information could either be done by electronic devices or manually, as per the requirement. The organisation

must try to find out what could be the physical, financial and human constraints which may crop in and hinders their goals or objectives. No organisation can take a decision without analysing itâ&#x20AC;&#x2122;s pros and cons or without having proper alternatives. The next step for an organisation is to devise alternative solutions. It should come up with a number of possible alternative solutions to the problem after thorough analysis of the information gathered. It happens by listing down the relevant alternatives which might succeed in fulfilling the objectives by eventually overcoming the identified constraints. For example, the objective of market research could be done either by inhouse employees or could be outsourced to some external agencies. Once the alternatives are listed, the organisation then should select

Communication among the team regarding decisions to be implemented is very crucial for the success of any team, whether it’s a business team, sports team or any other team

the best alternative solution in terms of the one which is most likely to achieve the objectives successfully. Analyse the pros and cons pertaining with each of the identified alternatives. Also, look for the risk attached with each of them on implementation and the eventual threat it may pose for the organisation, if failed. For example, if the market research is done by in house employees, then they might require some training before it could be done. On the contrary, if it is outsourced, then the company’s crucial information may not re-

main intact. Thus, the company should decide accordingly, by evaluating all the cost incurred on all the alernatives (monetory as well as non-monetory). Decision-making also becomes very haphazard if it does not get communicated through a proper communication channel. It may come up in the grapevine in the organisation which could eventually hampers the working within an organisation. Communication among the team regarding decisions to be implemented is very crucial for the success of any team, whether it’s a business team, sports team or any other team. The decision to be implemented should be discussed among those involved in implementing it so that a different perspective of the same can be attained. When all the analyses and communication is done regarding the alternatives, the next step is the implementation of the solution. The organisation should put the solution into effect after consulting it with everyone involved in it’s implementation at all the levels. It is usually seen that good decisions may have less-than-desired results mainly, not because of their validity, but because of the gaps in their implementation. Proper planning, coordination

and direction is required in order to successfully implement the decision. Timeliness of implementation is another crucial aspect in this regard. For example, a new idea if not implemented in time, might be adopted by competitors. The role of the organisation does not stop here. The concluding step in this area is to evaluate the effectiveness of the solution by analysing it after implementation successorientation. The organisation must undertake the remedial actions on the basis of the evaluation as soon as possible if required. For example, the feedback given by the customers should be taken into consideration and should be incorporated as and when possible. Thus, we can learn many management many lessons from sports which can be incorporated into the business management. Jose’ Mourinho is just one such example. In sports, though there are many other aspects which contributes to it’s success or failure, the key lies in the players, managers and the supporting staff. And similarly, the key to any business enterprise also lies with the employee. Therefore, it is the organisation’s responsibility to manage, encourage and build a strong people bench that would help the business grow and achieve the desired goals.

Current Landscape of the United States Retail Pharmacy Industry with the retailing world is pharmacy which is the combination of both prescription drugs as well as OTC drugs. As in U.S., pharmacy retailing is a complete business, therefore it requires understanding of drug dispensing and healthcare management process.

U.S. is undoubtedly the leader of the retail industry. An important segment within the retailing world is pharmacy which is the combination of both prescription drugs as well as OTC drugs.

BHAWNA AGARWAL Associate Professor Quantitative Techniques, IILM Lodhi Road

n the global economy era, retailing is the primary driver. 21 of the top 50 retail organisations in the world are U.S.-based companies [Deloitte Report]. By considering the revenue numbers, U.S. is undoubtedly the leader of retail industry. An important segment

Almost every American needs to enroll him/her in a health insurance. Also, the federal government facilitates the reach of affordable healthcare to every individual. Thatâ&#x20AC;&#x2122;s why there is a major competition among all in this field to establish their presence as a leading pharmacy retailer across the whole of USA. The American retail pharmacy is growing day by day and would be no less than the conservative estimate of $900 trillion [neiu.edu]. The pharmacy retail market is divided into two parts in U.S.: 1. Generics â&#x20AC;&#x201C; The scientific or generic name for the active ingredient of the medicine that is decided by an expert committee.

2. Brand – The brand name given to a medicine by the drug company that makes the medicine. And the major players in the U.S. retail pharmacy industry are: • CVS • Target • Jewel Osco • Meijer

• Walgreens • Wal-Mart • Kmart • Sears

As the retail pharmacy industry encounters challenges of this current economic recession, they are realizing that these organisations are sitting on a potential gold mine of new set of customers with a new set of requirements. But these come with a need to look beyond their existing operating boundaries. For example, Walgreens is principally a retail drugstore chain that sells prescription and non-prescription drugs and general merchandise. General merchandise includes other things: beauty care, personal care, household items, candy, photofinishing, greeting cards, convenience foods and seasonal items. Customers can have prescriptions filled at the drugstore counter as well as through the mail, by telephone and via the internet. Also, the companies are starting to offer a broad range of services by going into a mode of vertical integration. The federal government has brought in a condition for the large pharmacy retailers to give a part of their margins for the society to be served at large. Thats why they need to negotiate largely with the manufacturers and the wholesalers to reduce the input cost for bulk order quantity. For any new retail pharmacy entrant in a new state, it needs

to lobby with the federal government for big tax deductions as each state in USA has a different set of laws for any new business to set up in U.S. This is being bargained in federal healthcare programme for the underprivileged. Looking to the growth in competition with the companies which are not specialized in retail pharmacy like Meijer,Wal-Mart, Sears and others, the retailers whose main competence is the retail pharmacy also need to be expanded. The retailers whose core competence is not pharmacy is offering low price generics that is the biggest crowd puller in this tough competition. The low price generics offer hurts the margins of the retail pharmacies, as the consumers shift from branded to generics and if the retail pharmacies do not offer a competent price, they would lead to loose their customers. That’s why retail pharmacies in th US negotiate heavy discounts from the manufacturer on branded drugs in exchange of bulk orders which yield huge profits to them. Finally, looking at growing competition in this sector, companies would require a great deal of patient profiling, market research, consumer analytics, financial and patient data integration and supply chain management to be performed.

References: 1. http://www.neiu.edu. 2. http://www.walgreenshealth. com 3. http://www.healthcareitnews. com 4. http://www.retailabout.com

Integrated Perspectives on Leadership

he book “Cases in Leadership” (2nd Edition) by W. Glenn Rowe & Laura Guerrero provides a perspective in leadership through a collection of cases and relevant theory. The theory provides basic construct about various topics on leadership while the cases adds to its application in the real business world. The book provides a unique collection of 29 realworld leadership cases from Ivey Publishing plus 15 practitioner readings from the Ivey Business Journal. Leadership is one of the most researched topics in recent times. It is also one of the most intriguing aspects for any industry or sector. This book covers leadership in a holistic perspective, throwing light on its application in managementbased situations. The book also highlights the current and most talked about aspects of leadership like transformational leadership, cultural aspects and ethical leadership. Each chapter has been organised in a manner where the theoretical background on the issue is presented first, following which cases are introduced, thus showing its real-life application. The gradual transition through the chapters in the books helps the reader to grasp complex theories and its application with ease. The selected cases are about complex leadership issues that require the attention of the decision-maker in each case. The

Book review Ruchika Mehra Jain Lecturer, OB & HR IILM, Lodhi Road VINUSHA kannan Faculty Associate, OB & HR IILM, Gurgaon

Cases in Leadership Authors: W. Glenn Rowe & Laura Guerrero Publisher: Sage South Asia Pages: 476, Price: ` 550

This book covers leadership in a holistic perspective, throwing light on its application in management-based situations. The book also highlights the current and most talked about aspects of leadership like transformational leadership, cultural aspects and ethical leadership.

cases in this book provide an invaluable supplement to any standard leadership text by connecting theory to actual cases. Some of the issues like ethical leadership, culture and leadership and women and leadership make interesting read and makes the reader to critically analyse the same. Leadership is the key to successful decision-making and decision-making in business never happens in silos. Thus, to target this area, the book provides a good cross-sectional view of leadership in the financial, ethical, performance improvement, crisis and other situations to give a holistic approach. We suggest ‘Cases in Leadership’ as a text book for the courses which deals in an Integrated Perspective on Leadership as it illustrates the complex nature of leadership in organisations from around the world and also helps in generating classroom discussions. The only limitation of this book which we have noticed is that it lacks theoretical concepts. To conclude, we can say that this book provides a bouquet of cases which let students grapple with actual decisions that real-world managers have faced and offers much more than a packet of cases. The author provides summaries of concepts, helpful discussion questions, and readings for each chapter which makes this book a very lucid and comprehensive study on leadership.

Richness of “Poor Economics” ‘Poor Economics’ is an engrossing new book by two MIT economists, Abhijit Banerjee and Esther Duflo, where the research is wide-ranging and much of it is original. The initial pages of the text clearly indicate that these researchers as a principle want to avoid generalisations and peep into the lives of the poor people in poor countries. Banerjee and Duflo feel that around the globe, the economies of poor countries have been reduced to a set of clichés like ‘Free markets for the poor’, ‘Deal with conflict first’, ‘Give more money to poorest’, ‘Foreign aid kills development’ etc. In this endeavour, the authors prefer to focus on the poorest billion people as they find them. The attempt is straightforward and honest. The writing style engages you, yet is not oversimplified. Intensive research is the foundation on which this book rests. As the book unfolds, it reveals to us why so many “magic bullets of yesterday have ended up as today’s failed ideas”. ‘Private Lives’ of the poor form the first section of the book and ‘Institutions’ which have been set up to remove poverty, the second. The themes covered under ‘Private Lives’ are hunger, population, health as well as education and under the ‘Institutions’ are risk management, micro-finance, entrepreneurialism and politics vs policies. Detailed research and surprising findings emerge in each chapter. For example, the most cost effective ways to

Book review Abha Sadana Assistant Professor, Economics IILM, Lodhi Road

Poor Economics – a radical rethinking of the way to fight global poverty Authors: Abhijit V. Banerjee and Esther Duflo Publisher: Random House India Pages: 320, Price: ` 499

delay teenage pregnancy is to give out free school uniforms. The authors unfold the book with simple questions like: does there exist a poverty trap? They have tried to explain the situations of the poor people with two divergent views in two different types of diagrams, i.e. with the help of ‘L-shape’ and ‘S–shape’ curves. The ‘S–shape’ curve explains the view that people with very low income always stays poor and can’t come out of poverty. And the ‘L-shape’ curve explains that there is no poverty trap in this world. In the first part, Banerjee and Duflo explore the in-depth

research and experiments which their peers have conducted on health, education and financial access. They raise the right questions which pinpoint the causes for the failure of many schemes and why the poor of the world are still entangled in a poverty trap. But the authors are honest enough to admit that they do not have all the answers. For example there are no explicit answers or solutions as to why only 40 per cent of the world infants are breast-fed when it costs nothing; why pregnant women in India aren’t using only iodine-fortified salt; why parents are not getting their children dewormed; and why people are not treating the drinking water with chlorine bleach when it is so readily available at an affordable price. However, they feel that alleviating those particular problems have set the poor free and helped them move towards a virtuous cycle of increasing wealth and investment. These small observations reflect that many battles are still to be won, some through private and some through government actions. While discussing Hunger and Global Health, the authors argue that nutritious food, money and access to small health problems are challenges in many countries but they do not depict the full picture. For example, poor households in China when given huge subsidy on the basic staple started eating less of it, or pregnant women in Kenya accept bed-nets for free while women in India have to be per-

suaded to get their children vaccinated. Poor villagers rarely bring their children even when clinics are well staffed and shots are free. They are like ‘lowhanging fruits’ which get unpicked by the people who need them the most. These examples seem to indicate that there are behavioural issues which seem to dominate actions undertaken by people. Banerjee and Duflo take day-to-day life examples like the ‘Men from Kabul’ and the ‘Eunuchs from India’ and raise major questions like ‘Does micro-credit work?’ Or, what are the ‘difficulties in lending to the poor’. The indepth study that the authors have done can easily be gauged from the fact that they touched issues like ‘Why the poor don’t save more?’ or ‘Poverty and the logic of self control.’ The authors have subtitled the book as ‘a radical rethinking of the way to fight global poverty’. However, I do not think the authors have achieved this goal. In fact, I would like to endorse the views of Matthew Yglesias who states, “It doesn’t really contain a radical rethinking in the way to fight global poverty, but it does try to cut-past lame debates over whether or not foreign aid ‘works’ and also attempts to find ways to actually assess which programmes are working, which aren’t, and how to improve those that don’t”.. No easy solutions are provided in the book but the right questions have been raised The book stimulates the reader to think and hence the first chapter which sets the ball rolling has been appropriately titled, ‘Think Again, Again’.

Banerjee and Duflo admit that they have ‘no magic bullets to eradicate poverty, no oneshot cure-all.’ However they come up with five interesting conclusions: First, the poor are ignorant and often lack information on issues like timely immunisation of children, citizens voting in the dark, benefits of education, and safe sex to protect from HIV. Second, the poor have to bear the burden of too many aspects of their life which the rich often taken for granted. These are aspects like adding chlorine for purifying water which comes to us by default, or that they have no automatic way to save which we find easily in our retirement plan or a contribution to social security. Hence, according to the authors, a ‘Nudge’ approach is essential to persuade the poor to take action. Another point which emerges from their research is that markets for some products, which are essential for the poor, are either missing or are poorly developed like, the market for health insurance. The poor also face unfavourable prices in the markets for financial resources. The authors have pointed out that in some cases technological or institutional innovation may allow a market to develop where it was missing. For example, the government interventions through systems like microcredit and unique identification for individuals in countries like Bangladesh and other countries, recommend that governments should step up. The fourth conclusion is that “poor countries are not doomed

to failure because they are poor, or because they have had an unfortunate history but is mainly due to ‘some avoidable flaw in the detailed design of policies and the ubiquitous three are: ignorance, ideology and inertia”. The authors feel that there is great scope for improvement in governance and ‘good’ institutional environments as well as for other policies without changing the existing social and political structures. Lastly, the book concludes that there is a need to change people’s attitude because, ‘Expectations about what people are able or unable to do all too often end up turning into selffulfilling prophecies’. This is substantiated with examples like the ones that nurses do not come on duty as no one expects them to be there and politicians have no incentive to perform because no one expects them to improve their lives. Hence, the study emphasises that ‘Changing expectations is not easy, but it is not impossible’. And once the situation starts to improve, the improvement itself affects beliefs and behaviour which results in the a starting of a ‘Virtuous Cycle’. The authors while illustrating the conclusions of their study humbly accept that “we are very far from knowing everything we can and need to know. This book is in a sense, just an invitation to look more closely.” But there is no doubt that this is a remarkable work which has also been endorsed by well known academicians like Amartya Sen, Robert Solow and Steven Levitt on different occasions.

SHRINKING WORLD

Glocalisation or Reverse Innovation: Choice is Yours!

he word “glocalisation,” is a combination up of the words “globalisation” and “localisation,” and has many interpretations and uses. The use of the word that I am referring to came out of Wikipedia: “The creation or distribution of products or services intended for a global or transregional market, but customised to suit local laws or culture.” “Glocalisation” occurs when globalisation and localisation merge. Despite global trends towards homogenisation,

differences and the desire for differences remain very strong among local cultures. Glocalisation helps consumers understand a product in a local sense, while a global product may seem irrelevant to them. In glocalisation, a sense of locality is created top-down.

Mixing cultures People are not inherently different from each other. Instead, it is our cultures that complete us and teach us the traditions and beliefs that separate ourselves from each other. As Geertz writes, “One of the most significant facts about us may finally be that we all begin with the natural equipment to live a thousand kinds of life but end in the end having lived only one”. The glocalisation of products merges globalised products with local specificities which mixes elements of different cultures. In conclusion, while profound differences do exist between people of different cultures, there are also many similarities. Perhaps as globalisation progresses and cultures become more fluid, people will then be more able to understand each other.

However, Vijay Govindarajan, Director of the Center for Global Leadership at the Tuck School of Business, on a recent Harvard Business School podcast suggests that many multinational companies will have to ditch the strategy of glocalisation and replace it with a new strategy that will be more effective in our current and future economy. This strategy he calls, “reverse innovation.” But what exactly is “reverse innovation?”

The best example that I can think for glocalisation is McDonald's and its working worldwide. It is the world's largest chain of hamburger fast food restaurants, serving more than 58 million customers daily. It relies heavily on beef or cow meat to create its own separate taste. It’s how they have built their brand. In India, eating beef is taboo simply because the cow is sacred to India’s 80 per cent plus Hindu population. Some Muslims also don’t eat beef and neither do the north eastern Buddhists in India. But even the powerful McDonald’s has been Indianised. No other country has forced them to make changes the way India has done and in all probability no other country will.

Reverse innovation is a term which refers to an innovation seen first or likely to be used first in the developing world before spreading to the developed world. The term was introduced by Dartmouth Professors Vijay Govindarajan and Chris Trimble and GE's Jeffrey R. Immelt. Reverse innovation refers broadly to the process whereby goods developed as inexpensive models to meet the needs of developing nations, such as battery-operated medical instruments in countries with limited infrastructure, are then repackaged as low-cost innovative goods for Western buyers. An HBR article summarised it best: “For decades, GE has sold modified Western products to emerging markets. Now, to pre-empt the emerging giants, it’s trying the reverse. With glocalisation, companies develop great products at home and then distribute them worldwide, with some adaptations to local conditions.” For many multinationals, product innovation is centralised in the U.S., while products are then modified for local markets all over the world. This strategy won’t be easy to replace but, if it is indeed becoming obsolete, multinationals need to begin to experiment with it. For many multinational companies, the change in business models means that local “growth teams” will replace the centralised model of decision-making and resources. Falak Agarwal PGP 2010-12, IILM Gurgaon

GLOBAL STANDARDS

Banking on IFRS: Are We Ready?

nternational Financial Reporting Standards (IFRS) are increasingly gaining global acceptance. Currently, more than 113 countries require or permit the use of IFRS. These include members of the European Union (EU), Australia, New Zealand, Mauritius, Russia and Nepal. We are also aware that Indian companies which are listed on overseas stock exchange have to prepare their accounts in accordance with the Generally Accepted Accounting Principles (GAPP) followed in respective countries. Foreign companies having subsidiaries in India have to prepare their accounts in order to meet the protocol required in the country of their origin. In line with this global trend, the Institute of the Chartered Accountants of India (ICAI) has planned convergence with International Financial Reporting Standards (IFRS) for certain defined entities. Convergence to IFRS would mean that India would join a league of more than 100 countries which have adopted IFRS. There are certain challenges that companies have to face while implementing IFRS. First, IFRS is a moving target as the changes within IFRS policies are done continually. Second, there are not many trained resources available for IFRS. Thirdly, training IFRS in organisations which have been following GAAP for decades now is a huge task. Lastly, not many people are aware and have an understanding of IFRS. But even with all these challenges, there are definitely certain benefits for the organisations, the economy, investors, industry and accounting professionals. Benefits for the economy would include a growth in international business, maintenance of an orderly and efficient capital market, support to increase in capital formation, encouragement of international invest-

ments and a resulting increase in foreign capital flow. For the investors, the information would be more relevant, reliable, timely and comparable across jurisdictions. Also the financial statements prepared using a common set of Accounting Standards (AS) are better understood as opposed to financial statements prepared using a different set of national AS. Â Industries would be benefited as they will be able to raise capital from foreign markets at lower cost by creating confidence in the minds of foreign investors that their financial statements comply with globally accepted AS. Convergence of AS simplifies the process of preparing the individual and group financial statements of companies running across the globe. Convergence to IFRS would allow Indian accounting professionals to sell their services as experts in different parts of the world and their mobility to work in different parts of the world would increase. Urban co-operative banks which have a net worth less then equal to Rs. 200 crore and Regional Rural Banks (RRBs) will not be required to follow the converged AS, (but if these institutions voluntarily opt to do so they can follow) and need to follow only the existing notified AS which are not converged with IFRS.

Impact on Indian banks According to a August 2008 report titled, â&#x20AC;&#x2DC;IFRS Convergence: Challenges And Implementation Approaches for Banks in Indiaâ&#x20AC;&#x2122;, the financial impact of convergence with IFRS will be significant for banks in India, particularly in areas relating to loan-loss provisioning, financial instruments and derivative accounting. This will mainly impact the financial position and performance, directly affecting key parametres such as capital adequacy ratios.

Applicability of IFRS for Indian Banks: Roadmap for Banking Companies Date of conversion of opening Class of Banking Companies balance sheet in compliance with converged AS April 1, 2013

All scheduled commercial banks and those urban cooperative banks (UCBs) which have a net worth in excess of Rs. 300cr.

April 1, 2014

Urban co-operative banks which have a net worth in excess of Rs. 200cr. but not exceeding Rs. 300cr.

Banks in India need to start thinking through the challenges and develop a roadmap for successful convergence at the earliest. Adoption of IFRS requires a significant change to such existing policies and could have a material impact on the financial statements of financial companies. The application of IFRS may also result in higher loan losses and impairment charges, thereby impacting available capital and capital adequacy ratios. Similarly, the use of fair values would introduce additional volatility in reported capital with its consequent impact on capital adequacy. However, while regulators, standard-setters and law makers sit together to abide by the roadmap for implementation of International Financial Reporting Standards (IFRS) in India, a wide section of the industry is debating the impact and the implementation challenges of transitioning into IFRS. The successful adoption of IFRS is based on flexibility and acceptability of IFRS by the Reserve Bank of India (RBI). Banks will have to soon adjust to accounting changes that are enforced by IFRS. “Under IFRS, de-recognition of financial assets is a complex, multi-layered area that follows the principle of transfer of risks and rewards. In the Indian context, this will impact mainly the securitisation activity where credit collaterals or guarantee are provided to cover credit losses in excess of the losses inherent in the portfolio of assets securitised. This will result in the failure of de-recognition test under IFRS and lead to collapse of

securitisation vehicles into the transferor’s balance sheets. Banks will need to assess the impact and consider the potential impact on capital adequacy and ratios such as return on assets.”

Are Indian banks ready? Indian banks are hiring consultants to train their employees in International Financial Reporting Standards (IFRS) as they take the lead in ensuring compliance with the IFRSs. To come up with the guidelines on the new accounting norm, a working group committee was formed by the Indian Banks Association (IBA) and RBI. Convergence to IFRS is likely to pose significant challenges for banks, as shown by global experience. Certain large Indian banks, which have the benefit of going through the process of international GAAP such as US GAAP in the past, have recognised the challenges of convergence and have already started planning their detailed roadmap to achieve a smooth convergence. It is time for other banks to take the cue and follow suit. Critical to the successful implementation of IFRS in the Indian context would be the level of regulatory sponsorship, the appropriate level of investment in systems and processes and consistency in market practices for areas where judgment is critical. A move to IFRS can be compared to the mountain peak which can certainly be scaled if well planned and appropriately executed! Prateek Jain PGP 2010-12 IILM, Gurgaon

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IILM Students at World Economic Forum

he moment we came to know that an organisation like World Economic Forum (WEF)comes annually to IILM to enroll students as external staff for the India Economic Summit, we were naturally all excited to be a part of this event. Every year, the World Economic Forum in collaboration with the Confederation of Indian Industry (CII) comes to India with a high-powered conference to highlight India's path of growth and development. On the latest occasion, the agenda was â&#x20AC;&#x153;Implementing Indiaâ&#x20AC;?. All of us volunteers were divided into various teams and each team was dedicated to handle a specific task. The various teams included Media, Partners, Security, Session Management and Registration. The vital role of co-ordination and communication at every level and among various departments of an organisation was to be performed by us.

Each of these teams were handling their respective tasks. For example, the Media team was responsible for tasks like registration of media, handling live streaming of sessions and carrying out various tasks assigned to the members by their team leader. Other functions included allocating specific meeting rooms to CEOs of big business enterprises as Nestle, Religare, PepsiCo, Nomura, ICICI, Hero Honda, Bajaj and Mahindra & Mahindra. It was a rare privilege to have CEOs of large business houses come to us and register for meetings or for seek-

ing room allocation to hold meetings. We also had the authority to ask such people to leave the rooms once the time allocated to them was over. Another great experience was working with the team from Geneva. They have a great working culture. All the members of the Forum were very polite to us: they never ordered us to work rather, they always always requested us if we could do any particular job for them. Another very good aspect in their work culture that came to our notice was that whenever there used to be a problem, they never blamed each other but worked together in order to correct that mistake. It was all together a good learning experience where we got to learn various aspects of an organisational environment. Simranjit Singh PGP 2010-12 IILM, Lodhi Road

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Theory To Practice: Testing Work Alientation In A Garment Factory

tudents of the undergraduate programme were taken for a visit to a garment manufacturer and exporter in Udyog Vihar Gurgaon accompanied by Radhika Madan and Priyanka Anand. The unit was a 100 percent export-oriented unit with the entire manufacturing process being done in-house. The process of receiving raw material, dying fabric, treating with chemicals, cutting, stitching and tailoring to the final product being made was shown to the students. The factory supplies to big names in the business like Marks & Spencers and Sisley.

Subjects in the course such as Sociology of Work, Foundations of Marketing and Organisation Analysis require students to develop a practical understanding and the visit to this factory was to explore topics at implementation level. Students Â engaged with labourers and workers to understand their perception of work environment. While at the premises of the factory, the students students analysed Blauners Theory of Alienation and conducted a survey to study the relevance of the theory in todayâ&#x20AC;&#x2122;s time. They found that a worker was very alienated from his work even today inspite of all the changes in human resource management. The Marketing aspect revolved around the 4 P's of marketing. The students got close insight into pricing, packaging and promotion techniques. They discussed buyer

requirements and other details about lot tolerance, lead time, quality control and sampling. They did a SWOT analysis of the garment industry and noted important findings of the same, The sector had been affected largely by recession but now as they observed, the buyer requirements and market flow had begun again.

Shopfloor workshop They were given a presentation on the organisation and were able to address questions to the management. The students made some suggestions on increasing productivity by enhancing work quality and making the work environment more conducive to workers. The observations on approaching major buying

houses and supplying through them was proving more expensive for the manufacturer. The students therefore suggested directly contacting clothing brands through online portals like Alibaba and Trade India for orders. This would reduce costs and add to direct profits. Diversification into men's clothing was also recommended as it would be easier and beneficial. Visits like these bring forth the real working environment to the students and enthuse them to learn and develop. The classroom understanding is complimented by industry understanding. Clearly, nothing succeeds like hard work Priyanka Anand Assistant Professor, OB & HR, IILM Gurgaon

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Jaypee and C&C Infrastructure: Engineering Classroom Value-add

visit to the head office of C&C Infrastructure, Greater Noida was organised in which 20 students participated with enthusiasm. The visit was a success in every respect: from being beneficial to the students in terms of gaining knowledge to being an event of college outing as well. The Yamuna Expressway (formerly Taj Expressway) Project was conceived with the idea of reducing the travel time between New Delhi and Agra. It will be a 6-lane (extendable to 8 lanes) access-controlled Expressway and will connect Delhi with Agra via Mathura. The Expressway is to be developed in three phases:1. Phase I: Expressway Stretch between Greater Noida & Taj International Airport.

2. Phase II: Expressway Stretch between Taj International Airport and an intermediate destination between Taj International Airport & Agra. 3. Phase III: Expressway Stretch between intermediate destination & Agra. The project is being executed by Jaypee group. Its length is 165.5 kms and its pavement was rigid and this expressway would be having 3 toll plazas extendable to 7 toll plazas and 35 underpass. This gives the basic facts. After visiting the site, we headed towards the manufacturing site of JP Group, where all the basic materials were made by machines, making it highly capital intensive as compared to the previous site where the road was being built

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by machine force than human labour. We were shown the various machines that were being used to mix sand and cement. For cost savings, the machines were designed in a way that it reduced unnecessary movement. For instance, there was a path above which was the sand filter which could directly fill a truck that transported the required mixture of cement to the construction site. There was an another machine where the sand and stones were delivered to the conveyor belt via the various crushers and tunnel. The machines used are highly efficient making the whole process time saving which enabled C&C Infrastructure to achieve economies of scale, making the process further more cost effective. The machines used at this site were robot like where one person fed the required instructions and in accordance with which the machines executed the process. This made the work precise and accurate. The data communication channel that is used by C&C Infrastructure are both wirebased and wireless. For instance, they use Radio Frequency (RF) between sites to communicate and resulting in fast flow of information for the various departments.

Networking is on the basis of topologies and communication model: star topology and client/ server model respectively. Star topology is used because the nodes are dependent on the main server as the information is executed via the main server similar as is the case in the client/server model. They use the Internet Service Provider where a satellite dish is installed at the head office through which information is made accessible. Extranet and Intranet are being used which has a public ID and password which only some seniors and executives can view for security purposes. Oracle Apps 11.5.10.2 is the application software type that is being used over there. At the office, we also were shown a

documentation on Enterprise Resource Planning(ERP). ERP helps them to share the data across the various departments. To conclude, the whole trip was mesmerising and breathtaking, and we all look forward to more trips like these. Shreeja, Mrigna and Tanya UG 2010-13 IILM, Lodhi Road

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Fun and Learning: UBS students' trip to Dehradun'

t was an excited group of 28 students of the under-graduate course accompanied by faculty Rachna Madaan and Bhumika that left the New Delhi railway station by Dehradun Shatabdi Express on 25th March 2011 sharp at 6.45 am for an outbound training programme arranged by Pegasus in Dehradun. These three days were full of life and energy, with each day like a year in itself. On the first day of the expedition, we were taken to explore our residing place– 'the forest’– and rejuvenate ourselves with scenic exquisiteness and delicacy. Subsequent to this exploring, we were trained to carry on an adventurous action-fox flying activity on our camp. On the second day, we undertook activities like human web, crossing the trouble and battlefield which involved team building, strategising, time management and goal management. On the last day of our travel, we were made to do activities like hurdle crossing, step-by-step number and others, which helped us in formulating various strategy management tactics, personal skill advancement and many others.

These activities challenged our mental, physical and social mettle, which not only helped in broadening them, but also, create a balance within them. After every activity, a reflective action was undertaken, which examined our strengths, weaknesses, strategy and learning as individuals, teams and institution. It also helped us grasp various management skills and techniques which would definitely assist us in recuperating and enhancing our lives in times to come. During our training, we were made to learn diverse management skills like strategic think-

ing, critical evaluation, communication, teamwork, leadership, cooperation, planning and many others. It was immensely knowledgeable and educational; surely it will remain as some of the most magnificent moments in our life. Hope further excursions are arranged for batches to come. The days were thoroughly enjoyable and relaxing, which made us know ourselves and others better, hopefully in the process making a good life, a better life. Mayuri Bansal UG 2008-11 IILM Gurgaon

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UBS Parent's Day

he parent's day on the 25th of March 2011 saw an unprecedented turnout of concerned parents and career anxious students. Meena Bhatia, Dean, Undergraduate Business School, welcomed all and asked Rajni Arya of the Learning and Development Unit to take over the deliberations. Ms. Arya prompted the parents to pose their concerns before she addressed them. Parents raised many aspects that they were grappling with ranging from career management to freedom of children. Ms. Sachdeva, Sunny Sachdeva's mother expressed her concern of loosing the close connect with her child when he goes overseas for further studies. Another parent felt that their wards lacked focus and aim in life. The tensions between the younger generations' ways and that of the elder one was another issue brought up. Parents were also keen to learn about the extra-curricular activities at the college.

ley's mother, present on the occasion, said that often fathers are busy earning and mother's are busy spending. However, she believed that at the end of the day it is the mother whose guidance and support is required by the ward. Rajni Arya added that while a lot is imparted at the college, it is at home that some values need to be reinforced. Parents need to bond with the kids and spend a lot of time with them. When the parents come to know about the ongoing activities at the college they need to ask their wards if they are part of it and how their experience was like during it. Ms. Arya also spoke of the counsellors at IILM who conduct various tests at the college. Parents need to ask their children about the outcome of such tests. She also said that many students may not have a clear aim in life as many of the parents may not have had at that age themselves. How-

ever, bonding with the children constantly is required. Respect is the other aspect she spoke of. For example, some of the conversation between parents and their children tends to be negative and need to be made positive. For self esteem, confidence and their own love for themselves, they are dependent on teachers and family. Students will become dependent on parents and listen to them when they get positive reinforcement from them. They will feel they have the support of the most significant people in their lives. She said that these children will soon be ready to leave home and go abroad to study. At this point, the parents need to decide if they want to be strong and let the child go. The other option would be to hold the child back to fulfil their own loneliness. However, it is with conviction in their children that the parents need to let go and watch them soar in their careers.

Ms. Arya then took up each of the issues one by one and explained that students have mentors who handle the problems for the students. She said that some of them came from a strict disciplined background, and now having a lot of freedom did not know what to do with it and hence end up experimenting. Shailey Goel, a recent entrant to the college spoke of her faith in the teaching fraternity and said that they were very helpful. Shai-

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Patriotism and Prayer: Lessons from Punjab

riday, 12th November, 6 a.m: A group of 40 students from Stage 1 and 2 of UBS along with faculty members Abha Sadana, Shivani Khurana and Girish Ahuja assembled outside the gates of IILM, Lodhi Road to leave for a three day industrial visit to Ludhiana and Amritsar. The objective of the trip was to assimilate classroom learning with real life experience and gain first-hand exposure for students. It included visit to four industries: Unbrako and the three units of Swadeshi Woolen Mills as well as an excursion to Wagha Border and Golden Temple in the wee hours. Unbrako (CE certified) is the world's largest manufacturer of precision mechanical fasteners and producer of hexagon socket screws (and allied products), aerospace and automotive fasteners. Developed in the 1920s, it rapidly became the socket screw of choice for engineers in the US and Britain. With an annual turnover of approxi-

mately Rs. 800 crore, it employs over 4,000 people in 5 manufacturing plants and has sales offices in 6 countries spread over 4 continents. Mr. Lohera, Manager, QA Systems of the company, introduced us to the recent innovation of the company called E-CODE, the unique “traceability on the head system.” Traditionally, traceability ended with the packaging label, but Unbrako's E-CODE has the individual lot traceability stamped on the head. This makes the sorting process faster and requires less manpower. After a quick word with Mr. Lohera, the chief engineers gave us a tour of the factory. Students were shown a variety of assembly line systems, manufacturing process of nuts and bolts and use of modern mechanisms that lead to high quality products.

We observed that the management pays great attention to total quality management (TQM) and hence all the finished goods produced in the factory are checked even for minor defects and are completely rejected if found to have any. We learned that Unbrako is competitive in nature given the fact that this market has large number of players, and that it has managed to carve a niche for itself. It has become the market leader by continuously strategising the moves to be made in the market like they started producing goods according to their clients specifications, they directly supply to big clients for their specific orders. Also, in order to avail economies of scale, it has

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diversified into various product portfolios such as nuts, bolts and fasteners of numerous sizes and types. After the valuable learning during the plant visit, we had a question and answer round with Mr. Lohera followed by a quick refreshment. Finally, we headed towards our final destination, Amritsar. We started the second round of industry visits to three units of Amritsar Swadeshi Textile Corporation Pvt. Ltd. The company currently exports to 27 countries and is the recipient of highest Export Award in blankets eight times in the last 10 years. It started its operations in 1957 as a blanket manufacturing unit in Amritsar. Today it has become one of India's premier organisations in heavy woollen and blanket manufacturing industry. Presently, it employs over 1000 people and is the largest blanket manufacturer exporter from India. We noticed that the company has an interesting work environment. There is positive team work culture and an attitude for continuous improvement to achieve high customer satisfaction. They endeavour for zero error by incorporating the concept of "Do it right first time". Next, was the tour of the first unit of the factory: the spinning unit. We saw the complete manufacturing process of spinning which includes carding, comb-

ing, drafting, twisting and winding. As the fibre passes through these processes, they are successively formed into lap, sliver, roving and finally into a yarn. A brief journey from fibre to yarn helped us in understanding industrial spinning in a better way. Our next destination was Swadeshi Koreatex, the woollen finishing unit. The unit consists of the complete complement of finishing machines required for blanket and heavy woollen fabric finishing which includes a padding mangle, hydro extractors, washing machines, milling machines, milling cum scouring machines, multi layer stenter, raising machines, brushing machine rotary press, fabric blowing machine, polishing and shearing machines. This unit has a capacity of 10000 metres or 4350 blankets per day.

The last unit was of Acrylic Mink Blankets. It was set up in 1988 keeping in view the changing requirements of customers in India as well as abroad. This unit is one of the most modern mink blanket manufacturing plant in Asia. From here on, we headed to one of the most exciting part of the day, the Wagah border where the spectacular procession aroused a patriotic feeling in the group. Finally, we all got ready for one last experience: the Golden Temple. After the peaceful darshan of ‘Palki and Harminder Sahib’ we boarded the bus, returning to Delhi. No one wanted it to end, but it was inevitable. This trip was very enriching: so much to learn with so much of enjoyment. Abha Sadana Assistant Professor, Economics IILM, Lodhi Road

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Pioneer 2011-12: IILM Business Plan Competition

ioneer 2011-12, is an initiative of IILM Knowledge Center for students of all the four IILM campuses: Lodhi Road, Gurgaon, IGSM and CMS Greater Noida.The objective of this business plan competition is to provide a platform to undergraduate and postgraduate students of Management to promote and develop their entrepreneurial skills. The event was hosted by IILM-IGSM Greater Noida on 15th April 2011 and was well attended by a large and appreciative audience. A formal online registration process was followed for the submission of the synopsis for the business proposal. After initial screening of the synopsis of all the proposals, shortlisted teams made the final

presentations of their business proposals before the panel of industry experts, comprising:  Harbinder Narula: Vice President/Head: Operator Business and Content Buongiorno  Anil Srivastava: CEO & Director, Global Economic Advantage Pvt Ltd.  Shweta Batra: Founder & Director, ClickPerfect.com The winning team from IILM Lodhi Road comprised four members: Vaibhav Gupta, Tarun Batra, Rahul Dua and Sridhar Chandrasekharan. The concept presented and best adjudged by the panel of experts was of Powernap stations which can come really handy, as people can catch a quick nap, given the current system which witnesses continuous delays in transport services at Railways, airports and buses.

The first runner-up was from IILM-IGSM comprising two members: Rajdeep Sarkar and Arunangshu Pal. The concept of AIETEE that they presented was of making available food at the doorstep of customers. It’s availing the service at the right time to the right people at the right place for making them taste the tasty. The plan is to alter the process of restaurants chains and generate a more organised manner in offering the same food with better taste and in a better hygienic manner. The second runner-up was also from IILM-IGSM comprising Rohan Kapoor and Abhishek Vashisht. Their plan revolved around the creation of disposable glasses of good quality at low prices towards a safe environment. Team Business plan

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Samvad: ICHHA’s Debate Event “INDIA- WITH OR WITHOUT THE JAN LOKPAL BILL” The citizens' ombudsman bill, the Jan Lokpal Bill, brought the Indian public together to stand up against corruption. Anna Hazare a civil activist, often referred to as today’s Gandhi was seen leading the entire movement, spurring within us a feeling of patriotism and responsibility towards our nation. He followed Gandhi’s Satyagraha movement by commencing an indefinite fast in New Delhi to demand the passing of the bill. He was surrounded by supporters and media from all across the nation and abroad. With a topic like this in sight, there could have been no better topics for the debate competition organized by the ICHHA members of the IILM Lodhi Road Campus. The auditorium was filled with students who were not only emotionally attached to this topic but also felt that missing such an event was out of question. Most of the audience sitting there were curious about the points, the debaters speaking against the Jan Lokpal bill, would put forward.

The event couldn’t have been successful without the presence of the students, honoured faculty members like Dr.Surabhi Goyal , Ms. Swati Sinha and Ms. Shipra Jain and the esteemed judges of the evening; Ms. Shivani Nag (Political Activist with All India Students Association, anti corruption activist and PhD from Jawaharlal Nehru University.), Mr. Anchit Thukral (Multiple award winning director of documentaries and short films, owner of Delhi based The Morpheus Productions House and currently an integral part of the RedMat Reves Production House. Currently directing a documentary on the Anna Hazare Movement.) Ms. Ruchika Jain( Faculty of LDU at IILM.) There were five teams of two, each member of the team speaking for or against the topic. Every member got a chance to express their views in three minutes. They were marked for the same on the basis of time taken, the content of their speech and the ability to handle interrogations from the judges, their co-participants and the audience. The participants were all geared up about the debate, from quoting famous personalities to getting the right sta-

tistics; they went to the roots of the Jan Lokpal Bill and came up with crisp informative facts. One of the participants from the winning team opted to speak in Hindi and captivated us by his speech; he shared his perspective about why Jan Lokpal Bill is not the ultimate solution to all the corruptions of this country. The First prize was bagged by Anvit and Pavan, the best interjector was awarded to Gaurav from the audience and Monisha, a very confident participant rightly won the prize for the best speaker, as she not only tactically handled interrogations that came her way but also succeeded in convincing her point to the audience and the judges. The debate was an enriching experiencing for all. We look forward to witness many more inspiring events in the near future, which will not only broaden our horizons but also help us evolve as better people. Cheers TEAM!!

for

the

ICHHA

Maria Ahsan PGP 11-13, IILM Lodhi Road

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Team Building

management development program was conducted for at National Housing Bank, a whollyowned subsidiary of the Reserve Bank of India. The proposal was initiated Priyanka Anand, bveing an ex-employee of the bank. The Chairman and Managing Director had expressed the need for training in various areas. The proposal after numerous alterations and additional specifications was approved by the institution. The participants were officers of the ranks of management trainees, assistant managers, deputy managers and managers. The session was addressed by the CMD Mr. Verma, followed by a video on IILM shown by Ms. Vandana Mehrotra and her discussion on initiatives of industry engagement and various executive programs being conducted by IILM. Day one had three session: icebreaking and MBTI assessment by Priyanka Anand and perception mapping by Ruby Thukral. a session on managerial oral and written communication was conducted by Ms Ruby Thukral on the second day. this was followed by a session on team role assessment and Belbins tool by Dr Sudhir Naib and Ms Priyanka Anand. a simulation exercise on team building by Ms Priyanka Anand was then followed by a session on strategy of effectiveness using the Hare and

Tortoise story (revisited) taken by Prof Rahul Mishra. The session feedback and trainer feedback was very encouraging. Participants were very involved throughout the sessions and also learnt as they enjoyed and bonded with each other. They expressed that the bank had conducted various programms by IIMs, XLRI, MDI in HR. However, they learnt a lot from the sessions conducted by IILM. The feedback forms clearly mentioned their willingness to attend more such training workshops. The psychometric analysis and simulation exercises conducted were appreciated by the audience and it maintained the tempo of the training programme. The session conducted by Ruby Thukral was very constructive and replete with examples and situations to learn from, participants were in awe of her exceptional communication skills. Dr. Naibâ&#x20AC;&#x2122;s session reflected years of experience and expertise in team-building and the game of broken squares gripped the audience. The session conducted by Prof Rahul Mishra was highly appreciated by the participants and his ability to link and correlate every aspect of management under one umberalla was much appreciated. Priyanka Anand Assistant Professor, OB & HR IILM, Gurgaon

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Building A Winning Sales Force

rof. Sujit Sengupta, Area Chair Marketing and Sales, IILM and Ms Pallavi Ghosh, Associate Professor, Personality Development, IILM conducted an MDP on “Building A Winning Sales Force ” at the PHD Chamber, New Delhi on 27 July, 2011. The training programme’s main objective was to give a new definition to selling as a profession, how to achieve excellence in service and sales, how to manage the sales force and finally on building the right attitude, citing examples of major personalities in the world who have reached heights not only because of their of knowledge or skills but largely because of their attitude. The programme was a mix of classroom delivery coupled with role play, activity on selling a product and was a perfect blend of theory & practice. The training programme was attended by around 27 professionals from different companies across different industries wherein they learnt the selling techniques to be applied to products as unique as selling ERP solutions.

The programme started with an ice breaking session delivered by Ms Pallavi which gave participants an opportunity to get to know each other with exercises to emphasize on the importance of right attitude. Training module was carefully designed and developed keeping in mind the fact that sales is done to retain the customer for long term & hence emphasised on the principle of “Sell as if you are selling to your grandmother”. For future reference a handout was written and distributed which consisted of contents of delivery, articles, cases & presentation. The participants were taught the FAB (Features, Benefits & Advantages) and the SPIN ( Situation, Problem, implication & Need Payoff) techniques of selling and the activity on the same was done by participants with a demo product which they had to sell. Also a role play was done by participants which emphasised on the fact that people do not value other person’s time and that humanness from within should come in to value a person if he/she has a prior appointment

with you quoting the example of Ratan Tata’s attitude of valuing people’s time. Participants were also made to do a Questionnaire exercise on relationship with Boss & Relationship with Subordinate based on Johari Window to enable them to understand in which window do they lie & what needs to be done to improve the relationship. The whole training was a different experience for participants as it was a composition of theory and practice with live examples, cases and videos. The kind of interaction the participants had, indicates the value they have derived from the programme. Sujit SenGupta Professor and Area Chair, Sales and Marketing IILM, Lodhi Road

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Strategic Cost Management

Management Development Program was conducted on “Strategic Cost Management” at PHDCCI New Delhi, on Thursday - 21st July 2011 by IILM - LR & GGN Finance area faculty members. This programme registered a good number of 30 participants, from varied sectors of industry who were at middle and senior level positions. Some Vice Presidents, Chief Managers, Directors, Associate Directors, General Managers, Senior Deputy General Manager, IT Manager, Finance Executive to name a few. These participants were from both public and private organizations including Fi-

nance, Engineering, Automotives and Manufacturing sectors. The MDP sessions were jointly handled by Dr.P.Malarvizhi and Ms.Vandana Mehrotra from the IILM- Finance Area. Some of the key issues discussed in these Sessions were - Understanding Cost for Strategic Management Decisions, Activity Based Costing as a strategic tool for decision making (By by Dr.P.Malarvizhi) and Responsibility Accounting & Transfer Pricing (By Ms Vandana Mehrotra). The session on Contemporary developments in Strategic Cost Management was jointly conducted by the two speakers. At the end of this one day MDP, participants shared their

feedback, through formal platform facilitated by PHD CCI. It included theparticipants’ are interest in two day long MDP on this topic as against the current one day programme. They found the discussion topics on Strategic cost analysis, Transfer Pricing and Activity Based Costing to be of more relevant in their day to day operations. Participants were highly appreciative of the Strategic Environmental Cost Management as an eye opener and Balanced Score Card, Theory of Costraints as a theme of contemporary relevance for them. Dr. P. Malarvizhi Professor, Accounting and Finance, IILM, Lodhi Road

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Towards A Customer-focused Service Strategy

Professor Sujit Sengupta, Area Chair, Sales and Marketing, IILM assisted by D.Venkata Anuroop, Research Associate, Marketing at IILM conducted a two day training programme for field service engineers at Daikin Industries AC/DC training centre, Neemrana. The main objective of the programme was to impart knowledge on service industry, clear the concepts and share practical experience with live examples and activities for the improvement of service engineers at Daikin Industries. The whole programme was conducted as a classroom delivery structured along with activities and role play oriented for theoretical and practical balance in teaching and learning.

in a service industry from a short term and long term perspective. For future reference, a well-scripted documentation of 46 pages was distributed which consisted of complete training schedule, contents of delivery, cases, examples and instructions. These were distributed to the participants one day in advance for better understanding and preparation for the two day training sessions.

It was attended by 12 fresh Daikin graduate engineers in the service field who came from various parts of the company's offices like the National Capital Region (NCR), Rajasthan, Maharashtra and Tamil Nadu. Not surprsingly, each participants had his own expectations as they shared different platforms and different backgrounds.

On day one, four sessions were delivered starting from the basics about service, the best and worst of service practicess, and team exercises on feature/ advantages/benefits of products and services. Most of the sessions which included team exercises were recorded on video and shared with the participants for feedback and reference of participants post-training.

The training module was carefully designed and developed keeping in mind the different concepts that will be useful

On day two, the remaining four sessions were delivered which consisted of explaining how to manage expectations,

satisfaction of customers and ways to win and retain customers. These sessions were followed by the ‘Great Service Debate’ in which participants were divided into groups and given service situations where they discussed various solutions to the given problems and issues. A video of Do’s and Don’ts in field service followed by role play activity and feedback were given to the participants by Professor Sengupta. The whole training was a different experience for the participants as it was a composition of theory, practical, live examples, cases and videos. It is our belief that the participants gained a lot and made the maximum out of the training sessions. Sujit SenGupta Professor and Area Chair, Sales and Marketing IILM, Lodhi Road

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Orientation Day at IILM The third session was conducted by Ms. Neeti Sanan and Ms. Vandana Srivastava where they acquainted the students with skills required to succeed in life. Some of them are attitude, integrity, time management, communication, reading and technology. After being oriented with the required skills, students were prepared to understand the job market with the guidance of Mr. Rahul Mishra.

ith stars in their eyes and a whole lot of hope to make it big in the corporate world, came the next set of students to form the PGP 2011-13 batch. On 14th June 2011, IILM welcomed these eager, careerdriven young men and women to its family. A two-day orientation programme was planned in the auditorium where the new batch was introduced to the college.

important at workplace as well as during their learning experience at IILM. Mentoring for students has been implemented at IILM to advance the studentâ&#x20AC;&#x2122;s career through an interpersonal engagement that facilitates sharing experience and expertise and thereby subtly provide guidance to them. Dr. Agarwal introduced this concept to the new set of students and highlighted its importance and usefulness.

Careers are formed with at responsibility and that is what offered IILM, said Ms. Sapna Poli, the director of the PGP programme at IILM. The purpose of studying MBA is to put together your strengths to the optimum. Ms. Popli held an interactive session seeking students out whenever possible. Tanya of batch PGP 11-13 said that she had taken up MBA to become financially independent. She chose to study MBA so that she could hone her skills and acquire knowledge needed in the corporate. Angad, another student, dreams of becoming an entrepreneur and has thus joined MBA to make the right strategies and decisions and get a platform to work with different sets of people. Ms. Popli reiterated the importance of keeping their final goal in mind while studying this course.

The third session was conducted by Ms. Neeti Sanan and Ms. Vandana Srivastava where they acquainted the students with the skills required to succeed in life. Some of them are Attitude, Integrity, time management, communication, reading, technology. After being oriented with the required skills, students were prepared to understand job market with the guidance of Mr. Rahul Mishra. With the help of a SWOT analysis, students could identify how their skills be matched by the requirements of industry. He reiterated that students need to identify their core strength to achieve their goals.

Dr. Shuchi Agrawal, Dean, addressed the students on teaching and learning methodologies, making the students aware of the importance of maximise their learning from an MBA. She encouraged students to be flexible, creative, adaptive and work in teams. She showed a video through which she brought home the point of being a part of a team and that leading was

The concluding session on Networking at IILM was delivered by Dr. Surabhi Goyal and Prof. Sujit Sengupta where they gave tips on how an MBA student can market himself in the corporate world creating a brand unto himself. They spoke about social media and leveraging it to ones advantage. Connecting with customers and innovation were other important aspects they focused on. Shipra Jain Research Associate, IILM Lodhi Road

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Academic Achievements Mr. Jasdeep Chadha

IIM Ahmedabad, Gujarat, India behavior research” in IJAS conference at Harvard University, (1-4th Januray 2011). • Published a book titled ‘ ProducBoston, USA (30th May-2nd June tion and Operation Management: • Presented a paper entitled 2011). Theory and Practice’ by Univer“ SERVQUAL Model to Determine sity science press in September • ‘Presented a paper entitled “GloService-Quality of Management 2010. balization of the Companies: how Institutes in India” in Internato develop the Code of Ethics” in tional Conference on Managenational conference on Strategic Ms. Malvika Mago ment Practices & Research, ICManagement of Business DevelMPR –2010 at Apeejay School • Published Book Review on ‘Green opment: Issue and Prospects at of Management Dwarka, Delhi, Marketing -Theory, Practices and Baba Farid College of ManageIndia (27-28th Dec.2010). Strategies’ in AIMA Journal of ment and Technology, Bhatinda, Management and Research (May Punjab, India (20-21st April • Presented a paper entitled “Im2011). 2011) plementing six sigma technique in management institutes” in • Presented a paper entiteld “Meta Dr. Bhawna Agarwal “Knowledge Globalization Interanalysis-an integrated approach national Conference” at Suffolk • Contributed a paper entitled “The for research” in International University, Boston, USA (7th Noefficacy of celebrity endorsement Conference on Strategies & Innoadvertisements and its impact vember 2010). vations for Sustainable Developupon consumers’ brand preferment in Organizations at GGS Inence and purchase decisions” in draprastha Univerty, New Delhi, Dr. P. Malarvizhi the eleventh international conIndia (4-6th March 2011). • Conducted a one-day MDP ference on knowledge, culture on “Strategic Cost Management” and change in organisations at • Presented a paper entitled “Gloat PHDCCI-New Delhi, on Thursbalization of Management InstiUniversidad San Pablo CEU, Maday-21st July 2011 with Ms. tutes: Significance of Cross-site drid, Spain (15-17 June 2011). Vandana Mehrotra. This MDP Knowledge Sharing” in Eighth was jointly organised by IILM• Presented a paper entitled “DifAIMS International Conference on Management (AIMS-8) at PHDCCI. ferent scientific approaches in

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Revive Nostalgia for your Alma Mater “Lets walk down memory lane together, lets remember those moments of learning, The moments that changed your lives and paved the way for your success.......” An Alumni Meet was organised at the IILM, Gurgaon campus on the 11th of March 2011 for the under graduate and post-graduate batches from the year 2005 to 2010. Rahul Mishra kicked off the event by sharing the vision of IILM for its ambassadors and the initiatives being taken here to foster good relations with the corporate world. He encouraged the Alumni be to be an active part in panel discussions, placements and other events organised by IILM. The alumni shared their experiences of how IILM had helped them change themselves and groomed them for the outside world. They thanked the

A panel discussion on “Making it big in the corporate world” was conducted in which ten Alumni from various batches took part. Mr. Jones Mathew and Ms Ranjani Matta were the moderators.

institute for providing world class teaching facilities and the experienced faculty. There was a special mention of the industry interaction that was created to

enhance learning at IILM. All the Alumni present were placed in PWC, HDFC Bank, Hewitt, Ernst & Young, Pepsi and other prestigious companies. They all held responsible positions and most of them were also leading the market in their family-owned businesses. The Alumni seemed confident and highly evolved. A panel discussion on “Making it big in the corporate world” was conducted in which ten Alumni from various batches took part. Mr. Jones Mathew and Ms. Ranjani Matta were the moderators. The panel rightly pointed out that the effort required to carve a niche for themselves in the corporate arena was tremendous. The right blend of attributes and hard work was essential to get desired results. Ms. Aditi Khanna from placment team provided all the necessary support in terms of calling and inviting Alumni from the years 2005 to 2010 for the event. The highlight of the event was the in-house rock band played by post-graduate students where the foot tapping nostalgic numbers took to Alumni back in time. They remembered their time spent in college and were impressed to see positive changes on the campus. The event ended with dinner and informal conversations. The Alumni present gave very positive feedback and requested for more such events to be organized every year. Priyanka Anand Assistant Professor, OB&HR, IILM Gurgaon

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Tapping the Power of Alumni

n Alumni workshop was conducted on 27th August 2011 at the Gurgaon campus. The event was attended by three Alumni. Mr Rajendra Birla, Vice President, Finalytics Consultancy (2004-06), Mr Agransh Anand, Associate Vice President, Skoch Consultancy (2006-09), Rajesh Yadav, Tax Consultant PWC (2008-10). It was attended by 49 students from PGP 1st and 2nd year students. The workshop began with presentations by the Alumni. The presentations were based on their work and their organisations. They shared the learning and recreation through lectures, activities and clubs in college. The students were told in detail

about the challenges they experienced and the learnings they derived from these challenges. The Alumni advised students to make career choices with careful evaluation and finally accept the offers available to them. The aspect of hard work and smart work was emphasised upon. The Alumni expressed their liking for the new improved infrastructure at IILM Gurgaon campus. The audience was enthralled by the challenges and difficulties faced by some of the panelists. The event was received well by the students and provided a lot of insights into the corporate world. They were able to differentiate the perception of a student com-

pared to the reality faced in the industry. The Alumni were glad to be part of this event and expressed their keenness for Buddy mentoring concept and AMP Program as well. Prof Rahul Mishra addressed the Alumni and gave a token of appreciation on behalf of IILM. The event concluded with tea in the Music Cafe`, Ms. Geeta Mittal interacted with the Alumni and discussed opportunities for projects and placements. The efforts of Ms Pranami Goswami and SARC (student relationship alumni cell ) ensured the success of the event. Special Thanks to Mr Jatin Achra for arrangements for the event.

LETTERS To the editor Thanks very much for sending me the latest issue of ‘The Edge’. It contains some very nice articles which I will certainly go through. I am sure your Advanced Management Program will enable our boys and girls to compete effectively in the fast changing global market. A world class India can be built brick by brick by people like you. Abid Hussain Economist & Diplomat Thank you very much for regularly sending me the copies of The Edge journal. It is well brought out and is very informative. Congratulations on the high standard of the journal. Surendra Singh Former Cabinet Secretary Government of India Your Institute's magazine, "The Edge" January-April 2011 issue has been well received by me. I must say that various aspects of the Institute have been mentioned in the magazine nicely and it has been well brought out. I am sure your good work shall continue and students will be enriching their knowledge. They will be far better managers of tomorrow. Govind Hari Singhania JK Organisation I am thankful to you for sending me a copy of ‘The Edge’ from which I note with interest, the continuing success of IILM. I am glad that the IILM leadership team visited the Sheffield Hallam University and the University of Bradford and I am sure, this will help IILM identify and adopt best practices of International standards and will further enhance the quality of education. The magazine has come out well. My compliments to you and your editorial team Raghupati Singhania Vice Chairman & Managing Director JK Tyre & Industries ltd. I am grateful to you for remembering to me to send the copy of IILM’s in-house magazine ‘The Edge’. What a wonderful work and what a beautifully produced booklet! I take the opportunity of sending you a copy the Annual Review of year 2010-11 of Ambuja Cement Foundation. Your guidance and comments will be useful for us to improve further. Suresh Neotia Chairman Emeritus Ambuja Cement Foundation

Finding New Meaning for Freedom and Independence After the midnight of 15th August 1947, when our motherland got freedom from British Raj, the day is celebrated as the transformation of Hindustan into a new cohesive country, India. However, today, even though we are free in a certain sense and enjoy key fundamental rights, we have a long way ahead in fully exercising the true spirit of the word. One of the key reasons for this is the spread of corruption that has grown to such a large extent today that it is hindering India’s zeal to attain independence in a real manner. According to the latest Government of India census, a majority of the country’s population is in the age group 20 to 35 years. This generation has not seen the struggle and sacrifices the people went through to make 15th of August 1947 happen, for a new beginning for this country on the global map. Hence, some of them may not be able to relate themselves to new waves of changes (though there

is greater realisation today than in the past) happening in the country and may not fully appreciate the real meaning of independence. They take this for granted which meant everything for the people of that generation. But like always, there’s a good time after a bad phase has passed away. Today, we see the passion and the urge to find the real meaning of this word through movements like the one led by Shri Anna Hazare through the non-violent, anti-corruption drive that shook the whole country and led to the revised Lok Pal Bill. We could see a new India building round the corner which comprises of those youngsters who had never thought so much about the word itself. Now, they were the mass who wanted Independence for Independent India. Some of the finest quotes from great leaders and thinkers around the globe regarding the value and importance of the word “Independence” are compiled hereby.

“To safeguard democracy, the people must have a keen sense of independence, self-respect, and their oneness.”

“Even as people take pride in their national independence, we know we are becoming more and more interdependent.”

Mahatma Gandhi, Father of the Nation

Bill Clinton, USA’s former President

“The true character of liberty is independence, maintained by force.”

“The first of earthly blessings, Independence.” Edward Gibbon, English Historian and MP

Voltaire A Famous French Philosopher

“You cannot build character and courage by taking away man's initiative and independence.”

“Without moral and intellectual independence, there is no anchor for national independence.”

Abraham Lincoln USA’s First President

David Ben Gurion, Israel’s First Prime Minister

“Long years ago we made a tryst with destiny, and now the time comes when we will redeem our pledge, not wholly or in full measure, but very substantially. At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom. A moment comes, which comes but rarely in history, when we step out from the old to the new, when an age ends and when the soul of a nation, long suppressed, finds utterance....We end today a period of ill fortune, and India discovers herself again." Jawahar Lal Nehru, India’s First Prime Minister

Conceptualised and compiled by Ashish Rathi, PGP 2010-12

Institute for Higher Education

Anil Kulwant Raii Group